Document:

Exhibit 4.1

 

Advisors Asset Management, Inc.

18925 Base Camp Road

Monument, Colorado 80132

March 25, 2019

 

Advisors Disciplined Trust 1932

c/o The Bank of New York Mellon, as Trustee

BNY Atlantic Terminal

2 Hanson Place, 12th Floor

Brooklyn, New York 11217

 

Re:  Advisors Disciplined Trust 1932 (the “Fund”)

Ladies and Gentlemen:

We have examined
the Registration Statement File No. 333-229064 for the above captioned Fund. We hereby consent to the use in the Registration Statement
of the references to Advisors Asset Management, Inc. as evaluator.

You are hereby authorized
to file a copy of this letter with the Securities and Exchange Commission.

 

	 	Very truly yours,
	 	 	 
	 	Advisors Asset Management, Inc.
	 	 	 
	 	 	 
	 	By	/s/ ALEX R. MEITZNER
	 	 	Alex R. Meitzner
	 	 	Senior Vice PresidentExhibit 4.2

 

Consent of Independent Registered
Public Accounting Firm

We have issued our
report dated March 25, 2019, with respect to the financial statement of Advisors Disciplined Trust 1932 contained in Amendment
No. 1 to the Registration Statement on Form S-6 (File No. 333-229064) and related Prospectus. We consent to the use of the aforementioned
report in the Registration Statement and Prospectus, and to the use of our name as it appears under the caption “Experts”.

 

/s/ Grant
Thornton LLP

 

Chicago, Illinois

March 25, 2019EMPLOYMENT
AGREEMENT AMENDMENT

 

THIS
EMPLOYMENT AGREEMENT AMENDMENT (this “Amendment”) is entered into effective as of January 1, 2019 (the “Effective
Date”), between Rhino GP LLC (“Employer”) and Chad Hunt (“Employee”).

 

W
I T N E S S E T H

 

WHEREAS,
Employee is currently employed by Employer pursuant to an Amended and Restated Employment Agreement dated August 31, 2014 (as
amended, the “Prior Agreement”).

 

WHEREAS,
Employer and Employee now desire to amend the Prior Agreement, and have executed this Amendment to evidence the terms of their
agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows:

 

1.
Section 1 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“Terms
of Employment. Unless terminated earlier in accordance with the provisions of Section 7, Executive’s employment under
this Agreement shall be effective for a term commencing on the Effective Date and ending on December 31, 2019 (the “Employment
Term”).”

 

2.
The first sentence of Section 2 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“Executive
shall serve as the Chief Administrative Officer of the Employer.”

 

3.
Section 3 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“Base
Salary. The Employer shall pay Executive a base salary (the “Base Salary”) at the annual rate of $305,000, which
Base Salary shall be evaluated annually for potential increase, payable in regular installments in accordance with the usual executive
payroll practices of Employer.”

 

4.
All other terms and conditions in the Prior Agreement shall remain unchanged except to the extent specifically modified herein.

 

[SIGNATURE
PAGE TO FOLLOW]

 

    	 	1	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the day and year first above written.

 

	 	EMPLOYER:
	 	 	 
	 	Rhino GP LLC
	 	 	 
	 	By:	/s/
    Richard A. Boone
	 	 	 
	 	EMPLOYEE:
	 	 	 
	 	 	/s/
    Chad Hunt
	 	 	Chad Hunt

 

    	 	2EMPLOYMENT
AGREEMENT AMENDMENT

 

THIS
EMPLOYMENT AGREEMENT AMENDMENT (this “Amendment”) is entered into effective as of January 1, 2019 (the “Effective
Date”), between Rhino GP LLC (“Employer”) and Scott Morris (“Employee”).

 

W
I T N E S S E T H

 

WHEREAS,
Employee is currently employed by Employer pursuant to an Employment Agreement dated October 1, 2015 (as amended, the “Prior
Agreement”).

 

WHEREAS,
Employer and Employee now desire to amend the Prior Agreement, and have executed this Amendment to evidence the terms of their
agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows:

 

1.
The first sentence of Section 1 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“The
Employer hereby shall employ Employee as its Chief Financial Officer and Senior Vice President continuing from the Effective Date
until December 31, 2019, unless sooner terminated as herein provided or extended by mutual agreement of the parties (the “Employment
Term”), with such duties customary to such position as Employer may reasonably designate during the Employment Term.”

 

2.
Section 2 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“Compensation.
For Employee’s services hereunder during the Employment Term, Employer shall pay to Employee a salary at a rate of $237,500
per year (“Base Salary”), payable periodically in accordance with Employer’s usual executive payroll payment
procedures, subject to periodic review for possible increase.”

 

3.
All other terms and conditions in the Prior Agreement shall remain unchanged except to the extent specifically modified herein.

 

[SIGNATURE
PAGE TO FOLLOW]

 

    	 	1	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the day and year first above written.

 

	 	EMPLOYER:
	 	 	 
	 	Rhino
    GP LLC
	 	 	 
	 	By:	/s/
    Richard A. Boone
	 	 	 
	 	EMPLOYEE:
	 	 	 
	 	 	/s/
    Scott Morris
	 	 	Scott
Morris

 

    	 	2EMPLOYMENT
AGREEMENT AMENDMENT

 

THIS
EMPLOYMENT AGREEMENT AMENDMENT (this “Amendment”) is entered into effective as of January 1, 2019 (the “Effective
Date”), between Rhino GP LLC (“Employer”) and Brian Aug (“Employee”).

 

W
I T N E S S E T H

 

WHEREAS,
Employee is currently employed by Employer pursuant to an Employment Agreement dated November 21, 2016 (as amended, the “Prior
Agreement”).

 

WHEREAS,
Employer and Employee now desire to amend the Prior Agreement, and have executed this Amendment to evidence the terms of their
agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants herein contained, the parties agree as follows:

 

1.
The first sentence of Section 1 of the Prior Agreement is hereby deleted and replaced in its entirety with the following language:

 

“The
Employer hereby shall employ Employee as its Vice President of Sales continuing from the Effective Date until December 31, 2019,
unless sooner terminated as herein provided or extended by mutual agreement of the parties (the “Employment Term”),
with such duties customary to such position as Employer may reasonably designate during the Employment Term.”

 

2.
Section 2 of the Prior Agreement is hereby deleted and replaced
in its entirety with the following language:

 

“Compensation.
For Employee’s services hereunder during the Employment Term, Employer shall pay to Employee a salary at a rate of $220,000
per year (“Base Salary”), payable periodically in accordance with Employer’s usual executive payroll payment
procedures, subject to periodic review for possible increase.”

 

3.
As partial consideration for Employee entering into this Amendment,
Employer agrees that, on or before October 1, 2019, Employer shall notify Employee whether it intends to extend the Employment
Term for 2020, and shall provide Employee with the applicable agreement or amendment, if any.

 

4.
All other terms and conditions in the Prior Agreement shall remain unchanged except to the extent specifically modified herein.

 

[SIGNATURE
PAGE TO FOLLOW]

 

    	1

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the day and year first above written.

 

	 	EMPLOYER:
	 	 	 
	 	Rhino GP LLC
	 	 	 
	 	By:	/s/
    Richard A. Boone
	 	 	 
	 	EMPLOYEE:
	 	 
	 	 	/s/
    Brian Aug
	 	 	Brian
    Aug

 

    	2EXHIBIT 4.6 

 

THIS SECURITY HAS NOT BEEN REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED
OR SOLD UNLESS REGISTERED AND QUALIFIED PURSUANT TO THE APPLICABLE PROVISIONS OF FEDERAL AND STATE SECURITIES LAWS OR UNLESS AN
EXEMPTION FROM SUCH REGISTRATION OR QUALIFICATION APPLIES. THEREFORE, NO SALE OR TRANSFER OF THIS SECURITY SHALL BE MADE, NO ATTEMPTED
SALE OR TRANSFER SHALL BE VALID, AND THE ISSUER SHALL NOT BE REQUIRED TO GIVE ANY EFFECT TO ANY SUCH TRANSACTION UNLESS (A) SUCH
TRANSACTION HAS BEEN DULY REGISTERED UNDER THE ACT AND QUALIFIED OR APPROVED UNDER APPROPRIATE STATE SECURITIES LAWS, OR (B) THE
ISSUER HAS FIRST RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH REGISTRATION, QUALIFICATION OR APPROVAL
IS NOT REQUIRED. 

 

 

WARRANT

 

For the Purchase of Shares of Common
Stock of

 

ENVISION SOLAR INTERNATIONAL, INC.

 

Void After 5 P.M. __________ __, 2022

 

	No. _____________________	Date: March __, 2019

 

Warrant to Purchase _______________________
(_____) Shares of Common Stock

 

THIS IS TO CERTIFY, that, for
value received, , or registered assigns (the “Holder”), is entitled, subject to the terms and conditions
hereinafter set forth, on or after the date hereof, and at any time prior to 5 P.M., Pacific Time (“PT”), on ________
__, 2022, but not thereafter, to purchase such number of shares of common stock, par value $0.001 per share (the “Shares”),
of Envision Solar International, Inc., a Nevada corporation (the “Company”), from the Company as set forth above,
upon payment to the Company of an amount per Share equal to $0.15 (the “Purchase Price”), if and to the extent this
Warrant is exercised, in whole or in part, during the period this Warrant remains in force, subject in all cases to adjustment
as provided in Section 2 hereof, and to receive a certificate or certificates representing the Shares so purchased upon presentation
and surrender to the Company of this Warrant with the form of Subscription Agreement attached hereto, including changes thereto
reasonably requested by the Company, duly executed and accompanied by payment of the Purchase Price of each Share.

 

SECTION 1.

Terms of this Warrant

 

1.1       Time
of Exercise. This Warrant may be exercised at any time and from time to time after 9:00 A.M., PT, on the date hereof (the
“Exercise Commencement Date”), but no later than 5:00 P.M., PT on ________ __, 2022 (the “Expiration Time”),
at which time this Warrant shall become void and all rights hereunder shall cease.

 

    	1 

    	 

    

 

1.2       Manner
of Exercise.

 

1.2.1       The
Holder may exercise this Warrant, in whole or in part, upon surrender of this Warrant, with the form of Subscription Agreement
attached hereto duly executed, to the Company at its corporate office in San Diego, California, and upon payment to the Company
of the full Purchase Price for each Share to be purchased in lawful money of the United States, or by certified or cashier’s
check, or wired funds, and upon compliance with and subject to the conditions set forth herein.

 

1.2.2       Upon
receipt of this Warrant with the form of Subscription Agreement duly executed and accompanied by payment of the aggregate Purchase
Price for the Shares for which this Warrant is then being exercised, the Company shall cause to be issued certificates for the
total number of whole Shares for which this Warrant is being exercised in such denominations as are required for delivery to the
Holder, and the Company shall thereupon deliver such certificates to the Holder or its nominee.

 

1.2.3       In
case the Holder shall exercise this Warrant with respect to less than all of the Shares that may be purchased under this Warrant,
the Company shall execute a new Warrant for the balance of the Shares that may be purchased upon exercise of this Warrant and
deliver such new Warrant to the Holder.

 

1.3       Exchange
of Warrant. This Warrant may be divided into, combined with or exchanged for another Warrant or Warrants of like tenor to
purchase a like aggregate number of Shares. If the Holder desires to divide, combine or exchange this Warrant, he shall make such
request in writing delivered to the Company at its corporate office and shall surrender this Warrant and any other Warrants to
be so divided, combined or exchanged. The Company shall execute and deliver to the person entitled thereto a Warrant or Warrants,
as the case may be, as so requested. The Company shall not be required to effect any division, combination or exchange which will
result in the issuance of a Warrant entitling the Holder to purchase upon exercise a fraction of a Share. The Company may require
the Holder to pay a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any division,
combination or exchange of Warrants.

 

1.4       Holder
as Owner. Prior to surrender of this Warrant in accordance with Section 1.5 for registration or assignment, the Company may
deem and treat the Holder as the absolute owner of this Warrant (notwithstanding any notation of ownership or other writing hereon)
for the purpose of any exercise hereof and for all other purposes, and the Company shall not be affected by any notice to the
contrary.

 

1.5       Method
of Assignment. Any assignment or transfer of any portion or all of this Warrant shall be made by surrender of this Warrant
to the Company at its principal office with the form of assignment attached hereto duly executed and accompanied by funds sufficient
to pay any transfer tax. In such event, the Company shall, without charge, execute and deliver a new Warrant in the name of the
assignee named in such instrument of assignment and this Warrant shall promptly be canceled.

    	2 

    	 

    

 

1.6       Rights
of Holder. Nothing contained in this Warrant shall be construed as conferring upon the Holder the right to vote, consent or
receive notice as a shareholder in respect of any meetings of shareholders for the election of directors or any other matter,
or as having any rights whatsoever as a shareholder of the Company, until Shares are duly and properly issued to the Holder upon
the exercise of this Warrant.

 

1.7       Lost
Certificates. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall, on such reasonable terms as to indemnity
or otherwise as it may impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant
of like denomination and tenor as, and in substitution for, this Warrant, which shall thereupon become void. Any such new Warrant
shall constitute a substituted and not an additional contractual obligation of the Company.

 

1.8       Covenants
of the Company. The Company covenants and agrees as follows:

 

1.8.1       At
all times the Company shall reserve and keep available for the exercise of this Warrant such number of authorized shares of Common
Stock as are sufficient to permit the exercise in full of this Warrant.

 

1.8.2       The
Company covenants that all Shares when issued upon the exercise of this Warrant will be validly issued, fully paid, nonassessable
and free of preemptive rights.

 

 

SECTION 2.

Adjustment of Purchase Price

and Number of Shares Purchasable
upon Exercise

 

2.1       Stock
Splits. If the Company at any time or from time to time after the issuance date of this Warrant effects a subdivision of the
outstanding Common Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately decreased,
and conversely, if the Company at any time or from time to time after the issuance date of this Warrant combines the outstanding
shares of Common Stock, the Purchase Price then in effect immediately before the combination shall be proportionately increased.
Any adjustment under this subsection 2.1 shall become effective at the close of business on the date the subdivision or combination
becomes effective.

 

2.2       Dividends
and Distributions. In the event the Company at any time, or from time to time after the issuance date of this Warrant makes,
or fixes a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution
payable in additional shares of Common Stock, then and in each such event the Purchase Price then in effect shall be decreased
as of the time of such issuance or, in the event such a record date is fixed, as of the close of business on such record date,
by multiplying the Purchase Price then in effect by a fraction (i) the numerator of which is the total number of shares of Common
Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and
(ii) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to
the time of such issuance or the close of business on such record

    	3 

    	 

    

date plus the number of shares of Common
Stock issuable in payment of such dividend or distribution; provided, however, that if such record date is fixed and such dividend
is not fully paid or if such distribution is not fully made on the date fixed therefor, the Purchase Price shall be recomputed
accordingly as of the close of business on such record date and thereafter the Purchase Price shall be adjusted pursuant to this
subsection 2.2 as of the time of actual payment of such dividends or distributions.

 

2.3       Recapitalization
or Reclassification. If the Shares issuable upon the exercise of the Warrant are changed into the same or a different number
of shares of any class or classes of stock, whether by recapitalization, reclassification or otherwise (other than a subdivision
or combination of shares or stock dividend or a reorganization, merger, consolidation or sale of assets, provided for elsewhere
in this Section 2), then, and in any such event, the Holder shall thereafter be entitled to receive upon exercise of this Warrant
such number and kind of stock or other securities or property of the Company to which a holder of Shares deliverable upon exercise
of this Warrant would have been entitled on such reclassification or other change, subject to further adjustment as provided herein.

 

 

SECTION 3.

Status Under the Securities Act of
1933

 

This Warrant and
the Shares issuable upon exercise of this Warrant have not been registered under the Securities Act of 1933, as amended (“the
Act”). Upon exercise, in whole or in part, of this Warrant, the certificates representing the Shares shall bear the legend
first above written.

 

 

SECTION 4. 

Other Matters

 

4.1       Binding
Effect. All the covenants and provisions of this Warrant by or for the benefit of the Company shall bind and inure to the
benefit of its successors and assigns hereunder.

 

4.2       Notices.
Notices or demands pursuant to this Warrant to be given or made by the Holder to or on the Company shall be sufficiently given
or made if sent by certified or registered mail, return receipt requested, postage prepaid, or by email or facsimile or personal
delivery and addressed, until another address is designated in writing by the Company, as follows:

 

Envision Solar International,
Inc.

5660 Eastgate Drive

San Diego, California 92126

Telephone No.: (858) 799-4583

 

Email Address: desmond.wheatley@envisionsolar.com

Attention: Desmond Wheatley,
Chief Executive Officer

 

Notices to the
Holder provided for in this Warrant shall be deemed given or made by the Company if sent by certified or registered mail, return
receipt requested, postage prepaid, or by

    	4 

    	 

    

facsimile or email or personal delivery
and addressed to the Holder at his last known address as it shall appear on the books of the Company.

 

4.3       Governing
Law. The validity, interpretation and performance of this Warrant shall be governed by the laws of the State of California.
The venue for any legal proceedings under this Warrant will be in the appropriate forum in the County of San Diego, State of California.

 

4.4       Parties
Bound and Benefited. Nothing in this Warrant expressed and nothing that may be implied from any of the provisions hereof is
intended, or shall be construed, to confer upon, or give to, any person or corporation other than the Company and the Holder any
right, remedy or claim under any promise or agreement hereof, and all covenants, conditions, stipulations, promises and agreements
contained in this Warrant shall be for the sole and exclusive benefit of the Company and its successors and of the Holder, its
successors and permitted assigns.

 

4.5       Headings.
The Section headings herein are for convenience only and are not part of this Warrant and shall not affect the interpretation
thereof.

 

 

IN WITNESS WHEREOF,
this Warrant has been duly executed by the Company as of ________, 2019.

 

 

ENVISION SOLAR INTERNATIONAL, INC.

 

 

 

 

By:
_____________________________________

Desmond Wheatley,
Chief Executive Officer

    	5 

    	 

    

ASSIGNMENT OF WARRANT

 

 

 

 

FOR VALUE RECEIVED,
_______________________ hereby sells, assigns and transfers unto _____________________________ the within Warrant and the rights
represented thereby, and does hereby irrevocably constitute and appoint _______________________________ Attorney, to transfer
said Warrant on the books of the Company, with full power of substitution.

 

 

	Dated:	 

 

 

	Signed:	 

 

 

    	6 

    	 

    

SUBSCRIPTION AGREEMENT

FOR THE EXERCISE OF WARRANTS

 

The undersigned
hereby irrevocably subscribes for the purchase of _____________ Shares pursuant to and in accordance with the terms and conditions
of this Warrant, which Shares should be delivered to the undersigned at the address stated below. If said number of Shares are
not all of the Shares purchasable hereunder, a new Warrant of like tenor for the balance of the remaining Shares purchasable hereunder
should be delivered to the undersigned at the address stated below.

 

The undersigned
elects to pay the aggregate Purchase Price for such Shares in the following manner:

 

[ ]       by
the enclosed cash or check made payable to the Company in the amount of $________; or

 

[ ]       by
wire transfer of United States funds to the account of the Company in the amount of $____________, which transfer has been made
before or simultaneously with the delivery of this Notice pursuant to the instructions of the Company.

 

 

The undersigned
agrees that: (1) the undersigned will not offer, sell, transfer or otherwise dispose of any Shares unless either (a) a registration
statement, or post-effective amendment thereto, covering the Shares has been filed with the Securities and Exchange Commission
pursuant to the Securities Act of 1933, as amended (the “Act”), such sale, transfer or other disposition is accompanied
by a prospectus meeting the requirements of Section 10 of the Act forming a part of such registration statement, or post-effective
amendment thereto, which is in effect under the Act covering the Shares to be so sold, transferred or otherwise disposed of, and
all applicable state securities laws have been complied with, or (b) counsel reasonably satisfactory to Envision Solar International,
Inc. has rendered an opinion in writing and addressed to Envision Solar International, Inc. that such proposed offer, sale, transfer
or other disposition of the Shares is exempt from the provisions of Section 5 of the Act in view of the circumstances of such
proposed offer, sale, transfer or other disposition; (2) Envision Solar International, Inc. may notify the transfer agent for
the Shares that the certificates for the Shares acquired by the undersigned are not to be transferred unless the transfer agent
receives advice from Envision Solar International, Inc. that one or both of the conditions referred to in (1)(a) and (1)(b) above
have been satisfied; and (3) Envision Solar International, Inc. may affix the legend set forth in Section 3 of this Warrant to
the certificates for the Shares hereby subscribed for, if such legend is applicable.

 

	Dated: _______________	Signed:

 

	 	Address:
	 	 
	 	 

 

    	7

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