Company: DERM
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041214
Chunk: 44

Company: Journey Medical Corp
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 44
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. Additionally, the Officer Exculpation Provisions will align the protections for our officers with those protections already afforded to our directors. In light of the Section 102(b)(7) Amendment, we propose to amend and restate our Third Amended and Restated Certificate of Incorporation to add a provision exculpating certain of the Company’s officers from liability, as permitted by Delaware law, similar to the protections currently available for directors of the Company in our current Third Amended and Restated Certificate of Incorporation. If this proposal is approved and our current Third Amended and Restated Certificate of Incorporation is amended and restated, the Company’s officers, in addition to the Company’s directors, would be exculpated from monetary liability for fiduciary duty breaches, solely to the extent permitted under Section 102(b)(7) of the DGCL. With these changes, we aim to strike a balance between stockholders’ interest in accountability and their interest in the Company being able to attract and retain quality officers to work on its behalf. For these reasons, our board of directors has determined that it is in the best interests of the Company and its stockholders to seek to update the exculpation provision. 28 TABLE OF CONTENTS Other Modifications The Board is also recommending the following changes to our Third Amended and Restated Certificate of Incorporation to remove inapplicable or outdated provisions, which changes are included in the draft Fourth Amended and Restated Certificate of Incorporation set forth in Annex A : • Clarifying, but not changing, clauses describing the number of shares of capital stock available for issuance under Article IV, Section 1. • Removing provisions in Article IV Section 3.3.1 that provided that for a period of 10 years from the date of the first issuance of shares of Class A Common Stock, the holders of record of the shares of Class A Common Stock, exclusively and as a separate class, would be entitled to appoint or elect the majority of the directors of the Company, as this 10-year period has passed. Proposed Changes If approved, Article VIII of our current Third Amended and Restated Certificate of Incorporation would be replaced in its entirety to read as follows: To the fullest extent permitted by the DGCL, as the same exists or may hereafter be amended, a director or officer of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer. Any amendment, repeal or