Document:

RYMAN HOSPITALITY PROPERTIES, INC. 
LONG-TERM STOCKHOLDER VALUE CREATION 
RESTRICTED STOCK UNIT AWARD AGREEMENT
(2016 OMNIBUS INCENTIVE PLAN)
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THIS RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) is made and entered into as of the 25th day of February, 2021 (the “Grant Date”), between Ryman Hospitality Properties, Inc., a Delaware corporation (together with its subsidiaries, the “Company”), and ___________ (the “Grantee”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to such terms in the Ryman Hospitality Properties, Inc. 2016 Omnibus Incentive Plan (the “Plan”).
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WHEREAS, the Company has adopted the Plan, which permits the issuance of restricted stock units of the Company (the “Restricted Stock Units” or the “RSUs”); and
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WHEREAS, pursuant to the Plan, the Committee responsible for administering the Plan has granted an award of Restricted Stock Units to the Grantee as provided herein.
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NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
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1.Grant of Restricted Stock Units.
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(a)The Company hereby grants to the Grantee an award (the “Target Award”) of ___ RSUs on the terms and conditions set forth in this Agreement and the Plan. A bookkeeping account will be maintained by the Company to keep track of the RSUs and any dividend equivalent rights that may accrue as provided in Section 4. This Target Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by Grantee other than by will or the laws of descent and distribution or as otherwise permitted by the Plan.
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(b)Except as otherwise provided for herein, all RSUs that are earned pursuant to the provisions of Section 2 below will vest on the fifteenth day following the conclusion of the Performance Period (as such term is defined below), with such date, or such earlier date of vesting provided for below, being known as the “Vesting Date”). Prior to the Vesting Date, the Committee will certify the level of achievement pursuant to the provisions of Section 2 below. On the Vesting Date, the Company shall deliver to the Participant one Share for each vested RSU as described below.  
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2.Target Award Earning and Vesting.
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(a)The total number of RSUs that the Grantee may earn hereunder will range from 0% to 100% of the Target Award, and shall be determined based on the achievement of certain Share price target achievement levels as set forth on Exhibit A attached hereto during the Performance Period (as defined in Exhibit A), as more fully described on Exhibit A and otherwise subject to the limitations set forth therein. Except as otherwise provided for herein, any RSUs (including Dividend Equivalent Units and other dividend equivalent rights related thereto) that are 

not earned prior to the conclusion of the Performance Period shall be forfeited without consideration or any further action by the Grantee or the Company. 
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(b)Except as otherwise determined by the Committee at or after the grant of the Target Award hereunder (subject to Sections 7.5 and 8.2 of the Plan), in the event that the Grantee’s employment with the Company and its Subsidiaries and Affiliates is terminated (other than by reason of death, Disability, or an approved retirement of such Grantee (as determined by the Committee in its sole discretion)) prior to the Vesting Date and prior to the occurrence of a Change in Control, the Grantee shall forfeit such RSUs (including Dividend Equivalent Units and other dividend equivalent rights related thereto that have accrued pursuant to Section 4), and all of the Grantee’s rights with respect thereto shall cease.
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(c)If the Grantee’s employment with the Company and its Subsidiaries and Affiliates is terminated because of death, Disability or an approved retirement of such Grantee (as determined by the Committee in its sole discretion) prior to the end of the Performance Period and prior to the occurrence of a Change in Control, then the Vesting Date shall be the date set forth in Section 1(b), and the Grantee will be entitled to a vesting of the RSUs (including Dividend Equivalent Units and other dividend equivalent rights related thereto), if any, equal to a pro-rated amount of the earned portion of the Target Award determined as of the end of the Performance Period based on the extent to which the performance targets set forth on Exhibit A have been satisfied. The prorated portion of the Target Award that will vest at the end of the Performance Period will be based on the RSUs earned as a result of actual performance, multiplied by a proportion equal to the number of days of the Grantee’s active service during the Performance Period in relation to the total number of days in the Performance Period. The pro-rated number of RSUs (including Dividend Equivalent Units and other dividend equivalent rights related thereto) earned shall be paid at the time the Target Award would have been settled if the Grantee had remained employed at the end of the Performance Period.
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(d)If the Grantee’s employment with the Company and its Subsidiaries and Affiliates is terminated (other than by the Company for Cause or by the Grantee without Good Reason (as defined below) other than in the case of an approved retirement) following a Change in Control that occurs prior to the end of the Performance Period, then the Grantee will be entitled to immediate vesting of the Target Award (including Dividend Equivalent Units and other dividend equivalent rights related thereto) as of the date of such termination (such date being the “Vesting Date” for purposes of this Agreement); provided that in the event of an approved retirement or any other termination of employment described in this Section 2(d), payment of the RSUs may be delayed until the end of the Performance Period if necessary to avoid additional taxes pursuant to Section 409A of the Code. For purposes of this Section 2(d) the term “Good Reason” will be defined as  either (i) a material reduction in Grantee’s salary or benefits, working conditions or management responsibilities, or (ii) a requirement that the Grantee relocate his or her primary place of employment more than 50 miles from Grantee’s current primary place of employment (without Grantee’s prior written consent). 
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3.Payment of Vested Restricted Stock Units. On the Vesting Date, Grantee shall be entitled to receive one Share for each RSU (including Dividend Equivalent Units and other dividend equivalent rights related thereto) which has been earned pursuant to Section 2(a) or to 

which the Grantee is otherwise entitled pursuant to Section 2(c) or Section 2(d) (collectively, the “Vesting RSUs”). Subject to the provisions of the Plan and Section 8(a) hereof, such payment shall be made through the issuance to the Grantee (or to the executors or administrators of the Grantee’s estate, if applicable), as promptly as practicable following the Vesting Date, of a number of Shares equal to the number of such Vesting RSUs.
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4.Dividend Equivalent Rights. Grantee shall receive dividend equivalent rights in respect of the RSUs covered by this Agreement at the time of any payment of dividends to stockholders on Shares.  The RSUs will be credited with a cash amount equal to the cash dividend amount that would be payable to the Grantee as a stockholder in respect of a number of Shares equal to the number of RSUs outstanding and unpaid as of the dividend record date (rounded down to the nearest one cent (or such other convention as may be determined by the Committee in its sole discretion)). The RSUs will be credited with additional RSUs (“Dividend Equivalent Units”) for stock dividends paid on Shares by multiplying the stock dividend paid per Share by the number of RSUs outstanding and unpaid on the dividend record date (rounded down to the nearest whole share (or such other convention as may be determined by the Committee in its sole discretion)). Each cash dividend equivalent right or Dividend Equivalent Unit will vest and be settled or payable at the same time as, and solely to the extent of the vesting of, the RSUs to which such dividend equivalent right or Dividend Equivalent Unit relates.
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5.Rights as a Stockholder.  Except as provided above, the Grantee shall not have voting or any other rights as a stockholder of the Company with respect to RSUs.  Grantee will obtain full voting and other rights as a stockholder of the Company upon the settlement of RSUs in Shares.
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6.Adjustments.  The Committee shall make appropriate adjustments in the terms and conditions of, and the performance criteria included in, the Target Award in recognition of unusual or nonrecurring events affecting the Company, or the financial statements of the Company, or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan. Upon the occurrence of any of the events described in Section 4.2 of the Plan, including but not limited to any Change in Control, spin-off or other similar transaction, the Committee shall make the adjustments described in this Section 6.  Any such adjustments shall be made in a manner provided in Section 4.2 of the Plan and in a manner that does not result in a discretionary increase in the amounts payable under the Target Award. 
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7.Amendment to Target Award. Subject to the restrictions contained in the Plan, the Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate the Target Award, prospectively or retroactively; provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would materially and adversely affect the rights of the Grantee or any holder or beneficiary of the Target Award shall not to that extent be effective without the consent of the Grantee, holder or beneficiary affected.

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8.Taxes; Section 409A.
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(a)Upon the delivery of Shares pursuant to Section 3 hereof, the Grantee shall remit to the Company the minimum amount necessary to satisfy the Withholding Tax Obligation (as defined below) with respect to the RSUs that are being settled as a condition to the Company’s issuance of any Shares.  The payment shall be in cash or at the election of Grantee by means of: (i) the delivery of Shares previously owned by Grantee, subject to applicable legal requirements, and held for the requisite period of time as may be required to avoid the Company incurring any adverse accounting charge; (ii) a reduction in the number of Shares otherwise deliverable upon vesting or other amounts otherwise payable to the Grantee pursuant to this Agreement; or (iii) a combination of (i) and/or (ii).  The value of any Shares delivered or withheld as payment in respect of the Withholding Tax Obligation shall be determined by reference to the Fair Market Value of such Shares as of the date of such withholding or delivery.   For purposes hereof, the “Withholding Tax Obligation” means the minimum amount necessary to satisfy Federal, state, local or foreign withholding tax requirements, if any, in connection with vesting of all or a portion of the RSUs; provided, however, that, in the sole discretion of the Company, the Company may allow the Grantee to withhold an additional amount or additional number of Shares to satisfy an additional amount of withholding taxes up to the maximum individual statutory rate in the applicable jurisdiction, but only if such additional withholding, or the discretion to elect such additional withholding, does not result in adverse accounting treatment of the RSUs to the Company. 
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(b)Notwithstanding anything herein to the contrary, to the maximum extent permitted by applicable law, the settlement of the RSUs (including any dividend equivalent rights) to be made to the Grantee pursuant to this Agreement is intended to qualify as a “short-term deferral” pursuant to Section 1.409A-1(b)(4) of the Regulations and this Agreement shall be interpreted consistently therewith.  However, under certain circumstances, including where Grantee has elected to defer settlement of this Target Award, settlement of the RSUs or any dividend equivalent rights may not so qualify, and in that case, the Committee shall administer the grant and settlement of such RSUs and any dividend equivalent rights in strict compliance with Section 409A of the Code, including but not limited to delaying, if and to the extent required, the issuance of Shares contemplated hereunder. Each payment of RSUs (and related dividend equivalent rights) constitutes a “separate payment” for purposes of Section 409A of the Code.
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9.No Right to Continued Employment. Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the Grantee any right to continued employment by the Company or any of its Subsidiaries or Affiliates, nor shall this Agreement or the Plan interfere in any way with the right of the Company or any of its Subsidiaries or Affiliates to terminate the Grantee’s employment at any time for any reason whatsoever, whether or not with cause.
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10.Plan Governs. The Grantee hereby acknowledges receipt of a copy of the Plan and agrees to be bound by all the terms and provisions thereof. The terms of this Agreement are governed by the terms of the Plan, and in the case of any inconsistency between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall govern.
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11.Severability. If any provision of this Agreement is, or becomes, or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Person or the Target Award, or would disqualify the Plan or Target Award under any laws deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or this Agreement, such provision shall be stricken as to such jurisdiction, Person or Target Award, and the remainder of the Plan and this Agreement shall remain in full force and effect.
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12.Notices. All notices required to be given under this Grant shall be deemed to be received if delivered or mailed as provided for herein, to the parties at the following addresses, or to such other address as either party may provide in writing from time to time.
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To the Company:Ryman Hospitality Properties, Inc.
One Gaylord Drive
Nashville, Tennessee 37214
Attn: General Counsel 
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		To the Grantee:
	The address then maintained with respect to the Grantee in the Company’s records.

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13.Governing Law. The validity, construction and effect of this Agreement shall be determined in accordance with the laws of the State of Delaware without giving effect to conflicts of laws principles.
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14.Successors in Interest. This Agreement shall inure to the benefit of and be binding upon any successor to the Company. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company under this Agreement shall be binding upon the Grantee’s heirs, executors, administrators and successors.
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15.Resolution of Disputes. Any dispute or disagreement which may arise under, or as a result of, or in any way related to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee and the Company for all purposes.
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[signature page follows]

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed effective as of the day and year first above written.
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RYMAN HOSPITALITY PROPERTIES, INC. 
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By: ______________________________________
Scott J. Lynn, EVP & General Counsel
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GRANTEE:
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__________________________________________
Signature
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EXHIBIT A 
1.Share Price Targets. 
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The RSUs shall be earned based on the Company’s achievement of up to two (2) Share price targets during the Performance Period.  Specifically, on each Target Price Achievement Date that occurs during the Performance Period, a number of RSUs equal to fifty percent (50%) of the Target Award shall be earned for each Target Price Level that is achieved on such Target Price Achievement Date, rounded up to the nearest whole RSU.  
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If, on a given Target Price Achievement Date, more than one Target Price Level is achieved for the first time, then the number of RSUs that shall be earned on such Target Achievement Date shall be equal to the product of (i) fifty percent (50%) of the Target Award multiplied by (ii) the number of Target Price Levels that are achieved for the first time on such Target Price Achievement Date, rounded up to the nearest whole RSU.  No more than one Target Price Achievement Date may occur during the Performance Period with respect to each Target Price Level.  If, during the Performance Period, a Target Price Achievement Date occurs with respect to the highest Target Price Level (i.e., $109.05), then the number of RSUs that shall be earned on such Target Price Achievement Date shall be reduced, if necessary, such that the total number of RSUs that are earned during the Performance Period shall be equal to 100% of the Target Award.  
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For the avoidance of doubt, RSUs that are earned pursuant to this Exhibit A remain subject to vesting as provided in Section 2 of this Agreement.
 
2.Definitions. For purposes of this Agreement:
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(a)“Performance Period” means the period beginning on March 1, 2021 and ending on March 1, 2024.
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(b)“Target Price Achievement Date” means, with respect to a Target Price Level, the date on which the average volume weighted average price of a Share over a consecutive twenty (20) day trading period is equal to or greater than the Target Price Level.
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(c)“Target Price Level” means $100.98 and $109.05, respectively.Document

Exhibit 4.2
DESCRIPTION OF THE REGISTRANT’S SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

Stamps.com Inc. (“Stamps.com,” “we” or “us”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”): our common stock, par value $0.001 per share (the “common stock”).

DESCRIPTION OF COMMON STOCK

The following summary description sets forth some of the general terms and provisions of the common stock. Because this is a summary description, it does not contain all of the information that may be important to you. For a more detailed description of the common stock, you should refer to the provisions of our amended and restated certificate of incorporation and the amendments thereto (collectively, the “certificate of incorporation”) and our amended and restated bylaws, each of which is an exhibit to the Annual Report on Form 10-K to which this description is an exhibit.

Under our certificate of incorporation, we are authorized to issue up to 47.5 million shares of common stock with a par value of $0.001 per share and up to 2.5 million shares of preferred stock with a par value of $0.001 per shares (the “preferred stock”).

Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of the stockholders. Holders of common stock are entitled to receive dividends ratably, if any, as may be declared by the Board of Directors out of legally available funds, subject to any preferential dividend rights of any outstanding preferred stock. Upon our liquidation, dissolution or winding up, the holders of common stock are entitled to receive ratably our net assets available after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock. Holders of common stock have no preemptive, sinking fund, subscription, redemption or conversion rights. Holders of shares of common stock do not have cumulative voting rights. The outstanding shares of common stock are fully paid and nonassessable. The rights, preferences and privileges of holders of common stock are subject to, and may be adversely affected by, the rights of holders of shares of any series of preferred stock which we may designate and issue in the future without further stockholder approval.

Preferred Stock
The Board of Directors is authorized without further stockholder approval, to issue from time to time up to a total of 2.5 million shares of preferred stock in one or more series and to fix or alter the designations, preferences, rights and any qualifications, limitations or restrictions of the shares of each series, including the dividend rights, dividend rates, conversion rights, voting rights, term of redemption, redemption price or prices, liquidation preferences and the number of shares constituting any series or designations of these series without further vote or action by the stockholders. The issuance of preferred stock may have the effect of delaying, deferring or preventing a change in control of our management without further action by the stockholders and may adversely affect the voting and other rights of the holders of common stock. 

The issuance of preferred stock with voting and conversion rights may adversely affect the voting power of the holders of common stock, including the loss of voting control to others.

Anti-Takeover Effects of Provisions of Delaware Law and our Certificate of Incorporation and Bylaws
We are subject to the provisions of Section 203 of the Delaware General Corporation Law. Subject to exceptions, Section 203 prohibits a publicly-held Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a period of three years from the date of the transaction in which the person became an interested stockholder, unless the interested stockholder attained this status with the approval of the board of directors or unless the business combination is approved in a prescribed manner. A "business combination" includes mergers, asset sales and other transactions resulting in a financial benefit to the interested stockholder. Subject to exceptions, an "interested stockholder" is a person who, together with affiliates and associates, owns, or within three years did own, 15% or more of the corporation's voting stock. This statute could prohibit or delay the accomplishment of mergers or other takeover or change in control in attempts with respect to us and, accordingly, may discourage attempts to acquire us.

In addition, provisions of our certificate of incorporation and bylaws, may be deemed to have an anti-takeover effect and may delay, defer or prevent a tender offer or takeover attempt that a stockholder might consider in his best interest, including those attempts that might result in a premium over the market price for the shares held by our stockholders.

Advance Notice Requirements for Stockholder Proposals and Director Nominations. The bylaws provide that stockholders seeking to bring business before an annual meeting of stockholders, or to nominate candidates for election as directors at an annual meeting of stockholders, must provide timely notice thereof in writing. To be timely, a stockholder's notice must be delivered to or mailed and received at our principal executive offices not less than one hundred twenty (120) but no more than one hundred fifty (150) calendar days prior to the date of our annual meeting. The bylaws also specify requirements as to the form and content of a stockholder's notice. These provisions may preclude stockholders from bringing matters before an annual meeting of stockholders or from making nominations for directors at an annual meeting of stockholders.

Authorized But Unissued Shares. The authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval. These additional shares may be utilized for a variety of corporate purposes, including future public offerings to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares of common stock and preferred stock could render more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.

Classified Board of Directors; Removal. Our directors are divided into three classes. The number of directors is distributed among the three classes so that each class will consist of one- third of the Board of Directors. The classification of the Board of Directors has the effect of requiring at least two annual stockholder meetings, instead of one, to replace a majority of the directors which could have the effect of delaying or preventing a change in control of Stamps.com. Subject to the rights of the holders of any outstanding series of preferred stock, the certificate of incorporation authorizes only the Board of 

Directors to fill vacancies, including newly created directorships. The certificate of incorporation also provides that directors may be removed by stockholders only for cause and only by the affirmative vote of holders of two-thirds of the outstanding shares of voting stock.

Supermajority Vote to Amend Charter and Bylaws. Our certificate of incorporation and bylaws each provide that our bylaws may only be amended by a two-thirds vote of the outstanding shares. In addition, our certificate of incorporation provides that its provisions related to bylaw amendments, staggered board and indemnification may only be amended by a two-thirds vote of the outstanding shares.

Power to Call Special Stockholder Meeting. Under Delaware law, a special meeting of stockholders may be called by our board of directors or by any other person authorized to do so in the certificate of incorporation or bylaws. Pursuant to our bylaws, special meetings of the stockholders may only be called by the Board of Directors. 

Forum Selection Clause
Under our bylaws, unless we consent in writing to the selection of an alternative forum, the sole and exclusive forum for making certain types of claims shall be the Court of Chancery in the State of Delaware (except that, in the event the Delaware Court of Chancery lacks subject matter jurisdiction over any such action or proceeding, then the sole and exclusive forum for such action or proceeding shall be the federal district court for the District of Delaware). This provision applies to (a) any derivative action or proceeding brought on behalf of Stamps.com, (b) any action asserting a claim of breach of a fiduciary duty owed by any director, officer, employee or agent of Stamps.com to Stamps.com or our stockholders, including a claim alleging the aiding and abetting of such a breach of fiduciary duty, (c) any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law or our certificate of incorporation or bylaws, or (d) any action asserting a claim governed by the internal affairs doctrine of the State of Delaware.

NOL Protective Provision

Our certificate of incorporation contains certain net operating loss protective provisions (the “NOL Protective Measures”), which are more specifically described in our Definitive Proxy filed with the SEC on April 2, 2008.  Generally, the NOL Protective Measures provide that any person, company or investment firm that wishes to become a “5% shareholder” (as defined in our certificate of incorporation) must first obtain a waiver from our board of directors. In addition, any person, company or investment firm that is already a “5% shareholder” of ours cannot make any additional purchases of our stock without a waiver from our board of directors.
On July 22, 2010, our board of directors suspended the NOL Protective Measures by approving a waiver from the NOL Protective Measures to all persons and entities, including companies and investment firms.  As a result, our stockholders are now allowed to become “5% shareholders” and existing “5% shareholders” are allowed to make additional purchases of our stock each without having to comply with the restrictions contained in the NOL Protective Measures. Our board of directors may revoke this waiver at any time if the board deems the revocation necessary to protect against a Section 382 “change of ownership” that would limit our ability to utilize future NOLs.  

If our board of directors were to revoke the existing waiver of our NOL Protective Measures so that the measures operated again to prevent new "5% shareholders," then the NOL Protective Measures could be deemed to have an “anti-takeover” effect because, among other things, they would restrict the ability of a person, entity or group to accumulate more than 5% of our common stock and the ability of persons, entities or groups now owning more than 5% of our common stock to acquire additional shares of our common stock without the approval of our board of directors.  As a result, our board of directors might be able to prevent any future takeover attempt. Therefore, the NOL Protective Measures could discourage or prevent accumulations of substantial blocks of shares in which our stockholders might receive a substantial premium above market value and might tend to insulate management against the possibility of removal.

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