Document:

Certificate of Designation for Preferred Stock

 Exhibit 4.9 
 EXHIBIT A 
 CERTIFICATE OF DESIGNATION 
 SERIES A CONVERTIBLE PREFERRED STOCK 
 ($.001 Par Value) 
 of 
 DICKIE WALKER MARINE, INC. 
 Pursuant to Section 151 of the General Corporation Law 
  

 Dickie Walker Marine, Inc., a corporation organized and existing under the law of the State of Delaware
(the “Corporation”), in accordance with the provisions of Section 151 of the General Corporation Law, DOES HEREBY CERTIFY as follows: 
 That
pursuant to the authority conferred upon the Board of Directors by the Articles of Incorporation of the Corporation, as amended (“Articles of Incorporation”), the Board of Directors of the Corporation by resolution adopted by written
consent in lieu of meeting dated February 28, 2006, adopted the following resolution creating a series of 500,000 shares of Preferred Stock, $.001 par value per share, designated as Series A Convertible Preferred Stock: 
 Section 1. Designation and Amount. The shares of such series shall be designated as “Series A Convertible Preferred Stock” and the number of shares
constituting such series shall be 500,000. Such number of shares may be increased or decreased by resolution of the Board of Directors; provided, however, that no decrease shall reduce the number of shares of Series A Convertible Preferred Stock to
a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Corporation
convertible into Series A Convertible Preferred Stock. 
 Section 2. Dividends and Distributions. 
 (A) Ordinary Dividends. In the event the Corporation declares a dividend payable to holders of any class of stock, the holder of each share of Series A
Convertible Preferred Stock shall be entitled to receive a dividend equal in amount and kind to that payable to the holder of the number of shares of the Corporation’s Common Stock into which that holder’s Series A Convertible Preferred
Stock could be converted on the record date for the dividend. 
 (B) Liquidation. Upon the liquidation, dissolution and winding up of the
Corporation, the holders of the Series A Convertible Preferred Stock shall be entitled to receive in cash out of the assets of the Corporation, whether from capital or from earnings available for distribution to its stockholders, before any amount
shall be paid to the holders of common stock, the sum of One Cent ($0.01) per share, after which the holders of Series A Convertible Preferred Stock shall share in the distribution with the holders of the Common Stock on a pari passu basis, except
that in determining the appropriate distribution of available cash among the shareholders, each share of Series A Convertible Preferred Stock shall be deemed to have been converted into the number of shares of the Corporation’s Common Stock
into which that holder’s Series A Convertible Preferred Stock could be converted on the record date for the distribution. 
  

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 Section 3. Voting Rights. The holders of shares of Series A Convertible Preferred Stock shall have the following
voting rights: Each share of Series A Convertible Preferred Stock shall entitle the holder thereof to cast on all matters submitted to a vote of the stockholders of the Corporation that number of votes which equals the number of shares of Common
Stock into which such holder’s shares of Series A Convertible Preferred Stock are convertible on the record date for the stockholder action, as determined under Section 8 hereof. 
 Section 4. Reacquired Shares. Any shares of Series A Convertible Preferred Stock purchased or otherwise acquired by the Corporation in any manner whatsoever shall
be retired and cancelled promptly after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock to be created by
resolution or resolutions of the Board of Directors, subject to the conditions and restrictions on issuance set forth herein. 
 Section 5. Redemption.
At any time after October 1, 2006, the Corporation shall be entitled to redeem the shares of Series A Convertible Preferred Stock by giving written notice to the registered holders thereof not less than 15 nor more than 60 days prior to the
redemption date. Each such notice shall state (1) the redemption date, (2) the number of share to be redeemed from each holder, and (3) the place where certificates for the Series A Convertible Preferred Stock are to be surrendered.
Upon surrender in accordance with said notice of certificates for the shares to be redeemed, such shares shall be redeemed at a price of $.01 per share. Notice having been given, upon the redemption date (unless the Corporation shall default in
paying the redemption price), said shares shall no longer be deemed to be outstanding. 
 Section 6. Voting on Amendment. The Articles of Incorporation
of the Corporation shall not be further amended, nor shall any resolution of the directors be adopted that in any manner would materially alter or change the powers, preferences or special rights of the Series A Convertible Preferred Stock so as to
affect them adversely without the affirmative vote of the holders of at least seventy-five percent of the outstanding shares of Series A Convertible Preferred Stock, voting together as a single class. 
 Section 7. No Impairment. The Corporation will not, by amendment of its Articles of Incorporation or adoption of a directors’ resolution or by any other means
or through any reorganization, recapitalization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Corporation but will at all times in good faith assist in the carrying out of all the provisions of this Certificate of Designation and in the taking of all such action as may be necessary or appropriate in
order to protect the Conversion Rights of the holder of the Series A Convertible Preferred Stock against impairment. 
 Section 8. Conversion. The
holders of the Series A Convertible Preferred Stock shall have the following rights with respect to the conversion of the Series A Convertible Preferred Stock into shares of Common Stock (the “Conversion Rights”): 
 (A) Conversion. Subject to and in compliance with the provisions of this Section 8, any shares of Series A Convertible Preferred Stock may, at any
time, at the option of the holder, be converted into fully paid and nonassessable shares of Common Stock (a “Conversion”). The number of shares of Common Stock to which a holder of Series A Convertible Preferred Stock shall be entitled
upon a Conversion shall be the product obtained by multiplying the number of 

  

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shares of Series A Convertible Preferred Stock being converted by one hundred and twenty (120) (“Adjustment Number”). 
 (B) Dividend Payable in Shares of Stock. In the event the Corporation shall at any time declare or pay any dividend on Common Stock payable in shares of
Common Stock, then the Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after
such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. 
 (C)
Consolidation, Merger, etc. In case the Corporation shall enter into any consolidation, merger, reorganization, or other transaction in which the shares of Common Stock are exchanged for or changed into other stock or securities, cash and/or any
other property, then in any such case the Conversion Rights of Series A Convertible Preferred Stock shall at the same time be modified such that upon Conversion of a share of Series A Convertible Preferred Stock the holder shall receive the product
of the Adjustment Number times the aggregate amount of stock, securities, cash and/or any other property (payable in kind), as the case may be, into which or for which each share of Common Stock is changed or exchanged. 
 (D) Adjustment for Reclassification, Exchange and Substitution. At any time or times the Common Stock issuable upon the conversion of the Series A
Convertible Preferred Stock is changed into the same or a different number of shares of any class or classes of the Corporation’s stock, whether by recapitalization, combination, consolidation, reclassification or otherwise, in any such event
the Adjustment Number shall be changed proportionately to the change in the number of shares of Common Stock resulting from the recapitalization, reclassification or other change. 
 (E) Mechanics of the Conversion. Upon a Conversion, the holder of Series A Convertible Preferred Stock shall surrender the certificate or certificates
therefor, duly endorsed, at the office of the Corporation, together with a completed Notice of Conversion in the Form of Exhibit A. Thereupon, the Corporation shall promptly issue and deliver to such holder a certificate or certificates for the
number of shares of Common Stock to which such holder is entitled. The Conversion shall be deemed to have been made at the close of business on the date of such surrender of the certificates representing the shares of Series A Convertible Preferred
Stock to be converted. The person entitled to receive the shares of Common Stock issuable upon a Conversion shall be treated for all purposes as the record holder of such shares of Common Stock on such date. 
 (F) Reservation of Stock Issuable Upon Conversion. The Corporation shall at all times reserve and keep available out of its authorized but unissued
shares of Common Stock, solely for the purpose of effecting the conversion of the shares of the Series A Convertible Preferred Stock , such number of its shares of Common Stock as shall from time to time be sufficient to effect the conversion of all
outstanding shares of the Series A Convertible Preferred Stock . If at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then outstanding shares of the Series A Convertible
Preferred Stock, the Corporation shall, at the request of any holder of Series A Convertible Preferred Stock, take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common
Stock to such number of shares as shall be sufficient for such purpose. 
  

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 Section 9. Notices of Record Date. Upon (i) any taking by the Corporation of a record of the holders of any
class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, or (ii) any sale of the Corporation, capital reorganization of the Corporation, any reclassification or
recapitalization of the capital stock of the Corporation, or any voluntary or involuntary dissolution, liquidation or winding up of the Corporation, the Corporation shall mail to each holder of Series A Convertible Preferred Stock at least twenty
(20) days prior to the record date specified therein a notice specifying (A) the date on which any such record is to be taken for the purpose of such dividend or distribution and a description of such dividend or distribution, (B) the
date on which any such sale of the Corporation, reorganization, reclassification, recapitalization, dissolution, liquidation or winding up is expected to become effective, and (C) the date, if any, that is to be fixed as to when the holders of
record of Common Stock (or other securities) shall be entitled to exchange their shares of Common Stock (or other securities) for securities or other property deliverable upon such sale of the Corporation, reorganization, reclassification,
recapitalization, dissolution, liquidation or winding up. 
 Section 10. Notices. Any notice required by the provisions of this Certificate of
Designation shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient; if not, then on the
next business day, (iii) three (3) days after having been sent by regular mail, postage prepaid, or (iv) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written
verification of receipt. All notices shall be addressed to each holder of record at the address of such holder appearing on the books of the Corporation. 
 IN WITNESS WHEREOF, the Corporation has caused this Certificate of Designation to be signed by its duly authorized officer this 7th day of April, 2006. 
  

	
	DICKIE WALKER MARINE, INC.
	
	/s/ GERALD W. MONTIEL
	Gerald W. Montiel
	Chief Executive Officer and President

  

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 Exhibit A 
 NOTICE OF CONVERSION 
 Reference is made to the Certificate of Designation of SERIES A CONVERTIBLE PREFERRED STOCK dated
April 7 , 2006 (the “Certificate of Designation”), of DICKIE WALKER MARINE, INC., a Delaware corporation (the “Corporation”). In accordance with and pursuant to the Certificate of Designation, the undersigned hereby elects
to convert the number of shares of Series A Convertible Preferred Stock, par value $0.001 per share (the “Preferred Shares”) indicated below into shares of Common Stock, par value $0.001 per share (the “Common Stock”), of the
Company, by tendering the stock certificate(s) representing the Preferred Shares specified below as of the date specified below. 
 Date of Conversion:                     
 Number of Preferred Shares to be
converted:                     
 Please confirm the following information: 
 Number of shares of Common Stock to be
issued:                     
 Please issue the
Common Stock into which the Preferred Shares are being converted in the following name and to the following address: 
  

			
		
	Issue to:	 	  

			
		
	Address:	 	  
		
		 	  

			
		
	Facsimile Number:	 	  

			
		
	Authorization:	 	  

			
		
	By:	 	  

			
		
	Title:	 	  

  

 5Form of Employment Agreement with Gerald W. Montiel

 Exhibit 10.25 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT Agreement (this “Agreement”) is made and entered
into as of                     , 2006 (the “Effective Date”), by and between Dickie Walker Marine, Inc., a Delaware corporation
(“DWMA”), having an office at 100 Wall Street, 15th Floor,, New York, New York 10005 and Gerald W. Montiel, whose address is 6202 Avenida Cresta, La Jolla, CA 92037 (“Employee”). 
 WHEREAS, DWMA desires to engage Employee, and Employee agrees to be employed, to provide certain services to DWMA as described herein; 
 NOW, THEREFORE, in consideration of the promises and mutual agreements herein, Employee and DWMA agree to the following terms and conditions: 

 

	1.	Services. DWMA hereby employs Employee, and Employee agrees to be employed, on the terms and conditions set forth in this Agreement to perform services to DWMA.
The services to be performed will be calculated to assist DWMA in winding up the business previously conducted by DWMA, and will include collection of accounts receivable, obtaining refunds of prepaid deposits, handling accounts payable that
resulted from the prior business, coordinating communications with DWMA that pertain to the prior business or operations of DWMA, including forwarding mail and other communications to the appropriate personnel at DWMA (the “Services”).
Employee is solely responsible for determining the manner in which the Services are to be accomplished, provided that Employee shall undertake and accomplish the Services in accordance with standards acceptable to DWMA. In carrying out the Services,
Employee shall maintain liaison with such DWMA personnel as DWMA may designate (the “Liaison”). 

  

	2.	Compensation. In consideration of the Services to be provided by Employee, DWMA shall pay to Employee during each of the twelve months in the Term of this
Agreement the sum of Two Thousand, Eight Hundred and 00/100 Dollars ($2,800) per month. Payment shall be made on the first business day of each month in the term hereof. 

  

	3.	Benefits. DWMA will maintain the company’s existing health insurance policy provided by Blue Shield “Policy”) for a period of six months. DWMA will
provide coverage under the Policy for Employee and will pay premiums due under that Policy for Employee’s coverage up to $1,200 per month. 

  

	4.	Expense Reimbursement. DWMA shall reimburse Employee for all actual, authorized, out-of-pocket costs or expenses incurred by Employee in connection with
Employee’s Services within thirty (30) days of DWMA’s receipt of appropriate documentation. Any expenses must be pre-approved in writing by the DWMA Liaison. 

  

	5.	Employee’s Covenants. Employee covenants to DWMA as follows: 

  

	 	5.1.	Employee will comply at all times with all applicable laws and regulations of any jurisdiction in which Employee acts; 

	 	5.2.	Employee will comply with all applicable DWMA policies and standards and shall carry out the Services in a manner consistent with the ethical and professional standards of DWMA;

  

	 	5.3.	Employee will comply at all times with all security provisions in effect from time to time at DWMA’s premises, with respect to access to premises, and all materials belonging
to DWMA. Employee agrees that if Services are to be performed on the premises or facilities of DWMA, then Employee shall be allowed access only during the period established by the occupant of such premises or facilities as the normal work hours of
its employees at such premises or facilities. 

  

	6.	Confidential Information. 

  

	 	6.1.	During the course of carrying out the Services, Employee may have access to information that relates to DWMA’s past, present, or future research, development, or business
activities and any proprietary products, materials, services, or technical knowledge that is regarded and treated as confidential by DWMA (collectively, the “Confidential Information”). In connection therewith, the following subsections
shall apply: 

  

	 	6.1.1.	The Confidential Information may be used by Employee only to assist Employee’s performance of the Services; 

  

	 	6.1.2.	Employee will protect the confidentiality of the Confidential Information according to standards that are at least as high as those employed by DWMA. Access to the Confidential
Information shall be restricted to Employee, and Employee shall not disclose Confidential Information to any third party; 

  

	 	6.1.3.	The Confidential Information may not be copied or reproduced without DWMA’s prior written consent; 

  

	 	6.1.4.	Unless otherwise expressly authorized in writing by DWMA, all Confidential Information made available to Employee, including copies thereof, shall be returned to DWMA upon the first
to occur of (i) termination of this Agreement or (ii) request by DWMA; 

  

	 	6.1.5.	Nothing in this Agreement shall prohibit or limit Employee’s use of information (including, but not limited to, ideas, concepts, know-how, techniques, and methodology)
(i) previously known to him, (ii) independently developed by him, (iii) acquired by him from a third party which is not, to Employee’s knowledge, under an obligation to DWMA not to disclose such information, or (iv) which is
or becomes publicly available through no breach by Employee of this Agreement; 

  

	 	6.1.6.	Nothing in the Agreement shall be construed to grant to Employee any rights or licenses to use the Confidential Information; 

  

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	 	6.1.7.	The obligations in this Section 6 shall not restrict any disclosure pursuant to any applicable law or by order of any court or government agency; provided that
(i) Employee shall give prompt notice (and in any event prior to any disclosure) to DWMA of such order, (ii) Employee shall cooperate with DWMA at DWMA’s expense in resisting such disclosure or seeking suitable protections prior to
such disclosure and (iii) Employee shall disclose only such Confidential Information as Employee is compelled to disclose; and 

  

	 	6.1.8.	Notwithstanding anything to the contrary contained in this Agreement, the terms and conditions of this Section 6 shall survive for a period of four (4) years after the
termination or expiration of this Agreement or such longer period as necessary to maintain the trade secret status of any Confidential Information. 

  

	7.	Term. This Agreement shall commence on the Effective Date and shall continue in full force and effect for six months from of the Effective Date (“Termination
Date”) unless it is sooner terminated in accordance with the provisions of this Agreement. 

  

	8.	Termination. 

  

	 	8.1.	Either party may terminate this Agreement prior to the Termination Date for cause (“Cause”). Cause for termination exists if a party commits a material breach of this
Agreement which remains uncured after thirty (30) days’ written notice thereof. Termination shall be effective at close of business on the last date of the cure period. 

  

	 	8.2.	Employee may terminate this Agreement prior to the Termination Date so long as he enters into a consulting agreement with DWMA that expires no earlier twelve months from the
Effective Date of this Agreement. 

  

	9.	Entire Agreement. This Agreement sets forth the entire intent and understanding of the parties hereto on the subject matter hereof and supersedes any other agreements
or understandings. It may be amended only by a writing duly signed by both of the parties hereto. 

  

	10.	Notices. Any notice or other communication given pursuant to this Agreement shall be in writing and shall be effective either when delivered personally to the party
for whom intended, or five (5) days following deposit of the same into the United States mail (certified mail, return receipt requested, or first class postage prepaid), addressed to such party at the address set forth on the initial page of
this Agreement. Either party may designate a different address by notice to the other given in accordance with this provision. 

  

	11.	Nonassignability. This Agreement is not assignable by Employee without the prior written consent of DWMA. 

  

	12.	Governing Law. This Agreement will be deemed to have been executed and delivered in the State of California and it will be governed by and construed in accordance with
the laws of California without resort to its conflicts of law rules. 

  

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 Each intending to be bound to the other, DWMA and Employee have caused this Agreement to be executed. 
  

			
	 Agreed and accepted:

	
	 DICKIE WALKER MARINE, INC.

		
	 By
	 	  
	
	  
	 Printed Name

	
	  
	 Title

	
	  
	 Date of Signature

  

	
	 EMPLOYEE

	
	   
	 Gerald W. Montiel

	
	   
	 Date of Signature

  

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