Not Applicable.
Item 6. Indemnification of Directors
and Officers.
The Registrant is a Delaware corporation. Articles 14 and 15 of the Registrants Amended and Restated Certificate of Incorporation
provide that
the officers and directors of the Registrant shall be indemnified and held harmless by the Registrant, and directors shall not be personally
liable,
in each case, to the fullest extent authorized by the General Corporation Law of the State of Delaware, as amended from time to time (the
DGCL). Section 145 of the DGCL provides that a Delaware corporation has the power to indemnify officers and directors in certain circumstances.
Subsection (a) of Section 145 of the DGCL empowers a corporation to indemnify any director or officer, or former director or officer, who was or
is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the corporation), against expenses (including attorneys fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with such
action, suit or proceeding; provided such director or officer acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful.
Subsection (b) of Section 145 of the DGCL empowers a corporation to indemnify any
director or officer, or former director or officer, who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason
of the fact that such person acted in any of the capacities set forth above against expenses (including attorneys fees) actually and reasonably incurred in connection with the defense or settlement of such action or suit; provided that such
director or officer acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation. However, no indemnification may be made in respect of any claim, issue or matter as to which such
director or officer has been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of
liability, but in view of all the circumstances of the case, such director or officer is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.
Subsection (c) of Section 145 provides that to the extent that a present or former director or officer of a corporation has been successful on the
merits or otherwise in the defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such director or officer shall be indemnified against expenses
(including attorneys fees) actually and reasonably incurred by such person in connection therewith. Subsection (e) of Section 145 requires an undertaking to repay any such amount advanced if the director or officer receiving such
amount is ultimately determined not to be entitled to indemnification.
Indemnification and advancement of expenses provided by, or granted pursuant to,
Section 145 of the DGCL is not to be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled. Section 145 of the DGCL permits a corporation to purchase and maintain insurance
on behalf of a current or former director or officer against any liability asserted against him and incurred by him in any such capacity, or arising out of his status as such, whether or not the corporation would have the power to indemnify him
against such liabilities under Section 145 of the DGCL.
Article 14 of the Registrants Amended and Restated Certificate of Incorporation
provides that, to the fullest extent permitted under the DGCL, as the same exists or may hereafter be amended, a director of the Registrant shall not be personally liable to the Registrant or its shareholders for monetary damages for breach of
fiduciary duty as a director, except that Article 14 shall not eliminate or limit a directors liability (i) for any breach of the directors duty of loyalty to the Registrant or its shareholders, (ii) for acts or omissions that
are not in good faith or that involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL or (iv) for any transaction from which the director derived an improper benefit. Article 14 further
provides that if the DGCL is hereafter amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Registrant shall be eliminated or limited to the fullest extent
permitted by the DGCL, as so amended from time to time. Article 14 further provides that any repeal or modification of Article 14 shall not increase the personal liability of any director of the Registrant for any act or occurrence taking place
prior to such repeal or modification or otherwise adversely affect any right or protection of a director of the Registrant existing at the time of the repeal or modification.
Article 15 of the Registrants Amended and Restated Certificate of Incorporation provides that the Registrant shall indemnify to the fullest extent
authorized or permitted by law any person made, or threatened to be made, a party to any action or proceeding (whether civil or criminal or otherwise) by reason of the fact that he, his testator or intestate, is or was a director or officer of the
Registrant or by reason of the fact that such director or officer, at the request of the Registrant, is or was serving any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, in any capacity.
The Registrant may, from time to time, maintain a policy, or policies, of directors and officers liability insurance which insures directors and
officers against the cost of defense, settlement or payment of claims and judgments under certain circumstances.
Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing provisions, the Registrant has been informed that in the opinion of the Commission such
indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.
The foregoing summaries are subject to the
complete text of the Registrants Amended and Restated Certificate of Incorporation, the Registrants Amended and Restated Bylaws and to the referenced sections of the DGCL and are qualified in their entirety by reference thereto.
4