Document:

Exhibit
4.3

 

 

    	 		 

     

    

 

AMENDED
AND RESTATED CERTIFICATE OF DESIGNATIONS OF THE

SERIES C CONVERTIBLE PREFERRED STOCK OF

BOXLIGHT CORPORATION

 

PURSUANT
TO SECTION 78.195

OF THE NEVADA REVISED STATUTES

 

I,
Sheri Lofgren, hereby certify that I am the Chief Financial Officer of Boxlight Corporation, formerly, known as Logical Choice
Corporation (the “Corporation”), a corporation organized and existing under the Nevada Revised Statutes, and further
do hereby certify:

 

That
pursuant to the authority expressly conferred upon the Board of Directors of the Corporation (the “Board”) by the
Corporation’s Articles of Incorporation, as amended (the “Articles of Incorporation”), the Board on September
28, 2015, adopted the following resolutions creating a series of preferred stock designated as Series C Convertible Preferred
Stock, none of which have been issued:

 

RESOLEVED
that these Amended and Restated Certificate of Designations of the Series C Preferred Stock shall restate in their entirety, the
Certificate of Designations for the Series C Preferred Stock filed pursuant to Section 78.195 of the NRS on September 24, 2015,
as amended on September 28, 2015; and

 

RESOLVED,
that the Board designates the Series C Convertible Preferred Stock and the number of shares constituting such series, and fixes
the rights, powers, preferences, privileges and restrictions relating to such series in addition to any set forth in the Articles
of Incorporation as follows:

 

TERMS
OF SERIES C CONVERTIBLE PREFERRED STOCK

 

ARTICLE
I Designation and Number.

 

1.1
A series of Preferred Stock, designated as Series C Convertible Preferred Stock (“Series C Preferred Stock”), par
value $0.0001 per share, is hereby established. The number of authorized shares of Series C Preferred Stock shall initially be
270,000 shares (as adjusted, pursuant to Section Article IV, the “Authorized Shares”), and the stated value amount
per share of Series C Preferred Stock shall be $22.20 (the “Stated Value Per Share”), or $5,994,018 as to all shares
of Series C Preferred Stock. 

 

1.2
Pursuant to the Share Purchase Agreement, the Company acquired a minimum of 82.28% of the issued and outstanding common shares
of Everest Display, Inc. and may acquire additional common shares of Everest Display, Inc.

 

1.3
The Series C Preferred Stock is being issued pursuant to the terms of the Everest Option Agreement. 

 

1.4
As used in this Certificate, the term “Automatic Conversion Shares” shall mean the aggregate number of shares of Company
Class A Common Stock issuable upon the automatic conversion of all of the Series C Preferred Stock into such Class A Common Stock
upon the occurrence of a Liquidity Event; being that number of shares of Class A Common Stock resulting from (a) multiplying the
final percentage of the issued and outstanding common shares of Everest Display, Inc. acquired by the Company by not less than
82.28% of Ten Million ($10,000,000) Dollars, or Eight Million Two Hundred Twenty Eight Thousand ($8,228,000) Dollars, and (b)
dividing the product thereof by the Per Share Price; provided,
that, the Automatic Conversion Shares being that number of shares of Class A Common
Stock which shall represent not less than 20.575% and not more than 25.00% of the Fully-Diluted Common Stock of the Corporation.
For the avoidance of doubt, in connection with the contemplated IPO, and after giving effect to a contemplated series of reverse
stock splits aggregating a 1:12.54 reverse stock split (one full share for each 12.54 shares previously outstanding) of the outstanding
Common Stock of the Corporation, the Automatic Conversion Shares will be 999,003 shares of Class A Common Stock and, together
with the Bonus Shares contemplated by the Share Purchase Agreement, such Automatic Conversion Shares shall be an aggregate of
1,078,923 shares of Class A Common Stock, or approximately 22.22% of the Fully-Diluted Common Stock of the Corporation. In the
event that such reverse stock split ratio shall be other than 1:12.54, then the number of shares of Series A Common Stock issuable
as Automatic Conversion Shares shall change, but the aggregate number of shares of such Class A Common Stock upon the occurrence
of a Liquidity Event shall continue to represent not less than 20.575% and not more than 25.00% of the Fully-Diluted Common Stock
of the Corporation.

 

    	 

    	 

    

  

1.5
As used in this Certificate, the term “Everest Option Agreement” shall mean the option agreement, dated as of January
20, 2015, as amended on March 27, 2015 and as further amended on June 1, 2015, July 10, 2014 and September 30, 2015, among the
Corporation, K Laser Technology, Inc. and other parties thereto.

 

1.6
As used in this Certificate, the term “Fully-Diluted Common Stock” shall have the same meaning as the definition of
“Fully-Diluted Common Stock of the Parent” as set forth in the Share Purchase Agreement.

 

1.7
As used in this Certificate, the term “Holder” shall mean one or more holder(s) of shares of Series C Preferred Stock.

 

1.8
As used in this Certificate, the term “Majority Holders” shall mean those persons who were issued a majority of the
shares of Series C Preferred Stock pursuant to the terms of the Everest Option Agreement to the extent that such persons continue
to own capital stock in the Corporation.

 

1.9
As used in this Certificate, the term “Share Purchase Agreement” shall mean the share purchase agreement dated as
of as of January 20, 2015, as amended on March 27, 2015 and as further amended on June 1, 2015, July 10, 2015 and September 30,
2015, among K Laser Technology, Inc., Boxlight Display, Inc., and the other Majority Shareholders (as defined in the Share Purchase
Agreement), the Corporation and Vert Capital Corp.

 

1.10
As used in this Certificate, the term “Liquidity Event” shall have the meaning as such term is defined in the Share
Purchase Agreement.

 

1.11
As used in this Certificate, the term “Market Value” shall have the meaning as such term is defined in the Share Purchase
Agreement.

 

1.12
As used in this Certificate, the term “Per Share Price” shall have the meaning as such term is defined in Section
1.6 of the Share Purchase Agreement.

 

1.13
As used in this Certificate, the term “IPO” shall have the meaning as such term is defined in Section 1.6 of the Share
Purchase Agreement.

 

1.14
The term “Company” as used in the Share Purchase Agreement and in the Option Agreement shall mean the Corporation.

 

ARTICLE
II RANK. All shares of the Series C Preferred Stock shall rank senior to (i) to the Corporation’s Common Stock,
$0.0001 par value per share, of the Corporation (the “Common Stock”) and any other class of securities which is specifically
designated as junior to the Series C Preferred Stock (collectively, with the Common Stock, the “Junior Securities”);
and (ii) pari passu with any other class or series of Preferred Stock of the Corporation hereafter created specifically
ranking, by its terms, on parity with the Series C Preferred Stock, including without limitation, 2,500,000 shares of Series A
Preferred Stock, $1.00 stated value per share, 1,000,000 shares of Series B Preferred Stock, $1.00 stated value per share and
all other shares of Preferred Stock of the Corporation (other than the Series C Preferred Stock) to be issued in series in connection
with the “Acquisitions” of the “Target Companies,” as those terms are defined in the Everest Option Agreement,
and to any notes, convertible securities or class or series of capital stock of the Corporation (including Preferred Stock) hereafter
issued for the purpose of consummating any public or private financing (collectively, the “Pari Passu Securities”),
in each case as to distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or
involuntary.

 

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ARTICLE
III Dividends.

 

3.1
The Holders shall be entitled to receive if, at the times set forth in this Section 0, cumulative annual dividends per share equal
to six percent (6%) of the aggregate Liquidation Preference (hereinafter defined) of the issued and outstanding Series C Preferred
Stock. Accrual of such dividends shall be computed on a 365-day basis, and shall be payable in full when the Series C Preferred
Stock is redeemed by the Corporation in the manner provided in paragraph (Article II) below. Such
dividends shall be payable annually each anniversary of the issue date of the Series C Preferred Stock in additional shares of
Series C Preferred Stock, and such dividends shall accrue whether or not declared and regardless of whether there are profits,
surplus or other funds legally available for payment of dividends, and shall be earned or payable from and after the issue date
of the Series C Preferred Stock. All dividends paid with respect to shares of Series C Preferred Stock pursuant to this
Section 0 shall be paid pro rata to the Holders entitled thereto. Dividends on the Series C Preferred Stock may not be declared,
paid or set apart for payment, nor may the Corporation redeem, purchase or otherwise acquire any shares of Series C Preferred
Stock, if the Corporation is not solvent or would be rendered insolvent thereby.

 

3.2
Except as otherwise set forth in this Section 0, the Series C Preferred Stock shall not pay a fixed or other dividend. The Holders
shall, however, be entitled to receive dividends when, as, and if declared by the Board, in an amount which shall be paid pro
rata on the Common Stock and the Series C Preferred Stock, on an equal priority, pari passu basis, according to the number
of shares of Common Stock held by the stockholders, where each Holder is to be treated for this purpose as holding (in lieu of
such shares of Series C Preferred Stock) the greatest whole number of shares of Common Stock then issuable upon conversion in
full of such shares of Series C Preferred Stock. The right to such dividends on shares of Series C Preferred Stock shall not be
cumulative, and no right shall accrue to Holders by reason of the fact that dividends on said shares are not declared in any period,
nor shall any undeclared or unpaid dividend bear or accrue interest.

 

ARTICLE
IV LIQUIDATION PREFERENCE. In the event of a merger, sale (of substantially all assets or stock), any voluntary or involuntary
liquidation, dissolution or winding up of the affairs of the Corporation, then, either (i) simultaneous with any distribution
or payment on Pari Passu Securities, and (ii) before any distribution or payment shall be made to the holders of the Common Stock
or any other Junior Securities, each Holder of Series C Preferred Stock then outstanding shall be entitled to be paid, out of
the assets of the Corporation available for distribution to its stockholders, an amount (the “Liquidation Preference”)
equal to (i) the product of (A) the aggregate number of shares of Series C Preferred Stock then outstanding, (B) the Stated Value
Per Share and (C) a multiple of 3.71 plus (ii) any accrued but unpaid dividends. If the assets of the Corporation are not sufficient
to generate cash sufficient to pay in full the Liquidation Preference, then the Holders of Series C Preferred Stock shall share
ratably (together with holders of any Pari Passu Securities) in any distribution of cash generated by such assets in accordance
with the respective amounts that would have been payable in such distribution as if the amounts to which the Holders of outstanding
shares of Series C Preferred Stock are entitled were paid in full.

 

ARTICLE
V VOTING RIGHTS. Each share of Series C Preferred Stock shall have a number of votes equal to the number of shares of Common
Stock then issuable upon conversion of each share of Series C Preferred Stock. Except as otherwise set forth herein, the Holders
shall have no right to vote as a separate class on any matter submitted to vote by the stockholders of the Corporation, excluding,
however, any proposed amendment that would alter any right given to the Series C Preferred Stock; in which event the Series C
Preferred Stock may vote as a separate class with respect to such amendment. Holders shall be entitled to notice of any stockholders’
meeting in accordance with the Bylaws of the Corporation and shall vote with holders of the Common Stock upon the election of
directors and upon any other matter submitted to a vote of stockholders. Fractional votes by the Holders shall not, however, be
permitted and any fractional voting rights resulting from the above formula (after aggregating all shares into which shares of
Series C Preferred Stock held by each Holder could be converted) shall be rounded to the nearest whole number (with one-half being
rounded upward).

 

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ARTICLE
VI Conversion.

 

6.1
Conversion Ratio. Each full share of Series C Preferred Stock shall be convertible into Company Class A Common Stock of
the Corporation, at any time, into that number of shares of Company Class A Common Stock at a conversion ratio per share of Series
C Preferred Stock as shall be determined by dividing (A) the number of Authorized Shares, by (B) that number of shares of Common
Stock equal to the number of Automatic Conversion Shares (the
“Series C Conversion Ratio”). Accordingly the initial conversion ratio (the
“Conversion Ratio”), shall be determined by dividing one share of the Series
C Preferred Stock by the Series C Conversion Ratio; provided,
that, depending upon the final percentage of the “Existing Everest Shares”
(as defined in the Share Purchase Agreement) that is acquired by the Corporation the number of Conversion Shares (defined below)
and the Series C Conversion Ratio shall result in all of the Conversion Shares having a Market Value of not less than Eight Million
Two Hundred and Twenty Eight Thousand ($8,228,000) Dollars, and shall result in all of the Conversion Shares representing not
less than 20.575% of the Fully-Diluted Company Common Stock and not more than 25.0% of the Fully-Diluted Company Common Stock.

 

For
the avoidance of doubt, in the event and to the extent that the Automatic Conversion Shares shall represent less than 20.575%
of the Fully-Diluted Common Stock (subject to increase, as provided above, if the Corporation acquires in excess of 82.28% of
the Existing Everest Shares under the Share Purchase Agreement), upon the optional or automatic conversion of the Series C Preferred
Stock, the Holders of Series C Preferred Stock shall be entitled to receive, in addition to such Automatic Conversion Shares,
the “Adjustment Shares” as defined in the Everest Option Agreement. In addition, if the product of multiplying the
Per Share Price by the number of Automatic Conversion Shares shall result in a Market Value of less than $8,228,000 (subject to
increase as provided above), the number of Automatic Conversion Shares shall similarly be subject to increase by the issuance
of additional shares of Common Stock.

 

6.2
Optional Conversion. The Holders
of shares of Series C Preferred Stock may, at their option and at any time or from time to time, convert all or any portion of
their shares of Series C Preferred Stock into Common Stock of the Corporation at any time or from time to time (an “Optional
Conversion”). In order to effect an Optional Conversion, a Holder of shares of Series C Preferred Stock shall: (i) fax (or
otherwise deliver) a copy of the fully executed Notice of Conversion to the Corporation (Attention: Secretary) and (ii) surrender
or cause to be surrendered the original certificates representing the Series C Preferred Stock being converted (the “Series
C Preferred Stock Certificates”), duly endorsed, along with a copy of the Notice of Conversion as soon as practicable thereafter
to the Corporation. Upon receipt by the Corporation of a facsimile copy of a Notice of Conversion from a Holder, the Corporation
shall promptly send, via facsimile, a confirmation to such Holder stating that the Notice of Conversion has been received, the
date upon which the Corporation expects to deliver the Common Stock issuable upon such conversion and the name and telephone number
of a contact person at the Corporation regarding the conversion. The Corporation shall not be obligated to issue shares of Common
Stock upon a conversion unless either the Series C Preferred Stock Certificates are delivered to the Corporation as provided above,
or the Holder notifies the Corporation that such Series C Preferred Stock Certificates have been lost, stolen or destroyed and
delivers the documentation to the Corporation.

 

6.3
Automatic Conversion. Notwithstanding anything to the contrary contained herein, express or implied, but subject at all
times to the adjustment provisions of Section 6.4 below, immediately following the occurrence of (i) a Liquidity Event and (ii)
the exercise of the Option (as defined in the Option Agreement), all, and not less than all, of the then issued and outstanding
shares of Series C Preferred Stock shall automatically, and without any further action on the part of the Corporation or the Holder,
be converted (an “Automatic Conversion”) into that number of Automatic Conversion Shares that shall (a) have an aggregate
Market Value of not less than $8,228,000, and (b) represent not less than 20.575% of the Fully-Diluted Common stock and not more
than 25.0% of the Fully-Diluted Common Stock, less the
aggregate number of shares of Common Stock previously issued in connection with any one or more Optional Conversions contemplated
by Section 4.2 above. Each Holder of Series C Preferred Stock shall be entitled to receive his, her or its pro-rata portion of
the Automatic Conversion Shares determined by the amount by which the number of shares of Common Stock into which all of such
Holder’s shares of Series C Preferred Stock may be converted pursuant to the Conversion Ratio, bears to the total number
of Automatic Conversion Shares. 

 

For
the avoidance of doubt, in connection with the contemplated IPO, and after giving effect to a 1:12.54 reverse stock split of the
outstanding Common Stock of the Corporation, the Automatic Conversion Shares will be 999,003 shares of Class A Common Stock and,
together with the Bonus Shares contemplated by the Share Purchase Agreement, such Automatic Conversion Shares shall be an aggregate
of 1,078,923 shares of Class A Common Stock, or approximately 22.22% of the Fully-Diluted Common Stock of the Corporation. In
the event that such reverse stock split ration shall be other than 1:12.54, then the number of shares of Series A Common Stock
issuable as Automatic Conversion Shares shall change, but the aggregate number of shares of such Class A Common Stock upon the
occurrence of a Liquidity Event (including the Bonus Shares) shall continue to represent not less than 22.22% and not more than
25.00% of the Fully-Diluted Common Stock of the Corporation.

 

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6.4 Adjustment for
Reclassification, Exchange, and Substitution. If at any
time or from time to time after the date upon which the first share of Series C Preferred Stock was issued by the Corporation
(the “Original Issue Date”), the shares of Company Class A Common Stock issuable upon the conversion of the
Series C Preferred Stock shall be changed into the same or a different number of shares of any class or classes of stock,
whether by recapitalization, reclassification, reorganization, merger, exchange, consolidation, sale of assets or otherwise,
then, in any such event, Holders shall have the right thereafter to convert such stock into the kind and amount of stock and
other securities and property receivable upon such recapitalization, reclassification, reorganization, merger, exchange,
consolidation, sale of assets or other change by a holder of the number of shares of Company Class A Common Stock into which
such shares of Series C Preferred Stock could have been converted immediately prior to such recapitalization,
reclassification, reorganization, merger, exchange, consolidation, sale of assets or other change, or with respect to such
other securities or property by the terms thereof.

 

6.5
Adjustment Upon Common Stock Event. In the event that a Common
Stock Event occurs at any time or from time to time after the Original Issue Date, the aggregate number of shares of Common Stock
into which the Series C Preferred Stock may be converted (the “Conversion Shares”) in effect immediately prior to
such event shall, simultaneously with the occurrence of such Common Stock Event, shall be proportionately decreased or increased,
as appropriate. The Conversion Shares shall be readjusted in the same manner upon the happening of each subsequent Common Stock
Event. As used herein, the term “Common Stock Event” shall mean: (a) the declaration or payment of any dividend or
other distribution on the Common Stock, without consideration, payable to one or more stockholders in additional shares of Company
Class A Common Stock or other securities or rights convertible into, or entitling the holder thereof to receive, directly or indirectly,
additional shares of Common Stock; (b) a subdivision (by stock split, reclassification or otherwise) of the outstanding shares
of Common Stock into a greater number of shares of Common Stock; or (c) a combination or consolidation (by reverse stock split)
of the outstanding shares of Common Stock into a smaller number of shares of Common Stock.

 

6.6
Adjustment of Series C Conversion Price Upon Issuance of Additional Shares of Common Stock.
In the event the Corporation shall, at any time after the Original Issue Date and prior to a Liquidity Event, issue additional
shares of Company Class A Common Stock or Preferred Stock that is convertible into shares of Common Stock, then the Series C Conversion
Price and the Conversion Ratio shall be adjusted concurrently with such issue, so that the Series C Preferred Stock shall continue
to represent not less than twenty percent (20%) of the Fully-Diluted Common Stock of Company.

 

6.7 Reservation
of Stock Issuable Upon Conversion. The Corporation shall at
all times reserve and keep available out of its authorized but unissued shares of Company Class A Common Stock, solely for the
purpose of effecting the conversion of the shares of the Series C Preferred Stock such number of its shares of Company Class A
Common Stock as shall from time to time be sufficient to effect the conversion of all outstanding shares of the Series C Preferred
Stock; and if at any time the number of authorized but unissued shares of Company Class A Common Stock shall not be sufficient
to effect the conversion of all then outstanding shares of the Series C Preferred Stock, the Corporation will take such corporate
action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Company Class A Common
Stock to such number of shares as shall be sufficient for such purpose, including, without limitation, engaging in best efforts
to obtain the requisite stockholder approval of any necessary amendment to the Corporation’s Articles of Incorporation.

 

6.8
Fractional Shares. No fractional share shall be issued upon
the conversion of any share or shares of Series C Preferred Stock. All shares of Common Stock (including fractions thereof) issuable
upon conversion of more than one share of Series C Preferred Stock by a Holder thereof shall be aggregated for purposes of determining
whether the conversion would result in the issuance of any fractional share.

 

ARTICLE
VII NO REISSUANCE OF SERIES C PREFERRED STOCK. No share or shares of Series C Preferred Stock acquired by the Corporation
by reason of redemption, purchase, conversion or otherwise shall be reissued, and all such shares shall be canceled, retired and
eliminated from the shares which the Corporation shall be authorized to issue.

 

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ARTICLE
VIII REDEMPTION. The Series C Preferred Stock is not redeemable.

 

ARTICLE
IX NOTICE. Except as may otherwise be provided for herein, all notices referred to herein shall be in writing, and all notices
hereunder shall be deemed to have been given upon the earlier of receipt of such notice or four business days after the mailing
of such notice, if sent by registered mail, with postage pre-paid, addressed: (1) if to the Corporation, to the attention of its
corporate secretary or to an agent of the Corporation designated as permitted by the Corporation’s Articles of Incorporation,
as amended; (2) if to any Holder, to such Holder at the address of such Holder as listed in the stock record books of the Corporation
(which may include the records of the Corporation’s transfer agent); or (3) to such other address as the Corporation or
Holder, as the case may be, shall have designated by notice similarly given.

 

ARTICLE
X AMENDMENT. This Certificate of Designation or any provision hereof may be amended by obtaining the affirmative vote at a
meeting duly called for such purpose, or written consent without a meeting in accordance with the Nevada Revised Statutes, of
(i) a majority of the outstanding Series C Preferred Stock, voting separate as a single class, and (ii) with such other stockholder
approval, if any, as may then be required pursuant to the Nevada Revised Statutes and the Articles of Incorporation.

 

ARTICLE
XI LIMITATION ON TRANSFER.

 

11.1
The, sale, offer to sell, contract to sell, assignment, pledge, hypothecation, encumbrance or other transfer (collectively, “Transfer”),
directly or indirect, by any Holder or holder of the Conversion Shares issuable upon conversion of such shares of Series C Preferred
Stock, including (i) the use of the any shares of Series C Preferred Stock or Conversion Shares (collectively, “Capital
Stock”) as collateral for any borrowing, or (ii) the granting of purchase options to any other person or entity, shall be
prohibited until 180 days from the date of this Certificate of Designation; provided,
however, that a Transfer by a holder of Capital Stock (a “Capital Stock Holder”),
(certified by such Capital Stock Holder to the Corporation that such Transfer is for estate planning purposes), to (A) an immediate
family member (child, sibling, spouse or Company); (B) a trust, corporation, partnership, limited partnership or limited liability
Corporation that is an “affiliate” (at that term is defined in Rule 405 promulgated under the Securities Act of 1933,
as amended) of such Capital Stock Holder; or (C) in the case of a Capital Stock Holder that is an entity, stockholders, members,
partners or other equity holders of such Capital Stock Holder shall be permitted. To the extent of any permitted Transfer, the
transferee of such transferred Capital Stock shall acquire the same subject to the provisions set forth herein. 

 

11.2
In the event of any stock dividend, stock split, recapitalization, or other change affecting the Corporation’s outstanding
Common Stock effected without receipt of consideration, then any new, substituted, or additional securities distributed to a Holder
with respect to Capital Stock shall be immediately subject to the provisions of this Section Article IX, to the same extent the
Capital Stock is at such time covered by such provisions.

 

11.3
In addition to any restrictive legend required under Rule 144, the certificate for each share of Series C Preferred Stock and
Conversion Shares shall contain the following legend: 

 

“Except
in limited circumstances, the sale, offer to sell, contract to sell, assignment, pledge, hypothecation, encumbrance or other transfer
(collectively, “Transfer”) of the shares represented by this certificate are restricted in accordance with the provisions
of the Certificate of Designations of the Series C Preferred Stock, dated September 30, 2015, a copy of which is available at
the offices of the Corporation.”

 

11.4
Any purported Transfer of any of the Capital Stock that is not in accordance with this Section Article IX shall be null and void,
and shall not operate to transfer any right, title or interest in such Capital Stock to the purported transferee. Each Holder
of Capital Stock agrees that the Corporation shall be entitled to prohibit the Transfer of any Capital Stock to be made on its
books unless the Transfer is permitted hereunder and has been made in accordance herewith. 

 

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ARTICLE
XII Protective Provisions.

 

So
long as any shares of Series C Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries
to, take or agree to take any of the following corporate actions (whether by merger, consolidation or otherwise) without first
obtaining the approval (by vote or written consent) of the Holders of a majority of the issued and outstanding Series C Preferred
Stock (the “Series C Majority Holders”):

 

12.1
alter or change the rights, preferences or privileges of the Series C Preferred Stock, or increase the authorized number of shares
of Series C Preferred Stock in excess of 270,000 Shares; or

 

12.2
issue any shares of Series C Preferred Stock to Persons, other than to Option Holders pursuant to the Option Agreement; or create
or authorize the creation of or issue any shares of Preferred Stock or any other security convertible or exercisable for any equity
security having rights, preferences or privileges senior to or on parity with the Series C Preferred Stock.

 

ARTICLE
XIII Co-Sale Rights.

 

13.1
If a Holder proposes to sell any shares of its Series C Preferred Stock (the “Selling Holder”) then the Selling Holder
shall promptly give written notice (the “Notice”) to each of the other Holders at least 30 days prior to the closing
of such sale. The Notice shall describe in reasonable detail the proposed sale including, without limitation, the number of shares
of Series C Preferred Stock to be transferred, the nature of such sale, the consideration to be paid, and the name and address
of each prospective purchaser or transferee.

 

13.2
Each other Holder (the “Participating Holder”) shall have the right, exercisable upon written notice to such Selling
Holder within 15 days of the Notice, to participate in such sale of Series C Preferred Stock on the same terms and conditions.
Such notice shall indicate the number of shares of Series C Preferred Stock such Participating Holder wishes to sell.

 

(a)
Each Participating Holder shall effect its participation in the sale by promptly delivering to such Selling Holder for transfer
to the prospective purchaser one or more certificates, properly endorsed for transfer, which represent the number of shares of
Series C Preferred Stock which such Participating Holder elects to sell.

 

(b)
The stock certificate or certificates that the Participating Holder delivers to such Selling Holder shall be transferred to the
prospective purchaser in consummation of the sale of the Series C Preferred Stock pursuant to the terms and conditions specified
in the Notice, and the Selling Holder shall concurrently therewith remit to such Participating Holder that portion of the sale
proceeds to which such Participating Holder is entitled by reason of its participation in such sale. To the extent that any prospective
purchaser or purchasers prohibits such assignment or otherwise refuses to purchase shares or other securities from a Participating
Holder exercising its rights of co-sale hereunder, such Selling Holder shall not sell to such prospective purchaser or purchasers
any Series C Preferred Stock held by Selling Holder unless and until, simultaneously with such sale, such Selling Holder shall
purchase such shares or other securities from such Participating Holder on the same terms and conditions specified in the Notice.

 

(c)
To the extent that the Participating Holders do not elect to participate in the sale of the Series C Preferred Stock held by such
Selling Holder subject to the Notice, such Selling Holder may enter into an agreement providing for the closing of the sale of
such Series C Preferred Stock within thirty (30) days of such agreement on terms and conditions not materially more favorable
to the transferor than those described in the Notice. Any proposed sale on terms and conditions materially more favorable than
those described in the Notice, as well as any subsequent proposed sale of any of the Series C Preferred Stock by a Selling Holder,
shall again be subject to the co-sale rights of the Participating Holders and shall require compliance by a Selling Holder with
the procedures described in this Section 13.

 

ARTICLE
XIV Miscellaneous.

 

14.1
Cancellation of Series C Preferred Stock. If any shares of
Series C Preferred Stock are converted pursuant to this Certificate of Designations, the shares so converted or redeemed shall
be canceled, shall return to the status of authorized, but unissued Series C Preferred Stock of no designated series, and shall
not be issuable by the Corporation as Series C Preferred Stock.

 

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14.2
Lost or Stolen Certificates. Upon receipt by the Corporation
of (i) evidence of the lost, theft, destruction or mutilation of any Series C Preferred Stock Certificate(s) and (ii) (y) in the
case of loss, theft or destruction, indemnity (without any bond or other security) reasonably satisfactory to the Corporation,
or (z) in the case of mutilation, the Series C Preferred Stock Certificate(s) (surrendered for cancellation), the Corporation
shall execute and deliver new Series C Preferred Stock Certificate(s) of like tenor and date. However, the Corporation shall not
be obligated to reissue such lost, stolen, destroyed or mutilated Series C Preferred Stock Certificate(s) if the Holder contemporaneously
requests the Corporation to convert such Series C Preferred Stock.

 

14.3
Waiver. Notwithstanding any provision in these Certificate
of Designations to the contrary, any provision contained herein and any right of the Holders of Series C Preferred Stock granted
hereunder may be waived as to all shares of Series C Preferred Stock (and the Holders thereof) upon the written consent of the
Series C Majority Holders, unless a higher percentage is required by applicable law, in which case the written consent of the
Holders of not less than such higher percentage of shares of Series C Preferred Stock shall be required.

 

14.4
Information Rights. So long as shares of Series C Preferred
Stock are outstanding, the Corporation will deliver to each Holder of Series C Preferred Stock (i) unaudited annual financial
statements to the Holders of Series C Preferred Stock within 90 days after the end of each fiscal year; (ii) and unaudited quarterly
financial statements within 45 days of the end of each fiscal quarter. Notwithstanding the foregoing in the event and to the extent
that such information is electronically available on the web site of the Securities and Exchange Commission (www.sec.gov), the
Corporation need not separately furnish such documents to Holders of the Series C Preferred Stock.

 

Balance
of this page intentionally left blank – signature page follows

 

    	8

    	 

    

 

The
undersigned declares under penalty of perjury under the laws of the State of Nevada that the matters set forth in this certificate
are true and correct of his own knowledge.

 

The
undersigned has executed this restated certificate of designations on October 2, 2015.

 

	 	BOXLIGHT
    CORPORATION 
	 	 	 
	 	 	/s/
    Sheri Lofgren 
	 	Name:	Sheri
    Lofgren 
	 	Title:
    	Chief
    Financial Officer

 

    	9STOCK
TRANSFER AGREEMENT

 

THIS
STOCK EXCHANGE AGREEMENT (this “Agreement”), is made and entered this March 31, 2015, to be effective
as of the “IPO Effective Date” (hereinafter defined): (A) Boxlight Corporation (formerly, Logical Choice
Corporation), a Nevada corporation (the “Company”); (C) Logical Choice Corporation, a Delaware corporation
(“LCC”); and (C) Vert Capital Corp., a Delaware corporation (“Vert”, on behalf of
itself and as trustee and escrow agent (the “Escrow Agent”) for the existing holders of Series A preferred
stock of LCC who are listed on Exhibit A annexed hereto and made a part hereof (collectively, the “LCT
Minority Stockholders”). The Company, LCC and Vert are sometimes referred to individually as a “Party”
and collectively as the “Parties.” 

 

WITNESSETH:

 

WHEREAS,
in 2013, LCC was formed by Vert, the owner of 100% of the shares of the common stock of LCC, $0.001 par value per share (the
“LCC Common Stock”); and

 

WHEREAS,
in October 2013, LCC acquired, pursuant to an agreement and plan of merger, 100% of the capital stock of Logical Choice Technologies,
Inc., a Georgia corporation (“LCT”) in exchange for shares of Series A convertible preferred stock of LCC
(the “LCT Series A Preferred”), and Vert is currently the owner of a majority of the outstanding capital stock
of LCT; and

 

WHEREAS,
LCC and LCT has previously sold a division of LCT to an affiliate of Cynthia Kaye (the “LCT Majority Stockholder”),
who has released LCC from any claims to equity of LCC; and

 

WHEREAS,
LCT has subsequently ceased operations and is in the process of liquidation;and

 

WHEREAS,
on September 18, 2014, the Company was organized by Vert as a Nevada corporation to acquire companies engaged in the production,
sale and distribution of products and services primarily used by schools, corporations and governmental agencies for educational
and training purposes (the “Business Strategy”);; and

 

WHEREAS,
the Company is in the process of completing an initial public offering (the “IPO”) of common stock, $0.0001
par value per share of the Company (the “Company Common Stock”); and

 

WHEREAS,
in order to provide the LCT Minority Stockholders with the benefits they would have received had LCC remained in business, on
the date that the registration statement on Form S-1 shall be declared effective by the Securities and Exchange Commission (the
“IPO Effective Date”), the Company shall issue to Vert, as trustee and escrow agent for the LCT Minority Stockholders,
2,500,000 shares of Series A convertible preferred stock of the Company, $0.0001 par value and $1.00 per share liquidation or
stated value, or such lesser number of shares of Series A preferred stock of the Company resulting from any reverse split of the
outstanding capital stock of the Company effected by the Company on or before the IPO Effective Date (the “Company Series
A Preferred Stock”); and 

 

    	- 1 -

    	 

    

 

WHEREAS,
Vert and the board of directors of the Company, LCC and LCT have determined to that the issuance of the Company Series A Preferred
Stock is fair and reasonable to the LCT Minority Stockholders and in the best interests of all parties;

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be
legally bound hereby, the Parties hereto hereby agree as follows:

 

		1.	Agreements
                                         of the Parties.

 

(a)
As at the IPO Effective Date, the Company will issue in the name of Vert a stock certificate evidencing the Company Series A Preferred
Stock. Such Series A Preferred Stock shall be held in trust by Vert for the sole benefit of the LCT Minority Stockholders.

 

(b)
As set forth in the certificate of designations for the Company Series A Preferred Stock annexed hereto as Exhibit B and
made a part hereof (the “Certificate of Designations”), on a date which shall be one (1) year from the
IPO Effective Date, all and not less than all of the shares of Company Series A Preferred Stock, shall automatically
and without any further action or consent of the Parties or the LCT Minority Stockholders, convert into a like number of shares
of Class A Common Stock of the Company.

 

(c)
Following the IPO Effective Date, the Company shall file with the Securities and Exchange Common (the “SEC”)
a registration statement on Form S-1, or other form for registering securities, pursuant to which, inter alia, all of the shares
of Class A Common Stock of the Company issuable upon automatic conversion of the Company Series A Preferred Stock (the “Conversion
Shares”) shall be registered for resale under the Securities Act of 1933, as amended (the “Resale Registration
Statement”). The Company shall use its best efforts to cause such Resale Registration Statement to be declared effective
by the SEC witin one (1) year from the IPO Effective Date.

 

(d)
On a date which shall be the later to occur of (i) one year from the IPO Effective Date, or (ii) the effective date of the Resale
Registration Statement, Vert shall deliver the stock certificate evidencing the Company Series A Preferred Stock to the Company
and the Company shall issue and distribute to the LCT Minority Stockholders all of the shares of Class A common stock of the Company
issuable to the LCT Minority Stockholders upon conversion of such Company Series A Preferred Stock (the “Conversion Shares”).

 

(e)
The names of each of the LCT Minority Stockholders and the number of shares of Company Series A Preferred Stock and Conversion
Shares (assuming a 1:7.665 reverse split of the currently outstanding shares of Company Common Stock) is set forth on Exhibit
A annexed hereto and made a part hereof.

 

(f)
As a condition to receipt of their Conversion Shares, each LCT Minority Stockholder shall acknowledge in a writing acceptable
to the Company that (i) such LCT Minority Stockholder has no further claim to any equity of LCT, the Company or LCC, (ii) such
LCT Minority Stockholder releases each of the Parties to this Agreement from all further claims, demands or causes of action in
respect of all events up to and including the date of such release, and (iii) the information contained in the Resale Registration
Statement with regard to such LCT Minority Stockholder is complete and correct in all material respects.

 

    	- 2 -

    	 

    

 

		2.	Miscellaneous.

 

(a)
Notices. All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed to
have been duly given or made on (i) delivery thereof, if by hand; (ii) upon receipt, if sent by mail (registered or certified
mail, postage prepaid, return receipt requested); (iii) on the second Business Day following deposit, if sent by a recognized
overnight delivery service; or (d) upon transmission, if sent by facsimile transmission (in each case with receipt verified by
electronic confirmation), in each case to the same parties and to the same addresses as are set forth in the Prior Exchange Agreement.
provided, however,
that each party hereto shall promptly notify the other Parties hereto of any change in its contact information, which revised
contact information shall thereafter be that Party’s contact information for purposes of this Agreement until further revised.

 

(b)
Entire Agreement. This Agreement (including the Exhibit hereto) contain the entire agreement among the Parties with respect
to the subject matter hereof and related transactions and supersede all prior agreements, written or oral, with respect thereto.

 

(c)
Termination. In the event that the IPO Effective Date shall not occur by December 31, 2015, then this Agreement shall terminate,
ab initio.

 

(d)
Waivers and Amendments. This Agreement may be amended, modified, superseded, cancelled, renewed or extended, and the terms
and conditions hereof may be waived, only by a written instrument signed by the Parties hereto or, in the case of a waiver, by
the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate
as a waiver thereof, nor shall any waiver on the part of any party of any right, power or privilege hereunder, nor any single
or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise
of any other right, power or privilege hereunder. The rights and remedies herein provided are cumulative and are not exclusive
of any rights or remedies which any party may otherwise have at law or in equity.

 

(e)
Headings. The headings in this Agreement are for reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement.

 

(f)
Counterparts. This Agreement may be executed in one or more original or facsimile counterparts, and by the different Parties
hereto in separate counterparts, by facsimile, portable document format (“pdf”),
or other form of electronic signature, each of which when executed shall be deemed to be an original but all of which taken together
shall constitute one and the same agreement.

 

    	- 3 -

    	 

    

  

(g)
Captions. The headings, titles or captions of the Sections and Sections of this Agreement are inserted only to facilitate
reference, and they are not intended to define, limit, extend or describe the scope or intent of this Agreement or any provision
hereof, and they do not constitute a part hereof or affect the meaning or interpretation of this Agreement or any part hereof.

 

(h)
Assignment. No Party may assign or delegate all or any portion of its rights, obligations or liabilities under this Agreement
without the prior written consent of the other Parties to this Agreement; provided,
however, that the Company may assign any or all of its rights, together with its obligations
hereunder, to any of its Affiliates or to any successor to all or a portion of the assets of the Company, provided
further, however, that if such Affiliate(s) fails to fully and timely perform any of such
obligations, the Company shall fully and promptly perform such obligations as if it were a party thereto.

 

(i)
Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of each Party hereto and the
LCT Minority Stockholders, and, except as otherwise expressly provided herein, nothing contained in this Agreement, express or
implied, is intended to or shall confer upon any other Person any right, benefit, or remedy of any nature whatsoever under or
by reason of this Agreement.

 

(j)
Severability. If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any
rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and
effect. Upon determination that any term or other provision is invalid, illegal, or incapable of being enforced, the Parties hereto
shall negotiate in good faith to, or the court making such a determination shall, modify this Agreement so as to effect the original
intent of the Parties as closely as possible in an acceptable manner to the effect that the transactions contemplated hereby are
fulfilled to the extent possible.

 

(k)
Governing Law; Forum. This Agreement and shall be governed by the laws of the State of New York. The Parties hereto do
hereby consent and submit to the venue and jurisdiction of the State or Federal Courts residing in New York, New York as the sole
and exclusive forum for such matters of disputes, and further agree that, in the event of any action or suit as to any matters
of dispute among the Parties, service of process may be made upon the other party by mailing a copy of the summons and/or complaint
to the other party at the address set forth herein. Notwithstanding anything to the contrary contained herein, the Parties may
seek equitable relief, or enforce any final judgment of any such federal or state court residing in New York, New York, in any
other jurisdiction in any manner provided by applicable law.

 

[Balance
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    	- 4 -

    	 

    

  

IN
WITNESS WHEREOF, the Parties have caused their duly authorized representatives to execute this Agreement on the date first above
written.

 

	VERT
    CAPITAL CORP	 	BOXLIGHT
    CORPORATION
	 	 	 	 	 
	By: 	/s/
    Michael Pope	 	By: 	/s/
    Mark Elliott
	Name:	Michael Pope	 	Name: 	Mark Elliott
	Title:	Managing Director	 	Title:	CEO
	 	 	 	 	 
	LOGICAL
    CHOICE CORPORATION	 	 	 
	 	 	 	 	 
	By:	/s/
    Michael Pope	 	 	 
	Name: 	Michael Pope	 	 	 
	Title:	President	 	 	 

 

    	- 5 -

    	 

    

  

Exhibit
A

 

	Name
	 	Series
    A Preferred Stock	 	Conversion
                                         Shares

	 	 	 	 	 
	Logical
                                         Choice Corporation-Delaware

        
	 	              1,588,464	 	 126,672 
	Kevin
                                         Shupenia

        
	 	                  120,479	 	 9,608 
	Equity
                                         Partners
	 	                     96,010	 	 7,656 
	Ronald
                                         Kaye, Jr.

        
	 	                     61,840	 	 4,931 
	Mark
                                         Blood

        
	 	                     56,799	 	 4,529 
	Alpine
                                         Consultants, Inc.

        
	 	                     56,167	 	 4,479 
	Coggin
                                         Family Intervivos Tr., II

        
	 	                     56,167	 	 4,479 
	Ronald
                                         Bertucci

        
	 	                     51,730	 	 4,125 
	Crusader
                                         Printing, LLC

        
	 	                     46,507	 	 3,709 
	Ralph
                                         Capasso

        
	 	                     36,214	 	 2,888 
	Shelly
                                         R. DeJesus

        
	 	                     34,543	 	 2,755 
	Paul
                                         Anthes

        
	 	                     33,701	 	 2,687 
	Louise
                                         Bertucci

        
	 	                     22,467	 	 1,792 
	Jay
                                         Forman

        
	 	                     21,793	 	 1,738 
	Ronald
                                         Stewart

        
	 	                     17,974	 	 1,433 
	Barbara
                                         Bisel

        
	 	                     14,042	 	 1,120 
	Victor
                                         Bertucci

        
	 	                     13,115	 	 1,046 
	Donald
                                         Bertucci

        
	 	                     13,115	 	 1.046 
	Becky
                                         Milford

        
	 	                     11,290	 	 900 
	Barbara
                                         Smith

        
	 	                     11,290	 	 900 
	Jennifer
                                         Delling

        
	 	                     11,290	 	 900 
	Louis
                                         Gelsomino

        
	 	                     10,307	 	 822 
	James
                                         Anderson

        
	 	                     10,054	 	 802 
	Dolores
                                         A. Miller

        
	 	                       8,425	 	 672 
	Arthur
                                         E. Menna

        
	 	                       8,425	 	 672 
	Dorothy
                                         A. Brayley

        
	 	                       8,425	 	 672 
	Robert
                                         R. Menna

        
	 	                       8,425	 	 672 
	William
                                         J. Menna

        
	 	                       8,425	 	 672 
	Berton
                                         Revocable Living Trust

        
	 	                       7,499	 	 598 
	Mario
                                         Bertucci

        
	 	                       7,499	 	 598 
	Charlie
                                         Bertucci

        
	 	                       7,499	 	 598 
	Bernie
                                         Colter

        
	 	                       7,049	 	 562 
	Natalie
                                         and Kou Su JT TEN

        
	 	                       6,740	 	                            538 
	Jeff
                                         Delling

        
	 	                       4,549	 	                            363 
	Don
                                         Rosado

        
	 	                       2,555	 	 204 
	Robert
                                         Meeks

        
	 	                       2,555	 	 204 
	Patrick
                                         Ireland

        
	 	                       2,555	 	 204 
	Charles
                                         Kaye

        
	 	                       2,303	 	 184 
	Phillip
                                         Snelling

        
	 	                       2,303	 	 184 
	Donna
                                         Ingram

        
	 	                       2,303	 	 184 
	Ronald
                                         Jordan

        
	 	                       2,247	 	 179 
	Pam
                                         Estabrooke

        
	 	                       1,432	 	 114 
	Faith
                                         Deward

        
	 	                           702	 	 56 
	Douglas
                                         Druschel

        
	 	                           702	 	 56 
	Elizabeth
    Kaye	 	618	 	 49 
	Cary Thornton	 	337	 	 27 
	James Lambert	 	116	 	 9 
	Elizabeth
    Atkins	 	56	 	 4 
	Jeff Boyden	 	56	 	 4 
	Kevin Brock	 	56	 	 4 
	Tina L.
    Combs	 	56	 	 4 
	Kellyann
    Davis-Hutchens	 	56	 	 4 
	Danny Durham	 	56	 	 4 
	Wei Fang 	 	56	 	 4 
	Doug Hutcheson	 	56	 	 4 
	Alan W.
    Johnson	 	56	 	 4 
	Anjana
    Vijay Patel	 	56	 	 4 
	James P.
    Schrader	 	56	 	 4 
	Randall
    Spear	 	56	 	 4 
	Jody A.
    Tate	 	56	 	 4 
	Averi M.
    Washington	 	56	 	 4 
	Charles
    Elliott	 	56	 	 4 
	 Don Lowery	 	56	 	 4 
	Steve
    Hatala	 	56	 	 4 
	Total	 	2,500,000	 	 199,362 

 

    	- 6 -

    	 

    

 

Exhibit
B

 

Series
A Preferred Stock Certificate of Designations

 

See Exhibit
4.1 to this registration statement on Form S-1 and related prospectus.

 

    	- 7 -

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