FORM OF SHAREHOLDER PROTECTION RIGHTS AGREEMENT dated as of between TORO CORP. and BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., as Rights AgentShareholder Protection Rights Agreement • December 1st, 2022 • Toro Corp. • Deep sea foreign transportation of freight • New York
This certifies that ____________________, or registered assigns, is the registered holder of the number of Rights set forth above, each of which entitles the registered holder thereof, subject to the terms, provisions and conditions of the Shareholder Protection Rights Agreement, dated as of ___________, ____ (as amended from time to time, the “Rights Agreement”), between Toro Corp., a Marshall Islands corporation (the “Company”), and Broadridge Corporate Issuer Solutions, Inc., a _______________, as Rights Agent (the “Rights Agent”, which term shall include any successor Rights Agent under the Rights Agreement), to purchase from the Company at any time after the Separation Time (as such term is defined in the Rights Agreement) and prior to the Expiration Time (as such term is defined in the Rights Agreement), one one-thousandth of a fully paid Participating Preferred Share, par value $0.001 per share (the “Preferred Shares”), of the Company (subject to adjustment as provided in the Ri
