EX-4.1 2 ex41_1.htm AMENDMENT NO. 1

Exhibit 4.1     

AUTOSCOPE TECHNOLOGIES CORPORATION

and

CONTINENTAL STOCK TRANSFER & TRUST COMPANY

as Rights Agent

FIRST AMENDMENT

TO

AMENDED AND RESTATED RIGHTS AGREEMENT

This First Amendment to Amended and Restated Rights Agreement (the “Amendment”) is between Autoscope Technologies Corporation, a Minnesota corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York limited‑purpose trust company, as rights agent (the “Rights Agent”), and shall be effective as the 1st day of March, 2022.

WHEREAS, the Company, the Rights Agent, and, only with respect to Section 37 thereof, Image Sensing Systems, Inc.., executed and entered into that certain Amended and Restated Rights Agreement dated as of July 21, 2021 (the “Rights Agreement”);

WHEREAS, Section 28 of the Rights Agreement provides that the Company may, and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the Rights Agreement without the approval of any holders of the Rights; 

WHEREAS, the Company has determined that it is necessary or desirable, in the interests of the Company, its shareholders, and the holders of the Rights, to amend the Rights Agreement as provided in this Amendment; and

1

 

WHEREAS, all acts and things necessary to make this Amendment a valid agreement according to its terms have been done and performed, and the execution and delivery of this Amendment by the Company and the Rights Agent have been in all respects authorized by the Company and the Rights Agent.

NOW, THEREFORE, in consideration of the foregoing and mutual agreements set forth herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, and intending to be legally bound, the Company and the Rights Agent agree as follows:

1.                   Amendments; Shareholder Approval.  Section 1(o) of the Rights Agreement is hereby amended and restated in its entirety as follows:

(o)              “Final Expiration Date” means the date upon which the Rights expire and will be 6:00 p.m., Eastern Time, on June 4, 2024.

This Amendment will be of no force or effect if it is not approved by the Company's shareholders before 6:00 p.m., Eastern Time, on June 4, 2022.

2.                   Capitalized Terms. Capitalized terms used but not defined in this Amendment shall have the respective meanings given to them in the Rights Agreement.

3.                  Effect of Amendment. It is the intent of the Company and the Rights Agent that this Amendment constitutes an amendment of the Rights Agreement as contemplated by Section 28 thereof.  Except as expressly provided in this Amendment, the terms of the Rights Agreement remain in full force and effect.  Unless the context clearly provides otherwise, any reference to this “Agreement” or the “Rights Agreement” shall be deemed to be a reference to the Rights Agreement as amended hereby and by the First Amendment and the Second Amendment.

4.                   Benefits of this Amendment. Nothing in this Amendment shall be construed to give to any Person other than the Company, the Rights Agent and the registered holders of the Rights Certificates (and, prior to the Distribution Date, the Common Shares) any legal or equitable right, remedy or claim under this Amendment; and this Amendment shall be for the sole and exclusive benefit of the Company, the Rights Agent and the registered holders of the Rights Certificates (and, prior to the Distribution Date, the Common Shares).

 

2

 

5.                   Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

6.                   Governing Law. This Amendment shall be deemed to be a contract made under the laws of the State of New York (other than its conflicts of law provisions) and shall be governed by and construed in accordance with the laws of such State applicable to contracts made and performed entirely within such State.

7.                   Counterparts. This Amendment may be executed in any number of counterparts, and each of such counterpart shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.  A signature to this Amendment transmitted electronically shall have the same authority, effect and enforceability as an original signature.

8.                   Descriptive Headings. Descriptive headings of the several Sections of this Amendment are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

[Signature page follows.]

3

 

 [Signature Page to First Amendment to Amended and Restated Rights Agreement

Dated as of March 1, 2022
by and between Autoscope Technologies Corporation and
Continental Stock Transfer & Trust Company] 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written. 

Attest:

 

By        /s/ Taylor W. Watters                            

Name:  Taylor W. Watters

Title:  Corporate Controller

 

 

Autoscope Technologies Corporation

 

By:       /s/ Frank G. Hallowell                       

Name: Frank G. Hallowell

Title: Chief Financial Officer

Attest:

 

By:       /s/ Elizabeth Pinto                              

Name:  Elizabeth Pinto

Title: Vice President

Continental Stock Transfer & Trust Company:

 

By:       /s/ Stacy Aqui                                   

Name: Stacy Aqui

Title: Vice President

 

 

[Signature Page to First Amendment to Amended and Restated Rights Agreement.]


4