Document:

Exhibit 4.8

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURUSANT TO SECTION 12 OF THE SECURITIES

EXCHANGE ACT OF 1934, AS AMENDED

 

As of December 31, 2021, Muscle
Maker, Inc. (“we,” “our,” “us” or the “Company”) had one class of securities registered
under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): its common stock with a par value
of $0.0001 per share (“Common Stock”).

 

General

 

Our authorized capital stock consists
of 50,000,000 shares of Common Stock, par value of $0.0001. The following descriptions of our capital stock and certain provisions of
our certificate of incorporation and bylaws are summaries and are qualified by reference to the fourth amended and restated certificate
of incorporation and amended and restated bylaws

 

Common Stock

 

Voting Rights

 

Each outstanding share of common
stock is entitled to one vote on all matters submitted to a vote of stockholders. Holders of shares of our common stock shall have no
cumulative voting rights. Except in respect of matters relating to the election and removal of directors on our board of directors and
as otherwise provided in our articles of incorporation or required by law, all matters to be voted on by our stockholders must be approved
by a majority of the shares present in person or by proxy at the meeting and entitled to vote on the subject matter. In the case of election
of directors, all matters to be voted on by our stockholders must be approved by a plurality of the voting power of the shares present
in person or by proxy at the meeting and entitled to vote thereon.

 

Liquidation

 

In the event of the liquidation,
dissolution or winding up of our Company, holders of our common stock are entitled to share ratably in the net assets legally available
for distribution to stockholders after the payment of all of our debts and other liabilities.

 

Rights and Preferences

 

Holders of our common stock have
no preemptive, conversion, subscription or other rights, and there are no redemption or sinking fund provisions applicable to our common
stock.

 

Anti-Takeover Effects of Our Articles of Incorporation
and Bylaws

 

Our articles of incorporation
and bylaws contain certain provisions that could have the effect of delaying, deferring or discouraging another party from acquiring control
of us. These provisions, which are summarized below, could discourage takeovers, coercive or otherwise. These provisions are also designed,
in part, to encourage persons seeking to acquire control of us to negotiate first with our board of directors. We believe that the benefits
of increased protection of our potential ability to negotiate with an unfriendly or unsolicited acquirer outweigh the disadvantages of
discouraging a proposal to acquire us.

 

    	 

     

     

Authorized but Unissued Capital Stock

 

We have authorized but unissued
shares of common stock. These shares could be used by our board of directors to make it more difficult or to discourage an attempt to
obtain control of us through a merger, tender offer, proxy contest or otherwise.

 

Limits on Stockholder Action to Call a Special
Meeting

 

Our bylaws will provide that
special meetings of the stockholders may be called only by the affirmative vote of a majority of the whole board, chairperson of the board,
the chief executive officer or our board of directors. A stockholder may not call a special meeting, which may delay the ability of our
stockholders to force consideration of a proposal or for holders controlling a majority of our capital stock to take any action, including
the removal of directors.

 

Requirements for Advance Notification of Stockholder
Nominations and Proposals

 

Our bylaws will establish advance
notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations
made by or at the direction of our board of directors or a committee of the board of directors. These may have the effect of precluding
the conduct of certain business at a meeting if the proper procedures are not followed and may also discourage or deter a potential acquirer
from conducting a solicitation of proxies to elect our own slate of directors or otherwise attempt to obtain control of our Company.

 

Limitation on Liability and Indemnification Matters

 

Our articles of incorporation
contains provisions that limit the liability of our directors for monetary damages to the fullest extent permitted by Nevada law. Consequently,
our directors will not be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duties as directors,
except liability for:

 

	 	●	any breach of the director’s duty of loyalty to us or our stockholders;
	 	●	any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law; and
	 	●	any transaction from which the director derived an improper personal benefit.

 

Our articles of incorporation
and bylaws provide that we are required to indemnify our directors and officers, in each case to the fullest extent permitted by Nevada
law. Our amended and restated bylaws also will provide that we are obligated to advance expenses incurred by a director or officer in
advance of the final disposition of any action or proceeding, and permit us to secure insurance on behalf of any officer, director, employee
or other agent for any liability arising out of his or her actions in that capacity regardless of whether we would otherwise be permitted
to indemnify him or her under the provisions of Nevada law. We have entered and expect to continue to enter into agreements to indemnify
our directors, executive officers and other employees as determined by our board of directors. With specified exceptions, these agreements
provide for indemnification for related expenses including, among other things, attorneys’ fees, judgments, fines and settlement
amounts incurred by any of these individuals in any action or proceeding. We believe that these bylaw provisions and indemnification agreements
are necessary to attract and retain qualified persons as directors and officers. We also maintain directors’ and officers’
liability insurance.

 

The limitation of liability and
indemnification provisions in our articles of incorporation and bylaws may discourage stockholders from bringing a lawsuit against our
directors and officers for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against our directors
and officers, even though an action, if successful, might benefit us and other stockholders. Further, a stockholder’s investment
may be adversely affected to the extent that we pay the costs of settlement and damage awards against directors and officers as required
by these indemnification provisions. Insofar as indemnification for liabilities arising under the Securities Act, may be permitted to
our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we have been advised that, in the
opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act, and
is, therefore, unenforceable. At present, there is no pending litigation or proceeding involving any of our directors, officers or employees
for which indemnification is sought, and we are not aware of any threatened litigation that may result in claims for indemnification.

 

Transfer Agent and Registrar

 

Computershare, Inc. is our transfer
agent and registrar. Its address is 462 South 4th Street, Suite 1600, Louisville, KY 40202, and its telephone number is 1-877-373-6374.

 

Nasdaq Capital Market Listing

 

Our common stock is listed on
The Nasdaq Capital Market under the symbol “GRIL.”Document

                                                           Exhibit 4.2
DESCRIPTION OF THE REGISTRANT'S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

As of December 31, 2021, Global Industrial Company (the “Company”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), being its common shares.
The following description of our common stock and our preferred stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Certificate of Incorporation, as amended (our “Certificate of Incorporation”) and our Second Amended and Restated By-Laws (our “By-Laws”), each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.2 is a part. We urge you to read our Certificate of Incorporation, our By-Laws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information. 
Authorized Capital Shares
Our authorized shares of stock consist of 150,000,000 shares of common stock, par value $0.01 per share (“Common Stock”), and 25,000,000 shares of preferred stock, $0.01 par value per share (“Preferred Stock”). As of December 31, 2021, 37,854,409 shares of Common Stock and no shares of Preferred Stock were issued and outstanding. The Company is a “controlled company” under the rules of the New York Stock Exchange in that more than 50% of the voting stock for the election of directors of the Company, in the aggregate, is owned by certain members of the Leeds family (including Messrs. Richard, Bruce and Robert Leeds, each of whom is an officer and director of the Company) and certain Leeds’ family trusts and other entities controlled by them.
Common Stock 
Dividends 
Subject to the rights of the holders of any Preferred Stock that may be outstanding and any contractual or statutory restrictions, holders of our Common Stock as of an applicable record date are entitled to receive such dividends as may be declared by the Board of Directors out of funds legally available therefor. Dividends upon our Common Stock may be paid in cash, in property, or in shares of capital stock of the Company. 
Voting Rights
Each stockholder is entitled to one vote for each share of capital stock held of record on the applicable record date on all matters presented to a vote of stockholders. 
Liquidation Rights
Upon liquidation, dissolution, distribution of assets or other winding up, the holders of our Common Stock are entitled to receive ratably the assets available for distribution to the stockholders after payment of liabilities and the liquidation preference of any of our outstanding shares of Preferred Stock.
Other Matters
Each outstanding share of Common Stock is fully paid and nonassessable. Our Common Stock is not entitled to preemptive rights and is not subject to conversion or redemption. There are no sinking fund provisions applicable to our Common Stock.
Exchange Listing
Our Common Stock is traded on the New York Stock Exchange under the trading symbol "GIC."

Transfer Agent 
The transfer agent and registrar for Global Industrial Company’s Common Stock is: Broadridge Corporate Issuer Solutions, Inc., P.O. Box 1342, Brentwood, NY 11717.

Preferred Stock
The Company’s Board of Directors has the authority to issue one or more classes or series of Preferred Stock and to fix the designations, powers, preferences and relative, participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof, if any, with respect to each such class or series of Preferred stock and the number of shares constituting each such class or series, and to increase or decrease the number of shares of any such class or series to the extent permitted by the DGCL.

Additional Matters
Please see Item 1A. Risk Factors – “Risks Related to Our Company and our Business -- Concentration of Ownership and Control Limits Stockholders Ability to Influence Corporate Actions.” in the Annual Report on Form 10-K of which this Exhibit 4.2 is a part or incorporated by reference as an exhibit.

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