Document:

EXHIBIT
4.1

 

ONE
WORLD PHARMA, INC.

DESCRIPTION OF SECURITIES REGISTERED UNDER SECTION 12 OF THE EXCHANGE ACT

 

The
following is a brief description of shares of common stock (“common stock”) of One World Pharma, Inc. (the “Company,”
“we,” “us,” or “our”). The brief description is based upon our Articles of Incorporation,
including the Certificate of Amendment to our Articles of Incorporation, (as amended, our “Articles of Incorporation”),
our Bylaws (our “Bylaws”), and provisions of applicable Nevada law. This summary does not purport to be complete and
is subject to, and qualified in its entirety by, the full text of our Articles of Incorporation and Bylaws, each of which is incorporated
by reference as an exhibit to our Annual Report on Form 10-K.

 

General

 

Our
Articles of Incorporation authorizes us to issue up to 310,000,000 shares of capital stock, consisting 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, of which 44,804,305
shares of common stock and no shares of preferred stock were issued and outstanding as of December 31, 2019. Our Articles of Incorporation
authorizes our Board of Directors (our “Board”) to determine, at any time and from time to time, the number of authorized
shares, as described below.

 

Common
Stock

 

Dividend
Rights

 

Subject
to preferences that may apply to shares of preferred stock outstanding at the time, the holders of outstanding shares of our Common
Stock are entitled to receive dividends out of funds legally available at the times and in the amounts that our board of directors
may determine.

 

Voting
Rights

 

Each
holder of our Common Stock is entitled to one vote for each share of our Common Stock held on all matters submitted to a vote
of stockholders. Cumulative voting for the election of directors is not provided for in our articles of incorporation, as amended,
which means that the holders of a majority of the voting shares voted can elect all of the directors then standing for election.

 

No
Preemptive or Similar Rights

 

Holders
of our Common Stock do not have preemptive rights, and our Common Stock is not convertible or redeemable.

 

Right
to Receive Liquidation Distributions

 

Upon
our dissolution, liquidation or winding-up, the assets legally available for distribution to our stockholders are distributable
ratably among the holders of our Common Stock, subject to the preferential rights and payment of liquidation preferences, if any,
on any outstanding shares of preferred stock.

 

Preferred
Stock

 

The
shares of preferred stock may be issued in series, and shall have such voting powers, full or limited, or no voting powers, and
such designations, preferences and relative participating, optional or other special rights, and qualifications, limitations or
restrictions thereof, as shall be stated and expressed in the resolution or resolutions providing for the issuance of such stock
adopted from time to time by the Board. The Board is expressly vested with the authority to determine and fix in the resolution
or resolutions providing for the issuances of preferred stock the voting powers, designations, preferences and rights, and the
qualifications, limitations or restrictions thereof, of each such series to the full extent now or hereafter permitted by the
laws of the State of Nevada.

 

Anti-takeover
Provisions

 

Certain
provisions of our articles of incorporation, as amended, and Nevada law may have the effect of delaying, deferring or discouraging
another person from acquiring control of our company.

 

    	 	1	 

     

    

 

Nevada
Law

 

In
addition, Nevada has enacted the following legislation that may deter or frustrate takeovers of Nevada corporations:

 

Authorized
but Unissued Stock – The authorized but unissued shares of our Common Stock are available for future issuance without
stockholder approval. These additional shares may be used for a variety of corporate purposes, including future public offerings
to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares
of common stock may enable our board of directors to issue shares of stock to persons friendly to existing management.

 

Evaluation
of Acquisition Proposals – The Nevada Revised Statutes expressly permit our board of directors, when evaluating any
proposed tender or exchange offer, any merger, consolidation or sale of substantially all of our assets, or any similar extraordinary
transaction, to consider all relevant factors including, without limitation, the social, legal, and economic effects on our employees,
customers, suppliers, and other relevant interest holders, and on the communities and geographical areas in which they operate.
Our board of directors may also consider the amount of consideration being offered in relation to the then current market price
of our outstanding shares of capital stock and our then current value in a freely negotiated transaction.

 

Control
Share Acquisitions – Nevada has adopted a control share acquisitions statute designed to afford stockholders of public
corporations in Nevada protection against acquisitions in which a person, entity or group seeks to gain voting control. With enumerated
exceptions, the statute provides that shares acquired within certain specific ranges will not possess voting rights in the election
of directors unless the voting rights are approved by a majority vote of the public corporation’s disinterested stockholders.
Disinterested shares are shares other than those owned by the acquiring person or by a member of a group with respect to a control
share acquisition, or by any officer of the corporation or any employee of the corporation who is also a director. The specific
acquisition ranges that trigger the statute are: acquisitions of shares possessing one-fifth or more but less than one-third of
all voting power; acquisitions of shares possessing one-third or more but less than a majority of all voting power; or acquisitions
of shares possessing a majority or more of all voting power. Under certain circumstances, the statute permits the acquiring person
to call a special stockholders’ meeting for the purpose of considering the grant of voting rights to the holder of the control
shares. The statute also enables a corporation to provide for the redemption of control shares with no voting rights under certain
circumstances.

 

Transfer
Agent and Registrar

 

The
transfer agent and registrar for our Common Stock is vStock Transfer, LLC. Its mailing address is 18 Lafayette Place, Woodmere,
NY 11598, its telephone number is (212) 828-8436, and its facsimile number is (646) 536-3179.

 

    	 	2Exhibit 10.1

 

INDUSTRIAL LOGISTICS PROPERTIES TRUST

 

Summary of Trustee Compensation

 

The following is a summary of the currently effective compensation
of the Trustees of Industrial Logistics Properties Trust (the “Company”) for services as Trustees, which is subject
to modification at any time by the Board of Trustees (the “Board”) or the Compensation Committee of the Board, as applicable:

 

		·	Each Independent Trustee receives an annual fee of $75,000 for services as a Trustee. The annual fee for any new Independent
Trustee is prorated for the initial year.

 

		·	Each Independent Trustee who serves as a committee chair of the Board’s Audit Committee, Compensation Committee or Nominating
and Governance Committee receives an additional annual fee of $17,500, $12,500 and $12,500, respectively. The committee chair fee
for any new committee chair is prorated for the initial year.

 

		·	The Lead Independent Trustee receives an additional annual cash retainer fee of $15,000 for serving in this role.

 

		·	Each Trustee receives a grant of 3,500 of the Company’s common shares of beneficial interest on the date of the first
Board meeting following each annual meeting of shareholders (or, for Trustees who are first elected or appointed at other times,
on the day of the first Board meeting attended).

 

		·	The Company generally reimburses all Trustees for travel expenses incurred in connection with their duties as Trustees and
for out of pocket costs incurred in connection with their attending certain continuing education programs.ex_188467.htm

Exhibit 4.2

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

REGISTERED PURSUANT TO SECTION 12

OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

 

 

As of December 31, 2019, Twinlab Consolidated Holdings, Inc. (the “Company,” “Twinlab,” “Registrant,” “we,” “us,” or “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock.

 

The following is a description of the material terms of our common stock and preferred stock as set forth in our Articles of Incorporation as amended by the Certificate of Amendment to the Articles of Incorporation and the Certificate of Change (collectively, the “Articles of Incorporation”), our Bylaws (the “Bylaws”), which govern the rights of our common stock and preferred stock. This description is only a summary. You should read it together with the Articles of Incorporation and Bylaws, which are included as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and incorporated by reference herein.

 

DESCRIPTION OF SECURITIES

Common Stock

 

Our Articles of Incorporation authorizes the issuance of 5,000,000,000 shares of common stock, $0.001 par value per share, 392,057,164 shares were outstanding as of May 29, 2020. Holders of shares of common stock are entitled to one vote for each share on all matters to be voted on by the stockholders. Holders of common stock have no cumulative voting rights, but are entitled to one vote for each shares of common stock they hold. Holders of shares of common stock are entitled to 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 to be distributed. In the event of a liquidation, dissolution or winding up of the Company, the holders of shares of common stock are entitled to share pro rata all assets remaining after payment in full of all liabilities and the prior payment to the preferred stockholders if any. Holders of common stock have no preemptive rights to purchase our common stock. There are no conversion rights or redemption or sinking fund provisions with respect to the common stock.

 

Preferred Stock

 

Our Articles of Incorporation authorize the issuance of 500,000,000 shares of preferred stock, $0.001 par value per share, of which no shares were outstanding as of May 15, 2020. The preferred stock may be issued from time to time by the Board of Directors as shares of one or more classes or series.

 

 

 

 

Our board of directors, subject to the provisions of our Articles of Incorporation and limitations imposed by law, is authorized to:

	 	
			●

				
			adopt resolutions;

			

	 	
			●

				
			to issue the shares;

			

	 	
			●

				
			to fix the number of shares;

			

	 	
			●

				
			to change the number of shares constituting any series; and

			

	 	
			●

				
			to provide for or change the following:

			

	 	
			o

				
			the voting powers;

			

	 	
			o

				
			designations;

			

	 	
			o

				
			preferences; and

			

	 	
			o

				
			relative, participating, optional or other special rights, qualifications, limitations or restrictions, including the following:

			

	 	
			■

				
			dividend rights (including whether dividends are cumulative);

			

	 	
			■

				
			dividend rates;

			

	 	
			■

				
			terms of redemption (including sinking fund provisions);

			

	 	
			■

				
			redemption prices;

			

	 	
			■

				
			conversion rights; and

			

	 	
			■

				
			liquidation preferences of the shares constituting any class or series of the preferred stock.

			

 

In each of the listed cases, we will not need any further action or vote by the stockholders.

 

One of the effects of undesignated preferred stock may be to enable the Board of Directors to render more difficult or to discourage an attempt to obtain control of us by means of a tender offer, proxy contest, merger or otherwise, and thereby to protect the continuity of our management. The issuance of shares of preferred stock pursuant to the Board of Director’s authority described above may adversely affect the rights of holders of common stock. For example, preferred stock issued by us may rank prior to the common stock as to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible into shares of common stock. Accordingly, the issuance of shares of preferred stock may discourage bids for the common stock at a premium or may otherwise adversely affect the market price of the common stock.

 

Nevada Laws

 

The Nevada Business Corporation Law contains a provision governing “Acquisition of Controlling Interest.” This law provides generally that any person or entity that acquires 20% or more of the outstanding voting shares of a publicly-held Nevada corporation in the secondary public or private market may be denied voting rights with respect to the acquired shares, unless a majority of the disinterested stockholders of the corporation elects to restore such voting rights in whole or in part. The control share acquisition act provides that a person or entity acquires “control shares” whenever it acquires shares that, but for the operation of the control share acquisition act, would bring its voting power within any of the following three ranges:

 

	 	
			●

				
			20 to 33%

			

	 	
			●

				
			33% to 50%

			

	 	
			●

				
			more than 50%.

			

 

 

 

 

A “control share acquisition” is generally defined as the direct or indirect acquisition of either ownership or voting power associated with issued and outstanding control shares. The stockholders or board of directors of a corporation may elect to exempt the stock of the corporation from the provisions of the control share acquisition act through adoption of a provision to that effect in the articles of incorporation or bylaws of the corporation. Our articles of incorporation and bylaws do exempt our common stock from the control share acquisition act.

 

Similarly, the Nevada Business Corporation Law contains provisions governing "Combinations with Interested Stockholders." These statutes provide that specified types of business "combinations" between certain Nevada corporations and any person deemed to be an "interested stockholder" of the corporation are prohibited for two years after such person first becomes an "interested stockholder" unless the corporation's board of directors approves the combination (or the transaction by which such person becomes an "interested stockholder") in advance, or unless the combination is approved by the board of directors and sixty percent of the corporation's voting power not beneficially owned by the interested stockholder, its affiliates and associates. Furthermore, in the absence of prior approval certain restrictions may apply even after such two-year period. For purposes of these statutes, an "interested stockholder" is any person who is (1) the beneficial owner, directly or indirectly, of 10% or more of the voting power of the outstanding voting shares of the corporation, or (2) an affiliate or associate of the corporation and at any time within the two previous years was the beneficial owner, directly or indirectly, of 10% or more of the voting power of the then-outstanding shares of the corporation. The definition of the term "combination" is sufficiently broad to cover most significant transactions between a corporation and an "interested stockholder". These statutes generally apply to Nevada corporations with 200 or more stockholders of record. Our articles of incorporation and bylaws include a provision electing that our company not be governed by the provisions of the "Combination with Interested Stockholder" statutes.

 

 

Listing

 

Our common stock is traded in the OTC Markets PK (OTCPK), under the symbol "TLCC". We have been eligible to participate in the OTCPK since June 25, 2014 and from that time until the date of this filing our common stock has had only minimal trading. Over-the-counter market quotations of our common stock reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.

 

Transfer Agent

 

The transfer agent for the common stock is West Coast Stock Transfer, 721 N. Vulcan Ave., First Floor, Encinitas, CA 92024.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]