Document:

EX-4.11

 Exhibit 4.11 
  

			
	NUMBER	  	UNITS
	 U-
	  	

 SEE REVERSE FOR CERTAIN DEFINITIONS 

CUSIP [ ] 
 GENERATION
INCOME PROPERTIES, INC. 
 UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND ONE WARRANT 

TO PURCHASE ONE SHARE OF COMMON STOCK 

THIS CERTIFIES THAT ____________ is the owner of ________________ Units. 

Each Unit (“Unit”) consists of one (1) share of common stock, par value $0.01 per share (“Common
Stock”), of Generation Income Properties, Inc., a Maryland corporation (the “Company”), and one warrant (the “Warrant”). Each Warrant entitles the holder to purchase one (1) share of
Common Stock at an exercise price equal to $                                
. Each Warrant is exercisable on the Detachment Date (defined below) and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date of issuance (the “Expiration
Date”). The Common Stock and Warrants comprising the Units represented by this certificate will begin separate trading, and the Units will cease trading, on the 30th day following the
date of the prospectus under which the Units were offered, unless Maxim Group LLC elects to allow separate trading earlier (“Detachment Date”). The terms of the Warrants are governed by a Warrant Agreement, dated as of
_______, 2021, between the Company and VStock LLC, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the
Warrant Agreement are on file at the office of the Warrant Agent at 18 Lafayette Place, Woodmere, NY 11598, and are available to any Warrant holder on written request and without cost. 

This certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company. 

This certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 

Witness the facsimile signature of a duly authorized signatory of the Company. 

 

					
	  
 Authorized Signatory
	 	    	  	  
 Transfer Agent

 Generation Income Properties, Inc. 

The Company will furnish without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights. 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

											
	TEN COM — as tenants in common	  	UNIF GIFT MIN ACT	  	—	  	                    Custodian             
                      
	TEN ENT — as tenants by the entireties	  		  		  	    (Cust)	 	(Minor)      

  

							
	JT TEN — as joint tenants with right of survivorship and not as tenants in common	  	 under Uniform Gifts to Minors Act

 

		  	(State)

 Additional abbreviations may also be used though not in the above list. 

For value received, _______ hereby sell, assign and transfer unto 

(PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE) 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 

Units represented by the within Certificate, and do hereby irrevocably constitute and appoint 

Attorney to transfer the said Units on the books of the within named Company with full power of substitution in the premises. 

 

			
	 Dated
  
	  	
		  	  
  

		  	Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.
	 Signature(s) Guaranteed:

 

	  
 THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 (OR ANY
SUCCESSOR RULE).Document

Exhibit 10.1

CALIX, INC.

Non-Employee Director Equity Compensation Policy, as amended February 11, 2021

1.General.  This Non-Employee Director Equity Compensation Policy (the “Policy”) is adopted by the Board of Directors (the “Board”) in accordance with Section 4.6 of the Calix, Inc. Amended and Restated 2019 Equity Incentive Award Plan (as amended from time to time, the “Plan”).  Capitalized but undefined terms used herein shall have the meanings provided for in the Plan.  
2.Board Authority.  Pursuant to Section 4.6 of the Plan, the Board is responsible for adopting a written policy for the grant of Awards under the Plan to Non-Employee Directors, which policy is to specify, with respect to any such Awards, the type of Award(s) to be granted Non-Employee Directors, the number of shares of Common Stock to be subject to Non-Employee Director Awards, the conditions on which such Awards shall be granted, become exercisable and/or payable and expire, and such other terms and conditions as the Board determines in its discretion.
3.Initial Option Grant to Non-Employee Directors.  Each person who is initially elected to the Board as a Non-Employee Director shall be granted, automatically and without necessity of any action by the Board or any committee thereof, on the date of such initial election an Option to purchase that number of shares of Common Stock equal to the product obtained by multiplying (a) the result of dividing (i) $175,000 by (ii) the Black Scholes value of an option to purchase one share of Common Stock as of the date of grant, as determined below, by (b) a fraction, the numerator of which is the number of whole days that will have passed from the date of election through the scheduled date of the Company’s next annual stockholder meeting and the denominator of which is 365, rounded down to the nearest whole share (an “Initial Director Option Grant”). Members of the Board who are employees of the Company and who subsequently terminate employment with the Company and remain members of the Board shall not receive an Initial Director Option Grant. For the purposes of this Policy, the Black-Scholes value of an Option to purchase a share of Common Stock shall be determined using the per share trading price of the Company’s common stock on the date of grant and the volatility, risk-free rate and life expectancy assumptions shall be as set forth in the Company’s then-most recent filing with the Securities and Exchange Commission that discloses such assumptions.
4.Subsequent Option Grants to Non-Employee Directors.  Each person who is a Non-Employee Director immediately following an annual meeting of stockholders shall be granted, automatically and without necessity of any action by the Board or any committee thereof, on the date of such annual meeting an Option to purchase that number of shares of Common Stock equal to the result of dividing (i) $175,000 by (ii) the Black Scholes value of an option to purchase one share of Common Stock as of the date of grant, as determined in accordance with the last sentence of Section 3 above, and rounded down to the nearest whole share (“Annual Director Option Grant”).  Members of the Board who are employees of the Company and who subsequently terminate employment with the Company and remain on the Board, to the extent that they are otherwise eligible, shall receive, after termination of employment with the Company, Annual Director Option Grants under this Section 4. 
5.Terms of Options Granted to Non-Employee Directors.  Each Option granted under this Policy shall have an exercise price per share equal to the Fair Market Value of a share of Common Stock on the date of grant.  Each Option granted under this Policy shall vest and become exercisable with respect to 100% of the shares of Common Stock underlying the Option on the earlier of (i) the one-year anniversary of the date of grant or (ii) the day immediately preceding the date of the annual meeting of stockholders that occurs in the year following the year of grant.  The Stock Option Agreement evidencing each grant of Initial Director Option Grants and Annual Director Option Grants shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrator in its sole discretion.  

6.Effect of Acquisition.  Upon a Change in Control of the Company, all Awards and all other stock options, restricted stock units and other equity awards with respect to the Common Stock that are held by a Non-Employee Director shall become fully vested and/or exercisable.
7.Effect of Other Plan Provisions.  The other provisions of the Plan shall apply to the Awards granted automatically pursuant to this Policy, except to the extent such other provisions are inconsistent with this Policy.
8.Incorporation of the Plan.  All applicable terms of the Plan apply to this Policy as if fully set forth herein, and all grants of Awards hereby are subject in all respect to the terms of such Plan.
9.Written Grant Agreement.  The grant of any Award under this Policy shall be made solely by and subject to the terms set forth in a written agreement in a form to be approved by the Board and duly executed by an executive officer of the Company.
10.Policy Subject to Amendment, Modification and Termination.  This Policy may be amended, modified or terminated by the Board in the future at its sole discretion.  No Non-Employee Director shall have any rights hereunder unless and until an Award is actually granted.  Without limiting the generality of the foregoing, the Board hereby expressly reserves the authority to terminate this Policy during any year up and until the election of directors at a given annual meeting of stockholders.
11.Effectiveness.  This Policy, as amended and restated herein, shall become effective as of February 11, 2021.

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