Company: UIS
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001104659-25-027313
Chunk: 77

Company: UNISYS CORP
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 77
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 in which an officer derived an improper personal benefit. Section 102(b)(7) also does not permit exculpation of an officer in any action by or in the right of the Company, such as derivative actions. Currently, Article X of our Restated Certificate of Incorporation includes an exculpation provision for directors, but not for officers. To keep our Restated Certificate of Incorporation aligned with the amended Section 102(b)(7), we are proposing to update Article X of our Restated Certificate of Incorporation to also provide an exculpation provision for officers. If the Officer Exculpation Amendment is approved by our stockholders, certain officers will be exculpated from monetary liability from certain fiduciary duty breaches, solely to the extent permitted by the DGCL. Our Board believes that officer exculpation will enhance the ability of our officers to make value-enhancing decisions. Our officers are often called upon to make time-sensitive decisions which, in the current litigious environment, carry with them a risk of claims, actions, suits or proceedings that will require a significant investment of the Company’s time and resources to address, regardless of the merit of the claims. An exculpation provision for officers will allow them to best exercise their business judgment to advance the goals of the Company and maximize the Company’s value. Further, our officers would not be protected from liability under our Officer Exculpation Amendment for (i) breaches of the duty of loyalty to the Company or its stockholders, (ii) acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law, (iii) any transactions in which an officer derived an improper personal benefit or (iv) actions by or in the right of the Company, all in accordance with the DGCL. Additionally, we operate in a competitive industry. The Board believes it is important to protect our officers to the fullest extent permitted by the DGCL to continue to attract and retain experienced and highly qualified officers. Many corporations that are organized in Delaware have adopted, and others will likely continue to adopt, amendments to their certificates of incorporation that limit the personal liability of officers. Our failure to adopt the Officer Exculpation Amendment could impact our ability to recruit and retain experienced and highly qualified officers. The affirmative vote of holders of a majority of the outstanding shares of common stock is needed to approve this proposal. If approved by the Company’s stockholders, an Amended and Restated Certificate of Incorporation reflecting the Officer Excul