美国优先股法律模板之CertificateofIncorporation20-豆柴文库

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Thissampledocumentistheworkproductofacoalitionofattorneyswhospecializeinventurecapitalfinancings,workingundertheauspicesoftheNVCA.Thisdocumentisintendedtoserveasastartingpointonly,andshouldbetailoredtomeetyourspecificrequirements.Thisdocumentshouldnotbeconstruedaslegaladviceforanyparticularfactsorcircumstances.Notethatthissamplepresentsanarrayof(oftenmutuallyexclusive)optionswithrespecttoparticulardealprovisions.
AMENDEDANDRESTATEDCERTIFICATEOFINCORPORATION

PreliminaryNotes
General.
TheCertificateofIncorporationisakeydocumentproducedinconnectionwithaventurecapitalportfolioinvestment.Amongotherthings,theCorporation’sCertificateofIncorporationestablishestherights,preferences,privilegesandrestrictionsofeachclassandseriesoftheCorporation’sstock.
NoImpairmentClause.
Itisnotuncommonforcounseltotheinvestorstoincludea“noimpairment”clauseintheirCertificateofIncorporationdrafts.A“noimpairment”clauseisabroadandgeneralprovisionthatprohibitstheCorporationfromacting(orfailingtoact)inawaythatwouldcircumventtheexpressandspecificprovisionsoftheCertificateofIncorporation.AlthoughDelawarecourtsnarrowlyconstrue“noimpairment”clauses	SeeKumarv.RacingCorp.ofAm.,Inc.,CaseNo.C.A.12039(Del.Ch.Ct.April26,1991).
,suchprovisionscanbedangerous,bothtotheCorporationandtothecontrollinginvestors,becausetheycangiverisetoclaimsofviolationbydisgruntledminorityinvestorslookingforsomegroundsonwhichtobaseaclaim,intheabsenceofanyspecificprotectiveprovisionsintheCertificateofIncorporation.Inaddition,inatransactioninwhichthetermsoftheoutstandingPreferredStockaretobeamended,specificallytheanti-dilutionandconversionrights,certainlawfirmshavetakenthepositionthattheexistenceofa“noimpairment”clauseintheCertificateofIncorporationrequirestheirfirmtoexpressnoopinionwithregardtothestockholderactiontakeninconnectionwiththesubjecttransaction,andinsteadassumeforpurposesoftheiropinionthattheCorporationhascompliedwiththeprovisionsofthe“noimpairment”clause.Ifappropriateattentionispaidtothespecific,substantiveprovisionsof