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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 14, 2007
HARRIS STRATEX NETWORKS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-33278
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20-5961564 |
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(State or other jurisdiction
of incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.) |
Address of principal executive offices: 637 Davis Drive, Morrisville, NC 27560
Registrants telephone number, including area code: (919) 767- 3250
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 40.13e-4(c)) |
TABLE OF CONTENTS
Item 1.01. Entry into a Material Definitive Agreement.
On August 14, 2007, the Board of Directors of Harris Stratex Networks, Inc. (the Company)
approved the terms of its 2008 Annual Incentive Plan (the Plan). The Plan will provide, among
other things, that if certain performance criteria are achieved or exceeded, including revenue and
operating income with measures weighted 60% and 40%, respectively, certain executives will be
entitled to receive cash awards, up to a maximum of $1,100,000 in the aggregate to all of such
executives for fiscal 2008.
Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On August 14, 2007, the Board of Directors of the Company approved an amendment to Article II,
Section 4 of the Companys bylaws to permit the Company to make available the list of stockholders
at least ten days prior to shareholder meetings either at the place where the meeting will be held
or electronically on a reasonably accessible network, and approved an amendment to Article VI,
Section 1 of the Companys bylaws to authorize direct registration of shares of common stock
without issuance of a share certificate as mandated by NASDAQ rules to become effective January 1,
2008.
The complete text of the amended and restated bylaws as of August 14, 2007 is included in Exhibit
3.2 to this report.
Item 7.01. Regulation FD Disclosure.
The 2007 Annual Meeting of Stockholders of the Company (the Annual Meeting) will be held on
November 14, 2007 at the Companys offices located at 120 Rose Orchard Way, San Jose, California
commencing at 2:30 p.m., local time. Stockholders of record as of September 21, 2007 shall be
entitled to vote at such Annual Meeting.
The information in this Item 7.01 is intended to be furnished pursuant to Regulation FD (17 CFR
243.100-243.103) and shall not be deemed to be filed for purposes of the Securities Exchange Act of
1934.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
The following exhibit is furnished herewith:
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3.2
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Amended and Restated Bylaws of Harris Stratex Networks, Inc. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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HARRIS STRATEX NETWORKS, INC.
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By: |
/s/
Juan Otero
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Name: |
Juan Otero |
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Title: |
General Counsel and Secretary |
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Date:
August 20, 2007
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EXHIBIT INDEX
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Exhibit No. |
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Under |
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Regulation S-K, |
Item 601 |
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Description |
3.2
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Amended and Restated Bylaws of Harris Stratex Networks, Inc. |
exv3w2
Exhibit 3.2
AMENDED AND RESTATED BYLAWS OF
HARRIS STRATEX NETWORKS, INC.
ARTICLE I
OFFICES
Section 1. The registered office shall be in the City of Wilmington, County of
New Castle, State of Delaware.
Section 2. The corporation may also have offices at such other places both within
and without the State of Delaware as the Board of Directors may from time to time determine or the
business of the corporation may require.
ARTICLE II
STOCKHOLDERS
Section 1. All meetings of the stockholders for the election of directors shall
be held at such place as may be fixed from time to time by the Board of Directors, or at such other
place either within or without the State of Delaware as shall be designated from time to time by
the Board of Directors and stated in the notice of the meeting. Meetings of stockholders for any
other purpose may be held at such time and place, within or without the State of Delaware, as shall
be stated in the notice of the meeting or in a duly executed waiver of notice thereof.
Section 2. Annual meetings of stockholders shall be held on the third Monday in
October, if not a legal holiday and, if a legal holiday, then on the next succeeding business day
following, at the same hour and place, or at such other date and time as shall be designated from
time to time by the Board of Directors and stated in the notice of the meeting, at which they shall
elect by a plurality vote a Board of Directors, and transact such other business as may properly be
brought before the meeting.
Section 3. Written notice of the annual meeting stating the place, date and hour
of the meeting shall be given to each stockholder entitled to vote at such meeting not less than
ten (10) nor more than sixty (60) days before the date of the meeting.
Section 4. The officer who has charge of the stock ledger of the corporation
shall prepare and make, at least ten (10) days before every
meeting of stockholders, (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, or
(ii) during ordinary business hours, at the principal place of
business of the corporation a complete
list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and
showing the address of each stockholder and the number of shares registered in the name of each
stockholder provided however that the corporation shall not be
required to include electronic mail addresses or other electronic
contact information on such list. Such list shall be open to the examination of any stockholder, for any purpose germane
to the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the
meeting, either at a place within the city where the meeting is to be held, which place shall be
specified in the notice of the meeting, or, if not so specified, at the place where the meeting is
to be held. The list shall also 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.
Section 5. Special meetings of stockholders shall be called by the president or
secretary at the request in writing of a majority of the Board of Directors or upon written
application of one or more stockholders who hold at least twenty percent (20%) of the total voting
power of all the capital stock entitled to vote at such meeting. Such request of the Board of
Directors or written application of the stockholders shall state the purpose or purposes of the
proposed special meeting. The place, date and time
of any special meeting shall be determined by the Board of Directors. Such determination shall
include the record date for determining the stockholders having the right to notice of and to vote
at such meeting.
Section 6. Written notice of a special meeting stating the place, date and hour
of the meeting and the purpose or purposes for which the meeting is called, shall be given not less
than ten (10) nor more than sixty (60) days before the date of the meeting, to each stockholder
entitled to vote at such meeting.
Section 7. Only such business shall be conducted at a special meeting as shall
have been stated in the written notice of the meeting as the purpose or purposes for the meeting.
Section 8. The holders of capital stock entitled to cast a majority of the voting
power of all the capital stock issued and outstanding and entitled to vote thereat, present in
person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for
the transaction of business except as otherwise provided by statute or by the certificate of
incorporation. If, however, such quorum shall not be present or represented at any meeting of the
stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy,
shall have power to adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum shall be present or represented. At such adjourned meeting at which
a quorum shall be present or represented any business may be transacted which might have been
transacted at the meeting as originally notified. 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 record entitled to vote at the meeting.
Section 9. In all matters other than the election of directors, the affirmative
vote by the holders of capital stock entitled to cast a majority of the voting power of all the
capital stock present in person or represented by proxy at any meeting and entitled to vote on the
subject matter shall be the act of the stockholders, unless the question is one upon which, by
express provision of any statute or of the certificate of incorporation, a different vote is
required, in which case such express provision shall govern and control the decision of such
question.
Section 10. Unless otherwise provided in the certificate of incorporation, each
stockholder shall at every meeting of the stockholders be entitled to one vote in person or by
proxy for each share of the capital stock having voting power held by such stockholder, but no
proxy shall be voted on after three years from its date, unless the proxy provides for a longer
period.
Section 11. Unless otherwise provided in the certificate of incorporation, and
subject to the provisions of Article II, Section 12 of these amended and restated bylaws (these
Bylaws), any action required to be taken at any annual or special meeting of stockholders of the
corporation, or any action which may be taken at any annual or special meeting of such
stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent
in writing setting forth the action so taken, shall be signed by the holders of outstanding stock
having not less than the minimum number of votes that would be necessary to authorize or take such
action at a meeting at which all shares entitled to vote thereon were present and voted. Prompt
notice of the taking of the corporate action without a meeting by less than unanimous written
consent shall be given to those stockholders who have not consented in writing.
Section 12. In order that the corporation may determine the stockholders entitled
to consent to corporate action in writing without a meeting pursuant to Article II, Section 11 of
these Bylaws, the Board of Directors may fix a record date, which record date shall not precede the
date upon which the resolution fixing the record date is adopted by the Board of Directors, and
which record date shall not be more than ten (10) days after the date upon which the resolution
fixing the record date is adopted by the
Board of Directors. Any stockholder of record seeking to have the stockholders authorize or take
corporate action by written consent shall, by written notice to the secretary, request the Board of
Directors to fix a record date. The Board of Directors shall promptly, but in all events within ten
(10) days after the date on which such a request is received, adopt a resolution fixing the record
date. If no record date has been fixed by the Board of Directors within such ten (10) day period,
the record date for determining stockholders entitled to consent to corporate action in writing
without a meeting, when no prior action by the Board of Directors is required by applicable law,
shall be the first date on which a signed written consent setting forth the action taken or
proposed to be taken is delivered to the corporation by delivery to its registered office in the
State of Delaware, its principal place of business, or an officer or agent of the corporation
having custody of the book in which proceedings of stockholders meetings are recorded, to the
attention of the secretary of the corporation. Delivery shall be by hand or by certified or
registered mail, return receipt requested. If no record date has been fixed by the Board of
Directors and prior action by the Board of Directors is required by applicable law, the record date
for determining stockholders entitled to consent to corporate action in writing without a meeting
shall be at the close of business on the date on which the Board of Directors adopts the resolution
taking such prior action.
Section 13. At any annual meeting of the stockholders, only such business shall
be conducted as shall be properly before the meeting. To be properly before an annual meeting,
business must be (a) specified in the notice of meeting (or any supplement thereto) given by or at
the direction of the Board of Directors, (b) otherwise properly brought before the meeting by or at
the direction of the Board of Directors, or (c) otherwise properly brought before the meeting by a
stockholder. For business to be properly brought before an annual meeting by a stockholder, the
stockholder must have given timely notice thereof in writing to the secretary. To be timely, a
stockholders notice must be delivered to or mailed and received at the principal place of business
of the corporation not less than sixty (60) days nor more than ninety (90) days prior to the
meeting; provided, however, that in the event that less than seventy (70) days notice or prior
public disclosure of the date of the meeting is given or made to stockholders, notice by the
stockholder to be timely must be received not later than the close of business on the tenth day
following the day on which such notice of the date of the meeting was mailed or such public
disclosure was made.1 A stockholders written notice to the secretary shall set
forth as to each matter the stockholder proposes to bring before the annual meeting (a) a
description of the business desired to be brought before the annual meeting and the reasons for
conducting such business at the annual meeting, (b) the name and address as they appear on the
corporations books of the stockholder proposing such business, (c) the class and number of shares
of the corporation which are beneficially owned by such stockholder, and (d) any material interest
of such stockholder in such business. Notwithstanding anything in these Bylaws to the contrary, no
business shall be conducted at any annual meeting unless properly brought before such meeting in
accordance with the procedures set forth in this Section 13. The chairman of the meeting shall, if
the facts warrant, determine and declare to the meeting that business was not properly brought
before the meeting in accordance with the provisions of this Section 13 and if it shall be so
determined, the chairman of the meeting shall so declare this to the meeting and such business not
properly brought before the meeting shall not be transacted.
Section 14. Only persons who are nominated in accordance with the procedures set
forth in this Section 14 shall be eligible for election by the stockholders as Class A Directors
(as defined in the certificate of incorporation). Nominations of persons for election as Class A
Directors may be made at a meeting of stockholders by or at the direction of the Class A Directors
(as defined in the certificate of incorporation) or by any stockholder of the corporation (other
than a stockholder who holds Class B Common Stock of the corporation) entitled to vote for the
election of directors at the meeting who
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It shall be necessary for the
corporation to determine the date of each annual meeting at least 70 days in
advance thereof and make a public disclosure of such date and of the provisions
of Article II, Section 13 of these Bylaws. |
complies with the notice procedures set forth in this Section 14. Such nominations, other than
those made by or at the direction of the Class A Directors, shall be made pursuant to timely notice
in writing to the secretary. To be timely, a stockholders notice shall be delivered to or mailed
and received at the principal place of business of the corporation not less than sixty (60) nor
more than ninety (90) days prior to the meeting; provided, however, that in the event that less
than seventy (70) days notice or prior public disclosure of the date of the meeting is given or
made to stockholders, notice by the stockholder to be timely must be so received not less than the
close of business on the tenth day following the day on which such notice of the date of the
meeting was mailed or such public disclosure was made. Such stockholders notice shall set forth
(a) as to each person whom the stockholder proposes to nominate for election or re-election as a
director (i) the name, age, business address and residence address of such person, (ii) the
principal occupation or employment of such person, (iii) the class and number of shares of the
corporation which are beneficially owned by such person and (iv) any other information relating to
such person that is required to be disclosed in solicitations of proxies for election of directors
or is otherwise required in each case pursuant to Regulation 14A under the Securities and Exchange
Act of 1934, as amended (including without limitation such persons written consent to being named
in the proxy statement as a nominee and to serving as a director if elected); and (b) as to the
stockholder giving the notice (i) the name and address, as they appear on the corporations books
of such stockholder, (ii) the class and number of shares of the corporation which are beneficially
owned by such stockholder, and (iii) any material relationship of the stockholder to the person the
stockholder proposes to nominate. At the request of the Board of Directors any person nominated by
the Board of Directors for election as a director shall furnish to the secretary that information
required to be set forth in a stockholders notice of nomination which pertains to the nominee. No
person shall be eligible for election as a Class A Director unless nominated in accordance with the
procedures set forth in this Section 14. The chairman of the meeting shall, if the facts warrant,
determine and declare to the meeting that a nomination was not made in accordance with the
provisions of this Section 14 and if it shall be so determined, the chairman shall so declare this
to the meeting and the defective nomination shall be disregarded.
ARTICLE III
DIRECTORS
Section 1. Subject to any requirements in the certificate of incorporation, the
number of directors that shall constitute the whole Board of Directors shall be fixed by resolution
of the Board of Directors but in no event shall be less than six (6). The directors shall be
elected at the annual meeting of the stockholders, except as provided in Section 2 of this Article,
and each director elected shall hold office until his or her successor is elected and qualified.
Directors need not be stockholders, but shall not be older than 75 years of age on the date of
their election or appointment to be eligible to serve as a director unless otherwise specifically
approved by resolution passed by the directors then in office or by the sole remaining director.
Section 2. Except as otherwise provided in the certificate of incorporation,
vacancies and newly created directorships resulting from any increase in the authorized number of
directors elected by all of the stockholders having a right to vote as a single class may be filled
by a majority of the directors then in office, though less than a quorum, or by a sole remaining
director, and the directors so chosen shall hold office until the next annual election and until
their successors are duly elected and qualified, unless sooner removed. If there are no directors
in office, then an election of directors may be held in the manner provided by statute. If, at the
time of filling any vacancy or any newly created directorship, the directors then in office shall
constitute less than a majority of the whole Board of Directors (as constituted immediately prior
to any such increase), the Court of Chancery may, upon application of any stockholder or
stockholders holding at least ten percent (10%) of the total voting power of all the outstanding
capital stock entitled to vote generally in the election of such directors, summarily order an
election to be held to
fill any such vacancies or newly created directorships, or to replace the directors chosen by the
directors then in office.
Section 3. The business of the corporation shall be managed by or under the
direction of its Board of Directors which may exercise all such powers of the corporation and do
all such lawful acts and things as are not by statute or by the certificate of incorporation or by
these Bylaws directed or required to be exercised or done by the stockholders.
Section 4. The Board of Directors of the corporation may hold meetings, both
regular and special, either within or without the State of Delaware.
Section 5. The first meeting of each newly elected Board of Directors shall be
held at such time and place as shall be fixed by the vote of the stockholders at the annual meeting
and no notice of such meeting shall be necessary to the newly elected directors in order legally to
constitute the meeting, provided a quorum shall be present. In the event of the failure of the
stockholders to fix the time or place of such first meeting of the newly elected Board of
Directors, or in the event such meeting is not held at the time and place so fixed by the
stockholders, the meeting may be held at such time and place as shall be specified in a notice
given as hereinafter provided for special meetings of the Board of Directors, or as shall be
specified in a written waiver signed by all of the directors.
Section 6. Regular meetings of the Board of Directors may be held without notice
at such time and at such place as shall from time to time be determined by the Board of Directors.
Section 7. Special meetings of the Board of Directors may be called by the
Chairman of the Board of Directors, the president, any vice-president, the secretary or any two (2)
directors on four (4) days notice to each director by mail or two (2) days notice to each
director either personally or by telephone or electronic communication (e.g., electronic mail or
similar means of communication).
Section 8. Subject to any requirements in the certificate of incorporation, at
all meetings of the Board of Directors, one-third (1/3) of the authorized number of
directors, or two (2), whichever is greater, shall constitute a quorum for the transaction of
business and the act of a majority of the directors present at any meeting at which there is a
quorum shall be the act of the Board of Directors, except as may be otherwise specifically provided
by statute, by the certificate of incorporation or by Article III, Section 9 of these Bylaws. If a
quorum shall not be present at any meeting of the Board of Directors, the directors present thereat
may adjourn the meeting from time to time without notice other than announcement at the meeting,
until a quorum shall be present.
Section 9. Unless otherwise restricted by the certificate of incorporation or
these Bylaws, any action required or permitted to be taken (i) at any meeting of the Board of
Directors or of any committee thereof or (ii) by the Class B Directors (as defined in the
certificate of incorporation) may be taken without a meeting if all members of the Board of
Directors or committee thereof or all Class B Directors, as the case may be, consent thereto in
writing, and the writing or writings are filed with the minutes of proceedings of the Board of
Directors or committee thereof.
Section 10. Unless otherwise restricted by the certificate of incorporation or
these Bylaws, members of the Board of Directors or any committee designated by the Board of
Directors, may participate in a meeting of the Board of Directors, or any committee thereof, by
means of conference telephone or similar communications equipment by means of which all persons
participating in the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at the meeting.
Section 11. The Board of Directors may, by resolution passed by a majority of the
whole Board of Directors, designate one or more committees, each committee to consist of one or
more of the directors of the corporation. The Board of Directors may designate one or more
directors as alternate members of any committee who may 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 thereof
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.
Any such committee, to the extent provided in the resolution of the Board of Directors, 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, but no such committee shall have the power or authority
in reference to amending the certificate of incorporation, adopting an agreement of merger or
consolidation, recommending to the stockholders the sale, lease or exchange of all or substantially
all of the corporations property and assets, recommending to the stockholders a dissolution of the
corporation or a revocation of a dissolution, or amending the Bylaws of the corporation, and,
unless the resolution or the certificate of incorporation expressly so provide, no such committee
shall have the power or authority to declare a dividend or to authorize the issuance of stock. Such
committee or committees shall have such name or names as may be determined from time to time by
resolution adopted by the Board of Directors.
Section 12. Each committee shall keep regular minutes of its meetings and report
the same to the Board of Directors when required.
Section 13. Unless otherwise restricted by the certificate of incorporation or
these Bylaws, the Board of Directors shall have the authority to fix the compensation of directors.
The directors may be paid their expenses, if any, of attendance at each meeting of the Board of
Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors or a
stated salary as director. No such payment shall preclude any director from serving the corporation
in any other capacity and receiving compensation therefor. Members of special or standing
committees may be allowed like compensation for attending committee meetings.
Section 14. Unless otherwise provided in the certificate of incorporation or
these Bylaws, any director or the entire Board of Directors may be removed, with or without cause,
by the holders of a majority of shares entitled to vote at an election of directors.
Section 15. The Board of Directors shall appoint two (2) observers of the Board
of Directors, each of whom shall be an officer or employee of the corporation. Such observers shall
have the right to (i) receive notice of all meetings of the Board of Directors (other than any
meeting or portion thereof where employees of the corporation are intentionally excluded), (ii)
attend (in the same manner as the members of the Board of Directors whether in person or otherwise)
all meetings of the Board of Directors (other than any meeting or portion thereof where employees
of the corporation are intentionally excluded) as an observer with no right to vote on any matter
at such meeting and (iii) receive copies of all materials provided by the corporation at, or in
anticipation of, a meeting of the Board of Directors (but only to the extent such observer is
permitted to attend such meeting, or portion of such meeting, under this Section 15) at the same
time and in the same manner that the members of the Board of Directors receive such items. The
Board of Directors may remove any such observer, with or without cause at any time, and, following
such removal, may appoint (but in no case is required to so appoint), subject to this Section 15,
another individual to replace such observer.
ARTICLE IV
NOTICES
Section 1. Whenever, under the provisions of statutes or of the certificate of
incorporation or of these Bylaws, notice is required to be given to any director or stockholder, it
shall not be construed to mean personal notice, but such notice may be given in writing, by mail,
addressed to such director or stockholder, at his address as it appears on the records of the
corporation, with postage thereon prepaid, and such notice shall be deemed to be given at the time
when the same shall be deposited in the United States mail. Notice to directors may also be given
by telephone or electronic communication (e.g., electronic mail or similar means of communication).
Section 2. Whenever any notice is required to be given under the provisions of
the statutes or of the certificate of incorporation or of these Bylaws, a waiver thereof in
writing, signed by the person or persons entitled to said notice, whether before or after the time
stated therein, shall be deemed equivalent thereto.
ARTICLE V
OFFICERS
Section 1. The officers of the corporation shall be chosen by the Board of
Directors and shall be a Chairman of the Board, a president, one or more vice-presidents, a
secretary and a chief financial officer. The Board of Directors may elect from among its members a
Vice Chairman of the Board and may also choose one or more assistant secretaries and assistant
treasurers. Any number of offices may be held by the same person, unless the certificate of
incorporation or these Bylaws otherwise provide.
Section 2. The Board of Directors at its first meeting after each annual meeting
of stockholders shall choose the officers of the corporation.
Section 3. The Board of Directors may appoint such other officers and agents as
it shall deem necessary who shall hold their offices for such terms and shall exercise such powers
and perform such duties as shall be determined from time to time by the Board of Directors.
Section 4. The salaries of all officers and agents of the corporation shall be
fixed by the Board of Directors.
Section 5. The officers of the corporation shall hold office until their
successors are duly elected and qualified. Any officer elected or appointed by the Board of
Directors may be removed at any time by the affirmative vote of a majority of the Board of
Directors. Any vacancy occurring in any office of the corporation shall be filled by the Board of
Directors.
Section 6. The Chairman of the Board shall preside at all meetings of the Board
of Directors and of the stockholders at which he shall be present and shall have and may exercise
such powers as are, from time to time, assigned by the Board of Directors and as may be provided by
law.
Section 7. In the absence of the Chairman of the Board, the Vice Chairman, if
any, shall preside at all meetings of the Board of Directors and of the stockholders at which he
shall be present. The Vice Chairman shall have and may exercise such powers as are, from time to
time, assigned by the Board of Directors and as may be provided by law.
Section 8. The president shall be the general manager and chief executive officer
of the corporation, and in the absence of the Chairman of the Board and Vice Chairman, shall
preside at all meetings of the stockholders and the Board of Directors. The president shall have
general and active management of the business of the corporation and shall see that all orders and
resolutions of the Board of Directors are carried into effect.
Section 9. The president shall execute bonds, mortgages and other contracts
requiring a seal, under the seal of the corporation, except where required or permitted by law to
be otherwise signed and executed and except where the signing and execution thereof shall be
expressly delegated by the Board of Directors to some other officer or agent of the corporation.
Section 10. In the absence of the president or in the event of his inability or
refusal to act, the vice president, if any, (or in the event there be more than one vice president,
the vice presidents in the order designated by the directors, or in the absence of any designation,
then in the order of their election) shall perform the duties of the president, and when so acting,
shall have all the powers of and be subject to all the restrictions upon the president. The vice
presidents shall perform such other duties and have such other powers as the Board of Directors may
from time to time prescribe.
Section 11. The secretary shall attend all meetings of the Board of Directors and
all meetings of the stockholders and record all the proceedings of the meetings of the corporation
and of the Board of Directors in a book to be kept for that purpose and shall perform like duties
for the standing committees when required. The secretary shall give or cause to be given, notice of
all meetings of the stockholders and special meetings of the Board of Directors and shall perform
such other duties as may be prescribed by the Board of Directors or president, under whose
supervision he shall be. The secretary shall have custody of the corporate seal of the corporation,
and the secretary or an assistant secretary shall have authority to affix the same to any
instrument requiring it and when so affixed, it may be attested by his signature or by the
signature of such assistant secretary. The Board of Directors may give general authority to any
other officer to affix the seal of the corporation and to attest the affixing by his signature.
Section 12. The assistant secretary, or if there be more than one, the assistant
secretaries in the order determined by the Board of Directors (or if there be no such
determination, then in the order of their election) shall, in the absence of the secretary or in
the event of his or her inability or refusal to act, perform the duties and exercise the powers of
the secretary and shall perform such other duties and have such other powers as the Board of
Directors may from time to time prescribe.
Section 13. The chief financial officer may also be designated by the alternate
title of treasurer. The chief financial officer shall have the custody of the corporate funds and
securities and shall keep full and accurate accounts of receipts and disbursements in books
belonging to the corporation and shall deposit all moneys and other valuable effects in the name
and to the credit of the corporation in such depositories as may be designated by the Board of
Directors.
Section 14. The chief financial officer shall disburse the funds of the
corporation as may be ordered by the Board of Directors, taking proper vouchers for such
disbursements, and shall render to the president and the Board of Directors, at its regular
meetings, or when the Board of Directors so requires, an account of all his transactions as
treasurer and of the financial condition of the corporation.
Section 15. If required by the Board of Directors, the chief financial officer
shall give the corporation a bond (which shall be renewed every six years) in such sum and with
such surety or sureties as shall be satisfactory to the Board of Directors for the faithful
performance of the duties of his office and for the restoration to the corporation, in case of his
death, resignation, retirement or removal from
office, of all books, papers, vouchers, money and other property of whatever kind in his possession
or under his control belonging to the corporation.
Section 16. The assistant treasurer, or if there shall be more than one, the
assistant treasurers in the order determined by the Board of Directors (or if there be no such
determination, then in the order of their election) shall, in the absence of the chief financial
officer or in the event of his inability or refusal to act, perform the duties and exercise the
powers of the chief financial officer and shall perform such other duties and have such other
powers as the Board of Directors may from time to time prescribe.
ARTICLE VI
STOCK
Section 1.
The shares of the corporation shall be represented by certificates,
provided however that some or all of any or all classes or series of
its stock may be uncertificated shares. However, every holder of stock in the corporation shall be entitled to have a
certificate, signed by, or in the name of the corporation by, the Chairman or Vice Chairman of the
Board of Directors, or the president or a vice president and the treasurer or an assistant
treasurer, or the secretary or an assistant secretary of the corporation, certifying the number of
shares owned by the stockholder in the corporation.
Certificates may be issued for partly paid shares and in such case upon the face or back of
the certificates issued to represent any such partly paid shares, the total amount of the
consideration to be paid therefor, and the amount paid thereon shall be specified.
If the corporation shall be authorized to issue more than one class of stock or more than one
series of any class, the powers, designations, preferences and relative, participating, optional or
other special rights of each class of stock or series thereof and the qualification, 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 which the corporation shall issue to represent such class or series of
stock, provided that, except as otherwise provided in Section 202 of the General Corporation Law of
Delaware, in lieu of the foregoing requirements, there may be set forth on the face or back of the
certificate which 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.
Section 2. Any or all of the signatures on the certificate may be 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 he were
such officer, transfer agent or registrar at the date of issue.
Section 3. The Board of Directors may direct a new certificate or certificates to
be issued in place of any certificate or certificates theretofore issued by the corporation alleged
to have been lost, stolen or destroyed, upon the making of an affidavit of that fact by the person
claiming the certificate of stock to be lost, stolen or destroyed. When authorizing such issue of a
new certificate or certificates, 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 his legal representative, to advertise the same in such manner as it shall
require and/or to give the corporation a bond in such sum as it may direct as indemnity against any
claim that may be made against the corporation with respect to the certificate alleged to have been
lost, stolen or destroyed.
Section 4. Upon surrender to the corporation or the transfer agent of the
corporation of a certificate for shares duly endorsed or accompanied by proper evidence of
succession, assignation or authority to transfer, it shall be the duty of the corporation to issue
a new certificate to the person entitled thereto, cancel the old certificate and record the
transaction upon its books.
Section 5. In order that the corporation may determine the stockholders entitled
to notice of or to vote at any meeting of stockholders or any adjournment thereof, or 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 shall not
be more than sixty (60) nor less than ten (10) days before the date of such meeting, nor more than
sixty (60) days prior to any other action. A determination of stockholders of record 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.
Section 6. The corporation shall be entitled to recognize the exclusive right of
a person registered on its books as the owner of shares to receive dividends, and to vote as such
owner, and to hold liable for calls and assessments a person 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, whether or not it shall have express or other
notice thereof, except as otherwise provided by the laws of Delaware.
ARTICLE VII
GENERAL PROVISIONS
Section 1. Dividends upon the capital stock of the corporation, subject to the
provisions of the certificate of incorporation, if any, may be declared by the Board of Directors
at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in property, or
in shares of the capital stock, subject to the provisions of the certificate of incorporation.
Section 2. 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, think proper as a reserve or reserves to meet
contingencies, or for equalizing dividends, or for repairing or maintaining any property of the
corporation, or for such other purpose as the Board of Directors shall think conducive to the
interest of the corporation, and the directors may modify or abolish any such reserve in the manner
in which it was created.
Section 3. All checks or demands for money and notes of the corporation shall be
signed by such officer or officers or such other person or persons as the Board of Directors may
from time to time designate.
Section 4. The fiscal year of the corporation shall be fixed by resolution of the
Board of Directors.
Section 5. The Board of Directors may adopt a corporate seal having inscribed
thereon the name of the corporation, the year of its organization 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 6. Each person who was or is made a party to or witness or other
participant in or is threatened to be made a party to or witness or other participant in or is
otherwise involved in any action,
suit or proceeding, whether civil, criminal, administrative, investigative or other (hereinafter a
proceeding), by reason of the fact that he or she, or a person for whom he or she is the legal
representative, is or was a director or officer of the corporation or is or was serving at the
request of the corporation as a director, officer, employee or agent of another corporation or of a
partnership, joint venture, trust or other enterprise (hereinafter a designee), whether the basis
of the proceeding is alleged action in an official capacity as a director, officer or designee or
in any other capacity while serving as a director, officer or designee, shall be indemnified and
held harmless by the corporation to the fullest extent permitted by the General Corporation Law of
Delaware, as the same exists or may hereafter be amended, against all expenses (including
attorneys fees), judgments, fines, penalties, amounts paid in settlement, liability and loss
(including, without limitation, all interest, assessments and other charges paid or payable in
connection with or in respect of any of the foregoing) (hereinafter collectively expenses, which
expenses shall also include without limitation any expenses of establishing a right to
indemnification or advancement under this Section 6 or Article VII, Section 7 or 8) reasonably
incurred or suffered by such director, officer or designee in connection therewith; provided,
however, that, except as provided in Article VII, Section 8, the corporation shall indemnify any
such director, officer or designee seeking indemnification in connection with a proceeding (or part
thereof) initiated by such director, officer or designee only if such proceeding (or part thereof)
was authorized by the Board of Directors of the corporation. The corporation may, by action of the
Board of Directors, provide indemnification to employees and agents of the corporation with the
same scope and effect as the foregoing indemnification of directors, officers and designees.
Section 7. Expenses incurred by or on behalf of any person in defending any
proceeding by reason of the fact that such person is or was a director, officer or designee of the
corporation shall be advanced by the corporation prior to the final disposition of such proceeding;
provided, however, that if the General Corporation Law of Delaware requires, the payment of such
expenses incurred by a director, officer or designee in his or her capacity as a director, officer
or designee (and not in any other capacity in which service was or is rendered by such person while
a director, officer or designee, including, without limitation, service to an employee benefit
plan) in advance of the final disposition of a proceeding shall be made only upon delivery to the
corporation of an undertaking by or on behalf of such director, officer or designee to repay all
amounts so advanced if it shall ultimately be determined that such director, officer or designee is
not entitled to be indemnified under Article VII, Section 6 or this Section 7 or otherwise.
Section 8. If a claim under either Article VII, Section 6 or 7 is not paid in
full by the corporation within 30 days after a written claim has been received by the corporation,
the claimant may at any time thereafter bring suit against the corporation to recover the unpaid
amount of the claim and, if successful in whole or in part, the claimant shall be entitled to be
paid also the expense of prosecuting such claim. It shall be a defense to any such action (other
than an action brought to enforce a claim for expenses incurred in defending any proceeding in
advance of its final disposition where the required undertaking, if any is required, has been
tendered to the corporation) that the claimant has not met the standards of conduct which make it
permissible under the General Corporation Law of Delaware for the corporation to indemnify the
claimant for the amount claimed, but the burden of proving such defense shall be on the
corporation. Neither the failure of the corporation (including the Board of Directors, independent
legal counsel or the stockholders) to have made a determination prior to the commencement of such
action that indemnification of the claimant is proper in the circumstances because he or she has
met the applicable standard of conduct set forth in the General Corporation Law of Delaware, nor an
actual determination by the corporation (including the Board of Directors, independent legal
counsel or the stockholders) that the claimant has not met such applicable standard of conduct,
shall be a defense to the action or create a presumption that the claimant has not met the
applicable standard of conduct.
Section 9. Article VII, Sections 6 and 7 shall be deemed to be a contract between
the corporation and each director who serves in such capacity at any time while this Bylaw is in
effect, and
any repeal or modification thereof shall not affect any rights or obligations then existing with
respect to any state of facts then or theretofore existing or any action, suit or proceeding
theretofore or thereafter brought based in whole or in part upon any such state of facts.
Section 10. The foregoing rights of indemnification shall not be deemed exclusive
of any other rights to which those seeking indemnification may be entitled under any bylaw,
agreement, vote of stockholders or disinterested directors or otherwise, both as to action in an
official capacity and as to action in another capacity while holding such office, to the extent
such additional rights to indemnification are authorized in the certificate of incorporation.
Persons seeking indemnification or advancement may seek either or both at his or her discretion and
the pursuit of one shall neither be deemed a waiver of such persons rights to pursue the other,
nor shall it have any effect on the outcome of such persons pursuit of the other. Nothing
contained in Article VII, Section 6, 7, 8 or 9 or this Section 10 shall affect any right to
indemnification to which persons other than directors, officers or designees may be entitled by
contract or otherwise. Nothing in this section shall restrict the power of the corporation to
indemnify its directors, officers, designees, employees or agents under any provision of the
General Corporation Law of Delaware, as amended from time to time, or under any other provision of
law from time to time applicable to the corporation, nor shall anything in Article VII, Section 6,
7, 8 or 9 or this Section 10 authorize the corporation to indemnify its directors, officers,
designees, employees or agents in situations prohibited by the General Corporation Law of Delaware
or other applicable law.
ARTICLE VIII
AMENDMENTS
Section 1. These Bylaws may be altered, amended or repealed or new Bylaws may be
adopted by the stockholders or by the Board of Directors, when such power is conferred upon the
Board of Directors by the certificate of incorporation, at any regular meeting of the stockholders
or of the Board of Directors or at any special meeting of the stockholders or of the Board of
Directors if notice of such alteration, amendment, repeal or adoption of new Bylaws be contained in
the notice of such special meeting. If the power to adopt, amend or repeal Bylaws is conferred upon
the Board of Directors by the certificate of incorporation, it shall not divest or limit the power
of the stockholders to adopt, amend or repeal Bylaws.
Section 2. Notwithstanding any other provision in these Bylaws, Sections 5, 12,
13, and 14 of Article II of these Bylaws and this Section 2 shall not be amended, modified or
repealed, directly or indirectly except by (i) the affirmative vote of two-thirds (2/3) or more of
the Continuing Directors (as defined below) and the approval of the stockholders otherwise required
by applicable law or these Bylaws for such amendment; or (ii) the affirmative vote of the holders
of capital stock entitled to cast a majority of all the votes entitled to be cast by the holders of
all the capital stock entitled to vote generally in the election of Class A Directors.
Continuing Director shall mean any person then serving as a director of this corporation
(i) who was a member of the Board of Directors of this corporation on January 26, 2007, or (ii) who
becomes a director after January 26, 2007 and whose election, or nomination for election by this
corporations stockholders, was approved by a majority of the directors (or, in the case of a Class
B Director, the Class B Directors) who at that time are Continuing Directors, either by a specific
vote or by approval of the proxy statement issued by this corporation on behalf of the Board of
Directors in which such person is named as nominee for director.