Document:

alco-ex102_303.htm

Exhibit 10.2

 

 

FIRST AMENDMENT TO

OPTION AGREEMENT FOR SALE AND PURCHASE

 

THIS FIRST AMENDMENT TO OPTION AGREEMENT FOR SALE AND PURCHASE (“First Amendment”) is made and entered, by and between Alico, Inc., a Florida corporation, (“Seller”) and the BOARD OF TRUSTEES OF THE INTERNAL IMPROVEMENT TRUST FUND OF THE STATE OF FLORIDA (“Buyer”).

R E C I T A L S:

A.Seller and Buyer entered into an Option Agreement for Sale and Purchase dated on or about December 15, 2020 (the “Agreement”).

B.The Agreement concerns the Seller’s sale of certain Property in Hendry County, Florida, to the Buyer, as such Property is more particularly described in the Agreement.

C.Seller and Buyer wish to acknowledge the Final Adjusted Purchase Price is $14,445,000.00 per the terms of the Agreement.

D.Seller and Buyer wish to amend Paragraph 9 to change the reference from Official Records Book 588, Page 1125 to Official Records Book 591, Page 687.

NOW THEREFORE, in consideration of the Recitals, Ten Dollars, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer mutually agree as follows:

1.Recitals. The Recitals set forth hereinabove are true and correct, and such Recitals and the Agreement are incorporated herein by reference.

2.Ratification. Except as modified by this First Amendment, the Agreement is hereby ratified and confirmed. In the event of a conflict between the Agreement and this First Amendment, this First Amendment shall control. Hereinafter, the term Agreement shall collectively mean the Agreement, as modified by this First Amendment.

IN WITNESS WHEREOF, Seller has set its hand and seal as of the date set forth below.  

 

 

1

 
 

 

			
	
Witnesses as to Seller
	
 
	
Seller

	
 
	
 
	
 

Alico, Inc, a Florida corporation

	
 
	
 
	
 

	
 
	
 
	
John E. Kiernan, as President and CEO

	
Print Name: 
	
 
	
 

	
 
	
 
	
Date: 

	
 

Print Name: 
	
 
	
 

 

 

IN WITNESS WHEREOF, Buyer has set its hand and seal as of the date set forth below.

		
	
Witnesses as to Buyer
	
Buyer

	
 
	
 

	
 
	
BOARD OF TRUSTEES OF THE INTERNAL

IMPROVEMENT TRUST FUND OF THE

STATE OF FLORIDA

 

BY: DIVISION OF STATE LANDS OF THE STATE OF

FLORIDA DEPARTMENT OF ENVIRONMENTAL

PROTECTION

	
 
	
 

	
 
	
By: (SEAL)

Callie DeHaven, as Director

	
 
	
 

	
Print Name: 
	
Date: 

	
 
	
 

	
 
	
 

	
 
	
 

	
Print Name: 
	
 

	
 
	
 

	
 
	
Approved as to Form and Legality:

 

 

By:

DEP Attorney

Date: 

 

2Exhibit
4.15

 

Description
of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934

 

Bone
Biologics Corporation (“Bone,” “we,” “our,” and “us”) has one class of securities registered
under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock, par value $0.0001 per share (the “common
stock”).

 

The
following description of our common stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety
by reference to (1) our Amended and Restated Certificate of Incorporation, (the “Certificate of Incorporation”) filed as
an Exhibit to our current report on Form 8-K on September 25, 2014, and (2) our Amended and Restated Bylaws (the “Bylaws”)
filed as an Exhibit to our current report on Form 8-K on September 25, 2014, each of which is filed as an exhibit to our Annual Report
on Form 10-K of which this Exhibit 4.14 is a part. We encourage you to read the Certificate of Incorporation and the Bylaws, as well
as the applicable provisions of the Delaware General Corporation Law (the “DGCL”), for additional information.

 

Authorized
Capital Stock

 

Our
authorized capital stock consists of 100,000,000 shares of common stock and 20,000,000 shares of preferred stock, par value $0.0001 per
share (the “Preferred Stock”). As of December 31, 2020, 30,682,590 shares of our common stock were issued and outstanding,
all of which are fully paid and nonassessable, and no shares of our Preferred Stock were issued and outstanding.

 

Common
Stock

 

Voting
Rights

 

Holders
of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative
voting rights. An election of directors by our stockholders will be determined by a plurality of the votes cast by the stockholders entitled
to vote on the election.

 

Dividend
Rights

 

Holders
of common stock are entitled to receive proportionately any dividends that may be declared by our Board of Directors, subject to any
preferential dividend rights of any series of preferred stock that we may designate and issue.

 

Liquidation
Rights

 

In
the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately our net assets available
for distribution to stockholders after the payment of all debts and other liabilities and subject to the preferential rights of any outstanding
preferred stock.

 

    	1 

     

    

 

Absence
of Other Rights

 

Holders
of our common stock have no preemptive, subscription, redemption, or conversion rights. The rights, preferences, and privileges of holders
of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock
that we may designate and issue.

 

Preferred
Stock

 

Under
our Certificate of Incorporation, our Board of Directors has the authority, without further action by stockholders, to designate one
or more series of preferred stock and to fix the voting powers, designations, preferences, limitations, restrictions, and relative rights
granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption,
liquidation preference, and sinking fund terms, any or all of which may be preferential to or greater than the rights of the common stock.

 

The
authority possessed by our Board of Directors to issue preferred stock could potentially be used to discourage attempts by third parties
to obtain control of our company through a merger, tender offer, proxy contest, or otherwise by making such attempts more difficult or
more costly. Our Board of Directors may issue preferred stock with voting rights, conversion rights, and other rights that, if exercised,
could adversely affect the voting power of the holders of common stock.

 

Anti-Takeover
Effects of Our Certificate of Incorporation and Bylaws

 

Certain
provisions of our Certificate of Incorporation and Bylaws contain provisions that could have the effect of delaying or discouraging another
party from acquiring control of us. These provisions, which are summarized below, are expected to discourage certain types of coercive
takeover practices and inadequate takeover bids.

 

Our
Certificate of Incorporation and Bylaws include provisions that:

 

	 	●	authorize
    our Board of Directors to issue, without further action by the stockholders, up to 20,000,000 shares of preferred stock in one or
    more series designated by the Board of Directors;
	 	 	 
	 	●	specify
    that meetings of our stockholders can be called only by our Board of Directors, or any officer instructed by the director to call
    the meeting;
	 	 	 
	 	●	provide
    that vacancies on our Board of Directors may be filled only by the vote of a majority of the remaining directors even though less
    than a quorum.

 

    	2 

     

    

 

Delaware
Anti-Takeover Statute

 

We
are subject to the provisions of Section 203 of the DGCL regulating corporate takeovers. In general, Section 203 prohibits a publicly-held
Delaware corporation such as Bone Biologics Corp. from engaging in a “business combination” with an “interested
stockholder” for a period of three years following the date the person became an interested stockholder unless:

 

	 	●	prior
    to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction
    which resulted in the stockholder becoming an interested stockholder;
	 	 	 
	 	●	upon
    completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned
    at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of
    determining the voting stock outstanding, but not for determining the outstanding voting stock owned by the interested stockholder,
    (1) shares owned by persons who are directors and also officers of the corporation and (2) shares owned by employee stock plans in
    which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered
    in a tender or exchange offer; or
	 	 	 
	 	●	at
    or subsequent to the date of the transaction, the business combination is approved by the board of directors of the corporation and
    authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66-2/3%
    of the outstanding voting stock which is not owned by the interested stockholder.

 

In
this context, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial
benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates,
owns or, within three years prior to the determination of interested stockholder status, did own 15% or more of a corporation’s
outstanding voting stock. We expect the existence of this provision to have an anti-takeover effect with respect to transactions our
Board of Directors does not approve in advance. We also anticipate that Section 203 may discourage business combinations or other attempts
that might result in a premium over the market price for the shares of common stock held by our stockholders.

 

    	3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]