Document:

EXECUTION COPY          

 

LIMITED GUARANTY

 

LIMITED GUARANTY, dated as of January 25, 2018 (this “Guaranty”), by VOLT INFORMATION SCIENCES, INC., a New York corporation (the “Guarantor”), in favor of DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN, NEW YORK BRANCH (“DZ Bank”), as agent (in such capacity, the “Agent”) for the benefit of AUTOBAHN FUNDING COMPANY LLC (“Autobahn”), as Lender (in such capacity, the “Conduit Lender”), Autobahn and DZ Bank, as Letter of Credit issuers (in such capacity, the “LC Issuers) and the other lenders (together with the Conduit Lender, the “Lenders”) and LC Participants (together with the LC Issuers, the “LC Parties”) from time to time party to the Receivables Loan and Security Agreement, dated as of the date hereof (as amended, modified, supplemented or restated from time to time in accordance with its terms, the “Loan Agreement”), among VOLT FUNDING II, LLC (the “Borrower”), the Guarantor, the Lenders, the LC Parties and the Agent.  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Loan Agreement.

 

W I T N E S S E T H:

 

WHEREAS, the Guarantor directly owns all of the issued and outstanding membership interests in the Borrower and is expected to derive substantial direct and indirect benefit from the transactions contemplated by the Loan Agreement and the other Basic Documents;

 

WHEREAS, the Guarantor intends to act as the Servicer pursuant to the Loan Agreement, and indirectly owns (or, to the extent hereafter added pursuant to the PSA, will own) each of the Originators (the Guarantor, including in its capacity as Servicer, and the Originators and Borrower referred to herein as the “Volt Parties”);

 

WHEREAS, the Lenders have agreed to make Advances from time to time for the account of the Borrower pursuant to, and subject to the terms and conditions of, the Loan Agreement.  The obligation of the Lenders to make such Advances under the Loan Agreement is conditioned on the execution and delivery by the Guarantor of a guaranty in the form hereof of certain Obligations of the Borrower; and

 

WHEREAS, the LC Issuer has agreed to in its sole discretion issue or cause the issuance of Letters of Credit pursuant to, and subject to the terms and conditions of, the Loan Agreement.  The obligation of the LC Issuer to issue or cause the issuance of such Letters of Credit under the Loan Agreement is conditioned on the execution and delivery by the Guarantor of a guaranty in the form hereof of certain Obligations of the Borrower;

 

NOW, THEREFORE, in consideration of the premises and in order to induce the Lenders to make Advances, and the LC Issuers to issue or cause the issuance of Letters of Credit, under the Loan Agreement, the Guarantor hereby agrees as follows:

 

Section 1.          Guaranty.

 

(a)          The Guarantor hereby irrevocably and unconditionally guarantees to the Agent, the Lenders and the LC Parties (collectively, the “Guaranteed Parties”) (expressly subject to the limitations set forth in the last sentence of this Section 1(a)) that, in the event any Originator or the Servicer shall fail in any manner whatsoever to perform or observe any of the terms, covenants, conditions, agreements and undertakings to be performed or observed by it under the PSA, the Loan Agreement or any of the other Basic Documents in accordance with the respective terms thereof, including, without limitation, all obligations of Originators in respect of indemnification pursuant to Article X of the PSA and in respect of the covenants in Article VII of the PSA, and the obligations of any Servicer in respect of Section 7.07 of the Loan Agreement, and all obligations of any Servicer in respect of indemnification set forth in the Loan Agreement and the other Basic Documents (all such terms, covenants, conditions, agreements and undertakings on the part of any Originator or Servicer to be performed or observed being collectively called the “Volt Obligations”), when the same shall be required to be performed or observed under the PSA, the Loan Agreement and the other Basic Documents, then the Guarantor shall guarantee and ensure that an Originator, the Servicer or the Guarantor duly and punctually performs and observes each Volt Obligation. It shall not be a condition to the accrual of the obligation of the Guarantor hereunder to guarantee and ensure the performance or observance of any of the Volt Obligations that the Agent, any Lender or any LC Party shall have first made any request of or demand upon or given any notice to the Guarantor, an Originator, a Servicer or any other Person or have instituted any action or proceeding against the Guarantor or any other Person in respect thereof.  For the sake of clarity, it is expressly acknowledged that, subject to Section 1(b) hereof, the guaranty of the Volt Obligations by the Guarantor does not include a guaranty of the Borrower’s obligation to repay the Loans outstanding under the Loan Agreement.

 

(b)          Notwithstanding the foregoing, or any other provision herein to the contrary, the Guarantor hereby irrevocably and unconditionally guarantees, as a primary obligor and not as a surety, the due and punctual payment and performance when due (whether at stated maturity, by required prepayment, declaration, demand, acceleration or otherwise) of the Loans under the Loan Agreement and all other obligations of the Borrower under any other Basic Document  (including any interest, fees, costs or charges that would accrue but for the provisions of the Title 11 of the United States Code after any bankruptcy or insolvency petition under Title 11 of the United States Code) (collectively, the “Borrower Obligations”; the Volt Obligations and, upon and only upon the occurrence of the events identified in this Section 1(b), the Borrower Obligations, referred to herein as the “Guaranteed Obligations”), and the Borrower’s Obligations shall become full recourse to the Guarantor, upon the occurrence of any of the following:

 

(i)          a voluntary bankruptcy or insolvency proceeding is commenced by the Borrower under the United States Bankruptcy Code or any similar federal or state law;

 

(ii)          an involuntary bankruptcy or insolvency proceeding is commenced against the Borrower in connection with which the Borrower or any of its Affiliates has or have colluded in any way with the creditors commencing or filing such proceedings; and

 

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(iii)          any breach of the separateness representations and warranties set forth in Section 4.01(c) of the Loan Agreement that results in the substantive consolidation of any of the assets and/or liabilities of the Borrower with any other Person in connection with any proceeding under any law (foreign or domestic) relating to bankruptcy, insolvency, reorganization, winding up, debt arrangement, marshalling of assets, dissolution or composition or adjustment of debts or other similar law.

 

The Guarantor hereby agrees that, upon the occurrence of any of the foregoing events, if the Borrower shall fail to pay in full when due (whether at stated maturity, by acceleration or otherwise) any of the Borrower’s Obligations, the Guarantor will promptly pay the same in cash, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Borrower’s Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or otherwise) in accordance with the terms of such extension or renewal.

 

(c)          In addition to the foregoing, the Guarantor shall be liable to the Guaranteed Parties for any costs, claims, reasonable expenses or other liabilities actually incurred by the Guaranteed Parties resulting from any of the following matters (for the sake of clarity, it is expressly acknowledged that the liability of the Guarantor under this subsection (c) shall be expressly limited to the items set forth below in this subsection (c) and in no event shall include a guaranty of or liability for the Borrower’s obligation to repay the Loans outstanding under the Loan Agreement):

 

(i)          fraud, intentional misrepresentation, willful misconduct or gross negligence by the Guarantor, the Servicer, any Originator or the Borrower (collectively, the “Volt Parties”), in connection with the execution and delivery of this Guaranty, the PSA, the Loan Agreement or any of the other Basic Documents, or any certificate, report, financial statement or other instrument or document furnished to any Guaranteed Party at the time of the closing of the Loan Agreement or during the term of the Loan Agreement; and

 

(ii) the forfeiture by Borrower of any Receivables because of the conduct or purported conduct of criminal activity by a Volt Party in connection therewith;

 

(iii) the misapplication, misappropriation or conversion by or on behalf of a Volt Party of any of the Collateral or the proceeds thereof;

 

(iv) a breach by the Borrower of any covenant set forth in Section 5.01(b)-(s) of the Loan Agreement;

 

(v) the Borrower’s failure to obtain the written consent of the Required Lenders and the Agent prior to engaging in any of the activities set forth in Section 5.03of the Loan Agreement.

 

(d)          Nothing herein shall be deemed a waiver of any right which any of the Guaranteed Parties may have under the United States Bankruptcy Code to file a claim for the full amount of the outstanding Obligations or to require that all Collateral shall continue to secure all of the outstanding Obligations owing to any such Guaranteed Party in accordance with the Loan Agreement or any other Basic Document.

 

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(e)          Without limitation to any other provision hereof, it is hereby acknowledged and agreed that any payments made by the Guarantor, in any capacity, in connection with or pursuant to any other Basic Document shall not in any way set off or reduce any obligation hereunder or be deemed to be a payment made hereunder.

 

(f)          Manner of Payment.  In the event that the Guaranteed Obligations are not paid or performed at the time due for payment or performance as set forth in Section 1(a), the Guarantor shall, from time to time, make such payment to an account designated by the Agent or cause such performance to be made, in each case within ten (10) Business Days of the earlier of (x) knowledge that such Guaranteed Obligations were not paid or performed or (y) receiving notice from the Deal Agent that such Guaranteed Obligations were not paid or performed.

 

Section 2.          Waiver.  The Guarantor hereby absolutely, unconditionally and irrevocably waives, to the fullest extent permitted by law, (i) promptness, diligence, notice of acceptance and any other notice (other than notices expressly required by the terms of this Guaranty) with respect to this Guaranty, (ii) presentment, demand of payment, protest, notice of dishonor or nonpayment and any other notice (other than notices expressly required by the terms of this Guaranty) with respect to the Guaranteed Obligations, (iii) any requirement that any of the Guaranteed Parties protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against the Borrower or any other Person (including any other guarantor under the Basic Documents) or any Collateral, and (iv) any other action, event or precondition (except as expressly set forth in this Guaranty) to the enforcement of this Guaranty or the performance by the Guarantor of the obligations hereunder.

 

Section 3.          Guaranty Absolute.

 

(a)          Subject to Section 1, the Guarantor guarantees that, to the fullest extent permitted by law, the Guaranteed Obligations will be paid or performed strictly in accordance with their terms, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of any of the Guaranteed Parties with respect thereto.

 

(b)          No invalidity, irregularity, voidability, voidness or unenforceability of, or default under, the Loan Agreement or any other Basic Document or any other agreement or instrument relating thereto, or of all or any part of the Guaranteed Obligations or of any security therefor shall affect, impair or be a defense to this Guaranty.

 

(c)          This Guaranty is one of payment and performance, not collection, and the obligations of the Guarantor under this Guaranty are independent of the Obligations of the Borrower, and the obligations of the Originators, the Servicer and any other Person (including any other guarantor under the Basic Documents), and a separate action or actions may be brought and prosecuted against the Guarantor to enforce this Guaranty, irrespective of whether any action is brought against the Borrower or any other Person (including any other guarantor under the Basic Documents) or whether the Borrower or any other Person (including any other guarantor under the Basic Documents) is joined in any such action or actions.

 

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(d)          The liability of the Guarantor under this Guaranty shall be absolute and unconditional irrespective of:

 

(i)          any change in the time, manner, place or terms of payment or performance of, and/or any change or extension of the time of payment, performance, renewal or alteration of, all or any part of the Guaranteed Obligations, any security therefor or any liability incurred directly or indirectly in respect thereof, or any other amendment or waiver of, or any consent to a departure from the terms of, the Loan Agreement or any other Basic Document, including any increase in the Guaranteed Obligations resulting from the extension of additional credit to the Borrower or otherwise;

 

(ii)          any sale, taking, exchange, release, surrender, or realization upon any property at any time pledged or mortgaged to secure, or howsoever securing, all or any of the Guaranteed Obligations, and/or any offset against, or failure to perfect, or continue the perfection of, any lien in any such property, or delay in the perfection of any such lien, or any amendment or waiver of, or consent to a departure from the terms of, any guaranty for all or any part of the Guaranteed Obligations;

 

(iii)          any exercise or failure to exercise any rights against the Borrower or any other Person (including the Guarantor and any other guarantor under the Basic Documents);

 

(iv)          any settlement or compromise of any Guaranteed Obligation, any security therefor or any liability incurred directly or indirectly in respect thereof;

 

(v)          any manner of application of Collateral, or proceeds thereof, to all or any of the Guaranteed Obligations, or any manner of sale or other disposition of any Collateral for all or any part of the Guaranteed Obligations or any other assets of the Borrower;

 

(vi)          any change, restructuring or termination of the existence of the Borrower; or

 

(vii)          any other agreements or circumstance of any nature whatsoever which might otherwise constitute a defense available to, or a discharge of, this Guaranty and/or the obligations of the Guarantor hereunder, or a defense to, or discharge of, the Borrower or any other Person (including any other guarantor under the Basic Documents) of any of their respective obligations under or related to any of the Basic Documents.

 

(e)          The Agent may at any time and from time to time (whether or not after revocation or termination of this Guaranty) without the consent of, or notice (except as shall be required by applicable statute and cannot be waived) to, the Guarantor, and without incurring responsibility to the Guarantor or impairing or releasing the obligations of the Guarantor hereunder, apply any sums by whomsoever paid or howsoever realized to any Guaranteed Obligation regardless of what Guaranteed Obligations remain unpaid.

 

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(f)          This Guaranty shall continue to be effective or be reinstated, as the case may be, if claim is ever made upon any of the Guaranteed Parties for repayment or recovery of any amount or amounts received by such Guaranteed Party in payment or on account of any of the Guaranteed Obligations and such Guaranteed Party repays all or part of said amount by reason of any judgment, decree or order of any court or administrative body having jurisdiction over such Guaranteed Party or its property, or any settlement or compromise of any such claim effected by such Guaranteed Party with any such claimant (including the Borrower), and in such event the Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding upon the Guarantor, notwithstanding any revocation hereof or the cancellation of any note or other instrument evidencing any Guaranteed Obligation, and the Guarantor shall be and remain liable to the Guaranteed Parties hereunder for the amount so repaid or recovered to the same extent as if such amount had never originally been received by the Guaranteed Parties.

 

Section 4.          Continuing Guaranty.  This Guaranty is a continuing one and shall (i) remain in full force and effect until the indefeasible payment and satisfaction in full of the Guaranteed Obligations, (ii) be binding upon the Guarantor, its successors and assigns, and (iii) inure to the benefit of, and be enforceable by, each of the Guaranteed Parties and its successors, transferees and assigns; provided that this Guaranty shall continue to be effective or be reinstated, as the case may be, as provided for in Section 3.  All obligations to which this Guaranty applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon.

 

Section 5.          Representations, Warranties and Covenants.  The Guarantor hereby represents, warrants and covenants that the obligations of the Guarantor under this Guaranty do rank and will rank at least pari passu in priority of payment and in all other respects with all unsecured indebtedness of the Guarantor.

 

Section 6.          Expenses.  The Guarantor will upon demand reimburse any of the Guaranteed Parties for any sums and any reasonable costs and expenses which such Guaranteed Party may pay or incur pursuant to the provisions of this Guarantee or in negotiating, executing, perfecting, defending, protecting or enforcing this Guarantee or otherwise in connection with the provisions hereof, including court costs, collection charges, travel expenses and reasonable attorneys’ fees and expenses, together with interest thereon as specified in Section 11 below.

 

Section 7.          Terms.

 

(a)          All terms defined in the UCC of the State of New York and used herein shall have the meanings as defined in the UCC of the State of New York, unless the context otherwise requires.

 

(b)          The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.

 

(c)          All references herein to Sections and subsections shall be deemed to be references to Sections and subsections of this Guaranty unless the context shall otherwise require.

 

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Section 8.          Amendments and Modification.  No amendment, modification or waiver of any provision of the Guaranty or consent to any departure by the Guarantor herefrom shall be effective unless in a writing expressly referring to this Guaranty and to such provision signed by the Agent (and, in the case of any amendment, also signed by the Guarantor), and then such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

 

Section 9.          Subordination of Subrogation Rights.  The Guarantor hereby waives and releases any and all rights and claims it may now or hereafter have or acquire against the Borrower that would constitute it a “creditor” of such party for purposes of the United States Bankruptcy Code, including all rights of subrogation against the Borrower and its property and all rights of indemnification, contribution and reimbursement from the Borrower and its property, regardless of whether such rights arise in connection with this Guaranty, by operation of law, pursuant to contract or otherwise.  In connection therewith, the Guarantor will not exercise any rights which it may acquire by way of subrogation under this Guaranty, by any payment made hereunder or otherwise, until all the Guaranteed Obligations and all other amounts payable under this Guaranty shall have been indefeasibly paid in full.  If any amount shall be paid to the Guarantor on account of such subrogation rights at any time prior to the indefeasible payment in full of the Guaranteed Obligations and all other amounts payable under this Guaranty, such amount shall be held in trust for the benefit of the Agent and shall forthwith be paid to the Agent to be credited and applied upon the Guaranteed Obligations, in accordance with the terms of the Basic Documents.

 

Section 10.          Statute of Limitations.  Any acknowledgment or new promise, whether by payment of principal or interest or otherwise and whether by the Borrower or any other Person (including the Guarantor), with respect to any of the Guaranteed Obligations shall, if the statute of limitations in favor of the Guarantor against the Guaranteed Parties shall have commenced to run, toll the running of such statute of limitations and, if the period of such statute of limitations shall have expired, prevent the operation of such statute of limitations.

 

Section 11.          Interest.  All amounts payable from time to time by the Guarantor hereunder shall bear interest at the Default Interest Rate.

 

Section 12.          Rights and Remedies Not Waived.  No act, omission or delay by any of the Guaranteed Parties and no failure on the part of any Guaranteed Party to exercise, and no delay in exercising, any right hereunder shall constitute a waiver of its rights and remedies hereunder or otherwise.  No single or partial waiver by the Agent of any default hereunder or any right or remedy which it may have shall operate as a waiver of any other default, right or remedy or of the same default, right or remedy on a future occasion, and no single or partial exercise of any right hereunder shall preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 

Section 13.          Admissibility of Guaranty.  The Guarantor agrees that any copy of this Guaranty signed by the Guarantor and transmitted by facsimile or other electronic transmission for delivery to the Agent shall be admissible in evidence as the original itself in any judicial or administrative proceeding, whether or not the original is in existence.

 

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Section 14.          Notices.  All notices, requests and demands to or upon the Agent or the Guarantor under this Guaranty shall be in writing and given as provided in the Loan Agreement.

 

Section 15.          Counterparts.  This Guaranty may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original and all of which shall together constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Guaranty by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Guaranty.

 

Section 16.          GOVERNING LAW; CONSENT TO JURISDICTION; JURY WAIVER.  THIS GUARANTY SHALL, IN ACCORDANCE WITH SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD CALL FOR THE APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES DISTRICT COURT LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK CITY, AND, BY EXECUTION AND DELIVERY OF THIS GUARANTY, THE GUARANTOR HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.  THE GUARANTOR HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION ARISING DIRECTLY OR INDIRECTLY OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREUNDER.

 

Section 17.          Captions; Severability.

 

(a)          The captions of the Sections and subsections of this Guaranty have been inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Guaranty.

 

(b)          If any term of this Guaranty shall be held to be invalid, illegal or unenforceable, the validity of all other terms hereof shall in no way be affected thereby.

 

Section 18.          Acknowledgment of Receipt.  The Guarantor acknowledges receipt of a copy of this Guaranty and of each of the Basic Documents.

 

[Continued on Next Page.]

 

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IN WITNESS WHEREOF, the Guarantor has duly executed this Guaranty as of the date first above set forth.

 

	
 

	
VOLT INFORMATION SCIENCES, INC.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	 	By:	/s/ Kevin D. Hannon
	 		Name:	Kevin D. Hannon
	 		Title:	VP & Treasurer

 

 

 

 

 

 

 

Signature Page to the Limited Guaranty

 

Acknowledged and accepted

as of the date first above set forth.

DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK,

FRANKFURT AM MAIN, NEW YORK BRANCH,

 as Agent

	
By:

	
/s/ Christian Haesslein

	
 

	
 

	
Name:

	
Christian Haesslein

	
 

	
 

	
Title:

	Director	
 

 

 

	
By:

	
/s/ Eva Geng

	
 

	
 

	
Name:

	
Eva Geng

	
 

	
 

	
Title:

	
Assistant Vice President

	
 

 

 

 

 

 

 

 

 

Signature Page to the Limited GuarantyEX-4.1

 Exhibit 4.1 

CERTIFICATE OF INCORPORATION 

OF 
 SOLID BIOSCIENCES
INC. 
 The undersigned, for purposes of incorporating a corporation under the General Corporation Law of the State of Delaware, does
hereby certify as follows: 
 ARTICLE I 

NAME 
 The name of the
Corporation is: Solid Biosciences Inc. (the “Corporation”). 
 ARTICLE II 

REGISTERED OFFICE AND AGENT 

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

 PURPOSE 
 The
purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the “DGCL”). The Corporation is being incorporated in
connection with the conversion of Solid Biosciences, LLC, a Delaware limited liability company (the “LLC”), to the Corporation, and this Certificate of Incorporation is being filed simultaneously with the Certificate of Conversion
of the LLC to the Corporation. 
 ARTICLE IV 

CAPITAL STOCK 
 The
aggregate number of shares that the Corporation shall have authority to issue is 310,000,000 shares consisting of: 
 1. 300,000,000 shares
of Common Stock, $0.001 par value per share (the “Common Stock”); and 
 2. 10,000,000 shares of Preferred Stock, $0.001 par
value per share (the “Preferred Stock”). 

  
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 Section 1.    Common Stock. 

(a)    Each share of Common Stock issued and outstanding shall be identical in all respects one with the other and no
dividends shall be paid on any shares of Common Stock unless the same dividend is paid on all shares of Common Stock outstanding at the time of such payment. 

(b)    Except for and subject to those rights expressly granted to the holders of the Preferred Stock, or except as may be
provided by the DGCL, the holders of Common Stock shall have exclusively all other rights of stockholders, including, but not by way of limitation, (i) the right to receive dividends, when, as and if declared by the Board of Directors out of
assets lawfully available therefor, and (ii) in the event of any distribution of assets upon liquidation, dissolution or winding up of the Corporation or otherwise, the right to receive ratably and equally all the assets and funds of the
Corporation remaining after payment of all of the Corporation’s debts and other liabilities and payment to the holders of any then outstanding shares of Preferred Stock of the specific amounts that they are entitled to receive upon such
liquidation, dissolution or winding up of the Corporation as herein provided. 
 (c)    Each holder of shares of Common
Stock shall be entitled to one vote for each share of such Common Stock held by such holder, and voting power with respect to all classes of securities of the Corporation shall be vested solely in the Common Stock, other than as specifically
provided in this Certificate of Incorporation, as it may be amended, with respect to the Preferred Stock. 
 (d)    The
Common Stock shall not be convertible into, or exchangeable for, shares of any other class or classes or of any other series of the same class of the Corporation’s capital stock. 

(e)    No holder of Common Stock shall have any preemptive rights with respect to the Common Stock or any other securities
of the Corporation or to any obligations convertible (directly or indirectly) into securities of the Corporation whether now or hereafter authorized. 

Section 2.    Preferred Stock. 

Authority is hereby vested in the Board of Directors of the Corporation to provide for the issuance of Preferred Stock in one or more series
and in connection therewith to fix by resolution providing for the issue of any such series, the number of shares to be included and such of the preferences and relative participating, optional or other special rights and limitations of such series,
including, without limitation, rights of redemption or conversion into Common Stock, to the fullest extent now or hereafter permitted by the DGCL. The authority of the Board of Directors with respect to each series of Preferred Stock 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 may thereafter increase or decrease (but not below the number of shares thereof then outstanding); 

  
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	 	    	(iii)    whether dividends, if any, shall be cumulative or noncumulative and the dividend rate of the series; 

  

	 	    	(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 provided 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 shares of any other class or series, or any other security, of the Corporation or any other entity, and, if so, the specification
of such other class or series of such other security, the conversion price or prices or rate or rates, any adjustments thereof, the date or dates at which such shares shall be convertible and all other terms and conditions upon which such conversion
may be made; 

  

	 	    	(ix)    restrictions on the issuance of shares of the same series or of any other class or series; 

  

	 	    	(x)    the voting rights, if any, of the holders of shares of the series; and 

  

	 	    	(xi)    such other powers, privileges, preferences and rights, and qualifications, limitations and restrictions thereof, as the Board of Directors shall determine. 

Section 3.    Conversion of Limited Liability Company Interests. 

Upon the filing of the Certificate of Conversion of the LLC to the Corporation and this Certificate of Incorporation or, if such certificates
provide that they are not to become effective until a specified later date, upon such specified later effective date (the “Effective Time”) each limited liability company unit of the LLC issued and outstanding immediately prior to
the Effective Time will be deemed to be 0.8485 issued and outstanding fully paid and nonassessable share of Common Stock. Notwithstanding the foregoing, there shall be no fractional shares of Common Stock issued in connection with the conversion
and, in lieu thereof, the Corporation shall pay to each former holder of limited liability company units otherwise entitled to receive any such fraction an amount equal to the fair value thereof, as determined in good faith by the Board of
Directors. 

  
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 ARTICLE V 

BOARD OF DIRECTORS 

Section 1.    Number of Directors. 

The number of directors that shall constitute the Board of Directors shall be fixed from time to time by resolution adopted by the affirmative
vote of a majority of the total number of directors then in office. 
 Section 2.    Classes of Directors.

 The Board of Directors shall be and is divided into three classes, as nearly equal in number as possible, designated: Class I,
Class II and Class III. In case of any increase or decrease, from time to time, in the number of directors, the number of directors shall be apportioned as nearly equal as possible. No decrease in the number of directors shall shorten the
term of any incumbent director. 
 Section 3.    Election and Term of Office. 

The directors shall be elected in accordance with the procedures set forth in the Bylaws of the Corporation (the “Bylaws”),
as permitted by law. Each director shall serve for a term ending on the date of the third annual meeting of stockholders following the annual meeting at which such director was elected; provided, that each director initially appointed to
Class I shall serve for an initial term expiring at the Corporation’s first annual meeting of stockholders following the effectiveness of this provision; each director initially appointed to Class II shall serve for an initial term
expiring at the Corporation’s second annual meeting of stockholders following the effectiveness of this provision; and each director initially appointed to Class III shall serve for an initial term expiring at the Corporation’s third
annual meeting of stockholders following the effectiveness of this provision. The directors shall be elected and shall hold office only in this manner, except as expressly provided in Section 4 and Section 5 of this Article V. Each
director shall hold office until a successor is duly elected and qualified or until his or her earlier death, resignation, retirement, disqualification or removal. Elections of directors need not be by written ballot unless the Bylaws shall so
provide. 
 Section 4.    Newly Created Directorships and Vacancies. 

Newly created directorships resulting from any increase in the number of directors or any vacancies in the Board of Directors resulting from
expansion of the Board of Directors, death, resignation, retirement, disqualification, removal from office or any other cause may be filled, so long as there is at least one remaining director, only by the Board of Directors, provided that a quorum
is then in office and present, or by a majority of the directors then in office, if less than a quorum is then in office, or by the sole remaining director. Directors elected to fill vacancies shall have the same remaining term as that of his or her
predecessor. 
 Section 5.    Removal of Directors. 

Directors may be removed from office only for cause and, in addition to any vote required by law, the affirmative vote of the holders of at
least two-thirds of the voting power of all then outstanding shares of capital stock of the Corporation entitled to vote generally in an election of directors, voting together as a single class, shall be required to effect such removal. 

  
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 Section 6.    Rights of Holders of Preferred Stock. 

Notwithstanding the provisions of this Article V, whenever the holders of one or more series of Preferred Stock issued by the Corporation
shall have the right, voting separately or together by series, to elect directors at an annual or special meeting of stockholders, the election, term of office, filling of vacancies and other features of such directorship shall be governed by the
rights of such Preferred Stock as set forth in this Certificate of Incorporation or the certificate of designation governing such series. 

ARTICLE VI 
 ANNUAL
MEETING 
 The annual meeting of stockholders for the election of directors and for the transaction of such other business as may
properly come before the meeting shall be held at such date, time and place, if any, as shall be determined solely by the resolution of the Board of Directors in its sole and absolute discretion, including, without limitation, by remote electronic
communication technology. 
 ARTICLE VII 

BYLAWS 
 The Board of
Directors is expressly authorized to adopt, amend or repeal the Bylaws. The affirmative vote of at least a majority of the entire Board of Directors shall be required to adopt, amend or repeal the Bylaws. Notwithstanding the foregoing and anything
contained in this Certificate of Incorporation to the contrary, the Bylaws shall not be amended or repealed by the stockholders, and no provision inconsistent therewith shall be adopted by the stockholders, without the affirmative vote of the
holders of at least two-thirds of the voting power of all outstanding shares of the Corporation entitled to vote generally in the election of directors, voting together as a single class. 

ARTICLE VIII 

LIMITATION OF LIABILITY 

To the fullest extent permitted by the DGCL as it now 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 director protection rights than permitted prior thereto), no director of the Corporation shall be personally liable to the Corporation or any of its stockholders for monetary
damages arising from a breach of fiduciary duty owed to the Corporation or its stockholders. Any repeal or modification of this Article VIII by the stockholders of the Corporation shall not adversely affect any right or protection of a director of
the Corporation existing at the time of such repeal or modification with respect to acts or omissions occurring prior to such repeal or modification. 

ARTICLE IX 

INDEMNIFICATION 
 The
Corporation shall indemnify its directors to the fullest extent permitted by the DGCL as it now exists or may hereafter be amended (but, in the case of any such amendment, only to 

  
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the extent that such amendment permits the Corporation to provide broader protection rights than permitted prior thereto), and such right to indemnification shall continue as to a person who has
ceased to be a director of the Corporation and shall inure to the benefit of his or her heirs, executors and personal and legal representatives; provided, that, except for proceedings to enforce rights and indemnification, the Corporation shall not
be obligated to indemnify any director (or his or her heirs, executors or personal or legal representatives) in connection with a proceeding (or part thereof) initiated by such person unless such proceeding (or part thereof) was authorized or
consented by the Board of Directors. The right to indemnification conferred by this Article X shall include the right to be paid by the Corporation the expenses incurred in defending or otherwise participating in any proceeding in advance of its
final disposition. 
 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 officers, employees and agents of the Corporation similar to those conferred in this Article X to the Board of Directors. 

The rights to indemnification and to the advancement of expenses in this Article X shall not be exclusive of any other right which any person
may have or hereafter acquire under this Certificate of Incorporation, as amended from time to time, the Bylaws, any statute, agreement, vote of stockholders or disinterested directors or otherwise. 

Any repeal or modification of this Article X by the stockholders of the Corporation shall not adversely affect any rights to indemnification
and to the advancement of expenses of a director or officer of the Corporation existing at the time of such repeal or modification with respect to any acts or omissions occurring prior to such repeal or modification. 

ARTICLE X 
 PLACE OF
STOCKHOLDER MEETINGS; BOOKS AND RECORDS 
 Meetings of stockholders may be held within or without the State of Delaware, as the Board of
Directors or the Bylaws may provide. The books of the Corporation may be kept (subject to any provision contained in the DGCL) outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or
in the Bylaws. 
 ARTICLE XI 

ACTION BY WRITTEN CONSENT; SPECIAL MEETINGS OF STOCKHOLDERS; ADVANCE NOTICE 

Section 1.    No Action by Written Consent. 

Any action required or permitted to be taken by stockholders of the Corporation must be effected at a meeting of the stockholders of the
Corporation and may not be effected by written consent in lieu of a meeting. 

  
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 Section 2.    Special Meetings. 

Except as otherwise expressly provided by the terms of any series of Preferred Stock and to the requirements of applicable law, special
meetings of stockholders of the Corporation may be called only by a majority of the Board of Directors, the Chairman of the Board of Directors or the Chief Executive Officer of the Corporation, and the ability of the stockholders to call a special
meeting is hereby specifically denied. Only such business shall be considered at a special meeting of stockholders as shall have been stated in the notice for such meeting. 

Section 3.    Advance Notice. 

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 shall be given in the manner provided in the Bylaws. 
 ARTICLE XII 

SEVERABILITY 
 If any
provision or provisions of this Certificate of Incorporation shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever, (i) the validity, legality and enforceability of such provisions in any
other circumstance and of the remaining provisions of this Certificate of Incorporation (including, without limitation, each portion of any paragraph of this 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 and (ii) to the fullest extent possible, the provisions of this Certificate of Incorporation (including, without
limitation, each such portion of any paragraph of this Certificate of Incorporation containing any such provision held to be invalid, illegal or unenforceable) shall be construed so as to permit the Corporation to protect its directors, officers,
employees and agents from personal liability in respect of their good faith service to or for the benefit of the Corporation to the fullest extent permitted by law. 

ARTICLE XIII 
 CHOICE OF
FORUM 
 Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery of the State of
Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim for breach of a fiduciary duty owed by any director, officer, employee or
agent of the Corporation to the Corporation or the Corporation’s stockholders, (iii) any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law, the Certificate of Incorporation or the Bylaws or
(iv) any action asserting a claim governed by the internal affairs doctrine, in each case subject to said Court of Chancery having personal jurisdiction over the indispensable parties named as defendants therein. 

ARTICLE XIV 
 AMENDMENT

 The Corporation reserves the right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation, in
the manner now or hereafter prescribed by 

  
 7 

 
statute, and all rights conferred upon stockholders herein are granted subject to this reservation. In addition, the affirmative vote of the holders of at least two-thirds of the voting power of
all outstanding shares of the Corporation entitled to vote generally in the election of directors shall be required to adopt any provision inconsistent with, to amend or repeal any provision of, or to adopt a bylaw inconsistent with Article V,
Article VII, Article XI, Article XIII or this Article XIV of this Certificate of Incorporation. 
 ARTICLE XV 

INCORPORATOR 
 The
incorporator of the Corporation is Janice Lee, whose mailing address is c/o Proskauer Rose LLP, 11 Times Square, New York, New York 10036. 

ARTICLE XVI 
 INITIAL
BOARD OF DIRECTORS 
 The powers of the incorporator are to terminate upon the filing of this Certificate of Incorporation with the
Secretary of State of the State of Delaware. The names of the persons who are to serve as the initial directors of the Corporation are: 
 Initial
Class I Directors 
 Mr. Robert Huffines 

Dr. Adam Koppel 
 Mr. Rajeev Shah 

Initial Class II Directors 
 Mr. Matthew Arnold

 Mr. Adam Stone 
 Ms. Lynne Sullivan 

Initial Class III Directors 
 Mr. Ilan Ganot

 Mr. Gilad Hayeem 
 Dr. Andrey Zarur 

The mailing address of each such director is: c/o Solid Biosciences Inc., 161 First Street, Third Floor, Cambridge, Massachusetts 02142. 

*  *  * 

  
 8 

 The undersigned incorporator hereby acknowledges that the foregoing certificate of incorporation
is her act and deed on this the 25th day of January, 2018. 
  

	
	
	/s/ Janice Lee
	Janice Lee
	Incorporator

  
 9

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