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Exhibit 4.6

DESCRIPTION OF REGISTRANT’S SECURITIES
Authorized and Outstanding Securities
Our charter authorizes the issuance of 110.0 million shares, consisting of 100.0 million shares of Common Stock, $0.0001 par value per share, and 10.0 million shares of preferred stock, $0.0001 par value. The outstanding shares of our Common Stock are duly authorized, validly issued, fully paid and non-assessable.
Common Stock
Our charter provides that the Common Stock will have identical rights, powers, preferences and privileges.
              Voting Power
Except as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock, the holders of Common Stock possess all voting power for the election of our directors and all other matters requiring stockholder action. Holders of Common Stock are entitled to one vote per share on matters to be voted on by stockholders.
       Dividends
Holders of Common Stock will be entitled to receive such dividends, if any, as may be declared from time to time by our board of directors in its discretion out of funds legally available therefor. In no event will any stock dividends or stock splits or combinations of stock be declared or made on Common Stock unless the shares of Common Stock at the time outstanding are treated equally and identically.
       Liquidation, Dissolution and Winding Up
In the event of our voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up, the holders of the Common Stock will be entitled to receive an equal amount per share of all of our assets of whatever kind available for distribution to stockholders, after the rights of the holders of the preferred stock have been satisfied.
       Preemptive or Other Rights
There are no preemptive rights, redemption provisions or sinking fund provisions applicable to the Common Stock.
       Election of Directors
Our board of directors is divided into three separate classes with each class serving a three-year term. There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of the shares voted for the election of directors can elect all of the directors.
Preferred Stock
Our charter provides that shares of preferred stock may be issued from time to time in one or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. Our board of directors will be able to, without stockholder approval, issue preferred stock with voting and other rights that could adversely affect the voting power and other rights of the holders of the Common Stock and could have anti-takeover effects. The ability of our board of directors to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing a change of control of our company or the removal of existing management.
As of our fiscal year ended October 2, 2021, there were no shares of Preferred Stock outstanding. Shares of Series A Convertible Cumulative Preferred Stock issued in connection with our 2015 business combination were either purchased by us or converted by us into Common Stock.

Exhibit 4.6

Dividends
We have not paid any cash dividends on our Common Stock to date and do not intend to pay cash dividends. In addition, certain of our loan agreements restrict the payment of dividends. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements, debt covenants and general financial condition. The payment of any cash dividends will be within the discretion of our board of directors at such time.
Certain Anti-Takeover Provisions Under our Charter and Pursuant to Delaware Law
Our certificate of incorporation and bylaws contain provisions that could have the effect of delaying or preventing changes in control or changes in our management without the consent of our board of directors. These provisions include:
•no cumulative voting in the election of directors, which limits the ability of minority stockholders to elect director candidates; 
•the exclusive right of our board of directors to elect a director to fill a vacancy created by the expansion of the board of directors or the resignation, death, or removal of a director with or without cause by stockholders, which prevents stockholders from being able to fill vacancies on our board of directors; 
•subject to any rights of holders of existing preferred shares, the ability of our board of directors to determine whether to issue shares of our preferred stock and to determine the price and other terms of those shares, including preferences and voting rights, without stockholder approval, which could be used to significantly dilute the ownership of a hostile acquirer; 
•a prohibition on stockholder action by written consent, which forces stockholder action to be taken at an annual or special meeting of our stockholders; 
•the requirement that a special meeting of stockholders may be called only by the chairman of the board of directors, the chief executive officer, or the board of directors, which may delay the ability of our stockholders to force consideration of a proposal or to take action, including the removal of directors; 
•limiting the liability of, and providing indemnification to, our directors and officers; 
•controlling the procedures for the conduct and scheduling of stockholder meetings; 
•providing for a staggered board, in which the members of the board of directors are divided into three classes to serve for a period of three years from the date of their respective appointment or election; 
•permitting the removal of directors with or without cause by stockholders voting a majority of the votes cast if, at any time and for so long as, American Securities LLC (through its affiliate ASP BB Holdings LLC) beneficially owns, in the aggregate, capital stock representing at least 40% of the outstanding shares of our Common Stock; 
•advance notice procedures that stockholders must comply with in order to nominate candidates to our board of directors or to propose matters to be acted upon at a stockholders’ meeting, which may discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors or otherwise attempting to obtain control of our company; 
•requiring an affirmative vote of at least two-thirds of our entire board of directors and by the holders of at least 66.67% of the voting power of our outstanding voting stock in order to adopt an amendment to our certificate of incorporation if, at any time and for so long as, American Securities LLC (through its affiliate ASP BB Holdings LLC) beneficially owns, in the aggregate, capital stock representing at least 50% of the outstanding shares of our Common Stock; and 

Exhibit 4.6

•requiring an affirmative vote of at least two-thirds of our entire board of directors or by the holders of at least 66.67% of the voting power of our outstanding voting stock to amend our bylaws if, at any time and for so long as, American Securities LLC (through its affiliate ASP BB Holdings LLC) beneficially owns, in the aggregate, capital stock representing at least 50% of the outstanding shares of our Common Stock.
These provisions, alone or together, could delay hostile takeovers and changes in control of our Company or changes in our board of directors and management.
As a Delaware corporation, we are also subject to provisions of Delaware law, including Section 203 of the Delaware General Corporation Law (the “DGCL”), which prevents some stockholders holding more than 15% of our outstanding Common Stock from engaging in certain business combinations without approval of the holders of substantially all of our outstanding Common Stock. Any provision of our certificate of incorporation or bylaws or Delaware law that has the effect of delaying or deterring a change in control could limit the opportunity for our stockholders to receive a premium for their shares of our Common Stock and could also affect the price that some investors are willing to pay for our Common Stock.Document

September 1, 2021

Razvan Radulescu 
8150 SE 138th Dr.
Portland, OR  97236 

Dear Razvan,
Blue Bird is pleased to confirm our offer of employment as outlined in this Letter Agreement. 
Your Position
Upon Board approval, you will be appointed Chief Financial Officer, effective October 1, 2021. You will report to the Chief Executive Officer. As you know, we have announced that Phil Horlock, our current CEO, will step down from that role on October 31. Matt Stevenson, who joined Blue Bird as President on July 1, will succeed Phil as CEO on November 1. 
Salary 
Your annual salary will be $450,000, payable on the 10th and 25th of each month.  
Bonus 
You will be eligible to participate in the annual Blue Bird Management Incentive Bonus Plan (“MIP”) with a target of 75% of your base salary. Funding of the MIP is based on achievement of financial metrics approved by the Compensation Committee. The Compensation Committee has discretion to substantially increase the payout of the MIP bonus if the Company’s performance exceeds the target financial metrics.  
Equity Awards 
You will be eligible to participate in Blue Bird’s annual Long-Term Incentive Equity Plan (“LTI”) with a target of 75% of your base salary. Since becoming a public company in 2015, the LTI Awards have included a mix of stock options and restricted stock units (“RSUs”). For FY2021, LTI Awards for C-Level officers reporting to the CEO included 25% stock options and 75% RSUs. The LTI Awards vest annually in equal tranches over three years and are subject to performance vesting requirements established by the Board. Details regarding FY2022 LTI Awards will be reviewed in October when the Board establishes the key financial objectives for FY2022. 
Sign-on Incentive
On or before January 15, 2022, the Company will make a one-time incentive payment to you of $100,000 to partially offset incentive payments that you will forfeit upon resigning from your current position. You agree to reimburse the Company the full amount of this incentive payment if you resign on or before September 30, 2023 without the Company’s approval. 
Severance
If you are terminated without cause, you will be eligible to receive up to 12 months of base salary and continued group health insurance. This severance benefit is subject to the terms of our standard severance agreement, a copy of which has been provided to you. 
Withholding
All pay, incentives and other compensation shall be subject to applicable withholdings for federal, state and local taxes and shall be payable in accordance with State and Federal law and the Company’s regular payroll policies.

Your Benefits
While employed by the Company, you may be entitled to participate in certain benefit plans. Benefits details and eligibility requirements are available in Human Resources.  Employees are eligible for benefits after 90 days of continuous service as of their date of hire.
•Medical and pharmacy benefits  
•Optional Dental coverage
•Optional vision coverage   
•Flexible Spending Accounts and Dependent Care options
•Life insurance and AD&D  
•Blue Bird 401(k) Plan   
To ensure that there is no coverage gap in your group medical insurance, Blue Bird will provide reimbursement for your COBRA coverage, net of your normal monthly contribution, until you become eligible for coverage under Blue Bird’s plans. 
Expense Reimbursement
You shall be entitled to receive reimbursement for all appropriate traveling and other business expenses incurred by you in connection with your duties under this Agreement, in accordance with the policies of the Company in effect from time to time.
Relocation
Our offer includes relocation benefits administered through a third-party vendor we use for executive relocations. These benefits include temporary corporate housing for six months and payment of moving related expenses. In addition, we will make a one-time payment of $75,000 to you to facilitate your move to Blue Bird.   

Employment at Will 
Notwithstanding anything in this Letter Agreement to the contrary, your employment by the Company will be at will and may be terminated at any time, subject to the Company’s generally applicable employment policies. 
Amendment or Termination of Plans or Practices
The Company continues to reserve the right to modify, amend or terminate any of the employee benefit plans or practices described in these materials.  In all cases, the plan rules are the exclusive source for determining rights and benefits under a benefit or compensation plan and those plans shall govern if there is conflict with these materials.  
E-Verify
As a federal contractor, we are required to verify the eligibility of all new hires to the Department of Homeland Security utilizing the E-Verify website.  As such, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States.  Such documentation must be provided to us within three (3) business days from your date of hire, or our employment relationship with you may be terminated.  If you are unsure what documents are acceptable, please contact me prior to your start date for the current list.
Disclosure, Confidentiality, Non-Compete and Non-Solicitation 
If you have not already done so, we ask that you disclose to the Company any and all agreements relating to your prior employment that may affect your eligibility to be employed by the Company or limit the manner in which you may be employed. It is the Company’s understanding that any such agreements will not prevent you from performing the duties of your position and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third-party confidential information to the Company, including that of your former employer, and that in performing your duties for the Company you will not in any way utilize any such information. 

In the coming days we will provide you with additional information regarding employment at Blue Bird. Please let me know if you have any questions or if there is anything we can do to help make your transition a smooth one. 

We look forward to welcoming you at Blue Bird.  To accept our offer, please email a signed copy of this letter to felix.lin@blue-bird.com.
Sincerely,
/s/ Felix Lin
Felix Lin
Vice President – HR and External Affairs
Blue Bird Corporation

/s/ Razvan Radulescu                08/23/21
_________________________        ________________________
Razvan Radulescu            Date

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