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): May 1, 2003
BCB Bancorp, Inc.
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(Exact Name of Registrant as Specified in its Charter)
New Jersey 0- 26-0065262
- ----------------------------- --------------------- -----------------
(State or Other Jurisdiction) (Commission File No.) (I.R.S. Employer
of Incorporation) Identification No.)
860 Broadway, Bayonne, New Jersey 07002
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (201) 823-0700
Not Applicable
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(Former name or former address, if changed since last report)
Item 1. Changes in Control of Registrant
After the close of business on April 30, 2003, BCB Bancorp, Inc., a New
Jersey corporation (the "Company") became a bank holding company in accordance
with the terms of an Agreement and Plan of Acquisition, dated September 12, 2002
(the "Agreement"), by and between Bayonne Community Bank, a New Jersey
commercial bank (the "Bank"), and the Company. Pursuant to the Agreement and
N.J.S.A. 17:19A-355, the Company was organized as a wholly owned subsidiary of
the Bank and by operation of law the outstanding shares of common stock, par
value $5.00 per share, of the Bank became, on a one-for-one basis, common stock,
no par value, of the Company. The common stock of the Company held by the Bank
was canceled. Accordingly, the Bank became a wholly owned subsidiary of the
Company and the shareholders of the Bank.
The common stock of the Bank was previously registered under Section 12(g)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), with
the Federal Deposit Insurance Corporation. Pursuant to Rule 12(g)(3) promulgated
under the Exchange Act, the Company's common stock is deemed automatically
registered under the Exchange Act. In addition, the common stock of the Company
has been substituted for the common stock of the Bank on the Nasdaq Electronic
Buuletin Board and will trade under the new symbol "BCBP."
Item 7. Financial Statements, Pro Forma Financial Information, and Exhibits
The Index of Exhibits immediately precedes the attached exhibits.
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SIGNATURES
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.
BCB BANCORP, INC.
Date: May 1, 2003 By: /s/ Donald Mindiak
----------------------------
Donald Mindiak
President and Chief Executive Officer
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EXHIBIT INDEX
The following Exhibits are filed as part of this report:
Exhibit 2 Plan of Acquisition
Exhibit 3.1 Certificate of Incorporation of BCB Bancorp, Inc.
Exhibit 3.2 Bylaws of BCB Bancorp, Inc.
Exhibit 4 Form of Common Stock Certificate
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Exhibit 2
PLAN OF ACQUISITION
OF ALL THE OUTSTANDING STOCK OF
BAYONNE COMMUNITY BANK
BY
BCB BANCORP, INC.
The PLAN OF ACQUISITION (the "Plan") is entered into as of September 12,
2002 by BAYONNE COMMUNITY BANK, a commercial bank organized under the laws of
the State of New Jersey, with its principal office at 860 Broadway, Bayonne, New
Jersey 07002 (the "Bank") and BCB BANCORP, INC., a corporation in formation and
to be organized under the laws of the State of New Jersey with its principal
office at 860 Broadway, Bayonne, New Jersey 07002 (the "Holding Company").
WHEREAS, the Bank is desirous of forming a bank holding company because it
believes that a holding company will provide it with future flexibility in
undertaking the Bank's current activities and future new activities; and
WHEREAS, the Board of Directors of the Bank has determined that the
formation of a holding company is in the best interest of the Bank's
stockholders; and
WHEREAS, the Holding Company is to be formed as a New Jersey Business
Corporation Act on behalf of the Bank at the direction of the Board of Directors
of the Bank; and
WHEREAS, N.J.S.A. 17:19A-355 et seq. authorizes a New Jersey corporation
and a state-chartered bank to enter into a plan of acquisition to exchange
shares in the Bank for shares in the Holding Company, to submit the plan to the
New Jersey Department of Banking for approval and implement the plan if it is
approved by the Bank's stockholders, subject to the right of the Bank's
stockholders to dissent and receive the fair value of their shares; and
WHEREAS, the Board of Directors of each of the Bank and the Holding Company
has adopted this Plan pursuant to the provisions of N.J.S.A. 17:9A-357.
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE I
PLAN OF ACQUISITION REQUIRED BY SECTION 17:9A-357.
1.1. Name and Address of Acquiring Corporation. The name and address of the
acquiring corporation is BCB Bancorp, Inc., 860 Broadway, Bayonne, New Jersey
07002.
1.2. Name and Address of Participating Bank. The name and address of the
participating bank is: Bayonne Community Bank, 860 Broadway, Bayonne, New Jersey
07002.
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1.3. Names and Addresses of Directors. The names and addresses of the
members of the Board of Directors of the Holding Company are:
Name Address
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Robert Ballance 76 West 8th Street, Bayonne, New Jersey 07002
Judith Q. Bielan 21 Trask Avenue, Bayonne, New Jersey 07002
Joseph Brogan 300 3rd Avenue, Belmar, New Jersey 07719
James E. Collins 61 West 3rd Street, Bayonne, New Jersey 07002
Thomas Coughlin 27 Willow Way, Berkley Heights, New Jersey 07922
Donald Cymbor 86 West 14th Street, Bayonne, New Jersey 07002
Robert Doria 30 West 13th Street, Bayonne, New Jersey 07002
Phyllis Garelick 31 Parkview Terrace, Bayonne, New Jersey 07002
Mark Hogan 4 Harvest Lane, Tinton Falls, New Jersey 07725
John Hughes 870 Avenue C., Bayonne, New Jersey 07002
Joseph Lyga 78 West 14th Street, Bayonne, New Jersey 07002
H. Mickey McCabe 14 East 41st Street, Bayonne, New Jersey 07002
Dr. Gary Maita 208 Avenue A., Bayonne, New Jersey 07002
Donald Mindiak 209 Martool Drive, Woodbridge, New Jersey 07095
Alexander Pasiechnik 22 East 18th Street, Bayonne, New Jersey 07002
Dr. August Pellegrini 942 Avenue C., Bayonne, New Jersey 07002
Kenneth Poesl 18 Wesley Court, Bayonne, New Jersey 07002
Joseph Tagliareni 1023 Broadway, Bayonne, New Jersey 07002
1.4. Shares of Other Banks Owned by the Holding Company. The Holding
Company does not own any shares of capital stock of any other bank.
1.5. Term and Conditions of Acquisition. The terms and conditions of the
acquisition are the terms set forth in Articles II, III, V and VI hereof.
1.6. Effective Time. The effective time shall be the time determined under
Article VII hereof.
1.7. Other Provisions. There are no other provisions of the Plan except as
set forth herein.
ARTICLE II
CAPITALIZATION
2.1. Capitalization of the Holding Company. The Holding Company is
authorized to issue 10,000,000 shares of capital stock without nominal or par
value ("Holding Company Stock"). The Holding Company shall not issue any of
shares of Holding Company Stock prior to the Effective Time (as defined in
Article VII herein), with the exception of 100 shares of Holding Company Stock
issued to the Bank as trustee for the holders of outstanding shares of Bank
Stock, which shares of Holding Company Stock shall be redeemed by the Holding
Company immediately on the Effective Time.
2.2. Capitalization of the Bank. The Bank is authorized to issue 10,000,000
shares of common stock, par value $5.00 per share ("Bank Stock"), of which
1,898,057 shares are presently issued and outstanding. As of the date of this
Plan, there were 127,988 shares of Bank Stock issuable upon the exercise of
outstanding options ("Stock Options") granted to directors, officers or
employees of the Bank. Other than the Stock Options, there are no securities of
the Bank issued and outstanding which are convertible into share of Bank Stock.
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ARTICLE III
TERMS OF ACQUISITION
3.1. Exchange Effective Immediately. At the Effective Time, the Holding
Company shall become the owner for all purposes of all outstanding shares of
Bank Stock (subject to the provisions of Article IV hereof relating to
dissenting stockholders), with full and exclusive power to vote the same, to
receive all dividends thereon and to exercise all other rights of record and
beneficial ownership thereof.
3.2. Bank Stock. At the Effective Time, each holder of one or more shares
of Bank Stock shall become the owner of one share of Holding Company Stock for
each share of Bank Stock then held by such stockholder, with full and exclusive
power to vote the same, to receive all dividends thereon and to exercise all of
the rights of a record and beneficial owner thereof; provided, however, that
each dissenting stockholder who complies with the requirements of N.J.S.A.
17:9A-360 et seq. shall have only the rights accorded dissenting stockholders
and such dissenting stockholder's certificates shall not be deemed to represent
shares of either Holding Company Stock or Bank Stock. All shares of Bank Stock
issued and outstanding immediately prior to the Effective Time shall continue as
issued and outstanding shares immediately subsequent to the Effective Time, but
the ownership of all such shares shall vest at the Effective Time in the Holding
Company, in accordance with Section 3.1 hereof (subject to the rights of
dissenting stockholders as provided in Article IV hereof). The certificates that
evidenced shares of Bank Stock prior to the Effective Time shall, after the
Effective Time, evidence only: (a) in the case of certificates held by a
non-dissenting stockholder, ownership of a like number of shares of Holding
Company Stock as the number of shares of Bank Stock stated on the certificates;
and (b) in the case of certificates held by a dissenting stockholder, the right
to dissent from the Plan by complying with all of the requirements set forth in
N.J.S.A. 17:9A-360 et seq., and after the Effective Time no holder of any
certificate that evidenced shares of Bank Stock prior to the Effective Time
shall be entitled to vote any Bank Stock, to receive dividends thereon or to
exercise any other rights of a record or beneficial owner of Bank Stock.
3.3. Stock Options. At the Effective Time all outstanding Stock Options
shall automatically be converted to and be deemed options granted by the Holding
Company to acquire a like number of shares of Holding Company Stock, and by
approval of this Plan, the Board of Directors of the Holding Company is deemed
to have reserved such number of shares of authorized Holding Company Stock for
issuance upon exercise of such options.
3.4. Meeting of the Bank's Stockholders. This Plan shall be submitted to
the stockholders of the Bank at a meeting called and held in accordance with
applicable provisions of law.
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3.5. Exchange Procedures. At the Effective Time, the Bank shall issue
certificates for Bank Stock and deliver or cause to be delivered to the Holding
Company or its nominee a certificate or certificates evidencing all of the
outstanding shares of Bank Stock, and the Holding Company shall make
arrangements, as authorized by its Board of Directors, whereby non-dissenting
stockholders may exchange certificates held by them bearing the name of the Bank
(but evidencing shares of Holding Company Stock) for certificates bearing the
name of the Holding Company (and evidencing a like number of shares of Holding
Company Stock). Notwithstanding the time of surrender of Bank share
certificates, non-dissenting stockholders shall be deemed stockholders of the
Holding Company for all purpose from the Effective Time, except that the Holding
Company shall withhold the payment of dividends from any non-dissenting
stockholder until such stockholder effects the exchange of certificates for
Holding Company Stock. Such stockholder shall receive withheld dividends,
without interest, upon effecting the exchange of certificates.
ARTICLE IV
DISSENTING STOCKHOLDERS
Any stockholder of the Bank who desires to dissent from the acquisition
shall have the right to dissent from the Plan by complying with all of the
requirements set forth in N.J.S.A. 17:9A-360 et seq., and, if the Plan is
consummated, shall be entitled to be paid the fair value of his or her shares in
accordance with those provisions.
ARTICLE V
CONDITIONS FOR CONSUMMATION OF THE PLAN AND
RIGHT OF THE BANK TO TERMINATE PLAN PRIOR TO CONSUMMATION
5.1. Conditions for Consummation. Consummation of the Plan is conditioned
upon the following:
(a) Approval of the Plan by the Commissioner of Banking and Insurance of
the State of New Jersey pursuant to N.J.S.A. 17:9A-358;
(b) Approval of the Plan by the holders of two-thirds (2/3) or more of the
issued and outstanding Bank Stock;
(c) The Board of Governors of the Federal Reserve System approval of the
acquisition pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956,
as amended;
(d) Receipt or obtaining by the Bank and the Holding Company of all other
consents, permissions and approvals required by law or agreement to be received
or obtained by the Bank or the Holding Company prior to consummation of the
acquisition provided for herein and the expiration of all statutory waiting
periods in respect thereof.
(e) The Board of Directors of the Bank not terminating the Plan prior to
the Effective Time as permitted by Section 5.2 herein.
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5.2. Right of Bank to Terminate Plan Prior to the Effective Time. At any
time prior to the Effective Time, the Board of Directors of the Bank may
terminate the Plan if in the judgment of the Board of Directors the consummation
of the Plan is inadvisable for any reason. To terminate the Plan the Bank's
Board of Directors shall adopt a resolution terminating the Plan and, if notice
of a stockholders meeting has been given, promptly give written notice that the
Plan has been terminated to the stockholders of the Bank. Upon the adoption of
the Board resolution, the Plan shall be of no further force or effect and the
Bank and the Holding Company shall not be liable to each other, to any
stockholder of the Bank or to any other person by reason of the Plan or the
termination thereof. Without limiting the reasons for which the Bank's Board may
terminate the Plan, the Board may terminate the Plan if:
(a) The number of stockholders dissenting from the Plan and demanding
payment of the fair value of their shares would in the judgment of the Board
render the Plan inadvisable; or
(b) The Bank or Holding Company fails to receive, or fails to receive in
form and substance satisfactory to the Bank or Holding Company, any consents,
permissions and approvals required by law or agreement to be received or
obtained by the Bank or the Holding Company prior to consummation of the
acquisition provided for herein.
ARTICLE VI
EXPENSES
The Bank shall bear all of the expenses incurred by the Bank and by the
Holding Company in connection with the Plan. Without limiting the foregoing, the
Bank shall bear and pay all attorneys, accountants, and printing fees and all
licensing fees incurred in connection with this Plan and the formation of the
Holding Company.
ARTICLE VII
EFFECTIVE TIME
The Plan shall become effective at such time selected by the mutual
agreement in writing of the parties hereto (the "Effective Time"). The Effective
Time shall be within a reasonable period after the conditions set forth in
Section 5.1 have been complied with and the Bank has received any consents,
permissions or approvals without which it might terminate the plan under Section
5.2. On or prior to the agreed upon Effective Time, the Plan shall be filed with
the New Jersey Department of Banking together with a writing specifying the
Effective Time and a certification by the president or a vice-president of the
Bank and that the Bank's stockholders have approved the Plan.
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IN WITNESS WHEREOF, The Boards of Directors of BCB Bancorp, Inc. and
Bayonne Community Bank have authorized the execution of this Plan and caused
this Plan to be executed as of this date first written above.
ATTEST: BAYONNE COMMUNITY BANK
/s/ Donald S. Cymbor By: /s/ Donald Mindiak
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Donald S. Cymbor, Secretary Donald Mindiak, President
ATTEST: BCB BANCORP, INC.
/s/ Donald S. Cymbor By: /s/ Donald Mindiak
- --------------------------- ------------------------
Donald S. Cymbor, Secretary Donald Mindiak, President
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Exhibit 3.1
CERTIFICATE OF INCORPORATION
OF
BCB BANCORP, INC.
THIS IS TO CERTIFY THAT, there is hereby organized a corporation under and
by virtue of N.J.S. 14A:1-1 et seq., the "New Jersey Business Corporation Act."
ARTICLE I
Corporate Name
The name of the Corporation shall be BCB Bancorp, Inc.
ARTICLE II
Registered Office and Registered Agent
The address of the Corporation's registered office is:
BCB Bancorp, Inc.
860 Broadway
Bayonne, New Jersey 07002
The name of the registered agent at that address is:
Donald Mindiak
President and Chief Executive Officer
ARTICLE III
Initial Board of Directors and Number of Directors
The number of directors shall be governed by the By-laws of the
Corporation. The number of directors constituting the initial Board of Directors
shall be eighteen (18). The names and addresses of the initial Board of
Directors are as follows:
Name Address
---- -----------
Robert Ballance 76 West 8th Street, Bayonne, New Jersey 07002
Judith Q. Bielan 21 Trask Avenue, Bayonne, New Jersey 07002
Joseph Brogan 300 3rd Avenue, Belmar, New Jersey 07719
James E. Collins 61 West 3rd Street, Bayonne, New Jersey 07002
Thomas Coughlin 27 Willow Way, Berkley Heights, New Jersey 07922
Donald Cymbor 86 West 14th Street, Bayonne, New Jersey 07002
Robert G. Doria 30 West 13th Street, Bayonne, New Jersey 07002
Phyllis Garelick 31 Parkview Terrace, Bayonne, New Jersey 07002
Mark Hogan 4 Harvest Lane, Tinton Falls, New Jersey 07725
John Hughes 870 Avenue C., Bayonne, New Jersey 07002
Joseph Lyga 78 West 14th Street, Bayonne, New Jersey 07002
H. Mickey McCabe 14 East 41st Street, Bayonne, New Jersey 07002
Dr. Gary Maita 208 Avenue A., Bayonne, New Jersey 07002
Donald Mindiak 209 Martool Drive, Woodbridge, New Jersey 07095
Alexander Pasiechnik 22 East 18th Street, Bayonne, New Jersey 07002
Dr. August Pellegrini 942 Avenue C., Bayonne, New Jersey 07002
Kenneth Poesl 18 Wesley Court, Bayonne, New Jersey 07002
Joseph Tagliareni 14 West 13th Street, Bayonne, New Jersey 07002
ARTICLE IV
Corporate Purpose
The purpose for which the Corporation is organized is to engage in any
activities for which corporations may be organized under the New Jersey Business
Corporation Act.
ARTICLE V
Capital Stock
The Corporation is authorized to issue 10,000,000 shares of common stock,
without par value.
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ARTICLE VI
Limitation of Liability
Subject to the following, a director or officer of the Corporation shall
not be personally liable to the Corporation or its shareholders for damages for
breach of any duty owed to the Corporation or its shareholders. The preceding
sentence shall not relieve a director or officer from liability for any breach
of duty based upon an act or omission (i) in breach of such person's duty of
loyalty to the Corporation or its shareholders, (ii) not in good faith or
involving a knowing violation of law, or (iii) resulting in receipt by such
person of an improper personal benefit. If the New Jersey Business Corporation
Act is amended to authorize corporate action further eliminating or limiting the
personal liability of directors or officers, then the liability of a director or
officer or both of the Corporation shall be eliminated or limited to the fullest
extent permitted by the New Jersey Business Corporation Act as so amended. Any
amendment to this Certificate of Incorporation, or change in law which
authorizes this paragraph shall not adversely affect any then existing right or
protection of a director or officer of the Corporation.
ARTICLE VII
Indemnification
The Corporation shall indemnify its officers, directors, employees and
agents and former officers, directors, employees and agents, and any other
persons serving at the request of the Corporation as an officer, director,
employee or agent of another corporation, association, partnership, joint
venture, trust, or other enterprise, against expenses (including attorneys'
fees, judgments, fines and amounts paid in settlement) incurred in connection
with any pending or threatened action, suit, or proceeding, whether civil,
criminal, administrative or investigative, with respect to which such officer,
director, employee, agent or other person is party, or is threatened to be made
a party, to the full extent permitted by the New Jersey Business Corporation
Act. The indemnification provided herein (i) shall not be deemed exclusive of
any other right to which any person seeking indemnification may be entitled
under any by-law, agreement, or vote of shareholders of disinterested directors
or otherwise, both as to action in his or her official capacity and as to action
in any other capacity, and (ii) shall insure to the benefit of the heirs,
executors, and the administrators of any such person. The Corporation shall have
the power, but shall not be obligated, to purchase and maintain insurance on
behalf of any person or persons enumerated above against any liability asserted
against or incurred by them or any of them arising out of their status as
corporate directors, officers, employees, or agents whether or not the
Corporation would have the power to indemnify them against such liability under
the provisions of this article.
The Corporation shall, from time to time, reimburse or advance to any
person referred to in this article the funds necessary for payment of expenses,
including attorneys' fees, incurred in connection with any action, suit or
proceeding referred to in this article, upon receipt of a written undertaking by
or on behalf of such person to repay such amount(s) if a judgment or other final
adjudication adverse to the director or officer establishes that the director's
or officer's acts or omissions (i) constitute a breach of the director's or
officer's duty of loyalty to the corporation or its shareholders, (ii) were not
in good faith, (iii) involved a knowing violation of law, (iv) resulted in the
director or officer receiving an improper personal benefit, or (v) were
otherwise of such a character that New Jersey law would require that such
amount(s) be repaid.
ARTICLE VIII
Name and Address of Incorporator
The name and address of the incorporator is:
Alan Schick, Esq.
Luse Gorman Pomerenk & Schick, P.C.
5335 Wisconsin Avenue, N.W., Suite 400
Washington, DC 20015
IN WITNESS WHEREOF, I, the incorporator of the above named Corporation,
being over eighteen years of age, have signed this Certificate of Incorporation
on the 3rd day of February, 2003.
/s/ Alan Schick
--------------------------------
Alan Schick, Esq.
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Exhibit 3.2
BY-LAWS
OF
BCB BANCORP, INC.
Section 1. LAW, CERTIFICATE OF INCORPORATION AND BY-LAWS
1.1. These by-laws are subject to the certificate of incorporation of the
corporation. In these by-laws, references to law, the certificate of
incorporation and by-laws mean the law, the provisions of the certificate of
incorporation and the by-laws as from time to time in effect.
Section 2. SHAREHOLDERS
2.1. Annual Meeting. The annual meeting of shareholders at such 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 time the shareholders shall elect
a board of directors and transact such other business as may be required by law
or these by-laws or as may properly come before the meeting.
2.2. Special Meetings. A special meeting of the shareholders may be called
at any time by the chairman of the board, if any, the president or board of
directors. A special meeting of the shareholders shall be called by the
secretary, or in the case of the death, absence, incapacity or refusal of
secretary, by an assistant secretary or some other officer, upon application of
a majority of the directors. Any such application shall state the purpose or
purposes of the proposed meeting. Any such call shall state the place, date,
hour, and purposes of the meeting.
2.3. Place of Meeting. All meetings of the shareholders for the election of
directors or for any other purpose shall be held at such place within or without
the State of New Jersey as may be determined from time to time by the board of
directors. Any adjourned session of any meeting of the shareholders shall be
held at the place designated in the vote of adjournment.
2.4. Notice of Meetings. Except as otherwise provided by law, a written
notice of each meeting of shareholders stating the place, day and hour thereof
and, in the case of a special meeting, the purposes for which the meeting is
called, shall be given not less then ten nor more than sixty days before the
meeting, to each shareholder entitled to vote thereat, and to each shareholder
who, by law, by the certificate of incorporation or by these by-laws, is
entitled to notice, by leaving such notice with him or at his residence or usual
place of business, or by depositing it in the United States mail, postage
prepaid, and addressed to such shareholder at his address as it appears in the
records of the corporation. Such notice shall be given by the secretary, or by
an officer or person designated by the board of directors, or in the case of a
special meeting by the officer calling the meeting. As to any adjourned session
of any meeting of shareholders, notice of the adjourned meeting need not be
given if the time and place thereof are announced at the meeting at which the
adjournment was taken except that if after the adjournment a new record date is
set for the adjourned session, notice of any such adjourned session of the
meeting shall be given in the manner heretofore described. No notice of any
meeting of shareholders or any adjourned session thereof need be given to a
shareholder if a written waiver of notice, executed before or after the meeting
or such adjourned session by such shareholder, in person or by proxy, is filed
with the records of the meeting or if the shareholder attends such meeting, in
person or by proxy, without objecting at the beginning of the meeting to the
transaction of any business because the meeting is not lawfully called or
convened. Neither the business to be transacted at, nor the purpose of, any
meeting of the shareholders or any adjourned session thereof need be specified
in any written waiver of notice.
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2.5. Quorum of Shareholders. At any meeting of the shareholders a quorum
shall consist of a majority of the votes entitled to be cast at the meeting,
except where a larger quorum is required by law, by the certificate of
incorporation or by these by-laws. Any meeting may be adjourned from time to
time by a majority of the votes properly cast upon the question, whether or not
a quorum is present. if a quorum is present at an original meeting, a quorum.
need not be present at an adjourned session of that meeting. Shares of its own
stock belonging to the corporation or to another corporation, if a majority of
the shares entitled to vote in the election, of directors of such other
corporation is held, directly or indirectly, by the corporation, shall neither
be entitled to vote nor be counted for quorum purposes; provided, however, that
the foregoing shall not limit the right of any corporation to rote stock,
including but not limited to its own stock, held by it in a fiduciary capacity.
2.6. Action by Vote. When a quorum is present at any meeting, a plurality
of the votes properly cast for election to any office shall elect to such office
and a majority of the votes properly cast upon any question other than an
election to an office shall decide the question, except when a larger vote is
required by law, by the certificate of incorporation or by these by-laws. No
ballot shall be required for any election unless requested by a shareholder
present or represented at the meeting and entitled to vote in the election.
2.7. Action without Meetings. Unless otherwise provided in the certificate
of incorporation or by applicable law, any action required or permitted to be
taken by shareholders for or in connection with any corporate action 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 all of the
holders of outstanding stock entitled to vote thereon. The writing or writings
comprising such unanimous consent shall be filed with the records of the
meetings of shareholders.
Unless otherwise provided in the certificate of incorporation or by
applicable law, any action required or permitted to be taken by shareholders for
or in connection with any corporate action 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 that number of shares of
outstanding stock which would have been entitled to cast the minimum number of
votes necessary to approve the action taken at a meeting of shareholders at
which all of the shareholders entitled to vote on the action were present and
voting, and the provisions of N.J.S.A. ss.14A:5-6(2) are complied with.
2.8. Proxy Representation. Every shareholder may authorize another person
or persons to act for him by proxy in all matters in which a shareholder is
entitled to participate, whether by waiving notice of any meeting, objecting to
or voting or participating at a meeting, or expressing consent or dissent
without a meeting. Every proxy must be signed by the shareholder or by his
attorney-in-fact. No proxy shall be voted or acted upon after eleven months from
its date unless such proxy provides for a longer period. A duly executed proxy
shall be irrevocable, and, if, and only as long as, it is coupled with an
interest sufficient in law to support an irrevocable power. A proxy may be made
irrevocable regardless of whether the interest with which it is coupled is an
interest in the stock itself or an interest in the corporation generally. The
authorization of a proxy may but need not be limited to specified action
provided, however, that if a proxy limits its authorization to a meeting or
meetings of shareholders, unless otherwise specifically provided, such proxy
shall entitle the holder thereof to vote at any adjourned session but shall not
be valid after the final adjournment thereof.
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2.9. Inspectors. The directors or tie person presiding at the meeting may,
but need not, appoint one or more inspectors of election and any substitute
inspectors to act at the meeting or any adjournment thereof. Each inspector,
before entering upon the discharge of his duties, shall take and sign an oath
faithfully to execute the duties of inspector at such meeting with strict
impartiality and according to the best of his ability. The inspectors, if any,
shall determine the number of shares of stock outstanding and the voting power
of each, the shares of stock represented at the meeting, the existence of a
quorum, the validity and effect of proxies, and shall receive votes, ballots or
consents, hear and determine all challenges and questions arising in connection
with the right to vote, count and tabulate all votes, ballots or consents,
determine the result, and do such acts as are proper to conduct the election or
vote with fairness to all shareholders. On request of the person presiding at
the meeting, the inspectors shall make a report in writing of any challenge,
question or matter determined by them. and execute a certificate of any fact
found by them.
2.10. List of Shareholders. The secretary shall prepare and make, at least
ten days before every meeting of shareholders, a complete list of the
shareholders entitled to vote at such meeting, arranged in alphabetical order
and showing the address of each shareholder and the number of shares registered
in his name. The stock ledger shall be the only evidence as to who are
shareholders entitled to examine such list or to vote in person or by proxy at
such meeting.
Section 3. BOARD OF DIRECTORS
3.1. Number. The number of directors which shall constitute the whole board
shall not be less than one nor more than twenty-five in number. Thereafter,
within the foregoing limits, the Board of Directors shall determine the number
of directors and the shareholders at the annual meeting shall elect the number
of directors as determined. Within the foregoing limits, the number of directors
may be increased at any time or from time to time by the shareholders or by the
directors by vote of a majority of the directors then in office. The number of
directors may be decreased to any number permitted by the foregoing at any time
either by the shareholders or by the directors by vote of a majority of the
directors then in office, but only to eliminate vacancies existing by reason of
the death, resignation or removal of one or more directors. Directors need not
be shareholders.
3.2. Tenure. Except as otherwise provided by law, by the certificate of
incorporation or by these by-laws, each director shall hold office until the
next annual meeting and until his successor is elected and qualified, or until
he sooner dies, resigns, is removed or becomes disqualified.
3.3. Powers. The business and affairs of the corporation shall be managed
by or under the direction of the board of directors who shall have and may
exercise all the powers of the corporation and do all such lawful acts and
things as are not by law, the certificate of incorporation or these by-laws
directed or required to be exercised or done by the shareholders.
3.4. Vacancies. Vacancies and any newly created directorships resulting
from any increase in the number of directors may be filled by vote of the
shareholders at a meeting called for the purpose, or by a majority of the
directors then in office, although less than a quorum, or by a sole remaining
director. When one or more directors shall resign from the board, effective at a
future date, a majority of the directors then in office, including those who
have resigned, shall have power to fill such vacancy or vacancies, the vote or
action by writing thereon to take effect when such resignation or resignations
shall become effective. The directors shall have and may exercise all their
powers notwithstanding the existence of one or more vacancies in their number,
subject to any requirements of law or of the certificate of incorporation or of
these by-laws as to the number of directors required for a quorum or for any
vote or other actions.
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3.5. Committees. The board of directors may, by vote of a majority of the
whole board, (a) designate, change the membership of or terminate the existence
of any committee or committees, each committee to consist of one or more of the
directors; (b) designate one or more directors as alternate members of any such
committee who may replace any absent or disqualified member at any meeting of
the committee; and (c) determine the extent to which each such committee shall
have and may exercise the powers of the board of directors in the management of
the business and affairs of the corporation, including the power to authorize
the seal of the corporation to be affixed to all papers which require it and the
power and authority to declare dividends or to authorize the issuance of stock;
excepting, however, such powers which by law, by the certificate of
incorporation or by these by-laws they are prohibited from so delegating. In the
absence or disqualification of any member of such committee and his alternate,
if any, the member or members thereof present at any meeting and not
disqualified from voting, whether or not constituting 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. Except as the board of
directors may otherwise determine, any committee may make rules for the conduct
of its business, but unless otherwise provided by the board or such rules, its
business shall be conducted as nearly as may be in the same manner as is
provided by these by-laws for the conduct of business by the board of directors.
Each committee shall keep regular minutes of its meetings and report the same to
the board of directors upon request.
3.6. Regular Meetings. Regular meetings of the board of directors may be
held without call or notice at such places within or without the State of New
Jersey and at such times as the board may from time to time determine, provided
that notice of the first regular meeting following any such determination shall
be given to absent directors. A regular meeting of the directors may be held
without call or notice immediately after and at the same place as the annual
meeting of shareholders.
3.7. Special Meetings. Special meetings of the board of directors may be
held at any time and at any place within or without the State of New Jersey
designated in the notice of the meeting, when called by the chairman of the
board, if any, the president, or by one-third or more in number of the
directors, reasonable notice thereof being given to each director by the
secretary or by the chairman of the board, if any, the president or any one of
the directors calling the meeting.
3.8. Notice. It shall be reasonable and sufficient notice to a director to
send notice by mail at least forty-eight hours or by telegram at least
twenty-four hours before the meeting addressed to him at his usual or last known
or residence address or to give notice to him in person or by telephone
twenty-four hours before the meeting. Notice of a meeting need not be given to
any director if a written waiver of notice, executed by him before or after the
meeting, is filed with the records of the meeting, or to any director who
attends the meeting without protesting prior thereto or at its commencement the
lack of notice to him. Neither notice of a meeting nor a waiver of a notice need
specify the purposes of the meeting.
3.9. Quorum. Except as may be otherwise provided by law, by the certificate
of incorporation or by these by-laws, at any meeting of the directors a majority
of the directors then in office shall constitute a quorum; a quorum shall not in
any case be less than one-third of the total number of directors constituting
the whole board. Any meeting may be adjourned from time to by a majority of the
votes cast upon the question, whether or not a quorum is present, and the
meeting may be held as adjourned without further notice.
3.10. Action by Vote. Except as may be otherwise provided by law, by the
certificate of incorporation or by these by-laws, when a quorum is present at
any meeting the vote of a majority of the directors present shall be the act of
the board of directors.
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3.11. Action Without a Meeting. Any action required or permitted to be
taken at any meeting of the board of directors or a committee thereof may be
taken without a meeting if all the members of the board or of such committee, as
the case may be, consent thereto in writing, and such writing or writings are
filed with the records of the meetings of the board or of such committee. Such
consent shall be treated for all purposes as the act of the board or of such
committee, as the case may be.
3.12. Participation in Meetings by Conference Telephone. Members of the
board of directors, or any committee designated by such board, may participate
in a meeting of such board or committee by means of conference telephone or
similar communications equipment by means of which all persons participating in
the meeting can hear each other or by any other means permitted by law. Such
participation shall constitute presence in person at such meeting.
3.13. Compensation. In the discretion of the board of directors, each
director may be paid such fees for his services as director and be reimbursed
for his reasonable expenses incurred in the performance of his duties as
director as the board of directors from time to time may determine. Nothing
contained in this section shall be construed to preclude any director from
serving the corporation in any other capacity and receiving reasonable
compensation therefor.
3.14. Interested Directors and Officers.
(a) No contract or transaction between the corporation and one or more of
its directors or officers, or between the corporation and any other corporation,
partnership, association, or other organization in which one or more of the
corporation's directors or officers are directors or officers, or have a
financial interest, shall be void or voidable solely for this reason, or solely
because the director or officer is present at or participates in the meeting of
the board or committee thereof which authorizes the contract or transaction, or
solely because his or their votes are counted for such purpose, if any one of
the following is true:
(1) The material facts as to his relationship or interest and as to the
contract or transaction are disclosed or are known to the board of directors or
the committee, and the board or committee in good faith authorizes the contract
or transaction by the affirmative votes of a majority of the disinterested
directors, even though the disinterested directors be less than a quorum; or
(2) The material facts as to his relationship or interest and as to the
contract or transaction are disclosed or are known to the shareholders entitled
to vote thereon, and the contract or transaction is specifically approved in
good faith by vote of the shareholders; or
(3) The contract or transaction is fair as to the corporation as of the
time it is authorized, approved or ratified, by the, board of directors, a
committee thereof, or the shareholders.
(b) Common or interested directors may be counted in determining the
presence of a quorum at a meeting of the board of directors or of a committee
which authorizes the contract or transaction.
Section 4. OFFICERS AND AGENTS
4.1. Enumeration; Qualification. The officers of the corporation shall be a
president, a treasurer, a secretary and such other officers, if any, as the
board of directors from time may in its discretion elect or appoint including
without limitation a chairman of the board, one or more vice presidents and a
controller. The corporation may also have such agents, if any, as the board of
directors from time may in its discretion choose. Any officer may be but none
need be a director of shareholder. Any two or more offices may be held by the
same person. Any officer may be required by the board of directors to secure the
faithful performance of his duties to the corporation by giving bond in such
amount and with sureties or otherwise as the board of directors may determine.
4.2. Powers. Subject to law, to the certificate of incorporation and to the
other provisions of these by-laws, each officer shall have, in addition to the
duties and powers herein set forth, such duties and powers as are commonly
incident to his office and such additional duties and powers as the board of
directors may from time to time designate.
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4.3. Election. The officers may be elected by the board of directors at
their first meeting following the annual meeting of the shareholders or at any
other time. At any time or from time to time the directors may delegate to any
officer their power to elect or appoint any other officer or any agents.
4.4. Tenure. Each officer snail hold office until the first meeting of the
board of directors following the next annual meeting of the shareholders and
until his respective successor is chosen and qualified unless a shorter period
shall have been specified by the terms of his election or appointment, or in
each case until he sooner dies, resigns, is removed or becomes disqualified.
Each agent shall retain his authority at the pleasure of the directors, or the
officer by whom he was appointed or by the officer who then holds agent
appointive power.
4.5. Chairman of the Board of Directors, President and Vice President. The
chairman of the board, if any, shall have such duties and powers as shall be
designated from time to time by the board of directors. Unless the board of
directors otherwise specifies, the chairman of the board, or if there is none
the chief executive officer, shall preside, or designate the person who shall
preside, at all meetings of the shareholders and of the board of directors.
Unless the board of directors otherwise specifies, the president shall be
the chief executive officer and shall have direct charge of all business
operations of the corporation and, subject to the control of the directors,
shall have general charge and supervision of the business of the corporation.
Any vice presidents shall have such duties and powers as shall be set forth
in these by-laws or as shall be designated from time to time by the board of
directors or by the president.
4.6. Treasurer and Assistant Treasurers. The treasurer shall be the chief
financial officer of the corporation and shall be in charge of its funds and
valuable papers, and shall have such other duties and powers as may be
designated from time to time by the board of directors or by the president. If
no controller is elected, the treasurer shall also have the duties and powers of
the controller
Any assistant treasurers shall have such duties and powers as shall be
designated from time to time by the board of directors, the president or the
treasurer.
4.7. Controller and Assistant Controllers. If a controller is elected, he
shall be the chief accounting officer of the corporation and shall be in charge
of its books of account and accounting records, and of its accounting
procedures. He shall have such other duties and powers as may be designated from
time to time by the board of directors, the president or the treasurer.
Any assistant controller shall have such duties and powers as shall be
designated from time to time by the board of directors, the president, the
treasurer or the controller.
4.8. Secretary and Assistant Secretaries. The secretary shall record all
proceedings of the shareholders, of the board of directors and of committees of
the board of directors in a book or series of books to be kept therefor and
shall file therein ail actions by written consent of shareholders or directors.
In the absence of the secretary from any meeting, an assistant secretary, or if
there be none or he is absent, a temporary secretary chosen at the meeting,
shall record the proceedings thereof. Unless a transfer agent has been appointed
the secretary shall keep or cause to be kept the stock and transfer records of
the corporation, which shall contain the names and record addresses of all
shareholders and the number of shares registered in the name of each
shareholder. He shall have such other duties and powers as may from time to time
be designated by the board of directors or the president.
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Any assistant secretaries shall have such duties and powers as shall be
designated from. time to time by the board of directors, the president or the
secretary.
Section 5. RESIGNATIONS AND REMOVALS
5.1. Any director or officer may resign at any time by delivering his
resignation in writing to the chairman of the board, if any, the president, or
the secretary or to a meeting of the board of directors. Such resignation shall
be effective upon receipt unless specified to be effective at some other time,
and without in either case the necessity of its being accepted unless the
resignation shall so state. A director (including persons elected by directors
to fill vacancies in the board) may be removed from office with or without cause
by the vote of the holders of a majority of the shares issued and outstanding
and entitled to vote in the election of directors. The board of directors may at
any time remove any officer either with or without cause. The board of directors
may at any time terminate or modify the authority of any agent. No director or
officer resigning and (except where a right to receive compensation shall be
expressly provided in a duly authorized written agreement with the corporation)
no director or officer removed shall have any right to any compensation as such
director or officer for any period following his resignation or removal, or any
right to damages on account of such removal, whether his compensation be by the
month or by the year or otherwise; unless, in the case of a resignation, the
directors, or, in the case of removal, the body acting on the removal, shall in
their or its discretion provide for compensation.
Section 6. VACANCIES
6.1. If the office of the president or the treasurer or the secretary
becomes vacant, the directors may elect a successor by vote of a majority of the
directors then in office. If the office of any other officer becomes vacant, any
person or body empowered to elect or appoint that officer may choose a
successor. Each such successor shall hold office for the unexpired term, and in
the case of the president, the treasurer and the secretary until his successor
is chosen and qualified or in each case until he sooner dies, resigns, is
removed or becomes disqualified. Any vacancy of a directorship shall be filled
as specified in Section 3.4 of these by-laws.
Section 7. CAPITAL STOCK
7.1 Stock Certificates. Each shareholder shall be entitled to a certificate
stating the number and the class and the designation of the series, if any, of
the shares held by him, in such form as shall, in conformity to law, the
certificate of incorporation and the by-laws, be prescribed from time to time by
the board of directors. Such certificate shall be signed by the chairman or vice
chairman of the board, if any, or the president or a vice president and may be
countersigned by the treasurer or an assistant treasurer or by the secretary or
an assistant secretary. Any of or ail the signatures on the certificate may be a
facsimile. 1n case an officer, transfer agent, or registrar who has signed or
whose facsimile signature has been placed on such 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 time of its issue.
7.2. Loss of Certificates. In the case of the alleged theft, loss,
destruction or mutilation of a certificate of stock, a duplicate certificate may
be issued in place thereof; upon such terms, including receipt of a bond
sufficient to indemnify the corporation against any claim on account thereof, as
the board of directors may prescribe.
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Section 8. TRANSFER OF SHARES OF STOCK
8.1. Transfer on Books. Subject to the restrictions, if any, stated or
noted on the stock certificate, shares of stock may be transferred on the books
of the corporation by the surrender to the corporation or its transfer agent of
the certificate therefor properly endorsed or accompanied by a written
assignment and power of attorney properly executed, with necessary transfer
stamps affixed, and with such proof of the authenticity of signature as the
board of directors or the transfer agent of the corporation may reasonably
require. Except as may be otherwise required by law, by the certificate of
incorporation or by these by-laws, the corporation shall be entitled to treat
the record holder of stock as shown. on its books as the owner of such stock for
all purposes, including the payment of dividends and the right to receive notice
and to vote or to give any consent with respect thereto, regardless of any
transfer, pledge or other disposition of such stock until the shares have been
properly transferred on the books of the corporation.
It shall be the duty of each shareholder to notify the corporation of his
post office address.
8.2. Record Date and Closing Transfer Books. In order that the corporation
may determine the shareholders entitled to notice of or to vote at any meeting
of shareholders or any adjournment thereof, or to express consent to corporate
action in writing without a meeting, or entitled to receive payment any dividend
or other distribution or allotment of any rights, or entitled exercise any
rights in respect of any change, conversion or exchange of stock of 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 nor less than ten days or such
longer period as may be required by law) before the date of such meeting nor
more than sixty days prior to any other action.
If no record date is fixed:
(a) The record date for determining shareholders entitled to notice of or
to vote at a meeting of shareholders shall be at the close of business on the
day next preceding the day on which notice is given, or, if notice is waived, at
the close of business on the day next preceding the day on which the meeting is
held.
(b) The record date for determining shareholders entitled to express
consent to corporate action in writing without a meeting, when, no prior action
by the board of directors is necessary, shall be the day or which the first
written consent is expressed.
(c) The record date for determining shareholders for any other purpose
shall be at the close of business on the day on which the board of directors
adopts the resolution relating thereto.
A determination of shareholders of record entitled to notice of or to vote
at a meeting of shareholders 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 9. CORPORATE SEAL
9.1. Subject to alteration by the directors, the seal of the corporation
shall consist of a flat-faced circular die with the word "New Jersey" and the
name of the corporation cut or engraved thereon, together with such other words,
dates or images as may be approved from. time to time by the directors.
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Section 10. EXECUTION OF PAPERS
10.1 Except as the board of directors may generally or in particular cases
authorize the execution thereof in some other manner, all deeds, leases,
transfers, contracts, bonds, notes, checks, drafts or other obligations made,
accepted or endorsed by the corporation shall be signed by the chairman of the
board, if any, the president, a vice president or the treasurer.
Section 11. FISCAL YEAR
11.1. The fiscal year of the corporation shall be determined from time to
time by the board of directors.
Section 12. INDEMNIFICATION
12.1. Indemnification of Directors and Officers. The corporation shall, to
the fullest extent permitted by applicable law, indemnify any person (and the
heirs, executors and administrators thereof) who was or is made, or threatened
to be made, a party to an action, suit or proceeding, whether civil, criminal,
administrative or investigative, whether involving any actual or alleged breach
of duty, neglect or error, any accountability, or any actual or alleged
misstatement, misleading statement or other act or omission and whether brought
or threatened in any court or administrative or legislative body or agency,
including an action by or in the right of the corporation to procure a judgment
in its favor and an action by or in the right of any other corporation of any
type or kind, domestic or foreign, or any partnership, joint venture, trust,
employee benefit plan or other enterprise, which any director or officer of the
corporation is serving or has served in any capacity at the request of the
corporation, by reason of the fact that he, his testator or intestate is or was
a director or officer of the corporation, or is serving or has served such other
corporation partnership, joint venture, trust, employee benefit plan or other
enterprise in any capacity against judgments, fines, amounts paid in settlement,
and costs, charges and expenses, including attorneys' fees, incurred therein or
in any appeal thereof.
12 .2 Indemnification of Others. The Corporation shall indemnify other
persons and reimburse the expenses thereof, to the extent required by applicable
law, and may indemnify any other person, to whom the Corporation is permitted to
provide indemnification or the advancement of expenses, whether pursuant to
rights granted pursuant to, or provided by, the New Jersey Business Corporation
Act or otherwise.
12.3. Advances or Reimbursement of Expenses. The corporation shall, from
time to time, reimburse or advance to any person referred to in Section 12.1 the
funds necessary for payment of expenses, including attorneys' fees, incurred in
connection with any action, suit or proceeding referred to in Section 12.1, upon
receipt of a written undertaking by or on behalf of such person to repay such
amount(s) if a judgment or other final adjudication adverse to the director or
officer establishes that his acts or omissions (i) constitute a breach of his
duty of loyalty to the corporation or its shareholders, (ii) were not in good
faith, (iii) involved a knowing violation of law, (iv) resulted in his receiving
an improper personal benefit, or (v) were otherwise of such a character that New
Jersey law would require that such amount(s) be repaid.
12.4. Service of Certain Entities Deemed Requested. Any director or officer
of the corporation serving (i) another corporation, of which a majority of the
shares entitled to vote in the election of its directors is held by the
corporation, or (ii) any employee benefit plan of the corporation or any
corporation referred in clause (i), in any capacity shall be deemed to be doing
so at the request of the Corporation.
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12.5. Interpretation. Any person entitled to be indemnified or to the
reimbursement or advancement of expenses as a matter of right pursuant to this
Article may elect to have the right to indemnification (or advancement of
expense) interpreted on the basis of the applicable law in effect at the time of
the occurrence of the event or events giving rise to the action, suit or
proceeding, to the extent permitted by applicable law, or on the basis of the
applicable law in effect at the time indemnification is sought.
12.6. Indemnification Right. The right to be indemnified or to the
reimbursement or advancement of expenses pursuant to this Article (i) is a
contract right pursuant to which the person entitled thereto may bring suit as
if the provisions hereof were set forth in a separate written contract between
the corporation and the director or officer, (ii) is intended to be retroactive
and shall be available with respect to events occurring prior to the adoption
hereof, (iii) shall continue to exist after any elimination of or amendment to
this Article 12 hereof with respect to events occurring prior thereto, and (iv)
and shall not be deemed exclusive of any other rights to which any person
claiming indemnification hereunder may be entitled.
12.7. Indemnification Claims. If a request to be indemnified or for the
reimbursement or advancement of expenses pursuant hereto is not paid in full by
the corporation within thirty 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 also to be paid the expenses of
prosecuting such claim. Neither the failure of the corporation (including its
Board of Directors, independent legal counsel, or its shareholders) to have made
a determination prior to the commencement of such action that indemnification of
or reimbursement or advancement of expenses to the claimant is proper in the
circumstances, nor an actual determination by the corporation (including its
Board of Directors independent legal counsel, or its shareholders) that the
claimant is not entitled to indemnification or to the reimbursement or
advancement of expenses, shall be a defense to the action or create a
presumption that the claimant is not so entitled.
Section 13. AMENDMENTS
13.1. These by-laws may be adopted, amended or repealed by vote of a
majority of the directors then in office or by vote of a majority of the stock
outstanding and entitled to vote. Any by-law, whether adopted, amended or
repealed by the shareholders or directors, may be amended or reinstated by the
shareholders or the directors.
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Exhibit 4
INCORPORATED UNDER THE LAWS OF THE STATE OF NEW JERSEY
No. __ BCB BANCORP, INC. _____ Shares
FULLY PAID AND NON-ASSESSABLE
NO PAR VALUE PER SHARE
CUSIP 055298 10 3
THIS CERTIFIES that is the owner of
SHARES OF COMMON STOCK
BCB Bancorp, Inc.
a New Jersey corporation
The shares evidenced by this certificate are transferable only on the books
of BCB Bancorp, Inc. by the holder hereof, in person or by attorney, upon
surrender of this certificate properly endorsed. This certificate is not valid
until countersigned by the Transfer Agent and registered by the Registrar. The
capital stock evidenced hereby is not an account of an insurable type and is not
insured by the Federal Deposit Insurance Corporation or any other Federal or
state governmental agency.
IN WITNESS WHEREOF, BCB Bancorp, Inc. has caused this certificate to be
executed by the facsimile signatures of its duly authorized officers and has
caused a facsimile of its seal to be hereunto affixed.
DATED:
By [SEAL] By
------------------------ -------------------------
Olivia Klim Donald Mindiak
Corporate Secretary President and Chief
Executive Officer
The following abbreviations when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations.
TEN COM - as tenants in common UNIF GIFT MIN ACT -
Custodian __________ __________
(Cust) (Minor)
TEN ENT - as tenants by the entireties
Under Uniform Gifts to Minors Act
JT TEN - as joint tenants with right
of survivorship and not as
tenants in common ---------------------------------
(State)
Additional abbreviations may also be used though not in the above list
For value received, hereby sell, assign and transfer unto
-----------------------
PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER
____________________________________________________________________________
(please print or typewrite name and address including postal zip code of
assignee)
__________________________________________________ Shares of the Common Stock
represented by the within Certificate, and do hereby irrevocably constitute and
appoint ________________________________________________________________________
Attorney to transfer the said shares on the books of the within named
corporation with full power of substitution in the premises.
Dated,
-----------------------------
In the presence of Signature:
- -------------------------------- --------------------------------
NOTE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME OF THE
STOCKHOLDER(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR,
WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATSOEVER.
The signature(s) of the assignor(s) must be guaranteed hereon by a
participant in either the Securities Transfer Agent's Medallion Program (STAMP),
the Stock Exchange Medallion (SEMP), or the New York Stock Exchange Medallion
Program (MSP).
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