Document:

Exhibit 4.5

 

ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT

 

THIS
ASSIGNMENT, ASSUMPTION AND AMENDMENT AGREEMENT (this “Agreement”), dated as of [•], 2022, is entered into
by and among Perfect Corp., a Cayman Islands exempted company (“Perfect”), Provident Acquisition Corp., a Cayman Islands
exempted company (“PAQC”), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant
agent (the “Warrant Agent”) and amends the Warrant Agreement (the “Existing Warrant Agreement”),
dated as of January 7, 2021, by and between PAQC and the Warrant Agent, a copy of which is attached hereto as Annex A. Capitalized
terms used but not defined herein shall have the meaning ascribed to such terms in the Existing Warrant Agreement.

 

WHEREAS,
as of the date hereof and pursuant to the Existing Warrant Agreement, PAQC issued (a) 11,500,000 Public Warrants, (b) 6,600,000
Private Placement Warrants to Sponsor and (c) 2,750,000 Forward Purchase Warrants pursuant to Forward Purchase Agreements;

 

WHEREAS, all of the Warrants are governed by the
Existing Warrant Agreements;

 

WHEREAS, on March 3, 2022, Perfect, Beauty
Corp., a Cayman Islands exempted company with limited liability and a wholly-owned direct subsidiary of Perfect (“Merger Sub
1”), Fashion Corp., a Cayman Islands exempted company with limited liability and a wholly-owned direct subsidiary of Perfect
(“Merger Sub 2”) and PAQC entered into the Agreement and Plan of Merger (the “Business Combination Agreement”),
pursuant to which, among other things, (a) Merger Sub 1 will merge with and into PAQC (the “First Merger”), with
PAQC surviving the First Merger as a wholly-owned subsidiary of Perfect, and (b) immediately after the consummation of the First
Merger, PAQC (as the surviving company of the First Merger) will merge with and into Merger Sub 2 (the “Second Merger”
and together with the First Merger, the “Mergers”), with Merger Sub 2 surviving the Second Merger as a wholly-owned
subsidiary of Perfect;

 

WHEREAS, the consummation
of the transactions contemplated by the Business Combination Agreement, including the Mergers, will constitute a Business Combination
as defined in the Existing Warrant Agreement;

 

WHEREAS, upon consummation of the First Merger,
as provided in Section 4.4 of the Existing Warrant Agreement and Section 3.06(a) of the Business Combination Agreement,
the Warrants will no longer be exercisable for Class A ordinary shares of PAQC, par value $0.0001 per share, but instead will be
exercisable (subject to the terms and conditions of the Existing Warrant Agreement, as amended hereby) for Class A ordinary shares
of Perfect, par value $0.10 per share (the “Perfect Class A ordinary shares”);

 

WHEREAS, in connection with the transactions contemplated
by the Business Combination Agreement, PAQC desires to assign to Perfect, and Perfect desires to assume, all of PAQC’s rights, interests
and obligations under the Existing Warrant Agreement; and

 

WHEREAS, Section 9.8 of the Existing Warrant
Agreement provides that all parties to the Existing Warrant Agreement may amend the Existing Warrant Agreement without the consent of
any Registered Holder for the purpose of adding or changing any provisions with respect to matters or questions arising under the Existing
Warrant Agreement as parties thereof may deem necessary or desirable and that the parties thereof deem shall not adversely affect the
interest of the Registered Holders.

 

    1

    

    

 

NOW, THEREFORE, in consideration of the mutual
agreements herein contained, the receipt and sufficiency of which is hereby acknowledged and intending to be legally bound, the parties
hereto agree as follows:

 

1.             Assignment
and Assumption; Consent.

 

1.1.          Assignment
and Assumption. As of and with effect on and from the effective time of the First Merger (the “First Merger Effective Time”),
PAQC hereby assigns to Perfect all of PAQC’s right, title and interest in and to the Existing Warrant Agreement; and Perfect hereby
assumes, and agrees to pay, perform, satisfy and discharge in full, as the same become due, all of PAQC’s liabilities and obligations
under the Existing Warrant Agreement arising on, from and after the First Merger Effective Time.

 

1.2.          Consent.
The Warrant Agent hereby consents to (a) the assignment of the Existing Warrant Agreement by PAQC to Perfect and the assumption of
the Existing Warrant Agreement by Perfect from PAQC, in each case pursuant to Section ‎1.1, and (b) the continuation
of the Existing Warrant Agreement (as amended by this Agreement), in full force and effect from and after the First Merger Effective Time.

 

2.             Amendment
of Existing Warrant Agreement. Effective as of the First Merger Effective Time, Perfect and the Warrant Agent hereby amend the Existing
Warrant Agreement as provided in this Section ‎2, and acknowledge and agree that the amendments to the Existing
Warrant Agreement set forth in this Section ‎2 (a) are necessary and desirable and do not adversely affect
the rights of the Registered Holders under the Existing Warrant Agreement and (b) are to provide for the Alternative Issuance pursuant
to Section 4.4 of the Existing Warrant Agreement (in connection with the First Merger and the other transactions contemplated by
the Business Combination Agreement).

 

2.1.          References
Change.

 

2.1.1.            “Agreement”
or “Warrant Agreement”. Each reference to “this Agreement,” “Warrant Agreement,” “hereof,”
 “herein,” “hereunder,” “hereby” and each other similar reference contained in the Existing Warrant
Agreement (including all exhibits thereto) shall, from and after the effectiveness of this Agreement, refer to the Existing Warrant Agreement
as amended by this Agreement. Notwithstanding the foregoing, references to the date of the Existing Warrant Agreement and references in
the Existing Warrant Agreement to “the date hereof,” “the date of this Agreement” and other similar references
shall in all instances continue to refer to January 7, 2021.

 

2.1.2.            “Business
Combination”. All references to “Business Combination” in the Existing Warrant Agreement (including all exhibits
thereto) shall be references to the transactions contemplated by the Business Combination Agreement, and references to “the completion
of the Business Combination” and all variations thereof in the Existing Warrant Agreement (including all exhibits thereto) shall
be references to the Closing (as defined in the Business Combination Agreement).

 

2.1.3.            “Class A
ordinary shares”. References to “Class A ordinary shares” in the Existing Warrant Agreement (including
all exhibits thereto) shall be references to (a) prior to the First Merger Effective Time, Class A ordinary shares of PAQC,
par value $0.0001 per share, and (b) from and after the First Merger Effective Time, Perfect Class A ordinary shares.

 

2.1.4.            “Company”.
References to the “Company” in the Existing Warrant Agreement (including all exhibits thereto) shall be references to (a) prior
to the First Merger Effective Time, PAQC, and (b) from and after the First Merger Effective Time, Perfect.

 

2.2.          Other
Amendments.

 

2.2.1.            SEC
Filings. The references to “annual report on Form 10-K” and “current report on Form 8-K” in subsection
3.3.5 of the Existing Warrant Agreement are hereby deleted and replaced with “annual report on Form 20-F” and “current
report on Form 6-K”, respectively. The reference to “quarterly report on Form 10-Q” in subsection 3.3.5 of
the Existing Warrant Agreement is hereby deleted. The reference to “Current Report on Form 8-K” in Section 4.4 of
the Existing Warrant Agreement is hereby deleted and replaced with “current report on Form 6-K”.

 

    2

    

    

 

2.2.2.            Correction
of Typographical Errors.

 

(a)            Section 6.1
of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Redemption
of Warrants When the Price per Class A Ordinary Share Equals or Exceeds $18.00. Subject to Section ‎6.5
hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable
and prior to their expiration, at the office of the Warrant Agent, upon notice to the Registered Holders of the Warrants, as described
in Section 6.3 below, at a Redemption Price (as defined below) of $0.01 per Warrant, provided that the Reference Value (as
defined below) has been at least $18.00 per share (subject to adjustment in compliance with Section ‎4
hereof) and provided that there is an effective registration statement covering the Class A ordinary shares issuable upon exercise
of the Warrants, and a current prospectus relating thereto, available throughout the 30-day Redemption Period (as defined in Section ‎6.2
below).”

 

(b)            Section 6.3
of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Date
Fixed for, and Notice of, Redemption. In the event that the Company elects to redeem all of the Warrants pursuant to Section ‎6.1
or Section 6.2, the Company shall fix a date for the redemption (the “Redemption Date”). Notice of redemption
shall be mailed by first class mail, postage prepaid, by the Company not less than thirty (30) days prior to the Redemption Date (the
 “30-day Redemption Period”) to the Registered Holders of the Public Warrants to be redeemed at their last addresses
as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed to have
been duly given whether or not the Registered Holder received such notice. As used in this Agreement, (a) “Redemption
Price” shall mean the price per Warrant at which any Warrants are redeemed pursuant to Sections 6.1 or 6.2 and
(b) “Reference Value” shall mean the last reported sales price of the Class A ordinary shares for
any twenty (20) trading days within the thirty (30) trading-day period ending on the third trading day prior to the date on which notice
of the redemption is given.”

 

2.2.3.            Company’s
Officers. The reference to “the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer,
Secretary or other principal officer of the Company” in subsection 2.3.1 of the Existing Warrant Agreement is hereby deleted and
replaced with “the Chairman of the Board or Chief Executive Officer”. The reference to “the Chief Executive Officer,
Chief Financial Officer, Chief Operating Officer, Secretary or Chairman of the Board of the Company” in subsection 8.4.1 of the
Existing Warrant Agreement is hereby deleted and replaced with “the Chairman of the Board or Chief Executive Officer”.

 

2.2.4.            Notices.
Section 9.2 of the Existing Warrant Agreement is hereby deleted and replaced with the following:

 

“Any notice, statement or demand authorized
by this Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently
given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days
after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent),
as follows:

 

Perfect Corp.

14F, No 98, Minchuan Road

Shindian District, New Taipei City 231, Taiwan

Attention: Alice Chang

Email: Alice@PerfectCorp.com

 

    3

    

    

 

With a copy to:

 

Sullivan & Cromwell (Hong Kong) LLP

20th Floor, Alexandra House

18 Chater Road, Central, Hong Kong

Attention: Ching-Yang Lin

Email: linc@sullcrom.com

 

Any notice, statement or demand authorized by this Agreement to be
given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered
if by hand or overnight delivery or if sent by certified mail or private courier service within five (5) days after deposit of such
notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attention: Compliance Department”

 

2.2.5.            Exhibit B.
Exhibit B (Form of Warrant Certificate) annexed to the Existing Warrant Agreement is hereby deleted and replaced with Exhibit A
annexed to this Agreement.

 

3.       
      Miscellaneous Provisions.

 

3.1.          Effectiveness
of the Agreement. Each of the parties hereto acknowledges and agrees that the effectiveness of this Agreement shall be expressly subject
to the occurrence of the First Merger and the immediate subsequent occurrence of the Closing (as defined in the Business Combination Agreement)
and shall automatically be terminated and shall be null and void if the Business Combination Agreement shall be terminated for any reason.

 

3.2.          Successors.
All the covenants and provisions of this Agreement by or for the benefit of Perfect, PAQC or the Warrant Agent shall bind and inure to
the benefit of their respective successors and assigns.

 

3.3.          Applicable
Law. The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the
laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. Perfect hereby agrees that any action, proceeding or claim against it arising out of or relating in any
way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the
Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Perfect hereby waives
any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.

 

3.4.          Appointment
of Agent for Service of Process. Perfect will at all times have an authorized agent in the City of New York to receive on its behalf
service of any and all process, notices or other documents that may be served in any suit, action or proceeding arising out of or relating
to the Warrants, the Existing Warrant Agreement or this Agreement. Service of process upon such agent shall to the fullest extent permitted
by applicable law be deemed in every respect effective service of process upon Perfect, in any such suit, action or proceeding. Perfect
hereby appoints Cogency Global Inc. as its agent for such purpose, and covenants and agrees that all service of process in any suit, action
or proceeding may be made upon it at the office of such agent at 122 East 42nd Street, 18th Floor, New York, NY 10168. Notwithstanding
the foregoing, Perfect may, with prior written notice to the Warrant Agent, terminate the appointment of Cogency Global Inc. and appoint
another agent for the above purposes so that Perfect shall at all times have an agent for the above purposes in the City of New York.
Perfect hereby agrees to take any and all action as may be necessary to maintain the designation and appointment of such agent in full
force and effect until the sixth anniversary of the later of (a) the date on which the last outstanding Warrant is exercised and
(b) the last occurring Expiration Date.

 

    4

    

    

 

3.5.          Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument. Delivery of this Agreement by one party to the other may be made by facsimile, electronic mail (including
any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as
amended from time to time, or other applicable law) or other transmission method, and the parties hereto agree that any counterpart so
delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

3.6.          Effect
of Headings. The section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation
thereof.

 

3.7.          Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    5

    

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed as of the date first above written.

 

	 	PERFECT CORP.
	 	 
	 	By:	 
	 	 	Name:  Alice H. Chang 
	 	 	Title:    Chief Executive Officer

 

[Signature Page to Assignment,
Assumption and Amendment Agreement]

 

    

    

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed as of the date first above written.

 

	 	PROVIDENT ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:  Michael Aw 
	 	 	Title:    Chief Executive Officer

 

[Signature Page to Assignment,
Assumption and Amendment Agreement]

 

    

    

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed as of the date first above written.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent
	 	 
	 	By:	 
	 	 	Name:  Steven Vacante
	 	 	Title:    Vice President

 

[Signature Page to Assignment,
Assumption and Amendment Agreement]

 

    

    

    

 

EXHIBIT A

 

[Form of Warrant Certificate]

 

[FACE]

 

Number

 

WARRANTS

THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

PERFECT CORP.

Incorporated Under the Laws of the Cayman Islands

 

CUSIP G7006A117

 

Warrant Certificate

 

This
Warrant Certificate certifies that ,                         or registered assigns, is the registered holder of warrant(s) evidenced
hereby (the “Warrants” and each, a “Warrant”) to purchase Class A ordinary shares,
$0.10 par value (“Perfect Class A ordinary shares”), of Perfect Corp., a Cayman Islands exempted company
with limited liability (the “Company”). Each Warrant entitles the holder, upon exercise during the period set
forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and non-assessable Perfect Class A
ordinary shares as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the
Warrant Agreement, payable in lawful money (or through “cashless exercise” as provided for in the Warrant Agreement)
of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of
the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this
Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Each whole Warrant is initially exercisable for one fully paid and
non-assessable Perfect Class A ordinary share. No fractional shares will be issued upon exercise of any Warrant. If, upon the exercise
of Warrants, a holder would be entitled to receive a fractional interest in a Perfect Class A ordinary share, the Company will, upon
exercise, round down to the nearest whole number the number of Perfect Class A ordinary shares to be issued to the Warrant holder.
The number of Perfect Class A ordinary shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence
of certain events as set forth in the Warrant Agreement.

 

The initial Exercise Price per one Perfect Class A ordinary share
for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events as set
forth in the Warrant Agreement.

 

Subject to the conditions set forth in the Warrant Agreement, the Warrants
may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall
become void.

 

Reference is hereby made to the further provisions of this Warrant
Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set
forth at this place.

 

This Warrant Certificate shall not be valid unless countersigned by
the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate shall be governed by and construed in accordance
with the internal laws of the State of New York.

 

    

    

    

 

	 	PERFECT CORP.
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title:	 

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS WARRANT AGENT
	 	 
	 	By:	 
	 	 	Name:	               
	 	 	Title:	 

 

[Signature
Page to Assignment, Assumption and Amendment Agreement]

 

    

    

    

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced by this Warrant Certificate are part of a duly
authorized issue of Warrants entitling the holder on exercise to receive Perfect Class A ordinary shares and are issued or to be
issued pursuant to the warrant agreement by and between Provident Acquisition Corp. (“PAQC”) and the Warrant Agent (as defined
below), dated January 7, 2021, as amended by the Assignment, Assumption and Amendment Agreement, dated as of [●], 2022 (the
 “Warrant Agreement”), duly executed by and among the Company, PAQC and Continental Stock Transfer &
Trust Company, a New York corporation, as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby
incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation
of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders”
or “holder” meaning the Registered Holders or Registered Holder, respectively) of the Warrants. A copy of the
Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate
but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised at any time during the Exercise Period set
forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant
Certificate, with the form of election to purchase set forth hereon properly completed and executed, together with payment of the Exercise
Price as specified in the Warrant Agreement (or through “cashless exercise” as provided for in the Warrant Agreement)
at the principal corporate trust office of the Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number
of Warrants exercised shall be less than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or
his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised.

 

Notwithstanding anything else in this Warrant Certificate or the Warrant
Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration statement covering the issuance of the Perfect
Class A ordinary shares to be issued upon exercise is effective under the Securities Act and (ii) a prospectus thereunder relating
to the Perfect Class A ordinary shares is current, except through “cashless exercise” as provided for in
the Warrant Agreement.

 

The Warrant Agreement provides that upon the occurrence of certain
events the number of Perfect Class A ordinary shares issuable upon exercise of the Warrants set forth on the face hereof may, subject
to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest
in a Perfect Class A ordinary share, the Company shall, upon exercise, round down to the nearest whole number of Perfect Class A
ordinary shares to be issued to the holder of the Warrant.

 

Warrant Certificates, when surrendered at the principal corporate trust
office of the Warrant Agent by the Registered Holder thereof in person or by legal representative or attorney duly authorized in writing,
may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge,
for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants.

 

    

    

    

 

Upon due presentation for registration of transfer of this Warrant
Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate
a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith.

 

The Company and the Warrant Agent may deem and treat the Registered
Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes,
and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate
entitles any holder hereof to any rights of a shareholder of the Company.

 

Election to Purchase

 

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby irrevocably elects to exercise the right, represented
by this Warrant Certificate, to receive Class A ordinary shares and herewith tenders payment for such Perfect Class A ordinary
shares to the order of Perfect Corp. (the “Company”) in the amount of $[•] in accordance with the terms
hereof. The undersigned requests that a certificate for such Perfect Class A ordinary shares be registered in the name of [•],
whose address is [•] and that such Perfect Class A ordinary shares be delivered to [•] whose address is [•]. If said
number of Perfect Class A ordinary shares is less than all of the Perfect Class A ordinary shares purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining balance of such Perfect Class A ordinary shares be
registered in the name of [•], whose address is [•] and that such Warrant Certificate be delivered to [•], whose address
is [•].

 

In the event that the Warrant is a Private Placement Warrant that is
to be exercised on a “cashless” basis pursuant to the Warrant Agreement, the number of Perfect Class A ordinary shares
that this Warrant is exercisable for shall be determined in accordance with the Warrant Agreement.

 

In the event that the Warrant may be exercised, to the extent allowed
by the Warrant Agreement, through cashless exercise (i) the number of Perfect Class A ordinary shares that this Warrant is exercisable
for would be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the
holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant
Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Perfect Class A ordinary shares. If said
number of shares is less than all of the Perfect Class A ordinary shares purchasable hereunder (after giving effect to the cashless
exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Perfect Class A ordinary
shares be registered in the name of [•], whose address is [•] and that such Warrant Certificate be delivered to [•], whose
address is [•].

 

[Signature Page Follows]

 

    

    

    

 

Date:          , 20

 

	 	 
	 	 
	 	(Signature)
	 	 
	 	 
	 	 
	 	 
	 	(Address)
	 	 
	 	 
	 	(Tax Identification Number)

 

	 	 
	Signature Guaranteed:	 
	 	 
	 	 

 

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM,
PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

    

    

    

 

ANNEX A

 

EXISTING WARRANT AGREEMENTExhibit 4.1

DESCRIPTION OF THE COMPANY’S SECURITIES REGISTERED PURSUANT TO 

SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

The following is a brief description of the common stock, $0.01 par value per share (the “Common Stock”), of Ethan Allen Interiors Inc. (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

General

 

The total number of shares of capital stock which the Company shall have authority to issue is 151,055,000 shares, consisting of 150,000,000 shares of Common Stock, par value $0.01 per share (the “Common Stock”), and 1,055,000 shares of Preferred Stock, par value $0.01 per share (the “Preferred Stock”).

 

The following descriptions of our Common Stock and Preferred Stock and of certain provisions of Delaware law do not purport to be complete and are subject to and qualified in their entirety by reference to our (i) amended and restated certificate of incorporation and (ii) our amended and restated by-laws.

 

The Company’s Common Stock is traded on the New York Stock Exchange (the “NYSE”) under ticker symbol “ETD”. On August 4, 2021, the Company announced that it was changing its ticker symbol from “ETH” to “ETD”, using the “D” for Design, which is reflective of the Company’s focus on interior design and the personal services of its design professionals throughout its global retail network of over 300 design centers. The ticker symbol change became effective on August 16, 2021.

 

The transfer agent for the Common Stock is Computershare.

 

Preferred Stock

 

The Board of Directors is expressly authorized to provide for the issuance of all or any shares of the Preferred Stock in one or more classes or series, and to fix for each such class or series such voting powers, full or limited, or no voting powers, and such distinctive designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board of Directors providing for the issuance of such class or series and as may be permitted by the General Corporation Law of the State of Delaware, including, without limitation, the authority to provide that any such class or series may be (i) subject to redemption at such time or times and at such price or prices and upon such terms and conditions; (ii) entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such conditions, and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes or any other series; (iii) entitled to such rights upon the dissolution of, or upon any distribution of the assets of, the Company; or (iv) convertible into, or exchangeable for, shares of any other class or classes of stock, or of any other series of the same or any other class or classes of stock, or debt or obligations, of the Company at such price or prices or at such rates of exchange and with such adjustments and upon such terms and conditions; all as may be stated in such resolution or resolutions.

 

Common Stock

 

Dividends. Subject to the preferences and other rights of any class or series of Preferred Stock then outstanding, the Board of Directors of the Company may cause dividends to be paid to the holders of shares of Common Stock out of funds legally available for the payment of dividends by declaring an amount per share as a dividend. When and as dividends are declared, whether payable in cash, in property or in shares of stock of the Company, the holders of Common Stock shall be entitled to share equally, share for share, in such dividends.

 

Liquidation Rights. Subject to the preferences and other rights of any class or series of Preferred Stock then outstanding, in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company, the holders of Common Stock shall be entitled, to share, ratably according to the number of shares of Common Stock held by them, in all remaining assets of the Company available for distribution to its shareholders, subject to any rights of the holders of Preferred Stock that the Company may issue in the future.

 

Voting Rights. Except as otherwise provided in the amended and restated certificate of incorporation (including, without limitation, any amendments to, restatements of or designations regarding any series or class of Preferred Stock) or by applicable law, only the holders of Common Stock shall be entitled to vote on each matter on which the shareholders of the Company shall be entitled to vote, and each holder of Common Stock shall be entitled to one vote for each share of Common Stock held by him.

 

 

 

 

ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES

 

Conversion and Preemptive Rights. Holders of shares of our Common Stock have no conversion, preemptive or similar rights.

 

Other Provisions 

 

Other provisions in our amended and restated certificate of incorporation and by-laws, incorporated herein by reference, may have the effect of delaying, deferring or preventing a change of control of the Company or may operate only with respect to extraordinary corporate transactions involving the Company.

 

Restated Article and Amended and Restated Bylaw Provisions

 

Our amended and restated certificate of incorporation and by-laws include a number of provisions that may have the effect of encouraging persons considering unsolicited tender offers or other unilateral takeover proposals to negotiate with our Board of Directors rather than pursue non-negotiated takeover attempts. These provisions include an advance notice requirement for director nominations and actions to be taken at annual meetings of shareholders, the requirements for shareholders to call a special meeting of the shareholders, the availability of authorized but unissued blank check preferred stock and no shareholder action by written consent.

 

Advance Notice Requirement

 

Our amended and restated certificate of incorporation and by-laws set forth advance notice procedures with regard to shareholder nomination of persons for election to the Board of Directors or other business to be considered at meetings of shareholders. These procedures provide that notice of such shareholder proposals must be timely given in writing to the Secretary of the Company prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be delivered to the Secretary at the principal executive offices of the Company not less than 90 days nor more than 120 days prior to the meeting. The advance notice requirement does not give the Board of Directors any power to approve or disapprove shareholder director nominations or proposals but may have the effect of precluding the consideration of certain business at a meeting if the proper notice procedures are not followed.

 

Special Meetings of Shareholders

 

Special meetings of shareholders shall be called by the Secretary of the Company upon written request signed by shareholders holding at least 20% of the shares of stock generally entitled to vote, or by a majority of the Board of Directors, the President, the Chairman or otherwise in accordance with the Certificate of Incorporation. Notwithstanding the foregoing, whenever holders of one or more classes or series of Preferred Stock shall have the right, voting separately as a class or series, to elect directors, such holders may call, pursuant to the terms of the resolution or resolutions adopted by the Board of Directors in connection with issuing such Preferred Stock pursuant to the Certificate of Incorporation, special meetings of holders of such Preferred Stock.

 

Authorized Blank Check Preferred

 

The Board of Directors is expressly authorized to provide for the issuance of all or any shares of the Preferred Stock in one or more classes or series, and to fix for each such class or series such voting powers, full or limited, or no voting powers, and such distinctive designations, preferences and relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board of Directors providing for the issuance of such class or series and as may be permitted by Delaware Law, including, without limitation, the authority to provide that any such class or series may be (i) subject to redemption at such time or times and at such price or prices and upon such terms and conditions; (ii) entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such conditions, and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes or any other series; (iii) entitled to such rights upon the dissolution of, or upon any distribution of the assets of, the Company; or (iv) convertible into, or exchangeable for, shares of any other class or classes of stock, or of any other series of the same or any other class or classes of stock, or debt or obligations, of the Company at such price or prices or at such rates of exchange and with such adjustments and upon such terms and conditions; all as may be stated in such resolution or resolutions.

 

No Shareholder Action by Written Consent

 

Any action required or permitted to be taken at any annual or special meeting of shareholders may be taken only upon the vote of shareholders at an annual or special meeting duly noticed and called in accordance with the Delaware Law, as amended from time to time, and may not be taken by written consent of shareholders without a meeting, except with regard to election, removal and filling of vacancies of directors by holders of Preferred Stock, voting separately, as and if so provided by the terms of the resolution or resolutions adopted by the Board of Directors.

 

 

 

 

ETHAN ALLEN INTERIORS INC. AND SUBSIDIARIES

 

Delaware Takeover Statute

 

The Company is subject to the General Corporation Law of the State of Delaware (the “DGCL”), including Section 203. In general, Section 203 restricts the ability of a public Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder. An “interested stockholder” includes any person or entity who in the last three years obtained 15% or more of any class or series of stock entitled to vote generally in the election of directors. Generally, a “business combination” includes a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. However, the restriction does not apply if:

 

	 	
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			the Board of Directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, with approval taking place prior to such business combination or transaction;

			

 

	 	
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			upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the Company’s voting stock outstanding at the time the transaction commenced, excluding certain shares; or

			

 

	 	
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			the business combination is approved by the Board of Directors and by the affirmative vote of holders of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder, with approval taking place concurrently with or after the business combination.

			

 

Under certain circumstances, this provision may make it more difficult for a person who would be an “interested stockholder” to effect various business combinations with the Company for a three-year period. This provision may encourage companies interested in acquiring the Company to negotiate in advance with the Board of Directors, because the stockholder approval requirement would be avoided if the Board of Directors were to approve either the business combination or the transaction that results in the stockholder becoming an interested stockholder. These provisions also may have the effect of preventing changes in the Board of Directors and may make it more difficult to accomplish transactions that shareholders may otherwise deem to be in their best interest.

 

Limitations on Director Liability 

 

The certificate of incorporation provides that no director shall be personally liable to the Company or the shareholders for monetary damages for any breach of fiduciary duty by such director as a director, notwithstanding any other provision of law to the contrary.

 

Indemnification of Directors and Officers

 

The certificate of incorporation and by-laws provide that the Company shall indemnify its directors and officers, whether former or present, and provide for the advancement to them of expenses in connection with actual or threatened proceedings and claims arising out of their status as such to the fullest extent permitted by the DGCL. These provisions may be held not to be enforceable for violations of the federal securities laws of the United States.

 

Transfer Agent and Registrar

 

The transfer agent for the common stock is Computershare.

 

This written statement is being furnished to the Securities and Exchange Commission as an exhibit to the Annual Report. A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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