- 56 -
ARTICLE V
AUTHORIZED CAPITAL STOCK
Section 1. Authorized Shares.
The total number of shares of all classes of
capital stock which the corporation shall have the
authority to issue is Five Thousand (5,000) shares, of
which (1) One Thousand (1,000) shares, having a par
value of $.01 per share, shall be Common Stock (“Common
Stock”) and (ii) Four Thousand (4,000) shares, having a
par value of $.01 per share, shall be Voting Preferred
Stock (“Voting Preferred Stock”).
Section 2. Common Stock.
* * * * * * *
(b) Voting Rights.
(i) Voting Power. Except as otherwise
provided in Section (3)(i)(ii) of this Article V, the
holders of shares of Common Stock shall be entitled to
vote on all matters presented to the stockholders of
the corporation. Except as otherwise provided herein
or required by law, the holders of Common Stock shall
vote together with the holders of shares of Voting
Preferred Stock. Each share of Common Stock shall be
entitled to one (1) vote per share.
(ii) Voting Rights with Respect to Election
or Removal of Directors. The holders of shares of
Common Stock shall be entitled, voting as a separate
class, to elect one (1) director of the corporation
(the “Common Stock Director”). The Common Stock
Director shall be removed only by a vote of the holders
of a majority of the shares of Common Stock, voting as
a separate class.
Section 3. Voting Preferred Stock.
* * * * * * *
(b) Issuance and Stated Value. The shares of
Voting Preferred Stock shall be issued by the
corporation for their Stated Value (as defined below),
in such amounts, at such times and to such persons as
Page: Previous 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 NextLast modified: May 25, 2011