Document:

Exhibit
4.6

 

DESCRIPTION
OF CAPITAL STOCK

 

The
following description of Sentinel Energy Services Inc.’s (the “Company,” “we” or “us”)
capital stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to
the Company’s certificate of incorporation (the “Charter”) and the Company’s bylaws (the “Bylaws”),
each of which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.6 is a part.
We encourage you to read the Charter, the Bylaws and the applicable provisions of the Delaware General Corporation Law, for additional
information.

 

General

 

Our
Charter authorizes us to issue up to 221,000,000 shares of capital stock, consisting of (x) 220,000,000 shares of common stock,
including (i) 200,000,000 shares of Class A common stock, $0.0001 par value per share (“Class A Common Stock”), (ii)
20,000,000 shares of Class B common stock, $0.0001 par value per share (“Class B Common Stock”) and (y) 1,000,000
shares of preferred stock, par value $0.0001 per share.

 

Common
Stock

 

Founder
Shares

 

The
founder shares are designated as shares of Class B Common Stock and are identical to the shares of Class A Common Stock, and holders
of founder shares have the same stockholder rights as would public stockholders, except that (1) holders of the founder shares
have the right to vote on the election of directors prior to the initial business combination, (2) the founder shares are subject
to certain transfer restrictions, as described in more detail below, (3) the initial stockholders and Sentinel’s other officers
and directors at the time of the initial public offering have entered into letter agreements with Sentinel, pursuant to which
they have agreed to waive their redemption rights with respect to any founder shares and any public shares held by them in connection
with the completion of the business combination, (4) the founder shares are shares of Class B Common Stock that are convertible
into shares of Class A Common Stock at the time of an initial business combination on a one-for-one basis, subject to adjustment
pursuant to certain anti-dilution rights and (5) the founder shares are subject to registration rights. Furthermore, Sentinel’s
initial stockholders have agreed to vote any founder shares held by them and any public shares purchased during or after the initial
public offering in favor of the initial business combination.

 

Our
initial stockholders have agreed not to transfer, assign or sell any founder shares held by them until one year after the date
of the consummation of our initial business combination or earlier if, subsequent to our business combination, (1) the last sale
price of our shares of common stock equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations
and recapitalizations) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial
business combination or (2) we consummate a subsequent liquidation, merger, stock exchange or other similar transaction that results
in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property.

 

General
Provisions

 

Dividend
rights

 

Subject
to preferences that may be applicable to any then outstanding preferred stock, holders of common stock will be entitled to receive
such dividends and other distributions, if any, as may be declared from time to time by our board of directors in its discretion
out of funds legally available therefor and shall share equally on a per-share basis in such dividends and distributions. 

 

     

     

    

 

Voting
rights

 

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 will possess all voting power for the election of our directors and all other matters requiring stockholder
action and will at all times vote together as one class on all matters submitted to a vote of our stockholders. Holders of common
stock are entitled to one vote per share on matters to be voted on by stockholders; provided, however, that the holders of Class
B Common Stock will have the exclusive right to elect, remove and replace any director, and the holders of Class A Common Stock
will have no right to vote on the election, removal or replacement of any director.

 

Liquidation

 

Subject
to applicable law, the rights, if any, of the holders of any outstanding series of the preferred stock, in the event of any voluntary
or involuntary liquidation, dissolution or winding up of the Company, after payment or provision for payment of the debts and
other liabilities of the Company, the holders of shares of our common stock will be entitled to receive all the remaining assets
of the Company available for distribution to its stockholders, ratably in proportion to the number of shares of common stock held
by them.

 

Rights
and preferences

 

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

 

Preferred
Stock

 

Our
Charter authorizes 1,000,000 shares of preferred stock and provides that shares of preferred stock may be issued from time to
time in one or more series. Sentinel Delaware’s 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. Sentinel Delaware’s board of directors will be able,
without stockholder approval, to 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 Sentinel Delaware’s
board of directors to issue preferred stock without stockholder approval could have the effect of delaying, deferring or preventing
a change of control of Sentinel Delaware or the removal of existing management. Sentinel has no preferred stock outstanding at
the date hereof. Although Sentinel Delaware does not currently intend to issue any shares of preferred stock, Sentinel Delaware
cannot assure you that it will not do so in the future.

  

Dividends

 

We
have not paid any cash dividends on our common stock to date. The payment of cash dividends in the future will be dependent upon
our revenues and earnings, if any, capital requirements and general financial condition. The payment of any cash dividends will
be within the discretion of our Board at such time. Our Board is not currently contemplating and does not anticipate declaring
any stock dividends in the foreseeable future. Further, if we incur any indebtedness, our ability to declare dividends may be
limited by restrictive covenants we may agree to in connection therewith.

 

Limitations
of Liability and Indemnification

 

Our
Charter and our Bylaws provide that we will indemnify our directors and officers, and may indemnify our employees and other agents,
to the fullest extent permitted by the DGCL, which prohibits our Charter from limiting the liability of its directors for the
following:

 

		●	any
                                         breach of the director’s duty of loyalty to the Company or to its stockholders;

 

		●	acts
                                         or omissions not in good faith or that involve intentional misconduct or a knowing violation
                                         of law;

 

		●	unlawful
                                         payment of dividends or unlawful stock repurchases or redemptions; and

 

		●	any
                                         transaction from which the director derived an improper personal benefit.

 

    2

     

    

 

If
Delaware law is amended to authorize corporate action further eliminating or limiting the personal liability of a director, then
the liability of our directors will be eliminated or limited to the fullest extent permitted by Delaware law, as so amended. Our
Charter does not eliminate a director’s duty of care and, in appropriate circumstances, equitable remedies, such as injunctive
or other forms of non-monetary relief, remain available under Delaware law. This provision also does not affect a director’s
responsibilities under any other laws, such as the federal securities laws or other state or federal laws. Under our Bylaws, we
are empowered to purchase insurance on behalf of any person whom it is required or permitted to indemnify.

 

The
limitation of liability and indemnification provisions in our Charter and our Bylaws may discourage stockholders from bringing
a lawsuit against directors for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation
against directors and officers, even though an action, if successful, might benefit the Company and its stockholders. A stockholder’s
investment may be harmed to the extent that we pay the costs of settlement and damage awards against directors and officers pursuant
to these indemnification provisions.

 

Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as amended (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 U.S. Securities and Exchange Commission, such indemnification is against public policy as
expressed in the Securities Act, and is, therefore, unenforceable.

 

There
is no pending litigation or proceeding naming any of our directors or officers as to which indemnification is being sought, nor
are we aware of any pending or threatened litigation that may result in claims for indemnification by any director or officer.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for our common stock is Continental Stock Transfer & Trust Company.

 

 

3kins_ex10c

  Exhibit 10c

 

STOCK GRANT AGREEMENT made as of the
3rd day of
January, 2020 between KINGSTONE
COMPANIES, INC., a Delaware corporation (the
“Company”), and BARRY
B. GOLDSTEIN (the “Grantee”).

 

WHEREAS, the Grantee is the Chief
Executive Officer and President of the Company;

 

WHEREAS, the Company and the Grantee are
parties to a Second Amended and Restated Employment Agreement dated
as of October 14, 2019 (the “Employment
Agreement”);

 

WHEREAS, pursuant to the Employment
Agreement, the Compensation Committee of the Board of Directors of
the Company has approved the grant to the Grantee of common stock
of the Company (“Common Stock”) pursuant to the
Company’s 2014 Equity Participation Plan (the
“Plan”).

 

NOW, THEREFORE, in consideration of the
foregoing, the Company hereby grants to the Grantee an award of
shares of Common Stock upon the following terms and
conditions:

 

1. DEFINED
TERMS. All terms used, but not otherwise defined, herein
shall have the meanings ascribed to them in the Plan or the
Employment Agreement.

 

2. GRANT.
Subject to the terms and conditions of the Plan and the provisions
hereof, the Company hereby agrees to grant to the Grantee, pursuant
to Section 16 of the Plan, an award of One Hundred Fifty-Seven
Thousand Four Hundred Thirty-One (157,431) shares of Common Stock
(the “Shares”), such Shares being issuable on the
Vesting Dates (as hereinafter defined) set forth in, and subject to
the provisions of, Section 3 hereof.

 

3. VESTING OF
SHARES. (a) The Shares shall vest on the respective Vesting
Dates set forth below, provided that the Grantee continues to serve
as an employee, director or consultant of the Company as of the
applicable Vesting Date (or sooner as provided for in paragraph (c)
hereof):

 

(i)

Fifty-Two Thousand
Four Hundred Seventy-Seven (52,477) of the Shares on the first
anniversary of the date hereof (the “First Vesting
Date”);

 

(ii)

Fifty-Two Thousand
Four Hundred Seventy-Seven (52,477) of the Shares on the second
anniversary of the date hereof (the “Second Vesting
Date”); and

 

(iii)

Fifty-Two Thousand
Four Hundred Seventy-Seven (52,477) of the Shares on December 31,
2022 (the “Third Vesting Date”); each of the First
Vesting Date, the Second Vesting Date and the Third Vesting Date is
referred to hereinafter as a “Vesting
Date”.

 

(b) In the event that
the Grantee does not continue to serve as an employee, director or
consultant of the Company as of a particular Vesting Date as a
result of the termination of the Grantee’s employment for
Cause or the Grantee’s resignation (other than for Good
Reason), the Grantee shall not be entitled to receive any of the
Shares issuable on such Vesting Date or thereafter, and this
Agreement shall terminate and be of no further force or
effect.

 

(c) In the event that,
prior to a particular Vesting Date (i) the Grantee’s
employment with the Company is terminated other than for Cause,
(ii) the Grantee’s employment with the Company is terminated
as a result of the Grantee having become Disabled, (iii) the
Grantee dies while an employee of the Company, or (iv) the Grantee
resigns his employment with the Company for Good Reason, the Shares
that were scheduled to vest on such Vesting Date and thereafter
shall instead vest on the date of termination of employment, the
date of death or the date of resignation of employment, as the case
may be (the “Termination Date”).

 

(d) In the event that
Shares vest on a Vesting Date or the Termination Date, as the case
may be, the certificate representing the portion of the Shares then
vested shall be issued by the Company as soon as reasonably
practicable thereafter.

 

(e) The number of
Shares issuable to the Grantee is subject to adjustment for any
stock splits, reverse stock splits and other recapitalizations that
take effect prior to a particular Vesting Date or the Termination
Date, as the case may be.

 

 

 

 

4. INCORPORATION BY
REFERENCE. The terms and conditions of the Plan are hereby
incorporated by reference and made a part hereof.

 

5. NOTICES. Any
notice or other communication given hereunder shall be deemed
sufficient if in writing and hand delivered or sent by registered
or certified mail, return receipt requested, addressed to the
Company, 15 Joys Lane, Kingston, New York 12401, Attention: Chief
Financial Officer and to the Grantee at the address indicated
below, or, in each case, at such other address notice of which is
given in accordance with the foregoing provisions. Notices shall be
deemed to have been given on the date of hand delivery or mailing
as provided for above, except notices of change of address, which
shall be deemed to have been given when received.

 

6. BINDING
EFFECT. This Stock Grant Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective
legal representatives, successors and assigns.

 

7. ENTIRE
AGREEMENT. This Stock Grant Agreement, together with the
Plan, contains the entire understanding of the parties hereto with
respect to the subject matter hereof and may be modified only by an
instrument executed by the party sought to be charged.

 

8. GOVERNING
LAW. This Stock Grant Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware,
excluding choice of law rules thereof.

 

9. EXECUTION IN
COUNTERPARTS. This Stock Grant Agreement may be executed in
counterparts, each of which shall be deemed to be an original, but
both of which together shall constitute one and the same
instrument.

 

10. SIGNATURES.
Signatures hereon which are transmitted via facsimile, or other
electronic image, shall be deemed original signatures.

 

11. INTERPRETATION;
HEADINGS. The provisions of this Stock Grant Agreement shall
be interpreted in a reasonable manner to give effect to the intent
of the parties hereto. The headings and captions under sections and
paragraphs of this Stock Grant Agreement are for convenience of
reference only and do not in any way modify, interpret or construe
the intent of the parties or affect any of the provisions of this
Stock Grant Agreement.

 

[Remainder of page
intentionally left blank; signature page
follows]

 

 

IN WITNESS WHEREOF, the parties have
executed this Stock Grant Agreement as of the day and year first
above written.

 

	

 

	KINGSTONE
COMPANIES, INC.	

 

	

 

	

 

	

 

	

 

	

	
By:  

	
/s/ Victor
Brodsky

	

 

	

 

	

 

	
Victor
Brodsky

	

 

	

 

	

 

	

Chief Financial
Officer

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

/s/
Barry B. Goldstein

	

 

	

 

	

 

	

Signature of
Grantee

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

Barry
B. Goldstein 

	

 

	

 

	

 

	

Name of
Grantee

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

 

	

Address
of Grantee

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