Exhibit 3.1.B
RESTATED CERTIFICATE OF INCORPORATION
of
SCHERING-PLOUGH CORPORATION
Schering-Plough Corporation, a corporation organized and existing under the laws of the State
of New Jersey (the Corporation), restates and integrates its Restated Certificate of
Incorporation, as heretofore amended and also substantively amends such Restated Certificate of
Incorporation, to read in full as herein set forth:
ARTICLE I: NAME
The name of the Corporation shall be Merck & Co., Inc.
ARTICLE II: REGISTERED OFFICE AND AGENT
The address of the Corporations current registered office is 2000 Galloping Hill Road,
Kenilworth, New Jersey 07033 and the name of its current registered agent thereat is Susan Ellen
Wolf. Upon the filing of this Restated Certificate of Incorporation, the address of the
Corporations registered office shall be 820 Bear Tavern Road, City of West Trenton, County of
Mercer, State of New Jersey, 08628, and the name of its registered agent thereat shall be The
Corporation Trust Company.
ARTICLE III: OBJECTS AND PURPOSES
The objects and purposes of the Corporation shall be:
To carry on the business of exercising, performing, developing, manufacturing, producing,
obtaining, promoting, selling and distributing rights, services, goods, wares, and merchandise of
all kinds, including but not by way of limitation, those in the chemical, mineral, pharmaceutical,
biological, medicinal, agricultural, mechanical and electrical fields;
To carry on such business alone, in, with or as agent for other individuals, partnerships,
joint ventures, corporations, syndicates or other forms of enterprise;
To borrow or lend money and to make guarantees insofar as such powers may now or hereafter be
lawfully exercised by a corporation subject to Title 14A of the New Jersey statutes; and
To engage in any other activity within the purposes for which corporations may be organized
under the New Jersey Business Corporation Act.
The enumeration herein of the objects and purposes of the Corporation shall be construed as
powers as well as objects and purposes and shall not be deemed to exclude by inference any powers,
objects or purposes which any corporation subject to Title 14A of the New Jersey statutes may now
or hereafter be empowered to exercise.
ARTICLE IV: CAPITAL STOCK
The amount of the total authorized capital stock of the Corporation shall be 6,520,000,000
shares, consisting of (i) 6,500,000,000 shares of Common Stock, par value $0.50 per share, and
(ii) 20,000,000 shares of Preferred Stock, par value $1.00 per share, issuable in one or more
series.
The Board of Directors may from time to time offer for subscription or otherwise issue or sell
any or all of the unissued stock of any class, or any shares of stock of any class which may be
held in the treasury of the Corporation, to such persons, firms or corporations and for such
consideration (so far as may be permitted by the laws of the State of New Jersey) as it shall from
time to time in its absolute discretion determine. No holder of capital stock shall have any
pre-emptive right as such holder to subscribe for, purchase or receive any part of any new or
additional issue of stock of any class, including unissued and treasury stock, or obligations or
other securities convertible into or exchangeable for stock of any class, or warrants or other
instruments evidencing rights or options to subscribe for, purchase or receive any stock of any
class, whether now or hereafter authorized and whether issued for cash or other consideration or by
way of dividend.
The preferences, qualifications, limitations, voting and other rights and restrictions with
respect to the capital stock of the Corporation shall be as follows (headings are for convenience
only and are not to be taken as aids to interpretation):
(A) Preferred Stock
1. The Board of Directors of the Corporation is hereby expressly granted authority, subject to
the provisions of this Restated Certificate of Incorporation, to authorize in accordance with New
Jersey law from time to time the issue of one of more series of Preferred Stock and with respect to
any such series to fix the numbers, designations, rights, preferences and limitations of such
series, including, but without limiting the generality of the foregoing, series of Preferred Stock:
(a) entitling the holders thereof to cumulative, non-cumulative or partial cumulative
dividends, or to no dividends;
(b) entitling the holders thereof to receive dividends payable on a parity with, or in
preference to, the dividends payable on any other class or series of capital stock of the
Corporation;
(c) entitling the holders thereof to preferential rights upon the liquidation of, or upon any
distribution of the assets of, the Corporation;
(d) convertible, at the option of the holder or of the Corporation or both, into shares of any
other class or classes of capital stock of the Corporation or of any series of the same or any
other class or classes;
(e) redeemable, in whole or in part, at the option of the Corporation, in cash, bonds or other
property, at such price or prices, within such period or periods, and under such conditions
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as the Board of Directors shall so provide, including provision for the creation of a sinking
fund for the redemption thereof; and
(f) lacking voting rights or having limited voting rights or enjoying special or multiple
voting rights; provided, however, that no Preferred Stock that is convertible into shares of Common
Stock shall have voting rights entitling a holder of a share of Preferred Stock to a greater number
of votes than those applicable to the number of Common Shares into which such share of Preferred
Stock is convertible, at the initial conversion rate set for such Preferred Stock at the time of
issuance thereof.
The Board of Directors may change the designation, rights, preferences, limitations, description
and terms of, and number of shares in, any series as to which no shares have theretofore been
issued.
All shares of any one series shall be identical in all respects with all the other shares of
such series, except that shares of any one series issued at different times may differ as to the
dates from which dividends thereon shall be cumulative.
2. Shares of any series of Preferred Stock which have been redeemed (whether through the
operation of a sinking fund or otherwise) or purchased by the Corporation, or which, if
convertible, have been converted into shares of the Corporation of any other class or classes,
shall have the status of authorized and unissued shares of Preferred Stock which are not classified
into any series.
3. A series of Preferred Stock has been designated the 6.00% Mandatory Convertible Preferred
Stock with such series consisting of the number of shares, with such designations, voting powers,
preferences, rights, qualifications, limitations and restrictions as are stated in Annex A attached
hereto and incorporated herein by reference, as adjusted in accordance with the terms of such Annex
A to reflect the merger of Blue Inc. with and into the Corporation pursuant to the terms of the
Agreement and Plan of Merger, dated March 8, 2009.
(B) Common Stock
Subject to the preferences, qualifications, limitations, voting and other rights and
restrictions with respect to each class of the capital stock of the Corporation having any
preference or priority over the Common Stock, the holders of the Common Stock shall have and
possess all rights appertaining to capital stock of the Corporation.
With respect to each matter submitted to a vote of the stockholders, each holder of Common
Stock shall be entitled to one vote for each share of Common Stock standing in such holders name
on the books of the Corporation. There shall be no cumulative voting. At each election of
directors, a nominee for election as a director shall be elected to the Board of Directors if the
number of votes cast for such nominees election exceeds the number of votes cast against such
nominees election; provided that, if at any election of directors, the number of nominees for
election as directors exceeds the number of directors to be elected, directors shall be elected by
a plurality of the votes cast at such election of directors.
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Any of the following actions may be taken by the affirmative vote of a majority of the votes
cast by the holders of shares of the Corporation entitled to vote thereon: (1) the adoption by the
stockholders of a proposed amendment of this Restated Certificate of Incorporation; (2) the
approval by the stockholders of a proposed plan of merger or consolidation; (3) the approval by the
stockholders of a sale, lease, exchange, or other disposition of all, or substantially all, the
assets of the Corporation, if not in the usual and regular course of business as conducted by the
Corporation; (4) the approval by the stockholders of a proposed plan of exchange; or (5) the
approval by the stockholders of a proposed dissolution.
Optional rights to purchase shares of Common Stock may be granted, on such terms, at such
price, in such manner and at such time or times as may be expressed in a resolution or resolutions
adopted by the Board of Directors, and warrants or other evidence of such optional rights may be
issued.
The Corporation shall not be required to issue any fraction of a share of Common Stock of the
Corporation.
ARTICLE V: BY-LAWS
The Board of Directors shall have power to make, alter and repeal By-Laws; but By-Laws made by
the directors may be altered or repealed by the stockholders. Notwithstanding anything contained in
this Restated Certificate of Incorporation or the By-Laws of the Corporation to the contrary (and
notwithstanding that a lesser percentage may be specified by law or the By-Laws), Article II of the
By-Laws shall not be altered, amended or repealed by the Board of Directors and no provision
inconsistent therewith shall be adopted by the Board of Directors without the affirmative vote of a
majority of the entire Board of Directors.
ARTICLE VI: DIRECTORS
Subject to the rights of holders of any one or more series of Preferred Stock issued by the
Corporation, the number of directors of the Corporation shall be such number, not less than three
nor more than eighteen, as may, from time to time, be determined in accordance with the By-Laws.
The By-Laws shall prescribe the manner in which the number of directors necessary to constitute a
quorum of the Board of Directors shall be determined, which number may be less than a majority of
the whole Board of Directors. The By-Laws shall also prescribe the manner in which the retirement
age of and other restrictions and qualifications for directors of the Corporation shall be
determined. Advance notice of nomination by a stockholder for the election of directors shall be
made in the manner provided in the By-Laws.
At each annual meeting of stockholders, the directors shall be elected for terms expiring at
the next annual meeting of stockholders. Any vacancies in the Board of Directors, by reason of an
increase in the number of directors or otherwise, shall be filled solely by the Board of Directors,
by majority vote of the directors then in office, though less than a quorum, but any such director
so elected shall hold office only until the next succeeding annual meeting of stockholders. At such
annual meeting, such director or a successor to such director shall be elected and qualified. No
decrease in the number of directors shall shorten the term of any incumbent director.
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Any director may be removed from office as a director by the affirmative vote of the
stockholders but only for cause.
The Board of Directors, by vote of a majority of the whole Board, may appoint from the
directors an executive committee and such other committees as they may deem judicious; and to such
extent as shall be provided in the resolution of the Board or in the By-Laws, may delegate to such
committees all or any of the authority of the Board of Directors which may be lawfully delegated,
and such committees shall have and thereupon may exercise all or any of the authority so delegated
to them. The Board of Directors of the Corporation or the By-Laws may provide the number of members
necessary to constitute a quorum of any committee and the number of affirmative votes necessary for
action by any committee.
Any officer and any employee elected or appointed by the Board of Directors may be removed
(except from the office of director) at any time by a vote of a majority of the whole Board of
Directors. Any other employee of the Corporation may be removed at any time by vote of the Board of
Directors or by any committee or officer or employee upon whom such power of removal may be
conferred by the By-Laws or by vote of the Board of Directors.
The Board of Directors shall from time to time determine whether and to what extent and at
what times and places and under what conditions and regulations the accounts, books and records of
the Corporation or any of them shall be open to the inspection of the stockholders; and no
stockholder shall have any right of inspecting any account or book or document or record of the
Corporation except as conferred by statute or authorized by the Board of Directors or by a
resolution of the stockholders.
No contract or other transaction of the Corporation shall be affected by the fact that any of
the directors of the Corporation are in any way interested in or connected with any other party to
such contract or transaction, or are themselves parties to such contract or transaction, provided
that at the meeting of the Board of Directors or of the committee thereof authorizing or confirming
such contract or transaction there shall be present a quorum of directors not so interested or
connected, and such contract or transaction shall be approved by a majority of such quorum, which
majority shall consist of directors not so interested or connected.
Notwithstanding the foregoing, whenever the holders of any one or more series of Preferred
Stock issued by the Corporation, pursuant to Article IV hereof, shall have the right, voting
separately as a class or by series, to elect directors at an annual or special meeting of
stockholders, the election, term of office, filling of vacancies and other features of such
directorships shall be governed by the terms of the series of Preferred Stock applicable thereto.
ARTICLE VII: DURATION
The duration of the Corporation shall be perpetual.
ARTICLE VIII: AMENDMENTS
The Corporation reserves the right to amend, alter, change or repeal any of the provisions
contained in this Restated Certificate of Incorporation in the manner now or hereafter prescribed
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by law, and all rights conferred on officers, directors and/or stockholders herein are granted
subject to this reservation.
ARTICLE IX: STOCKHOLDER ACTION
Any action required or permitted to be taken by the stockholders of the Corporation must be
effected at a duly called annual or special meeting of such stockholders and may not be effected by
any consent in writing by such stockholders.
ARTICLE X: PURCHASES OF STOCK OF THE CORPORATION
(A) Except as otherwise expressly provided in this Article X, the Corporation may not purchase
any shares of Common Stock at a per-share price in excess of the Fair Market Price (as hereinafter
defined) as of the time of such purchase from a person known by the Corporation to be a Substantial
Stockholder (as hereinafter defined), unless such purchase has been approved by the affirmative
vote of the holders of at least two-thirds of the shares of Common Stock voted thereon held by
Disinterested Stockholders (as hereinafter defined). Such affirmative vote shall be required
notwithstanding the fact that no vote may be required or that a lesser percentage may be specified
by law, in this Restated Certificate of Incorporation or in any agreement with any national
securities exchange or otherwise.
(B) The provisions of this Article X shall not apply to (1) any purchase pursuant to an offer
to purchase which is made on the same terms and conditions to the holders of all of the outstanding
shares of Common Stock or (2) any open market purchase that constitutes a Public Transaction (as
hereinafter defined).
(C) For the purposes of this Article X:
1. Person shall mean any individual, firm, trust, partnership, association, corporation or
other entity.
2. Substantial Stockholder shall mean any person (other than any employee benefit plan or
trust of the Corporation or any similar entity) who or which:
(a) is the beneficial owner of more than 5% of the combined voting power of the then
outstanding Common Stock, the acquisition of any shares of which has occurred within the two-year
period immediately prior to the date on which the Corporation purchases any such shares; or
(b) is an assignee of or has otherwise succeeded to the beneficial ownership of any shares of
Common Stock beneficially owned by a Substantial Stockholder, unless such assignment or succession
shall have occurred pursuant to a Public Transaction or any series of transactions involving a
Public Transaction and, with respect to all shares of Common Stock owned by such person, has been
the beneficial owner of any such shares for a period of less than two years (including, for these
purposes, the holding period of the Substantial Stockholder from whom such person acquired shares).
For the purposes of determining whether a person is a Substantial Stockholder, the number of
shares of Common Stock deemed to be outstanding shall include shares deemed
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owned through application of subparagraph 4 below but shall not include any other shares of
Common Stock which may be issuable pursuant to any agreement, arrangement or understanding, or upon
exercise of conversion rights, warrants or options, or otherwise.
3. Public Transaction shall mean any (a) purchase of shares offered pursuant to an effective
registration statement under the Securities Act of 1933 or (b) open market purchase of shares on a
national securities exchange if, in either such case, the price and other terms of sale are not
negotiated by the purchaser and the seller of the beneficial interest in the shares.
4. A person shall be a beneficial owner of any Common Stock:
(a) which such person or any of its Affiliates or Associates beneficially owns, directly or
indirectly; or
(b) which such person or any of its Affiliates or Associates has (i) the right to acquire
(whether such right is exercisable immediately or only after 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 or to direct the voting thereof
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 Common Stock.
5. Affiliate and Associate shall have the respective meanings ascribed to such terms in
Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934, as in
effect on January 1, 1985.
6. Disinterested Stockholders shall mean those holders of Common Stock who are not
Substantial Stockholders.
7. Fair Market Price shall mean the highest closing sale price on the Composite Tape for New
York Stock Exchange-Listed Stocks during the 30-day period immediately preceding the date in
question of a share of Common Stock 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 such Exchange, the fair market value on
the date in question of a share of such stock as determined by a majority of the Board of Directors
in good faith.
(D) A majority of the Board of Directors shall have the power and duty to determine for the
purposes of this Article X, on the basis of information known to them after reasonable inquiry, all
facts necessary to determine compliance with this Article X, including without limitation, (1)
whether a person is a Substantial Stockholder, (2) the number of shares of Common Stock
beneficially owned by any person, (3) whether a person is an Affiliate or Associate of another, (4)
whether a price is in excess of the Fair Market Price, (5) whether a purchase constitutes a Public
Transaction and (6) such other matters with respect to which a determination is required under this
Article X. The good faith determination of a majority of the
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Board of Directors on such matters shall be conclusive and binding for all purposes of this
Article X.
(E) Nothing contained in this Article X shall be construed to relieve a Substantial
Stockholder from any fiduciary obligation imposed by law.
ARTICLE XI: DIRECTOR AND OFFICER LIABILITY
To the fullest extent permitted by the laws of the State of New Jersey, as they exist or may
hereafter be amended, all current and former directors and officers of the Corporation shall not be
personally liable to the Corporation or its stockholders for damages for breach of any duty owed to
the Corporation or its stockholders, except that the provisions of this Article XI shall not
relieve a director or officer from liability for any breach of duty based upon an act or omission
(a) in breach of such persons duty of loyalty to the Corporation or its stockholders, (b) not in
good faith or involving a knowing violation of law or (c) resulting in receipt by such person of an
improper personal benefit.
ARTICLE XII: DIRECTORS
The number of directors constituting the current Board of Directors of the Corporation is
[___]. The names and addresses of said directors are as follows:
[TO LIST DIRECTORS AT CLOSING]
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