Document:

Exhibit 4.1

 

SECOND AMENDED AND RESTATED

 

CERTIFICATE OF INCORPORATION

 

OF

 

CLEAR SECURE, INC.

 

* * * *

 

Clear Secure, Inc. is a corporation organized
and existing under the laws of the State of Delaware (the “Corporation”). The original Certificate of Incorporation
of the Corporation (the “Original Certificate”) was filed with the Secretary of State of the State of Delaware on
March 2, 2021. The First Amended and Restated Certificate of Incorporation of the Corporation (the “First A&R Certificate”),
which amended and restated the Original Certificate in its entirety, was filed with the Secretary of State of the State of Delaware on
April 8, 2021. This Second Amended and Restated Certificate of Incorporation of the Corporation (the “Certificate of Incorporation”),
which further amends and restates the First A&R Certificate in its entirety, has been duly adopted by the board of directors of the
Corporation (the “Board”) and the stockholders of the Corporation, pursuant to Sections 228, 242 and 245 of the General
Corporation Law of the State of Delaware, as the same now exists or may hereafter be amended and/or supplemented from time to time (the
 “DGCL”), to read as follows:

 

Article I.

 

Name

 

The name of the corporation is Clear Secure, Inc.
(the “Corporation”).

 

Article II.

 

Address; Registered Office and
Agent

 

The address of the Corporation’s registered
office in the State of Delaware is 251 Little Falls Drive, City of Wilmington, County of New Castle, State of Delaware 19808; and the
name of its registered agent at such address is Corporation Service Company.

 

Article III.

 

Purposes

 

The purpose of the Corporation is to engage in
any lawful act or activity for which a corporation may be organized under the DGCL. The Corporation is to have perpetual existence.

 

     

     

    

 

Article IV.

 

Capital Stock

 

A.            Definitions.
For purposes of this Certificate of Incorporation, reference to:

 

(1)            “Affiliate”
means, with respect to any Person, any other Person who or which, directly or indirectly, controls, is controlled by or is under common
control with such specified Person.

 

(2)            “Alclear
Unit” means a non-voting common interest unit of Alclear Holdings, LLC.

 

(3)            “Class C
Paired Interest” means one Alcear Unit together with one share of Class C Common Stock, subject to adjustment pursuant
to Section 2.03(a) of the Exchange Agreement.

 

(4)            “Class D
Paired Interest” means one Alclear Unit together with one share of Class D Common Stock, subject to adjustment pursuant
to Section 2.03(b) of the Exchange Agreement.

 

(5)            “Co-Founder”
means each of Caryn Seidman-Becker and Kenneth Cornick.

 

(6)            “Disability”
means, with respect to any Co-Founder, the permanent and total disability of such Co-Founder such that such Co-Founder is unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result
in death within 12 months or which has lasted or can be expected to last for a continuous period of not less than 12 months as determined
by a licensed medical practitioner jointly selected by a majority of the Board and such Co-Founder. If the Co-Founder is incapable of
selecting a licensed medical practitioner, then the spouse of such Co-Founder shall make the selection on behalf of such Co-Founder,
or in the absence or incapacity of such spouse or domestic partner, the adult children of such Co-Founder, by majority vote, shall make
the selection on behalf of such Co-Founder, or in the absence such adult children or their inability to act by majority vote, a natural
person then acting as the successor trustee of a revocable living trust which was created by such Co-Founder and which holds more shares
of all classes of capital stock of the Corporation than any other revocable living trust created by such Co-Founder, shall make the selection
on behalf of such Co-Founder, or in absence of any such successor trustee, the legal guardian or conservator of the estate of such Co-Founder
shall make the selection on behalf of such Co-Founder.

 

(7)            “Exchange
Agreement” means the Exchange Agreement, dated as of June 29, 2021, by and among the Founder Members, the Corporation
and the holders of Alclear Units and shares of Class C Common Stock and Class D Common Stock, as the same may be amended, restated,
supplemented or otherwise modified, from time to time.

 

(8)            “Family
Member” means, in respect of any Person, the spouse, domestic partner, parents, grandparents, lineal descendants, siblings
and lineal descendants of siblings of such Person (including adopted persons, former spouses or former domestic partners of such Person).

 

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(9)            “Founder
Members” means Alclear Investments, LLC and Alclear Investments II, LLC.

 

(10)          “Paired
Interest” means one Class C Paired Interest or one Class D Paired Interest.

 

(11)           “Permitted
Ownership Group” means, with respect to any Co-Founder, the following Persons: (i) such Co-Founder, (ii) such Co-Founder’s
related Founder Member so long as such Founder Member is directly or indirectly controlled by such Co-Founder, (iii) a trust, family-partnership
or estate-planning vehicle which is directly or indirectly controlled by such Co-Founder and the income from which may be paid only to
beneficiaries who are such Co-Founder and his or her Family Members, (iv) a corporation, partnership or limited liability company,
which is directly or indirectly controlled by such Co-Founder and the other equityholders of which (if any) are only such Co-Founder,
his or her Family Members or any of the Persons described in clause (iii) of this definition and (v) a private foundation,
organization or similar entity established by such Co-Founder and/or one or more of his or her Family Members and controlled (directly
or indirectly) by such Co-Founder. In the case of (iii) and (iv), such entity must be established for the Co-Founder’s bona
fide estate planning purposes.

 

(12)            “Person”
means any individual, corporation, partnership, limited partnerships, limited liability company, unincorporated association, trusts or
other entity.

 

(13)            “Transfer”
of a share of Class B Common Stock or Class D Common Stock means, directly or indirectly, any sale, assignment, transfer, exchange,
gift, bequest, pledge, hypothecation or other disposition or encumbrance of such share or any legal or beneficial interest in such share,
in whole or in part, whether or not for value and whether voluntary or involuntary or by operation of law; provided, however,
that the following shall not be considered a “Transfer”: (i) the granting of a revocable proxy to officers or directors
of the Corporation at the request of the Board in connection with actions to be taken at annual or special meetings of stockholders or
in connection with any action by written consent of the stockholders solicited by the Board (at such times as action by written consent
of stockholders is permitted under this Certificate of Incorporation); (ii) entering into a voting trust, agreement or arrangement
(with or without granting a proxy) solely with the Corporation or its stockholders that (x) is disclosed either in a Schedule 13D
filed with the U.S. Securities and Exchange Commission or in writing to the Secretary of the Corporation and (y) does not involve
any payment of cash, securities, property or other consideration to the holder of the shares subject thereto other than the mutual promise
to vote shares in a designated manner; (iii) entering into a customary voting or support agreement (with or without granting a proxy)
in connection with any merger, consolidation or other business combination of the Corporation that is approved by the Board, whether
effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders
of Class A Common Stock receive the same consideration per share paid in the tender offer); (iv) the pledge of shares of capital
stock of the Corporation by a stockholder that creates a mere security interest in such shares pursuant to a bona fide loan or indebtedness
transaction so long as such stockholder continues to exercise sole voting control over such pledged shares unless any pledged shares
are transferred to or registered in the name of the pledgee; provided, however, that a foreclosure on such shares or other
similar action by the pledgee shall constitute a “Transfer”; or (v) the fact that the spouse of any holder of Class B
Common Stock or Class D Common Stock possesses or obtains an interest in such holder’s shares of Class B Common Stock
or Class D Common Stock arising solely by reason of the application of the community property laws of any jurisdiction, so long
as no other event or circumstance shall exist or have occurred that constitutes a “Transfer” of such shares of Class B
Common Stock or Class D Common Stock.

 

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(14)          “Triggering
Event” means the first date on which the Co-Founders, together with the other Persons in their Permitted Ownership Groups,
cease collectively to beneficially own (as such term is defined in Rule 13d-3 and Rule 13d-5 under the Exchange Act) a majority
of the combined voting power of the outstanding shares of Common Stock entitled to vote generally in an election of directors to the
Board.

 

B.            The
total number of shares of all classes of stock that the Corporation shall have authority to issue is 1,410,000,000 shares, consisting
of: (i) 1,400,000,000 shares of common stock, divided into (a) 1,000,000,000 shares of Class A common stock, with the
par value of $0.00001 per share (the “Class A Common Stock”), (b) 100,000,000 shares of Class B common
stock, with the par value of $0.00001 per share (the “Class B Common Stock” and, together with Class A Common
Stock, the “Economic Common Stock”), (c) 200,000,000 shares of Class C common stock, with the par value
of $0.00001 per share (the “Class C Common Stock”), and (d) 100,000,000 shares of Class D common stock,
with the par value of $0.00001 per share (the “Class D Common Stock” and, together with the Class C Common
Stock, the “Non-Economic Common Stock” and collectively with the Class A Common Stock, the Class B Common
Stock and the Class C Common Stock, the “Common Stock”); and (ii) 10,000,000 shares of preferred stock,
with the par value of $0.00001 per share (the “Preferred Stock”).

 

C.            Subject
to the rights of the holders of any one or more series of Preferred Stock then outstanding, the number of authorized shares of any class
or series of the Common Stock or the Preferred Stock may be increased or decreased, in each case by the affirmative vote of the holders
of a majority of the total voting power of the outstanding shares of capital stock of the Corporation entitled to vote thereon, voting
together as a single class, irrespective of the provisions of Section 242(b)(2) of the General Corporation Law, and no vote
of the holders of any class or series of the Common Stock or the Preferred Stock voting separately as a class will be required therefor.
Notwithstanding the immediately preceding sentence, the number of authorized shares of any particular class or series may not be decreased
below the number of shares of such class or series then outstanding, plus:

 

(1)            in
the case of Class A Common Stock, the number of shares of Class A Common Stock issuable in connection with (i) the conversion
of all shares of Class B Common Stock issuable as described in subclause (2) below, (ii) the exchange of all outstanding
shares of Class C Common Stock and all shares of Class C Common Stock issuable as described in subclause (3) below, together
with the corresponding Alclear Units constituting the remainder of any Class C Paired Interests in which such shares are included,
pursuant to Section 2.01 of the Exchange Agreement and (iii) the exercise of outstanding options, warrants, exchange rights,
conversion rights or similar rights for Class A Common Stock;

 

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(2)            in
the case of Class B Common Stock, the number of shares of Class B Common Stock issuable in connection with (i) the exchange
of all outstanding shares of Class D Common Stock and all shares of Class D Common Stock issuable as described in subclause
(4) below, together with the corresponding Alclear Units constituting the remainder of any Class D Paired Interests in which
such shares are included, pursuant to Section 2.01 of the Exchange Agreement and (ii) the exercise of outstanding options,
warrants, exchange rights, conversion rights or similar rights for Class B Common Stock;

 

(3)            in
the case of Class C Common Stock, the number of shares of Class C Common Stock issuable in connection with (i) the conversion
of all outstanding shares of Class D Common Stock, (ii) the conversion of all shares of Class D Common Stock issuable
as described in subclause (4) below and (iii) the exercise of outstanding options, warrants, exchange rights, conversion rights
or similar rights for Class C Common Stock; and

 

(4)            in
the case of Class D Common Stock, the number of shares of Class D Common Stock issuable in connection with the exercise of
outstanding options, warrants, exchange rights, conversion rights or similar rights for Class D Common Stock.

 

A statement of the designations of each class
and the powers, preferences and rights, and qualifications, limitations or restrictions thereof is as follows:

 

D.            Common
Stock.

 

(1)            Voting
Rights.

 

(a)            Each
holder of Class A Common Stock or Class C Common Stock, as such, will be entitled to one vote for each share of Class A
Common Stock or Class C Common Stock held of record by such holder on all matters on which stockholders generally are entitled to
vote, and each holder of Class B Common Stock or Class D Common Stock, as such, will be entitled to twenty votes for each share
of Class B Common Stock or Class D Common Stock held of record by such holder on all matters on which stockholders generally
are entitled to vote, except that, in each case, to the fullest extent permitted by law, holders of shares of each class of Common Stock,
as such, will have no voting power with respect to, and will not be entitled to vote on, any amendment to this Certificate of Incorporation
(including any certificate of designations relating to any series of Preferred Stock) that relates solely to the terms of any outstanding
Preferred Stock if the holders of such Preferred Stock are entitled to vote as a separate class thereon under this Certificate of Incorporation
(including any certificate of designations relating to any series of Preferred Stock) or under the DGCL.

 

(b)            (i) The
holders of the outstanding shares of Class A Common Stock and Class C Common Stock, voting together as a single class, shall
be entitled to vote separately upon any amendment to this Certificate of Incorporation (including by merger, consolidation, reorganization
or similar event) that would alter or change the powers, preferences or special rights of such classes of Common Stock in a manner that
is disproportionately adverse as compared to the Class B Common Stock or Class D Common Stock and (ii) the holders of
the outstanding shares of Class B Common Stock and Class D Common Stock, voting together as a single class, shall be entitled
to vote separately upon any amendment to this Certificate of Incorporation (including by merger, consolidation, reorganization or similar
event) that would alter or change the powers, preferences or special rights of such classes of Common Stock in a manner that is disproportionately
adverse as compared to the Class A Common Stock or Class C Common Stock, it being understood that any merger, consolidation
or other business combination shall not be deemed an amendment hereof if such merger, consolidation or other business combination would
be permitted by Article IV.D(3).

 

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(c)            Except
as otherwise required in this Certificate of Incorporation or by applicable law, the holders of Common Stock will vote together as a
single class on all matters (or, if any holders of Preferred Stock are entitled to vote together with the holders of Common Stock, as
a single class with the holders of Preferred Stock).

 

(2)            Dividends;
Stock Splits; Combinations.

 

(a)            Subject
to applicable law and the rights, if any, of the holders of any outstanding series of Preferred Stock or any class or series of stock
having a preference senior to or the right to participate with the Economic Common Stock with respect to the payment of dividends, dividends
of cash or property may be declared and paid on the Economic Common Stock out of the assets of the Corporation that are by law available
therefor, at the times and in the amounts as the Board in its discretion may determine;

 

(b)            Dividends
may not be declared or paid on the Class A Common Stock unless a dividend of the same amount is concurrently declared or paid on
the Class B Common Stock. Dividends may not be declared or paid on the Class B Common Stock unless a dividend of the same amount
is concurrently declared or paid on the Class A Common Stock.

 

(c)            Except
as provided in Article IV.D(2)(d) with respect to stock dividends, dividends of cash or property may not be declared
or paid on the Non-Economic Common Stock.

 

(d)            In
no event will any stock dividend, stock split, reverse stock split, combination of stock, reclassification or recapitalization be declared
or made on any class of Common Stock (each, a “Stock Adjustment”) unless a corresponding Stock Adjustment for all
other classes of Common Stock not so adjusted at the time outstanding is made in the same proportion and the same manner. Stock dividends
with respect to each class of Common Stock may only be paid with shares of stock of the same class of Common Stock.

 

(e)            Notwithstanding
anything to the contrary, if a dividend in the form of capital stock of a subsidiary of the Corporation is declared or paid on the Class A
Common Stock and the Class B Common Stock, the relative per share voting rights of the capital stock of such subsidiary so distributed
in respect of the Class A Common Stock and the Class B Common Stock shall be in the same proportion as the relative voting
rights of a share of Class A Common Stock and a share of Class B Common Stock.

 

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(3)            Except
as expressly provided in this Article IV, the Economic Common Stock shall have the same rights and privileges and rank equally,
share ratably and be identical in all respects as to all matters, and the Non-Economic Common Stock shall have the same rights and privileges
and rank equally, share ratably and be identical as to all matters. Without limiting the generality of the foregoing, (i) in the
event of a merger, consolidation or other business combination requiring the approval of the holders of the Corporation’s capital
stock entitled to vote thereon (whether or not the Corporation is the surviving entity), the holders of the Class A Common Stock
shall have the right to receive, or the right to elect to receive, the same form of consideration, if any, as the holders of the Class B
Common Stock and the holders of the Class A Common Stock shall have the right to receive, or the right to elect to receive, at least
the same amount of consideration, if any, on a per share basis as the holders of the Class B Common Stock, and the holders of the
Class C Common Stock shall have the right to receive, or the right to elect to receive, the same form of consideration, if any,
as the holders of the Class D Common Stock and the holders of the Class C Common Stock shall have the right to receive, or
the right to elect to receive, at least the same amount of consideration, if any, on a per share basis as the holders of the Class D
Common Stock and (ii) in the event of (a) any tender or exchange offer to acquire any shares of Common Stock by any third party
pursuant to an agreement to which the Corporation is a party or (b) any tender or exchange offer by the Corporation to acquire any
shares of Common Stock, pursuant to the terms of the applicable tender or exchange offer, the holders of the Class A Common Stock
shall have the right to receive, or the right to elect to receive, the same form of consideration as the holders of the Class B
Common Stock and the holders of the Class A Common Stock shall have the right to receive, or the right to elect to receive, at least
the same amount of consideration on a per share basis as the holders of the Class B Common Stock, and the holders of the Class C
Common Stock shall have the right to receive, or the right to elect to receive, the same form of consideration, if any, as the holders
of the Class D Common Stock and the holders of the Class C Common Stock shall have the right to receive, or the right to elect
to receive, at least the same amount of consideration, if any, on a per share basis as the holders of the Class D Common Stock;
provided that, for the purposes of the foregoing clauses (i) and (ii) and notwithstanding the first sentence of this
Article IV.D(3), (x) in the event any such consideration includes securities, (a) the consideration payable to
holders of Class A Common Stock shall be deemed the same form of consideration and at least the same amount of consideration on
a per share basis as the holders of Class B Common Stock on a per share basis if the only difference in the per share distribution
to the holders of Class B Common Stock is that the securities distributed to such holders have not more than twenty times the voting
power of any securities distributed to the holder of a share of Class A Common Stock and (b) the consideration payable to holders
of Class D Common Stock shall be deemed the same form of consideration and at least the same amount of consideration on a per share
basis as the holders of Class C Common Stock on a per share basis if the only difference in the per share distribution to the holders
of Class D Common Stock is that the securities distributed to such holders have not more than twenty times the voting power of any
securities distributed to the holder of a share of Class C Common Stock (in each case, so long as such securities issued to the
holders of Class B Common Stock or the Class D Common Stock, as the case may be, remain subject to automatic conversion on
terms no more favorable to such holders than those set forth in Article IV.G) and (y) payments under or in respect of
the tax receivable agreement or similar agreement entered by the Corporation from time to time with any holders of Common Stock shall
not be considered part of the consideration payable in respect of any share of Common Stock.

 

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(4)            Liquidation.
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation, after payment
or provision for payment of the debts and other liabilities of the Corporation and of the preferential and other amounts, if any, to
which the holders of Preferred Stock are entitled, if any, the holders of all outstanding shares of Common Stock will be entitled to
receive, pari passu, an amount per share equal to the par value thereof, and thereafter the holders of all outstanding shares
of Economic Common Stock will be entitled to receive the remaining assets of the Corporation available for distribution ratably in proportion
to the number of shares of Economic Common Stock. Without limiting the rights of the holders of Non-Economic Common Stock to exchange
their shares of Non-Economic Common Stock, together with the corresponding Alclear Units constituting the remainder of any Paired Interests
in which such shares are included, for shares of Economic Common Stock in accordance with Section 2.01 of the Exchange Agreement
(or for the consideration payable in respect of shares of Economic Common Stock in such voluntary or involuntary liquidation, dissolution
or winding up), the holders of shares of Non-Economic Common Stock, as such, will not be entitled to receive, with respect to such shares,
any assets of the Corporation in excess of the par value thereof, in the event of any voluntary or involuntary liquidation, dissolution
or winding up of the affairs of the Corporation.

 

E.            Preferred
Stock. Shares of Preferred Stock may be issued from time to time in one or more series of any number of shares; provided,
that the aggregate number of shares issued and not retired of any and all such series shall not exceed the total number of shares of
Preferred Stock hereinabove authorized, and with such powers, including voting powers, if any, and the designations, preferences and
relative, participating, optional or other special rights, if any, and any qualifications, limitations or restrictions thereof, all as
shall hereafter be stated and expressed in the resolution or resolutions providing for the designation and issue of such shares of Preferred
Stock from time to time adopted by the Board pursuant to authority to do so which is hereby expressly vested in the Board. The powers,
including voting powers, if any, preferences and relative, participating, optional and other special rights of each series of Preferred
Stock, and the qualifications, limitations or restrictions thereof, if any, may differ from those of any and all other series at any
time outstanding. Each series of shares of Preferred Stock: (i) may have such voting rights or powers, full or limited, if any;
(ii) may be subject to redemption at such time or times and at such prices, if any; (iii) may be entitled to receive dividends
(which may be cumulative or non-cumulative) at such rate or rates, on such conditions and at such times, and payable in preference to,
or in such relation to, the dividends payable on any other class or classes or series of stock, if any; (iv) may have such rights
upon the voluntary or involuntary liquidation, winding up or dissolution of, upon any distribution of the assets of, or in the event
of any merger, sale or consolidation of, the Corporation, if any; (v) may be made convertible into or exchangeable for, shares of
any other class or classes or of any other series of the same or any other class or classes of stock of the Corporation (or any other
securities of the Corporation or any other Person) at such price or prices or at such rates of exchange and with such adjustments, if
any; (vi) may be entitled to the benefit of a sinking fund to be applied to the purchase or redemption of shares of such series
in such amount or amounts, if any; (vii) may be entitled to the benefit of conditions and restrictions upon the creation of indebtedness
of the Corporation or any subsidiary, upon the issue of any additional shares (including additional shares of such series or of any other
series) and upon the payment of dividends or the making of other distributions on, and the purchase, redemption or other acquisition
by the Corporation or any subsidiary of, any outstanding shares of the Corporation, if any; (viii) may be subject to restrictions
on transfer or registration of transfer, or on the amount of shares that may be owned by any Person or group of Person; and (ix) may
have such other relative, participating, optional or other special rights, qualifications, limitations or restrictions thereof, if any;
all as shall be stated in said resolution or resolutions of the Board providing for the designation and issue of such shares of Preferred
Stock.

 

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F.            Optional
Conversion of Class B Common Stock and Class D Common Stock.

 

(1)            Each
share of Class B Common Stock or Class D Common Stock may be converted into one fully paid and non-assessable share of Class A
Common Stock or Class C Common Stock, respectively, at any time at the option of the holder of such share of Class B Common
Stock or Class D Common Stock. In order to exercise the conversion privilege, the holder of any shares of Class B Common Stock
or Class D Common Stock to be converted shall deliver to the Corporation written or electronic notice that the holder elects to
convert shares of Class B Common Stock or Class D Common Stock, as applicable, to the extent specified in such notice and,
if such shares are certificated, such holder shall present and surrender the certificate or certificates representing such shares during
usual business hours at the principal executive offices of the Corporation or, if any agent for the registration or transfer of shares
of Class B Common Stock or Class D Common Stock is then duly appointed and acting (the “Class B Transfer Agent”
and the “Class D Transfer Agent,” respectively), at the office of the Class B Transfer Agent or Class D
Transfer Agent, as applicable. If required by the Corporation, any certificate for shares of Class B Common Stock or Class D
Common Stock surrendered for conversion shall be accompanied by instruments of transfer, in form reasonably satisfactory to the Corporation
and the Class B Transfer Agent or Class D Transfer Agent, as applicable, duly executed by the holder of such shares or such
holder’s duly authorized representative. As promptly as practicable after the receipt of such notice and the surrender of the certificate
or certificates representing such shares of Class B Common Stock or Class D Common Stock as aforesaid and in any event within
three days of the receipt of such notice and certificates, if such shares are certificated, the Corporation shall issue and deliver at
such office to such holder, or on such holder’s written order, a certificate or certificates for the number of full shares of Class A
Common Stock or Class C Common Stock, as applicable, (if certificated) issuable upon the conversion of such shares. To the extent
such shares of Class B Common Stock or Class D Common Stock as aforesaid are settled through the facilities of The Depository
Trust Company or through the book entry facilities of the Class B Transfer Agent or Class D Transfer Agent, the Corporation
shall, upon such holder’s written order, issue and deliver the number of full shares of Class A Common Stock or Class C
Common Stock, as applicable, issuable upon the conversion of such shares through the facilities of The Depository Trust Company to the
account of the participant of The Depository Trust Company designated by such holder or through the book entry facilities of the Class B
Transfer Agent or Class D Transfer Agent. Each conversion of shares of Class B Common Stock or Class D Common Stock shall
be deemed to have been effected on (i) the date on which such notice shall have been received by the Corporation, the Class B
Transfer Agent or the Class D Transfer Agent, as applicable (subject to receipt by the Corporation, the Class B Transfer Agent
or the Class D Transfer Agent, as applicable, within five business days thereafter of any required instruments of transfer as aforesaid),
or (ii) such later date specified in or pursuant to such notice, and the Person or Persons in whose name or names any certificate
or certificates for shares of Class A Common Stock or Class C Common Stock shall be issuable upon such conversion as aforesaid
shall be deemed to have become on said date the holder or holders of record of the shares represented thereby.

 

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(2)            Notwithstanding
anything in this Article IV.F to the contrary, any holder may withdraw or amend a notice of conversion, in whole or in part,
prior to the effectiveness of the conversion, at any time prior to 5:00 p.m., New York City time, on the business day immediately preceding
the date of the conversion (or any such later time as may be required by applicable law) by delivery of a written or electronic notice
of withdrawal to the Corporation, the Class B Transfer Agent or the Class D Transfer Agent, as applicable, specifying (i) if
applicable, the certificate numbers of the withdrawn shares of Class B Common Stock or Class D Common Stock, (ii) if any,
the number of shares of Class B Common Stock or Class D Common Stock as to which the notice of conversion remains in effect
and (iii) if the holder so determines, a new conversion date or any other new or revised information permitted in a notice of conversion.
A notice of conversion may specify that the conversion is to be contingent (including as to timing) upon the consummation of a purchase
by another Person (whether in a tender or exchange offer, an underwritten offering or otherwise) of shares of the Class A Common
Stock or Class C Common Stock into which the Class B Common Stock or Class D Common Stock, respectively, is convertible,
or contingent (including as to timing) upon the closing of an announced merger, consolidation or other transaction or event in which
the Class A Common Stock or Class C Common Stock would be exchanged or converted or become exchangeable for or convertible
into cash or other securities or property.

 

G.            Automatic
Conversion of Class B Common Stock and Class D Common Stock.

 

(1)            Each
outstanding share of Class B Common Stock or Class D Common Stock will, automatically and without further action on the part
of the Corporation or any holder of Class B Common Stock or Class D Common Stock, convert into one fully paid and non-assessable
share of Class A Common Stock or Class C Common Stock, respectively, (i) immediately prior to any Transfer of such Class B
Common Stock or Class D Common Stock, as applicable, to a Person that is not a member of any Co-Founder’s Permitted Ownership
Group, (ii) upon the fifth anniversary of the closing of the Corporation’s initial public offering, (iii) with respect
to any shares of Class B Common Stock or Class D Common Stock held by any Person in any Co-Founder’s Permitted Ownership
Group, (A) such time as such Co-Founder is removed as a director on the Board with such Co-Founder’s consent, (B) upon
the violation of any material non-compete or non-solicitation covenants by such Co-Founder set forth in any written agreement entered
into by the Corporation and such Co-Founder on or after the filing and effectiveness of this Certificate of Incorporation, that is finally
determined by a court of competent jurisdiction or (C) upon the death or Disability of such Co-Founder, or (iv) with respect
to any shares held by or subject to the voting control of any Co-Founder or other Persons in his or her Permitted Ownership Group, such
time as the Persons in such Co-Founder’s Permitted Ownership Group cease to hold or control the vote of, in the aggregate, at least
twenty-five percent (25%) of the aggregate shares of Class B Common Stock and Class D Common Stock held by or subject to the
voting control of such Co-Founder’s Permitted Ownership Group as of the closing of the Corporation’s initial public offering.
Upon any conversion pursuant to this Article IV.G, the certificate or certificates that represented immediately prior thereto
the shares of Class B Common Stock or Class D Common Stock that were so converted, automatically and without further action,
shall represent the same number of shares of Class A Common Stock or Class C Common Stock, respectively, without the need for
surrender or exchange thereof. As promptly as practicable following a conversion pursuant to this Article IV.G, the Corporation
shall deliver or cause to be delivered to any holder whose shares of Class B Common Stock or Class D Common Stock have been
converted as a result of such conversion the number of shares of Class A Common Stock or Class C Common Stock deliverable upon
such conversion, as applicable, registered in the name of such holder. To the extent such shares are settled through the facilities of
The Depository Trust Company or through the book entry facilities of the Class B Transfer Agent or Class D Transfer Agent,
the Corporation will, upon the written instruction of such holder, deliver the shares of Class A Common Stock or Class C Common
Stock deliverable to such holder, through the facilities of The Depository Trust Company, to the account of the participant of The Depository
Trust Company designated by such holder or through the book entry facilities of the Class B Transfer Agent or Class D Transfer
Agent. Each share of Class B Common Stock and Class D Common Stock that is converted pursuant to this Article IV.G
shall thereupon be retired by the Corporation and shall not be available for reissuance.

 

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(2)            The
Corporation may, from time to time, establish such policies and procedures relating to the conversion of the Class B Common Stock
and Class D Common Stock and the general administration of its multi-class common stock structure, including the issuance of stock
certificates with respect thereto, as it may deem necessary or advisable, and may request that holders of shares of Class B Common
Stock or Class D Common Stock furnish affidavits or other proof to the Corporation as it deems necessary to verify the ownership
of Class B Common Stock or Class D Common Stock, as applicable, and to confirm that a conversion to Class A Common Stock
or Class C Common Stock, respectively, has not occurred.

 

H.            Unconverted
Shares. If less than all of the shares of Class B Common Stock or Class D Common Stock evidenced by a certificate or certificates
surrendered to the Corporation are converted, the Corporation shall execute and deliver to, or upon the written order of, the holder
of such certificate or certificates a new certificate or certificates evidencing the number of shares of Common Stock which are not converted
without charge to the holder.

 

I.            No
Conversion Rights of Class A Common Stock and Class C Common Stock. The Class A Common Stock and Class C Common
Stock shall not have any conversion rights.

 

J.            Reservation
of Shares of Class A Common Stock for Conversion Right. The Corporation will at all times reserve and keep available out of
its authorized and unissued shares of Class A Common Stock, solely for the purposes of conversions of Class B Common Stock,
the number of shares of Class A Common Stock that are issuable upon conversion of all outstanding shares of Class B Common
Stock, including any shares of Class B Common Stock issuable upon the exchange of all outstanding shares of Class D Common
Stock, together with the corresponding Alclear Units constituting the remainder of any Class D Paired Interests in which such shares
are included, pursuant to Section 2.01 of the Exchange Agreement. The Corporation covenants that all the shares of Class A
Common Stock that are issued upon conversion of such Class B Common Stock will, upon issuance, be validly issued, fully paid and
non-assessable.

 

K.            Reservation
of Shares of Class C Common Stock for Conversion Right. The Corporation will at all times reserve and keep available out of
its authorized and unissued shares of Class C Common Stock, solely for the purposes of conversions of Class D Common Stock,
the number of shares of Class C Common Stock that are issuable upon conversion of all outstanding shares of Class D Common
Stock. The Corporation covenants that all the shares of Class C Common Stock that are issued upon conversion of Class D Common
Stock will, upon issuance, be validly issued, fully paid and non-assessable.

 

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L.            Distributions
with Respect to Converted Shares. No conversion pursuant to this Article IV shall impair the right of the converting
stockholder to receive any dividends or other distributions payable on shares so converted in respect of a record date that occurs prior
to the effective date for such conversion. For the avoidance of doubt, no converting stockholder shall be entitled to receive, in respect
of a single record date, dividends or other distributions both on shares that are converted by such stockholder and on shares received
by such stockholder in such conversion.

 

M.            Exchange
of Class C Common Stock and Class D Common Stock. Shares of Class C Common Stock or Class D Common Stock may
be exchanged, together with the corresponding vested Alclear Units constituting the remainder of any Class C Paired Interests or
Class D Paired Interests in which such shares are included, as applicable, at any time and from time to time for shares of Class A
Common Stock or Class B Common Stock, respectively, in accordance with Section 2.01 of the Exchange Agreement.

 

N.            Taxes.
The issuance of shares of Economic Common Stock upon the exercise by holders of shares of Non-Economic Common Stock of their right under
Section 2.01 of the Exchange Agreement to exchange Paired Interests will be made without charge to the holders of the shares of
Non-Economic Common Stock for any transfer taxes, stamp taxes or duties or other similar tax in respect of the issuance; provided,
however, that if any such shares of Economic Common Stock are to be issued in a name other than that of the then record holder
of the shares of Non-Economic Common Stock being exchanged (or The Depository Trust Company or its nominee for the account of a participant
of The Depository Trust Company that will hold the shares for the account of such holder or the book entry facilities of the Class B
Transfer Agent or Class D Transfer Agent), then such holder or the Person in whose name such shares are to be delivered, shall pay
to the Corporation the amount of any tax that may be payable in respect of any transfer involved in the issuance or shall establish to
the reasonable satisfaction of the Corporation that the tax has been paid or is not payable.

 

Article V.

 

Board of Directors

 

A.            Except
as otherwise provided in this Certificate of Incorporation and the DGCL, the business and affairs of the Corporation shall be managed
by or under the direction of the Board. Except as otherwise provided for or fixed pursuant to the provisions of Article IV.E
relating to the rights of the holders of any series of Preferred Stock to elect additional directors, the total number of directors
constituting the whole Board shall be determined from time to time exclusively by the Board; provided, that the number of directors
shall not be less than three persons nor more than twenty persons.

 

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B.            During
any period when the holders of any series of Preferred Stock have the right to elect additional directors as provided for or fixed pursuant
to the provisions of Article IV.E (“Preferred Stock Directors”), upon the commencement, and for the duration,
of the period during which such right continues: (i) the then total authorized number of directors shall automatically be increased
by such specified number of Preferred Stock Directors, and the holders of the related Preferred Stock shall be entitled to elect the
Preferred Stock Directors pursuant to the provisions of the Board’s designation for the series of Preferred Stock, and (ii) each
such Preferred Stock Director shall serve until such Preferred Stock Director’s successor shall have been duly elected and qualified,
or until such Preferred Stock Director’s right to hold such office terminates pursuant to such provisions, whichever occurs earlier,
subject to his or her earlier death, resignation, disqualification or removal. Except as otherwise provided by the Board in the resolution
or resolutions establishing such series, whenever the holders of any series of Preferred Stock having such right to elect Preferred Stock
Directors are divested of such right pursuant to the provisions of such stock, the terms of office of all such Preferred Stock Directors
elected by the holders of such Preferred Stock, or elected to fill any vacancies resulting from the death, resignation, disqualification
or removal of such Preferred Stock Directors, shall forthwith terminate and the total and authorized number of directors shall be reduced
accordingly.

 

C.            Subject
to the rights of the holders of any one or more series of Preferred Stock then outstanding, if required by applicable law, an annual
meeting of the stockholders of the Corporation for the election of directors and such other matters as may be properly brought before
the meeting shall be held at such date and time as may be fixed by the Board at such place, if any, within or without the State of Delaware
as may be fixed by the Board and all as stated in the notice of the meeting. Directors shall be elected at such annual meeting of stockholders
in the manner provided in the By-Laws, and each director elected shall hold office until the succeeding annual meeting after such director’s
election and until such director’s successor is duly elected and qualified, or, if earlier, until such director’s death,
resignation, disqualification or removal from office.

 

D.            Subject
to the rights of the holders of any one or more series of Preferred Stock then outstanding, any newly created directorship on the Board
that results from an increase in the total number of directors and any vacancy occurring on the Board (whether by death, resignation,
disqualification, removal or other cause) shall be filled by the affirmative vote of a majority of the directors then in office (even
if less than a quorum), by a sole remaining director or by the stockholders; provided, however, that following the
occurrence of a Triggering Event, any newly created directorship on the Board that results from an increase in the number of directors
and any vacancy occurring on the Board shall be filled only by a majority of the directors then in office (even if less than a quorum),
or by a sole remaining director (and not by stockholders). Any director elected to fill a vacancy or newly created directorship shall
hold office until the next election of the class for which such director shall have been chosen and until his or her successor shall
be elected and qualified, or until his or her earlier death, resignation, disqualification or removal.

 

E.            Except
for Preferred Stock Directors, any or all of the directors may be removed at any time either with or without cause by the affirmative
vote of a majority in voting power of all outstanding shares of capital stock of the Corporation entitled to vote generally in the election
of directors, voting together as a single class; provided, however, that following the occurrence of a Triggering
Event, any such director or all such directors may be removed only by the affirmative vote of the holders of at least 66 2/3% of the
voting power of the then outstanding shares of capital stock of the Corporation entitled to vote generally in the election of directors,
voting together as a single class.

 

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Article VI.

 

Limitation of Liability

 

To the fullest extent permitted under the DGCL,
no director of the Corporation shall be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director. Any amendment or repeal of this Article VI shall not adversely affect any right or protection of a director
of the Corporation hereunder in respect of any act or omission occurring prior to the time of such amendment or repeal.

 

Article VII.

 

Amendments

 

A.            The
Corporation reserves the right to amend or repeal any provision contained in this Certificate of Incorporation in the manner prescribed
by the laws of the State of Delaware and all rights conferred upon stockholders are granted subject to this reservation; provided,
however, that, notwithstanding any provision of applicable law or any other provision of this Certificate of Incorporation that
might otherwise permit a lesser vote or no vote, but in addition to any vote of the holders of any class or series of the capital stock
of the Corporation required by applicable law or by this Certificate of Incorporation, from and after the occurrence of a Triggering
Event, any amendment to Article V, Article VI, Article IX, Article X or this Article VII
of this Certificate of Incorporation or repeal of this Certificate of Incorporation shall require the affirmative vote of the holders
of at least 66 2/3% of the voting power of the then outstanding shares of capital stock of the Corporation entitled to vote generally
in the election of directors, voting together as a single class.

 

B.            The
Board shall have the power to adopt, amend or repeal the By-Laws. Any adoption, amendment or repeal of the By-Laws by the Board shall
require the approval of a majority of the directors then in office (even if less than a quorum). The stockholders shall also have power
to adopt, amend or repeal the By-Laws; provided, however, that, from and after the occurrence of a Triggering Event, any
amendment to or repeal of the By-Laws (or the adoption of any provision inconsistent therewith) shall require the affirmative vote of
the holders of at least 66 2/3% of the voting power of the then outstanding shares of capital stock of the Corporation entitled to vote
generally in the election of directors, voting together as a single class.

 

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Article VIII.

 

Indemnification

 

A.            Right
to Indemnification. The Corporation shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently
exists or may hereafter be amended, any person (a “Covered Person”) who was or is a party or is threatened to be made
a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative
(a “Proceeding”), by reason of the fact that he or she, or a person for whom he or she is the legal representative,
is or was a director or officer of the Corporation or, while a director or officer of the Corporation, is or was serving at the request
of the Corporation as a director, officer, employee or agent of another entity or enterprise, including service with respect to employee
benefit plans, against all liability and loss suffered and expenses (including attorneys’ fees), judgments, fines and amounts paid
in settlement (except for judgments, fines and amounts paid in settlement in any action or suit by or in the right of the Corporation
to procure a judgment in its favor) actually and reasonably incurred by such Covered Person. Notwithstanding the preceding sentence,
except as otherwise provided in Article VIII.C., the Corporation shall be required to indemnify a Covered Person in connection
with a Proceeding (or part thereof) commenced by such Covered Person only if the commencement of such Proceeding (or part thereof) by
the Covered Person was authorized by the Board. Any reference to an officer of the Corporation in this Article VIII shall
be deemed to refer exclusively to the Chair of the Board, Chief Executive Officer, President, Chief Financial Officer and Secretary of
the Corporation appointed pursuant to Article IV of the By-Laws, and to any other officer of the Corporation appointed by the Board
pursuant to Article IV of the By-laws.

 

B.            Prepayment
of Expenses. To the extent not prohibited by applicable law, the Corporation shall pay the expenses (including attorneys’ fees)
incurred by a Covered Person in defending any Proceeding in advance of its final disposition; provided, however, that,
to the extent required by applicable law, such payment of expenses in advance of the final disposition of the Proceeding shall be made
only upon receipt of an undertaking by the Covered Person to repay all amounts advanced if it should be ultimately determined that the
Covered Person is not entitled to be indemnified under this Article VIII or otherwise.

 

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

 

D.            Nonexclusivity
of Rights. The rights conferred on any Covered Person by this Article VIII shall not be exclusive of any other rights
that such Covered Person may have or hereafter acquire under any statute, provision of the By-Laws, this Certificate of Incorporation,
agreement, vote of stockholders or disinterested directors or otherwise.

 

E.            Other
Sources. Subject to Article VIII.F., the Corporation’s obligation, if any, to indemnify or to advance expenses
to any Covered Person who was or is serving at its request as a director, officer, employee or agent of another entity or enterprise
shall be reduced by any amount such Covered Person may collect as indemnification or advancement of expenses from such other entity or
enterprise.

 

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F.            Indemnitor
of First Resort. In all events, (i) the Corporation hereby agrees that it is the indemnitor of first resort (i.e., its obligation
to a Covered Person to provide advancement and/or indemnification to such Covered Person are primary and any obligation of any stockholder
of the Corporation (including any Affiliate thereof other than the Corporation) to provide advancement or indemnification hereunder or
under any other indemnification agreement (whether pursuant to contract, by-laws or charter), or any obligation of any insurer of any
stockholder (or any Affiliate thereof, other than the Corporation) to provide insurance coverage, for the same expenses, liabilities,
judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in
connection with or in respect of such expenses, liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by
such Covered Person are secondary and (ii) if any stockholder (or any Affiliate thereof, other than the Corporation) pays or causes
to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under any other indemnification agreement (whether pursuant
to contract, by-laws or charter) with such Covered Person, then (x) such stockholder (or such Affiliate, as the case may be), as
the case may be, shall be fully subrogated to all rights of such Covered Person with respect to such payment and (y) the Corporation
shall fully indemnify, reimburse and hold harmless such stockholder (or such other Affiliate), as the case may be, for all such payments
actually made by such stockholder (or such other Affiliate).

 

G.            Amendment
or Repeal. Any amendment or repeal of the foregoing provisions of this Article VIII shall not adversely affect any right
or protection hereunder of any Covered Person in respect of any act or omission occurring prior to the time of such amendment or repeal.

 

H.            Other
Indemnification and Prepayment of Expenses. This Article VIII shall not limit the right of the Corporation, to the extent
and in the manner permitted by applicable law, to indemnify and to advance expenses to persons other than Covered Persons when and as
authorized by appropriate corporate action.

 

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

 

Article IX.

 

Section 203

 

A.            The
Corporation shall not be governed by Section 203 of the DGCL (“Section 203”), and the restrictions contained
in Section 203 shall not apply to the Corporation.

 

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B.            Notwithstanding
the foregoing, the Corporation shall not engage in any business combination (as defined below), at any point in time at which the Corporation’s
Common Stock is registered under Section 12(b) or 12(g) of the Exchange Act, with any interested stockholder (as defined
below) for a period of three years following the time that such stockholder became an interested stockholder, unless:

 

(1)            prior
to such time, the Board approved either the business combination or the transaction that resulted in the stockholder becoming an interested
stockholder;

 

(2)            upon
consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned
at least 85% of the voting stock (as defined below) of the Corporation outstanding at the time the transaction commenced, excluding for
purposes of determining the voting stock outstanding (but not the outstanding voting stock owned by the interested stockholder) those
shares owned (i) by persons who are directors and also officers and (ii) 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

 

(3)            at
or subsequent to such time, the business combination is approved by the Board and authorized at an annual or special meeting of stockholders,
and not by written consent, by the affirmative vote of at least two thirds of the outstanding voting stock of the Corporation that is
not owned by the interested stockholder.

 

C.            For
purposes of this Article IX, references to:

 

(1)            “associate”
when used to indicate a relationship with any person, means: (i) any corporation, partnership, unincorporated association or other
entity of which such person is a director, officer or partner or is, directly or indirectly, the owner of 20% or more of any class of
voting stock; (ii) any trust or other estate in which such person has at least a 20% beneficial interest or as to which such
person serves as trustee or in a similar fiduciary capacity; and (iii) any relative or spouse of such person, or any relative
of such spouse, who has the same residence as such person.

 

(2)            “business
combination,” when used in reference to the Corporation and any interested stockholder of the Corporation, means:

 

(a)            (i) any
merger or consolidation of the Corporation or any direct or indirect majority-owned subsidiary of the Corporation with the interested
stockholder, or (ii) with any other corporation, partnership, unincorporated association or other entity if the merger or consolidation
is caused by the interested stockholder and as a result of such merger or consolidation Article IX.B is not applicable to
the surviving entity;

 

(b)            any
sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of transactions), except proportionately
as a stockholder of the Corporation, to or with the interested stockholder, whether as part of a dissolution or otherwise, of assets
of the Corporation or of any direct or indirect majority-owned subsidiary of the Corporation which assets have an aggregate market value
equal to 10% or more of either the aggregate market value of all the assets of the Corporation determined on a consolidated basis or
the aggregate market value of all the outstanding stock of the Corporation;

 

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(c)            any
transaction that results in the issuance or transfer by the Corporation or by any direct or indirect majority-owned subsidiary of the
Corporation of any stock of the Corporation or of such subsidiary to the interested stockholder, except: (i) pursuant to the exercise,
exchange or conversion of securities exercisable for, exchangeable for or convertible into stock of the Corporation or any such subsidiary
which securities were outstanding prior to the time that the interested stockholder became such; (ii) pursuant to a merger
under Section 251(g) of the DGCL; (iii) pursuant to a dividend or distribution paid or made, or the exercise, exchange
or conversion of securities exercisable for, exchangeable for or convertible into stock of the Corporation or any such subsidiary which
security is distributed, pro rata to all holders of a class or series of stock of the Corporation subsequent to the time the interested
stockholder became such; (iv) pursuant to an exchange offer by the Corporation to purchase stock made on the same terms to
all holders of said stock; or (v) any issuance or transfer of stock by the Corporation; provided, however,
that in no case under items (iii) through (v) of this subsection (c) shall there be an increase in the interested stockholder’s
proportionate share of the stock of any class or series of the Corporation or of the voting stock of the Corporation (except as a result
of immaterial changes due to fractional share adjustments);

 

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

 

(e)            any
receipt by the interested stockholder of the benefit, directly or indirectly (except proportionately as a stockholder of the Corporation),
of any loans, advances, guarantees, pledges, or other financial benefits (other than those expressly permitted in subsections (i) through
(iv) above) provided by or through the Corporation or any direct or indirect majority-owned subsidiary.

 

(3)            “control,”
including the terms “controlling,” “controlled by” and “under common control with,” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the
ownership of voting stock, by contract, or otherwise. A person who is the owner of 20% or more of the outstanding voting stock of a corporation,
partnership, unincorporated association or other entity shall be presumed to have control of such entity, in the absence of proof by
a preponderance of the evidence to the contrary. Notwithstanding the foregoing, a presumption of control shall not apply where such person
holds voting stock, in good faith and not for the purpose of circumventing this Article IX, as an agent, bank, broker, nominee,
custodian or trustee for one or more owners who do not individually or as a group have control of such entity.

 

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(4)            “interested
stockholder” means any person (other than the Corporation or any direct or indirect majority-owned subsidiary of the Corporation)
that (i) is the owner of 15% or more of the outstanding voting stock of the Corporation, or (ii) is an Affiliate or associate
of the Corporation and was the owner of 15% or more of the outstanding voting stock of the Corporation at any time within the three-year
period immediately prior to the date on which it is sought to be determined whether such person is an interested stockholder; and
the Affiliates and associates of such person; but “interested stockholder” shall not include (a) (I) any Co-Founder,
(II) any other Person in a Co-Founder’s Permitted Ownership Group, (III) any related party of any of the foregoing or
(IV) any permitted transferee of any of the foregoing or related party of such permitted transferee, or (b) any person whose
ownership of shares in excess of the 15% limitation set forth herein is the result of any action taken solely by the Corporation;
provided that in the case of clause (b), such person shall be an interested stockholder if thereafter such person acquires additional
shares of voting stock of the Corporation, except as a result of further corporate action not caused, directly or indirectly, by such
person. For the purpose of determining whether a person is an interested stockholder, the voting stock of the Corporation deemed to be
outstanding shall include stock deemed to be owned by the person through application of the definition of “owner” below but
shall not include any other unissued stock of the Corporation that may be issuable pursuant to any agreement, arrangement or understanding,
or upon exercise of conversion rights, warrants or options, or otherwise.

 

(5)            “owner,”
including the terms “own” and “owned,” when used with respect to any stock, means a person that individually
or with or through any of its Affiliates or associates:

 

(a)            beneficially
owns such stock, directly or indirectly; or

 

(b)            has
(i) the right to acquire such stock (whether such right is exercisable immediately or only after the passage of time) pursuant to
any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise;
provided, however, that a person shall not be deemed the owner of stock tendered pursuant to a tender or exchange offer
made by such person or any of such person’s Affiliates or associates until such tendered stock is accepted for purchase or exchange;
or (ii) the right to vote such stock pursuant to any agreement, arrangement or understanding; provided, however,
that a person shall not be deemed the owner of any stock because of such person’s right to vote such stock if the agreement, arrangement
or understanding to vote such stock arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation
made to ten or more persons; or

 

(c)            has
any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to a revocable proxy
or consent as described in item (b) of subsection (ii) above), or disposing of such stock with any other person that beneficially
owns, or whose Affiliates or associates beneficially own, directly or indirectly, such stock.

 

(6)            “permitted
transferee” means, with respect to any person, any other person that (i) acquires (other than in connection with a registered
public offering) voting stock of the Corporation from the such person or any of such person’s respective related parties and (ii) is
designated in writing by a Founder Member as a “permitted transferee.”

 

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(7)            “person”
means any individual, corporation, partnership, unincorporated association or other entity.

 

(8)            “related
party” means any affiliate or successor of such other person or any “group,” or any member of any such group, to
which such persons are a party under Rule 13d-5 of the Exchange Act.

 

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

 

(10)            “voting
stock” means stock of any class or series entitled to vote generally in the election of directors and, with respect to any
entity that is not a corporation, any equity interest entitled to vote generally in the election of the governing body of such entity.
Every reference to a percentage of voting stock shall refer to such percentages of the votes of such voting stock.

 

Article X.

 

Stockholder Matters

 

A.            Until
the occurrence of a Triggering Event, any action required or permitted to be taken at any annual or special meeting of stockholders of
the Corporation 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 having not less than the minimum number of votes that
would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.
From and after the occurrence of a Triggering Event, any action required or permitted to be taken by the stockholders of the Corporation
must be effected at a duly called annual or special meeting of such holders and may not be effected by any consent in writing by such
holders.

 

B.            Except
as otherwise required by law and subject to the rights of the holders of any series of Preferred Stock, special meetings of the stockholders
of the Corporation for any purpose or purposes may be called at any time only by or at the direction of the Board, the chair of the Board
or the Chief Executive Officer of the Corporation. Business transacted at special meetings of stockholders shall be confined to the purpose
or purposes stated in the notice of meeting.

 

C.            No
stockholder will be permitted to cumulate votes at any election of directors.

 

D.            Advance
notice of stockholder nominations for the election of directors of the Corporation and of business to be brought by stockholders before
any meeting of stockholders of the Corporation shall be given in the manner provided in the By-Laws.

 

E.            Any
Person purchasing or otherwise acquiring any interest in any securities of the Corporation shall be deemed to have notice of and to have
consented to the provisions of this Certificate of Incorporation.

 

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Article XI.

 

Exclusive Forums

 

A.            Unless
the Corporation consents in writing to the selection of an alternative forum, and subject to applicable jurisdictional requirements,
the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action
asserting a claim of breach of a fiduciary duty owed by any current or former director, officer, employee, agent or stockholder of the
Corporation to the Corporation or the Corporation’s stockholders, (iii) any action asserting a claim arising pursuant to any
provision of the DGCL, this Certificate of Incorporation or the By-Laws, or (iv) any action asserting a claim governed by the internal
affairs doctrine shall be the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware lacks
jurisdiction over such action or proceeding, then another state court of the State of Delaware or, if no state court of the State of
Delaware has jurisdiction, then the United States District Court for the District of Delaware). This Article XI.A shall not
apply to claims arising under the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, or other federal
securities laws for which there is exclusive federal or concurrent federal and state jurisdiction.

 

B.            Unless
the Corporation consents in writing to the selection of an alternative forum, the federal district courts of the United States of America
shall, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint, action, suit or proceeding
asserting a cause of action arising under the Securities Act of 1933, as amended.

 

* * * *

 

[Signature appears on next page]

 

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IN WITNESS WHEREOF, the undersigned, being
an authorized officer of the Corporation, has executed, signed and acknowledged this Certificate of Incorporation as of this 29th
day of June, 2021.

 

	 	CLEAR SECURE, INC.
	 	 	 
		By:	/s/
                                            Caryn Seidman-Becker

                                                                  

                                                                  

	 	 	Name: Caryn Seidman-Becker
	 	 	Title: Chief Executive Officer

 

[Signature Page to Second
Amended and Restated Certificate of Incorporation]Exhibit 4.2

 

FIRST AMENDED AND RESTATED

 

BY-LAWS

 

OF

 

CLEAR SECURE, INC.

 

(Adopted as of June 29, 2021)

 

ARTICLE I

 

OFFICES

 

Section 1     Registered
Office. The registered office of Clear Secure, Inc. (the “Corporation”) shall be the office of the Corporation’s
registered agent in the State of Delaware or such other office of the Corporation in the State of Delaware as established from time to
time by the board of directors of the Corporation (the “Board”).

 

Section 2     Other
Offices. The Corporation may also have offices at such other places, both within and without the State of Delaware, as the Board
may from time to time determine or the business of the Corporation may require.

 

ARTICLE II

 

STOCKHOLDERS

 

Section 1     Place
of Meeting. Meetings of stockholders may be held at such place, if any, either within or without the State of Delaware, or by
means of remote communication, as may be designated by the Board.

 

Section 2     Annual
Meeting.

 

(a)       A
meeting of stockholders for the election of directors and such other business as may be properly brought before the meeting in accordance
with these First Amended and Restated By-Laws (these “By-Laws”) shall be held annually at such date and time as may
be designated by the Board from time to time.

 

(b)       At
an annual meeting of the stockholders, only business (other than business relating to the nomination or election of directors which is
governed by ARTICLE III, Section 3) that has been properly brought before the stockholder meeting in accordance with
the procedures set forth in this ARTICLE II, Section 2 shall be conducted. To be properly brought before a meeting of
stockholders, such business must be brought before the meeting (i) by or at the direction of the Board or any committee thereof
or (ii) by a stockholder who (A) was a stockholder of record of the Corporation when the notice required by this ARTICLE II,
Section 2 is delivered to the Secretary of the Corporation and at the time of the meeting, (B) is entitled to vote at the
meeting and (c) complies with the notice and other provisions of this ARTICLE II, Section 2. Subject to ARTICLE II,
Section 2(l), and except with respect to nominations or elections of directors, which are governed by ARTICLE III, Section 3,
ARTICLE II, Section 2(b)(ii) is the exclusive means by which a stockholder may bring business before a meeting
of stockholders. Any business brought before a meeting in accordance with ARTICLE II, Section 2 is referred to as “Stockholder
Business”.

 

    

     

    

 

(c)       Subject
to ARTICLE II, Section 2(l), at any annual meeting of stockholders, all proposals of Stockholder Business must be made
by timely written notice given by or on behalf of a stockholder of record of the Corporation (the “Notice of Business”)
and must otherwise be a proper matter for stockholder action. To be timely, the Notice of Business must be delivered personally or mailed
to, and received at the executive office of the Corporation, addressed to the Secretary of the Corporation, by no earlier than 120 days
and no later than 90 days before the first anniversary of the date of the prior year’s annual meeting of stockholders; provided,
however, that if (i) the annual meeting of stockholders is advanced by more than 30 days, or delayed by more than 60
days, from the first anniversary of the prior year’s annual meeting of stockholders, (ii) no annual meeting was held during
the prior year or (iii) in the case of the Corporation’s first annual meeting of stockholders as a corporation with a class
of equity security registered under the Securities Exchange Act of 1934 (the “Exchange Act”), the notice by the stockholder
to be timely must be received (A) no earlier than 120 days before such annual meeting and (B) no later than the later of 90
days before such annual meeting and the tenth day after the day on which the notice of such annual meeting was first made by mail or
Public Disclosure. In no event shall an adjournment, postponement or deferral, or Public Disclosure of an adjournment, postponement or
deferral, of a stockholder meeting commence a new time period (or extend any time period) for the giving of the Notice of Business.

 

(d)       The
Notice of Business must set forth:

 

(i)       the
name and record address of each stockholder proposing Stockholder Business (the “Proponent”), as they appear on the
Corporation’s books;

 

(ii)      the
name and address of any Stockholder Associated Person;

 

(iii)     as
to each Proponent and any Stockholder Associated Person, (A) the class or series and number of shares of stock directly or indirectly
held of record and beneficially owned by the Proponent or Stockholder Associated Person, (B) the date such shares of stock were
acquired, (C) a description of any agreement, arrangement or understanding, direct or indirect, with respect to such Stockholder
Business between or among the Proponent, any Stockholder Associated Person or any others (including their names) acting in concert with
any of the foregoing, (D) a description of any agreement, arrangement or understanding (including any derivative or short positions,
profit interests, options, hedging transactions and borrowed or loaned shares) that has been entered into, directly or indirectly, by
the Proponent or any Stockholder Associated Person and that remains in effect, the effect or intent of which is to mitigate loss to,
manage risk or benefit of share price changes for, or increase or decrease the voting power of the Proponent or any Stockholder Associated
Person with respect to shares of stock of the Corporation (a “Derivative”) and (E) a description in reasonable
detail of any proxy (including revocable proxies), contract, arrangement, understanding or other relationship pursuant to which the Proponent
or any Stockholder Associated Person has a right to vote any shares of stock of the Corporation. The information specified in ARTICLE II,
Section 2(d)(i) to (iii) is referred to herein as “Stockholder Information”;

 

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(iv)        a
representation that each Proponent is a holder of record of stock of the Corporation entitled to vote at the meeting and intends to appear
in person or by proxy at the meeting to propose such Stockholder Business;

 

(v)         a
brief description of the Stockholder Business desired to be brought before the annual meeting, the text of the proposal (including the
text of any resolutions proposed for consideration and, if such business includes a proposal to amend the By-Laws, the language of the
proposed amendment) and the reasons for conducting such Stockholder Business at the meeting;

 

(vi)        any
material interest of each Proponent and any Stockholder Associated Person in such Stockholder Business;

 

(vii)       a
representation as to whether the Proponent intends (A) to deliver a proxy statement and form of proxy to holders of at least the
percentage of the Corporation’s outstanding capital stock required to approve or adopt such Stockholder Business or (B) otherwise
to solicit proxies from stockholders in support of such Stockholder Business;

 

(viii)      all
other information that would be required to be filed with the U.S. Securities and Exchange Commission (“SEC”) if the
Proponents or Stockholder Associated Persons were participants in a solicitation subject to Section 14 of the Exchange Act; and

 

(ix)         a
representation that the Proponents shall provide any other information reasonably requested by the Corporation.

 

(e)       The
Proponents shall also provide any other information reasonably requested from time to time by the Corporation within ten business days
after each such request.

 

(f)        In
addition, the Proponent shall affirm as true and correct the information provided to the Corporation in the Notice of Business or at
the Corporation’s request pursuant to ARTICLE II, Section 2(e) (and shall update or supplement such information
as needed so that such information shall be true and correct) as of (i) the record date for the meeting, (ii) the date that
is ten calendar days before the first anniversary date of the Corporation’s proxy statement released to stockholders in connection
with the previous year’s annual meeting and (iii) the date that is ten business days before the meeting and, if applicable,
before reconvening any adjournment or postponement thereof. Such affirmation, update and/or supplement must be delivered personally or
mailed to, and received at the executive office of the Corporation, addressed to the Secretary of the Corporation, by no later than (x) five
business days after the applicable date specified in clause (i) or (ii) of the foregoing sentence (in the case of the affirmation,
update and/or supplement required to be made as of those dates), and (y) not later than seven business days before the date for
the meeting (in the case of the affirmation, update and/or supplement required to be made as of ten business days before the meeting
or reconvening any adjournment or postponement thereof).

 

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(g)        The
person presiding over the meeting shall, if the facts warrant, determine and declare to the meeting, that business was not properly
brought before the meeting in accordance with the procedures set forth in this ARTICLE II, Section 2. Any such
business not properly brought before the meeting shall not be transacted.

 

(h)        If
the Proponent (or a qualified representative of the Proponent) does not appear at the meeting of stockholders to present the Stockholder
Business such business shall not be transacted, notwithstanding that proxies in respect of such vote may have been received by the Corporation.
For purposes of this ARTICLE II, Section 2, to be considered a qualified representative of the Proponent, a person must
be a duly authorized officer, manager or partner of such stockholder or must be authorized by a writing executed by such Stockholder
or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of stockholders and such
person must produce such writing or electronic transmission, or a reliable reproduction of the writing or electronic transmission, at
the meeting of stockholders.

 

(i)         “Public
Disclosure” of any date or other information means disclosure thereof by a press release reported by the Dow Jones News Services,
Associated Press or comparable U.S. national news service or in a document publicly filed by the Corporation with the SEC pursuant to
Sections 13, 14 or 15(d) of the Exchange Act.

 

(j)         “Stockholder
Associated Person” means with respect to any stockholder, (i) any other beneficial owner of stock of the Corporation that
is owned by such stockholder and (ii) any person that directly, or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, the stockholder or such beneficial owner.

 

(k)        “Control,”
including the terms “controlling,” “controlled by” and “under common control with,” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the
ownership of voting stock, by contract, or otherwise. A person who is the owner of 20% or more of the outstanding voting stock of a corporation,
partnership, unincorporated association or other entity shall be presumed to have control of such entity, in the absence of proof by
a preponderance of the evidence to the contrary. Notwithstanding the foregoing, a presumption of control shall not apply where such person
holds voting stock, in good faith and not for the purpose of circumventing Article X of the Certificate of Incorporation of the
Corporation, as amended from time to time (the “Certificate of Incorporation”), as an agent, bank, broker, nominee,
custodian or trustee for one or more owners who do not individually or as a group have control of such entity.

 

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(l)       The
notice requirements of this ARTICLE II, Section 2 shall be deemed satisfied with respect to stockholder proposals that
have been properly brought under Rule 14a-8 of the Exchange Act and that are included in a proxy statement that has been prepared
by the Corporation to solicit proxies for such annual meeting. Further, nothing in this ARTICLE II, Section 2 shall
be deemed to affect any rights of the holders of any series of preferred stock of the Corporation pursuant to any applicable provision
of the Certificate of Incorporation.

 

Section 3     Special
Meetings. Special meetings of the stockholders may be called only by the Chair of the Board, a majority of members of the Board
then in office or the Chief Executive Officer. Business transacted at any special meeting of the stockholders shall be limited to the
purposes stated in the notice.

 

Section 4     Record
Date.

 

(a)      For
the purpose of determining the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, unless otherwise
required by the Certificate of Incorporation or applicable law, the Board may fix a record date (the “Notice Record Date”),
which record date shall not precede the date on which the resolution fixing the record date was adopted by the Board and shall not be more than 60 or less than ten days before the date of such meeting.
The Notice Record Date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board
determines, at the time it fixes such Notice Record Date, that a later date on or before the date of the meeting shall be the date for
making such determination (the “Voting Record Date”). Subject to ARTICLE II, Section 12, for the
purposes of determining the stockholders entitled to express consent to corporate action in writing without a meeting, unless otherwise
required by the Certificate of Incorporation or applicable law, the Board may fix a record date, which record date shall not precede
the date on which the resolution fixing the record date was adopted by the Board and shall not be more than ten days after the date on
which the record date was fixed by the Board. For the purposes of determining the stockholders entitled to receive payment of any dividend
or other distribution or allotment of any rights, exercise any rights in respect of any change, conversion or exchange of stock or take
any other lawful action, unless otherwise required by the Certificate of Incorporation or applicable law, the Board may fix a record
date, which record date shall not precede the date on which the resolution fixing the record date was adopted by the Board and shall
not be more than 60 days prior to such action.

 

(b)      Subject
to ARTICLE II, Section 12, if no such record date is fixed by the Board:

 

(i)        The
record date for determining stockholders entitled to notice of and to vote at a meeting of stockholders shall be at the close of business
on the day next preceding the day on which notice is given or, if notice is waived, at the close of business on the day next preceding
the day on which the meeting is held;

 

(ii)       The
record date for determining stockholders entitled to express consent to corporate action in writing without a meeting (when permitted
by, and unless otherwise provided in, the Certificate of Incorporation), when no prior action by the Board is required by applicable
law, shall be the first day on which a signed written consent setting forth the action taken or proposed to be taken is delivered to
the Corporation in accordance with applicable law; and when prior action by the Board is required by applicable law, the record date
for determining stockholders entitled to express consent to corporate action in writing without a meeting shall be at the close of business
on the date on which the Board takes such prior action; and

 

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(iii)         The
record date for the purposes of determining the stockholders entitled to receive payment of any dividend or other distribution or allotment
of any rights, exercise any rights in respect of any change, conversion or exchange of stock or take any other lawful action shall be
at the close of business on the day on which the Board adopts the resolution relating thereto.

 

(c)         When
a determination of stockholders of record entitled to notice of or to vote at any meeting of stockholders has been made as provided in
this ARTICLE II, Section 4, such determination shall apply to any adjournment thereof, unless the Board fixes a new
Voting Record Date for the adjourned meeting, in which case the Board shall also fix such Voting Record Date or a date earlier than such
date as the new Notice Record Date for the adjourned meeting.

 

Section 5     Notice
of Meetings of Stockholders. Whenever under the provisions of applicable law, the Certificate of Incorporation or these By-laws,
stockholders are required or permitted to take any action at a meeting, a notice of the meeting in the form of a writing or electronic
transmission shall be given stating the place, if any, date and hour of the meeting, the means of remote communication, if any, by which
stockholders and proxy holders may be deemed to be present in person and vote at such meeting, the Notice Record Date and the Voting
Record Date, if such date is different from the Notice Record Date, and, in the case of a special meeting, the purposes for which the
meeting is called. Unless otherwise provided by these By-laws or applicable law, notice of any meeting shall be given, not less than
ten nor more than 60 days before the date of the meeting, to each stockholder entitled to vote at such meeting as of the Notice Record
Date. If mailed, such notice shall be deemed to be given when deposited in the U.S. mail, with postage prepaid, directed to the stockholder
at his or her address as it appears on the records of the Corporation. If given by electronic mail, such notice shall be deemed to be
given when directed to such stockholder’s electronic mail address unless the stockholder has notified the Corporation in writing
or by electronic transmission of an objection to receiving notice by electronic mail or such notice is prohibited pursuant to the terms
of the Delaware General Corporation Law (as amended from time to time, the “DGCL”). A notice by electronic mail must
include a prominent legend that the communication is an important notice regarding the Corporation. An affidavit of the Secretary or
the transfer agent of the Corporation that the notice required by this ARTICLE II, Section 5 has been given shall, in
the absence of fraud, be prima facie evidence of the facts stated therein. If a meeting is adjourned to another time or place, notice
need not be given of the adjourned meeting if the time and place, if any, thereof, and the means of remote communication, if any, by
which stockholders and proxy holders may be deemed to be present in person and vote at such adjourned meeting are announced at the meeting
at which the adjournment is taken. Any business that might have been transacted at the meeting as originally called may be transacted
at the adjourned meeting. If, however, the adjournment is for more than 30 days, or if after the adjournment a new Notice Record Date
is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at
the meeting. If after the adjournment a new Voting Record Date is fixed for the adjourned meeting, the Board shall fix a new Notice Record
Date in accordance with ARTICLE II, Section 4(c) hereof and shall give notice of such adjourned meeting to each
stockholder entitled to vote at such meeting as of the Notice Record Date.

 

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Section 6     Waivers
of Notice. Whenever the giving of any notice to stockholders is required by applicable law, the Certificate of Incorporation
or these By-laws, a written waiver, signed by the stockholder entitled to notice, or a waiver by electronic transmission by such stockholder,
whether before or after the event as to which such notice is required, shall be deemed equivalent to notice. Attendance by a stockholder
at a meeting shall constitute a waiver of notice of such meeting except when the stockholder attends a meeting for the express purpose
of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting has not been lawfully
called or convened. Neither the business to be transacted at, nor the purposes of, any regular or special meeting of the stockholders
need be specified in any waiver of notice.

 

Section 7     List
of Stockholders. The Secretary shall prepare and make, at least ten days before every meeting of stockholders, a complete, alphabetical
list of the stockholders entitled to vote at the meeting, and showing the address of each stockholder and the number of shares registered
in the name of each stockholder. Such list may be examined by any stockholder, at the stockholder’s expense, for any purpose germane
to the meeting, for a period of at least ten days prior to the meeting, during ordinary business hours at the principal place of business
of the Corporation or on a reasonably accessible electronic network as provided by applicable law. If the meeting is to be held at a
place, the list shall also be produced and kept at the time and place of the meeting during the whole time thereof and may be inspected
by any stockholder who is present. If the meeting is held solely by means of remote communication, the list shall also be open for inspection
as provided by applicable law. Except as provided by applicable law, the stock ledger shall be the only evidence as to who are the stockholders
entitled to examine the list of stockholders or to vote in person or by proxy at any meeting of stockholders.

 

Section 8     Quorum
of Stockholders; Adjournment. Except as otherwise provided by these By-laws, at each meeting of stockholders, the presence in
person or represented by proxy of the holders of a majority of the voting power of all outstanding shares of stock entitled to vote at
the meeting of stockholders shall constitute a quorum for the transaction of any business at such meeting. In the absence of a quorum,
the person presiding over the meeting in accordance with ARTICLE II, Section 11 or, in the absence of such person, the
holders of a majority of the voting power of the shares of stock present in person or represented by proxy at any meeting of stockholders,
including an adjourned meeting, may adjourn such meeting to another time or place. Shares of its own stock belonging to the Corporation
or to another corporation, if a majority of the shares entitled to vote in the election of directors of such other corporation is held,
directly or indirectly, by the Corporation, shall neither be entitled to vote nor be counted for quorum purposes; provided, however,
that the foregoing shall not limit the right of the Corporation to vote stock, including but not limited to its own stock, held by it
in a fiduciary capacity.

 

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Section 9     Voting;
Proxies. At any meeting of stockholders, all matters other than the election of directors, except as otherwise provided by the
Certificate of Incorporation, these By-laws or any applicable law, shall be decided by the affirmative vote of a majority of the voting
power of shares of stock present in person or represented by proxy and entitled to vote thereon. At all meetings of stockholders at which
directors are to be elected and a quorum is present, a plurality of the votes cast by stockholders entitled to vote for the election
of such directors shall be sufficient to elect such directors. Each stockholder entitled to vote at a meeting of stockholders may authorize
another person or persons to act for such stockholder by proxy but no such proxy shall be voted or acted upon after three years from
its date, unless the proxy provides for a longer period. A proxy shall be irrevocable if it states that it is irrevocable and if, and
only so long as, it is coupled with an interest sufficient in law to support an irrevocable power. A stockholder may revoke any proxy
that is not irrevocable by attending the meeting and voting in person or by delivering to the Secretary a revocation of the proxy or
by delivering a new duly authorized proxy bearing a later date.

 

Section 10     Voting
Procedures and Inspectors at Meetings of Stockholders. The Board, in advance of any meeting of stockholders, shall appoint one
or more inspectors, who may be employees of the Corporation, to act at the meeting and make a written report thereof. The Board may designate
one or more persons as alternate inspectors to replace any inspector who fails to act. If no inspector or alternate is able to act at
a meeting, the person presiding at the meeting shall appoint one or more inspectors to act at the meeting. Each inspector, before entering
upon the discharge of his or her duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality
and according to the best of his or her ability. The inspectors shall (a) ascertain the number of shares outstanding and the voting
power of each, (b) determine the shares represented at the meeting and the validity of proxies and ballots, (c) count all votes
and ballots, (d) determine and retain for a reasonable period a record of the disposition of any challenges made to any determination
by the inspectors and (e) certify their determination of the number of shares represented at the meeting and their count of all
votes and ballots. The inspectors may appoint or retain other persons or entities to assist the inspectors in the performance of their
duties. Unless otherwise provided by the Board, the date and time of the opening and the closing of the polls for each matter upon which
the stockholders will vote at a meeting shall be determined by the person presiding at the meeting and shall be announced at the meeting.
No ballot, proxies, votes or any revocation thereof or change thereto shall be accepted by the inspectors after the closing of the polls
unless the Court of Chancery of the State of Delaware upon application by a stockholder shall determine otherwise. In determining the
validity and counting of proxies and ballots cast at any meeting of stockholders, the inspectors may consider such information as is
permitted by applicable law. No person who is a candidate for office at an election may serve as an inspector at such election.

 

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Section 11     Conduct
of Meetings; Adjournment. The Board may adopt such rules and procedures for the conduct of stockholder meetings as it deems
appropriate. At each meeting of stockholders, any officer of the Corporation designated by the Board or, in the absence of such person,
the Chief Executive Officer or, in the absence of the Chief Executive Officer, the Chair shall preside over the meeting. Except to the
extent inconsistent with the rules and procedures as adopted by the Board, the person presiding over the meeting of stockholders
shall have the right and authority to convene, adjourn and reconvene the meeting from time to time, to prescribe such additional rules and
procedures and to do all such acts as, in the judgment of such person, are appropriate for the proper conduct of the meeting. Such rules and
procedures, whether adopted by the Board or prescribed by the person presiding over the meeting, may include (a) the establishment
of an agenda or order of business for the meeting, (b) rules and procedures for maintaining order at the meeting and the safety
of those present, (c) limitations on attendance at or participation in the meeting to stockholders of record of the Corporation,
their duly authorized and constituted proxies or such other persons as the person presiding over the meeting shall determine, (d) restrictions
on entry to the meeting after the time fixed for the commencement thereof and (e) limitations on the time allotted to questions
or comments by participants. Subject to any prior, contrary determination by the Board, the person presiding over any meeting of stockholders,
in addition to making any other determinations that may be appropriate to the conduct of the meeting, may determine and declare to the
meeting that a matter or business was not properly brought before the meeting and any such matter or business not properly brought before
the meeting shall not be transacted or considered. Unless and to the extent determined by the Board or the person presiding over the
meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure. The
Secretary shall act as secretary of the meeting. If none of the officers above designated to act as the person presiding over the meeting
or as secretary of the meeting shall be present, a person presiding over the meeting or a secretary of the meeting, as the case may be,
shall be designated by the Board and, if the Board has not so acted, in the case of the designation of a person to act as secretary of
the meeting, designated by the person presiding over the meeting.

 

Section 12     Remote
Meetings. If authorized by the Board in its sole discretion, and subject to such guidelines and procedures as the Board may adopt,
stockholders and proxyholders not physically present at a meeting of stockholders may, by means of remote communication:

 

(a)       participate
in a meeting of stockholders; and

 

(b)       be
deemed present in person and vote at a meeting of stockholders whether such meeting is to be held at a designated place or solely by
means of remote communication; provided, that (i) the Corporation shall implement reasonable measures to verify that each
person deemed present and permitted to vote at the meeting by means of remote communication is a stockholder or proxyholder, (ii) the
Corporation shall implement reasonable measures to provide such stockholders and proxyholders a reasonable opportunity to participate
in the meeting and to vote on matters submitted to the stockholders, including an opportunity to read or hear the proceedings of the
meeting substantially concurrently with such proceedings, and (iii) if any stockholder or proxyholder votes or takes other action
at the meeting by means of remote communication, a record of such vote or other action shall be maintained by the Corporation.

 

ARTICLE III

 

DIRECTORS

 

Section 1     Power;
Number and Tenure. The business and affairs of the Corporation shall be managed by the Board, the number thereof to be determined
in accordance with the Certificate of Incorporation. The Board may adopt such rules and procedures, not inconsistent with the Certificate
of Incorporation, these By-Laws or applicable law, as it may deem proper for the conduct of its meetings and the management of the Corporation.

 

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Section 2     Election;
Resignation. Directors shall be elected for such terms and in accordance with the Certificate of Incorporation and applicable
law. Each director shall hold office until such director’s successor is duly elected and qualified, or until such director’s
earlier death, resignation, disqualification or removal. Any director may resign at any time by giving notice in writing or by electronic
transmission thereof to the Corporation. The resignation of any director shall be effective when the resignation is delivered, unless
the resignation specifies a later effective date or an effective date determined upon the happening of an event or events; and, unless
otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

 

Section 3     Nominations
of Directors.

 

(a)         Subject
to ARTICLE III, Section 3(k), only persons who are nominated in accordance with the procedures set forth in this ARTICLE III,
Section 3 are eligible for election as directors.

 

(b)         Director
nominations may only be made at a meeting properly called for the election of directors and only (i) by or at the direction of the
Board or any committee thereof or (ii) by a stockholder who (A) was a stockholder of record of the Corporation when the notice
required by this ARTICLE III, Section 3 is delivered to the Secretary of the Corporation and at the time of the meeting,
(B) is entitled to vote for the election of directors at the meeting and (C) complies with the notice and other provisions
of this ARTICLE III, Section 3. Subject to ARTICLE III, Section 3(k), ARTICLE III, Section 3(b)(ii) is
the exclusive means by which a stockholder may nominate a person for election to the Board. Persons nominated in accordance with ARTICLE III,
Section 3(b)(ii) are referred to as “Stockholder Nominees”. A stockholder nominating a director for
election to the Board is referred to as the “Nominating Stockholder”.

 

(c)         Subject
to ARTICLE III, Section 3(k), all nominations of Stockholder Nominees must be made by timely written notice given by
or on behalf of a stockholder of record of the Corporation (the “Notice of Nomination”). To be timely, the Notice
of Nomination must be delivered personally or mailed to and received at the executive office of the Corporation, addressed to the attention
of the Secretary of the Corporation, by the following dates:

 

(i)       in
the case of the nomination of a Stockholder Nominee for election to the Board at an annual meeting of stockholders, no earlier than 120
days and no later than 90 days before the first anniversary of the date of the prior year’s annual meeting of stockholders; provided,
however, that if (A) the annual meeting of stockholders is advanced by more than 30 days, or delayed by more than 60
days, from the first anniversary of the prior year’s annual meeting of stockholders, (B) no annual meeting was held during
the prior year or (C) in the case of the Corporation’s first annual meeting of stockholders as a corporation with a class
of equity security registered under the Exchange Act, the notice by the stockholder to be timely must be received (1) no earlier
than 120 days before such annual meeting and (2) no later than the later of 90 days before such annual meeting and the tenth day
after the day on which the notice of such annual meeting was first made by mail or Public Disclosure, and

 

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(ii)       in
the case of the nomination of a Stockholder Nominee for election to the Board at a special meeting of stockholders, no earlier than 120
days before and no later than the later of 90 days before such special meeting and the tenth day after the day on which the notice of
such special meeting was first made by mail or Public Disclosure.

 

(d)         Notwithstanding
anything to the contrary, if the number of directors to be elected to the Board at a meeting of stockholders is increased and there is
no Public Disclosure by the Corporation naming the nominees for the additional directorships at least 100 days before the first anniversary
of the preceding year’s annual meeting, a Notice of Nomination shall also be considered timely, but only with respect to nominees
for the additional directorships, if it shall be delivered personally and received at the executive office of the Corporation, addressed
to the attention of the Secretary of the Corporation, no later than the close of business on the tenth day following the day on which
such Public Disclosure is first made by the Corporation.

 

(e)         In
no event shall an adjournment, postponement or deferral, or Public Disclosure of an adjournment, postponement or deferral, of an annual
or special meeting commence a new time period (or extend any time period) for the giving of the Notice of Nomination.

 

(f)          The
Notice of Nomination shall set forth:

 

(i)        the
Stockholder Information with respect to each Nominating Stockholder and Stockholder Associated Person (except that references to the
 “Proponent” in ARTICLE II, Section 2(d)(i) to (iii) shall instead refer to the “Nominating
Stockholder,” and the disclosure required by ARTICLE II, Section 2(d)(iii)(C) may be omitted, for purposes
of this ARTICLE III, Section 3(f)(i));

 

(ii)       a
representation that each Nominating Stockholder is a holder of record of stock of the Corporation entitled to vote at the meeting and
intends to appear in person or by proxy at the meeting to propose such nomination;

 

(iii)      all
information regarding each Stockholder Nominee and Stockholder Associated Person that would be required to be disclosed in a solicitation
of proxies subject to Section 14 of the Exchange Act, the written consent of each Stockholder Nominee to being named in a proxy
statement as a nominee and to serve if elected and a completed signed questionnaire, representation and agreement required by ARTICLE III,
Section 4;

 

(iv)      a
description of all direct and indirect compensation and other material monetary agreements, arrangements and understandings during the
past three years, and any other material relationships, between or among a Nominating Stockholder, Stockholder Associated Person or their
respective associates, or others acting in concert therewith, including all information that would be required to be disclosed pursuant
to Rule 404 promulgated under Regulation S-K if the Nominating Stockholder, Stockholder Associated Person or any person acting in
concert therewith, were the “registrant” for purposes of such rule and the Stockholder Nominee were a director or executive
of such registrant;

 

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(v)        a
representation as to whether the Nominating Stockholders intends (A) to deliver a proxy statement and form of proxy to holders of
at least the percentage of the Corporation’s outstanding capital stock required to approve the nomination or (B) otherwise
to solicit proxies from stockholders in support of such nomination;

 

(vi)       all
other information that would be required to be filed with the SEC if the Nominating Stockholders and Stockholder Associated Person were
participants in a solicitation subject to Section 14 of the Exchange Act; and

 

(vii)      a
representation that the Nominating Stockholders shall provide any other information reasonably requested by the Corporation.

 

(g)         The
Nominating Stockholders shall also provide any other information reasonably requested from time to time by the Corporation within ten
business days after each such request.

 

(h)         In
addition, the Nominating Stockholder shall affirm as true and correct the information provided to the Corporation in the Notice of Nomination
or at the Corporation’s request pursuant to ARTICLE III, Section 3(g) (and shall update or supplement such
information as needed so that such information shall be true and correct) as of (i) the record date for the meeting, (ii) the
date that is ten calendar days before the first anniversary date of the Corporation’s proxy statement released to stockholders
in connection with the previous year’s annual meeting (in the case of an annual meeting) or 50 days before the date of the meeting
(in the case of a special meeting) and (iii) the date that is ten business days before the date of the meeting or any adjournment
or postponement thereof. Such affirmation, update and/or supplement must be delivered personally or mailed to, and received at the executive
office of the Corporation, addressed to the Secretary of the Corporation, by no later than (1) five business days after the applicable
date specified in clause (i) or (ii) of the foregoing sentence (in the case of the affirmation, update and/or supplement required
to be made as of those dates), and (2) not later than seven business days before the date for the meeting (in the case of the affirmation,
update and/or supplement required to be made as of ten business days before the meeting or reconvening any adjournment or postponement
thereof).

 

(i)          The
person presiding over the meeting shall, if the facts warrant, determine and declare to the meeting, that the nomination was not made
in accordance with the procedures set forth in this ARTICLE III, Section 3. Any such defective nomination shall be disregarded.

 

(j)          If
the Nominating Stockholder (or a qualified representative of the Nominating Stockholder) does not appear at the applicable stockholder
meeting to nominate the Stockholder Nominees, such nomination shall be disregarded and such Stockholder Nominees shall not be qualified
for election as Directors, notwithstanding that proxies in respect of such vote may have been received by the Corporation. For purposes
of this ARTICLE III, Section 3, to be considered a qualified representative of the Nominating Stockholder, a person
must be a duly authorized officer, manager or partner of such Nominating Stockholder or must be authorized by a writing executed by such
Nominating Stockholder or an electronic transmission delivered by such Nominating Stockholder to act for such Nominating Stockholder
as proxy at the meeting of stockholders and such person must produce such writing or electronic transmission, or a reliable reproduction
of the writing or electronic transmission, at the meeting of stockholders.

 

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(k)       Nothing
in this ARTICLE III, Section 3 shall be deemed to affect any rights of the holders of any series of preferred stock
of the Corporation pursuant to any applicable provision of the Certificate of Incorporation.

 

Section 4     Nominee
Qualifications. To be eligible to be a nominee for election or reelection as a director, the nominee must deliver (in accordance
with the time periods prescribed for delivery of a Notice of Nomination under ARTICLE III, Section 3 (in the case of
a Stockholder Nominee) or in accordance with any time periods required from time to time by any policy of the Board or Corporation generally
applicable to all Directors (in the case of a person nominated by or at the direction of the Board or any committee thereof)) to the
Secretary of the Corporation at the executive office of the Corporation (a) a completed and signed written questionnaire (in the
form provided by the Secretary upon written request) with respect to the background and qualification of such person and the background
of any other person or entity on whose behalf the nomination is being made, (b) information as necessary to permit the Board to
determine if each such nominee (i) is independent under applicable listing standards, any applicable rules of the SEC and any
publicly disclosed standards used by the Board in determining and disclosing the independence of the directors, (ii) is not or has
not been, within the past three years, an officer or director of a competitor, as defined in Section 8 of the Clayton Antitrust
Act of 1914, as amended, or (iii) is not a named subject of a pending criminal proceeding (excluding traffic violations and other
minor offenses) or has been convicted in a criminal proceeding within the past ten years, (c) a written representation and agreement
(in the form provided by the Secretary of the Corporation upon written request) that such person (i) is not and will not become
a party to (A) any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or
entity as to how such person will act or vote as a Director on any issue or question (a “Voting Commitment”) that
has not been disclosed to the Corporation or (B) any Voting Commitment that could limit or interfere with such person’s ability
to comply with such person’s fiduciary duties as a Director under applicable law, (ii) is not and will not become a party
to any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect
compensation, reimbursement or indemnification in connection with service or action as a director that has not been disclosed to the
Corporation, (iii) will comply with all applicable publicly disclosed corporate governance, conflict of interest, confidentiality
and stock ownership and trading and other policies and guidelines of the Corporation that are applicable to directors and (iv) currently
intends to serve as a director for the full term for which he or she is standing for election and (d) such person’s written
consent to being named as a nominee for election of a Director and to serving as a Director if elected.

 

Section 5     Vacancies.
Any vacancy occurring on the Board shall be filled in the manner prescribed in the Certificate of Incorporation.

 

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Section 6     Regular
Meetings. Regular meetings of the Board shall be held at such dates, times and places as may be designated by the Chair of the
Board or a majority of the members of the Board then in office. Notice of regular meetings need not be given if the date, times and places
thereof are fixed by resolution of the Board.

 

Section 7     Special
Meetings. Special meetings of the Board may be called by or at the request of the Chair of the Board, the Chief Executive Officer
or a majority of the members of the Board then in office. The person or persons calling a special meeting of the Board may fix a place
and time within or without the State of Delaware for holding such meeting.

 

Section 8     Notice.
Notice of any regular meeting or special meeting shall be given to each director, either orally, by facsimile or other means of electronic
communication or by hand delivery, addressed to each director at his or her address as it appears on the records of the Corporation.
If notice be by facsimile or other means of electronic communication, such notice shall be deemed to be adequately delivered when the
notice is transmitted at least 24 hours before such meeting. If by telephone or by hand delivery, the notice shall be given at least
24 hours prior to the time set for the meeting. Neither the business to be transacted at, nor the purpose of, any regular or special
meeting of the Board need be specified in the notice of such meeting.

 

Section 9     Waiver
of Notice. Whenever the giving of any notice to directors is required by applicable law, the Certificate of Incorporation or
these By-laws, a written waiver signed by the director, or a waiver by electronic transmission by such director, whether before or after
such notice is required, shall be deemed equivalent to notice. Attendance by a director at a meeting shall constitute a waiver of notice
of such meeting except when the director attends a meeting for the express purpose of objecting, at the beginning of the meeting, to
the transaction of any business on the ground that the meeting was not lawfully called or convened. Neither the business to be transacted
at, nor the purpose of, any regular or special Board or Directors or committee meeting need be specified in any waiver of notice.

 

Section 10     Organization.
At each meeting of the Board, the Chair or, in his or her absence, another Director selected by the Board shall preside. The Secretary
shall act as secretary at each meeting of the Board. If the Secretary is absent from any meeting of the Board, the person presiding at
the meeting may appoint any person to act as secretary of the meeting.

 

Section 11     Quorum.
At all meetings of the Board, a majority of the total number of directors then in office shall constitute a quorum for the transaction
of business; provided, however, that in no case shall a quorum consist of less than one-third of the total number of directors
that the Corporation would have if there were no vacancies on the Board or unfilled newly-created directorships.

 

Section 12     Adjourned
Meetings. A majority of the directors present at any meeting of the Board, including an adjourned meeting, whether or not a quorum
is present, may adjourn and reconvene such meeting to another time and place. Notice of any adjourned meeting of the Board shall be given
to each director whether or not present at the time of the adjournment; provided, however, that notice of the adjourned meeting need
not be given if (a) the adjournment is for 24 hours or less and (b) the time, place, if any, and means of remote communication,
if any, are announced at the meeting at which the adjournment is taken. Any business may be transacted at an adjourned meeting that might
have been transacted at the meeting as originally called.

 

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Section 13     Action
by Majority Vote. Except as otherwise expressly required by these By-laws or the Certificate of Incorporation, the vote of a
majority of the directors present at a meeting at which a quorum is present shall be the act of the Board.

 

Section 14     Action
Without Meeting. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be
taken without a meeting if all members of the Board or such committee, as the case may be, consent thereto in writing or by electronic
communication and such written consent or consents and copies of such communication or communications are filed with the minutes of proceedings
of the Board or committee.

 

Section 15     Action
by Conference Telephone. Members of the Board or any committee thereof may participate in a meeting of such Board or committee
by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear
each other at the same time, and such participation in a meeting shall constitute presence in person at such meeting.

 

Section 16     Committees.
The Board may from time to time designate one or more committees of the Board in accordance with Section 141(c) of the
DGCL. Unless the Board provides otherwise, at all meetings of such committee, a majority of the then authorized number of members of
the committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the committee present
at any meeting at which there is a quorum shall be the act of the committee. Each committee shall keep regular minutes of its meetings.
Unless the Board provides otherwise, each committee designated by the Board may make, alter and repeal rules and procedures for
the conduct of its business. In the absence of such rules and procedures each committee shall conduct its business in the same manner
as the Board conducts its business pursuant to this ARTICLE III.

 

Section 17     Chair
of the Board. The Corporation may have, at the discretion of the Board, a Chair of the Board who shall be elected by the Board
from their own numbers and shall preside as Chair at all meetings of the stockholders and of the Board. The Chair shall have such other
powers and duties as provided in these By-laws and as the Board may from time to time prescribe.

 

ARTICLE IV

 

OFFICERS

 

Section 1     Positions;
Election. The elected officers of the Corporation shall be chosen by the Board and may include a Chief Executive Officer, a President,
a Chief Financial Officer, and a Secretary, all of whom shall be elected by the Board. All officers elected by the Board shall each have
such powers and duties as generally pertain to their respective offices, subject to the specific provisions of this ARTICLE IV.
Such officers shall also have such powers and duties as from time to time may be conferred by the Board or by any committee thereof.
In addition, the Board or any committee thereof may from time to time elect, or the Chief Executive Officer may appoint, such other officers
(including one or more Vice Presidents, Assistant Secretaries, Treasurers and Controllers) and such agents, as may be necessary or desirable
for the conduct of the business of the Corporation. Any number of offices may be held by the same person. Such other officers and agents
shall have such duties and shall hold their offices for such terms as shall be provided in these By-Laws or as may be prescribed by the
Board or such committee or by the Chief Executive Officer, as the case may be.

 

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Section 2     Term
of Office; Resignation; Removal. Each officer of the Corporation shall hold office until such officer’s successor is elected
by the Board or until such officer’s earlier death, resignation or removal. Any officer may resign at any time upon written notice
to the Corporation. Such resignation shall take effect at the time of receipt of such notice or at such later time, or at such later
time determined upon the happening of an event, as is therein specified. The resignation of an officer shall be without prejudice to
the contract rights of the Corporation, if any. Any officer may be removed at any time with or without cause by the Board. Any vacancy
occurring in any office of the Corporation may be filled by the Board. The election or appointment of an officer shall not of itself
create contract rights.

 

Section 3     Chief
Executive Officer. The Chief Executive Officer shall have general supervision over the business of the Corporation and other
duties incident to the office of Chief Executive Officer, and any other duties as may from time to time be assigned to the Chief Executive
Officer by the Board and subject to the control of the Board in each case.

 

Section 4     President.
The President shall act in a general executive capacity and shall assist the Chief Executive Officer in the administration and operation
of the Corporation’s business and general supervision of its policies and affairs and shall, in general, perform all duties incident
to the office of President of a corporation and such other duties as may from time to time be assigned to the President by the Board
or the Chief Executive Officer.

 

Section 5     Chief
Financial Officer. The Chief Financial Officer shall act in an executive financial capacity. The Chief Financial Officer shall
assist the Chief Executive Officer and the President in the general supervision of the Corporation’s financial policies and affairs.
The Chief Financial Officer shall, in general, perform all duties incident to the office of Chief Financial Officer of a corporation
and such other duties as may from time to time be assigned to the Chief Financial Officer by the Board or the Chief Executive Officer.

 

Section 6     Secretary.
The Secretary shall record all the proceedings of the meetings of the Board and of the stockholders in a book to be kept for that
purpose and perform like duties for committees of the Board, when required. The Secretary shall give, or cause to be given, notice of
all special meetings of the Board and all meetings of the stockholders and, in general, perform all duties incident to the office of
secretary of a corporation and such other duties as may from time to time be assigned to the Secretary by the Board or the Chief Executive
Officer.

 

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Section 7     Actions
with Respect to Securities of Other Entities. All stock and other securities of other entities owned or held by the Corporation
for itself, or for other parties in any capacity, shall be voted (including by written consent), and all proxies with respect thereto
shall be executed, by the person or persons authorized to do so by resolution of the Board or, in the absence of such authorization,
by the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer, the Secretary or the Treasurer.
The authority granted herein may be exercised either by such person directly or by any other person authorized to do so by proxy or power
of attorney duly executed by the person having such authority.

 

ARTICLE V

 

CERTIFICATES OF STOCK

 

Section 1     Certificates
Representing Shares. The shares of stock of the Corporation shall be represented by certificates, provided that the Board may
provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. If
shares are represented by certificates (if any) such certificates shall be in the form approved by the Board. Every holder of stock represented
by certificates shall be entitled to have a certificate signed by, or in the name of, the Corporation by any two authorized officers
of the Corporation. Any or all such signatures may be facsimiles. Although any officer, transfer agent or registrar whose manual or facsimile
signature is affixed to such a certificate ceases to be such officer, transfer agent or registrar before such certificate has been issued,
it may nevertheless be issued by the Corporation with the same effect as if such officer, transfer agent or registrar were still such
at the date of its issue.

 

Section 2     Transfer
and Registry Agents. The Corporation may from time to time maintain one or more transfer offices or agents and registry offices
or agents at such place or places as may be determined from time to time by the Board.

 

Section 3     Lost,
Stolen or Destroyed Certificates. The Corporation may issue a new certificate of stock in the place of any certificate theretofore
issued by it, alleged to have been lost, stolen or destroyed, and the Corporation may require the owner of the lost, stolen or destroyed
certificate or his legal representative to give the Corporation a bond sufficient to indemnify it against any claim that may be made
against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate.

 

ARTICLE VI

 

GENERAL PROVISIONS

 

Section 1     Fiscal
Year. The fiscal year of the Corporation shall be established by the Board.

 

Section 2     Seal.
The Corporation may have a corporate seal, which shall be in such form as may be approved from time to time by the Board. The seal may
be used by causing it or a facsimile thereof to be impressed or affixed or otherwise reproduced.

 

Section 3     Form of
Records. Any records administered by or on behalf of the Corporation in the regular course of its business, including its stock
ledger, books of account, and minute books, may be kept on, or by means of, or be in the form of, any information storage device, method,
or one or more electronic networks or databases (including one or more distributed electronic networks or databases); provided that the
records so kept can be converted into clearly legible paper form within a reasonable time, and, with respect to the stock ledger, that
the records so kept (i) can be used to prepare the list of stockholders specified in Sections 219 and 220 of the DGCL, (ii) record
the information specified in Sections 156, 159, 217(a) and 218 of the DGCL and (iii) record transfers of stock as governed
by Article 8 of the Uniform Commercial Code as enacted in the State of Delaware, 6 Del. C. §§8-101 et seq. The Corporation
shall convert any records so kept into clearly legible paper form upon the request of any person entitled to inspect such records pursuant
to any provision of the DGCL.

 

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Section 4     Conflict
with Applicable Law or Certificate of Incorporation. These By-laws are adopted subject to any applicable law and the Certificate
of Incorporation. Whenever these By-laws may conflict with any applicable law or the Certificate of Incorporation, such conflict shall
be resolved in favor of such law or the Certificate of Incorporation.

 

ARTICLE VII

 

AMENDMENTS

 

Any alteration, amendment or repeal of these By-Laws
may be made in the manner provided by the Certificate of Incorporation and applicable law.

 

    18

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