Document:

Exhibit 48

		
			Exhibit 4.8
		

		
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			DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934
		

		
			 
		

		
			The following description of the common stock of Tutor Perini Corporation (“we,” “us” and “our”) is not complete and is qualified in its entirety by reference to our Restated Articles of Organization, as amended (“Articles of Organization”), and our Third Amended and Restated By-Laws (“By-Laws”) each of which is incorporated by reference as an exhibit to this Annual Report on Form 10-K. The terms of our common stock are also subject to and qualified by certain provisions of the Massachusetts General Laws.
		

		
			 
		

		
			Authorized Capital Stock
		

		
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			Our authorized capital stock consists of 75,000,000 shares of common stock, $1.00 par value per share, and 1,000,000 shares of preferred stock, $1.00 par value per share.
		

		
			 
		

		
			Common Stock
		

		
			 
		

		
			Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of our shareholders and do not have cumulative voting rights.
		

		
			 
		

		
			If a quorum of a voting group exists at a meeting of shareholders, favorable action on a matter, other than the election of a member of our board of directors, is taken by a voting group if the votes cast within the group favoring the action exceed the votes cast opposing the action, unless a greater number of affirmative votes is required by law, our Articles of Organization, our By-Laws or, to the extent authorized by law, a resolution of our board of directors. If a quorum of a voting group exists at a meeting of shareholders, directors shall be elected by a plurality of the votes cast by the shares entitled to vote in the election.  
		

		
			 
		

		
			Holders of our common stock are entitled to receive any dividends as may be declared by our board of directors out of funds legally available therefor, subject to any preferential dividend rights of outstanding preferred stock.
		

		
			 
		

		
			In the event of our liquidation, dissolution or winding up, the holders of our common stock are entitled to receive ratably our assets remaining available after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock. Holders of our common stock have no preemptive, subscription, redemption or conversion rights. The rights, preferences and privileges of holders of our common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock that our board of directors may establish, designate and issue in the future.  
		

		
			 
		

		
			Certain Effects of Authorized but Unissued Stock
		

		
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			We have shares of common stock and preferred stock available for future issuance without shareholder approval. We may utilize these additional shares for a variety of corporate purposes, including future public offerings to raise additional capital or facilitate corporate acquisitions or for payment as a dividend on the capital stock. The existence of unissued and unreserved common stock and preferred stock may enable our board of directors to issue shares to persons friendly to current management or to issue preferred stock with terms that could render more difficult or discourage a third-party attempt to obtain control of us by means of a merger, tender offer, proxy contest or otherwise, thereby protecting the continuity of our management. In addition, if we issue preferred stock, the issuance could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and payments upon liquidation.
		

		
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			Amended Shareholders Agreement
		

		
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			Effective September 8, 2008 upon completion of the merger with Tutor-Saliba Corporation (“Tutor-Saliba”), we entered into a shareholders agreement (as subsequently amended, the “Amended Shareholders Agreement”) pursuant to which Ronald N. Tutor (as the representative of the former Tutor-Saliba shareholders) has the right to designate two nominees for election to the board of directors if Mr. Tutor and the three trusts he controls (the “Tutor Group”) own at least 22.5% of the outstanding shares of our common stock and one nominee if the Tutor Group owns less than 22.5% but at least 11.25% of the outstanding shares of our common stock.
		

		
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		Provisions of Our Articles of Organization, Our By-Laws and the Massachusetts General Laws That May Have Anti-Takeover Effects
		

		
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			Removal of Directors by Shareholders.  Our By-Laws provide that members of our board of directors may be removed (a) with or without cause by vote of the holders of a majority of the voting power of the then outstanding shares of our capital stock entitled to vote generally in the election of directors, voting together as a single class or (b) for cause by a vote of a majority of our directors then in office.
		

		
			 
		

		
			Advance Notice Requirements for Shareholder Proposals and Director Nominations.  Our By-Laws provide that nominations for election to our board of directors may be made either by our board of directors or by one of our shareholders who complies with specified notice provisions. Our By-Laws contain similar advance notice provisions for shareholder proposals for action at shareholder meetings.
		

		
			 
		

		
			Special Meeting of Shareholders.  Our By-Laws impose restrictions and limitations on the ability of shareholders to call special meetings of shareholders. Requests for shareholder meetings must be made by shareholders holding at least 25% in interest of the capital stock entitled to vote at such meeting.
		

		
			 
		

		
			Action by Consent of Shareholders.  Our By-Laws provide that any action to be taken by shareholders may be taken without a meeting if all shareholders entitled to vote on the matter consent to the action in writing.
		

		
			 
		

		
			Business Combinations with Interested Shareholders.  The Massachusetts General Laws contain anti-takeover provisions regarding, among other things, business combinations with an affiliated shareholder. In general, the Massachusetts General Laws prevent a publicly held Massachusetts corporation from engaging in a business combination, as defined in the Massachusetts General Laws, with an interested shareholder for a period of three years after the date of the transaction in which the person became an interested shareholder, unless:
		

		
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			before the date on which the person became an interested shareholder, the board of directors of the corporation approved either the business combination or the transaction in which the person became an interested shareholder;

			
	
			
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			the interested shareholder acquired at least 90% of the outstanding voting stock of the corporation at the time it became an interested shareholder; or

			
	
			
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			the business combination is approved by the board of directors and the holders of at least two-thirds of the outstanding voting stock of the corporation voting at a meeting, excluding the voting stock owned by the interested shareholder.

		
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			An interested shareholder is generally a person owning 5% or more of the outstanding voting stock of the corporation. A business combination includes mergers, consolidations, stock and asset sales and other transactions with the interested shareholder that result in a financial benefit to the interested shareholder. 
		

		
			Control Share Acquisitions.  We have elected to opt out of the control share acquisitions provisions of the Massachusetts General Laws. We could, however, opt into the control share acquisitions provisions at any time by amending our By-Laws.
		

		
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			In general, the control share acquisitions provisions of the Massachusetts General Laws provide that any person, including his, her or its affiliates, who acquires shares of a corporation that are subject to the control share acquisitions statute and whose shares represent one-fifth or more of the voting power of the corporation in the election of directors cannot exercise any voting power with respect to those shares, or any shares acquired by the person within 90 days before or after an acquisition of this nature, unless these voting rights are authorized by the shareholders of the corporation.
		

		
			 
		

		
			The authorization of voting rights requires the affirmative vote of the holders of a majority of the outstanding voting shares, excluding shares owned by:
		

		
			 
		

			
	
			
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			the person making an acquisition of this nature;

			
	
			
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			any officer of the corporation; and

			
	
			
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			any employee who is also a director of the corporation.

		
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			There are several other types of share acquisitions that are not subject to these provisions of the Massachusetts General Laws, including acquisitions of shares under a tender offer, merger or consolidation that is made in connection with an agreement to which the corporation is a party and acquisitions of shares directly from the corporation or a wholly owned subsidiary of the corporation.
		

		
			﻿EX-4.3

 Exhibit 4.3 

DESCRIPTION OF REGISTRANT’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF 

THE SECURITIES EXCHANGE ACT OF 1934 

The following is a brief description of the securities of Universal Biosensors, Inc. (“UBI”, “our company”, the
“company”, “we”, “us”, or “our”) registered pursuant to Section 12 of the Securities Exchange Act, as amended (the “Exchange Act”). We refer in this description of securities to our amended and
restated certificate of incorporation as our certificate of incorporation, and we refer to our amended and restated by-laws as our by-laws. The following description of
a capital stock does not purport to be complete and is subject to, and qualified in its entirety by, our charter and our by-laws and the applicable provisions of the Delaware General Corporation Law. For a
complete description of our capital stock, you should read our certificate of incorporation and by-laws, which are incorporated by reference as exhibits, to this Annual Report on Form 10-K. 
 General 

Our shares of common stock are not currently traded on any established United States public trading market. We have not sought the quotation of
our shares of common stock on any United States public trading market, and we cannot assure you that we will seek to be quoted on any United States public trading market or that we would meet any applicable listing requirements. Since
December 13, 2006 our shares of common stock are traded on the Australian Securities Exchange (“ASX”) in the form of CHESS Depositary Interests, or CDIs, under the ASX trading code “UBI”. 

Our authorized capital stock consists of 300,000,000 shares of common stock, par value of U.S.$0.0001 per share, and 1,000,000 shares of
undesignated preferred stock, par value of U.S.$0.01 per share. 
 Common Stock 

The rights attaching to our shares of common stock are derived through a combination of our certificate of incorporation, by-laws and the Delaware General Corporation Law and other applicable laws. Holders of our shares of common stock are entitled to notice of and to be present at and to vote at stockholder meetings. One third of the
issued shares of common stock outstanding and entitled to vote at a meeting, present in person or represented by proxy, constitute a quorum at all meetings of stockholders. Special meetings of stockholders may be called only by our board of
directors, our chairman or certain of our executive officers. There is no ability for stockholders to call a special meeting. Holders of our shares of common stock are entitled to one vote for each share held of record for the election of directors
and on all matters submitted to a vote of stockholders. Holders of our shares of common stock are entitled to receive dividends ratably, if any, as may be declared by our board of directors out of legally available funds, subject to any preferential
dividend rights of any preferred stock then outstanding and Delaware General Corporation Law. Upon our dissolution, liquidation or winding up, holders of our common stock are entitled to share ratably in our net assets legally available after the
payment of all our debts and other liabilities, subject to the preferential rights of any preferred stock then outstanding. Holders of our common stock are not entitled to cumulative voting rights with respect to the election of directors, and our
shares of common stock have no preemptive, subscription, redemption or conversion rights. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any
series of preferred stock that we may designate and issue in the future. 
 In order to allow trading of our common stock on the Australian
Securities Exchange, or ASX, CHESS Depositary Interests, or CDIs, are issued to stockholders in uncertificated form, and our certificate of incorporation and by-laws contain provisions designed to incorporate
the requirements of the listing rules of the ASX into such documents for as long as we are listed on the ASX. CDIs represent beneficial ownership of the underlying share of our common stock, the legal ownership of which is held by CHESS Depository
Nominees Pty Ltd, or CDN, which is controlled by ASX. CDIs are structured so that each of the CDIs represents one of our shares of common stock. A CDI holder may choose to either leave their holdings in the form of CDIs (so that legal title remains
in the name of CDN) or convert the CDIs into shares of common stock and hold legal title in their own right. Our shares are quoted on the ASX, but trades are settled by the delivery of CDIs. Legal title to all shares remains with CDN, unless and
until a CDI holder requests in writing a transfer of beneficially owned shares from CDN to the holder, in which case a paper transfer will be effected in accordance with our certificate of incorporation and
by-laws. We maintain a register of individual CDI holders through Registries Limited in Sydney, Australia. 

 CDI holders have the right to direct CDN on how CDN should vote. ASX rules require us to
send a notice of stockholder meetings to each CDI holder at the address recorded in the register of CDI holders. The notice must: (a) inform the holder of the holder’s rights to direct CDN on how it should vote with respect to the
resolutions in the notice; (b) provide a mechanism for the holder to direct CDN on how to vote; and (c) provide the date and time by which the holder must provide such direction to CDN. CDI holders are to receive all direct economic
benefits of the shares of common stock underlying their CDIs. Any dividend declared in respect of our shares of common stock underlying CDIs will be distributed to the CDI holders. In the event of our liquidation, dissolution or winding up, CDI
holders will be entitled to the same economic benefits on their CDIs as stockholders. 
 Preferred Stock 

Pursuant to our certificate of incorporation, without further action by the stockholders, the board of directors has the authority to issue up
to 1,000,000 shares of preferred stock, par value $0.01 per share, in one or more series (although ASX rules generally require stockholder approval for certain issuances that exceed 15% of our then outstanding capital stock in any 12 month
period without the approval of stockholders). The board of directors also has the right to fix the designations, voting powers, preferences, and relative participating, optional or other rights, any or all of which may be greater than the rights of
our shares of common stock, and any qualifications, limitations or restrictions thereof. Shares of preferred stock could thus be issued with terms that could have the effect of delaying, deferring or preventing a change of control, and such issuance
could modify the rights of the holders of our common stock otherwise than by a vote of the majority of such holders. We do not currently have any preferred stock outstanding and have no current plans to issue any preferred stock. 

Certain Provisions of our Certificate of Incorporation and By-Laws and Delaware Law 

Board Election, Composition and Vacancies. In accordance with our certificate of incorporation, our board of directors is divided into three
classes serving staggered three-year terms, with one class being elected each year. Directors are elected by a plurality of the votes of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of
directors. Our certificate of incorporation provides that our board of directors may change the size of the board; provided, that, our board shall consist of not less than three or more than nine members. Our certificate of incorporation also
provides that directors may be removed only for cause and then only by the affirmative vote of the holders of 70% or more of the shares then entitled to vote at an election of directors. Pursuant to our certificate of incorporation, any vacancy on
the board of directors that results from an increase in the number of directors may be filled by a majority of the board of directors then in office, provided that a quorum is present, and any other vacancy occurring on the board of directors may be
filled by a majority of the board of directors then in office, even if less than a quorum, or by a sole remaining director. 
 No Written Consent of
Stockholders. Our certificate of incorporation provides that all stockholder actions are required to be taken by a vote of the stockholders at an annual or special meeting, and that stockholders may not take any action by written
consent in lieu of a meeting. 
 Meetings of Stockholders. Our by-laws provide that only those
matters set forth in the notice of the special meeting may be considered or acted upon at a special meeting of stockholders. Our stockholders do not have the power to call special meetings. Our by-laws limit
the business that may be conducted at an annual meeting of stockholders to those matters properly brought before the meeting. 
 Advance Notice
Requirements. Our by-laws establish advance notice procedures with regard to stockholder proposals relating to the nomination of candidates for election as directors or business to be brought
before annual meetings of our stockholders. These procedures provide that notice of stockholder proposals must be timely given in writing to our company secretary prior to the meeting at which the action is to be taken. To be timely, a
stockholder’s notice must be delivered to or mailed and received at our principal executive offices: (a) in the case of an annual meeting, not less than 90 days and not more than 120 days prior to the anniversary date of the
immediately preceding annual meeting, provided, however, that in the event that the annual meeting is called for a date that is not within 30 days before or after such anniversary date, notice by the stockholder in order to be timely must be so
received not later than the close of business on the tenth day following the day on which such notice of the date of the annual meeting; and (b) in the case of a special meeting of stockholders called for the purpose of electing directors, not
later than the close of business on the tenth day following the day on which notice of the date of the special meeting was mailed or public disclosure of the special meeting was made, whichever occurs first. 

 Amendment to Certificate of Incorporation or
By-Laws. As required by the Delaware General Corporation Law, any amendment of our certificate of incorporation must first be approved by a majority of our board of directors and, if required
by law or our certificate of incorporation, thereafter be approved by a majority of the outstanding shares entitled to vote on the amendment, and a majority of the outstanding shares of each class entitled to vote thereon as a class, except that the
amendment of the provisions relating to prohibiting stockholder action by written consent, calling special stockholder meetings, our staggered board, removal of directors, the vote required to amend our
by-laws, ASX matters, and the vote required to amend our certificate of incorporation, must be approved by our shareholders holding not less than 70% of the outstanding shares entitled to vote on the
amendment. Our by-laws may be amended by the affirmative vote of a majority of the directors then in office and may also be amended by the affirmative vote of our shareholders holding at least 70% of the
outstanding shares entitled to vote at an election of directors. 
 Section 203 of the Delaware General Corporation Law. The
Company is subject to the provisions of Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an
“interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. A “business combination” includes,
among other things, a merger, asset or stock sale or other transaction resulting in a financial benefit to the interested stockholder. An “interested stockholder” is a person who, together with affiliates and associates, owns, or did own
within three years prior to the determination of interested stockholder status, 15% or more of our voting stock. Under Section 203, a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one
of the following conditions: 
  

	•	 	 before the stockholder became interested, the board of directors approved either the business combination or the
transaction which resulted in the stockholder becoming an interested stockholder; 

  

	•	 	 upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the
interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and
also officers, and employee stock plans, in some instances; or 

  

	•	 	 at or after the time the stockholder became interested, the business combination was approved by the board of
directors of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the
interested stockholder. 

 These provisions described above could have an effect of delaying, deferring or preventing a
change in control of UBI and could operate with respect to an extraordinary corporate transaction.

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