10-173 10-173 . . . Amendment of Articles of Incorporation to provide that corporation be governed by Section 203 of Delaware General Corporation Law, (b) increase number of stockholders required to call special stockholder's meeting from 15% of outstanding shares to a majority, (c) require that stockholders may take action only at a meeting of stockholders, (d) provide that Board of Directors shall have power to fill interim vacancies on Board, (e) provide that stock issuances resulting in a person holding more than 5% of voting power of corporation may be made without stockholder approval, but only if (i) issuance or sale is to a person not affiliated with corporation and (ii) issuance or sale is approved by majority of Non-employee Directors, (f) give Board authority to enter into severance arrangements that are contingent upon a change of control, merger or acquisition of corporation only if (i) such arrangement is approved by majority of Non-employee Directors and (ii) payments to any individual pursuant to such arrangement are limited to maximum amount which does not result in "excess parachute payments" under Section 280G of Internal Revenue Code of 1986, and (g) change stockholder approval requirement for certain amendments of Articles of Incorporation from 75% of outstanding shares to majority of outstanding shares
Chicago, Illinois Amendments to Certificate of Incorporation In Chicago, Illinois, the Amendments to Certificate of Incorporation refer to the changes made to the original document filed with the Secretary of State when forming a corporation. These amendments are crucial for modifying and updating the corporation's structure, purpose, and operations. By incorporating relevant keywords, we can dive deeper into understanding the various types of Amendments to the Certificate of Incorporation in Chicago, Illinois. 1. Name Change Amendment: A name change amendment alters the corporation's legal name and is usually triggered by rebranding strategies, mergers, or other business-related reasons. Corporations in Chicago, Illinois, can file a Name Change Amendment to update their legal identity while complying with regulatory requirements. 2. Share Structure Amendment: Corporations in Chicago, Illinois, may need to adjust their share structure to better reflect their ownership and capital distribution. A Share Structure Amendment modifies the number, type, or rights associated with shares, such as voting power, dividend preferences, or conversion terms. 3. Purpose Amendment: Sometimes, a corporation's original purpose may no longer align with its current business objectives in Chicago, Illinois. Thus, a Purpose Amendment allows corporations to expand, restrict, or redefine their stated goals and activities as outlined in the Certificate of Incorporation. 4. Registered Agent Amendment: The Registered Agent Amendment involves changing the designated individual or entity responsible for receiving legal and official documents on behalf of the corporation. Corporations in Chicago, Illinois, may need to update their Registered Agent due to personnel changes, relocation, or other business requirements. 5. Principal Office Amendment: When a corporation's principal office address changes within Chicago, Illinois, or to a different state, a Principal Office Amendment is necessary. This amendment ensures that the public record accurately reflects the corporation's physical location for official correspondence and service of process purposes. 6. Director or Officer Amendment: A Director or Officer Amendment allows corporations to revise the names, titles, or positions of directors or officers listed in their Certificate of Incorporation. Changes occur when there are resignations, appointments, promotions, or if the corporation aims to restructure its leadership team. These are some key types of Amendments to the Certificate of Incorporation relevant to Chicago, Illinois. It's important for corporations in this area to be aware of these amendment options and follow the proper legal procedures while navigating their evolving business landscape.
Chicago, Illinois Amendments to Certificate of Incorporation In Chicago, Illinois, the Amendments to Certificate of Incorporation refer to the changes made to the original document filed with the Secretary of State when forming a corporation. These amendments are crucial for modifying and updating the corporation's structure, purpose, and operations. By incorporating relevant keywords, we can dive deeper into understanding the various types of Amendments to the Certificate of Incorporation in Chicago, Illinois. 1. Name Change Amendment: A name change amendment alters the corporation's legal name and is usually triggered by rebranding strategies, mergers, or other business-related reasons. Corporations in Chicago, Illinois, can file a Name Change Amendment to update their legal identity while complying with regulatory requirements. 2. Share Structure Amendment: Corporations in Chicago, Illinois, may need to adjust their share structure to better reflect their ownership and capital distribution. A Share Structure Amendment modifies the number, type, or rights associated with shares, such as voting power, dividend preferences, or conversion terms. 3. Purpose Amendment: Sometimes, a corporation's original purpose may no longer align with its current business objectives in Chicago, Illinois. Thus, a Purpose Amendment allows corporations to expand, restrict, or redefine their stated goals and activities as outlined in the Certificate of Incorporation. 4. Registered Agent Amendment: The Registered Agent Amendment involves changing the designated individual or entity responsible for receiving legal and official documents on behalf of the corporation. Corporations in Chicago, Illinois, may need to update their Registered Agent due to personnel changes, relocation, or other business requirements. 5. Principal Office Amendment: When a corporation's principal office address changes within Chicago, Illinois, or to a different state, a Principal Office Amendment is necessary. This amendment ensures that the public record accurately reflects the corporation's physical location for official correspondence and service of process purposes. 6. Director or Officer Amendment: A Director or Officer Amendment allows corporations to revise the names, titles, or positions of directors or officers listed in their Certificate of Incorporation. Changes occur when there are resignations, appointments, promotions, or if the corporation aims to restructure its leadership team. These are some key types of Amendments to the Certificate of Incorporation relevant to Chicago, Illinois. It's important for corporations in this area to be aware of these amendment options and follow the proper legal procedures while navigating their evolving business landscape.