Document:

exv10w1

 

EXHIBIT 10.1

CHANGE IN CONTROL RETENTION AGREEMENT

     This Agreement entered into as of the 6th day of December, 2006 by and between INX Inc., a
Delaware corporation (the “Company”), and [_________________] (the “Executive”),

WITNESSETH THAT:

     WHEREAS, various parties have, on various occasions, made inquiries regarding buying
controlling interest in the Company; and

     WHEREAS, the Company’s largest shareholder is currently the Company’s current Chairman and
CEO, James H. Long (“Long”).

     WHEREAS, the possibility of a change in the controlling ownership structure concerns the
Executive; and

     WHEREAS, the Company desires to assure itself of the continuity of the Executive’s services
during the period in which the Company may consider such a transaction; and

     WHEREAS, the Company and the Executive accordingly desire to enter into this Agreement on the
terms and conditions set forth below;

     NOW, THEREFORE, in consideration of the premises and mutual covenants set forth herein, it is
hereby agreed by and between the parties as follows:

     1. Term of Agreement. The term of this Agreement shall be the fifteen (15) month
period commencing on the date hereof.

     2. Definition of the term New Entity. For purposes of this Agreement, the term
“New Entity” shall mean any individual, entity or group (within the meaning of 14(d)(2) of the
Securities Exchange Act of 1934 (the “Exchange Act”)) other than (a) the Company; or (b) any
subsidiary of the Company within the meaning of Section 424(f) of the Internal Revenue Code of
1986, as amended, (a “Subsidiary”); or (c) any of Long’s family members; or (d) any trust,
corporation or other entity or legal structure created by, controlled by, or for the benefit of
Long or any of Long’s family members.

     3. Definition of the term Acquisition. For purposes of this Agreement, the term
“Acquisition” shall mean whether by stock transfer, Merger (as hereinafter defined) or
otherwise, the acquisition or purchase by, or other transfer to, any New Entity of then
outstanding shares of common stock of the Company, or the combined voting power of the then
outstanding voting securities of the Company entitled to vote generally in the election of
directors (the “Outstanding Company Voting Securities”); provided, however, that the following
types of acquisitions or purchases shall not constitute or be deemed to be an Acquisition for
purposes of this Agreement:

 

 

	 	a.	 	any acquisition or purchase directly from the Company or any subsidiary of
the Company within the meaning of Section 424(f) of the Internal Revenue Code of 1986,
as amended, (a “Subsidiary”); or
	 
	 	b.	 	any acquisition or purchase by the Company or any Subsidiary or by any
employee benefit plan (or related trust) sponsored or maintained by the Company or any
Subsidiary; or
	 
	 	c.	 	any acquisition or purchase by any corporation pursuant to the
reorganization, merger, consolidation or similar business combination involving the
Company (a “Merger”), if, following such Merger:

	 	(i)	 	substantially all of the holders of the
Outstanding Company Voting Securities immediately prior to the Merger
beneficially own, directly or indirectly, more than fifty percent
(50%) of the common stock of the corporation resulting from or
surviving such Merger in substantially the same proportions as their
ownership of Outstanding Company Voting Securities immediately prior
to such Merger; and
	 
	 	(ii)	 	at least a majority of the members of the
board of directors of the corporation resulting from or surviving
such Merger were members of the board of directors at the time of the
execution of the initial agreement providing for such Merger.

	 	d.	 	A transfer by Long of shares owned by Long to a trust, corporation or other
entity or legal structure created, controlled or for the benefit of Long or any of
Long’s family members.

     4. Change In Control. For purposes of this Agreement, the term “Change In
Control” shall mean any of the following events:

	 	a.	 	An Acquisition by a New Entity in one or more transactions of more than fifty
percent (50%) of the common stock of the Company currently owned by Long (or of any
other securities owned by Long in exchange or substitution therefore), if as a result
of such Acquisitions, Long ceases to be both the Chairman of the Company’s board of
directors and the Chief Executive Officer of the Company; or
	 
	 	b.	 	An Acquisition by a New Entity in one or more transactions of eighty percent
(80%) or more of the common stock of the Company currently owned by Long (or of any
other securities owned by Long in exchange or substitution therefore); or
	 
	 	c.	 	An Acquisition by a New Entity in one or more transactions of thirty percent
(30%) or more of the common stock of the Company currently

 

 

	 	 	 	owned by Long (or of any other securities owned by Long in exchange or substitution
therefore) if in addition to such Acquisition by such New Entity, such New Entity
also acquired or purchased other shares of the common stock or other securities of
the Company which resulted in such New Entity owning fifty percent (50%) or more of
the total Outstanding Company Voting Securities, but only if Long voted his shares
of the common stock of the Company to approve such transaction.

     5. Price Per Share. For purposes of this Agreement, the term “Price Per Share” means,
in connection with a transaction deemed to be a Change In Control. (a) the aggregate amount of cash
and marketable securities paid to the Company’s stockholders divided by (b) the number of shares of
the Company’s common stock acquired in such transaction.

     6. Retention Payment Upon Change In Control. If the Executive is in the employ of the
Company on the date of a Change In Control that occurs during the term of this Agreement, or is in
the employ of the Company at any time during the one hundred twenty (120) day period preceding the
execution by the Company of a definitive agreement setting forth a transaction that ultimately
closes and results in a Change In Control occurring during the term of this Agreement, then upon
the consummation of such Change In Control, the Executive shall receive a retention payment in cash
subject to required withholding, which payment amount shall be determined based upon the Price Per
Share paid to the Company’s stockholders in connection with such Change In Control and calculated
in accordance with the schedule attached hereto (a “Retention Payment”), provided, however, that no
Retention Payment shall be paid to the Executive if (a) the Executive voluntarily terminates his
employment relationship with the Company prior to the Change in Control, or (b) if the Company
terminates the employment of the Executive prior to the Change in Control because the Executive is
convicted of a felony.

     7. Excise Tax Make Whole Payments. If the Executive is entitled to a payment under
this Agreement (a “Payment”), and such payment is subject to any tax under section 4999 of the
Internal Revenue Code of 1986, as amended (the “Code”), or any similar federal or state law (an
“Excise Tax”), the Company shall pay to the Executive an additional amount (the “Make Whole
Payment”) which is designed to partially offset the estimated Excise Tax, which Make Whole Payment
shall be equal to two hundred and twenty two percent (222%) of the estimated Excise Tax the
Executive is expected to incur as a result of (a) the Payment, (b) any severance payment that the
Executive might receive in connection with or resulting from the Change In Control, (c) accelerated
vesting of stock options that occurs because of the Change In Control, and (d) any other income or
benefit received by the Executive in connection with the Change In Control, the estimate of which
estimated Excise Tax shall be made by the Company in its sole discretion, and which the Company
shall use its best efforts to accurately estimate. Notwithstanding the foregoing, no payment shall
be made under this paragraph 7 to the extent that it would duplicate any payment to which the
Executive is entitled to under any other agreement with the Company or plan of the Company.

 

 

     8. Withholding. All payments to the Executive under this Agreement will be subject to
all applicable withholding of state and federal taxes.

     9. Arbitration of All Disputes; Costs and Expenses. Any controversy or claim arising
out of or relating to this Agreement or the breach thereof shall be settled by arbitration in
Houston, Texas in accordance with the laws of the State of Texas, by three arbitrators appointed by
the parties. If the parties cannot agree on the appointment of the arbitrators, one shall be
appointed by the Company and one by the Executive and the third shall be appointed by the first two
arbitrators. If the first two arbitrators cannot agree on the appointment of a third arbitrator,
then the third arbitrator shall be appointed by the American Arbitration Association. The
arbitration shall be conducted in accordance with the rules of the American Arbitration
Association, except with respect to the selection of arbitrators which shall be as provided in this
paragraph 9. Judgment upon the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof. In the event of any dispute between the Company and the Executive
related to this Agreement, each party shall pay its own attorneys’ fees and costs and expenses in
connection with such dispute (including such fees, costs and expenses incurred prior to arbitration
or settlement by the parties without arbitration, during any arbitration or with respect to the
enforcement of any arbitration award in court. Any claim or claims asserted by any other employee
or employees of the Company who is or are party to an agreement or agreements substantially similar
to this Agreement can be consolidated with any claim asserted by the Executive hereunder if the
Executive and such other employee or employees so agree.

     10. Notices. Any notices, requests, demand and other communications provided for by
this Agreement shall be sufficient if in writing and if sent by registered or certified mail to the
Executive at the last address the Executive has filed in writing with the Company or, in the case
of the Company, to the attention of James H. Long, at the Company’s principal administrative
offices located at 6401 Southwest Freeway, Houston, Texas 77074.

     11. Non-Alienation. The Executive shall not have any right to pledge, hypothecate,
anticipate or in any way create a lien upon any amounts provided under this Agreement; and no
benefits payable hereunder shall be assignable in anticipation of payment either by voluntary or
involuntary acts, or by operation of law. Nothing in this paragraph shall limit the Executive’s
rights or powers to dispose of the Executive’s property (including the rights provided herein and
amounts payable hereunder) by will or under the law upon the Executive’s death or limit any rights
or powers which the Executive’s executor or administrator would otherwise have.

     12. Governing Law. The provisions of this Agreement shall be construed in accordance
with the internal laws of the State of Texas, without application of conflict of laws provisions
thereunder and venue shall lie, concerning any such dispute, exclusively in Houston, Harris County,
Texas.

     13. Amendment. This Agreement may be amended or canceled by mutual agreement of the
parties in writing without the consent of any other person and, so long

 

 

as the Executive lives, no person, other than the parties hereto, shall have any rights under
or interest in this Agreement or the subject matter hereof.

     14. Successors to the Company. This Agreement shall be binding upon and inure to the
benefit of the Company and any successor of the Company. The Company will require any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to expressly assume and agree to
perform this Agreement in the same manner and to the same extent that the Company would be required
to perform it if no succession had taken place.

     15. Severability. In the event that any provision or portion of this Agreement shall
be determined to be invalid or unenforceable for any reason, the remaining provisions of this
Agreement shall be unaffected thereby and shall remain in full force and effect.

     16. Employment Agreement. This Agreement supplements the Executive’s employment
agreement entered into as of [___________________] (the “Employment Agreement”); provided, however, that
notwithstanding Section 2 of the Employment Agreement, the payments provided hereunder are
non-discretionary and no change to this Agreement shall be effective without the written agreement
of the Executive and the Company. Except as specifically provided herein, nothing in this
Agreement is intended, or shall be construed, to modify any rights or obligations of the parties
under the Employment Agreement.

     17. Counterparts. This Agreement may be executed in two or more counterparts, any one
of which shall be deemed the original without reference to the others.

     IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the
authorization from its Board of Directors, the Company has caused these presents to be executed in
its name and on its behalf, and its corporate seal to be hereunto affixed and attested by its
Secretary, all as of the day and year first above written.

	 	 	 	 	 
	 	EXECUTIVE:

 	 
	 	  	 
	 	[_________________________] 	 
	 	 	 
	 

	 	 	 	 	 
	 	INX Inc:

 	 
	 	By  	 
	 	James H. Long, Chairman & CEOexv4w1

 

Exhibit 4.1

RESTATED CERTIFICATE OF INCORPORATION

OF

EMERGENT BIOSOLUTIONS INC.

 

Pursuant to Sections 242 and 245 of the

General Corporation Law of the State of Delaware

(originally incorporated on December 19, 2003)

 

     Emergent BioSolutions Inc. (the “Corporation”), a corporation organized and existing under and
by virtue of the provisions of the General Corporation Law of the State of Delaware (the “General
Corporation Law”), hereby certifies as follows:

     1. The current name of the Corporation and the name under which the Corporation was originally
incorporated is Emergent BioSolutions Inc. The original Certificate of Incorporation was filed on
December 19, 2003. An Amended and Restated Certificate of Incorporation was filed on February 2,
2004. A Certificate of Amendment was filed on October 27, 2006. A Certificate of Designations of
Series A Junior Participating Preferred Stock was filed on November 14, 2006.

     2. The Board of Directors of the Corporation pursuant to Sections 242 and 245 of the General
Corporation Law duly adopted resolutions setting forth this Restated Certificate of Incorporation
and declaring said Restated Certificate of Incorporation advisable. The stockholders of the
Corporation duly approved and adopted this Restated Certificate of Incorporation by written consent
in accordance with Sections 228, 242 and 245 of the General Corporation Law, and written notice of
such consent has been given to all stockholders who have not consented in writing and who are
entitled to such notice pursuant to Section 228(e) of the General Corporation Law.

     The Certificate of Incorporation of this Corporation, as previously amended and restated, is
hereby further amended and restated in its entirety to read as follows:

*      *      *

     FIRST: The name of the Corporation is Emergent BioSolutions Inc. (hereinafter referred to as
the “Corporation”).

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

     THIRD: The nature of the business or purposes to be conducted or promoted by the Corporation
is to engage in any lawful act or activity for which corporations may be organized under the
General Corporation Law of Delaware.

 

 

     FOURTH: The total number of shares of all classes of stock which the Corporation shall have
authority to issue is 115,000,000 shares, consisting of (i) 100,000,000 shares of Common Stock,
$0.001 par value per share (“Common Stock”), and (ii) 15,000,000 shares of Preferred Stock, $0.001
par value per share (“Preferred Stock”).

     The following is a statement of the designations and the powers, privileges and rights, and
the qualifications, limitations or restrictions thereof in respect of each class of capital stock
of the Corporation.

A COMMON STOCK.

     1. Voting. The holders of the Common Stock shall have voting rights at all meetings
of stockholders, each such holder being entitled to one vote for each share thereof held by such
holder; provided, however, that, except as otherwise required by law, holders of
Common Stock shall not be entitled to vote on any amendment to this Certificate of Incorporation
(which, as used herein, shall mean the restated certificate of incorporation of the Corporation, as
amended from time to time, including the terms of any certificate of designations of any series of
Preferred Stock) that relates solely to the terms of one or more outstanding series of Preferred
Stock if the holders of such affected series are entitled, either separately or together as a class
with the holders of one or more other such series, to vote thereon pursuant to this Certificate of
Incorporation. There shall be no cumulative voting.

     The number of authorized shares of Common Stock may be increased or decreased (but not below
the number of shares thereof then outstanding) by the affirmative vote of the holders of capital
stock representing a majority of the votes entitled to be cast irrespective of the provisions of
Section 242(b)(2) of the General Corporation Law of Delaware.

     2. Dividends. Dividends may be declared and paid on the Common Stock from funds
lawfully available therefor as and when determined by the Board of Directors and subject to any
preferential dividend or other rights of any then outstanding Preferred Stock.

     3. Liquidation. Upon the dissolution or liquidation of the Corporation, whether
voluntary or involuntary, holders of Common Stock will be entitled to receive ratably all assets of
the Corporation available for distribution to its stockholders, subject to any preferential or
other rights of any then outstanding Preferred Stock.

B PREFERRED STOCK.

     Preferred Stock may be issued from time to time in one or more series, each of such series to
have such terms as stated or expressed herein and in the resolution or resolutions providing for
the issue of such series adopted by the Board of Directors as hereinafter provided. Any shares of
Preferred Stock which may be redeemed, purchased or acquired by the Corporation may be reissued
except as otherwise provided by law.

     Authority is hereby expressly granted to the Board of Directors from time to time to issue the
Preferred Stock in one or more series, and in connection with the creation of any such series, by
resolution or resolutions providing for the issuance of the shares thereof, to determine and fix

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the number of shares of such series and such voting powers, full or limited, or no voting
powers, and such designations, preferences and relative participating, optional or other special
rights, and qualifications, limitations or restrictions thereof, including without limitation
thereof, dividend rights, conversion rights, redemption privileges and liquidation preferences, as
shall be stated and expressed in such resolutions, all to the full extent now or hereafter
permitted by the General Corporation Law of Delaware. Without limiting the generality of the
foregoing, the resolutions providing for issuance of any series of Preferred Stock may provide that
such series shall be superior or rank equally or be junior to the Preferred Stock of any other
series to the extent permitted by law.

     The number of authorized shares of Preferred Stock may be increased or decreased (but not
below the number of shares then outstanding) by the affirmative vote of the holders of capital
stock representing a majority of the votes entitled to be cast irrespective of the provisions of
Section 242(b)(2) of the General Corporation Law of Delaware.

     FIFTH: Except as otherwise provided herein, the Corporation reserves the right to amend,
alter, change or repeal any provision contained in this Certificate of Incorporation, in the manner
now or hereafter prescribed by statute and this Certificate of Incorporation, and all rights
conferred upon stockholders herein are granted subject to this reservation.

     SIXTH: In furtherance and not in limitation of the powers conferred upon it by the laws of the
State of Delaware, and subject to the terms of any series of Preferred Stock, the Board of
Directors shall have the power to adopt, amend, alter or repeal the Corporation’s By-laws. Until
the second anniversary of the completion of the initial public offering of Common Stock of the
Corporation, the affirmative vote of at least 75% of the directors then in office shall be required
to adopt, amend, alter or repeal the Corporation’s By-laws. Until the second anniversary of the
completion of the initial public offering of Common Stock of the Corporation, the Corporation’s
By-laws also may be adopted, amended, altered or repealed by the affirmative vote of the holders of
capital stock representing at least a majority of the voting power of all outstanding stock
entitled to vote thereon, in addition to any other vote required by this Certificate of
Incorporation. Following the second anniversary of the completion of the initial public offering
of Common Stock of the Corporation, the affirmative vote of a majority of the directors present at
any regular or special meeting of the Board of Directors at which a quorum is present shall be
required to adopt, amend, alter or repeal the Corporation’s By-laws. Following the second
anniversary of the completion of the initial public offering of Common Stock of the Corporation,
the Corporation’s By-laws also may be adopted, amended, altered or repealed by the affirmative vote
of the holders of capital stock representing at least seventy-five percent (75%) of the voting
power of all outstanding stock entitled to vote thereon, in addition to any other vote required by
this Certificate of Incorporation. Notwithstanding any other provisions of law, this Certificate
of Incorporation or the By-laws of the Corporation, and notwithstanding the fact that a lesser
percentage may be specified by law, (i) until the second anniversary of the completion of the
initial public offering of Common Stock of the Corporation, the affirmative vote of the holders of
capital stock representing at least a majority of the voting power of all outstanding stock
entitled to vote thereon, and (ii) following the second anniversary of the completion of the
initial public offering of Common Stock of the Corporation, the affirmative vote of the holders of
capital stock representing at least seventy-five percent (75%) of the voting power of all
outstanding stock

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entitled to vote thereon, shall be required to amend or repeal, or to adopt any provision
inconsistent with, this Article SIXTH.

     SEVENTH: Except to the extent that the General Corporation Law of Delaware prohibits the
elimination or limitation of liability of directors for breaches of fiduciary duty, no director of
the Corporation shall be personally liable to the Corporation or its stockholders for monetary
damages for any breach of fiduciary duty as a director, notwithstanding any provision of law
imposing such liability. No amendment to or repeal of this provision shall apply to or have any
effect on the liability or alleged liability of any director of the Corporation for or with respect
to any acts or omissions of such director occurring prior to such amendment or repeal.

     EIGHTH: The Corporation shall provide indemnification and advancement of expenses as follows:

     1. Actions, Suits and Proceedings Other than by or in the Right of the Corporation.
The Corporation shall indemnify each person who was or is a party or threatened to be made a party
to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the Corporation) by
reason of the fact that he or she is or was, or has agreed to become, a director or officer of the
Corporation, or is or was serving, or has agreed to serve, at the request of the Corporation, as a
director, officer, partner, employee or trustee of, or in a similar capacity with, another
corporation, partnership, joint venture, trust or other enterprise (including any employee benefit
plan) (all such persons being referred to hereafter as an “Indemnitee”), or by reason of any action
alleged to have been taken or omitted in such capacity, against all expenses (including attorneys’
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by or on
behalf of Indemnitee in connection with such action, suit or proceeding and any appeal therefrom,
if Indemnitee acted in good faith and in a manner which Indemnitee reasonably believed to be in, or
not opposed to, the best interests of the Corporation, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his or her conduct was unlawful. The termination of
any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that
Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in,
or not opposed to, the best interests of the Corporation, and, with respect to any criminal action
or proceeding, had reasonable cause to believe that his or her conduct was unlawful.

     2. Actions or Suits by or in the Right of the Corporation. The Corporation shall
indemnify any Indemnitee who was or is a party to or threatened to be made a party to any
threatened, pending or completed action or suit by or in the right of the Corporation to procure a
judgment in its favor by reason of the fact that Indemnitee is or was, or has agreed to become, a
director or officer of the Corporation, or is or was serving, or has agreed to serve, at the
request of the Corporation, as a director, officer, partner, employee or trustee of, or in a
similar capacity with, another corporation, partnership, joint venture, trust or other enterprise
(including any employee benefit plan), or by reason of any action alleged to have been taken or
omitted in such capacity, against all expenses (including attorneys’ fees) and, to the extent
permitted by law, amounts paid in settlement actually and reasonably incurred by or on behalf of
Indemnitee in connection with such action, suit or proceeding and any appeal therefrom, if
Indemnitee acted in

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good faith and in a manner which Indemnitee reasonably believed to be in, or not opposed to,
the best interests of the Corporation, except that no indemnification shall be made under this
Section 2 in respect of any claim, issue or matter as to which Indemnitee shall have been adjudged
to be liable to the Corporation, unless, and only to the extent, that the Court of Chancery of
Delaware, or the court in which such action or suit was brought, shall determine upon application
that, despite the adjudication of such liability but in view of all the circumstances of the case,
Indemnitee is fairly and reasonably entitled to indemnity for such expenses (including attorneys’
fees) which the Court of Chancery of Delaware, or the court in which such action or suit was
brought, shall deem proper.

     3. Indemnification for Expenses of Successful Party. Notwithstanding any other
provisions of this Article, to the extent that an Indemnitee has been successful, on the merits or
otherwise, in defense of any action, suit or proceeding referred to in Sections 1 and 2 of this
Article EIGHTH, or in defense of any claim, issue or matter therein, or on appeal from any such
action, suit or proceeding, Indemnitee shall be indemnified against all expenses (including
attorneys’ fees) actually and reasonably incurred by or on behalf of Indemnitee in connection
therewith. Without limiting the foregoing, if any action, suit or proceeding is disposed of, on
the merits or otherwise (including a disposition without prejudice), without (i) the disposition
being adverse to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Corporation,
(iii) a plea of guilty or nolo contendere by Indemnitee, (iv) an adjudication that Indemnitee did
not act in good faith and in a manner he reasonably believed to be in or not opposed to the best
interests of the Corporation, and (v) with respect to any criminal proceeding, an adjudication that
Indemnitee had reasonable cause to believe his conduct was unlawful, Indemnitee shall be considered
for the purposes hereof to have been wholly successful with respect thereto.

     4. Notification and Defense of Claim. As a condition precedent to an Indemnitee’s
right to be indemnified pursuant to Section 1, 2 or 3 of this Article EIGHTH, or to receive
advancement of expenses pursuant to Section 5 of this Article EIGHTH, such Indemnitee must notify
the Corporation in writing as soon as practicable of any action, suit, proceeding or investigation
involving such Indemnitee for which indemnity or advancement of expenses will or could be sought.
With respect to any action, suit, proceeding or investigation of which the Corporation is so
notified, the Corporation will be entitled to participate therein at its own expense and/or to
assume the defense thereof at its own expense, with legal counsel reasonably acceptable to
Indemnitee. After notice from the Corporation to Indemnitee of its election so to assume such
defense, the Corporation shall not be liable to Indemnitee for any legal or other expenses
subsequently incurred by Indemnitee in connection with such action, suit, proceeding or
investigation, other than as provided below in this Section 4. Indemnitee shall have the right to
employ his or her own counsel in connection with such action, suit, proceeding or investigation,
but the fees and expenses of such counsel incurred after notice from the Corporation of its
assumption of the defense thereof shall be at the expense of Indemnitee unless (i) the employment
of counsel by Indemnitee has been authorized by the Corporation, (ii) counsel to Indemnitee shall
have reasonably concluded that there may be a conflict of interest or position on any significant
issue between the Corporation and Indemnitee in the conduct of the defense of such action, suit,
proceeding or investigation or (iii) the Corporation shall not in fact have employed counsel to
assume the defense of such action, suit, proceeding or investigation, in each of which cases the
fees and expenses of counsel for Indemnitee shall be at

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the expense of the Corporation, except as otherwise expressly provided by this Article. The
Corporation shall not be entitled, without the consent of Indemnitee, to assume the defense of any
claim brought by or in the right of the Corporation or as to which counsel for Indemnitee shall
have reasonably made the conclusion provided for in clause (ii) of the preceding sentence. The
Corporation shall not be required to indemnify Indemnitee under this Article EIGHTH for any amounts
paid in settlement of any action, suit, proceeding or investigation effected without its written
consent. The Corporation shall not settle any action, suit, proceeding or investigation in any
manner which would impose any penalty or limitation on Indemnitee without Indemnitee’s written
consent. Neither the Corporation nor Indemnitee will unreasonably withhold or delay its consent to
any proposed settlement.

     5. Advance of Expenses. Subject to the provisions of Sections 4 and 6 of this Article
EIGHTH, any expenses (including attorneys’ fees) incurred by or on behalf of Indemnitee in
defending an action, suit, proceeding or investigation or any appeal therefrom shall be paid by the
Corporation in advance of the final disposition of such matter;
provided, however, that the
payment of such expenses incurred by or on behalf of Indemnitee in advance of the final disposition
of such matter shall be made only upon receipt of an undertaking by or on behalf of Indemnitee to
repay all amounts so advanced in the event that it shall ultimately be determined that Indemnitee
is not entitled to be indemnified by the Corporation as authorized in this Article. Such
undertaking shall be accepted without reference to the financial ability of Indemnitee to make such
repayment.

     6. Procedure for Indemnification and Advance of Expenses. In order to obtain
indemnification pursuant to Section 1, 2 or 3 of this Article EIGHTH or advancement of expenses
pursuant to Section 5 of this Article EIGHTH, an Indemnitee shall submit to the Corporation a
written request. Any such advancement of expenses shall be made promptly, and in any event within
30 days after receipt by the Corporation of the written request of Indemnitee, unless the
Corporation has assumed the defense pursuant to Section 4 of this Article EIGHTH (and none of the
circumstances described in Section 4 of this Article EIGHTH that would nonetheless entitle the
Indemnitee to indemnification or an advancement for the fees and expenses of separate counsel have
occurred). Any such indemnification, unless ordered by a court, shall be made with respect to
requests under Section 1 or 2 only as authorized in the specific case upon a determination by the
Corporation that the indemnification of Indemnitee is proper because Indemnitee has met the
applicable standard of conduct set forth in Section 1 or 2, as the case may be. Such determination
shall be made in each instance (a) by a majority vote of the directors of the Corporation who are
not at that time parties to the action, suit or proceeding in question (“disinterested directors”),
whether or not a quorum, (b) by a committee of disinterested directors designated by majority vote
of disinterested directors, whether or not a quorum, (c) if there are no disinterested directors,
or if the disinterested directors so direct, by independent legal counsel (who may, to the extent
permitted by law, be regular legal counsel to the Corporation) in a written opinion, or (d) by the
stockholders of the Corporation.

     7. Remedies. The right to indemnification or advancement of expenses as granted by
this Article shall be enforceable by Indemnitee in any court of competent jurisdiction. Neither
the failure of the Corporation to have made a determination prior to the commencement of such
action that indemnification is proper in the circumstances because Indemnitee has met

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the applicable standard of conduct, nor an actual determination by the Corporation pursuant to
Section 6 of this Article EIGHTH that Indemnitee has not met such applicable standard of conduct,
shall be a defense to the action or create a presumption that Indemnitee has not met the applicable
standard of conduct. Indemnitee’s expenses (including attorneys’ fees) reasonably incurred in
connection with successfully establishing Indemnitee’s right to advancement of expenses or
indemnification, in whole or in part, in any such proceeding shall also be indemnified by the
Corporation.

     8. Limitations. Notwithstanding anything to the contrary in this Article, except as
set forth in Section 7 of this Article EIGHTH, the Corporation shall not indemnify or advance
expenses to an Indemnitee pursuant to this Article EIGHTH in connection with a proceeding (or part
thereof) initiated by such Indemnitee unless the initiation thereof was approved by the Board of
Directors. Notwithstanding anything to the contrary in this Article, the Corporation shall not
indemnify or advance expenses to an Indemnitee to the extent such Indemnitee is reimbursed or paid
expenses from the proceeds of insurance, and in the event the Corporation makes any indemnification
payments or advancement of expenses to an Indemnitee and such Indemnitee is subsequently reimbursed
from the proceeds of insurance, such Indemnitee shall promptly refund indemnification payments or
advancement of expenses to the Corporation to the extent of such insurance reimbursement.

     9. Subsequent Amendment. No amendment, termination or repeal of this Article or of
the relevant provisions of the General Corporation Law of Delaware or any other applicable laws
shall affect or diminish in any way the rights of any Indemnitee to indemnification or advancement
of expenses under the provisions hereof with respect to any action, suit, proceeding or
investigation arising out of or relating to any actions, transactions or facts occurring prior to
the final adoption of such amendment, termination or repeal.

     10. Other Rights. The indemnification and advancement of expenses provided by this
Article shall not be deemed exclusive of any other rights to which an Indemnitee seeking
indemnification or advancement of expenses may be entitled under any law (common or statutory),
agreement or vote of stockholders or disinterested directors or otherwise, both as to action in
Indemnitee’s official capacity and as to action in any other capacity while holding office for the
Corporation, and shall continue as to an Indemnitee who has ceased to be a director or officer, and
shall inure to the benefit of the estate, heirs, executors and administrators of Indemnitee.
Nothing contained in this Article shall be deemed to prohibit, and the Corporation is specifically
authorized to enter into, agreements with officers and directors providing indemnification and
advancement rights and procedures different from those set forth in this Article. In addition, the
Corporation may, to the extent authorized from time to time by its Board of Directors, grant
indemnification and advancement rights to other employees or agents of the Corporation or other
persons serving the Corporation and such rights may be equivalent to, or greater or less than,
those set forth in this Article.

     11. Partial Indemnification and Advance of Expenses. If an Indemnitee is entitled
under any provision of this Article to indemnification or advancement of expenses by the
Corporation for some or a portion of the expenses (including attorneys’ fees), judgments, fines or
amounts paid in settlement actually and reasonably incurred by or on behalf of Indemnitee in
connection with any action, suit, proceeding or investigation and any appeal therefrom but not,

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however, for the total amount thereof, the Corporation shall nevertheless indemnify or advance
expenses to Indemnitee for the portion of such expenses (including attorneys’ fees), judgments,
fines or amounts paid in settlement to which Indemnitee is entitled.

     12. Insurance. The Corporation may purchase and maintain insurance, at its expense,
to protect itself and any director, officer, employee or agent of the Corporation or another
corporation, partnership, joint venture, trust or other enterprise (including any employee benefit
plan) against any expense, liability or loss incurred by him in any such capacity, or arising out
of his status as such, whether or not the Corporation would have the power to indemnify such person
against such expense, liability or loss under the General Corporation Law of Delaware.

     13. Savings Clause. If this Article or any portion hereof shall be invalidated on any
ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify
each Indemnitee as to any expenses (including attorneys’ fees), judgments, fines and amounts paid
in settlement in connection with any action, suit, proceeding or investigation, whether civil,
criminal or administrative, including an action by or in the right of the Corporation, to the
fullest extent permitted by any applicable portion of this Article that shall not have been
invalidated and to the fullest extent permitted by applicable law.

     14. Definitions. Terms used herein and defined in Section 145(h) and Section 145(i)
of the General Corporation Law of Delaware shall have the respective meanings assigned to such
terms in such Section 145(h) and Section 145(i).

     NINTH: This Article is inserted for the management of the business and for the conduct of the
affairs of the Corporation.

     1. General Powers. The business and affairs of the Corporation shall be managed by or
under the direction of the Board of Directors.

     2. Number of Directors; Election of Directors. Subject to the rights of holders of
any series of Preferred Stock to elect directors, the number of directors of the Corporation shall
be established by the Board of Directors. Until the fifth anniversary of the completion of the
initial public offering of Common Stock of the Corporation, any change in the number of directors
of the Corporation in any class will require a vote of not less than 75% of the directors then in
office. Election of directors need not be by written ballot, except as and to the extent provided
in the By-laws of the Corporation.

     3. Classes of Directors. Subject to the rights of holders of any series of Preferred
Stock to elect directors, the Board of Directors shall be and is divided into three classes: Class
I, Class II and Class III. Upon the filing of this Restated Certificate of Incorporation, the
Board of Directors shall assign each director then in office to one of the three classes, and,
automatically and without any further action, each director shall become a member of the class to
which such director is assigned and shall serve for a term of office applicable to such class.

     4. Terms of Office. Subject to the rights of holders of any series of Preferred Stock
to elect directors, each director shall serve for a term ending on the date of the third annual
meeting following the annual meeting at which such director was elected; provided that,
with

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respect to the directors serving in the initial classes of Class I, Class II and Class III,
the terms of the directors serving in Class I shall expire at the Corporation’s first annual
meeting of stockholders held after the initial assignment of directors to classified terms; the
terms of the directors serving in Class II shall expire at the Corporation’s second annual meeting
of stockholders held after the initial assignment of directors to classified terms; and the terms
of the directors serving in Class III shall expire at the third annual meeting of stockholders held
after the initial assignment of directors to classified terms; provided, further,
that the term of each director shall continue until the election and qualification of his successor
and be subject to his earlier death, resignation or removal. A decrease in the number of
authorized directors shall not shorten the term of any incumbent director.

     5. Quorum. The greater of (a) a majority of the directors at any time in office and
(b) one-third of the number of directors fixed pursuant to Section 2 of this Article NINTH shall
constitute a quorum. If at any meeting of the Board of Directors there shall be less than such a
quorum, a majority of the directors present may adjourn the meeting from time to time without
further notice other than announcement at the meeting, until a quorum shall be present.

     6. Action at Meeting. Every act or decision done or made by a majority of the
directors present at a meeting duly held at which a quorum is present shall be regarded as the act
of the Board of Directors unless a greater number is required by law or by this Certificate of
Incorporation.

     7. Removal. Subject to the rights of holders of any series of Preferred Stock,
directors of the Corporation may be removed only for cause and only by the affirmative vote of the
holders of capital stock representing at least seventy-five percent (75%) of the votes which all
the stockholders would be entitled to cast in an election of directors.

     8. Vacancies. Subject to the rights of holders of any series of Preferred Stock and
except as required by law, any vacancy or newly created directorship in the Board of Directors,
however occurring, shall be filled only by the directors then in office, although less than a
quorum, or by a sole remaining director and shall not be filled by the stockholders. A director
elected to fill a vacancy shall hold office until the next election of the class for which such
director shall have been chosen, subject to the election and qualification of a successor and to
such director’s earlier death, resignation or removal.

     9. Appointment and Removal of the Chairman of the Board. Until the fifth anniversary
of the completion of the initial public offering of the Common Stock of the Corporation, the
appointment and removal of the Chairman of the Board will require a vote of not less than 75% of
the directors then in office.

     10. Stockholder Nominations and Introduction of Business, Etc. Advance notice of
stockholder nominations for election of directors and other business to be brought by stockholders
before a meeting of stockholders shall be given in the manner provided by the By-laws of the
Corporation; provided, however, that no such advance notice shall be required until
the second anniversary of the completion of the initial public offering of Common Stock of the
Corporation.

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     11. Amendments to Article. Notwithstanding any other provisions of law, this
Certificate of Incorporation or the By-laws of the Corporation, and notwithstanding the fact that a
lesser percentage may be specified by law, (i) until the second anniversary of the completion of
the initial public offering of Common Stock of the Corporation, the affirmative vote of the holders
of capital stock representing at least a majority of the votes which all the stockholders would be
entitled to cast thereon, and (ii) following the second anniversary of the completion of the
initial public offering of Common Stock of the Corporation, the affirmative vote of the holders of
capital stock representing at least seventy-five percent (75%) of the votes which all the
stockholders would be entitled to cast thereon, shall be required to amend or repeal, or to adopt
any provision inconsistent with, this Article NINTH.

     TENTH: Stockholders of the Corporation may not take any action by written consent in lieu of a
meeting. Notwithstanding any other provisions of law, this Certificate of Incorporation or the
By-laws of the Corporation, and notwithstanding the fact that a lesser percentage may be specified
by law, (i) until the second anniversary of the completion of the initial public offering of Common
Stock of the Corporation, the affirmative vote of the holders of capital stock representing at
least a majority of the votes which all the stockholders would be entitled to cast thereon, and
(ii) following the second anniversary of the completion of the initial public offering of Common
Stock of the Corporation, the affirmative vote of the holders of capital stock representing at
least seventy-five percent (75%) of the votes which all the stockholders would be entitled to cast
thereon, shall be required to amend or repeal, or to adopt any provision inconsistent with, this
Article TENTH.

     ELEVENTH: Special meetings of stockholders for any purpose or purposes may be called at any
time by the Board of Directors, the Chairman of the Board or the President, but such special
meetings may not be called by any other person or persons. Business transacted at any special
meeting of stockholders shall be limited to matters relating to the purpose or purposes stated in
the notice of meeting. Notwithstanding any other provision of law, this Certificate of
Incorporation or the By-laws of the Corporation, and notwithstanding the fact that a lesser
percentage may be specified by law, (i) until the second anniversary of the completion of the
initial public offering of Common Stock of the Corporation, the affirmative vote of the holders of
capital stock representing at least a majority of the votes which all the stockholders would be
entitled to cast thereon, and (ii) following the second anniversary of the completion of the
initial public offering of Common Stock of the Corporation, the affirmative vote of the holders of
capital stock representing at least seventy-five percent (75%) of the votes which all the
stockholders would be entitled to cast thereon, shall be required to amend or repeal, or to adopt
any provision inconsistent with, this Article ELEVENTH.

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     IN WITNESS WHEREOF, this Restated Certificate of Incorporation, which restates, integrates and
amends the certificate of incorporation of the Corporation, and which has been duly adopted in
accordance with Sections 228, 242 and 245 of the Delaware General Corporation Law, has been
executed by its duly authorized officer this 20th day of November, 2006.

	 	 	 	 	 
	 	EMERGENT BIOSOLUTIONS INC.

 	 
	 	By:  	/s/ Fuad El-Hibri
 	 
	 	 	Name:  	Fuad El-Hibri 	 
	 	 	Title:  	President and Chief Executive Officer

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