Document:

8K Exhibit Director's Agreement

Vet Online Supply Inc. ("VTNL")

PROSPECTIVE DIRECTOR'S AGREEMENT

 

 

The undersigned Proposed Director ("the undersigned") agrees, if elected by shareholders (or appointed by the Board to fill a vacancy), to serve on the above company's Board of Directors from December 1, 2017 to the date of the Shareholders' Annual Meeting in the next calendar year.

 

In exchange for serving in this capacity, the undersigned is hereby granted restricted common shares of VTNL pursuant an Employment Agreement at a price of PAR Value per share. These shares are restricted and cannot be sold or otherwise transferred by the undersigned except as provided by law, and in no event, prior to the maturity date of six (6) months.

 

The undersigned agrees to remain a Director of the company for the time period above.   If he or she does not serve as a Director for the first six (6) months from the time period above (unless due to an Act of God or his/her long-term incapacitation), then the undersigned agrees to return all of the shares listed above to the Company immediately upon his/her resignation or dismissal from the Board.  The Company will not dismiss the undersigned without cause, and with notice and an opportunity for the undersigned to be heard by the Board first.

 

The undersigned is entitled to $500.00 for each Directors meeting that he/she physically attends and as arranged for any tele-conference meeting, meeting-without-notice proceeding, or other official meeting or action of the Board (such as the consideration and passage of a Board Resolution) for which he/she signs a Waiver of Notice and Consent.

 

The undersigned pledges his best efforts and promises to conduct himself in a professional manner in carrying out the duties as a Director of the company.  The undersigned promises not to divulge to others and will not use confidential or proprietary information of VTNL for his/her or anyone else's gain (during or after the time in which the undersigned is a company Director).  Unless as otherwise approved in advance by the VTNL Board of Directors, the undersigned promises that he or she will not serve as a director, officer, employee, agent or consultant to any competing business enterprise of VTNL's during the time in which he or she is a Director of the company.

 

It is understood that the company does not have errors and omissions insurance for management as of the date of this Agreement, however, the company will obtain such insurance, upon reasonably adequate terms, as soon as it can afford it.

  The company will pay the reasonable expenses of the undersigned in carrying out his duties as a Director; however, any expenses in excess of $25.00 must be approved in advance by the company.  Except to the extent not allowed by Montana law, the company hereby holds the undersigned harmless from liability to the company, its shareholders and any third parties for acts and omissions while a Director of the company and further agrees to indemnify and defend the undersigned in the event of any action taken by the company, its shareholders or third parties against the undersigned in his or her position as Director of the company.

 

1

 

Any disputes arising from this Agreement not resolved by the parties in a good faith, timely manner shall be arbitrated within Sanders County, Montana under the rules and procedures of the American Arbitration Association. Attorney fees and costs are to be awarded to the prevailing party.

 

Dated the 1st day of December 2017. 

 

/s/Edward J. Aruda                                                                                /s/Nathan E. Lewis  

Edward Aruda, Chairman                                                                     Proposed Director – Nathan E. Lewis8K Exhibit Removal of Board Members

Written Consent

In Lieu Of A Meeting

Of

The Stockholders

Of

Vet Online Supply Inc.

Removal of Board Members

 

The Undersigned, being the holder of 100% of the outstanding shares of Series B Voting Preferred Stock

(the “Control Shares”) of Vet Online Supply, Inc. a Florida corporation (the “Corporation”), in accordance with the provisions of section 607.0808 of the Florida Business Corporations act, hereby adopt the following resolution with the same force and effect as if presented to and adopted at a regular meeting of the stockholders of the Corporation, duly called and held on December 1, 2017:

 

Whereas, The Series B Voting Preferred Stock shall have the right to vote the shares on any matter requiring shareholder approval on the basis of 4 times the votes of all the issued and outstanding shares of common stock, as well as any issued and outstanding preferred stock.

 

WHEREAS, 607.0902 of the Florida Business Corporation Act states that, “As used in this section, “control shares” means shares that, except for this section, would have voting power with respect to shares of an issuing public corporation that, when added to all other shares of the issuing public corporation owned by a person or in respect to which that person may exercise or direct the exercise of voting power, would entitle that person, immediately after acquisition of the shares, directly or indirectly, alone or as a part of a group, to exercise or direct the exercise of the voting power of the issuing public corporation in the election of directors within any of the following ranges of voting power: (a) One-fifth or more but less than one-third of all voting power. (b) One-third or more but less than a majority of all voting power. (c) A majority or more of all voting power.”

 

WHEREAS, the vote of the Control Shares is sufficient to remove certain members of the Board of Directors of the Corporation because the Articles of Incorporation of the Corporation do not require cumulative voting for the election of directors or require the concurrence of more than two-thirds of the voting power of the issued and outstanding stock entitled to vote in order to remove one or more directors from office; 

WHEREAS, the Control Shares Stockholder believe it is in the best interest of the Corporation and the stockholders to remove Samuel Berry, Matthew Scott, and Daniel Rushford, from the Board of Directors of the Corporation, effective immediately. 

 

NOW, THERFORE, IT IS  

 

RESOLVED, that Samuel Berry, be, and hereby is, removed from the board of directors of the corporation, effective immediately;

 

RESOLVED, that Matthew Scott, be and hereby is, removed from the board of directors of the corporation, effective immediately; 

 

RESOLVED, that Daniel Rushford, be and hereby is, removed from the board of directors of the corporation effective immediately; 

 

RESOLVED, that this Written Consent may be executed in one or more counterparts, which taken together, shall constitute one legally binding Written Consent. 

 

RESOLVED, that when fully executed, these resolutions be filed with the Secretary of the Corporation and inserted into the minute books of the Corporation; 

 

IN WITNESS OF WHEREOF, the following have executed their written consent as of the date first written above. 

 

CONTROL SHARES STOCKHOLDER:

VET ONLINE SUPPLY, INC.

 

/s/Edward J. Aruda

Name: Edward J. Aruda

Number of Shares Voted: 20,000 Shares of Series B Voting Preferred Stock

!00% of Issued and Outstanding Series B Voting Preferred Stock8K Exhibit Appoint Board Member

Written Consent

In Lieu Of A Meeting

Of

The Stockholders

Of

Vet Online Supply Inc.

Appointment of Board Members

 

The Undersigned, being the holder of 100% of the outstanding shares of Series B Voting Preferred Stock

(the “Control Shares”) of Vet Online Supply, Inc. a Florida corporation (the “Corporation”), in accordance with the provisions of section 607.0808 of the Florida Business Corporations act, hereby adopt the following resolution with the same force and effect as if presented to and adopted at a regular meeting of the stockholders of the Corporation, duly called and held on December 1, 2017:

 

Whereas, The Series B Voting Preferred Stock shall have the right to vote the shares on any matter requiring shareholder approval on the basis of 4 times the votes of all the issued and outstanding shares of common stock, as well as any issued and outstanding preferred stock.

 

WHEREAS, 607.0902 of the Florida Business Corporation Act states that, “As used in this section, “control shares” means shares that, except for this section, would have voting power with respect to shares of an issuing public corporation that, when added to all other shares of the issuing public corporation owned by a person or in respect to which that person may exercise or direct the exercise of voting power, would entitle that person, immediately after acquisition of the shares, directly or indirectly, alone or as a part of a group, to exercise or direct the exercise of the voting power of the issuing public corporation in the election of directors within any of the following ranges of voting power: (a) One-fifth or more but less than one-third of all voting power. (b) One-third or more but less than a majority of all voting power. (c) A majority or more of all voting power.”

 

WHEREAS, the vote of the Control Shares is sufficient to appoint certain members of the Board of Directors of the Corporation because the Articles of Incorporation of the Corporation do not require cumulative voting for the election of directors or require the concurrence of more than two-thirds of the voting power of the issued and outstanding stock entitled to vote in order to appoint one or more directors; 

WHEREAS, the Control Shares Stockholder believe it is in the best interest of the Corporation and the stockholders to appoint Nathan Edward Lewis to the position of Director, effective immediately. 

 

NOW, THERFORE, IT IS  

 

RESOLVED, that Nathan Edward Lewis, be, and hereby is, appointed to the board of directors of the corporation, effective immediately;

 

RESOLVED, that this Written Consent may be executed in one or more counterparts, which taken together, shall constitute one legally binding Written Consent. 

 

RESOLVED, that when fully executed, these resolutions be filed with the Secretary of the Corporation and inserted into the minute books of the Corporation; 

 

IN WITNESS OF WHEREOF, the following have executed their written consent as of the date first written above. 

 

CONTROL SHARES STOCKHOLDER:

VET ONLINE SUPPLY, INC.

 

/Edward J. Aruda/

Name: Edward J. Aruda

Number of Shares Voted: 20,000 Shares of Series B Voting Preferred Stock

!00% of Issued and Outstanding Series B Voting Preferred Stock

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