UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (Date of Earliest Event Reported):
November 14, 2017
ENOVA INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware |
1-35503 |
45-3190813 |
(State or other jurisdiction of incorporation) |
(Commission File No.) |
(IRS Employer Identification No.) |
175 West Jackson Boulevard
Chicago, Illinois 60604
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (312) 568-4200
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 5 .0 3 AMENDMENT TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR
On November 14, 2017, the Board of Directors of Enova International, Inc. (the “Company”) approved an amendment and restatement of the Company’s Amended and Restated Bylaws (the “Bylaws”), changing Article 1, Section 1.1 of the Bylaws to replace the Company’s registered agent and registered office in Delaware. Additionally, on November 14, 2017, the Board of Directors of the Company also approved the amendment and restatement of the Company’s Amended and Restated Certificate of Incorporation (the “Charter”) amending Article II to replace the Company’s registered agent and registered office in Delaware.
The foregoing description is qualified in its entirety by reference to the Bylaws filed as Exhibit 3.1 hereto and the Charter filed as Exhibit 3.2 hereto, both of which are incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
The following exhibits are furnished as part of this Report on Form 8-K:
Exhibit No. |
Description |
Enova International, Inc. Amended and Restated Certificate of Incorporation |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ENOVA INTERNATIONAL, INC. |
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Date: November 17 , 2017 |
By: |
/s/ Lisa M. Young |
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Lisa M. Young |
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Vice President—General Counsel & |
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Secretary |
Exhibit 3.1
A M EN D ED A ND RE S TAT E D BYLAWS
ENOVA INT E R N ATI O N A L, IN C .
AR T I C L E 1
O F F I C ES
S ec tion 1.1. R e g is t e r e d O f fi ce . The re g ist e r e d o f fi c e of Eno v a I nt e rn a tion a l, I n c . (t h e “ Co r por a t i on ” ) in the State of D e law a re shall be a t 1209 Orange Street, Wilmington, Coun t y of New Castle , D e l a ware 19801, a nd the re g ist e r e d a g e nt in c h a r g e th e r e of shall b e Corporation Trust Center. T h e re g ist e r e d o f f i c e a nd/or re g is t e r e d a g e nt o f the Co r p o r a tion m a y be c h a n g e d f r om time to time b y ac tion of t h e B o a rd of Dire c tors of the Co r p o r a tion (the “ B o a rd of Dir e c tors ”).
S ec tion 1.2. Oth e r O f fi c e s . The Co r por a tion m a y a lso h a ve a n o f fi c e or o f f ic e s, a nd ke e p the books a nd re c o r ds of the Co r por a tion, e x ce pt a s m a y othe r wise be requir e d b y la w , a t s u c h other place o r pl a ce s, e ith e r within or without t h e State o f D e la w ar e , a s t he B o a rd of Dir e c t o rs m a y from time to time d e te r mine or the busin e ss o f the Co r por a tion m a y requir e .
AR T I C L E 2
MEE T I N G S OF S TOC K H O L DERS
S ec tion 2.1. Annu a l M ee t i n g s . An a nn u a l me e t ing of st o c kholde r s s h a ll be h e ld for the e le c tion of di r ec tors a nd to tr a nsa c t s u c h other b usiness a s m a y p r o p e r l y be b r o u g ht befo r e t h e me e tin g . E ac h a nnu a l me e ting o f stockholders shall be h e ld a t such pla ce , e ith e r within or without the State of D e l a w a r e , on such d a te a nd a t such t i me a s d e t e rmin e d f r om time to time b y the B o a rd o f Dir ec tors (or the Ch a irman in t h e a bsen c e of a d e s i g n a tion b y t h e B oard of Dir e c tors). The B o a rd of Dir e c t o rs m a y , in its s o le disc re tion, d e te r mine that the m e e ting shall not be h e ld a t a n y pl a c e a nd ins t ea d shall be h e ld sole l y b y m e a ns of r e mote c ommunic a tion a s a uthoriz e d b y the G e n e r a l Co r por a tion L a w of t he State of D e l a w a re ( “ D e la w a re L aw ” ). A n y p re vious l y s c h e duled me e ting of stockholders m a y b e postpon e d , r e sch e duled or ca n ce led b y ac tion of the B oard of D ir ec tors. T h e a nnu a l m e eting of stockhold e rs sha l l be h e ld a s c lose l y a s p rac ti ca b l e to the s a me month of eac h y e a r so as to e nsure that the te r ms of o f fi c e of dir ec t o rs shall a pproxim a te a c ompl e te y e a r in l e n g th.
S ec tion 2.2. S p ec ial Me e t i n g s . E x ce pt a s othe r w i se r e quir e d b y law o r the te r ms of a n y o n e or more s e ri e s of p re fer re d stock, spe c ial me e t in g s of the stockhold e rs m a y b e ca ll e d b y a majo r i t y of the B oard of Dir e c tors, t h e Ch a irman of the B oard of Dire c tor s , the Chief E x ec utive O f fi c er, the Pr e sident o r the S ec r e t a r y of the Co r por a tion a nd m a y not b e ca ll e d b y a n y other p e rson.
S ec tion 2.3. Notic e .
( a ) Tim i n g . W h e n e v e r stockhold e rs a re r e qui r e d or p e rmit t e d to take ac t i on a t a me e t i n g , w r i t ten not i c e o f eac h a nn u a l a nd spe c ial me e t ing of stockhold e rs stating the d a te, t i me a nd pla c e of the me e t i n g , the me a ns of r e mo t e c om m unic a t i on, if a n y , b y whi c h stockhold e rs
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m a y be d ee med to be p re s e nt a t the me e t i ng a nd, i n the ca se of a s p ec ial m ee t i n g , the p u rpose or purp o s e s for whi c h the m e e t i ng is ca l l e d, shall be g iven to e a c h stockhold e r of re c o r d e nt i t l e d to vote the r e a t not less than ten (10) nor more t h a n six t y (60) d a y s b e fo r e t h e d a te o f the m e e t i n g , e x ce pt a s othe r wise p r o vided h e r e in o r r e qui r e d b y D e la w a re L a w. B us i n e ss tr a nsa c t e d a t a n y spe c ial me e t i n g of sto c k h olde r s shall be li m i t e d to t he pur p oses stat e d in t he not i ce .
(b) F o r m o f Notice . A l l such not i ce s shall be d e l i v e r e d in w r i t i n g or b y a fo r m of e le c tronic tr a nsm i ss i on in acc o r d a n c e with these B y l a ws a nd D e l a w a r e L a w. I f mailed, such not i c e shall be d ee med to be d e l i v e r e d wh e n d e posited in the United S tat e s mail, post a g e p re p a id, a d d r e ssed to the stockhold e r a t hi s , h e r o r i t s a ddr e ss a s the s a me a pp ea rs on the r ec o rds of the Co r por a t i on. I f g i v e n b y f ac si m i l e tel ec o m mun i ca t i on, such not i c e shall be d ee med to be d e l i v e r e d wh e n dir e c ted to a number a t whi c h the stockhold e r h a s c onse n t e d to r e ce ive not i c e b y f a c si m i l e . I f g iven b y e l e c tronic tr a nsm i ss i on, su c h not i c e shall be d e e med to be d e l i v e r e d: ( i ) b y e le c tronic mail, w h e n d ir ec ted to a n e l e c tronic mail a dd r e ss a t whi c h the stockhold e r h a s c onse n ted to r e c e ive not i ce ; (ii) if b y a posti n g o n a n e l e c tronic n e twork to g e th e r with s e p a r a te not i c e to the stockhold e r of such sp e c ific posti n g, upon the lat e r o f ( x ) such posting a nd ( y ) the g iv i n g of s u c h s e p a r a t e n ot i c e b y United S tat e s mail or f ac si m i l e tr a nsm i ss i on; a nd (iii) if b y a n y other fo r m of e le c tronic tr a nsm i ss i on, wh e n di r ec ted to t h e stockhold e r if re ce ipt th e r e of h a s b ee n c onse n t e d to b y the stockhold e rs. An a f f i d a vit of the s ec r e t a r y o r a n a ss i stant s ec r e ta r y o f the Co r por a t i on, the tr a n sf e r a g e nt of the Co r porat i on or a n y other a g e nt o f the Co r por a t i on that the not i c e h a s b e e n g iv e n shall, in the a b s e n c e of f r a ud, be p r i m a f a c ie e viden c e of the f ac ts stat e d the re in.
( c ) W a iver o f Notice . W h e n e v e r not i c e is r e qui r e d to be g iven und e r a n y p rovisions of D e la w a re L a w, the C e rtifi ca te of I n c o r po r a t i on of the Co r por a t i on, a s a mend e d a nd r e stat e d (t h e “ C e rtifi ca te of I n c o r po r a t i o n ” ), or t h e se B y l a ws, a w r i t ten w a iv e r t h e r e o f , si g n e d b y the stockhold e r e nt i t l e d to n ot i ce , or a w a iver b y e l e c tronic tr a nsm i ss i on b y t he stockhold e r e nt i t l e d to not i ce , wh e t h e r b e fo r e or a ft e r the t i me stat e d the re in, s h a ll be d ee m e d e quival e nt to not ic e . N e i t h e r the busin e ss to be tr a nsa c ted a t, nor the purp o se o f , a n y m ee t i n g of the stockhold e rs of the Co r por a t i on n e e d be spe c ified in a n y w a iv e r of not i c e o f such m e e t i n g . Attend a n c e o f a p e rson a t a me e t i n g shall c onsti t ute a w a iver of n ot i c e of such me e t i n g , e x ce pt wh e n the p e rson a t t e nds for the e x p re ss p u r pose of obje c t i n g a t t h e b e g inn i ng of t h e me e t i ng to the tr a ns a c t i on of a n y busi n e ss be c a use the me e t i ng is not l a w f ul l y c a l l e d or c onv e n e d.
S ec tion 2.4. Quo r u m . E x ce pt a s othe r wi s e provided b y la w , b y the C e rtifi ca te o f I n c o r por a tion of the C o rpo ra tio n , b y the rul e s of a n y stock e x c h a nge or n a tion a l s ec u rities ma r k e t on whi c h the Corpor a tion’s s ec u r ities a re listed or these B y la w s , t h e holde r s of a majo r i t y of the stock issu e d a nd o utst a nding a nd e ntitl e d t o vote ther ea t, pr e s e nt in p e rson or r e p r e s e n t e d b y p ro x y , shall c onstitute a qu o rum a t a ll m e e tin g s of the stockholders for the t r a nsa c tion o f busin e ss. I f, how e v e r, such quor u m shall not b e p re s e nt or r e p re s e nted a t a n y m e e ting of the stockhold e rs, the Ch a ir m a n of the B o a rd of Dire c tors shall h a ve power t o a djourn the m e e ting f r om time to time, without noti c e other than a nn o un ce ment a t the me e ti n g, until a quor u m shall be p re s e nt o r r e p r e s e nt e d. At such a djourn e d m ee ting a t whi c h a qu o rum shall be p re s e nt or r e p re s e nted, a n y busin e s s m a y be tr a n s ac ted which mi g ht h a ve b ee n tr a n s a c ted a t the m ee ting a s o r i g inal l y notifi e d. I f t h e a djournm e nt is for more than thir t y d a y s, or if a fter the a djournm e nt a n e w r e c o rd d a te is fi x e d for the a djourn e d me e tin g , a noti c e of the a djo u rn e d me e ting shall be g iven to e ac h stockholder of re c o r d e ntitl e d to vote a t the me e ti n g . Wh e n a s e p a r a te vote b y a c lass or s e ri e s (if t h e C o rpo ra tion’s s h a r e s shall t h e n h a v e outst a ndi n g s h a r e s o f mo r e than one
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c lass or s e ri e s vot i n g a s a c lass or s e r i e s), the ho l d e rs of a majo r i t y of the vot i ng pow e r o f such c lass or s e ri e s shall c onsti t ute a quor u m a s to such c lass or s e ri e s with r e s p ec t to such tr a nsa c t i on or busin e ss.
S ec tion 2.5. Votin g .
( a ) G e n e r a l . Unl e ss ot h e r w ise p rovid e d in the C e rtifi ca te o f I n c o r po r a t i on a nd subj e c t to D e la w a re L a w a nd the r ules of a n y stock e x c h a n g e or n a t i on a l s e c u r i t i e s ma r k e t on whi c h the Co r por a t i on’s stock is l i s te d , eac h stockhold e r sh a ll be e nt i t l e d to one vote for eac h outs t a ndi n g sha r e of ca pi t a l stock o f the Co r por a t i on h e ld b y such stockhold e r. A n y s h a re of ca pi t a l stock o f the Co r por a t i on h e ld b y the Co r por a t i on s h a ll h a ve no vot i n g r i g hts ot h e r than sh a r e s h e ld in a fidu c ia r y ca p a c i t y . E x ce pt a s oth e r w ise p rovid e d b y D e la w a re L a w , the C e rtifi c a te o f I n c o r po r a t i on or the s e B y l a ws in a ll matte r s other than the e le c t i on of dir ec tors a nd wh e n a quor u m is p re s e n t , the a f f irmative vote o f the majo r i t y of the s h a r e s o f ca pi t a l stock of the Co r por a t i on p re s e nt in p e rson or r e p re s e nted b y p r o x y a t the me e t i n g a nd e nt i t l e d to vote on t h e subj ec t m a t t e r sh a ll be t h e ac t of the st o c kholde r s.
(b) R e qui r e d Vote for D ir ec tor s . S ubj e c t to the r i g hts of the holde r s o f a n y c l a ss or s e ri e s of p re f e r r e d stock to e le c t a ddi t ional dir ec tors und e r spe c ific c ir c ums t a n ce s a s s e t fo r th in the C e rtifi ca te o f I n c o r po r a t ion or c e rtifi ca t e of d e s i g n a t i on r e lati n g to a n y s u c h c lass or s e ri e s o f p re fer re d st o c k, e a c h di r ec tor to be e le c ted b y s t o c kholde r s shall be e le c t e d b y t h e vote of the majo r i t y o f the votes ca st a t a n y me e t i n g for t h e e le c t i on of dir ec tors a t whi c h a quor u m i s p re s e nt. F or p u rpos e s of th i s S ec t i on 2.5, a majo r it y of votes c a st shall m e a n that the num b e r of sha re s voted “ fo r ” a dir e c tor ' s e le c t i on e x cee ds 5 0% of the number of vo t e s ca st with r e sp e c t to that dir ec to r ' s e l e c t i on. Vo t e s ca st shall include votes to withho l d a ut h o r i t y in e a c h ca se a nd e x c lude a bstentions with r e spe c t to t h a t dir ec t o r ' s e le c t i on. Notwithstanding the fo re g oin g , in the e v e nt of a c ontested e l e c t i on of dir ec tors, dir ec t o r s shall be e le c ted b y the vote of a p lur a l i t y of the votes ca st a t a n y m ee t i ng f o r the e le c t i on o f dir ec tors a t whi c h a q uorum is p re s e nt. F or purp o s e s of these B y la w s, a c ontested e l e c t i on shall me a n a n y e l e c t i on of dir ec tors in whi c h the number of c a ndidat e s for e le c t i on a s dire c tors e x c ee d s the number o f di r e c tors to be e le c t e d.
( c ) R e s i g n a t i o n . I f a n o m i n e e for dir e c tor who is a n incumb e nt dir ec t o r i s not e le c t e d b y a majo r i t y of votes c a st in a n e le c t i on of dir e c tors that is not c ontested ( a s that te r m is d e fin e d in S ec t i on 2.5( b )) a nd no suc c e ssor h a s b ee n e l e c t e d a t such me e t i n g , the d ir ec tor shall p r omp t l y tend e r his or h e r r e si g n a t i on to the B o a rd of Dir e c tors a ft e r the ce rtifi c a t i on of the e le c t i on r e sul t s, subj ec t to the a c ce ptan c e of t h e B o a rd o f Dire c tor s . The B o a rd of Dire c to r s will then d e te r m i n e , in a c c o r d a n c e with p r o ce du r e s e stabli s h e d b y t h e B o a rd of Dire c tors, or a c om m i t tee d e si g n a t e d b y the B o a rd of Di r ec tors, w h e ther to ac c e pt or r e j e c t the resi g n a t i on or take a n y other ac t i on with i n 90 d a y s f r om the d a t e of t h e c e rti f ic a t i on of the e l e c t i on r e sul t s a nd will publ i c l y disclose i t s d e c is i on. I f s u c h incumb e n t dir ec to r ' s r e s i g n a t i on is not acce p t e d b y the B o a rd o f Dire c tors, such dir ec tor shall c ont i nue t o s e rve unt i l the n e x t a nnu a l me e t i ng a nd unt i l his or h e r succ e ssor is du l y e l e c ted, or his or h e r ea rli e r r e s i g n a t i on or r e moval. I f a di r ec to r 's r e si g n a t i on is acce pted by t h e B o a rd of Dir e c tors pursu a nt to th i s S ec t i on 2.5( c ), or if a nom i n e e for dir ec tor is not e le c t e d a nd the nom i n e e is not a n incumb e nt dir ec tor, th e n the B o a rd of Dir e c tors, in i t s sole d i s c r e t i on, m a y fill a n y r e s ul t ing v aca n c y purs u a nt to the p r ovi s ions of S ec t i on 3.13 or m a y d ec r e a se the si z e o f the B o a rd of Dire c tors p u rsu a n t to the p r ovis i ons of S ec t i on 3.2 of these B y l a w s , subj ec t to the rul e s o f a n y stock e x c h a n g e or n a t i on a l s ec u r i t ies ma r k e t on whi c h the C o rpo ra t i on’s stock is l i st e d . I f, in a n y e l e c t i on of dir ec tors that is not
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c ontested ( a s that te r m i s d e fin e d in S ec t i on 2.5 ( b ) ) , e v e r y dir e c tor nom i n e e for e le c t i on to the B o a rd o f Dire c to r s is not e le c ted b y a m a jori t y of the votes ca st, such dir e c tors a re not r e quir e d to submit a r e si g n a t i on in acc o r d a n c e h e r e with a nd shall c ont i nue to hold o f fi c e unt i l their suc c e ssors a re e l e c ted, whi c h shall be a s soon t h e r e a ft e r a s c on v e ni e nt a t a sp ec ial me e t i n g o f stockholde r s c a l l e d in a c c o r d a n c e with t h e se B y l a ws f or such pur p o s e s .
(d) P r o x ies . E ac h stoc k holder e nt i t l e d to vote a t a m e e t i ng o f stockhold e rs m a y a uth o ri z e a nother p e rson or p e rso n s to ac t for such stockho l d e r b y p r o x y , but no su c h p r o x y s h a ll be voted or ac ted upon a ft e r thr e e (3) y e a rs f r om i t s d a te, unless the p r o x y p r ovides for a longer p e riod. A du l y e x ec uted p r o x y sha l l be ir re v o ca ble if it stat e s that it is ir re vo c a ble a n d if, a nd on l y a s lo n g a s, it is c oupled with a n in t e r e st suf f ici e nt in l a w to support a n ir re v o ca ble pow e r. A p r o x y m a y be made ir re v o ca ble re g a rdl e ss of wh e t h e r the i n te re st with wh i c h it is c o upled is a n in te r e st in the stock i t s e lf or a n i n te re st in the Co r por a t i on g e n e r a l l y . At eac h me e t i n g of the stockhold e rs, a nd b e fo r e a n y vot i n g c o m m e n ce s, a ll p r o x ies filed a t or b e fo r e the me e t i n g shall be submi t ted to a nd e x a m i n e d b y the s e c r e ta r y , the ins p ec tor of e le c t i on or a p e rson d e s i gn a ted b y the s e c r e t a r y or the inspe c tor of e le c t i on, a nd no sha re s m a y b e r e p re s e nted or voted und e r a p r o x y that h a s b ee n fo u nd to be inv a l i d or ir r e g ul a r.
S ec tion 2.6. A c t i ons b y W ritten Conse n t of S t o c kholde r s . E x ce pt a s ot h e r w ise e x p re ss l y p r ovided b y the t e rms of a n y s e ri e s of pr e fer re d stock p e rmitting the holde r s of such s e r i e s of p re fer re d stock to ac t b y w r itten c on s e nt, a n y a c tion r e quir e d or permitt e d to be tak e n a t a n y a nnu a l or s p ec ial m e e ting o f stockhold e rs m a y be tak e n on l y upon the vote of stockholders a t a n a nnu a l or spe c ial me e t i ng du l y noti ce d a nd c all e d in acc o r d a n c e with D e la w are L aw these B y l a ws a nd the C e rtif i ca te of I n c o r p o r a tion and m a y not b e tak e n b y w ritten c onse n t of stockhold e rs w ithout a m ee tin g .
S ec tion 2.7. Nomination of Dir e c tor s . On l y p e rs o ns who a re nomin a ted in acc o r d a nce with the p r o ce d u r e s set forth in these B y l a ws shall be eli g ible to s e rve a s dir ec t o rs of the Co r por a tion. Nominations of p e rsons for e l e c tion to the B o a rd of Dir e c tors o f the Corpor a tion a t a n a nn u a l me e ting or spe c ial me e t i ng (but on l y if the e le c tion of dir ec tors is a matter spe c ified in the noti c e of me e ting g iven b y or a t the dir ec tion of the B o a rd of Dir e c tors or a n y other p r op e r p e rson ca lling the spe c ial me e t i n g ) m a y b e made ( a ) b y or a t the dir ec tion of t h e B oard of Dire c tors, including a n y c ommittee a ppoint e d b y the B o a rd of Dir e c tors, or (b) b y a n y stockhold e r o f the Co r por a tion who is a stockhold e r of r e c o rd a t the time of g ivi n g of noti c e p r ovided for in this S ec tion 2.7, who shall b e e ntitl e d to vote for the e le c tion o f dire c tors a t the me e ti n g and who c omplies with the noti c e p r o ce dur e s s e t forth in this S ec tion 2.7. Su c h nomin a tions, other than those made b y or a t the dir ec tion of the B o a rd of Dire c tors, shall be m a de purs u a nt to time l y noti c e in w r iti n g to the S ec r e t a r y o f the Co r p o r a t i on. To be time l y , a stoc k hol d e r ’ s notice re lati n g to nomin a tions to be m a de a t a n a nnu a l me e ting of stockhold e rs shall be d e liv e r e d to or mailed a nd re ce ived a t the p r inc i p a l e x ec utive o f fic e s of t he Co r por a tion not less t h a n s e v e n t y (70) d a y s nor more than one hund re d (100) d a y s p r i o r to the fi r st a nnive r s a r y of the p rece di n g y e ar ’ s a nnu a l me e ting of stoc k holde r s; provid e d, howe ve r , that in the e v e nt that the d a te of the a nnu a l me e ting is a d v a n ce d m o re than thir t y (30) d a y s p r ior to such a nnive r s a ry d a t e or d e l a y e d more than si x t y ( 6 0 ) d a y s a fter such a nniv e rs a r y d a te t h e n to be tim e l y such noti c e must be re ce ived b y the Co r por a tion on or befo r e t h e la t e r o f (i) s e v e n t y (70) d a y s p r ior to the d a te of the me e ti n g or (ii) the tenth (10 th ) d a y following the d a y on w hich public a nnounc e m e n t of the d a te of the me e ting w a s ma d e . To b e time l y , a stockholder ’ s noti c e r e lating to nomin a tions to be made a t a spe c ial me e ti n g of stoc k holde r s shall be d e liv e r e d to or mailed a nd r e c e ived a t the p rin c ipal
4
o f fi ce s of the Co r por a t i on not less th a n s e v e n t y (70) d a y s nor more than one hund re d (100) d a y s p r i o r to the d a te of s u c h sp e c ial me e t i n g , o r, if the fi r st publ i c a nnoun ce m e nt of the d a te of such spe c ial m e e t i ng is less than e i g h t y (80) d a y s p r ior to the d a te of such spe c ial me e t i n g , the tenth (10 th ) d a y following the d a y on whi c h publ i c a nnoun c e ment of the d a te of the spe c ial me e t i n g w a s m a d e . I n no e v e nt shall a n y a djournm e nt or post p on e ment of a n a nnu a l me e t i ng o r sp e c ial me e t i ng o r the a nnoun ce m e nt the re of c om m e n c e a n e w t i me p e riod f o r t he g iv i n g of a stockhol d e r ’ s not i ce . To be in prop e r f o rm, su c h sto c kholde r ’s n ot i c e shall set fo r th:
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(a) |
a s to eac h p e rson wh o m the stockhold e r p r o p oses to nom i n a te for e l ec t i on or r e e l e c t i on a s a di r ec tor a ll info r mation r e lati n g to such p e rson that is r e q u ir e d to be disclosed in sol i c i t a t i ons of p r o x ies for e le c t i on of dir ec tors, or is othe r wise r e quir e d, in eac h ca se p u rsu a nt to R e g ulation 14A und e r the S ec u r i t ies E x c h a n g e A c t of 1934 (the “ E x c h a nge A c t”) (in c lud i n g such p e rson ’ s w r i t ten c onse n t to b e ing n a m e d in the p r oxy stat e ment a s a nom i n e e a nd to s e rving a s a dir ec tor if e le c ted ) ; a nd |
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(b) |
a s to t he stockholder g iv i ng the noti c e : |
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(i) |
the n a me a nd a d d r e ss of such stockhold e r, a s th e y a pp e a r on the Co r por a t i on’s books, a n d a n y S tockhol d e r As s o c i a ted P e rson ( d e fin e d b e low) c ov e r e d b y c lause ( i i ) b e low; |
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(ii) |
( A ) the c lass a nd numb e r of sha re s or ot h e r s ec u rities of the Co r por a t i on whi c h a re h e ld of re c o r d or a re b e n e fi c ial l y ow n e d, dir e c t l y or ind ir ec t l y , b y such stockhold e r o r b y a n y S tockhold e r A ssoci a ted P e rson a nd, if a ppl i ca ble, ( B ) a d e s c r i pt i on of ( x ) a n y p r o x y , c ontr ac t, a r r a n g e ment, und e rst a ndi n g or r e l a t i onship pursu a nt to whi c h the stockhold e r or a n y S tockhold e r Asso c iat e d P e rson h a s a r i g ht to v ote a n y s ec u rities of the Co r por a t i on, a nd ( y ) a n y a g re e ment, a r r a n g e ment or und e rst a ndi n g (in c lud i ng a n y d e riv a t i ve or short posit i ons, sw a ps, p r o f it in t e r e st s , opt i ons, h e d g ing t r a nsact i ons, a nd bor r ow e d or loan e d sha re s ) that h a s b ee n e nte r e d in t o a s of t h e d a te of the stockhold e r ’ s not i c e b y , or on b e h a lf o f , the stockhold e r or a n y S tockhold e r Asso c i a ted P e rson, the e f fe c t or in t e nt of whi c h is to m i t i g a t e loss to, ma n a g e risk or b e n e fit o f sh a re p ri c e c h a n g e s fo r , o r inc r ea se or d e c r e a s e the vot i n g p o w e r of the stockhold e r or a n y S tockhold e r A ssoci a ted P e rson with r e spe c t to a n y s ec u r i t ies of the Co r por a t i on; and |
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(iii) |
a r e p re s e ntation that the stockhold e r will p r omp t l y not if y the Co r por a t i on in w r i t ing of a n y c h a n ge in the info r mation s e t f o r th in such not i c e a s of the re c o r d d a te for the m e e t i ng a nd a s o f e i g ht (8) busin e ss d a y s p r ior to such me e t i n g . |
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To be e l i g ib l e to be a n o m i n e e for e le c t i on or r e e l ec t i on a s a d i r e c tor of the Co r por a t i on, the p e rson nom i n a ted b y t he stockhold e r must d e l i v e r (in a c c o r d a n c e with the t i me p e riods p re s c rib e d for d e l i v e r y of not i c e for a n a nn u a l or sp e c ial m e e t i n g , a s a ppl i ca ble, un d e r th i s S ec t i on 2.7) to the S ec r e ta r y of t h e Co r por a t i on a t the p r incip a l e x ec ut i ve o f fi ce s o f the Co r por a t i on a w r i t ten qu e st i onn a ire with r e spect to the b ac k g round a nd qu a l i fi c a t i on of such
5
p e rson a nd the b ac k g r o u nd of a n y other p e rson or e nt i t y on who s e b e h a lf t he nom i n a t i on is b e ing made ( w hich qu e st i onn a i re shall be in the fo r m p r ovided b y t h e S ec r e t a r y upon w r i t ten r e qu e st) a nd a w r i t ten r e p r e s e nta t ion a nd a g re e ment (in t h e f o r m p r ovided b y t h e S ec r e t a r y upon w r i t ten r e qu e st) that such p e r s on (i) is not a nd w i ll not b ec ome a p a r t y to ( A ) a n y a g r ee ment, a r ra n g e ment or und e rst a nding with, a nd h a s not g i v e n a n y c om m i t ment or a ss u r a n c e to, a n y p e rson or e nt i t y a s to h o w such p e rs o n, if e le c t e d a s a dir ec tor of the Co r p o r a t i on, will ac t or vote on a n y is s ue or q u e st i on (a “ Voting Com m i t men t ” ) that h a s not b ee n disclosed to t h e Co r por a t i on or ( B ) a n y Voting Com m i t ment that c ould l i m i t or in t e r fe r e with such p e rson ’ s a bi l i t y to c omp l y , if e le c ted a s a dir ec tor of the Co r por a t i on, with such p e r son’s fidu c ia r y dut i e s und e r a ppl ic a ble l a w, (i i ) is not a nd will not b e c ome a p a r t y to a n y a g r e e ment, a r r a n g e m e nt or und e rst a ndi n g with a n y p e rson or e nt i t y other t h a n the Co r p o r a t i on with r e spe c t to a n y dir e c t or ind i r e c t c ompens a t i on, re i m burs e ment or indemni f ic a t i on in c onn ec t i on wi t h s e rvi c e o r a c t i on a s a dir e c tor of the Co r p o r a t i on that h a s not b ee n disclosed the r e in, a nd (iii) in such p e rso n ’s ind i vidual ca p ac i t y a nd on b e h a lf of a n y p e rson or e nt i t y on whose b e h a lf the nom i n a t i on is b e ing ma d e , would be in c omp l ian ce , if e l ec ted a s a dir ec tor o f the Co r porat i on, a nd will c omp l y with, a ppl i ca ble law a nd a ll a ppl i ca ble publ i c l y disclosed c o r po r a te gov e rn a n c e , c onfli c t of in t e r e st, c o r p o r a te o pp o r tun i t i e s, c onfid e nt i a l i t y a nd stock ow n e rship a n d tr a ding pol i c ies a nd g uidelines of t h e Co r porat i on.
No p e rson s h a ll be e l i g i ble to s e rve a s a dir ec t o r of the Co r p o r a t i on un l e ss nom i n a ted in acc o r d a n c e with t he p roc e dur e s s e t fo r th i n th i s Se c t i on 2.7. The c h a irman of the m e e t i ng s h a l l , if the f a c ts w a r r a nt, d e t e r m i ne a nd d ec l a re to the me e t i ng t h a t a nom i n a t i on w a s not made in acc o r d a n c e with the p r o ce dur e s p r e s c rib e d b y t h is S ec t i on 2.7, a nd if the c h a irman should so d e te r m i n e , the c h a irman shall so d ec l a re to the me e t i ng a nd the d e fe c t i ve nom i n a t i on shall be disr e g a rd e d. Notwithsta n ding the fo r e g oi n g p rovisions of th i s S ec t i on 2.7, a stockhold e r shall a lso c omp l y with a ll a p p l i ca ble r e qu i r e ments of the E x c h a n g e A c t, a nd t h e rul e s a nd re g ulations th e r e und e r w i t h r e sp e c t t o the m a t t e rs s e t fo r th i n th i s S ec t i on 2.7.
For p u rposes of these B y l aws, “ S tockhold e r As s o c iat e d P e rso n ” of a n y s tockholder m e ans ( a ) a n y p erson or ent i t y act i ng in conc e rt with such stockholder, ( b ) a n y be n eficial o wner o f shares of stock of the Corpor a t i on owned of r ecord or be n eficial l y b y such stockholder and ( c ) a n y p erson or ent i ty controlli n g , controll e d b y or un d er com m o n control with such S tockholder Associated P erson.
For purposes of these B y l aws, “publ i c annou n cement” shall be dee m ed to include a disclosure made in a pr e s s relea s e rep o rted b y the Dow J ones News Servi c e s, Associated P r e ss or a comp a r a ble nat i onal n e ws servi c e or in a docu m ent filed b y t h e Corpo r at i on with the Se curi t ies and E x change Com m is s i on pursuant to S ect i on 13, 14 or 15(d) of the E x change Act.
S ec tion 2.8. Notice of B usines s . At a n y me e ti n g of the stockhold e rs, on l y s u c h busin e ss shall be c ondu c t e d a s s h a ll h a ve b ee n p r o p e r l y b r o u g ht b e fore the m e e ting ( a ) b y o r a t the dir ec tion of the B oard of Dir e c tors or (b) b y a n y stockhold e r of the Co r por a tion who is a stockhold e r of r ec o r d a t the time of g ivi n g of t h e noti c e p r ovided for in this S ec tion 2.8, who shall be e ntitl e d to vote at such me e ti n g a nd who c omplies with the noti c e p r o ce dur e s s e t fo r th in this S ec tion 2.8. F or b usiness to be p r op e r l y b r ou g ht b e fore a stockhold e r me e ting b y a stockhold e r, the stockhold e r must h a ve g iven time l y noti c e th e r e of in w r i t ing to the S ec r e t a r y of the Co r por a tion a nd such busin e ss must othe r wi s e be a p rop e r matter for stockhold e r a c tion. To be time l y , a stockhol d e r’s noti c e r e lati n g to bu s iness p r opos e d to b e c o ndu c ted a t a n a nnu a l
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me e t i ng of stockhold e rs shall be d e l i v e r e d to or mailed a nd r e ce ived a t t he p r incip a l e x ec ut i ve o f fi ce s of the Co r por a t i o n not less th a n s e v e n t y ( 70) d a y s nor more than one hund re d (100) d a y s p r ior to the fi r st a nnive r s a r y of the p r e ce di n g y e a r ’ s a nnu a l m ee t i n g of s tockhold e rs; provid e d, howe ve r , that in the e v e nt that the d a te of the a nnu a l me e t i ng is a dv a n ce d more than th i r t y (30) d a y s p r ior to s u c h a nnive r s a r y d a te o r d e l a y e d mo r e than si xt y (60) d a y s a ft e r s u c h a nnive r s a r y d a te then to be t i me l y s u c h not i c e must be re ce ived b y the Co r por a t i on on or b e fo r e the lat e r of (i) s e v e n t y (70) d a y s p r ior to the d a te of the me e t i n g or ( i i) the t e nth (10 th ) d a y following the d a y on w h ich publ i c a nnou n ce me n t of the d a te of the m e e t ing w a s ma d e . To b e t i me l y , a stockhold e r ’ s not i c e of busin e ss p r o p osed to be c ondu c ted a t a sp e c ial m e e t i ng o f stockhold e rs shall be d e l i v e r e d to or mailed a nd r e ce ived a t the p r incip a l e x ec ut i ve o f fi ce s of the Co r por a t i on not less th a n s e v e n t y (70) d a y s nor more than one hund re d (100) d a y s p r ior to the d a te of such s p ec ial m e e t i n g , o r , if t h e fi r st p u bl i c a nnoun ce ment of t h e d a te of s u c h spe c ial me e t i ng is l e ss t h a n e i g h t y (8 0 ) d a y s pri o r to the d a te of such spe c ial m ee t i n g , the t e nth (1 0 th ) d a y following the d a y on wh i c h publ i c a nnoun ce ment of the d a te of the spe c ial me e t i ng w a s mad e . I n no e v e nt shall a n y a dj o u r nment or postpon e ment of the me e t i ng or the a nnoun ce ment t h e r e of c om m e n c e a n e w t i me p e riod for the g iv i n g o f a stockhold e r ’ s not i ce . To be in p rop e r fo r m, a stockhold e r ’ s not i c e to the S ec r e ta r y s h a ll s e t fo r t h a s to e ac h matt e r the s t o c kholder p r opo s e s to b r ing b e fo r e t h e me e t i n g :
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(a) |
a b r i e f d e s c ription of t h e busin e ss d e si r e d to b e b r ou g ht b e fo r e the me e t i n g , t h e r e a sons for c ond u c t i ng s u c h busin e ss a t the me e t i ng a nd the c omp l e te te x t of the p r opos a l or business ( in c lud i ng a n y pro p o s e d r e s o lu t ions); |
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(b) |
the n a me a nd a ddr e ss o f the stockhold e r p roposing s u c h busin e ss, a s th e y a pp e a r on the Co r por a t i on’s books, a nd a n y S tockhold e r Asso c iat e d P e rson c o v e r e d b y c laus e s ( c ) or ( d ) b e low; |
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(c) |
(i) the c lass a nd numb e r of sha r e s or other s e c u r i t ies of the Co r po r a t i on w hich a r e h e ld of r ec o r d or a re b e n e f i c ial l y o wn e d, d ir ec t l y or ind ir ec t l y , b y s u c h stockhold e r or b y a n y S tockhold e r Asso c iat e d P e rson a nd, if a ppl ic a ble, (ii) a d e s c ription of ( x ) a n y p r o x y , c ontr a c t, a r r a n g e m e nt, und e rst a ndi n g or r e la t ionship pursu a nt to wh i c h the stockhold e r o r a n y S toc k holder As s o c i a ted Pe rson h a s a ri g ht to vo t e a n y s e c u r i t ies of the Co r porat i on, a nd ( y ) a n y a g r e e ment, a r ra n g e ment o r und e rst a nding (in c lud i ng a n y d e r ivative or sh o rt posit i ons, sw a ps, p r o f it in t e r e st s , opt i ons, h e d g i n g tr a ns a c t i ons, a nd bor r o w e d or loa n e d sh ar e s) t h a t h a s b ee n e nte r e d in t o a s of the d a te o f the stockh o lde r ’s not i c e b y , o r on b e h a lf o f , the stockhold e r o r a n y S tockhold e r Asso c iat e d P e rson, the e f f e c t or i n tent of whi c h is to m i t i g a te loss to, man a g e risk or b e n e f it of sha r e p r ice c h a n g e s fo r , or inc rea s e or d ec r ea se the vot i ng pow e r of the stockhold e r or a n y S toc k holder Asso c iat e d P e rson w i t h r e spe c t t o a n y s e c u r i t ies o f the Co r por a t i on; |
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a n y ma t e ri a l in t e r e st of t he stockhold e r or a n y S t o c kholder Asso c ia t e d Pe rson in such busin e ss; a nd |
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(e) |
a r e pr e s e ntation that t h e stockhold e r will p r omp t l y not i f y the Co r por a t i on in w r i t ing of a n y c h a n g e in the info r mation s e t fo r t h in such no t ice a s of t h e r e c o r d d a te f or the m ee t i n g a nd a s of e i g ht (8) busin e ss d a y s p rior to su c h me e t i n g. |
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Notwithstanding a n y t hi n g in the B y l a ws to the c ontr a r y , no busin e ss shall be c ondu c ted a t a stockhold e r me e t i n g e x ce pt in acc o r d a n c e with t h e p r o ce d u r e s s e t fo r th in th i s S ec t i on 2.8 (o r , if the e le c t i on of di r ec tors i s a matter spe c i fi e d in the not i c e of the m e e t i n g , t h e n a s for s u c h matte r , on l y in a c c o r d a n c e with the p r o ce du r e s s e t fo r th in S ec t i on 2.7). T h e c h a irman of the m ee t i n g shall, if the f a c ts w a r ra n t, d e te r m i ne a nd d ec la r e to the me e t i ng that bus i n e ss w a s not p r op e r l y b r ou g ht b e fo r e the m e e t ing a nd in a c c o r d a n c e w i th the p r ovis i ons of t he B y la w s, a nd if the c h a irman should so d e te r m i n e , the c h a irman s h a ll so d e c la r e to the me e t i ng a nd a n y s u c h busin e ss not p r op e r l y b r ou g ht b e f o re the me e t i n g shall not be tr a nsa c t e d . Notwithstanding the fo r e g oi n g p r ovis i ons of th i s S ec t i on 2.8, a sto c kholder shall a lso c om pl y with a ll a ppl i ca ble r e quir e ments o f the E x c h a nge A c t, a nd the rul e s a nd re g u l a t i ons the re u nd e r a nd tho s e of a n y stock e x c h a n g e or n a t i on a l s ec u r i t ies ma r k e t on w hich the Co r por a t i on’s s ec u r i t ies a re l i sted with re spe c t t o the m a t te rs s e t fo r th i n th i s S ec t i on 2.8.
S ec tion 2.9. Condu c t of M ee t i n g s .
(a) G e n e r a l l y . M ee t i n g s of sto c kholde r s shall be p re sided ov e r b y t h e Ch a irman of the B o a rd, if a n y , or in the Ch a irma n ’s a bse n c e or di s a bi l i t y b y the Chief E x e c u t i ve O f fi ce r, or in the Chief E x ec ut i ve O f fi ce r ’ s a bsen c e or disabili t y , b y t h e P r e sident, or in the P r e sident’s a bsence or disabili t y b y a Vi c e P r e s i d e nt, or in the a bsen c e or disabili t y of a ll of the fo r e g oing p e rsons b y a c h a irman d e s i g n a ted b y the B o a r d of Dir e c tor s . The S ec r e ta r y shall ac t a s s ec r e ta r y of the me e t i n g , but in the S ec r e ta r y ’s a bse n c e o r disab i l i t y the c h a irman of t h e me e t i ng m a y a ppoint a n y p e rson to a c t as s e c reta r y o f the m e e t i n g .
(b) Rules, R e g ulations a nd P ro c e dur e s . T h e B o a rd o f Dir e c t o rs may a dopt b y r e solu t ion such rul e s, regulations a nd p r o ce du r e s f or the c ondu c t of a n y m e e t i ng of stockhold e rs of the Co r por a t i on a s it s h a ll d ee m a ppro p ri a te i n c lud i n g , without l i m i tati o n, such g uidelines a nd p r o ce du r e s a s it m a y d ee m a ppro p ri a t e re g ar ding the p a rticip a t i on b y me a ns of r e mo t e c om m unic a t i on of stockhold e rs a nd p r o x y holde r s not p h y s i ca l l y p r e s e nt a t a me e t i n g . E x ce pt to the e x tent inconsis t e nt with a n y s u c h rul e s, re g u l a t i ons a nd p r o c e du r e s a s a dopted b y the B o a rd of Dire c tors, the c h a ir m a n of a n y m e e t i ng of st o c kholde r s shall h a ve t h e ri g ht a nd a uthori t y to p re s c ribe s u c h rul e s, regulations a nd p r o ce du r e s a nd to do a ll such ac ts a s, in the jud g ment of such c h a irma n , a re a p p r o p r iate f o r the p r o p e r c o n du c t of t h e m e e t i n g . S u c h rul e s, re g ulations or p r o ce du r e s, wh e t h e r a d o pted b y t h e B o a rd o f D ir ec tors or p re s c rib e d b y the c h a ir m a n of the me e t i n g , m a y inclu d e , without l i m i tation, the followin g : (i) the e stabli s hment of a n a g e n d a or o r d e r of busin e ss for the me e t i n g ; (ii) rul e s a nd p ro c edu r e s for maintaini n g o r d e r a t the me e t i n g a nd the s a f e t y of tho s e p r e s e nt; (iii) l i m i tations on a t t e nd a n c e a t or p a rticip a t i on in the me e t i ng to stockhold e rs of re c o r d of the Co r por a t i on, their du l y a uthori z e d a nd c ons t i t uted p r o x ies or such other p e rsons a s shall be d e te r m i n e d; (iv) r e str i c t i ons on e nt r y to the me e t i ng a f t e r the t i me fi x e d for the c om m e n ce m e nt the re o f ; a nd ( v ) l i m i tations on the t i me a l l ot t e d to qu e st i ons or c om m e nts b y p a rticip a nts. The c h a i rm a n of a n y m ee t i n g of s tockhold e rs shall h a ve the a uthori t y to a djourn or r e c e ss a n y such m ee t i n g . Unl e ss a nd to the e x tent d e te r m i n e d b y the B o a rd of Di r ec tors o r the c h a irman o f the m ee t i n g , me e t i n g s of stockhol d e r s shall not be r e quir e d to be h e ld in a c c o r d a n c e with the rul e s of p a rli a ment a r y p r o c e du r e . The c h a irman o f the m e e t i ng shall a nnoun c e a t the me e t i ng w h e n the pol l s for e a c h matter to be v oted upon a t the me e t i ng will be op e n e d a nd c losed. A f ter t h e pol l s c lose, no b a l l ots, p r o x ies or votes or a n y r e vo ca t i ons or c h a n g e s th e r e to m a y b e a c ce p ted.
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(c) I ns p ec tors o f El e c t i on s . I n a dv a n c e of a n y m ee t i n g of stock h olde r s, the Co r por a t i on shall a ppoint one (1) or mo r e inspe c t o r s of e le c t i on to a c t a t the me e t i n g a nd make a w r i t ten re p o rt th e r e o f . O ne ( 1 ) or mo r e oth e r p e r s ons m a y be d e s i g n a t e d a s a l t e r n a te insp e c tors to r e pla c e a n y insp e c tor who f a i l s to ac t. I f no inspe c tor or a l t e rn a te is p re s e n t, r e a d y a nd wil l ing to ac t a t a m e e t i ng o f sto c kholde r s, the c h a i rm a n of the me e t i n g shall a p point one (1) or mo r e inspe c tors to ac t a t the me e t i n g . Un l e ss othe r w i se r e qui r e d b y l a w, inspe c tors m a y b e o f fi ce r s , e mp l o y e e s or a g e nts of t he Co r por a t i on. E a c h i n spe c tor, b e fo r e e nte r i n g upon the disch a r ge of such inspe c to r ’s dut i e s, shall take a n d s i g n a n o a th f a i t h f ul l y to e x ec ute the dut i e s of insp e c tor with strict i m p a rtiali t y a nd acc o r di n g to the b e st of such inspe c tor ’ s a bi l i t y . The insp e c tor shall h a ve the dut i e s p re s c ri b e d b y law a nd shall ta k e c h a r ge of the pol l s a nd, wh e n the vote i s c omp l e ted, shall make a ce rtifi c a te of the r e sult of the vote t a k e n a nd of s u c h other f a c ts a s m a y be r e qui r e d b y la w . E v e r y vote ta k e n b y b a l l ots s h a ll be c ounted b y a du l y a ppoin t e d inspe c tor or du l y a ppoin t e d insp e c to r s.
S ec tion 2.10. L ist of S tockhold e r s . The o f fic e r who h a s c h a r g e of the stock ledg e r of the Co r por a tion shall p re p a re a nd mak e , a t le a st 10 da y s befo r e e ac h m e e ting of stockhold e rs, a c ompl e te list of the sto c kholde r s e ntitl e d to vote a t the me e ti n g , a rr a n g e d in a lphab e ti ca l o r d e r, showing the a ddr e ss of a nd the number of shares r eg ister e d in the n a me of eac h stockhold e r. Su c h list shall be op e n t o the e x a min a tion of a n y stockhol d e r, for a n y p u r pose g erm a ne to the me e tin g , duri n g o r dina r y busin e ss hours, for a p e riod of a t le a st 10 da y s p r ior to the me e tin g , e ith e r a t a place within the c i t y where the m e e ting is to be h e ld, whi c h pl a c e shall be s p ec ified in the noti c e o f the me e ti n g o r , if not so s p ec ified, a t the pl a c e wh e re the meeting is to b e h e ld. The list shall a lso be p r oduced a nd k e pt a t the time and pla c e of the m ee ting during the who l e time the re o f , a nd m a y be ins p ec ted b y a n y stockhol d e r who is pr e s e nt.
AR T I C L E3
D I RECTORS
S ec tion 3.1. G e n e r a l P ow e r s . The busin e ss a nd a f fa irs of the Co r por a tion shall be man a g e d b y or un d e r the dire c tion of the B oard of Dire c t o rs, whi c h m a y e x e r c ise all such pow e rs of the Co r por a tion a nd do a ll such la w ful a c ts a nd thin g s a s a re not b y law o r b y the C e rtif i ca te o f I n c o r por a tion or these B y l a ws di r ec ted o r re qui r ed to be e x e r c ised or done b y the stock h old e rs.
S ec tion 3.2. Numb e r o f Dire c tor s . E x ce pt a s otherwise fi x e d b y or pursu a nt to the p r ovisions of the C e rtifi ca te of I n c o r por a tion r e la t ing to the ri g hts of the holde r s of a n y c l a ss or s e ri e s of stock h a vi n g p r e f e r e nce over the c ommon stock a s to divid e nds o r upon liquidation, the number of dir ec to r s w hich shall c onstitute t h e e ntire B oard of Dir ec tors shall be fi x e d e x c lusiv e l y b y r e solution a dopted f r om time to t i me b y t h e a f f irmative v o te of a majo r i t y o f the B o a rd of D i r e c tors. No d ir ec tor ’ s t e rm shall b e s h o r ten e d b y r e a son of a resolution r e du c ing the number of di r e c tors.
S ec tion 3.3. Ele c t i on Qu a l i fi ca t i on a nd T e rm o f O f fi c e of D i r e c tor s . D ir ec tors shall be e le c ted a t e a c h a nn u a l me e ting o f stockhold e rs to hold o f fi c e until the n e x t a nnu a l me e tin g . Dir e c tors n ee d not be st o c kholde r s unless so r e qu i r e d b y the C e rtif i ca te of I n c o r por a tion or these B y l a ws, w h e r e in other q u a lifi ca tions for dire c tors m a y be p r e scrib e d. Each dir ec tor, includi n g a dir ec tor e le c ted to fill a v a c a n c y , s h a ll hold o f fice until his or h e r suc ce ssor is e le c t e d a nd qu a lifi e d or until his or h e r e a rlier d ea th, r e si g n a tion or r e moval. E l ec tions of dir ec tors n ee d not
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be b y w r i t ten b a l l ot.
S ec tion 3.4. R e g ul a r Me e t i n g s . The B o a rd o f Dire c tors s h a ll me e t for the e le c tion o f o f fi ce rs a nd for the t r a n s ac tion of a n y other busi n e ss a s s oon a s re a sona b l y p r a c tic a ble aft e r t h e a nnu a l me e ti n g o f stock h olde r s. Oth e r re g u l a r m e e tin g s o f the B oard of D i r e c tors m a y be h e ld a t such times a nd pla ce s a s the B o a rd o f Dire c tors m a y from time to time d e te r min e . No noti c e o f a n y s u c h a nn u a l or r e g u l a r me e ti n g of the B oard of Dir e c tors n ee d b e g iv e n.
S ec tion 3.5. S p ec ial M e e t i n g s . Spe c ial m e e tin g s of the B oard of Dire c to r s shall be ca ll e d b y the S e c r e t a r y or a n y Assistant S ec r e ta r y a t the re qu e st of t h e Ch a irman of the B o a rd, the Chi e f E x ec utive O f fi c er, the Pr e sident or of a n y two dir ec tors. Notice o f the time a nd pla c e o f a n y spe c ial me e ti n g of the Bo a rd of Dir ec tors shall b e mailed, posta g e pr e p a i d, to eac h di r ec tor a t le a st 48 hours b e fo r e the time a t whi c h the me e ting is to be h e ld, or shall be s e nt b y c onfi r m e d f a c simile tr a nsmission o r other fo r m o f e l e c tr o nic c ommunic a tion (including e - mail), or be d e liv e r e d person a l l y o r by tel e pho n e , a t le a st 24 hours b e fo r e the time a t whi c h such me e ting is to be h e ld. Notice of a n y s p ec ial me e ti n g n ee d not be g iven to a n y dire c tor who shall w a ive noti c e the re o f or shall be d ee m e d to h a v e w a ived such notic e . N e ither the busin e ss to b e tr a nsa c ted a t, nor the p u rpose o f , a n y spe c ial meeting ne e ds to be spe c if i ed in the noti ce , or a n y w a iver of n o tic e , of a n y s p ec ial me e ti n g .
S ec tion 3.6. Quo r um, Majo r i t y Vote . At a ll me e tin g s of the B oard of Dire c tors, a majo r i t y of the e ntire B o a rd o f D i r e c tors s h a ll c onstitute a quor u m for the tr a nsa c tion of busin e ss a nd the ac t of a m a jori t y o f the dir ec tors pr e s e nt a t a n y me e ting a t whi c h there i s a quor u m shall be the ac t of the B oard of Dir e ctors, e x ce pt as m a y be o t h e r w ise spe c ific a l l y provided b y D e law a re L aw or b y the C e rtific a te o f I n c o r por a tion. I f a quorum shall not be p re s e nt a t a n y m ee ti n g of the B o a rd of Dir ec tors, the dir ec tors p re s e nt ther ea t m a y a djourn the me e ting f r om time to time, without noti c e other than a nnoun ce ment a t the m e e tin g , until a quo r um shall be pr e s e nt.
S ec tion 3.7. A c t i on W i t hout Me e t i n g . A n y a c tion r e quir e d or p e rmitt e d to be tak e n a t a n y me e ting of the B o a rd of Dir e c tors or of a n y c ommittee the re of m a y be t a k e n without a me e tin g , if a ll memb e rs of the B o a rd of Dir e c t o rs or c o mmitte e , a s the ca se may b e , c onsent the re to in w r itin g , a nd the w r iting or w r itin g s a re filed with the minutes of the p r o c e e din g s of t h e B o a rd o f Dir e c tors or c ommitte e .
S ec tion 3.8. T e lephone a nd S i m i l a r Me e t i n g s . Memb e rs of the B o a rd o f Dir e c tors, or a n y c ommittee d e s i g n a ted b y the B o a rd of Dire c tors, m a y particip a te in a m e e ting o f the B o a rd of Dir e c tors, o r a n y c ommitte e , b y m ea ns of c onf e r e nce tel e pho n e or s i milar c ommunic a tions e quipm e nt b y me a ns o f whi c h a ll p e rsons p a rtic i p a ting in the me e ti n g c an h ea r e ac h othe r , a nd such p a rticip a tion in a m ee ting s h a ll c onstitute p re s e n c e in p e rson a t the m ee tin g .
S ec tion 3.9. W a iver of Notice a nd P r e sumpt i on of Ass e n t . A n y m e mb e r of the B o a rd of Dir e c tors o r a n y c ommittee ther e of who is p re s ent a t a m e e ting s h a ll be c on c lusiv e l y p re sumed to h a ve w a ived noti c e of such me e ting e x ce pt when such memb e r a tt e nds for the e x p r e ss purp o se of obje c ti n g a t t h e be g i nning of the m e e ting to the tr a nsa c tion of a n y busin e ss b eca u s e the me e ting is not la w ful l y ca ll e d or c onv e n e d. Such memb e r s h a ll be c onclusiv e l y pr e sumed to h a ve a ssent e d to a n y ac t i on tak e n unless his or h e r diss e nt sh a ll be e nte re d in the min u tes of the me e ting o r unless his or h e r w r itten diss e nt to s u ch ac tion shall be filed w i th the p e rson ac ti n g a s the s ec r e ta r y of the me e t ing befo r e the a djournm e nt the re o f or s h a ll be for wa rd e d b y re g ist e r e d mail
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to the S ec r e ta r y of t he Co r por a t i on i m medi a t e l y a ft e r t h e a djournm e nt of the me e t i n g . S u c h ri g ht t o dis s e nt shall not app l y to a n y m e mber w h o voted in fa vor o f s u c h a c t i on.
S ec tion 3.10. Rules a nd R e g u l a t i on s . The B oard of Dir ec tors m a y a d o pt such rul e s a nd re g ulations not inconsis te nt with the p r ovisions of la w , the C e rtifi ca te o f I n c o r por a tio n , these B y l a ws a nd the ru l e s of a n y stock e x c h a nge or n a tion a l s ec u r ities ma r k e t on whi c h the Co r por a tion’s s ec u r ities a re listed for the c ond u c t of its me e tin g s a nd ma n a g e ment o f the a ff a irs of the Corpo ra tion a s the B o a rd of D ire c tors m a y d ee m proper.
S ec tion 3.11. R e si g n a t i on s . Subje c t to S ec tion 2.5( c ), a n y dire c tor of t h e Co r por a tion m a y a t a n y time r e s i g n b y g i v ing w r itten noti c e to the B o a rd of Dir ec tors, the Ch a irman of the B o a rd of Dire c tors, t h e Chief Ex ec utive O f fic e r, t h e President or the S e cr e ta r y of the Co r por a tion. Su c h r e si g n a tion shall take e f fec t a t the time spe c ified the re in o r , if the t i me b e not spe c ified, upon r e ce ipt th e r e o f ; a nd, unl e ss othe r wise spe c i fied t h e r e in, the ac c e ptance of such r e s i g n a tion shall not be n ece s s a r y to m a ke it e f fec tiv e .
S ec tion 3.12. R e moval of Dire c tor s . Un l e ss oth e r w ise r e strict e d b y D e l aw a re L a w, b y the C e rtifi ca te of I n c o rpo ra t i on or b y these B y la w s, a n y di r ec tor or the e nti r e B o a rd of D i r ec tors m a y be r e mo v e d a t a me e t i ng o f stockhold e rs ca l l e d for such purp o s e in acc o rd a n c e with the C e rtifi ca te of I n c o r p o r a t i on, these B y l a ws a nd D e la wa re L a w.
S ec tion 3.13. V aca n c i e s . V aca n c ies on the Bo a rd of Dir ec tors r e sulting f r om d ea t h, r e si g n a tion, r e moval or othe r wise a nd n e w l y cre a ted dir ec torships r e sult i ng f r om a n in c r e a s e in the number of di r ec tors shall be filled sole l y b y a m a jori t y o f the d i r e c tors then in offi c e ( a lthou g h less than a q uorum) or b y the sole r e maining d i r e c tor in offi ce . I f t h e re a re no dir ec tors in offi ce , then a n e l e c tion of dire c tors m a y b e h e ld in a c c o r d a n c e with D e la w are L aw. Unl e ss othe r wise p r ovi d e d in the C e rtifi ca te of In c o r por a tion, wh e n o n e or more dir ec tors shall r e si g n f r om the B oard of Dir e c tors, e ff ec tive a t a futu r e d a te, a majo r i t y of the dir ec tors t h e n in o f fi ce , includi n g those who h a ve so r e si g n e d b ut whose r e si g n a tion h a s not b ec ome e f f e c tiv e , shall h a ve t h e po w e r to fill such v a c a n c y o r va c an c ies, the vo t e ther e on to take e ff ec t w h e n such re si g n a tion or r e si g n a tions shall b ec ome e f fec ti v e , a nd eac h dir ec tor so chosen shall hold o f fi c e a s provid e d in the f illing of the oth e r va ca n c ies.
S ec tion 3.14. Compen s a t i on of Dir e c tor s . Dire c tors shall r e ce i v e such c ompens a tion for their s e rvi ce s a s shall be fi x e d f r om time to time b y r e solution of the B oard of Dir e c tors. Nothing in this S ec tion 3.14 shall be c onstru e d to p r e c lu d e a dire c tor f r om servi n g t he Co r por a tion in a n y other ca p ac i t y a nd r ece i v ing c ompen s a tion the re for.
S ec tion 3.15. Ch a ir m a n of the B o a rd . T h e B o a rd of Dire c tors m a y d e s i g n a te f r om a mong its memb e rs a Ch a irman of the B oard of Dir ec tor s , whi c h p e rson m a y be an E x ec utive Ch a irman of the B o a rd of Dir ec to r s ( a s d e s c rib e d in S ec tion 5.5 of these B y l a ws ) . The Ch a irman of the B o a rd o f Dir ec tors shall p re side a t a ll me e tin g s of stockhold e rs a nd o f t he B o a rd of Dir e c t o rs, a nd shall a dvise a nd c o unsel the o f f i ce rs o f the Co r por a tion a nd s h a ll h a ve a nd p e rfo r m such duti e s a s usual l y d e volve upon his or h e r role a nd such other duti e s a s are p re s c rib e d b y these B y l a ws a nd b y t h e B o a rd of D ir ec tors.
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EX E CU T I VE A N D O T HER COM M I TTE E S
S ec tion 4.1. E x ec ut i ve Com m i t te e . The B oard of Dir e c tors m a y , b y r e solu t ion a dopted b y a majo r i t y of the e ntire B o a rd of Dire c tors, d e s i g nate a nnu a l l y o n e (1) o r m o r e of its memb e rs to c onstitute memb e rs or alt e rn a te members of a n e x ec utive c ommitte e , w hich c ommittee shall, e x ce pt a s othe r wise pr e s c rib e d b y D e la w are L a w , h a ve a nd m a y e x e r c ise, b e tw ee n m e e tin g s o f the B o a rd of Dire c tors, all the pow e rs a nd a uthori t y of the B oard of Dire c tors in the ma n a g e ment of the busin e ss and af fa i r s of the Co r por a tion.
S ec tion 4.2. Oth e r Com m i t te e s . The B o a rd of D ir ec tors m a y , b y r e solution a dopted b y a majo r i t y o f the e ntire B o a rd of Dir e c tors, d e s i g nate f r om a m o ng its memb e rs one or more other c ommitte e s, e a c h of wh i c h shall, e x ce pt a s oth e rwise p re s c rib e d b y D e l a w a re L a w or the ru l e s of a n y stock e x c h a nge o r nation a l s ec u r ities m a rk e t o n whi c h the Co r por a tion’s s ec u r ities a re liste d , h a ve s u c h a uth o ri t y of t h e Bo a rd of Dire c tors a s m a y be spe c ified in the r e solution of the B o a rd of Dir e c t o rs d e s i g n a ti n g such c ommitte e . Su c h c o mmittee or c ommitte e s shall have such n a me or n a mes a s m a y be d e t e rmin e d f r om time to time b y r e solution a dopted b y t he B o a rd of D i r e c tors. A majo r i t y o f a ll the memb e rs of such c ommittee m a y d e te r mine its ac tion a nd fix the d a te, time a nd pla c e of its me e tin g s, unless the B o a rd of Dir e c tors shall othe r wise p r ovide. The B o a rd of Dir e c tors s h a ll h a ve the pow e r a t a n y time to c han g e t h e memb e r s hip o f, to inc rea s e or d ec r ea s e the memb e rship o f , to fill a ll v aca n c ies in a nd to disch a r g e a n y s u c h c o m mitt ee , or a n y m e mber the re o f , e ith e r w ith or w i thout ca use.
S ec tion 4.3. P ro c e dur e ; Me e t i n g s; Quo r u m . The p r ovisions of the s e B y l a ws whi c h g ov e rn m ee tin g s, ac tion without me e tin g s, noti c e a n d w a iver o f noti ce , a n d quor u m a nd voting r e quir e ments o f the B oard of Dir ec tors s h a ll a pp l y to c ommitte e s of di r ec t o r s a nd their memb e rs a s w e ll, unless othe r wise d e te r min e d b y the B o a rd of Dir e c tors o r re qu i r e d b y D e la w are L aw.
AR T I C L E 5
O F F I C ERS
S ec tion 5.1. G e n e r a l . The o f fi ce rs of the Co r por a tion m a y c onsist of a n E x ec utive Ch a irman of the B oard of Dir e c tors, a Chief E x ec utive O f f i ce r, a Pr e sident, a Chief F inan c i a l O f fi c er, one o r more V i ce Pr e sidents ( w hich m a y include E x ec utive Vi c e Pr e sidents a nd S e nior Vi c e Pr e sidents, a nd s o me of whom m a y h a v e p a rticular a uthori t y and r e sponsibilities a s d e si g n a t e d in their titl e s b y the B o a rd of Dire c to r s), a S e cr e t a r y , a T re a su r e r a nd s u c h Assistant Vi c e Pr e sidents, Assista n t S ec r e t a ri e s, Assistant T r e a su r e rs o r oth e r offi ce rs a s m a y f r om time to time be d e s i g n a ted b y t h e B o a rd o f Dire c tors. O n e p e rson m a y hold more than one offi ce , a nd no o f fi ce r (oth e r than a n Ex ec utive Ch a irman of the B o a rd o f Dire c tors) ne e d be a dir ec tor. T h e se s a id o f fi ce rs shall h a v e all the usual pow e rs a nd shall p e r f o r m a ll of the usual duti e s incid e nt to their r e spe c tive offi ce s and shall, in a ddition, p e rfo r m such other duti e s as shall be a ss i g n e d to them f r om time to time b y t h e B o a rd of Dire c to r s. I n its discr e tion, the Bo a rd of Dir ec tors m a y le a ve unfill e d a n y offi ce , e x ce pt that the r e shall a lwa y s b e e ith e r a Chief E x ec utive O f fi ce r o r a Pr e sident of the Co r por a t ion.
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Section 5.2. Compen s a t i o n . The B o a rd of Dir e c tors shall h a ve p ow e r to fix the compens a t i on of a ll of f i c e rs of the Corpo r a t i on.
S ec tion 5.3. Ele c t i on a nd T e rm of O f fi c e . T h e o f fi ce rs o f the Co r por a ti o n shall be e le c t e d a nnu a l l y b y the B oard of Dir e c tors a t its fi r st me e ting h e ld a ft e r e a ch a nnu a l me e ting of stockhold e rs or a s soon t h e r e aft e r a s c onv e nient. V aca n c ies m a y be filled or n e w o f f i c e s cr e a t e d a nd filled a t a n y m ee t i ng of the B o a rd of Dir ec tors. Ea c h o f fic e r shall hold o f fi c e until a suc c e ssor is du l y e l e c ted a nd qu a lifi e d or until h i s or h e r ea rlier d ea th, r e s i g n a tion or r e moval a s h e r e in a ft e r p r ovi d e d.
S ec tion 5.4. R e si g n a t i on a nd R e mova l . A n y offi ce r m a y r e s i g n b y d e l ive r ing a w ritten r e si g n a tion to the Co r p o ra tion a t its p r inci p a l o f fi c e o r to the Chief E x ec utive O f fic e r, the Pr e sident or the Se c r e t a r y . S u c h r e s i g n a tion shall be ef f e c tive upon r e c e ipt unless it is spe c ified to be ef f e c tive a t some l a ter time or upon the h a p p e ning of some lat e r e vent. A n y o f f i ce r e l e c ted b y the B o a rd o f Dire c to r s m a y be r e moved b y t h e B oard of Dir ec tors a t i ts disc re tion, b u t such r e moval sh a ll be without p re judi c e to the c on t r a c t ri g hts, if a n y , o f the p e r s on so r e moved.
S ec tion 5.5. E x ec ut i ve Ch a irma n . I f the B o a rd o f Dir e c tors d e s i g n a tes the Ch a irman of the B o a rd o f Dire c tors a s the E x ec utive Ch a irman of the B o a rd of D i r e c t o rs, the c h a irman shall be a n o f fi c er of the Co r p o r a tion. The E x ec utive Ch a irman of the B oard of Dir e c tors: (i) shall p r ovide a dv i c e a nd c ou n s e l to the Chi e f E x ec utive Offi c er, the Pr e sident a nd other memb e rs of s e nior mana g e ment in a r e a s such a s c o r p o r a te and str a te g ic planni n g a n d polic y , ac quisitions, major c a pit a l e x p e nditu re s a nd other a r ea s r e q u e s ted b y the B o a rd of Dire c tors; (ii) m a y s i g n a nd e x ec ute a n y d o c ument, d ee d, p a p e r, mor t g ag e , bond, stock ce rtificate, c ontra c t or ot h e r instrum e nt or obli g a tion in the n a me a nd on b e h a lf of the Co r por a tion, e x ce pt in ca s e s wh e re the e x ec ution the re of shall b e e x p re ss l y d e l e g a ted b y the B oard of Dir ec tors or b y t h e se B y l a ws to some other o f fi c er or a g e nt of the Co r por a tion or shall be r e quir e d b y a ppli ca ble law to be othe r wise e x ec uted; a nd (iii) shall, in g en e r a l, p e rfo r m a ll duti e s a s m a y b e p re s c rib e d b y t h e se B y l a ws or a ssi g n e d to him b y the B o a rd of D ire c t o r s f r om time to tim e .
S ec tion 5.6. Chief E x ec ut i ve O f fi c er . Subje c t to the c ontrol of the B o a r d of Dire c tors, the Chief E x ec utive O f fi ce r shall be r e sponsible for the g e n e r a l mana g e ment of the busin e ss of the Co r por a tion a nd s h a ll have supe r viso r y a uthori t y ov e r the g e n e r a l poli c i e s a nd busin e ss o f the Co r por a tion, a nd m a y s i g n a nd e x ec ute a n y d o c u ment, d ee d, p a p e r, m o r t g ag e , bond, stock ce rtific a te, contr ac t or other instrum e nt or ob l i g a tion in t h e n a m e and on b e h a lf of the Co r por a tion, e x ce pt in c a s e s w h e re the e x ec ution the re o f shall be e x p r ess l y d e l e g a ted b y the B o a rd o f Dir e c t o rs or b y these B y la w s to some other o f fic e r or ag e nt of the Co r por a tion or shall be r e qui r e d b y a ppli ca b l e law to b e oth e r w ise e x ec uted, a nd shall e x e r c ise such oth e r po w e rs a s the B o a rd of Dire c tors m a y f r om time to time d ir ec t. I n the e v e nt that t h e position of Ch a irman of the B o a rd of Dire c tors is unfill e d, the Chief E x ec utive O f fi ce r shall in a ddition h a ve the a uthori t y a nd r e sponsibilities of the Chai r man of t he B oard of Dir ec tors.
S ec tion 5.7. P r e siden t . The Pr e sident shall, subj e ct to the pow e rs of supervision a nd c ontrol c onf e rr e d upon the Chi e f E x ec utive O f fi c er, h a v e a nd p e rfo r m such duti e s a s usual l y d e volve upon the role of t h e pr e sident of a c o r p o r a tion a n d shall h a ve a ll ne ce ss a ry p o w e rs to disch a rge such r e sponsibili t y i n c l uding the powers to s i g n a nd e x ec u te a n y d o c ument, de e d, p a p e r, mort g ag e , bond, stock c e rtifi ca te, c ontra c t or ot h e r instrum e nt or oblig a tion in the n a me a nd on b e h a lf of the Co r por a tion, e x ce pt in ca s e s w h e re the e x ec ution thereof shall be e x p re ss l y d e l e g a ted
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b y t h e B o a rd of Dir e c tors or b y t h e se B y l a ws to some other o f fi ce r or a g e nt of the Co r por a t i on or shall be r e quir e d b y a ppl ic a ble l a w to be othe r wise e x ec uted, a nd such oth e r pow e rs a s the B o a rd of Dir e c tors m a y f r om t i me to t i me dir ec t. I n the e v e nt that the o f fi c e of Chief E x ec ut i ve O f fi c e r is unfill e d, the P r e si d e nt shall in a ddi t ion h a ve the a uthori t y a nd r e spons i bi l i t ies of the Chi e f E x ec ut i ve O f fi c e r a s s p ec ified in S ec t i on 5.6.
S ec tion 5.8. Chief F ina n c ial O f fi ce r . The Chief Finan c ial O f f icer shall p e rfo r m such duti e s a s a re c ustom a r y for a c hief fin a n c ial o f f i ce r t o p e r f o r m, including the pow e rs to si g n a nd e x ec ute a n y d o c ument, d ee d, p a p e r, mor t g ag e , bond, stock ce rtificate, c ontra c t or ot h e r instrum e nt or obli g a tion in the n a me a nd on b e h a lf of the Co r por a tion, e x ce pt in c a s e s wh e re the e x ec ution the re of shall b e e x p re ss l y d e l e g a ted b y the B oard of Dir ec tors or b y t h e se B y l a ws to some other o f fi c er or a g e nt of the Co r por a tion or shall be r e quir e d b y a ppli ca ble law to be othe r wise e x ec uted, a nd shall p e r f o r m such ot h e r duti e s a s f r om time to time m a y b e a ss i g n e d to him or h e r b y the B o a rd of Dir e c tors, t h e Chief Ex ec utive O f fi ce r or the Pr e sident.
S ec tion 5.9. E x ec ut i ve Vi c e P r e sidents; S e nior Vi c e P r e sidents; Vi c e P r e sident s . E ac h E x ec utive Vi c e Pr e sid e nt, S e nior Vi c e Pr e s id e nt or Vi c e Pr e sident s h a ll e x e r c ise g e ner a l supe r vision a nd h a ve e x ec utive c ontrol of such d e p a rtme n ts of the Co r por a tion’s busin e ss, or p e r f o r m s u c h other e x ec utive duti e s a s shall f r o m time to time be a ssi g n e d to him b y the B o a rd of Dir e c t o rs, the Ch i e f Ex ec utive O f fi c er or b y t h e Pr e sident. The B oard o f Dir e c t o rs shall h a ve the pow e r to d e si g n a te p a rticul a r a re a s of a uthori t y a nd r e sponsibili t y o f e a c h E x ec utive Vice Pr e sident, S e nior Vi c e Pr e sident a nd Vi c e Pr e s ident a nd to indi ca te such d e si g n a tion in such o f fi ce r’s titl e . E ac h E x ec utive Vice Pr e si d e nt and S e nior Vice Pr e sid e nt ( w ithout reg a rd to wh e ther his or h e r title spe c ifies p a rticu l a r a r ea s of a uthori t y a nd r e spon s ibili t y ) a nd eac h Vi c e Pr e sident whose title d o e s not d e si g n a te spe c ific a re a s o f a uth o ri t y a nd r e sponsibili t y s h a ll be v e sted with pow e rs to si g n a nd e x ec ute a n y d o c ument, d ee d, p a per, mort g ag e , bond, stock ce rtific a te, contr ac t or other instrum e nt or ob l i g a tion in t h e n a m e and on b e h a lf of the Co r por a tion, e x ce pt in c a s e s w h e re the e x ec ution the re o f shall be e x p r ess l y d e l e g a ted b y the B o a rd o f Dir e c t o rs or b y these B y la w s to some other o f fic e r or ag e nt of the Co r por a tion or shall be r e qui r e d b y l a w to be othe r wise e x ec uted. I n the ca se of eac h Vi c e Pr e sident whose title indi ca tes one or more spe c ific a r ea s of a utho r i t y a nd r e sponsibili t y , s u c h Vi c e Pr e sident’s a uthori t y a nd r e sponsibilities shall be limited to the a r e a or are a s d e s i g n a ted in such Vi c e Pr e sident’s title a s spe c ified b y the B o a rd of Dire c tors. I n the c a se of a bsen c e or disabili t y o f the Chief E x ec utive O f fi c er a nd the Pr e sident, e ach E x ec utive Vi c e Pr e s i d e nt a nd S e nior Vi c e Pr e sident ( w ithout re g a rd to wh e th e r his or her title spe c ifies p a rticul a r a r e a s of a uthori t y a nd r e sponsibili t y ) s h a ll be v e sted will a ll t h e po w e rs of the Chi e f E x ec u tive O f fic e r a nd t h e Pr e sident in r e s p ec t o f t he powers to s i g n a nd e x ec ute a n y document, d ee d, p a p e r, mor t g a g e , bond, stock ce rtifi ca te, contr ac t or other instrum e nt or obli g a tion in the n a me a nd on b e h a lf of the Co r por a tion, e x ce pt i n ca s e s wh e re the e x ec ution the re of shall be e x p re ss l y d e l e g a ted b y the B o a rd o f Dir e c t o rs or b y these B y la w s to some other o f fic e r or ag e nt of the Co r por a tion or shall be re qui r e d b y law to be othe r wise e x ec uted.
S ec tion 5.10. S ec r e ta r y . The S ec r e ta r y s h a ll a tt e nd a ll me e tin g s of the B o a rd of Dir e c tors a nd a ll me e ti n g s of the stockhold e rs a nd r e c o rd a ll the p r oc ee di n g s o f the me e ti n g s of the Co r por a tion a nd of the Bo a rd of Dir e c t o rs in a book to be k e pt for that pu r pose a nd shall p e r f o r m like duti e s for t he stand i ng c ommitte e s of t h e Bo a rd of Dir ec tors. T h e S ec r e t a r y shall g ive, or ca use to be g i v e n, noti c e of a ll me e ti n g s of the st o c kholde r s a nd s p ec ial m e e tin g s of the B o a rd of Dir e c tors, a nd shall p e rfo r m such other duti e s a s m a y be pr e s c rib e d b y t he B o a rd of Dire c tors,
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the Chief E x ec ut i ve O f f i ce r o r the P r e sident, un d e r who s e sup e rvision he or she shall b e . The S ec r e t a r y s h a ll h a ve c u sto d y of the c o r p o r a te s ea l of the Co r por a t i on a nd he or she, or a n Assistant S ec r e ta r y , shall h a ve a uthori t y to a f fix the s a me to a n y ins t rum e nt r e quiring it a nd wh e n so a f f i x e d, it m a y be a t t e sted b y the S e cr e ta r y ’s si g n a ture or b y t he si g n a tu r e of such Assistant S ec r e ta r y . T h e B o a rd o f Dire c tors m a y g ive g e n e r a l a uthori t y to a n y ot h e r o f fi ce r to a f f ix the s ea l of the Co r p o r a t i on a nd to attest the a f f i x ing b y his or h e r s i g n a tur e .
S ec tion 5.11. Assistant S ec r e t a r y . The Assistant S ec r e t a r y , or if th e re b e more than o n e , the Assistant S ec r e ta r ies in the o r d e r d e t e rmin e d b y t he B oard of Dire c tors (or if the r e be no such d e termin a tion, then in the o r d e r of their e le c tion) shall, in the a bsen c e of the S ec r e t a r y o r in the e v e nt of the Se c r e t a r y ’s inabili t y or refus a l to ac t, p e r f o rm the duti e s a nd e x e r c ise the po w e rs o f the S ec r e t a r y a nd shall p e r f o r m such oth e r duti e s a nd h a ve such other p ow e rs a s the B o a rd o f Dir e c tors m a y f r om time to time pr e s c rib e .
S ec tion 5.12. T rea sur e r . The T rea su r e r shall h a v e the c usto d y of the c orpor a te funds a nd s ec u r ities a nd shall k e ep full a nd acc u ra te a c counts of r e ce ipts a nd disburs e ments in b ooks b e lon g i n g to the Co r p o ration a nd shall d e posit a ll mon e y s a nd ot h e r v a lua b le e ff e c ts in the n a me a nd to the c r e dit of the Co r por a tion in such d e p osito r ies a s m a y be d e si g n a t e d b y t h e B o a rd of Dir e c tors. The T r e a surer shall disburse the funds of the C o rpor a tion a s m a y be o rd e r e d b y the B o a rd of D i r e c tors, taki n g p rop e r vou c hers for s u c h disburs e ments, a nd s h a ll r e nder to the Chi e f E x ec utive O f fi ce r, the Pr e sident a nd the B o a rd of Dir e c tors, a t its r eg ular me e tin g s, or wh e n the B o a rd of Dir ec tors so r e qu ir e s, a n acc ount of a ll tr a nsa c tions of the T rea su r e r a nd of the fin a n c ial c ondition of the Co r por a tion. I f r e quir e d b y the B o a rd of Dir ec tors, the T rea su r e r shall g ive the Co r por a tion a bond in s u c h sum a nd with such sur e t y o r sur e ti e s a s sha l l be s a tisf a c to r y to the B o a rd of Dir ec tors for t he f a ith f ul p e r f o r ma n c e of the duti e s of his or h e r o f fi c e a nd for the r e stor a tion to the Co r por a tion, in c a se of his o r her d ea th, r e si g n a tion, r e tir e ment or r e moval f rom o f fi ce , o f a ll books, p a p e rs, vou c hers, mon e y an d other p r oper t y o f wh a t e v e r kind in his or her possession or und e r his o r h e r c ontrol b e lon g i n g to the Corpo ra tion.
S ec tion 5.13. Assistant T rea su r e r . The Assistant T r e a surer, or if th e re s h a ll be mo r e than on e , the Assistant T r e a sur e rs in t h e o r d e r d e te r m i n e d b y the B o a rd o f Dire c tors (or if th e re b e no such d e t e rmin a tion, then in the order of th e ir e l e c tion), sh a ll, in the a b s e n c e of the Tr e a s u r e r or in the e v e nt of the T rea su r er ’ s inabili t y or r e fus a l to ac t, p e r f o rm the duti e s a nd e x e r c ise the pow e rs of the T rea surer a nd shall p e r f o r m such other dut ie s a nd h a ve such other pow e rs a s the B o a rd of Dir e c tors m a y f r om time to time pr e s c rib e .
AR T I C L E 6
I N DEM N I F ICA T ION
S ec tion 6.1. P ow e r to I n d e mn if y in A c t i ons, S ui t s or Pro c ee di n g s Oth e r th a n Those b y o r in the Ri g ht of the Co r por a t i o n . The Co r por a tion s h a ll, to the full e st e x tent p e rmitt e d b y D e law a re L aw, indemni f y a nd hold h a rml e ss a n y p e rson w h o w a s or is a p a r t y or is thr ea te n e d to be made a p a r t y to a n y th r ea te n e d, p e nding o r c ompl e ted ac tion, s uit or p r o c e e din g , w h e ther c ivil, c rimin a l, a dministr a tive or investi g a tive (oth e r than a n ac tion b y or in the ri g ht of the Co r por a tion) b y re a son of the fa c t that such p e rson is or w a s a dire c tor or offi ce r o f the Co r por a tion, or while a dir ec tor or officer of the Co r por a tion is or w a s serving a t the r e qu e st of the Co r por a tion a s a di r ec tor, offi c er, e mpl o y ee or ag e nt of a nother c orpor a tion, p a rtnership,
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jo i nt v e ntur e , trust, e mp l o y e e b e n e fit plan or other e nt e rp r ise, a g a inst e x p e nses (in c lud i n g a t t o r n e y s’ fe e s, c osts a n d e x p e nses ) , jud g ments, fin e s a nd a moun t s p a id in s e t t lem e nt ac tual l y a nd re a sona b l y incu r r e d b y such p e rson in c on n e c t i on with su c h ac t i on, suit or p r o c e e di n g if su c h p e rson ac ted in g ood fa i t h a nd in a mann e r su c h p e rson re a sona b l y b e l iev e d to be in or not oppos e d to the b e st in t e r e sts of the Co r po r a t i on, a nd, with r e sp e c t to a n y c rimin a l ac t i on or p r o cee di n g , h a d no re a sona b le c a use to b e l i e v e such p e rson ’ s c ondu c t w a s unla w ful. The te r m i n a t i on of a n y a c t i on, suit or p r o cee di n g b y j u d g men t , o r d e r, s e t t lem e n t, c onviction, or upon a plea of nolo c ontend e re or i t s e quival e nt, shall not, of i t s e lf, c r e a te a p re sumpt i on that the p e rson did not ac t in g ood f a i t h a nd in a mann e r whi c h such p e rson re a s o n a b l y b e l i e v e d to be in or not oppos e d to the b e s t in t e r e sts of the Corpo ra t i on, a nd, with r e spe c t to a n y c rimin a l ac t i on or p r o cee di n g , h a d re a sona b le ca use to b e l i e v e that s u c h p e rson ’ s c ondu c t w a s unl a w f ul.
S ec tion 6.2. P ow e r to I n d e mn if y in A c t i ons, S ui t s or P ro c ee din g s b y or in the Ri g ht of t h e Co r por a t i on . The Co r por a tion shall, to the full e st e x tent p e rmitt e d b y D e l aw a re L a w, indemni f y a nd hold h a rml e ss a n y p e rson who w a s or is a p a r t y o r is thr ea ten e d to b e made a par t y to a n y thr ea ten e d, p e ndi n g or compl e ted ac tion, suit or p r o cee di n g b y o r in the ri g ht of the Co r por a tion to p r o c u r e a jud g ment in its f a vor b y re a son of the f a c t that such p e rson is or w a s a dir ec tor or o f fi ce r of the Co r por a ti o n, or while a dire c tor or o f fi ce r of the Co r por a ti o n is or w a s s e rvi n g a t the r e qu e st of the Co r p o ration a s a dir ec tor, o f f i ce r, e mpl o y ee or a g e nt of a nother c o rpo ra tion, p a rtn e rship, joint v e ntu r e , trust, e mpl o y ee b e n e f i t plan or ot h e r e nte r p r i s e ag a inst a ll e x p e nses (in c luding a tto r n e y s’ fees, c osts a nd e x p e nses) actual l y a nd re a sona b l y i n c u r r e d b y su c h p e rson in c onn ec tion with the d e f e nse or s e ttlem e nt of s u c h ac tion, suit or p r o cee ding if such p e rson ac ted in g ood f a ith a nd in a mann e r such p e rson r e a sona b l y b e li e v e d to be in or not oppos e d to the b e st int e r e sts of the Co r por a tion; e x ce pt that no in d e mnifi ca tion shall be made in r e s p ec t of a n y c l a im, issue or mat t e r a s to whi c h such p e rson shall h a ve b ee n a djud g e d to be li a ble to the Co r por a tion unless a nd o n l y to t h e e x tent that the Court of C h a n c e r y or t h e c o u rt in whi c h such ac tion, suit or p r o cee ding w a s b r o u g ht shall d e te r mine upon a ppli c ation that, d e spite the a djudi ca tion of li a bili t y b ut in view of a ll the c ir c u mst a n ce s of the ca s e , s u ch p e rson is f a ir l y a nd r e a sona b l y e ntitl e d to i n d e mnify for such e x p e n s e s whi c h the Court of C h a n ce r y or such other c ourt sh a ll d ee m pro p e r.
S ec tion 6.3. Autho r i z a t i on of I nd e mn i fi c a t i o n . A n y in d e mnifi ca tion u n d e r this A r ti c le 6 (unl e ss o r d e r e d b y a c o u rt) shall be made b y t h e Co r por a tion on l y a s a ut h o r i z e d in the spe c ific ca se upon a d e te r min a t ion that indemn i fi ca tion of the dir ec tor or o f fi ce r is p r op e r in the c ir c umst a nc e s be ca use s u c h p e rson h a s met the a ppli ca ble stand a rd of c ondu c t s e t fo r th in S ec tion 6.1 or S ec tion 6.2, a s the ca se m a y b e . Su c h d e te r min a tion shall be mad e , with r e spe c t to a p e rson who is a dir ec tor or o f fi ce r a t the time of such d e te r min a tion, (i) b y a majo r i t y vote of the dir ec t o rs who a re n ot p a rties to s u c h ac tio n , suit or p r o c e e din g , e v e n tho u g h less t h a n a quor u m, or (ii) b y a c o m mitt e e of such dire c tors d e si g n a t e d b y a maj o ri t y vote of such d i r e c tors, e v e n tho u g h less than a quor u m, or (iii) if there a re no s u c h dire c tors, or if such di r ec tors so dir ec t, b y indep e n d e nt leg a l c ouns e l in a w r itten opinion, or (iv) b y t h e stockhold e rs. Su c h d e te r min a tion shall be mad e , with r e s p ec t to f o r mer dire c tors a nd o f f i ce rs, b y a n y person or p e rsons h a ving the a ut h o r i t y to a c t on the matt e r on b e h a lf of the Co r por a tion. To the e xtent, how e v e r, that a p re s e nt or fo r mer di r ec tor o r o f fic e r of the Co r p o r a tion h a s b ee n suc ce ssful on the me r its or other w ise in d e f e nse of a n y a c tion, suit or p r o cee ding s e t fo r th in S ec tion 6.1 or S ec tion 6.2 or in d e f e n s e of a n y c laim, issue o r matter ther e in, such person shall be indemnifi e d a g a inst a ll e x p e nses (in c luding a tto r n e y s ’ fe e s, c osts a nd e x p e nses) a ctual l y a nd r ea sona b l y
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specific incu r r e d b y such p e rson in c onn ec t i on the re wit h , without the n ece ss i t y o f a uthori z a t i on in the specific case.
S ec tion 6.4. I n d e mn i fi c a t i on b y a Cour t . Notwithstanding a n y c ontr a r y d e t e rmin a tion in the spe c ific ca se under Se c tion 6.3, a nd notwith s tanding t h e a b s e n c e o f a n y d e te r min a tion the re under, a n y p r e sent o r f o r m e r di r e c tor or of f i c e r of the Corpor a tion m a y app l y to the Court o f Ch a n ce r y in the State of D e la w are for indemnific a tion to the e x tent othe r wise p e rmissible under S ec tions 6.1 a nd 6.2, a s t he c a se m a y b e . The b a s i s of such indemnifi ca ti o n b y a c ourt shall be a d e te r min a tion b y s u c h court that indemnific a tion of the p re s e nt or fo r m e r dire c tor or o f f i ce r is p r op e r in the c ir c umst a n ce s b e c a use such p e rson h a s met the a ppli ca ble st a nd a rds of c ondu c t s e t fo r th in S ec tion 6.1 or 6 . 2, a s the ca se m a y b e . N e ith e r a c ontra r y d e t e rmin a tion in the spe c if i c ca se under S ec tion 6.3 nor the a bsence of a n y d e te r min a tion the re under shall be a d e f e nse to such a ppli ca tion o r c re a te a p re sumption t h a t t h e p re s e nt or fo r mer dire c tor or o f f i c e r s ee ki n g indemnifi ca tion h a s not met a n y a ppli ca ble s t a n d a rd of c ondu c t. Notice of a n y a pplic a tion for indemnifi ca tion pursu a nt to this S ec tion 6.4 shall be g iven to the Co r por a t i on p r ompt l y upon the filing of su c h a ppli ca ti o n. I f such a pplic a tion is suc c e ssful, in whole o r in p a rt, the p re s e nt or fo r mer dir ec t o r or o f fi ce r s ee king indemnifi ca tion shall a lso be e nti t led to b e p a id the e x p e nse of p r ose c uti n g such a pplic a tion to the f ull e st e x tent p e rmitt e d b y D e la w a re L a w.
S ec tion 6.5. E x p e nses Pa y a b l e in Ad v a n c e . A l l e x p e nses, including w ithout limitati o n a tto r n e y s’ fe e s, c osts a nd e x p e nses, incu r r e d b y a p re s e nt or fo r m e r dir ec tor or o f fic e r of t h e Co r por a tion in d e f e ndi n g a n y c ivil, c rimin a l, administr a tive or invest ig a tive ac tion, suit or p r o cee di n g to whi c h such p e rson is or w a s a p a rty or thre a ten e d to be m a de a p a r t y b y r ea son of the fa c t that s u c h p e rson is or w a s a dire c tor o r offi ce r of t h e Co r por a tion, or while a di r ec tor or o f fi ce r of t h e Co r por a tion i s or w a s serving a t the r e qu e st of the Corpor a tion a s a dire c tor, o f fi ce r, e mpl o y ee or ag e nt of a not h e r c o r por a tion, p a rtn e rship, joint ventur e , trust, e mpl o y ee b e n e fit plan or other e nt e rp r ise shall be p a id b y t h e Co r por a tion to the full e st e x tent p e rmit t e d b y D e la w are L a w in a d v a nce of the fi n a l disposition of such ac tion, suit or pro cee di n g upon r ece ipt of a n und e rt a ki n g b y or on b e h a lf of such dir e ctor or o f fi ce r to r e p a y s u c h a mount if it sha l l ultim a te l y be d e t e rmin e d that such p e rson is not entitl e d to be indemnifi e d b y t h e Co r por a tion a s a uthoriz e d in this A r ti c le 6. Without l i miting a n y other p r ovision in this A r ti c le 6, to the full e st e x tent p e rmitt e d b y D e l aw a re L aw, a n y p re s e nt or fo r mer dir ec tor or offic e r of the Co r p o r a tion who b r in g s a c laim a g a inst the Co r por a tion to e n f o rc e s u c h p e rso n ’s r i ghts und e r this A r ti c le 6 shall be e ntitl e d to the a dv a n ce ment of e x p e nses a nd, to the e x tent suc c e ssful, indemnifi ca tion b y the Corpo ra tion in conne c tion with the pros ec uti o n of su c h c laim.
S ec tion 6.6. I nd e mn i fi c a t i on for E x p e nses a s W i t n e s s . To the e x tent that a p re s e nt or fo r mer dire c tor or o f fi c er of the Co r por a tion is, b y re a son of b e ing or h a v ing b ee n a dire c tor or o f fi ce r, a witness in a n y ac tion, suit or p r o cee ding to whi c h such p e rs o n is not a p a r t y , s u c h p e rson shall be indemnifi e d b y the Co r por a tion a g a inst a ll e x p e nses, including a tto r n e y s’ f ee s, c osts a nd e x p e nses, ac tu a l l y a nd r ea sona b l y inc u rr e d b y s u c h p e rson in c o n n ec tion the re with.
S ec tion 6.7. Empl o y ee s a nd A g e nt s . The Co r p o ra tion m a y , b y ac tion of the B o a rd of Dir e c tors f r om time to t im e , g ra nt r i g hts to in d e mnifi ca tion a nd a dv a n c e ment of e x p e nses to p re s e nt a nd fo r m e r e mpl o y e e s a nd a g e nts of the Co r por a tion with the s a me s c ope a nd e ff ec t a s the p r ovisions of t h is A r t icle 6 with r e sp ec t to the indemnifi ca tion a nd a dv a n ce ment of e x p e nses of dir ec tors a nd o f fic e rs of the Corpo ra tion.
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Section 6.8. Non e x c l u siv i t y of I n d e mn i fi ca t i o n a nd Adv a n ce ment of E x p e nse s . The indemnifi ca t i on a nd a dv a n ce ment of e x p e nses p r ovided b y or g r a n t e d pu r s u a nt to th i s A r t i c le 6 shall not be d ee med e x c lus i ve of or l i m i t e d b y a n y other r i g hts to whi c h those s ee king indemnifi ca t i on or a d v a n ce ment of e x p e nses m a y be e nt i t l e d un d e r the C e rtifi ca t e of I n c o r po r a t i on, a n y a g r ee ment, vote of stockhold e rs or dis i nte r e sted dir ec t o r s or othe r wise, both a s to ac t i on in s u c h p e r s on’s o f fi c ial ca p ac i t y a n d a s to a c t i on in a noth e r ca p a c i t y while hold i ng such o f fi ce , it b e ing the pol ic y of the Co r por a t i o n that indemnifi ca t i on of a nd a dv a n ce ment of e x p e nses to a ll p re s e nt a nd fo r mer dir e c tors a nd o f fi ce rs o f the Co r por a t i on shall be made b y the Co r por a t i on to t he f ul l e st e x tent p e rmit t e d b y D e l a w a re L a w.
S ec tion 6.9. I ns u r a n c e . The Co r por a tion m a y p u r c h a se a nd maintain insur a n c e on b e h a lf of a n y person who is or was a di r ec t o r , o f fic e r, e m p l o y ee or ag e nt of the C o rpo ra tion, or is or w a s s e rving a t the r e qu e st o f the Co r por a tion a s a dir ec tor, o f fic e r, e mpl o y e e or a g e nt o f a not h e r c o r por a tion, p a rtn e rship, joint v e ntur e , trust, e m pl o y ee b e n e fit plan or other e nt e rp r ise, a g a in s t a n y li a bili t y a sse r ted a g ainst such p e rson a nd in c u r r e d b y such p e rson in a n y such ca p ac i t y , o r a rising out of such p e rs o n ’ s status a s such, wh e ther or not the Co r por a tion would h a ve the pow e r or the obli g a tion to indemnify such p e rson ag a inst such li a b i li t y un d e r D e la wa re L a w.
S ec tion 6.10. Contr ac t Ri g hts; S u r vival of I n d e mn i fi ca t i on a nd Adv a n ce m e nt of E x p e nse s . The indemnifi ca tion a nd a dv a nc e ment of e x p e n s e s p r ovided b y , or g ranted pursu a nt to, this A r ti c le 6 shall be c onsi d e r e d a c ont r ac t b e tw ee n t he Co r por a tion a nd such p e rson, b e de e med to h a ve v e sted upon a di r ec tor or offi ce r taki n g o f fi c e a nd, un l e ss otherwise p r ovided wh e n a uthoriz e d or r a tifi e d, c o ntinue a s to a p e rson who h a s cea s e d to be a di r e c tor or o f fic e r a nd shall inure to the b e n e fit of t h e h e irs, e x ec utors a nd a d ministr a tors of such a person. E ac h p e rson who is or b ec omes a dir ec tor or o f fi ce r o f the Co r poration shall be d ee med to h a ve s e rved or to h a ve c ontinu e d to s e rve in such ca pa c i t y in r e li a n c e upon the indemnifi ca tion a nd a dv a n c e ment of e x p e nses p r ovided for in this A r ti c le 6. A n y r e p e a l, a mendm e nt o r modifi ca tion of the fore g oing p r ovisions of this A r ti c le 6 shall not a dv e rs e l y af fec t a n y r i g ht or p r otection h e r e und e r of a n y p re s e nt o r form e r dir ec t or or o f fic e r o f the C o rpo ra t ion in r e spe c t of a n y a c t or omission o cc u r ri n g pri o r to the time of such r e p ea l, a men d ment or modifi ca tion.
S ec tion 6.11. L i m i t a t i on on I nd e mn i fi c a t i o n . Notwithstanding a n y thi n g c ontain e d in this A r ti c le 6 to the c ontra r y , e x ce pt for p r oc ee di n g s to e n f or c e r i g hts to indem n ific a tion ( w hich shall be g ov e rn e d b y Se c tion 6.4), the Co r por a tion s h a ll not be obl i g a ted to indemni f y or a dv a nce e x p e nses to a n y d i r e c t o r, o f fic e r, e mpl o y ee or a g e nt in c onne c tion w ith a n ac tion, suit or p r o cee di n g (or part the r eo f ) initi a ted b y such person unless such ac tion, s uit or p r o cee ding (or p a rt th e r e o f) w a s autho r i z e d b y the B o a rd of D ire c tors.
S ec tion 6.12. C e rt a in D e finit i on s . F or purp o s e s of this A r ti c le 6, ref e r e n ce s to “ the Co r por a tion” shall i n c lude, in a ddition to t h e r e s ulting c o r p o r a tion, a n y constitu e nt c o r por a tion (in c luding a n y c onstituent of a c onstitu e nt) a bs o rb e d in a c onsolidation or mer g er whi c h, i f its s e p a r a t e e x ist e n c e h a d c o ntinu e d, would h a ve h a d pow e r a nd a uthori t y to i n d e mnify its di r ec tors, o f fi cer s, e mpl o y ee s or a g e nts so that a n y p e rson who is or w a s a dir ec t o r, o f fic e r, e mpl o y ee o r a g e nt of such c onstitu e nt c o r por a tion, or is o r w a s serving a t the r e q u e st of such c onstitu e nt c o r por a tion a s a dire c to r , o f fi ce r, e mpl o y ee o r a g e nt o f a nother c o r por a t ion, p a rtn e rship, joint v e ntur e , trust, e mpl o y ee b e n e fit plan or other e nte r p r ise, shall stand in t h e s a me position und e r the p r ovisions of t h is A rticle 6 with r e spe c t to t he r e sulting or surviving c o r p o r a tion a s such p e rson would h a v e with r e spe c t to s uc h c onstitu e nt c o r por a tion if its s e p a r a t e e x ist e n c e h a d
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cont i nu e d. F o r p u rpos e s of th i s A rticle 6, r e f e ren ce s to “ fin e s ” shall i n c lude a n y e x c ise ta x e s a ssess e d on a p e rson wi t h r e spe c t of a n y e mp l o y e e b e n e fit plan; a nd ref e re n ce s to “ s e rvi n g a t the r e qu e st of the Co r p o r a t i o n” shall include a n y s e r v ice a s a di r ec tor, o f fi c e r, e mp l o y e e or a g e nt of the Co r por a t i on whi c h i m poses dut i e s on, or invo l v e s s e rvi ce s b y , s u c h dir ec tor, o f fi c e r, e mp l o y e e or a g e nt with r e spe c t to a n e mp l o y e e b e n e fit plan, i t s p a rticip a nts or b e n e fi c ia r i e s; a nd a p e rson who ac t e d in good f a i t h a nd in a man n e r such p e rson r ea sona b l y b e l i e v e d to be in t h e in t e r e st of the p a rticip a n t s a nd b e n e fi c i a ri e s of a n e mp l o y e e b e n e fit plan shall be d ee med to h a ve ac ted in a man n e r “ not oppos e d to the b e st in te r e sts of the Co r por a t i o n ” a s r e f e r r e d to in th i s A r t i c le 6.
AR T I C L E 7
CA P I T A L S TOCK
S ec tion 7.1. C e rtifi ca tes F or S tock; Un c e rtifi c a ted S h a r e s . T h e shar e s of the Co r por a tion shall be r e p re s e nted b y c e rtifi ca tes, p r ovi d e d that the B o a rd o f D i re c tors of the Co r por a tion m a y p r ovide b y r e solution or r e solutions that some o r a ll of a n y or a ll c lasses or s e ri e s of its stock shall be unc e rtific a ted s h a r e s. A n y such r e solut i on shall not a pp l y to s h a r e s r e pr e s e nted b y a ce rtific a te until such ce r t ific a te is sur re n d e r e d to the Co r por a tion. E x ce pt a s othe r wise p r ovided b y la w , the r i g hts a nd obli g a tions of the holde r s of un ce rtifi ca t e d shar e s a nd the ri g hts a nd obli g a tions of the hol d e rs of shar e s r e p r e s e nted b y certifi ca tes of the s a me c lass a nd seri e s s h a ll be identic a l. Ev e r y ho l d e r of stock r e p r e s e n t ed b y c e rtifi ca tes s h a ll be e ntitl e d to h a ve a ce rtific a te s i g n e d b y , or in the n a m e of the Co r por a tion b y the Chief E x ec u tive O f fic e r, Pr e sident or Vi c e Pr e sident, a nd by t h e Chief F ina n c ial O f fic e r, T r e a surer or a n Assistant T rea sur e r, or t h e S ec r e t a r y o r a n Assistant S ec r e ta r y of the Co r por a tion r e pr e s e nti n g the number of sha r es re g ist e r e d in ce rtific a te fo r m. A n y or a ll of the si g n a tur e s on the ce rtifi ca te m a y be a fa c simil e . I n ca se a n y offi ce r, tr a ns f e r a g e nt or re g istr a r who h as si g n e d o r who s e fa c simile si g n a tu r e h a s b ee n pla ce d upon a c ertifi ca te shall h a ve c ea s e d to be such o f fic e r, tr a n s f e r a g ent or re g istr a r b e fore such c e rtifi ca te is issu e d , it m a y b e issu e d b y t h e Co r por a tion with the s a me ef f e c t a s if s u c h p e rson w ere such of f i c e r, tr a nsf e r a g e nt o r r e g istrar a t the d a te of issu e . T h e Co r por a tion sh a ll not h a ve power to issue a c e rtifi ca te in b ea r e r f o rm.
S ec tion 7.2. T ra nsf e rs of S toc k . Upon sur re nd e r to the Co r por a tion or the tr a nsf e r a g e n t of the Co r por a tion of a ce r t ific a te for shar e s du l y e n dors e d or a c c ompani e d b y p rop e r e vidence of suc c e ssion, a ss i g nment o r a uthori t y to tr a n s f e r, it shall be the du t y of t h e Co r por a tion to issue a n e w ce rtific a te to the p e rson e ntitl e d the re to, ca n ce l t he old ce rtifi ca te a nd r e c o r d the tr a nsa c tion upon its books.
S ec tion 7.3. Autho r i t y f or Addit i on a l Rules R e g a rding T r a nsf e r . The B o a rd of Dir e c tors shall h a ve the power and a uthori t y to make a l l such rul e s a nd re g ula t ions a s it m a y de e m e x p e dient c on c e rning the issu e , tr a ns f e r a nd re g istr a tion of ce rtific a ted or u n ce rtific a ted shar e s o f the stock of the Co r por a tion, a s w e ll a s for the issu a n c e of new ce rtif i ca tes in li e u of those whi c h m a y b e lost or d e str o y e d , a nd m a y r e quire o f a n y stockhold e r r e qu e s t ing r e pla ce m e nt of lost or d e str o y ed ce rtific a tes, b ond in such a mount a nd in such fo r m a s th e y m ay de e m e x p e dient to indemni f y t h e Co r por a tion, a nd/or the tr a n s f e r a g e nts, a nd/or t h e re g istrars of its stock ag a inst a n y c laims a risi n g in co n n ec tion the re w i th.
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Sec t i on 7.4. F i x ing D a t e for D e te r m i n a t i on of S tockhold e rs of R ec o r d . I n o rd e r that the Co r por a t i on m a y d e t e rmine the stockhold e rs e nt i t l e d to not i c e of or to v ote a t a n y m e e t i ng o f stockhold e rs or a n y a dj o u r nment the re o f, or e nt i t l e d to r e c e ive p a y m e nt of a n y div i d e nd or other dis t ribution or a l l ot m e nt or a n y r i g hts, or e nt i t l e d to e x e r c ise a n y ri g hts in r e spe c t of a n y c h a n g e , c onv e rsion or e x c h a n g e of stock or for the pur p ose of a n y other l a w f ul ac t i on, the B o a rd of Dir e c tors m a y fi x , in a dv a n ce , a r ec o r d d a te, w h ich shall not be mo r e t h a n si xt y (60) nor less than ten (10) d a y s b e fo r e the d a te of s u c h me e t i n g , nor mo r e than si xt y (60) d a y s p r ior to a n y other a c t i on. Notwithsta n ding the f or g oin g , a t the t i me the B o a rd of Dire c tors fi x e s a re c o r d d a te to d e te r m i ne the stock h olde r s e nt i t l e d to not i c e of a n y me e t i n g of sto c kholde r s, the B o a rd of Dir e c tors m a y fix a re c o rd d a te that is on o r b e f o re the d a te of s u c h me e t i ng of stockhold e rs to d e te r m i ne the stockhol d e rs e nt i t l e d to vote a t s u c h me e t i n g . A d e t e rmin a t i on of stockhold e rs e nt i t l e d to not i c e of o r to vote a t a me e t i n g of sto c kholde r s shall a pp l y to a n y a djournm e nt of t h e me e t i n g ; p r ovided , ho w e v e r , that the B o a rd o f Dir e c tors m a y fix a n e w r e c o rd d a te f o r the a djourn e d m e e t i ng a nd, p r ovided fu r th e r , that if the B o a rd of Di r ec tors fi x e s a n e w re c o r d d a t e for d e te r m i n a t i on of stockhold e rs e nt i t l e d to vo t e a t the a djourn e d me e t i n g , then the B o a rd of Dir e c tors s h a ll a lso fix a n e w r e c o rd d a te for s t o c kholde r s e nt i t l e d to n ot i c e of that a djour n e d me e t i n g , whi c h d a te m a y b e the s a me or a n e a rlier d a te a s that fi x e d for d e t e rmin a t i on of stockhold e rs e nt i t l e d to vo t e the rea t.
S ec tion 7.5. R e g is t e r e d S tockhold e r s . The Co r por a tion shall be e ntitl e d to r e c o g ni z e the e x c lusive ri g ht of a per s on re g ist e r e d o n its books a s the own e r of s h a res to r e ce ive divid e nds, a nd to vote a s such own e r, a nd to hold li a ble for ca lls a nd a ssessments a p e rson re g ist e r e d on its books a s the o wn e rs o f s h a r e s, a nd shall not b e b ound to r e c o g ni z e a n y equit a ble or oth e r c laim to or int e r e st in such sha r e or sha re s on the p a rt of a n y other p e rson, w h e ther or not it shall h a ve e x p re ss or other noti c e t h e r e o f , e x ce pt as othe r wi s e pro v ided b y the l a ws o f D e la w ar e .
AR T I C L E 8
GE N ER A L P RO V I S I O NS
S ec tion 8.1. Dividends . Subje c t to D e l a w a re L a w a nd the C e rtific a te of I n c o r p o r a tion, divid e nds upon the s h a res of c a pit a l stock o f the Co r por a tion m a y b e de c l a r e d b y the B o a rd o f Dir e c tors a t a n y re g ul a r or spe c ial me e ti n g . Di v idends m a y be p a id in c a sh, in p r oper t y or in sha re s o f the ca pital st o ck. B efo r e p a y ment of a n y divid e nd, there m a y b e s e t a side out o f a n y funds of the Co r por a tion a v a il a ble for divid e nds such sum or sums a s t he B o a rd of Dir ec tors f r om time to time, in i t s a bsolute discr e tion, think p r op e r a s a r e s e rve or r e s e rv e s to m ee t c ontin g e n c ies, or for e q u a lizing divid e nds, or for r e p a iri n g or m a int a ining a n y p r o p e r t y of the Co r por a tion or for such other purp o se a s the Bo a rd of Dir e c t o rs m a y t hink c ondu c ive to the int e r e sts of the Co r por a tion. The B o a rd o f Dir e c t o rs m a y modi f y o r a bolish a n y such r e s e rv e s in the m a nn e r in w hich it w a s c r e a ted.
S ec tion 8.2. Ch ec k s . All c h ec ks or d e mands for mon e y a nd notes of the Co r por a tion shall be si g n e d b y such o f f i c er or o f fi c ers or such other p e rson or persons a s the B oard of Dir e c tors may from time to time d e si g n a te.
S ec tion 8.3. Contr ac t s . In a ddition to the powers othe r wise g ra nted to o ffic e rs purs u a nt to A r ti c le 5 h e r e o f, the B o a rd of Dire c tors m a y a u t horize a n y offi ce r o r o f fic e rs, or a n y ag e nt or a g e nts, in the n a me a nd on b e h a lf of t h e Co r por a t ion to e nter into or e x ec u te a nd d e liv e r a n y a nd
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all d ee ds, bonds, mor t g a g e s, c ontr a c ts a nd ot h e r obl i g a t i ons or ins t rum e n ts, a nd such a uthori t y m a y b e g e n e r a l or c onfi n e d to sp ec ific instan c e s.
S ec tion 8.4. F isc a l Y ea r . The fis ca l y e ar of the Co r por a tion shall be f i x e d b y r e solution of the B oard of Dir ec tors.
S ec tion 8.5. S ea l . The Bo a rd of Dir e c tors m a y provide a suit a ble se a l, c o n taining the n a me of the Co r por a tion, which s ea l shall be in the c harge of t h e S e cr e ta r y . I f and wh e n so d i r ec ted b y the B o a rd o f Dir ec tors, dupli ca tes of the se a l m ay be k e pt a nd used b y the T r e a surer or b y a n Assistant S ec r e ta r y o r A s sistant T rea surer.
S ec tion 8.6. L o a ns . Subje c t to c omplian c e with a ppli ca ble l a w (in c lud i ng the Sarb a n e s - O x l e y A c t of 200 2 ), the Co r por a tion m a y lend mon e y to, or g u a r a ntee a n y obli g a tion o f , or othe r wise a ssist a n y o f fic e r or other e mpl o y ee o f t he Co r por a tion or of its s ubsidia r ies, including a n y o f f icer or e mpl o y e e who is a dir ec tor of the Co r por a tion or its subsi d ia r ies, w h e n e v e r, in the jud g ment of the B o a rd of Dire c tors, such lo a n, g u a r a n t y o r a ssistance m a y r ea sona b l y b e e x p ec ted to b e n e fit the Co r por a tion. The loan, g uar a n t y or other a ssis t a n c e m a y be with or without int e r e st, a nd m a y be unse c u r e d, or s ec u r e d in such ma n n e r a s the B o a rd of Dir ec tors shall a ppro ve , including, without limitation, a pledge of shar e s of sto c k of the Co r por a tion. Nothing in this s ec tion shall be d ee med to d e n y , limit or r e strict the p ow e rs of g u a r a n t y or w a rr a n t y o f the Co r por a tion a t common l a w or u n d e r a n y statut e .
S ec tion 8.7. Voting Se c u r i t ies O w n e d B y Co r por a t i o n . Voting s ec u r i t ies in a n y oth e r c o r por a tion h e ld b y t h e Co r por a tion shall be vot e d b y the Chi e f E x ec utive O f fi c er, the Pr e sident, the Chief F inan c ial O f fic e r, the T r e a surer, t h e Secr e ta r y o r a n y Vi c e Pr e si d e nt, unless the B oard of Dir e c t o rs spe c if i ca l l y c onf e rs a uthori t y to vo t e with r e spe c t th e r e to, w h ich a uthori t y m a y be g e n e r a l or c onfin e d to spe c ific inst a n ce s, upon some other p e rson or o f fi ce r. A n y p e rson a uthoriz e d to vote s ec u r ities shall h a ve the pow e r to a ppoint p r o x ies, w ith g e n e r a l pow e r of substitution.
S ec tion 8.8. S ec t i on H e a din g s; G e nd e r a nd Numb e r . S ec tion h ea di n g s in these B y l a ws are for c on v e nience of r e f e r e n c e on l y a nd shall not be g iven a n y subst a ntive e ff e c t in limiting o r othe r wise c onstrui n g a n y p r ovision h e r e in. The use of a n y g e nder in these B y la w s will be d ee med to include both g e n d e rs wh e n a ppropri a t e , a nd the use of the si ng ular numb e r will be d ee med to include the p l u ra l wh e n a p p rop r iat e , a n d vice v e r s a in ea c h inst a n ce .
S ec tion 8.9. I n c onsiste n t P rovision s . I n the e v e n t that a n y p r ovision of these B y la w s is or b ec omes inc o nsistent wi t h a n y p r ovision of the Certifi ca te of I n c o r p o r a tion, the De law a re L a w o r a n y other a ppli ca b l e la w , the p r ovision o f these B y l a ws shall not b e g iven a n y e ffe c t to the e x tent of such inconsist e n c y but shall oth e r w ise be g iven full fo rc e a nd e ff e c t.
AR T I C L E 9
AME N DME N TS
S ec tion 9.1. Am e ndment s . Th e se B y l a ws or a n y of them m a y be a l t e r e d, a men d e d or r e p ea l e d, or n e w b y la w s m a y b e mad e , b y the st o c kholde r s e ntitl e d to vote the re on a t a n y a n nu a l or spe c ial m ee ti n g thereof or b y t h e B o a rd o f D i r e c tors. Unl e ss a h i g h e r p e r c e n t a g e is r e quir e d
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b y the C e rtifi c a te of I n c o r por a t i on a s to a n y ma t ter that is the subj e c t of these B y l a ws, a ll s u c h a mendm e nts b y t h e sto c kholde r s must be a ppro v e d b y the a f f irmative vote of the hold e rs of not less than e i g h t y p e r ce nt ( 80%) of the to t a l vot i ng pow e r of a ll outs t a nding sha re s of ca pi t a l sto c k of the Co r por a t i on then e nt i t l e d to vote g e n e r a l l y in the e le c t i on of dir e c to r s, vot i ng togeth e r a s a sin g le c l a ss. I n f u r the r a n c e a nd not in l i m i tation of the po w e rs c o n f e r r e d b y statut e , t h e B o a rd o f Dir e c tors of t h e Co r porat i on is e x p re ss l y a uthor i z e d to mak e , a l t e r, a m e nd, c h a n g e , a dd to or r e p ea l the s e B y l a ws b y t he a f f ir m a t i ve vote of a majo r i t y of the to t a l number of dir e c tors then in o f fi c e without a n y ac t i on on the p a rt of the stock h olde r s.
Adopt e d b y t h e B o a rd of Dir e c tors
E f f e c t i ve Nov e mb e r 14, 2017
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Exhibit 3.2
AMENDED AND RESTATED CERTIFICATE OF INCORPORATION
OF
ENO V A INTERNATIONAL, INC.
Enova International, Inc., a corporation organized and existing under and by virtue of the provisions of the General Corporation Law of the State of Delaware,
DOES HEREBY CERTIFY:
FIRST: The name of the corporation is Enova International, Inc. (the “ Corporation ”) and that the original Certificate of Incorporation of the Corporation was filed with the Secretary of State of the State of Delaware on September 7, 2011, that a Certificate of Amendment to the original Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on September 12, 2 0 11, and Amended and Restated Certificate of Incorporation to the Amended Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on October 14, 2014.
SECOND: This Amended and Restated Certificate of Incorporation has been duly adopted by the Board of Directors of the Corporation and filed with the Secretary of State of the State of Delaware on November 14, 2017, in accordance with Sections 141(f), 242, and 245 of the General Corporation Law of the State of Delaware, and by the stockholder of the Corporation in accordance with Sections 228, 242, and 245 of the General Corporation Law of the State of Delaware, and amends and supersedes in its entirety the Certificate of Incorporation, as amended, of the Corporation.
THIRD: The Certificate of Incorporation, as amended, of the Corporation is hereby amended and restated in its entirety to read as follows:
ARTICLE I
NAME
The name of the corporation is Enova International, Inc. (the “ Corporation ”).
ARTICLE II
REGISTERED OFFICE AND AGENT
The address of the Corporation's registered office in the State of Delaware is 1209 Orange Street, Wilmington, County of New Castle, Delaware 19801. The name of its registered agent at such address is Corporate Trust Center.
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PURPOSE AND POWERS
The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware as the same exists or may hereafter be amended (" Delaware Law ").
ARTICLE IV
CAPITAL STOCK
(A) Authorized Shares.
(1) Classes of Stock. The total number of shares of stock that the Corporation shall have authority to issue is 275,000,000 shares, consisting of 250,000,000 shares of common stock, par value $0.00001 per share (“Common Stock”), and 25,000,000 shares of preferred stock, par value $0.00001 per share (“Preferred Stock”).
(2) Preferred Stock. The Preferred Stock may be issued from time to time and in one or more classes or series. The Board of Directors is hereby empowered, without any action or vote by the Corporation's stockholders, to authorize by resolution or resolutions, and by filing of a Certificate of Designations pursuant to the requirements of Delaware Law, from time to time the issuance of one or more classes or series of Preferred Stock and to fix the designations, powers, preferences and relative, participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof, if any, with respect to each such class or series of Preferred Stock and the number of shares constituting each such class or series, and to increase or decrease the number of shares of any such class or series to the extent permitted by Delaware Law. In the event that the number of shares of any class or series of Preferred Stock shall be so decreased, the shares constituting such decrease shall resume the status which such shares had prior to the adoption of the resolution originally fixing the number of shares of such class or series of Preferred Stock, subject to the requirements of Delaware Law.
(B) Voting Rights. Each holder of Common Stock, as such, shall be entitled to one vote for each share of Common Stock held of record by such holder on all matters on which stockholders generally are entitled to vote; provided, however, that, except as otherwise required by Delaware Law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this Certificate of Incorporation (including any Certificate of Designations relating to any class or series of Preferred Stock) that relates solely to the terms of one or more outstanding class or series of Preferred Stock if the holders of such affected class or series are entitled, either separately or together with the holders of one or more other such class or series of Preferred Stock, to vote thereon pursuant to this Certificate of Incorporation (including any Certificate of Designations relating to any class or series of Preferred Stock) or pursuant to Delaware Law.
ARTICLE V
BYLAWS
In furtherance and not in limitation of the powers conferred by statute, the Board of Directors shall have the power to adopt, amend or repeal the bylaws of the Corporation, without any action on the part of the stockholders. The stockholders may adopt, amend or repeal the bylaws of the
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Corporation only with the affirmative vote of the holders of not less than eighty percent (80%) of the total voting power of all outstandi ng securities of the Corporation then entitled to vote generally
ARTICLE VI
BOARD OF DIRECTORS
(A) Power of the Board of Directors. The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors.
(B) Number of Directors. The number of directors which shall constitute the entire Board of Directors shall be fixed exclusively by resolution adopted from time to time by the affirmative vote of a majority of the Board of Directors.
(C) Voting. There shall be no cumulative voting in the election of directors. Election of directors need not be by written ballot unless the bylaws of the Corporation so provide.
(D) Vacancies. Vacancies on the Board of Directors resulting from death, resignation, removal or otherwise and newly created directorships resulting from any increase in the number of directors shall, except as otherwise provided by Delaware Law or any Certificate of Designations, be filled solely by a majority of the directors then in office (although less than a quorum) or by the sole remaining director.
(E) Preferred Stock Directors. Notwithstanding anything else contained herein, whenever the holders of one or more classes or series of Preferred Stock shall have the right, voting separately as a class or series, to elect directors, the election, term of office, filling of vacancies, removal and other features of such directorships shall be governed by the terms of the resolution or resolutions adopted by the Board of Directors pursuant to Article IV applicable thereto and by the applicable Certificate of Designations, and such directors so elected shall not be subject to the provisions of this Article VI unless otherwise provided therein.
ARTICLE VII
EXISTENCE
The Corporation shall have perpetual existence.
ARTICLE VIII
LIMITATION ON LIABILITY AND INDEMNIFICATION
(A) Elimination of Liability. A director of the Corporation shall not be liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director to the fullest extent permitted by Delaware Law.
(B) Right to Indemnification.
1. Each person (and the heirs, executors or administrators of such person) who was or is a party or is threatened to be made a party to, or is involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by reason of the fact that such person is or was a director or officer of the Corporation or while serving as a director or officer of the Corporation is or was serving at the request of the Corporation as a
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director or officer of another corporation, partnership, joint venture, trust or other enterprise, shall be indemnified and held harmless by the Corporation to t he fullest extent permitted by Delaware Law. The right to indemnification conferred in this Article VIII shall also include the right to be paid by the Corporation all of the costs, fees and the expenses incurred in connection with any such action, suit or proceeding in advance of its final disposition to the fullest extent permitted by Delaware Law. The termination of any such action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that such person is not entitled to indemnification hereunder. To the full est extent permitted by Delaware Law, any present or former director or officer of the Corporation who brings a claim against the Corporation to enforce such person's rights under this Article VIII shall be entitled to the advan cement of expenses and, to the extent successful, indemnification by the Corporation in connection with the prosecution of such claim. The right to indemnification and advancement conferred in this Article VIII shall be a contract right.
2. The Corporation may, by action of its Board of Directors, provide indemnification to such of the employees and agents of the Corporation to such extent and to such effect as the Board of Directors shall determine to be appropriate and authorized by Delaware Law.
(C) Insurance. The Corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss incurred by such person in any such capacity or arising out of such person's status as such, whether or not the Corporation would have the power to indemnify such person against such liability under Delaware Law.
(D) Nonexclusivity of Rights. The rights and authority conferred in this Article VIII shall not be exclusive of any other right to advancement or indemnification that any person may otherwise have or hereafter acquire.
(E) Preservation of Rights. Neither the amendment nor repeal of this Article VIII, nor the adoption of any provision of this Certificate of Incorporation or the bylaws of the Corporation, nor, to the fullest extent permitted by Delaware Law, any modification of law, shall adversely affect any right or protection of any person granted pursuant hereto existing at, or arising out of or related to any event, act or omission that occurred prior to, the time of such amendment, repeal, adoption or modification (regardless of when any proceeding (or part thereof) relating to such event, act or omission arises or is first threatened, commenced or completed). The rights conferred in this Article VIII still continue as to any person who has ceased to be a director or officer of the Corporation.
ARTICLE IX
MEETINGS OF STOCKHOLDERS
(A) Annual Meetings. The annual meeting of stockholders for the election of directors to succeed those whose terms expire and for the transaction of such other business as may properly come before the meeting shall be held at such place, on such date, and at such time as the Board of Directors shall fix.
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(B) Special Meetings. Special meetings of the stockholders may be called by a majority of the Board of Directors, the Chairman of the Board of Directors, the Chief Executive Officer, the President or the Secretary of the Corporation and may not be called by any other person.
(C) No Actions by Written Consent. Subject to the rights of the holders of any class or series of Preferred Stock then outstanding, as may be set forth in the Certificate of Designations relating to such Preferred Stock, any action required or permitted to be taken at any annual or special meeting of stockholders may be taken only upon the vote of stockholders at an annual or special meeting duly noticed and called in accordance with Delaware Law and this Article IX and may not be taken by written consent of stockholders without a meeting.
ARTICLE X
FORUM SELECTION
Unless the Corporation consents in writing to the selection of a different forum, the Court of Chancery of the State of Delaware shall, to the fullest extent permitted by law, be the sole and exclusive forum for: (i) any derivative action or proceeding brought on behalf of the Corporation; (ii) any action asserting a claim of breach of fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or the Corporation's stockholders; (iii) any action asserting a claim arising pursuant to any provision of Delaware Law, this Certificate of Incorporation or the bylaws of the Corporation (as the same may be amended from time to time); or (iv) any action asserting a claim governed by the internal affairs doctrine, except as to each of (i) through (iv) above, for any claim (A) as to which the Court of Chancery determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery, or (C) for which the Court of Chancery does not have subject matter jurisdiction; provided , that , if and only if the Court of Chancery of the State of Delaware dismisses any such action for lack of jurisdiction, such action may be brought in another state court sitting in the State of Delaware or, if no state court located within the State of Delaware has jurisdiction, the federal district court for the District of Delaware. If any provision or provisions of this Article X shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Article X (including, without limitation, each portion of any sentence of this Article X containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired thereby. Any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Article X.
ARTICLE XI
CERTAIN CONTRACTS AND TRANSACTIONS
No contract or other transaction between the Corporation and any other corporation shall be affected or invalidated by the fact that one or more of the directors of the Corporation is or are interested in, or is a director or officer of, or are directors or officers of, such other corporation, and no contract
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or other transaction between the Corporation and any other person or firm shall be affected or invalidated by the fact that one or more of the directors of the Corporation is a party to, or are parties to, or interested in, such contract or transaction; provided, that in each such case the nature and extent of the interest of such director in the contract or other transaction and the fact that such director is a director or officer of such other corporation is known to the Board of Directors or is disclosed at the meeting of the Board of Directors or a committee thereof at which the contract or other transaction is authorized.
ARTICLE XII
AMENDMENTS
The Corporation reserves the right to amend this Certificate of Incorporation in any manner permitted by Delaware Law and all rights and powers conferred upon stockholders herein are granted subject to this reservation. Notwithstanding the foregoing, the provisions set forth in Articles IV(B), V, VI, VIII, IX, X and this Article XII may not be repealed or amended in any respect, and no other provision may be adopted, amended or repealed which would be inconsistent with or have the effect of modifying or permitting the circumvention of the provisions set forth in Articles IV(B), V, VI, VIII, IX, X and this Article XII, unless such action is approved by the affirmative vote of the holders of not less than eighty percent (80%) of the total voting power of all outstanding shares of capital stock of the Corporation then entitled to vote generally in the election of directors, voting together as a single class.
FOURTH: This Amended and Restated Certificate of Incorporation shall become effective at 12:01 a.m. Eastern time on November 14, 2017.
IN WITNESS WHEREOF, the undersigned has set forth her hand this 14th day of November, 2017.
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By: |
/s/ Lisa M. Young |
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Lisa M. Young, General Counsel and Secretary |
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