Document:

exhibit10_3g.htm

    Exhibit
10.3(g)

     

    
      EXECUTION
VERSION

    

     

    SIXTH
AMENDMENT TO RESTRUCTURING AGREEMENT

     

    THIS
SIXTH AMENDMENT TO RESTRUCTURING AGREEMENT (this “Amendment”‘) is made
and entered into as of November 25, 2009, by and between the following
parties:

     

    
      	
               
      

            	
              (a)

            	
              Paul
      G. Allen (the “Undersigned
      Holder”); and

            

    

     

    
      	
               
      

            	
              (b)

            	
              Charter
      Investment, Inc. (“CII”);
      and

            

    

     

    
      	
               
      

            	
              (c)

            	
              Charter
      Communications, Inc., a Delaware corporation (“CCI” or the
      “Company”
      and the Undersigned Holder, CII and the Company, each, a “Party”, and
      collectively, the “Parties”).

            

    

     

    RECITALS

     

    WHEREAS, the Company and the
Undersigned Holder are parties to that certain Restructuring Agreement dated as
of February 11, 2009, as amended on July 30, 2009 and September 24, 2009 (as so
amended, the “Agreement”) governing
certain matters regarding the proceedings commenced on March 27, 2009 (the
“Petition
Date”) upon the filing by CCI and certain of its direct and indirect
subsidiaries (collectively, the “Debtors”) of a
voluntary petition for relief pursuant to chapter 11 of title 11 of the United
States Code in the United States Bankruptcy Court for the Southern District of
New York (the “Bankruptcy
Court”);

     

    WHEREAS, pursuant to the
Agreement, the Undersigned Holder agreed to support a plan of reorganization
consistent in all material respects with, and on terms and conditions no less
favorable than, the terms and conditions set forth in the Agreement and the Term
Sheet incorporated therein;

     

    WHEREAS, in accordance with
the Agreement, on March 27, 2009, the Debtors filed the Debtors’ Joint Plan
of Reorganization Pursuant to chapter 11 of title 11 of the United
States Code, which plan of reorganization has subsequently been modified in
accordance with the Agreement, including the non-material modifications to the
plan of reorganization filed with the Bankruptcy Court on May 7, 2009 and
July 15, 2009 (as the same may be amended from time to time in accordance
with the terms of the Agreement, the “Plan”);
and

     

    WHEREAS, the Parties hereto
wish to amend the Agreement to the extent provided herein.

     

    AMENDMENT TO THE
AGREEMENT

     

    NOW, THEREFORE, in
consideration of these premises and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereto
agree as follows:

     

    1. The
Company’s Responsibilities.  Section (4)(b)(v)
of the Agreement is hereby amended and restated in its entirety to read as
follows:

     

     

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      EXECUTION
VERSION

    

     

     

    
      	
               
      

            	
              “(v)

            	
              cause
      the Effective Date of the Plan to occur no later than on or before
      December 2, 2009; but notwithstanding the following proviso in no event
      shall the Confirmation Date occur in December; provided, that if consents,
      approvals or waivers required to be obtained from governmental authorities
      in connection with the Plan with respect to Franchises, licenses and
      permits covering areas serving at least 80% of the basic subscribers have
      not been obtained on or before December 2, 2009, then cause the Effective
      Date of the Plan to occur no later than on or before December 15,
      2009; and”

            

    

     

    2. Termination.  Section (8)(a)(vii)
of the Agreement is hereby amended and restated in its entirety to read as
follows:

     

    
      	
               
      

            	
              “(vii)

            	
              the
      later of either (a) the Effective Date shall not have occurred on or
      before December 2, 2009 or (b) if consents, approvals or waivers
      required to be obtained from governmental authorities in connection with
      the Plan with respect to Franchises, licenses and permits covering areas
      serving at least 80% of the basic subscribers have not been obtained on or
      before December 2, 2009, and all other conditions precedent to the
      Effective Date shall have been satisfied before December 2, 2009 or waived
      by the Requisite Holders (other than those conditions that by their nature
      are to be satisfied on the Effective Date), then the Effective Date shall
      not have occurred on or before
      December 15,  2009;”

            

    

     

    MISCELLANEOUS

     

    3. Definitions.  Capitalized terms
used in this Amendment, but not otherwise defined herein, shall have the
meanings set forth in the Agreement.

     

    4. Full
Force and Effect.  Except as amended
by this Amendment, the Agreement continues in full force and effect, and the
Parties hereto hereby ratify and confirm the Agreement, as amended
hereby.  All reference to the “Agreement,” “herein,” “hereof,”
“hereunder” or words of similar import in the Agreement shall be deemed to
include the Agreement as amended by this Amendment.

     

    5. Execution
of this Amendment.  This Amendment
may be executed and delivered (by facsimile or otherwise) in any number of
counterparts, each of which, when executed and delivered, shall be deemed an
original, and all of which together shall constitute the same
agreement.  Except as expressly provided in this Amendment, each
individual executing this Amendment on behalf of a Party has been duly
authorized and empowered to execute and deliver this Amendment on behalf of said
Party.

     

    6. Governing
Law; Consent to Jurisdiction and Venue.  THIS AMENDMENT IS
TO BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT
GIVING EFFECT TO THE CHOICE OF LAWS PRINCIPLES THEREOF.  By its
execution and delivery of this Amendment, each of the Parties 

     

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

       

      
        EXECUTION
VERSION

      

       

       

      hereto
hereby irrevocably and unconditionally agrees for itself that any legal action,
suit or proceeding with respect to any matter under or arising out of or in
connection with this Amendment or for recognition or enforcement of any judgment
rendered in any such action, suit or proceeding, shall be brought exclusively in
the Bankruptcy Court in the Southern District of New York.  By
execution and delivery of this Amendment, each of the Parties hereto hereby
irrevocably accepts and submits itself to the exclusive jurisdiction of such
court, generally and unconditionally, with respect to any such action, suit or
proceeding.

    

     

    7. Captions:
Construction.  The headings of
Sections in this Amendment are provided for convenience only and shall not
affect its construction or interpretation.

     

    8. No Third
Party Beneficiaries.  This Amendment is
for the sole benefit of the Parties hereto and their permitted assigns and
nothing herein, express or implied, is intended to or shall confer upon any
other person any legal or equitable benefit, claim, cause of action, remedy or
right of any kind.

     

    9. Entire
Agreement.  The Agreement, as
amended by this Amendment, supersedes all prior agreements between the Parties
hereto with respect to its subject matter and constitutes a complete and
exclusive statement of the terms of the agreement between the Parties with
respect to their subject matter.

     

    10. Retroactive
Effect.  This Amendment
shall be deemed to have been executed prior to the Petition Date and the Parties
agree that under no circumstances shall the Agreement, as amended by this
Amendment or otherwise, be treated as a postpetition agreement.

     

     

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the Parties have entered into this Amendment on the day and
year first written above.

     

     

    
      
         

        
          
            	
                     
      

                  	
                    CHARTER
      COMMUNICATIONS, INC.

                  

          

           

        

         

         

        
          	
                   
      

                	
                   

                	
                  By:       /s/ Eloise
      Schmitz               
          

                

        

        
          	
                   
      

                	
                   

                	
                  
                          
      Name:     Eloise
  Schmitz

                  

                

        

        
          	
                   
      

                	
                  
                     

                  

                	
                  
                          
      Title:       Chief Financial
      Officer

                  

                

        

         

      

    

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
 

     

    
      	
               
      

            	
               

            	
                          
      /s/ Paul G.
      Allen                  
      

            

    

    
      	
               
      

            	
              PAUL
      G. ALLEN

            

    

     

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

     

    
      
         

        
          
            	
                     
      

                  	
                    CHARTER
      INVESTMENT, INC.

                  

          

           

        

         

        
          	
                   
      

                	
                   

                	
                  By:       /s/ William
      McGrath                   
      

                

        

        
          	
                   
      

                	
                   

                	
                  
                          
      Name:     William
  McGrath

                  

                

        

        
          	
                   
      

                	
                  
                     

                  

                	
                  
                          
      Title:       Vice
      PresidentExhibit 4.1

 

CERTIFICATE
OF DETERMINATION

OF

6%
MANDATORY CONVERTIBLE CUMULATIVE

PREFERRED
STOCK, SERIES A

OF

COMMUNITY
VALLEY BANCORP

 

Pursuant to Section 401 of the
Corporations Code of the State of California:

 

We, Gayle J. Lee, Vice President, and John F.
Coger, Chief Financial Officer of Community Valley Bancorp, organized under the
laws of the State of California (hereinafter called the “Corporation”), do
hereby certify as follows:

 

1.                                       On December 8,
2009, the Board of Directors of the Corporation adopted a resolution
designating 240,000 shares of Preferred Stock as “6% Mandatory Convertible
Cumulative Preferred Stock, Series A.”

 

2.                                       No shares of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A have been
issued.

 

3.                                       Pursuant to the
authority conferred upon the Board of Directors by the Articles of
Incorporation of the Corporation, the following resolution was duly adopted by
the Board of Directors on December 8, 2009 creating the series of
Preferred Stock designated as “6% Mandatory Convertible Cumulative Preferred
Stock, Series A”:

 

WHEREAS,
the Articles of Incorporation of the Corporation provide for a class of shares
known as Preferred Stock, issuable from time to time in one or more series; and

 

WHEREAS,
the Board of Directors of the Corporation is authorized to determine or alter
the voting power, preferences, limitations, restrictions and relative rights
granted to or imposed upon any wholly unissued series of Preferred Stock, to
fix the number of shares constituting any such series, and to determine the
designation thereof, or any of them; and

 

WHEREAS,
the Board of Directors of the Corporation desires, pursuant to its authority as
aforesaid, to determine and fix the voting power, preferences, limitations,
restrictions and relative rights relating to, the 6% Mandatory Convertible
Cumulative Preferred Stock, Series A and the number of shares constituting
and the designation of said series;

 

NOW,
THEREFORE, BE IT RESOLVED, that the Board of Directors hereby fixes and
determines the designation of, the number of shares constituting, and the
voting power, preferences, limitations, restrictions and relative rights
relating to the 6% Mandatory Convertible Cumulative Preferred Stock, Series A
as follows:

 

 

(a)           Name. 
The initial series of shares of Preferred Stock shall be designated the “6%
Mandatory Convertible Cumulative Preferred Stock, Series A,” shall consist
of 240,000 shares and shall be offered at $5.00 per share.

 

(b)          Voting Rights.

 

(1)           General.  The holders of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A shall be entitled to vote, in person
or by proxy, at a special or annual meeting of shareholders on all matters
entitled to be voted on by holders of shares of Common Stock voting together as
a single class with shareholders of Common Stock (and with other shares
entitled to vote thereon), including, without limitation, the election of all
of the directors of the Corporation.

 

(2)           6% Mandatory Convertible Cumulative
Preferred Stock, Series A Actions. 
At any meeting of the holders of shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A held for the purpose of voting upon
any resolutions requiring the approval of the holders of shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A, voting as a separate
class or series, the presence in person or by proxy of the holders of a
majority of the shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
then outstanding shall constitute a quorum of the 6% Mandatory Convertible Cumulative
Preferred Stock, Series A; the holders of shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A shall be entitled to cast
one vote per share of 6% Mandatory Convertible Cumulative Preferred Stock, Series A;
and such resolution shall be deemed approved upon the affirmative vote of the
holders of a majority of the outstanding shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A present in person or represented by
proxy at such meeting.

 

(3)           Action Without a Meeting.  Any action required by the California
Corporations Code to be taken at any annual or special meeting of holders of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A, voting as a
separate class or series, may be taken without a meeting, without prior notice
and without a vote, if a consent or consents in writing, setting forth the
action so taken, shall be signed by the holders of outstanding shares of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A having not less
than the minimum number of votes that would be necessary to authorize or take
such action at a meeting of the holders of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A at which all shares entitled to vote thereon are
present and voted and shall be delivered (by hand, facsimile, U.S. Postal
Service or overnight delivery service) to the Corporation by delivery to its
registered office in the State of California, its principal place of business,
or any officer or agent of the Corporation having custody of the book in which
proceedings of meetings of the holders of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A are recorded.

 

Every
written consent shall bear the date of signature of each holder of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A who signs the
consent.  Prompt notice of the taking of
the corporate action without a meeting by less than unanimous written consent
shall, to the extent, required by applicable law, be given to those holders of
6% Mandatory Convertible Cumulative Preferred Stock, Series A who

 

2

 

have not consented in
writing, and who, if the action had been taken at a meeting, would have been
entitled to notice of the meeting if the record date for such meeting had been
the date that written consents signed by a sufficient number of holders to take
the action were delivered to the Corporation.

 

(4)           Major Actions.  Notwithstanding anything to the contrary set
forth in the Articles of Incorporation, as amended or the Bylaws, as amended of
the Corporation, the affirmative vote of the holders of a majority of the
outstanding shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
acting in accordance with paragraph (b)(2) or (b)(3), voting as a separate
class, shall be a prerequisite to:

 

(i)            any amendment to, restatement of or
waiver of the terms of the 6% Mandatory Convertible Cumulative Preferred Stock,
Series A;

 

(ii)           the redemption of any stock that is
junior in ranking to the 6% Mandatory Convertible Cumulative Preferred Stock, Series A;

 

(iii)          until the payment of all dividends
required to be paid as set forth in paragraph (c), any payment upon
liquidation, any distribution or payment of dividend (other than a stock
dividend paid with stock ranking junior to the 6% Mandatory Convertible
Cumulative Preferred Stock, Series A) or other distribution to any stock
ranking junior to the 6% Mandatory Convertible Cumulative Preferred Stock, Series A;
and

 

(iv)         any amendment to this paragraph b(4).

 

(c)           Dividends.  The holders of the 6% Mandatory Convertible
Cumulative Preferred Stock, Series A shall be entitled to receive
dividends, semi-annually at the rate of 6% per annum of $5.00 ($0.15 per
dividend payment) per share, payable on June 15 and December 15 of
each year.  Dividends on the 6% Mandatory
Convertible Cumulative Preferred Stock, Series A shall (i) accrue on
each such share from the date of its original issuance and shall accrue day to
day, whether or not declared; (ii) be payable before any dividends on the
Corporation’s Common Stock are paid or declared and set apart; and (iii) be
cumulative, so that if dividends required to be paid under this clause on the
outstanding 6% Mandatory Convertible Cumulative Preferred Stock, Series A
have not been paid or set apart for any year or years after the date of
issuance of the 6% Mandatory Convertible Cumulative Preferred Stock, Series A,
the amounts of the deficiency shall be first fully paid or declared and set
apart for payment, but without interest, before any distribution, by dividend
or otherwise, payable other than in shares of the Corporation’s Common Stock,
is declared, paid on, or set apart for the shares of the Corporation’s Common
Stock.  “Distribution” in this paragraph (c) means
the transfer of cash or property without consideration, whether by way of
dividend or otherwise (except a dividend in shares of the Corporation which are
junior to the 6% Mandatory Convertible Cumulative Preferred Stock, Series A
as to dividends or assets) including any such transfer by a subsidiary of the
Corporation.  The time of any
distribution by way of dividend shall be the date of declaration thereof.  The payment of dividends on the 6% Mandatory
Convertible Cumulative Preferred Stock, Series A shall be made only after
all dividends have been paid or set apart for payment on any of the shares of
the Corporation’s Preferred Stock that have a dividend rights preference over
the 6% Mandatory Convertible Cumulative Preferred Stock, Series A.

 

3

 

(d)          Conversion Rights.  The shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A shall have the following rights of
conversion.

 

(1)           Optional Conversion.  Six months after the date of issuance of the
shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A, any
holder of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
shall have the right, at its option, provided that notice of conversion is
given by the holder of shares of 6% Mandatory Convertible Cumulative Preferred
Stock, Series A at least three business days prior to a conversion date (“Conversion
Date”) to convert, subject to the terms and provisions of this paragraph (d),
any or all of such holder’s shares of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A into such number of fully paid and nonassessable
shares of the Corporation’s Common Stock as is equal to the product of (i) the
number of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
being so converted multiplied by (ii) the quotient (“Conversion Rate”) of (x) the
sum of $5.00 plus any unpaid dividends on the 6% Mandatory Convertible
Cumulative Preferred Stock, Series A after issuance divided by (y) $2.00
(subject to adjustment as provided in paragraph (d)(4) below).  The “Conversion Date” shall mean the first
business day on or after June 15, or December 15 in any calendar
year, at which time the Preferred Shares are effectively converted into shares
of the Corporation’s Common Stock.  Such
conversion right shall be exercised by the surrender of certificate(s) representing
the shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
to be converted to the Corporation at any time during usual business hours at
its principal place of business maintained by it (or such other office or
agency of the Corporation as the Corporation may designate by notice in writing
to the holders of shares of 6% Mandatory Convertible Cumulative Preferred
Stock, Series A), accompanied by written notice that the holder elects to
convert such shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
and specifying the name or names (with address) in which a certificate or
certificates for shares of the Corporation’s Common Stock are to be issued and
(if so required by the Corporation) by a written instrument or instruments of
transfer in form reasonably satisfactory to the Corporation duly executed by
the holder or its duly authorized legal representative and transfer tax stamps
or funds therefor, if required pursuant to paragraph (d)(9) below.  All certificates representing shares of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A surrendered for
conversion shall be delivered to the Corporation for cancellation and canceled
by it.  As promptly as practicable after
the applicable Conversion Date, the Corporation shall (subject to compliance
with the applicable provisions of federal and state securities laws) deliver to
the holder of such shares so surrendered certificate(s) representing the
number of fully paid and nonassessable whole shares of the Corporation’s Common
Stock into which such shares are entitled to be converted and cash in lieu of
any fractional share.  At the time of the
surrender of such certificate(s), the person or entity in whose name any
certificate(s) for shares of Common Stock shall be issuable upon such
conversion shall be deemed to be the holder of record of such shares of Common
Stock on such date, notwithstanding that the share register of the Corporation
shall then be closed or that the certificates representing such Common Stock of
the Corporation shall not then be actually delivered to such person or entity.

 

4

 

(2)           Termination of Rights.  On the date of such optional conversion
pursuant to paragraph (d)(1) above all rights with respect to the shares
of 6% Mandatory Convertible Cumulative Preferred Stock, Series A so
converted, including the rights, if any, to receive notices and vote, shall terminate,
except only the rights of holders thereof to (i) receive certificates for
the number of shares of the Corporation’s Common Stock into which such shares
of 6% Mandatory Convertible Cumulative Preferred Stock, Series A have been
converted and (ii) exercise the rights to which they are entitled as
holders of the Corporation’s Common Stock.

 

(3)           Mandatory
Conversion.  Any shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A that are outstanding on December 31,
2011 shall be mandatorily converted into such number of fully paid and
nonassessable shares of the Corporation’s Common Stock as is equal to the
product of (i) the number of shares of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A being so converted multiplied by (ii) the
quotient (“Conversion Rate”) of (x) the sum of $5.00 plus any unpaid
dividends on the 6% Mandatory Convertible Cumulative Preferred Stock, Series A
after issuance divided by (y) $2.00 (subject to adjustment as provided in
paragraph (d)(4) below).  Such
conversion shall be effected by the surrender by the respective holders of
certificate(s) representing the shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A to be converted to the Corporation at
any time during usual business hours at its principal place of business
maintained by it (or such other office or agency of the Corporation as the
Corporation may designate by a letter of transmittal specifying the name or
names (with address) in which a certificate or certificates for shares of the
Corporation’s Common Stock are to be issued and (if so required by the
Corporation) by a written instrument or instruments of transfer in form
reasonably satisfactory to the Corporation duly executed by the holder or its
duly authorized legal representative and transfer tax stamps or funds therefor,
if required pursuant to paragraph (d)(9) below.  All certificates representing shares of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A surrendered for
conversion shall be delivered to the Corporation for cancellation and canceled
by it.  As promptly as practicable after
the applicable Conversion Date, the Corporation shall (subject to compliance
with the applicable provisions of federal and state securities laws) deliver to
the holder of such shares so surrendered certificate(s) representing the
number of fully paid and nonassessable whole shares of the Corporation’s Common
Stock into which such shares are entitled to be converted and cash in lieu of
any fractional share.  At the time of the
surrender of such certificate(s), the person or entity in whose name any
certificate(s) for shares of Common Stock shall be issuable upon such
conversion shall be deemed to be the holder of record of such shares of Common
Stock on such date, notwithstanding that the share register of the Corporation
shall then be closed or that the certificates representing such Common Stock of
the Corporation shall not then be actually delivered to such person or
entity.  Also, upon such mandatory
conversion, all rights with respect to the shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A so converted, including the rights,
if any, to receive notices and vote, shall terminate, except only the rights of
holders thereof to (i) receive certificates for the number of shares of
the Corporation’s Common Stock into which such shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A have been converted and (ii) exercise
the rights to which they are entitled as holders of the Corporation’s Common
Stock.

 

5

 

(4)           (A)          Dividend,
Subdivision, Combination or Reclassification of Common Stock.  In the event that the Corporation shall at
any time or from time to time, prior to conversion of shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A (w) pay a dividend
or make a distribution on the outstanding shares of Common Stock payable in
capital stock of the Corporation, (x) subdivide the outstanding shares of
Common Stock into a larger number of shares, (y) combine the outstanding
shares of Common Stock into a smaller number of shares or (z) issue any
shares of its capital stock in a reclassification of the Common Stock (other
than any such event for which an adjustment is made pursuant to another clause
of this paragraph (d)(4)), then, and in each such case, the Conversion Rate in
effect immediately prior to such event shall be adjusted (and any other
appropriate actions shall be taken by the Corporation) so that the holder of
any share of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
thereafter surrendered for conversion shall be entitled to receive the number
of shares of Common Stock or other securities of the Corporation that such
holder would have owned or would have been entitled to receive upon or by
reason of any of the events described above, had such share of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A been converted
immediately prior to the occurrence of such event.  An adjustment made pursuant to this paragraph
(d)(4)(A) shall become effective retroactively (x) in the case of any
such dividend or distribution, to a date immediately following the close of
business on the record date for the determination of holders of Common Stock
entitled to receive such dividend or distribution or (y) in the case of
any such subdivision, combination or reclassification, to the close of business
on the day upon which such corporate action becomes effective.

 

(B)          Certain Distributions.  In case the Corporation shall at any time or
from time to time, prior to conversion of shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A, distribute to all holders of shares
of the Common Stock (including any such distribution made in connection with a
merger or consolidation in which the Corporation is the resulting or surviving
entity and the Common Stock is not changed or exchanged) cash, evidences of
indebtedness of the Corporation or another issuer, securities of the
Corporation or another issuer or other assets (excluding cash dividends in
which holders of shares of 6% Mandatory Convertible Cumulative Preferred Stock,
Series A participate; dividends payable in shares of Common Stock for
which adjustment is made under another subparagraph of this paragraph (d); or
the issuance by another entity of capital stock in consideration of an
acquisition that also provides adequate consideration to the holders of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A approved by the
Board of Directors) or rights or warrants to subscribe for or purchase of any
of the foregoing, then, and in each such case, the Conversion Rate then in
effect shall be adjusted (and any other appropriate actions shall be taken by
the Corporation) by multiplying the Conversion Rate in effect immediately prior
to the date of such distribution by a fraction (x) the denominator of
which shall be the then current market price of the Common Stock immediately
prior to the date of distribution less the then fair market value (as
determined by the Board of Directors in the exercise of their fiduciary duties)
of the portion of the cash, evidences of indebtedness, securities or other
assets so distributed or of such rights or warrants

 

6

 

applicable to one share of
Common Stock and (y) the numerator of which shall be the then current market
price of the Common Stock immediately prior to the date of distribution (but
such fraction shall not be applicable with respect to any distribution of
rights or warrants to subscribe for or purchase securities of the Corporation
if the holder of shares of 6% Mandatory Convertible Cumulative Preferred Stock,
Series A would otherwise be entitled to receive such rights or warrants
upon conversion at any time of shares of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A into Common Stock.  Such adjustment shall be made whenever any
such distribution is made and shall become effective retroactively to a date
immediately following the close of business on the record date for the
determination of shareholders entitled to receive such distribution.

 

(C)          No Adjustment.  Notwithstanding anything herein to the
contrary, no adjustment under this paragraph (d)(4) need be made to the
Conversion Rate if the Corporation receives written notice from holders of a
majority of the outstanding shares of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A that no such adjustment is required.

 

(5)           Abandonment.  If the Corporation shall take a record of the
holders of its Common Stock for the purpose of entitling them to receive a
dividend or other distribution, and shall thereafter and before the
distribution to shareholders thereof legally abandon its plan to pay or deliver
such dividend or distribution, then no adjustment in the Conversion Rate shall
be required by reason of the taking of such record.

 

(6)           Certificate as to Adjustments.  Upon any adjustment in the Conversion Rate,
the Corporation shall maintain a detailed record of any and all such
adjustments setting forth in reasonable detail the event requiring the
adjustment and the method by which such adjustment was calculated and
specifying the increased or decreased Conversion Rate then in effect following
such adjustment.

 

(7)           Reorganization, Reclassification.  In case of any merger or consolidation of the
Corporation or any capital reorganization, reclassification or other change of
outstanding shares of Common Stock (other than a change in par value, or from
par value to no par value, or from no par value to par value) (each, a “Transaction”),
the holder of each share of 6% Mandatory Convertible Cumulative Preferred
Stock, Series A shall have the right to receive in such Transaction, in
exchange for each share of 6% Mandatory Convertible Cumulative Preferred Stock,
Series A, a security identical to (and not less favorable than) the 6%
Mandatory Convertible Cumulative Preferred Stock, Series A, and provision
shall be made therefor in the agreement, if any, relating to such Transaction.

 

(8)           Reservation of Common Stock.  The Corporation shall at all times reserve
and keep available for issuance upon the conversion of shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A, such number of its
authorized but unissued shares of Common Stock as will from time to time be
sufficient to permit the conversion of all outstanding shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A, and shall take all
action to increase the authorized number of shares of Common Stock if at any
time there shall be insufficient authorized but unissued shares of Common Stock
to permit such reservation or to permit the conversion of all outstanding

 

7

 

shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A; provided, that the
holders of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
shall vote such shares in favor of any such action that requires a vote of
shareholders.

 

(9)           No Conversion Tax or Charge.  The issuance or delivery of certificates for
Common Stock upon the conversion of shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A shall be made without charge to the
converting holder of shares of 6% Mandatory Convertible Cumulative Preferred
Stock, Series A for such certificates or for any tax in respect of the
issuance or delivery of such certificates or the securities represented
thereby, and such certificates shall be issued or delivered in the respective
names of, or (subject to compliance with the applicable provisions of federal
and state securities laws) in such names as may be directed by, the holders
of  the shares of 6% Mandatory
Convertible Cumulative Preferred Stock, Series A converted; provided,
however, that the Corporation shall not be required to pay any tax which may be
payable in respect of any transfer involved in the issuance and delivery of any
such certificate in a name other than that of the holder of the shares of 6%
Mandatory Convertible Cumulative Preferred Stock, Series A converted, and
the Corporation shall not be required to issue or deliver such  certificate unless or until the person(s) or
entity(ies) requesting the issuance or delivery thereof shall have paid to the
Corporation the amount of such tax or shall have established to the reasonable
satisfaction of the Corporation that such tax has been paid.

 

(e)           Liquidation Rights.  In the event of a voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, the holders of
shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
shall be entitled to receive out of the assets of the Corporation, whether such
assets are capital or surplus of any nature, an amount equal to $5.00 per share
of 6% Mandatory Convertible Cumulative Preferred Stock, Series A and a
further amount equal to any dividends accrued and unpaid thereon, as provided
in paragraph (c) above, to the date that payment is made available to the
holders of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A,
whether declared or not, and no more, before any payment shall be made or any
assets distributed to the holders of shares of the Corporation’s Common Stock
or any of the shares of the Corporation’s Preferred Stock that have a
liquidation rights preference over the 6% Mandatory Convertible Cumulative
Preferred Stock, Series A..

 

If, upon such liquidation, dissolution or winding up, the assets thus
distributed among the holders of shares of 6% Mandatory Convertible Cumulative
Preferred Stock, Series A shall be insufficient to permit the payment to
such shareholders of the full preferential amounts aforesaid, then the entire
assets of the Corporation to be distributed shall be distributed ratably among
the holders of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A.

 

In
the event of any voluntary or involuntary liquidation, dissolution or winding
up of the Corporation, subject to all of the preferential rights of the holders
of shares of 6% Mandatory Convertible Cumulative Preferred Stock, Series A
and the preferential rights of holders any of the other shares of the
Corporation’s Preferred Stock on distribution or otherwise, the holders of
shares of the Corporation’s Common Stock shall be entitled to receive, ratably,
all remaining assets of the Corporation.

 

8

 

A
consolidation or merger of the Corporation with or into any other corporation
or corporations, or a sale of all or substantially all of the assets of the
Corporation, shall not be deemed to be a liquidation, dissolution or winding up
within the meaning of this paragraph (e).

 

(f)           Right of Redemption.

 

(1)           The shares of the 6% Mandatory
Convertible Cumulative Preferred Stock, Series A are not redeemable at the
option of the holder.

 

(2)           The shares of the 6% Mandatory
Convertible Cumulative Preferred Stock, Series A are redeemable at the
option of the Corporation, subject to prior approval of the Board of Governors
of the Federal Reserve System, at a price of $5.25 per share plus all outstanding
and unpaid dividends with at least ten (10) days’ prior notice of
redemption.

 

(g)          No Preemptive Rights.  The shares of 6% Mandatory Convertible
Cumulative Preferred Stock, Series A shall not have any preemptive rights.

 

RESOLVED
FURTHER, that the Chairman of the Board, the President or any Vice President,
and the Secretary, the Chief Financial Officer, the Treasurer, or any Assistant
Secretary or Assistant Treasurer of the Corporation are each authorized to
execute, verify and file a Certificate of Determination in accordance with
California law.

 

4.                                       The authorized
number of shares of Preferred Stock of the Corporation is 10,000,000, and the
number of shares of Preferred Stock constituting the 6% Mandatory Convertible
Cumulative Preferred Stock, Series A, none of which has been issued, is 240,000.

 

We
further declare under penalty of perjury under the laws of the State of
California that the matters set forth in this certificate are true and correct
of our own knowledge.

 

Date:  December 22,
2009

 

	
   

  	
   

  
	
   

  	
  Name:  

  	
  Gayle J. Lee

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:  

  	
  John F. Coger

  
	
   

  	
  Title: 

  	
  EVP/Chief Financial
  Officer

  

 

9

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