Attached files
file | filename |
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S-1/A - S-1/A - Glori Energy Inc. | h84810a3sv1za.htm |
EX-4.7 - EX-4.7 - Glori Energy Inc. | h84810a3exv4w7.htm |
EX-4.8 - EX-4.8 - Glori Energy Inc. | h84810a3exv4w8.htm |
EX-3.2 - EX-3.2 - Glori Energy Inc. | h84810a3exv3w2.htm |
EX-3.3 - EX-3.3 - Glori Energy Inc. | h84810a3exv3w3.htm |
EX-4.3 - EX-4.3 - Glori Energy Inc. | h84810a3exv4w3.htm |
EX-3.5 - EX-3.5 - Glori Energy Inc. | h84810a3exv3w5.htm |
EX-3.1 - EX-3.1 - Glori Energy Inc. | h84810a3exv3w1.htm |
EX-4.9 - EX-4.9 - Glori Energy Inc. | h84810a3exv4w9.htm |
EX-4.2 - EX-4.2 - Glori Energy Inc. | h84810a3exv4w2.htm |
EX-23.1 - EX-23.1 - Glori Energy Inc. | h84810a3exv23w1.htm |
EX-23.2 - EX-23.2 - Glori Energy Inc. | h84810a3exv23w2.htm |
EX-10.6 - EX-10.6 - Glori Energy Inc. | h84810a3exv10w6.htm |
Exhibit 3.4
AMENDED AND RESTATED
BYLAWS
of
GLORI ENERGY INC.
Adopted as of []
(to be effective upon the closing of the Corporations initial public offering)
(to be effective upon the closing of the Corporations initial public offering)
ARTICLE I MEETINGS OF STOCKHOLDERS
1.1 Annual Meetings of Stockholders. The annual meeting of the stockholders of Glori Energy
Inc. (the Corporation) shall be held on such day as may be designated from time to time by the
Board of Directors of the Corporation (the Board of Directors) and stated in the notice of the
meeting, and on any subsequent day or days to which such meeting may be adjourned, for the purposes
of electing directors and of transacting such other business as may properly come before the
meeting. The Board of Directors shall designate the place, which may be any place within or
without the State of Delaware as the Board of Directors may designate, and time for the holding of
such meeting, and not less than ten (10) days nor more than sixty (60) days notice shall be given
to the stockholders of record as of the record date for the meeting of the time and place so fixed.
1.2 Special Meetings of Stockholders. Special meetings of the stockholders may be called at
any time by the Board of Directors pursuant to a resolution approved by a majority of the entire
Board of Directors. The Board of Directors shall designate the place, which may be any place
within or without the State of Delaware as the Board of Directors may designate, and time for the
holding of such meeting, and not less than ten (10) days nor more than sixty (60) days notice shall
be given to the stockholders of record as of the record date for the meeting of the time and place
so fixed.
1.3 Notice of Stockholder Business and Nominations.
(a) Annual Meetings of Stockholders.
(i) Nominations of persons for election to the Board of Directors and the proposal of business
to be considered by the stockholders may be made at an annual meeting of stockholders only (A)
pursuant to the Corporations notice of meeting (or any supplement thereto), (B) by or at the
direction of the Board of Directors, or (C) by any stockholder of the Corporation who (1) was a
stockholder of record of the Corporation at the time the notice provided for in this Section 1.3 is
delivered to the Secretary of the Corporation and at the time of the annual meeting, (2) shall be
entitled to vote at such meeting, and (3) complies with the notice procedures set forth in this
Section 1.3 as to such nomination or business. Clause (C) above shall be the exclusive means for a
stockholder to make nominations or submit business (other than matters properly brought under Rule
14a-8 (or any successor thereto) under the Securities Exchange Act of 1934, as amended from time to
time (the
Exchange Act), and indicated in the Corporations notice of meeting) before an annual
meeting of stockholders.
(ii) Without qualification, for nominations or any other business to be properly brought
before an annual meeting by a stockholder pursuant to Section 1.3(a)(i)(C), the stockholder, in
addition to any other applicable requirements, must have given timely notice thereof in writing to
the Secretary of the Corporation and any such proposed business must constitute a proper matter for
stockholder action under the General Corporation Law of the State of Delaware, as amended (the
DGCL). To be timely, a stockholders notice must be delivered to the Secretary of the
Corporation at the principal executive offices of the Corporation not later than the close of
business on the ninetieth (90th) day nor earlier than the close of business on the one hundred
twentieth (120th) day prior to the first anniversary of the preceding years annual meeting
(provided, however, that in the event that the date of the annual meeting is more than thirty (30)
days before or more than sixty (60) days after such anniversary date, notice by the stockholder
must be so delivered not earlier than the close of business on the one hundred twentieth (120th)
day prior to such annual meeting and not later than the close of business on the later of the
ninetieth (90th) day prior to such annual meeting or the tenth (10th) day following the day on
which public announcement of the date of such meeting is first made by the Corporation). In no
event shall the public announcement of an adjournment or postponement of the annual meeting of
stockholders commence a new time period (or extend any time period) for the giving of a
stockholders notice as described above. To be in proper form, a stockholders notice to the
Secretary (whether pursuant to this Section 1.3(a) or Section 1.3(b) shall set forth:
(A) as to each person, if any, whom the stockholder proposes to
nominate for election as a director (1) all information relating to such
person that is required to be disclosed in solicitations of proxies for
election of directors in an election contest, or is otherwise required, in
each case pursuant to and in accordance with Section 14 of the Exchange Act
and the rules and regulations promulgated thereunder, (2) such persons
written consent to being named in the proxy statement as a nominee and to
serving as a director if elected, (3) a description of all direct and
indirect compensation and other material monetary agreements, arrangements
and understandings during the past three years, and any other material
relationships, between or among such stockholder and beneficial owner, if
any, and their respective affiliates and associates, or others acting in
concert therewith, on the one hand, and each proposed nominee, and his or
her respective affiliates and associates, or others acting in concert
therewith, on the other hand, including, without limitation all information
that would be required to be disclosed pursuant to Rule 404 promulgated
under Regulation S-K if the stockholder making the nomination and any
beneficial owner on whose behalf the nomination is made, if any, or any
affiliate or associate thereof or person acting in concert therewith, were
the registrant for purposes of such rule and the nominee were a director
or executive officer of such registrant; and (4) with respect to each
nominee for election or reelection to the Board of
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Directors, include a completed and signed questionnaire, representation
and agreement required by Section 1.4;
(B) if the notice relates to any business (other than the nomination of
persons for election as directors) that the stockholder proposes to bring
before the meeting, (1) a brief description of the business desired to be
brought before the annual meeting, (2) the reasons for conducting such
business at the annual meeting, (3) the text of the proposal or business
(including the text of any resolutions proposed for consideration and in the
event that such business includes a proposal to amend the Bylaws of the
Corporation, the language of the proposed amendment), (4) any material
interest in such business of such stockholder and the beneficial owner, if
any, on whose behalf the proposal is made, and (5) a description of all
agreements, arrangements and understandings between such stockholder and
beneficial owner, if any, and any other person or persons (including their
names) in connection with the proposal of such business by such stockholder;
and
(C) as to the stockholder giving the notice and the beneficial owner,
if any, on whose behalf the nomination or proposal is made (1) the name and
address of such stockholder, as they appear on the Corporations books, and
of such beneficial owner, if any, (2)[a] the class or series and number of
shares of capital stock of the Corporation that are, directly or indirectly,
owned beneficially and of record by such stockholder and by such beneficial
owner, [b] any option, warrant, convertible security, stock appreciation
right, or similar right with an exercise or conversion privilege or a
settlement payment or mechanism at a price related to any class or series of
capital stock of the Corporation, whether or not such instrument or right
shall be subject to settlement in the underlying class or series of capital
stock of the Corporation or otherwise (a Derivative Instrument) directly
or indirectly owned beneficially by such stockholder and by such beneficial
owner, if any, and any other direct or indirect opportunity held or owned
beneficially by such stockholder and by such beneficial owner, if any, to
profit or share in any profit derived from any increase or decrease in the
value of shares of the Corporation, [c] any proxy, contract, arrangement,
understanding, or relationship pursuant to which such stockholder or
beneficial owner, if any, has a right to vote any shares of any security of
the Corporation, [d] any short interest in any security of the Corporation
(for purposes of this Section 1.3, a person shall be deemed to have a short
interest in a security if such person directly or indirectly, through a
contract, arrangement, understanding, relationship or otherwise, has the
opportunity to profit or share in any profit derived from any decrease in
the value of the subject security), [e] any right to dividends on the shares
of capital stock of the Corporation owned beneficially by such stockholder
or such beneficial owner, if any, which right is separated or separable from
the underlying shares, [f] any proportionate interest in
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shares of capital stock of the Corporation or Derivative Instrument
held, directly or indirectly, by a general or limited partnership in which
such stockholder or such beneficial owner, if any, is a general partner or
with respect to which such stockholder or such beneficial owner, if any,
directly or indirectly, beneficially owns an interest in a general partner,
and [g] any performance-related fees (other than an asset-based fee) to
which such stockholder or such beneficial owner, if any, is entitled to
based on any increase or decrease in the value of shares of the Corporation
or Derivative Instruments, if any, in each case with respect to the
information required to be included in the notice pursuant to clauses [a]
through [g] above, as of the date of such notice and including, without
limitation, any such interests held by members of such stockholders or such
beneficial owners immediate family sharing the same household (which
information shall be supplemented by such stockholder and such beneficial
owner, if any, [i] not later than 10 days after the record date for the
annual meeting to disclose such ownership as of the record date, [ii] 10
days before the annual meeting date, and [iii] immediately prior to the
commencement of the annual meeting, by delivery to the Secretary of the
Corporation of such supplemented information), (3) any other information
relating to such stockholder and beneficial owner, if any, that would be
required to be disclosed in a proxy statement or other filings required to
be made in connection with solicitation of proxies for election of directors
in a contested election pursuant to Section 14 of the Exchange Act and the
rules and regulations promulgated thereunder, (4) a representation that the
stockholder is a holder of record of stock of the Corporation entitled to
vote at such meeting and intends to appear in person or by proxy at the
meeting to propose such business or nomination, and (5) a representation
whether the stockholder or the beneficial owner, if any, intends or is part
of a group that intends [i] to deliver a proxy statement and/or form of
proxy to holders of at least the percentage of the Corporations outstanding
capital stock required to approve or adopt the proposal or elect the nominee
or [ii] otherwise to solicit proxies from stockholders in support of such
proposal or nomination.
(D) such other information as the Corporation may reasonably require or
that is otherwise reasonably necessary (1) to determine the eligibility of
such proposed nominee to serve as a director of the Corporation, (2) to
determine whether such nominee qualifies as an independent director or
audit committee financial expert under applicable law, securities exchange
rule or regulation, or any publicly-disclosed corporate governance guideline
or committee charter of the Corporation; and (3) that could be material to a
reasonable stockholders understanding of the independence and
qualifications, or lack thereof, of such nominee.
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(iii) Notwithstanding anything in the second sentence of Section 1.3(a)(ii) to the contrary,
in the event that the number of directors to be elected to the Board of Directors of the
Corporation at an annual meeting is increased and there is no public announcement by the
Corporation naming all of the nominees for director or specifying the size of the increased Board
of Directors at least one hundred (100) days prior to the first anniversary of the preceding years
annual meeting, a stockholders notice required by this Section 1.3 shall also be considered
timely, but only with respect to nominees for any new positions created by such increase, if it
shall be delivered to the Secretary of the Corporation at the principal executive offices of the
Corporation not later than the close of business on the tenth (10th) day following the day on which
such public announcement is first made by the Corporation.
(b) Special Meetings of Stockholders. Only such business shall be conducted at a
special meeting of stockholders as shall have been brought before the meeting pursuant to the
Corporations notice of meeting. Nominations of persons for election to the Board of Directors may
be made at a special meeting of stockholders at which directors are to be elected pursuant to the
Corporations notice of meeting (i) by or at the direction of the Board of Directors or (ii)
provided that the Board of Directors has determined that the directors shall be elected at such
meeting, by any stockholder of the Corporation who is a stockholder of record at the time the
notice provided for in this Section 1.3 is delivered to the Secretary of the Corporation and at the
time of the special meeting, who is entitled to vote at the meeting and upon such election, and who
complies with the notice procedures set forth in this Section 1.3. In the event the Corporation
calls a special meeting of stockholders for the purpose of electing one or more directors to the
Board of Directors, any such stockholder entitled to vote in such election of directors may
nominate a person or persons (as the case may be) for election to such position(s) as specified in
the Corporations notice of meeting, if the stockholders notice in the same form as required by
paragraph (a)(ii) of this Section 1.3 with respect to any nomination (including the completed and
signed questionnaire, representation and agreement required by Section 1.4) shall be delivered to
the Secretary at the principal executive offices of the Corporation not earlier than the close of
business on the one hundred twentieth (120th) day prior to such special meeting and not later than
the close of business on the later of the ninetieth (90th) day prior to such special meeting or the
tenth (10th) day following the day on which public announcement is first made of the date of the
special meeting and of the nominees proposed by the Board of Directors to be elected at such
meeting. In no event shall the public announcement of an adjournment or postponement of a special
meeting commence a new time period (or extend any time period) for the giving of a stockholders
notice as described above.
(c) General.
(i) Subject to Section 2.4, only such persons who are nominated in accordance with the
procedures set forth in this Section 1.3 shall be eligible to be elected at an annual or special
meeting of stockholders of the Corporation to serve as directors and only such business shall be
conducted at a meeting of stockholders as shall have been brought before the meeting in accordance
with the procedures set forth in this Section 1.3. Except as otherwise provided by law, the
Certificate of Incorporation of the Corporation, as amended (the Certificate of Incorporation) or
these Bylaws, the Chairman of the meeting shall have the power and duty (A) to determine whether a
nomination or any business proposed to be brought
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before the meeting was made or proposed, as the case may be, in accordance with the procedures
set forth in this Section 1.3 and (B) if any proposed nomination or business was not made or
proposed in compliance with this Section 1.3, to declare that such nomination shall be disregarded
or that such proposed business shall not be transacted. Notwithstanding the foregoing provisions
of this Section 1.3, unless otherwise required by law, if the stockholder (or a qualified
representative of the stockholder) does not appear at the annual or special meeting of stockholders
of the Corporation to present a nomination or proposed business, such nomination shall be
disregarded and such proposed business shall not be transacted, notwithstanding that proxies in
respect of such vote may have been received by the Corporation. For purposes of this Section 1.3,
to be considered a qualified representative of the stockholder, a person must be authorized by a
writing executed by such stockholder or an electronic transmission delivered by such stockholder to
act for such stockholder as proxy at the meeting of stockholders and such person must produce such
writing or electronic transmission, or a reliable reproduction of the writing or electronic
transmission, at the meeting of the stockholders.
(ii) For purpose of this Section 1.3, public announcement shall include disclosure in a
press release reported by the Dow Jones News Service, Associated Press, or comparable national news
service or in a document publicly filed by the Corporation with the Securities and Exchange
Commission pursuant to Section 13, 14, or 15(d) of the Exchange Act and the rules and regulations
promulgated thereunder.
(iii) Nothing in this Section 1.3, shall be deemed to affect any rights (A) of stockholders to
request inclusion of proposals or nominations in the Corporations proxy statement pursuant to Rule
14a-8 (or any successor thereto) promulgated under the Exchange Act or (B) of the holders of any
series of Preferred Stock to nominate and elect directors pursuant to and to the extent provided in
any applicable provisions of the Certificate of Incorporation.
1.4 Submission of Questionnaire, Representation and Agreement. To be eligible to be a nominee
for election or reelection as a director of the Corporation, a person must deliver (in accordance
with the time periods prescribed for delivery of notice under Section 1.3 of these Bylaws) to the
Secretary at the principal executive offices of the Corporation a written questionnaire with
respect to the background and qualification of such person and the background of any other person
or entity on whose behalf the nomination is being made (which questionnaire shall be provided by
the Secretary upon written request) and a written representation and agreement (in the form
provided by the Secretary upon written request) that such person (a) is not and will not become a
party to (i) any agreement, arrangement or understanding with, and has not given any commitment or
assurance to, any person or entity as to how such person, if elected as a director of the
Corporation, will act or vote on any issue or question (a Voting Commitment) that has not been
disclosed to the Corporation or (ii) any Voting Commitment that could limit or interfere with such
persons ability to comply, if elected as a director of the Corporation, with such persons
fiduciary duties under applicable law, (b) is not and will not become a party to any agreement,
arrangement or understanding with any person or entity other than the Corporation with respect to
any direct or indirect compensation, reimbursement or indemnification in connection with service or
action as a director that has not been disclosed therein, and (c) in such persons individual
capacity and on behalf of any person or entity on whose behalf the nomination is being made, would
be in compliance, if elected as a
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director of the Corporation, and will comply with all applicable publicly disclosed corporate
governance, conflict of interest, confidentiality and stock trading policies and guidelines of the
Corporation.
1.5 Record Date. The Board of Directors may fix a date, not less than ten (10) or more than
sixty (60) days preceding the date of any meeting of stockholders, as a record date for the
determination of stockholders entitled to notice of, or to vote at, any such meeting. The Board of
Directors shall not close the books of the Corporation against transfers of shares during the whole
or any part of such period.
1.6 Proxies. The notice of every meeting of the stockholders may be accompanied by a form of
proxy approved by the Board of Directors in favor of such person or persons as the Board of
Directors may select.
1.7 Quorum and Voting. A majority of the outstanding shares of stock of the Corporation
entitled to vote, present in person or represented by proxy, regardless of whether the proxy has
authority to vote on all matters, shall constitute a quorum at any meeting of the stockholders, and
the stockholders present at any duly convened meeting may continue to do business until adjournment
notwithstanding any withdrawal from the meeting of holders of shares counted in determining the
existence of a quorum. If a separate vote by one or more classes or series is required, the
holders of shares entitled to cast a majority of the total votes entitled to be cast by the holders
of the shares of the class or classes or series, present in person or represented by proxy, shall
constitute a quorum entitled to take action with respect to that vote on that matter. If a quorum
shall fail to attend any meeting, the chairman of the meeting may adjourn the meeting to another
place, if any, date and time. Directors shall be elected by a plurality of the votes cast in the
election. For all matters as to which no other voting requirement is specified by the DGCL, the
Certificate of Incorporation, or these Bylaws, the affirmative vote required for stockholder action
shall be that of a majority of the shares present in person or represented by proxy at the meeting
(as counted for purposes of determining the existence of a quorum at the meeting). In the case of
a matter submitted for a vote of the stockholders as to which a stockholder approval requirement is
applicable under the stockholder approval policy of the New York Stock Exchange or any other
exchange or quotation system on which the capital stock of the Corporation is quoted or traded, the
requirements of Rule 16b-3 under the Exchange Act or any provision of the Internal Revenue Code, in
each case for which no higher voting requirement is specified by the DGCL, the Certificate of
Incorporation or these Bylaws, the vote required for approval shall be the requisite vote specified
in such stockholder approval policy, Rule 16b-3 or Internal Revenue Code provision, as the case may
be (or the highest such requirement if more than one is applicable). For the approval of the
appointment of independent public accountants (if submitted for a vote of the stockholders), the
vote required for approval shall be a majority of the votes cast on the matter.
1.8 Adjournment. Any meeting of the stockholders may be adjourned from time to time, without
notice other than by announcement at the meeting at which such adjournment is taken, and at any
such adjourned meeting at which a quorum shall be present any action may be taken that could have
been taken at the meeting originally called; provided, that if the adjournment is for more than
thirty (30) days, or if after the adjournment a new record date is
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fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each
stockholder of record entitled to vote at the adjourned meeting.
1.9 Conduct of Business. Meetings of the stockholders shall be presided over by the Chairman
of the Board of Directors, if any, or in his or her absence by the Vice Chairman of the Board of
Directors, if any, or in the absence of the foregoing persons by a chairman designated by the Board
of Directors, or in the absence of such designation by a chairman chosen at the meeting. The
chairman of the meeting shall appoint a person to act as secretary of each meeting. The chairman
of any meeting of stockholders of the Corporation shall determine the order of business and the
rules of procedure for the conduct of such meeting, including the manner of voting and the conduct
of discussion as he or she determines to be in order. The chairman shall have the power to adjourn
the meeting to another place, if any, date and time. The date and time of the opening and closing
of the polls for each matter upon which the stockholders will vote at the meeting shall be
announced at the meeting. Except to the extent inconsistent with such rules and regulations as
adopted by the Board of Directors, the chairman of the meeting shall have the right and authority
to convene and (for any or no reason) to adjourn the meeting, to prescribe such rules, regulations
and procedures and to do all such acts as, in the judgment of such chairman, are appropriate for
the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the
Board of Directors or prescribed by the chairman of the meeting, may include, without limitation,
the following: (i) the establishment of an agenda or order of business for the meeting; (ii) rules
and procedures for maintaining order at the meeting and the safety of those present; (iii)
limitations on attendance at or participation in the meeting to stockholders entitled to vote at
the meeting, their duly authorized and constituted proxies or such other persons as the chairman of
the meeting shall determine; (iv) restrictions on entry to the meeting after the time fixed for the
commencement thereof; and (v) limitations on the time allotted to questions or comments by
participants. The chairman of the meeting of stockholders, in addition to making any other
determinations that may be appropriate to the conduct of the meeting, shall, if the facts warrant,
determine and declare to the meeting that a nomination or matter of business was not properly
brought before the meeting and if such chairman should so determine, such chairman shall so declare
to the meeting and any such matter or business not properly brought before the meeting shall not be
transacted or considered.
ARTICLE II DIRECTORS
2.1 Powers. The business and affairs of the Corporation shall be managed by or under the
direction of the Board of Directors, except as may be otherwise provided in the DGCL or the
Certificate of Incorporation.
2.2 Number of
Directors. The Board of Directors shall initially
consist of eight members,
each of whom shall be a natural person. Subject to the rights of the holders of any series of
Preferred Stock to elect directors under specified circumstances, the number of directors shall be
fixed, and may be increased or decreased from time to time, exclusively by a resolution adopted by
a majority of the entire Board of Directors. No reduction of the authorized number of directors
shall have the effect of removing any director before that directors term of office expires.
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2.3 Election, Qualification and Term of Office of Directors. Except as provided in Section
2.4, and subject to Article I, directors shall be elected at each annual meeting of stockholders.
Directors need not be stockholders unless so required by the Certificate of Incorporation or these
Bylaws. The Certificate of Incorporation or these Bylaws may prescribe other qualifications for
directors. Each director shall hold office until such directors successor is elected and
qualified or until such directors earlier death, resignation or removal.
2.4 Resignation and Vacancies. Any director may resign at any time upon notice given in
writing or by electronic transmission to the Corporation. A resignation is effective when the
resignation is delivered unless the resignation specifies a later effective date or an effective
date determined upon the happening of an event or events. A resignation which is conditioned upon
the director failing to receive a specified vote for reelection as a director may provide is
irrevocable. Except as otherwise provided by any resolution or resolutions providing for the
issuance of a class or series of Preferred Stock adopted by the Board of Directors, newly created
directorships resulting from any increase in the authorized number of directors or any vacancies in
the Board of Directors resulting from death, resignation, retirement, disqualification, removal
from office or other cause shall be filled solely by the affirmative vote of a majority of the
remaining directors then in office, even though less than a quorum of the Board of Directors, or by
the sole remaining director. Any director so chosen shall hold office until his or her successor
shall be elected and qualified.
If at any time, by reason of death or resignation or other cause, the Corporation should have
no directors in office, then any officer may call a special meeting of stockholders in accordance
with the provisions of the Certificate of Incorporation or these Bylaws, or may apply to the Court
of Chancery for a decree summarily ordering an election as provided in Section 211 of the DGCL.
A director elected to fill a vacancy shall be elected for the unexpired term of his or her
predecessor in office and until such directors successor is elected and qualified, or until such
directors earlier death, resignation or removal.
2.5 Place of Meetings; Meetings by Telephone. The Board of Directors may hold meetings, both
regular and special, either within or outside the State of Delaware.
Unless otherwise restricted by the Certificate of Incorporation or these Bylaws, members of
the Board of Directors, or any committee designated by the Board of Directors, may participate in a
meeting of the Board of Directors, or any committee, by means of conference telephone or other
communications equipment by means of which all persons participating in the meeting can hear each
other, and such participation in a meeting shall constitute presence in person at the meeting.
2.6 Conduct of Business. Meetings of the Board of Directors shall be presided over by the
Chairman of the Board of Directors, if any, or in his or her absence by the Vice Chairman of the
Board of Directors, if any, or in the absence of the foregoing persons by a chairman designated by
the Board of Directors, or in the absence of such designation by a chairman chosen at the meeting.
The chairman of the meeting shall appoint a person to act as secretary of each meeting.
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2.7 Regular Meetings; Notice. Regular meetings of the Board of Directors may be held without
notice at such time and at such place as shall from time to time be determined by the Board of
Directors.
2.8 Special Meetings; Notice. Special meetings of the Board of Directors for any purpose or
purposes may be called at any time by the Chairman of the Board of Directors, the Chief Executive
Officer, the President, or a majority of the directors.
Notice of the time and place of special meetings shall be:
(a) | delivered personally by hand, by courier or by telephone; | ||
(b) | sent by United States first-class mail, postage prepaid; | ||
(c) | sent by nationally recognized overnight delivery service for next day delivery; | ||
(d) | sent by facsimile; or | ||
(e) | sent by electronic mail, |
directed to each director at that directors address, telephone number, facsimile number or
electronic mail address, as the case may be, as shown on the Corporations records.
If the notice is (i) delivered personally by hand, by courier or by telephone, (ii) sent by
facsimile or (iii) sent by electronic mail, it shall be delivered or sent at least 24 hours before
the time of the holding of the meeting. If the notice is sent by overnight delivery service, it
shall be deposited for next day delivery at least two (2) days before the time of the holding of
the meeting. If the notice is sent by United States mail, it shall be deposited in the United
States mail at least four (4) days before the time of the holding of the meeting. Any oral notice
may be communicated to the director directly. The notice need not specify the purpose of the
meeting.
2.9 Quorum; Voting. At all meetings of the Board of Directors, a majority of the total
authorized number of directors shall constitute a quorum for the transaction of business. If a
quorum is not present at any meeting of the Board of Directors, then the directors present at the
meeting may adjourn the meeting from time to time, without notice other than announcement at the
meeting, until a quorum is present. A meeting at which a quorum is initially present may continue
to transact business notwithstanding the withdrawal of directors, if any action taken is approved
by at least a majority of the required quorum for that meeting.
The vote of a majority of the directors present at any meeting at which a quorum is present
shall be the act of the Board of Directors, except as may be otherwise specifically provided by
statute, the Certificate of Incorporation or these Bylaws.
If the Certificate of Incorporation provides that one or more directors shall have more or
less than one vote per director on any matter, every reference in these Bylaws to a majority or
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other proportion of the directors shall refer to a majority or other proportion of the votes
of the directors.
2.10 Board Action by Written Consent Without a Meeting. Unless otherwise restricted by the
Certificate of Incorporation or these Bylaws, any action required or permitted to be taken at any
meeting of the Board of Directors, or of any committee thereof, may be taken without a meeting if
all members of the Board of Directors or committee, as the case may be, consent thereto in writing
or by electronic transmission and the writing or writings or electronic transmission or
transmissions are filed with the minutes of proceedings of the Board of Directors or committee.
Such filing shall be in paper form if the minutes are maintained in paper form and shall be in
electronic form if the minutes are maintained in electronic form.
2.11 Fees and Compensation of Directors. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, the Board of Directors shall have the authority to fix the
compensation of directors.
2.12 Removal of Directors. Any director may be removed from the Board of Directors by the
stockholders of the Corporation only for cause, and in such case only by the affirmative vote of
the holders of at least a majority of the total voting power of all classes of the then outstanding
capital stock of the Corporation entitled to vote generally in the election of directors.
ARTICLE III COMMITTEES
3.1 Committees of Directors. The Board of Directors may designate one or more committees,
each committee to consist of one or more of the directors of the Corporation. The Board of
Directors may designate one or more directors as alternate members of any committee, who may
replace any absent or disqualified member at any meeting of the committee. In the absence or
disqualification of a member of a committee, the member or members of the committee present at any
meeting and not disqualified from voting, whether or not such member or members
constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the
meeting in the place of any such absent or disqualified member. Any such committee, to the extent
provided in the resolution of the Board of Directors or in these Bylaws, shall have and may
exercise all the powers and authority of the Board of Directors in the management of the business
and affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all
papers that may require it; but no such committee shall have the power or authority to (i) approve
or adopt, or recommend to the stockholders, any action or matter (other than the election or
removal of directors) expressly required by the DGCL to be submitted to stockholders for approval,
or (ii) adopt, amend or repeal any bylaw of the Corporation.
3.2 Committee Minutes. Each committee shall keep regular minutes of its meetings and report
the same to the Board of Directors when required.
3.3 Meetings and Actions of Committees. Meetings and actions of committees shall be governed
by, and held and taken in accordance with, the provisions of:
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(a) | Section 2.5 (Place of Meetings; Meetings by Telephone); | ||
(b) | Section 2.7 (Regular Meetings; Notice); | ||
(c) | Section 2.8 (Special Meetings; Notice); | ||
(d) | Section 2.9 (Quorum; Voting); | ||
(e) | Section 2.10 (Board Action by Written Consent Without a Meeting); and | ||
(f) | Section 7.5 (Waiver of Notice) |
with such changes in the context of those Bylaws as are necessary to substitute the committee and
its members for the Board of Directors and its members. However:
(a) | the time of regular meetings of committees may be determined either by resolution of the Board of Directors or by resolution of the committee; |
(b) | special meetings of committees may also be called by resolution of the Board of Directors; and |
(c) | notice of special meetings of committees shall also be given to all alternate members, who shall have the right to attend all meetings of the committee. The Board of Directors may adopt rules for the government of any committee not inconsistent with the provisions of these Bylaws. |
3.4 Subcommittees. Unless otherwise provided in the Certificate of Incorporation, these
Bylaws or the resolutions of the Board of Directors designating the committee, a committee may
create one or more subcommittees, each subcommittee to consist of one or more members of the
committee, and delegate to a subcommittee any or all of the powers and authority of the committee.
ARTICLE IV OFFICERS
4.1 Officers. The officers of the Corporation shall be a President and a Secretary. The
Corporation may also have, at the discretion of the Board of Directors, a Chairman of the Board of
Directors, a Vice Chairman of the Board of Directors, a Chief Executive Officer, one or more Vice
Presidents, a Chief Financial Officer, a General Counsel, a Treasurer, one or more Assistant
Treasurers, one or more Assistant Secretaries, and any such other officers as may be appointed in
accordance with the provisions of these Bylaws. Any number of offices may be held by the same
person. The salaries of officers appointed by the Board of Directors shall be fixed from time to
time by the Board of Directors or a committee thereof or by the officers as may be designated by
resolution of the Board of Directors.
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4.2 Appointment of Officers. The Board of Directors shall appoint the officers of the
Corporation, except such officers as may be appointed in accordance with the provisions of Section
4.3 of these Bylaws.
4.3 Subordinate Officers. The Board of Directors or the Chief Executive Officer or, in the
absence of a Chief Executive Officer, the President, may appoint, such other officers and agents as
the business of the Corporation may require. Each of such officers and agents shall hold office
for such period, have such authority, and perform such duties as are provided in these Bylaws or as
the Board of Directors, Chief Executive Officer or President may from time to time determine.
4.4 Removal and Resignation of Officers. Any officer may be removed, either with or without
cause, by an affirmative vote of the majority of the Board of Directors at any regular or special
meeting of the Board of Directors or, except in the case of an officer chosen by the Board of
Directors, by any officer upon whom such power of removal may be conferred by the Board of
Directors.
Any officer may resign at any time by giving written notice to the Corporation. Any
resignation shall take effect at the date of the receipt of that notice or at any later time
specified in that notice. Unless otherwise specified in the notice of resignation, the acceptance
of the resignation shall not be necessary to make it effective. Any resignation is without
prejudice to the rights, if any, of the Corporation under any contract to which the officer is a
party.
4.5 Vacancies in Offices. Any vacancy occurring in any office of the Corporation shall be
filled by the Board of Directors or as provided in Section 4.3.
4.6 Representation of Shares of Other Corporations. Unless otherwise directed by the Board of
Directors, the President or any other person authorized by the Board of Directors or the President
is authorized to vote, represent and exercise on behalf of the Corporation all rights incident to
any and all shares of any other corporation or corporations standing in the name of the
Corporation. The authority granted herein may be exercised either by such person directly or by
any other person authorized to do so by proxy or power of attorney duly executed by such person
having the authority.
4.7 Authority and Duties of Officers. Except as otherwise provided in these Bylaws, the
officers of the Corporation shall have such powers and duties in the management of the Corporation
as may be designated from time to time by the Board of Directors and, to the extent not so
provided, as generally pertain to their respective offices, subject to the control of the Board of
Directors.
ARTICLE V INDEMNIFICATION
5.1 Indemnification of Directors and Officers in Third Party Proceedings. Subject to the
other provisions of this Article V, the Corporation shall indemnify, to the fullest extent
permitted by the DGCL, as now or hereinafter in effect, any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative (a Proceeding) (other than an
action by or in the right of the Corporation) by reason of the fact that such person is or was a
director or
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officer of the Corporation, or is or was a director or officer of the Corporation 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 expenses (including attorneys
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such
person in connection with such Proceeding if such person acted in good faith and in a manner such
person reasonably believed to be in or not opposed to the best interests of the Corporation, and,
with respect to any criminal action or proceeding, had no reasonable cause to believe such persons
conduct was unlawful. The termination of any Proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a
presumption that the person did not act in good faith and in a manner which such person reasonably
believed to be in or not opposed to the best interests of the Corporation, and, with respect to any
criminal action or proceeding, had reasonable cause to believe that such persons conduct was
unlawful.
5.2 Indemnification of Directors and Officers in Actions by or in the Right of the
Corporation. Subject to the other provisions of this Article V, the Corporation shall indemnify,
to the fullest extent permitted by the DGCL, as now or hereinafter in effect, any person who was or
is a party or is threatened to be made a party to any threatened, pending or completed action or
suit by or in the right of the Corporation to procure a judgment in its favor by reason of the fact
that such person is or was a director or officer of the Corporation, or is or was a director or
officer of the Corporation 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 expenses (including attorneys fees) actually and reasonably incurred by such person in
connection with the defense or settlement of such action or suit if such person acted in good faith
and in a manner such person reasonably believed to be in or not opposed to the best interests of
the Corporation; except that no indemnification shall be made in respect of any claim, issue or
matter as to which such person shall have been adjudged to be liable to the Corporation unless and
only to the extent that the Court of Chancery or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all the
circumstances of the case, such person is fairly and reasonably entitled to indemnity for such
expenses which the Court of Chancery or such other court shall deem proper.
5.3 Successful Defense. To the extent that a present or former director or officer of the
Corporation has been successful on the merits or otherwise in defense of any action, suit or
proceeding described in Section 5.1 or Section 5.2, or in defense of any claim, issue or matter
therein, such person shall be indemnified against expenses (including attorneys fees) actually and
reasonably incurred by such person in connection therewith.
5.4 Indemnification of Others. Subject to the other provisions of this Article V, the
Corporation shall have power to indemnify its employees and agents to the extent not prohibited by
the DGCL or other applicable law. The Board of Directors shall have the power to delegate to such
person or persons the determination of whether employees or agents shall be indemnified.
5.5 Advanced Payment of Expenses. Expenses (including attorneys fees) incurred by an officer
or director of the Corporation in defending any Proceeding shall be paid by the Corporation in
advance of the final disposition of such Proceeding upon receipt of an
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undertaking by or on behalf of the person to repay such amounts if it shall ultimately be
determined that the person is not entitled to be indemnified under this Article V or the DGCL. Such
expenses (including attorneys fees) incurred by former directors and officers or other employees
and agents may be so paid upon such terms and conditions, if any, as the Corporation deems
appropriate.
Notwithstanding the foregoing, unless otherwise determined pursuant to Section 5.8, no advance
shall be made by the Corporation to an officer of the Corporation (except by reason of the fact
that such officer is or was a director of the Corporation, in which event this paragraph shall not
apply) in any Proceeding if a determination is reasonably and promptly made (i) by a majority vote
of the directors who are not parties to such Proceeding, even though less than a quorum, or (ii) by
a committee of such directors designated by majority vote of such directors, even though less than
a quorum, or (iii) if there are no such directors, or if such directors so direct, by independent
legal counsel in a written opinion, that facts known to the decision-making party at the time such
determination is made demonstrate clearly and convincingly that such person acted in bad faith or
in a manner that such person did not believe to be in or not opposed to the best interests of the
Corporation.
5.6 Limitation on Indemnification and Advancement of Expenses. Subject to the requirements in
Section 5.3 and the DGCL, the Corporation shall not be required to provide indemnification or, with
respect to clauses (a), (c) and (d) below, advance expenses to any person pursuant to this Article
V:
(a) in connection with any Proceeding (or part thereof) initiated by such person except (i) as
otherwise required by law, (ii) in specific cases if the Proceeding was authorized by the Board of
Directors, or (iii) as is required to be made under Section 5.7;
(b) in connection with any Proceeding (or part thereof) against such person providing for an
accounting or disgorgement of profits pursuant to the provisions of Section 16(b) of the Securities
Exchange Act of 1934, as amended, or similar provisions of any federal, state or local statutory
law or common law;
(c) for amounts for which payment has actually been made to or on behalf of such person under
any statute, insurance policy or indemnity provision, except with respect to any excess beyond the
amount paid; or
(d) if prohibited by applicable law.
5.7 Determination; Claim. If a claim for indemnification or advancement of expenses under
this Article V is not paid in full within 60 days after a written claim therefor has been received
by the Corporation, the claimant may file suit to recover the unpaid amount of such claim and, if
successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim.
In any such suit, the Corporation shall have the burden of proving that the claimant was not
entitled to the requested indemnification or advancement of expenses under applicable law.
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5.8 Non-Exclusivity of Rights. The indemnification and advancement of expenses provided by,
or granted pursuant to, this Article V shall not be deemed exclusive of any other rights to which
those seeking indemnification or advancement of expenses may be entitled under the Certificate of
Incorporation or any statute, bylaw, agreement, vote of stockholders or disinterested directors or
otherwise, both as to action in such persons official capacity and as to action in another
capacity while holding such office. The Corporation is specifically authorized to enter into
individual contracts with any or all of its directors, officers, employees or agents respecting
indemnification and advancement of expenses, to the fullest extent not prohibited by the DGCL or
other applicable law.
5.9 Insurance. The Corporation may 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 liability asserted against such
person and incurred by such person in any such capacity, or arising out of such persons status as
such, whether or not the Corporation would have the power to indemnify such person against such
liability under the provisions of the DGCL.
5.10 Survival. The rights to indemnification and advancement of expenses conferred by this
Article V shall continue as to a person who has ceased to be a director, officer, employee or agent
and shall inure to the benefit of the heirs, executors and administrators of such a person.
5.11 Effect of Repeal or Modification. Any repeal or modification of this Article V shall not
adversely affect any right or protection hereunder of any person in respect of any act or omission
occurring prior to the time of such repeal or modification.
5.12 Certain Definitions. For purposes of this Article V, references to the
Corporation shall include, in addition to the resulting corporation, any constituent
corporation (including any constituent of a constituent) absorbed in a consolidation or merger
which, if its separate existence had continued, would have had power and authority to indemnify its
directors, officers, employees or agents, so that any person who is or was a director, officer,
employee or agent of such constituent corporation, or is or was serving at the request of such
constituent corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, shall stand in the same position under the
provisions of this Article V with respect to the resulting or surviving corporation as such person
would have with respect to such constituent corporation if its separate existence had continued.
For purposes of this Article V, references to other enterprises shall include employee
benefit plans; references to fines shall include any excise taxes assessed on a person
with respect to an employee benefit plan; and references to serving at the request of the
Corporation shall include any service as a director, officer, employee or agent of the
Corporation which imposes duties on, or involves services by, such director, officer,
employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and
a person who acted in good faith and in a manner such person reasonably believed to be in the
interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have
acted in a manner not opposed to the best interests of the Corporation as referred to in
this Article V.
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ARTICLE VI STOCK
6.1 Stock Certificates; Partly Paid Shares. The shares of the Corporation shall be
represented by certificates, provided that the Board of Directors may provide by resolution or
resolutions that some or all of any or all classes or series of its stock shall be uncertificated
shares. Any such resolution shall not apply to shares represented by a certificate until such
certificate is surrendered to the Corporation. Every holder of stock represented by certificates
shall be entitled to have a certificate signed by, or in the name of the Corporation by the
Chairman of the Board of Directors or Vice-Chairman of the Board of Directors, or the President or
a Vice-President, and by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant
Secretary of the Corporation representing the number of shares registered in certificate form. Any
or all of the signatures on the certificate may be a facsimile. In case any officer, transfer
agent or registrar who has signed or whose facsimile signature has been placed upon a certificate
has ceased to be such officer, transfer agent or registrar before such certificate is issued, it
may be issued by the Corporation with the same effect as if such person were such officer, transfer
agent or registrar at the date of issue. The Corporation shall not have power to issue a
certificate in bearer form.
The Corporation may issue the whole or any part of its shares as partly paid and subject to
call for the remainder of the consideration to be paid therefor. Upon the face or back of each
stock certificate issued to represent any such partly paid shares, or upon the books and records of
the Corporation in the case of uncertificated partly paid shares, the total amount of the
consideration to be paid therefor and the amount paid thereon shall be stated. Upon the
declaration of any dividend on fully paid shares, the Corporation shall declare a dividend upon
partly paid shares of the same class, but only upon the basis of the percentage of the
consideration actually paid thereon.
6.2 Special Designation on Certificates. If the Corporation is authorized to issue more than
one class of stock or more than one series of any class, then the powers, the designations, the
preferences, and the relative, participating, optional or other special rights of each class of
stock or series thereof and the qualifications, limitations or restrictions of such preferences
and/or rights shall be set forth in full or summarized on the face or back of the certificate that
the Corporation shall issue to represent such class or series of stock; provided that, except as
otherwise provided in Section 202 of the DGCL, in lieu of the foregoing requirements there may be
set forth on the face or back of the certificate that the Corporation shall issue to represent such
class or series of stock a statement that the Corporation will furnish without charge to each
stockholder who so requests the powers, the designations, the preferences, and the relative,
participating, optional or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights.
6.3 Lost Certificates. Except as provided in this Section 6.3, no new certificates for shares
shall be issued to replace a previously issued certificate unless the latter is surrendered to the
Corporation and cancelled at the same time. The Corporation may issue a new certificate
of stock or uncertificated shares in the place of any certificate theretofore issued by it, alleged
to have been lost, stolen or destroyed, and the Corporation may require the owner of the lost,
stolen or destroyed certificate, or such owners legal representative, to give the Corporation a
bond
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sufficient to indemnify it against any claim that may be made against it on account of the
alleged loss, theft or destruction of any such certificate or the issuance of such new certificate
or uncertificated shares.
6.4 Dividends. The Board of Directors, subject to any restrictions contained in the
Certificate of Incorporation or applicable law, may declare and pay dividends upon the shares of
the Corporations capital stock. Dividends may be paid in cash, in property, or in shares of the
Corporations capital stock, subject to the provisions of the Certificate of Incorporation.
The Board of Directors may set apart out of any of the funds of the Corporation available for
dividends a reserve or reserves for any proper purpose and may abolish any such reserve.
6.5 Stock Transfer Agreements. The Corporation shall have power to enter into and perform any
agreement with any number of stockholders of any one or more classes of stock of the Corporation to
restrict the transfer of shares of stock of the Corporation of any one or more classes owned by
such stockholders in any manner not prohibited by the DGCL.
6.6 Registered Stockholders. The Corporation:
(a) shall be entitled to recognize the exclusive right of a person registered on its books as
the owner of shares to receive dividends and to vote as such owner;
(b) shall be entitled to hold liable for calls and assessments the person registered on its
books as the owner of shares; and
(c) shall not be bound to recognize any equitable or other claim to or interest in such share
or shares on the part of another person, whether or not it shall have express or other notice
thereof, except as otherwise provided by the laws of Delaware.
6.7 Transfers. Transfers of record of shares of stock of the Corporation shall be made only
upon its books by the holders thereof, in person or by an attorney duly authorized, and upon the
surrender of a certificate or certificates for a like number of shares, properly endorsed.
ARTICLE VII MANNER OF GIVING NOTICE AND WAIVER
7.1 Notice of Stockholder Meetings. Notice of any meeting of stockholders, if mailed, is
given when deposited in the United States mail, postage prepaid, directed to the stockholder at
such stockholders address as it appears on the Corporations records. An affidavit of the
Secretary or an Assistant Secretary of the Corporation or of the transfer agent or other agent of
the Corporation that the notice has been given shall, in the absence of fraud, be prima facie
evidence of the facts stated therein.
7.2 Notice by Electronic Transmission. Without limiting the manner by which notice otherwise
may be given effectively to stockholders pursuant to the DGCL, the Certificate of Incorporation or
these Bylaws, any notice to stockholders given by the Corporation under any provision of the DGCL,
the Certificate of Incorporation or these Bylaws shall be effective if given by a form of
electronic transmission consented to by the stockholder to whom the notice is
18
given. Any such consent shall be revocable by the stockholder by written notice to the
Corporation. Any such consent shall be deemed revoked if:
(a) the Corporation is unable to deliver by electronic transmission two consecutive notices
given by the Corporation in accordance with such consent; and
(b) such inability becomes known to the Secretary or an Assistant Secretary of the Corporation
or to the transfer agent, or other person responsible for the giving of notice.
However, the inadvertent failure to treat such inability as a revocation shall not invalidate any
meeting or other action.
Any notice given pursuant to the preceding paragraph shall be deemed given:
(i) | if by facsimile telecommunication, when directed to a number at which the stockholder has consented to receive notice; | ||
(ii) | if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive notice; | ||
(iii) | if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such posting and (B) the giving of such separate notice; and | ||
(iv) | if by any other form of electronic transmission, when directed to the stockholder. |
An affidavit of the Secretary or an Assistant Secretary or of the transfer agent or other
agent of the Corporation that the notice has been given by a form of electronic transmission shall,
in the absence of fraud, be prima facie evidence of the facts stated therein.
An electronic transmission means any form of communication, not directly involving
the physical transmission of paper, that creates a record that may be retained, retrieved, and
reviewed by a recipient thereof, and that may be directly reproduced in paper form by such a
recipient through an automated process.
Notice by a form of electronic transmission shall not apply to Sections 164, 296, 311, 312 or
324 of the DGCL.
7.3 Notice to Stockholders Sharing an Address. Except as otherwise prohibited under the DGCL,
without limiting the manner by which notice otherwise may be given effectively to stockholders, any
notice to stockholders given by the Corporation under the provisions of the DGCL, the Certificate
of Incorporation or these Bylaws shall be effective if given by a single written notice to
stockholders who share an address if consented to by the stockholders at that address to whom such
notice is given. Any such consent shall be revocable by the stockholder by written notice to the
Corporation. Any stockholder who fails to object in
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writing to the Corporation, within sixty (60) days of having been given written notice by the
Corporation of its intention to send the single notice, shall be deemed to have consented to
receiving such single written notice.
7.4 Notice to Person with Whom Communication is Unlawful. Whenever notice is required to be
given, under the DGCL, the Certificate of Incorporation or these Bylaws, to any person with whom
communication is unlawful, the giving of such notice to such person shall not be required and there
shall be no duty to apply to any governmental authority or agency for a license or permit to give
such notice to such person. Any action or meeting which shall be taken or held without notice to
any such person with whom communication is unlawful shall have the same force and effect as if such
notice had been duly given. In the event that the action taken by the Corporation is such as to
require the filing of a certificate under the DGCL, the certificate shall state, if such is the
fact and if notice is required, that notice was given to all persons entitled to receive notice
except such persons with whom communication is unlawful.
7.5 Waiver of Notice. Whenever notice is required to be given under any provision of the
DGCL, the Certificate of Incorporation or these Bylaws, a written waiver, signed by the person
entitled to notice, or a waiver by electronic transmission by the person entitled to notice,
whether before or after the time of the event for which notice is to be given, shall be deemed
equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of
such meeting, except when the person attends a meeting for the express purpose of objecting at the
beginning of the meeting, to the transaction of any business because the meeting is not lawfully
called or convened. Neither the business to be transacted at, nor the purpose of, any regular or
special meeting of the stockholders need be specified in any written waiver of notice or any waiver
by electronic transmission unless so required by the Certificate of Incorporation or these Bylaws.
ARTICLE VIII GENERAL MATTERS
8.1 Fiscal Year. The fiscal year of the Corporation shall be fixed by resolution of the Board
of Directors and may be changed by the Board of Directors.
8.2 Seal. The Corporation may adopt a corporate seal, which shall be in such form as may be
approved from time to time by the Board of Directors. The Corporation may use the corporate seal
by causing it or a facsimile thereof to be impressed or affixed or in any other manner reproduced.
8.3 Annual Report. The Corporation shall cause an annual report to be sent to the
stockholders of the Corporation to the extent required by applicable law. If and so long as there
are fewer than 100 holders of record of the Corporations shares, the requirement of sending an
annual report to the stockholders of the Corporation is expressly waived (to the extent permitted
under applicable law).
8.4 Reliance upon Books, Reports and Records. Each director and each member of any committee
designated by the Board of Directors of the Corporation shall, in the performance of his or her
duties, be fully protected in relying in good faith upon the books and records of the Corporation
and upon such information, opinions, reports or statements presented to the
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Corporation by any of its officers, agents or employees, or committees of the Board of
Directors so designated, or by any other person or entity as to matters which such director or
committee member reasonably believes are within such other persons or entitys professional or
expert competence and that has been selected with reasonable care by or on behalf of the
Corporation.
8.5 Construction; Definitions. Unless the context requires otherwise, the general provisions,
rules of construction, and definitions in the DGCL shall govern the construction of these Bylaws.
Without limiting the generality of this provision, the singular number includes the plural, the
plural number includes the singular, and the term person includes both a corporation and
a natural person.
ARTICLE IX AMENDMENTS
In furtherance and not in limitation of the powers conferred by statute, the Board of
Directors is expressly authorized to adopt, amend, alter or repeal the Bylaws of the Corporation.
The affirmative vote of at least a majority of the Board of Directors then in office shall be
required in order for the Board of Directors to adopt, amend, alter or repeal the Corporations
Bylaws. Notwithstanding any other provision of these Bylaws or any provision of law that might
otherwise permit a lesser vote or no vote, but in addition to any affirmative vote of the holders
of any series of Preferred Stock required by law, by these Bylaws or by any resolution or
resolutions providing for the issuance of such class or series of stock adopted by the Board of
Directors, the affirmative vote of the holders of a majority of the total voting power of the
Voting Stock, voting together as a single class, shall be required for the stockholders of the
Corporation to alter, amend or repeal any provision of the Bylaws, or to adopt any new Bylaw;
provided, however, that the affirmative vote of the holders of at least 662/3% of the total voting
power of the Voting Stock, voting together as a single class, shall be required for the
stockholders of the Corporation to alter, amend or repeal, or adopt any Bylaw inconsistent with,
the following provisions of the Bylaws: Article I; Sections 2.1, 2.2, 2.4 and 2.12 of Article II;
Article V; and Article IX, or in each case, any successor provision (including, without limitation,
any such article or section as renumbered as a result of any amendment, alteration, change, repeal
or adoption of any other Bylaw). No Bylaw hereafter legally altered, amended or repealed shall
invalidate any prior act of the directors or officers of the Corporation that would have been valid
if such Bylaw had not been altered, amended or repealed.
[End of Bylaws]
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