Document:

Exhibit 10.1

 

4% CONVERTIBLE PROMISSORY NOTE

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR APPLICABLE STATE SECURITIES
LAWS, AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SECURITIES UNDER
THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY
THAT THERE IS AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

 

	$35,000.00	August 26, 2020

 

FOR VALUE RECEIVED,
GENUFOOD ENERGY ENZYMES CORP., a corporation organized under the laws of the state of Nevada (the “Issuer”),
promises to pay to the order of Jui Pin Lin (hereafter, together with any subsequent holder hereof, called the “Holder”),
at his office, at “Holder’s Address” (as that term is defined in the signature block below), or at such
other place as the Holder may direct, the principal sum of Thirty-Five Thousand Dollars ($35,000.00) (the “Loan Amount”),
and to pay simple interest on the principal sum then outstanding from the date first above written (the “Issuance Date”)
at the rate of four percent (4.0%) per annum. Subject to the provisions of this 4% Convertible Promissory Note (this “Note”),
the entire then-outstanding principal and all accrued, unpaid interest thereon, together with all other costs hereunder, if any,
shall be due and payable by the Issuer to the Holder on the six-month anniversary of the Issuance Date or at such earlier date
as is provided herein (the “Maturity Date”). All computations of interest under this Note shall be made on the
basis of a year of three hundred sixty-five (365) days and calculated for the actual number of days elapsed. Notwithstanding the
foregoing, the Holder shall have the right (but not the obligation) to extend the Maturity Date at any time or from time to time,
which extension, if any, shall be in writing and at the Holder’s sole and absolute discretion.

 

The Issuer agrees to
pay interest on the unpaid principal amount of the Loan Amount from time to time outstanding hereunder at the following rates:
(i) before the Maturity Date, whether by acceleration or otherwise, at the rate of four percent (4%) per annum; (ii) after the
Maturity Date, whether by acceleration or otherwise, until paid, at the rate of the lesser of (i) ten percent (10%) per annum or
(ii) the maximum rate allowed by usury or other similar laws.

 

Accrual of interest
shall commence as of the Issuance Date. Interest will accrue monthly and be paid upon the earlier to occur of (i) the Maturity
Date (pro-rated based on the actual number of days elapsed in a 365-day year) or (ii) the “Voluntary Conversion Date”
(as defined in Paragraph 4 below). Unless otherwise agreed in writing by both parties hereto, the interest payable hereunder will
be paid to the person in whose name this Note (or one or more predecessor Notes) is registered on the records of the Issuer (the
“Note Register”); provided, however, that the Issuer’s obligation to a transferee of this Note arises
only if such transfer, sale or other disposition is made in accordance with the terms and conditions contained in this Note, Federal
securities laws and applicable state securities laws.

 

Payment of both principal
and interest shall be made in immediately available funds in lawful money of the United States of America, or in securities of
the Issuer as set forth in Paragraph 4 below.

 

    1

     

    

 

This Note is subject
to the following additional provisions:

 

This
Note may be prepaid, in whole or in part, without penalty, before the Maturity Date.

 

1. The
Issuer shall be entitled to withhold from all payments of principal and/or interest of this Note any amounts required to be withheld
under the applicable provisions of the Internal Revenue Code of 1986, as amended, or other applicable laws at the time of such
payments.

 

2. This
Note has been issued subject to investment representations of the original Holder hereof and may be transferred or exchanged only
in compliance with the Securities Act of 1933, as amended (the “Securities Act”), and applicable state securities
laws. Prior to the due presentment for such transfer of this Note, the Issuer and any agent of the Issuer may treat the person
in whose name this Note is duly registered in the Note Register as the owner hereof for the purpose of receiving payment as herein
provided and all other purposes, whether or not this Note is overdue, and neither the Issuer nor any such agent shall be affected
by notice to the contrary. The transferee shall be bound, as the original Holder by the same representations and terms described
herein.

 

3. The
Holder may, at its option, at any time before the Maturity Date convert (a “Voluntary Conversion”) the entire,
but not less than the entire, then outstanding principal amount of this Note, together with all accrued and unpaid interest thereon
(the “Outstanding Obligation Amount”), but of no other outstanding promissory notes issued by the Issuer and
then held by the Holder, into such number of shares of fully paid and non-assessable Common Stock (“Common Stock”)
of the Issuer (“Conversion Shares”) as is obtained by dividing the Outstanding Obligation Amount by $0.05 (the
“Conversion Price”). The right to convert this Note may be exercised by the Issuer by fax, e-mail (with receipt
of delivery), mail (via first class mail, postage prepaid) or personal delivery of an executed and completed notice of conversion
(the “Notice of Voluntary Conversion”) to the Issuer. The business day (a “Business Day”)
on which a Notice of Voluntary Conversion is delivered in accordance with the provisions hereof shall be deemed the “Voluntary
Conversion Date”. Subject to Paragraph 5 of this Note, the Issuer will transmit the certificates representing Conversion
Shares issuable upon such conversion of the Note to the Holder via express courier, by electronic transfer (if applicable) or otherwise,
within ten Business Days after the later to occur of (i) the Voluntary Conversion Date or (ii) the Business Day on which the Issuer
has received from the Holder the original Note being so converted.

 

4. Notwithstanding
anything contained herein to the contrary, no conversion of this Note pursuant to Paragraph 4 shall occur unless:

 

a. the Holder (i) represents and warrants
to the Issuer that, as of the Voluntary Conversion Date, it is either (x) an “accredited investor” as that term is
defined in Section 501(a) of Regulation D promulgated under the Securities Act; or (y) not a “U.S. person” as that
term is defined in Rule 902(k) of Regulation S promulgated under the Securities Act, in either case providing such additional information
as the Issuer may reasonably request to confirm such status; and

 

b. prior to the time of such conversion,
the Issuer has a sufficient number of authorized but unissued shares of Common Stock available to issue upon such conversion.

 

5. The
number of Conversion Shares issuable under Paragraph 3 of this Note shall be adjusted as follows: (i) if the Issuer shall at any
time subdivide its outstanding shares of Common Stock into a greater number of shares, the number of Conversion Shares in effect
immediately prior to such subdivision shall be proportionately increased, and (ii) in case the outstanding shares of Common Stock
shall be combined into a smaller number of shares, the number of Conversion Shares in effect immediately prior to such subdivision
shall be proportionately decreased.

 

6. No
provision of this Note shall alter or impair the obligation of the Issuer, which is absolute and unconditional, upon an Event of
Default (as defined in Paragraph 8 below), to pay the principal of, and interest on, this Note at the place, time, and rate, and
in the coin or currency herein prescribed.

 

    2

     

    

 

7. Events
of Default. Each of the following occurrences is hereby defined as an “Event of Default”:

 

a. Nonpayment.
The Issuer shall fail to make any payment of principal, interest, or other amounts payable hereunder when and as due; or

 

b. Noncompliance
with this Agreement. The Issuer shall fail to comply in any material respect with any material provision hereof, which failure
does not otherwise constitute an Event of Default, and such failure shall continue for twenty (20) days after the occurrence of
such failure; or

 

c. Bankruptcy.
Any bankruptcy, insolvency, reorganization, arrangement, readjustment, liquidation, dissolution, or similar proceeding, domestic
or foreign, is instituted by or against the Issuer or any of its subsidiaries, or the Issuer or any of its subsidiaries shall take
any step toward, or to authorize, such a proceeding; or

 

d. Insolvency.
The Issuer shall make a general assignment for the benefit of its creditors, shall enter into any composition or similar agreement,
or shall suspend the transaction of all or a substantial portion of its usual business.

 

8. If
one or more “Events of Default” shall occur, then, or at any time thereafter, and in each and every such case, unless
such Event of Default shall have been waived in writing by the Holder (which waiver shall not be deemed to be a waiver of any subsequent
default) or cured as provided herein, at the option of the Holder, and in the Holder's sole and absolute discretion, the Holder
may elect to consider this Note (and all accrued and unpaid interest through such date) immediately due and payable. In order to
so elect, the Holder must deliver written notice of the election and the amount due to the Issuer via certified mail, return receipt
requested, at the Issuer’s address as set forth herein (or any other address provided to the Holder), and thereafter the
Issuer shall have twenty (20) days upon receipt to cure the Event of Default, pay this Note, or convert the amount due on this
Note pursuant to the conversion formula set forth in Paragraph 4 above. It is agreed that in the event of such action, such Holder
shall be entitled to receive all reasonable fees, costs and expenses incurred, including without limitation such reasonable fees
and expenses of its attorneys. The parties acknowledge that a change in control of the Issuer shall not be deemed to be an Event
of Default as set forth herein.

 

9. In
case any provision of this Note is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable,
such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and
the validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired thereby.

 

10. This
Note does not entitle the Holder hereof to any voting rights or other rights as a stockholder of the Issuer prior to the conversion
into Securities thereof, except as provided by applicable law. If, however, at the time of the surrender of this Note and conversion
the Holder hereof shall be entitled to convert this Note, the Conversion Shares so issued shall be and be deemed to be issued to
such holder as the record owner of such shares as of the close of business on the Voluntary Conversion Date.

 

[remainder of page intentionally left blank]

 

    3

     

    

 

This Note shall be
governed by, and construed and enforced in accordance with the laws of the State of Nevada without giving effect to the conflict
of laws provisions thereof.

 

IN WITNESS WHEREOF,
the Issuer has caused this Note to be duly executed by a person thereunto duly authorized.

 

	 	GENUFOOD ENERGY ENZYMES CORP.
	 	 
	 	By	/s/ James Tsai
	 	Name:  	James Tsai
	 	Title: 	Chairman of the Board
	 	 
	 	ACCEPTED:
	 	 
	 	By 	/s/ Jui Pin Pin
	 	 	Jui Pin Lin
	 	 
	 	Holder’s Address:
	 	 
	 	 	5F.-4, No.165, Sec.5
	 	 	Minsheng E. Rd., Songsan Dist
	 	 	Taipei City 10589, Taiwan
	 	 
	 	Holder’s Social Security or Federal Tax ID No.:
	 	 	not applicable

 

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NOTICE OF VOLUNTARY CONVERSION

 

(To be executed by the Holder in order to
convert the Note)

 

The undersigned hereby
irrevocably elects to convert the entire outstanding principal amount of the above 4% Convertible Promissory Note (the “Note”),
together with all accrued and unpaid interest, into such number of shares of the Issuer’s Common Stock as is obtained pursuant
to Paragraph 4 of the Note, as of the date written below.

 

As a material condition
to the conversion of the Note, the undersigned represents and warrants to the Issuer that, as of the date hereof, the undersigned
is either (Holder MUST initial one):

 

____ (i) an “accredited investor”
as that term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities
Act”); or

 

____ (ii) not a “U.S. person”
as that term is defined in Rule 902(k) of Regulation S promulgated under the Securities Act.

 

	Voluntary Conversion Date:	 	 	Signature:	 

 

	 	Print Name:	 

 

	 	Holder’s Address: 	 

 

		 	 
	 	 	 
	 	 	 

 

		Social Security or Federal
Tax ID No.:
	 	 
	 	 	 

 

	 	ACCEPTED:
	 	 
	 	GENUFOOD ENERGY ENZYMES CORP.
	 	 
	 	By	 
	 	 
	 	Print Name: 	 
	 	 
	 	Title:  	 

 

 

5Document

Exhibit 4(a)
DESCRIPTION OF KIMBALL INTERNATIONAL, INC.’S 
SECURITIES REGISTERED PURSUANT TO SECTION 12 
OF THE SECURITIES EXCHANGE ACT OF 1934
 

The following is a brief description of the Class B Common Stock, $0.05 par value per share (the “Class B Common Stock”), of Kimball International, Inc. (the “Company”), which is the only security of the Company registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). 
General 
The Company’s authorized capital stock consists of 150,000,000 shares, which are divided into 100,000,000 shares of Class B Common Stock and 50,000,000 shares of Class A Common Stock, par value $0.05 per share (the “Class A Common Stock”). As of August 24, 2020, the Company had 36,780,147 shares of Class B Common Stock and 193,162 shares of Class A Common Stock outstanding. 
The Class B Common Stock is traded on the Nasdaq Global Select Market under the trading symbol “KBAL.” The Class A Common Stock is not publicly traded and is not registered under Section 12 of the Exchange Act; however, any record holder of shares of Class A Common Stock is entitled, at any time or from time to time, to convert any or all of such shares held by such holder into the same number of shares of Class B Common Stock. The shares of Class A and Class B are equal in voting rights, with the only difference being that Class A Common Stock is not publicly traded or registered, as referenced above. The transfer agent for the Class B Common Stock is Broadridge Corporate Issuer Solutions, Inc.
The following description summarizes selected information regarding the Company’s Class B Common Stock, as well as relevant provisions of (i) the Company’s Amended and Restated Articles of Incorporation, as currently in effect (the “Articles”), (ii) the Company’s Restated By-Laws, as currently in effect (the “By-Laws”), and (iii) the Indiana Business Corporation Law (the “IBCL”). The following summary description of the Class B Common Stock is qualified in its entirety by reference to the provisions of the Company’s Articles and By-Laws, copies of which have been filed as exhibits to the Company’s periodic reports under the Exchange Act, and the applicable provisions of the IBCL.
Class B Common Stock
Voting Rights.  The holders of shares of Class B Common Stock are entitled to one vote per share on all matters requiring the vote of shareholders. All holders of shares of Class B Common Stock and Class A Common Stock will vote as a single class, except as otherwise required by applicable law, on all matters submitted to a vote of the Company’s shareholders. The express terms and provisions of the Class B Common Stock may not be changed without the affirmative vote of the holders of at least a majority of the issued and outstanding shares of the Class B Common Stock. 
Dividends.  The holders of Class B Common Stock and Class A Common Stock are entitled to receive, when and as declared by the Company’s Board of Directors, from funds lawfully available for the payment of dividends, all dividends payable in cash or other property of the Company. For this purpose, Class B Common Stock and Class A Common Stock are considered as one class, and the holders thereof are entitled to participate ratably, share for share, and without preference of either class over the other, in all dividends so declared and paid. No stock dividend may be declared or paid on the outstanding shares of Class B Common Stock unless payable in shares of that class, and no stock dividend may be declared or paid on the outstanding shares of Class B Common Stock unless, at the same time, a stock dividend, at the same rate, is declared and paid on the outstanding shares of the Class A Common Stock, payable in shares of that class. 
Liquidation.  Upon voluntary or involuntary dissolution of the Company, after payment or provision for payment of all of the Company’s obligations, the holders of the Class B Common Stock and Class A Common Stock are entitled to participate equally per share in all distributions of the Company’s assets.

Conversion Rights.  Although any record holder of shares of Class A Common Stock is entitled, at any time or from time to time, to convert any or all of such shares held by such holder into the same number of shares of Class B Common Stock, holders of Class B Common Stock are not entitled, based upon the terms of the Class B Common Stock, to convert shares of Class B Common Stock into shares of Class A Common Stock.
Preemptive, subscription and cumulative voting rights, redemption and sinking fund provisions and similar rights. The holders of Class B Common Stock are not entitled to preemptive or subscription rights, they do not have cumulative voting rights with respect to the election of directors, and there are no redemption or sinking fund provisions applicable to Class B Common Stock. The holders of Class B Common Stock are not subject to further calls or assessments by the Company. 
Anti-Takeover Effects of Provisions of the Company’s Articles, By-Laws and the IBCL
Under certain circumstances, certain provisions of the Company’s Articles and By-Laws and certain provisions of the IBCL may render more difficult, or may discourage, a merger, a tender offer, a proxy contest, or the assumption of control of the Company by a holder of a large block of the Company’s stock or other person, or the removal of incumbent management, even if such actions may be beneficial to the Company’s shareholders generally. 
Meetings of Shareholders. Under Chapter 29 of the IBCL, any action required to be taken by the Company’s shareholders may be effected only at an annual meeting or special meeting of shareholders, and shareholders may act in lieu of such meetings only by unanimous written consent. The Company’s By-Laws provide that special meetings of shareholders may be called only by the Company’s Board of Directors. Holders of the Company’s Class B Common Stock are not permitted to call a special meeting of shareholders or to require that the Company’s Board of Directors call a special meeting of shareholders. 
The Company’s By-Laws also establish an advance notice procedure for the nomination, other than by or at the direction of the Company’s Board of Directors, of candidates for election as directors as well as for other shareholder proposals to be considered at annual meetings of shareholders. In general, notice of intent to nominate a director or raise business at such meetings must be delivered to the Company not less than 90 days nor more than 110 days prior to the first anniversary of the preceding year’s annual meeting and must contain certain specified information concerning the person to be nominated or the matters to be brought before the meeting and concerning the shareholder submitting the proposal.
Amendment of By-Laws. The Company’s Articles and By-Laws provide that the Company’s Board of Directors has the exclusive authority to make, alter, amend or repeal the Company’s By-Laws.
Control Share Acquisitions. Under Chapter 42 of the IBCL, an acquiring person or group who makes a “control share acquisition” in an “issuing public corporation” may not exercise voting rights on any “control shares” unless these voting rights are conferred by a majority vote of the disinterested shareholders of the issuing public corporation at a special meeting of those shareholders held upon the request and at the expense of the acquiring person. If control shares acquired in a control share acquisition are accorded full voting rights and the acquiring person has acquired control shares with a majority or more of all voting power, all shareholders of the issuing public corporation have dissenters’ rights to receive the fair value of their shares pursuant to Chapter 44 of the IBCL.
Under the IBCL, “control shares” means shares acquired by a person that, when added to all other shares of the issuing public corporation owned by that person or in respect to which that person may exercise or direct the exercise of voting power, would otherwise entitle that person to exercise voting power of the issuing public corporation in the election of directors within any of the following ranges:
						
		One-fifth or more but less than one-third;
		One-third or more but less than a majority; or
		A majority or more.

“Control share acquisition” means, subject to specified exceptions, the acquisition, directly or indirectly, by any person of ownership of, or the power to direct the exercise of voting power with respect to, issued and outstanding control shares. For the purposes of determining whether an acquisition constitutes a control share acquisition, shares 

acquired within 90 days or under a plan to make a control share acquisition are considered to have been acquired in the same acquisition. “Issuing public corporation” means a corporation which has (i) 100 or more shareholders, (ii) its principal place of business or its principal office in Indiana, or that owns or controls assets within Indiana having a fair market value of greater than $1,000,000, and (iii) (A) more than 10% of its shareholders resident in Indiana, (B) more than 10% of its shares owned of record or owned beneficially by Indiana residents, or (C) 1,000 shareholders resident in Indiana.
The above provisions do not apply if, before a control share acquisition is made, the corporation’s articles of incorporation or by-laws, including a by-law adopted by the corporation’s board of directors, provide that they do not apply. The Company’s By-Laws provide that the Company is subject to the provisions of Chapter 42. In addition, the Company’s By-Laws provide that any control shares acquired in a control share acquisition may be redeemed by the Company for fair value during specified time periods if either no acquiring person statement is filed with the Company in accordance with Chapter 42 or the control shares are not accorded full voting rights by the Company’s shareholders.
Certain Business Combinations. Chapter 43 of the IBCL restricts the ability of a “resident domestic corporation” to engage in any business combinations with an “interested shareholder” for five years after the date the interested shareholder became such, unless the business combination or the purchase of shares by the interested shareholder on the interested shareholder’s share acquisition date is approved by the board of directors of the resident domestic corporation before the interested shareholder’s share acquisition date. If the business combination was not previously approved, the interested shareholder may effect a business combination after the five-year period only if that shareholder receives approval from a majority of the disinterested shareholders or the offer meets specified fair price criteria. 
For purposes of the above provisions, “resident domestic corporation” means an Indiana corporation that has 100 or more shareholders. “Interested shareholder” means any person, other than the resident domestic corporation or its subsidiaries, who is (1) the beneficial owner, directly or indirectly, of 10% or more of the voting power of the outstanding voting shares of the resident domestic corporation or (2) an affiliate or associate of the resident domestic corporation, which at any time within the five-year period immediately before the date in question, was the beneficial owner, directly or indirectly, of 10% or more of the voting power of the then outstanding shares of the resident domestic corporation.
The definition of “beneficial owner” for purposes of Chapter 43, means a person who, directly or indirectly, has the right to acquire or vote the subject shares (excluding voting rights under revocable proxies made in accordance with federal law), has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting or disposing of the subject shares, or holds any “derivative instrument” that includes the opportunity to profit or share in any profit derived from any increase in the value of the subject shares.
The above provisions do not apply to corporations that elect not to be subject to Chapter 43 in an amendment to their articles of incorporation approved by a majority of the disinterested shareholders. That amendment, however, cannot become effective until 18 months after its passage and would apply only to share acquisitions occurring after its effective date. The Company’s Articles do not include an election not to be subject to Chapter 43.
Mandatory Classified Board of Directors. Under Chapter 33 of the IBCL, a corporation with a class of voting shares registered with the U.S. Securities Exchange and Commission under Section 12 of the Exchange Act must have a classified board of directors unless the corporation adopts a by-law expressly electing not to be governed by this provision by the later of July 31, 2009 or 30 days after the corporation’s voting shares are registered under Section 12 of the Exchange Act. The Company’s By-Laws do not contain a provision electing not to be subject to this mandatory requirement. The Company’s Board of Directors is divided into three classes, with each director serving for a term ending on the date of the third annual meeting following the annual meeting in which such director was elected.

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