Document:

ex-10.2

  FIRST AMENDMENT TO ACQUISITION AGREEMENT
 THIS FIRST AMENDMENT TO THE FEBRUARY 10, 2021 ACQUISITION AGREEMENT (“the Amendment”), dated as of the 11th day of February 2021 (the “Effective Date”), is made by and between BERGIO INTERNATIONAL, INC., a publicly traded Wyoming corporation (“BRGO”), APHRODITE’S MARKETING, INC., a corporation organized under the laws of Wyoming, which is a wholly-owned subsidiary of BRGO (the “Purchaser” or “Acquisition Sub”), and DIGITAL AGE BUSINESS, INC., a corporation organized under the laws of Florida (the “Seller”), and the Seller’s Shareholders (the “Selling Shareholders”).
 RECITALS:
 WHEREAS, the Parties executed the Acquisition Agreement on February 10, 2021(the “Acquisition Agreement”) and the Acquisition Agreement specified that the Series B Preferred Stock of BRGO would have 49 authorized shares, out of which the Selling Shareholders would be issued 30 shares of Series B Preferred Stock upon Closing, with the opportunity for the Selling Shareholders to earn up to an additional 19 shares of Series B Preferred Stock upon reaching certain gross revenue benchmarks; and
 WHEREAS, the Seller have today requested an Amendment increasing the authorized shares of Series B Preferred Stock to allow the allocation of such Series B Preferred Stock to the Selling Shareholders without the need for fractional shares; and
 WHEREAS, Parties have now agreed to the terms of this Amendment for the purpose of changing the Certificate of Designation for the Series B Preferred Stock to reflect a total of 4,900 authorized shares of Series B Preferred Stock, and for the purpose of reflecting a total of 3,000 shares of Series B Preferred Stock to be issued to the Selling Shareholders upon Closing, (and the opportunity for the Selling Shareholders to earn up to an additional 1,900 shares of Series B Preferred Stock upon reaching certain gross revenue benchmarks); and
 WHEREAS, the new Certificate of Designation for the Series B Preferred Stock of BRGO is attached hereto as “Schedule Amendment-C”, and shows in Section 1 thereof the increase in authorized shares from 49 to 4,900, and in Section 5 thereof, the conversion language changed accordingly so that the holders thereof shall have, in the aggregate, the same conversion rights as previously stated, as follows:
 Section 1. Designation, Amount and Par Value.  The series of preferred stock shall be designated as the Series B 2% Convertible Preferred Stock (the "Series B Preferred Stock"), and the number of shares so designated and authorized shall be Four Thousand Nine Hundred (4,900). Each share of Series B Preferred Stock shall have a par value of $0.00001 per share and a stated value of $100 per share (the "Stated Value").
  
 Section 5. Conversion.  Conversion at Option of Holder. Each share of Series B Preferred Stock shall be convertible into 0.01% of the total issued and outstanding shares of the Company’s Common Stock, (such that all 4,900 authorized shares of Series B Preferred Stock, if issued and outstanding, would be convertible in the aggregate into 49% of the total 
 
 
 issued and outstanding shares of the Company’s Common Stock) (as determined at the earlier of (i) the date of Conversion of the Series B Preferred Stock; and (ii) eighteen (18) months following February 10, 2021) ("Conversion Ratio"), at the option of a Holder, at any time and from time to time, from and after the issuance of the Series B Preferred Stock.
  
 NOW, THEREFORE, in consideration of the foregoing Recitals, and the covenants, representations and warranties set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and accepted, the Parties, intending to be legally bound, hereby agree as follows:
 1.  Proportionate Adjustment of Series B Preferred Stock.  The Parties hereby acknowledge and agree that a)  the Series B Preferred Stock Certificate of Designation attached hereto as “Schedule Amendment-C” reflects the increase in authorized shares of Series B Preferred Stock from 49 to 4,900, and that b) the conversion provision in Section 5 thereto has been changed accordingly, such that the Selling Shareholders shall be issued in the aggregate, a total of 3,000 shares of Series B Preferred Stock at Closing rather than 30 and that c) the Selling Shareholders shall have the opportunity to earn up to an additional 1,900 shares of Series B Preferred Stock rather than 19, under the same terms and conditions as were set forth in the Acquisition Agreement.
 2.  Allocation of Series B Preferred Stock Among the Selling Shareholders.  The Parties hereby acknowledge and agree that the allocation of Series B Preferred Stock attached hereto as “Schedule Amendment-I” reflects the proportionate adjustment of Series B Preferred Stock without fractional shares and sets forth the final allocation of the 3,000 shares of Series B Preferred Stock to be issued to the Selling Shareholders upon at Closing.
 3.  No Change to Acquisition Sub Shares.  The Acquisition Agreement states that 49,000 shares of Acquisition Sub common stock shall also be issued to the Selling Shareholders at Closing, and that has not changed.  The allocation of the 49,000 shares of Acquisition Sub to the Selling Shareholders is also set forth on “Schedule Amendment-I” hereto.
 4.  Defined Terms, and Interpretation.  Other than the proportionate adjustment of the Series B Preferred Stock as detailed herein, any conflict between this Amendment and the Acquisition Agreement shall be interpreted in favor of the Defined Terms contained in the Acquisition Agreement.
 5.  Entire Agreement and Modification. This Amendment is signed by all Parties to the Acquisition Agreement, and modifies the Acquisition Agreement only as expressly set forth above and on the attached Schedules hereto, and in all other respects, the terms and conditions of the Acquisition Agreement are in full force and effect.
 [Signatures follow on next page]
 
 2
 
 
 
 IN WITNESS WHEREOF, the undersigned have caused this First Amendment to the Acquisition Agreement dated February 10, 2021 to be executed as of the date first above written.
 PURCHASER:
  
 APHRODITE’S MARKETING, INC.
  
 By:  ___________________________
       Berge Abajian, President
  
  
 BRGO:
  
 BERGIO INTERNATIONAL, INC.
  
 By:  ___________________________
       Berge Abajian, Chief Executive Officer
  
  
 SELLER:
  
 DIGITAL AGE BUSINESS, INC.
  
 By:  ___________________________
       Jonathan Foltz, President
  
  
 SELLING SHAREHOLDERS:
  
 	  
	  
	  

	 Jonathan Foltz
	  
	 Umer Hadeed

	  
	  
	  

	  
	  
	  

	 Tiffany Barzaga
	  
	 Caroline Park

	  
	  
	  

	  
	  
	  

	 Erika Martinez
	  
	 Reese Jones

	  
	  
	  

	  
	  
	  

	 Melissa Robinson
	  
	 John B. Lowy

	  
	  
	  

	  
	  
	  

	 John Guercio
	  
	  

 
 
 
 
 Schedule Amendment-C 
 Certificate of Designation for Series B Preferred Stock
 BERGIO INTERNATIONAL, INC. (the “Company”)
 SERIES B 2% CONVERTIBLE PREFERRED STOCK TERMS
 Section 1. Designation, Amount and Par Value. 
 The series of preferred stock shall be designated as the Series B 2% Convertible Preferred Stock (the "Series B Preferred Stock"), and the number of shares so designated and authorized shall be Four Thousand Nine Hundred (4,900). Each share of Series B Preferred Stock shall have a par value of $0.00001 per share and a stated value of $100 per share (the "Stated Value").
  
 Section 2. Dividends.
 (a)  Holders of Series B Preferred Stock shall be entitled to receive, when and as declared by the Board of Directors out of funds legally available therefor, and the Company shall accrue, quarterly in arrears on March 31, June 30, September 30, and December 31 of each year, commencing on the Issuance Date, cumulative dividends on the Series B Preferred Stock at the rate per share (as a percentage of the Stated Value per share) equal to two percent (2%) per annum on the Stated Value., payable in additional shares of Series B Preferred Stock. The party that holds the Series B Preferred Stock on an applicable record date for any dividend payment will be entitled to receive such dividend payment and any other accrued and unpaid dividends which accrued prior to such dividend payment date, without regard to any sale or disposition of such Series B Preferred Stock subsequent to the applicable record date but prior to the applicable dividend payment date.
 (b)  So long as any shares of Series B Preferred Stock remain outstanding, neither the Company nor any subsidiary thereof shall, without the consent of the Holders of eighty percent (80%) of the shares of Series B Preferred Stock then outstanding (the "Requisite Holders), redeem, repurchase or otherwise acquire directly or indirectly any Junior Securities (as defined in Section 7), nor shall the Company directly or indirectly pay or declare any dividend or make any distribution upon, nor shall any distribution be made in respect of, any Junior Securities, nor shall any monies be set aside for or applied to the purchase or redemption (through a sinking fund or otherwise) of any Junior Securities.
 Section 3. Voting Rights; Negative Covenants. 
 Each holder of the Series B Preferred Stock shall have the right to vote on any matter that may from time to time be submitted to the Company's shareholders for a vote, on an as-converted basis, either by written consent or by proxy. So long as any shares of Series B Preferred Stock are outstanding, the Company shall not and shall cause its subsidiaries not to, without the affirmative vote of the Requisite Holders, (a) alter or change adversely the powers, preferences or rights given to the Series B Preferred Stock, (b) alter or amend this 
 
 
 
 
 Certificate of Designation, (c) amend its certificate of incorporation, bylaws or other charter documents so as to affect adversely any rights of any Holders of the Series B Preferred Stock, (d) increase the authorized or designated number of shares of Series B Preferred Stock, (e) apart from shares issued as a dividend pursuant to Section 2 (a), issue any additional shares of Series B Preferred Stock (including the reissuance of any shares of Series B Preferred Stock converted for Common Stock) or (f) enter into any agreement with respect to the foregoing.
 Section 4. Liquidation. 
 Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary or a Sale (as defined below) (a "Liquidation"), the holders of the Series B Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital or surplus, for each share of Series B Preferred Stock an amount equal to the Stated Value plus all accrued but unpaid dividends per share, whether declared or not, and all other amounts in respect thereof then due and payable prior to any distribution or payment shall be made to the holders of any Junior Securities, and if the assets of the Company shall be insufficient to pay in full such amounts, then the entire assets to be distributed to the holders of Series B Preferred Stock shall be distributed among the holders of Series B Preferred Stock ratably in accordance with the respective amounts that would be payable on such shares if all amounts payable thereon were paid in full. The Company shall mail written notice of any such Liquidation, not less than 45 days prior to the payment date stated therein, to each record Holder of Series B Preferred Stock. A "Sale" shall mean a sale of the majority of assets, a merger (other than where the Company is the surviving entity) or consolidation by the Company with another corporation or other entity.
 Section 5. Conversion.
 (a)  Conversion at Option of Holder. Each share of Series B Preferred Stock shall be convertible into 0.01% of the total issued and outstanding shares of the Company’s Common Stock, (such that all 4,900 authorized shares of Series B Preferred Stock, if issued and outstanding, would be convertible in the aggregate into 49% of the total issued and outstanding shares of the Company’s Common Stock) (as determined at the earlier of (i) the date of Conversion of the Series B Preferred Stock; and (ii) eighteen (18) months following February 8, 2021) ("Conversion Ratio"), at the option of a Holder, at any time and from time to time, from and after the issuance of the Series B Preferred Stock.  A Holder shall affect a conversion by surrendering to the Company the original certificate or certificates representing the shares of Series B Preferred Stock to be converted to the Company, together with a completed form of conversion notice attached hereto as Exhibit B (the "Conversion Notice"). Each Conversion Notice shall specify the number of shares of Series B Preferred Stock to be converted, the date on which such conversion is to be affected, which date may not be prior to the date the Holder delivers such Conversion Notice (the "Conversion Date"). If no Conversion Date is specified in a Conversion Notice, the Conversion Date shall be the date that the Conversion Notice is delivered pursuant to this Section 5(a).  Subject to Section 5(b) hereof, each Conversion Notice, once given, shall be irrevocable.
 
 
 
 
 (b)  The Company covenants that it will at all times: (i) reserve and keep available out of its authorized and unissued Common Stock solely for the purpose of issuance upon conversion of Series B Preferred Stock, as herein provided, free from preemptive rights or any other actual or contingent purchase rights of persons other than the holders of Series B Preferred Stock, not less than 100% of such number of shares of Common Stock as shall be issuable (taking into account the adjustments and restrictions of sub-section (b) upon the conversion of all outstanding shares of Series B Preferred Stock hereunder; and (ii) neither take nor approve any action which would alter the Conversion Rights set forth in Section 5 herein. The Company covenants that all shares of Common Stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued and fully paid and non-assessable.
 (c )  Upon a conversion hereunder the Company shall not be required to issue stock certificates representing fractions of shares of Common Stock, but may if otherwise permitted and unless waived by the Holder of the Series B Preferred Stock, make a cash payment in respect of any final fraction of a share based on the Per Share Market Value at such time. If the Company elects not, or is unable, to make such a cash payment, the Holder of a share of Series B Preferred Stock shall be entitled to receive, in lieu of the final fraction of a share, one whole share of Common Stock.
 (d) The issuance of certificates for shares of Common Stock on conversion of Series B Preferred Stock shall be made without charge to the Holders thereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificate, provided that the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the issuance and delivery of any such certificate upon conversion in a name other than that of the Holder of such shares of Series B Preferred Stock so converted and the Company shall not be required to issue or deliver such certificates unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.
 (e) Shares of Series B Preferred Stock converted into Common Stock shall be canceled and shall have the status of authorized but unissued shares of undesignated preferred stock; but no canceled Series B Preferred Shares may be reissued without the prior approval by the Requisite Holders.
 (f) Any and all notices or other communications or deliveries to be provided by the Holders of the Series B Preferred Stock hereunder, including, without limitation, any Conversion Notice, shall be in writing and delivered by facsimile, sent by a nationally recognized overnight courier service, or sent by certified or registered mail, postage prepaid, addressed to the attention of the President of the Company at the facsimile telephone number or address of the principal place of business of the Company. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered by facsimile, sent by a nationally recognized overnight courier service or sent by certified or registered mail, postage prepaid, addressed to each Holder of Series B Preferred Stock at the facsimile telephone number or address of such Holder appearing on the books of the Company, or if no such facsimile 
 
 
 
 
 telephone number or address appears, at the principal place of business of the Holder. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number specified in this Section prior to 5:00 p.m. (New York time), (ii) the date after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone number specified in this Section later than 5:00 p.m. (New York time) on any date and earlier than 11:59 p.m. (New York time) on such date, (iii) four days after deposit in the United States mails, (iv) the Business Day (as defined in Section 7) following the date of mailing, if send by nationally recognized overnight courier service, or (v) upon actual receipt by the party to whom such notice is required to be given.
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
 
 
 
 Schedule Amendment-I
 Share Issuances to the Selling Shareholders Upon Closing
  
 	 Selling Shareholder
 Name
	  
	 Series B Shares
 to Be Issued 
 Upon Closing
	  
	 Acquisition Sub Shares
 to Be Issued
 Upon Closing

	  
	  
	  
	  
	  

	 Jonathan Foltz
	  
	 2145
	  
	 35,280

	  
	  
	  
	  
	  

	 Umer Hadeed
	  
	 690
	  
	 11,760

	  
	  
	  
	  
	  

	 Tiffany Barzaga
	  
	 15
	  
	 245

	  
	  
	  
	  
	  

	 Erika Martinez
	  
	 15
	  
	 245

	  
	  
	  
	  
	  

	 Melissa Robinson
	  
	 30
	  
	 490

	  
	  
	  
	  
	  

	 Caroline Park
	  
	 15
	  
	 245

	  
	  
	  
	  
	  

	 Reese Jones
	  
	 15
	  
	 245

	  
	  
	  
	  
	  

	 John Lowy
	  
	 30
	  
	 490

	  
	  
	  
	  
	  

	 John Guercio
	  
	 45
	  
	 0

	  
	  
	  
	  
	  

	  
	  
	  
	  
	  

	 TOTALS:
	  
	 3,000
	  
	 49,000Exhibit 4.10
​

DESCRIPTION OF THE REGISTRANT’S SECURITIES 
REGISTERED PURSUANT TO SECTION 12 OF THE 
SECURITIES EXCHANGE ACT OF 1934 
​
Hilltop Holdings Inc. (“Hilltop,” “we,” “us,” or “our”) has common stock registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).
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The following is a brief description of the terms of our capital stock.  This summary does not purport to be complete in all respects.  This description is subject to, and qualified in its entirety by reference to, the Maryland General Corporation Law, federal law and our amended and restated charter, as amended, and our amended and restated bylaws, as amended, copies of which have been filed with the Securities and Exchange Commission (the “SEC”) and also are available upon request. 
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Our authorized capital stock consists of 125,000,000 shares of common stock, par value $0.01 per share, 10,000,000 shares of special voting stock, par value $0.01 per share, and 10,000,000 shares of preferred stock, par value $0.01 per share. Our common stock is listed on the New York Stock Exchange under the symbol “HTH.” Pursuant to our amended and restated charter, as amended, and the Maryland General Corporation Law, our board of directors, without stockholder approval, may amend our amended and restated charter, as amended, to increase or decrease the aggregate number of authorized shares of our stock or the number of authorized shares of any class of our stock.
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Common Stock
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General
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We may issue shares of common stock from time to time at the direction of our board of directors.
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Preemptive Rights and Appraisal Rights
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Holders of our common stock have no preemptive rights to subscribe for shares of common stock or any other class of stock that may be issued in the future. Holders of our stock also are not entitled to exercise any rights of an objecting stockholder provided for under Maryland General Corporation Law, unless our board of directors, upon an affirmative vote of a majority of the entire board of directors, shall determine that such rights apply, with respect to all or any classes or series of stock, to a particular transaction or all transactions occurring after the date of such determination.
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Dividend Rights
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Holders of all of our common stock are entitled to receive their pro rata share of dividends in the amounts and at the times declared by our board of directors in its discretion out of funds legally available for the payment of dividends. Any holders of preferred stock then outstanding may have a priority over the holders of our common stock with respect to dividends. 
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Voting Rights
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Each holder of our common stock is entitled to one vote per share of common stock. Directors are elected by a plurality of the shares actually voting on the matter. No share of common stock has any cumulative voting rights or is redeemable, assessable or entitled to the benefits of any sinking or repurchase fund. Any holders of preferred stock or special voting stock then outstanding also may possess voting rights.
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Liquidation Rights
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In the event of the liquidation, dissolution or winding up of Hilltop, whether voluntary or involuntary, the holders of our common stock would be entitled to receive, after payment or provision for payment of all our debts and liabilities and subject to the prior rights of any holders of preferred stock then outstanding, all of our assets available for distribution. Holders of common stock will share equally in our assets on liquidation after payment or 

provision for all liabilities and any preferential liquidation rights of any preferred stock then outstanding. Under Maryland law, our stockholders are generally not liable for our debts or obligations. All outstanding shares of common stock are fully paid and non-assessable.
Preferred Stock
At the direction of our board of directors, we may issue shares of preferred stock from time to time. Pursuant to our amended and restated charter, as amended, our board of directors may, without any action by holders of common stock, adopt resolutions to issue preferred stock by establishing the number, rights and preferences of, and designating, one or more series of preferred stock. The rights of any series of preferred stock may include, among others:
 
		●	general or special voting rights;

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		●	preferential liquidation or preemptive rights;

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		●	preferential cumulative or noncumulative dividend rights;

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		●	redemption or put rights; and

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		●	conversion or exchange rights.

We may issue shares of, or rights to purchase shares of, preferred stock the terms of which might:
 
		●	adversely affect voting or other rights evidenced by, or amounts otherwise payable with respect to, the common stock;

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		●	discourage an unsolicited proposal to acquire us; or

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		●	facilitate a particular business combination involving us.

Any of these actions could discourage a transaction that some or a majority of our stockholders might believe to be in their best interests or in which our stockholders might receive a premium for their stock over our then market price.
The summary of terms of the preferred stock contained in this Description of Securities is not complete. You should refer to our amended and restated charter, as amended, and specifically the articles supplementary for the applicable series of preferred stock, that will be filed with the SEC.  
​
Business Combinations Under Maryland Law
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Maryland Business Combination Statute
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Under Maryland law, “business combinations” between a Maryland corporation and an interested stockholder or an affiliate of an interested stockholder are prohibited for five years after the most recent date on which the interested stockholder becomes an interested stockholder. These business combinations include a merger, consolidation, share exchange, or, in circumstances specified in the statute, an asset transfer or issuance or reclassification of equity securities. An interested stockholder is defined as:
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		●	any person who beneficially owns, directly or indirectly, 10% or more of the voting power of the corporation’s then outstanding voting stock; or

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		●	an affiliate or associate of the corporation who, at any time within the two-year period prior to the date in question, was the beneficial owner, directly or indirectly, of 10% or more of the voting power of the then outstanding voting stock of the corporation.

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A person is not an interested stockholder under the statute if the board of directors approved in advance the transaction by which he otherwise would have become an interested stockholder. However, in approving a transaction, the board of directors may provide that its approval is subject to compliance, at or after the time of approval, with any terms and conditions determined by the board.
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After the five-year prohibition, any business combination between the Maryland corporation and an interested stockholder generally must be recommended by the board of directors of the corporation and approved by the affirmative vote of at least:
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		●	80% of the votes entitled to be cast by holders of outstanding shares of voting stock of the corporation; and

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		●	two-thirds of the votes entitled to be cast by holders of voting stock of the corporation other than shares held by the interested stockholder with whom or with whose affiliate the business combination is to be effected or held by an affiliate or associate of the interested stockholder, voting together as a single class.

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These super-majority vote requirements do not apply if the corporation’s common stockholders receive a minimum price, as defined under Maryland law, for their shares in the form of cash or other consideration in the same form as previously paid by the interested stockholder for its shares.
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The statute permits the board of directors to adopt a resolution opting out of the application of the statute, and our board of directors has adopted such a resolution. In addition, our amended and restated bylaws, as amended, contain a provision that requires us to obtain the approval of a majority of the votes cast by stockholders entitled to vote generally in the election of directors before it can opt back into the statute.
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Maryland Control Share Acquisition Statute
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Maryland law provides that control shares of a Maryland corporation acquired in a control share acquisition have no voting rights except to the extent approved by a vote of at least two-thirds of the votes entitled to be cast on the matter. Shares owned by the acquirer, by officers or by directors who are employees of the corporation are excluded from shares entitled to vote on the matter. Control shares are voting shares of stock which, if aggregated with all other shares of stock owned by the acquirer or in respect of which the acquirer is able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), would entitle the acquirer to exercise voting power in electing directors within one of the following ranges of voting power:
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		●	one-tenth or more but less than one-third;

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		●	one-third or more but less than a majority; or

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		●	a majority or more of all voting power.

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Control shares do not include shares the acquiring person is then entitled to vote as a result of having previously obtained stockholder approval or shares acquired directly from the corporation. A control share acquisition means the acquisition of control shares, subject to certain exceptions.
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A person who has made or proposes to make a control share acquisition may compel the board of directors of the corporation to call a special meeting of stockholders to be held within 50 days of demand to consider the voting rights of the shares. The right to compel the calling of a special meeting is subject to the satisfaction of certain conditions, including an undertaking to pay the expenses of the meeting. If no request for a meeting is made, the corporation may itself present the question at any stockholders meeting.
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If voting rights are not approved at the meeting or if the acquiring person does not deliver an acquiring person statement as required by the statute, then the corporation may redeem for fair value any or all of the control shares, except those for which voting rights have previously been approved. The right of the corporation to redeem control shares is subject to certain conditions and limitations. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of the last control share acquisition by the acquirer or of any meeting of stockholders at which the voting rights of the shares are considered and not approved. If voting rights for 

control shares are approved at a stockholders meeting and the acquirer becomes entitled to vote a majority of the shares entitled to vote, all other stockholders may exercise appraisal rights. The fair value of the shares as determined for purposes of appraisal rights may not be less than the highest price per share paid by the acquirer in the control share acquisition.
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The control share acquisition statute does not apply (i) to shares acquired in a merger, consolidation or share exchange if the corporation is a party to the transaction or (ii) to acquisitions approved or exempted by the charter or bylaws of the corporation.
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Our amended and restated bylaws, as amended, contain a provision exempting from the control share acquisition statute any and all acquisitions by any person of shares of our stock. In addition, our amended and restated bylaws, as amended, contain a provision that requires us to obtain the approval of a majority of the votes cast by stockholders entitled to vote generally in the election of directors before it can opt back into the statute.
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Maryland Unsolicited Takeovers Statute
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Notwithstanding any contrary provision in our amended and restated charter, as amended, or amended and restated bylaws, as amended, Maryland law provides that any Maryland corporation with a class of equity securities registered under the Exchange Act and at least three independent directors may elect to be subject, by a provision in its charter or bylaws or a resolution of its board of directors, to any or all of the following provisions:
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		●	classifying the board;

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		●	requiring a two-thirds vote to remove a director;

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		●	requiring that the number of directors be fixed only by vote of the board of directors;

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		●	requiring that a vacancy on the board of directors be filled only by the remaining directors and for the remainder of the full term of the class of directors in which the vacancy occurred; and

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		●	requiring that a stockholder meeting only be called upon the request of stockholders if stockholders entitled to cast a majority of the votes entitled to be cast at a meeting deliver a written request for the calling of a special meeting of stockholders.

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We currently have more than three independent directors and have a class of equity securities registered under the Exchange Act, and therefore, our board of directors may elect to provide for any of the foregoing provisions. As of the date hereof, our board of directors has elected to vest in our board of directors the power to fix the number of directors. Additionally, through other provisions of our amended and restated charter, as amended, and amended and restated bylaws, as amended, unrelated to the Maryland unsolicited takeovers statute, we (a) require a two-thirds vote to remove a director and (b) require vacancies on the board of directors to be filled by the remaining directors for the full term of the directorship in which the vacancy occurred. 
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Action by Consent
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Our amended and restated bylaws, as amended, and Maryland law provide that any action that can be taken at any special or annual meeting of stockholders may be taken by unanimous written consent of all stockholders entitled to vote.
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Certain Charter and Bylaw Provisions
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Anti-Takeover Provisions
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Our amended and restated charter, as amended, and amended and restated bylaws, as amended, contain certain provisions that could discourage potential takeover attempts and make it more difficult for our stockholders to change management or receive a premium for their shares. These provisions include:
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		●	authorizations for our board of directors to increase the number of authorized shares of any class of stock and to issue preferred stock without stockholder approval;

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		●	authorization for our board of directors to alter, amend or repeal the bylaws, or to enact new bylaws; 

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		●	that directors may only be removed for cause and then by an affirmative vote of at least two-thirds of the votes entitled to be cast in the election of directors;

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		●	a limitation that only one or more stockholders that collectively hold, and have continuously collectively held for at least one year, as of the record date of the proposed meeting, 15% or more of the shares entitled to be voted at such proposed meeting may require a special meeting of stockholders to be called; 

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		●	limitations on the ability of stockholders to require multiple special meetings relating to a similar item to be called; and

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		●	advance notice procedures with respect to stockholder proposals of matters to be acted upon at a stockholder meeting and stockholder nominations of candidates for election as directors.

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Further, the Maryland General Corporation Law provides that stockholders are not entitled to cumulative voting in the election of directors unless the charter provides otherwise. Our charter does not provide for cumulative voting. 
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Choice of Forum
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Our amended and restated bylaws, as amended, provide that, unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (a) any derivative action or proceeding brought on our behalf,  (b) any action asserting a claim of breach of a fiduciary duty owed by any director or officer or other employee of Hilltop to us or our stockholders, (c) any action asserting a claim against us or any director or officer or other employee of Hilltop arising pursuant to any provision of the Maryland General Corporation Law or our amended and restated charter, as amended, or amended and restated bylaws, as amended, or (d) any action asserting a claim against us or any director or officer or other employee of Hilltop governed by the internal affairs doctrine shall be a state court located within the State of Maryland (or, if no state court located within the State of Maryland has jurisdiction, the federal district court for the District of Maryland).
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There is uncertainty as to whether a court would enforce our forum selection provision as written in connection with claims arising under the federal securities laws. This forum selection provision may limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us. It is also possible that, notwithstanding the forum selection clause included in our amended and restated bylaws, as amended, a court could rule that such a provision is inapplicable or unenforceable.
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Ownership Limitations
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Federal and state laws, including the Bank Holding Company Act and the Change in Bank Control Act, impose notice, approval and ongoing regulatory requirements on any investor that seeks to acquire direct or indirect “control” of a regulated holding company, such as our Company. The determination of whether an investor “controls” a regulated holding company is based on all of the facts and circumstances surrounding the investment. As a general matter, an investor is deemed to control a depository institution or other company if the investor owns or controls 25% or more of any class of voting stock, and in certain other circumstances, an investor may be presumed to control a depository institution or other company if the investor owns or controls less than 25% or more of any class of voting stock. 
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Further, under FINRA rules, any change in control of our subsidiaries Hilltop Securities Inc. and Hilltop Securities Independent Network Inc., including through acquisition, is subject to prior regulatory approval by FINRA.
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Any of these laws or regulations may discourage potential acquisition proposals and may delay, deter or prevent change of control transactions involving Hilltop, including those that some or all of our stockholders might consider to be desirable.
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Transfer Agent and Registrar
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The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company.

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