Document:

giii_Exhibit_4.2

		

			 

		

		
			Exhibit 4.2
		

		
			 
		

		
			DESCRIPTION OF REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934
		

		
			 
		

		
			The following description of the capital stock of G-III Apparel Group, Ltd. (“us,” “our,” “we” or “our company”) is a summary of the rights of our capital stock and summarizes certain provisions of our certificate of incorporation, as amended through March 30, 2020 (our “Certificate of Incorporation”) and our bylaws as in effect as of that date (our “Bylaws”). This summary does not purport to be complete and is qualified in its entirety by the provisions of our Certificate of Incorporation and our Bylaws, copies of which have been filed as exhibits to this Annual Report on Form 10-K, as well as to the applicable provisions of the Delaware General Corporation Law.  Our common stock is the only class of securities of our company registered under Section 12 of the Securities Exchange Act of 1934, as amended.
		

		
			 
		

		
			Authorized Capital Stock 
		

		
			Our Certificate of Incorporation authorizes the issuance of 121,000,000 shares of all classes of stock, consisting of 120,000,000 shares of common stock, $.01 par value per share, and 1,000,000 shares of preferred stock, $.01 par value per share. The preferred stock may be issued in one or more series with such terms as the board of directors may determine. The outstanding shares of our common stock are duly authorized, validly issued, and fully paid. We do not have any shares of preferred stock outstanding. 
		

		
			Common Stock 
		

		
			Voting rights.  Holders of our common stock are entitled to one vote for each share held by them on all matters on which stockholders are entitled to vote, including the election of directors, and do not have cumulative voting rights. 
		

		
			Dividend rights.  Subject to any preferential rights of any then outstanding preferred stock, holders of our common stock are entitled to receive, as, when and if declared by our board of directors from time to time, such dividends and other distributions in cash, stock or property from our assets or funds legally available for such purposes. 
		

		
			Liquidation rights.  In the event of any distribution of capital assets or winding-up of our company, whether voluntary or involuntary, holders of our common stock are entitled to receive pro rata the assets remaining after creditors have been paid in full. 
		

		
			Other rights.  There are no preemptive, subscription or conversion rights applicable to our common stock. Our common stock has no sinking fund or redemption provisions.  Holders of our common stock may act by written consent as provided in our Bylaws.
		

		
			Preferred Stock 
		

		
			Our board of directors has the authority, without stockholder approval, to issue up to 1,000,000 shares of preferred stock in one or more series. Our board also has the authority to fix the designations, powers, preferences, privileges and relative, participating, optional or special rights and the qualifications, limitations or restrictions of any series of preferred stock issued, including dividend rights, conversion rights, voting rights, or other rights, any or all of which may be greater than the rights of the common stock. Preferred stock could be issued with terms that could delay or prevent a change in control of our company or make removal of management more difficult. In addition, the issuance of preferred stock may decrease the market price of the common stock and may adversely affect the voting and other rights of the holders of common stock. 
		

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

		
			Our Certificate of Incorporation and Bylaws contains provisions that could make it more difficult to acquire control of our company. A description of these provisions is set forth below. 
		

		
			

		 

		

			1

		

		

			 

		

		

		
			Authorized but Unissued Shares of Common Stock and Preferred Stock. The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, unless such approval is required by applicable law or the rules of any stock exchange on which our securities may be listed. 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. The existence of authorized but unissued shares of common stock and preferred stock could impede the completion of a merger, tender offer or other takeover attempt that some, or a majority, of the stockholders might believe to be in their best interests or in which stockholders might receive a premium for their stock over the then prevailing market price of the stock. 
		

		
			Special Stockholder Meetings. Our Bylaws provide that special meetings of the stockholders for any purpose or purposes, unless prescribed by statute or our Certificate of Incorporation, may be called by the president or secretary and shall be called by our chairman, president or secretary at the request in writing of a majority of the board of directors, or at the request in writing of stockholders owning a majority in amount of our entire capital stock issued and outstanding and entitled to vote. Any such request shall state the purpose or purposes of the proposed meeting. 
		

		
			Advanced Notice Procedure. Our Bylaws provide an advance notice procedure for stockholder meetings. 
		

		
			With respect to annual meetings of stockholders, our Bylaws require stockholders to deliver notice to us of their intention to make director nominations or bring other business before the meeting not later than the close of business on the 90th day, nor earlier than the close of business on the 120th day, in advance of the anniversary of the previous year’s annual meeting if the meeting is to be held on a day which is not more than 30 days in advance of the anniversary of the previous year’s annual meeting or not later than 70 days after the anniversary of the previous year’s annual meeting. With respect to any other annual meeting of stockholders, we must receive stockholder notices by the close of business on the tenth day following the date of public disclosure of the meeting date. In addition, our Bylaws prescribe information that the stockholder’s notice must contain, both as to itself and its proposed director nominee, if the stockholder wishes to nominate a candidate for the annual meeting director election, and prescribes information that the stockholder’s notice must contain if the stockholder wishes to bring business other than a director nomination before the annual meeting. 
		

		
			With respect to special meetings of stockholders, written notice of a special meeting stating the place (if any), date, hour and means of remote communication, if any, of the meeting and the purpose or purposes for which the meeting is called must be given not less than ten nor more than sixty days before the date of the meeting, to each stockholder entitled to vote at such meeting. The only business that may be brought before the meeting will be the business described in the notice of meeting delivered to the stockholders. In the event we call a special meeting of stockholders for the purpose of electing one or more directors to the board of directors, any stockholder entitled to vote in such election of directors may nominate a person or persons (as the case may be) for election to such position(s) as specified in our notice of meeting, if the stockholder provides us written notice no later than the close of business on the 90th day prior to such special meeting and not earlier than the close of business on the later of the 120th day prior to such special meeting or the tenth (10th) day following the date of public disclosure of the date of the special meeting and of the nominees proposed by the board of directors to be elected at such meeting. 
		

		
			These advance notice provisions 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 attempt to obtain control of us. 
		

		
			Anti-Takeover Provisions of Delaware Law 
		

		
			A number of provisions under Delaware law may make it more difficult to acquire control of us. These provisions could deprive the stockholders of opportunities to realize a premium on the shares of common stock owned by them. In addition, these provisions may adversely affect the prevailing market price of the common stock. These provisions are intended to: 
		

			
	
			
				 ·
			

			
	
			
			enhance the likelihood of continuity and stability in the composition of the board and in the policies formulated by the board;

		
			

		 

		

			2

		

		

			 

		

		

			
	
			
				 ·
			

			
	
			
			discourage certain types of transactions which may involve an actual or threatened change in control of our company;

			
	
			
				 ·
			

			
	
			
			discourage certain tactics that may be used in proxy fights; and

			
	
			
				 ·
			

			
	
			
			encourage persons seeking to acquire control of our company to consult first with the board of directors to negotiate the terms of any proposed business combination or offer.

		
			We are subject to the provisions of Section 203 of the Delaware General Corporation Law, an anti-takeover law. Subject to exceptions, the statute prohibits a Delaware corporation that has a class of voting stock listed on a national securities exchange or held of record by more than 2,000 stockholders from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder, unless: 
		

			
	
			
				 ·
			

			
	
			
			Prior to such date, 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 consummation of the transaction which 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 number of shares outstanding (but not the outstanding voting stock owned by the interested stockholder), those shares owned (1) by persons who are directors and also officers and (2) 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

			
	
			
				 ·
			

			
	
			
			On or after such date, the business combination is approved by the board of directors 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.

		
			For purposes of Section 203, a “business combination” includes a merger, asset sale or other transaction resulting, directly or indirectly (except proportionately as a stockholder of our company), in a financial benefit to the interested stockholder, with an “interested stockholder” being defined as a person who, together with affiliates and associates, owns, or within three years prior to the date of determination whether the person is an “interested stockholder,” did own, 15% or more of the corporation’s voting stock. 
		

		
			Limitation on Liability and Indemnification Matters 
		

		
			Our Certificate of Incorporation and Bylaws provide for the indemnification of our officers and directors to the fullest extent permitted under Delaware law. 
		

		
			Transfer Agent and Registrar 
		

		
			The transfer agent and registrar for our common stock is EQ Shareowner Services.  
		

		
			Nasdaq Stock Market Listing 
		

		
			Our common stock is traded on the Nasdaq Global Select Market under the trading symbol “GIII”. 
		

		 

		

			3Exhibit 10.4

 

THIS
PROMISSORY NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION
OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

PROMISSORY
NOTE

 

	Principal
    Amount: $1,000,000	Dated
    as of March 26, 2020

 

Greenrose
Acquisition Corp., a Delaware corporation and blank check company (the “Maker”), promises to pay to the order
of Greenrose Associates LLC, a New York limited liability company, or its registered assigns or successors in interest (the “Payee”),
or order, the principal sum of One Million and 00/100 Dollars ($1,000,000) in lawful money of the United States of America, on
the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately available
funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in
accordance with the provisions of this Note.

 

	1.	Principal. The
    principal balance of this Note shall be payable on the date on which Maker consummates an initial business combination. The
    principal balance may be prepaid at any time.

 

	2.	Interest.
    No interest shall accrue on the unpaid principal balance of this Note.

 

	3.	Application of
    Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due
    under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late
    charges and finally to the reduction of the unpaid principal balance of this Note.

 

	4.	Events
    of Default. The following shall constitute an event of default (“Event of Default”):

 

(a)
Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5)
business days of the date specified above.

 

(b)
Voluntary Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or
the making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts
become due, or the taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c)
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in
respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property,
or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect
for a period of 60 consecutive days.

 

	5.	Remedies.

 

(a)
Upon the occurrence of an Event of Default specified in Section 4(a) hereof, Payee may, by written notice to Maker, declare this
Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby
expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)
Upon the occurrence of an Event of Default specified in Sections 4(b) and 4(c), the unpaid principal balance of this Note, and
all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without
any action on the part of Payee.

 

    1

     

    

 

	6.	Waivers.
    Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of
    dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings
    instituted by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or
    future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property,
    from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension
    of time for payment; and Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue
    hereof, on any writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by
    Payee.

 

	7.	Unconditional
    Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement
    of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any
    other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification
    granted or consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that
    may be granted by Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
    guarantors, or sureties may become parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

	8.	Notices.
    All notices, statements or other documents which are required or contemplated by this Agreement shall be: (i) in writing
    and delivered personally or sent by first class registered or certified mail, overnight courier service or facsimile or electronic
    transmission to the address designated in writing, (ii) by facsimile to the number most recently provided to such party or
    such other address or fax number as may be designated in writing by such party and (iii) by electronic mail, to the electronic
    mail address most recently provided to such party or such other electronic mail address as may be designated in writing by
    such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if
    delivered personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission,
    one (1) business day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

	9.	Construction.
    THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS
    THEREOF.

 

	10.	Severability.
    Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
    be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
    and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
    in any other jurisdiction.

 

	11.	Trust
    Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or
    claim of any kind (“Claim”) in or to any distribution of or from the trust account established in which
    the proceeds of the initial public offering (the “IPO”) completed by the Maker (including the deferred
    underwriting discounts and commissions) and the proceeds of the sale of the units and warrants issued in a private placement
    that occurred prior to the effectiveness of the IPO have been deposited, as described in greater detail in the final prospectus
    (the “Prospectus”) filed by the Maker with the Securities and Exchange Commission in connection with the
    IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account
    for any reason whatsoever.

 

	12.	Amendment;
    Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of
    the Maker and the Payee.

 

	13.	Assignment.
    No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation
    of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the
    required consent shall be void.

 

	14.	Conversion
    into Maker’s Securities. Notwithstanding anything herein to the contrary, as further described in the Prospectus,
    Payee, at its sole discretion, may at any time convert any and all amounts due under this Notes into units (each, a “Unit”)
    and/or warrants (each, a “Warrant”) of the Maker’s equity securities. The Units will have a conversion
    price of $10.00 per Unit and consist of one share of the Maker’s common stock, par value $0.0001 (the “Common
    Stock”) and one Warrant to purchase one share of Common Stock at a price of $11.50 per share for a period of 5 years
    beginning 30 days after the Maker’s completion of a Business Combination (as defined in the Prospectus). The Warrants
    will have a conversion price of $1.00 per Warrant.

 

 

[SIGNATURE
PAGE FOLLOWS]

 

    2

     

    

 

IN
WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned
as of the day and year first above written.

 

 

	 	GREENROSE
    ACQUISITION CORP.
	 	a
        Delaware corporation

        

	 	 
	 	By: 	/s/
    William F. Harley III
	 	 	 	Name:	 	William
    F. Harley III
	 	 	 	Title:	 	Chief
    Executive Officer

 

 

 

    3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]