Document:

Exhibit 10.1

 

NEITHER THE ISSUANCE NOR SALE OF THE SECURITIES
REPRESENTED BY THIS NOTE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.
THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT
FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.

 

	Principal Amount: $100,001.00	Issue Date: February 25, 2021

 

 

	
         

        PROMISSORY NOTE

         

  

FOR VALUE RECEIVED,
VPR Brands, LP, a Delaware limited partnership (the “Company”), hereby promises to pay to the order of Kevin Frija
or registered assigns (the “Holder”) on February 25th, 2022 (the “Maturity Date”), the principal amount
set forth above (the “Principal Amount”), and to pay interest on the outstanding Principal Amount at the rate of Twenty
Four percent (24%) per annum (the “Note”). Interest shall commence accruing on the date hereof (the “Issue Date”),
computed on the basis of a 365-day year and the actual number of days elapsed, provided that any payment otherwise due on a Saturday,
Sunday or legal Bank holiday may be paid on the following business day. All payments due hereunder, shall be made in lawful money
of the United States of America.

 

1.       Transfers
of Note to Comply with the 1933 Act. The Holder agrees that this Note may not be
sold, transferred, pledged, hypothecated or otherwise disposed of except as follows:  (a) to a person whom the Note may
legally be transferred without registration and without delivery of a current prospectus under the 1933 Act with respect thereto
and then only against receipt of an agreement of such person to comply with the provisions of this Section 1 with respect to any
resale or other disposition of the Note; or (b) to any person upon delivery of a prospectus then meeting the requirements of the
1933 Act relating to such securities and the offering thereof for such sale or disposition, and thereafter to all successive assignees.

 

2.          Right
of Prepayment. The Company may repay any amount of the Note at any time. On each
business day, the Holder may deduct one (1) ACH payment from the bank account of the Borrower (as specified on Exhibit “A”
of this Note) in the amount of $500.00 per business day until such time as the Borrower has paid an amount equal to the principal
and accrued interest as set forth in the Note. Each such payment shall be applied first to accrued and unpaid interest and the
balance shall be applied towards the reduction of the principal amount due under this Note.

 

3.          Representations
and Warranties.  The Company represents and warrants to the Holder that:

 

		(a)	such party is duly organized, validly existing and in good standing (if applicable) under the
laws of the jurisdiction of its organization;

 

		(b)	such party has authority to own its property and assets and to carry on its business as now conducted,
except, in each case, where the failure to do so, or so possess, individually or in the aggregate would not reasonably be expected
to result in a material adverse effect;

 

		(c)	such party has all requisite organizational power and authority to execute and deliver and perform
all its obligations under this Note;

 

		(d)	such party is qualified to do business in, and is in good standing (where such concept exists)
in, every jurisdiction in which the nature of its business or the ownership or leasing of its properties makes such 

    

    

    

qualification necessary, except where the failure to be
so qualified or in good standing individually or in the aggregate would not reasonably be expected to result in a material adverse
effect;

 

		(e)	the transactions contemplated hereby is within such party’s organizational powers and have
been duly authorized by all necessary corporate or limited liability company action;

 

		(f)	this Note has been duly executed and delivered by such party and constitutes a legal, valid and
binding obligation of such party, enforceable in accordance with its terms; and

 

		(g)	the transactions to be entered into and contemplated by this Note (a) do not require any consent
or approval of, registration or filing with, or any other action by, any governmental authority except for the Company’s
disclosure obligations under federal securities laws, (b) will not (i) violate any applicable law or (ii) the organizational documents,
bylaws, charter, operating agreement, certificate of formation or certificate of incorporation of such party, (c) will not
violate or result in a default under any indenture or any other agreement, instrument or other evidence of indebtedness, and (d) will
not result in the creation or imposition of any lien on any asset of such party.

 

4.       Remedies
Upon Default.  In the event that the Company defaults on its payment obligations
under this Note, the Holder may proceed to protect and enforce its rights and remedies under this Note by suit in equity, action
at law or other appropriate proceeding, whether for the specific performance of any covenant or agreement contained in this Note
and proceed to enforce the payment thereof or any other legal or equitable right of the Holder.

 

5.       Cancellation
of Note. Upon the repayment by the Company of all of its obligations hereunder to
the Holder, including, without limitation, the principal amount of this Note, plus accrued but unpaid interest, the indebtedness
evidenced hereby shall be deemed canceled and paid in full.  Payments received by the Holder hereunder shall be applied
first against interest accrued on this Note, and next in reduction of the outstanding principal balance of this Note.

 

6.       Severability.  If
any provision of this Note is, for any reason, invalid or unenforceable, the remaining provisions of this Note will nevertheless
be valid and enforceable and will remain in full force and effect.  Any provision of this Note that is held invalid or
unenforceable by a court of competent jurisdiction will be deemed modified to the extent necessary to make it valid and enforceable
and as so modified will remain in full force and effect.

 

7.       Amendment
and Waiver.  This Note, or any provision of this Note, may only be amended or
waived if set forth in a writing executed by the Company and Holder.  The waiver by Holder of a breach of any provision
of this Note shall not operate or be construed as a waiver of any other breach.

 

8.       Successors.  Except
as otherwise provided herein, this Note shall bind and inure to the benefit of and be enforceable by the Holder and its permitted
successors and assigns.

 

9.       Assignment.  This
Note shall not be directly or indirectly assignable or delegable by the Company or the Holder, except as provided in a writing
executed by the Company and Holder.

 

10.   Further
Assurances.  The Holder will execute all documents and take such other actions
as the Company may reasonably request in order to consummate the transactions provided for herein and to accomplish the purposes
of this Note.

 

11.   Notices,
Consents, etc.  Any notices, consents, waivers or other communications required
or permitted to be given under the terms hereof must be in writing and will be deemed to have been delivered:  (i) upon
receipt, when delivered personally; (ii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically
or electronically generated and kept on file by the sending party); or (iii) one (1) business day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the same.  The addresses
and facsimile numbers for such communications shall be:

 

	If to Company:	
        VPR BRANDS, LP

        3001 Griffin Road

        Fort Lauderdale, FL 33312

    

    

    

 

	 	
        Attention: Kevin Frija

        Telephone: 954.715.7001

        Facsimile: Kevin.Frija@vprbrands.com

	 	 
	With a Copy to (which shall not constitute notice):	
         

        Anthony LG, PLLC

        Attention: Laura E. Anthony, Esq.

         

	 	 
	If to the Holder:	
        Kevin Frija

        Attention:

        Telephone:

        Facsimile: ______________________

	 	 

or at such other address and/or
facsimile number and/or to the attention of such other person as the recipient party has specified by written notice given to each
other party three (3) trading days prior to the effectiveness of such change.  Written confirmation of receipt (A) given
by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by the sender's
facsimile machine containing the time, date, recipient facsimile number and an image of the first page of such transmission or
(C) provided by a nationally recognized overnight delivery service, shall be rebuttable evidence of personal service, receipt by
facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i), (ii) or (iii) above,
respectively.

 

12.   Governing
Law.  Except in the case of the Jurisdiction provisions of Section 13 below,
this Note shall be delivered and accepted in and shall be deemed to be contracts made under and governed by the internal laws of
the State of Delaware, and for all purposes all questions concerning the construction, validity and interpretation of this Note
and any and all disputes or controversies arising out of the subject matter hereof (whether by contract, tort or otherwise) shall
be governed by and construed in accordance with the domestic laws of the State of Delaware, without giving effect to any choice
of law or conflict of law provision (whether of the State of Delaware or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of Florida.

 

13.   Jurisdiction.  EACH
PARTY HERETO AGREES THAT JURISDICTION AND VENUE IN ANY ACTION BROUGHT BY THE HOLDER PURSUANT TO THIS NOTE SHALL PROPERLY (BUT NOT
EXCLUSIVELY) LIE IN ANY FEDERAL OR STATE COURT LOCATED IN BROWARD COUNTY, FLORIDA.  BY EXECUTION AND DELIVERY OF THIS
AGREEMENT, EACH PARTY HERETO IRREVOCABLY SUBMITS TO THE JURISDICTION OF SUCH COURTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY WITH
RESPECT TO SUCH ACTION.  EACH PARTY HERETO IRREVOCABLY AGREES THAT VENUE WOULD BE PROPER IN SUCH COURT, AND HEREBY WAIVES
ANY OBJECTION THAT SUCH COURT IS AN IMPROPER OR INCONVENIENT FORUM FOR THE RESOLUTION OF SUCH ACTION.  EACH PARTY HERETO
FURTHER AGREES THAT THE MAILING BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, OF ANY PROCESS REQUIRED BY ANY SUCH
COURT SHALL CONSTITUTE VALID AND LAWFUL SERVICE OF PROCESS AGAINST THEM, WITHOUT NECESSITY FOR SERVICE BY ANY OTHER MEANS PROVIDED
BY STATUTE OR RULE OF COURT.

 

14.    No
Inconsistent Agreements.  No party hereto will hereafter enter into any agreement,
which is inconsistent with the rights granted to the Holder in this Note.

 

15.   Third
Parties.  Nothing herein expressed or implied is intended or shall be construed
to confer upon or give to any person or entity, other than the Holder and its permitted successor and assigns, any rights or remedies
under or by reason of this Note.

  

16.   Waiver
of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS NOTE. EACH PARTY HERETO CERTIFIES AND ACKNOWLEDGES THAT
(A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE HOLDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE HOLDER WOULD NOT, IN THE
EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH PARTY HERETO UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS
OF THIS WAIVER, (C) EACH 

    

    

    

 

PARTY HERETO MAKES THIS WAIVER VOLUNTARILY,
AND (D) EACH PARTY HERETO HAS BEEN INDUCED TO ENTER INTO THIS NOTE BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

 

17.   Usury
Savings Clause. Notwithstanding any provision in this Note to the contrary, the
total liability for payments of interest and payments in the nature of interest, including, without limitation, all charges, fees,
exactions, or other sums which may at any time be deemed to be interest, shall not exceed the limit imposed by the usury laws of
the jurisdiction governing this Note or any other applicable law. In the event the total liability of payments of interest and
payments in the nature of interest, including, without limitation, all charges, fees, exactions or other sums which may at any
time be deemed to be interest, shall, for any reason whatsoever, result in an effective rate of interest, which for any month or
other interest payment period exceeds the limit imposed by the usury laws of the jurisdiction governing this Note, all sums in
excess of those lawfully collectible as interest for the period in question shall, without further agreement or notice by, between,
or to any party hereto, be applied to the reduction of the outstanding principal balance due hereunder immediately upon receipt
of such sums by the Holder hereof, with the same force and effect as though the Company had specifically designated such excess
sums to be so applied to the reduction of the principal balance then outstanding, and the Holder hereof had agreed to accept such
sums as a penalty-free payment of principal; provided, however, that the Holder may, at any time and from time to time, elect,
by notice in writing to the Company, to waive, reduce, or limit the collection of any sums in excess of those lawfully collectible
as interest, rather than accept such sums as a prepayment of the principal balance then outstanding. It is the intention of the
parties that the Company does not intend or expect to pay, nor does the Holder intend or expect to charge or collect any interest
under this Note greater than the highest non-usurious rate of interest which may be charged under applicable law.

 

18.   Entire
Agreement.  This Note (including any recitals hereto) set forth the entire understanding
of the parties with respect to the subject matter hereof, and shall not be modified or affected by any offer, proposal, statement
or representation, oral or written, made by or for any party in connection with the negotiation of the terms hereof, and may be
modified only by instruments signed by all of the parties hereto.

 

 

[Signature page to follow]

    

    

    

 

 

IN WITNESS WHEREOF,
this Note is executed by the undersigned as of the date hereof.

 

  

VPR BRANDS, LP

	By: 	Soleil Capital Management LLC,
	 	its General Partner 
	 	 
	 	 
	By:	/s/ Kevin Frija

	Name:	Kevin Frija 
	Title:	Manager and Chief Executive OfficerDocument

Exhibit 4.5

DESCRIPTION OF CAPITAL STOCK
 
General
The following is a summary of the rights of our common stock and preferred stock and certain provisions of our amended and restated certificate of incorporation and amended and restated bylaws. This summary does not purport to be complete and is qualified in its entirety by the provisions of our amended and restated certificate of incorporation, amended and restated bylaws, amended and restated investors’ rights agreement and shareholders agreement, which are filed as exhibits to the Annual Report on Form 10-K of which this exhibit is a part, and to the applicable provisions of Delaware law.
Our authorized capital stock consists of 2,200,000,000 shares of capital stock, $0.0001 par value per share, of which:
 
												
	 	•	 	2,000,000,000 shares are designated as common stock; and

 
												
	 	•	 	200,000,000 shares are designated as preferred stock.

As of February 22, 2021, there were 202,583,673 shares of our common stock outstanding, held by 341 stockholders of record, and no shares of our preferred stock outstanding.

Common Stock

Dividend Rights
Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of our common stock are entitled to receive dividends out of funds legally available if our board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that our board of directors may determine. 

Voting Rights
Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders. We have not provided for cumulative voting for the election of directors in our amended and restated certificate of incorporation. Our amended and restated certificate of incorporation establishes a classified board of directors that is divided into three classes with staggered three-year terms. Only the directors in one class are subject to election by a plurality of the votes cast at each annual meeting of our stockholders, with the directors in the other classes continuing for the remainder of their respective three-year terms.
 
No Preemptive or Similar Rights
Our common stock is not entitled to preemptive rights and is not subject to conversion, redemption or sinking fund provisions.
 
Right to Receive Liquidation Distributions
If we become subject to a liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our common stock and any participating preferred stock outstanding at that time, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights and payment of liquidation preferences, if any, on any outstanding shares of preferred stock.
 

 
Fully Paid and Non-Assessable
All of the outstanding shares of our common stock are fully paid and non-assessable.
 
Preferred Stock
Pursuant to our amended and restated certificate of incorporation, our board of directors has the authority, without further action by the stockholders, to issue from time to time shares of preferred stock in one or more series. Our board of directors may designate the rights, preferences, privileges and restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, redemption rights, liquidation preference, sinking fund terms, and the number of shares constituting any series or the designation of any series. The issuance of preferred stock could have the effect of restricting dividends on our common stock, diluting the voting power of our common stock, impairing the liquidation rights of our common stock, or delaying, deterring, or preventing a change in control. Such issuance could have the effect of decreasing the market price of our common stock. We currently have no plans to issue any shares of preferred stock.
 
Options
As of December 31, 2020, we had outstanding options to purchase an aggregate of 7,850,754 shares of our common stock, with a weighted-average exercise price of approximately $9.70 per share, under our equity compensation plans and the equity compensation plan we assumed in connection with one of our acquisitions.
 
Restricted Stock Units
As of December 31, 2020, we had outstanding 6,886,787 shares of our common stock issuable upon the vesting of RSUs under our equity compensation plans.
 
 
Registration Rights
Certain holders of our common stock are entitled to rights with respect to the registration of their shares under the Securities Act. These registration rights are contained in our shareholders agreement (the “Shareholders Agreement”). We and certain former securityholders of CEE are parties to the Shareholders Agreement. The registration rights set forth in the Shareholders Agreement will expire seven years following our initial public offering, or, with respect to any particular stockholder, when such stockholder is able to sell all of its shares entitled to registration rights pursuant to Rule 144 of the Securities Act during any 90-day period. We will pay the registration expenses (other than underwriting discounts and commissions and stock transfer taxes) of the holders of the shares registered pursuant to the registrations described below.

Demand Registration Rights
The holders of at least a majority of the shares entitled to registration rights then outstanding can request that we file a registration statement to register the offer and sale of their shares. We are obligated to effect only two such registrations. Such request for registration must cover securities the anticipated aggregate public offering price of which, before payment of underwriting discounts and commissions, is at least $60,000,000 for the first request, and at least $10,000,000 for the second request. If we determine that it would be materially detrimental to us and our 

stockholders to effect such a demand registration, we have the right to defer such registration, not more than once in any 12-month period, for a period of up to 90 days.

Piggyback Registration Rights
If we propose to register the offer and sale of shares of our common stock under the Securities Act, all holders of shares entitled to registration rights then outstanding can request that we include their shares in such registration, subject to certain marketing and other limitations. As a result, whenever we propose to file a registration statement under the Securities Act, other than with respect to (i) a registration on Form S-8 relating solely to employee stock option, stock purchase or other benefit plans, or (ii) a registration on Form S-4 relating solely to a transaction covered by Rule 145 promulgated under the Securities Act, the holders of these shares are entitled to notice of the registration and have the right, subject to certain limitations, to include their shares in the registration. 

S-3 Registration Rights
The holders of at least a majority of the shares entitled to registration rights then outstanding can request that we register the offer and sale of their shares of our common stock on a registration statement on Form S-3 if we are eligible to file a registration statement on Form S-3 so long as the request covers securities the anticipated aggregate public offering price of which, before payment of underwriting discounts and commissions, is at least $3,000,000. These stockholders may make an unlimited number of requests for registration on a registration statement on Form S-3. However, we will not be required to effect a registration on Form S-3 if we have effected two such registrations within the 12-month period preceding the date of the request. Additionally, if we determine that it would be materially detrimental to us and our stockholders to effect such a registration, we have the right to defer such registration, not more than once in any 12-month period, for a period of up to 90 days.
 
Anti-Takeover Provisions
The provisions of our amended and restated certificate of incorporation and our amended and restated bylaws, which are summarized below, may have the effect of delaying or discouraging another person from acquiring control of us. These provisions are 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 because negotiation of these proposals could result in an improvement of their terms.
 
 Delaware Law
We are subject to of Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits a public Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder, unless:
 
												
	 	•	 	the transaction was approved by the board of directors prior to the time that the stockholder became an interested stockholder;

 
												
	 	•	 	upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding shares owned by directors who are also officers of the corporation and shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

 

												
	 	•	 	at or subsequent to the time the stockholder became an interested stockholder, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

In general, Section 203 defines a “business combination” to include mergers, asset sales and other transactions resulting in financial benefit to a stockholder and an “interested stockholder” as a person who, together with affiliates and associates, owns, or within three years did own, 15% or more of the corporation’s outstanding voting stock. These provisions may have the effect of delaying, deferring or preventing changes in control of our company.
 
Amended and Restated Certificate of Incorporation and Amended and Restated Bylaw Provisions
Our amended and restated certificate of incorporation and our amended and restated bylaws include a number of provisions that could delay or discourage an unsolicited takeover or a change in control or changes in our board of directors or management team, including the following:
 
Board of Directors Vacancies. Our amended and restated certificate of incorporation and amended and restated bylaws authorize only our board of directors to fill vacant directorships, including newly created seats. In addition, the number of directors constituting our board of directors is be permitted to be set only by a resolution adopted by a majority vote of our entire board of directors. These provisions prevent a stockholder from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies with its own nominees. This makes it more difficult to change the composition of our board of directors and promotes continuity of management.
 
Classified Board. Our amended and restated certificate of incorporation and amended and restated bylaws provide that our board of directors is classified into three classes of directors. A third party may be discouraged from making a tender offer or otherwise attempting to obtain control of us as it is more difficult and time consuming for stockholders to replace a majority of the directors on a classified board of directors. See the section titled “Management—Classified Board of Directors.”
 
Directors Removed Only for Cause. Our amended and restated certificate of incorporation provides that stockholders may remove directors only for cause.
 
Stockholder Action; Special Meeting of Stockholders. Our amended and restated certificate of incorporation provides that our stockholders may not take action by written consent, but may only take action at annual or special meetings of our stockholders. As a result, a holder controlling a majority of our capital stock is not
able to amend our amended and restated bylaws or remove directors without holding a meeting of our stockholders called in accordance with our amended and restated bylaws. Our amended and restated bylaws further provide that special meetings of our stockholders may be called only by a majority of our board of directors, the chairman of our board of directors, our Chief Executive Officer or our President, thus preventing a stockholder from calling a special meeting. These provisions might delay the ability of our stockholders to force consideration of a proposal or for stockholders controlling a majority of our capital stock to take any action, including the removal of directors.
 
Advance Notice Requirements for Stockholder Proposals and Director Nominations. Our amended and restated bylaws provide advance notice procedures for stockholders seeking to bring business before our annual or special meetings of stockholders or to nominate candidates for election as directors at our annual or special meetings of stockholders. Our amended and restated bylaws also specify certain requirements regarding the form and content 

of a stockholder’s notice. These provisions might preclude our stockholders from bringing matters before our annual or special meetings of stockholders or from making nominations for directors at our annual or special meetings of stockholders if the proper procedures are not followed. We expect that these provisions may also discourage 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.
 
No Cumulative Voting. The Delaware General Corporation Law provides that stockholders are not entitled to cumulate votes in the election of directors unless a corporation’s certificate of incorporation provides otherwise. Our amended and restated certificate of incorporation does not provide for cumulative voting.
 
Amendment of Charter Provisions. Any amendment of the above provisions in our amended and restated certificate of incorporation would require approval by holders of at least 66 2⁄3% of our then outstanding capital stock.
 
Issuance of Undesignated Preferred Stock. Our board of directors has the authority, without further action by our stockholders, to designate and issue shares of preferred stock with rights and preferences, including voting rights, designated from time to time by our board of directors. The existence of authorized but unissued shares of undesignated preferred stock would enable our board of directors to render more difficult or to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest or other means.
 
Choice of Forum. Our bylaws provide that, unless the we consent in writing to the selection of an alternative forum, the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL, or (iv) any action asserting a claim governed by the internal affairs doctrine, shall in each case be a state or federal court located within the state of Delaware, in all cases subject to the court’s having personal jurisdiction over the indispensable parties named as defendants. In addition, our bylaws provide that, unless we consent in writing to the selection of an alternative forum, to the fullest extent permitted by law, the federal district courts of the United States of America shall be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended. 
 
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. The transfer agent and registrar’s address is 6201 15th Avenue, Brooklyn, New York 11219.
 
Limitations of Liability and Indemnification
See the section titled “Certain Relationships and Related Party Transactions—Limitation of Liability and Indemnification of Officers and Directors” of the Annual Report on Form 10-K of which this Exhibit 4.7 is a part.
 
 
Listing
Our common stock is currently listed on the Nasdaq Global Select Market under the symbol “RUN.”

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