# EDGAR Filing Document

**Accession Number:** 0001393066
**File Stem:** 0001193125-23-056328
**Filing Date:** 2023-3
**Character Count:** 83556
**Document Hash:** 18042f7bb3bb462b87c1a35916867786
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-056328.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001193125-23-056328

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230224

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Termination of a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Resolute Forest Products Inc.
- **CENTRAL INDEX KEY:** 0001393066
- **STANDARD INDUSTRIAL CLASSIFICATION:** PAPER MILLS [2621]
- **IRS NUMBER:** 980526415
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33776
- **FILM NUMBER:** 23693586

**BUSINESS ADDRESS:**
- **STREET 1:** 1010 DE LA GAUCHETIERE STREET WEST
- **STREET 2:** SUITE 400
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H3B 2N2
- **BUSINESS PHONE:** 514-875-2515

**MAIL ADDRESS:**
- **STREET 1:** 1010 DE LA GAUCHETIERE STREET WEST
- **STREET 2:** SUITE 400
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H3B 2N2

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AbitibiBowater Inc.
- **DATE OF NAME CHANGE:** 20070313

?xml version="1.0" encoding="utf-8" ? 8-K

------

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, D.C. 20549

------

### FORM 8-K

------

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d)

#### of the Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): February 24, 2023

------

## RESOLUTE FOREST PRODUCTS INC.

#### (Exact name of registrant as specified in its charter)

------

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-33776** | **98-0526415** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

---

| |
|:---|
| **Resolute Forest Products Inc.** |
| **1010 De La Gauchetière Street West, Suite 400** |
| **Montreal, Quebec, Canada H3B 2N2** |
| **(Address and zip code of principal executive offices)** |

---

#### Registrant's telephone number, including area code: (514) 875-2160

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of class** | **Trading**<br> **Symbol** | **Name of exchange**<br> **on which registered** |
| Common Stock, par value $0.001 per share | RFP | New York Stock Exchange |
|  | Indicate by check | Toronto Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

#### Introduction
As previously disclosed, on July 5, 2022, Resolute Forest Products Inc. (the "Company"), entered into an Agreement and Plan of Merger (the "Merger Agreement") with Domtar Corporation, a Delaware corporation ("Parent" or "Domtar"), Terra Acquisition Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Domtar ("Merger Sub"), Karta Halten B.V., a private limited company organized under the laws of the Netherlands ("Karta Halten"), and Paper Excellence B.V., a private limited company organized under the laws of the Netherlands ("Paper Excellence" together with Domtar and Karta Halten, the "Parent Parties"). The Parent Parties, Merger Sub and the Company are referred to individually as a "Party" and collectively as "Parties".

Pursuant to the terms and conditions of the Merger Agreement, on March 1, 2023, Merger Sub merged with and into the Company (the "Merger"), with the Company continuing as the surviving entity in such Merger (the "Surviving Corporation"). As a result of the Merger, the Surviving Corporation became a wholly-owned subsidiary of Domtar. At the time the Merger became effective (the "Effective Time"), each share of common stock, par value $0.001 per share, of the Company (the "Company Common Stock"), was converted into the right to receive (i) $20.50 in cash, without interest (the "Upfront Per Share Merger Consideration") and (ii) one contractual contingent value right (each a "Contingent Value Right", together with the Upfront Per Share Merger Consideration, the "Merger Consideration"). Any proceeds attributable to the Contingent Value Right will be distributed proportionally to Contingent Value Right holders, and the value will ultimately be determined by the terms and timing of the resolution of the softwood lumber dispute between Canada and the United States.

The Company's non-employee directors, executive officers and employees hold various types of compensatory awards with respect to the Company Common Stock, which include restricted stock units ("RSUs"), performance-based restricted stock units ("PSUs"), deferred stock units ("DSUs") and stock option awards. The Merger Agreement provides for the treatment with respect to such awards. For additional information regarding the Merger Agreement's treatment of outstanding Company RSUs, PSUs, DSUs and stock option awards, please see the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission (the "SEC") on September 20, 2022 which is incorporated herein by reference. The foregoing description of the Merger and the Merger Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Merger Agreement, which was filed as Exhibit 2.1 to the Company's Current Report on Form 8-K filed on July 7, 2022, and is incorporated herein by reference.

#### Domtar Credit Facilities
*Acquisition of Domtar Corporation by Paper Excellence and Original Domtar Credit Facilities* 

On November 30, 2021, Paper Excellence completed the acquisition of all the outstanding common shares of Domtar by means of a merger of Pearl Merger Sub Inc., a Delaware corporation ("Domtar Merger Sub"), with and into Domtar with Domtar continuing as the surviving corporation and as a subsidiary of Paper Excellence (the "Domtar Acquisition").

In connection with the Domtar Acquisition, on November 30, 2021, Domtar Merger Sub and Domtar (as successor by merger to Domtar Merger Sub) entered into (i) a First Lien Credit Agreement, dated as of November 30, 2021 (the "First Lien Term Loan Credit Agreement"), by and among Domtar Merger Sub, as initial borrower, Domtar, as successor borrower (the "Borrower"), Pearl Excellence Holdco L.P., a Delaware limited partnership ("Holdings"), the lenders party thereto (the "First Lien Lenders") and Barclays Bank PLC, as administrative agent and collateral agent, pursuant to which the First Lien Lenders agreed to extend an initial term loan facility to the Borrower of an aggregate principal amount of up to $525.0 million and a delayed draw term loan facility to the Borrower in an aggregate principal amount of up to $250.0 million, of which $644.985 million remained outstanding as of March 1, 2023, and (ii) an ABL Revolving Credit Agreement, dated as of November 30, 2021 (the "Original ABL Credit Agreement"; and, together with the First Lien Term Loan Credit Agreement, the "Original Domtar Credit Facilities"), by and among Domtar Merger Sub, as initial borrower, Domtar, as successor borrower, Domtar Inc., a corporation organized under the federal laws of Canada as co-borrower (the "Co-Borrower"), Holdings, the lenders party thereto (together with the Incremental ABL Lenders (as defined below), the "ABL Lenders") and Barclays Bank PLC, as administrative agent and collateral agent.

------

*2023 Domtar Credit Facilities* 

In connection with the Merger on March 1, 2023, (i) Domtar Paper Company, LLC, a Delaware limited liability company (the "Borrower Representative"), and Domtar A.W. LLC, a Delaware limited liability company, both wholly-owned subsidiaries of Domtar (collectively, the "Farm Credit Borrowers"), entered into a Term Loan Credit Agreement (the "Farm Credit Term Loan Credit Agreement") by and among the Farm Credit Borrowers, Domtar, Holdings, the lenders party thereto (the "Farm Credit Lenders") and CoBank ACB, as administrative agent and collateral agent, pursuant to which the Farm Credit Lenders agreed to extend term loan facilities to the Farm Credit Borrowers in an aggregate principal amount of $949.0 million, consisting of (a) an aggregate principal amount of up to $666.0 million of 2023-A First Lien Term Loans (the "2023-A First Lien Term Loans") used to refinance renewable energy investments and facilitate the Merger, and (b) an aggregate principal amount of up to $283.0 million of 2023-B First Lien Term Loans (the "2023-B First Lien Term Loans") used to repay $283.0 million of borrowings under the First Lien Term Loan Credit Agreement, and (ii) Domtar and the Co-Borrower entered into an Amendment No. 1 to the ABL Revolving Credit Agreement (the "Incremental ABL Amendment"; the Original ABL Credit Agreement, as amended by the Incremental ABL Amendment, the "ABL Credit Agreement"; the Incremental ABL Amendment, together with the Farm Credit Term Loan Credit Agreement, the "2023 Domtar Credit Facilities"; and the 2023 Domtar Credit Facilities, together with the Original Domtar Credit Facilities, the "Domtar Credit Facilities"), by and among Domtar, as borrower, the Co-Borrower, as co-borrower, Holdings, the lenders party thereto (the "Incremental ABL Lenders") and Barclays Bank PLC, as administrative agent and collateral agent, pursuant to which the Incremental ABL Lenders agreed to extend the maturity date of the ABL credit facility under the ABL Credit Agreement to March 1, 2028 (from November 30, 2026) and extend incremental revolving commitments to the Borrower and the Co-Borrower in an aggregate principal amount of up to $620.0 million (resulting in total revolving commitments of up to an aggregate principal amount of $1,000.0 million).

*Guarantee of Credit Facilities and Grant of Security Interests* 

On March 1, 2023, upon the consummation of the Merger and the closing and funding of the 2023 Domtar Credit Facilities, (i) the Company and certain wholly-owned domestic subsidiaries of the Company (collectively, the "U.S. Subsidiary Guarantors") will provide unconditional senior secured guarantees of the obligations of the Farm Credit Borrowers under the Farm Credit Term Loan Credit Agreement, (ii) the Company and the U.S. Subsidiary Guarantors will provide senior secured guarantees of the obligations of Domtar under the First Lien Term Loan Credit Agreement and (iii) the Company, the U.S. Subsidiary Guarantors and certain wholly-owned Canadian subsidiaries of the Company (the "Canadian Subsidiary Guarantors" and, together with the U.S. Subsidiary Guarantors, the "Subsidiary Guarantors") will provide unconditional senior secured guarantees of the obligations of Domtar and the Co-Borrower under the ABL Credit Agreement. Obligations of the Company and the U.S. Subsidiary Guarantors under the Farm Credit Term Loan Credit Agreement will be secured on a first-priority pari passu basis by security interests in all of the assets that secure the First Lien Term Loan Credit Agreement and the 2028 Notes (as defined below) on a first-priority basis (the "Fixed Asset Collateral"), and will be secured on a second-priority basis in all inventory, accounts receivable, deposit accounts, securities accounts, certain related assets and other current assets that secure the ABL Credit Agreement on a first-priority basis and the First Lien Term Loan Credit Agreement, the Farm Credit Term Loan Credit Agreement and the 2028 Notes on a second-priority basis (the "Current Asset Collateral" and, together with the Fixed Asset Collateral, the "Collateral"), in each case, subject to certain limitations and exceptions and permitted liens. Obligations of the Company and the Subsidiary Guarantors under the ABL Credit Agreement will have a first-priority lien on the Current Asset Collateral and a second-priority lien on security interests in the Fixed Asset Collateral (second in priority to the liens securing the 2028 Notes and the term loan facility under the First Lien Term Loan Credit Agreement), in each case, subject to other permitted liens and except for security on principal properties or on shares of restricted subsidiaries.

*Maturity, Interest and Amortization of Credit Facilities* 

The First Lien Term Loan Credit Agreement will mature on November 30, 2028. It bears interest at a floating rate per annum of, at Domtar's option, LIBOR plus 5.50% or a base rate plus 4.50%. The LIBOR rate is subject to an interest rate floor of 0.75% and the base rate is subject to an interest rate floor of 1.75%. Borrowings under the First Lien Term Loan Credit Agreement will amortize in equal quarterly installments in an amount equal to 1.00% per annum of the principal amount.

------

The Farm Credit Term Loan Credit Agreement will mature (i) with respect to the 2023-A First Lien Term Loans, on March 1, 2030, and (ii) with respect to the 2023-B First Lien Term Loans, on November 30, 2028. It will bear interest at a floating rate per annum of, at the Borrower Representative's option, (i) with respect to the 2023-A First Lien Term Loans, SOFR plus 6.00% or a base rate plus 5.00%, and (ii) with respect to the 2023-B First Lien Term Loans, SOFR plus 5.75% or a base rate plus 4.75%. The SOFR rate is subject to an interest rate floor of 0.75% and the base rate is subject to an interest rate floor of 1.75%. Borrowings under the Farm Credit Term Loan Credit Agreement will amortize in equal quarterly installments in an amount equal to equal quarterly installments equivalent to 5.00% per annum of the principal amount. The Farm Credit Term Loan Credit Agreement ranks pari passu with the First Lien Term Loan Credit Agreement and the 2028 Notes.

The ABL Credit Agreement will mature on March 1, 2028. It bears interest at a floating rate per annum of, at Domtar's option, SOFR plus an applicable margin of 1.50% to 2.00% or a base rate plus 0.50% to 1.00%, in each case, depending on excess availability. The SOFR rate is subject to an interest rate floor of 0.00% and the base rate is subject to an interest rate floor of 1.00%. Borrowings under the ABL Credit Agreement will be limited by borrowing base calculations based on the sum of specified percentages of eligible accounts receivable, plus specified percentages of eligible inventory, plus specified percentages of qualified cash, minus the amount of any applicable reserves. Domtar and Co-Borrower may borrow only up to the level of their then-current borrowing base. The ABL Credit Agreement will be subject to an unused line fee of 0.25% to 0.375%, depending on utilization. As of March 1, 2023, after giving effect to the Merger, outstanding borrowings under the ABL Credit Agreement totaled $210.0 million to partially fund the Merger and provide liquidity, and letters of credit totaled $179.0 million, leaving unused commitments available to Domtar of up to $611.0 million (subject to borrowing base capacity).

#### Guarantees of Domtar Senior Secured Notes due 2028
On March 1, 2023, upon the consummation of the Merger, the Company, Domtar, the U.S. Subsidiary Guarantors and The Bank of New York Mellon entered into (i) a supplemental indenture to the Indenture, dated as of October 18, 2021 (as supplemented and amended, the "Senior Secured Notes Indenture"), by and among Domtar, the guarantors party thereto and The Bank of New York Mellon, as trustee and collateral agent, governing Domtar's outstanding 6.750% senior secured notes due 2028 (the "2028 Notes"), pursuant to which the Company and the U.S. Subsidiary Guarantors provided unconditional guarantees of the obligations of Domtar under the Senior Secured Notes Indenture and the 2028 Notes on a senior secured basis, and (ii) a supplement to the Notes Security Agreement, dated as of November 30, 2021, by and among Domtar, Holdings, the grantors party thereto and The Bank of New York Mellon, as trustee and collateral agent, whereby the Company and the U.S. Subsidiary Guarantors granted a security interest in substantially all of their assets, subject to customary exceptions, secured by a lien on substantially all fixed assets of the Company and the U.S. Subsidiary Guarantors, and a second-priority lien on the current asset collateral in the United States (second in priority to the liens securing the ABL Credit Agreement), subject to other permitted liens.

The 2028 Notes may be redeemed prior to maturity under certain circumstances. On or after October 1, 2024, Domtar may redeem some or all of the 2028 Notes at the redemption prices specified in the Senior Secured Notes Indenture, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. Prior to October 1, 2024, Domtar may redeem the 2028 Notes, in whole or in part, at a price equal to 100% of the principal amount of the 2028 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption, plus a "make-whole" premium described in the Senior Secured Notes Indenture. Prior to October 1, 2024, Domtar may also redeem during each calendar year commencing with 2021 up to 10% of the original aggregate principal amount of the 2028 Notes, at its option, from time to time at a redemption price equal to 103% of the aggregate principal amount of the 2028 Notes redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. Prior to October 1, 2024, Domtar may also redeem up to 40% of the original aggregate principal amount or then outstanding amount of the Notes with the net proceeds of certain equity offerings at a redemption price equal to 106.750% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

The Senior Secured Notes Indenture contains customary negative covenants, including, but not limited to, restrictions on the incurrence of additional indebtedness or the guarantee of indebtedness; the payment of dividends or making other distributions in respect of, or repurchase or redemption of, Domtar's capital stock; the prepayment, redemption or repurchase of certain indebtedness; the issuance of certain preferred stock or similar equity securities; the making of loans and investments; the sale or other disposal of assets; the incurrence of liens; entrance into transactions with affiliates; entrance into agreements restricting subsidiaries' ability to pay dividends; and the consolidation, merger or sale of all or substantially all of Domtar's assets.

------

The Senior Secured Notes Indenture provides that, upon the occurrence of certain events of default, Domtar's obligations thereunder may be accelerated. Such events of default will include payment defaults to the holders of the 2028 Notes, covenant defaults, cross-defaults to other material indebtedness, voluntary and involuntary bankruptcy, insolvency, corporate arrangement, winding-up, liquidation or similar proceedings, material money judgments and other customary events of default.

#### Guarantees of Domtar Senior Unsecured Notes due 2042 and Senior Unsecured Notes due 2044
On March 1, 2023, upon the consummation of the Merger, the Company, Domtar, the U.S. Subsidiary Guarantors and The Bank of New York Mellon entered into a supplemental indenture to the Senior Indenture, dated as of November 19, 2007 (as supplemented and amended, the "Senior Unsecured Notes Indenture"), by and among Domtar, the guarantors party thereto and The Bank of New York Mellon, as trustee, governing Domtar's outstanding 6.250% senior unsecured notes due 2042 (the "2042 Notes") and 6.750% senior unsecured notes due 2044 (the "2044 Notes" and, together with the 2042 Notes, the "Senior Unsecured Notes"), pursuant to which the Company and the U.S. Subsidiary Guarantors provided unconditional guarantees of the obligations of Domtar under the Senior Unsecured Notes Indenture and the Unsecured Notes on a senior unsecured basis.

The Senior Unsecured Notes may be redeemed prior to maturity under certain circumstances. The 2042 Notes may be redeemed, in whole, or from time to time in part, at Domtar's option, at a redemption price equal to 100% of the principal amount of the 2042 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption, plus a "make-whole" premium described in the Senior Unsecured Notes Indenture. The 2044 Notes may be redeemed in whole, or, from time to time, in part, at Domtar's option, at a redemption price equal to 100% of the principal amount of the 2044 Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption, plus a "make-whole" premium described in the Senior Unsecured Notes Indenture; provided, that if Domtar redeems any 2044 Notes on or after August 15, 2043 (six months prior to the stated maturity date of the 2044 Notes), the redemption price for those 2044 Notes will equal 100% of the principal amount of the 2044 Notes to be redeemed.

The Senior Unsecured Notes Indenture contains customary negative covenants, including, but not limited to, restrictions on the incurrence of liens; sale and leaseback transactions; and the consolidation, merger or sale of all or substantially all of Domtar's assets.

The Senior Unsecured Notes Indenture provides that, upon the occurrence of certain events of default, Domtar's obligations thereunder may be accelerated. Such events of default will include payment defaults to the holders of the Senior Unsecured Notes, covenant defaults, cross-defaults to other material indebtedness, voluntary and involuntary bankruptcy, insolvency, corporate arrangement, winding-up, liquidation or similar proceedings, material money judgments and other customary events of default.

---

| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.**  |

---

The information set forth in the sections above titled "Domtar Credit Facilities," "Guarantees of Domtar Senior Secured Notes due 2028" and "Guarantees of Domtar Senior Unsecured Notes due 2042 and Senior Unsecured Notes due 2044" of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 1.02** | **Termination of a Material Definitive Agreement.**  |

---

The information set forth in the section above titled "Introduction" of this Current Report on Form 8-K is incorporated herein by reference.

In connection with the consummation of the Merger, the Company repaid in full all outstanding amounts under its (i) Credit Agreement, dated as of May 22, 2015 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the "Existing ABL Agreement"), among the Company, Resolute FP Canada Inc., certain other subsidiaries of the Company as borrowers or guarantors, various lenders, Bank of America, N.A., as U.S. administrative agent and collateral agent, and Bank of America, N.A. (through its

------

Canada branch), as Canadian administrative agent, (ii) Amended and Restated Credit Agreement, dated as of October 28, 2019 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the "Existing Credit Agreement"), among the Company, certain U.S. subsidiaries of the Company, as borrowers and guarantors, various lenders, and American AgCredit, FLCA, as administrative agent and collateral agent, and (iii) Secured Delayed Draw Term Loan Facility, dated as of November 4, 2020 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the "Existing Delayed Draw Facility" and, collectively with the Existing ABL Agreement and Existing Credit Agreement, the "Existing Facilities"), among Resolute FP Canada Inc., a subsidiary of the Company, as borrower, and Investissement Quebec, as lender, and terminated the Existing Facilities and all commitments by the lenders thereunder to extend further credit thereunder in accordance with its terms and any guarantees in connection therewith were terminated and released. The Company did not incur any material early prepayment or termination penalties as a result of such terminations.

In connection with the consummation of the Merger, the Company redeemed all of its outstanding $300 million aggregate principal amount of its 4.875% Senior Notes due 2026 (the "Existing Notes") at a redemption price equal to 102.438% of the principal amount of the Existing Notes redeemed, plus the accrued and unpaid interest on the Existing Notes so redeemed. In connection with such redemption, the indenture governing the Existing Notes, dated as of February 2, 2021, between the Company, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee, has been discharged.

---

| | |
|:---|:---|
| **Item 2.01** | **Completion of Acquisition or Disposition of Assets.**  |

---

The information set forth in the section above titled "Introduction" of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement**  |

---

The information set forth in the sections above titled "Domtar Credit Facilities," "Guarantees of Domtar Senior Secured Notes due 2028" and "Guarantees of Domtar Senior Unsecured Notes due 2042 and Senior Unsecured Notes due 2044" of this Current Report on Form 8-K is incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 3.01** | **Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**  |

---

The information set forth in the section above titled "Introduction" of this Current Report on Form 8-K is incorporated herein by reference.

On March 1, 2023, in connection with the consummation of the Merger, the Company notified the New York Stock Exchange (the "NYSE") of the completion of the Merger and requested that trading in the Company Common Stock be suspended and the Company Common Stock be withdrawn from listing on the NYSE. The NYSE filed a notification of removal from listing on Form 25 with the SEC with respect to the Company Common Stock to report the delisting of the Company Common Stock from the NYSE and suspend trading of the Company Common Stock on the NYSE prior to the opening of trading on March 1, 2023. On February 14, 2023, the Toronto Stock Exchange (the "TSX") accepted notice of the delisting of the Company Common Stock from the TSX following the consummation of the Merger. The Company Common Stock will be delisted from the TSX two or three trading days following the consummation of the Merger.

The Company intends to file with the SEC a certificate of notice of termination on Form 15 with respect to the Company Common Stock, requesting that the Company Common Stock be deregistered under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and that the reporting obligations of the Company with respect to the Company Common Stock under Sections 13 and 15(d) of the Exchange Act be suspended. The Company has also applied to cease to be a reporting issuer in each of the provinces and territories of Canada.

---

| | |
|:---|:---|
| **Item 3.03** | **Material Modification to Rights of Security Holders.**  |

---

The information set forth in the section above titled "Introduction" and in Item 2.01, Item 3.01 and Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

------

---

| | |
|:---|:---|
| **Item 5.01** | **Changes in Control of Registrant.**  |

---

The information set forth in the section above titled "Introduction" and in Item 2.01, Item 5.02 and Item 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

As a result of the consummation of the Merger, a change of control of the Company occurred, and the Company became a wholly-owned subsidiary of Domtar.

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

---

The information set forth in the section above titled "Introduction" of this Current Report on Form 8-K is incorporated herein by reference.

*Directors* 

In accordance with the terms of the Merger Agreement, as of the Effective Time, each of Remi G. Lalonde, Duncan K. Davies, Bradley P. Martin, Randall C. Benson, Suzanne Blanchet, Jennifer C. Dolan, Alain Rhéaume and Michael S. Rousseau ceased to be directors of the Company. These departures were in connection with the Merger and not due to any disagreement with the Company on any matter. As of the Effective Time, Hardi Wardhana and Sugiarto Kardiman became the directors of the Surviving Corporation.

*Amended Change in Control Agreement for Remi G. Lalonde* 

On February 24, 2023, the Company entered into an amended change in control agreement with Remi G. Lalonde (the "Amended CIC Agreement"), which became effective upon the closing of the Merger. The Amended CIC Agreement amends and supersedes Mr. Lalonde's change in control agreement, dated as of March 1, 2021 (the "prior change in control agreement").

The Amended CIC Agreement provides that Mr. Lalonde continues as an employee of the Company after the closing date of the Merger (the "Closing Date") on the terms set forth on Mr. Lalonde's executive employment agreement between him and the Company, dated as of March 1, 2021 (the "Employment Agreement"). Pursuant to the Amended CIC Agreement, Mr. Lalonde resigned as a member of the Company's board of directors on the Closing Date.

Under the terms of the Amended CIC Agreement, the Company shall pay Mr. Lalonde an aggregate gross amount of $4,390,387, which represents the amount that would have been payable to Mr. Lalonde upon a qualifying termination as defined in his prior change in control agreement following the Closing Date, payable in two equal installments on the first and second anniversaries of the Closing Date (the "CIC Payment"). Any remaining CIC Payment amount will accelerate if Mr. Lalonde's employment during the two-year period immediately following the Closing Date is terminated either by Mr. Lalonde's resignation from the Company, subject to his providing the Company with 90 days' notice, or his termination for any reason, including death or disability, other than terminations pursuant to Sections 5.2(d), 5.2(e) or 5.2(f) of the Employment Agreement (relating to certain types of termination for "Cause" (as defined in the Employment Agreement)). All such accelerated amounts shall be payable to Mr. Lalonde within 15 business days following his resignation or termination date. Any such voluntarily resignation by Mr. Lalonde will be deemed a termination for "Good Reason" (as defined in the Employment Agreement) pursuant to the terms of his Employment Agreement and the Amended CIC Agreement. Any CIC Payment amount shall be reduced by any amounts Mr. Lalonde owes the Company. Pursuant to the Amended CIC Agreement, the CIC Payment shall not be treated as including any amounts or other compensation related to healthcare and life insurance coverage, which the Company shall maintain for the duration set forth in Section 4(b) of Mr. Lalonde's prior change in control agreement or will otherwise compensate him for coverage, or parts thereof, that cannot be so continued. In addition, any amounts payable to Mr. Lalonde after the Closing Date in respect of the equity awards made after November 15, 2022 (as contemplated by the Merger Agreement) shall, notwithstanding anything in the applicable equity plan or award agreement to the contrary, (i) immediately vest to the extent they have not already vested at such date and (ii) continue to be held, in all cases, notwithstanding the terms of the applicable equity award plans, on the same terms and conditions as if Mr. Lalonde continued to be employed by the Company.

------

If the CIC Payments would be subject to excise taxes under Sections 280G and 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), such payments would be reduced, but only to the extent it results in Mr. Lalonde retaining a larger amount on an after-tax basis than if the payments were not reduced. The Company shall not reimburse Mr. Lalonde for any excise taxes imposed on him pursuant to the Amended CIC Agreement and any calculations related to Sections 280G and 4999 of the Code shall be conducted by a nationally recognized public accounting firm selected by the Company.

The Company shall pay or reimburse Mr. Lalonde for all costs incurred by him in respect of the negotiation and enforcement of the Amended CIC Agreement, for any dispute related to his termination of employment and in connection with any audit by a taxing authority related to any payment or benefit provided under the Amended CIC Agreement.

---

| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.**  |

---

The information set forth in the section above titled "Introduction" and in Item 2.01 and Item 3.03 of this Current Report on Form 8-K is incorporated herein by reference.

Pursuant to the terms of the Merger Agreement, at the Effective Time, the certificate of incorporation and bylaws of the Company were each amended and restated, and such amended and restated certificate of incorporation and bylaws became the certificate of incorporation and bylaws, respectively, of the Surviving Corporation. Copies of the Amended and Restated Certificate of Incorporation of the Surviving Corporation and the Amended and Restated Bylaws of the Surviving Corporation are attached as Exhibits 3.1 and 3.2, respectively, to this Current Report on Form 8-K and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.**  |

---

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;2.1 | [Agreement and Plan of Merger, dated as of July 5, 2022, by and among Resolute Forest Products Inc., Domtar Corporation, Terra Acquisition Sub Inc., Karta Halten B.V. and Paper Excellence B.V. (incorporated by reference to Exhibit 2.1 of the Current Report on Form 8-K filed by Resolute Forest Products Inc. on July 7, 2022).](http://www.sec.gov/Archives/edgar/data/1393066/000119312522189553/d312572dex21.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;3.1 | [Amended and Restated Certificate of Incorporation of the Surviving Corporation.](d476016dex31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;3.2 | [Amended and Restated Bylaws of the Surviving Corporation.](d476016dex32.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **RESOLUTE FOREST PRODUCTS INC.** | **RESOLUTE FOREST PRODUCTS INC.** |
| By: | /s/ Stephanie Leclaire |
| Name: | Stephanie Leclaire |
| Title: | Senior Vice President, Corporate<br> Affairs and Chief Legal Officer |

---

Date: March 1, 2023

## Exhibit 3.1

**Exhibit 3.1** 

**STATE OF DELAWARE** 

**AMENDED AND RESTATED CERTIFICATE OF INCORPORATION** 

**OF** 

**RESOLUTE FOREST PRODUCTS INC.** 

<u>FIRST</u> 

The name of the corporation (the "<u>Corporation</u>") is RESOLUTE FOREST PRODUCTS INC.

<u>SECOND</u> 

The registered address of the Corporation in the State of Delaware is c/o The Corporation Trust Company, 1209 Orange Street, in the City of Wilmington, County of New Castle, Delaware 19801. The name of the Corporation's registered agent at that address is The Corporation Trust Company. The principal office of the Corporation is located at 1010 De La Gauchetière Street West, Suite 400, Montreal, Quebec, Canada H3B 2N2.

<u>THIRD</u> 

The purpose of the Corporation is to engage in any lawful act or activity for which a corporation may be organized under the General Corporation Law of the State of Delaware, as the same exists or may hereafter be amended ("<u>DGCL</u>") or any successor statute.

<u>FOURTH</u> 

The total number of shares of all classes of stock that the Corporation shall have authority to issue is one hundred (100) shares, all of which are common stock with a par value of $0.01.

<u>FIFTH</u> 

In furtherance and not in limitation of the powers conferred by statute, it is provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. the business and affairs of the Corporation shall be managed by or under the direction of the board of
directors of the Corporation (the " <u>Board of Directors</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the Board of Directors is expressly authorized to adopt, alter, amend or repeal the bylaws of the Corporation
(the " <u>Bylaws</u> ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. the number of directors of the Corporation shall be fixed and may be altered from time to time in the manner
provided in the Bylaws, and vacancies in the Board of Directors and newly created directorships resulting from any increase in the authorized number of directors may be filled, and directors may be removed, as provided in the Bylaws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. all corporate powers and authority of the Corporation (except as at the time otherwise provided by law, by this
Amended and Restated Certificate of Incorporation or by the Bylaws) shall be vested in and exercised by the Board of Directors.

------

<u>SIXTH</u> 

Election of directors need not be by written ballot unless the Bylaws shall so provide.

<u>SEVENTH</u> 

A director of this Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except to the extent such exemption from liability or limitation thereof is not permitted by the DGCL. Neither the amendment nor repeal of this Article SEVENTH shall eliminate or reduce the effect of this Article SEVENTH in respect of any matter occurring, or any cause of action, suit or claim that, but for this Article SEVENTH, would accrue or arise, prior to such amendment or repeal.

<u>EIGHTH</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) <u>Right to Indemnification</u>. In order to induce officers, directors, employees or agents of this Corporation to serve or continue to serve as its officers or directors, or to serve or to continue to serve at the request of this Corporation as director or officer of another corporation, the Corporation shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may hereafter be amended, any person (a "<u>Covered Person</u>") who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (a "<u>Proceeding</u>"), by reason of the fact that he or she, or a person for whom he or she is a legal representative, is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, employee or agent of another entity or enterprise, including service with respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys' fees, judgments, fines, excise taxes and penalties paid under the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder and amounts paid or to be paid in settlement) reasonably incurred by such Covered Person, and such indemnification shall continue as to a person who has ceased to be a director or officer and shall inure to the benefit of his or her heirs, executors and administrators. Notwithstanding the preceding sentence, except as otherwise provided in paragraph (C) below, the Corporation shall be required to indemnify a Covered Person in connection with a Proceeding (or part thereof) commenced by such Covered Person only if the commencement of such Proceeding (or part thereof) by the Covered Person was authorized by the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) <u>Expenses</u>. To the extent not prohibited by applicable law, the Corporation shall pay the expenses (including attorneys' fees, judgments, fines, excise taxes and penalties paid under the Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated thereunder and amounts paid or to be paid in settlement) of defending any Proceeding in advance of its final disposition incurred by a Covered Person who is or was a director, executive officer or treasurer of the Corporation or other officer of the Corporation with a title of senior vice president, divisional president or senior thereto or such additional officer positions of the Corporation designated by the Board of Directors as being entitled to mandatory advancement of expenses, or, as designated by the Board of Directors, by a Covered Person who is or was serving at the request of the Corporation as a director, officer, employee or agent of another entity or enterprise, including service with respect to employee benefit plans, it being understood that the foregoing shall not limit the ability of the Board of Directors to permit additional Covered Persons to be entitled to such advancement of expenses in its discretion as it deems appropriate in the circumstances; provided, however, that, to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding shall be made only upon receipt of an undertaking by the Covered Person to repay all amounts advanced if it should be ultimately determined that the Covered Person is not entitled to be indemnified under this Article EIGHTH or otherwise.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) <u>Right to Bring Suit</u>. If a claim for indemnification or advancement of expenses under this Article EIGHTH is not paid in full within 30 days after a written claim therefor by the Covered Person has been received by the Corporation, the Covered Person may file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim. In any such action, the Corporation shall have the burden of proving that the Covered Person is not entitled to the requested indemnification or advancement of expenses under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) <u>Non-Exclusivity of Rights</u>. The rights conferred on any Covered Person by this Article EIGHTH shall not be restricted, limited or reduced by, and shall not be exclusive of, any other rights that such Covered Person may have or hereafter acquire under any statute, this Amended and Restated Certificate of Incorporation, the Bylaws, agreement, vote of stockholders or disinterested directors or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) <u>Effect of Amendment</u>. Any amendment or repeal of the foregoing provisions of this Article EIGHTH, or the adoption of any provision of this Amended and Restated Certificate of Incorporation inconsistent with this Article EIGHTH, shall not adversely affect any right or protection hereunder of any Covered Person in respect of any act or omission occurring prior to the time of such amendment, repeal or adoption of any such inconsistent provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) <u>Extension</u>. This Article EIGHTH shall not limit the right of the Corporation, to the extent and in the manner permitted by applicable law, to indemnify and to advance expenses to persons other than Covered Persons when and as authorized by appropriate corporate action.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) <u>Insurance</u>. The Corporation may maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any such expense, liability or loss, whether or not the Corporation would have the power to indemnify such person against such expense, liability or loss under the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) <u>Severability</u>. If any provision or provisions of Article SEVENTH or this Article EIGHTH shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of Article SEVENTH and this Article EIGHTH (including, without limitation, each portion of any paragraph of Article SEVENTH or this Article EIGHTH containing any such provision held to be invalid, illegal or unenforceable, that is not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (ii) to the fullest extent possible, the provisions of Article SEVENTH and this Article EIGHTH (including, without limitation, each such portion of any paragraph of Article SEVENTH or this Article EIGHTH containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

<u>NINTH</u> 

Subject to such limitations as may be from time to time imposed by other provisions of this Amended and Restated Certificate of Incorporation, by the Bylaws, by the DGCL or other applicable law, or by any contract or agreement to which the Corporation is or may become a party, the Corporation reserves the right to amend or repeal any provision contained in this Amended and Restated Certificate of Incorporation, in the manner now or hereafter prescribed by statute, and all rights conferred upon stockholders herein are granted subject to this express reservation.

## Exhibit 3.2

**Exhibit 3.2** 

**AMENDED AND RESTATED BYLAWS** 

**OF** 

**RESOLUTE FOREST PRODUCTS INC.** 

As effective on March 1, 2023

<u>PREAMBLE</u> 

These bylaws ("<u>Bylaws</u>") of Resolute Forest Products Inc., a Delaware corporation (the "<u>Corporation</u>"), are subject to, and governed by, the General Corporation Law of the State of Delaware (the "<u>DGCL</u>") and the certificate of incorporation (the "<u>Certificate of Incorporation</u>") of the Corporation then in effect. In the event of a direct conflict between the provisions of these Bylaws and the mandatory provisions of the DGCL or provisions of the Certificate of Incorporation, such provisions of the DGCL or the Certificate of Incorporation, as the case may be, will be controlling.

<u>ARTICLE I</u> 

<u>Offices</u> 

<u>Section</u> <u>1.01</u> <u>Registered</u> <u>Office</u>. The registered office of the Corporation shall be established and maintained at the office of The Corporation Trust Company, 1209 Orange Street, in the City of Wilmington, County of New Castle, Delaware 19801, and said company shall be the registered agent of this Corporation in charge thereof.

<u>Section</u> <u>1.02</u> <u>Other</u> <u>Offices</u>. The Corporation may have other offices, either within or without the State of Delaware, at such place or places as the board of directors of the Corporation (the "<u>Board of Directors</u>") may from time to time appoint or the business of the Corporation may require.

<u>ARTICLE II</u> 

<u>Meetings of Stockholders</u> 

<u>Section</u> <u>2.01</u> <u>Annual</u> <u>Meetings</u>. Unless directors are elected by written consent in lieu of an annual meeting, an annual meeting of stockholders shall be held for the election of directors and for such other business as may be stated in the notice of the meeting. Such meeting shall be held at such place, either within or without the State of Delaware, and at such time and date as the Board of Directors, by resolution, shall determine and as set forth in the notice of the meeting. At each annual meeting, the stockholders entitled to vote shall elect a Board of Directors, and they may transact such other corporate business as shall be stated in the notice of the meeting.

------

<u>Section</u> <u>2.02</u> <u>Special</u> <u>Meetings</u>. Meetings of stockholders for any purpose or purposes may be held at such time and place, within or without the State of Delaware, as shall be stated in the notice of the meeting. Special meetings of the stockholders may be called by the Chairman, the Senior Officer (as hereinafter defined) or the Secretary, or by resolution of the directors.

<u>Section</u> <u>2.03</u> <u>Voting</u>. Each stockholder entitled to vote in accordance with the terms of the Certificate of Incorporation and in accordance with the provisions of these Bylaws shall be entitled to one vote, in person or by proxy, for each share of stock entitled to vote held by such stockholder, but no proxy shall be voted after 11 months from its date unless such proxy provides for a longer period. Upon the demand of any stockholder, the vote for directors and the vote upon any question before the meeting shall be by written ballot. If a quorum exists, action on a matter, other than the election of directors, by a voting group is approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless a greater number of affirmative votes is required by applicable law or the Certificate of Incorporation. Except as provided in Section 3.03 of these Bylaws or the Certificate of Incorporation, directors shall be elected by a plurality of the votes cast at annual meetings of stockholders at which a quorum is present.

A complete list of the stockholders entitled to vote at any meeting, arranged in alphabetical order, with the address of each, and the number of shares held by each, shall be open to examination by any stockholder, for any purpose germane to the meeting, during ordinary business hours for a period beginning two business days after notice of the meeting is given for which the list was prepared and continuing through the meeting at the principal business office of the Corporation. The list shall also be produced and kept at the time and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is present.

<u>Section</u> <u>2.04</u> <u>Quorum</u>. Except as otherwise required by law or by the Certificate of Incorporation, the presence, in person or by proxy, of stockholders holding a majority of the stock of the Corporation entitled to vote shall constitute a quorum at all meetings of the stockholders. In case a quorum shall not be present at any meeting, a majority in interest of the stockholders entitled to vote thereat, present in person or by proxy, shall have power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until the requisite amount of stock entitled to vote shall be present. At any such adjourned meeting at which the requisite amount of stock entitled to vote shall be represented, any business may be transacted which might have been transacted at the meeting as originally noticed; but only those stockholders entitled to vote at the meeting as originally noticed shall be entitled to vote at any adjournment or adjournments thereof. If the adjournment is for more than 30 days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting.

<u>Section</u> <u>2.05</u> <u>Notice</u> <u>of</u> <u>Meetings</u>. Written notice, stating the place, date and time of the meeting, and the general nature of the business to be considered, shall be given to each stockholder entitled to vote thereat at his or her address as it appears on the records of the Corporation, not less than 10 nor more than 60 days before the date of the meeting. No business other than that stated in the notice shall be transacted at any meeting without the unanimous consent of all the stockholders entitled to vote thereat.

------

<u>Section</u> <u>2.06</u> <u>Action</u> <u>Without</u> <u>Meeting</u>. Any action required or permitted by applicable law to be taken at a stockholders' meeting may be taken without a meeting if the action is taken by all the stockholders entitled to vote on the action. The action must be evidenced by one or more written consents describing the action taken, signed by all the stockholders entitled to vote on the action, and be delivered to the Secretary for inclusion in the minutes for filing with the Corporation's records. Stockholder action taken by written consent is effective when the last stockholder signs the consent unless the consent specifies an earlier or later effective date.

<u>ARTICLE III</u> 

<u>Directors</u> 

<u>Section</u> <u>3.01</u> <u>Number</u> <u>and</u> <u>Term</u>. The number of directors which shall constitute the entire Board of Directors of this Corporation shall be not less than two; the exact number shall be determined by resolution of the directors or the stockholders. Unless directors are elected by written consent in lieu of an annual meeting, the Board of Directors shall be elected at each annual meeting of the stockholders. Each director shall hold office until his or her successor shall be elected and shall qualify or until such director's earlier resignation or removal. Directors need not be stockholders.

<u>Section</u> <u>3.02</u> <u>Resignations</u>. Any director or member of a committee may resign at any time. Such resignation shall be made in writing, and shall take effect at the time specified therein, and if no time be specified, at the time of its receipt by the Senior Officer or by the Secretary. The acceptance of a resignation shall not be necessary to make it effective.

<u>Section</u> <u>3.03</u> <u>Vacancies</u>. If the office of any director or member of a committee becomes vacant, for any reason, the remaining directors in office, though less than a quorum, by a majority vote, or a sole remaining director, may appoint any qualified person to fill such vacancy, who shall hold office for the unexpired term and until such director's successor shall be elected and shall qualify or until such director's earlier resignation or removal.

<u>Section</u> <u>3.04</u> <u>Removal</u>. Any director may be removed either for or without cause at any time by the stockholders, at a special meeting of the stockholders called for the purpose, and the vacancies thus created may be filled at such meeting by the stockholders.

<u>Section</u> <u>3.05</u> <u>Increase</u> <u>of</u> <u>Number</u>. The number of directors may be increased by the affirmative vote of a majority of the directors at any duly constituted meeting of the Board of Directors or by the stockholders at the annual meeting of the stockholders or at a special meeting of the stockholders called for that purpose, and by like vote, the additional directors may be elected at such meetings to hold office until the election and qualification of their successors or until their earlier resignation or removal.

<u>Section</u> <u>3.06</u> <u>Powers</u>. The Board of Directors shall exercise all of the powers of the Corporation except such as are by law, the Certificate of Incorporation, or these Bylaws conferred upon or reserved to the stockholders.

------

<u>Section</u> <u>3.07</u> <u>Committees</u>. The Board of Directors may, by resolution passed by a majority of the whole Board of Directors, designate one or more committees, each committee to consist of one or more of the directors of the Corporation. The Board of Directors may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of any member of any such 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 member of the Board of Directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution designating such committee, shall have and may exercise all of the powers of the Board of Directors in the management of the business and affairs of the Corporation; provided, however, that no such committee shall have power or authority in reference to amending the Certificate of Incorporation, adopting an agreement of merger or consolidation, recommending to the stockholders the sale, lease or exchange of all or substantially all of the Corporation's property and assets, recommending to the stockholders a dissolution of the Corporation or a revocation of a dissolution, filling vacancies on the Board of Directors or any committee (except as permitted herein) or amending these Bylaws; and, unless the resolution expressly so provides, no such committee shall have the power or authority to declare a dividend or to authorize the issuance of stock. In the event the resolution establishing a committee expressly provides that the committee may declare a dividend, any such dividend declared must be pursuant to a formula or method, or within limits, prescribed by the Board of Directors. Such committee or committees shall have such name or names as may be determined from time to time by resolution adopted by the Board of Directors. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors when required.

<u>Section</u> <u>3.08</u> <u>Meetings</u>. Unless directors were elected by written consent in lieu of an annual meeting, the newly elected directors shall hold their first meeting for the purpose of organization and the transaction of business, if a quorum be present, immediately after the annual meeting of the stockholders; or the time and place of such meeting may be fixed by consent in writing of all the directors. This meeting (or action of the Board of Directors by consent in lieu of a meeting) shall be called the "<u>Annual Meeting of the Board</u>". At each Annual Meeting of the Board, the Board of Directors shall elect a slate of officers and committees, if any, and it may transact such other corporate business as shall be stated in the notice of the meeting. Regular meetings of the Board of Directors may be held without notice if the time and place of such meetings are fixed by the Board of Directors. Special meetings of the Board of Directors may be called by the Chairman, the President or the Secretary, or on the written request of any two directors on at least two days' notice to each director, and shall be held at such place or places as may be determined by the directors, or as shall be stated in the call of the meeting.

<u>Section</u> <u>3.09</u> <u>Quorum</u> <u>and</u> <u>Manner</u> <u>of</u> <u>Action</u>. A majority of the directors shall constitute a quorum for the transaction of business. If at any meeting of the Board of Directors there shall be less than a quorum present, a majority of those present may adjourn the meeting from time to time until a quorum is obtained, and no further notice thereof need be given other than by announcement at the meeting which shall be so adjourned. Action by the Board of Directors shall be effective when taken by majority vote of those present at a meeting at which a quorum is present, unless otherwise required by law, by the Certificate of Incorporation or by these Bylaws.

------

<u>Section</u> <u>3.10</u> <u>Compensation</u>. Directors shall not receive any stated salary for their services as directors or as members of committees, but by resolution of the Board of Directors, a fixed fee and expenses of attendance may be allowed for attendance at each meeting. Nothing herein contained shall be construed to preclude any director from serving the Corporation in any other capacity, as an officer, agent or otherwise, and receiving compensation therefor.

<u>Section</u> <u>3.11</u> <u>Attendance</u> <u>at</u> <u>Meetings</u> <u>by</u> <u>Electronic</u> <u>Means.</u> Members of the Board of Directors or any committee thereof may participate in any regular or special meeting of the Board of Directors or such committee by means of conference telephone, videoconferencing or similar communications equipment which allows all persons participating in the meeting to hear each other at the same time. Participation by a director by such electronic means shall constitute presence in person at any such meeting of the Board of Directors or such committee.

<u>Section</u> <u>3.12</u> <u>Action</u> <u>Without</u> <u>Meeting</u>. Any action required or permitted to be taken at any meeting of the Board of Directors, or of any committee thereof, may be taken without a meeting, if all members of the Board of Directors or such committee, as the case may be, consent thereto in writing, or by electronic transmission, and the writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the Board of Directors or such committee.

<u>ARTICLE IV</u> 

<u>Officers</u> 

<u>Section</u> <u>4.01</u> <u>Officers</u>. The officers of the Corporation shall include a President and a Secretary and may include (a) a Chairman and/or a Chief Executive Officer and (b) a Treasurer and/or a Chief Financial Officer, all of whom shall be elected by the Board of Directors and who shall hold office until their successors are elected and qualified or until their earlier resignation or removal. In addition, the Board of Directors may elect one or more Vice Presidents, a Controller and such Assistant Secretaries, Assistant Treasurers and Assistant Controllers as they may deem proper. None of the officers of the Corporation other than the Chairman need be directors. More than one office may be held by the same person, except the offices of (i) Chief Executive Officer and/or President and (ii) Secretary.

<u>Section</u> <u>4.02</u> <u>Resignation,</u> <u>Removal</u>. Any officer may resign at any time. Such resignation shall be made in writing, and shall take effect at the time specified therein, and if no time be specified, at the time of its receipt by the Chairman, the Senior Officer or the Secretary. The acceptance of a resignation shall not be necessary to make it effective. Any officer may be removed, for or without cause, at any time, by the affirmative vote of a majority of the Board of Directors. Any vacancy occurring in any office shall be filled for the unexpired portion of the term by the Board of Directors.

------

<u>Section</u> <u>4.03</u> <u>Chairman</u> <u>of</u> <u>the</u> <u>Board</u>. The Chairman of the Board of Directors (the "<u>Chairman</u>"), if one shall be elected, shall preside, when present, at any meeting of (i) the Board of Directors or (ii) the stockholders. The Chairman shall act in a general advisory capacity to the Senior Officer, and, in the absence or disability of such Senior Officer, he or she may take upon the exercise of all of the powers and responsibilities of that officer. The Chairman shall have such further powers and duties as may be conferred upon him or her by the Board of Directors or contemplated by Section 4.07 of these Bylaws, entitled "Vice Presidents".

<u>Section</u> <u>4.04</u> <u>Chief</u> <u>Executive Officer</u>. The Chief Executive Officer, if one shall be elected, shall be the senior officer of the Corporation ("<u>Senior Officer</u>") and shall, under the direction of the Board of Directors, have responsibility for the general direction of the business, policies and affairs of the Corporation. Without limiting the generality of the foregoing, the Chief Executive Officer shall, in the absence or disability of the Chairman, or if one shall not have been elected, preside at all meetings of the stockholders and the Board of Directors, and shall see that all orders and resolutions of the Board of Directors are carried into effect. In addition, the Chief Executive Officer shall have the power to sign all contracts, powers of attorney and other instruments on behalf of the Corporation and to execute bonds, mortgages and other contracts of the Corporation, except where required by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly and exclusively delegated by the Board of Directors to some other officer or officers of the Corporation.

<u>Section 4.05</u> <u>President</u>. Subject to such supervisory powers, if any, as may be given by the Board of Directors to the Chairman or the Chief Executive Officer, the President (in the absence of a Chief Executive Officer in office) shall be the Senior Officer and shall, subject to the control of the Board of Directors, have the general powers and duties of management usually vested in the office of president of a corporation and shall have such other powers and duties as may be prescribed by the Board of Directors or these Bylaws. In the absence or disability of the Chief Executive Officer, or if one shall not have been elected, the President shall perform all the duties of the Chief Executive Officer and when so acting shall have all the powers of, and be subject to all the restrictions upon, the Chief Executive Officer. In addition, the President shall have the power to sign all contracts, powers of attorney and other instruments on behalf of the Corporation and to execute bonds, mortgages and other contracts, except where required by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly and exclusively delegated by the Board of Directors to some other officer or officers of the Corporation. Unless a separate President is elected, the Chief Executive Officer shall serve as the President of the Corporation.

<u>Section</u> <u>4.06</u> <u>Chief Financial Officer</u>. The Chief Financial Officer, if one shall be elected, shall have overall supervision of the financial operations of the Corporation subject to the control of the Board of Directors. The Chief Financial Officer shall have such other general powers and duties usually vested in the office of chief financial officer of a corporation and shall have such additional or modified powers and duties as may be prescribed by the Board of Directors or these Bylaws.

<u>Section</u> <u>4.07</u> <u>Vice</u> <u>Presidents</u>. Each Vice President (of any rank, e.g., Executive Vice President, Senior Vice President, Vice President, etc.), if any shall be elected or appointed, shall have such powers and responsibilities as may from time to time be prescribed in writing by the Board of Directors or by the Senior Officer. In the absence or disability of the Senior Officer and provided that the Chairman has not taken upon himself or herself the powers and responsibilities as interim Senior Officer (pursuant to Section 4.03 of these Bylaws), the duties of the Senior Officer shall be performed by, and his or her powers may be exercised by, such Vice President as shall be designated in writing by such Senior Officer or, failing such designation, the Chairman, if any, may appoint either himself or herself or another officer of the Corporation as the interim Senior Officer to exercise all powers and responsibilities of such position; subject in any case to review and superseding action by the Board of Directors.

------

<u>Section</u> <u>4.08</u> <u>Secretary</u>. The Secretary shall attend all meetings of the Board of Directors and the stockholders and shall record all votes and the minutes of all proceedings in a book to be kept for that purpose and shall, when requested, perform like duties for all committees of the Board of Directors. The Secretary shall attend to the giving of notice of all meetings of the stockholders and special meetings of the Board of Directors and committees thereof. The Secretary shall have custody of the corporate seal, if one exists, and shall have authority to affix the same to any instrument and, when so affixed, it shall be attested by his or her signature. The Secretary shall keep and account for all books, documents, papers and records of the Corporation, except those for which some other officer or agent is properly accountable, and shall have authority to execute certificates with respect to the contents thereof. The Secretary shall have authority to sign stock certificates, and shall generally perform all the duties appertaining to the office of secretary of a corporation. In addition, any Assistant Secretary may perform the duties of the Secretary.

<u>Section</u> <u>4.09</u> <u>Treasurer</u>. The Treasurer, if one shall be elected, shall have the care and custody of all the funds of the Corporation and shall deposit the same in such banks or other depositories as the Board of Directors, or any other officer or officers, or any officer and agent jointly, duly authorized by the Board of Directors, shall, from time to time, direct or approve. 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 his accounts whenever the Board of Directors shall require. The Treasurer shall perform all other necessary acts 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 of Directors, the Treasurer shall give bonds for the faithful discharge of his or her duties in such sums and with such sureties as the Board of Directors shall approve. In addition, any Assistant Treasurer may perform the duties of the Treasurer.

<u>Section</u> <u>4.10</u> <u>Controller</u>. The Controller, if one shall be elected, shall be the chief accounting officer of the Corporation, and shall have active control of and shall be responsible for all matters pertaining to the accounts of the Corporation and its subsidiaries. The Controller shall supervise the auditing of all payrolls and vouchers of the Corporation and its subsidiaries and shall direct the manner of certifying the same; the Controller shall supervise the manner of keeping all vouchers for payments by the Corporation and its subsidiaries and all other documents relating to such payments; the Controller shall receive, audit and consolidate all operating and financial statements of the Corporation, its various departments, divisions and subsidiaries; the Controller shall supervise the books of account of the Corporation and its subsidiaries, their arrangement and classification; and the Controller shall supervise the accounting and auditing practices of the Corporation and its subsidiaries. In addition, any Assistant Controller may perform the duties of the Controller.

------

<u>Section</u> <u>4.11</u> <u>Assistant</u> <u>Secretaries,</u> <u>Assistant</u> <u>Treasurers, and</u> <u>Assistant</u> <u>Controllers</u>. Assistant Secretaries, Assistant Treasurers and Assistant Controllers, if any shall be elected, shall have such powers and responsibilities as shall be prescribed by the Board of Directors, and to the extent not inconsistent with the foregoing, by the officer of the Corporation to which such person reports (e.g., by the Treasurer with respect to an Assistant Treasurer).

<u>Section</u> <u>4.12</u> <u>Other</u> <u>Officers</u> <u>and</u> <u>Agents</u>. The Board of Directors may elect such other officers and agents as it may deem advisable, who shall hold their offices for such terms and shall exercise such powers and responsibilities as shall be prescribed in writing from time to time by the Board of Directors and, to the extent not inconsistent with the foregoing, by the Senior Officer.

<u>Section</u> <u>4.13</u> <u>Appointment of Officers</u>. Notwithstanding anything contained in these Bylaws to the contrary, the Senior Officer shall have the authority to unilaterally appoint any person to hold any office contemplated by Article IV of these Bylaws, other than the offices of Chairman, Chief Executive Officer, President, Chief Financial Officer or Secretary. All such appointed officers shall have such powers and responsibilities applicable to such positions described in these Bylaws. If no Controller has been elected by the Board of Directors, such Senior Officer may also appoint the Controller.

<u>ARTICLE V</u> 

<u>Miscellaneous</u> 

<u>Section</u> <u>5.01</u> <u>Certificates</u> <u>of</u> <u>Stock</u>. The shares of the Corporation shall be uncertificated; provided, that the Board of Directors may provide by resolution that some or all of any or all classes or series of stock shall be represented by certificates, in such form as shall be determined by the Board of Directors. Certificates of stock in the Corporation, if any, shall be signed by the President or a Vice President and the Secretary, an Assistant Secretary, the Treasurer or an Assistant Treasurer of the Corporation. The signatures of the officers upon a certificate may be facsimiles if the certificate is countersigned by a transfer agent or registered by a registrar other than the Corporation or its employee. In case any officer who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the Corporation with the same effect as if such officer continued to hold such office at the date of issue.

<u>Section</u> <u>5.02</u> <u>Transfer</u> <u>Agents</u> <u>and</u> <u>Registrars</u>. The Board of Directors may, in its discretion, appoint one or more banks or trust companies in such city or cities as the Board of Directors may deem advisable, from time to time, to act as transfer agents and registrars of the shares of stock of the Corporation; and upon such appointments being made, no certificate representing shares of stock shall be valid until countersigned by one of such transfer agents and registered by one of such registrars.

------

<u>Section</u> <u>5.03</u> <u>Lost</u> <u>Certificates</u>. In case any certificate representing shares shall be lost, stolen or destroyed, the Board of Directors, or any officer or officers duly authorized by the Board of Directors or these Bylaws, may authorize the issuance of a substitute certificate in place of the certificate so lost, stolen or destroyed, and may cause or authorize such substitute certificate to be countersigned by the appropriate transfer agent and registered by the appropriate registrar. In each such case, the applicant for a substitute certificate shall furnish to the Corporation and to such of its transfer agents and registrars as may require the same, evidence to their satisfaction, in their discretion, of the loss, theft or destruction of such certificate and of the ownership thereof, and also such security or indemnity as may by them be required.

<u>Section</u> <u>5.04</u> <u>Transfer</u> <u>of</u> <u>Shares</u>. Transfers of shares shall be made on the books of the Corporation only by the person named in the certificate, or by attorney lawfully constituted in writing, and upon surrender and cancellation of a certificate or certificates for a like number of shares of the same class, with duly executed assignment and power of transfer endorsed thereon or attached thereto, and with such proof of the authenticity of the signatures as the Corporation or its agents may reasonably require, and new certificates shall thereupon be issued.

<u>Section</u> <u>5.05</u> <u>Stockholders</u> <u>Record</u> <u>Date</u>. 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 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 of Directors may fix, in advance, a record date, which shall not be more than 70 days before the meeting or action requiring a determination of stockholders. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided, however, that the Board of Directors may fix a new record date for the adjourned meeting.

<u>Section</u> <u>5.06</u> <u>Dividends</u>. Subject to the provisions of law and of the Certificate of Incorporation, the Board of Directors may, out of funds legally available therefor, at any regular or special meeting, declare dividends upon the capital stock of the Corporation as and when they deem expedient. Before declaring any dividend, there may be set apart out of any funds of the Corporation available for dividends, such sum or sums as the directors from time to time in their discretion deem proper for working capital or as a reserve fund to meet contingencies or for equalizing dividends or for such other purposes as the directors shall deem conducive to the interests of the Corporation.

<u>Section</u> <u>5.07</u> <u>Fiscal</u> <u>Year</u>. The fiscal year of the Corporation shall end on December 31st of each year, or on such other date fixed by resolution of the Board of Directors.

<u>Section</u> <u>5.08</u> <u>Checks</u>. All checks, drafts or other orders for the payment of money, notes or 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 of Directors.

<u>Section</u> <u>5.09</u> <u>Contracts</u>. The Board of Directors may authorize any officer or officers, or any agent or agents, of the Corporation to enter into any contract or to execute and deliver any instrument in the name of and on behalf of the corporation, and such authority may be general or confined to specific instances.

------

<u>Section</u> <u>5.10</u> <u>Inspection of Books and Records</u>. Any stockholder of record, in person or by attorney or other agent, shall, upon written demand under oath stating the purpose thereof, have the right during the usual hours for business to inspect for any proper purpose the corporation's stock ledger, a list of its stockholders, and its other books and records, and to make copies or extracts therefrom. A proper purpose shall mean any purpose reasonably related to such person's interest as a stockholder. In every instance where an attorney or other agent shall be the person who seeks the right to inspection, the demand under oath shall be accompanied by a power of attorney or such other writing which authorizes the attorney or other agent to so act on behalf of the stockholder. The demand under oath shall be directed to the corporation at its registered office in the State of Delaware or at its principal place of business.

<u>Section</u> <u>5.11</u> <u>Notice</u> <u>and</u> <u>Waiver</u> <u>of</u> <u>Notice</u>. Whenever any notice is required by these Bylaws to be given, personal notice is not meant unless expressly so stated, and any notice so required shall be deemed to be sufficient if given by depositing the same in the United States mail, postage prepaid, addressed to the person entitled thereto at his or her address as it appears on the records of the Corporation, and such notice shall be deemed to have been given on the day of such mailing. Notice to directors may also be given by electronic transmission. Stockholders not entitled to vote shall not be entitled to receive notice of any meetings except as otherwise provided by statute. Whenever any notice is required to be given under the provisions of any law, of the Certificate of Incorporation, or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders, directors, or members of a committee of directors need be specified in any written waiver of notice unless so required by the Certificate of Incorporation. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the meeting to the transaction of any business because the meeting is not lawfully called or convened.

<u>ARTICLE VI</u> 

<u>Amendments</u> 

These Bylaws may be altered or repealed, and Bylaws may be made, (1) at any meeting of the stockholders by vote of the stockholders (or pursuant to an action taken pursuant to Section 2.06 of these Bylaws, entitled "Action Without Meeting"), or (2) by the affirmative vote of a majority of the Board of Directors at any meeting of the Board of Directors.