Document:

Exhibit 4.1

 

CERTIFICATE OF AMENDMENT 

TO THE 

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION

OF 

ATOSSA GENETICS INC. 

 

Atossa Genetics Inc., a corporation organized
and existing under the laws of the State of Delaware (the “Corporation”), hereby certifies as follows:

  

	FIRST:	That the Board of Directors of the Corporation has duly adopted resolutions authorizing the Corporation to execute and file with the Secretary of State of the State of Delaware this Certificate of Amendment to the Amended and Restated Certificate of Incorporation, as amended (this “Amendment”) to combine each fifteen (15) outstanding shares of the Corporation’s Common Stock, par value $0.001 per share (the “Common Stock”), into one (1) validly issued, fully paid and non-assessable share of Common Stock.
	 	 
	SECOND:	That this Amendment was duly adopted in accordance with the terms of the Amended and Restated Certificate of Incorporation, as amended, and the provisions of the Delaware General Corporation Law by the Board of Directors and stockholders of the Corporation.
	 	 
	THIRD:	That upon the effectiveness of this Amendment, the Amended and Restated Certificate of Incorporation, as amended, is hereby amended such that ARTICLE IV is amended and restated in its entirety to read as set forth below, with no other changes to be made.
	 	 
	 	CAPITAL STOCK
	 	 
	 	The total number of shares of capital stock which the Corporation shall have authority to issue is Eighty Five Million (85,000,000), of which (i) Seventy Five Million (75,000,000) shares shall be a class designated as common stock, par value $0.015 per share (the “Common Stock”), and (ii) Ten Million (10,000,000) shares shall be a class designated as undesignated preferred stock, par value $0.001 per share (the “Undesignated Preferred Stock”). 
	 	 
	 	Except as otherwise provided in any certificate of designations of any series of Undesignated Preferred Stock, the number of authorized shares of the class of Common Stock or Undesignated Preferred Stock may from time to time be increased or decreased (but not below the number of shares of such class outstanding) by the affirmative vote of the holders of a majority in voting power of the outstanding shares of capital stock of the Corporation irrespective of the provisions of Section 242(b)(2) of the DGCL.
	 	 
	 	The powers, preferences and rights of, and the qualifications,
    limitations and restrictions upon, each class or series of stock shall be determined in accordance with, or as set forth
    below in, this Article IV. Upon the Effective Time, following the filing and effectiveness pursuant to the Delaware General Corporation Law of this Amendment, each fifteen (15) shares of Common Stock issued and outstanding immediately prior to the Effective Time shall, automatically and without any action on the part of the respective holders thereof, be combined and converted into one (1) share of Common Stock (the “Reverse Stock Split”).  No fractional shares shall be issued in connection with the Reverse Stock Split.  Stockholders who otherwise would be entitled to receive fractional shares of Common Stock shall be entitled to receive cash (without interest or deduction) from the Corporation’s transfer agent in lieu of such fractional share interests upon the submission of a transmission letter by a stockholder holding the shares in book-entry form and, where shares are held in certificated form, upon the surrender of the stockholder’s Old Certificates (as defined below), in an amount equal the stockholders pro-rata portion (depending on the fraction amount they own) of  the net proceeds (after customary brokerage commissions and other expenses) attributable to the sale into the market by Corporation’s transfer agent of all fractional shares. 
	 	
	 	Each certificate that immediately prior to the Effective Time represented shares of Common Stock (“Old Certificates”), shall thereafter represent that number of shares of Common Stock into which the shares of Common Stock represented by the Old Certificate shall have been combined, subject to the elimination of fractional share interests as described above.

 

     

     

    

 

	 	A. COMMON STOCK
	 	 
	 	Subject to all the rights, powers and preferences of the Undesignated Preferred Stock and except as provided by law or in this Certificate (or in any certificate of designations of any series of Undesignated Preferred Stock):
	 	 
	 	(a) the
holders of the Common Stock shall have the exclusive right to vote for the election of directors of the Corporation (the “Directors”)
and on all other matters requiring stockholder action, each outstanding share entitling the holder thereof to one vote on each
matter properly submitted to the stockholders of the Corporation for their vote; provided, however, that, except
as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Certificate
(or on any amendment to a certificate of designations of any series of Undesignated Preferred Stock) that alters or changes the
powers, preferences, rights or other terms of one or more outstanding series of Undesignated Preferred Stock if the holders of
such affected series of Undesignated Preferred Stock are entitled to vote, either separately or together with the holders of one
or more other such series, on such amendment pursuant to this Certificate (or pursuant to a certificate of designations of any
series of Undesignated Preferred Stock) or pursuant to the DGCL;

	 	 
	 	(b) dividends may be declared and paid or set apart for payment upon the Common Stock out of any assets or funds of the Corporation legally available for the payment of dividends, but only when and as declared by the Board of Directors or any authorized committee thereof; and
	 	 
	 	(c) upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the net assets of the Corporation shall be distributed pro rata to the holders of the Common Stock.
	 	 
	 	B. UNDESIGNATED PREFERRED STOCK
	 	 
	 	The Board of Directors or any authorized committee thereof is expressly authorized, to the fullest extent permitted by law, to provide by resolution or resolutions for, out of the unissued shares of Undesignated Preferred Stock, the issuance of the shares of Undesignated Preferred Stock in one or more series of such stock, and by filing a certificate of designations pursuant to applicable law of the State of Delaware, to establish or change from time to time the number of shares of each such series, and to fix the designations, powers, including voting powers, full or limited, or no voting powers, preferences and the relative, participating, optional or other special rights of the shares of each series and any qualifications, limitations and restrictions thereof.
	 	 
	FOURTH:	This Amendment shall be effective as of August 26, 2016, at 12:01 a.m., Eastern Time (the “Effective Time”).

 

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IN WITNESS WHEREOF, the Corporation has
caused this Certificate of Amendment to the Amended and Restated Certificate of Incorporation to be executed by Steven C. Quay,
its Chief Executive Officer, this 24th day of August, 2016.

 

	 	 	 
	ATOSSA GENETICS INC.
	 	 
	By:	 	
        /s/
        Steven C. Quay

        

	Name:	 	Steven C. Quay, M.D., Ph.D.
	Title:	 	Chairman, Chief Executive Officer and President

 

[Signature Page to Certificate
of Amendment]afco-ex101_6.htm

Exhibit 10.1

 

August 10, 2016

Roberto de Guardiola

Chairman, Compensation Committee

American Farmland Company

 

 

RE:Transaction Bonus.

 

Dear Mr. de Guardiola:

 

This letter agreement (this "Agreement") confirms the understanding by and between American Farmland Company (the "Company") and me.  

 

In recognition of my service to the Company and as consideration for my continued service and the execution of the Restrictive Covenant Agreement in Annex A, upon the occurrence of a Transaction (as described on Annex B), the Company shall pay, or cause to be paid, to me an amount equal to one million dollars ($1,000,000) payable within 5 days following the Transaction (the "Transaction Bonus").  I shall be responsible for all state, federal, local and other taxes payable with respect to such amount.   

 

If the Agreement reflects our understanding, please countersign and return it to me.

 

	
 
	
Yours sincerely,

	
 
	
 

	
 
	
/s/ D. Dixon Boardman

	
 
	
D. Dixon Boardman

	
 
	
Dated and Effective: August 23, 2016

	
AMERICAN FARMLAND COMPANY
	
 

	
/s/ Roberto de Guardiola 
	
 

	
Name: Roberto de Guardiola
	
 

	
Title: Chairman, Compensation Committee 
	
 

	
Date: August 23, 2016
	
 

 

 

ANNEX A

 

RESTRICTIVE COVENANTS AGREEMENT

 

As consideration for, and as a condition to receipt of, the Transaction Bonus that American Farmland Company (the "Company") is awarding to D. Dixon Boardman ("Director") pursuant to the letter attached hereto, Director hereby agrees to the terms and conditions of this Restrictive Covenants Agreement (this "Agreement") as follows:

 

1.Definitions.

(a)"Business of the Company" means the owning, investing in or financing of income-producing farmland real estate through use of a Real Estate Investment Trust.

(b)"Confidential Information" means non-public, proprietary, confidential or trade secret information of the Company including, but not limited to, certain or all of the methods, information, systems, plans for acquisition or disposition of property, expansion plans, financial status and plans, customer lists, client data, personnel information and trade secrets of the Company.

(c)"Person" means any natural person, corporation, general partnership, limited partnership, limited liability company or partnership, joint venture, proprietorship, other business organization, business trust, union, association or governmental or regulatory entities, department, agency or authority.

(d)"Restricted Area"  means any state in the United States.

(e)"Restricted Period" means the period during which Director is a director of the Company and for twenty-four (24) months following the Director's last day as a director of the Company. 

2.Restrictive Covenants.

(a)Representations.  Director acknowledges and agrees that the Business of the Company is competitive and Director's position with the Company has required, and will continue to require, Director to have access to, and knowledge of, Confidential Information, which is of vital importance to the success of the Business of the Company.

(b)Noncompetition.  Director acknowledges and agrees that, during the Restricted Period, Director will not, directly or indirectly, unless authorized by the Company, become employed by or serve on the board of directors of, any Person that engages or is preparing to engage in the Business of the Company within the Restricted Area.

(c)Reasonableness of Restrictions.  Director acknowledges and agrees that enforcement of the covenant in Section 2(b) is necessary to ensure the protection and continuity of the business and goodwill of the Company and that, due to the proprietary nature of 

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the Business of the Company, the restrictions set forth in Section 2(b) are reasonable as to geography, duration and scope.  

3.Liquidated Damages.  In the event of Director's breach of this Agreement, the Company shall be entitled to claw back the Transaction Bonus, as liquidated damages and not as a penalty, on a pro-rata basis pursuant to the following formula:  $41,667 x (24 – # of months from Director's last day as director). 

4.Injunctive Relief.  Director agrees that the Company would suffer irreparable harm if Director were to breach, or threaten to breach, Section 2(b) of this Agreement and that the Company would by reason of such breach, or threatened breach, be entitled to injunctive relief in a court of appropriate jurisdiction, without the need to post any bond, and Director further consents and stipulates to the entry of such injunctive relief in such a court prohibiting Director from breaching this Agreement.  This Section 4 shall not, however, diminish the right of the Company to claim and recover damages pursuant to Section 3.  

5.Severability; Blue Penciling.  In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.  Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law.  Furthermore, a determination in any jurisdiction that this Agreement, in whole or in part, is invalid, illegal or unenforceable shall not in any way affect or impair the validity, legality or enforceability of this Agreement in any other jurisdiction.

6.Captions.  The captions in this Agreement are inserted for convenience and reference only and shall in no way affect, define, limit or describe the scope, intent or construction of any provision hereof.

7.Waiver.  The failure of the Company to enforce any terms, provisions or covenants of this Agreement shall not be construed as a waiver of the same or of the right of the Company to enforce the same.  Waiver by the Company of any breach or default by Director of any term or provision of this Agreement shall not operate as a waiver of any other breach or default.

8.Successors and Assigns.  This Agreement shall inure to the benefit of and be binding upon the Company, any successor organization which shall succeed to the Company by acquisition, merger, consolidation or operation of law, or by acquisition of assets of the Company and any assigns.  Director may not assign Director's obligations under this Agreement.

9.No Oral Modification.  This Agreement may not be changed orally, but may be changed only in a writing signed by the Director and a duly authorized representative of the Company. 

10.Entire Agreement.  This Agreement sets forth the entire agreement between the Company and Director with respect to its subject matter, and merges and supersedes all prior discussions, negotiations, representations, proposals, agreements and understandings of 

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every kind and nature between the Company and Director with respect to its subject matter.  Director and the Company represent that, in executing this Agreement, the Director and the Company have not relied upon any representations or statements made, other than those set forth herein, with regard to the subject matter, basis or effect of this Agreement. 

11.Governing Law.  This Agreement shall be construed under and governed by the internal laws of the State of New York without regard to the application of any choice-of-law rules that would result in the application of another state’s laws.  In any action brought by the Company under or relating to this Agreement, the Director consents to exclusive jurisdiction and venue in the federal and state courts in the State of New York.  In any action brought by the Director under or relating to this Agreement, the Company consents to the exclusive jurisdiction and venue in the federal and state courts of the State of New York.  

IN WITNESS WHEREOF, the Company and Director have caused this Agreement to be executed as of the below-written dates.

 

	
Director
	
 
	
American Farmland Company

	
 
	
 
	
 
	
 

	
/s/ D. Dixon Boardman
	
 
	
By:
	
/s/ Roberto de Guardiola

	
Name:  D. Dixon Boardman
	
 
	
 
	
Roberto de Guardiola 

	
 
	
 
	
 
	
Chairman, Compensation Committee

	
 
	
 
	
 
	
 

	
Date:  August 23, 2016
	
 
	
 
	
Date:  August 10, 2016

 

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ANNEX B

 

"Transaction" means:  

 

(a) the acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a "Person") of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of  more than 50% of either (A) the then-outstanding shares of common stock of the Company or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors; or 

 

(b) consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries; or

 

(c) Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

 

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