Document:

exv10w11

Exhibit 10.11

FORM OF

FRATERNITY FEDERAL SAVINGS AND LOAN ASSOCIATION

EMPLOYEE SEVERANCE COMPENSATION PLAN

A. Purpose.

The primary purpose of the Fraternity Federal Savings and Loan Association Employee Severance
Compensation Plan is to ensure the successful continuation of the business of Fraternity Federal
Savings and Loan Association and the fair and equitable treatment of the employees of Fraternity
Federal Savings and Loan Association following a Change in Control.

B. Definitions.

In this Plan, whenever the context so indicates, the singular or the plural number and the
masculine or feminine gender shall be deemed to include the other, the terms “he,” “his,” and
“him,” shall refer to an employee and, except as otherwise provided, or unless the context
otherwise requires, the capitalized terms shall have the following meanings:

“Association” means Fraternity Federal Savings and Loan Association and its successors.

“Base Compensation” means

     (a)
    For salaried employees, the employee’s annual base salary at the rate in effect on his
termination date or, if greater, the rate in effect on the date immediately preceding the Change in
Control.

     (b)
    For employees whose compensation is determined in whole or in part on the basis of
commission income, the employee’s base salary at his termination date (or, if greater, the
employee’s base salary on the date immediately preceding the effective date of the Change in
Control), if any, plus the commissions earned by the employee in the twelve (12) full calendar
months preceding his termination of employment (or, if greater, the commissions earned in the
twelve (12) full calendar months immediately preceding the effective date of the Change in
Control).

     (c) For hourly employees, the employee’s total hourly wages for the twelve (12) full calendar
months preceding his termination of employment or, if greater, the twelve (12) full calendar months
preceding the effective date of the Change in Control.

“Board of Directors” means the Board of Directors of the Association.

“Cause” means grounds for termination of employment due to the employee’s personal dishonesty,
incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional
failure to perform stated duties, willful violation of any law, rule, or regulation (other than
traffic violations or similar offenses) or final cease-and-desist order.

“Change in Control” means a change in control of the Association or the Corporation, as defined in
Section 409A of the Code and rules, regulations, and guidance of general application thereunder
issued by the Department of the Treasury, including:

     (a) Change in ownership: a change in ownership of the Corporation occurs on the date
any one person or group accumulates ownership of Corporation stock constituting more than 50% of
the total fair market value or total voting power of Corporation stock,

 

 

     (b)
Change in effective control: (x) any one person or more than one person acting as
a group acquires within a 12-month period ownership of Corporation stock possessing 30% or more of
the total voting power of Corporation stock, or (y) a majority of the Corporation’s board of
directors is replaced during any 12-month period by directors whose appointment or election is not
endorsed in advance by a majority of the Corporation’s board of directors, or

     (c)
Change in ownership of a substantial portion of assets: a change in ownership of a
substantial portion of the Corporation’s assets occurs if in a 12-month period any one person or
more than one person acting as a group acquires from the Corporation assets having a total gross
fair market value equal to or exceeding 40% of the total gross fair market value of all of the
Corporation’s assets immediately before the acquisition or acquisitions. For this purpose, gross
fair market value means the value of the Corporation’s assets, or the value of the assets being
disposed of, determined without regard to any liabilities associated with the assets.

“Change in Control Severance Benefit” means the benefit provided for in Paragraph D of the Plan.

“Code” means the Internal Revenue Code of 1986, as amended.

“Comparable Position” means a position that would (i) provide the employee with base compensation
and benefits that are comparable in the aggregate to those provided to the employee prior to the
Change in Control; (ii) provide the employee with an opportunity for variable bonus compensation
that is comparable to the opportunity provided to the employee prior to the Change in Control;
(iii) be in a location that would not require the employee to increase his daily one-way commuting
distance by more than thirty-five (35) miles as compared to the employee’s commuting distance
immediately prior to the Change in Control; and (iv) have job skill requirements and duties that
are comparable to the requirements and duties of the position held by the employee immediately
prior to the Change in Control.

“Corporation” means Fraternity Community Bancorp, Inc. and its successors.

“Plan” means this Fraternity Federal Savings and Loan Association Employee Severance Compensation
Plan, as may be amended from time to time.

“Year of Service” means each 12-month period of service following an employee’s date of hire during
which the employee completes at least one hour of service each month. The taking of a leave of
absence shall not eliminate a period of time from being a Year of Service if the period of time
otherwise qualifies as a year of service. A “leave of absence” means (i) the taking of an
authorized or approved leave of absence under the provisions of the federal Family and Medical
Leave Act (“FMLA”), (ii) any state law providing qualitatively similar benefits as the FMLA, or
(iii) a leave of absence authorized under the policies of the Association.

C. Covered Employees.

     (a)
    Any employee of the Association with at least one Year of Service as of the date of his
termination of employment shall receive a Change in Control Severance Benefit if, within the period
beginning on the effective date of a Change in Control and ending on the first anniversary of the
effective date of the Change in Control, (i) the Association terminates the employee’s employment
without Cause, or (ii) the employee terminates employment with the Association voluntarily after
being offered continued employment in a position that is not a Comparable Position.

     (b)
Notwithstanding the foregoing, no employee shall be eligible for a Change in Control
Severance Benefit if, at the time of his termination of employment, the employee is a party to an

2

 

individual employment agreement or change in control agreement with the Association and/or the
Corporation pursuant to which he is entitled to severance benefits.

D. Determination and Payment of the Change in Control Severance Benefit.

     (a)
    The Change in Control Severance Benefit payable to an eligible employee under this Plan
shall be determined under as follows:

     (1)
    An eligible employee shall receive a Change in Control Severance Benefit equal to
the product of (i) the employee’s Years of Service from his hire date (including partial
years and years prior to the adoption of this Plan) through the date of the termination of
his employment and (ii) an amount equal to the employee’s Base Compensation for two (2)
weeks. The maximum payment to an eligible employee shall be an amount equal to fifty-two
(52) weeks of Base Compensation.

     (b)
    The Change in Control Severance Benefit shall be paid in a lump sum not later
than five (5) business days after the date of the eligible employee’s termination of employment.

    

     (c)
All payments under this Plan will be subject to required withholding for federal, state
and local tax purposes.

E. Parachute Payment.

Notwithstanding anything in this Plan to the contrary, if a Change in Control Severance Benefit
that is otherwise payable to an employee who is a “disqualified individual” would constitute an
“excess parachute payment,” taking into account payments under this Plan and otherwise, then the
benefit payable under this Plan shall be reduced to the maximum amount which does not include an
excess parachute payment. The terms “disqualified individual” and “excess parachute payment” shall
have the same meanings as under Section 280G of the Code.

F. Adoption by Affiliates.

Upon approval by the Board of Directors, this Plan may be adopted by any “subsidiary” or “parent”
of the Association. Upon such adoption, the provisions of the Plan shall be fully applicable to
the employees of that subsidiary or parent. The term “subsidiary” means any corporation in which
the Association, directly or indirectly, holds a majority of the voting power of its outstanding
shares of capital stock. The term “parent” means any corporation which holds a majority of the
voting power of the outstanding shares of capital stock of the Association.

G. Administration.

The Plan shall be administered by the Board of Directors, which shall have the discretion to
interpret the terms of the Plan and to make all determinations about eligibility and payment of
benefits. All decisions of the Board of Directors, any action taken by the Board of Directors with
respect to the Plan and within the powers granted to the Board of Directors under the Plan, and any
interpretation by the Board of Directors of any term or condition of the Plan, shall be conclusive
and binding on all persons, and will be given the maximum possible deference allowed by law. The
Board of Directors may delegate and reallocate any authority and responsibility with respect to the
Plan.

3

 

H. Source of Payments.

Unless otherwise determined by the Board of Directors, all payments and benefits provided under
this Agreement shall be paid solely by the Association or, if applicable, any affiliate that adopts
the Plan.

I. Inalienability.

In no event may any employee sell, transfer, anticipate, assign or otherwise dispose of any right
or interest under the Plan. At no time will any such right or interest be subject to the claims of
creditors, nor liable to attachment, execution or other legal process.

J. Governing Law.

The provisions of the Plan will be construed, administered and enforced in accordance with the laws
of the State of Maryland, except to the extent that federal law applies.

K. Severability.

If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability
will not affect any other provision of the Plan, and the Plan will be construed and enforced as if
such provision had not been included.

L. No Employment Rights.

Neither the establishment nor the terms of this Plan shall be held or construed to confer upon any
employee the right to a continuation of employment, nor constitute a contract of employment,
express or implied. The Association and, if applicable, any affiliate that adopts the Plan,
reserves the right to dismiss or otherwise deal with any employee to the same extent and on the
same basis as though this Plan had not been adopted. Nothing in this Plan is intended to alter the
at-will status of an employee’s employment status, it being understood that, except to the extent
otherwise expressly set forth to the contrary in an individual employment-related agreement, the
employment of any employee may be terminated at any time by the Association or, if applicable, any
affiliate that adopts the Plan.

M. Amendment and Termination.

The Board of Directors may terminate or amend the Plan in any respect, unless a Change in Control
has previously occurred. If a Change in Control occurs, the Plan no longer shall be subject to
amendment, change, substitution, deletion, revocation or termination in any respect whatsoever.
The form of any proper amendment or termination of the Plan shall be a written instrument signed by
a duly authorized officer or officers of the Association, certifying that the amendment or
termination has been approved by the Board of Directors. A proper amendment of the Plan
automatically shall effect a corresponding amendment to each Participant’s rights hereunder. A
proper termination of the Plan automatically shall effect a termination of all employees’ rights
and benefits hereunder.

N. Required Provisions.

     (1)
    In the event any of the provisions of this Paragraph N are in conflict with the terms of
this Plan, this Paragraph N shall prevail.

     (2)
    The Association may terminate an employee’s employment at any time, but any termination by
the Association, other than termination for Cause, shall not prejudice an employee’s right

4

 

to compensation or other benefits under this Plan. An employee shall not have the right to
receive compensation or other benefits for any period after termination for Cause.

     (3) If an employee is suspended from office and/or temporarily prohibited from participating
in the conduct of the Association’s affairs by a notice served under Section 8(e)(3) or 8(g)(1) of
the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Association’s obligations
under this Plan shall be suspended as of the date of service, unless stayed by appropriate
proceedings. If the charges in the notice are dismissed, the Association may in its discretion:
(i) pay the employee all or part of the compensation withheld while their contract obligations were
suspended; and (ii) reinstate (in whole or in part) any of the obligations which were suspended.

     (4) If an employee is removed and/or permanently prohibited from participating in the conduct
of the Association’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal
Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or (g)(1), all obligations of the Association under
this Plan shall terminate as of the effective date of the order, but vested rights of the
contracting parties shall not be affected.

     (5) If the Association is in default as defined in Section 3(x)(1) of the Federal Deposit
Insurance Act, 12 U.S.C. §1813(x)(1) all obligations under this Plan shall terminate as of the date
of default, but this paragraph shall not affect any vested rights of the contracting parties.

     (6) All obligations under this Plan shall be terminated, except to the extent determined that
continuation of the Plan is necessary for the continued operation of the Association: (i) by the
Director of the Office of Thrift Supervision (“OTS”), or his designee, at the time the Federal
Deposit Insurance Corporation (“FDIC”) enters into an agreement to provide assistance to or on
behalf of the Association under the authority contained in Section 13(c) of the Federal Deposit
Insurance Act, 12 U.S.C. §1823(c); or (ii) by the Director of the OTS (or his designee) at the time
the Director of the OTS (or his designee) approves a supervisory merger to resolve problems related
to the operations of the Association or when the Association is determined by the Director of the
OTS to be in an unsafe or unsound condition. Any rights of the parties that have already vested,
however, shall not be affected by such action.

     (7) Any payments made to employees pursuant to this Plan, or otherwise, are subject to and
conditioned upon their compliance with 12 U.S.C. §1828(k) and FDIC regulation 12 C.F.R. Part 359,
Golden Parachute and Indemnification Payments.

[Signature Page to Follow]

5

 

This plan has been approved and adopted by the Board of Directors of the Association and is
effective as of [date].

	 	 	 	 	 
	 	

FRATERNITY FEDERAL SAVINGS AND

LOAN ASSOCIATION

 	 
	Attest:                                           	By:  	
 	 
	 	 	For the Entire Board of Directors 	 
	 	 	 	 

6exv4w1

Exhibit 4.1

CERTIFICATE OF DESIGNATIONS

OF

RIGHTS, PREFERENCES, PRIVILEGES AND RESTRICTIONS

OF

SERIES C JUNIOR PARTICIPATING PREFERRED STOCK

OF

QUIDEL CORPORATION

(Pursuant to Section 151(g) of the Delaware General Corporation Law)

     The undersigned, Robert J. Bujarski, Senior Vice President, General Counsel and Corporate
Secretary of Quidel Corporation, a Delaware corporation (the “Corporation”), does hereby certify
that pursuant to the authority conferred upon the Board of Directors of the Corporation (the “Board
of Directors”) by the Certificate of Incorporation of the Corporation (the “Certificate of
Incorporation”), on September 1, 2010, the following resolutions were duly adopted by the Board of
Directors:

     “NOW, THEREFORE, BE IT RESOLVED, that pursuant to the authority vested in the
Board of Directors by the Certificate of Incorporation, the Board of Directors does
hereby provide for the issue of a series of Preferred Stock, par value $.001 per
share, of the Corporation, to be designated “Series C Junior Participating
Preferred Stock” (the “Series C Preferred Stock”), initially consisting of 50,000
shares, and to the extent that the rights, preferences, privileges and restrictions
of the Series C Preferred Stock are not stated and expressed in the Certificate of
Incorporation, does hereby fix and herein state and express such rights,
preferences, privileges and restrictions thereof as follows (all terms used herein
that are defined in the Certificate of Incorporation shall be deemed to have the
meanings provided therein):

     1. Designation and Amount. The shares of such series shall be
designated as “Series C Junior Participating Preferred Stock” and the number of shares constituting such series shall be 50,000. Such number of shares may be
increased or decreased by resolution of the Board of Directors; provided, that no
decrease shall reduce the number of shares of Series C Preferred Stock to a number
less than the number of shares then outstanding plus the number of shares reserved
for issuance upon the exercise of outstanding options, rights or warrants or upon
the conversion of any outstanding securities issued by the Corporation convertible
into Series C Preferred Stock.

 

 

     2. Dividends and Distributions.

     (a) Subject to the prior and superior rights of the holders of any shares of any series of Preferred Shares ranking prior and superior to the shares of Series C Preferred Stock with respect to dividends, the holders of shares of Series C Preferred Stock shall be entitled to receive, when, as and
if declared by the Board of Directors out of funds legally available for the
purpose, quarterly dividends payable in cash on the 15th day of January,
April, July and October and in each year (each a “Quarterly Dividend Payment
Date”), commencing on the first Quarterly Dividend Payment Date after the
first issuance of a share or fraction of a share of Series C Preferred Stock,
in an amount per share (rounded to the nearest cent) equal to, subject to the provision for adjustment hereinafter set
forth, 1,000 times the aggregate per share amount of all cash dividends, and
1,000 times the aggregate per share amount (payable in kind) of all non-cash
dividends or other distributions other than a dividend payable in Common
Shares or a subdivision of the outstanding Common Shares (by reclassification
or otherwise), declared on the Common Shares since the immediately preceding
Quarterly Dividend Payment Date, or, with respect to the first Quarterly
Dividend Payment Date, since the first issuance of any share or fraction of a
share of Series C Preferred Stock. In the event the Corporation shall at any
time: (i) declare any dividend on Common Shares payable in Common Shares,
(ii) subdivide the outstanding Common Shares, or (iii) combine the
outstanding Common Shares into a smaller number of shares, then in each such
case the amount to which holders of shares of Series C Preferred Stock were
entitled immediately prior to such event under the preceding sentence shall
be adjusted by multiplying such amount by a fraction, the numerator of which
is the number of Common Shares outstanding immediately after such event and
the denominator of which is the number of Common Shares that were outstanding
immediately prior to such event.

     (b) The Corporation shall declare a dividend or distribution on the
Series C Preferred Stock as provided in paragraph (a) above concurrently with
any declaration of a dividend or distribution on the Common Shares (other
than a dividend payable in Common Shares).

     (c) Dividends shall begin to accrue and be cumulative on outstanding shares of Series C Preferred Stock from the Quarterly Dividend Payment Date
next preceding the date of issue of such shares of Series C Preferred Stock,
unless the date of issue of such shares is prior to the record date for the
first Quarterly Dividend Payment Date, in which case dividends on such shares
shall begin to accrue from the date of issue of such shares, or unless the
date of issue is a Quarterly Dividend Payment Date or is a date after the
record date for the determination of holders of shares of Series C Preferred
Stock entitled to receive a quarterly dividend

 

 

and before such Quarterly
Dividend Payment Date, in either of which events such dividends shall begin
to accrue and be cumulative from such Quarterly Dividend Payment Date.
Accrued but unpaid dividends shall not bear interest. Dividends paid
on the shares of Series C Preferred Stock in an amount less than the total amount of
such dividends at the time accrued and payable on such shares shall be
allocated pro rata on a share-by-share basis among all such shares at the
time outstanding. The Board of Directors may fix a record date for the
determination of holders of shares of Series C Preferred Stock entitled to
receive payment of a dividend or distribution declared thereon, which record
date shall be no more than 30 days prior to the date fixed for the payment
thereof.

     3. Voting Rights. The holders of shares of Series C Preferred Stock
shall have the following voting rights:

     (a) Subject to the provision for adjustment hereinafter set forth, each
share of Series C Preferred Stock shall entitle the holder thereof to 1,000
votes on all matters submitted to a vote of the stockholders of the
Corporation. In the event the Corporation shall at any time (i) declare any
dividend on Common Shares payable in Common Shares, (ii) subdivide the
outstanding Common Shares, or (iii) combine the outstanding Common Shares
into a smaller number of shares,
then in each case the number of votes per share to which holders of shares of Series C Preferred Stock were entitled immediately prior to such
event shall be adjusted by multiplying such number by a fraction the
numerator of which is the number of Common Shares outstanding immediately
after such event and the denominator of which is the number of Common Shares
that were outstanding immediately prior to such event.

     (b) Except as otherwise provided herein or by law, the holders of shares
of Series C Preferred Stock and the holders of Common Shares shall vote
together as one class on all matters submitted to a vote of stockholders of
the Corporation.

     (c) Except as set forth herein, holders of Series C Preferred Stock
shall have no special voting rights and their consent shall not be required
(except to the extent they are entitled to vote with holders of Common Shares
as set forth herein) for taking any corporate action.

     4. Certain Restrictions.

     (a) The Corporation shall not declare any dividend on, make any
distribution on, or redeem or purchase or otherwise acquire for consideration
any Common Shares after the first issuance of a share or fraction of a share
of Series C Preferred Stock unless concurrently therewith it shall declare a
dividend on the Series C Preferred Stock as required by Section 2
hereof.

 

 

     (b) Whenever quarterly dividends or other dividends or distributions
payable on the Series C Preferred Stock as provided in Section 2 have
been declared but not paid, thereafter and until all accrued and unpaid
dividends and distributions, whether or not declared, on shares of Series C
Preferred Stock outstanding shall have been paid in full, the Corporation
shall not

     (i) declare or pay dividends on, make any other distribution on,
or redeem or purchase or otherwise acquire for consideration any shares of stock ranking junior (either as to dividends or upon
liquidation, dissolution or winding up) to the Series C Preferred
Stock;

     (ii) declare or pay dividends on or make any other distributions
on any shares of stock ranking on a parity (either as to dividends or
upon liquidation, dissolution or winding up) with the Series C
Preferred Stock, except dividends paid ratably on the Series C
Preferred Stock and all such parity stock on which dividends are
payable or in arrears in proportion to the total amounts to which the
holders of all such shares are then entitled;

     (iii) redeem or purchase or otherwise acquire for consideration
shares of any stock ranking on a parity (either as to dividends or
upon liquidation, dissolution or winding up) with the Series C
Preferred Stock, provided that the Corporation may at any time redeem,
purchase or otherwise acquire shares of any such parity stock in
exchange for shares of any stock of the Corporation ranking junior
(either as to dividends or upon dissolution, liquidation or winding
up) to the Series C Preferred Stock;

     (iv) purchase or otherwise acquire for consideration any shares
of Series C Preferred Stock, or any shares of stock ranking on a
parity with the Series C Preferred Stock, except in accordance with a
purchase offer made in writing or by publication (as determined by the
Board of Directors) to all holders of such shares upon such terms as
the Board of Directors, after consideration of the respective annual
dividend rates and other relative rights and preferences of the
respective series and classes, shall determine in good faith will
result in fair and equitable treatment among the respective series or
classes.

     (c) The Corporation shall not permit any subsidiary of the Corporation
to purchase or otherwise acquire for consideration any shares of stock of the
Corporation unless the Corporation could, under paragraph (a) of this
Section 4, purchase or otherwise acquire such shares at such time and
in such manner.

 

 

     5. Reacquired Shares. Any shares of Series C Preferred Stock purchased
or otherwise acquired by the Corporation in any manner whatsoever shall be retired
and canceled promptly after the acquisition thereof. All such shares shall upon
their cancellation become authorized but unissued Preferred Shares and may be
reissued as part of a new series of Preferred Shares to be created by resolution or
resolutions of the Board of Directors, subject to the conditions and restrictions on
issuance set forth herein.

     6. Liquidation, Dissolution or Winding Up.

     (a) Upon any liquidation (voluntary or otherwise), dissolution or
winding up of the Corporation, no distribution shall be made to the holders
of shares of stock ranking junior (either as to dividends or upon
liquidation, dissolution or winding up) to the Series C Preferred Stock
unless, prior thereto, the holders of shares of Series C Preferred Stock
shall have received $1,000 per share, plus an amount equal to accrued and
unpaid dividends and distributions thereon, whether or not declared, to the
date of such payment (the “Series C Liquidation Preference”). Following the
payment of the full amount of the Series C Liquidation Preference, no
additional distributions shall be made to the holders of shares of Series C
Preferred Stock unless, prior thereto, the holders of Common Shares shall
have received an amount per share (the “Common Adjustment”) equal to the
quotient obtained by dividing (i) the Series C Liquidation Preference by (ii)
1,000 (as appropriately adjusted as set forth in subparagraph (c) below to
reflect such events as stock splits, stock dividends and recapitalizations
with respect to the Common Shares) (such number in clause (ii), the
“Adjustment Number”). Following the payment of the full amount of the Series
C Liquidation Preference and the Common Adjustment in respect of all
outstanding shares of Series C Preferred Stock and Common Shares,
respectively, holders of Series C Preferred Stock and holders of Common
Shares shall receive their ratable and proportionate share of remaining
assets to be distributed in the ratio of the Adjustment Number to one (1)
with respect to such Preferred Shares and Common Shares, on a per share
basis, respectively.

     (b) In the event, however, that there are not sufficient assets
available to permit payment in full of the Series C Liquidation Preference
and the liquidation preferences of all other series of Preferred Shares, if
any, which rank on a parity with the Series C Preferred Stock, then such
remaining assets shall be
distributed ratably to the holders of such parity shares in proportion
to their respective liquidation preferences. In the event, however, that
there are not sufficient assets available to permit payment in full of the
Common Adjustment, then such remaining assets shall be distributed ratably to
the holders of Common Shares.

 

 

     (c) In the event the Corporation shall at any time (i) declare any
dividend on Common Shares payable in Common Shares, (ii) subdivide the
outstanding Common Shares, or (iii) combine the outstanding Common Shares
into a smaller number of shares, then in each such case the Adjustment Number
in effect immediately prior to such event shall be adjusted by multiplying
such Adjustment Number by a fraction the numerator of which is the number of
Common Shares outstanding immediately after such event and the denominator of
which is the number of Common Shares that were outstanding immediately prior
to such event.

     7. Consolidation, Merger, etc. In case the Corporation shall enter
into any consolidation, merger, combination or other transaction in which the Common
Shares are exchanged for or changed into other stock or securities, cash and/or any
other property, then in any such case the shares of Series C Preferred Stock shall
at the same time be similarly exchanged or changed in an amount per share (subject
to the provision for adjustment hereinafter set forth) equal to 1,000 times the
aggregate amount of stock, securities, cash and/or any other property (payable in
kind), as the case may be, into which or for which each Common Share is changed or
exchanged. In the event the Corporation shall at any time (i) declare any dividend
on Common Shares payable in Common Shares, (ii) subdivide the outstanding Common
Shares, or (iii) combine the outstanding Common Shares into a smaller number of shares, then in each such case the amount set forth in the preceding sentence with
respect to the exchange or change of shares of Series C Preferred Stock shall be
adjusted by multiplying such amount by a fraction the numerator of which is the
number of Common Shares outstanding immediately after such event and the denominator
of which is the number of Common Shares that were outstanding immediately prior to
such event.

     8. No Redemption. The shares of Series C Preferred Stock shall not be
redeemable.

     9. Ranking. The Series C Preferred Stock shall rank junior to all
other series of Preferred Shares, if any, as to the payment of dividends and the
distribution of assets, unless the terms of any such series shall provide otherwise.

     10. Amendment. The Certificate of Incorporation shall not be further
amended in any manner which would materially alter or change the powers, preferences
or special rights of the Series C Preferred Stock so as to affect them adversely
without the affirmative vote of the holders of a majority or more of the outstanding shares of Series C Preferred Stock, voting separately as a class.

     11. Fractional Shares. Series C Preferred Stock may be issued in
fractions of a share, which shall entitle the holder, in proportion to such holder’s
fractional shares, to exercise voting rights, receive dividends, participate in

 

 

distributions and to have the benefit of all other rights of holders of Series C
Preferred Stock.

     RESOLVED, FURTHER, that the President or any Vice President and the Secretary
or any Assistant Secretary of the Corporation be, and they hereby are, authorized
and directed to prepare and file a Certificate of Designation of Rights,
Preferences, Privileges and Restrictions in accordance with the foregoing resolution
and the provisions of Delaware law and to take such actions as they may deem
necessary or appropriate to carry out the intent of the foregoing resolution.”

     IN WITNESS WHEREOF, this Certificate of Designations is executed on October 5, 2010.

	 	 	 	 	 
	 	QUIDEL CORPORATION,
 a Delaware corporation

 	 
	 	By:  	/s/ ROBJERT J. BUJARSKI
 	 
	 	 	Robert J. Bujarski, 	 
	 	 	Senior Vice President, General Counsel and
 Corporate Secretary

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00180-of-00352.parquet"}]]