Document:

Exhibit
10.2

 

CHANGE
IN CONTROL AGREEMENT

 

This
Change in Control Agreement (the “Agreement”) is made and entered into by and between Suping Liu Cheung (“Executive”)
and Marrone Bio Innovations, Inc., a Delaware corporation (the “Company”), effective as of Executive’s first
date of employment by the Company (the “Effective Date”).

 

RECITALS

 

1.
It is expected that the Company from time to time will consider the possibility of an acquisition by another company or other
change in control. The Board of Directors of the Company (the “Board”) recognizes that such consideration can be a
distraction to Executive and can cause Executive to consider alternative employment opportunities. The Board has determined that
it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication
and objectivity of Executive, notwithstanding the possibility, threat or occurrence of a Change in Control (as defined herein)
of the Company.

 

2.
The Board believes that it is in the best interests of the Company and its stockholders to provide Executive with an incentive
to continue his or her employment and to motivate Executive to maximize the value of the Company upon a Change in Control for
the benefit of its stockholders.

 

3.
The Board believes that it is imperative to provide Executive with certain severance benefits upon Executive’s termination
of employment following a Change in Control. The severance benefits will provide Executive with enhanced financial security and
incentive and encouragement to remain with the Company notwithstanding the possibility of a Change in Control.

 

4.
Certain capitalized terms used in the Agreement are defined on Exhibit A hereto.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1.
At-Will Employment. The Company and Executive acknowledge that Executive’s employment is and will continue to be
at-will, as defined under applicable law.

 

2.
Severance Benefits.

 

(a)
Involuntary Termination In Connection with a Change in Control. If (i) Executive terminates his or her employment with
the Company (or any parent, subsidiary or successor of the Company) for Good Reason (as defined herein) or (ii) the Company (or
any parent, subsidiary or successor of the Company) terminates Executive’s employment without Cause (as defined herein),
and either such termination is In Connection with a Change in Control, Executive will receive the following severance benefits
from the Company, provided that Executive signs and does not revoke the release as required by Section 3(a) and complies with
the covenants set forth in Sections 3(b)-(d):

 

    	 

    	 

    

 

(i)
Severance Payment. Executive will receive a single lump sum severance payment (less applicable withholding taxes) in an
amount equal to twelve (12) months of Executive’s annual salary, determined at a rate equal to the greater of (A) Executive’s
annual salary as in effect immediately prior to the Change in Control, or (B) Executive’s then current annual salary as
of the date of such termination.

 

(ii)
Equity Awards. One hundred percent (100%) of Executive’s then outstanding and unvested Equity Awards as of the date
of Executive’s termination of employment will become vested, all restrictions and repurchase rights will lapse, all performance
goals or other vesting criteria will be deemed achieved at target levels and all other terms and conditions met. The Equity Awards
will otherwise remain subject to the terms and conditions of the applicable Equity Award agreement

 

(iii)
Bonus Payment. Executive will receive a single lump sum cash payment (less applicable withholding taxes) in an amount equal
to 20% of the Executive’s then-current base salary, prorated based on the percentage of the current year completed prior
to Executive’s termination.

 

(iv)
Benefits. If the Executive, and any spouse and/or dependents of the Executive (“Family Members”), has coverage
on the date of his or her termination under a group health plan sponsored by the Company, the Company agrees to pay for health
continuation coverage premiums for Executive and his or her Family Members at the same level of health coverage as in effect on
the day immediately preceding the date of termination; provided, however, that (1) Executive constitutes a qualified beneficiary,
as defined in Section 4980(B)(g)(1) of the Code; and (2) Executive elects continuation coverage pursuant to the COBRA, within
the time period prescribed pursuant to COBRA. The Company will pay such COBRA premiums to provide for continuation benefits on
behalf of the Executive and his or her Family Members for twelve (12) months following the date of his or her termination. Executive
will thereafter be responsible for the payment of COBRA premiums (including, without limitation, all administrative expenses)
for any remaining COBRA period. Notwithstanding the foregoing, in the event that the Company determines, in its sole discretion,
that the Company may be subject to a tax or penalty pursuant to Section 4980D of the Code as a result of providing some or all
of the payments described in this Section 2(a)(iv), the Company may reduce or eliminate its obligations under this Section 2(a)(iv)
to the extent it deems necessary, with no offset or other consideration required.

 

(b)
Timing of Severance Payments. Subject to Section 8 of this Agreement, the Company will pay or, as applicable, commence
payment of the cash severance payments to which Executive is entitled under this Agreement in accordance with Section 3 of this
Agreement.

 

(c)
Voluntary Resignation; Termination For Cause. If, at any time prior to or after a Change in Control, Executive’s
employment with the Company terminates (i) voluntarily by Executive (other than for Good Reason) or (ii) for Cause by the Company,
then Executive will not be entitled to receive severance or other benefits except for those (if any) as may then be established
under the Company’s then existing severance and benefits plans and practices or pursuant to other written agreements with
the Company, including, without limitation, any Equity Award agreement.

 

    	 

    	 

    

 

(d)
Disability; Death. If, at any time prior to or after a Change in Control, the Company terminates Executive’s employment
as a result of Executive’s Disability, or Executive’s employment terminates due to his or her death, then Executive
will not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company’s
then existing written severance and benefits plans and practices or pursuant to other written agreements with the Company, including,
without limitation, any Equity Award agreement.

 

(e)
Exclusive Remedy; Effect of Other Agreements.

 

(i)
The provisions of this Agreement supersede and the provisions of the Original Offer Letter as to any matters expressly covered
by this Agreement. The provisions of the Original Offer Letter shall continue to apply as to any matters not expressly covered
by this Agreement.

 

(ii)
Except as provided in subsection (e)(i) above, (A) the provisions of this Section 2 are intended to be and are exclusive and in
lieu of any other rights or remedies to which Executive or the Company may otherwise be entitled, whether at law, tort or contract,
in equity, or under this Agreement and (B) Executive will be entitled to no benefits, compensation or other payments or rights
upon termination of employment, other than those benefits expressly set forth in this Section 2 or as may be provided in any Equity
Award.

 

(iii)
The Executive acknowledges and agrees that, except as expressly in this Section 2, the Executive does not have, is not eligible
for, entitled to, and shall not receive (i) any other compensation or benefits except to the extent provided by the Board, (ii)
any further stock options or other equity grants or awards or (iii) any further rights, title or interest in or to (A) the Company
or any Subsidiary or (B) any of their respective businesses, properties or assets.

 

3.
Conditions to Receipt of Severance; Additional Obligations.

 

(a)
Release. The receipt of any severance or other benefits pursuant to Section 2 will be subject to Executive signing and
not revoking a release of claims agreement in a form reasonably acceptable to the Company, and such release becoming effective
and irrevocable within sixty (60) days of Executive’s termination or such earlier deadline required by the release (such
deadline, the “Release Deadline”). No severance or other benefits will be paid or provided until the release of claims
agreement becomes effective and irrevocable, and any severance amounts or benefits otherwise payable between the date of Executive’s
termination and the date such release becomes effective shall be paid on the effective date of such release. Notwithstanding the
foregoing, and subject to the release becoming effective and irrevocable by the Release Deadline, any severance payments or benefits
under this Agreement that would be considered Deferred Compensation Separation Benefits (as defined in Section 8(a)) shall be
paid on the sixtieth (60th) day following Executive’s “separation from service” within the meaning of Section
409A of the Code, or, if later, such time as required by Section 8(a). If the release does not become effective by the Release
Deadline, Executive will forfeit all rights to severance payments and benefits under this Agreement.

 

    	 

    	 

    

 

(b)
Non-Solicitation. Executive agrees that, while Executive is employed by the Company and for one (1) year thereafter, Executive
shall not, in any capacity, whether for his or her own account or on behalf of any other person or organization, directly or indirectly,
with or without compensation, (a) solicit, divert or encourage any officers, directors, employees, agents, consultants or representatives
of the Company (including any subsidiary), to terminate his, her or its relationship with the Company (including any subsidiary),
(b) hire any such officer, director, employee, consultant or representative so solicited, diverted or encouraged, (c) solicit,
divert or encourage any officers, directors, employees, agents, consultants or representatives of the Company (including any subsidiary)
to become officers, directors, employees, agents, consultants or representatives of another business, enterprise or entity, or
(d) hire any employee of the Company (including any subsidiary) who has left the employment of the Company (including any subsidiary)
(other than as a result of the termination of such employee’s employment by the Company (including any subsidiary)) within
9 months of termination of such employee’s employment; provided, that solicitations incidental to general advertising or
other general solicitations in the ordinary course not specifically targeted at such persons and employment of any person not
otherwise solicited in violation hereof shall not be considered a violation of this Section 3(b). In addition, the Executive shall
not be in violation of this Section 3(b) solely by providing a reference for a former employee of the Company.

 

(c)
Non-Disparagement.

 

(i)
Executive agrees that, while Executive is employed by the Company and for two (2) years thereafter, Executive shall not, directly
or indirectly, (A) make any statement, whether in commercial or non-commercial speech, disparaging or criticizing in any way the
Company or any of its subsidiaries or affiliates, or any products or services offered by any of these entities, or (B) engage
in any other conduct or make any other statement that, in each case, should reasonably be expected to impair the goodwill or reputation
of the Company; provided, however, that nothing herein or elsewhere shall prevent Executive from making truthful disclosures or
statements (x) reasonably necessary in connection with any litigation, arbitration or mediation or (y) as required by law or by
any court, arbitrator, governmental body or other person with apparent authority to require such disclosures or statements.

 

(ii)
While Executive is employed by the Company and for two (2) years thereafter, no executive officer of the Company with the title
of Senior Vice President and above shall, directly or indirectly, individually or in concert with others, engage in any conduct
or make any statement, calculated or likely to have the effect of undermining, disparaging or otherwise reflecting poorly upon
Executive; provided, however, that nothing herein or elsewhere shall prevent such individual from making truthful disclosures
or statements (x) reasonably necessary in connection with any litigation, arbitration or mediation or (y) as required by law or
by any court, arbitrator, governmental body or other person with apparent authority to require such disclosures or statements.

 

    	 

    	 

    

 

(d)
Confidentiality Agreement. The Executive acknowledges and agrees that his obligations under the Confidentiality Agreement
shall continue in full force and effect, including after the Termination Date. Executive’s receipt of any payments or benefits
under Section 2 will be subject to (i) Executive continuing to comply with the terms of any form of confidential information agreement
(d) (ii) on Termination Date, the Executive shall have surrendered to the Company (or, in accordance with the Termination Certificate,
shall have deleted or destroyed) the personal property of the Company in Executive’s possession or control.

 

(e)
No Duty to Mitigate. Executive will not be required to mitigate the amount of any payment contemplated by this Agreement,
nor will any earnings that Executive may receive from any other source reduce any such payment.

 

4.
Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise
payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) but
for this Section 4, would be subject to the excise tax imposed by Section 4999 of the Code, then Executive’s severance benefits
under Section 2 will be either:

 

(a)
delivered in full, or

 

(b)
delivered as to such lesser extent which would result in no portion of such severance benefits being subject to excise tax under
Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local income
taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount
of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of
the Code. Unless the Company and Executive otherwise agree in writing, any determination required under this Section 4 will be
made in writing by the Company’s independent public accountants immediately prior to a Change in Control or a “Big
Four” national accounting firm selected by the Company (the “Accountants”), whose determination will be conclusive
and binding upon Executive and the Company for all purposes in the absence of manifest error. The Accountants shall provide Executive
with a written report of its determinations hereunder, including reasonably detailed supporting calculations.. For purposes of
making the calculations required by this Section 4, the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of
the Code. The Company and Executive will furnish to the Accountants such information and documents as the Accountants may reasonably
request in order to make a determination under this Section. The Company will bear all costs the Accountants may reasonably incur
in connection with any calculations contemplated by this Section 4. Any reduction in payments and/or benefits required by this
Section 4 shall occur in a manner necessary to provide Executive with the greatest economic benefit. If more than one manner of
reduction of payments or benefits yields the greatest economic benefit, the payments and benefits shall be reduced pro rata. In
no event will Executive exercise any discretion with respect to the ordering of any reduction of payments or benefits pursuant
to this Section 4.

 

    	 

    	 

    

 

5.
Successors.

 

(a)
Company Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company’s business and/or assets will assume the obligations
under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent
as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement,
the term “Company” will include any successor to the Company’s business and/or assets which executes and delivers
the assumption agreement described in this Section 5(a) or which becomes bound by the terms of this Agreement by operation of
law.

 

(b)
Executive’s Successors. The terms of this Agreement and all rights of Executive hereunder will inure to the benefit
of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees.

 

6.
Notice.

 

(a)
General. Notices and all other communications contemplated by this Agreement will be in writing and will be deemed to have
been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage
prepaid. In the case of Executive, mailed notices will be addressed to him or her at the home address which he or she most recently
communicated to the Company in writing. In the case of the Company, mailed notices will be addressed to its corporate headquarters,
and all notices will be directed to the attention of the Company’s General Counsel.

 

(b)
Notice of Termination. Any termination by the Company for Cause or by Executive for Good Reason or as a result of a voluntary
resignation will be communicated by a notice of termination to the other party hereto given in accordance with Section 6(a)
of this Agreement. Such notice will indicate the specific termination provision in this Agreement relied upon, will set forth
in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated,
and will specify the termination date. The failure by Executive to include in the notice any fact or circumstance which contributes
to a showing of Good Reason will not waive any right of Executive hereunder or preclude Executive from asserting such fact or
circumstance in enforcing his or her rights hereunder.

 

7.
Arbitration. The Company and Executive each agree that any and all disputes arising out of the terms of this Agreement,
Executive’s employment by the Company, Executive’s service as an officer or director of the Company, or Executive’s
compensation and benefits, their interpretation and any of the matters herein released, will be subject to binding arbitration.
In the event of a dispute, the parties (or their legal representatives) will promptly confer to select a single arbitrator mutually
acceptable to both parties. If the parties cannot agree on an arbitrator, then the moving party may file a demand for arbitration
with the Judicial Arbitration and Mediation Services (“JAMS”) in San Francisco County, California, who will be selected
and appointed consistent with the Employment Arbitration Rules and Procedures of JAMS (the “JAMS Rules”), except that
such arbitrator must have the qualifications set forth in this paragraph. Any arbitration will be conducted in a manner consistent
with the JAMS Rules, supplemented by the California Rules of Civil Procedure. The parties further agree that the prevailing party
in any arbitration will be entitled to injunctive relief in any court of competent jurisdiction to enforce the arbitration award.
The parties hereby agree to waive their right to have any dispute between them resolved in a court of law by a judge or jury.
This paragraph will not prevent either party from seeking injunctive relief (or any other provisional remedy) from any court having
jurisdiction over the parties and the subject matter of their dispute relating to Executive’s obligations under this Agreement
and the Company’s form of confidential information agreement. The Company agrees to pay all expenses of arbitration, including
JAMS administrative fees and artibtrator fees up to a cap of $10,000.

 

    	 

    	 

    

 

8.
Code Section 409A.

 

(a)
Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of Section 1.409A-2(b)(2)
of the Treasury Regulations. Notwithstanding anything to the contrary in this Agreement, no Deferred Compensation Separation Benefits
(as defined below) or other severance benefits that otherwise are exempt from Section 409A (as defined below) pursuant to Treasury
Regulation Section 1.409A-1(b)(9) will be considered due or payable until Executive has a “separation from service”
within the meaning of Section 409A of the Code, and the final regulations and any guidance promulgated thereunder (“Section
409A”). Further, if Executive is a “specified employee” within the meaning of Section 409A at the time of his
or her separation from service (other than due to Executive’s death), then the severance benefits payable to Executive under
this Agreement that are considered deferred compensation under Section 409A, if any, and any other severance payments or separation
benefits that are considered deferred compensation under Section 409A, if any (together, the “Deferred Compensation Separation
Benefits”) otherwise due to Executive on or within the six (6) month period following his or her separation from service
will accrue during such six (6) month period and will become payable in a lump sum payment (less applicable withholding taxes)
on the first payroll date that occurs on or after the date six (6) months and one (1) day following the date of Executive’s
separation from service. All subsequent payments of Deferred Compensation Separation Benefits, if any, will be payable in accordance
with the payment schedule applicable to each payment or benefit. If Executive dies following his or her separation from service
but prior to the six (6) month anniversary of his or her date of separation, then any payments delayed in accordance with this
paragraph will be payable in a lump sum (less applicable withholding taxes) to Executive’s estate as soon as administratively
practicable after the date of his or her death and all other Deferred Compensation Separation Benefits will be payable in accordance
with the payment schedule applicable to each payment or benefit.

 

(b)
The foregoing provisions are intended to comply with the requirements of Section 409A so that none of the severance payments and
benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein
will be interpreted to so comply. The Company and Executive agree to work together in good faith to consider amendments to this
Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional
tax or income recognition prior to actual payment to Executive under Section 409A.

 

    	 

    	 

    

 

9.
Miscellaneous Provisions.

 

(a)
Waiver. No provision of this Agreement will be modified, waived or discharged unless the modification, waiver or discharge
is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver
by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party will
be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(b)
Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a
part of this Agreement.

 

(c)
Choice of Law. The validity, interpretation, construction and performance of this Agreement will be governed by the laws
of the State of California (with the exception of its conflict of laws provisions).

 

(d)
Integration. This Agreement, together with the form of confidential information agreement and the standard forms of Equity
Award agreement that describe Executive’s outstanding Equity Awards (other than as such Equity Award agreements have been
revised pursuant to this Agreement), represents the entire agreement and understanding between the parties as to the subject matter
herein and supersedes all prior or contemporaneous agreements whether written or oral. With respect to Equity Awards granted on
or after the date of this Agreement, the acceleration of vesting provisions provided herein will apply to such Equity Awards except
to the extent otherwise explicitly provided in the applicable Equity Award agreement. No waiver, alteration, or modification of
any of the provisions of this Agreement will be binding unless in a writing and signed by duly authorized representatives of the
parties hereto. In entering into this Agreement, no party has relied on or made any representation, warranty, inducement, promise,
or understanding that is not in this Agreement. To the extent that any provisions of this Agreement conflict with those of any
other agreement between the Executive and the Company, the terms in this Agreement will prevail.

 

(e)
Severability. In the event that any provision or any portion of any provision hereof becomes or is declared by a court
of competent jurisdiction to be illegal, unenforceable, or void, this Agreement will continue in full force and effect without
said provision or portion of provision. The remainder of this Agreement shall be interpreted so as best to effect the intent of
the Company and Executive.

 

(f)
Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment
taxes.

 

(g)
Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which
together will constitute one and the same instrument.

 

(Remainder
of page intentionally left blank)

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as
of the day and year set forth below.

 

	MARRONE
    BIO INNOVATIONS, INC.	 	
	 	 	 
	/s/
    Linda V. Moore	 	/s/
    Sue Cheung
	Linda
    V. Moore	 	Signature
	 	 	 
	EVP
    and General Counsel	 	EMPLOYEE:
    Suping Liu Cheung
	 	 	 
	01/26/2021	 	01/25/2021
	Date	 	Date

 

    	 

    	 

    

 

EXHIBIT
A

 

DEFINITIONS

 

“Board”
shall mean the Company’s Board of Directors.

 

“Cause”
shall mean a determination by the Board that the Executive has (i) committed a material breach of this Agreement or any other
material written policy of the Company, which breach is not cured to the satisfaction of the Board within fifteen days after written
notice of such breach is provided to the Executive from the Board, (ii) failed to substantially perform the Executive’s
duties to the Company (under this Agreement or otherwise), which failure is not cured to the satisfaction of the Board within
fifteen days after written notice of such failure is provided to the Executive from the Board, (iii) failed to follow a reasonable
and lawful policy or directive of the Board, which failure is not cured to the satisfaction of the Board within fifteen days after
written notice of such failure is provided to the Executive from the Board, (iv) been indicted for any felony or convicted of
a crime involving dishonesty or physical harm to any person, (v) engaged in dishonesty, unethical conduct, gross negligence or
willful misconduct in the performance of his/her duties to the Company which has resulted in, or is reasonably expected to result
in, material injury to the business or reputation of the Company, (vi) engaged in conduct which constitutes a material violation
of federal or state law relating to the Company or its business, (vii) misappropriated assets of the Company, or (viii) been under
the influence of alcohol or illegal drugs (or has engaged in abusive use of legal drugs) in performing his or her duties to the
Company (which the Board has determined has materially adversely affected the Executive’s performance of his/her duties
to the Company).

 

“Change
in Control” shall mean any of the following transactions, provided, however, that the Company shall determine under
parts (iii) and (iv) whether multiple transactions are related, and its determination shall be final, binding and conclusive:

 

(i)
a merger or consolidation in which the Company is not the surviving entity, except for a transaction the principal purpose of
which is to change the state in which the Company is incorporated; or

 

(ii)
the sale, transfer or other disposition of all or substantially all of the assets of the Company; or

 

(iii)
any reverse merger or series of related transactions culminating in a reverse merger (including, but not limited to, a tender
offer followed by a reverse merger) in which the Company is the surviving entity but (A) the shares of Company common stock outstanding
immediately prior to such merger are converted or exchanged by virtue of the merger into other property, whether in the form of
securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting
power of the Company’s outstanding securities are transferred to a person or persons different from those who held such
securities immediately prior to such merger or the initial transaction culminating in such merger, but excluding any such transaction
or series of related transactions that the Company determines shall not be a Change in Control; or

 

    	 

    	 

    

 

(iv)
acquisition in a single or series of related transactions by any person or related group of persons (other than the Company or
by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of
securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities
but excluding any such transaction or series of related transactions that the Company determines shall not be a Change in Control.

 

provided
that any such transaction must also constitute a “change in the ownership or effective control, or in the ownership of a
substantial portion of the assets” (as defined in Section 409A) of the Company.

 

“Confidentiality
Agreement” shall mean Employee Confidential Information and Assignment of Inventions Agreement, dated as of the first
date of Executive’s employment by Company between the Executive and the Company.

 

“Disability”
shall mean total and permanent disability as defined in Section 22(e)(3) of the Code.

 

“Equity
Award” shall mean each then outstanding award under a Stock Plan relating to the Company’s common stock (whether
stock options, stock appreciation rights, shares of restricted stock, restricted stock units, performance shares, performance
units or other similar awards).

 

“Good
Reason” shall mean the occurrence of any of the following, without Executive’s express written consent:

 

(i)
A material reduction of Executive’s authority, duties or responsibilities, taken as a whole;

 

(ii)
A reduction in Executive’s base compensation;

 

(iii)
A material change in the geographic location at which Executive must perform his or her services; provided that in no instance
will the relocation of Executive to a facility or a location of fifty (50) miles or less from Executive’s then current office
location be deemed material for purposes of this Agreement;

 

(iv)
failure of the Company to obtain the assumption of this Agreement by any successor to the Company; or

 

(v)
any material breach or material violation of a material provision of this Agreement by the Company (or any successor to the Company);

 

provided,
that the foregoing events shall constitute “Good Reason” only if (i) Executive terminates his or her employment within
60 days of the occurrence of such event and (ii) the Executive has provided the Company with written notice of such event within
10 days after the event occurs and the Company fails to remedy such event within 15 days after first receiving such written notice.

 

“In
Connection with a Change in Control”. A termination of Executive’s employment will be “in Connection with
a Change in Control” if Executive’s employment terminates at any time on or within twelve (12) months following a
Change in Control.

 

“MBI
Parties” shall mean (i) the Company, (ii) each Subsidiary, (iii) any successor to the Company, and (iv) each of their
respective current and former officers, directors, affiliates, attorneys, agents, employees and representatives

 

“Original
Offer Letter” shall mean the letter agreement between the Company and the Executive dated as of January 7, 2021.Document

DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934
As of December 31, 2020, NeuroMetrix, Inc. had three classes of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”):  (i) common stock, $0.0001 par value per share (“Common Stock”); (ii) rights to purchase shares of preferred stock, par value $0.001 per share (“Preferred Stock Purchase Rights”), and (iii) warrants to purchase Common Stock.
Unless the context otherwise requires, all references to “we”, “us”, the “Company”, or “NeuroMetrix” in this Exhibit 4.1 refer to NeuroMetrix, Inc.
DESCRIPTION OF CAPITAL STOCK
The following description of our securities is intended as a summary only and is qualified in its entirety by reference to our amended and restated certificate of incorporation, amended and restated bylaws, and shareholder rights agreement, as amended, which are filed as exhibits to the annual report on Form 10-K of which this Exhibit 4.1 is a part.  We refer in this section to our amended and restated certificate of incorporation as our certificate of incorporation, and we refer to our amended and restated bylaws as our bylaws.
Authorized Capitalization
Our authorized capital stock consists of 25,000,000 shares of Common Stock and 5,000,000 shares of preferred stock, $0.001 par value per share (“Preferred Stock”) in one or more series.  As of December 31, 2020, we had outstanding 3,784,657 shares of our Common Stock and 200 shares of our Series B Convertible Preferred Stock.  At that date, we also had an aggregate of 361,956 shares of Common Stock reserved for issuance upon exercise of outstanding stock options granted under our stock incentive plans.
Transfer Agent and Registrar.  The transfer agent for our Common Stock and outstanding shares of Preferred Stock is American Stock Transfer & Trust Company.
Listing. Our Common Stock is traded on the Nasdaq Capital Market under the symbol “NURO” and our warrants to purchase shares of Common Stock are listed under the symbol “NUROW” on the Nasdaq Capital Market. 
Common Stock
The holders of our Common Stock are generally entitled to one vote for each share held on all matters submitted to a vote of the stockholders and do not have any cumulative voting rights.  Except as may be required by law and in connection with some significant actions, such as mergers, consolidations, or amendments to our certificate of incorporation that affect the rights of stockholders, holders of our Common Stock vote together as a single class.  There is no cumulative voting in the election of our directors, which means that, subject to any rights to elect directors that are granted to the holders of any class or series of Preferred Stock, a plurality of the votes cast at a meeting of stockholders at which a quorum is present is sufficient to elect a director.  Holders of our Common Stock are entitled to receive proportionally any dividends declared by our Board of Directors, subject to any preferential dividend rights of outstanding Preferred Stock.
Subject to the preferential rights of any other class or series of stock, all shares of our Common Stock have equal dividend, distribution, liquidation and other rights, and have no preference, appraisal or exchange rights, except for any appraisal rights provided by Delaware law.  Furthermore, holders of our Common Stock have no conversion, sinking fund or redemption rights, or preemptive rights to subscribe for any of our securities.  Our certificate of incorporation and bylaws do not restrict the ability of a holder of our Common Stock to transfer his or her shares of our Common Stock.

In the event of our liquidation or dissolution, holders of our Common Stock are entitled to share ratably in all assets remaining after payment of all debts and other liabilities, subject to the prior rights of any outstanding Preferred Stock.  Holders of our Common Stock have no preemptive, subscription, sinking fund, redemption, exchange or conversion rights.  The Common Stock, when issued, will be duly authorized, fully paid and nonassessable.
Preferred Stock
Pursuant to our certificate of incorporation, we are authorized to issue “blank check” Preferred Stock, which may be issued from time to time in one or more series upon authorization by our Board of Directors.  Our Board of Directors, without further approval of the stockholders, is authorized to fix the designations, powers, including voting powers, preferences and the relative, participating, optional or other special rights of the shares of each series and any qualifications, limitations and restrictions thereof.  The issuance of Preferred Stock, while providing flexibility in connection with possible acquisitions and other corporate purposes could, among other things, adversely affect the voting power or other rights of the holders of our Common Stock and, under certain circumstances, make it more difficult for a third party to gain control of us, discourage bids for our Common Stock at a premium or otherwise adversely affect the market price of the Common Stock.
The Preferred Stock will have the terms described below unless otherwise provided in the prospectus supplement relating to a particular series of the Preferred Stock. You should read the prospectus supplement relating to the particular series of the Preferred Stock being offered for the specific terms of that series, including:
▪the designation and stated value per share of the Preferred Stock and the number of shares offered;
▪the amount of liquidation preference per share, if any;
▪the price at which the Preferred Stock will be issued;
▪the dividend rate, or method of calculation of the dividend rate, if any, the dates on which dividends will be payable, whether dividends will be cumulative or noncumulative and, if cumulative, the dates from which dividends will commence to accumulate;
▪any redemption or sinking fund provisions;
▪if other than the currency of the United States, the currency or currencies, including composite currencies, in which the Preferred Stock is denominated and/or in which payments will or may be payable;
▪any conversion provisions; and
▪any other rights, preferences, privileges, limitations and restrictions on the Preferred Stock.
The Preferred Stock will, when issued, be duly authorized, fully paid and nonassessable. Unless otherwise specified in the applicable prospectus supplement, each series of the Preferred Stock will rank equally as to dividends and liquidation rights in all respects with each other series of Preferred Stock. The rights of holders of shares of each series of Preferred Stock will be subordinate to those of our general creditors.
Rank.  Unless otherwise specified in the applicable prospectus supplement, the Preferred Stock, with respect to dividend rights and rights upon our liquidation, dissolution or winding up our affairs, ranks:
▪senior to all classes or series of our Common Stock and to all equity securities ranking junior to such Preferred Stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up our affairs;
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▪on a parity with all equity securities issued by us, the terms of which specifically provide that such equity securities rank on a parity with the Preferred Stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up of our affairs; and
▪junior to all equity securities issued by us, the terms of which specifically provide that such equity securities rank senior to the Preferred Stock with respect to dividend rights or rights upon our liquidation, dissolution or winding up of our affairs.
The term “equity securities” does not include convertible debt securities.
Dividends.  Holders of the Preferred Stock of each series will be entitled to receive, when, as and if declared by our board of directors, cash dividends at such rates and on such dates descripted in the applicable prospectus supplement.  Different series of Preferred Stock may be entitled to dividends at different rates or based on different methods of calculation.  The dividend rate may be fixed or variable or both.  Dividends will be payable to the holders of record as they appear on our stock books on record dates fixed by our board of directors, as specified in the applicable prospectus supplement.
Dividends on any series of the Preferred Stock may be cumulative or noncumulative, as described in the applicable prospectus supplement.  If our board of directors does not declare a dividend payable on a dividend payment date on any series of noncumulative Preferred Stock, then the holders of that noncumulative Preferred Stock will have no right to receive a dividend for that dividend payment date, and we will have no obligation to pay the dividend accrued for that period, whether or not dividends on that series are declared payable on any future dividend payment dates.  Dividends on any series of cumulative Preferred Stock will accrue from the date we initially issue shares of such series or such other date specified in the applicable prospectus supplement.
No full dividends may be declared or paid or funds set apart for the payment of any dividends on any parity securities unless dividends have been paid or set apart for payment on the Preferred Stock.  If full dividends are not paid, the Preferred Stock will share dividends pro rata with the parity securities.
No dividends may be declared or paid or funds set apart for the payment of dividends on any junior securities unless full cumulative dividends for all dividend periods terminating on or prior to the date of the declaration or payment will have been paid or declared and a sum sufficient for the payment set apart for payment on the Preferred Stock.
Liquidation Preference.  Upon any voluntary or involuntary liquidation, dissolution or winding up of our affairs, then, before we make any distribution or payment to the holders of any Common Stock or any other class or series of our capital stock ranking junior to the Preferred Stock in the distribution of assets upon any liquidation, dissolution or winding up of our affairs, the holders of each series of Preferred Stock shall be entitled to receive out of assets legally available for distribution to stockholders, liquidating distributions in the amount of the liquidation preference per share set forth in the applicable prospectus supplement, plus any accrued and unpaid dividends thereon.  Such dividends will not include any accumulation in respect of unpaid noncumulative dividends for prior dividend periods.  Unless otherwise specified in the applicable prospectus supplement, after payment of the full amount of their liquidating distributions, the holders of Preferred Stock will have no right or claim to any of our remaining assets.  Upon any such voluntary or involuntary liquidation, dissolution or winding up, if our available assets are insufficient to pay the amount of the liquidating distributions on all outstanding Preferred Stock and the corresponding amounts payable on all other classes or series of our capital stock ranking on parity with the Preferred Stock and all other such classes or series of shares of capital stock ranking on parity with the Preferred Stock in the distribution of assets, then the holders of the Preferred Stock and all other such classes or series of capital stock will share ratably in any such distribution of assets in proportion to the full liquidating distributions to which they would otherwise be entitled.
Upon any liquidation, dissolution or winding up, and if we have made liquidating distributions in full to all holders of Preferred Stock, we will distribute our remaining assets among the holders of any other classes or series of capital stock ranking junior to the Preferred Stock according to their respective rights and preferences and, in each 
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case, according to their respective number of shares.  For such purposes, our consolidation or merger with or into any other corporation, trust or entity, or the sale, lease or conveyance of all or substantially all of our property or business will not be deemed to constitute a liquidation, dissolution or winding up of our affairs.
Redemption.  If so provided in the applicable prospectus supplement, the Preferred Stock will be subject to mandatory redemption or redemption at our option, as a whole or in part, in each case upon the terms, at the times and at the redemption prices set forth in such prospectus supplement.
The prospectus supplement relating to a series of Preferred Stock that is subject to mandatory redemption will specify the number of shares of Preferred Stock that shall be redeemed by us in each year commencing after a date to be specified, at a redemption price per share to be specified, together with an amount equal to all accrued and unpaid dividends thereon to the date of redemption.  Unless the shares have a cumulative dividend, such accrued dividends will not include any accumulation in respect of unpaid dividends for prior dividend periods.  We may pay the redemption price in cash or other property, as specified in the applicable prospectus supplement.  If the redemption price for Preferred Stock of any series is payable only from the net proceeds of the issuance of shares of our capital stock, the terms of such Preferred Stock may provide that, if no such shares of our capital stock shall have been issued or to the extent the net proceeds from any issuance are insufficient to pay in full the aggregate redemption price then due, such Preferred Stock shall automatically and mandatorily be converted into the applicable shares of our capital stock pursuant to conversion provisions specified in the applicable prospectus supplement.
Notwithstanding the foregoing, we will not redeem any Preferred Stock of a series unless:
▪if that series of Preferred Stock has a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full cumulative dividends on the Preferred Stock for the past and current dividend period; or
▪if such series of Preferred Stock does not have a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full dividends for the current dividend period.
In addition, we will not acquire any Preferred Stock of a series unless:
▪if that series of Preferred Stock has a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full cumulative dividends on all outstanding shares of such series of Preferred Stock for all past dividend periods and the then current dividend period; or
▪if that series of Preferred Stock does not have a cumulative dividend, we have declared and paid or contemporaneously declare and pay or set aside funds to pay full dividends on the Preferred Stock of such series for the then current dividend period.
However, at any time we may purchase or acquire Preferred Stock of that series (1) pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding Preferred Stock of such series or (2) by conversion into or exchange for shares of our capital stock ranking junior to the Preferred Stock of such series as to dividends and upon liquidation.
If fewer than all of the outstanding shares of Preferred Stock of any series are to be redeemed, we will determine the number of shares that may be redeemed pro rata from the holders of record of such shares in proportion to the number of such shares held or for which redemption is requested by such holder or by any other equitable manner that we determine.  Such determination will reflect adjustments to avoid redemption of fractional shares.
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Unless otherwise specified in the applicable prospectus supplement, we will mail notice of redemption at least 30 days but not more than 60 days before the redemption date to each holder of record of Preferred Stock to be redeemed at the address shown on our stock transfer books.  Each notice shall state:
▪the redemption date;
▪the number of shares and series of the Preferred Stock to be redeemed;
▪the redemption price;
▪the place or places where certificates for such Preferred Stock are to be surrendered for payment of the redemption price;
▪that dividends on the shares to be redeemed will cease to accrue on such redemption date;
▪the date upon which the holder’s conversion rights, if any, as to such shares shall terminate; and
▪the specific number of shares to be redeemed from each such holder if fewer than all the shares of any series are to be redeemed.
If notice of redemption has been given and we have set aside the funds necessary for such redemption in trust for the benefit of the holders of any shares so called for redemption, then from and after the redemption date, dividends will cease to accrue on such shares, and all rights of the holders of such shares will terminate, except the right to receive the redemption price.
Voting Rights.  Holders of Preferred Stock will not have any voting rights, except as described in the next paragraph, as otherwise from time to time required by law or as indicated in the applicable prospectus supplement.
Unless otherwise provided for any series of Preferred Stock, so long as any Preferred Stock of a series remains outstanding, we will not, without the affirmative vote or consent of the holders of at least two-thirds of the Preferred Stock of such series outstanding at the time, given in person or by proxy, either in writing or at a meeting with each of such series voting separately as a class:
▪authorize, or create, or increase the authorized or issued amount of, any class or series of shares of capital stock ranking senior to such series of Preferred Stock with respect to payment of dividends or the distribution of assets upon liquidation, dissolution or winding up, or reclassify any of our authorized shares of capital stock into such shares, or create, authorize or issue any obligation or security convertible into or evidencing the right to purchase any such shares; or
▪amend, alter or repeal the provisions of our restated certificate or the amendment to our certificate of incorporation designating the terms for such series of Preferred Stock, whether by merger, consolidation or otherwise, so as to materially and adversely affect any right, preference, privilege or voting power of such series of Preferred Stock or the holders thereof.
Notwithstanding the preceding bullet point, if the Preferred Stock remains outstanding with the terms thereof materially unchanged, the occurrence of any of the events described above shall not be deemed to materially and adversely affect the rights, preferences, privileges or voting power of holders of Preferred Stock, even if upon the occurrence of such an event we may not be the surviving entity.  In addition, any increase in the amount of (1) authorized Preferred Stock or the creation or issuance of any other series of Preferred Stock, or (2) authorized shares of such series or any other series of Preferred Stock, in each case ranking on parity with or junior to the Preferred Stock of such series with respect to payment of dividends or the distribution of assets upon liquidation, dissolution or winding up, shall not be deemed to materially and adversely affect such rights, preferences, privileges or voting powers.
The foregoing voting provisions will not apply if, at or prior to the time when the act with respect to which such vote would otherwise be required will be effected, we have redeemed or called for redemption all outstanding 
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shares of such series of Preferred Stock and, if called for redemption, have deposited sufficient funds in trust to effect such redemption.
Conversion Rights.  The terms and conditions, if any, upon which any series of Preferred Stock is convertible into Common Stock will be set forth in the applicable prospectus supplement relating thereto.  Such terms will include the number of shares of Common Stock into which the shares of Preferred Stock are convertible, the conversion price, rate or manner of calculation thereof, the conversion period, provisions as to whether conversion will be at our option or at the option of the holders of the Preferred Stock, the events requiring an adjustment of the conversion price and provisions affecting conversion in the event of the redemption.
Transfer Agent and Registrar.  The transfer agent and registrar for the Preferred Stock will be set forth in the applicable prospectus supplement.
Series B Convertible Preferred Stock Outstanding
As of December 31, 2020, we had 200 shares of our Series B Convertible Preferred Stock with a stated value of $100 outstanding.  The Series B Convertible Preferred Stock is convertible at the option of the holder into the number of shares of Common Stock determined by dividing the stated value by the adjusted conversion price of $333.30, which is subject to adjustment as provided in the Certificate of Designation for the Series B Preferred Stock, subject to a 9.99% ownership limitation.  The Series B Convertible Preferred Stock has no dividend rights, liquidation preference or other preferences over Common Stock and has no voting rights except as provided in the Certificate of Designation, as filed with the Secretary of State of the State of Delaware, or as otherwise required by law.  You should refer to the certificate of designation of preferences, rights and limitations of Series B Convertible Preferred Stock, which is included as exhibit to the annual report on Form 10-K.
Shareholder Rights Plan
    On March 7, 2007, we entered into a Rights Agreement with American Stock Transfer & Trust Company, as rights agent, and approved the declaration of a dividend distribution of one preferred share purchase right on each outstanding share of our Common Stock to shareholders of record as of the close of business on June 8, 2007. Each right entitles the registered holder to purchase from us 1.152 shares of our Series A Junior Convertible Preferred Stock at a price of $75.00, subject to adjustment. 
Initially, the rights are not exercisable and are attached to and trade with all shares of Common Stock outstanding as of, and issued subsequent to March 8, 2007. The rights will separate from the Common Stock and will become exercisable upon the earlier of (i) the close of business on the tenth calendar day following the first public announcement that a person or group of affiliated or associated persons, or an Acquiring Person, has acquired beneficial ownership of 15% or more of the outstanding shares of Common Stock, other than as a result of repurchases of stock by the Company or certain inadvertent actions by a shareholder or (ii) the close of business on the tenth business day (or such later day as our Board of Directors may determine) following the commencement of a tender offer or exchange offer that could result upon its consummation in a person or group becoming the beneficial owner of 15% or more of the outstanding shares of Common Stock.
The rights may be redeemed in whole, but not in part, at a price of $0.01 per right (payable in cash, Common Stock or other consideration deemed appropriate by our board) by the board only until the earlier of (i) the time at which any person becomes an Acquiring Person or (ii) the expiration date of the Rights Agreement. Immediately upon the action of the board ordering redemption of the rights, the rights will terminate and thereafter the only right of the holders of rights will be to receive the redemption price.
The rights will expire on March 8, 2022, unless previously redeemed or exchanged by the Company. The rights distribution was not taxable to stockholders.
The above summary of the Rights Agreement does not purport to be complete. You should refer to the Rights Agreement, as amended, which is included as an exhibit to the annual report on Form 10-K.
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Certain Effects of Authorized but Unissued Stock
We have shares of Common Stock and Preferred Stock available for future issuance without stockholder approval.  We may issue these additional shares for a variety of corporate purposes, including future public offerings to raise additional capital or facilitate corporate acquisitions or for payment as a dividend on our capital stock.  The existence of unissued and unreserved Common Stock and Preferred Stock may enable our board of directors to issue shares to persons friendly to current management or to issue Preferred Stock with terms that could render more difficult or discourage a third-party attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management.  In addition, if we issue Preferred Stock, the issuance could adversely affect the voting power of holders of Common Stock and the likelihood that such holders will receive dividend payments and payments upon liquidation.
Delaware Law and Certificate of Incorporation and Bylaws Provisions
Board of Directors.  Our certificate of incorporation provides that:
▪our Board of Directors is divided into three classes, as nearly equal in number as possible, to serve staggered terms so that approximately one-third of our board will be elected each year;
▪subject to the rights of the holders of any class or series of Preferred Stock then outstanding, our directors may be removed (i) only with cause and (ii) only by the affirmative vote of the holders of at least seventy-five percent (75%) of the voting power of all of the then outstanding shares then entitled to vote at an election of directors voting together as a single class, unless otherwise specified by law; and
▪any vacancy on our Board of Directors, however occurring, including a vacancy resulting from an enlargement of the board, may only be filled by vote of a majority of the directors then in office, even if less than a quorum, or by a sole remaining director, and not by the stockholders.
These provisions could discourage, delay or prevent a change in control of our company or an acquisition of our company at a price which many stockholders may find attractive.  The existence of these provisions could limit the price that investors might be willing to pay in the future for shares of our Common Stock.  These provisions may also have the effect of discouraging a third party from initiating a proxy contest, making a tender offer or attempting to change the composition or policies of our Board of Directors.
Stockholder Action; Special Meeting of Stockholders.  Our certificate of incorporation and bylaws also provide that:
▪stockholder action may be taken only at a duly called and convened annual or special meeting of stockholders and then only if properly brought before the meeting;
▪stockholder action may not be taken by written action in lieu of a meeting;
▪special meetings of stockholders may be called only by our Board of Directors pursuant to a resolution approved by the affirmative vote of a majority of the directors then in office; and
▪in order for any matter to be considered “properly brought” before a meeting, a stockholder must comply with requirements regarding specified information and advance notice to us.
These provisions could delay, until the next stockholders’ meeting, actions which are favored by the holders of a majority of our outstanding voting securities.  These provisions may also discourage another person or entity from making a tender offer for our Common Stock, because a person or entity, even if it acquired a majority of our outstanding voting securities, would be able to take action as a stockholder only at a duly called stockholders’ meeting, and not by written consent.
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Provisions of Delaware Law Governing Business Combinations.  We are subject to the “business combination” provisions of Section 203 of the Delaware General Corporation Law.  In general, such provisions prohibit a publicly held Delaware corporation from engaging in any “business combination” transactions with any “interested stockholder” for a period of three years after the date on which the person became an “interested stockholder,” unless:
▪prior to such date, the board of directors approved either the “business combination” or the transaction which resulted in the “interested stockholder” obtaining such status; or
▪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 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 by (a) persons who are directors and also officers and (b) 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
▪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 which is not owned by the “interested stockholder.”
A “business combination” is defined to include mergers, asset sales and other transactions resulting in financial benefit to a stockholder.  In general, an “interested stockholder” is a person who, together with affiliates and associates, owns 15% or more of a corporation’s voting stock or within three years did own 15% or more of a corporation’s voting stock.  The statute could prohibit or delay mergers or other takeover or change in control attempts with respect to us and, accordingly, may discourage attempts to acquire us.
Indemnification.  Our restated certificate provides that no director of our company shall be personally liable for any monetary damages for any breach of fiduciary duty as a director, except for liability (i) for any breach of the director’s duty of loyalty to the company or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the General Corporation Law of the State of Delaware, or (iv) for any transaction from which the director derived an improper personal benefit.  Our restated certificate also provides that if the General Corporation Law of the State of Delaware is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of our company shall be eliminated or limited to the fullest extent permitted by the General Corporation Law of the State of Delaware, as so amended.  The restated certificate further provides that no amendment to or repeal of these provisions shall apply to or have any effect on the liability or alleged liability of any director for or with respect to any acts or omissions of such director occurring prior to such amendment or repeal.  Our restated certificate further provides for the indemnification of our directors and officers to the fullest extent permitted by Section 145 of the Delaware General Corporation Law, including circumstances in which indemnification is otherwise discretionary.
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