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FORM 8-K/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 2, 1998
N-VIRO INTERNATIONAL CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
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<S> <C> <C>
DELAWARE 0-21802 34-1741211
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
<S> <C> <C>
3450 W. CENTRAL AVENUE, SUITE 328
TOLEDO, OHIO 43606
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (419) 535-6374
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ITEM 5. OTHER ITEMS
At the Annual Meeting of Stockholders of N-Viro International
Corporation, a Delaware corporation (the "Company"), a majority of the
Stockholders of the Company adopted two proposals to amend the Certificate of
Incorporation of the Company. The Certificate of Incorporation of the Company
was amended and restated to reduce the number of authorized shares of capital
stock of the Company to 7,000,000 shares of common stock and 2,000,000 shares of
preferred stock and to include a new Article Ten providing for a shareholder
super majority vote requirement for the approval of certain takeover offers
presented to the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired
None.
(b) Pro Forma Financial Information
None.
(c) Exhibits
3.1 Amended and Restated Certificate of Incorporation
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Dated: June 18, 1998 By: /s/ James K. McHugh
--------------------------------------
James K. McHugh, Chief Financial Officer,
Secretary and Treasurer
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EXHIBIT INDEX
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<CAPTION>
DESIGNATION NUMBER
UNDER ITEM 601 OF
EXHIBIT NO. REGULATION S-K DESCRIPTION
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<S> <C> <C>
3.1 3(i) Amended and Restated
Certificate of Incorporation
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Exhibit 3.1
AMENDED AND RESTATED
CERTIFICATE OF INCORPORATION
OF
N-VIRO INTERNATIONAL CORPORATION
We, J. Patrick Nicholson, Chairman of the Board, Chief Executive
Officer and President, and James K. McHugh, Chief Financial Officer, Secretary
and Treasurer, of N-Viro International Corporation, a Delaware corporation (the
"Corporation"), do hereby certify that, in accordance with the General
Corporation Law of the State of Delaware (the "DGCL"), Title 8, Sections 103,
242 and 245 of the DGCL, the Corporation's Certificate of Incorporation, which
was originally filed on April 29, 1993, is hereby amended and restated in its
entirety to read as follows:
ARTICLE ONE
The name of the Corporation is N-Viro International Corporation.
ARTICLE TWO
The address of the Corporation's registered office in the State of
Delaware is Corporation Trust Center, 1209 Orange Street, City of Wilmington,
County of New Castle 19801. The name of its registered agent at such address is
The Corporation Trust Company.
ARTICLE THREE
The purpose of the Corporation is to engage in any lawful act or
activity for which corporations may be organized under the General Corporation
Law of Delaware.
ARTICLE FOUR
The total number of all classes of stock which the Corporation
shall have authority to issue is nine million (9,000,000) shares, of which two
million (2,000,000) shares, designated as Preferred Stock, shall have a par
value of One Cent ($.01) per share (the "Preferred Stock"), and seven million
(7,000,000) shares, designated as Common Stock, shall have a par value of One
Cent ($.01) per share (the "Common Stock").
A statement of the powers, preferences and rights, and the
qualifications, limitations or restrictions thereof, in respect of each class of
stock of the Corporation is as follows:
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PREFERRED STOCK
---------------
The Preferred Stock may be issued from time to time by the Board
of Directors as shares of one or more classes or series. The designations,
powers, preferences and relative, optional, conversion and other special rights,
and the qualifications, limitations and restrictions thereof, of Preferred Stock
of each class or series shall be such as are stated and expressed herein and, to
the extent not stated and expressed herein, shall be such as may be fixed by the
Board of Directors (authority so to do being hereby expressly granted) and
stated and expressed in a resolution or resolutions adopted by the Board of
Directors providing for the issue of Preferred Stock of such class or series.
Such resolution or resolutions shall (a) specify the class or series to which
such Preferred Stock shall belong, (b) fix the dividend rate therefor, (c) fix
the amount which the holders of Preferred Stock of such class or series shall be
entitled to be paid in the event of a voluntary liquidation, dissolution or
winding up of the Corporation, (d) state whether or note Preferred Stock of such
class or series shall be redeemable and at what times and under what conditions
and the amount or amounts payable thereon in the event of redemption, (e) fix
the voting powers of the holders of Preferred Stock of such class or series,
whether full or limited, or without voting powers, but in no event shall the
holders of Preferred Stock of such class or series be entitled to more than one
vote for each share held at all meetings of the stockholders of the Corporation;
and may, in a manner not inconsistent with the provisions of this ARTICLE FOUR,
(i) limit the number of shares of such class or series which may be issued, (ii)
provide for a sinking or purchase fund for the redemption or purchase of shares
of such class or series and the terms and provisions governing the operation of
any such fund and the status as to reissuance of shares of Preferred Stock
purchased or otherwise reacquired or redeemed or retired through the operation
thereof, (iii) impose conditions or restrictions upon the creation of
indebtedness of the Corporation or upon the issue of additional Preferred Stock
or other capital stock ranking equally therewith or prior thereto as to
dividends or distribution of assets on liquidation, and (iv) grant such other
special rights to the holders of Preferred Stock of such class or series as the
Board of Directors may determine and which are not inconsistent with the
provisions of this ARTICLE FOUR. The term "fix for such class or series" and
similar terms shall mean stated and expressed in a resolution or resolutions
adopted by the Board of Directors providing for the issue of Preferred Stock of
the class or series referred to therein. No further action or vote of the
stockholders shall be required for any action taken by the Board of Directors
pursuant to this ARTICLE FOUR.
COMMON STOCK
------------
1. DIVIDENDS.
---------
Subject to the preferred rights of the holders of shares of any
class or series of Preferred Stock as provided by the Board of Directors with
respect to any such class or series of Preferred Stock, the holders of the
Common Stock shall be entitled to receive, as and when declared by the Board of
Directors out of the funds of the Corporation legally available therefor, such
dividends (payable in cash, stock or otherwise) as the Board of Directors may
from time to time determine, payable to stockholders of record on such dates,
not exceeding sixty (60) days preceding the dividend payment dates, as shall be
fixed for such purpose by the Board of Directors in advance of payment of each
particular dividend.
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2. LIQUIDATION.
-----------
In the event of any liquidation, dissolution or winding up of the
Corporation, whether voluntary or involuntary, after the distribution or payment
to the holders of shares of any class or series of Preferred Stock as provided
by the Board of Directors with respect to any such class or series of Preferred
Stock, the remaining assets of the Corporation available for distribution to
stockholders shall be distributed among and paid to the holders of Common Stock
ratably in proportion to the number of shares of Common Stock held by them
respectively.
3. VOTING RIGHTS.
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Except as otherwise required by law or as provided by the Board of
Directors with respect to any class or series of Preferred Stock, the entire
voting power and all voting rights shall be vested exclusively in the Common
Stock. Each holder of shares of Common Stock shall be entitled to one vote for
each share standing in his name on the books of the Corporation.
ARTICLE FIVE
1. BOARD OF DIRECTORS.
------------------
The number of Directors shall initially be nine (9). Without
further action or vote of the stockholders, the Directors shall have the power
to increase the number of Directors to twelve (12) by majority vote. The
Directors shall be classified with respect to the time for which they shall
severally hold office into three classes, with each class having as nearly equal
number of Directors as possible. At each annual meeting of stockholders, the
successors to the Class of Directors whose term expires at that meeting shall be
elected to hold office for a term expiring at the annual meeting of stockholders
held in the third year following the year of their election and until their
successors have been duly elected and qualified. At each annual meeting of
stockholders at which a quorum is present, the persons receiving a plurality of
the votes cast shall be Directors. No Director or Class of Directors may be
removed from office by a vote of the stockholders at any time except for cause.
Election of Directors need not be by written ballot unless the By-Laws of the
Corporation so provide.
2. VACANCIES.
---------
Any vacancy on the Board of Directors resulting from death,
retirement, resignation, disqualification or removal from office or other cause,
as well as any vacancy resulting from an increase in the number of Directors
which occurs between annual meetings of the stockholders at which Directors are
elected, shall be filled only by a majority vote of the remaining Directors then
in office, though less than a quorum, except that those vacancies resulting from
removal from office by a vote of the stockholders may be filled by a vote of the
stockholders at the same meeting at which such removal occurs. The Directors
chosen to fill vacancies shall hold office for a term expiring at the end of the
next annual meeting of stockholders at which the term of the Class to which they
have been elected expires. No
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decrease in the number of Directors constituting the Board of Directors shall
shorten the term of any incumbent Director.
Notwithstanding the foregoing, whenever the holders of one or more
classes or series of Preferred Stock shall have the right, voting separately, as
a class or series, to elect Directors, the election, term of office, filling of
vacancies, removal and other features of such Directorships shall be governed by
the terms of the resolution or resolutions adopted by the Board of Directors
pursuant to ARTICLE FOUR applicable thereto, and each Director so elected shall
not be subject to the provisions of this ARTICLE FIVE unless otherwise provided
therein.
3. POWER TO MAKE, ALTER AND REPEAL BY-LAWS.
---------------------------------------
In furtherance and not in limitation of the powers conferred by
statute, the Board of Directors is expressly authorized to make, alter and
repeal the By-Laws of the Corporation.
4. AMENDMENT AND REPEAL OF ARTICLE FIVE.
------------------------------------
Notwithstanding any provision of this Amended and Restated
Certificate of Incorporation and of the By-Laws, and notwithstanding the fact
that a lesser percentage may be specified by Delaware law, unless such action
has been approved by a majority vote of the full Board of Directors, the
affirmative vote of sixty-six and two-thirds percent (66-2/3%) of the votes
which all stockholders of the then outstanding shares of capital stock of the
Corporation would be entitled to cast thereon, voting together as a single
class, shall be required to amend or repeal any provisions of this ARTICLE FIVE
or to adopt any provision inconsistent with this ARTICLE FIVE. In the event such
action has been previously approved by a majority vote of the full Board of
Directors, the affirmative vote of a majority of the outstanding stock entitled
to vote thereon shall be sufficient to amend or repeal any provision of this
ARTICLE FIVE or adopt any provision inconsistent with this ARTICLE FIVE.
ARTICLE SIX
The Corporation reserves the right to amend, alter, change or
repeal any provision in this Amended and Restated Certificate of Incorporation,
in the manner now or hereafter prescribed by statute.
ARTICLE SEVEN
No Director of the Corporation shall be liable to the Corporation
or its stockholders for monetary damages for breach of fiduciary duty as a
Director, except for liability (i) for any breach of the Director's duty of
loyalty to the Corporation or its stockholders, (ii) for acts or omissions not
in good faith or which involve intentional misconduct or a knowing violation of
law, (iii) under Section 174 of the Delaware General Corporation Law (the
"DGCL") or (iv) for any transaction from which the Director derived an improper
personal benefit.
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ARTICLE EIGHT
The Corporation shall, to the fullest extent permitted by Section
145 of the DGCL, as the same may be amended and supplemented, indemnify each
Director and officer of the Corporation from and against any and all of the
expenses, liabilities or other matters referred to in or covered by said Section
and the indemnification provided for herein shall not be deemed exclusive of any
other rights to which those indemnified may be entitled under any By-Law,
agreement, vote of stockholders, vote of disinterested Directors or otherwise,
and shall continue as to a person who has ceased to be a Director or officer and
shall inure to the benefit of the heirs, executors and administrators of such
persons and the Corporation may purchase and maintain insurance on behalf of any
Director or officer to the extent permitted by Section 145 of the DGCL.
ARTICLE NINE
Whenever a compromise or arrangement is proposed between this
Corporation and its creditors or any class of them and/or between this
Corporation and its stockholders or any class of them, any court of equitable
jurisdiction within the State of Delaware may, on the application in a summary
way of this Corporation or of any creditor or stockholder thereof or on the
application of any receiver or receivers appointed for this Corporation under
Section 291 of Title 8 of the Delaware Code or on the application of trustees in
dissolution or of any receiver or receivers appointed for this Corporation under
Section 279 of Title 8 of the Delaware Code order a meeting of the creditors or
class of creditors, and/or of the stockholders or class of stockholders of this
Corporation, as the case may be, to be summoned in such manner as the said court
directs. If a majority in number representing three-fourths in value of the
creditors or class of creditors, and/or of the stockholders or class of
stockholders of this Corporation, as the case may be, agree to any compromise or
arrangement and to any reorganization of this Corporation as consequence of such
compromise or arrangement, the said compromise or arrangement and the said
reorganization shall, if sanctioned by the court to which the said application
has been made, be binding on all the creditors or class of creditors, and/or on
all the stockholders or class of stockholders, of this Corporation, as the case
may be, and also on the Corporation.
ARTICLE TEN
BUSINESS COMBINATION.
---------------------
(A) SPECIAL VOTE BY STOCKHOLDERS. In addition to any affirmative
vote required by law or this Amended and Restated Certificate of Incorporation
or the Bylaws of the Corporation, and except as otherwise expressly provided in
Section 10(B) of this Amended and Restated Certificate of Incorporation, a
Business Combination (as hereinafter defined) with, or proposed by or on behalf
of, any Interested Stockholder (as hereinafter defined) or any Affiliate or
Associate (as hereinafter defined) of any Interested Stockholder or any person
who thereafter would be an Affiliate or Associate of such Interested Stockholder
shall require the affirmative vote of not less than seventy-five percent (75%)
of the votes entitled to be cast by the holders of all the then outstanding
shares of Voting Stock (as hereinafter defined), voting together as a single
class, excluding
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Voting Stock beneficially owned by such Interested Stockholder. Such affirmative
vote shall be required notwithstanding the fact that no vote may be required, or
that a lesser percentage or separate class vote may be specified, by law or in
any agreement with any national securities exchange or otherwise.
(B) REGULAR VOTE BY STOCKHOLDERS. The provisions of Section
10(A) of this Amended and Restated Certificate of Incorporation shall not be
applicable to any particular Business Combination, and such Business Combination
shall require only such affirmative vote, if any, as is required by law or by
any other provision of this Amended and Restated Certificate of Incorporation or
the Bylaws of the Corporation, or any agreement with any national securities
exchange, if the Business Combination shall have been approved either
specifically or as a transaction which is within an approved category of
transactions, by a majority (whether such approval is made prior to or
subsequent to the acquisition of, or announcement or public disclosure of the
intention to acquire, beneficial ownership of the Voting Stock that caused the
Interested Stockholder to become an Interested Stockholder) of the Continuing
Directors (as hereinafter defined).
(C) DEFINITIONS. The following definitions shall apply with
respect to this ARTICLE TEN:
(1) The term "Business Combination" shall mean: (i) any
merger or consolidation of the Corporation or any Subsidiary (as
hereinafter defined) with (x) any Interested Stockholder or (y) any
other corporation (whether or not itself an Interested Stockholder)
which is or after such merger or consolidation would be an Affiliate
or Associate of an Interested Stockholder; (ii) any sale, lease,
exchange, mortgage, pledge, transfer or other disposition or
security arrangement, investment, loan, advance, guarantee,
agreement to purchase, agreement to pay, extension of credit, joint
venture participation or other arrangement (in one transaction or a
series of transactions) with or for the benefit of any Interested
Stockholder or any Affiliate or Associate of any Interested
Stockholder which, together with all other such arrangements
(including all contemplated future events), has an aggregate Fair
Market Value and/or involves aggregate commitments of $500,000 or
more or constitutes more than ten percent (10%) of the book value of
the total assets (in the case of transactions involving assets or
commitments other than Capital Stock (as hereinafter defined)) or
ten percent (10%) of the stockholders' equity (in the case of
transactions in Capital Stock) of the entity in question (the
"Substantial Part"), as reflected in the most recent fiscal year-end
consolidated balance sheet of such entity existing at the time the
stockholders of the Corporation would be required to approve or
authorize the Business Combination involving the assets, securities
and/or commitments constituting any Substantial Part; (iii) the
adoption of any plan or proposal for the liquidation or dissolution
of the Corporation or for any amendment to the Corporation's Bylaws
or to this Amended and Restated Certificate of Incorporation
proposed by or on behalf of an Interested Stockholder or any
Affiliate or Associate of any Interested Stockholder; (iv) any
reclassification of securities (including any reverse stock split),
or recapitalization of the Corporation, or any merger or
consolidation of the Corporation with any of its Subsidiaries or any
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other transaction (whether or not with or otherwise involving an
Interested Stockholder) that has the effect, directly or indirectly,
of increasing the proportionate share of any class or series of
Capital Stock, or any securities convertible into Capital Stock or
into equity securities of any Subsidiary, that is beneficially owned
by any Interested Stockholder or any Affiliate or Associate of any
Interested Stockholder; or (v) any agreement, contract or other
arrangement providing for any one or more of the actions specified
in the foregoing clauses (i) to (iv).
(2) The term "Capital Stock" shall mean all Capital
Stock of the Corporation authorized to be issued from time to time
under ARTICLE FOUR of this Amended and Restated Certificate of
Incorporation, and the term "Voting Stock" shall mean all Capital
Stock which by its terms may be voted on all matters submitted to
stockholders of the Corporation generally.
(3) The term "person" shall mean any individual, firm,
corporation or other entity and shall include any group comprised of
any person and any other person with whom such person or any
Affiliate or Associate of such person has any agreement, arrangement
or understanding, directly or indirectly, for the purpose of
acquiring, holding, voting or disposing of Capital Stock.
(4) The term "Interested Stockholder" shall mean any
person (other than the Corporation or any Subsidiary and other than
any profit-sharing, employee stock ownership or other employee
benefit plan of the Corporation or any Subsidiary or any trustee of
or fiduciary with respect to any such plan when acting in such
capacity or any stockholder of the Corporation prior to the adoption
of this Amended and Restated Certificate of Incorporation) who (a)
is or has announced or publicly disclosed a plan or intention to
become the beneficial owner of Voting Stock representing ten percent
(10%) or more of the votes entitled to be cast by the holders of all
then outstanding shares of Voting Stock; or (b) is an Affiliate or
Associate (other than any stockholder prior to the adoption of this
Amended and Restated Certificate of Incorporation) of the
Corporation and at any time within the two-year period immediately
prior to the date in question was the beneficial owner of Voting
Stock representing ten percent (10%) or more of the votes entitled
to be cast by the holders of all then outstanding shares of Voting
Stock.
(5) A person shall be a "beneficial owner" of any
Capital Stock (a) which such person or any of its Affiliates or
Associates beneficially owns, directly or indirectly; (b) which such
person or any of its Affiliates or Associates has, directly or
indirectly, (i) the right to acquire (whether such right is
exercisable immediately or subject only to the passage of time)
pursuant to any agreement, arrangement or understanding or upon the
exercise of conversion rights, exchange rights, warrants or options,
or otherwise, or (ii) the right to vote pursuant to any agreement,
arrangement or understanding; or (c) which is beneficially owned,
directly or indirectly, by any other person with which such person
or any of its Affiliates or Associates has any agreement,
arrangement or understanding for the purpose of acquiring, holding,
voting or disposing of any shares of Capital Stock.
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For the purpose of determining whether a person is an Interested
Stockholder pursuant to Section 10(C)(4) of this Amended and
Restated Certificate of Incorporation, the number of shares of
Capital Stock deemed to be outstanding shall include shares deemed
beneficially owned by such person through application of this
Section 10(C)(5), but shall not include any other shares of Capital
Stock that may be issuable pursuant to any agreement, arrangement or
understanding, or upon exercise of conversion rights, warrants or
options, or otherwise.
(6) The terms "Affiliate" and "Associate" shall have the
respective meanings ascribed to such terms in Rule 12b-2 under the
Exchange Act as in effect on the date of filing of this Amended and
Restated Certificate of Incorporation with the Secretary of State of
the State of Delaware (the term "registrant" in said Rule 12b-2
meaning in this case the Corporation).
(7) The term "Subsidiary" means any company of which a
majority of any class of equity security is beneficially owned by
the Corporation; provided, however, that for purposes of the
definition of Interested Stockholder set forth in Section 10(C)(4)
of this Amended and Restated Certificate of Incorporation, the term
"Subsidiary" shall mean only a company of which a majority of each
class of equity security is beneficially owned by the Corporation.
(8) The term "Continuing Director" means any member of
the Board of Directors, while such person is a member of the Board
of Directors, who is not an Affiliate or Associate or representative
of the Interested Stockholder and was a member of the Board of
Directors prior to the time that an Interested Stockholder became an
Interested Stockholder, and any successor of a Continuing Director
while such successor is a member of the Board of Directors, who is
not an Affiliate or Associate or representative of the Interested
Stockholder and is recommended or elected to succeed the Continuing
Director by a majority of Continuing Directors.
(9) The term "Fair Market Value" means (a) in the case
of cash, the amount of such cash; (b) in the case of stock, the
highest closing sale price during the 30-day period immediately
preceding the date in question of a share of such stock on the
Composite Tape for New York Stock Exchange-Listed Stocks, or, if
such stock is not quoted on the Composite Tape, on the New York
Stock Exchange, or, if such stock is not listed on the New York
Stock Exchange, on the principal United States securities exchange
registered, or, if such stock is not listed on any such exchange,
the highest closing bid quotation with respect to a share of such
stock during the 30-day period preceding the date in question on the
National Association of Securities Dealers, Inc. Automated
Quotations Systems or any similar system then in use, or, if no such
quotations are available, the fair market value on the date in
question of a share of such stock as determined by a majority of the
Continuing Directors in good faith; and (c) in the case of property
other than cash or stock, the Fair Market Value of such property on
the date in question as determined in good faith by a majority of
the Continuing Directors.
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(D) AUTHORITY. A majority of the Continuing Directors shall have the
power and duty to determine for the purpose of this ARTICLE TEN, on the basis of
information known to them after reasonable inquiry, all questions arising under
this ARTICLE TEN, including, without limitation, (i) whether a person is an
Interested Stockholder, (ii) the number of shares of Capital Stock or other
securities beneficially owned by any person, (iii) whether a person is an
Affiliate or Associate of another, (iv) whether a Proposed Action (as
hereinafter defined) is with, or proposed by, or on behalf of an Interested
Stockholder or an Affiliate or Associate of an interested Stockholder, (v)
whether the assets that are the subject of any Business Combination have, or the
consideration to be received for the issuance or transfer of securities by the
Corporation or any Subsidiary in any Business Combination has, an aggregated
Fair Market Value of $500,000 or more and (vi) whether the assets or securities
that are the subject of any Business Combination constitute a Substantial Part.
Any such determination made in good faith shall be binding and conclusive on all
parties.
(E) FIDUCIARY OBLIGATION. Nothing contained in this ARTICLE TEN
shall be construed to relieve any Interested Stockholder from any fiduciary
obligation imposed by law.
(F) PROPOSED ACTION. For the purposes of this ARTICLE TEN, a
Business Combination or any proposal to amend, repeal or adopt any provision of
this Amended and Restated Certificate of Incorporation inconsistent with this
ARTICLE TEN (collectively, "Proposed Action") is presumed to have been proposed
by, or on behalf of, an Interested Stockholder or a person who thereafter would
become such if (i) after the Interested Stockholder became such, the Proposed
Action is proposed following the election of any director of the Corporation
who, with respect to such Interested Stockholder, would not qualify to serve as
a Continuing Director or (ii) such Interested Stockholder, Affiliate, Associate
or person votes for or consents to the adoption of any such Proposed Action,
unless as to such Interested Stockholder, Affiliate, Associate or person, a
majority of the Continuing Directors makes a good-faith determination that such
Proposed Action is not proposed by or on behalf of such Interested Stockholder,
Affiliate, Associate or person, based on information known to them after
reasonable inquiry.
(G) AMENDMENT. Notwithstanding any other provisions of this Amended
and Restated Certificate of Incorporation or the Bylaws of the Corporation (and
notwithstanding the fact that a lesser percentage or separate class vote may be
specified by law, this Amended and Restated Certificate of Incorporation or the
Bylaws of the Corporation), the affirmative vote of the holders of not less than
seventy-five percent (75%) of the votes entitled to be cast by the holders of
all the then outstanding shares of Voting Stock, voting together as a single
class, excluding Voting Stock beneficially owned by such Interested Stockholder,
shall be required to amend or repeal, or adopt any provisions inconsistent with,
this ARTICLE TEN; provided, however, that this Section 10(G) shall not apply to,
and such seventy-five percent (75%) vote shall not be required for, any
amendment, repeal or adoption unanimously recommended by the Board of Directors
if all of such directors are persons who would be eligible to serve as
Continuing Directors within the meaning of Section 10(C)(8) of this Amended and
Restated Certificate of Incorporation.
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I, J. Patrick Nicholson, being the Chairman of the Board, Chief
Executive Officer and President of the Corporation, do hereby declare and
certify that the foregoing Amended and Restated Amended and Restated Certificate
of Incorporation was duly adopted in accordance with DGCL Sections 103, 242 and
245, at the Annual Meeting of Stockholders of the Corporation held on June 2,
1998, and I further state that the execution of the Amended and Restated Amended
and Restated Certificate of Incorporation is my own act and deed and that the
facts herein stated are true, and accordingly I have hereunto set my hand this
17th day of June, 1998.
/s/ J. Patrick Nicholson
-------------------------------------
J. Patrick Nicholson, Chairman of the
Board, Chief Executive Officer and
President
ATTESTED BY:
/s/ James K. McHugh
- -------------------------------------
James K. McHugh, Chief Financial Officer,
Secretary and Treasurer
STATE OF OHIO )
) SS:
COUNTY OF LUCAS )
The foregoing Amended and Restated Amended and Restated Certificate
of Incorporation of N-Viro International Corporation was acknowledged before me
this 17th day of June, 1998 by J. Patrick Nicholson, Chairman of the Board,
Chief Executive Officer and President, on behalf of N-Viro International
Corporation, a Delaware corporation.
/s/ James D. O'Neil
-------------------------------------
Notary Public
My Commission Expires: June 11, 2000 [SEAL]
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