Exhibit 3.1
AMENDED
AND RESTATED
CERTIFICATE OF INCORPORATION
OF
LORAL SPACE & COMMUNICATIONS INC.
ARTICLE
I.
The
name of the corporation (the “Corporation”) is Loral Space & Communications Inc.
ARTICLE
II.
The
address of the registered office of the Corporation in the State of Delaware is: 1209 Orange Street, City of Wilmington, County
of New Castle, Delaware 19801. The name of the registered agent of the Corporation at such address is: The Corporation Trust
Company.
ARTICLE
III.
The
nature of the business or purposes to be conducted or promoted by the Corporation is to engage in any lawful act or activity for which
corporations may be organized under the General Corporation Law of the State of Delaware (the “DGCL”).
ARTICLE
IV.
The
total authorized capital stock of the Corporation shall be ONE HUNDRED (100) shares consisting of two classes: (i) NINETY FIVE (95)
shares of Common Stock, $0.01 par value per share (the “Common Stock”), and (ii) FIVE (5) shares of Preferred
Stock, $0.01 par value per share (the “Preferred Stock”).
(a) Common
Stock.
(i)
Each share of Voting Common Stock and each share of Non-Voting Common Stock shall be identical and treated equally in all respects
except that the Non-Voting Common Stock shall not have voting rights except as set forth in ARTICLE IV(a)(iv) and as otherwise
provided by law.
(ii)
Dividends. Subject to the preferences and other rights of the Preferred Stock, if any, the holders of Common Stock shall
be entitled to receive dividends when and as declared by the Board of Directors out of funds legally available therefor. Holders of shares
of Common Stock shall be entitled to share equally, share for share, in such dividends.
(iii)
Liquidation. Subject to the rights, powers and preferences of any outstanding Preferred Stock, in the event of any liquidation,
dissolution or winding up of the affairs of the Corporation, voluntary or involuntary, the assets of the Corporation available to stockholders
shall be distributed equally per share to the holders of Common Stock.
(iv)
Voting. Except as otherwise provided herein or by law, each holder of Voting Common Stock shall be entitled to one vote
in respect of each share of Voting Common Stock held of record on all matters submitted to a vote of stockholders. Except as otherwise
provided herein or by law, shares of Non-Voting Common Stock shall not have voting rights. ARTICLE IV(a) of this Amended
and Restated Certificate of Incorporation shall not be amended, altered or repealed without the affirmative vote of holders of a majority
of the outstanding shares of the Non-Voting Common Stock, voting as a separate class.
(b) Preferred
Stock.
(i)
As of the date of adoption of this Amended and Restated Certificate of Incorporation, the Corporation has issued and outstanding
five (5) shares of Series B Preferred Stock, par value $0.01 per share (the “Series B Preferred Stock”). Pursuant
to the authority conferred by this ARTICLE IV, the Series B Preferred Stock has been designated, with such series consisting
of such number of shares, with such voting powers and with such designations, preferences and relative, participating, optional or other
special rights, and qualifications, limitations or restrictions therefor as are stated and expressed in Exhibit A attached
hereto and incorporated herein by reference.
(ii)
Preferred Stock may be issued from time to time in one or more series, each of which series shall have such distinctive designation
or title and such number of shares as shall be fixed by the Board of Directors prior to the issuance of any shares thereof. Each such
series of Preferred Stock shall have such voting powers, full or limited, or no voting powers, and such preferences and relative, participating,
optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated and expressed in the
resolution or resolutions providing for the issuance of such series of Preferred Stock as may be adopted from time to time by the Board
of Directors prior to the issuance of any shares thereof pursuant to the authority hereby expressly vested in it. The Board of Directors
is further authorized to increase or decrease (but not below the number of shares outstanding) the number of shares of any series of
Preferred Stock subsequent to the issuance of shares of that series, except as otherwise provided in the resolution or resolutions of
the Board of Directors providing for the issuance of such series. In case the number of shares of any series shall be so decreased, the
shares constituting such decrease shall resume the status which they had prior to the adoption of the resolution originally fixing the
number of shares of such series. Except as provided in the resolution or resolutions of the Board of Directors or in any Certificate
of Designation or similar certificate creating any series of Preferred Stock or as otherwise provided herein, the shares of Common Stock
shall have the exclusive right to vote for the election and removal of directors and for all other purposes.
ARTICLE
V.
(a)
The Board of Directors shall have concurrent power with the stockholders to make, alter, amend, change, add to or repeal the Bylaws
of the Corporation (the “Bylaws”).
(b)
In addition to any affirmative vote of the holders of any particular class or series of the capital stock of the Corporation required
by law or by this Amended and Restated Certificate of Incorporation, the affirmative vote of the holders of not less than eighty percent
(80%) in voting power of the outstanding shares of the Corporation then entitled to vote upon the election of directors generally, voting
together as a single class, shall be required for (i) the alteration, amendment, or repeal of (x) Paragraphs (b) or (d) of ARTICLE
V of this Amended and Restated Certificate of Incorporation or (y) ARTICLE VI of this Amended and Restated Certificate
of Incorporation, or (ii) the alteration, amendment or repeal of the By-laws of the Corporation by the stockholders of the Corporation.
(c)
Meetings of stockholders may be held within or without the State of Delaware, as the Bylaws may provide. Voting at meetings of
stockholders need not be by written ballot. The books of the Corporation may be kept (subject to any provision contained in the statutes)
outside the State of Delaware at such place or places as may be designated from time to time by the Board of Directors or in the Bylaws.
Any action that is required or permitted to be taken by the stockholders of the Corporation at any annual or special meeting of stockholders
may be effected by written consent of stockholders in lieu of a meeting of stockholders.
(d)
For so long as the Corporation owns any shares of Space Systems/Loral, Inc., a Delaware corporation, directly or indirectly, the
Corporation shall not cause such shares to be voted in favor of any amendment to or modification of Section 3 of the Restated Certificate
of Incorporation of Space Systems/Loral, Inc.
ARTICLE
VI.
(a)
The Corporation shall indemnify to the fullest extent authorized or permitted under and in accordance with the laws of the State
of Delaware (as now or hereafter in effect) any person who was or is a party or is threatened to be made a party to any threatened, pending
or completed action, suit or proceeding, whether civil, criminal, administrative or investigative in nature (including any legislative
or self-regulatory proceeding), by reason of the fact that he or she is or was, or had agreed to become or is alleged to have been, a
director or officer of the Corporation, or, while a director or officer of the Corporation, is or was serving, or had agreed to serve
or is alleged to have served, at the request of or to further the interests of the Corporation as a director, officer, trustee, appointee,
designee, employee, manager, partner, or agent of or in any other capacity with another corporation or any limited liability company,
partnership, joint venture, trust or other enterprise, including any employee benefit plan of the Corporation or of any of its affiliates
and any charitable or not-for-profit enterprise (any such person being sometimes referred to hereafter as an “Indemnitee”),
or by reason of any action taken or omitted or alleged to have been taken or omitted by an Indemnitee in any such capacity, against expenses
(including court costs and attorneys’ fees), judgments, damages, fines, penalties, amounts paid in settlement and other liabilities
actually and reasonably incurred by him or her or on his or her behalf in connection with such action, suit or proceeding and any appeal
therefrom. In case any action, suit or proceeding shall be brought against any Indemnitee, such Indemnitee shall notify the Corporation
of the commencement thereof, and the Corporation shall be entitled to participate therein and, to the extent that it shall wish, to assume
the defense thereof. The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner
he or she reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal action
or proceeding, that such person had reasonable cause to believe that his or her conduct was unlawful. With respect to service by an Indemnitee
on behalf of any employee benefit plan of the Corporation or any of its affiliates, action in good faith in what the Indemnitee reasonably
believed to be the best interest of the beneficiaries of the plan shall be considered to be in or not opposed to the best interests of
the Corporation. The Corporation shall indemnify an Indemnitee for expenses (including attorneys’ fees) reasonably incurred by
the Indemnitee in connection with a proceeding successfully establishing his or her right to indemnification, in whole or in part, pursuant
to this ARTICLE VI. However, notwithstanding anything to the contrary in this ARTICLE VI, the Corporation
shall not be required to indemnify an Indemnitee against expenses incurred in connection with a proceeding (or part thereof) initiated
by the Indemnitee against the Corporation (other than as contemplated by the immediately preceding sentence) or any other person who
is an Indemnitee unless the initiation of the proceeding was approved by the Board of Directors of the Corporation.
(b)
Expenses (including any attorneys’ fees) reasonably incurred in investigating, defending or responding to any civil or criminal
action, suit, proceeding or investigation in which a current or former director or officer of the Corporation has been named as a defendant,
respondent or target, and any appeal therefrom, shall be paid by the Corporation in advance of the final disposition of such action,
suit or proceeding upon receipt of an undertaking by or on behalf of the current or former director or officer of the Corporation to
repay such amount if it shall ultimately be determined that he or she is not entitled to be indemnified by the Corporation as authorized
in this ARTICLE VI. Such undertaking shall be accepted by the Corporation without reference to the financial ability
of the current or former director or officer of the Corporation to make such repayment.
(c)
This indemnification and other rights set forth in this ARTICLE VI shall not be exclusive of any other rights
to which an Indemnitee seeking indemnification or advancement of expenses may be entitled under any law (common or statutory), contract,
agreement, bylaws, vote of stockholders or action of the Board of Directors or otherwise, both as to action in his or her official capacity
and as to action in any other capacity while holding office for the Corporation, and nothing contained in this ARTICLE
VI shall be deemed to prohibit the Corporation from entering into agreements with officers and directors providing indemnification
rights and procedures different from those set forth in this ARTICLE VI.
(d)
The right to indemnification and advancement of expenses provided by this ARTICLE VI shall continue as to any
person who formerly was an officer or director of the Corporation in respect of acts or omissions occurring or alleged to have occurred
while he or she was an officer or director of the Corporation and shall inure to the benefit of the estate, heirs, executors and administrators
of the Indemnitees. Unless otherwise required by law, the burden of proving that the Indemnitee is not entitled to indemnification or
advancement of expenses under this ARTICLE VI shall be on the Corporation. The right of an Indemnitee to indemnification
or advances as granted by this ARTICLE VI shall be a contractual obligation of the Corporation and, as such, shall
be enforceable by the Indemnitee in any court of competent jurisdiction.
(e)
In addition to indemnification by the Corporation of current and former officers and directors and advancement of expenses by
the Corporation to current and former officers and directors as provided for by the foregoing provisions of this ARTICLE
VI, the Corporation may, in a manner and to the fullest extent permitted by law, indemnify current and former employees, agents and
other persons serving the Corporation and advance expenses to current and former employees, agents and other persons serving the Corporation,
in each case as may be authorized by the Board of Directors, and any rights to indemnity or advancement of expenses granted to such persons
may be equivalent to, or greater or less than, those provided to directors, officers and employees by this ARTICLE VI.
(f)
The Corporation may purchase and maintain insurance, at its expense, to protect itself and any current or former director, officer,
employee or agent of the Corporation or of another corporation or a limited liability company, partnership, joint venture, trust or other
enterprise (including any employee benefit plan) in which the Corporation has an interest against any expense, liability or loss incurred
by the Corporation or such person in his or her capacity as such, or arising out of his or her status as such, whether or not the Corporation
would have the power to or is obligated to indemnify such person against such expense, liability or loss. The indemnification and reimbursement
of expenses so provided by this ARTICLE VI shall not be available to the extent that indemnification or reimbursement
has been received by such director or officer under any applicable policy of insurance or otherwise.
(g)
No amendment, termination or repeal of this ARTICLE VI or the adoption of any provision of this Amended and
Restated Certificate of Incorporation inconsistent with this ARTICLE VI, shall eliminate or reduce the effect of this
ARTICLE VI, in respect of any actions, transactions, facts or matter occurring before such amendment, repeal or adoption
of an inconsistent provision or in respect of any cause of action, suit, claim, proceeding or investigation arising out of or relating
to any actions, transactions, facts or matter which would have given rise to a right of indemnification or right to receive expenses
pursuant to this ARTICLE VI, if such provision had not been so amended, terminated or repealed or if a provision inconsistent
therewith had not been so adopted.
(h)
A director shall have no personal liability to the Corporation or its stockholders for monetary damages for breach of fiduciary
duty as a director, except for (i) any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) acts
or omissions not in good faith or which involve intentional misconduct or a knowing violation of law by the director, (iii) liability
under Section 174 of the DGCL or (iv) any transaction from which the director derived an improper personal benefit. If the DGCL is hereafter
amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director
shall be eliminated or limited to the full extent permitted by the DGCL, as so amended. Any repeal or modification of this ARTICLE
VI shall not adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification
with respect to an act or omission of such director occurring prior to such repeal or modification.
(i)
Notwithstanding anything to the contrary set forth in this ARTICLE VI, and except as provided in clause (iv)
below and as provided in the Stipulation and Agreement Among the Debtors and Their Directors and Officers in Respect of Certain Indemnification
Claims in In re Loral Space & Communications Ltd. et al., Case Nos. 03-41710 (RDD), 03-41709 (RDD) through 03-41728 (RDD)
in the United States Bankruptcy Court for the Southern District of New York, (i) for the purposes of this ARTICLE VI,
the term “Corporation” shall not include Loral Space & Communications Ltd., a Bermuda company, or any direct or indirect
subsidiary thereof that at the time was not or that is not a direct or indirect subsidiary of the Corporation (collectively, “Old
Loral”), and the Corporation shall not have obligations pursuant to this ARTICLE VI solely by virtue of
any assertion by any person, entity or governmental authority or any determination by a court of competent jurisdiction, that it is a
successor to Old Loral or any other entity; (ii) the Corporation may, but shall not be required to, indemnify any director or officer
of Old Loral, or any person who was serving, or had agreed to serve or is alleged to have served, at the request of or to further the
interests of Old Loral as a director, officer, trustee, appointee, designee, employee, manager, partner, or agent of or in any other
capacity with another corporation or any limited liability company, partnership, joint venture, trust or other enterprise, including
any employee benefit plan of Old Loral or of any of its affiliates and any charitable or not-for-profit enterprise, except as specifically
set forth in that certain Fourth Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code, dated as of June 3, 2005
of Loral Space & Communications Ltd. and its subsidiaries that are a party thereto (as the same may be amended from time to time,
the “Plan”); (iii) the Corporation may, but shall not be required to, indemnify any Indemnitee with respect to any
events or circumstances occurring prior to the filing of a voluntary petition for relief under Chapter 11 of the Bankruptcy Code on July
11, 2003 by Loral Space & Communications Ltd. and its subsidiaries that are a party thereto, except as specifically set forth in
the Plan; and (iv) the Corporation shall indemnify and hold harmless each Indemnitee from and against and for any and all obligations
incurred directly or indirectly by Old Loral with respect to any taxes owed by Old Loral or the Debtors (as defined in the Plan) for
the period prior to the Effective Date (as defined in the Plan), including interest and penalties, to any governmental entity and as
to which Old Loral or the Debtors are the primary obligor(s), to the full extent provided in Paragraphs (a) through (h) of this ARTICLE
VI.
