Document:

Exhibit
10.2

 

MUTUAL
NON-SOLICITATION AND NON-INTERFERENCE AGREEMENT

 

This
Mutual Non-Solicitation and Non-Interference Agreement (“Non-Solicitation Agreement”) is entered into to be effective as
of the _________ day of _______________, 2022 (“Effective Date”), between Palmdale Oil Company, Inc., a Florida corporation
(hereinafter referred to as “Palmdale”) and EzFill Holdings, Inc., a Delaware corporation (hereinafter referred to as
“EzFill”). Palmdale and EzFill shall sometimes be referred to individually as a “Party” or collectively
referred to as “Parties.”

 

RECITALS

 

WHEREAS,
Palmdale is engaged in the businesses of (i) selling petroleum products, fuel (including diesel fuel and gasoline), oil, lubricants
(including heavy-duty diesel engine oils, industrial oils, transmission fluids, passenger car motor oils, food grade products, and a
variety of other oils and greases) and products/equipment incident thereto (including tanks and pumps), and (ii) providing services including
but not limited to fueling sea vessels, fleet fueling, bulk delivery of diesel fuel, gasoline, lubricants and other specialty services
to members of the public, consumers, retailers, wholesalers, affiliated companies and entities and third parties who are in engaged in
the business of purchasing and selling fuel, oil, petroleum and products incident thereto, in Florida (the “Wholesale Petroleum
Business”); and

 

WHEREAS,
EzFill purchased certain assets of the residential and retail mobile fuel delivery business (the “Mobile Fuel Delivery Business”)
of Full Service Fueling, Inc. (“Seller”), an affiliate of Palmdale Oil Company, Inc. pursuant to an Asset Purchase and Fuel
Supply Agreement (the “Purchase Agreement”), which Assets include Seller’s goodwill; and

 

WHEREAS,
Seller has ceased doing business; and

 

WHEREAS,
Palmdale and EzFill will be entering into a Fuel Loading Rack License Agreement (the “License Agreement”) granting EzFill
a non-exclusive license to use the fuel loading racks, and three parking spaces at Palmdale’s existing fueling facilities located
in West Palm Beach, Riviera Beach, Boynton Beach, Ft. Myers, Tampa and Orlando, Florida (“Palmdale’s Facilities”),
and providing that EzFill will use Palmdale as its supplier throughout the State of Florida; and

 

WHEREAS,
the parties desire to set forth in writing the terms of their business arrangement that supersedes any and all prior agreements and representations,
whether oral or written on the issues set forth herein; and

 

NOW,
THEREFORE, in consideration of the premises and mutual covenants hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged by each party, the parties agree as follows:

 

1. RECITALS:
The Recitals are true and correct and are hereby made a part of this Non-Solicitation and Non-Interference Agreement.

 

    	 

    	 

    

 

2. COVENANT
NOT TO SOLICIT, OR INTERFERE WITH CUSTOMERS:

 

		a.	Restrictions
                                            on Solicitation or Interference for EzFill. During the period that the License Agreement
                                            is in effect, and for a period of two (2) years from termination of the License Agreement
                                            (for any reason) EzFill shall not directly or indirectly, on its own account or as an agent,
                                            owner or affiliate of any other firm, partnership or corporation, solicit business from,
                                            or without the prior written consent of Palmdale, which shall not be unreasonably withheld,
                                            deliver products or services in the Wholesale Petroleum Business to or for customers (“Palmdale
                                            Customers”) to or for whom any employees of Palmdale sold products, or performed services
                                            at any time within the preceding one hundred-eighty (180) days.

 

		b.	Restrictions
                                            on Solicitation or Interference for Palmdale. During the period that the License Agreement
                                            is in effect, and for a period of two (2) years from termination of the License Agreement
                                            (for any reason), Palmdale shall not directly or indirectly, on its own account or as an
                                            agent, owner or affiliate of any other firm, partnership or corporation, solicit business
                                            from, or without the prior written consent of EzFill, which shall not be unreasonably withheld,
                                            deliver products or services in the Mobile Fuel Delivery Business to or for customers (“EzFill
                                            Customers”) to or for whom any employees of Seller or EzFill sold products,
                                            or performed services at any time within the preceding one hundred-eighty (180) days.

 

3. COVENANT
NOT TO SOLICIT EMPLOYEES:

 

		a.	Restrictions
                                            on Solicitation of Employees. During the term of the License Agreement, and for a period
                                            of one (1) year from the date of termination of the License Agreement (for any reason), Palmdale
                                            and EzFill shall not directly or indirectly, on their own account or through any other firm,
                                            partnership or corporation, in any way directly or indirectly, hire, do any business with,
                                            solicit, divert, take away, endeavor to entice away from the each other, or interfere with
                                            any of the other Party’s employees, independent contractors or personnel (collectively
                                            referred to as “Employees”). This prohibition shall include each Party’s
                                            former Employees for a period of two (2) years from the date of termination of the Employee’s
                                            affiliation with the other Party (for any reason). This prohibition does not include employees
                                            who approach a Party on their own, or who are brought to the Party from a third-party service
                                            (such as finding a resume on Indeed, or a similar website), provided that the other party
                                            give its prior consent in writing to the hiring, which consent shall not be unreasonably
                                            withheld.

 

		b.	Acknowledgments.
                                            The Parties acknowledge that the term of the covenants contained in this Paragraph 3 is a
                                            minimum period of time and that the restriction is reasonable and necessary in order to protect
                                            each Party from irreparable harm and to protect each Party’s respective legitimate
                                            business interests.

 

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4. CROSS
DEFAULT: A breach of any terms of this Non-Solicitation and Non-Interference Agreement shall constitute a default under the License
Agreement.

 

5. INTEGRATION
AND WAIVER: No waiver or modification of this Non-Solicitation and Non-Interference Agreement or of any covenant, condition, or limitation
herein contained shall be valid unless in writing and duly executed by the parties hereto. The provisions of this section may not be
waived except as herein set forth. This Non-Solicitation and Non-Interference Agreement supersedes all prior agreements, arrangements,
or representations between the parties, whether written or oral as to the specific matters set forth herein. The failure to insist, at
any time, upon strict performance of any one or more covenants, provisions or conditions of this Non-Solicitation and Non-Interference
Agreement shall not be construed as a waiver or relinquishment of that covenant, provision or condition or the future performance of
that or any other such covenant, provision or condition, and that party’s obligation with respect to that covenant, provision or
condition or the future performance of any such covenant, provision or condition shall continue in full force and effect. The acceptance
by either party of the other party’s performance under this Non-Solicitation and Non-Interference Agreement with knowledge of the
performing party’s breach of any covenant, provision or condition of this Non-Solicitation and Non-Interference Agreement shall
not be deemed a waiver of that breach. No waiver of performance of any covenant or condition of this Non-Solicitation and Non-Interference
Agreement shall be deemed to have been made unless expressed in writing and signed by the parties.

 

6. SUCCESSORS/ASSIGNS:
The rights and obligations of the Parties under this Non-Solicitation and Non-Interference Agreement (including the covenants not
to compete /or solicit) shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns.
The Parties acknowledge that this Non-Solicitation and Non-Interference Agreement may be enforced by their respective successors and
assigns.

 

7. INDEPENDENT
COVENANTS: The rights and obligations of the Parties under this Non-Solicitation and Non-Interference Agreement (including the covenants
not to compete or solicit) shall be construed as agreements independent of any other agreement, or any provision contained therein (whether
written or oral) by, between, among, or affecting Palmdale, EzFill, and the existence of any claim or cause of action of either Party
against the other Party, whether predicated on this Non-Solicitation and Non-Interference Agreement, the Purchase Agreement, or otherwise,
shall not constitute a defense to the enforcement of this Non-Solicitation and Non-Interference Agreement, nor shall such claim or cause
of action in any way affect the enforceability of this Non-Solicitation and Non-Interference Agreement.

 

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8. FLORIDA
LAW, VENUE AND LITIGATION: The validity, interpretation, and performance of this Non-Solicitation and Non-Interference Agreement
shall be construed and enforced under and in accordance with the laws of the State of Florida. Venue shall lie exclusively in Palm Beach
County as the forum for any disputes concerning this Non-Solicitation and Non-Interference Agreement regardless of whether the dispute
concerns any contractual or tortious or other claim. In connection with any litigation or court proceeding arising out of this Non-Solicitation
and Non-Interference Agreement, the prevailing party shall be entitled to recover all costs incurred, including attorneys’ and
legal assistants’ fees and all costs prior to trial, at trial, and on appeal, and in any bankruptcy or creditor’s reorganization
proceedings. The prevailing party shall be entitled to recover reasonable attorneys’ fees and all costs associated with proving
both entitlement and amount of attorney’s fees and costs. The Parties voluntarily, knowingly, and intentionally waive any and all
rights to trial by jury in any legal action or proceeding arising under or in connection with this Non-Solicitation and Non-Interference
Agreement regardless of whether such action or proceeding concerns any contractual or tortious or other claim.

 

9. INJUNCTIVE
RELIEF: The Parties acknowledge that monetary damages for breach of any of the obligations or undertakings contained in Paragraphs
2 and 3 will be inadequate, and the Parties agree that the non-breaching Party shall be entitled to preliminary and permanent injunctive
relief, in addition to any other legal remedies that may be available to it, including attorney’s fees and costs, in the event
of any breach by the breaching Party of any such obligation or undertaking contained in Paragraphs 2 and 3 of this Non-Solicitation and
Non-Interference Agreement. In any such proceeding under this Paragraph: (i) it shall not be necessary for the non-breaching Party to
plead or prove irreparable harm or lack of adequate remedy at law; (ii) the non-breaching Party shall be entitled to injunctive relief,
including preliminary and final injunctions, without being required to post a bond or other security; and (iii) the breaching Party waives
the claim or defense therein that the non-breaching Party has an adequate remedy at law and breaching Party shall not urge in any such
action or proceeding the claim or defense that such remedy at law exists.

 

10. CAPTIONS:
The captions appearing in this Non-Solicitation and Non-Interference Agreement are inserted as a matter of convenience and for reference
and in no way affect this Non-Solicitation and Non-Interference Agreement, define, limit, or describe its scope, intent, or any of its
provisions.

 

11. SEVERABILITY:
If any provision contained in this Non-Solicitation and Non-Interference Agreement shall for any reason be held to be invalid, illegal,
void or unenforceable in any respect, such provision shall be deemed modified so as to constitute a provision conforming as nearly as
possible to such invalid, illegal, void or unenforceable provision while still remaining valid and enforceable, and the remaining terms
or provisions contained herein shall not be affected thereby.

 

12. NOTICES:
Unless otherwise set forth herein, any notice or demand which must or may be given shall be in writing and shall be deemed to have been
given: (i) when physically received by personal delivery , or (ii) three (3) days after being deposited in United States first class
mail, postage prepaid, or (iii) one (1) business day after being deposited with, or for overnight delivery by a nationally known commercial
courier service (such as FedEx) or (iv) when delivered by e-mail as evidenced by electronic receipt addressed to the parties at their
addresses as listed below (or such other address as designated by the parties in writing):

 

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As
to Palmdale:

 

Palmdale
Oil Company, Inc.

911
North 2nd Street

Fort
Pierce, Florida 34950

Attention:
Lachlan Cheatham, President

 

with
a copy to:

 

Jeffrey
M. Garber, Esq.

Ciklin
Lubitz

515
North Flagler Drive, 20th Floor

West
Palm Beach, Florida 33401

 

As
to EzFill:

_________________________________

__________________________________

__________________________________

 

13. INDEPENDENT
COUNSEL: The parties hereto have had the opportunity to seek and receive independent advice and counsel regarding the subject matter
of this Non-Solicitation and Non-Interference Agreement and all the terms and conditions it contains. This Non-Solicitation and Non-Interference
Agreement shall not be construed more strongly for or against any party regardless which party is deemed to have drafted the Non-Solicitation
and Non-Interference Agreement.

 

14. MULTIPLE
COUNTERPARTS: This Non-Solicitation and Non-Interference Agreement may be executed in any number of counterparts, each of which shall
be deemed to be an original of this Non-Solicitation and Non-Interference Agreement and all such counterparts shall constitute one instrument.
Facsimile and electronic signatures shall be deemed as originals for purposes of this Non-Solicitation and Non-Interference Agreement.

 

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IN
WITNESS WHEREOF, the parties hereunto have set their hands and seals to this Agreement on the Effective Date first above written.

 

	PALMDALE
    OIL COMPANY, INC.	 	EZFILL
    HOLDINGS, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	 	Signature	 	 	Signature
	 	 	 	 	 
	 	 	 	 	 
	Print Name and Title	 	Print Name and Title

 

    	6EX-4.2

  Exhibit 4.2

  DESCRIPTION OF CAPITAL STOCK

  General

  Our authorized capital stock consists of 1,000,000,000 shares of common stock, par value $0.001 per share, and 100,000,000 shares of undesignated preferred stock, par value $0.001 per share. As of the February 28, 2022, we had 187,067,046 shares of our common stock outstanding. The following description of our capital stock is intended as a summary only and is qualified in its entirety by reference to our certificate of incorporation and bylaws, which are filed as exhibits to this Annual Report on Form 10-K, and to the applicable provisions of the DGCL.

  Common Stock

  Dividend Rights. Subject to preferences that may apply to shares of preferred stock outstanding at the time, holders of outstanding shares of common stock are entitled to receive dividends out of assets legally available at the times and in the amounts as our Board may determine from time to time.

  Voting Rights. Each outstanding share of common stock is entitled to one vote on all matters submitted to a vote of shareholders. Holders of shares of our common stock have no cumulative voting rights.

  Preemptive Rights. Our common stock is not entitled to preemptive or other similar subscription rights to purchase any of our securities.

  Conversion or Redemption Rights. Our common stock is neither convertible nor redeemable.

  Liquidation Rights. Upon our liquidation, the holders of our common stock will be entitled to receive pro rata our assets that are legally available for distribution, after payment of all debts and other liabilities and subject to the prior rights of any holders of preferred stock then outstanding.

  Preferred Stock

  Our Board may, without further action by our shareholders, from time to time, direct the issuance of shares of preferred stock in series and may, at the time of issuance, determine the designations, powers, preferences, privileges, and relative participating, optional or special rights as well as the qualifications, limitations or restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption and liquidation preferences, any or all of which may be greater than the rights of the common stock. Satisfaction of any dividend preferences of outstanding shares of preferred stock would reduce the amount of funds available for the payment of dividends on shares of our common stock. Holders of shares of preferred stock may be entitled to receive a preference payment in the event of our liquidation before any payment is made to the holders of shares of our common stock. Under certain circumstances, the issuance of shares of preferred stock may render more difficult or tend to discourage a merger, tender offer or proxy contest, the assumption of control by a holder of a large block of our securities or the removal of incumbent management. Upon the affirmative vote of a majority of the total number of directors then in office, our Board, without shareholder approval, may issue shares of preferred stock with voting and conversion rights which could adversely affect the holders of shares of our common stock and the market value of our common stock.

  Anti-Takeover Effects of Our Certificate of Incorporation and Our Bylaws

  Our certificate of incorporation, bylaws and the DGCL contain provisions, which are summarized in the following paragraphs, that are intended to enhance the likelihood of continuity and stability in the composition of our Board. These provisions are intended to avoid costly takeover battles, reduce our vulnerability to a hostile change of control and enhance the ability of our Board to maximize shareholder value in connection with any unsolicited offer to acquire us. However, these provisions may have an anti-takeover effect and may delay, deter or prevent a merger or acquisition of the Company by means of a tender offer, a proxy contest or other takeover attempt that a shareholder might consider in its best interest, including those attempts that might result in a premium over the prevailing market price for the shares of common stock held by shareholders.

  

  These provisions include:

  Classified Board. Our certificate of incorporation provides that our Board will be divided into three classes of directors, with the classes as nearly equal in number as possible, and with the directors serving three-year terms. As a result, approximately one-third of our Board will be elected each year. The classification of directors has the effect of making it more difficult for shareholders to change the composition of our Board. Our certificate of incorporation also provides that, subject to any rights of holders of preferred stock to elect additional directors under specified circumstances, the number of directors will be fixed exclusively pursuant to a resolution adopted by our Board.

  Shareholder Action by Written Consent. Our certificate of incorporation precludes shareholder action by written consent at any time when the Lead Sponsors beneficially own, in the aggregate, less than 40% in voting power of our outstanding common stock.

  Special Meetings of Shareholders. Our certificate of incorporation and bylaws provide that, except as required by law, special meetings of our shareholders may be called at any time only by or at the direction of our Board or the chairman of our Board provided, however, at any time when the Lead Sponsors beneficially own, in the aggregate, at least 40% of our outstanding common stock, special meetings of our shareholders shall also be called by our Board or the chairman of our Board at the request of either of the Lead Sponsors. Our bylaws prohibit the conduct of any business at a special meeting other than as specified in the notice for such meeting. These provisions may have the effect of deferring, delaying or discouraging hostile takeovers, or changes in control or management of the Company.

  Advance Notice Procedures. Our bylaws establish advance-notice procedures with respect to shareholder proposals and the nomination of candidates for election as directors, other than nominations made by or at the direction of our Board or a committee of our Board, and provided, however, that at any time when the Lead Sponsors beneficially own, in the aggregate, at least 40% in voting power of our outstanding common stock, such advance notice procedure will not apply to such Lead Sponsor. Shareholders at an annual meeting will only be able to consider proposals or nominations specified in the notice of meeting or brought before the meeting by or at the direction of our Board or by a shareholder who was a shareholder of record on the record date for the meeting, who is entitled to vote at the meeting and who has given our Secretary timely written notice, in proper form, of the shareholder’s intention to bring that business before the meeting. Although the bylaws do not give our Board the power to approve or disapprove shareholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, the bylaws may have the effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed or may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of the Company. These provisions do not apply to nominations by the Lead Sponsors pursuant to the Stockholders Agreement. 

  Removal of Directors; Vacancies. Our certificate of incorporation provides all directors may only be removed for cause, and only by the affirmative vote of holders of at least 66 2/3% in voting power of all the then- outstanding shares of stock of the Company entitled to vote thereon, voting together as a single class. In addition, our certificate of incorporation also provides that, subject to the rights granted to one or more series of preferred stock then outstanding, any newly created directorship on our Board that results from an increase in the number of directors and any vacancy occurring on our Board may only be filled by a majority of the directors then in office, even if less than a quorum, or by a sole remaining director (and not by the shareholders).

  Supermajority Approval Requirements

  Our certificate of incorporation and bylaws provide that our Board is expressly authorized to make, alter, amend, change, add to, rescind or repeal, in whole or in part, our bylaws without a shareholder vote in any matter not inconsistent with the laws of the State of Delaware and our certificate of incorporation. Any amendment, alteration, rescission or repeal of our bylaws by our shareholders requires the affirmative vote of the holders of at least 66 2/3% in voting power of all the then-outstanding shares of stock of the Company entitled to vote thereon, voting together as a single class.

  

  The DGCL provides generally that the affirmative vote of a majority of the outstanding shares entitled to vote thereon, voting together as a single class, is required to amend a corporation’s certificate of incorporation, unless the certificate of incorporation requires a greater percentage.

  Our certificate of incorporation provides that the following provisions in our certificate of incorporation may be amended, altered, repealed or rescinded only by the affirmative vote of the holders of at least 66 2/3% in voting power of all the then-outstanding shares of stock of the Company entitled to vote thereon, voting together as a single class:

  •the provision requiring a 66 2/3% supermajority vote for shareholders to amend our bylaws;

  •the provisions providing for a classified board of directors (the election and term of our directors);

  •the provisions regarding resignation and removal of directors;

  •the provisions regarding entering into business combinations with interested shareholders;

  •the provisions regarding shareholder action by written consent;

  •the provisions regarding calling special meetings of shareholders;

  •the provisions regarding filling vacancies on our Board and newly created directorships;

  •the provision establishing the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation;

  •the provisions eliminating monetary damages for breaches of fiduciary duty by a director; and

  •the amendment provision requiring that the above provisions be amended only with a 66 2/3% supermajority vote.

  The combination of the classification of our Board, the lack of cumulative voting and the supermajority voting requirements make it more difficult for our existing shareholders to replace our Board as well as for another party to obtain control of us by replacing our Board. Because our Board has the power to retain and discharge our officers, these provisions could also make it more difficult for existing shareholders or another party to effect a change in management.

  Authorized but Unissued Shares

  Our authorized but unissued shares of common stock and preferred stock are available for future issuance without shareholder approval, subject to stock exchange rules. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. One of the effects of the existence of authorized but unissued common stock or preferred stock may be to enable our Board to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of the Company by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and possibly deprive our shareholders of opportunities to sell their shares of common stock at prices higher than prevailing market prices.

  Business Combinations

  We are not be subject to the provisions of Section 203 of the DGCL. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested shareholder” for a three-year period following the time that the person becomes an interested shareholder, unless the business combination is approved in a prescribed manner. A “business combination” includes, among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested shareholder. An “interested shareholder” is a person who, together with affiliates and associates, owns, or did own within three years prior to the determination of interested shareholder status, 15% or more of the corporation’s voting stock.

  

  Under Section 203, a business combination between a corporation and an interested shareholder is prohibited unless it satisfies one of the following conditions: (1) before the shareholder became an interested shareholder, the board of directors approved either the business combination or the transaction which resulted in the shareholder becoming an interested shareholder; (2) upon consummation of the transaction which resulted in the shareholder becoming an interested shareholder, the interested shareholder 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, shares owned by persons who are directors and also officers, and employee stock plans, in some instances; or (3) at or after the time the shareholder became an interested shareholder, the business combination was approved by the board of directors and authorized at an annual or special meeting of the shareholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested shareholder.

  A Delaware corporation may “opt out” of these provisions with an express provision in its original certificate of incorporation or an express provision in its certificate of incorporation or bylaws resulting from a shareholders’ amendment approved by at least a majority of the outstanding voting shares.

  We have opted out of Section 203; however, our certificate of incorporation contains similar provisions providing that we may not engage in certain “business combinations” with any “interested shareholder” for a three-year period following the time that the shareholder became an interested shareholder, unless:

  •prior to such time, our Board approved either the business combination or the transaction which resulted in the shareholder becoming an interested shareholder;

  •upon consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of our voting stock outstanding at the time the transaction commenced, excluding certain shares; or

  •at or subsequent to that time, the business combination is approved by our Board and by the affirmative vote of holders of at least 66 2/3% of our outstanding voting stock that is not owned by the interested shareholder.

  Under certain circumstances, this provision makes it more difficult for a person who would be an “interested shareholder” 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 our Board because the shareholder approval requirement would be avoided if our Board approves either the business combination or the transaction which results in the shareholder becoming an interested shareholder. These provisions also may have the effect of preventing changes in our Board and may make it more difficult to accomplish transactions which shareholders may otherwise deem to be in their best interests.

  Our certificate of incorporation provides that the Lead Sponsors, and any of their direct or indirect transferees and any group as to which such persons are a party, do not constitute “interested shareholders” for purposes of this provision.

  Dissenters’ Rights of Appraisal and Payment

  Under the DGCL, with certain exceptions, our shareholders have appraisal rights in connection with a merger or consolidation of us. Pursuant to the DGCL, shareholders who properly request and perfect appraisal rights in connection with such merger or consolidation will have the right to receive payment of the fair value of their shares as determined by the Delaware Court of Chancery.

  Shareholders’ Derivative Actions

  Under the DGCL, any of our shareholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the shareholder bringing the action is a holder of our shares at the time of the transaction to which the action relates or such shareholder’s stock thereafter devolved by operation of law.

  

  Exclusive Forum

  Our certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the United States District Court for the District of Delaware) will be the sole and exclusive forum for (1) any derivative action or proceeding brought on our behalf, (2) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our shareholders, (3) any action asserting a claim against the Company or any director or officer of the Company arising pursuant to any provision of the DGCL, our certificate of incorporation or our bylaws or (4) any other action asserting a claim against the Company or any director or officer of the Company that is governed by the internal affairs doctrine; provided that for the avoidance of doubt, the forum selection provision that identifies the Court of Chancery of the State of Delaware as the exclusive forum for certain litigation, including any “derivative action”, will not apply to suits to enforce a duty or liability created by the Securities Act, the Exchange Act or any other claim for which there is exclusive federal or concurrent federal and state jurisdiction. Additionally, unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States of America shall be the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. Although we believe these exclusive forum provisions benefit us by providing increased consistency in the application of Delaware law and federal securities laws in the types of lawsuits to which each applies, the exclusive forum provisions may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers or stockholders, which may discourage lawsuits with respect to such claims. Our stockholders are not deemed to have waived our compliance with the federal securities laws and the rules and regulations thereunder as a result of our exclusive forum provisions. Further, in the event a court finds any such exclusive forum provision contained in our certificate of incorporation to be unenforceable or inapplicable in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our business, operating results and financial condition. Any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice of and to have consented to the provisions of our certificate of incorporation described above. Although we believe these provisions benefit us by providing increased consistency in the application of Delaware law for the specified types of actions and proceedings, the provisions may have the effect of discouraging lawsuits against us or our directors and officers.

  Conflicts of Interest

  Delaware law permits corporations to adopt provisions renouncing any interest or expectancy in certain opportunities that are presented to the corporation or its officers, directors or shareholders. Our certificate of incorporation, to the maximum extent permitted from time to time by Delaware law, renounces any interest or expectancy that we have in, or right to be offered an opportunity to participate in, specified business opportunities that are from time to time presented to certain of our officers, directors or shareholders or their respective affiliates, other than those officers, directors, shareholders or affiliates who are our or our subsidiaries’ employees. Our certificate of incorporation provides that, to the fullest extent permitted by law, none of Lead Sponsors or any director who is not employed by us (including any non-employee director who serves as one of our officers in both his director and officer capacities) or his or her affiliates will have any duty to refrain from (1) engaging in a corporate opportunity in the same or similar lines of business in which we or our affiliates now engage or propose to engage or (2) otherwise competing with us or our affiliates. In addition, to the fullest extent permitted by law, in the event that Lead Sponsors or any non-employee director acquires knowledge of a potential transaction or other business opportunity which may be a corporate opportunity for itself or himself or its or his affiliates or for us or our affiliates, such person will have no duty to communicate or offer such transaction or business opportunity to us or any of our affiliates and they may take any such opportunity for themselves or offer it to another person or entity. Our certificate of incorporation does not renounce our interest in any business opportunity that is expressly offered to a non-employee director solely in his or her capacity as a director or officer of the Company. To the fullest extent permitted by law, no business opportunity will be deemed to be a potential corporate opportunity for us unless we would be permitted to undertake the opportunity under our certificate of incorporation, we have sufficient financial resources to undertake the opportunity, and the opportunity would be in line with our business.

  Limitations on Liability and Indemnification of Officers and Directors

  The DGCL authorizes corporations to limit or eliminate the personal liability of directors to corporations and their shareholders for monetary damages for breaches of directors’ fiduciary duties, subject to certain exceptions. 

  

  Our certificate of incorporation includes a provision that eliminates the personal liability of directors for monetary damages for any breach of fiduciary duty as a director, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to eliminate the rights of us and our shareholders, through shareholders’ derivative suits on our behalf, to recover monetary damages from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However, exculpation will not apply to any director if the director has acted in bad faith, knowingly or intentionally violated the law, authorized illegal dividends or redemptions or derived an improper benefit from his or her actions as a director.

  Our bylaws provide that we must indemnify and advance expenses to our directors and officers to the fullest extent authorized by the DGCL. We also are expressly authorized to carry directors’ and officers’ liability insurance providing indemnification for our directors, officers and certain employees for some liabilities. We believe that these indemnification and advancement provisions and insurance are useful to attract and retain qualified directors and officers.

  The limitation of liability, indemnification and advancement provisions that are included in our certificate of incorporation and bylaws may discourage shareholders from bringing a lawsuit against directors for breaches of their fiduciary duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even though such an action, if successful, might otherwise benefit us and our shareholders. In addition, your investment may be adversely affected to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

  There is currently no pending material litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought.

  Transfer Agent and Registrar

  The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. The transfer agent’s address is 6201 15th Avenue, Brooklyn, New York, 11219 and its phone number is (718) 921-8200.

  Listing

  Our common stock is listed on Nasdaq under the symbol “ALHC”.

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