Document:

EX-4A

 

Exhibit 4(a)

SECOND AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

SOLUTIA INC.

Adopted in accordance with the provisions

of §303, §242 and §245 of the

General Corporation Law of the State of Delaware

* * * *

     The undersigned, on behalf of Solutia Inc., a corporation duly organized and existing under
and by virtue of the General Corporation Law of the State of Delaware (the “Corporation”),
DOES HEREBY CERTIFY as follows:

     FIRST: The Corporation filed its original Certificate of Incorporation with the Delaware
Secretary of State on April 1, 1997, under the name Queeny Chemical Company.

     SECOND: The Corporation filed a plan of reorganization (the “Plan”) which, pursuant to
chapter 11 of Title 11 of the United States Code, was confirmed, as modified, by an order dated
November 29, 2007 of the United States Bankruptcy Court for the Southern District of New York, a
court having jurisdiction of a proceeding under the United States Bankruptcy Code (the
“Order”), and that such order provides for the making and filing of this Second Amended and
Restated Certificate of Incorporation.

     THIRD: The Board of Directors of the Corporation duly adopted resolutions in accordance with
Section 303, Section 242 and Section 245 of the General Corporation Law of the State of Delaware,
as authorized by the Order, it being necessary to put into effect and carry out the Plan by
amending, integrating and restating the Certificate of Incorporation in its entirety to read as set
forth in Annex A attached hereto and made a part hereof (the “Second Amended and
Restated Certificate”).

 

 

     IN WITNESS WHEREOF, the undersigned on behalf of the Corporation for the purpose of amending
and restating the Restated Certificate of Incorporation, as amended, of the Corporation pursuant to
the General Corporation Law of the State of Delaware, under penalties of perjury does hereby
declare and certify that this is the act and deed of the Corporation and the facts stated herein
are true, and accordingly has hereunto signed this Second Amended and Restated Certificate this
___day of                      2008.

	 	 	 	 	 
	 	SOLUTIA INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

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Annex A

SECOND AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

SOLUTIA INC.

ARTICLE I

NAME

     The name of the corporation is Solutia Inc. (hereinafter, the “Corporation”).

ARTICLE II

REGISTERED OFFICE AND AGENT

     The address of the Corporation’s registered office in the State of Delaware is The Corporation
Trust Center, 1209 Orange Street, Wilmington, New Castle County, 19801. The name of its registered
agent at such address is The Corporation Trust Company.

ARTICLE III

PURPOSE

     The nature of the business or the purpose 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 Delaware
General Corporation Law, as amended (the “DGCL”).

ARTICLE IV

CAPITAL STOCK

     Section 1. Authorized Shares. The total number of shares of capital stock that the
Corporation shall have authority to issue is 600,000,000 shares, consisting of (i) 500,000,000
shares of common stock, par value $0.01 per share (“Common Stock”), and (ii) 100,000,000
shares of preferred stock, par value $0.01 per share (“Preferred Stock”).

     Section 2. Common Stock. Each holder of record of Common Stock shall be entitled to
one (1) vote for each share of Common Stock that is registered in such holder’s name on the books
of the Corporation. The holders of record of Common Stock shall vote together as a single class on
all matters on which holders of the Common Stock are entitled to vote except as otherwise required
by applicable law.

     Section 3. Preferred Stock. Shares of Preferred Stock may be issued from time to time in one or more series. The Board
of Directors of the Corporation is hereby authorized, subject to any limitations prescribed by law,
to provide for the issuance of shares of Preferred Stock in one or more series, to establish from
time to time the number of shares to be included in each such series, and to fix the designations,
powers, preferences and rights of the shares of each such series and any qualifications,
limitations or restrictions thereof (any certificate of

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designation or resolutions adopted by the
Board of Directors of the Corporation designating the designations, powers, preferences and rights
of shares of Preferred Stock, a “Preferred Stock Designation”). The authority of the Board
of Directors of the Corporation with respect to each series shall include, but not be limited to,
determination of the following:

	 	(i)	 	the designation of the series, which may be by distinguishing number,
letter or title;
	 
	 	(ii)	 	the number of shares of the series, which number the Board of Directors of the Corporation may thereafter increase or decrease (but not below the number of
shares thereof then outstanding);
	 
	 	(iii)	 	the amounts payable on, and the preferences, if any, of shares of the series in respect of dividends, and whether such dividends, if any, shall be
cumulative or noncumulative;
	 
	 	(iv)	 	dates at which dividends, if any, shall be payable;
	 
	 	(v)	 	the redemption rights and price or prices, if any, for shares of the
series;
	 
	 	(vi)	 	the terms and amount of any sinking fund providing for the purchase or redemption of shares of the series;
	 
	 	(vii)	 	the amounts payable on, and the preferences (if any) of, shares of the series in the event of any voluntary or involuntary liquidation, dissolution or
winding up of the affairs of the Corporation;
	 
	 	(viii)	 	whether the shares of the series shall be convertible into or exchangeable for shares of any other class or series, or any other security, of the Corporation or
any other corporation or entity, and, if so, the specification of such other class
or series or such other security, the conversion or exchange price or prices or
rate or rates, any adjustments thereof, the date or dates at which such shares
shall be convertible or exchangeable and all other terms and conditions upon which
such conversion or exchange may be made;
	 
	 	(ix)	 	restrictions on the issuance of shares of the same series or of any
other class or series; and
	 
	 	(x)	 	subject to ARTICLE IV, Section 6, the voting rights and powers of the
holders of shares of the series.

     Except as may be provided in this Second Amended and Restated Certificate of Incorporation or
in any Preferred Stock Designation, holders of Preferred Stock shall not be entitled to receive
notice of any meeting of stockholders at which they are not entitled to vote.

     Section 4. No Preemptive Rights. No holders of shares of the Corporation shall have
any preemptive rights.

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     Section 5. Record Holders. The Corporation shall be entitled to treat the person or
entity in whose name any share of its stock is registered as the owner thereof for all purposes and
shall not be bound to recognize any equitable or other claim to, or interest in, such share on the
part of any other person or entity, whether or not the Corporation shall have notice thereof,
except as expressly provided by applicable law.

     Section 6. Nonvoting Stock. The Corporation shall not create, designate, authorize,
or cause to be issued any class or series of nonvoting stock. For the purposes of this ARTICLE IV,
Section 6, any class or series of stock that has only such voting rights as are mandated by the
DGCL shall be deemed to be nonvoting for purposes of the restrictions of this ARTICLE IV, Section
6.

ARTICLE V

PERPETUAL EXISTENCE

     The Corporation shall have perpetual existence.

ARTICLE VI

BOARD OF DIRECTORS

     Section 1. General Powers. The business and affairs of the Corporation shall be
managed by or under the direction of the Board of Directors of the Corporation. The Board of
Directors of the Corporation shall exercise all of the powers and duties conferred by law except as
provided by this Second Amended and Restated Certificate of Incorporation or the bylaws of the
Corporation.

     Section 2. Number of Directors. The total number of directors constituting the entire
Board of Directors of the Corporation shall be not less than three (3) nor more than twelve (12),
the exact number of directors to be determined from time to time by the Board of Directors of the
Corporation; provided, however, that in no case will a decrease in the number of
directors have the effect of removing or shortening the term of any incumbent director.

     Section 3. Classes of Directors. The directors, other than those who may be elected by the holders of any class or series of
Preferred Stock as set forth in the Preferred Stock Designation applicable thereto, shall be
divided, with respect to the time for which they hold office, into three classes, as nearly equal
in number as possible and designated Class I, Class II and Class III. Directors serving as Class I
directors shall be initially elected for a term expiring at the annual meeting of stockholders of
the Corporation to be held in 2009, directors serving as Class II directors shall be initially
elected for a term expiring at the annual meeting of stockholders of the Corporation to be held in
2010, and directors serving as Class III directors shall be initially elected for a term expiring
at the annual meeting of stockholders of the Corporation to be held in 2011. Members of each class
shall hold office until their successors are elected and qualified, subject, however, to such
director’s earlier death, resignation, retirement, disqualification or removal from office. At
each succeeding annual meeting of the stockholders of the Corporation, the successors of the class
of directors whose term expires at that meeting shall be elected for a term expiring at the annual
meeting of stockholders held in the third (3rd) year following the year of such
election. In the case of any increase or decrease from

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time to time in the number of directors of
the Corporation, other than those who may be elected by the holders of any class or series of
Preferred Stock as set forth in the Preferred Stock Designation applicable thereto, any increase or
decrease shall be apportioned among the classes so as to maintain the number of directors in each
class as nearly equal as possible; provided, however, that in no case will a
decrease in the number of directors have the effect of removing or shortening the term of any
incumbent director.

     Section 4. Removal. Subject to the rights, if any, of the holders of shares of any
class or series of Preferred Stock then outstanding to remove directors as set forth in the
Preferred Stock Designation applicable thereto, any director or the entire Board of Directors of
the Corporation may be removed from office at any time, but only for cause and only by the
affirmative vote of the holders of at least a majority of the total voting power of all the shares
of the Corporation entitled to vote generally in the election of directors, voting together as a
single class.

     Section 5. Vacancies. Subject to the rights, if any, of the holders of shares of any
class or series of Preferred Stock then outstanding to elect directors as set forth in the
Preferred Stock Designation applicable thereto, vacancies on the Board of Directors of the
Corporation by reason of death, resignation, retirement, disqualification, removal from office,
newly created directorships resulting from any increase in the authorized number of directors or
otherwise shall be filled only by the Board of Directors of the Corporation, acting by a majority
of the remaining directors then in office, even if 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.

     Section 6. Election of Directors; No Cumulative Voting. No stockholder shall be entitled to cumulate votes on behalf of any candidate at any
election of directors of the Corporation. Election of directors need not be by written ballot
unless the bylaws of the Corporation so provide.

ARTICLE VII

INDEMNIFICATION

     Section 1. Right to Indemnity. Each person who was or is made a party or is
threatened to be made a party to or is involved in any action, suit or proceeding, whether civil,
criminal, administrative, investigative or otherwise (a “proceeding”), by reason of the
fact that such person, or a person of whom such person is the legal representative, is or was a
director or officer of the Corporation, or while a director or officer of the Corporation is or was
serving at the request of the Corporation as a director, officer, employee, fiduciary or agent of
another corporation or of a partnership, joint venture, trust or other enterprise, including,
without limitation, service with respect to employee benefit plans maintained or sponsored by the
Corporation, whether the basis of such proceeding is alleged action in an official capacity as a
director, officer, employee, fiduciary or agent or in any other capacity as a director, officer,
employee, fiduciary or agent, shall be indemnified and held harmless by the Corporation to the
fullest extent permitted by the DGCL, as the same exists or may hereafter be amended (but, in the
case of any such amendment, only to the extent that such amendment permits the Corporation

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to
provide broader indemnification rights than said law permitted the Corporation to
provide prior to
such amendment) against all cost, expense, liability and loss (including, without limitation,
attorneys’ fees actually and reasonably incurred by such person in connection with such
proceeding), and such indemnification shall inure to the benefit of such person’s heirs, executors
and administrators; provided, however, that the Corporation shall indemnify any
person seeking indemnification in connection with a proceeding initiated by such person only if
such proceeding is authorized by the Board of Directors of the Corporation.

     Section 2. Advancement of Expenses. To the fullest extent to which it is permitted to
do so by the DGCL or other applicable law, the Corporation shall, in advance of the final
disposition of the matter, pay the expenses and costs (including attorneys’ fees) reasonably
incurred by any person who is entitled to indemnification pursuant to ARTICLE VII, Section 1 in
defending or otherwise participating in any proceeding and any appeal therefrom for which such
person may be entitled to such indemnification; provided, however, that such
payment of expenses and costs in advance of the final disposition of the proceeding shall be made
only upon receipt by the Corporation of an undertaking by or on behalf of the person to repay all
amounts advanced if it should be ultimately determined that the person is not entitled to be
indemnified by the Corporation.

     Section 3. Contract Rights. The provisions of this ARTICLE VII shall be deemed to be
a contract right between the Corporation and each person who is entitled to indemnification under
this ARTICLE VII and the relevant provisions of the DGCL or other applicable law are in effect.

     Section 4. Insurance. The Corporation may purchase and maintain insurance on its own behalf and on behalf of any
person who is or was a director, officer, employee, fiduciary or agent of the Corporation or was
serving at the request of the Corporation as a director, officer, employee or agent of another
Corporation, partnership, joint venture, trust or other enterprise against any liability asserted
against such person and incurred by such person in any such capacity, or arising out of such
person’s status as such, whether or not the Corporation would have the power to indemnify such
person against such liability under the provisions of this ARTICLE VII or applicable law.

     Section 5. Merger or Consolidation. For purposes of this ARTICLE VII, references to
“the Corporation” shall include, in addition to the resulting corporation, any constituent
corporation (including, without limitation, any constituent of a constituent) absorbed in a
consolidation or merged in a merger which, if its separate existence had continued, would have had
power and authority to indemnify its directors, officers, and employees or agents, so that any
person who is or was a director or officer of such constituent corporation, or is or was serving at
the request of such constituent corporation as a director, officer, employee, fiduciary or agent of
another corporation or of a partnership, joint venture, trust or other enterprise, shall stand in
the same position under this ARTICLE VII with respect to the resulting or surviving corporation as
he or she would have with respect to such constituent corporation if its separate existence had
continued.

     Section 6. Non-Exclusivity of Rights. The rights to indemnification and the
advancement of expenses and costs conferred under this ARTICLE VII shall not be exclusive of

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any
other rights to which those seeking indemnification or advancement of expenses and costs may be
entitled under any applicable law, provision of this Second Amended and Restated Certificate of
Incorporation, bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both
as to action in such person’s official capacity and as to action in another capacity while holding
such office. The Corporation is specifically authorized to enter into individual contracts with
any or all of its directors or officers respecting indemnification and advances, to the fullest
extent not prohibited by the DGCL or by any other applicable law.

     Section 7. Extension; Adjustments. If the DGCL is amended after the date of the
filing of this Second Amended and Restated Certificate of Incorporation to authorize corporate
action further eliminating or limiting the personal liability of directors or permitting
indemnification to a fuller extent, then the liability of a director of the Corporation shall be
eliminated or limited, and indemnification shall be extended, in each case to the fullest extent
permitted by the DGCL, as so amended from time to time.

     Section 8. Amendments. No amendment, repeal or modification of, and no adoption of
any provision inconsistent with, any provision of this ARTICLE VII shall adversely affect any right
or protection of a director or officer of the Corporation existing by virtue of this ARTICLE VII at
the time of such amendment, repeal, modification or adoption.

     Section 9. Indemnification of Employees and Agents. The Corporation may, to the
extent authorized from time to time by the Board of Directors, provide rights to indemnification
and to the advancement of expenses to employees and agents of the Corporation similar to those
conferred in this ARTICLE VII to directors and officers of the Corporation.

ARTICLE VIII

LIMITED LIABILITY OF DIRECTORS

     To the fullest extent permitted by the DGCL as the same exists or may hereafter be amended, a
director of the Corporation shall not be personally liable to the Corporation or its stockholders
for monetary damages for breach of fiduciary duty as a director.

ARTICLE IX

MEETINGS OF STOCKHOLDERS

     Any action required or permitted to be taken by the stockholders of the Corporation, or any
class or series thereof, must be effected at a duly called annual or special meeting of such
stockholders and may not be effected by any consent in writing in lieu of a meeting of such
stockholders. Meetings of stockholders may be held within or without the State of Delaware.
Unless otherwise required by law, special meetings of the stockholders of the Corporation may be
called at any time only by the Board of Directors of the Corporation, the Chairman of the Board of
Directors of the Corporation or 35% of the total voting power of all the shares of the Corporation
entitled to vote generally in the election of directors. Advance notice of stockholder nominations
for the election of directors and of business to be brought by stockholders before any meeting of
the stockholders of the Corporation, or any class or series of thereof, shall be given in the
manner provided in the bylaws of the Corporation.

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ARTICLE X

BYLAWS

     In furtherance and not in limitation of the powers conferred by law, the Board of Directors of
the Corporation is expressly authorized and empowered to adopt, amend and repeal the bylaws of the
Corporation at any regular or special meeting of the Board of Directors of the Corporation or by
written consent, subject to the power of the stockholders of the Corporation to adopt, amend or
repeal any bylaws of the Corporation. Notwithstanding any other provision of this Second Amended
and Restated Certificate of Incorporation or any provision of law which might otherwise permit a
lesser vote or no vote, but in addition to any affirmative vote of the holders of any series of
Preferred Stock required by law, by this Second Amended and Restated Certificate of Incorporation
or by any Preferred Stock Designation providing for any such Preferred Stock, the affirmative vote
of the holders of 662/3% of the total voting power of all the shares of the Corporation entitled to
vote generally in the election of directors, voting together as a single class, shall be required
for the stockholders of the Corporation to alter, amend or repeal, or adopt any provision
inconsistent with, Section 2.3, Section 2.5, Section 2.8, Section 2.10, Section 2.14, Section 2.15,
Section 2.16, Section 3.2, Section 3.3, Section 3.5, Section 3.11, ARTICLE VI or Section 8.1 of the
bylaws of the Corporation.

ARTICLE XI

AMENDMENTS

     The Corporation reserves the right at any time from time to time to amend, alter, change or
repeal any provision contained in this Second Amended and Restated Certificate of Incorporation,
and any other provisions authorized by the laws of the State of Delaware at the time in force may
be added or inserted, in the manner now or hereafter prescribed herein or by applicable law. All
rights, preferences and privileges of whatsoever nature conferred upon stockholders by and pursuant
to this Second Amended and Restated Certificate of Incorporation in its present form or as
hereafter amended are granted subject to the right reserved in this ARTICLE XI. Notwithstanding
any other provision of this Second Amended and Restated Certificate of Incorporation or any
provision of law which might otherwise permit a lesser vote or no vote, but in addition to any
affirmative vote of the holders of any series of Preferred Stock required by law, by this Second
Amended and Restated Certificate of Incorporation or by any Preferred Stock Designation providing
for any such Preferred Stock, the affirmative vote of the holders of at least 662/3% of the total
voting power of all the shares of the Corporation entitled to vote generally in the election of
directors, voting together as a single class, shall be required to amend, alter, change or repeal,
or adopt any provision inconsistent with, ARTICLE IV, ARTICLE VI, ARTICLE VII, ARTICLE VIII,
ARTICLE IX and ARTICLE X and this sentence of this Second Amended and Restated Certificate of
Incorporation.

ARTICLE XII

SEVERABILITY

     If any provision or provisions of this Second Amended and Restated Certificate of
Incorporation shall be held to be invalid, illegal or unenforceable as applied to any circumstance
for any reason whatsoever, then, to the fullest extent permitted by applicable law, the validity,
legality and enforceability of such provisions in any other circumstance and of the remaining
provisions of this Second Amended and Restated Certificate of Incorporation (including, without

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limitation, each portion of any paragraph of this Second Amended and Restated Certificate of
Incorporation containing any such provision held to be invalid, illegal or unenforceable that is
not itself held to be invalid, illegal or unenforceable) shall not in any way be affected or
impaired thereby.

* * * *

10EX-4B

 

 Exhibit 4(b)

AMENDED AND RESTATED BYLAWS

OF

SOLUTIA INC.

(hereinafter called the “Corporation”)

As effective as of February ___, 2008

ARTICLE I

OFFICES AND RECORDS

     Section 1.1. Registered Office. The registered office of the Corporation shall be
fixed in the Corporation’s certificate of incorporation, as the same may be amended and/or restated
from time to time (as so amended and/or restated, the “Certificate of Incorporation”).

     Section 1.2. Other Offices. The Corporation may also have offices at such other
places, both within and without the State of Delaware, as the board of directors of the Corporation
(the “Board of Directors”) may from time to time determine or the business of the Corporation may
require.

     Section 1.3. Books and Records. (a) The books and records of the Corporation may be
kept outside the State of Delaware at such place or places as may from time to time be designated
by the Board of Directors.

          (b) Maintenance of Records. The Corporation shall, either at its principal executive office
or at such place or places as designated by the Board of Directors, keep a record of its
stockholders listing their names and addresses and the number and class of shares held by each
stockholder, a copy of these bylaws, as may be amended to date, minute books, accounting books and
other records.

          (c) Any such records maintained by the Corporation may be kept on, or by means of, or be in
the form of, any information storage device or method, provided that the records so kept
can be converted into clearly legible paper form within a reasonable time. When records are kept
in such manner, a clearly legible paper form produced from or by means of the information storage
device or method shall be admissible in evidence, and accepted for all other purposes, to the same
extent as an original paper form accurately portrays the record. The Corporation shall so convert
any records so kept upon the request of any person or entity entitled to inspect such records
pursuant to the provisions of the Certificate of Incorporation, these bylaws or applicable law.

ARTICLE II

STOCKHOLDERS

     Section 2.1. Place of Meetings. Meetings of stockholders of the Corporation shall be
held at any place, either within or without the State of Delaware, as designated from time to time
by the Board of Directors. The Board of Directors may, in its sole discretion, determine that a

 

 

meeting of stockholders of the Corporation shall not be held at any place, but may instead be held
solely by means of remote communication.

     Section 2.2. Annual Meeting. The annual meeting of the stockholders of the
Corporation shall be held on such date and at such place, if any, and/or by the means of remote
communication, and time as may be fixed by resolution of the Board of Directors from time to time.
At the annual meeting of the stockholders of the Corporation, directors shall be elected and any
other business may be transacted which is properly brought before the annual meeting in accordance
with the procedures set forth in Section 2.14 of these bylaws.

     Section 2.3. Special Meetings. Special meetings of the stockholders of the
Corporation may be called for any purpose and may be held at such time and place, if any, and/or by
means of remote communication, as shall be stated in a notice of meeting or in a duly executed
waiver of notice thereof. Unless otherwise required by law, special meetings of the stockholders
of the Corporation may be called at any time only by the Board of Directors, the Chairman of the
Board of Directors or 35% of the total voting power of all the shares of the Corporation entitled
to vote generally in the election of directors. The Board of Directors or the Chairman of the
Board of Directors calling the special meeting of the stockholders of the Corporation shall
determine the date, time, and place, if any, and/or means of remote communication, of such a
special meeting. No business may be transacted at any special meeting of the stockholders of the
Corporation other than the business specified in the notice of such meeting.

     Section 2.4. Chairman of the Meeting; Conduct of Meetings; Inspection of Elections.
(a) Meetings of stockholders of the Corporation shall be presided over by the chairman of the
meeting, who shall be the Chairman of the Board of Directors or, in the absence thereof, such
person as the Chairman of the Board of Directors shall appoint, or, in the absence thereof or in
the event that the Chairman of the Board of Directors shall fail to make such appointment, any
officer of the Corporation elected by the Board of Directors.

          (b) The secretary of any meeting of the stockholders of the Corporation shall be the Secretary
or Assistant Secretary of the Corporation, or in the absence thereof, such person as the chairman
of the meeting appoints. The secretary of the meeting shall keep the minutes thereof.

          (c) The Board of Directors shall be entitled to make such rules or regulations for the conduct
of meetings of stockholders of the Corporation as it shall deem necessary, appropriate or
convenient from time to time. Subject to such rules and regulations, if any, the chairman of the
meeting shall have the right and authority to prescribe such rules, regulations
and procedures and to do all acts as, in the judgment of such chairman, are necessary,
appropriate or convenient (and not inconsistent with the Certificate of Incorporation or these
bylaws) for the proper conduct of the meeting, including, without limitation, establishing an
agenda of business of the meeting, rules or regulations to maintain order, restrictions on entry to
the meeting after the time fixed for commencement thereof and the fixing of the date and time of
the opening and closing of the polls for each matter upon which the stockholders of the Corporation
will vote at a meeting (and shall announce such at the meeting).

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          (d) The Board of Directors shall appoint one or more inspectors, which inspector or inspectors
may include individuals who serve the Corporation in other capacities, including, without
limitation, as officers, employees, agents or representatives, to act at a meeting of stockholders
of the Corporation and make a written report thereof. One or more persons may be designated as
alternate inspectors to replace any inspector who fails to act. If no inspector or alternate has
been appointed to act or is able to act at a meeting of stockholders of the Corporation, the
chairman of the meeting shall appoint one or more inspectors to act at the meeting. Each
inspector, before discharging his or her duties, shall take an oath faithfully to execute the
duties of inspector with strict impartiality and according to the best of his or her ability. The
inspectors shall have such other duties as may be prescribed by law.

     Section 2.5. Notice. (a) Whenever stockholders of the Corporation are required or
permitted to take any action at a meeting, written notice stating the place, if any, date, and time
of the meeting, the means of remote communication, if any, by which stockholders and proxy holders
may be deemed to be present in person and vote at such meeting, and, in the case of special
meetings, the purpose or purposes of such meeting, shall be given to each stockholder of the
Corporation entitled to vote at such meeting not fewer than ten (10) nor more than sixty (60) days
before the date of the meeting except as otherwise required by law.

          (b) All such notices shall be delivered in writing or by a form of electronic transmission if
receipt thereof has been consented to by the stockholder to whom the notice is given. If mailed,
such notice shall be deemed to be delivered when deposited in the United States mail, postage
prepaid, addressed to the stockholder at his, her or its address as the same appears on the records
of the Corporation. If given by facsimile telecommunication, such notice shall be deemed to be
delivered when directed to a number at which the stockholder has consented to receive notice by
facsimile. Subject to the limitations of Section 2.6 of these bylaws, if given by
electronic transmission, such notice shall be deemed to be delivered: (i) by electronic mail, when
directed to an electronic mail address at which the stockholder has consented to receive notice;
(ii) if by a posting on an electronic network together with separate notice to the stockholder of
such specific posting, upon the later of (x) such posting and (y) the giving of such separate
notice; and (iii) if by any other form of electronic transmission, when directed to the
stockholder. An affidavit of the Secretary or an Assistant Secretary of the Corporation, the
transfer agent of the Corporation or any other agent of the Corporation that the notice has been
given shall, in the absence of fraud, be prima facie evidence of the facts stated therein.

          (c) Whenever notice is required to be given under any provisions of the Delaware General
Corporation Law, as amended (the “DGCL”), the Certificate of Incorporation or these bylaws, a
written waiver thereof, signed by the stockholder entitled to notice, or a waiver by electronic
transmission by the person or entity entitled to notice, whether before or after the time stated
therein, shall be deemed equivalent to notice. Neither the business to be transacted at, nor the
purpose of, any meeting of the stockholders of the Corporation need be specified in any waiver of
notice of such meeting.

          (d) Attendance of a stockholder of the Corporation at a meeting of such stockholders shall
constitute a waiver of notice of such meeting, except when the stockholder

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attends for the express
purpose of objecting at the beginning of the meeting to the transaction of any business because the
meeting is not lawfully called or convened.

          (e) Whenever notice is required to be given under the DGCL, the Certificate of Incorporation
or these bylaws to any stockholder with whom communication is unlawful, the giving of such notice
to such stockholder shall not be required, and there shall be no duty to apply to any governmental
authority or agency for a license or permit to give such notice to such stockholder. Any action or
meeting which shall be taken or held without notice to any such stockholder with whom communication
is unlawful shall have the same force and effect as if such notice had been duly given.

     Section 2.6. Notice by Electronic Delivery. Without limiting the manner by which
notice otherwise may be given effectively to stockholders of the Corporation pursuant to the DGCL,
the Certificate of Incorporation or these bylaws, any notice to stockholders of the Corporation
given by the Corporation under any provision of the DGCL, the Certificate of Incorporation or these
bylaws shall be effective if given by a form of electronic transmission consented to by the
stockholder of the Corporation to whom the notice is given. Any such consent shall be revocable by
the stockholder by written notice to the Corporation. Any such consent shall be deemed revoked if:
(i) the Corporation is unable to deliver by electronic transmission two (2) consecutive notices of
meetings or of other business given by the Corporation in accordance with such consent; and (ii)
such inability becomes known to the Secretary or an Assistant Secretary of the Corporation or to
the transfer agent or other person responsible for the giving of notice. However, the inadvertent
failure to treat such inability as a revocation shall not invalidate any meeting or other action.
For purposes of these bylaws, except as otherwise limited by applicable law, the term “electronic
transmission” means any form of communication not directly involving the physical transmission of
paper that creates a record that may be retained, retrieved, and reviewed by a recipient thereof,
and that may be directly reproduced in paper form by such a recipient through an automated process.

     Section 2.7. Stockholders List. The officer having charge of the stock ledger of the
Corporation shall make, at least ten (10) days before every meeting of the stockholders of the
Corporation, a complete list of the stockholders entitled to vote at such meeting arranged in
alphabetical order, showing the address of each stockholder and the number of shares registered in
the name of each stockholder. Such
list shall be open to the examination of any stockholder of the Corporation for any purpose
germane to the meeting for a period of at least ten (10) days prior to the meeting: (i) on a
reasonably accessible electronic network; provided that the information required to gain
access to such list is provided with the notice of the meeting; and/or (ii) during ordinary
business hours, at the principal place of business of the Corporation. In the event that the
Corporation determines to make the list available on an electronic network, the Corporation may
take reasonable steps to ensure that such information is available only to stockholders of the
Corporation. If the meeting is to be held at a place, then the list shall be produced and kept at
the time and place of the meeting during the whole time thereof and may be inspected by any
stockholder who is present. If the meeting is to be held solely by means of remote communication,
then the list shall also be open to the examination of any stockholder during the whole time of the
meeting on a reasonably accessible electronic network, and the information required to access such
list shall be provided with the notice of the meeting.

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     Section 2.8. Quorum. The holders of a majority of the outstanding shares of capital
stock of the Corporation entitled to vote thereat, present in person or represented by proxy, shall
constitute a quorum for the transaction of business at all meetings of the stockholders of the
Corporation, except as otherwise provided by law or by the Certificate of Incorporation. If a
quorum is not present, the chairman of the meeting or the holders of a majority of the shares of
capital stock of the Corporation present in person or represented by proxy at the meeting, and
entitled to vote at the meeting, may adjourn the meeting to another place, if any, date and time.
When a quorum is once present to commence a meeting of the stockholders of the Corporation, it is
not broken by the subsequent withdrawal of any stockholders or their proxies.

     Section 2.9. Adjournment and Postponement of Meetings. (a) When a meeting of the
stockholders of the Corporation is adjourned to another date, time and place, if any, and/or the
means of remote communication, if any, notice need not be given of the adjourned meeting if the
date, time, place, if any, thereof, and/or the means of remote communication, if any, by which
stockholders and proxy holders may be deemed to be present in person and vote at such adjourned
meeting are announced at the meeting at which the adjournment is taken; provided,
however, that if the adjournment is for more than thirty (30) days, or if after the
adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting
shall be given to each stockholder of the Corporation entitled to vote at the meeting. At any
properly adjourned meeting of the stockholders of the Corporation, the Corporation may transact any
business which might have been transacted at the original meeting.

          (b) Any previously scheduled meeting of the stockholders of the Corporation may be postponed,
and (unless the Certificate of Incorporation otherwise provides) any special meeting of the
stockholders may be cancelled, by resolution of the Board of Directors upon public announcement
given prior to the date previously scheduled for such meeting of stockholders.

          (c) For purposes of these bylaws, “public announcement” shall mean disclosure in a press
release reported by the Dow Jones News Service, Associated Press, PR
Newswire or comparable national news service or in a document publicly filed by the
Corporation with the Securities and Exchange Commission pursuant to Section 13, 14 or 15(d) of the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

     Section 2.10. Vote Required. When a quorum is present, the affirmative vote of the
majority of the shares of capital stock of the Corporation present in person or represented by
proxy at the meeting and entitled to vote on the subject matter shall be the act of the
stockholders of the Corporation, unless the question is one upon which, by express provisions of
applicable law, the Certificate of Incorporation, these bylaws or the instrument of designation of
any series of preferred stock of the Corporation, a different vote is required or provided for
(including, without limitation, the vote required pursuant to Section 3.3 or Section
8.1 of these bylaws), in which case such express provision shall govern and control the
decision of such question. Where a separate vote by class or series is required or provided for,
when a quorum is present, the affirmative vote of a majority of the shares of capital stock of the
Corporation of such class or series present in person or represented by proxy at the meeting and
entitled to vote on the subject matter shall be the act of such class or series of stockholders,
unless the question is one upon

5

 

which, by express provisions of applicable law, the Certificate of
Incorporation, these bylaws or the designation of any series of preferred stock, a different vote
is required or provided for (including, without limitation, the vote required pursuant to
Section 3.3 or Section 8.1 of these bylaws), in which case such express provision
shall govern and control the decision of such question.

     Section 2.11. Voting Rights. Except as otherwise provided by applicable law, each
stockholder of the Corporation shall be entitled to that number of votes for each share of capital
stock held by such stockholder as set forth in the Certificate of Incorporation or, in the case of
preferred stock of the Corporation, in the instrument of designation thereof.

     Section 2.12. Proxies Each stockholder entitled to vote at a meeting of stockholders
of the Corporation may authorize another person or entity to act for such stockholder by proxy in
such manner as proscribed under the DGCL, but no such proxy shall be voted or acted upon after
three (3) years from its date unless such proxy provides for a longer period. At each meeting of
the stockholders of the Corporation, and before any voting commences, all proxies filed at or
before the meeting shall be submitted to and examined by the Secretary of the Corporation or a
person designated by the Secretary of the Corporation, and no shares may be represented or voted
under a proxy that has been found to be invalid or irregular. The revocability of a proxy that
states on its face that it is irrevocable shall be governed by the applicable provisions of the
DGCL.

     Section 2.13. Record Date. (a) In order that the Corporation may determine the
stockholders of the Corporation entitled to notice of or to vote at any meeting of stockholders or
any adjournment thereof, entitled to receive any other notice, entitled to receive payment of any
dividend or other
distribution or allotment of any rights, or entitled to exercise any rights in respect of any
change, conversion or exchange of stock or for the purpose of any other lawful action, the Board of
Directors may fix, in advance, a record date, which record date shall not precede the date on which
the resolution fixing the record date is adopted and which shall not be (x) in the case of a record
date for a meeting of the stockholders of the Corporation, more than sixty (60) nor less than ten
(10) days before the date of such meeting, or (y) in the case of a record date for any other such
action, more than sixty (60) days prior to such action, in either case unless otherwise required
pursuant to the Certificate of Incorporation or applicable law.

          (b) If the Board does not fix a record date in accordance with these bylaws, unless otherwise
required pursuant to the Certificate of Incorporation or applicable law: (i) the record date for
determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at
the close of business on the day next preceding the day on which notice is given, or, if notice is
waived, at the close of business on the day next preceding the day on which the meeting is held; or
(ii) the record date for determining stockholders of the Corporation for any other purpose shall be
at the close of business on the day on which the Board of Directors adopts the resolution relating
thereto.

          (c) A determination of stockholders of record of the Corporation entitled to notice of or to
vote at a meeting of stockholders shall apply to any adjournment of the meeting; provided,
however, that the Board of Directors may fix a new record date for the adjourned meeting.

6

 

     Section 2.14. Advance Notice of Stockholder Business. (a) Only such business shall be
conducted before a meeting of the stockholders of the Corporation as shall have been properly
brought before such meeting. To be properly brought before an annual meeting of the stockholders
of the Corporation, business must be: (i) specified in the notice of meeting (or any supplement or
amendment thereto) given by or at the direction of the Board of Directors; (ii) otherwise properly
brought before the meeting by or at the direction of the Board of Directors; or (iii) otherwise
properly brought before the meeting by any stockholder (x) who is a stockholder of record on the
date of the giving of the notice provided for in this Section 2.14 and on the record date
for the determination of stockholders entitled to vote at such annual meeting and (y) who complies
with the notice procedures set forth in this Section 2.14.

          (b) For such business to be considered properly brought before the meeting by a stockholder of
the Corporation, such stockholder must, in addition to any other applicable requirements, have
given timely notice thereof in proper written form to the Secretary of the Corporation. To be
timely, a stockholder’s notice to the Secretary of the Corporation must be delivered to or mailed
and received by the Secretary of the Corporation at the principal executive office of the
Corporation no fewer than ninety (90) nor more than one hundred twenty (120) days prior to the
first (1st) anniversary of the immediately preceding annual meeting of the stockholders
of the Corporation; provided, however, that in the event that no annual meeting was
held in the previous year or the annual meeting is called for a date that is not within thirty (30)
days before or after such anniversary date, notice by the stockholder to be timely must be so
received not later than the close of business on the tenth (10th) day following the day
on which
notice of the date of the annual meeting was mailed or public announcement of the date of the
annual meeting was made, whichever occurs first. In no event shall the public announcement of an
adjournment or postponement of an announced meeting commence a new time period (or extend any time
period) for the giving of a stockholders notice as provided in this Section 2.14.

          (c) To be in proper written form, a stockholder’s notice to the Secretary of the Corporation
must set forth as to each matter such stockholder proposes to bring before the annual meeting: (i)
a brief description of the business desired to be brought before the annual meeting and the reasons
for conducting such business at the annual meeting; (ii) as to the stockholder giving the notice
and the beneficial owner, if any, on whose behalf the proposal is made (w) the name and address of
such stockholder, as they appear on the Corporation’s books, and of such beneficial owner, (x) the
class or series and number of shares of capital stock of the Corporation which are owned (a)
beneficially and (b) of record by such stockholder and by such beneficial owner, (y) a description
of all arrangements or understandings between such stockholder or such beneficial owner and any
other person or entity (including, without limitation, their names) in connection with the
ownership of the capital stock of the Corporation and the proposal of such business by such
stockholder and such beneficial owner, and any material interest of such stockholder or such
beneficial owner in such business, and (z) whether either such stockholder or beneficial owner
intends to deliver a proxy statement and form of proxy to holders of at least the percentage of the
Corporation’s voting shares required under applicable law to approve the proposal; and (iii) a
representation that such stockholder is a holder of record of stock of the Corporation entitled to
vote at such meeting and intends to appear in person or by proxy at the meeting to introduce the
business specified in the notice. As used herein, shares “beneficially owned” by a person (and
phrases of similar import) shall mean all shares which such person is deemed to beneficially own
pursuant to Rules 13d-3 and 13d-5 under the Securities Exchange

7

 

Act of 1934, as amended, including,
without limitation, shares which are beneficially owned, directly or indirectly, by any other
person with which such person has any agreement, arrangement or understanding for the purpose of
acquiring, holding, voting or disposing of any shares of the capital stock of the Corporation.

          (d) If the chairman of a meeting of the stockholders of the Corporation determines that
business was not properly brought before the meeting in accordance with the foregoing procedures,
the chairman of the meeting shall declare to the meeting that the business was not properly brought
before the meeting and such business shall not be transacted.

          (e) In addition, notwithstanding anything in this Section 2.14 to the contrary, a
stockholder of the Corporation intending to nominate one or more persons for election as a director
at an annual or special meeting of stockholders must comply with Section 2.15 of these
bylaws for such nomination to be properly brought before such meeting.

     Section 2.15. Advance Notice of Director Nominations. (a) Unless otherwise required
by applicable law or the Certificate of Incorporation, only persons who are nominated in accordance
with the following procedures shall be eligible for election as directors of the Corporation,
except as may be otherwise provided in the instrument of designation of any series of preferred
stock of the Corporation with respect to the right of holders of preferred stock of the Corporation
to nominate and elect a specified number of
directors of the Corporation, who shall be nominated as provided therein.

          (b) Nominations of persons for election to the Board of Directors may be made at any annual
meeting of stockholders of the Corporation or at any special meeting of the stockholders of the
Corporation called for the purpose of electing directors and must be: (i) specified in the notice
of meeting (or any supplement or amendment thereto); (ii) made by or at the direction of the Board
of Directors; or (iii) made by any stockholder of the Corporation (x) who is a stockholder of
record on the date of the giving of the notice provided for in this Section 2.15 and on the
record date for the determination of stockholders entitled to vote at such meeting and (y) who
complies with the notice procedures set forth in this Section 2.15.

          (c) In addition to any other applicable requirements, for a nomination to be made by a
stockholder of the Corporation, such stockholder must have given timely notice thereof in proper
written form to the Secretary of the Corporation. To be timely, a stockholder’s notice to the
Secretary of the Corporation must be delivered to or mailed and received at the principal executive
office of the Corporation: (i) in the case of an annual meeting of the stockholders of the
Corporation, no fewer than ninety (90) nor more than one hundred twenty (120) days prior to the
first (1st) anniversary of the immediately preceding annual meeting; provided,
however, that in the event that no annual meeting was held in the previous year or the
annual meeting is called for a date that is not within thirty (30) days before or after such
anniversary date, notice by the stockholder to be timely must be so received not later than the
close of business on the tenth (10th) day following the day on which notice of the date
of the annual meeting was mailed or public announcement of the date of the annual meeting was made,
whichever occurs first, and (ii) in the case of a special meeting of stockholders of the
Corporation called for the purpose of electing directors, not later than the close of business on
the tenth (10th) day following the day on which notice of the date of the special
meeting was

8

 

mailed to the stockholders of the Corporation or public announcement of the date of the
special meeting was made, whichever occurs first. Notwithstanding anything to the contrary in the
immediately preceding sentence, in the event that the number of directors to be elected to the
Board of Directors is increased, a stockholder’s notice required by this Section 2.15 shall
also be considered timely, but only with respect to nominees for any new positions created by such
increase and only if otherwise timely notice of nomination for all other directorships was
delivered by such stockholder in accordance with the requirements of the immediately preceding
sentence, if it shall be delivered to the Secretary of the Corporation at the principal executive
office of the Corporation not later than the close of business on the tenth (10th) day
following the day on which notice to the stockholders of the Corporation was given or public
announcement was made by the Corporation naming all of the nominees for director or specifying the
size of the increase in the number of directors to serve on the Board of Directors, even if such
tenth (10th) day shall be later than the date for which a nomination would otherwise
have been required to be delivered to be timely. In no event shall the public announcement of an
adjournment or postponement of an announced meeting commence a new time period (or extend any time
period) for the giving of a stockholders notice as provided in this Section 2.15.

          (d) To be in proper written form, a stockholder’s notice to the Secretary of the Corporation
must set forth (a) as to each person whom the stockholder of the Corporation proposes to nominate
for election as a director: (i) the name, age, business address, and residence address of the
person; (ii) the principal occupation or employment of the person; (iii)
the class or series and number of shares of capital stock of the Corporation which are owned
beneficially or of record by the person; and (iv) any other information relating to the person that
is required to be disclosed in a proxy statement or other filing required to be made in connection
with a solicitation of proxies for an election of directors pursuant to the Securities Exchange Act
of 1934, as amended, and the rules and regulations promulgated thereunder; and (b) as to the
stockholder giving the notice and the beneficial owner, if any, on whose behalf the director
nomination is made (i) the name and address of such stockholder, as they appear on the
Corporation’s books, and of such beneficial owner; (ii) the class or series and number of shares of
capital stock of the Corporation which are owned (x) beneficially and (y) of record by such
stockholder and by such beneficial owner; (iii) a description of all arrangements or understandings
between such stockholder or such beneficial owner and any other person or entity (including,
without limitation, their names) in connection with the ownership of the capital stock of the
Corporation and the nomination of such nominee(s), and any material interest of such stockholder or
such beneficial owner in such nomination(s); (iv) whether either such stockholder or beneficial
owner intends to deliver a proxy statement and form of proxy to holders of a sufficient number of
holders of the Corporation’s voting shares to elect such nominee or nominees; (v) a representation
that the stockholder giving the notice is a holder of record of stock of the Corporation entitled
to vote at such meeting and that such stockholder intends to appear in person or by proxy at the
meeting to nominate the persons named in its notice; and (vi) any other information relating to
such stockholder or such beneficial owner that would be required to be disclosed in a proxy
statement or other filing required to be made in connection with a solicitation of proxies for an
election of directors pursuant to the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated thereunder. Such notice must be accompanied by a written consent of
each proposed nominee to be named as a nominee and to serve as a director if elected. The
Corporation may require any nominee to furnish such other information (which may include meeting to
discuss the information) as may reasonably be

9

 

required by the Corporation to determine the
eligibility of such nominee to serve as a director of the Corporation.

          (e) If the chairman of a meeting of the stockholders of the Corporation determines that a
nomination was not made in accordance with the foregoing procedures, the chairman of the meeting
shall declare to the meeting that the nomination was defective and such defective nomination shall
be disregarded.

     Section 2.16. No Stockholder Action by Written Consent Without a Meeting. Any action
required or permitted to be taken by the stockholders of the Corporation, or any class or series of
thereof, must be effected at a duly called annual or special meeting of such stockholders and may
not be effected by any consent in writing in lieu of a meeting of such stockholders.

ARTICLE III

DIRECTORS

     Section 3.1. General Powers. The business and affairs of the Corporation shall be
managed by or under the direction
of the Board of Directors. The Board of Directors shall exercise all of the powers and duties
conferred by law except as otherwise provided by the Certificate of Incorporation or these bylaws.

     Section 3.2. Number, Election and Term of Office. (a) The total number of
directors constituting the entire Board of Directors of the Corporation shall be not less than
three (3) nor more than twelve (12), the exact number of directors to be determined from time to
time by the Board of Directors; provided, however, that in no case will a decrease
in the number of directors have the effect of removing or shortening the term of any incumbent
director. Directors of the Corporation need not be stockholders of the Corporation.

          (b) The directors, other than those who may be elected by the holders of any class or series
of preferred stock of the Corporation as set forth in the instrument of designation of such
preferred stock, shall be divided, with respect to the time for which they hold office, into three
classes, as nearly equal in number as possible and designated Class I, Class II and Class III.
Directors serving as Class I directors shall be initially elected for a term expiring at the annual
meeting of stockholders of the Corporation to be held in 2009, directors serving as Class II
directors shall be initially elected for a term expiring at the annual meeting of stockholders of
the Corporation to be held in 2010, and directors serving as Class III directors shall be initially
elected for a term expiring at the annual meeting of stockholders of the Corporation to be held in
2011.

          (c) Members of each class of directors shall hold office until their successors are duly
elected and qualified, subject, however, to such director’s earlier death, resignation, retirement,
disqualification or removal from office. At each succeeding annual meeting of the stockholders of
the Corporation, the successors of the class of directors whose term expires at that meeting shall
be elected for a term expiring at the annual meeting of stockholders of the Corporation held in the
third (3rd) year following the year of such election.

          (d) In the case of any increase or decrease from time to time in the number of directors of
the Corporation, other than those who may be elected by the holders of any class or

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series of
preferred stock of the Corporation as set forth in the instrument of designation of such preferred
stock, any increase or decrease shall be apportioned among the classes so as to maintain the number
of directors in each class as nearly equal as possible; provided, however, that in
no case will a decrease in the number of directors have the effect of removing or shortening the
term of any incumbent director.

          (e) Except as provided in Section 3.5 of these bylaws, other than for those directors
who may be elected by the holders of any class or series of preferred stock of the Corporation as
set forth in the instrument of designation of such preferred stock, a plurality of the votes cast
at any annual meeting of stockholders of the Corporation or any special meeting of the stockholders
of the Corporation called for the purpose of electing directors shall elect directors of the
Corporation. Except as otherwise set forth in the instrument of designation of any class or series
of preferred stock of the Corporation, no stockholder of the Corporation shall
be entitled to cumulate votes on behalf of any candidate at any election of directors of the
Corporation.

          (f) All elections of directors of the Corporation shall be by written ballot, unless otherwise
provided in the Certificate of Incorporation or authorized by the Board of Directors from time to
time. If authorized by the Board of Directors, such requirement of a written ballot shall be
satisfied by a ballot submitted by electronic transmission; provided, however, that
any such electronic transmission must be either set forth or be submitted with information from
which it can be determined that the electronic transmission was authorized.

     Section 3.3. Removal. Subject to the rights, if any, of the holders of shares of any
class or series of preferred stock then outstanding to remove directors as set forth in the
instrument of designation thereof, any director or the entire Board of Directors may be removed
from office at any time, but only for cause and only by the affirmative vote of the holders of at
least a majority of the total voting power of all the shares of the Corporation entitled to vote
generally in the election of directors, voting together as a single class.

     Section 3.4. Resignation. Any director may resign at any time upon notice given in
writing or by electronic transmission to the Corporation. Any resignation shall take effect at the
time specified therein or, if the time when it shall become effective is not specified therein,
immediately upon receipt. Unless otherwise specified therein, the acceptance of any such
resignation shall not be necessary to make it effective.

     Section 3.5. Vacancies and Newly Created Directorships. Subject to the rights, if
any, of the holders of shares of any class or series of preferred stock then outstanding to elect
directors as set forth in the instrument of designation thereof, vacancies on the Board of
Directors by reason of death, resignation, retirement, disqualification, removal from office, newly
created directorships resulting from any increase in the authorized number of directors or
otherwise shall be filled only by the Board of Directors, acting by a majority of the remaining
directors then in office, even if less than a quorum, or by a sole remaining director, and shall
not be filled by the stockholders of the Corporation. 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, retirement, disqualification or removal from office.

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     Section 3.6. Chairman of the Board of Directors; Lead Director. The Board of
Directors shall elect one of its members as the Chairman of the Board of Directors, who shall hold
such office until such director’s earlier death, resignation, retirement, disqualification or
removal from office or the election of any successor by the Board of Directors from time to time.
The Board of Directors may elect one of its members as the Lead Director of the Board of Directors
(which person may, but need not be, the Chairman of the Board of Directors), who shall hold such
office until such director’s earlier death, resignation, retirement,
disqualification or removal from office or the election of any successor by the Board of
Directors from time to time. The Chairman of the Board of Directors shall preside at all meetings
of the stockholders of the Corporation and the Chairman of the Board of Directors or, in the
discretion of the Board of Directors, the Lead Director of the Board of Directors shall preside at
all meetings of the Board of Directors at which he or she is present, and shall have such other
powers and perform such other duties (including, without limitation, as applicable, as an officer
of the Corporation) as may be prescribed by the Board of Directors or provided in these bylaws.

     Section 3.7. Meetings. Meetings of the Board of Directors may be held at such places,
if any, and/or by means of remote communication, dates and times as shall be determined from time
to time by the Board of Directors or as may be specified in a notice of meeting. Special meetings
of the Board of Directors may be called by the Chairman of the Board of Directors, the Lead
Director of the Board of Directors, the Chief Executive Officer of the Corporation or the President
of the Corporation and shall be called by the President or the Secretary if directed by the Board
of Directors.

     Section 3.8. Conduct of Meetings. (a) Meetings of the Board of Directors shall be
presided over by the chairman of the meeting, who shall be the Chairman of the Board of Directors
or, in the discretion of the Board of Directors, the Lead Director of the Board of Directors or, in
the absence thereof, such director as a majority of the directors present at such meeting shall
appoint.

          (b) The secretary of any meeting of the Board of Directors shall be the Secretary or Assistant
Secretary of the Corporation, or in the absence thereof, such person as the chairman of the meeting
appoints. The secretary of the meeting shall keep the minutes thereof.

          (c) The Board of Directors shall be entitled to make such rules or regulations for the conduct
of meetings of the Board of Directors of the Corporation as it shall deem necessary, appropriate or
convenient.

     Section 3.9. Notice. (a) Regular meetings of the Board of Directors may be held
without notice at such time and at such place, if any, and/or means of remote communication, as
shall from time to time be determined by the Board of Directors. Notice of the time, date and
place, if any, and/or means of remote communication, if any, of the meeting and the purpose or
purposes for which the meeting is called, shall be given to each director orally (either in person
or by telephone), in writing (either by hand delivery, mail, courier or facsimile), or by
electronic or other means of remote communication, in each case, directed to each director at that
director’s address, telephone number, facsimile number or electronic mail address, as the case may
be, as shown on the Corporation’s records. Any oral notice may be communicated either to the
director or to a person at the office of the director who the person giving notice has reason to
believe will

12

 

promptly communicate such notice to the director. If the notice is: (i) delivered
personally by hand, by courier, or orally by telephone or otherwise, (ii) sent by facsimile or
(iii) sent by electronic mail, it shall be delivered or sent at least twenty-four (24) hours before
the time of the
holding of the meeting. If the notice is sent by United States mail or courier service, it
shall be deposited in the United States mail or with the courier at least three (3) business days
before the time of the holding of the meeting.

          (b) Whenever notice is required to be given under any provisions of the DGCL, the Certificate
of Incorporation or these bylaws, a written waiver thereof, signed by the director entitled to
notice, or a waiver by electronic transmission by the person entitled to notice, whether before or
after the time stated therein, shall be deemed equivalent to notice. Neither the business to be
transacted at, nor the purpose of, any meeting of the Board of Directors or committee thereof need
be specified in any waiver of notice of such meeting.

          (c) Attendance of a director at a meeting of the Board of Directors shall constitute a waiver
of notice of such meeting, except when the director attends for the express purpose of objecting at
the beginning of the meeting to the transaction of any business because the meeting is not lawfully
called or convened. Participation by means of remote communication, including, without limitation,
by means of conference telephone or other communications equipment by means of which all persons
participating in the meeting can hear each other, shall constitute attendance in person at the
meeting.

     Section 3.10. Quorum and Adjournment. A majority of the total number of directors
shall constitute a quorum for the transaction of business at all meetings of the Board of
Directors, except as otherwise provided by law or by the Certificate of Incorporation. If a quorum
is not present, the Chairman of the Board of Directors, the Lead Director of the Board of Directors
or a majority of the directors present at the meeting, may adjourn the meeting to another place, if
any, date and time. When a quorum is once present to commence a meeting of the Board of Directors,
it is not broken by the subsequent withdrawal of any directors. At any adjourned meeting at which
a quorum is present, any business may be transacted which might have been transacted at the meeting
as originally called.

     Section 3.11. Vote Required. Subject to the rights, if any, of those directors who
may be elected by the holders of any class or series of preferred stock of the Corporation as set
forth in the instrument of designation of such preferred stock, the act by affirmative vote of a
majority of the directors present at a meeting of the Board of Directors at which there is a quorum
shall be an act of the Board of Directors.

     Section 3.12. Board Action by Written Consent Without a Meeting. Unless otherwise
restricted by the Certificate of Incorporation, any action required or permitted to be taken at any
meeting of the Board of Directors may be taken without a meeting if all members of the Board of
Directors consent thereto in writing or by electronic transmission, and the writing or writings or
electronic transmission or transmissions are filed with the minutes of proceedings of the Board of
Directors.

     Section 3.13. Committees. (a) The Board of Directors may by resolution designate one or more committees. Each such
committee shall consist of one or more of the directors of the

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Corporation. The Board of Directors
may designate one or more directors as alternate members of any committee to replace any absent or
disqualified member at any meeting of the committee. In the absence or disqualification of a
member of a committee, the member or members present at any meeting and not disqualified from
voting, whether or not he or they constitute a quorum, may unanimously appoint another member of
the Board of Directors to act at the meeting in the place of any such absent or disqualified
member.

          (b) Any such committee, to the extent provided in these bylaws or in a resolution of the Board
of Directors establishing such committee, shall have and may exercise all the powers and authority
of the Board of Directors in the management of the business and affairs of the Corporation, and may
authorize the seal of the Corporation to be affixed to all papers which may require it, to the
extent permitted under applicable law. Any duly authorized action and otherwise proper action of a
committee of the Board of Directors shall be deemed an action of the Board of Directors for
purposes of these bylaws unless the context of these bylaws shall expressly state otherwise.

          (c) Each committee of the Board of Directors shall keep minutes of its meetings and shall
report its proceedings to the Board of Directors when requested or required by the Board of
Directors.

          (d) Meetings and actions of committees of the Board of Directors shall be governed by, and
held and taken in accordance with, the provisions of Section 3.7, Section 3.8,
Section 3.9, Section 3.10, Section 3.11 and Section 3.12 of these
bylaws, with such changes in the context of those bylaws as are necessary to substitute the
committee and its members for the Board of Directors and its directors and, if there shall be a
chairman of the committee, the Chairman of the Board of Directors for the chairman of the
committee; provided, however, that: (i) the time of regular meetings of committees
may be determined either by resolution of the Board of Directors or by resolution of the committee;
(ii) special meetings of committees may also be called by resolution of the Board of Directors; and
(iii) notice of special meetings of committees shall also be given to all alternate members, who
shall have the right to attend all meetings of the committee. The Board of Directors may adopt
other rules for the government of any committee not inconsistent with the provisions of these
bylaws. Each committee of the Board of Directors may fix its own other rules of procedure not
inconsistent with the provisions of these bylaws or the rules of such committee adopted by the
Board of Directors and shall hold its meetings as provided by such rules, except as may otherwise
be provided by a resolution of the Board of Directors designating such committee or as provided in
these bylaws.

     Section 3.14. Compensation. The Board of Directors shall have authority to fix the
compensation, including, without limitation, fees and reimbursement of expenses, of directors for
services to the Corporation in any capacity.

     Section 3.15. Inspection by Directors. In addition to, and without limiting the powers of, the Board of Directors under the
Certificate of Incorporation, these bylaws or applicable law, any director shall have the right to
examine the Corporation’s stock ledger, a list of its stockholders and its other books and records
for a purpose reasonably related to his or her position as a director.

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     Section 3.16. Corporate Governance. Without otherwise limiting the powers of the
Board of Directors set forth in this Article III and provided that shares of
capital stock of the Corporation are listed for trading on either the Nasdaq Stock Market
(“NASDAQ”) or the New York Stock Exchange (“NYSE”), the Corporation shall comply with the corporate
governance rules and requirements of the NASDAQ or the NYSE, as applicable.

ARTICLE IV

OFFICERS

     Section 4.1. Officers. The officers of the Corporation shall be a Chief Executive
Officer, a Chief Financial Officer, one or more Presidents (at the discretion of the Board of
Directors), a Treasurer, a Secretary and a Controller. The Corporation may also have, at the
discretion of the Board of Directors, one or more Vice Presidents, one or more Assistant
Treasurers, one or more Assistant Secretaries, and any such other officers as may be appointed from
time to time in accordance with the provisions of these bylaws. In addition, the Chairman of the
Board of Directors shall exercise powers and perform such other duties as an officer of the
Corporation as may be prescribed by the Board of Directors. Any number of offices may be held by
the same person. In its discretion, the Board of Directors may choose not to fill any office for
any period as it may deem advisable, except as required by law. The officers of the Corporation
need not be stockholders of the Corporation nor, other than the Chairman of the Board of Directors,
directors of the Corporation.

     Section 4.2. Election of Officers. The Board of Directors shall elect the officers of
the Corporation, except such officers as may be elected in accordance with the provisions of
Section 4.3 of these bylaws, and subject to the rights, if any, of an officer under any
employment contract. Each officer shall hold office until his or her successor is elected and
qualified or until his or her earlier death, resignation or removal. A failure to elect officers
shall not dissolve or otherwise affect the Corporation. Vacancies may be filled or new offices
created and filled by the Board of Directors.

     Section 4.3. Appointment of Subordinate Officers. The Board of Directors may appoint,
or empower the Chief Executive Officer and/or one or more Presidents of the Corporation to appoint,
such other officers and agents as the business of the Corporation may require. Each of such
officers and agents shall hold office for such period, have such authority, and perform such duties
as are provided in these bylaws or as the Board of Directors may from time to time determine.

     Section 4.4. Removal and Resignation. (a) Notwithstanding the provisions of any
employment agreement, any officer of the Corporation may be removed at any time (i) by the Board of
Directors, with or without cause, and (ii) by any other officer of the Corporation upon whom the
Board of Directors has expressly conferred the authority to remove another officer, in such case on
the terms and subject to the conditions upon which such authority was conferred upon such officer.
No elected officer shall have any contractual rights against the Corporation for compensation by
virtue of such election beyond the date of the election of his successor, his death, his
resignation or his removal from office, whichever event shall first occur, except as otherwise
provided in an employment contract or under an employee deferred compensation plan or as otherwise
required by law.

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          (b) Any officer may resign at any time by giving written notice to the Corporation. Any
resignation shall take effect at the time specified therein or, if the time when it shall become
effective is not specified therein, immediately upon receipt. Unless otherwise specified therein,
the acceptance of any such resignation shall not be necessary to make it effective.

     Section 4.5. Vacancies. Any vacancy occurring in any office because of death,
resignation, retirement, disqualification, removal from office or otherwise may be filled as
provided in Section 4.2 and/or Section 4.3 of these bylaws.

     Section 4.6. Chief Executive Officer. Subject to the powers of the Board of
Directors, the Chief Executive Officer shall be responsible for the general management of the
business, affairs and property of the Corporation and control over its officers, agents and
employees, and shall see that all orders and resolutions of the Board of Directors are carried into
effect. The Chief Executive Officer shall have such other powers and perform such other duties as
may be prescribed by the Board of Directors, the Chairman of the Board of Directors or these
bylaws.

     Section 4.7. Chief Financial Officer. Subject to the powers of the Board of Directors,
the Chief Financial Officer shall have the responsibility for the financial affairs of the
Corporation and shall exercise supervisory responsibility for the performance of the duties of the
Treasurer and the Controller of the Corporation. The Chief Financial Officer shall have such other
powers and perform such other duties as may be prescribed by the Board of Directors, the Chairman
of the Board of Directors or these bylaws.

     Section 4.8. President. The President(s) of the Corporation, subject to the powers of
the Board of Directors and the Chief Executive Officer, shall act in general executive capacity,
subject to the supervision and control of the Board of Directors. The President(s) shall have such
other powers and perform such other duties as may be prescribed by the Board of Directors, the
Chairman of the Board of Directors, the Chief Executive Officer or these bylaws.

     Section 4.9. Vice President. The Vice President(s) shall have such powers and perform
such duties as may be prescribed by the Board of Directors, the Chairman of the Board of Directors,
the Chief Executive Officer, the President(s) or these bylaws.

     Section 4.10. Treasurer. The Treasurer shall: (i) have the custody of the corporate
funds and securities; (ii) keep full and accurate accounts of receipts and disbursements of the
Corporation in books belonging to the Corporation; (iii) cause all monies and other valuable
effects of the Corporation to be deposited in the name and to the credit of the Corporation in such
banks as may be authorized by the Board of Directors; and (iv) cause the funds of the Corporation
to be disbursed when such disbursements have been duly authorized, taking proper vouchers for such
disbursements. The Treasurer shall have such other powers and perform such other duties as may be
prescribed by the Board of Directors, the Chairman of the Board of Directors, the Chief Executive
Officer, the Chief Financial Officer or these bylaws.

     Section 4.11. Secretary. The Secretary shall attend all meetings of the Board of
Directors and of the stockholders and record all votes and the minutes of all proceedings in a book
to be kept for that purpose. The Secretary shall give, or cause to be given, notice of all

16

 

meetings
of the stockholders and special meetings of the Board of Directors and, when appropriate, shall
cause the corporate seal to be affixed to any instruments executed on behalf of the Corporation.
The Secretary shall also perform all duties incident to the office of Secretary and such other
duties as may be prescribed by the Board of Directors, the Chairman of the Board of Directors, the
Chief Executive Officer, the President(s) or these bylaws.

     Section 4.12. Assistant Treasurers. The Assistant Treasurer, or if there shall be
more than one, the Assistant Treasurers in the order determined by the Board of Directors, shall,
in the absence or disability of the Treasurer, perform the duties and functions, exercise the
powers and be subject to all of the restrictions of the Treasurer. The Assistant Treasurer(s)
shall have such other powers and perform such other duties as may be prescribed by the Board of
Directors, the Chairman of the Board of Directors, the Chief Financial Officer, the Treasurer or
these bylaws.

     Section 4.13. Assistant Secretaries. The Assistant Secretary, or if there shall be
more than one, the Assistant Secretaries in the order determined by the Board of Directors, shall,
in the absence or disability of the Secretary, perform the duties and functions, exercise the
powers and be subject to all of the restrictions of the Secretary. The Assistant Secretary(ies)
shall have such other powers and perform such other duties as may be prescribed by the Board of
Directors, the Chairman of the Board of Directors, the Chief Executive Officer, the Secretary or
these bylaws.

     Section 4.14. Controller. The Controller shall keep full and accurate account of
receipts and disbursements in the books of the Corporation and render to the Board of Directors,
the Chairman of the Board, the President or Chief Financial Officer, whenever requested, an account
of all his transactions as Controller and of the financial condition of the Corporation. The
Controller shall also perform all duties incident to the office of Controller and such other duties
as may be assigned to him by the Board of Directors, the Chairman of the Board, the Chief Financial
Officer or these bylaws.

     Section 4.15. Delegation of Duties. In the absence, disability or refusal of any
officer to exercise and perform his duties, the Board of Directors may delegate to another officer
such powers or duties.

ARTICLE V

STOCK

     Section 5.1. Stock Certificates. The shares of capital stock of the Corporation shall
be represented by certificates; provided, however, that the Board of Directors may
determine by resolution that shares of some or all of any or all classes or series of stock of the
Corporation shall be uncertificated and shall not be represented by certificates. Any such
resolution shall not apply to shares represented by a certificate until such certificate is
surrendered to the Corporation. Certificates representing shares of capital stock of the
Corporation shall be issued in such form as may be approved by the Board of Directors and shall be
signed by (i) the Chairman of the Board of Directors, the President or a Vice President of the
Corporation and (ii) the Treasurer or Assistant Treasurer or the Secretary or an Assistant
Secretary of the Corporation. The name of the person or entity to whom the shares are issued, with
the number of shares and date of issue, shall be entered on the books of the Corporation.

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     Section 5.2. Facsimile Signatures. Any and all of the signatures on a certificate
representing shares of the Corporation may be a facsimile. In case any officer, transfer agent or
registrar who has signed or whose facsimile signature has been placed upon a certificate shall have
ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be
issued by the Corporation with the same effect as if such person were such officer, transfer agent
or registrar at the date of issue.

     Section 5.3. Special Designations of Shares. If the Corporation is authorized to
issue more than one class of stock or more than one series of any class, (a) to the extent the
shares are represented by certificates, the powers, designations, preferences, and relative,
participating, optional or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in
full or summarized on the face or back of the certificate that the Corporation shall issue to
represent such class or series of stock; provided, however, that, except
as otherwise required by law (including, without limitation, Section 202 of the DGCL), in lieu
of the foregoing requirements, there may be set forth on the face or back of the certificate that
the Corporation shall issue to represent such class or series of stock a statement that the
Corporation will furnish without charge to each stockholder who so requests the powers,
designations, preferences, and relative, participating, optional or other special rights of each
class of stock or series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights; and (b) to the extent the shares are uncertificated, within a reasonable
time after the issuance or transfer of uncertificated shares, the Corporation shall send or cause
to be sent to the registered owner thereof a written notice containing the information required to
be set forth or stated on certificates pursuant to applicable provisions in the DGCL or a statement
that the Corporation will furnish without charge to each stockholder who so requests the powers,
designations, preferences, and relative, participating, optional or other special rights of each
class of stock or series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights.

     Section 5.4. Transfers of Stock. (a) Shares of capital stock of the Corporation shall
only be transferred on the books of the Corporation by the holder of record thereof or by such
holder’s attorney or legal representative duly authorized in writing and, if the shares are
represented by certificates, upon surrender to the Corporation of the certificate or certificates
for such shares endorsed by the appropriate person or persons, with such evidence of the
authenticity of such endorsement, transfer, authorization and other matters as the Corporation may
reasonably require, and accompanied by all necessary stock transfer stamps. For shares of the
Corporation’s capital stock represented by certificates, it shall be the duty of the Corporation to
issue a new certificate to the person or entity entitled thereto, cancel the old certificate or
certificates and record the transaction on its books. No transfer of stock shall be valid as
against the Corporation for any purpose until it shall have been entered in the stock records of
the Corporation by an entry showing from and to whom transferred.

          (b) The Board of Directors shall have power and authority to make such other rules and
regulations as it may deem necessary or proper concerning the issue, transfer and registration of
certificates for shares of capital stock of the Corporation.

          (c) The Board of Directors shall have the authority to appoint one or more banks or trust
companies organized under the laws of the United States or any state thereof to act

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as its transfer
agent or agents or registrar or registrars, or both, in connection with the transfer or
registration of any class or series of securities of the Corporation, and may require stock
certificates to be countersigned or registered by one or more of such transfer agents and/or
registrars.

          (d) The Corporation shall have the authority to enter into and perform any agreement with any
number of stockholders of any one or more classes or series of capital stock of the Corporation to
restrict the transfer of shares of capital stock of the Corporation of any one or more classes or
series owned by such stockholders in any manner permitted by the DGCL.

     Section 5.5. Lost, Stolen or Destroyed Certificates. The Board of Directors may direct a new certificate or certificates representing one or
more shares of capital stock of the Corporation or uncertificated shares to be issued in place of
any certificate or certificates previously issued by the Corporation alleged to have been lost,
stolen or destroyed, upon the making of an affidavit of that fact by the person or entity claiming
the certificate of stock to be lost, stolen or destroyed or may otherwise require production of
such evidence of such loss, theft or destruction as the Board of Directors may in its discretion
require. Without limiting the generality of the foregoing, when authorizing such issue of a new
certificate or certificates or such uncertificated shares, the Board of Directors may, in its
discretion and as a condition precedent to the issuance thereof, require the owner of such lost,
stolen or destroyed certificate or certificates, or such owner’s duly authorized attorney or legal
representative, to give the Corporation a bond sufficient to indemnify the Corporation against any
claim that may be made against the Corporation on account of the loss, theft or destruction of any
such certificate or the issuance of such new certificate.

     Section 5.6. Dividend Record Date. In order that the Corporation may determine the
stockholders of the Corporation entitled to receive payment of any dividend or other distribution
or allotment of any rights, or the stockholders entitled to exercise any rights of change,
conversion or exchange of stock, or for the purposes of any other lawful action, the Board of
Directors may fix a record date, which record date shall be determined in the manner set forth in
Section 2.13 of these bylaws.

     Section 5.7. Registered Stockholders. The Corporation shall be entitled to recognize
the exclusive right of a person or entity registered on its books as the owner of shares of capital
stock of the Corporation to receive dividends and to vote as such owner, to hold liable for calls
and assessments on partly paid shares of capital stock of the Corporation a person or entity
registered on its books as the owner of shares, and shall not be bound to recognize any equitable
or other claim to or interest in such share or shares on the part of any other person or entity,
whether or not it shall have express or other notice thereof, except as otherwise required by law.

     Section 5.8. Subscriptions for Stock. (a) Unless otherwise provided for in the
subscription agreement, subscriptions for shares of the Corporation shall be paid in full at such
time, or in such installments and at such times, as shall be determined by the Board of Directors.
Any call made by the Board of Directors for payment on subscriptions shall be uniform as to all
shares of the same class or as to all shares of the same series. In case of default in the payment
of any installment or call when such payment is due, the Corporation may proceed to collect the
amount due in the same manner as any debt due the Corporation.

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          (b) Upon the face or back of each stock certificate issued to represent any such partly paid
shares, and upon the books and records of the Corporation in the case of uncertificated partly paid
shares, the total amount of the consideration to be paid therefor and the amount paid thereon shall
be stated. Upon the declaration of any dividend on fully paid shares,
the Corporation shall declare a dividend upon partly paid shares of the same class, but only
upon the basis of the percentage of the consideration actually paid thereon.

ARTICLE VI

INDEMNIFICATION

     Section 6.1. Right to Indemnity. Each person who was or is made a party or is
threatened to be made a party to or is involved in any action, suit or proceeding, whether civil,
criminal, administrative, investigative or otherwise (a “proceeding”), by reason of the fact that
such person, or a person of whom such person is the legal representative, is or was a director or
officer of the Corporation, or while a director or officer of the Corporation is or was serving at
the request of the Corporation as a director, officer, employee, fiduciary or agent of another
corporation or of a partnership, joint venture, trust or other enterprise, including, without
limitation, service with respect to employee benefit plans maintained or sponsored by the
Corporation, whether the basis of such proceeding is alleged action in an official capacity as a
director, officer, employee, fiduciary or agent or in any other capacity as a director, officer,
employee, fiduciary or agent, shall be indemnified and held harmless by the Corporation to the
fullest extent permitted by the DGCL, as the same exists or may hereafter be amended (but, in the
case of any such amendment, only to the extent that such amendment permits the Corporation to
provide broader indemnification rights than said law permitted the Corporation to provide prior to
such amendment) against all cost, expense, liability and loss (including, without limitation,
attorneys’ fees actually and reasonably incurred by such person in connection with such
proceeding), and such indemnification shall inure to the benefit of such person’s heirs, executors
and administrators; provided, however, that the Corporation shall indemnify any
person seeking indemnification in connection with a proceeding initiated by such person only if
such proceeding was authorized by the Board of Directors of the Corporation.

     Section 6.2. Advancement of Expenses. To the fullest extent permitted by the DGCL or
other applicable law, the Corporation shall, in advance of the final disposition of the matter, pay
the expenses and costs (including attorneys’ fees) reasonably incurred by any person who is
entitled to indemnification pursuant to Section 6.1 of these bylaws in defending or
otherwise participating in any proceeding and any appeal therefrom for which such person may be
entitled to such indemnification; provided, however, that such payment of expenses
and costs in advance of the final disposition of the proceeding shall be made only upon receipt by
the Corporation of an undertaking by or on behalf of the person to repay all amounts advanced if it
should be ultimately determined that the person is not entitled to be indemnified by the
Corporation.

     Section 6.3. Contract Rights. The provisions of this Article VI shall be
deemed to be a contract right between the Corporation and each director or officer who serves in
any such capacity at any time while this Article VI and the relevant provisions of the DGCL
or other applicable law are in effect.

     Section 6.4. Insurance. The Corporation may purchase and maintain insurance on its

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own behalf and on behalf of any
person who is or was a director, officer, employee, fiduciary or agent of the Corporation or was
serving at the request of the Corporation as a director, officer, employee or agent of another
Corporation, partnership, joint venture, trust or other enterprise against any liability asserted
against such person and incurred by such person in any such capacity, or arising out of such
person’s status as such, whether or not the Corporation would have the power to indemnify such
person against such liability under the provisions of this Article VI or applicable law.

     Section 6.5. Merger or Consolidation. For purposes of this Article VI,
references to “the Corporation” shall include, in addition to the resulting corporation, any
constituent corporation (including, without limitation, any constituent of a constituent) absorbed
in a consolidation or merged in a merger which, if its separate existence had continued, would have
had power and authority to indemnify its directors, officers, and employees or agents, so that any
person who is or was a director or officer of such constituent corporation, or is or was serving at
the request of such constituent corporation as a director, officer, employee, fiduciary or agent of
another corporation or of a partnership, joint venture, trust or other enterprise, shall stand in
the same position under this Article VI with respect to the resulting or surviving
corporation as he or she would have with respect to such constituent corporation if its separate
existence had continued.

     Section 6.6. Non-Exclusivity of Rights. The rights to indemnification and the
advancement of expenses and costs conferred under this Article VI shall not be exclusive of
any other rights to which those seeking indemnification or advancement of expenses and costs may be
entitled under any applicable law, provision of the Certificate of Incorporation, bylaw, agreement,
vote of stockholders or disinterested directors or otherwise, both as to action in such person’s
official capacity and as to action in another capacity while holding such office. The Corporation
is specifically authorized to enter into individual contracts with any or all of its directors or
officers respecting indemnification and advances, to the fullest extent not prohibited by the DGCL
or by any other applicable law.

     Section 6.7. Extension; Adjustments. If the DGCL is amended after the date of the
effectiveness of these bylaws to authorize corporate action further eliminating or limiting the
personal liability of directors or permitting indemnification to a fuller extent, then the
liability of a director of the Corporation shall be eliminated or limited, and indemnification
shall be extended, in each case to the fullest extent permitted by the DGCL, as so amended from
time to time.

     Section 6.8. Amendments. No amendment, repeal or modification of, and no adoption of
any provision inconsistent with, any provision of this Article VI shall adversely affect
any right or protection of a director or officer of the Corporation existing by virtue of this
Article VI at the time of such amendment, repeal, modification or adoption.

     Section 6.9. Indemnification of Employees and Agents. The Corporation may, to the
extent authorized from time to time by the Board of Directors, provide rights to indemnification
and to the advancement of expenses to employees and agents of the Corporation similar to those
conferred in this Article VI to directors and officers of the Corporation.

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ARTICLE VII

GENERAL PROVISIONS

     Section 7.1. Reliance on Books and Records. Each director of the Corporation, each
member of any committee of the Board of Directors and each officer of the Corporation shall, in the
performance of his or her duties, be fully protected in relying in good faith upon the books of
account or other records of the Corporation and upon such information, opinions, reports or
documents presented to the Corporation by any of its officers or employees, or committees of the
Board of Directors so designated, or by any other person or entity as to matters which such
director or committee member reasonably believes are within such other person’s or entity’s
professional or expert competence and who has been selected with reasonable care by or on behalf of
the Corporation.

     Section 7.2. Dividends. Dividends upon the capital stock of the Corporation, subject
to the requirements of the DGCL and the provisions of the Certificate of Incorporation, may be
declared by the Board of Directors from time to time at any regular or special meeting of the Board
of Directors and may be paid in cash, in property or in shares of the capital stock. Before
payment of any dividend, there may be set aside out of any funds of the Corporation available for
dividends such sum or sums as the Board of Directors from time to time, in its absolute discretion,
deems proper as a reserve or reserves to meet contingencies, or for purchasing any of the shares of
capital stock, warrants, rights, options, bonds, debentures, notes, scrip or other securities or
evidences of indebtedness of the Corporation, or for equalizing dividends, or for repairing or
maintaining any property of the Corporation, or for any other proper purpose. The Board of
Directors may modify or abolish any such reserve in the manner in which it was created.

     Section 7.3. Corporate Funds; Checks, Drafts or Orders. The funds of the
Corporation shall be kept in such depositories as shall from time to time be prescribed by the
Board of Directors. All checks, drafts or other orders for the payment of money by or to the
Corporation and all notes and other evidences of indebtedness issued in the name of the Corporation
shall be signed by such officer, officers, agent or agents of the Corporation, and in such manner,
as shall be determined by resolution of the Board of Directors from time to time.

     Section 7.4. Execution of Contracts and Other Instruments. The Board of Directors may
authorize from time to time any officer or agent of the Corporation to enter into any contract or
to execute and deliver any other instrument in the name
of and on behalf of the Corporation. Such authority may be general or confined to specific
instances.

     Section 7.5. Facsimile Signatures. In addition to the provisions for use of facsimile
signatures elsewhere specifically authorized in these bylaws, facsimile signatures of any director
or officer of the Corporation may be used whenever the signature of a director or officer of the
Corporation shall be required, except as otherwise required by law or as directed by the Board of
Directors from time to time.

     Section 7.6. Fiscal Year. The fiscal year of the Corporation shall be fixed, and once
fixed, may thereafter be changed from time to time, by the Board of Directors.

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     Section 7.7. Corporate Seal. The Board of Directors may provide a corporate seal
which shall be in the form of a circle and shall have inscribed thereon the name of the
Corporation, the year of its incorporation and the words “Corporate Seal, Delaware.” The seal may
be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise.

     Section 7.8. Voting Securities Owned By the Corporation. Powers of attorney, proxies,
waivers of notice of meeting, consents, and other instruments relating to securities owned by the
Corporation may be executed in the name of and on behalf of the Corporation by the Chief Executive
Officer, the President, Treasurer or Secretary, any Vice President, Assistant Treasurer or
Assistant Secretary, or any other officer of the Corporation authorized to do so by the Board of
Directors. Any such officer may, in the name of and on behalf of the Corporation, take all such
action as any such officer may deem advisable to vote in person or by proxy at any meeting of
security holders of any corporation in which the Corporation may own securities, and at any such
meeting shall possess and may exercise any and all rights and power incident to the ownership of
such securities and which, as the owner thereof, the Corporation might have possessed and exercised
if present.

     Section 7.9. Audits. The accounts, books and records of the Corporation shall be
audited upon the conclusion of each fiscal year by an independent certified public accountant
selected by the Board of Directors, and it shall be the duty of the Board of Directors to cause
such audit to be done annually.

     Section 7.10. Section Headings. Section headings in these bylaws are for convenience
of reference only and shall not be given any substantive effect in limiting or otherwise construing
any provision herein.

     Section 7.11. Inconsistent Provisions. In the event that any provision of these bylaws is or becomes inconsistent with any
provision of the Certificate of Incorporation, the DGCL or any other applicable law, the provision
of these bylaws shall not be given any effect to the extent of such inconsistency but shall
otherwise be given full force and effect.

ARTICLE VIII

AMENDMENTS

     Section 8.1. Amendments. In furtherance and not in limitation of the powers conferred
by law, the Board of Directors is expressly authorized and empowered to amend and repeal these
bylaws and adopt new bylaws, subject to the power of the stockholders of the Corporation to adopt,
amend or repeal any of these bylaws. Notwithstanding any other provision of these bylaws or any
provision of law which might otherwise permit a lesser vote or no vote, but in addition to any
affirmative vote of the holders of any series of preferred stock of the Corporation required by
law, by the Certificate of Incorporation or by any instrument designating any class or series of
preferred stock of the Corporation, the affirmative vote of the holders of 662/3% of the total voting
power of the shares of the Corporation entitled to vote generally in the election of directors,
voting together as a single class, shall be required for the stockholders of the Corporation to
alter, amend or repeal, or adopt any provision inconsistent with, Section 2.3, Section
2.5, Section 2.8, Section 2.10, Section 2.14, Section 2.15,
Section 2.16, Section 3.2,

23

 

Section 3.3, Section 3.5, Section
3.11, Article VI or this Section 8.1 of these bylaws.

* * * *

24

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