Document:

Exhibit

Exhibit 4.1

DESCRIPTION OF AMERICAN NATIONAL BANKSHARES INC.’S SECURITIES
As of December 31, 2019, the common stock of American National Bankshares Inc. (“American National”) was the only class of its securities registered under Section 12 of the Securities Exchange Act of 1934.  The following summary description of the material features of the common stock of American National does not purport to be complete and is subject to, and qualified in its entirety by reference to, American National’s articles of incorporation and bylaws, each as amended.  For more information, refer to American National’s articles of incorporation and bylaws and any applicable provisions of relevant law, including the Virginia Stock Corporation Act (the “Virginia SCA”) and federal laws governing banks and bank holding companies.
General
American National is authorized to issue 20,000,000 shares of common stock, par value $1.00 per share.  Each share of American National’s common stock has the same relative rights as, and is identical in all respects to, each other share of American National’s common stock. American National’s common stock is traded on the Nasdaq Global Select Market under the symbol “AMNB.” The transfer agent for American National’s common stock is Computershare, Inc., 250 Royall Street, Canton, Massachusetts 02021.
Dividends
American National’s shareholders are entitled to receive dividends or distributions that its board of directors may declare out of funds legally available for those payments. The payment of distributions by American National is subject to the restrictions of Virginia law applicable to the declaration of distributions by a corporation. A Virginia corporation generally may not authorize and make distributions if, after giving effect to the distribution, it would be unable to meet its debts as they become due in the usual course of business or if the corporation’s total assets would be less than the sum of its total liabilities plus the amount that would be needed, if it were dissolved at that time, to satisfy the preferential rights of shareholders whose rights are superior to the rights of those receiving the distribution. In addition, the payment of distributions to shareholders is subject to any prior rights of outstanding preferred stock.
As a bank holding company, American National’s ability to pay dividends is affected by the ability of American National Bank and Trust Company (“American National Bank”), American National’s bank subsidiary, to pay dividends to American National. The ability of American National Bank to pay dividends is influenced by bank regulatory requirements and capital guidelines.
Liquidation Rights
In the event of any liquidation, dissolution or winding up of American National, the holders of shares of its common stock will be entitled to receive, after payment of all debts and liabilities of American National and after satisfaction of all liquidation preferences applicable to any preferred stock, all remaining assets of American National available for distribution in cash or in kind.
Voting Rights
The holders of American National’s common stock are entitled to one vote per share and, in general, a majority of votes cast with respect to a matter is sufficient to authorize action upon routine matters. Directors are elected by a plurality of the votes cast, and shareholders do not have the right to accumulate their votes in the election of directors.

Classes of Directors
American National’s board of directors is divided into three classes, apportioned as evenly as possible, with directors serving staggered three-year terms. 
No Preemptive Rights; Redemption and Assessment
Holders of shares of American National’s common stock will not be entitled to preemptive rights with respect to any shares that may be issued. American National’s common stock is not subject to redemption or any sinking fund and the outstanding shares are fully paid and nonassessable.
Preferred Stock
American National’s board of directors is empowered to authorize the issuance, in one or more series, of shares of preferred stock at such times, for such purposes and for such consideration as it may deem advisable without shareholder approval. American National’s board is also authorized to fix the designations, voting, conversion, preference and other relative rights, qualifications and limitations of any such series of preferred stock. American National’s board, without shareholder approval, may authorize the issuance of one or more series of preferred stock with voting and conversion rights which could adversely affect the voting power of the holders of American National’s common stock. The creation and issuance of any series of preferred stock, and the relative rights, designations and preferences of such series, if and when established, will depend upon, among other things, the future capital needs of American National, then existing market conditions and other factors that, in the judgment of American National’s board, might warrant the issuance of preferred stock.
Anti-takeover Provisions
Certain provisions of American National’s articles of incorporation and bylaws may discourage attempts to acquire control of American National. These provisions also may render the removal of one or all directors more difficult or deter or delay corporate changes of control that American National’s board of directors did not approve.  These provisions include the following:
Classified Board of Directors. American National’s articles of incorporation provide for classification of American National’s board of directors into three separate classes, which may have certain anti-takeover effects.  For example, at least two annual meetings of shareholders may be required for the shareholders to replace a majority of the directors serving on American National’s board of directors.
Authorized Preferred Stock. American National’s board of directors may, subject to application of Virginia law, authorize the issuance of preferred stock at such times, for such purposes and for such consideration as the board may deem advisable without further shareholder approval. The issuance of preferred stock under certain circumstances may have the effect of discouraging an attempt by a third party to acquire control of American National by, for example, authorizing the issuance of a series of preferred stock with rights and preferences designed to impede the proposed transaction.
Supermajority Voting Provisions.  American National’s articles of incorporation state that certain business combination transactions must be approved by at least 80% of all votes entitled to be cast on such transactions by each voting group entitled to vote on the transaction when the other party to the transaction owns more than 25% of American National’s voting stock, unless certain conditions are met. If the transaction does not involve a holder of more than 25% of the outstanding voting stock, the Virginia SCA applies and the affirmative vote of more than two-thirds of the votes entitled to be cast is required to approve the transaction.

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No amendment to American National’s articles of incorporation may change, repeal or make inoperative any of the provisions relating to cumulative voting, directors or certain business combinations unless such amendment is approved by at least 80% of the outstanding shares of its common stock; provided, however, that if such amendment has been unanimously recommended to shareholders by American National’s board of directors (i) at a time when no other entity beneficially owns, or, to the knowledge of any director, proposes to acquire, 25% or more of American National’s voting stock, or (ii) if all such directors are “continuing directors” as defined in American National’s articles, such amendment need only be approved by a majority of the votes entitled to be cast by each voting group entitled to vote on the matter.
Directors of American National may be removed with or without cause, but only by the affirmative vote of the holders of at least 80% of the outstanding shares of its common stock.
No Cumulative Voting. American National’s articles of incorporation do not provide for cumulative voting for any purpose. The absence of cumulative voting may afford anti-takeover protection by making it more difficult for American National’s shareholders to elect nominees opposed by the board of directors.
Shareholder Proposals. American National’s bylaws require a shareholder who intends to raise new business at a shareholder meeting to deliver written notice to the Secretary of American National at least 60 days prior to the first anniversary of the date of American National’s proxy statement for the preceding year’s annual meeting.  American National’s bylaws also require shareholders who desire to raise new business to provide certain information to American National concerning the nature of the new business, the shareholder and the shareholder’s interest in the business matter. These requirements may discourage American National’s shareholders from submitting proposals.

3Exhibit 4.6

 

DESCRIPTION OF REGISTERED SECURITIES

 

The following description
of registered securities of Purple Innovation, Inc. (the “company,” “we,” “us” and “our”)
summarizes certain provisions of our Second Amended and Restated Certificate of incorporation and our Amended and Restated Bylaws.
The description is intended as a summary, and is qualified in its entirety by reference to our Second Amended and Restated Certificate
of Incorporation (the “Certificate of Incorporation”) and our Amended and Restated Bylaws (the “Bylaws”),
copies of which have been included as exhibits to this Annual Report on Form 10-K.

 

Our authorized capital
stock consists of: (a) 300 million shares of common stock, which consists of (i) 210 million shares of Class A Common Stock, par
value of $0.0001 per share, and (ii) 90 million shares of Class B Common Stock, par value of $0.0001 per share; and (b) 5 million
shares of undesignated preferred stock, $0.0001 par value per share. 

 

Class A Common Stock

 

Listing

 

Our Class A Common Stock is listed and
principally traded on the NASDAQ Capital Market under the symbol “PRPL.”

 

Voting Rights

 

Holders of Class A Common Stock are entitled
to one vote for each share held on all matters to be voted on by stockholders. Unless specified in our Second Amended and Restated
Certificate of Incorporation or Amended and Restated Bylaws, or as required by applicable provisions of the Delaware General Corporation
Law (“DGCL”) or applicable stock exchange rules, the affirmative vote of a majority of our common shares that are voted
is required to approve any such matter voted on by our stockholders. Directors are elected by a plurality of the votes cast at
an annual meeting of stockholders by holders of our common stock. There is no cumulative voting with respect to the election of
directors, with the result that the holders of more than 50% of the shares voted for the election of directors can elect all of
the directors.

 

Dividends

 

Holders of Class A Common Stock are entitled
to receive ratable dividends when, as and if declared by the board of directors out of funds legally available therefor.

 

Liquidation

 

In the event of a liquidation, dissolution
or winding up of the Company, holders of our Class A Common Stock are entitled to share ratably in all assets remaining available
for distribution to them after payment of liabilities and after provision is made for each class of stock, if any, having preference
over the common stock. Holders of our Class A Common Stock have no preemptive or other subscription rights, other than as described
below in the section entitled “Preemptive or Other Rights.” There are no sinking fund provisions applicable to the
Class A Common Stock.  

 

Preemptive or Other Rights

 

On February 1, 2018 the Company entered
into a subscription agreement (the “Coliseum Subscription Agreement”) with CCP and Blackwell (together the “Coliseum
Investors”), pursuant to which CCP agreed to purchase from the Company 2,900,000 shares of Class A Common Stock of the Company
at a purchase price of $10.00 per share and Blackwell agreed to purchase from the Company 1,100,000 shares of Class A Common Stock
of the Company at a purchase price of $10.00 per share (the “Coliseum Private Placement”). The shares of the Company’s
common stock issued in the Coliseum Private Placement were not registered under the Securities Act in reliance on the exemption
from registration provided by Section 4(a)(2) of the Securities Act.

 

     

     

    

 

In connection with the Coliseum Private
Placement, we granted to the Coliseum Investors preemptive rights for the future sale of Company securities. So long as the Coliseum
Investors hold at least 50% of the shares of Class A Common Stock acquired in the Coliseum Private Placement, the Coliseum Investors
are entitled to purchase up to their pro rata share of all equity securities issued by the Company, subject to certain exceptions.

 

In addition, the Coliseum Subscription
Agreement provides the Coliseum Investors (and any other funds or accounts managed by Coliseum Capital Management, LLC) with a
right of first refusal to provide all, but not less than all, of any of the following financings by the Company or any of its subsidiaries:
(i) preferred equity financing with a preference to or over any of the terms of the Company’s common stock and (ii) any debt
financing with a principal amount outstanding (together with all other debt provided by lender or group of lenders) greater than
or equal to $10 million, other than (x) the replacement or refinancing of existing indebtedness or (y) an asset based loan on customary
terms with an all in interest rate of not greater than 5% per year, by the Company or any of its subsidiaries.

 

Other than the Coliseum Investors, stockholders
will have no preemptive or other subscription rights and there will be no sinking fund or redemption provisions applicable to the
Class A Common Stock and Class B Common Stock.

 

Founder Shares

 

2,587,500 of our outstanding shares of
Class A Common Stock were sold to Global Partner Sponsor I LLC (the “Sponsor”) in our initial public offering. These
“Founder Shares” are identical to the shares of Class A Common Stock sold in our initial public offering, and holders
of these shares have the same stockholder rights as public stockholders.

 

In connection with the closing of the Business
Combination, the Company, Continental Stock Transfer and the Coliseum Investors entered into an Agreement to Assign Founder Shares
(the “Founder Share Assignment Agreement”), pursuant to which the Sponsor assigned to the Coliseum Investors an aggregate
of 1,293,750 of its Founder Shares (the “Coliseum Founder Shares”).

 

Transfer Agent

 

Philadelphia Stock Transfer, Inc is the
transfer agent and registrar for our common stock.

 

Warrants

 

There were 15,525,000 warrants (the “Public
Warrants”) issued in the initial public offering of Global Partner Acquisition Corp. (the predecessor to the Company) and
12,815,000 warrants (the “Sponsor Warrants”, and together with the Public Warrants, the “Warrants”) issued
in a private placement simultaneously with such initial public offering. The Public Warrants and Sponsor Warrants have the same
terms, as set forth in the Warrant Agreement dated filed with the SEC as Exhibit 10.1 on the Current Report on Form 8-K filed August
4, 2015 (the “Warrant Agreement”).

 

Listing

 

The Public Warrants and Sponsor Warrants
trade under the symbol “PRPLW” on OTC Pink.

 

Voting Rights

 

The holders of the Warrants do not have
the rights or privileges of holders of Class A Common Stock or any voting rights until they exercise their Warrants and receive
shares of Class A Common Stock.

 

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Exercise

 

Each whole Warrant entitles the registered
holder to purchase one-half of one share of our Class A Common Stock at a price of $5.75 per half share ($11.50 per full share),
subject to adjustment as discussed below, at any time after March 4, 2018. A Warrant holder may exercise its Warrants only for
a whole number of shares of the Class A Common Stock. For example, if a Warrant holder holds one Warrant to purchase one-half of
a share of Class A Common Stock, such Warrant will not be exercisable. If a Warrant holder holds two Warrants, such Warrants will
be exercisable for one share of the Class A Common Stock. Warrants must be exercised for a whole share. The Warrants will expire
February 2, 2023, at 5:00 p.m., New York time, or earlier upon redemption or liquidation.

 

No fractional shares will be issued upon
exercise of the Warrants. If, upon exercise of the Warrants, a holder would be entitled to receive a fractional interest in a share,
we will, upon exercise, round down to the nearest whole number the number of shares of our Class A Common Stock to be issued to
the Warrant holder.

 

We will not be obligated to deliver any
shares of Class A Common Stock pursuant to the exercise of a Warrant and will have no obligation to settle such Warrant exercise
unless a registration statement under the Securities Act with respect to the shares of Class A Common Stock underlying the Warrants
is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with
respect to registration. No Warrant will be exercisable and we will not be obligated to issue shares of Class A Common Stock upon
exercise of a Warrant unless Class A Common Stock issuable upon such Warrant exercise has been registered, qualified or deemed
to be exempt under the securities laws of the state of residence of the registered holder of the Warrants. In the event that the
conditions in the two immediately preceding sentences are not satisfied with respect to a Warrant, the holder of such Warrant will
not be entitled to exercise such Warrant and such Warrant may have no value and expire worthless. In no event will we be required
to net cash settle any Warrant. In the event that a registration statement is not effective for the exercised Warrants, the purchaser
of a unit containing such Warrant will have paid the full purchase price for the unit solely for the share of Class A Common Stock
underlying such unit.

 

If our Class A Common Stock is at the time
of any exercise of a Warrant not listed on a national securities exchange such that it satisfies the definition of a “covered
security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of Warrants who exercise their
Warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event
we so elect, we will not be required to file or maintain in effect a registration statement or register or qualify the shares under
blue sky laws.

 

The Warrants may be exercised upon surrender
of the Warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the
reverse side of the Warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price
(or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of Warrants being exercised.

 

Redemption

 

We may call the Warrants for redemption:

 

		●	in
whole and not in part;

 

		●	at a price of $0.01 per Warrant;

 

		●	upon not less than 30 days’ prior
written notice of redemption (the “30-day redemption period”) to each Warrant holder; and

 

		●	if, and only if, the reported last sale
price of the Class A Common Stock equals or exceeds $24.00 per share for any 20 trading days within a 30-trading day period ending
three business days before we send the notice of redemption to the Warrant holders.

 

If and when the Warrants become redeemable
by us, we may exercise our redemption right even if we are unable to register or qualify the underlying securities for sale under
all applicable state securities laws.

 

If the foregoing conditions are satisfied
and we issue a notice of redemption of the Warrants, each Warrant holder will be entitled to exercise his, her or its Warrant prior
to the scheduled redemption date. However, the price of the Class A Common Stock may fall below the $24.00 redemption trigger price
as well as the $5.75 (for each half share) Warrant exercise price after the redemption notice is issued.

 

    3

     

    

 

If we call the Warrants for redemption
as described above, our management will have the option to require any holder that wishes to exercise his, her or its Warrant to
do so on a “cashless basis.” In determining whether to require all holders to exercise their Warrants on a “cashless
basis,” our management will consider, among other factors, our cash position, the number of Warrants that are outstanding
and the dilutive effect on our stockholders of issuing the maximum number of shares of Class A Common Stock issuable upon the exercise
of our Warrants. If our management takes advantage of this option, all holders of Warrants would pay the exercise price by surrendering
their Warrants for that number of shares of Class A Common Stock equal to the quotient obtained by dividing (x) the product of
the number of shares of Class A Common Stock underlying the Warrants, multiplied by the difference between the exercise price of
the Warrants and the “fair market value” (defined below), by (y) the fair market value. The “fair market value”
shall mean the average reported last sale price of the Class A Common Stock for the 10 trading days ending on the third trading
day prior to the date on which the notice of redemption is sent to the holders of Warrants. If our management takes advantage of
this option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A Common
Stock to be received upon exercise of the Warrants, including the “fair market value” in such case. Requiring a cashless
exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a Warrant redemption.

 

Election to Limit Beneficial Ownership

 

A holder of a Warrant may notify us in
writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such Warrant,
to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the Warrant
agent’s actual knowledge, would beneficially own in excess of 9.8% (as specified by the holder) of the shares of Class A
Common Stock outstanding immediately after giving effect to such exercise.

 

Rights in Events of Stock Splits, Stock
Dividends, Other Dividends, Consolidations, Reorganizations

 

If the number of outstanding shares of
Class A Common Stock is increased by a stock dividend payable in shares of Class A Common Stock, or by a split-up of shares of
Class A Common Stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the
number of shares of Class A Common Stock issuable on exercise of each Warrant will be increased in proportion to such increase
in the outstanding shares of Class A Common Stock. A rights offering to holders of Class A Common Stock entitling holders to purchase
shares of Class A Common Stock at a price less than the fair market value will be deemed a stock dividend of a number of shares
of Class A Common Stock equal to the product of (i) the number of shares of Class A Common Stock actually sold in such rights offering
(or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for Class
A Common Stock) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Class A Common Stock paid in such rights
offering divided by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into
or exercisable for Class A Common Stock, in determining the price payable for Class A Common Stock, there will be taken into account
any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair
market value means the volume weighted average price of Class A Common Stock as reported during the ten trading day period ending
on the trading day prior to the first date on which the shares of Class A Common Stock trade on the applicable exchange or in the
applicable market, regular way, without the right to receive such rights.

 

If we, at any time while the Warrants are
outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the holders of Class A
Common Stock on account of such shares of Class A Common Stock (or other shares of our capital stock into which the warrants are
convertible), other than (a) as described above or (b) certain ordinary cash dividends, then the Warrant exercise price will be
decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of
any securities or other assets paid on each share of Class A Common Stock in respect of such event.

 

If the number of outstanding shares of
our Class A Common Stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Class
A Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Class A Common Stock issuable on exercise of each Warrant will be decreased in proportion
to such decrease in outstanding shares of Class A Common Stock.

 

    4

     

    

 

Whenever the number of shares of Class
A Common Stock purchasable upon the exercise of the Warrants is adjusted, as described above, the Warrant exercise price will be
adjusted by multiplying the Warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which
will be the number of shares of Class A Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment,
and (y) the denominator of which will be the number of shares of Class A Common Stock so purchasable immediately thereafter.

 

In case of any reclassification or reorganization
of the outstanding shares of Class A Common Stock (other than those described above or that solely affects the par value of such
shares of Class A Common Stock), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A Common Stock), or in the case of any sale or conveyance to another corporation or entity of
the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the
holders of the Warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the Warrants and in lieu of the shares of our Class A Common Stock immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the Warrants would have received if such holder had exercised their Warrants immediately prior
to such event. If less than 70% of the consideration receivable by the holders of Class A Common Stock in such a transaction is
payable in the form of common stock in the successor entity that is listed for trading on a national securities exchange or is
quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such event,
and if the registered holder of the Warrant properly exercises the Warrant within thirty days following public disclosure of such
transaction, the Warrant exercise price will be reduced as specified in the Warrant Agreement based on the Black-Scholes (as defined
in the Warrant Agreement) value of the Warrant.

 

The Warrant Agreement provides that the
terms of the Warrants may be amended without the consent of any holder to cure any ambiguity or correct any defective provision,
but requires the approval by the holders of at least 50% of the then outstanding public Warrants to make any change that adversely
affects the interests of the registered holders of public Warrants.

 

Specific Rights for Warrants Held by
Sponsor 

 

Pursuant to the Warrant Agreement, for
so long as the Sponsor or a permitted transferee of the Sponsor holds Sponsor Warrants, such holder may exercise the Sponsor Warrants
on a cashless basis. If holders of the Sponsor Warrants elect to exercise them on a cashless basis, they would pay the exercise
price by surrendering their Sponsor Warrants for that number of shares of Class A Common Stock equal to the quotient obtained by
dividing (x) the product of the number of shares of Class A Common Stock underlying the Sponsor Warrants, multiplied by the difference
between the exercise price of the warrants and the “fair market value” (defined below), by (y) the fair market value.
The “fair market value” means the average reported last sale price of the Class A Common Stock for the 10 trading days
ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant agent. In connection
with the Business Combination, the Sponsor assigned to the Coliseum Capital Partners, L.P., Blackwell Partners LLC—Series
A, Coliseum Co-Invest Debt Fund, L.P., and Baleen Capital Management LLC an aggregate of 9,532,500 Sponsor Warrants to purchase
4,766,250 shares of Class A Common Stock. After giving effect to such assignment, the Sponsor holds 3,282,500 Sponsor Warrants
to purchase 1,641,250 shares of Class A Common Stock.

 

Certain Anti-Takeover Provisions of
Delaware Law

 

DGCL Provisions. We are subject
to the provisions of Section 203 of the DGCL regulating corporate takeovers. This statute prevents certain Delaware corporations,
under certain circumstances, from engaging in a “merger” with:

 

		●	a stockholder
who owns 15% or more of our outstanding voting stock (otherwise known as an “interested stockholder”);

 

		●	an affiliate
of an interested stockholder; or

 

		●	an associate of an interested stockholder,
for three years following the date that the stockholder became an interested stockholder.

 

    5

     

    

 

A “merger” includes a merger
or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:

 

		●	our board of directors approves the transaction
that made the stockholder an “interested stockholder,” prior to the date of the transaction;

 

		●	after the completion of the transaction
that resulted in the stockholder becoming an interested stockholder, that stockholder owned at least 85% of our voting stock outstanding
at the time the transaction commenced, other than statutorily excluded shares of common stock; or

 

		●	on or subsequent to the date of the transaction,
the merger is approved by our board of directors and authorized at a meeting of its stockholders, and not by written consent, by
an affirmative vote of at least two-thirds of the outstanding voting stock not owned by the interested stockholder.

  

Advance Notice Requirements for Shareholder
Proposals and Director Nominations. Our Bylaws provide advance notice procedures for shareholders seeking to bring business
before our annual meeting of shareholders or to nominate candidates for election as directors at our annual meeting of shareholders
and specify certain requirements regarding the form and content of a shareholder’s notice. These provisions might preclude
our shareholders from bringing matters before our annual meeting of shareholders or from making nominations for directors at our
annual meeting of shareholders if the proper procedures are not followed.

 

Additional Authorized Shares of Capital
Stock. The additional shares of authorized common stock and preferred stock available for issuance under our Certificate of
Incorporation, could be issued at such times, under such circumstances and with such terms and conditions as to impede a change
in control.

 

Issuance of Undesignated Preferred Stock.
Our board of directors has the authority, without further action by the shareholders, to issue shares of undesignated preferred
stock with rights and preferences, including voting rights, designated from time to time by our board of directors. The existence
of authorized but unissued shares of preferred stock would enable our board of directors to render more difficult or to discourage
an attempt to obtain control of us by means of a merger, tender offer, proxy contest or other means.

 

Limitations on Stockholder Ability to
Act by Written Consent or Call Special Meetings. The Certificate of Incorporation eliminate the right of shareholders to act
by written consent without a meeting. Further, the Bylaws and Certificate of Incorporation provide that special meetings of shareholders
may be called only by the Chairman of the Board of Directors, the Chief Executive Officer, or the Board of Directors acting pursuant
to a resolution adopted by a majority of the Board of Directors.

 

Choice of Forum. Our Certificate
of Incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for any derivative action
or proceeding brought on our behalf; any action asserting a breach of fiduciary duty; any action asserting a claim against us arising
pursuant to the DGCL, our Certificate of Incorporation or our Bylaws; or any action asserting a claim against us that is governed
by the internal affairs doctrine.

 

 

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