Common use of RESTRICTED INVESTORS; RESTRICTIONS ON ISSUANCE AND TRANSFER Clause in Contracts

RESTRICTED INVESTORS; RESTRICTIONS ON ISSUANCE AND TRANSFER. In order to preserve the rights of Turning Point Brands, Inc. (“Turning Point”) or any Article XI Subsidiary (as hereinafter defined) to distribute certain products pursuant to the Distribution Agreements (as hereinafter defined), Restricted Investors (as hereinafter defined) shall not own (whether of record or beneficially) more than the Permitted Percentage of any class of capital stock of the Corporation at any time outstanding, and the provisions contained in this Article XI shall apply to the extent necessary to prevent the loss by Turning Point or any Article XI Subsidiary of such rights. The Board of Directors (or any duly constituted committee thereof) is specifically authorized to make all such reasonable determinations as shall be necessary to implement the provisions of this Article XI set forth below.

RESTRICTED INVESTORS; RESTRICTIONS ON ISSUANCE AND TRANSFER. In order to preserve the rights of Turning Point Brands, Inc. (“Turning Point”) or any Article XI X Subsidiary (as hereinafter defined) to distribute certain products pursuant to the Distribution Agreements (as hereinafter defined), Restricted Investors (as hereinafter defined) shall not own (whether of record or beneficially) more than the Permitted Percentage of any class of capital stock of the Corporation at any time outstanding, and the provisions contained in this Article XI X shall apply to the extent necessary to prevent the loss by Turning Point or any Article XI X Subsidiary of such rights. The Board of Directors (or any duly constituted committee thereof) is specifically authorized to make all such reasonable determinations as shall be necessary to implement the provisions of this Article XI X set forth below.