exv4w1






Exhibit 4.1




ARTICLES OF RESTATEMENT

OF

RESTATED

ARTICLES OF INCORPORATION

OF STERLING FINANCIAL CORPORATION




     The undersigned officer of Sterling Financial Corporation (the “Corporation”), on behalf of
the Corporation does hereby certify that the following correctly set forth the Restated Articles
of Incorporation of the Corporation. These Restated Articles of Incorporation shall completely
supersede the Corporation’s Restated Articles of Incorporation and Articles of Amendment of
Restated Articles of Incorporation.



Article I




     The name of the Corporation is Sterling Financial Corporation.



Article II




     The principal place of business of the Corporation shall be in the City of Spokane, Spokane
County, Washington.



Article III




     The purpose of this Corporation is to serve as a holding company and to transact such other
business and perform such other acts as are permitted under federal law or the law of the State of
Washington as such laws are now in effect or at any time in the future may be amended.



Article IV




     The duration of the Corporation shall be perpetual.



Article V




     The total number of shares of stock which the Corporation shall have the authority to issue is
one hundred and ten million (110,000,000), of which one hundred million shall be Common Stock
having a par value of One Dollar ($1.00) per share and ten million (10,000,000) shall be Preferred
Stock having a par value of One Dollar ($1.00) per share. Cumulative voting rights shall not exist
with respect to shares of stock or securities converted into shares of stock of the Corporation.
The Board of Directors is hereby authorized, subject to the limitations prescribed by law and the
provisions hereof, at its option, from time to time, to divide all or any part of the Preferred
Stock into series thereof, to establish from time to time the number of shares to be included in
any such series, and to fix the designation, powers, preferences and rights of the shares of each
such series and qualifications, limitations or restrictions thereof, and to determine variations,
if any, between any series so established as to all matters, including, but not limited to, the
determination of the following:



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     (a) the number of shares constituting each such series and the distinctive
designation of such series;




     (b) the rate of dividend, if any, and whether dividends shall be cumulative or
noncumulative;




     (c) whether or not such series shall be redeemable and, if so, the terms and
conditions upon which shares of such series shall be redeemable, including the date or
dates after which they shall be redeemable, and the amount per share payable in case of
redemption, which amount may vary under different conditions and at different
redemption dates;




     (d) the extent, if any, to which such series shall have the benefit of any
sinking fund provisions for redemption or purchase of shares;




     (e) the rights, if any, of such series in the event of dissolution of the
Corporation or upon any distribution of the assets of the Corporation, including with
respect to voluntary or involuntary liquidation, dissolution or winding up of
the
Corporation, and the relative rights of priority, if any, of payment of shares of such
series;




     (f) whether or not the Shares of such series shall be convertible and, if so, the
terms and conditions of which shares of such series shall be so convertible; and




     (g) such other powers, designations, preferences and relative participating,
optional or other special rights and such qualifications, limitations or restrictions
thereon
to the extent permitted by law.



     A series of Preferred Stock, par value one dollar ($1.00) per share, of the Corporation be
and hereby is created, and that the designation and number of shares of such series, and the
voting and other powers, preferences and relative, participating, optional or other rights, and
the qualifications, limitations and restrictions thereof, of the shares of such series, are as
follows:




     Part 1. Designation and Number of Shares. There is hereby created out of the
authorized and unissued shares of preferred stock of the Corporation a series of preferred
stock designated as the “Fixed Rate Cumulative Perpetual Preferred Stock, Series A” (the
“Designated Preferred Stock”). The authorized number of shares of Designated Preferred
Stock shall be 303,000.




     Part 2. Standard Provisions. The Standard Provisions contained in Annex A
attached hereto are incorporated herein by reference in their entirety and shall be deemed
to be a part of these Articles of Amendment to the same extent as if such provisions had
been set forth in full herein.




     Part. 3. Definitions. The following terms are used in these Articles of
Amendment (including the Standard Provisions in Annex A hereto) as defined below:




     (a) “Common Stock” means the common stock, par value one dollar ($1.00) per share, of
the Corporation.



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     (b) “Dividend Payment Date” means February 15, May 15, August 15 and
November 15 of each year.




     (c) “Junior Stock” means the Common Stock, and any other class or series of
stock of the Corporation the terms of which expressly provide that it ranks junior to
Designated Preferred Stock as to dividend rights and/or as to rights on liquidation,
dissolution or winding up of the Corporation.




     (d) “Liquidation Amount” means $1,000 per share of Designated Preferred
Stock.




     (e) “Minimum Amount” means $75,750,000.




     (f) “Parity Stock” means any class or series of stock of the Corporation (other
than Designated Preferred Stock) the terms of which do not expressly provide that such
class or series will rank senior or junior to Designated Preferred Stock as to
dividend
rights and/or as to rights on liquidation, dissolution or winding up of the Corporation
(in
each case without regard to whether dividends accrue cumulatively
or non-
cumulatively).




     (g) “Signing Date” means December 5, 2008.




     Part. 4. Certain Voting Matters. Holders of shares of Designated Preferred
Stock will be entitled to one vote for each such share on any matter on which holders of
Designated Preferred Stock are entitled to vote, including any action by written consent.



Article VI




     The registered agent of this Corporation and the street address of the registered office of
this Corporation are as follows:



	 	 	 
	Registered Agent	 	Address
	Eleven-Fourteen, Inc.

	 	1100 U.S. Bank Building
	 

	 	422 West Riverside Avenue
	 

	 	Spokane, WA 99201-0390






Article VII




     Shareholders of this Corporation shall not have preemptive rights to acquire additional shares
offered for sale by this Corporation.



Article VIII




     Shareholders of this Corporation shall not have cumulative
voting rights.




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Article IX




     The term of each director of the Corporation shall be for one year. Each director shall hold
office until the next annual meeting of shareholders following his or her election and until his
or her successor is duly elected and qualified; provided that any director who was elected for a
three-year term under a prior version of this Article IX shall continue to hold office for the
balance of the term for which he or she was elected and until his or her successor is duly elected
and qualified.



Article X




     A director of the Corporation shall not be personally liable to the Corporation or its
shareholders for monetary damages arising from any conduct as a director, except for liability of
the director for (i) acts or omissions that involve intentional misconduct or a knowing violation
of law by the director, (ii) conduct which violates RCW 23B.08.310 of the Washington Business
Corporation Act, pertaining to unpermitted distributions to shareholders, or (iii) any transaction
from which the director will personally receive a benefit in money, property or services to which
the director is not legally entitled. Should the Washington Business Corporation Act be amended to
authorize corporate action further eliminating or limiting the personal liability of directors,
then the liability of a director of the Corporation shall be so amended. Any repeal or modification
of the foregoing paragraph by the shareholders of the Corporation shall not adversely affect any
right or protection of a director of the Corporation existing at the time of such repeal or
modification.



Article XI




     To the fullest extent allowed by applicable laws existing from time to time, any person may,
and directors and officers shall, be indemnified or reimbursed by the Corporation for reasonable
expenses (including attorneys’ fees) actually incurred in connection with any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative
to which he/she or they shall be made a party or threatened to be made a party by reason of
his/her being or having been a director, officer, employee or agent of the Corporation or of any
firm, corporation, employee benefit plan or other organization which; he/she served in any such
capacity at the request of the Corporation; provided, however, that no such person shall
be so indemnified or reimbursed (1) in relation to any matter in such action, suit or proceeding
as to which he/she shall finally be adjudged to have been guilty or liable for gross negligence,
willful misconduct or criminal acts in the performance of his/her duties to the Corporation; or
(2) in relation to any matter in such action, suit or proceeding which has been made the subject
of a compromise settlement except with the approval of (a) a court of competent jurisdiction, (b)
the holders of record of a majority of the outstanding shares of the Corporation, or (c) the Board
of Directors, acting by vote of a majority of directors not parties to the same or substantially
the same action, suit or proceeding, whether or not such a majority constitutes a quorum. The
foregoing right of indemnification or reimbursement shall not be exclusive of other rights to
which such person, his/her heirs, executors or administrators may be entitled as a matter of law.
Those persons indemnified hereunder shall be deemed to include the heirs, legal representatives,
executors and administrators of such person.



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     The Corporation shall pay the expenses (including attorneys’ fees) incurred in defending a
civil or criminal action, suit or proceeding. The director, officer, employee or agent must repay
such amount, however, if it shall ultimately be determined that he/she is not entitled to be
indemnified by the Corporation as authorized in this section.



Article XII




     The name and address of the incorporator is:



	 	 	 
	Name 	 	Address
	Eleven-Fourteen, Inc.

	 	1100 U.S. Bank Building
	 

	 	422 West Riverside Avenue
	 

	 	Spokane, WA 99201-0390






     IN WITNESS WHEREOF, the Corporation has caused these Restated Articles of Incorporation to be
executed this 5th day of May, 2009.



	 	 	 	 	 
	 	STERLING FINANCIAL CORPORATION 

 	 
	 	By 	/s/ Daniel G. Byrne
 	 
	 	      Daniel G. Byrne, 	 
	 	      Executive Vice President,

      Assistant Secretary and

      Principal Financial Officer 	 
	 








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ANNEX A




STANDARD PROVISIONS




     Section 1. General Matters. Each share of Designated Preferred Stock shall be
identical in all respects to every other share of Designated Preferred Stock. The Designated
Preferred Stock shall be perpetual, subject to the provisions of Section 5 of these Standard
Provisions that form a part of the Certificate of Designations. The Designated Preferred Stock
shall rank equally with Parity Stock and shall rank senior to Junior Stock with respect to the
payment of dividends and the distribution of assets in the event of any dissolution, liquidation
or winding up of the Corporation.



     Section 2. Standard Definitions. As used herein with respect to Designated Preferred
Stock:



     (a) “Applicable Dividend Rate” means (i) during the period from the Original Issue
Date to, but excluding, the first day of the first Dividend Period commencing on or after the
fifth
anniversary of the Original Issue Date, 5% per annum and (ii) from and after the first day of
the
first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date,
9% per annum.



     (b) “Appropriate Federal Banking Agency” means the “appropriate Federal banking
agency” with respect to the Corporation as defined in Section 3(q) of the Federal Deposit
Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.



     (c) “Business Combination” means a merger, consolidation, statutory share exchange
or similar transaction that requires the approval of the Corporation’s stockholders.



     (d) “Business Day” means any day except Saturday, Sunday and any day on which
banking institutions in the State of New York generally are authorized or required by law or
other governmental actions to close.



     (e) “Bylaws” means the bylaws of the Corporation, as they may be amended from
time to time.



     (f) “Certificate of Designations” means the Articles of Amendment or comparable
instrument relating to the Designated Preferred Stock, of which these Standard Provisions form
a part, as it may be amended from time to time.



     (g) “Charter” means the Corporation’s certificate or articles of incorporation, articles
of association, or similar organizational document.



     (h) “Dividend Period” has the meaning set forth in Section 3(a).



     (i) “Dividend Record Date” has the meaning set forth in Section 3(a).



     (j) “Liquidation Preference” has the meaning set forth in Section 4(a).



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     (k) “Original Issue Date” means the date on which shares of Designated Preferred
Stock are first issued.



     (1) “Preferred Director” has the meaning set forth in Section 7(b).



     (m) “Preferred Stock” means any and all series of preferred stock of the Corporation,
including the Designated Preferred Stock.



     (n) “Qualified Equity Offering” means the sale and issuance for cash by the
Corporation to persons other than the Corporation or any of its subsidiaries after the Original
Issue Date of shares of perpetual Preferred Stock, Common Stock or any combination of such stock,
that, in each case, qualify as and may be included in Tier 1 capital of the Corporation at the
time of issuance under the applicable risk-based capital guidelines of the Corporation’s
Appropriate Federal Banking Agency (other than any such sales and issuances made pursuant to
agreements or arrangements entered into, or pursuant to financing plans which were publicly
announced, on or prior to October 13, 2008).



     (o) “Share Dilution Amount” has the meaning set forth in Section 3(b).



     (p) “Standard Provisions” mean these Standard Provisions that form a part of the
Certificate of Designations relating to the Designated Preferred Stock.



     (q) “Successor Preferred Stock” has the meaning set forth in Section 5(a).



     (r) “Voting Parity Stock” means, with regard to any matter as to which the holders of
Designated Preferred Stock are entitled to vote as specified in Sections 7(a) and 7(b) of these
Standard Provisions that form a part of the Certificate of Designations, any and all series of
Parity Stock upon which like voting rights have been conferred and are exercisable with respect to
such matter.



     Section 3. Dividends.



     (a) Rate. Holders of Designated Preferred Stock shall be entitled to receive, on each
share of Designated Preferred Stock if, as and when declared by the Board of Directors or any duly
authorized committee of the Board of Directors, but only out of assets legally available therefor,
cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per
annum equal to the Applicable Dividend Rate on (i) the Liquidation Amount per share of Designated
Preferred Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period
on such share of Designated Preferred Stock, if any. Such dividends shall begin to accrue and be
cumulative from the Original Issue Date, shall compound on each subsequent Dividend Payment Date
(i.e., no dividends shall accrue on other dividends unless and until the first Dividend Payment
Date for such other dividends has passed without such other dividends having been paid on such
date) and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the
first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date.
In the event that any Dividend Payment Date would otherwise fall on a day that is not a Business
Day, the dividend payment due on that date will be postponed to the next day that is a Business Day
and no additional dividends will accrue as a result of that postponement. The period from and
including any Dividend Payment Date to, but




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excluding, the next Dividend Payment Date is a “Dividend Period”, provided that the initial
Dividend Period shall be the period from and including the Original Issue Date to, but excluding,
the next Dividend Payment Date.




     Dividends that are payable on Designated Preferred Stock in respect of any Dividend Period
shall be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of
dividends payable on Designated Preferred Stock on any date prior to the end of a Dividend Period,
and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting
of twelve 30-day months, and actual days elapsed over a 30-day month.



     Dividends that are payable on Designated Preferred Stock on any Dividend Payment Date will be
payable to holders of record of Designated Preferred Stock as they appear on the stock register of
the Corporation on the applicable record date, which shall be the 15th calendar day immediately
preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or
any duly authorized committee of the Board of Directors that is not more than 60 nor less than 10
days prior to such Dividend Payment Date (each, a “Dividend Record Date”). Any such day
that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a
Business Day.



     Holders of Designated Preferred Stock shall not be entitled to any dividends, whether payable
in cash, securities or other property, other than dividends (if any) declared and payable on
Designated Preferred Stock as specified in this Section 3 (subject to the other provisions of the
Certificate of Designations).



     (b) Priority of Dividends. So long as any share of Designated Preferred Stock remains
outstanding, no dividend or distribution shall be declared or paid on the Common Stock or any other
shares of Junior Stock (other than dividends payable solely in shares of Common Stock) or Parity
Stock, subject to the immediately following paragraph in the case of Parity Stock, and no Common
Stock, Junior Stock or Parity Stock shall be, directly or indirectly, purchased, redeemed or
otherwise acquired for consideration by the Corporation or any of its subsidiaries unless all
accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend
Period (including, if applicable as provided in Section 3(a) above, dividends on such amount), on
all outstanding shares of Designated Preferred Stock have been or are contemporaneously declared
and paid in full (or have been declared and a sum sufficient for the payment thereof has been set
aside for the benefit of the holders of shares of Designated Preferred Stock on the applicable
record date). The foregoing limitation shall not apply to (i) redemptions, purchases or other
acquisitions of shares of Common Stock or other Junior Stock in connection with the administration
of any employee benefit plan in the ordinary course of business (including purchases to offset the
Share Dilution Amount (as defined below) pursuant to a publicly announced repurchase plan) and
consistent with past practice, provided that any purchases to offset the Share Dilution Amount
shall in no event exceed the Share Dilution Amount; (ii) purchases or other acquisitions by a
broker-dealer subsidiary of the Corporation solely for the purpose of market-making, stabilization
or customer facilitation transactions in Junior Stock or Parity Stock in the ordinary course of its
business; (iii) purchases by a broker-dealer subsidiary of the Corporation of capital stock of the
Corporation for resale pursuant to an offering by the Corporation of such capital stock
underwritten by such broker-dealer subsidiary; (iv) any dividends or distributions of rights or
Junior Stock in connection with a stockholders’ rights plan or any redemption or repurchase of
rights pursuant to any stockholders’ rights plan;




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(v) the acquisition by the Corporation or any of its subsidiaries of record ownership in Junior
Stock or Parity Stock for the beneficial ownership of any other persons (other than the
Corporation or any of its subsidiaries), including as trustees or custodians; and (vi) the
exchange or conversion of Junior Stock for or into other Junior Stock or of Parity Stock for or
into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in
each case, solely to the extent required pursuant to binding contractual agreements entered into
prior to the Signing Date or any subsequent agreement for the accelerated exercise, settlement or
exchange thereof for Common Stock. “Share Dilution Amount” means the increase in the
number of diluted shares outstanding (determined in accordance with generally accepted accounting
principles in the United States, and as measured from the date of the Corporation’s consolidated
financial statements most recently filed with the Securities and Exchange Commission prior to the
Original Issue Date) resulting from the grant, vesting or exercise of equity-based compensation to
employees and equitably adjusted for any stock split, stock dividend, reverse stock split,
reclassification or similar transaction.




     When dividends are not paid (or declared and a sum sufficient for payment thereof set aside
for the benefit of the holders thereof on the applicable record date) on any Dividend Payment Date
(or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment
Dates, on a dividend payment date falling within a Dividend Period related to such Dividend Payment
Date) in full upon Designated Preferred Stock and any shares of Parity Stock, all dividends
declared on Designated Preferred Stock and all such Parity Stock and payable on such Dividend
Payment Date (or, in the case of Parity Stock having dividend payment dates different from the
Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to
such Dividend Payment Date) shall be declared pro rata so that the respective amounts of such
dividends declared shall bear the same ratio to each other as all accrued and unpaid dividends per
share on the shares of Designated Preferred Stock (including, if applicable as provided in Section
3(a) above, dividends on such amount) and all Parity Stock payable on such Dividend Payment Date
(or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment
Dates, on a dividend payment date falling within the Dividend Period related to such Dividend
Payment Date) (subject to their having been declared by the Board of Directors or a duly authorized
committee of the Board of Directors out of legally available funds and including, in the case of
Parity Stock that bears cumulative dividends, all accrued but unpaid dividends) bear to each other.
If the Board of Directors or a duly authorized committee of the Board of Directors determines not
to pay any dividend or a full dividend on a Dividend Payment Date, the Corporation will provide
written notice to the holders of Designated Preferred Stock prior to such Dividend Payment Date.



     Subject to the foregoing, and not otherwise, such dividends (payable in cash, securities or
other property) as may be determined by the Board of Directors or any duly authorized committee of
the Board of Directors may be declared and paid on any securities, including Common Stock and
other Junior Stock, from time to time out of any funds legally available for such payment, and
holders of Designated Preferred Stock shall not be entitled to participate in any such dividends.



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     Section 4. Liquidation Rights.



     (a) Voluntary or Involuntary Liquidation. In the event of any liquidation, dissolution
or winding up of the affairs of the Corporation, whether voluntary or involuntary, holders of
Designated Preferred Stock shall be entitled to receive for each share of Designated Preferred
Stock, out of the assets of the Corporation or proceeds thereof (whether capital or surplus)
available for distribution to stockholders of the Corporation, subject to the rights of any
creditors
of the Corporation, before any distribution of such assets or proceeds is made to or set aside
for
the holders of Common Stock and any other stock of the Corporation ranking junior to
Designated Preferred Stock as to such distribution, payment in full in an amount equal to the
sum
of (i) the Liquidation Amount per share and (ii) the amount of any accrued and unpaid
dividends
(including, if applicable as provided in Section 3(a) above, dividends on such amount),
whether
or not declared, to the date of payment (such amounts collectively, the
“Liquidation Preference”).



     (b) Partial Payment. If in any distribution described in Section 4(a) above the assets
of the Corporation or proceeds thereof are not sufficient to pay in full the amounts payable
with
respect to all outstanding shares of Designated Preferred Stock and the corresponding amounts
payable with respect of any other stock of the Corporation ranking equally with Designated
Preferred Stock as to such distribution, holders of Designated Preferred Stock and the holders
of
such other stock shall share ratably in any such distribution in proportion to the full
respective
distributions to which they are entitled.



     (c) Residual Distributions. If the Liquidation Preference has been paid in full to all
holders of Designated Preferred Stock and the corresponding amounts payable with respect of
any other stock of the Corporation ranking equally with Designated Preferred Stock as to such
distribution has been paid in full, the holders of other stock of the Corporation shall be
entitled to
receive all remaining assets of the Corporation (or proceeds thereof) according to their
respective
rights and preferences.



     (d) Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of this
Section 4, the merger or consolidation of the Corporation with any other corporation or other
entity, including a merger or consolidation in which the holders of Designated Preferred Stock
receive cash, securities or other property for their shares, or the sale, lease or exchange
(for cash,
securities or other property) of all or substantially all of the assets of the Corporation,
shall not
constitute a liquidation, dissolution or winding up of the Corporation.



     Section 5. Redemption.



     (a) Optional Redemption. Except as provided below, the Designated Preferred Stock may
not be redeemed prior to the first Dividend Payment Date falling on or after the third anniversary
of the Original Issue Date. On or after the first Dividend Payment Date falling on or after the
third anniversary of the Original Issue Date, the Corporation, at its option, subject to the
approval of the Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time
and from time to time, out of funds legally available therefor, the shares of Designated
Preferred Stock at the time outstanding, upon notice given as provided in Section 5(c) below, at a
redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) except as
otherwise provided below, any accrued and unpaid dividends (including, if applicable as



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provided in Section 3(a) above, dividends on such amount) (regardless of whether any dividends are
actually declared) to, but excluding, the date fixed for redemption.




     Notwithstanding the foregoing, prior to the first Dividend Payment Date falling on or after
the third anniversary of the Original Issue Date, the Corporation, at its option, subject to the
approval of the Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time
and from time to time, the shares of Designated Preferred Stock at the time outstanding, upon
notice given as provided in Section 5(c) below, at a redemption price equal to the sum of (i) the
Liquidation Amount per share and (ii) except as otherwise provided below, any accrued and unpaid
dividends (including, if applicable as provided in Section 3(a) above, dividends on such amount)
(regardless of whether any dividends are actually declared) to, but excluding, the date fixed for
redemption; provided that (x) the Corporation (or any successor by Business Combination) has
received aggregate gross proceeds of not less than the Minimum Amount (plus the “Minimum Amount”
as defined in the relevant certificate of designations for each other outstanding series of
preferred stock of such successor that was originally issued to the United States Department of
the Treasury (the “Successor Preferred Stock”) in connection with the Troubled Asset
Relief Program Capital Purchase Program) from one or more Qualified Equity Offerings (including
Qualified Equity Offerings of such successor), and (y) the aggregate redemption price of the
Designated Preferred Stock (and any Successor Preferred Stock) redeemed pursuant to this paragraph
may not exceed the aggregate net cash proceeds received by the Corporation (or any successor by
Business Combination) from such Qualified Equity Offerings (including Qualified Equity Offerings
of such successor).



     The redemption price for any shares of Designated Preferred Stock shall be payable on the
redemption date to the holder of such shares against surrender of the certificate(s) evidencing
such shares to the Corporation or its agent. Any declared but unpaid dividends payable on a
redemption date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not
be paid to the holder entitled to receive the redemption price on the redemption date, but rather
shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating
to the Dividend Payment Date as provided in Section 3 above.



     (b) No Sinking Fund. The Designated Preferred Stock will not be subject to any
mandatory redemption, sinking fund or other similar provisions. Holders of Designated
Preferred
Stock will have no right to require redemption or repurchase of any shares of Designated
Preferred Stock.



     (c) Notice of Redemption. Notice of every redemption of shares of Designated
Preferred Stock shall be given by first class mail, postage prepaid, addressed to the holders
of
record of the shares to be redeemed at their respective last addresses appearing on the books
of
the Corporation. Such mailing shall be at least 30 days and not more than 60 days before the
date
fixed for redemption. Any notice mailed as provided in this Subsection shall be conclusively
presumed to have been duly given, whether or not the holder receives such notice, but failure
duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to
any
holder of shares of Designated Preferred Stock designated for redemption shall not affect the
validity of the proceedings for the redemption of any other shares of Designated Preferred
Stock.
Notwithstanding the foregoing, if shares of Designated Preferred Stock are issued in
book-entry
form through The Depository Trust Corporation or any other similar facility, notice
of
redemption may be given to the holders of Designated Preferred Stock at such time and in any



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manner permitted by such facility. Each notice of redemption given to a holder shall state: (1) the
redemption date; (2) the number of shares of Designated Preferred Stock to be redeemed and, if less
than all the shares held by such holder are to be redeemed, the number of such shares to be
redeemed from such holder; (3) the redemption price; and (4) the place or places where certificates
for such shares are to be surrendered for payment of the redemption price.




     (d) Partial Redemption. In case of any redemption of part of the shares of Designated
Preferred Stock at the time outstanding, the shares to be redeemed shall be selected either
pro
rata or in such other manner as the Board of Directors or a duly authorized committee thereof
may determine to be fair and equitable. Subject to the provisions hereof, the Board of
Directors
or a duly authorized committee thereof shall have full power and authority to prescribe the
terms
and conditions upon which shares of Designated Preferred Stock shall be redeemed from time to
time. If fewer than all the shares represented by any certificate are redeemed, a new
certificate
shall be issued representing the unredeemed shares without charge to the holder thereof.



     (e) Effectiveness of Redemption. If notice of redemption has been duly given and if
on or before the redemption date specified in the notice all funds necessary for the
redemption
have been deposited by the Corporation, in trust for the pro rata benefit of the holders of
the shares called for redemption, with a bank or trust company doing business in the Borough of
Manhattan, The City of New York, and having a capital and surplus of at least $500 million and
selected by the Board of Directors, so as to be and continue to be available solely therefore,
then,
notwithstanding that any certificate for any share so called for redemption has not been
surrendered for cancellation, on and after the redemption date dividends shall cease to accrue
on
all shares so called for redemption, all shares so called for redemption shall no longer be
deemed
outstanding and all rights with respect to such shares shall forthwith on such redemption date
cease and terminate, except only the right of the holders thereof to receive the amount
payable on
such redemption from such bank or trust company, without interest. Any funds unclaimed at the
end of three years from the redemption date shall, to the extent permitted by law, be released
to
the Corporation, after which time the holders of the shares so called for redemption shall
look
only to the Corporation for payment of the redemption price of such shares.



     (f) Status of Redeemed Shares. Shares of Designated Preferred Stock that are
redeemed, repurchased or otherwise acquired by the Corporation shall revert to authorized but
unissued shares of Preferred Stock (provided that any such cancelled shares of Designated
Preferred Stock may be reissued only as shares of any series of Preferred Stock other than
Designated Preferred Stock).



     Section 6. Conversion. Holders of Designated Preferred Stock shares shall have no
right to exchange or convert such shares into any other securities.



     Section 7. Voting Rights.



     (a) General. The holders of Designated Preferred Stock shall not have any voting
rights except as set forth below or as otherwise from time to time required by law.



     (b) Preferred Stock Directors. Whenever, at any time or times, dividends payable on
the shares of Designated Preferred Stock have not been paid for an aggregate of six quarterly
Dividend Periods or more, whether or not consecutive, the authorized number of directors of
the



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Corporation shall automatically be increased by two and the holders of the Designated Preferred
Stock shall have the right, with holders of shares of any one or more other classes or series of
Voting Parity Stock outstanding at the time, voting together as a class, to elect two directors
(hereinafter the “Preferred Directors” and each a “Preferred Director”) to fill such newly
created directorships at the Corporation’s next annual meeting of stockholders (or at a special
meeting called for that purpose prior to such next annual meeting) and at each subsequent annual
meeting of stockholders until all accrued and unpaid dividends for all past Dividend Periods,
including the latest completed Dividend Period (including, if applicable as provided in Section
3(a) above, dividends on such amount), on all outstanding shares of Designated Preferred Stock have
been declared and paid in full at which time such right shall terminate with respect to the
Designated Preferred Stock, except as herein or by law expressly provided, subject to revesting in
the event of each and every subsequent default of the character above mentioned; provided that it
shall be a qualification for election for any Preferred Director that the election of such
Preferred Director shall not cause the Corporation to violate any corporate governance requirements
of any securities exchange or other trading facility on which securities of the Corporation may
then be listed or traded that listed or traded companies must have a majority of independent
directors. Upon any termination of the right of the holders of shares of Designated Preferred Stock
and Voting Parity Stock as a class to vote for directors as provided above, the Preferred Directors
shall cease to be qualified as directors, the term of office of all Preferred Directors then in
office shall terminate immediately and the authorized number of directors shall be reduced by the
number of Preferred Directors elected pursuant hereto. Any Preferred Director may be removed at any
time, with or without cause, and any vacancy created thereby may be filled, only by the affirmative
vote of the holders a majority of the shares of Designated Preferred Stock at the time outstanding
voting separately as a class together with the holders of shares of Voting Parity Stock, to the
extent the voting rights of such holders described above are then exercisable. If the office of any
Preferred Director becomes vacant for any reason other than removal from office as aforesaid, the
remaining Preferred Director may choose a successor who shall hold office for the unexpired term in
respect of which such vacancy occurred.




     (c) Class Voting Rights as to Particular Matters. So long as any shares of Designated
Preferred Stock are outstanding, in addition to any other vote or consent of stockholders required
by law or by the Charter, the vote or consent of the holders of at least 66 2/3% of the shares of
Designated Preferred Stock at the time outstanding, voting as a separate class, given in person or
by proxy, either in writing without a meeting or by vote at any meeting called for the purpose,
shall be necessary for effecting or validating:




     (i) Authorization of Senior Stock. Any amendment or alteration of the
Certificate of Designations for the Designated Preferred Stock or the Charter to authorize
or create or increase the authorized amount of, or any issuance of, any shares of, or any
securities convertible into or exchangeable or exercisable for shares of, any class or
series of capital stock of the Corporation ranking senior to Designated Preferred Stock
with respect to either or both the payment of dividends and/or the distribution of assets
on any liquidation, dissolution or winding up of the Corporation;




     (ii) Amendment of Designated Preferred Stock. Any amendment, alteration or
repeal of any provision of the Certificate of Designations for the Designated Preferred
Stock or the Charter (including, unless no vote on such merger or consolidation is



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required by Section 7(c)(iii) below, any amendment, alteration or repeal by means of a
merger, consolidation or otherwise) so as to adversely affect the rights, preferences,
privileges or voting powers of the Designated Preferred Stock; or



     (iii) Share Exchanges, Reclassifications, Mergers and Consolidations. Any
consummation of a binding share exchange or reclassification involving the Designated
Preferred Stock, or of a merger or consolidation of the Corporation with another
corporation or other entity, unless in each case (x) the shares of Designated Preferred
Stock remain outstanding or, in the case of any such merger or consolidation with respect
to which the Corporation is not the surviving or resulting entity, are converted into or
exchanged for preference securities of the surviving or resulting entity or its ultimate
parent, and (y) such shares remaining outstanding or such preference securities, as the
case may be, have such rights, preferences, privileges and voting powers, and limitations
and restrictions thereof, taken as a whole, as are not materially less favorable to the
holders thereof than the rights, preferences, privileges and voting powers, and limitations
and restrictions thereof, of Designated Preferred Stock immediately prior to such
consummation, taken as a whole;


provided, however, that for all purposes of this Section 7(c), any increase in the amount of the
authorized Preferred Stock, including any increase in the authorized amount of Designated Preferred
Stock necessary to satisfy preemptive or similar rights granted by the Corporation to other persons
prior to the Signing Date, or the creation and issuance, or an increase in the authorized or issued
amount, whether pursuant to preemptive or similar rights or otherwise, of any other series of
Preferred Stock, or any securities convertible into or exchangeable or exercisable for any other
series of Preferred Stock, ranking equally with and/or junior to Designated Preferred Stock with
respect to the payment of dividends (whether such dividends are cumulative or non-cumulative) and
the distribution of assets upon liquidation, dissolution or winding up of the Corporation will not
be deemed to adversely affect the rights, preferences, privileges or voting powers, and shall not
require the affirmative vote or consent of, the holders of outstanding shares of the Designated
Preferred Stock.




     (d) Changes after Provision for Redemption. No vote or consent of the holders of
Designated Preferred Stock shall be required pursuant to Section 7(c) above if, at or prior to
the
time when any such vote or consent would otherwise be required pursuant to such Section, all
outstanding shares of the Designated Preferred Stock shall have been redeemed, or shall have
been called for redemption upon proper notice and sufficient funds shall have been deposited
in
trust for such redemption, in each case pursuant to Section 5 above.



     (e) Procedures for Voting and Consents. The rules and procedures for calling and
conducting any meeting of the holders of Designated Preferred Stock (including, without
limitation, the fixing of a record date in connection therewith), the solicitation and use of
proxies
at such a meeting, the obtaining of written consents and any other aspect or matter with
regard to
such a meeting or such consents shall be governed by any rules of the Board of Directors or
any
duly authorized committee of the Board of Directors, in its discretion, may adopt from time to
time, which rules and procedures shall conform to the requirements of the Charter, the Bylaws,
and applicable law and the rules of any national securities exchange or other trading facility
on
which Designated Preferred Stock is listed or traded at the time.



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     Section 8. Record Holders. To the fullest extent permitted by applicable law, the
Corporation and the transfer agent for Designated Preferred Stock may deem and treat the record
holder of any share of Designated Preferred Stock as the true and lawful owner thereof for all
purposes, and neither the Corporation nor such transfer agent shall be affected by any notice to
the contrary.



     Section 9. Notices. All notices or communications in respect of Designated Preferred
Stock shall be sufficiently given if given in writing and delivered in person or by first class
mail, postage prepaid, or if given in such other manner as may be permitted in this Certificate of
Designations, in the Charter or Bylaws or by applicable law. Notwithstanding the foregoing, if
shares of Designated Preferred Stock are issued in book-entry form through The Depository Trust
Corporation or any similar facility, such notices may be given to the holders of Designated
Preferred Stock in any manner permitted by such facility.



     Section 10. No Preemptive Rights. No share of Designated Preferred Stock shall have
any rights of preemption whatsoever as to any securities of the Corporation, or any warrants,
rights or options issued or granted with respect thereto, regardless of how such securities, or
such warrants, rights or options, may be designated, issued or granted.



     Section 11. Replacement Certificates. The Corporation shall replace any mutilated
certificate at the holder’s expense upon surrender of that certificate to the Corporation. The
Corporation shall replace certificates that become destroyed, stolen or lost at the holder’s
expense upon delivery to the Corporation of reasonably satisfactory evidence that the certificate
has been destroyed, stolen or lost, together with any indemnity that may be reasonably required by
the Corporation.



     Section 12. Other Rights. The shares of Designated Preferred Stock shall not have any
rights, preferences, privileges or voting powers or relative, participating, optional or other
special rights, or qualifications, limitations or restrictions thereof, other than as set forth
herein or in the Charter or as provided by applicable law.



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