Document:

October
18, 2018

 

Oakley
J. Gentry

201
Montauk Highway Suite 7

Westhampton
Beach, NY 11978

 

Re:
Offer to join the Board of Directors of New World Technologies, Inc., a Delaware Corporation.

 

Dear
Oakley:

 

On
behalf of New World Technologies, Inc. (the “Company”), we are extremely pleased to invite you to become a member
of the Company’s Board of Directors (the “Board”). We believe that your skills, expertise and knowledge will
prove very helpful to the Company’s progress.

 

In
connection with your services as a member, we will recommend to the Board of Directors that you be granted 30,000 (Thirty Thousand)
restricted shares of the Company’s common stock. We will recommend the said shares shall become vested quarterly over a
period of one (1) year. Company hereby retains Member of the Board of Directors, and Member hereby agrees to (i) commit to attend
meetings of the Company’s Board and (ii) commit to a minimum of five (5) hours per month that the Company may reasonably
request. Member agrees to being available to participate in various telephonic conferences, meetings and discussions from time
to time. Members relationship with the Company shall be that of an independent Board Member and not that of an employee. Accordingly,
Member will not be eligible for any employee benefits, nor will the Company make deductions from payments made to Member for taxes,
which shall be solely Member’s responsibility. Member shall have no authority to enter into contracts which bind the Company
or create obligations on the part of the Company.

 

In
addition, you will be entitled to be reimbursed for reasonable, pre-approved expenses that may be incurred by you in connection
with your services to the Company in accordance with the Company’s established policies.

 

Please
note that this offer is contingent upon your qualification as an independent member under any applicable law(s) or rule(s). Also,
please note that this offer and any granting of any common shares of the Company or reimbursements referenced in this offer letter
are contingent upon approval of the Board of Directors and the Company’s stockholders. The term of this offer shall begin
October 18, 2018, and is for one (1) year and subject to annual renewal.

 

    	 	 	 

     

    

 

Your
service on the Board will be in accordance with, and subject to, the Company’s By-laws and Certificate of Incorporation,
as such, and as may be amended from time to time. In accepting this offer, you are representing to us that (i) you do not know
of any conflict that would restrict you from becoming a member of the Board of the Company, (ii) you will not provide the Company
with any documents, records or other confidential information belonging to any other parties and (iii) that it is understood by
you that certain confidential information of the Company may be obtained by you which makes you and all your employees, contractors,
agents and any affiliates “Insiders” as defined by the US Securities and Exchange Commission (“SEC”) and
shall be deemed “Insiders” and shall be obligated to guide yourself and themselves accordingly as such as prescribed
by the SEC and all applicable laws, rules and regulations. Additionally, upon acceptance of this offer you acknowledge and agree
to the use of your name, image and executive bio by the Company within the Company’s corporate documents or website.

 

This
offer is considered confidential information and we trust that you will treat it as such. If you wish to accept this offer, please
sign below and return the fully executed letter to us. You should keep one copy of this letter for your own records. This letter
sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether written
or oral, expressed or implied. This letter may not be modified or amended except by a written agreement, signed by a Director
of the Company and by you.

 

We
are looking forward to having you join us at the Company. We believe that your enthusiasm and past experiences will be an asset
to the Company and that you will have a positive impact on the organization.

 

	Sincerely,	 
	 	 
	Hank Tucker	 
	 	 	 
	By:	 	 
	Name:	Hank Tucker	 
	Title:	CEO/Chairman	 

 

	Accepted and agreed to this	 
	18th day of October, 2018	 
	 	 
	Oakley J. GentryExhibit

Exhibit 4.6

DESCRIPTION OF SECURITIES

As of June 29, 2019, Viavi Solutions Inc. has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): its common stock. Unless the context otherwise indicates, references in this description to the “Company,” “we,” “our” and “us” refer, collectively, to Viavi Solutions Inc. and its consolidated subsidiaries.

Description of Capital Stock

General

The following is a summary of the terms of our capital stock and certain provisions of our amended and restated certificate of incorporation and amended and restated bylaws as they are currently in effect, which we refer to in this section as our certificate of incorporation and bylaws, respectively.  This summary does not purport to be complete and is qualified in its entirety by the provisions of our certificate of incorporation and bylaws, both of which are filed as exhibits to this Annual Report on Form 10-K.

Our authorized capital stock consists of 1,001,000,000 shares, with a par value of $0.001 per share, of which:

		
	•
	1,000,000,000 shares are designated as common stock; and

		
	•
	1,000,000 shares are designated as preferred stock.

Common Stock

All issued and outstanding shares of our common stock have been duly authorized, validly issued, fully paid and non-assessable.  All authorized but unissued shares of our common stock are available for issuance by our board of directors without any further stockholder action, except as required by the listing standards of the Nasdaq Global Select Market.

The holders of common stock are entitled to one vote for each share held of record on all matters submitted to a vote of the stockholders.  Holders of common stock do not have cumulative voting rights in the election of directors.  Subject to preferences that may be granted to any then outstanding preferred stock, holders of common stock are entitled to receive ratably such dividends as may be declared by our board of directors out of funds legally available therefor as well as any distributions to the stockholders.  In the event of a liquidation, dissolution or winding up of the Company, holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities and the liquidation preference of any then outstanding preferred stock.  Holders of our common stock have no preemptive or other subscription or conversion rights.  There are no redemption or sinking fund provisions applicable to our common stock.

Preferred Stock

Pursuant to our certificate of incorporation, our board of directors has the authority, without further action by the stockholders, to issue from time to time up to 1,000,000 shares of preferred stock in one or more series.  Our board of directors may designate the rights, preferences, privileges and restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, redemption rights, liquidation preference, sinking fund terms and the number of shares constituting any series or the designation of any series.  The issuance of preferred stock could have the effect of restricting dividends on the common stock, diluting the voting power of the common stock, impairing the liquidation rights of the common stock, or delaying, deterring or preventing a change in control.  Such issuance could have the effect of decreasing the market price of the common stock.

Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation and Bylaws

Our certificate of incorporation and bylaws contain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control of us.  These provisions and certain provisions of Delaware law, which are summarized below, could discourage takeovers, coercive or otherwise.  These provisions are also designed, in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors.  We believe that the benefits of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of discouraging a proposal to acquire us.

Undesignated preferred stock.  As discussed above under “-Preferred Stock,” our board of directors has the ability to designate and issue preferred stock with voting or other rights or preferences that could deter hostile takeovers or delay changes in our control or management.

No cumulative voting.  Our certificate of incorporation does not provide for cumulative voting.

Limits on ability of stockholders to act by written consent or call a special meeting.  Our certificate of incorporation provides that our stockholders may not act by written consent.  This limit on the ability of stockholders to act by written consent may lengthen the amount of time required to take stockholder actions.  As a result, the holders of a majority of our capital stock would not be able to amend the bylaws or remove directors without holding a meeting of stockholders called in accordance with the bylaws.

In addition, our certificate of incorporation provides that, subject to the rights of the holders of any stock having a preference over the common stock as to dividends or liquidation, special meetings of the stockholders can be called only by our board of directors, our chairman of the board of directors or our chief executive officer.  Stockholders are not permitted to call a special meeting or to require the board of directors to call a special meeting of stockholders, which may delay the ability of our stockholders to force consideration of a proposal or for holders controlling a majority of our capital stock to take any action, including the removal of directors.

Requirements for advance notification of stockholder nominations and proposals.  Our bylaws contain advance notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of our board of directors or a committee of the board of directors.  These advance notice procedures may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed and may also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempt to obtain control of our company.

Choice of forum.  Our bylaws provide 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 Delaware General Corporation Law, our certificate of incorporation or our bylaws; or any action asserting a claim against us that is governed by the internal affairs doctrine.

Delaware anti-takeover statute.  We are subject to the provisions of Section 203 of the Delaware General Corporation Law regulating corporate takeovers.  In general, Section 203 prohibits a publicly held Delaware corporation from engaging, under certain circumstances, in a business combination with an interested stockholder for a period of three years following the date the person became an interested stockholder unless:

		
	•
	prior to the date of the transaction, our board of directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

		
	•
	upon completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting stock owned by the interested stockholder, (1) shares owned by persons who are directors and also officers and (2) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

		
	•
	at or subsequent to the date of the transaction, the business combination is approved by our board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is not owned by the interested stockholder.

Generally, a business combination includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder.  An interested stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a corporation’s outstanding voting stock.  We expect the existence of this provision to have an anti-takeover effect with respect to transactions our board of directors does not approve in advance.  We also anticipate that Section 203 may discourage attempts that might result in a premium over the market price for the shares of common stock held by stockholders.

The provisions of Delaware law and the provisions of our certificate of incorporation and bylaws could have the effect of discouraging others from attempting hostile takeovers and as a consequence, they might also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts.  These provisions might also 

have the effect of preventing changes in our management.  It is also possible that these provisions could make it more difficult to accomplish transactions that stockholders might otherwise deem to be in their best interests.

Listing

Our common stock is traded on The Nasdaq Global Select Market under the symbol “VIAV.”

Transfer Agent and Registrar

The transfer agent and registrar for our common stock is Computershare Investor Services, 462 South 4th Street, Suite 1600, Louisville, KY 40202, telephone number 800-962-4284, Outside the US 781-575-3120.

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