Exhibit 3.2
BOOZ ALLEN HAMILTON HOLDING CORPORATION
FOURTH AMENDED AND RESTATED BYLAWS
As Adopted on July 31, 2020
TABLE OF CONTENTS
Page
| Article I MEETINGS
OF STOCKHOLDERS |
1 |
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| Section 1.01 Annual Meetings |
1 |
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| Section 1.02 Special Meetings |
1 |
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| Section 1.03 Participation in Meetings by Remote Communication |
1 |
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| Section 1.04 Notice of Meetings; Waiver of Notice |
1 |
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| Section 1.05 Proxies |
2 |
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| Section 1.06 Voting Lists |
2 |
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| Section 1.07 Quorum |
3 |
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| Section 1.08 Voting |
3 |
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| Section 1.09 Adjournment |
3 |
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| Section 1.10 Organization; Procedure; Inspection of Elections |
4 |
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| Section 1.11 Stockholder Action by Written Consent |
4 |
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| Section 1.12 Notice of Stockholder Proposals and Nominations |
5 |
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| Article II BOARD OF DIRECTORS |
8 |
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| Section 2.01 General Powers |
8 |
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| Section 2.02 Number and Term of Office |
9 |
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| Section 2.03 Regular Meetings |
9 |
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| Section 2.04 Special Meetings |
10 |
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| Section 2.05 Notice of Meetings; Waiver of Notice |
10 |
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| Section 2.06 Quorum; Voting |
10 |
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| Section 2.07 Action by Telephonic Communications |
10 |
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| Section 2.08 Adjournment |
10 |
| Section 2.09 Action Without a Meeting |
10 |
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| Section 2.10 Regulations |
11 |
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| Section 2.11 Resignations of Directors |
11 |
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| Section 2.12 Removal of Directors |
11 |
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| Section 2.13 Vacancies and Newly Created Directorships |
11 |
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| Section 2.14 Director Fees and Expenses |
11 |
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| Section 2.15 Reliance on Accounts and Reports, etc |
11 |
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| Article III COMMITTEES |
12 |
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| Section 3.01 Designation of Committees |
12 |
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| Section 3.02 Members and Alternate Members |
12 |
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| Section 3.03 Committee Procedures |
12 |
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| Section 3.04 Meetings and Actions of Committees |
13 |
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| Section 3.05 Resignations and Removals |
13 |
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| Section 3.06 Vacancies |
13 |
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| Article IV OFFICERS |
13 |
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| Section 4.01 Officers |
13 |
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| Section 4.02 Election |
14 |
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| Section 4.03 Compensation |
14 |
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| Section 4.04 Removal and Resignation; Vacancies |
14 |
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| Section 4.05 Authority and Duties of Officers |
14 |
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| Section 4.06 President |
14 |
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| Section 4.07 Vice Presidents |
15 |
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| Section 4.08 Secretary |
15 |
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| Section 4.09 Treasurer |
16 |
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| Section 4.10 Security |
16 |
| Article V CAPITAL
STOCK |
17 |
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| Section 5.01 Certificates of Stock; Uncertificated Shares |
17 |
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| Section 5.02 Facsimile Signatures |
17 |
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| Section 5.03 Lost, Stolen or Destroyed Certificates |
17 |
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| Section 5.04 Transfer of Stock |
17 |
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| Section 5.05 Registered Stockholders |
18 |
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| Section 5.06 Transfer Agent and Registrar |
18 |
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| Article VI INDEMNIFICATION |
18 |
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| Section 6.01 Indemnification |
18 |
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| Section 6.02 Advance of Expenses |
19 |
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| Section 6.03 Procedure for Indemnification |
19 |
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| Section 6.04 Burden of Proof |
19 |
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| Section 6.05 Contract Right; Non-Exclusivity; Survival |
20 |
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| Section 6.06 Insurance |
20 |
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| Section 6.07 Employees and Agents |
20 |
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| Section 6.08 Interpretation; Severability |
20 |
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| Article VII OFFICES |
21 |
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| Section 7.01 Registered Office |
21 |
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| Section 7.02 Other Offices |
21 |
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| Article VIII GENERAL PROVISIONS |
21 |
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| Section 8.01 Dividends |
21 |
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| Section 8.02 Reserves |
21 |
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| Section 8.03 Execution of Instruments |
21 |
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| Section 8.04 Voting as Stockholder |
22 |
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| Section 8.05 Fiscal Year |
22 |
| Section 8.06 Seal |
22 |
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| Section 8.07 Books and Records; Inspection |
22 |
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| Section 8.08 Electronic Transmission |
22 |
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| Article IX AMENDMENT OF BYLAWS |
22 |
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| Section 9.01 Amendment |
22 |
BOOZ ALLEN HAMILTON HOLDING CORPORATION
FOURTH AMENDED AND RESTATED BYLAWS
As adopted on July 31, 2020
Article
I
MEETINGS OF STOCKHOLDERS
Section
1.01 Annual Meetings. The annual meeting of the stockholders of the Booz Allen Hamilton Holding Corporation (the
“Corporation”) for the election of directors (each, a “Director”) and for the transaction
of such other business as properly may come before such meeting shall be held each year either within or without the State of Delaware
at such place, if any, and on such date and at such time, as may be fixed from time to time by resolution of the Corporation’s
board of Directors (the “Board”) and set forth in the notice or waiver of notice of the meeting, unless, subject
to Section 1.11 of these bylaws and the certificate of incorporation of the Corporation, the stockholders have acted by written
consent to elect Directors as permitted by the General Corporation Law of the State of Delaware, as amended from time to time (the
“DGCL”).
Section
1.02 Special Meetings. A special meeting of the stockholders for any purpose may be called at any time only by or
at the direction of the Board pursuant to a resolution of the Board adopted by a majority of the total number of Directors then
in office. Any special meeting of the stockholders shall be held at such place, if any, within or without the State of Delaware,
and on such date and at such time, as shall be specified in such resolution. The stockholders of the Corporation do not have the
power to call a special meeting.
Section
1.03 Participation in Meetings by Remote Communication. The Board, acting in its sole discretion, may establish guidelines
and procedures in accordance with applicable provisions of the DGCL and any other applicable law for the participation by stockholders
and proxyholders in a meeting of stockholders by means of remote communications, and may determine that any meeting of stockholders
will not be held at any place but will be held solely by means of remote communication. Stockholders and proxyholders complying
with such procedures and guidelines and otherwise entitled to vote at a meeting of stockholders shall be deemed present in person
and entitled to vote at a meeting of stockholders, whether such meeting is to be held at a designated place or solely by means
of remote communication.
Section
1.04 Notice of Meetings; Waiver of Notice.
(a)
The Secretary or any Assistant Secretary shall cause notice
of each meeting of stockholders to be given in writing in a manner permitted by the DGCL not less than 10 days nor more than 60
days prior to the meeting to each stockholder of record entitled to vote at such meeting, subject to such exclusions as are then
permitted by the DGCL. The notice shall specify (i) the place, if any, date and time of such meeting, (ii) the means of remote
communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such meeting,
(iii) in the case of a special meeting, the purpose or purposes for which such meeting is called and (iv) such other information
as may be required by law or as may be deemed appropriate by the Board, the President or the Secretary of the Corporation. If the
stockholder list referred to in Section 1.06 of these bylaws is made accessible on an electronic network, the notice of meeting
must indicate how the stockholder list can be accessed. If the meeting of stockholders is to be held solely by means of electronic
communications, the notice of meeting must provide the information required to access such stockholder list during the meeting.
(b)
A written waiver of notice of meeting signed by a stockholder
or a waiver by electronic transmission by a stockholder, whether given before or after the meeting time stated in such notice,
is deemed equivalent to notice. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of
the stockholders need be specified in a waiver of notice. Attendance of a stockholder at a meeting is a waiver of notice of such
meeting, except when the stockholder attends a meeting for the express purpose of objecting at the beginning of the meeting to
the transaction of any business at the meeting on the ground that the meeting is not lawfully called or convened.
Section
1.05 Proxies.
(a)
Each stockholder entitled to vote at a meeting of stockholders
or to express consent to or dissent from corporate action in writing without a meeting may authorize another person or persons
to act for such stockholder by proxy.
(b)
A stockholder may authorize a valid proxy by executing a written
instrument signed by such stockholder, or by causing his or her signature to be affixed to such writing by any reasonable means,
including but not limited to by facsimile signature, or by transmitting or authorizing an electronic transmission (as defined in
Section 8.08 of these bylaws) setting forth an authorization to act as proxy to the person designated as the holder of the proxy,
a proxy solicitation firm or a like authorized agent. Proxies by electronic transmission must either set forth, or be submitted
with, information from which it can be determined that the electronic transmission was authorized by the stockholder. Any copy,
facsimile telecommunication or other reliable reproduction of a writing or transmission created pursuant to this section may be
substituted or used in lieu of the original writing or transmission for any and all purposes for which the original writing or
transmission could be used if such copy, facsimile telecommunication or other reproduction is a complete reproduction of the entire
original writing or transmission.
(c)
No proxy may be voted or acted upon after the expiration of
three years from the date of such proxy, unless such proxy provides for a longer period. Every proxy is revocable at the pleasure
of the stockholder executing it unless the proxy states that it is irrevocable and applicable law makes it irrevocable. A stockholder
may revoke any proxy that is not irrevocable by attending the meeting and voting in person or by filing an instrument in writing
revoking the proxy or by filing another duly executed proxy bearing a later date with the Secretary.
Section
1.06 Voting Lists. The officer of the Corporation who has charge of the stock ledger of the Corporation shall prepare,
at least 10 days before every meeting of the stockholders (and before any adjournment thereof for which a new record date has been
set), a complete list of the stockholders of record entitled to vote at the meeting, arranged in alphabetical order and showing
the address of each stockholder and the number of shares registered in the name of each stockholder. This list, which may be in
any format including electronic format, shall be open to the examination of any stockholder prior to and during the meeting for
any purpose germane to the meeting in the manner required by the DGCL and other applicable law. The stock ledger shall be the only
evidence as to who are the stockholders entitled by this section to examine the list required by this section or to vote in person
or by proxy at any meeting of stockholders.
Section
1.07 Quorum. Except as otherwise provided in the certificate of incorporation or by law, the presence in person or
by proxy of the holders of record of a majority of the shares entitled to vote at a meeting of stockholders shall constitute a
quorum for the transaction of business at such meeting, provided, however, that where a separate vote by a class
or series is required, the holders of a majority in voting power of all issued and outstanding stock of such class or series entitled
to vote on such matter, present in person or represented by proxy, shall constitute a quorum entitled to take action with respect
to such matter. In the absence of a quorum, the stockholders so present may, by a majority in voting power thereof, adjourn the
meeting from time to time in the manner provided in Section 1.09 of these bylaws until a quorum shall attend.
Section
1.08 Voting. Except as otherwise provided in the certificate of incorporation or by law, every holder of record of
shares entitled to vote at a meeting of stockholders is entitled to one vote for each share outstanding in his or her name on the
books of the Corporation (x) at the close of business on the record date for such meeting, or (y) if no record date has been fixed,
at the close of business on the day next preceding the day on which notice of the meeting is given, or if notice is waived, at
the close of business on the day next preceding the day on which the meeting is held. Except as otherwise required by law, the
certificate of incorporation, these bylaws, the rules and regulations of any stock exchange applicable to the Corporation or pursuant
to any other rule or regulation applicable to the Corporation or its stockholders, the vote of a majority of the shares entitled
to vote at a meeting of stockholders on the subject matter in question represented in person or by proxy at any meeting at which
a quorum is present shall be sufficient for the transaction of any business at such meeting. The stockholders do not have the right
to cumulate their votes for the election of Directors.
Section
1.09 Adjournment. Any meeting of stockholders may be adjourned from time to time, by the chairperson of the meeting
or by the vote of a majority of the shares of stock present in person or represented by proxy at the meeting, to reconvene at the
same or some other place, and notice need not be given of any such adjourned meeting if the place, if any, and date and time thereof
(and the means of remote communication, if any, by which stockholders and proxy holders may be deemed to be present in person and
vote at such meeting) are announced at the meeting at which the adjournment is taken unless the adjournment is for more than 30
days or a new record date is fixed for the adjourned meeting after the adjournment, in which case notice of the adjourned meeting
in accordance with Section 1.04 of these bylaws shall be given to each stockholder of record entitled to vote at the meeting. At
the adjourned meeting, the Corporation may transact any business that might have been transacted at the original meeting.
Section
1.10 Organization; Procedure; Inspection of Elections.
(a)
At every meeting of stockholders the presiding officer shall
be the Chairman of the Board, or in the event of his or her absence or disability, a presiding officer chosen by resolution of
the Board. The Secretary, or in the event of his or her absence or disability, the Assistant Secretary, if any, or if there be
no Assistant Secretary, in the absence of the Secretary, an appointee of the presiding officer, shall act as secretary of the meeting.
The Board may make such rules or regulations for the conduct of meetings of stockholders as it shall deem necessary, appropriate
or convenient. Subject to any such rules and regulations, the presiding officer of any meeting shall have the right and authority
to prescribe rules, regulations and procedures for such meeting and to take all such actions as in the judgment of the presiding
officer are appropriate for the proper conduct of such meetings. Such rules, regulations or procedures, whether adopted by the
Board or prescribed by the presiding officer 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 of record of
the Corporation, their duly authorized and constituted proxies or such other persons as the presiding person 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 presiding officer at any 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 matter or business was not properly brought before the meeting and if such presiding person should
so determine, such presiding person shall so declare to the meeting and any such matter of business not properly brought before
the meeting shall not be transacted or considered. Unless and to the extent determined by the Board or the person presiding over
the meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure.
(b)
Preceding any meeting of the stockholders, the Board may, and
when required by law shall, appoint one or more persons to act as inspectors of elections, and may designate one or more alternate
inspectors. If no inspector or alternate so appointed by the Board is able to act, or if no inspector or alternate has been appointed
and the appointment of an inspector is required by law, the person presiding at the meeting shall appoint one or more inspectors
to act at the meeting. No Director or nominee for the office of Director shall be appointed as an inspector of elections. Each
inspector, before entering upon the discharge of the duties of an inspector, shall take and sign an oath faithfully to execute
the duties of inspector with strict impartiality and according to the best of his or her ability. The inspectors shall discharge
their duties in accordance with the requirements of applicable law.
Section
1.11 Stockholder Action by Written Consent. Except as otherwise provided in the certificate of incorporation, any
action required or permitted to be taken at any annual or special meeting of stockholders of the Corporation may be taken only
upon the vote of the stockholders at an annual or special meeting duly called and may not be taken by written consent of the stockholders.
Section
1.12 Notice of Stockholder Proposals and Nominations
(a)
Annual Meetings.
(i)
Nominations of persons for election to the Board
and proposals of business to be considered by the stockholders at an annual meeting of stockholders may be made only (x) as specified
in the Corporation’s notice of meeting (or any notice supplemental thereto), (y) by or at the direction of the Board, or
a committee appointed by the Board for such purpose, or (z) by any stockholder of the Corporation who or which (1) is entitled
to vote at the meeting, (2) complies in a timely manner with all notice procedures set forth in this Section 1.12, and (3) is a
stockholder of record when the required notice is delivered and at the date of the meeting. A stockholder proposal must constitute
a proper matter for corporate action under the DGCL.
(ii)
Notice in writing of a stockholder nomination or stockholder proposal
must be delivered to the attention of the Secretary at the principal place of business of the Corporation not fewer than 90 days
nor more than 120 days prior to the first anniversary of the preceding year’s annual meeting (which anniversary date, in
the case of the first annual meeting of stockholders following the closing of the Corporation’s initial underwritten public
offering of common stock, shall be deemed to be August 15, 2011) provided that if the date of the annual meeting is advanced
by more than 30 days or delayed by more than 70 days from such anniversary date of the preceding year’s annual meeting, notice
by the stockholder to be timely must be so delivered not earlier than 120 days prior to such annual meeting and not later than
the close of business on the later of the 90th day prior to such annual meeting or the 10th day following the day on which public
announcement of the date of such meeting is first made. If the number of Directors to be elected to the Board at an annual meeting
is increased, and if the Corporation does not make a public announcement naming all of the nominees for Director or specifying
the size of the increased Board at least 100 days prior to the first anniversary of the preceding year’s annual meeting,
then any stockholder nomination in respect of the increased number of positions shall be considered timely if delivered not later
than the close of business on the 10th day following the day on which a public announcement naming all nominees or specifying the
size of the increased Board is first made by the Corporation.
(iii)
Notice of a stockholder nomination shall include, as to each person whom the
stockholder proposes to nominate for election or re-election as a Director, all information relating to such person required to
be disclosed in solicitations of proxies for election of Directors or is otherwise required, in each case pursuant to and in accordance
with Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and
regulations promulgated thereunder, including such person’s written consent to being named in the proxy statement as a nominee
and to serving as a Director if elected. Notice of a stockholder proposal shall include a brief description of the business desired
to be brought before the meeting, the text of the proposal (including the text of any resolutions proposed for consideration and
if such business includes proposed amendments to the certificate of incorporation and/or bylaws of the Corporation, the text of
the proposed amendments), the reasons for conducting such business at the meeting and any material interest in such business of
such stockholder and the beneficial owner, if any, on whose behalf the proposal is made.
(iv)
Notice of a stockholder nomination or proposal shall also set forth, 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 Corporation’s books and records, and of such beneficial owner;
2.
the class or series and number of shares
of capital stock of the Corporation which are owned beneficially and of record by such stockholder and such beneficial owner;
3.
a description of any agreement, arrangement
or understanding between or among such stockholder and any such beneficial owner, any of their respective affiliates or associates,
and any other person or persons (including their names) in connection with the proposal of such nomination or other business;
4.
a description of any agreement, arrangement
or understanding (including, regardless of the form of settlement, any derivative, long or short positions, profit interests, forwards,
futures, swaps, options, warrants, convertible securities, stock appreciation or similar rights, hedging transactions and borrowed
or loaned shares) that has been entered into by or on behalf of, or any other agreement, arrangement or understanding that has
been made, the effect or intent of which is to create or mitigate loss to, manage risk or benefit of share price changes for, or
increase or decrease the voting power of, such stockholder or any such beneficial owner or any such nominee with respect to the
Corporation’s securities (a “Derivative Instrument”);
5.
to the extent not disclosed pursuant to clause
(4) above, the principal amount of any indebtedness of the Corporation or any of its subsidiaries beneficially owned by such stockholder
or by any such beneficial owner, together with the title of the instrument under which such indebtedness was issued and a description
of any Derivative Instrument entered into by or on behalf of such stockholder or such beneficial owner relating to the value or
payment of any indebtedness of the Corporation or any such subsidiary;
6.
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
7.
a representation as to whether the stockholder
or the beneficial owner, if any, intends or is part of a group which intends (x) to deliver a proxy statement and/or form of proxy
to holders of at least the percentage of the Corporation’s outstanding capital stock required to elect the nominee or to
approve or adopt the proposal or and/or (y) otherwise to solicit proxies from stockholders in support of such nomination or proposal.
If requested by the Corporation, the information required under
clauses (iv)(2), (3), (4) and (5) of the preceding sentence of this Section 1.12(a) shall be supplemented by such stockholder and
any such beneficial owner not later than 10 days after the record date for notice of the meeting to disclose such information as
of such record date. The foregoing notice requirements of this Section 1.12(a) shall be deemed satisfied by a stockholder with
respect to business or a nomination if the stockholder has notified the Corporation of his or her intention to present a proposal
or make a nomination at an annual meeting in compliance with the applicable rules and regulations promulgated under the Exchange
Act and such stockholder’s proposal or nomination has been included in a proxy statement that has been prepared by the Corporation
to solicit proxies for such annual meeting.
(b)
Special Meetings.
(i)
Only such business shall be conducted at a special
meeting of stockholders as shall have been brought before the meeting pursuant to the Corporation’s notice of meeting pursuant
to Section 1.04 of these bylaws. Nominations of persons for election to the Board at a special meeting of stockholders may be made
only (x) as specified in the Corporation’s notice of meeting (or any supplement thereto), (y) by or at the direction of the
Board, or a committee appointed by the Board for such purpose, if the Corporation’s notice of meeting indicated that the
purposes of meeting included the election of Directors and specified the number of Directors to be elected, or (z) subject to the
provisions of these bylaws, by any stockholder of the Corporation. A stockholder may nominate persons for election to the board
(a “stockholder nomination”) at a special meeting only if the stockholder (1) is entitled to vote at the meeting,
(2) complies in a timely manner with the notice procedures set forth in paragraph (ii) of this Section 1.12(b), and (3) is a stockholder
of record when the required notice is delivered and at the date of the meeting.
(ii)
Notice in writing of a stockholder nomination must be delivered to
the attention of the Secretary at the principal place of business of the Corporation not more than 120 days prior to the date of
the meeting and not later than the close of business on the later of the 90th day prior to the meeting or the 10th day following
the last to occur of the public announcement by the Corporation of the date of such meeting and the public announcement by the
Corporation of the nominees proposed by the Board to be elected at such meeting, and must comply with the provisions of Sections
1.12(a)(iii) and (iv) of these bylaws. The foregoing notice requirements of this Section 1.12(b) shall be deemed satisfied by a
stockholder with respect to a nomination if the stockholder has notified the Corporation of his or her intention to present a nomination
at such special meeting in compliance with the applicable rules and regulations promulgated under the Exchange Act and such stockholder’s
nomination has been included in a proxy statement that has been prepared by the Corporation to solicit proxies for such special
meeting.
(c)
General.
(i)
Except as otherwise expressly provided in any applicable
rule or regulation promulgated under the Exchange Act, only such persons who are nominated in accordance with the procedures set
forth in this Section 1.12 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 1.12. Except as otherwise provided by law, the certificate
of incorporation or these bylaws, the presiding officer of a meeting of stockholders shall have the power and duty (x) to determine
whether a nomination or any business proposed to be brought before the meeting was made in accordance with the procedures set forth
in this Section 1.12, and (y) if any proposed nomination or business is not in compliance with this Section 1.12, to declare that
such defective nomination shall be disregarded or that such proposed business shall not be transacted.
(ii)
The Corporation may require any proposed stockholder nominee for
Director to furnish such other information as it may reasonably require to determine the eligibility of such proposed nominee to
serve as a Director of the Corporation. If the stockholder (or a qualified representative of the stockholder) making a nomination
or proposal under this Section 1.12 does not appear at a meeting of stockholders to present such nomination or proposal, the nomination
shall be disregarded and/or the proposed business shall not be transacted, as the case may be, notwithstanding that proxies in
favor thereof may have been received by the Corporation. For purposes of this Section 1.12, to be considered a qualified representative
of the stockholder, a person must be a duly authorized officer, manager or partner of such stockholder or 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 stockholders.
(iii)
For purposes of this Section 1.12, “public announcement” shall
mean 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.
(iv)
Notwithstanding the foregoing provisions of this Section 1.12, a stockholder
shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder with respect to
the matters set forth in this Section 1.12; provided however, that any references in these bylaws to the Exchange Act or the rules
and regulations promulgated thereunder are not intended to and shall not limit any requirements applicable to nominations or proposals
as to any other business to be considered pursuant to this Section 1.12 and compliance with paragraphs (a) and (b) of this Section
1.12 shall be the exclusive means for a stockholder to make nominations or submit other business (other than, as provided in the
last sentences of paragraphs (a) and (b) hereof, business or nominations brought properly under and in compliance with Rule 14a-8
or Rule 14a-11 of the Exchange Act, as such Rules may be amended from time to time). Nothing in this Section 1.12 shall be deemed
to affect any rights of (x) stockholders to request inclusion of proposals in the Corporation’s proxy statement pursuant
to Rule 14a-8 under the Exchange Act or (y) the holders of any series of preferred stock to elect Directors pursuant to any applicable
provisions of the certificate of incorporation or of the relevant preferred stock certificate or designation.
(v)
The announcement of an adjournment or postponement of an annual
or special meeting does not commence a new time period (and does not extend any time period) for the giving of notice of a stockholder
nomination or a stockholder proposal.
Article
II
BOARD OF DIRECTORS
Section
2.01 General Powers. Except as may otherwise be provided by law or by the certificate of incorporation, the affairs
and business of the Corporation shall be managed by or under the direction of the Board and the Board may exercise all the powers
and authority of the Corporation. The Directors shall act only as a Board, and the individual Directors shall have no power as
such.
Section
2.02 Number and Term of Office. Subject to the provisions of the certificate of incorporation, and any rights of
the holders of shares of any class or series of preferred stock, if any, to elect additional Directors, at each meeting of stockholders
for the election of Directors, provided a quorum is present, each Director who is standing for election shall be elected by the
vote of the majority of the votes cast with respect to that Director’s election; provided, however, that the Directors
shall be elected by the vote of a plurality of votes cast in connection with the election of Directors at any meeting of stockholders
with respect to which (i) a stockholder has nominated a person for election to the Board in compliance with the requirements for
stockholder nominees for director set forth in Section 1.12 of these bylaws, and (ii) such nomination has not been withdrawn by
such stockholder prior to the 10th day preceding the date the Corporation first mails its notice of meeting for such
meeting to the stockholders (a “Contested Election”). For purposes of this Section, “a majority of the
votes cast” means that the number of shares voted “for” a nominee’s election exceeds the number of shares
voted “against” such nominee’s election (with “abstentions” and “broker nonvotes” not
counted as a vote cast either “for” or “against” that Director’s election).
Any nominee who is an incumbent Director
and does not receive a majority of the votes cast in an election that is not a Contested Election must promptly tender his or her
resignation contingent on the acceptance of that resignation by the Board to the Chairman of the Board following certification
of the election results. In the event that such a resignation is tendered, the Nominating and Corporate Governance Committee, or
another duly authorized committee designated by the Board, shall recommend to the Board whether to accept or reject the tendered
resignation or whether other action should be taken. The Board shall act on the resignation, considering the Nominating and Corporate
Governance Committee’s recommendation no later than at its first regularly scheduled meeting following certification of the
election results and shall publicly disclose the Board’s decision (including, if applicable, the reasons for rejecting the
tendered resignation) in a periodic or current report filed with the Securities and Exchange Commission.
If one or more Directors’ resignations
are accepted by the Board, or if a nominee for director who is not an incumbent Director is not elected, the Board may fill the
resulting vacancy or vacancies pursuant to Section 2.13 of these bylaws or reduce the size of the Board pursuant to Section 2.02
of these bylaws.
Any Director who tenders his or her resignation
pursuant to this provision will not participate in the Nominating and Corporate Governance Committee’s recommendation or
Board’s decision regarding the tendered resignation. If a majority of the members of the Nominating and Corporate Governance
Committee failed to receive a majority vote at the same election, then the Board will appoint a Board committee solely for the
purpose of considering the tendered resignations, consisting of one or more of the Directors who were not required to tender a
resignation pursuant to this provision, and will recommend to the Board whether to accept or reject them.
Section
2.03 Regular Meetings. Regular meetings of the Board shall be held on such dates, and at such times and places as
are determined from time to time by resolution of the Board.
Section
2.04 Special Meetings. Special meetings of the Board shall be held whenever called by the President or, in the event
of his or her absence or disability, by any Vice President, or by a majority of the Directors then in office, at such place, date
and time as may be specified in the respective notices or waivers of notice of such meetings. Any business may be conducted at
a special meeting.
Section
2.05 Notice of Meetings; Waiver of Notice.
(a)
Notices of special meetings shall be given to each Director,
and notice of each resolution or other action affecting the date, time or place of one or more regular meetings shall be given
to each Director not present at the meeting adopting such resolution or other action, subject to Section 2.08 of these bylaws.
Notices shall be given personally, or by telephone confirmed by facsimile or email dispatched promptly thereafter, or by facsimile
or email confirmed by a writing delivered by a recognized overnight courier service, directed to each Director at the address from
time to time designated by such Director to the Secretary. Each such notice and confirmation must be given (received in the case
of personal service or delivery of written confirmation) at least 24 hours prior to the time of a meeting.
(b)
A written waiver of notice of meeting signed by a Director
or a waiver by electronic transmission by a Director, whether given before or after the meeting time stated in such notice, is
deemed equivalent to notice. Attendance of a Director at a meeting is a waiver of notice of such meeting, except when the Director
attends a meeting for the express purpose of objecting at the beginning of the meeting to the transaction of any business at the
meeting on the ground that the meeting is not lawfully called or convened.
Section
2.06 Quorum; Voting. At all meetings of the Board, the presence of a majority of the total authorized number of Directors
shall constitute a quorum for the transaction of business. Except as otherwise provided by law, the certificate of incorporation
or these bylaws, 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.
Section
2.07 Action by Telephonic Communications. Members of the Board may participate in a meeting of the Board by means
of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear
each other, and participation in a meeting pursuant to this provision shall constitute presence in person at such meeting.
Section
2.08 Adjournment. A majority of the Directors present may adjourn any meeting of the Board to another date, time
or place, whether or not a quorum is present. No notice need be given of any adjourned meeting unless (a) the date, time and place
of the adjourned meeting are not announced at the time of adjournment, in which case notice conforming to the requirements of Section
2.05 of these bylaws shall be given to each Director, or (b) the meeting is adjourned for more than 24 hours, in which case the
notice referred to in clause (a) shall be given to those Directors not present at the announcement of the date, time and place
of the adjourned meeting.
Section
2.09 Action Without a Meeting. Any action required or permitted to be taken at any meeting of the Board may be taken
without a meeting if all members of the Board consent thereto in writing or by electronic transmission, and such writing or writings
or electronic transmissions are filed with the minutes of proceedings of the Board. 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.
Section
2.10 Regulations. To the extent consistent with applicable law, the certificate of incorporation and these bylaws,
the Board may adopt such rules and regulations for the conduct of meetings of the Board and for the management of the affairs and
business of the Corporation as the Board may deem appropriate. The Board may elect from among its members a chairperson and one
or more vice-chairpersons to preside over meetings and to perform such other duties as may be designated by the Board.
Section
2.11 Resignations of Directors. Any Director may resign at any time by submitting an electronic transmission or by
delivering a written notice of resignation, signed by such Director, to the President or the Secretary. Such resignation shall
take effect upon delivery unless the resignation specifies a later effective date or an effective date determined upon the happening
of a specified event.
Section
2.12 Removal of Directors.
Directors may only be removed as
set forth in the certificate of incorporation.
Section
2.13 Vacancies and Newly Created Directorships. Subject to the rights of the holders of shares of any class or series
of preferred stock, if any, to elect additional Directors pursuant to the certificate of incorporation (including any certificate
of designation thereunder), any vacancy in the Board that results from the death, disability, resignation, disqualification or
removal of any Director or from any other cause shall be filled solely by the affirmative vote of a majority of the total number
of Directors then in office, even if less than a quorum, or by a sole remaining Director. Until the election of Directors at the
annual meeting of the stockholders to be held in 2023, a Director elected to fill a vacancy or a newly created directorship shall
hold office for the remainder of the term of his or her predecessor or, in the case of a newly created directorship, for the remainder
of the terms of the class of Directors to which he or she is elected and until his or her successor has been elected and qualified
or until his or her death, disability, resignation, disqualification or removal. Thereafter, a Director elected to fill a vacancy
or a newly created directorship shall hold office until the next succeeding annual meeting of stockholders and until his or her
successor has been elected and qualified or until his or her death, disability, resignation, disqualification or removal.
Section
2.14 Director Fees and Expenses. The amount, if any, which each Director shall be entitled to receive as compensation
for his or her services shall be fixed from time to time by the Board. The Corporation will cause each non-employee Director serving
on the Board to be reimbursed for all reasonable out-of-pocket costs and expenses incurred by him or her in connection with such
service.
Section
2.15 Reliance on Accounts and Reports, etc. A Director, as such or as a member of any committee designated by the
Board, shall in the performance of his or her duties be fully protected in relying in good faith upon the records of the Corporation
and upon information, opinions, reports or statements presented to the Corporation by any of the Corporation’s officers or
employees, or committees designated by the Board, or by any other person as to the matters the member reasonably believes are within
such other person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the
Corporation.
Article
III
COMMITTEES
Section
3.01 Designation of Committees. The Board shall designate such committees as may be required by applicable laws,
regulations or stock exchange rules, and may designate such additional committees as it deems necessary or appropriate. Each committee
shall consist of such number of Directors, with such qualifications, as may be required by applicable laws, regulations or stock
exchange rules, or as from time to time may be fixed by the Board and shall have and may exercise all the powers and authority
of the Board in the management of the business and affairs of the Corporation to the extent delegated to such committee by resolution
of the Board, which delegation shall include all such powers and authority as may be required by applicable laws, regulations or
stock exchange rules. No committee shall have any power or authority as to (a) approving or adopting, or recommending 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, (b) adopting, amending or repealing any of these bylaws or (c) as may otherwise be excluded by law or by the certificate
of incorporation, and no committee may delegate any of its power or authority to a subcommittee unless so authorized by the Board.
Section
3.02 Members and Alternate Members. The members of each committee and any alternate members shall be selected by
the Board. The Board may provide that the members and alternate members serve at the pleasure of the Board. An alternate member
may replace any absent or disqualified member at any meeting of the committee. An alternate member shall be given all notices of
committee meetings, may attend any meeting of the committee, but may count towards a quorum and vote only if a member for whom
such person is an alternate is absent or disqualified. Each member (and each alternate member) of any committee shall hold office
only until the time he or she shall cease for any reason to be a Director, or until his or her earlier death, resignation or removal.
Section
3.03 Committee Procedures. A quorum for each committee shall be a majority of its members, unless the committee has
only one or two members, in which case a quorum shall be one member, or unless a greater quorum is established by the Board. The
vote of a majority of the committee members present at a meeting at which a quorum is present shall be the act of the committee.
Each committee shall keep regular minutes of its meetings and report to the Board when required. The Board shall adopt a charter
for each committee for which a charter is required by applicable laws, regulations or stock exchange rules, may adopt a charter
for any other committee, and may adopt other rules and regulations for the government of any committee not inconsistent with the
provisions of these bylaws or any such charter, and each committee may adopt its own rules and regulations of government, to the
extent not inconsistent with these bylaws or any charter or other rules and regulations adopted by the Board.
Section
3.04 Meetings and Actions of Committees. Except to the extent that the same may be inconsistent with the terms of
any committee charter required by applicable laws, regulations or stock exchange rules, meetings and actions of each committee
shall be governed by, and held and taken in accordance with, the provisions of the following sections of these bylaws, with such
bylaws being deemed to refer to the committee and its members in lieu of the Board and its members:
(a)
Section 2.03 (to the extent relating to place and time of regular
meetings);
(b)
Section 2.04 (relating to special meetings);
(c)
Section 2.05 (relating to notice and waiver of notice);
(d)
Sections 2.07 and 2.9 (relating to telephonic communication
and action without a meeting); and
(e)
Section 2.08 (relating to adjournment and notice of adjournment).
Special meetings of committees may also be called by resolution
of the Board.
Section
3.05 Resignations and Removals. Any member (and any alternate member) of any committee may resign from such position
at any time by submitting an electronic transmission or by delivering a written notice of resignation, signed by such member, to
the President or the Secretary. Such resignation shall take effect upon delivery unless the resignation specifies a later effective
date or an effective date determined upon the happening of a specified event. Any member (and any alternate member) of any committee
may be removed from such position by the Board at any time, either for or without cause.
Section
3.06 Vacancies. If a vacancy occurs in any committee for any reason, the remaining members (and any alternate members)
may continue to act if a quorum is present. A committee vacancy may be filled only by the Board.
Article
IV
OFFICERS
Section
4.01 Officers. The Board shall elect a President and a Secretary as officers of the Corporation. The Board may also
elect a Treasurer, one or more Vice Presidents (any one or more of whom may be designated an Executive Vice President or Senior
Vice President), Assistant Secretaries and Assistant Treasurers, and such other officers and agents as the Board may determine.
In addition, the Board from time to time may delegate to any officer the power to appoint subordinate officers or agents and to
prescribe their respective rights, terms of office, authorities and duties. Any action by an appointing officer may be superseded
by action by the Board. Any number of offices may be held by the same person, except that one person may not hold both the office
of President and the office of Secretary. No officer need be a Director of the Corporation. For the avoidance of doubt, the term
Vice President shall refer to an officer elected by the Board as Vice President and shall not include any employees of the Corporation
whose employment title is “Vice President” unless such individual has been elected as a Vice President of the Corporation
in accordance with these bylaws.
Section
4.02 Election. Unless otherwise determined by the Board, the officers of the Corporation need not be elected for
a specified term but shall serve at the pleasure of the Board or for such terms as may be agreed in the individual case by each
officer and the Board. Officers and agents appointed pursuant to delegated authority as provided in Section 4.01 (or, in the case
of agents, as provided in Section 4.06) shall hold their offices for such terms as may be determined from time to time by the appointing
officer. Each officer shall hold office until his or her successor has been elected or appointed and qualified, or until his or
her earlier death, resignation or removal. A failure to elect officers shall not dissolve or otherwise affect the Corporation.
Section
4.03 Compensation. The salaries and other compensation of all officers and agents of the Corporation shall be fixed
by the Board or in the manner established by the Board.
Section
4.04 Removal and Resignation; Vacancies. Any officer may be removed for or without cause at any time by the Board.
Any officer granted the power to appoint subordinate officers and agents as provided in Section 4.01 may remove any subordinate
officer or agent appointed by such officer, at any time, for or without cause. Any officer or agent may resign at any time by delivering
notice of resignation, either in writing signed by such officer or by electronic transmission, to the Board or the President. Unless
otherwise specified therein, such resignation shall take effect upon delivery. Any vacancy occurring in any office of the Corporation
by death, resignation, removal or otherwise, may be filled by the Board or by the officer, if any, who appointed the person formerly
holding such office.
Section
4.05 Authority and Duties of Officers. An officer of the Corporation shall have such authority and shall exercise
such powers and perform such duties (a) as may be required by law, (b) to the extent not inconsistent with law, as are specified
in these bylaws, (c) to the extent not inconsistent with law or these bylaws, as may be specified by resolution of the Board, and
(d) to the extent not inconsistent with any of the foregoing, as may be specified by the appointing officer with respect to a subordinate
officer appointed pursuant to delegated authority under Section 4.01.
Section
4.06 President. The President shall preside at all meetings of the stockholders and Directors at which he or she
is present, shall be the chief executive officer of the Corporation, shall have general control and supervision of the policies
and operations of the Corporation and shall see that all orders and resolutions of the Board are carried into effect. He or she
shall manage and administer the Corporation’s business and affairs and shall also perform all duties and exercise all powers
usually pertaining to the office of a chief executive officer of a corporation, including, without limitation under the DGCL. He
or she shall have the authority to sign, in the name and on behalf of the Corporation, checks, orders, contracts, leases, notes,
drafts and all other documents and instruments in connection with the business of the Corporation. Except as otherwise determined
by the Board, he or she shall have the authority to cause the employment or appointment of such employees (other than the President)
or agents of the Corporation as the conduct of the business of the Corporation may require, to fix their compensation, and to remove
or suspend such employee or any agent employed or appointed by any officer or to suspend any agent appointed by the Board. The
President shall have the duties and powers of the Treasurer if no Treasurer is elected and shall have such other duties and powers
as the Board may from time to time prescribe.
Section
4.07 Vice Presidents. Unless otherwise determined by the Board, if one or more Vice Presidents have been elected,
each Vice President shall perform such duties and exercise such powers as may be assigned to him or her from time to time by the
Board or the President. In the event of absence or disability of the President, the duties of the President shall be performed,
and his or her powers may be exercised, by such Vice President as shall be designated by the Board or, failing such designation,
by the Vice President in order of seniority of election to that office.
Section
4.08 Secretary. Unless otherwise determined by the Board, the Secretary shall have the following powers and duties:
(a)
The Secretary shall keep or cause to be kept a record of all
the proceedings of the meetings of the stockholders, the Board and any committees thereof in books provided for that purpose.
(b)
The Secretary shall cause all notices to be duly given in accordance
with the provisions of these bylaws and as required by law.
(c)
Whenever any committee shall be appointed pursuant to a resolution
of the Board, the Secretary shall furnish a copy of such resolution to the members of such committee.
(d)
The Secretary shall be the custodian of the records and of
the seal of the Corporation and cause such seal (or a facsimile thereof) to be affixed to all certificates representing shares
of the Corporation prior to the issuance thereof and to all documents and instruments that the Board or any officer of the Corporation
has determined should be executed under seal, may sign (together with any other authorized officer) any such document or instrument,
and when the seal is so affixed he or she may attest the same.
(e)
The Secretary shall properly maintain and file all books, reports,
statements, certificates and all other documents and records required by law, the certificate of incorporation or these bylaws.
(f)
The Secretary shall have charge of the stock books and
ledgers of the Corporation and shall cause the stock and transfer books to be kept in such manner as to show at any time the number
of shares of stock of the Corporation of each class issued and outstanding, the names (alphabetically arranged) and the addresses
of the holders of record of such shares, the number of shares held by each holder and the date as of which each such holder became
a holder of record.
(g)
The Secretary shall sign (unless the Treasurer, an Assistant
Treasurer or an Assistant Secretary shall have signed) certificates representing shares of the Corporation the issuance of which
shall have been authorized by the Board.
(h)
The Secretary shall perform, in general, all duties incident
to the office of secretary and such other duties as may be specified in these bylaws or as may be assigned to the Secretary from
time to time by the Board or the President.
Section
4.09 Treasurer. Unless otherwise determined by the Board, the Treasurer, if there be one, shall be the chief financial
officer of the Corporation and shall have the following powers and duties:
(a)
The Treasurer shall have charge and supervision over and be
responsible for the moneys, securities, receipts and disbursements of the Corporation, and shall keep or cause to be kept full
and accurate records thereof.
(b)
The Treasurer shall cause the moneys and other valuable effects
of the Corporation to be deposited in the name and to the credit of the Corporation in such banks or trust companies or with such
bankers or other depositaries as shall be determined by the Board or the President, or by such other officers of the Corporation
as may be authorized by the Board or the President to make such determinations.
(c)
The Treasurer shall cause the moneys of the Corporation to
be disbursed by checks or drafts (signed by such officer or officers or such agent or agents of the Corporation, and in such manner,
as the Board or the President may determine from time to time) upon the authorized depositaries of the Corporation and cause to
be taken and preserved proper vouchers for all moneys disbursed.
(d)
The Treasurer shall render to the Board or the President, whenever
requested, a statement of the financial condition of the Corporation and of the transactions of the Corporation, and render a full
financial report at the annual meeting of the stockholders, if called upon to do so.
(e)
The Treasurer shall be empowered from time to time to require
from all officers or agents of the Corporation reports or statements giving such information as he or she may desire with respect
to any and all financial transactions of the Corporation.
(f)
The Treasurer may sign (unless an Assistant Treasurer
or the Secretary or an Assistant Secretary shall have signed) certificates representing shares of stock of the Corporation the
issuance of which shall have been authorized by the Board.
(g)
The Treasurer shall perform, in general, all duties incident
to the office of treasurer and such other duties as may be specified in these bylaws or as may be assigned to the Treasurer from
time to time by the Board or the President.
Section
4.10 Security. The Board may require any officer, agent or employee of the Corporation to provide security for the
faithful performance of his or her duties, in such amount and of such character as may be determined from time to time by the Board.
Article
V
CAPITAL STOCK
Section
5.01 Certificates of Stock; Uncertificated Shares. The shares of the Corporation shall be represented by certificates,
except to the extent that the Board has provided by resolution that some or all of any or all classes or series of the stock of
the Corporation 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 in the Corporation represented by certificates shall
be entitled to have, and the Board may in its sole discretion permit a holder of uncertificated shares to receive upon request,
a certificate signed by the President or a Vice President, and by the Treasurer or an Assistant Treasurer, or the Secretary or
an Assistant Secretary, representing the number of shares registered in certificate form. Such certificate shall be in such form
as the Board may determine, to the extent consistent with applicable law, the certificate of incorporation and these bylaws.
Section
5.02 Facsimile Signatures. Any or all signatures on the certificates referred to in Section 5.01 of these bylaws
may be in facsimile form, to the extent permitted by law. If any officer, transfer agent or registrar who has signed, or whose
facsimile signature has been placed upon, a certificate shall have 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 he or she were such officer, transfer
agent or registrar at the date of issue.
Section
5.03 Lost, Stolen or Destroyed Certificates. A new certificate may be issued in place of any certificate theretofore
issued by the Corporation alleged to have been lost, stolen or destroyed only upon delivery to the Corporation of an affidavit
of the owner or owners (or their legal representatives) of such certificate, setting forth such allegation, and a bond or other
undertaking as may be satisfactory to a financial officer of the Corporation designated by the Board to indemnify the Corporation
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 any such new certificate.
Section
5.04 Transfer of Stock.
(a)
Upon surrender to the Corporation or the transfer agent of
the Corporation of a certificate for shares, duly endorsed or accompanied by appropriate evidence of succession, assignment or
authority to transfer, the Corporation shall issue a new certificate to the person entitled thereto, cancel the old certificate
and record the transaction upon its books. Within a reasonable time after the transfer of uncertificated stock, the Corporation
shall send to the registered owner thereof a written notice containing the information required to be set forth or stated on certificates
pursuant to Sections 151, 156, 202(a) or 218(a) of the DGCL. Subject to the provisions of the certificate of incorporation and
these bylaws, the Board may prescribe such additional rules and regulations as it may deem appropriate relating to the issue, transfer
and registration of shares of the Corporation.
(b)
The Corporation may enter into additional agreements with stockholders
to restrict the transfer of stock of the Corporation in any manner not prohibited by the DGCL.
Section
5.05 Registered Stockholders. Prior to due surrender of a certificate for registration of transfer, the Corporation
may treat the registered owner as the person exclusively entitled to receive dividends and other distributions, to vote, to receive
notice and otherwise to exercise all the rights and powers of the owner of the shares represented by such certificate, and the
Corporation shall not be bound to recognize any equitable or legal claim to or interest in such shares on the part of any other
person, whether or not the Corporation shall have notice of such claim or interests. If a transfer of shares is made for collateral
security, and not absolutely, this fact shall be so expressed in the entry of the transfer if, when the certificates are presented
to the Corporation for transfer or uncertificated shares are requested to be transferred, both the transferor and transferee request
the Corporation to do so.
Section
5.06 Transfer Agent and Registrar. The Board may appoint one or more transfer agents and one or more registrars,
and may require all certificates representing shares to bear the signature of any such transfer agents or registrars.
Article
VI
INDEMNIFICATION
Section
6.01 Indemnification.
(a)
In General. The Corporation shall indemnify, to the
full extent permitted by the DGCL and other applicable law, 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 (each,
a “proceeding”) by reason of the fact that (x) such person is or was serving or has agreed to serve as a Director
or officer of the Corporation, or (y) such person, while serving as a Director or officer of the Corporation, is or was serving
or has agreed to serve at the request of the Corporation as a Director, officer, employee, manager or agent of another corporation,
partnership, joint venture, trust or other enterprise or (z) such person is or was serving or has agreed to serve at the request
of the Corporation as a Director, officer or manager of another corporation, partnership, joint venture, trust or other enterprise,
or by reason of any action alleged to have been taken or omitted by such person in such capacity, and who satisfies the applicable
standard of conduct set forth in the DGCL or other applicable law:
1.
in a proceeding other than a proceeding by
or in the right of the Corporation, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by such person or on such person’s behalf in connection with such proceeding and any appeal
therefrom, or
2.
in a proceeding by or in the right of the
Corporation to procure a judgment in its favor, against expenses (including attorneys’ fees) actually and reasonably incurred
by such person or on such person’s behalf in connection with the defense or settlement of such proceeding and any appeal
therefrom.
(b)
Indemnification in Respect of 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 proceeding referred to in Section 6.01(a) or in defense of any claim, issue or matter therein, such person shall be indemnified
by the Corporation against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection
therewith.
(c)
Indemnification in Respect of Proceedings Instituted by
Indemnitee. Section 6.01(a) does not require the Corporation to indemnify a present or former Director or officer of the Corporation
in respect of a proceeding (or part thereof) instituted by such person on his or her own behalf, unless such proceeding (or part
thereof) has been authorized by the Board or the indemnification requested is pursuant to the last sentence of Section 6.03 of
these bylaws.
Section
6.02 Advance of Expenses. The Corporation shall advance all expenses (including reasonable attorneys’ fees)
incurred by a present or former Director or officer in defending any proceeding prior to the final disposition of such proceeding
upon written request of such person and delivery of an undertaking by such person to repay such amount if it shall ultimately be
determined that such person is not entitled to be indemnified by the Corporation. The Corporation may authorize any counsel for
the Corporation to represent (subject to applicable conflict of interest considerations) such present or former Director or officer
in any proceeding, whether or not the Corporation is a party to such proceeding
Section
6.03 Procedure for Indemnification. Any indemnification under Section 6.01 of these bylaws or any advance of expenses
under Section 6.02 of these bylaws shall be made only against a written request therefor (together with supporting documentation)
submitted by or on behalf of the person seeking indemnification or advance. Indemnification may be sought by a person under Section
6.01 of these bylaws in respect of a proceeding only to the extent that both the liabilities for which indemnification is sought
and all portions of the proceeding relevant to the determination of whether the person has satisfied any appropriate standard of
conduct have become final. A person seeking indemnification or advance of expenses may seek to enforce such person’s rights
to indemnification or advance of expenses (as the case may be) in the Delaware Court of Chancery to the extent all or any portion
of a requested indemnification has not been granted within 90 days of, or to the extent all or any portion of a requested advance
of expenses has not been granted within 20 days of, the submission of such request. All expenses (including reasonable attorneys’
fees) incurred by such person in connection with successfully establishing such person’s right to indemnification or advancement
of expenses under this Article, in whole or in part, shall also be indemnified by the Corporation.
Section
6.04 Burden of Proof.
(a)
In any proceeding brought to enforce the right of a person
to receive indemnification to which such person is entitled under Section 6.01 of these bylaws, the Corporation has the burden
of demonstrating that the standard of conduct applicable under the DGCL or other applicable law was not met. A prior determination
by the Corporation (including its Board or any committee thereof, its independent legal counsel, or its stockholders) that the
claimant has not met such applicable standard of conduct does not itself constitute evidence that the claimant has not met the
applicable standard of conduct.
(b)
In any proceeding brought to enforce a claim for advances to
which a person is entitled under Section 6.02 of these bylaws, the person seeking an advance need only show that he or she has
satisfied the requirements expressly set forth in Section 6.02 of these bylaws.
Section
6.05 Contract Right; Non-Exclusivity; Survival.
(a)
The rights to indemnification and advancement of expenses provided
by this Article VI shall be deemed to be separate contract rights between the Corporation and each Director and officer who serves
in any such capacity at any time while these provisions as well as the relevant provisions of the DGCL are in effect, and no repeal
or modification of any of these provisions or any relevant provisions of the DGCL shall adversely affect any right or obligation
of such Director or officer existing at the time of such repeal or modification with respect to any state of facts then or previously
existing or any proceeding previously or thereafter brought or threatened based in whole or in part upon any such state of facts.
Such “contract rights” may not be modified retroactively as to any present or former Director or officer without the
consent of such Director or officer.
(b)
The rights to indemnification and advancement of expenses provided
by this Article VI shall not be deemed exclusive of any other indemnification or advancement of expenses to which a present or
former Director or officer of the Corporation seeking indemnification or advancement of expenses may be entitled by any agreement,
vote of stockholders or disinterested Directors, or otherwise.
(c)
The rights to indemnification and advancement of expenses provided
by this Article VI to any present or former Director or officer of the Corporation shall inure to the benefit of the heirs, executors
and administrators of such person.
Section
6.06 Insurance. The Corporation may purchase and maintain insurance on behalf of any person who is or was or has
agreed to become a Director or officer of the Corporation, or is or was serving at the request of the Corporation as a Director
or officer of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against
such person and incurred by such person or on such person’s behalf 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 the provisions
of this Article.
Section
6.07 Employees and Agents. The Board, or any officer authorized by the Board to make indemnification decisions, may
cause the Corporation to indemnify any present or former employee or agent of the Corporation in such manner and for such liabilities
as the Board may determine, up to the fullest extent permitted by the DGCL and other applicable law.
Section
6.08 Interpretation; Severability. Terms defined in Sections 145(h) or (i) of the DGCL have the meanings set forth
in such sections when used in this Article VI. If this Article or any portion hereof shall be invalidated on any ground by any
court of competent jurisdiction, then the Corporation shall nevertheless indemnify each Director or officer of the Corporation
as to costs, charges and expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement with respect
to any action, suit or proceeding, whether civil, criminal, administrative or investigative, including an action by or in the right
of the Corporation, to the fullest extent permitted by any applicable portion of this Article that shall not have been invalidated
and to the fullest extent permitted by applicable law.
Article
VII
OFFICES
Section
7.01 Registered Office. The registered office of the Corporation in the State of Delaware shall be located at the
location provided in the Corporation’s certificate of incorporation.
Section
7.02 Other Offices. The Corporation may maintain offices or places of business at such other locations within or
without the State of Delaware as the Board may from time to time determine or as the business of the Corporation may require.
Article
VIII
GENERAL PROVISIONS
Section
8.01 Dividends.
(a)
Subject to any applicable provisions of law and the certificate
of incorporation, dividends upon the shares of the Corporation may be declared by the Board at any regular or special meeting of
the Board, or by written consent in accordance with the DGCL and these bylaws, and any such dividend may be paid in cash, property,
or shares of the Corporation’s stock.
(b)
A member of the Board, or a member of any committee designated
by the Board shall be fully protected in relying in good faith upon the records of the Corporation and upon such information, opinions,
reports or statements presented to the Corporation by any of its officers or employees, or committees of the Board, or by any other
person as to matters the Director reasonably believes are within such other person’s professional or expert competence and
who has been selected with reasonable care by or on behalf of the Corporation, as to the value and amount of the assets, liabilities
and/or net profits of the Corporation, or any other facts pertinent to the existence and amount of surplus or other funds from
which dividends might properly be declared and paid.
Section
8.02 Reserves. There may be set apart out of any funds of the Corporation available for dividends such sum or sums
as the Board from time to time may determine proper as a reserve or reserves for meeting contingencies, equalizing dividends, repairing
or maintaining any property of the Corporation or for such other purpose or purposes as the Board may determine conducive to the
interest of the Corporation, and the Board may similarly modify or abolish any such reserve.
Section
8.03 Execution of Instruments. Except as otherwise required by law or the certificate of incorporation, the Board
or any officer of the Corporation authorized by the Board may authorize any other officer or agent of the Corporation to enter
into any contract or execute and deliver any instrument in the name and on behalf of the Corporation. Any such authorization must
be in writing or by electronic transmission and may be general or limited to specific contracts or instruments.
Section
8.04 Voting as Stockholder. Unless otherwise determined by resolution of the Board, the President or any Vice President
shall have full power and authority on behalf of the Corporation to attend any meeting of stockholders of any corporation in which
the Corporation may hold stock, and to act, vote (or execute proxies to vote) and exercise in person or by proxy all other rights,
powers and privileges incident to the ownership of such stock at any such meeting, or through action without a meeting. The Board
may by resolution from time to time confer such power and authority (in general or confined to specific instances) upon any other
person or persons.
Section
8.05 Fiscal Year. The fiscal year of the Corporation shall commence on the first day of April of each year (except
for the Corporation’s first fiscal year which shall commence on the date of incorporation) and shall terminate in each case
on March 31.
Section
8.06 Seal. The seal of the Corporation shall be circular in form and shall contain the name of the Corporation, the
year of its incorporation and the words “Corporate Seal” and “Delaware”. The form of such seal shall be
subject to alteration by the Board. The seal may be used by causing it or a facsimile thereof to be impressed, affixed or reproduced,
or may be used in any other lawful manner.
Section
8.07 Books and Records; Inspection. Except to the extent otherwise required by law, the books and records of the
Corporation shall be kept at such place or places within or without the State of Delaware as may be determined from time to time
by the Board.
Section
8.08 Electronic Transmission. “Electronic transmission”, as used in these bylaws, 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.
Article
IX
AMENDMENT OF BYLAWS
Section
9.01 Amendment. Subject to the provisions of the certificate of incorporation, these bylaws may be amended, altered
or repealed (a) by resolution adopted by a majority of the Board at any special or regular meeting of the Board if, in the case
of such special meeting only, notice of such amendment, alteration or repeal is contained in the notice or waiver of notice of
such meeting or (b) at any regular or special meeting of the stockholders upon the affirmative vote of at least two-thirds of the
shares of the Corporation entitled to vote generally in the election of Directors if, in the case of such special meeting only,
notice of such amendment, alteration or repeal is contained in the notice or waiver of notice of such meeting.
Notwithstanding the foregoing, no amendment, alteration or repeal
of Article VI shall adversely affect any right or protection existing under bylaws immediately prior to such amendment, alteration
or repeal, including any right or protection of a Director thereunder in respect of any act or omission occurring prior to the
time of such amendment.
