Document:

Exhibit 10.2

 

 

Dear Mr. Qingling Zhang:

 

We are very pleased that you have accepted to
join our Board of Directors as an independent director, Chairperson of the Board’s nominating and corporate governance committee,
and a member of the Board’s audit committee and the compensation committee as of April 15, 2022.

 

We have been working hard to bring seasoned and
experienced professionals to our Board of Directors, and we are excited to welcome your knowledge and experience. We feel that you will
be a great asset to our team and contribute to our plans.

 

This is to confirm our understanding that you
will receive an annual director fee of RMB 72,000 (approximately USD $11,300) in cash, payable monthly (RMB 6,000 per month) as cash compensation
for services rendered to us. You will be reimbursed for any reasonable out-of-pocket expenses incurred in connection with activities on
our behalf and performance of your duties.

 

Please confirm your acceptance by signing below
and we will get the appropriate paperwork in order. We will provide as much advance notice to you as possible in connection with any meetings
of the Board of Directors that we have.

 

Please feel free to call me if you have any questions.
I look forward to a successful and exciting relationship.

 

QILIAN INTERNATIONAL HOLDING GROUP LIMITED

 

	By:	/s/ Zhanchang Xin	 
	Name:	Zhanchang Xin	 
	Title:	Chief Executive Officer	 

 

	By:	/s/ Qingling Zhang	 
	Name:	Qingling ZhangExhibit 4.4

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Future FinTech Group
Inc. (the “Company”, “we”, “us” or “our”) has one class of securities registered under
Section 12 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) which consists of common stock, $0.001
par value per share (the “Common Stock”). The following is a summary of our capital stock and certain provisions of our certificate
of incorporation and bylaws. This summary does not purport to be complete and is qualified in its entirety by the provisions of our Second
Amended and Restated Articles of Incorporation, as amended (“Articles of Incorporation”), our Amended and Restated Bylaws
(“Bylaws”), and applicable provisions of the Florida Business Corporation Act (the “FCBA”).

 

Our authorized capital
stock consists of 300,000,000 shares of Common Stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value
$0.001 per share. Currently, we have no other authorized classes of stock.  In addition, there are warrants to purchase 557,791
shares of our Common Stock outstanding of the Company’s common stock as of April 12, 2022.

 

DESCRIPTION OF COMMON
STOCK

 

As of April 12, 2022,
there were 70,067,147 shares of our Common Stock outstanding, held by approximately 57 stockholders of record.

 

Our Common Stock is currently
traded on The NASDAQ Capital Market under the symbol “FTFT”. The transfer agent and registrar for our common stock is TranShare
Securities Transfer and Registrar. 

 

Holders of shares of our Common Stock are entitled
to one vote for each share on all matters to be voted on by the shareholders. Except if a greater plurality is required by the express
requirements of law or our Articles of Incorporation, the affirmative vote of a majority of the shares of voting stock represented at
a meeting of shareholders at which there shall be a quorum present shall be required to authorize all matters to be voted upon by our
shareholders. According to our charter documents, holders of our Common Stock do not have preemptive rights and are not entitled
to cumulative voting rights.  There are no conversion or redemption rights or sinking funds provided for our shareholders.  Shares
of our Common Stock share ratably in dividends, if any, as may be declared from time to time by the board of directors in its discretion
from funds legally available for distribution as dividends.  In the event of our liquidation, dissolution or winding up, the
holders of our Common Stock are entitled to share pro rata all assets remaining after payment in full of all liabilities.  All
of the outstanding shares of our Common Stock are fully paid and non-assessable.

 

Anti-Takeover Effects
of Certain Provisions of Florida Law

 

As a Florida corporation, we are also subject
to certain provisions of the FCBA that have anti-takeover effects and may inhibit a non-negotiated merger or other business combination.
Our Articles of Incorporation and Bylaws also contain other provisions which could have anti-takeover effects. These provisions include,
without limitation, the authority of our Board of Directors to issue additional shares of preferred stock and to fix the relative rights
and preferences of the preferred stock without the need for any shareholder vote or approval, as discussed above, and advance notice procedures
to be complied with by our shareholders in order to make shareholder proposals or nominate directors.

 

In addition, the FBCA prohibits the voting of
shares in an “issuing public corporation” that are acquired in a “control share acquisition” unless the board
of directors of the corporation approves the control share acquisition before the acquisition or the holders of a majority of the corporation’s
voting shares (excluding shares held by officers of the corporation, inside directors of the corporation or the acquiring party) approve
the granting of voting rights as to the shares acquired in the control share acquisition. An “issuing public corporation”
is a corporation that has (i) 100 or more shareholders, (ii) its principal place of business, its principal office or substantial
assets in Florida and (iii) either more than 10% of its shareholders residing in Florida, more than 10% of its shares owned by Florida
residents or 1,000 shareholders residing in Florida “Control shares” are defined in the FBCA as shares acquired by a person,
either directly or indirectly, that when added to all other shares of the issuing corporation owned by that person, would entitle that
person to exercise, either directly or indirectly, voting power in the election of directors within any of the following ranges: (i) 20%
or more but less than 33% of all voting power of the corporation’s voting securities; (ii) 33% or more but less than a majority
of all voting power of the corporation’s voting securities; or (iii) a majority or more of all of the voting power of the corporation’s
voting securities. These provisions do not apply to shares acquired under, among other things, an agreement or plan of merger or share
exchange effected in compliance with the relevant provisions of the FBCA and to which the corporation is a party, or an acquisition of
shares previously approved by the board of directors of the corporation.

 

The FBCA also prohibits a publicly held Florida
corporation from engaging in a number of mergers, consolidations, dispositions of assets, or other business combinations or extraordinary
corporate transactions (each such transaction, an “affiliated transaction”) with an “interested shareholder” for
a period of three years following the time that such shareholder became an interested shareholder unless: (x) prior to such shareholder
becoming an interested shareholder, the board of directors of the corporation approved either the affiliated transaction or the transaction
which resulted in the shareholder becoming an interested shareholder; (y) upon consummation of the transaction that resulted in the shareholder
becoming an interested shareholder, the interested shareholder owned at least 85 percent of the outstanding voting shares of the corporation
(other than shares held by directors who are also officers and certain employee benefit plans); or (z) the affiliated transaction is approved
by the board of directors and authorized at an annual or special meeting of shareholders, and not by written consent, by the affirmative
vote of at least two thirds of the outstanding voting shares which are not owned by the interested shareholder. An “interested shareholder”
is any person who, together with such person’s affiliates and associates, beneficially owns 15% or more of the outstanding
voting stock of a corporation. The above approval is not required if (i) a majority of the disinterested directors has approved the
affiliated transaction, (ii) the corporation has not had more than 300 shareholders of record at any time during the three years
preceding the date of the transaction’s announcement, (iii) the interested shareholder has been the beneficial owner of at
least 80% of the corporation’s outstanding voting shares for at least three years preceding the date of the transaction’s
announcement, (iv) the interested shareholder is the beneficial owner of at least 90% of the outstanding voting shares of the corporation,
exclusive of shares acquired directly from the corporation in a transaction not approved by a majority of the disinterested directors,
(v) the corporation is an investment company registered under the Investment Company Act of 1940, or (vi) the consideration
that holders of each class or series of stock of the corporation will receive in the affiliated transaction meets certain minimum levels
determined by a formula under the FBCA.Exhibit 4.1

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE 

SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

As of December 31, 2021, The
Greenrose Holding Company Inc. (“we,” “our,” “us,” “Greenrose” or the “Company”)
had the following [four] classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”):

 

		(i)	units, consisting of one share of Common Stock (defined below) and one redeemable Public Warrant (the
“Public Warrants”), with each Public Warrant entitling the holder thereof to purchase one share of Common Stock (the “Units”),

 

		(ii)	shares of Common Stock of the Company, $0.0001 par value per share (the “Common Stock”),

 

		(iii)	callable public Public Warrants, with each Public Warrant exercisable for one share of Common Stock for
$11.50 per share (the “Public Warrants”), and

 

		(iv)	non-callable private Public Warrants, with each Public Warrant exercisable for one share of Common Stock
for $11.50 per share (the “Private Warrants” and together with the Public Warrants, the “Warrants”).

 

Pursuant to our Charter, the
total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 151,000,000 of which 150,000,000
shares shall be Common Stock of the par value of $0.0001 per share and 1,000,000 shares shall be Preferred Stock of the par value of $0.0001
per share.

 

The following description
summarizes the material terms of our capital stock and, as noted above, does not purport to be complete and is qualified in its entirety
by reference to our second amended and restated certificate of incorporation, as amended (the “Charter”), and our amended
and restated bylaws, as amended (the Bylaws”), both of which are incorporated by reference as exhibits to this Annual Report on
Form 10-K (the “Report”) of which this Exhibit is a part, and certain provisions of Delaware law.

 

Defined terms used herein
but not otherwise defined shall have the meaning ascribed to such terms in the Report.

 

Units

 

Each unit consists of one
share of Common Stock and one redeemable Public Warrant. Each Public Warrant entitles the holder thereof to purchase one share of Common
Stock exercisable at $11.50 per full share.

 

Common Stock

 

The Company’s authorized
capital stock consists of 150,000,000 shares of Common Stock, par value $0.0001 per share; and 1,000,000 shares of Preferred Stock,
par value $0.0001 per share.

 

Voting Rights

 

The Charter provides that,
subject to applicable law and the rights, if any, of the holders of any outstanding series of Preferred Stock, the holders of the outstanding
shares of Common Stock of the Company will vote together as a single class on all matters with respect to which stockholders of the Company
are entitled to vote under applicable law, the Charter or the Bylaws or upon which a vote of stockholders generally entitled to vote is
otherwise called for by the Company, except that, except as may otherwise be required by applicable law, each holder of Common Stock will
not be entitled to vote on any amendment to the Charter that relates solely to the terms of one or more outstanding series of Preferred
Stock if the holders of such affected series are entitled, either voting separately as a single class or together as a class with the
holders of any other outstanding series of Preferred Stock, to vote thereon pursuant to the Charter or the DGCL.

 

     

     

    

 

Dividends

 

We have not paid any cash
dividends on our shares of Common Stock to date and do not intend to pay cash dividends [for the foreseeable future]. The payment of cash
dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition
as a result of ongoing operations. The payment of any dividends at any time will be within the discretion of our then board of directors
(the “Board”). It is the present intention of the Board to retain all earnings, if any, for use in our business operations
and, accordingly, the Board does not anticipate declaring any dividends in the foreseeable future.

 

No Preemptive Rights

 

The Charter does not provide
the holders of Common Stock with preemptive rights.

 

Liquidation, Dissolution or Winding Up

 

The Charter provides that
upon the liquidation, dissolution or winding up of the Company (either voluntary or involuntary), the holders of Common Stock will be
entitled to share ratably in the assets and funds of the Company that are available for distribution to stockholders of the Company.

 

Preferred Stock

 

Our Charter provides that shares
of Preferred Stock may be issued from time to time in one or more series. Our Board is authorized to fix the voting rights, if any, designations,
powers, preferences and relative, participating, optional, special and other rights, if any, and any qualifications, limitations and restrictions
thereof, applicable to the shares of each series. Our Board is 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 our Board to issue Preferred Stock without stockholder approval could have the effect of delaying, deferring or
preventing a change of control of us or the removal of existing management. We have no Preferred Stock outstanding at the date hereof.
Although we do not currently intend to issue any shares of Preferred Stock, we cannot assure you that we will not do so in the future.

 

As of December 31, 2021, no
shares of Preferred Stock have been issued and there are no shares of Preferred Stock outstanding.

 

Public Warrants

 

Exercise

 

Each Public Warrant entitles the registered holder
to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment as discussed below. However, no Public Warrants
will be exercisable for cash unless we have an effective and current registration statement covering the shares of Common Stock issuable
upon exercise of the Public Warrants and a current prospectus relating to such shares of Common Stock. The Public Warrants would become
exercisable the later of twelve months from the date of the initial public offering, or February 20, 2021, and thirty days after the completion
of the Company’s initial business combination, which we call the Theraplant Merger. The Theraplant Merger was completed on November
26, 2021, and therefore the Public Warrants became exercisable on December 26, 2021 (the “Exercisable Date”). Notwithstanding
the foregoing, if a registration statement covering the shares of Common Stock issuable upon exercise of the Public Warrants is not effective
by the Exercisable Date, Public Warrant holders may, until such time as there is an effective registration statement and during any period
when we shall have failed to maintain an effective registration statement, exercise the Public Warrants on a cashless basis pursuant to
the exemption provided by Section 3(a)(9) of the Securities Act, provided that such exemption is available. If that exemption, or another
exemption, is not available, holders will not be able to exercise their Public Warrants on a cashless basis.

 

    2

     

    

 

In such event, each holder would pay the exercise
price by surrendering the Public Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the
product of the number of shares of Common Stock underlying the Public Warrants, multiplied by the difference between the exercise price
of the Public Warrants and the “fair market value” (defined below) by (y) the fair market value. The “fair market value”
for this purpose will mean the average reported last sale price of the shares of Common Stock for the five (5) trading days ending on
the trading day prior to the date of exercise. The Public Warrants will expire on November 26, 2026, the fifth anniversary of our completion
of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

Call/Redemption 

 

We may call the Public Warrants for redemption,
in whole and not in part, at a price of $0.01 per Public Warrants,

 

		●	at any time after the Public Warrants become exercisable,

 

		●	upon not less than 30 days’ prior written notice of redemption to each Public Warrant holder, if, and only if, the reported
last sale price of the shares of Common Stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations
and recapitalizations), for any 20 trading days within a 30 trading day period ending on the third business day prior to the notice of
redemption to Public Warrant holders; and

 

		●	if, and only if, there is a current registration statement in effect with respect to the shares of Common Stock underlying such Public
Warrants.

 

The right to exercise will be forfeited unless
the Public Warrants are exercised prior to the date specified in the notice of redemption. On and after the redemption date, a record
holder of a Public Warrantwill have no further rights except to receive the redemption price for such holder’s Public Warrant upon
surrender of such Public Warrant.

 

The redemption criteria for our Public Warrant
have been established at a price which is intended to provide Public Warrant holders a reasonable premium to the initial exercise price
and provide a sufficient differential between the then-prevailing share price and the Public Warrant exercise price so that if the share
price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the
Public Warrant.

 

If we call the Public Warrants for redemption as
described above, our management will have the option to require all holders that wish to exercise Public Warrants to do so on a “cashless
basis.” In such event, each holder would pay the exercise price by surrendering the Public Warrants for that number of shares of
Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Public
Warrants, multiplied by the difference between the exercise price of the Public Warrants and the “fair market value” (defined
below) by (y) the fair market value. The “fair market value” shall mean the average reported last sale price of the shares
of Common Stock for the 5 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to
the holders of Public Warrants.

 

The Public Warrants were issued in registered form
under a Public Warrant agreement between Continental Stock Transfer & Trust Company, as Public Warrant agent, and us. The Public Warrant
agreement provides that the terms of the Public Warrants may be amended without the consent of any holder to cure any ambiguity or correct
any defective provision, but requires the approval, by written consent or vote, of the holders of at least 50% of the then outstanding
Public Warrants in order to make any change that adversely affects the interests of the registered holders.

 

    3

     

    

 

The exercise price and number of shares of Common
Stock issuable on exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a stock dividend,
extraordinary dividend or our recapitalization, reorganization, merger or consolidation. However, the Public Warrants will not be adjusted
for issuances of shares of Common Stock at a price below their respective exercise prices.

 

The Public Warrants may be exercised upon surrender
of the Public Warrant certificate on or prior to the expiration date at the offices of the Public Warrant agent, with the exercise form
on the reverse side of the Public Warrant certificate completed and executed as indicated, accompanied by full payment of the exercise
price, by certified or official bank check payable to us, for the number of Public Warrants being exercised. The Public Warrant holders
do not have the rights or privileges of holders of shares of Common Stock and any voting rights until they exercise their Public Warrants
and receive shares of Common Stock. After the issuance of shares of Common Stock upon exercise of the Public Warrants, each holder will
be entitled to one vote for each share held of record on all matters to be voted on by stockholders.

 

Under the terms of the warrant agreement, we have
agreed to use our best efforts to have declared effective a prospectus relating to the shares of Common Stock issuable upon exercise of
the Public Warrants and keep such prospectus current until the expiration of the Public Warrants. However, we cannot assure you that we
will be able to do so and, if we do not maintain a current prospectus relating to the shares of Common Stock issuable upon exercise of
the Public Warrants, holders will be unable to exercise their Public Warrants for cash and we will not be required to net cash settle
or cash settle the Public Warrant exercise.

 

Public Warrant holders may elect to be subject
to a restriction on the exercise of their Public Warrants such that an electing Public Warrant holder would not be able to exercise their
Public Warrants to the extent that, after giving effect to such exercise, such holder would beneficially own in excess of 9.8% of the
shares of Common Stock outstanding.

 

No fractional shares will be issued upon exercise
of the Public Warrants. If, upon exercise of the Public Warrants, a holder would be entitled to receive a fractional interest in a share,
we will, upon exercise, round up to the nearest whole number the number of shares of Common Stock to be issued to the Public Warrant holder.

 

Private Warrants

 

The Private Warrants, as well as any warrants underlying
additional units we issue to Greenrose Associates, LLC, our sponsor, or our officers, directors or their affiliates in payment of working
capital loans made to us, will be identical to the Public Warrants underlying the Units except that (i) such Private Warrants will be
exercisable for cash or on a cashless basis, at the holder’s option, and (ii) will not be redeemable by us, in each case so long
as they are still held by our sponsor or its permitted transferees.

 

Accounting Treatment

 

Due to certain provisions contained in our warrant
agreement, both the Public Warrants and the Private Warrants will be treated as a derivative liability and we will be required to record
the fair value of each Warrant as a liability in accordance with the guidance contained in ASC 815-40. As a result, each quarter, we will
be required to determine the fair value of each Warrant and record the change on the value of the Warrants from the prior quarter as a
gain or a loss on our income statement, which will change the value of the liability for the Warrants on our balance sheet.

 

Transfer Agent and Warrant Agent

 

As of December 31, 2021, the transfer agent for
our common stock and warrant agent for our warrants was Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental
Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders, directors,
officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity,
except for any liability due to any gross negligence, willful misconduct or bad faith of the indemnified person or entity.

 

In February 2022, Greenrose
engaged Odyssey Trust Company as its transfer agent. Continental Stock Transfer & Trust Company continues to serve as our warrant
agent.

 

    4

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