Exhibit 4.2


 


BYLAWS


 


OF


 


AEROCLEAN TECHNOLOGIES, INC.


 






     


     


    

 


Table of Contents


 


	Section	 	Page
	 	 	 
	ARTICLE I
	OFFICES
	Section 1.01. Offices	 	1
	ARTICLE II
	MEETINGS OF STOCKHOLDERS
	Section 2.01. Annual Meetings	 	1
	Section 2.02. Special Meetings	 	1
	Section 2.03. Notice of Meetings	 	1
	Section 2.04. Waiver of Notice	 	1
	Section 2.05. Postponements and Adjournments	 	1
	Section 2.06. Quorum	 	2
	Section 2.07. Voting	 	2
	Section 2.08. Proxies	 	2
	Section 2.09. Nominations and Proposals	 	2
	Section 2.10. Submission of Questionnaire, Representation and Agreement	 	6
	 	 	 
	ARTICLE III
	BOARD
	Section 3.01. General	 	6
	Section 3.02. Number	 	6
	Section 3.03. Resignation	 	6
	Section 3.04. Meetings	 	6
	Section 3.05. Committees of the Board	 	7
	Section 3.06. Directors’ Consent in Lieu of Meeting	 	8
	Section 3.07. Action by Means of Telephone or Similar Communications Equipment	 	8
	Section 3.08. Compensation	 	8
	 	 	 
	ARTICLE IV
	OFFICERS
	Section 4.01. Officers	 	8
	Section 4.02. Authority and Duties	 	8
	Section 4.03. Term of Office, Resignation and Removal	 	8
	Section 4.04. Vacancies	 	8
	Section 4.05. The Chairman	 	9
	Section 4.06. The Chief Executive Officer	 	9
	Section 4.07. The President	 	9
	Section 4.08. Vice Presidents	 	9
	Section 4.09. The Secretary	 	9
	Section 4.10. Assistant Secretaries	 	9
	Section 4.11. The Treasurer	 	9
	Section 4.12. Assistant Treasurers	 	10
	 	 	 
	ARTICLE V
	CHECKS, DRAFTS, NOTES AND PROXIES
	Section 5.01. Checks, Drafts and Notes	 	10
	Section 5.02. Execution of Proxies	 	10
	 	 	 
	ARTICLE VI
	SHARES AND TRANSFERS OF SHARES
	Section 6.01. Certificates Evidencing Shares	 	10
	Section 6.02. Stock Ledger	 	10
	Section 6.03. Transfers of Shares	 	10
	Section 6.04. Addresses of Stockholders	 	10



 






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	Section 6.05. Lost, Destroyed and Mutilated Certificates	 	11
	Section 6.06. Regulations	 	11
	Section 6.07. Fixing Date for Determination of Stockholders of Record	 	11
	 
	ARTICLE VII
	SEAL
	Section 7.01. Seal	 	11
	 
	ARTICLE VIII
	FISCAL YEAR
	Section 8.01. Fiscal Year	 	11
	 
	ARTICLE IX
	FORUM AND VENUE
	Section 9.01. Forum and Venue	 	11
	 
	ARTICLE X
	AMENDMENTS
	Section 10.01. Amendments	 	12
	 
	ARTICLE XI
	CERTAIN DEFINITIONS
	Section 11.01. Certain Definitions	 	12


 






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BYLAWS


 


OF


 


AEROCLEAN TECHNOLOGIES, INC.


 


ARTICLE I

OFFICES


 


Section 1.01. Offices. In addition to
its registered office in the State of Delaware, AeroClean Technologies, Inc. (the “Corporation”) may also have
an office or offices at any other place or places within or without the State of Delaware as the Board of Directors of the Corporation
(the “Board”) may from time to time determine or the business of the Corporation may from time to time require.


 


ARTICLE II

MEETINGS OF STOCKHOLDERS


 


Section 2.01. Annual Meetings. The annual
meeting of stockholders of the Corporation for the election of directors of the Corporation, and for the transaction of such other business
as may properly come before such meeting, shall be held at such place, date and time as shall be fixed by the Board pursuant to the Certificate
of Incorporation of the Corporation (the “Certificate of Incorporation”) and designated in the notice or waiver of
notice of such annual meeting.


 


Section 2.02. Special Meetings. Special
meetings of stockholders for any purpose or purposes may be called by the Board or the Chairman of the Board of the Corporation (the “Chairman”)
or the Chief Executive Officer of the Corporation (the “Chief Executive Officer”), to be held at such place, date and
time as shall be designated in the notice or waiver of notice thereof.


 


Section 2.03. Notice of Meetings. Except
as otherwise provided by law, written notice of each annual or special meeting of stockholders stating the place, date and time of such
meeting and, in the case of a special meeting, the purpose or purposes for which such meeting is to be held, shall be given personally,
by internationally recognized overnight courier service, or by first-class mail (airmail in the case of international communications)
to each recordholder of shares entitled to vote thereat, no less than ten (10) nor more than sixty (60) days before the date of such
meeting. If mailed, such notice shall be deemed to be given when deposited in the United States mail, postage prepaid, directed to the
stockholder at such stockholder’s address as it appears in the records of the Corporation. If sent by internationally recognized
courier service, such notice shall be deemed to be given when deposited with such courier service, carriage and delivery prepaid, directed
to the stockholder at such stockholder’s address as it appears in the records of the Corporation. If, prior to the time of mailing,
the Secretary shall have received from any stockholder a written request that notices intended for such stockholder are to be mailed to
some address other than the address that appears in the records of the Corporation, notices intended for such stockholder shall be mailed
to the address designated in such request.


 


Section 2.04. Waiver of Notice. Notice
of any annual or special meeting of stockholders need not be given to any stockholder who files a written waiver of notice with the Secretary,
signed by the person entitled to notice, whether before or after such meeting. Neither the business to be transacted at, nor the purpose
of, any meeting of stockholders need be specified in any written waiver of notice thereof. Attendance of a stockholder at a meeting, in
person or by proxy, shall constitute a waiver of notice of such meeting, except when such stockholder attends a meeting for the express
purpose of objecting, at the beginning of the meeting, to the transaction of any business on the grounds that the notice of such meeting
was inadequate or improperly given.


 


Section 2.05. Postponements and Adjournments.
Whenever an annual or special meeting of stockholders is postponed to another date, time or place by the Board, notice need not be given
of the postponed meeting if a public announcement of such postponement is made prior to the original date of the meeting. Whenever an
annual or special meeting of stockholders is adjourned to another date, time or place, notice need not be given of the adjourned meeting
if the date, time and place thereof are announced at the meeting at which the adjournment is taken. If the postponement or adjournment
is for more than thirty (30) days, or if after the postponement or adjournment a new record date is fixed for the postponed or adjourned
meeting, a notice of the postponed or adjourned meeting shall be given to each stockholder entitled to vote thereat. At any postponed
or adjourned meeting, any business may be transacted that might have been transacted at the original meeting.


 






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Section 2.06. Quorum. Except as otherwise
provided by law, the Certificate of Incorporation or these Bylaws, the recordholders of a majority of the shares entitled to vote thereat,
present in person or by proxy, shall constitute a quorum for the transaction of business at all meetings of stockholders, whether annual
or special. If, however, such quorum shall not be present in person or by proxy at any meeting of stockholders, the chairman of the meeting
or the stockholders present and entitled to vote thereat may, by the vote of the recordholders of a majority of the shares held by such
present stockholders, adjourn the meeting from time to time in accordance with Section 2.05 hereof until a quorum shall be present
in person or by proxy.


 


Section 2.07. Voting. Except as otherwise
provided by law, the Certificate of Incorporation or these Bylaws, each stockholder entitled to vote at any meeting of stockholders shall
be entitled to one vote for each share of stock held by such stockholder that has voting power upon the matter in question, and any question
brought before any such meeting shall be determined by the affirmative vote of the recordholders of a majority in voting power of the
shares present in person or by proxy at the meeting and entitled to vote on such question.


 


Section 2.08. Proxies. Each stockholder
entitled to vote at a meeting of stockholders may authorize another person or persons to act for such stockholder by proxy. Such proxy
shall be filed with the Secretary before such meeting of stockholders, at such time as the Board may require. No proxy shall be voted
or acted upon more than three (3) years from its date, unless the proxy provides for a longer period.


 


Section 2.09. Nominations and Proposals.
(a) At any annual meeting of the stockholders, only such nominations of persons for election to the Board and such other business
shall be conducted as shall have been properly brought before the meeting.


 


(b) 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.


 


(c) To be properly brought before an annual
meeting of stockholders, nominations or such other business must be: (i) specified in the notice of meeting (or any supplement thereto)
given by or at the direction of the Board or any committee thereof, (ii) otherwise properly brought before the meeting by or at the
direction of the Board or any committee thereof, or (iii) otherwise properly brought before the meeting by a stockholder who is a
stockholder of record of the Corporation at the time notice of such meeting is given, who is entitled to vote at the meeting and who complies
with the notice procedures set forth in this Section 2.09. In addition, any proposal of business (other than the nomination of persons
for election to the Board) must be a proper matter for stockholder action.


 


(d) For business (including, but not limited
to, director nominations) to be properly brought before an annual meeting by a stockholder, the stockholder or stockholders of record
intending to propose the business (the “Proposing Stockholder”) must have given timely and proper notice thereof, in
full compliance with this Section 2.09, in writing to the Secretary.


 


(e) To be timely, a Proposing Stockholder’s
notice of nominations or other business to be brought before an annual meeting must be delivered to or mailed and received by the Secretary
at the principal executive offices of the Corporation:


 


(i) With regard to notice of nominations
or other business proposed to be brought before an annual meeting of stockholders to be held on a day that is not more than thirty (30)
days in advance of the anniversary of the previous year’s annual meeting nor later than seventy (70) days after the anniversary
of the previous year’s annual meeting, not later than the close of business on the ninetieth (90th) day, nor earlier than the close
of business on the one hundred and twentieth (120th) day, in advance of the anniversary of the previous year’s annual meeting;


 


(ii) With regard to notice of nominations
or other business proposed to be brought before any other annual meeting of stockholders, by the close of business on the tenth (10th)
day following the public announcement of the date of such meeting.


 






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In no event shall the public announcement
of an adjournment or postponement of a meeting of stockholders commence a new notice time period (or extend any notice time period).


 


(f) To be proper, a Proposing Stockholder’s
notice must include:


 


(i) as to each person whom the
stockholder proposes to nominate for election as a director (A) all information relating to such person that is required to be disclosed
in solicitations of proxies for election of directors in an election contest, or is otherwise required, in each case pursuant to and in
accordance with Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and
the rules and regulations promulgated thereunder, (B) such person’s written consent to being named in the proxy statement
as a nominee and to serve as a director if elected and (C) the information, written representation and agreement required to be delivered
pursuant to Section 2.10;


 


(ii) as to any other business
that the stockholder proposes to bring before the meeting, a brief description of the business desired to be brought before the meeting,
the text of the proposal or business (including the text of any resolutions proposed for consideration and, in the event that such business
includes a proposal to amend these Bylaws, the language of the proposed amendment), 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;
and


 


(iii) as to the stockholder giving
the notice and the beneficial owner, if any, on whose behalf the nomination or proposal is made:


 


(A) the name and address of such stockholder, as they
appear on the Corporation’s books, and of (1) such beneficial owner (if any) and (2) each Associated Person (as defined
below) of each such stockholder and such beneficial owner;


 


(B) the class or series and number of shares of capital
stock of the Corporation that are, directly or indirectly, owned beneficially and of record by such stockholder and/or such beneficial
owner, or by any Associated Person thereof;


 


(C) a description of any agreement, arrangement or understanding
with respect to the nomination or proposal between or among such stockholder and/or such beneficial owner, any of their respective affiliates
or associates, and any others acting in concert with any of the foregoing;


 


(D) a description of any option, warrant, convertible
security, stock appreciation right or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a
price related to any class or series of shares of the Corporation or with a value derived in whole or in part from the value of any class
or series of shares of the Corporation, whether or not such instrument or right shall be subject to settlement in the underlying class
or series of capital stock of the Corporation or otherwise, and any other direct or indirect opportunity to profit or share in any profit
derived from any increase or decrease in the value of shares of the Corporation (each of the foregoing, a “Derivative Instrument”),
directly or indirectly owned or held beneficially by such stockholder, such beneficial owner and/or any Associated Person thereof;


 


(E) a description of any proxy, contract, arrangement,
understanding or relationship pursuant to which such stockholder and/or such beneficial owner, and any Associated Person thereof, has
a right to vote any shares of any security of the Corporation;


 






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(F) a description of any short interest in any security
of the Corporation held by such stockholder and/or such beneficial owner and any Associated Person thereof (for purposes of this Section 2.09(f),
a person shall be deemed to have a short interest in a security if such person directly or indirectly, through any contract, arrangement,
understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value
of the subject security);


 


(G) a description of any rights to dividends on the shares
of the Corporation owned beneficially by such stockholder and/or such beneficial owner, and any Associated Person thereof, that are separated
or separable from the underlying shares of the Corporation;


 


(H) a description of any proportionate interest in shares
of the Corporation or Derivative Instruments held, directly or indirectly, by a general or limited partnership or limited liability company
in which such stockholder and/or such beneficial owner, and any Associated Person thereof, is a general partner or manager or, directly
or indirectly, beneficially owns an interest in such general partner or manager;


 


(I) a description of any performance-related fees (other
than an asset-based fee) that such stockholder and/or such beneficial owner, and any Associated Person thereof, is entitled to based on
any increase or decrease in the value of shares of the Corporation or Derivative Instruments, if any, as of the date of such notice;


 


(J) 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;


 


(K) a representation as to whether the stockholder or
the beneficial owner, if any, is or will be part of a group that intends (1) 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 approve or adopt the proposal or elect
the nominee and/or (2) otherwise to solicit proxies from stockholders in support of such proposal or nomination; and


 


(L) any other information relating to such stockholder
and beneficial owner, if any, required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations
of proxies for, as applicable, the proposal and/or for the election of directors in an election contest pursuant to and in accordance
with Section 14(a) of the Exchange Act and the rules and regulations promulgated thereunder.


 


With regard to the information required
by items (B)-(I) of this Section 2.09(f)(iii), such information shall include, without limitation, any such information with
regard to any members of such stockholder’s immediate family sharing the same household. The information required by this Section 2.09(f) shall
be supplemented by such stockholder and beneficial owner, if any, not later than ten (10) days after the record date for the meeting
to disclose such information as of the record date.


 


For the purposes of this Section 2.09(f),
an “Associated Person” of any stockholder or beneficial owner means (1) any affiliate or person acting in concert
with such stockholder or beneficial owner in relation to the nomination or proposal and (2) each director, officer, employee, general
partner or manager of such stockholder or beneficial owner or any such affiliate or person with which such stockholder or beneficial owner
is acting in concert in relation to the nomination or proposal.


 






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(g) The foregoing notice requirements of Section 2.09(f) shall
be deemed satisfied by a stockholder with respect to business other than a nomination if the stockholder has notified the Corporation
of his, her or its intention to present a proposal at an annual meeting in compliance with the applicable rules and regulations promulgated
under Section 14(a) of the Exchange Act and such stockholder’s proposal has been included in a proxy statement that has
been prepared by the Corporation to solicit proxies for such annual meeting.


 


(h) In addition to the information required
by the provisions of this Section 2.09 and the information, written representation and agreement required to be delivered pursuant
to Section 2.10, the Corporation may require any proposed nominee 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.


 


(i) Notwithstanding anything in these Bylaws
to the contrary: (i) no nominations shall be made and no business shall be conducted at any meeting of stockholders except in accordance
with the procedures set forth in this Section 2.09; and (ii) unless otherwise required by law, if the Proposing Stockholder
does not provide the information required under this Section 2.09 to the Corporation (or any such information provided should be
found to be materially inaccurate) or the Proposing Stockholder (or a qualified representative of the Proposing Stockholder) does not
appear at the meeting to present the proposed business or nominations, such business or nominations shall not be considered, notwithstanding
that proxies in respect of such business or nominations may have been received by the Corporation. For purposes of this Section 2.09,
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.


 


(j) Except as otherwise provided by law, the
chairman of any meeting of stockholders shall have the power and duty (i) to determine whether a nomination or any business proposed
to be brought before the meeting was made or proposed, as the case may be, in accordance with the procedures set forth in this Section 2.09
and (ii) if any proposed nomination or business was not made or proposed in compliance with this Section 2.09, to declare that
such nomination shall be disregarded or that such proposed business shall not be transacted.


 


(k) Notwithstanding the foregoing provisions
of this Section 2.09, a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules and
regulations promulgated thereunder with respect to the matters set forth in this Section 2.09; 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 2.09,
and compliance with the provisions of this Section 2.09 shall be the exclusive means for a stockholder to make nominations or submit
other business (other than matters brought properly under and in compliance with Rule 14a-8 of the Exchange Act, as may be amended
from time to time). Nothing in this Section 2.09 shall be deemed to affect any rights (i) of stockholders to request inclusion
of proposals in the Corporation’s proxy statement pursuant to applicable rules and regulations promulgated under the Exchange
Act or (ii) of the holders of any series of preferred stock to elect directors as provided for or fixed pursuant to any applicable
provision of the Certificate of Incorporation.


 






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Section 2.10. Submission of Questionnaire,
Representation and Agreement. To be eligible to be a nominee for election or reelection as a director of the Corporation, a person
must deliver (in accordance with the time periods prescribed for delivery of notice under the applicable sections of Section 2.09
above) to the Secretary at the principal executive offices of the Corporation a written and signed questionnaire (in the form customarily
used by the Corporation for its directors) with respect to the background and qualification of such person and the background of any other
person or entity on whose behalf the nomination is being made (which questionnaire shall be provided by the Secretary upon written request)
and a written representation and agreement (in the form provided by the Secretary upon written request) that such person:


 


(a) is not and will not become a party to (i) any
agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person,
if elected as a director of the Corporation, will act or vote on any issue or question (a “Voting Commitment”), except
as has been disclosed to the Board, or (ii) any Voting Commitment that could limit or interfere with such persons’ ability
to comply, if elected as a director of the Corporation, with such person’s fiduciary duties under applicable law;


 


(b) is not and will not become a party to any
agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation,
reimbursement or indemnification in connection with service or action as a director of the Corporation, except as has been disclosed to
the Board;


 


(c) is not and will not become a party to any
agreement, arrangement or understanding with any person or entity with respect to any direct or indirect compensation, reimbursement or
indemnification in connection with service or action as a director of any public company (other than the Corporation), except as has been
disclosed to the Board;


 


(d) in such person’s individual capacity
and on behalf of any person or entity on whose behalf the nomination is being made, would be in compliance, if elected as a director of
the Corporation, and will comply with all applicable corporate governance, conflict of interest, confidentiality and stock ownership and
trading policies and guidelines of the Corporation;


 


(e) is not and will not serve as a director
on the boards of more than two (2) other public companies, unless the Board has determined in advance that such simultaneous service
will not impair his or her ability to effectively serve on the Board; and


 


(f) will promptly tender his or her resignation
to the Board in the event that, at any time he or she is serving as a director of the Corporation, (i) any of the above representations
are found by the Board to have been false at the time such representation was made or (ii) any of the above representations are found
by the Board to have become false thereafter.


 


ARTICLE III

BOARD


 


Section 3.01. General. The business and
affairs of the Corporation shall be managed by the Board, which may exercise all such powers of the Corporation and do all such lawful
acts and things as are not by law, the Certificate of Incorporation or these Bylaws directed or required to be exercised or done by stockholders.
Directors need not be stockholders of the Corporation.


 


Section 3.02. Number. The total number
of directors shall be not less than three (3) nor more than nine (9), as such shall be fixed within these limits from time to time
by the Board.


 


Section 3.03. Resignation. Any director
may resign at any time by delivering his written resignation to the Board, the Chairman or the Secretary. Such resignation shall take
effect at the time specified in such notice or, if the time be not specified, upon receipt thereof by the Board, the Chairman or the Secretary,
as the case may be.


 


Section 3.04. Meetings. (a) Annual
Meetings. As soon as practicable after each annual election of directors by the stockholders, the Board shall meet for the purpose
of organization and the transaction of other business, unless it shall have transacted all such business by written consent pursuant to
Section 3.06 hereof.


 


(b) Other Meetings. Other meetings of
the Board shall be held at such times as the Chairman, the Secretary or a majority of the Board shall from time to time determine.


 






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(c) Notice of Meetings. The Secretary
shall give written notice to each director of each meeting of the Board, which notice shall state the place, date, time and purpose of
such meeting. Notice of each such meeting shall be given to each director, if by mail, addressed to him or her at his or her residence
or usual place of business, at least three (3) days before the day on which such meeting is to be held, or shall be sent to him or
her at such place by telecopy, facsimile, electronic mail or other form of recorded communication, or be delivered personally or by an
internationally recognized courier service or by telephone, not later than the day before the day on which such meeting is to be held.
A written waiver of notice, signed by the director entitled to notice, whether before or after the time of the meeting referred to in
such waiver, shall be deemed equivalent to notice. Neither the business to be transacted at, nor the purpose of, any meeting of the Board
need be specified in any written waiver of notice thereof. Attendance of a director at a meeting of the Board shall constitute a waiver
of notice of such meeting, except as provided by law.


 


(d) Place of Meetings. The Board may
hold its meetings at such place or places within or without the State of Delaware as the Board or the Chairman may from time to time determine,
or as shall be designated in the respective notices or waivers of notice of such meetings.


 


(e) Quorum and Manner of Acting. A majority
of the total number of directors then in office shall be present in person at any meeting of the Board in order to constitute a quorum
for the transaction of business at such meeting, and the vote of a majority of those directors present at any such meeting at which a
quorum is present shall be necessary for the passage of any resolution or act of the Board, except as otherwise expressly required by
law, the Certificate of Incorporation or these Bylaws. In the absence of a quorum for any such meeting, a majority of the directors present
thereat may adjourn such meeting from time to time until a quorum shall be present.


 


(f) Organization. At each meeting of
the Board, one of the following shall act as chairman of the meeting and preside, in the following order of precedence:


 


(1) the Chairman;


 


(2) the Chief Executive Officer;


 


(3) any director chosen by a majority
of the directors present.


 


The Secretary or, in the case of the Secretary’s
absence, any person (who shall be an Assistant Secretary (as defined below), if an Assistant Secretary is present) whom the chairman of
the meeting shall appoint shall act as secretary of such meeting and keep the minutes thereof.


 


Section 3.05. Committees of the Board.
The Board may, by resolution passed by a majority of the whole Board, designate one or more committees, each committee to consist of one
or more directors. The Board may designate one or more directors as alternate members of any committee, who may replace any absent or
disqualified member at any meeting of such committee. In the absence or disqualification of a member of a committee, the member or members
thereof present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously
appoint another director to act at the meeting in the place of any such absent or disqualified member; provided, however,
that any director so appointed must be found by such committee to meet the qualifications, if any, for service on such committee, including
any requirement of independence. Any committee of the Board, to the extent provided in the resolution of the Board designating such committee,
shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Corporation
and may authorize the seal of the Corporation to be affixed to all papers that may require it; provided, however, that no
such committee shall have such power or authority in reference to amending the Certificate of Incorporation (except that such a committee
may, to the extent authorized in the resolution or resolutions providing for the issuance of shares of stock adopted by the Board, as
provided in Section 151(a) of the General Corporation Law of the State of Delaware (the “General Corporation Law”),
fix the designations and any of the preferences or rights of such shares relating to dividends, redemption, dissolution, any distribution
of assets of the Corporation or the conversion into, or the exchange of such shares for, shares of any other class or classes of stock
of the Corporation or fix the number of shares of any series of stock or authorize the increase or decrease of the shares of any series),
adopting an agreement of merger or consolidation under Sections 251, 252, 254, 255, 256, 257, 258, 263 or 264 of the General Corporation
Law, recommending to the stockholders the sale, lease or exchange of all or substantially all the Corporation’s property and assets,
recommending to the stockholders a dissolution of the Corporation or the revocation of a dissolution or amending these Bylaws; provided
further, however, that, unless expressly so provided in the resolution of the Board designating such committee, no such committee
shall have the power or authority to declare a dividend, to authorize the issuance of stock or to adopt a certificate of ownership and
merger pursuant to Section 253 of the General Corporation Law. Each committee of the Board shall keep regular minutes of its proceedings
and report the same to the Board when so requested by the Board.


 






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Section 3.06. Directors’ Consent in
Lieu of Meeting. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken
without a meeting, without prior notice and without a vote, if a consent in writing or by electronic transmission, setting forth the action
so taken, shall be signed by all the members of the Board or such committee and such consent or electronic transmission is filed with
the minutes of the proceedings of the Board or such committee. Such filing shall be in paper form if the minutes are maintained in paper
form and shall be in electronic form if the minutes are maintained in electronic form.


 


Section 3.07. Action by Means of Telephone
or Similar Communications Equipment. Any one or more members of the Board, or of any committee thereof, may participate in a meeting
of the Board or such committee 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 by such means shall constitute presence in person at such meeting.


 


Section 3.08. Compensation. Unless otherwise
restricted by the Certificate of Incorporation, the Board may determine the compensation of directors. In addition, as determined by the
Board, directors may be reimbursed by the Corporation for their expenses, if any, in the performance of their duties as directors. No
such compensation or reimbursement shall preclude any director from serving the Corporation in any other capacity and receiving compensation
therefor.


 


ARTICLE IV

OFFICERS


 


Section 4.01. Officers. The officers
of the Corporation shall be chosen by the Board and may include the Chief Executive Officer, a president (the “President”),
a chief financial officer (the “Chief Financial Officer”), a secretary (the “Secretary”) and a treasurer (the
 “Treasurer”). Officers of the Corporation may include one or more Vice Presidents, one or more Assistant Secretaries, one
or more Assistant Treasurers (each as defined below) and such other officers as the Board may establish. Any two or more offices may be
held by the same person.


 


Section 4.02. Authority and Duties. All
officers shall have such authority and perform such duties in the management of the Corporation as may be provided in these Bylaws or,
to the extent not so provided, by resolution of the Board.


 


Section 4.03. Term of Office, Resignation
and Removal. (a) Each officer shall be appointed by the Board and shall hold office for such term as may be determined by the
Board. Each officer shall hold office until such officer’s successor has been appointed and qualified or such officer’s earlier
death or resignation or removal in the manner hereinafter provided. The Board may require any officer to give security for the faithful
performance of such officer’s duties.


 


(b) Any officer may resign at any time by giving
written notice to the Board, the Chairman, the Chief Executive Officer or the Secretary. Such resignation shall take effect at the time
specified in such notice or, if the time be not specified, upon receipt thereof by the Board, the Chairman, the Chief Executive Officer
or the Secretary, as the case may be.


 


(c) All officers and agents appointed by the
Board shall be subject to removal, with or without cause, at any time by the Board.


 


Section 4.04. Vacancies. Any vacancy
occurring in any office of the Corporation, for any reason, shall be filled by action of the Board. Unless earlier removed pursuant to
Section 4.03 hereof, any officer appointed by the Board to fill any such vacancy shall serve only until such time as the unexpired
term of such officer’s predecessor expires unless reappointed by the Board.


 






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Section 4.05. The Chairman. The Chairman
shall have the power to call special meetings of stockholders, to call special meetings of the Board and, if present, to preside at all
meetings of stockholders and all meetings of the Board. The Chairman shall perform all duties incident to the office of Chairman of the
Board and all such other duties as may from time to time be assigned to the Chairman by the Board or these Bylaws.


 


Section 4.06. The Chief Executive Officer.
The Chief Executive Officer shall have general and active management and control of the business and affairs of the Corporation, subject
to the control of the Board, and shall see that all orders and resolutions of the Board are carried into effect. The Chief Executive Officer
shall perform all duties incident to the office of the Chief Executive Officer and all such other duties as may from time to time be assigned
to the Chief Executive Officer by the Board or these Bylaws.


 


Section 4.07. The President. The President,
subject to the authority of the Chief Executive Officer, shall have primary responsibility for, and authority with respect to, the management
of the day-to-day business affairs of the Corporation, to the extent prescribed by the Chief Executive Officer. The President shall perform
all duties incident to the office of President and all such other duties as may from time to time be assigned to the President by the
Board, the Chief Executive Officer or these Bylaws.


 


Section 4.08. Vice Presidents. Vice Presidents
of the Corporation (“Vice Presidents”), if any, in order of their seniority or in any other order determined by the
Board, shall generally assist the President and perform such other duties as the Board, the Chief Executive Officer or the President shall
prescribe and, in the absence or disability of the President, shall perform the duties and exercise the powers of the President.


 


Section 4.09. The Secretary. The Secretary
of the Corporation shall, to the extent practicable, attend all meetings of the Board and all meetings of stockholders and shall record
all votes and the minutes of all proceedings in a book to be kept for that purpose and shall perform the same duties for any committee
of the Board when so requested by such committee. The Secretary shall give or cause to be given notice of all meetings of stockholders
and of the Board, shall perform such other duties as may be prescribed by the Board, the Chairman and the Chief Executive Officer and
shall act under the supervision of the Chairman. The Secretary shall keep in safe custody the seal of the Corporation and affix the same
to any instrument that requires that the seal be affixed to it and which shall have been duly authorized for signature in the name of
the Corporation, and when so affixed, the seal shall be attested by the Secretary’s signature or by the signature of the Treasurer
of the Corporation or an Assistant Secretary or Assistant Treasurer of the Corporation. The Secretary shall keep in safe custody the certificate
books and stockholder records and such other books and records of the Corporation as the Board, the Chairman or the Chief Executive Officer
may direct and shall perform all other duties incident to the office of Secretary and such other duties as from time to time may be assigned
to the Secretary by the Board, the Chairman or the Chief Executive Officer.


 


Section 4.10. Assistant Secretaries.
Assistant Secretaries of the Corporation (“Assistant Secretaries”), if any, in order of their seniority or in any other
order determined by the Board, shall generally assist the Secretary and perform such other duties as the Board or the Secretary shall
prescribe and, in the absence or disability of the Secretary, shall perform the duties and exercise the powers of the Secretary.


 


Section 4.11. Chief Financial Officer.
The Chief Financial Officer shall be the principal financial officer of the Corporation and shall have such powers and perform such duties
as may be assigned by the Board, the Chairman or the Chief Executive Officer.


 


Section 4.12. The Treasurer. The Treasurer
shall have the care and custody of all the funds of the Corporation and shall deposit such funds in such banks or other depositories as
the Board, or any officer or officers, or any officer and agent jointly, duly authorized by the Board, shall, from time to time, direct
or approve. The Treasurer shall disburse the funds of the Corporation under the direction of the Board and the Chief Executive Officer.
The Treasurer shall keep a full and accurate account of all moneys received and paid on account of the Corporation and shall render a
statement of the Treasurer’s accounts whenever the Board, the Chairman or the Chief Executive Officer shall so request. The Treasurer
shall perform all other necessary actions and duties in connection with the administration of the financial affairs of the Corporation
and shall generally perform all the duties usually appertaining to the office of treasurer of a corporation. When required by the Board,
the Treasurer shall give bonds for the faithful discharge of the Treasurer’s duties in such sums and with such sureties as the Board
shall approve.


 






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Section 4.12. Assistant Treasurers. Assistant
Treasurers of the Corporation (“Assistant Treasurers”), if any, in order of their seniority or in any other order determined
by the Board, shall generally assist the Treasurer and perform such other duties as the Board or the Treasurer shall prescribe and, in
the absence or disability of the Treasurer, shall perform the duties and exercise the powers of the Treasurer.


 


ARTICLE V

CHECKS, DRAFTS, NOTES AND PROXIES


 


Section 5.01. Checks, Drafts and Notes.
All checks, drafts and other orders for the payment of money, notes and other evidences of indebtedness issued in the name of the Corporation
shall be signed by such officer or officers, agent or agents of the Corporation and in such manner as shall be determined, from time to
time, by resolution of the Board.


 


Section 5.02. Execution of Proxies. The
Chairman, the Chief Executive Officer, the President or any Vice President may authorize, from time to time, the execution and issuance
of proxies to vote shares of stock or other securities of other corporations held of record by the Corporation and the execution of consents
to action taken or to be taken by any such corporation. All such proxies and consents, unless otherwise authorized by the Board, shall
be signed in the name of the Corporation by the Chairman, the Chief Executive Officer, the President or any Vice President.


 


ARTICLE VI

SHARES AND TRANSFERS OF SHARES


 


Section 6.01. Certificates Evidencing Shares.
Shares may be evidenced by certificates in such form or forms as shall be approved by the Board. Certificates shall be issued in consecutive
order and shall be numbered in the order of their issue and shall be signed by the Chairman, the President or any Vice President and by
the Secretary, any Assistant Secretary, the Treasurer or any Assistant Treasurer. If such a certificate is manually signed by one such
officer, any other signature on the certificate may be a facsimile. In the event any such officer who has signed or whose facsimile signature
has been placed upon a certificate shall have ceased to hold such office or to be employed by the Corporation before such certificate
is issued, such certificate may be issued by the Corporation with the same effect as if such officer had held such office on the date
of issue.


 


Section 6.02. Stock Ledger. A stock ledger
in one or more counterparts shall be kept by the Secretary, in which shall be recorded the name and address of each person, corporation
or other entity owning the shares evidenced by each certificate evidencing shares issued by the Corporation, the number of shares evidenced
by each such certificate, the date of issuance thereof and, in the case of cancellation, the date of cancellation. Except as otherwise
expressly required by law, the person in whose name shares stand on the stock ledger of the Corporation shall be deemed the owner and
recordholder of such shares for all purposes.


 


Section 6.03. Transfers of Shares. Registration
of transfers of shares shall be made only in the stock ledger of the Corporation upon request of the registered holder of such shares,
or of his attorney thereunto authorized by power of attorney duly executed and filed with the Secretary, and upon the surrender of the
certificate or certificates evidencing such shares properly endorsed or accompanied by a stock power duly executed, together with such
proof of the authenticity of signatures as the Corporation may reasonably require.


 


Section 6.04. Addresses of Stockholders.
Each stockholder shall designate to the Secretary an address at which notices of meetings and all other corporate notices may be served
or mailed to such stockholder, and, if any stockholder shall fail to so designate such an address, corporate notices may be served upon
such stockholder by mail directed to the mailing address, if any, as the same appears in the stock ledger of the Corporation or at the
last known mailing address of such stockholder.


 






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Section 6.05. Lost, Destroyed and Mutilated
Certificates. Each recordholder of shares shall promptly notify the Corporation of any loss, destruction or mutilation of any certificate
or certificates evidencing any share or shares of which such recordholder is the recordholder. The Board may, in its discretion, cause
the Corporation to issue a new certificate in place of any certificate theretofore issued by it and alleged to have been mutilated, lost,
stolen or destroyed, upon the surrender of the mutilated certificate or, in the case of loss, theft or destruction of the certificate,
upon satisfactory proof of such loss, theft or destruction, and the Board may, in its discretion, require the recordholder of the shares
evidenced by the lost, stolen or destroyed certificate or such recordholder’s legal representative to give the Corporation a bond
sufficient to indemnify the Corporation against any claim made against it on account of the alleged loss, theft or destruction of any
such certificate or the issuance of such new certificate.


 


Section 6.06. Regulations. The Board
may make such other rules and regulations as it may deem expedient, not inconsistent with these Bylaws, concerning the issue, transfer
and registration of certificates evidencing shares.


 


Section 6.07. Fixing Date for Determination
of Stockholders of Record. In order that the Corporation may determine the stockholders entitled to notice of or to vote at any meeting
of stockholders or any adjournment thereof, or to express consent to, or to dissent from, corporate action in writing without a meeting,
or entitled to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in
respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board may fix, in advance,
a record date, which shall not be more than sixty (60) nor less than ten (10) days before the date of such meeting, nor more than
sixty (60) days prior to any other such action. A determination of the stockholders entitled to notice of or to vote at a meeting of stockholders
shall apply to any postponement or adjournment of such meeting; provided, however, that the Board may fix a new record date
for the postponed or adjourned meeting.


 


ARTICLE VII

SEAL


 


Section 7.01. Seal. The Board may approve
and adopt a corporate seal, which shall be in the form of a circle and shall bear the full name of the Corporation, the year of its incorporation
and the words “Corporate Seal Delaware”.


 


ARTICLE VIII

FISCAL YEAR


 


Section 8.01. Fiscal Year. The fiscal
year of the Corporation shall end on the thirty-first day of December of each year unless changed by resolution of the Board.


 


ARTICLE IX

FORUM AND VENUE


 


Section 9.01.
Forum and Venue. Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery
of the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware)
shall be the sole and exclusive forum for: (i) any derivative action or proceeding brought on behalf of the Corporation; (ii) any
action asserting a claim for breach of a fiduciary duty owed by any director, officer, employee or agent of the Corporation to the Corporation
or the Corporation's stockholders; or (iii) any action asserting a claim arising pursuant to any provision of the Delaware General
Corporation Law, the certificate of incorporation or the bylaws of the Corporation; or (iv) any action asserting a claim governed
by the internal affairs doctrine; in each case subject to said court having personal jurisdiction over the indispensable parties named
as defendants therein. If any action the subject matter of which is within the scope of this Section 9.01 is filed in a court other
than a court located within the State of Delaware (a “Foreign Action”) in the name of any stockholder, such stockholder
shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located within the State of Delaware
in connection with any action brought in any such court to enforce this Section 9.01 (an “Enforcement Action”);
and (y) having service of process made upon such stockholder in any such Enforcement Action by service upon such stockholder’s
counsel in the Foreign Action as agent for such stockholder. Any person or entity purchasing or otherwise acquiring any interest in shares
of capital stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Section 9.01.


 






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ARTICLE X

AMENDMENTS


 


Section 10.01. Amendments. No Bylaw (including
these Bylaws) may be altered, amended or repealed except by the requisite vote of the Board or the stockholders pursuant to the Certificate
of Incorporation.


 


ARTICLE XI

CERTAIN DEFINITIONS


 


Section 11.01. Certain Definitions. As
used in these Bylaws, the following terms shall have the meanings indicated in this Section 11.01:


 


(a) “Public announcement”
shall mean an announcement: (i) made by a press release posted on the Corporation’s website or reported by the Dow Jones News
Service, Associated Press or other national news service, or (ii) in a document publicly filed by the Corporation with the Securities
and Exchange Commission;


 


(b) “Business day” shall
mean any day other than a Saturday, Sunday or a day on which banking institutions in New York, New York are generally authorized or obligated
by law or executive order to close.


 


(c) “Close of business” on
any given date shall mean 5:00 p.m., New York City time on such date, or, if such date is not a business day, 5:00 p.m. New York
City time on the next succeeding business day.


 






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