Document:

Exhibit 10.2

 

FORM OF LIBERTY BROADBAND CORPORATION

 

TRANSITIONAL STOCK ADJUSTMENT PLAN

 

ARTICLE I

 

PURPOSE AND AMENDMENT OF PLAN

 

1.1                               Purpose. The purpose of the Plan is to provide for the supplemental grant of cash awards, stock options to purchase the common stock of Liberty Broadband Corporation, a Delaware corporation (together with any successor thereto, the “Company”), stock appreciation rights related to the Company’s common stock, and restricted shares of the Company’s common stock to holders of certain outstanding cash awards, options, stock appreciation rights and restricted shares issued under certain stock-based plans administered by Liberty Media Corporation, a Delaware corporation (“LMC”), in connection with adjustments made to outstanding cash awards, options, stock appreciation rights and restricted shares of LMC Common Stock (as defined below) as a result of the spin-off of the Company from LMC.

 

ARTICLE II

 

DEFINITIONS

 

2.1                               Certain Defined Terms. For purposes of the Plan, the following terms shall have the meanings below stated.

 

“Approved Transaction” means any transaction in which the Board (or, if approval of the Board is not required as a matter of law, the stockholders of the Company) shall approve (i) any consolidation or merger of the Company, or binding share exchange, pursuant to which shares of Common Stock of the Company would be changed or converted into or exchanged for cash, securities, or other property, other than any such transaction in which the common stockholders of the Company immediately prior to such transaction have the same proportionate ownership of the Common Stock of, and voting power with respect to, the surviving corporation immediately after such transaction, (ii) any merger, consolidation or binding share exchange to which the Company is a party as a result of which the Persons who are common stockholders of the Company immediately prior thereto have less than a majority of the combined voting power of the outstanding capital stock of the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors immediately following such merger, consolidation or binding share exchange, (iii) the adoption of any plan or proposal for the liquidation or dissolution of the Company, or (iv) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all, or substantially all, of the assets of the Company.

 

“Awards” means collectively Cash Awards and Stock Incentives.

 

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“Board” means the Board of Directors of the Company.

 

“Board Change” means, during any period of two consecutive years, individuals who at the beginning of such period constituted the entire Board cease for any reason to constitute a majority thereof unless the election, or the nomination for election, of each new director was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period.

 

“Cash Award” means an award denominated in cash and granted by the Company pursuant to Section 8.1.

 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor statute or statutes thereto. Reference to any specific Code section shall include any successor section.

 

“Committee” means the committee of the Board appointed to administer this Plan pursuant to Article IX.

 

“Common Stock” means each or any (as the context may require) series of the Company’s common stock.

 

“Control Purchase” means any transaction (or series of related transactions) in which (1) any person (as such term is defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), corporation or other entity (other than the Company, any Subsidiary of the Company or any employee benefit plan sponsored by the Company or any Subsidiary of the Company) shall purchase any Common Stock of the Company (or securities convertible into Common Stock of the Company) for cash, securities or any other consideration pursuant to a tender offer or exchange offer, without the prior consent of the Board, or (2) any person (as such term is so defined), corporation or other entity (other than the Company, any Subsidiary of the Company, any employee benefit plan sponsored by the Company or any Subsidiary of the Company or any Exempt Person (as defined below)) shall become the “beneficial owner” (as such term is defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the then outstanding securities of the Company ordinarily (and apart from the rights accruing under special circumstances) having the right to vote in the election of directors (calculated as provided in Rule 13d-3(d) under the Exchange Act in the case of rights to acquire the Company’s securities), other than in a transaction (or series of related transactions) approved by the Board. For purposes of this definition, “Exempt Person” means each of (a) the Chairman of the Board, the President and each of the directors of the Company as of the Distribution Date, and (b) the respective family members, estates and heirs of each of the persons referred to in clause (a) above and any trust or other investment vehicle for the primary benefit of any of such persons or their respective family members or heirs. As used with respect to any person, the term “family member” means the spouse, siblings and lineal descendants of such person.

 

“Distribution” means the distribution by LMC to the holders of LMC’s issued and outstanding common stock, par value $0.01 per share, of all of the issued and outstanding shares of Common Stock.

 

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“Distribution Date” means the date on which the Distribution occurs.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

“Fair Market Value” of a share of any series of Common Stock on any day means (i) for Option and SAR exercise transactions effected on any third-party incentive award administration system provided by the Company, the current high bid price of a share of any series of Common Stock as reported on the consolidated transaction reporting system on the principal national securities exchange on which shares of such series of Common Stock are listed on such day or if such shares are not then listed on a national securities exchange, then as quoted by Pink OTC Markets Inc., or (ii) for all other purposes under this Plan, the last sale price (or, if no last sale price is reported, the average of the high bid and low asked prices) for a share of such series of Common Stock on such day (or, if such day is not a trading day, on the next preceding trading day) as reported on the consolidated transaction reporting system for the principal national securities exchange on which shares of such series of Common Stock are listed on such day or if such shares are not then listed on a national securities exchange, then as quoted by Pink OTC Markets Inc.  If for any day the Fair Market Value of a share of the applicable series of Common Stock is not determinable by any of the foregoing means, then the Fair Market Value for such day shall be determined in good faith by the Committee on the basis of such quotations and other considerations as the Committee deems appropriate.

 

“Incentive Plan” means the Liberty Media Corporation 2013 Incentive Plan, as amended, the Liberty Media Corporation 2013 Nonemployee Director Plan, as amended, and the Liberty Media Corporation Transitional Stock Adjustment Plan, as amended, and any other stock option or incentive plan adopted or assumed by LMC pursuant to which any Participant holds an outstanding LMC Award as of the Record Date. Depending on the context, “Incentive Plan” shall mean all of such plans or a particular one of such plans.

 

“LMC Award” means (1) an LMC Cash Award, (2) an unexercised and unexpired option to purchase LMC Common Stock, (3) an LMC SAR or (4) an unvested award of restricted shares of LMC Common Stock.

 

“LMC Cash Award” means a cash award granted pursuant to an Incentive Plan.

 

“LMC Common Stock” means shares of each or any (as the context may require) series of LMC’s common stock, par value $.01 per share.

 

“LMC Corporate Holder” means an individual who, as of the Record Date, is or formerly was (1) an employee or consultant of LMC or a Qualifying Subsidiary or (2) a member of the board of directors of LMC or a Qualifying Subsidiary.  The Committee may, in its discretion, determine that (i) an individual who does not meet any of the foregoing criteria should be classified as an LMC Corporate Holder or (ii) an individual who otherwise would qualify as an LMC Corporate Holder should not be classified as such.

 

“LMC SAR” means a stock appreciation right with respect to any series of LMC Common Stock.

 

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“Option” means an option to purchase Common Stock, granted by the Company to a Participant pursuant to Section 6.1 of the Plan.

 

“Participant” means a person who is an LMC Corporate Holder and who, as of the Record Date, holds an outstanding LMC Award.

 

“Person” means an individual, corporation, limited liability company, partnership, trust, incorporated or unincorporated association, joint venture or other entity of any kind.

 

“Plan” means this Liberty Broadband Corporation Transitional Stock Adjustment Plan, as set forth herein and as from time to time amended.

 

“Qualifying Subsidiary” means a former direct or indirect subsidiary of LMC, any successor of any such former subsidiary, and the parent company (directly or indirectly) of any such former subsidiary or successor, including without limitation the Company, Liberty Interactive Corporation, Ascent Capital Group, Inc., Discovery Communications, Inc., Liberty Global, Inc. and Starz.

 

“Record Date” means 5:00 p.m. New York City time, on October 29, 2014.

 

“Restricted Stock Award” means an award of restricted shares of Common Stock, granted by the Company to a Participant pursuant to Section 5.1.

 

“SARs” means stock appreciation rights, awarded pursuant to Section 7.1, with respect to shares of any specified series of Common Stock.

 

“Securities Act” means the Securities Act of 1933, as amended.

 

“Stock Incentives” means collectively the Restricted Stock Awards, SARs and Options.

 

“Subsidiary” of a Person means any present or future subsidiary (as defined in Section 424(f) of the Code) of such Person or any business entity in which such Person owns, directly or indirectly, 50% or more of the voting, capital or profits interests. An entity shall be deemed a subsidiary of a Person for purposes of this definition only for such periods as the requisite ownership or control relationship is maintained.

 

ARTICLE III

 

RESERVATION OF SHARES

 

The aggregate number of shares of Common Stock which may be issued under this Plan shall not exceed [·] shares, subject to adjustment as hereinafter provided. Any part of such [·] shares of Common Stock may be issued pursuant to Restricted Stock Awards. The shares of Common Stock which may be granted pursuant to Stock Incentives will consist of either authorized but unissued shares of Common Stock or shares of Common Stock which have been issued and reacquired by the Company, including shares purchased in the open market. The total number of shares authorized under this Plan shall be subject to increase or decrease in order to 

 

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give effect to the adjustment provision of Section 11.3 and to give effect to any amendment adopted as provided in Section 11.1.

 

ARTICLE IV

 

PARTICIPATION IN PLAN

 

4.1                               Eligibility to Receive Awards. Awards under this Plan may be granted only to persons who are Participants.

 

4.2                               Participation Not Guarantee of Employment. Nothing in this Plan or in the instrument evidencing the grant of an Award shall in any manner be construed to limit in any way the right of the Company, LMC or any of their respective Subsidiaries to terminate the employment of a Participant at any time, without regard to the effect of such termination on any rights such Participant would otherwise have under the Plan or any Incentive Plan, or give any right to such a Participant to remain employed by the Company, LMC or any of their respective Subsidiaries in any particular position or at any particular rate of compensation.

 

ARTICLE V

 

STOCK AWARDS

 

5.1                               Grant of Restricted Stock Awards.

 

(a)                                 Grant. Restricted Stock Award(s) shall be granted to each Participant who, as of the Distribution Date, holds an outstanding LMC Award(s) consisting of unvested restricted shares of LMC Common Stock.

 

(b)                                 Award of Shares. Each Restricted Stock Award shall be for the number and series of shares of Common Stock that the Participant receives in the Distribution on the corresponding award of restricted shares of LMC Common Stock. Each Restricted Stock Award and the restricted shares of Common Stock issued thereunder shall continue to be subject to all the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding award of restricted shares of LMC Common Stock was made and any such terms, conditions and restrictions as may be determined to be appropriate by the Committee.

 

(c)                                  Lapse of Restrictions. The restrictions on each Restricted Stock Award shall lapse in accordance with the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding award of restricted shares of LMC Common Stock was made; provided, however, that a Participant’s employment or service, at the request of or with the consent of LMC, with the Company, LMC, a Qualifying Subsidiary or any of their respective Subsidiaries shall be deemed to be employment or service with the Company and LMC for all purposes under a Restricted Stock Award.

 

(d)                                 Award Documentation. Restricted Stock Awards shall be evidenced in such form as the Committee shall approve and contain such terms and conditions as shall be contained therein or incorporated by way of reference to the Incentive Plan or any associated instrument governing the corresponding award of restricted shares of LMC Common Stock, which need not be the same for all Restricted Stock Awards.

 

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(e)                                  Rights with Respect to Shares. No Participant who is granted a Restricted Stock Award shall have any rights as a stockholder by virtue of such grant until shares are actually issued or delivered to the Participant.

 

ARTICLE VI

 

OPTIONS

 

6.1                               Grant of Options.

 

(a)                                 Grant. Option(s) shall be granted to each Participant who, as of the Record Date, holds an outstanding LMC Award(s) consisting of an option to purchase shares of LMC Common Stock. Except as otherwise provided in this Plan, each Option shall continue to be subject to all the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding option to purchase LMC Common Stock was made and any such terms, conditions and restrictions as may be determined to be appropriate by the Committee.

 

(b)                                 Option Shares. Each Option shall be for the number and series of shares of Common Stock that a Participant would have received in the Distribution if the applicable option for LMC Common Stock had been exercised immediately prior to the Record Date.

 

(c)                                  Option Price. The purchase price per share of Common Stock under each Option shall be established by the Committee. The Option price shall be subject to adjustment in accordance with the provisions of Section 11.3 hereof.

 

(d)                                 Option Documentation. Options shall be evidenced in such form as the Committee shall approve and contain such terms and conditions as shall be contained therein or incorporated by way of reference to the Incentive Plan or any associated instrument governing the corresponding option to purchase LMC Common Stock which need not be the same for all Options.

 

6.2                               Exercise and/or Termination of Options.

 

(a)                                 Terms of Option. Options granted under this Plan may be exercised at the same time and in the same manner as the corresponding option to purchase LMC Common Stock.  Options granted under this Plan shall expire at the same time and in the same manner as the corresponding option to purchase LMC Common Stock, as provided in the applicable Incentive Plan and any associated instrument governing such option to purchase LMC Common Stock; provided, however, that a Participant’s employment or service, at the request of or with the consent of LMC, with the Company, LMC, a Qualifying Subsidiary or any of their respective Subsidiaries shall be deemed to be employment or service with the Company and LMC for all purposes under an Option.

 

(b)                                 Payment on Exercise. No shares of Common Stock shall be issued on the exercise of an Option unless paid for in full at the time of purchase. Payment for shares of Common Stock purchased upon the exercise of an Option and any amounts required under Section 11.4 shall be determined by the Committee and may consist of (i) cash, (ii) check, (iii) promissory note (subject to applicable law), (iv) whole shares of any series of Common Stock, (v) the 

 

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withholding of shares of the applicable series of Common Stock issuable upon such exercise of the Option, (vi) the delivery, together with a properly executed exercise notice, of irrevocable instructions to a broker to deliver promptly to the Company the amount of sale or loan proceeds required to pay the purchase price, or (vii) any combination of the foregoing methods of payment, or such other consideration and method of payment as may be permitted for the issuance of shares under the Delaware General Corporation Law. The permitted method or methods of payment of the amounts payable upon exercise of an Option, if other than in cash, shall be set forth in the applicable Option agreement and may be subject to such conditions as the Committee deems appropriate.

 

(c)                                  Value of Shares. Unless otherwise determined by the Committee and provided in the applicable Option agreement, shares of any series of Common Stock delivered in payment of all or any part of the amounts payable in connection with the exercise of an Option, and shares of any series of Common Stock withheld for such payment, shall be valued for such purpose at their Fair Market Value as of the exercise date.

 

(d)                                 Issuance of Shares. The Company shall effect the transfer of the shares of Common Stock purchased under the Option as soon as practicable after the exercise thereof and payment in full of the purchase price therefor and of any amounts required by Section 11.4, and within a reasonable time thereafter, such transfer shall be evidenced on the books of the Company. Unless otherwise determined by the Committee and provided in the applicable Option agreement, (i) no Participant or other person exercising an Option shall have any of the rights of a stockholder of the Company with respect to shares of Common Stock subject to an Option granted under the Plan until due exercise and full payment has been made, and (ii) no adjustment shall be made for cash dividends or other rights for which the record date is prior to the date of such due exercise and full payment.

 

(e)                                  Exercise.  For purposes of this Article VI, the date of exercise of an Option shall mean the date on which the Company shall have received notice from the holder of the Option of the exercise of such Option (unless otherwise determined by the Committee and provided in the applicable Option agreement).

 

ARTICLE VII

 

SARS

 

7.1                               Grant of SARs.

 

(a)                                 Grant. SARs shall be granted to each Participant who, as of the Record Date, holds an outstanding LMC Award(s) consisting of an LMC SAR. Except as otherwise provided in this Plan, each SAR shall continue to be subject to all the terms and conditions of the applicable Incentive Plan and associated instrument under which the LMC SAR was made and any such terms, conditions and restrictions as may be determined to be appropriate by the Committee.

 

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(b)                                 SAR Shares. Each SAR shall be for the number and series of shares of Common Stock that a Participant would have received in the Distribution if the shares of LMC Common Stock subject to such LMC SAR, respectively, had been outstanding on the Record Date.

 

(c)                                  Base Price. The base price per share of Common Stock under each SAR shall be established by the Committee. The base price shall be subject to adjustment in accordance with the provisions of Section 11.3 hereof.

 

(d)                                 SAR Documentation. SARs shall be evidenced in such form as the Committee shall approve and contain such terms and conditions as shall be contained therein or incorporated by way of reference to the Incentive Plan or any associated instrument governing the corresponding LMC SAR which need not be the same for all SARs.

 

7.2                               Exercise and/or Termination of SARs.

 

(a)                                 Terms of SARs. SARs granted under this Plan may be exercised at the same time and in the same manner as the corresponding LMC SAR. SARs granted under this Plan shall expire at the same time and in the same manner as the applicable LMC SAR as provided in the applicable Incentive Plan and any associated instrument governing the LMC SAR; provided, however, that a Participant’s employment or service, at the request of or with the consent of LMC, with the Company, LMC, a Qualifying Subsidiary or any of their respective Subsidiaries shall be deemed to be employment or service with the Company and LMC for all purposes under a SAR.

 

(b)                                 Consideration. The consideration to be received upon the exercise of a SAR shall be paid in cash, shares of the applicable series of Common Stock with respect to which the SAR was granted (valued at Fair Market Value on the date of exercise of such SAR), a combination of cash and such shares of the applicable series of Common Stock or such other consideration, in each case, as provided in the SAR agreement.  No fractional shares of Common Stock shall be issuable upon exercise of a SAR, and unless otherwise provided in the applicable SAR agreement, the holder will receive cash in lieu of fractional shares.

 

(c)                                  Exercise.  For purposes of this Article VII, the date of exercise of a SAR shall mean the date on which the Company shall have received notice from the holder of the SAR of the exercise of such SAR (unless otherwise determined by the Committee and provided in the applicable SAR agreement).

 

ARTICLE VIII

 

CASH AWARDS

 

8.1                               Grant.  Cash Award(s) shall be granted to each Participant who, as of the Record Date, holds an outstanding LMC Award(s) consisting of an unvested LMC Cash Award(s).

 

8.2                               Value.  Each Cash Award shall provide the Participant with the opportunity to earn a cash payment in an amount equal to the amount the Participant would have received pursuant to the unvested LMC Cash Award, in accordance with the terms of such LMC Cash Award.

 

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8.3                               Lapse of Restrictions.  The restrictions on each Cash Award shall lapse in accordance with the terms and conditions of the applicable Incentive Plan and associated instrument under which the corresponding LMC Cash Award was made; provided, however, that a Participant’s employment or service, at the request of or with the consent of LMC, with the Company, LMC, a Qualifying Subsidiary or any of their respective Subsidiaries shall be deemed to be employment or service with the Company or LMC for all purposes under a Cash Award.  A Cash Award shall only be paid following the written certification of the Compensation Committee of the Board that the terms and conditions of the Cash Award are satisfied.

 

8.4                               Award Documentation. Cash Awards shall be evidenced in such form as the Committee shall approve and contain such terms and conditions as shall be contained therein or incorporated by way of reference to the Incentive Plan or any associated instrument governing the corresponding award of LMC Cash Awards, which need not be the same for all Cash Awards.

 

ARTICLE IX

 

ADMINISTRATION OF PLAN

 

9.1                               The Committee. This Plan shall be administered solely by the Compensation Committee of the Board or such other committee of the Board as the Board shall designate to administer the Plan. A majority of the Committee shall constitute a quorum thereof and the actions of a majority of the Committee at a meeting at which a quorum is present, or actions unanimously approved in writing by all members of the Committee, shall be the actions of the Committee. Vacancies occurring on the Committee shall be filled by the Board. The Committee shall have full and final authority to interpret this Plan and any instruments evidencing Awards granted hereunder, to prescribe, amend and rescind rules and regulations, if any, relating to this Plan and to make all determinations necessary or advisable for the administration of this Plan. The Committee’s determination in all matters referred to herein shall be conclusive and binding for all purposes and upon all persons including, but without limitation, the Company, LMC, the shareholders of the Company, the shareholders of LMC, the Committee and each of the members thereof, and the Participants, and their respective successors in interest. The Committee may delegate any of its rights, powers and duties to any one or more of its members, or to any other person, by written action as provided herein, acknowledged in writing by the delegate or delegates, except that the Committee may not delegate to any person the authority to grant Stock Incentives to, or take other action with respect to, Participants who are subject to Section 16 of the Exchange Act. Such delegation may include, without limitation, the power to execute any documents on behalf of the Committee.

 

9.2                               Liability of Committee. No member of the Committee shall be liable for any action or determination made or taken by him or the Committee in good faith with respect to the Plan. The Committee shall have the power to engage outside consultants, auditors or other professionals to assist in the fulfillment of the Committee’s duties under this Plan at the Company’s expense.

 

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9.3                               Determinations of the Committee. The Committee may, in its sole discretion, waive any provisions of any Award, provided such waiver is not inconsistent with the terms of the applicable Incentive Plan, any associated instrument or this Plan as then in effect.

 

ARTICLE X

 

AMENDMENT AND TERMINATION OF PLAN

 

10.1                        Amendment, Modification, Suspension or Termination. The Board may from time to time amend, modify, suspend or terminate the Plan for the purpose of meeting or addressing any changes in legal requirements or for any other purpose permitted by law except that (i) subject to Section 11.6, no amendment or alteration that would impair the rights of any Participant under any Award awarded to such Participant shall be made without such Participant’s consent and (ii) no amendment or alteration shall be effective prior to approval by the Company’s shareholders to the extent such approval is then required pursuant to applicable legal requirements or the applicable requirements of the securities exchange on which the Company’s Common Stock is listed. With the consent of the Participant, or as otherwise permitted under Section 11.6, and subject to the terms and conditions of the Plan, the Committee may amend outstanding Award agreements with any Participant, including any amendment which would (i) accelerate the time or times at which the Award may be exercised and/or (ii) extend the scheduled expiration date of the Award.

 

10.2                        Termination. The Board may at any time terminate this Plan as of any date specified in a resolution adopted by the Board. If not earlier terminated, this Plan shall terminate on the last date that any Option or SAR granted hereunder may be exercised or any restriction applicable to a Restricted Stock Award granted hereunder has lapsed, whichever occurs later.

 

ARTICLE XI

 

MISCELLANEOUS PROVISIONS

 

11.1                        Exclusion from Pension and Profit-Sharing Computation. By acceptance of an Award, unless otherwise provided in the applicable Award agreement, each Participant shall be deemed to have agreed that such Award is special incentive compensation that will not be taken into account, in any manner, as salary, compensation or bonus in determining the amount of any payment under any pension, retirement or other employee benefit plan, program or policy of the Company or any Subsidiary of the Company. In addition, each beneficiary of a deceased Participant shall be deemed to have agreed that such Award will not affect the amount of any life insurance coverage, if any, provided by the Company on the life of the Participant which is payable to such beneficiary under any life insurance plan covering employees of the Company or any Subsidiary of the Company.

 

11.2                        Government and Other Regulations. The obligation of the Company with respect to Awards shall be subject to all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required, including the effectiveness of any registration statement required under the Securities Act, and the rules and regulations of any securities exchange or association on which the Common Stock may be listed or quoted. For so long as any 

 

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series of Common Stock is registered under the Exchange Act, the Company shall use its reasonable efforts to comply with any legal requirements (i) to maintain a registration statement in effect under the Securities Act with respect to all shares of the applicable series of Common Stock that may be issued to Participants under the Plan and (ii) to file in a timely manner all reports required to be filed by it under the Exchange Act.

 

11.3                        Adjustments.

 

(a)                                 (i)  If the Company subdivides its outstanding shares of any series of Common Stock into a greater number of shares of such series of Common Stock (by stock dividend, stock split, reclassification, or otherwise) or combines its outstanding shares of any series of Common Stock into a smaller number of shares of such series of Common Stock (by reverse stock split, reclassification, or otherwise) or if the Committee determines that any stock dividend, extraordinary cash dividend, reclassification, recapitalization, reorganization, stock redemption, split-up, spin-off, combination, exchange of shares, warrants or rights offering to purchase such series of Common Stock or other similar corporate event (including mergers or consolidations other than those which constitute Approved Transactions, adjustments with respect to which shall be governed by Section 11.3(b)) affects any series of Common Stock so that an adjustment is required to preserve the benefits or potential benefits intended to be made available under the Plan, then the Committee, in such manner as the Committee, in its sole discretion, deems equitable and appropriate, shall make such adjustments to any or all of (i) the number and kind of shares of stock which thereafter may be awarded, optioned or otherwise made subject to the benefits contemplated by the Plan, (ii) the number and kind of shares of stock subject to outstanding Stock Incentives, (iii) the purchase or exercise price and the relevant appreciation base with respect to any of the foregoing and (iv) the terms of the Cash Awards, provided, however, that the number of shares subject to any Stock Incentive shall always be a whole number. The Committee may, if deemed appropriate, provide for a cash payment to a Participant in connection with any adjustment made pursuant to this Section 11.3(a).

 

(ii)                                  Notwithstanding any provision of the Plan to the contrary, in the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, the Committee shall be authorized, in its discretion, (i) to provide, prior to the transaction, for the acceleration of the vesting and exercisability of, or lapse of restrictions with respect to, the Award and, if the transaction is a cash merger, provide for the termination of any portion of the Award that remains unexercised at the time of such transaction, or (ii) to cancel any such Awards and to deliver to the Holders cash in an amount that the Committee shall determine in its sole discretion is equal to the fair market value of such Awards on the date of such event, which in the case of Options or SARs shall be the excess of the Fair Market Value (as determined in sub-section (ii) of the definition of such term) of Common Stock on such date over the purchase price of the Options or the base price of the SARs, as applicable.

 

(b)                                 Approved Transactions; Board Change; Control Purchase. In the event of any Approved Transaction, Board Change or Control Purchase, notwithstanding any contrary waiting period, installment period, vesting schedule or restriction period in any Award agreement or in the Plan, unless the applicable Award agreement provides otherwise: (i) in the case of an Option or SAR, each such outstanding Option or SAR granted under the Plan shall become exercisable in full in respect of the aggregate number of shares covered thereby; (ii) in the case of Common 

 

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Stock awarded under a Restricted Stock Award, any restriction period applicable to each such Common Stock shall be deemed to have expired and all such Common Stock shall become vested; and (iii) in the case of a Cash Award, the effect of an Approved Transaction, Board Change or Control Purchase shall be the effect prescribed for the corresponding LMC Cash Award in the event of an Approved Transaction, Board Change or Control Purchase with respect to LMC in the applicable Award agreement.  Notwithstanding the foregoing, unless otherwise provided in the applicable Award agreement, the Committee may, in its discretion, determine that any or all outstanding Awards of any or all types granted pursuant to the Plan will not vest or become exercisable on an accelerated basis in connection with an Approved Transaction if effective provision has been made for the taking of such action which, in the opinion of the Committee, is equitable and appropriate to substitute a new Award or to assume such Award and to make such new or assumed Award, as nearly as may be practicable, equivalent to the old Award (before giving effect to any acceleration of the vesting or exercisability thereof), taking into account, to the extent applicable, the kind and amount of securities, cash or other assets into or for which the applicable series of Common Stock may be changed, converted or exchanged in connection with the Approved Transaction.

 

(c)                                  Compliance with Section 409A.  No adjustment or substitution pursuant to this Section 11.3 shall be made in a manner that results in noncompliance with the requirements of Section 409A, to the extent applicable.

 

11.4                        Withholding of Taxes. The Company’s obligation to deliver shares of Common Stock or pay cash in respect of any Awards under the Plan shall be subject to applicable federal, state and local tax withholding requirements. Federal, state and local withholding tax due upon the exercise of any Option or SAR, upon the vesting of any Cash Awards or upon the vesting of, or expiration of restrictions with respect to, Common Stock granted under Restricted Stock Awards, may, in the discretion of the Committee, be paid in shares of the applicable series of Common Stock already owned by the Participant or through the withholding of shares otherwise issuable to such Participant, upon such terms and conditions (including the conditions referenced in Section 6.2) as the Committee shall determine. If the Participant shall fail to pay, or make arrangements satisfactory to the Committee for the payment of, all such federal, state and local taxes required to be withheld with respect to an Award, then the Company shall, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to such Participant an amount equal to any federal, state or local taxes of any kind required to be withheld with respect to such Award.

 

11.5                        Restrictions on Benefit.  Notwithstanding any provision of this Plan to the contrary, the provisions of any Incentive Plan concerning restrictions on benefits (in order to avoid excise taxes on the Participant under Section 4999 of the Code or the disallowance of a deduction to the Company pursuant to Section 280G of the Code) are specifically incorporated by this reference.

 

11.6                        Section 409A. It is the intent of the Company that Awards under this Plan comply with the requirements of, or be exempt from the application of, Section 409A of the Code and related regulations and United States Department of the Treasury pronouncements (“Section 409A”), and the provisions of this Plan will be administered, interpreted and construed accordingly.  Notwithstanding any provision in this Plan or any Incentive Plan to the contrary, if 

 

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any Plan or Incentive Plan provision or any Award thereunder would result in the imposition of an additional tax under Section 409A, that Plan or Incentive Plan provision and/or that Award will be reformed to avoid imposition of the applicable tax and no action taken to comply with Section 409A shall be deemed to adversely affect the Participant’s right to an Award(s) or require the consent of the Participant.

 

13EX-4.1

 Exhibit 4.1 

AMENDED AND RESTATED 

CERTIFICATE OF INCORPORATION 

OF 
 ZAYO GROUP
HOLDINGS, INC. 
 Zayo Group Holdings, Inc. (the “Corporation”), a corporation duly organized and existing under the
General Corporation Law of the State of Delaware (the “DGCL”), does hereby certify as follows: 
 (a) The
Corporation’s original Certificate of Incorporation was filed with the Secretary of State of the State of Delaware on November 13, 2007 under the Corporation’s former name, Zayo Bandwidth Holdings, Inc. 

(b) Pursuant to Section 242 of the DGCL, the amendments and restatements herein set forth have been duly approved by the Board of
Directors and the stockholders of the Corporation. 
 (c) Pursuant to Section 245 of the DGCL, this Amended and Restated Certificate of
Incorporation restates and integrates and further amends the provisions of the Certificate of Incorporation of the Corporation. 
 The text of the Amended
and Restated Certificate of Incorporation of the Corporation is as follows: 
 ARTICLE I 

NAME 
 The name of the
Corporation is Zayo Group Holdings, Inc. 
 ARTICLE II 

AGENT 
 The address of the
Corporation’s registered office in the State of Delaware is 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. The name of its registered agent at such address is The Corporation Trust Company. 

ARTICLE III 
 PURPOSE

 The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the DGCL.

 ARTICLE IV 

STOCK 
 Section 4.1
Authorized Stock. The total number of shares which the Corporation shall have authority to issue is 900,000,000, of which 850,000,000 shall be designated as Common Stock, par value $0.001 per share (the “Common Stock”),
and 50,000,000 shall be designated as Preferred Stock, par value $0.001 per share (the “Preferred Stock”). 

Section 4.2 Common Stock. 

(a) Voting Rights. Each holder of Common Stock, as such, shall be entitled to one vote for each share of Common Stock held of record by
such holder on all matters on which stockholders generally are entitled to vote; provided, however, that, except as otherwise required by law, holders of Common Stock, as such, shall not be entitled to vote on any amendment to this
Amended and Restated Certificate of Incorporation, including any certificate of designations relating to any series of Preferred Stock (each hereinafter referred to as a “Preferred Stock Designation”), that relates solely to the
terms of one or more outstanding series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such series, to vote thereon pursuant to this Amended and Restated
Certificate of Incorporation (including any Preferred Stock Designation). 
 (b) Dividends. Subject to the rights of the holders of
any outstanding series of Preferred Stock, the holders of shares of Common Stock shall be entitled to receive dividends out of any funds of the Corporation legally available therefor when, as and if declared by the Board of Directors. 

(c) Liquidation. Upon the dissolution, liquidation or winding up of the Corporation, subject to the rights of the holders of any
outstanding series of Preferred Stock, the holders of shares of Common Stock shall be entitled to receive the assets of the Corporation available for distribution to its stockholders ratably in proportion to the number of shares held by them. 

Section 4.3 Preferred Stock. The Preferred Stock may be issued from time to time in one or more series. Subject to
limitations prescribed by law and the provisions of this Article IV, the Board of Directors is hereby authorized to provide by resolution and by causing the filing of a Preferred Stock Designation for the issuance of the shares of Preferred
Stock in one or more series, and to establish from time to time the number of shares to be included in each such series, and to fix the designations, powers, preferences, and relative, participating, optional or other rights, if any, and the
qualifications, limitations or restrictions, if any, of the shares of each such series. 
 The authority of the Board of Directors with
respect to each series shall include, but not be limited to, determination of the following: 
 (i) the number of shares constituting such
series, which number the Board of Directors may thereafter (except where otherwise provided in the Preferred Stock Designation) increase or decrease (but not below the number of shares in any such series then outstanding), and the distinctive
designation of such series, which may be by distinguishing number, letter or title; 

  
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 (ii) the dividend rate on the shares of such series, if any; whether dividends shall be
cumulative, and, if so, from which date or dates, and the relative rights of priority, if any, of payment of dividends on shares of such series; 

(iii) whether the shares of such series shall have voting rights (including multiple, fractional or no votes per share) in addition to the
voting rights provided by law, and, if so, the terms of such voting rights; 
 (iv) whether the shares of such series shall have conversion
rights, and, if so, the terms and conditions of such rights, including provision for adjustment of the conversion rate in such events as the Board of Directors shall determine; 

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

(vi) whether a sinking fund shall be provided for the redemption or purchase of shares of such series, and, if so, the terms and the amount
of such sinking fund; 
 (vii) the restrictions, if any, on the issuance of the same series or of any other class or series; 

(viii) the rights of the shares of such series in the event of voluntary or involuntary liquidation, dissolution or winding up of the
Corporation, and the relative rights of priority, if any, of payment of shares of such series; and 
 (ix) any other relative rights,
powers, preferences and qualifications, limitations or restrictions of such series. 
 Section 4.4 No Class Vote on Changes
in Authorized Number of Shares of Stock. Subject to the rights of the holders of any outstanding series of Preferred Stock, the number of authorized shares of any class or classes of stock may be increased or decreased (but not below the number
of shares thereof then outstanding) by the affirmative vote of at least a majority of the voting power of the stock entitled to vote thereon irrespective of the provisions of Section 242(b)(2) of the DGCL. 

ARTICLE V 
 BOARD OF
DIRECTORS 
 Section 5.1 Number. Except as otherwise provided for or fixed pursuant to the provisions of
Article IV hereof (including any Preferred Stock Designation), the Board of Directors shall consist of such number of directors as shall be determined from time to time solely by resolution adopted by the affirmative vote of a majority of the
total number of directors then authorized. 

  
 3 

 Section 5.2 Classification. 

(a) The Board of Directors (other than those directors elected by the holders of any series of Preferred Stock provided for or fixed pursuant
to the provisions of Article IV hereof (including any Preferred Stock Designation) (the “Preferred Stock Directors”)) shall be divided into three classes, as nearly equal in number as possible, designated Class I,
Class II and Class III. Class I directors shall initially serve until the first annual meeting of stockholders following the effectiveness of this Section 5.2; Class II directors shall initially serve until the second annual
meeting of stockholders following the effectiveness of this Section 5.2; and Class III directors shall initially serve until the third annual meeting of stockholders following the effectiveness of this Section 5.2. Commencing with the
first annual meeting of stockholders following the effectiveness of this Section 5.2, directors of each class the term of which shall then expire shall be elected to hold office for a three-year term and until the election and qualification of
their respective successors in office. In case of any increase or decrease, from time to time, in the number of directors (other than Preferred Stock Directors), the number of directors in each class shall be apportioned as nearly equal as possible.
The Board of Directors is authorized to assign members of the Board of Directors already in office to Class I, Class II or Class III, with such assignment becoming effective as of the effectiveness of this Section 5.2. 

(b) Subject to the rights of the holders of any outstanding series of Preferred Stock, and unless otherwise required by law, newly created
directorships resulting from any increase in the authorized number of directors and any vacancies in the Board of Directors resulting from death, resignation, retirement, disqualification, removal from office or other cause shall be filled solely by
the affirmative vote of a majority of the remaining directors then in office and entitled to vote thereon, even though less than a quorum of the Board of Directors, or by the sole remaining director. Any director so chosen shall hold office until
the next election of the class for which such director shall have been chosen and until his or her successor shall have been duly elected and qualified. No decrease in the authorized number of directors shall shorten the term of any incumbent
director. 
 (c) Except for such additional directors, if any, as are elected by the holders of any series of Preferred Stock as provided
for or fixed pursuant to the provisions of Article IV hereof (including any Preferred Stock Designation), any director, or the entire Board of Directors, may be removed from office at any time, but only for cause and only by the affirmative
vote of at least 66 2⁄3% of the voting power of the stock outstanding and entitled to vote thereon. 

(d) During any period when the holders of any series of Preferred Stock have the right to elect additional directors as provided for or fixed
pursuant to the provisions of Article IV hereof (including any Preferred Stock Designation), and upon commencement and for the duration of the period during which such right continues: (i) the then otherwise total authorized number of
directors of the Corporation shall automatically be increased by such number of directors that the holders of any series of Preferred Stock have a right to elect, and the holders of such Preferred Stock shall be entitled to elect the additional
directors so provided for or fixed pursuant to said provisions and (ii) each Preferred Stock Director shall serve until such Preferred Stock Director’s successor shall have been duly elected and qualified, or until such director’s
right to hold such office terminates pursuant to said provisions, whichever occurs 

  
 4 

 
earlier, subject to his or her earlier death, disqualification, resignation or removal. In case any vacancy shall occur among the Preferred Stock Directors, a successor may be elected by the
holders of Preferred Stock pursuant to said provisions. Except as otherwise provided for or fixed pursuant to the provisions of Article IV hereof (including any Preferred Stock Designation), whenever the holders of any series of Preferred Stock
having such right to elect additional directors are divested of such right pursuant to said provisions, the terms of office of all Preferred Stock Directors elected by the holders of such Preferred Stock, or elected to fill any vacancies resulting
from the death, resignation, disqualification or removal of such additional directors, shall forthwith terminate and the total authorized number of directors of the Corporation shall be reduced accordingly. 

Section 5.3 Powers. Subject to the provisions of the DGCL and to any limitations in this Amended and Restated Certificate
of Incorporation relating to action required to be approved by the stockholders, the business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. 

Section 5.4 Election; Annual Meeting of Stockholders. 

(a) Ballot Not Required. The directors of the Corporation need not be elected by written ballot unless the Bylaws of the Corporation so
provide. 
 (b) Notice. Advance notice of nominations for the election of directors, and of business other than nominations, to be
proposed by stockholders for consideration at a meeting of stockholders of the Corporation shall be given in the manner and to the extent provided in the Bylaws of the Corporation. 

ARTICLE VI 
 STOCKHOLDER
ACTION 
 Except as otherwise provided for or fixed pursuant to the provisions of Article IV hereof (including any Preferred Stock
Designation), no action that is required or permitted to be taken by the stockholders of the Corporation at any annual or special meeting of stockholders may be effected by written consent of stockholders in lieu of a meeting of stockholders. 

ARTICLE VII 
 SPECIAL
MEETINGS OF STOCKHOLDERS 
 Except as otherwise required by law, and except as otherwise provided for or fixed pursuant to the
provisions of Article IV hereof (including any Preferred Stock Designation), a special meeting of the stockholders of the Corporation may be called at any time only by the Chairman of the Board of Directors, the Chief Executive Officer, or the
Board of Directors. 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. 

ARTICLE VIII 
 EXISTENCE

 The Corporation shall have perpetual existence. 

  
 5 

 ARTICLE IX 

AMENDMENT 

Section 9.1 Amendment of Certificate of Incorporation. The Corporation reserves the right at any time, and from time to
time, to amend, alter, change or repeal any provision contained in this Amended and Restated Certificate of Incorporation, and other provisions authorized by the laws of the State of Delaware at the time in force may be added or inserted, in the
manner now or hereafter prescribed by the laws of the State of Delaware, and all powers, preferences and rights of any nature conferred upon stockholders, directors or any other persons by and pursuant to this Amended and Restated Certificate of
Incorporation in its present form or as hereafter amended are granted subject to this reservation; provided, however, that except as otherwise provided in this Amended and Restated Certificate of Incorporation and in addition to any
requirements of law, the affirmative vote of at least 66 2⁄3% of the voting power of the stock outstanding and entitled to vote thereon, voting together as a
single class, shall be required to adopt, amend or repeal, or adopt any provision inconsistent with, Section 4.3 (Preferred Stock), Section 5.1 (Number), Section 5.2 (Classification), Section 5.4(b) (Notice), Article VI
(Stockholder Action), Article VII (Special Meetings of Stockholders), Article IX (Amendment), Article X (Liability of Directors), Article XI (Competition and Corporate Opportunities), or Article XII (DGCL Section 203 and Business Combinations)
of this Amended and Restated Certificate of Incorporation. 
 Section 9.2 Amendment of Bylaws. In furtherance and not in
limitation of the powers conferred by the laws of the State of Delaware, the Board of Directors is expressly authorized to adopt, amend or repeal the Bylaws of the Corporation. Except as otherwise provided in this Amended and Restated Certificate of
Incorporation or the Bylaws of the Corporation, and in addition to any requirements of law, the affirmative vote of at least 66 2⁄3% of the voting power of the
stock outstanding and entitled to vote thereon, voting together as a single class, shall be required for the stockholders to adopt, amend or repeal the Bylaws of the Corporation. 

ARTICLE X 
 LIABILITY OF
DIRECTORS 
 Section 10.1 No Personal Liability. To the fullest extent permitted by the DGCL as the same exists or as
may hereafter be amended, no director of the Corporation shall be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director. 

Section 10.2 Amendment or Repeal. Any amendment, alteration or repeal of this Article X that adversely affects any
right of a director shall be prospective only and shall not limit or eliminate any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment or
repeal. 

  
 6 

 ARTICLE XI 

COMPETITION AND CORPORATE OPPORTUNITIES 

Section 11.1 Corporate Opportunities. 

(a) In recognition and anticipation that (i) certain directors, principals, officers, employees and/or other representatives of the
stockholders of the Corporation set forth on Exhibit A (each an “Original Stockholder” and together the “Original Stockholders”) and their respective Affiliates (as defined below) may serve as directors,
officers or agents of the Corporation, and (ii) the Original Stockholders and their Affiliates may now engage and may continue to engage in the same or similar activities or related lines of business as those in which the Corporation, directly
or indirectly, may engage and/or other business activities that overlap with or compete with those in which the Corporation, directly or indirectly, may engage, the provisions of this Article XI are set forth to regulate and define the conduct of
certain affairs of the Corporation with respect to certain classes or categories of business opportunities as they may involve any of the Original Stockholders or their respective Affiliates, any director, officer, employee or other representative
of an Original Stockholder or any of their respective Affiliates who is also a director, officer or agent of the Corporation and the powers, rights, duties and liabilities of the Corporation and its directors, officers, agents and stockholders in
connection therewith. 
 (b) None of (i) the Original Stockholders or any of their respective Affiliates or (ii) any director,
officer, employee or other representative of an Original Stockholder or any of their respective Affiliates who is also a director, officer or agent of the Corporation (the Persons (as defined below) identified in (i) and (ii) above being
referred to, collectively, as “Identified Persons” and, individually, as an “Identified Person”) shall, to the fullest extent permitted by law, have any duty to refrain from directly or indirectly (1) engaging
in the same or similar business activities or lines of business in which the Corporation or any of its Affiliates now engages or proposes to engage or (2) otherwise competing with the Corporation or any of its Affiliates, and, to the fullest
extent permitted by law, no Identified Person shall be liable to the Corporation or its stockholders or to any Affiliate of the Corporation for breach of any fiduciary duty solely by reason of the fact that such Identified Person engages in any such
activities. To the fullest extent permitted by law, the Corporation hereby renounces any interest or expectancy in, or right to be offered an opportunity to participate in, any business opportunity which may be a corporate opportunity for an
Identified Person and the Corporation or any of its Affiliates, except as provided in Section 11.1(c) of this Article XI. Subject to Section 11.1(c) of this Article XI, in the event that any Identified Person acquires knowledge of a
potential transaction or other business opportunity which may be a corporate opportunity for itself, herself or himself and the Corporation or any of its Affiliates, such Identified Person shall, to the fullest extent permitted by law, have no duty
to communicate or offer such transaction or other business opportunity to the Corporation or any of its Affiliates and, to the fullest extent permitted by law, shall not be liable to the Corporation or its stockholders or to any Affiliate of the
Corporation for breach of any fiduciary duty as a stockholder, director, officer or agent of the Corporation solely by reason of the fact that such Identified Person pursues or acquires such corporate opportunity for itself, herself or himself, or
offers or directs such corporate opportunity to another Person. 
 (c) The Corporation does not renounce its interest in any corporate
opportunity offered to any officer or director of an Original Stockholder or any of their respective Affiliates who is also a director or officer of the Corporation if the Corporation demonstrates by clear and convincing evidence that such
opportunity was expressly offered to such person solely in his or her capacity as a director or officer of the Corporation, and the provisions of Section 11.1(b) of this Article XI shall not apply to any such corporate opportunity. 

  
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 (d) In addition to and notwithstanding the foregoing provisions of this Article XI, a corporate
opportunity shall not be deemed to be a potential corporate opportunity for the Corporation if it is a business opportunity that (i) the Corporation is neither financially or legally able, nor contractually permitted, to undertake,
(ii) from its nature, is not in the line of the Corporation’s business or is of no practical advantage to the Corporation or (iii) is one in which the Corporation has no interest or reasonable expectancy. 

Section 11.2 Definitions. For purposes of this Article XI: 

(a) “Affiliate” shall mean (a) in respect of each Original Stockholder, any Person that, directly or indirectly, is
controlled by such Original Stockholder, controls such Original Stockholder or is under common control with such Original Stockholder and shall include any principal, member, director, partner, stockholder, officer, employee or other representative
of any of the foregoing (other than the Corporation and any entity that is controlled by the Corporation), (b) in respect of a director, officer, employee or other representative of an Original Stockholder or any of their respective Affiliates
who is also a director, officer or agent of the Corporation, any Person that, directly or indirectly, is controlled by such Person (other than the Corporation and any entity that is controlled by the Corporation) and (c) in respect of the
Corporation, any Person that, directly or indirectly, is controlled by the Corporation. 
 (b) “control,” including the
terms “controlling,” “controlled by” and “under common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting stock, by contract, or otherwise. A Person who is the owner of 20% or more of the outstanding voting stock of any other Person shall be presumed to have control of such entity, in the absence of proof
by a preponderance of the evidence to the contrary. 
 (c) “Person” shall mean any individual, corporation, general or
limited partnership, limited liability company, joint venture, trust, association or any other entity. 
 Section 11.3 Notice
and Consent. To the fullest extent permitted by law, any Person purchasing or otherwise acquiring any interest in any shares of capital stock of the Corporation shall be deemed to have notice of and to have consented to the provisions of this
Article XI. 
 ARTICLE XII 

DGCL SECTION 203 AND BUSINESS COMBINATIONS 

Section 12.1 Opt-Out of Restrictions on Business Combinations with Interested Stockholders. The Corporation hereby
expressly elects not to be governed by Section 203 of the DGCL. 
 Section 12.2 Certain Restrictions on Business
Combinations with Interested Stockholders. Notwithstanding the foregoing, the Corporation shall not engage in any business 

  
 8 

 
combination (as defined below), at any point in time at which the Corporation’s Common Stock is registered under Section 12(b) or 12(g) of the Exchange Act, with any interested
stockholder (as defined below) for a period of three (3) years following the time that such stockholder became an interested stockholder, unless: 

(a) prior to such time, the Board of Directors approved either the business combination or the transaction which resulted in the stockholder
becoming an interested stockholder, or 
 (b) upon consummation of the transaction which resulted in the stockholder becoming an interested
stockholder, the interested stockholder owned at least 85% of the voting stock (as defined below) of the Corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding (but not the
outstanding voting stock owned by the interested stockholder) those shares owned (i) by persons who are directors and also officers, and (ii) through employee stock plans in which employee participants do not have the right to determine
confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer, or 
 (c) at or subsequent to such
time, the business combination is approved by the Board of Directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least
66 2⁄3% of the outstanding voting stock of the Corporation which is not owned by the interested stockholder. 

Section 12.3 Definitions. For purposes of this Article XII, references to: 

(a) “affiliate” means a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by,
or is under common control with, another person. 
 (b) “associate,” when used to indicate a relationship with any person,
means: (i) any corporation, partnership, unincorporated association or other entity of which such person is a director, officer or partner or is, directly or indirectly, the owner of 20% or more of any class of voting stock; (ii) any trust
or other estate in which such person has at least a 20% beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity; and (iii) any relative or spouse of such person, or any relative of such spouse, who
has the same residence as such person. 
 (c) “business combination,” when used in reference to the Corporation and any
interested stockholder of the Corporation, means: 
 (i) any merger or consolidation of the Corporation or any direct or
indirect majority-owned subsidiary of the Corporation (A) with the interested stockholder, or (B) with any other corporation, partnership, unincorporated association or other entity if the merger or consolidation is caused by the
interested stockholder and as a result of such merger or consolidation Section 12.2 of this Article XII is not applicable to the surviving entity; 

(ii) any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of
transactions), except proportionately 

  
 9 

 
as a stockholder of the Corporation, to or with the interested stockholder, whether as part of a dissolution or otherwise, of assets of the Corporation or of any direct or indirect majority-owned
subsidiary of the Corporation which assets have an aggregate market value equal to 10% or more of either the aggregate market value of all the assets of the Corporation determined on a consolidated basis or the aggregate market value of all the
outstanding stock of the Corporation; 
 (iii) any transaction which results in the issuance or transfer by the Corporation
or by any direct or indirect majority-owned subsidiary of the Corporation of any stock of the Corporation or of such subsidiary to the interested stockholder, except: (A) pursuant to the exercise, exchange or conversion of securities
exercisable for, exchangeable for or convertible into stock of the Corporation or any such subsidiary which securities were outstanding prior to the time that the interested stockholder became such; (B) pursuant to a merger under
Section 251(g) of the DGCL; (C) pursuant to a dividend or distribution paid or made, or the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of the Corporation or any such
subsidiary which security is distributed, pro rata to all holders of a class or series of stock of the Corporation subsequent to the time the interested stockholder became such; (D) pursuant to an exchange offer by the Corporation to purchase
stock made on the same terms to all holders of said stock; or (E) any issuance or transfer of stock by the Corporation; provided, however, that in no case under items (C)-(E) of this subsection (iii) shall there be an
increase in the interested stockholder’s proportionate share of the stock of any class or series of the Corporation or of the voting stock of the Corporation (except as a result of immaterial changes due to fractional share adjustments); 

(iv) any transaction involving the Corporation or any direct or indirect majority-owned subsidiary of the Corporation which has
the effect, directly or indirectly, of increasing the proportionate share of the stock of any class or series, or securities convertible into the stock of any class or series, of the Corporation or of any such subsidiary which is owned by the
interested stockholder, except as a result of immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any shares of stock not caused, directly or indirectly, by the interested stockholder; or 

(v) any receipt by the interested stockholder of the benefit, directly or indirectly (except proportionately as a stockholder
of the Corporation), of any loans, advances, guarantees, pledges, or other financial benefits (other than those expressly permitted in subsections (i)-(iv) above) provided by or through the Corporation or any direct or indirect majority-owned
subsidiary. 
 (d) “control,” including the terms “controlling,” “controlled by” and
“under common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting stock, by contract, or
otherwise. A person who is the owner of 20% or more of the outstanding voting stock of a corporation, partnership, unincorporated association or other entity 

  
 10 

 
shall be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the contrary. Notwithstanding the foregoing, a presumption of control shall not
apply where such person holds voting stock, in good faith and not for the purpose of circumventing this Article XII, as an agent, bank, broker, nominee, custodian or trustee for one or more owners who do not individually or as a group have control
of such entity. 
 (e) “interested stockholder” means any person (other than the Corporation or any direct or indirect
majority-owned subsidiary of the Corporation) that (i) is the owner of 15% or more of the outstanding voting stock of the Corporation, or (ii) is an affiliate or associate of the Corporation and was the owner of 15% or more of the
outstanding voting stock of the Corporation at any time within the three (3) year period immediately prior to the date on which it is sought to be determined whether such person is an interested stockholder; and the affiliates and associates of
such person; but “interested stockholder” shall not include (A) any Original Stockholder, any Original Stockholder Transferee or any of their respective affiliates or successors or any “group”, or any member of any such
group, to which such persons are a party under Rule 13d-5 of the Exchange Act, or (B) any person whose ownership of shares in excess of the 15% limitation set forth herein is the result of any action taken solely by the Corporation, provided
that such person shall be an interested stockholder if thereafter such person acquires additional shares of voting stock of the Corporation, except as a result of further corporate action not caused, directly or indirectly, by such person. For the
purpose of determining whether a person is an interested stockholder, the voting stock of the Corporation deemed to be outstanding shall include stock deemed to be owned by the person through application of the definition of “owner” below
but shall not include any other unissued stock of the Corporation which may be issuable pursuant to any agreement, arrangement or understanding, or upon exercise of conversion rights, warrants or options, or otherwise. 

(f) “Original Stockholder” has the meaning set forth in Section 11.1(a) of this Amended and Restated Certificate of
Incorporation. 
 (g) “Original Stockholder Transferee” means any person that acquires (other than in a registered public
offering) beneficial ownership of 15% or more of the then outstanding voting stock of the Corporation, directly or indirectly, from an Original Stockholder or any other Original Stockholder Transferee, or any of their respective affiliates or
successors, or any “group,” or any member of any such group, of which such persons are a party under Rule 13d-5 of the Exchange Act. 

(h) “ owner” including the terms “own” and “owned,” when used with respect to any stock,
means a person that individually or with or through any of its affiliates or associates: 
 (i) beneficially owns such stock,
directly or indirectly; or 
 (ii) has (A) the right to acquire such stock (whether such right is exercisable
immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise; provided, however, that a person
shall not be deemed the owner of stock tendered pursuant to a tender or 

  
 11 

 
exchange offer made by such person or any of such person’s affiliates or associates until such tendered stock is accepted for purchase or exchange; or (B) the right to vote such stock
pursuant to any agreement, arrangement or understanding; provided, however, that a person shall not be deemed the owner of any stock because of such person’s right to vote such stock if the agreement, arrangement or understanding
to vote such stock arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation made to ten (10) or more persons; or 

(iii) has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to
a revocable proxy or consent as described in item (B) of subsection (ii) above), or disposing of such stock with any other person that beneficially owns, or whose affiliates or associates beneficially own, directly or indirectly, such
stock. 
 (i) “person” means any individual, corporation, partnership, unincorporated association or other entity. 

(j) “stock” means, with respect to any corporation, capital stock and, with respect to any other entity, any equity interest.

 (k) “voting stock” means stock of any class or series entitled to vote generally in the election of directors. 

  
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 Exhibit A 

Original Stockholders 
 Columbia Capital
Equity Partners IV (QP), LP 
 Columbia Capital Equity Partners IV (QPCO), LP 

Columbia Capital Employee Investors IV, LP 
 Columbia Capital
Equity Partners III (QP), LP 
 Columbia Capital Equity Partners III (Cayman), LP 

Columbia Capital Equity Partners III (AI), LP 
 Columbia Capital
Investors III, LLC 
 Columbia Capital Employee Investors III, LLC 

M/C Venture Partners VI, LP 
 M/C Venture Investors, LLC 

M/C Venture Partners V, LP 
 Chestnut Venture Partners, LP 

Corelink Data Centers, LLC 
 Oak Investment Partners XII, LP 

Battery Ventures VII, LP 
 Battery Investment Partners VII, LLC

 Battery Ventures VIII, LP 
 Centennial Ventures VII, LP 

Centennial Entrepreneurs Fund VII, LP 
 Charlesbank Equity Fund
VI, LP 
 CB Offshore Equity Fund VI, LP 
 Charlesbank Equity
Coinvestment Fund VI, LP 
 Charlesbank Equity Coinvestment Partners, LP 

GTB Capital Partners LP 
 Morgan Stanley Private Markets Fund IV
LP 
 Vijverpoort Huizen CV 
 GTCR Fund X/A LP 

GTCR Fund X/C LP 
 GTCR Fund X LP 

GTCR Investors (CII) LP 
 DELTA-V Capital 2011, LP 

 IN WITNESS WHEREOF, the undersigned does make, file and record this Amended and Restated
Certificate of Incorporation, and does certify that the facts stated herein are true as of this 10th day of October, 2014. 

 

			
	ZAYO GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Scott Beer

	Name:	 	Scott Beer
	Title:	 	General Counsel and Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00237-of-00352.parquet"}]]