Document:

Exhibit 4.1 -- Description of Securities

Exhibit 4.1

 

 

DESCRIPTION OF THE REGISTRANT'S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

  

SecureTech Innovations, Inc., a Wyoming company ("SecureTech"), has only one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act" ): common stock, $0.001 par value ("Common Stock"). 

 

Authorized Capital Shares

 

Our Articles of Incorporation, as amended, authorizes us to issue up to 550,000,000 shares of capital stock, consisting of 500,000,000 shares of Common Stock and up to 50,000,000 shares of preferred stock, $0.001 par value. The outstanding shares of our Common Stock are fully paid and non-assessable

 

As of March 30, 2022, we had 111,636,300 shares of Common Stock issued and outstanding and -0- shares of preferred stock issued and outstanding.

 

Description of 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 our Amended Articles of Incorporation ("Articles of Incorporation") and our Bylaws ("Bylaws"), each of which are incorporated by reference as an exhibit to our Annual Report on Form 10-K of which this Exhibit 4.1 is a part. We encourage you to read our Articles of Incorporation, our Bylaws, and the applicable provisions of Wyoming law for additional information.

 

Voting Rights

 

Holders of Common Stock are entitled to one vote per share on all matters voted on by the stockholders, including the election of directors. Our Common Stock does not have cumulative voting rights.

 

Dividend Rights

 

Subject to the rights of holders of outstanding shares of Preferred Stock, if any, the holders of Common Stock are entitled to receive dividends, if any, as may be declared from time to time by the Board of Directors in its discretion out of funds legally available for the payment of dividends.

 

Liquidation Rights

 

Subject to any preferential rights of outstanding shares of Preferred Stock, holders of Common Stock will share ratably in all assets legally available for distribution to our stockholders in the event of dissolution.

 

Other Rights and Preferences

 

Our Common Stock has no sinking fund or redemption provisions or preemptive, conversion, or exchange rights. Holders of Common Stock may act by unanimous written consent.

 

Transfer Agent and Registrar

 

The transfer agent and registrar for our common stock is Globex Transfer, LLC.

 

Listing

 

Our Common Stock is quoted on the OTC Pink Tier of the OTC Markets Group, Inc. under the symbol "SCTH." As of March 30, 2022, there has been no trading in our shares of Common Stock.

 

 

Anti-Takeover Effects of Provisions of our Articles of Incorporation, Bylaws, and Wyoming Law

 

The following is a brief description of the provisions in our Articles of Incorporation and Bylaws that could have an effect of delaying, deferring, or preventing a change in control of SecureTech.

 

Authorized Shares

 

Our Articles of Incorporation authorizes the issuance of up to 500 million shares of common stock and up to 50 million shares of blank check preferred stock with such rights and preferences as may be determined from time to time by our Board of Directors. Our Board of Directors may, without requiring shareholder approval, issue shares of preferred stock with dividends, liquidation, conversion, voting, or other rights that could supersede and/or adversely affect the voting power and/or other rights of the holders of our common stock. The ability of our Board of Directors to issue shares of common stock and/or preferred stock could make it more difficult or discourage an attempt to obtain control of SecureTech through a proxy contest, tender offer, merger, or otherwise.

 

No Cumulative Voting

 

Holders of our common shares do not have cumulative voting rights in the election of Directors. The absence of cumulative voting may make it more difficult for shareholders owning less than a majority of our common shares to elect any Directors to our Board.

 

Number of Directors; Vacancies; Removal

 

Our Bylaws provide that our Board of Directors may increase or decrease the number of directors at any Board meeting. Any vacancy on the Board of Directors may be filled by the affirmative vote of a majority of the remaining directors. A director elected to fill a vacancy shall be elected for the unexpired term of his predecessor in office and shall hold such office until his successor is duly elected and qualified. Any directorship to be filled by reason of an increase in the number of directors shall be filled by the affirmative vote of a majority of the directors then in office, or by an election at an annual shareholders meeting, or at a special meeting of stockholders called for that purpose. A director chosen to fill a position resulting from an increase in the number of directors shall hold office only until the next election of directors by the stockholder.

 

Our Bylaws provide that any director or directors of the corporation may be removed from office at any time, with or without cause, by the vote or written consent of stockholders representing not less than a majority of the issued and outstanding capital stock entitled to voting power.

 

Control Share Acquisitions

 

We may be, or we may become subject to Wyoming's control share law in the future. The law focuses on the acquisition of a "controlling interest," which means the ownership of outstanding voting shares sufficient, but for the control share law, to enable the acquiring person to exercise the following proportions of the voting power of the corporation in the election of directors: (i) one-fifth or more but less than one-third, (ii) one-third or more but less than a majority, or (iii) a majority or more. The ability to exercise such voting power may be direct or indirect and individual or in association with others. The effect of the control share law is that the acquiring person, and those acting in association with it, obtains only such voting rights in the control shares as are conferred by a resolution of the corporation's stockholders, approved at a special or annual meeting of stockholders. The control share law contemplates that voting rights will be considered only once by the other stockholders. Thus, there is no authority to strip voting rights from the control shares of an acquiring person once those rights have been approved. If the stockholders do not grant voting rights to the control shares acquired by an acquiring person, those shares do not become permanent non-voting shares. The acquiring person is free to sell their shares to others. If the buyers of those shares themselves do not acquire a controlling interest, their shares do not become governed by the control share law. If control shares are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of the voting power, any stockholder of record, other than an acquiring person, who has not voted in favor of approval of voting rights is entitled to demand fair value for such stockholder's shares.

1

 

Business Combinations

 

Wyoming's control share law may have the effect of discouraging takeovers of the corporation. In addition to the control share law, Wyoming has a business combination law which prohibits certain business combinations between Wyoming corporations and "interested stockholders" for three years after the "interested stockholder" first becomes an "interested stockholder," unless the corporation's Board of Directors approves the combination in advance. For purposes of Wyoming law, an "interested stockholder" is any person who is (i) the beneficial owner, directly or indirectly, of ten percent or more of the voting power of the outstanding voting shares of the corporation, or (ii) an affiliate or associate of the corporation and at any time within the three previous years was the beneficial owner, directly or indirectly, of ten percent or more of the voting power of the then outstanding shares of the corporation. The definition of the term "business combination" is sufficiently broad to cover virtually any kind of transaction that would allow a potential acquirer to use the corporation's assets to finance the acquisition or otherwise to benefit their own interests rather than the interests of the corporation and its other stockholders. The effect of Wyoming's business combination law is to potentially discourage parties interested in taking control of the Company from doing so if it cannot obtain the approval of our Board of Directors.

2Exhibit 10.1

 

FORM

 

Whole
Earth Brands, Inc.

 

Performance-Based

Restricted
Stock Unit Notice

under the

Whole Earth Brands, Inc.

2020 Long-Term Incentive Plan

 

	Name of Grantee:	/$ParticipantName$/	 

 

This Notice evidences the award of performance-based
restricted stock units (each, an “PSU,” and collectively, the “PSUs”) of Whole Earth
Brands, Inc., a Delaware corporation (the “Company”), that have been granted to you pursuant to the Whole Earth
Brands, Inc. 2020 Long-Term Incentive Plan (the “Plan”) and conditioned upon your agreement to the terms of
the attached Restricted Stock Units Agreement (the “Agreement”). This Notice constitutes part of and is subject
to the terms and provisions of the Agreement and the Plan, which are incorporated by reference herein. Each PSU is equivalent in value
to one share of the Company’s Common Stock and represents the Company’s commitment to issue one share of the Company’s
Common Stock at a future date, subject to the terms of the Agreement and the Plan. The PSUs are credited to a separate account maintained
for you on the books and records of the Company (the "Account"). All amounts credited to the Account will continue
for all purposes to be part of the general assets of the Company.

 

	Grant Date:	/$GrantDate$/
	 	 
	Performance Period:	January 1, _____ – December 31,  _____ 
	 	 
	Expiration Date:	/$ExpirationDate$/
	 	 
	Target Number of Performance-Based
    PSUs:	/$AwardsGranted$/ (“Target Number”)
	 	 
	Maximum Number of Performance-Based
    PSUs	2 times target number, subject to adjustment as provided by the Agreement

 

Vesting Schedule: All of the PSUs are nonvested
and forfeitable as of the Grant Date. So long as your Service (as defined in the Agreement) is continuous from the Grant Date through
the Vesting Date (as defined below), the PSUs shall vest as set forth below:

 

At a meeting of
the Compensation Committee of the Board of Directors (the “Committee”) occurring after the Committee has received
the Company’s audited financial statements for the fiscal year ending on December 31, ____ (the actual date of the meeting is referred
to herein as the “Vesting Date”), the Committee shall determine the level of achievement of the performance
metrics and the resulting number of PSUs that have been earned and which shall become vested PSUs.

 

Notwithstanding
the foregoing, if you are terminated by the Company without Cause, and more than twelve (12) months have passed since the grant date,
upon vesting you are eligible to receive a portion of your PSU’s, prorated to your termination date. For clarity, if you are terminated
without cause less than 12 months from the grant date all PSUs will be forfeited.

 

     

     

    

 

	 	 	/$GrantDate$/

	Whole Earth Brands, Inc.	 	Date
	 	 	 

 

I acknowledge that I have carefully read the Agreement.
I agree to be bound by all of the provisions set forth in the Agreement. I also consent to electronic delivery of all notices or other
information with respect to the PSUs or the Company.

 

	Signature of Grantee	 	Date

 

     

     

    

 

Whole
Earth Brands, Inc.

 

Performance-Based

Restricted
Stock Unit Notice

under the

Whole Earth Brands, Inc.

2020 Long-Term Incentive Plan

 

1.      Terminology.
Unless otherwise provided in this Agreement, capitalized terms used herein are defined in the Glossary at the end of this Agreement.

 

2.      Vesting.
All of the PSUs are nonvested and forfeitable as of the Grant Date. So long as your Service is continuous from the Grant Date through
the applicable date upon which vesting is scheduled to occur, the PSUs will become vested and nonforfeitable in accordance with the vesting
schedule set forth in the Notice. Except for the circumstances, if any, described in the Notice, none of the PSUs will become vested and
nonforfeitable after your Service ceases.

 

3.      Termination
of Service. Unless otherwise provided in the Notice, if your Service with the Company ceases for any reason, all PSUs that are not
then vested and nonforfeitable will be forfeited to the Company immediately and automatically upon such cessation without payment of any
consideration therefor and you will have no further right, title or interest in or to such PSUs or the underlying shares of Common Stock.

 

4.      Restrictions
on Transfer. Except to the extent permitted under Section 9(b) of the Plan, neither this Agreement nor any of the PSUs may be assigned,
transferred, pledged, hypothecated or disposed of in any way, whether by operation of law or otherwise, and the PSUs shall not be subject
to execution, attachment or similar process. All rights with respect to this Agreement and the PSUs shall be exercisable during your lifetime
only by you or your guardian or legal representative. Notwithstanding the foregoing, the PSUs may be transferred upon your death by last
will and testament or under the laws of descent and distribution.

 

5.      Settlement
of PSUs.

 

(a)    Manner
of Settlement. You are not required to make any monetary payment (other than applicable tax withholding, if required) as a condition
to settlement of the PSUs. The Company will issue to you, in settlement of your PSUs and subject to the provisions of Section 7 below,
the number of whole shares of Common Stock that equals the number of whole PSUs that become vested, and such vested PSUs will terminate
and cease to be outstanding upon such issuance of the shares. Upon issuance of such shares, the Company will determine the form of delivery
(e.g., a stock certificate or electronic entry evidencing such shares) and may deliver such shares on your behalf electronically to the
Company’s designated stock plan administrator or such other broker-dealer as the Company may choose at its sole discretion, within
reason.

 

(b)    Timing
of Settlement. Your PSUs will be settled by the Company, via the issuance of Common Stock as described herein, on the date that the
PSUs become vested and nonforfeitable. However, if a scheduled issuance date falls on a Saturday, Sunday or federal holiday, such issuance
date shall instead fall on the next following day that the principal executive offices of the Company are open for business. Notwithstanding
the foregoing, in the event that (i) you are subject to the Company’s policy permitting officers and directors to sell shares only
during certain “window” periods, in effect from time to time or you are otherwise prohibited from selling shares of the Company’s
Common Stock in the public market and any shares covered by your PSUs are scheduled to be issued on a day (the “Original Distribution
Date”) that does not occur during an open “window period” applicable to you, as determined by the Company in
accordance with such policy, or does not occur on a date when you are otherwise permitted to sell shares of the Company’s Common
Stock in the open market, and (ii) the Company elects not to satisfy its tax withholding obligations by withholding shares from your distribution,
then such shares shall not be issued and delivered on such Original Distribution Date and shall instead be issued and delivered on the
first business day of the next occurring open “window period” applicable to you pursuant to such policy (regardless of whether
you are still providing continuous services at such time) or the next business day when you are not prohibited from selling shares of
the Company’s Common Stock in the open market, but in no event later than the fifteenth day of the third calendar month of the calendar
year following the calendar year in which the Original Distribution Date occurs. In all cases, the issuance and delivery of shares under
this Agreement is intended to comply with Treasury Regulation 1.409A-1(b)(4) and shall be construed and administered in such a manner.

 

     

     

    

 

7.      Tax
Withholding. On or before the time you receive a distribution of the shares subject to your PSUs, or at any time thereafter as requested
by the Company, you hereby authorize any required withholding from the Common Stock issuable to you and/or otherwise agree to make adequate
provision in cash for any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or
any Affiliate which arise in connection with your PSUs (the “Withholding Taxes”). Additionally, the Company
may, in its sole discretion, satisfy all or any portion of the Withholding Taxes obligation relating to your PSUs by any of the following
means or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company; (ii) causing
you to tender a cash payment; (iii) permitting you to enter into a “same day sale” commitment with a broker-dealer that
is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”) whereby you irrevocably elect
to sell a portion of the shares to be delivered under the Agreement to satisfy the Withholding Taxes and whereby the FINRA Dealer irrevocably
commits to forward the proceeds necessary to satisfy the Withholding Taxes directly to the Company; or (iv) withholding shares of
Common Stock from the shares of Common Stock issued or otherwise issuable to you in connection with the PSUs with a Fair Market Value
(measured as of the date shares of Common Stock are issued to you pursuant to Section ) equal to the amount of such Withholding Taxes;
provided, however, that the number of such shares of Common Stock so withheld shall not exceed, by more than the Fair Market Value of
one share of Common Stock, the amount necessary to satisfy the Company’s required tax withholding obligations using the statutory
withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable
income. Unless the tax withholding obligations of the Company and/or any Affiliate are satisfied, the Company shall have no obligation
to deliver to you any Common Stock. In the event the Company’s obligation to withhold arises prior to the delivery to you of Common
Stock or it is determined after the delivery of Common Stock to you that the amount of the Company’s withholding obligation was
greater than the amount withheld by the Company, you agree to indemnify and hold the Company harmless from any failure by the Company
to withhold the proper amount.

 

8.      Adjustments
for Corporate Transactions and Other Events.

 

(a)    Stock
Dividend, Stock Split and Reverse Stock Split. Upon a stock dividend of, or stock split or reverse stock split affecting, the Common
Stock, the number of outstanding PSUs shall, without further action of the Administrator, be adjusted to reflect such event; provided,
however, that any fractional PSUs resulting from any such adjustment shall be eliminated. Adjustments under this paragraph will be made
by the Administrator, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and
conclusive.

 

(b)    Merger,
Consolidation and Other Events. If the Company shall be the surviving or resulting corporation in any merger or consolidation and
the Common Stock shall be converted into other securities, the PSUs shall pertain to and apply to the securities to which a holder of
the number of shares of Common Stock subject to the PSUs would have been entitled. If the stockholders of the Company receive by reason
of any distribution in total or partial liquidation or pursuant to any merger of the Company or acquisition of its assets, securities
of another entity or other property (including cash), then the rights of the Company under this Agreement shall inure to the benefit of
the Company’s successor, and this Agreement shall apply to the securities or other property (including cash) to which a holder of
the number of shares of Common Stock subject to the PSUs would have been entitled, in the same manner and to the same extent as the PSUs.

 

9.      Non-Guarantee
of Employment or Service Relationship. Nothing in the Plan or this Agreement will alter your at-will or other employment status or
other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company
and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period
of time, or as a limitation of the right of the Company to discharge you at any time with or without Cause or notice and whether or not
such discharge results in the forfeiture of any nonvested and forfeitable PSUs or any other adverse effect on your interests under the
Plan.

 

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10.    Rights
as Stockholder. You shall not have any of the rights of a stockholder with respect to any shares of Common Stock that may be issued
in settlement of the PSUs until such shares of Common Stock have been issued to you. No adjustment shall be made for dividends, distributions,
or other rights for which the record date is prior to the date such shares are issued.

 

11.    The
Company’s Rights. The existence of the PSUs shall not affect in any way the right or power of the Company or its stockholders
to make or authorize any or all adjustments, recapitalizations, reorganizations, or other changes in the Company's capital structure or
its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or other stocks with preference
ahead of or convertible into, or otherwise affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the
Company, or any sale or transfer of all or any part of the Company's assets or business, or any other corporate act or proceeding, whether
of a similar character or otherwise.

 

12.    Restrictions
on Issuance of Shares. The issuance of shares of Common Stock upon settlement of the PSUs shall be subject to and in compliance with
all applicable requirements of federal, state, or foreign law with respect to such securities. No shares of Common Stock may be issued
hereunder if the issuance of such shares would constitute a violation of any applicable federal, state, or foreign securities laws or
other law or regulations or the requirements of any stock exchange or market system upon which the Common Stock may then be listed. The
inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal
counsel to be necessary to the lawful issuance of any shares subject to the PSUs shall relieve the Company of any liability in respect
of the failure to issue such shares as to which such requisite authority shall not have been obtained. As a condition to the settlement
of the PSUs, the Company may require you to satisfy any qualifications that may be necessary or appropriate, to evidence compliance with
any applicable law or regulation, and to make any representation or warranty with respect thereto as may be requested by the Company.

 

13.    Notices.
All notices and other communications made or given pursuant to this Agreement shall be given in writing and shall be deemed effectively
given upon receipt or, in the case of notices delivered by the Company to you, five (5) days after deposit in the United States mail,
postage prepaid, addressed to you at the last address you provided to the Company, or in the case of notices delivered to the Company
by you, addressed to the Administrator, care of the Company for the attention of its Secretary at its principal executive office or, in
either case, if the receiving party consents in advance, transmitted and received via telecopy or via such other electronic transmission
mechanism as may be available to the parties. Notwithstanding the foregoing, the Company may, in its sole discretion, decide to deliver
any documents related to participation in the Plan and this award of PSUs by electronic means or to request your consent to participate
in the Plan or accept this award of PSUs by electronic means. You hereby consent to receive such documents by electronic delivery and,
if requested, to agree to participate in the Plan through an on-line or electronic system established and maintained by the Company or
another third party designated by the Company.

 

14.    Entire
Agreement. This Agreement, together with the relevant Notice and the Plan, contain the entire agreement between the parties with respect
to the PSUs granted hereunder. Any oral or written agreements, representations, warranties, written inducements, or other communications
made prior to the execution of this Agreement with respect to the PSUs granted hereunder shall be void and ineffective for all purposes.

 

15.    Amendment.
This Agreement may be amended from time to time by the Administrator in its discretion; provided, however, that this Agreement
may not be modified in a manner that would have a materially adverse effect on the PSUs as determined in the discretion of the Administrator,
except as provided in the Plan or in a written document signed by each of the parties hereto.

 

16.    Section
409A. This Agreement and the PSUs granted hereunder are intended to fit within the “short-term deferral” exemption from
Section 409A of the Code as set forth in Treasury Regulation Section 1.409A-1(b)(4). In administering this Agreement, the Company
shall interpret this Agreement in a manner consistent with such exemption. Notwithstanding the foregoing, if it is determined that the
PSUs fail to satisfy the requirements of the short-term deferral rule and are otherwise deferred compensation subject to Section 409A,
and if you are a “Specified Employee” (within the meaning set forth Section 409A(a)(2)(B)(i) of the Code) as of the date
of your separation from service (within the meaning of Treasury Regulation Section 1.409A-1(h)), then the issuance of any shares
that would otherwise be made upon the date of the separation from service or within the first six (6) months thereafter will not
be made on the originally scheduled date(s) and will instead be issued in a lump sum on the date that is six (6) months and one day
after the date of the separation from service, but if and only if such delay in the issuance of the shares is necessary to avoid the imposition
of additional taxation on you in respect of the shares under Section 409A of the Code. Each installment of shares that vests is intended
to constitute a “separate payment” for purposes of Section 409A of the Code and Treasury Regulation Section 1.409A-2(b)(2).
For purposes of Section 409A of the Code, the payment of dividend equivalents under Section 5 of this Agreement shall be construed as
earnings and the time and form of payment of such dividend equivalents shall be treated separately from the time and form of payment of
the underlying PSUs.

 

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17.    No
Obligation to Minimize Taxes. The Company has no duty or obligation to minimize the tax consequences to you of this award of PSUs
and shall not be liable to you for any adverse tax consequences to you arising in connection with this award. You are hereby advised to
consult with your own personal tax, financial and/or legal advisors regarding the tax consequences of this award and by signing the Notice,
you have agreed that you have done so or knowingly and voluntarily declined to do so.

 

18.    Conformity
with Plan. This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan. Inconsistencies
between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. In the event of any ambiguity in this
Agreement or any matters as to which this Agreement is silent, the Plan shall govern. A copy of the Plan is available upon request to
the Administrator.

 

19.    No
Funding. This Agreement constitutes an unfunded and unsecured promise by the Company to issue shares of Common Stock in the future
in accordance with its terms. You have the status of a general unsecured creditor of the Company as a result of receiving the grant of
PSUs.

 

20.    Effect
on Other Employee Benefit Plans. The value of the PSUs subject to this Agreement shall not be included as compensation, earnings,
salaries, or other similar terms used when calculating your benefits under any employee benefit plan sponsored by the Company or any Affiliate,
except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the
Company’s or any Affiliate’s employee benefit plans.

 

21.    Governing
Law. The validity, construction and effect of this Agreement, and of any determinations or decisions made by the Administrator relating
to this Agreement, and the rights of any and all persons having or claiming to have any interest under this Agreement, shall be determined
exclusively in accordance with the laws of the State of Delaware, without regard to its provisions concerning the applicability of laws
of other jurisdictions.

 

22.    Resolution
of Disputes. Any dispute or disagreement which shall arise under, or as a result of, or pursuant to or relating to, this Agreement
shall be determined by the Administrator in good faith in its absolute and uncontrolled discretion, and any such determination or any
other determination by the Administrator under or pursuant to this Agreement and any interpretation by the Administrator of the terms
of this Agreement, will be final, binding and conclusive on all persons affected thereby. You agree that before you may bring any legal
action arising under, as a result of, pursuant to or relating to, this Agreement you will first exhaust your administrative remedies before
the Administrator. You further agree that in the event that the Administrator does not resolve any dispute or disagreement arising under,
as a result of, pursuant to or relating to, this Agreement to your satisfaction, no legal action may be commenced or maintained relating
to this Agreement more than twenty-four (24) months after the Administrator’s decision.

 

23.    Headings.
The headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement.

 

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24.    Electronic
Delivery of Documents. By your signing the Notice, you (i) consent to the electronic delivery of this Agreement, all information with
respect to the Plan and the PSUs, and any reports of the Company provided generally to the Company’s stockholders; (ii) acknowledge
that you may receive from the Company a paper copy of any documents delivered electronically at no cost to you by contacting the Company
by telephone or in writing; (iii) further acknowledge that you may revoke your consent to the electronic delivery of documents at any
time by notifying the Company of such revoked consent by telephone, postal service or electronic mail; and (iv) further acknowledge that
you understand that you are not required to consent to electronic delivery of documents.

 

25.    No
Future Entitlement. By your signing the Notice, you acknowledge and agree that: (i) the grant of a restricted stock unit award
is a one-time benefit which does not create any contractual or other right to receive future grants of restricted stock units, or compensation
in lieu of restricted stock units, even if restricted stock units have been granted repeatedly in the past; (ii) all determinations
with respect to any such future grants and the terms thereof will be at the sole discretion of the Committee; (iii) the value of
the restricted stock units is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (iv) the
value of the restricted stock units is not part of normal or expected compensation or salary for any purpose, including, but not limited
to, calculating any termination, severance, resignation, redundancy, end of service payments or similar payments, or bonuses, long-service
awards, pension or retirement benefits; (v) the vesting of the restricted stock units ceases upon termination of Service with the
Company or transfer of employment from the Company, or other cessation of eligibility for any reason, except as may otherwise be explicitly
provided in this Agreement; (vi) the Company does not guarantee any future value of the restricted stock units; and (vii) no
claim or entitlement to compensation or damages arises if the restricted stock units decrease or do not increase in value and you irrevocably
release the Company from any such claim that does arise.

 

26.    Personal
Data. For purposes of the implementation, administration and management of the restricted stock units or the effectuation of any acquisition,
equity or debt financing, joint venture, merger, reorganization, consolidation, recapitalization, business combination, liquidation, dissolution,
share exchange, sale of stock, sale of material assets or other similar corporate transaction involving the Company (a “Corporate
Transaction”), you consent, by execution of the Notice, to the collection, receipt, use, retention and transfer, in electronic
or other form, of your personal data by and among the Company and its third party vendors or any potential party to a potential Corporate
Transaction. You understand that personal data (including but not limited to, name, home address, telephone number, employee number, employment
status, social security number, tax identification number, date of birth, nationality, job and payroll location, data for tax withholding
purposes and shares awarded, cancelled, vested and unvested) may be transferred to third parties assisting in the implementation, administration
and management of the restricted stock units or the effectuation of a Corporate Transaction and you expressly authorize such transfer
as well as the retention, use, and the subsequent transfer of the data by the recipient(s). You understand that these recipients may be
located in your country or elsewhere, and that the recipient’s country may have different data privacy laws and protections than
your country. You understand that data will be held only as long as is necessary to implement, administer and manage the restricted stock
units or effect a Corporate Transaction. You understand that you may, at any time, request a list with the names and addresses of any
potential recipients of the personal data, view data, request additional information about the storage and processing of data, require
any necessary amendments to data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Company’s
Secretary. You understand, however, that refusing or withdrawing your consent may affect your ability to accept a restricted stock unit
award.

 

{Glossary begins on next page}

 

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GLOSSARY

 

(a)     “Administrator”
means the Board of Directors of Whole Earth Brands, Inc. or such committee or committees or officer or officers appointed by the Board
to administer the Plan.

 

(b)     “Affiliate”
means any entity, whether now or hereafter existing, which controls, is controlled by, or is under common control with Whole Earth Brands,
Inc. For this purpose, “control” means ownership of more than 50% of the total combined voting power or value of all classes
of stock or interests of the entity.

 

(c)     “Agreement”
means this document, as amended from time to time, together with the Notice and the Plan which are incorporated herein by reference.

 

(d)     “Cause”
has the meaning ascribed to such term or words of similar import in your written employment or service contract with the Company as in
effect at the time at issue and, in the absence of such agreement or definition, means your (i) conviction of, or plea of nolo
contendere to, a felony or crime involving moral turpitude; (ii) fraud on or misappropriation of any funds or property of the
Company, any affiliate, customer or vendor; (iii) personal dishonesty, incompetence, willful misconduct, willful violation of any
law, rule or regulation (other than minor traffic violations or similar offenses) or breach of fiduciary duty which involves personal
profit; (iv) willful misconduct in connection with your duties or willful failure to perform your responsibilities in the best interests
of the Company; (v) illegal use or distribution of drugs; (vi) violation of any Company rule, regulation, procedure or policy;
or (vii) breach of any provision of any employment, non-disclosure, non-competition, non-solicitation or other similar agreement
executed by you for the benefit of the Company, all as determined by the Administrator, which determination will be conclusive.

 

(e)     “Change
in Control” has the meaning set forth in the Plan. 

 

(f)      “Code”
means the Internal Revenue Code of 1986, as amended, and the Treasury regulations and other guidance promulgated thereunder.

 

(g)     “Common
Stock” means the common stock, US$.01 par value per share, of Whole Earth Brands, Inc.

 

(h)     “Company”
includes Whole Earth Brands, Inc. and its Affiliates, except where the context otherwise requires. For purposes of determining whether
a Change in Control has occurred, Company shall mean only Whole Earth Brands, Inc.

 

(i)      “Fair
Market Value” has the meaning set forth in the Plan.

 

(j)      “Grant
Date” means the effective date of a grant of PSUs made to you as set forth in the relevant Notice.

 

(k)     “Notice”
means the statement, letter or other written notification provided to you by the Company setting forth the terms of a grant of PSUs made
to you.

 

(l)      “Plan”
means the Whole Earth Brands 2020 Long-Term Incentive Plan, as amended from time to time.

 

(m)    “PSU”
means the Company’s commitment to issue one share of Common Stock at a future date, subject to the terms of the Agreement and the
Plan.

 

(n)     “Service”
means your employment, service as a non-executive director, or other service relationship with the Company and its Affiliates. Your Service
will be considered to have ceased with the Company and its Affiliates if, immediately after a sale, merger, or other corporate transaction,
the trade, business, or entity with which you are employed or otherwise have a service relationship is not Whole Earth Brands, Inc., or
its successor or an Affiliate of Whole Earth Brands, Inc. or its successor.

 

(o)     “You”
or “Your” means the recipient of the PSUs as reflected on the applicable Notice. Whenever the word “you”
or “your” is used in any provision of this Agreement under circumstances where the provision should logically be construed,
as determined by the Administrator, to apply to the estate, personal representative, or beneficiary to whom the PSUs may be transferred
by will or by the laws of descent and distribution, the words “you” and “your” shall be deemed to include such
person.

 

{End of Agreement}

 

    6

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