BY-LAWS
OF
8x8, Inc.
ARTICLE I
CORPORATE OFFICES
1.1
REGISTERED OFFICE
The registered office of the corporation shall be in the City of Wilmington, County of New Castle, State of Delaware. The name of the
registered agent of the corporation at such location is The Corporation Trust Company.
1.2
OTHER OFFICES
The Board of Directors may at any time establish other offices at any place or places where the corporation is qualified to do
business.
ARTICLE II
MEETINGS OF STOCKHOLDERS
2.1
PLACE OF MEETINGS
Meetings of stockholders shall be held at any place, within or outside the State of Delaware, designated by the Board of Directors. In
the absence of any such designation, stockholders' meetings shall be held at the registered office of the corporation.
2.2
ANNUAL MEETING
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The annual meeting of stockholders shall be held each year on a date and at a time designated by the Board of Directors. At the meeting,
directors shall be elected and any other proper business may be transacted.
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At an annual meeting of the stockholders, only such business shall be conducted as shall have been properly brought before the meeting.
To be properly brought before an annual meeting, business must be: (A) specified in the notice of meeting (or any supplement thereto)
given by or at the direction of the Board of Directors, (B) otherwise properly brought before the meeting by or at the direction of the
Board of Directors, or (C) otherwise properly brought before the meeting by a stockholder. For business to be properly brought before an
annual meeting by a stockholder, the stockholder must have given timely notice thereof in writing to the Secretary of the corporation. To be
timely, such stockholder's notice must be delivered to or mailed and received by the Secretary of the corporation not less than ninety (90) days
prior to the meeting; provided, however, that in the event that less than one-hundred (100) days notice or prior public disclosure of the date of
the meeting is given or made to stockholders, notice by the stockholder to be timely must be so received not later than the close of business
on the tenth day following the day on which such notice of the date of the meeting was mailed or such public disclosure was made. A
stockholder's notice to the Secretary shall set forth as to each matter the stockholder proposes to bring before the annual meeting: (i) a
brief description of the business desired to be brought before the annual meeting and the reasons for conducting such business at the annual
meeting, (ii) the name and address, as they appear on the corporation's books, of the stockholder proposing such business,
(iii) the class and number of shares of the corporation which are beneficially owned by the stockholder, (iv) any material interest of
the stockholder in such business and (v) any other information that is required to be provided by
the stockholder pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended (the "1934 Act"), in such stockholder's capacity as a proponent to a stockholder
proposal. Notwithstanding the foregoing, in order to include information with respect to a stockholder proposal in the proxy statement and form
of proxy for a stockholder's meeting, stockholders must provide notice as required by the regulations promulgated under the 1934 Act.
Notwithstanding anything in these Bylaws to the contrary, no business shall be conducted at any annual meeting except in accordance with the
procedures set forth in this paragraph (b). The chairman of the annual meeting shall, if the facts warrant, determine and declare at the
meeting that business was not properly brought before the meeting and in accordance with the provisions of this paragraph (b), and, if
he should so determine, he shall so declare at the meeting that any such business not properly brought before the meeting shall not be
transacted.
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Only persons who are nominated in accordance with the procedures set forth in this paragraph (c) shall be eligible for election as
Directors. Nominations of persons for election to the Board of Directors of the corporation may be made at a meeting of stockholders by or at
the direction of the Board of Directors or by any stockholder of the corporation entitled to vote in the election of Directors at the meeting who
complies with the notice procedures set forth in this paragraph (c). Such nominations, other than those made by or at the direction of the
Board of Directors, shall be made pursuant to timely notice in writing to the Secretary of the corporation in accordance with the provisions of
paragraph (b) of this Section 2.2. Such stockholder's notice shall set forth (i) as to each person, if any, whom the
stockholder proposes to nominate for election or reelection as a Director: (A) the name, age, business address and residence address of
such person, (B) the principal occupation or employment of such person, (C) the class and number of shares of the corporation
which are beneficially owned by such person, (D) a description of all arrangements or understandings between the stockholder and each
nominee and any other person or persons (naming such person or persons) pursuant to which the nominations are to be made by the
stockholder, and (E) any other information relating to such person that is required to be disclosed in solicitations of proxies for elections
of Directors, or is otherwise required, in each case pursuant to Regulation 14A under the 1934 Act (including without limitation such person's
written consent to being named in the proxy statement, if any, as a nominee and to serving as a Director if elected); and (ii) as to such
stockholder giving notice, the information required to be provided pursuant to paragraph (b) of this Section 2.2. At the request of
the Board of Directors, any person nominated by a stockholder for election as a Director shall furnish to the Secretary of the corporation that
information required to be set forth in the stockholder's notice of nomination which pertains to the nominee. No person shall be eligible for
election as a Director of the corporation unless nominated in accordance with the procedures set forth in this paragraph (c). The
chairman of the meeting shall, if the facts warrant, determine and declare at the meeting that a nomination was not made in accordance with
the procedures prescribed by these Bylaws, and if he should so determine, he shall so declare at the meeting, and the defective nomination
shall be disregarded.
2.3
SPECIAL MEETING
A special meeting of the stockholders may be called at any time by the Board, the Chairman of the Board, chief executive officer or
by stockholders holding shares representing in the aggregate a majority of votes then outstanding.
If a special meeting is called by any person or persons other than the Board of Directors, the request shall be in writing, specifying the time
of such meeting and the general nature of the business proposed to be transacted, and shall be delivered personally or sent by registered mail
or by telegraphic or other facsimile transmission to the Chairman of the Board, Chief Executive Officer, or the Secretary of the corporation. No
business may be transacted at such special meeting except for such business as may properly be brought before the stockholders and that is
specified in such notice. The officer receiving the request shall cause notice to be promptly given to the stockholders entitled to vote, in
accordance with the provisions of Sections 2.4 and 2.5, that a meeting will be held at the time requested by the person or persons who
called the meeting, not less than thirty-five (35) nor more than sixty (60) days after the receipt of the request. If the notice is not given within
twenty (20) days after the receipt of the request, the person or persons requesting the meeting may give the notice. Nothing contained in this
paragraph of this Section 2.3 shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action
of the Board of Directors may be held.
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2.4
NOTICE OF STOCKHOLDERS' MEETINGS
Except as set forth in Section 2.3, all notices of meetings of stockholders shall be in writing and sent or otherwise given in
accordance with Section 2.5 of these bylaws not less than ten (10) nor more than sixty (60) days before the date of the meeting. The
notice shall specify the place, date, and hour of the meeting and (i) in the case of a special meeting, the general nature of the business
to be transacted (no business other than that specified in the notice may be transacted) or (ii) in the case of the annual meeting, those
matters which the Board of Directors, at the time of giving the notice, intends to present for action by the stockholders (but any proper matter
may be presented at the meeting for such action). The notice of any meeting at which directors are to be elected shall include the name of any
nominee or nominees who, at the time of the notice, the board intends to present for election.
2.5
MANNER OF GIVING NOTICE; AFFIDAVIT OF NOTICE
Written notice of any meeting of stockholders shall be given either personally or by first-class mail or by facsimile, telegraphic or other
written communication. Notices not personally delivered shall be sent charges prepaid and shall be addressed to the stockholder at the
address of that stockholder appearing on the books of the corporation or given by the shareholder to the corporation for the purpose of notice.
If no such address appears on the corporation's books or is given, notice shall be deemed to have been given if sent to that stockholder by
mail or telegraphic or other written communication to the corporation's principal executive office, or if published at least once in a newspaper of
general circulation in the county where that office is located. Notice shall be deemed to have been given at the time when delivered personally
or deposited in the mail or sent by telegram or other means of written communication.
If any notice addressed to a stockholder at the address of that stockholder appearing on the books of the corporation is returned to the
corporation by the United States Postal Service marked to indicate that the United States Postal Service is unable to deliver the notice to the
stockholder at that address, then all future notices or reports shall be deemed to have been duly given without further mailing if the same shall
be available to the stockholder on written demand of the stockholder at the principal executive office of the corporation for a period of one (1)
year from the date of the giving of the notice.
An affidavit of the mailing or other means of giving any notice of any stockholders' meeting, executed by the Secretary, Assistant Secretary
or any transfer agent of the corporation giving the notice, shall be prima facie evidence of the giving of such notice.
2.6
QUORUM
The holders of a majority of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy,
shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute, by the
certificate of incorporation. If, however, such quorum is not present or represented at any meeting of the stockholders, then either (i) the
Chairman of the meeting or (ii) the stockholders entitled to vote thereat, present in person or represented by proxy, shall have power to
adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present or represented. At
such adjourned meeting at which a quorum is present or represented, any business may be transacted that might have been transacted at the
meeting as originally noticed.
2.7
ADJOURNED MEETING; NOTICE
When a meeting is adjourned to another time or place, unless these by-laws otherwise require, notice need not be given of the
adjourned meeting if the time and place thereof are announced at the meeting at which the adjournment is taken. At the adjourned meeting the
corporation may transact any business that might have been transacted at the original meeting. If the adjournment is for more than thirty (30)
days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each
stockholder of record entitled to vote at the meeting.
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2.8
CONDUCT OF BUSINESS
The chairman of any meeting of stockholders shall determine the order of business and the procedure at the meeting, including such
regulation of the manner of voting and the conduct of business.
2.9
VOTING
The stockholders entitled to vote at any meeting of stockholders shall be determined in accordance with the provisions of
Section 2.12 of these by-laws, subject to the provisions of Sections 217 and 218 of the General Corporation Law of Delaware
(relating to voting rights of fiduciaries, pledgors and joint owners of stock and to voting trusts and other voting agreements).
Except as may be otherwise provided in the certificate of incorporation, each stockholder shall be entitled to one vote for each share of
capital stock held by such stockholder.
2.10
WAIVER OF NOTICE
Whenever notice is required to be given under any provision of the General Corporation Law of Delaware or of the certificate of
incorporation or these by-laws, a written waiver thereof, signed by the person entitled to notice, whether before or after the time stated therein,
shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the
person attends a meeting for the express purpose of 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 regular or special meeting of the
stockholders need be specified in any written waiver of notice unless so required by the certificate of incorporation or these by-laws.
2.11
STOCKHOLDER ACTION BY WRITTEN CONSENT WITHOUT A MEETING
Unless otherwise provided in the certificate of incorporation, any action required by this chapter to be taken at any annual or special
meeting of stockholders of a corporation, or any action that may be taken at any annual or special meeting of such stockholders, may be taken
without a meeting, without prior notice, and without a vote if a consent in writing, setting forth the action so taken, is signed by the holders of
outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at
which all shares entitled to vote thereon were present and voted.
Prompt notice of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those
stockholders who have not consented in writing. If the action which is consented to is such as would have required the filing of a certificate
under any section of the General Corporation Law of Delaware if such action had been voted on by stockholders at a meeting thereof, then the
certificate filed under such section shall state, in lieu of any statement required by such section concerning any vote of stockholders, that
written notice and written consent have been given as provided in Section 228 of the General Corporation Law of Delaware.
2.12
RECORD DATE FOR STOCKHOLDER NOTICE; VOTING; GIVING CONSENTS
In order that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any
adjournment thereof, or entitled to express consent to corporate action in writing without a meeting, or entitled to receive payment of any
dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of
stock or 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
(60) nor less than ten (10) days before the date of such meeting, nor more than sixty (60) days prior to any other action.
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If the Board of Directors does not so fix a record date:
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The record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders 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.
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The record date for determining stockholders 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 on which the first written consent is expressed.
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The record date for determining stockholders 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 stockholders of record entitled to notice of or to vote at a meeting of stockholders 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.
2.13
PROXIES
Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to corporate action in writing without a
meeting may authorize another person or persons to act for such stockholder by a written proxy, signed by the stockholder and filed with the
Secretary of the corporation, but no such proxy shall be voted or acted upon after three (3) years from its date, unless the proxy provides for a
longer period. A proxy shall be deemed signed if the stockholder's name is placed on the proxy (whether by manual signature, typewriting,
telegraphic transmission or otherwise) by the stockholder or the stockholder's attorney-in-fact. The revocability of a proxy that states on its face
that it is irrevocable shall be governed by the provisions of Section 212(e) of the General Corporation Law of Delaware.
2.14
LIST OF STOCKHOLDERS ENTITLED TO VOTE
The officer who has charge of the stock ledger of a corporation shall prepare and make, at least ten (10) days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of
each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any
stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the
meeting, either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not
so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during
the whole time thereof, and may be inspected by any stockholder who is present. Such list shall presumptively determine the identity of the
stockholders entitled to vote at the meeting and the number of shares held by each of them.
ARTICLE III
DIRECTORS
3.1
POWERS
Subject to the provisions of the General Corporation Law of Delaware and any limitations in the certificate of incorporation or these
by-laws relating to action required to be approved by the stockholders or by the outstanding shares, the business and affairs of the corporation
shall be managed and all corporate powers shall be exercised by or under the direction of the Board of Directors.
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3.2
NUMBER OF DIRECTORS
The number of directors which constitute the whole Board of Directors shall be fixed exclusively by one or more resolutions adopted
from time to time by the Board of Directors.
No reduction of the authorized number of directors shall have the effect of removing any director before that director's term of office
expires.
3.3
ELECTION, QUALIFICATION AND TERM OF OFFICE OF DIRECTORS
Except as provided in Section 3.4 of these by-laws, the certificate of incorporation, directors shall be elected at each annual
meeting of stockholders to hold office until the next annual meeting. Directors need not be stockholders unless so required by the certificate of
incorporation or these by-laws, wherein other qualifications for directors may be prescribed. Each director, including a director elected to fill a
vacancy, shall hold office until his or her successor is elected and qualified or until his or her earlier resignation or removal.
Elections of directors need not be by written ballot.
3.4
RESIGNATION AND VACANCIES
Any director may resign at any time upon written notice to the attention of the Secretary of the corporation. Subject to the provisions
of the certificate of incorporation, when one or more directors so resigns and the resignation is effective at a future date, a majority of the
directors then in office, including those who have so resigned, shall have power to fill such vacancy or vacancies, the vote thereon to take
effect when such resignation or resignations shall become effective, and each director so chosen shall hold office as provided in this section in
the filling of other vacancies.
Unless otherwise provided in the certificate of incorporation or these by-laws;
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Vacancies and newly created directorships resulting from any increase in the authorized number of directors elected by all of the
stockholders having the right to vote as a single class may be filled by a majority of the directors then in office, although less than a quorum, or
by a sole remaining director.
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Whenever the holders of any class or classes of stock or series thereof are entitled to elect one or more directors by the provisions of the
certificate of incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the
directors elected by such class or classes or series thereof then in office, or by a sole remaining director so elected.
If at any time, by reason of death or resignation or other cause, the corporation should have no directors in office, then any officer or any
stockholder or an executor, administrator, trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the
person or estate of a stockholder, may call a special meeting of stockholders in accordance with the provisions of the certificate of
incorporation or these by-laws, or may apply to the Court of Chancery for a decree summarily ordering an election as provided in
Section 211 of the General Corporation Law of Delaware.
If, at the time of filling any vacancy or any newly created directorship, the directors then in office constitute less than a majority of the
whole board (as constituted immediately prior to any such increase), then the Court of Chancery may, upon application of any stockholder or
stockholders holding at least ten (10) percent of the total number of the shares at the time outstanding having the right to vote for such
directors, summarily order an election to be held to fill any such vacancies or newly created directorships, or to replace the directors chosen by
the directors then in office as aforesaid, which election shall be governed by the provisions of Section 211 of the General Corporation
Law of Delaware as far as applicable.
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3.5
PLACE OF MEETINGS; MEETINGS BY TELEPHONE
The Board of Directors of the corporation may hold meetings, both regular and special, either within or outside the State of
Delaware.
Unless otherwise restricted by the certificate of incorporation or these by-laws, members of the Board of Directors, or any committee
designated by the Board of Directors, may participate in a meeting of the Board of Directors, or any committee, by means of conference
telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and such
participation in a meeting shall constitute presence in person at the meeting.
3.6
REGULAR MEETINGS
Regular meetings of the Board of Directors may be held without notice at such time and at such place as shall from time to time be
determined by the board.
3.7
SPECIAL MEETINGS; NOTICE
Special meetings of the Board of Directors for any purpose or purposes may be called at any time by the Chairman of the Board, the
Chief Executive Officer, the Secretary or any one director.
Notice of the time and place of special meetings shall be delivered personally or by telephone to each director or sent by first-class mail or
telegram, charges prepaid, addressed to each director at that director's address as it is shown on the records of the corporation. If the notice is
mailed, it shall be deposited in the United States mail at least four (4) days before the time of the holding of the meeting. If the notice is
delivered personally or by telephone or by telegram, it shall be delivered personally or by telephone or to the telegraph company at least
forty-eight (48) hours before the time of the holding of the meeting. Any oral notice given personally or by telephone may be communicated either to
the director or to a person at the office of the director who the person giving the notice has reason to believe will promptly communicate it to
the director. The notice need not specify the purpose or the place of the meeting, if the meeting is to be held at the principal executive office of
the corporation.
3.8
QUORUM
At all meetings of the Board of Directors, a majority of the authorized number of directors shall constitute a quorum for the transaction
of business and the act of a majority of the directors present at any meeting at which there is a quorum shall be the act of the Board of
Directors, except as may be otherwise specifically provided by statute or by the certificate of incorporation. If a quorum is not present at any
meeting of the Board of Directors, then the directors present thereat may adjourn the meeting from time to time, without notice other than
announcement at the meeting, until a quorum is present.
A meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of directors, if any action
taken is approved by at least a majority of the required quorum for that meeting.
3.9
WAIVER OF NOTICE
Whenever notice is required to be given under any provision of the General Corporation Law of Delaware or of the certificate of
incorporation or these by-laws, a written waiver thereof, signed by the person entitled to notice, whether before or after the time stated therein,
shall be deemed equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the
person attends a meeting for the express purpose of 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 regular or special meeting of the
directors, or members of a committee of directors, need be specified in any written waiver of notice unless so required by the certificate of
incorporation or these by-laws.
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3.10
BOARD ACTION BY WRITTEN CONSENT WITHOUT A MEETING
Unless otherwise restricted by the certificate of incorporation or these by-laws, any action required or permitted to be taken at any
meeting of the Board of Directors, or of any committee thereof, may be taken without a meeting if all members of the board or committee, as
the case may be, consent thereto in writing and the writing or writings are filed with the minutes of proceedings of the board or committee.
3.11
FEES AND COMPENSATION OF DIRECTORS
Unless otherwise restricted by the certificate of incorporation or these by-laws, the Board of Directors shall have the authority to fix
the compensation of directors.
3.12
APPROVAL OF LOANS TO OFFICERS
The corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the
corporation or of its subsidiary, including any officer or employee who is a director of the corporation or its subsidiary, whenever, in the
judgment of the directors, such loan, guaranty or assistance may reasonably be expected to benefit the corporation. The loan, guaranty or
other assistance may be with or without interest and may be unsecured, or secured in such manner as the Board of Directors shall approve,
including, without limitation, a pledge of shares of stock of the corporation. Nothing in this section contained shall be deemed to deny, limit or
restrict the powers of guaranty or warranty of the corporation at common law or under any statute.
3.13
REMOVAL OF DIRECTORS
Unless otherwise restricted by statute, and except as otherwise provided by the certificate of incorporation or these by-laws, any
director or the entire Board of Directors may be removed, with or without cause, by the holders of a majority of the shares then entitled to vote
at an election of directors; provided, however, that, so long as stockholders of the corporation are entitled to cumulative voting, if less than the
entire board is to be removed, no director may be removed without cause if the votes cast against his or her removal would be sufficient to
elect such director if then cumulatively voted at an election of the entire Board of Directors.
No reduction of the authorized number of directors shall have the effect of removing any director prior to the expiration of such director's
term of office.
ARTICLE IV
COMMITTEES
4.1
COMMITTEES OF DIRECTORS
The Board of Directors may, by resolution passed by a majority of the whole board, designate one or more committees, with each
committee to consist of one or more of the directors of the corporation. The board may designate one or more directors as alternate members
of any committee, who may replace any absent or disqualified member at any meeting of the committee. In the absence or disqualification of a
member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such
member or members constitute 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. Any such committee, to the extent provided in the resolution of the Board of Directors or in
the by-laws of the corporation, shall have and may exercise all the powers and authority of the Board of Directors in the management of the
business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers that may require it; but no such
committee shall have the power or authority to (i) amend the certificate of incorporation (except that a committee may, to the extent
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authorized in the resolution or resolutions providing for the issuance of shares of stock adopted by the Board of Directors as provided in
Section 151(a) of the General Corporation Law of Delaware, fix the designations and any of the preferences or rights of such shares
relating to dividends, redemption, dissolution, any distribution of assets of the corporation or the conversion into, or the exchange of such
shares for, shares of any other class or classes or any other series of the same or any other class or classes of stock of the corporation or fix
the number of shares of any series of stock or authorize the increase or decrease of the shares of any series), (ii) adopt an agreement of
merger or consolidation under Sections 251 or 252 of the General Corporation Law of Delaware, (iii) recommend to the
stockholders the sale, lease or exchange of all or substantially all of the corporation's property and assets, (iv) recommend to the
stockholders a dissolution of the corporation or a revocation of a dissolution, or (v) amend the bylaws of the corporation; and, unless the
board resolution establishing the committee, the by-laws or the certificate of incorporation expressly so provide, no such committee shall have
the power or authority to declare a dividend, to authorize the issuance of stock, or to adopt a certificate of ownership and merger pursuant to
Section 253 of the General Corporation Law of Delaware.
4.2
COMMITTEE MINUTES
Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors when required.
4.3
MEETINGS AND ACTION OF COMMITTEES
Meetings and actions of committees shall be governed by, and held and taken in accordance with, the provisions of Article III of
these by-laws, Section 3.5 (place of meetings and meetings by telephone), Section 3.6 (regular meetings), Section 3.7
(special meetings and notice), Section 3.8 (quorum), Section 3.9 (waiver of notice), and Section 3.10 (action without a
meeting), with such changes in the context of those by-laws as are necessary to substitute the committee and its members for the Board of
Directors and its members; provided, however, that the time of regular meetings of committees may be determined either by resolution of the
Board of Directors or by resolution of the committee, that special meetings of committees may also be called by resolution of the Board of
Directors and that notice of special meetings of committees shall also be given to all alternate members, who shall have the right to attend all
meetings of the committee. The Board of Directors may adopt rules for the government of any committee not inconsistent with the provisions of
these by-laws.
ARTICLE V
OFFICERS
5.1
OFFICERS
The officers of the corporation shall be a chief executive officer, a secretary, and a chief financial officer. The corporation may also
have, at the discretion of the Board of Directors, a chairman of the board, one or more vice presidents, one or more assistant vice presidents,
one or more assistant secretaries, one or more assistant treasurers, and any such other officers as may be appointed in accordance with the
provisions of Section 5.3 of these by-laws. Any number of offices may be held by the same person.
5.2
APPOINTMENT OF OFFICERS
The officers of the corporation, except such officers as may be appointed in accordance with the provisions of Sections 5.3 or
5.5 of these by-laws, shall be appointed by the Board of Directors, subject to the rights, if any, of an officer under any contract of
employment.
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5.3
SUBORDINATE OFFICERS
The Board of Directors may appoint, or empower the Chief Executive Officer of the corporation to appoint, such other officers and
agents as the business of the corporation may require, each of whom shall hold office for such period, have such authority, and perform such
duties as are provided in these by-laws or as the Board of Directors may from time to time determine.
5.4
REMOVAL AND RESIGNATION OF OFFICERS
Subject to the rights, if any, of an officer under any contract of employment, any officer may be removed, either with or without cause,
by an affirmative vote of the majority of the Board of Directors at any regular or special meeting of the board or, except in the case of an officer
chosen by the Board of Directors, by any officer upon whom such power of removal may be conferred by the Board of Directors.
Any officer may resign at any time by giving written notice to the corporation. Any resignation shall take effect at the date of the receipt of
that notice or at any later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation shall not
be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the corporation under any contract to which the
officer is a party.
5.5
VACANCIES IN OFFICES
Any vacancy occurring in any office of the corporation shall be filled by the Board of Directors.
5.6
CHAIRMAN OF THE BOARD
The Chairman of the Board, if such an officer be elected and unless otherwise designated by the Board of Directors, shall, if present,
preside at meetings of the Board of Directors. In addition, such officer shall exercise and perform such other powers and duties as may from
time to time be assigned to him by the Board of Directors or as may be prescribed by these by-laws. If so designated by the Board of Directors,
then the Chairman of the Board shall also be the Chief Executive Officer of the corporation and shall have the powers and duties prescribed in
Section 5.7 of these by-laws.
5.7
CHIEF EXECUTIVE OFFICER
Subject to such powers and duties, if any, as may be given by the Board of Directors to the Chairman of the Board or any vice
chairman, if there be such an officer, the Chief Executive Officer of the corporation shall, subject to the control of the Board of Directors, have
general supervision, direction, and control of the business and the officers of the corporation. The Chief Executive Officer shall preside at all
meetings of the stockholders and, in the absence or nonexistence of a Chairman of the Board or if otherwise designated by the Board of
Directors, at all meetings of the Board of Directors. The Chief Executive Officer shall have the general powers and duties of management
usually vested in the office of the chief executive officer of a corporation and shall have such other powers and duties as may be prescribed by
the Board of Directors or these by-laws.
5.8
VICE PRESIDENTS
In the absence or disability of the Chairman of the Board, any vice chairman and the Chief Executive Officer, the Vice Presidents, if
any, designated by the Board of Directors, in order of their rank as fixed by the Board of Directors or, if not ranked, a vice president designated
by the Board of Directors, shall perform all the duties of the chief executive officer and when so acting shall have all the powers of, and be
subject to all the restrictions upon, the chief executive officer. The designated vice presidents, if any, shall have such other powers and
perform such other duties as from time to time may be prescribed for them respectively by the Board of Directors, these by-laws, the Chief
Executive Officer or the Chairman of the Board.
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5.9
SECRETARY
The Secretary shall keep or cause to be kept, at the principal executive office of the corporation or such other place as the Board of
Directors may direct, a book of minutes of all meetings and actions of directors, committees of directors, and stockholders. The minutes shall
show the time and place of each meeting, whether regular or special (and, if special, how authorized and the notice given), the names of those
present at directors' meetings or committee meetings, the number of shares present or represented at stockholders' meetings, and the
proceedings thereof.
The Secretary shall keep, or cause to be kept, at the principal executive office of the corporation or at the office of the corporation's
transfer agent or registrar, as determined by resolution of the Board of Directors, a share register, or a duplicate share register, showing the
names of all stockholders and their addresses, the number and classes of shares held by each, the number and date of certificates evidencing
such shares, and the number and date of cancellation of every certificate surrendered for cancellation.
The Secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the Board of Directors required to be given
by law or by these by-laws. The Secretary shall keep the seal of the corporation, if one be adopted, in safe custody and shall have such other
powers and perform such other duties as may be prescribed by the Board of Directors or by these by-laws.
5.10
CHIEF FINANCIAL OFFICER
The Chief Financial Officer shall keep and maintain, or cause to be kept and maintained, adequate and correct books and records of
accounts of the properties and business transactions of the corporation, including accounts of its assets, liabilities, receipts, disbursements,
gains, losses, capital retained earnings, and shares. The books of account shall at all reasonable times be open to inspection by any
director.
The Chief Financial Officer shall deposit all moneys and other valuables in the name and to the credit of the corporation with such
depositories as may be designated by the Board of Directors. The Chief Financial Officer shall disburse the funds of the corporation as may be
ordered by the Board of Directors, shall render to the Chief Executive Officer and directors, whenever they request it, an account of all his or
her transactions as Chief Financial Officer and of the financial condition of the corporation, and shall have other powers and perform such
other duties as may be prescribed by the Board of Directors or these by-laws.
The Chief Financial Officer shall be the Treasurer of the corporation unless otherwise designated by the Board of Directors.
5.11
ASSISTANT SECRETARY
The Assistant Secretary, or, if there is more than one, the Assistant Secretaries in the order determined by the stockholders or Board
of Directors (or if there be no such determination, then in the order of their election) shall, in the absence of the Secretary or in the event of his
or her inability or refusal to act, perform the duties and exercise the powers of the secretary and shall perform such other duties and have such
other powers as may be prescribed by the Board of Directors or these by-laws.
5.12
ASSISTANT TREASURER
The Assistant Treasurer, or, if there is more than one, the Assistant Treasurers, in the order determined by the stockholders or Board
of Directors (or if there be no such determination, then in the order of their election), shall, in the absence of the Chief Financial Officer or in the
event of his or her inability or refusal to act, perform the duties and exercise the powers of the Chief Financial Officer and shall perform such
other duties and have such other powers as may be prescribed by the Board of Directors or these by-laws.
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5.13
REPRESENTATION OF SHARES OF OTHER CORPORATIONS
The Chairman of the Board, the Chief Executive Officer, the Chief Financial Officer, the Secretary or Assistant Secretary of this
corporation, or any other person authorized by the Board of Directors or the Chief Executive Officer or a vice president, is authorized to vote,
represent, and exercise on behalf of this corporation all rights incident to any and all shares of any other corporation or corporations standing
in the name of this corporation. The authority granted herein may be exercised either by such person directly or by any other person
authorized to do so by proxy or power of attorney duly executed by such person having the authority.
5.14
AUTHORITY AND DUTIES OF OFFICERS
In addition to the foregoing authority and duties, all officers of the corporation shall respectively have such authority and perform such
duties in the management of the business of the corporation as may be designated from time to time by the Board of Directors or the
stockholders.
ARTICLE VI
INDEMNITY
6.1
INDEMNIFICATION OF DIRECTORS AND OFFICERS
The corporation shall, to the maximum extent and in the manner permitted by the General Corporation Law of Delaware, indemnify
each of its directors and officers against expenses (including attorneys' fees), judgments, fines, settlements, and other amounts actually and
reasonably incurred in connection with any proceeding, arising by reason of the fact that such person is or was an agent of the corporation. For
purposes of this Section 6.1, a "director" or "officer" of the corporation includes any person (i) who is or was a director or officer of
the corporation, (ii) who is or was serving at the request of the corporation as a director or officer of another corporation partnership, joint
venture, trust or other enterprise, or (iii) who was a director or officer of a corporation that was a predecessor corporation of the
corporation or of another enterprise at the request of such predecessor corporation.
6.2
INDEMNIFICATION OF OTHERS
The corporation shall have the power, to the extent and in the manner permitted by the General Corporation Law of Delaware, to
indemnify each of its employees and agents (other than directors and officers) against expenses (including attorney's fees), judgments, fines,
settlements, and other amounts actually and reasonably incurred in connection with any proceeding arising by reason of the fact that such
person is or was an agent of the corporation. For purposes of this Section 6.2, an "employee" or "agent" of the corporation (other than a
director or officer) includes any person (i) who is or was an employee or agent of the corporation, (ii) who is or was serving at the
request of the corporation as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or
(iii) who was an employee or agent of a corporation which was a predecessor corporation of the corporation or of another enterprise at
the request of such predecessor corporation.
6.3
INSURANCE
The corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of
the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise against any liability asserted against him and incurred by him in any such capacity, or arising
out of his status as such, whether or not the corporation would have the power to indemnify him against such liability under the provisions of
the General Corporation Law of Delaware.
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ARTICLE VII
RECORDS AND REPORTS
7.1
MAINTENANCE AND INSPECTION OF RECORDS
The corporation shall, either at its principal executive officer or at such place or places as designated by the Board of Directors, keep
a record of its stockholders listing their names and addresses and the number and class of shares held by each stockholder, a copy of these
by- laws as amended to date, accounting books, and other records.
Any stockholder of record, in person or by attorney or other agent, shall, upon written demand under oath stating the purpose thereof,
have the right during the usual hours for business to inspect for any proper purpose the corporation's stock ledger, a list of its stockholders,
and its other books and records and to make copies or extracts therefrom. A proper purpose shall mean a purpose reasonably related to such
person's interest as a stockholder. In every instance where an attorney or other agent is the person who seeks the right to inspection, the
demand under oath shall be accompanied by a power of attorney or such other writing that authorizes the attorney or other agent so to act on
behalf of the stockholder. The demand under oath shall be directed to the corporation at its registered office in Delaware or at its principal
place of business.
The officer who has charge of the stock ledger of the corporation shall prepare and make, at least ten (10) days before every meeting of
stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, showing the address of each
stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any
stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the
meeting, either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not
so specified, at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during
the whole time thereof, and may be inspected by any stockholder who is present.
7.2
INSPECTION BY DIRECTORS
Any director shall have the right to examine the corporation's stock ledger, a list of its stockholders, and its other books and records
for a purpose reasonably related to his position as a director. The Court of Chancery is hereby vested with the exclusive jurisdiction to
determine whether a director is entitled to the inspection sought. The Court may summarily order the corporation to permit the director to
inspect any and all books and records, the stock ledger, and the stock list and to make copies or extracts therefrom. The Court may, in its
discretion, prescribe any limitations or conditions with reference to the inspection, or award such other and further relief as the Court may
deem just and proper.
7.3
ANNUAL STATEMENT TO STOCKHOLDERS
The Board of Directors shall present at each annual meeting, and at any special meeting of the stockholders when called for by vote
of the stockholders, a full and clear statement of the business and condition of the corporation.
ARTICLE VIII
GENERAL MATTERS
8.1
CHECKS
From time to time, the Board of Directors shall determine by resolution which person or persons may sign or endorse all checks,
drafts, other orders for payment of money, notes or other evidences of indebtedness that are issued in the name of or payable to the
corporation, and only the persons so authorized shall sign or endorse those instruments.
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8.2
EXECUTION OF CORPORATE CONTRACTS AND INSTRUMENTS
The Board of Directors, except as otherwise provided in these by-laws, may authorize any officer or officers, or agent or agents, to
enter into any contract or execute any instrument in the name of and on behalf of the corporation; such authority may be general or confined to
specific instances. Unless so authorized or ratified by the Board of Directors or within the agency power ofan officer, no officer, agent or
employee shall have any power or authority to bind the corporation by any contract or engagement or to pledge its credit or to render it liable
for any purpose or for any amount.
8.3
STOCK CERTIFICATES; PARTLY PAID SHARES
The shares of the corporation shall be represented by certificates, provided that the Board of Directors of the corporation may provide
by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares and that the corporation
may issue uncertificated shares upon the transfer of certificated shares unless otherwise requested by the transferee of such shares. Any such
resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the corporation. Notwithstanding the
adoption of such a resolution by the Board of Directors, every holder of stock represented by certificates and upon request every holder of
uncertificated shares shall be entitled to have a certificate signed by, or in the name of the corporation by the Chairman or Vice-Chairman of
the Board of Directors, or the Chief Executive Officer or Vice-President, and by the Chief Financial Officer or an assistant treasurer, or the
Secretary or an assistant secretary of such corporation representing the number of shares registered in certificate form. Any or all of the
signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or whose facsimile signature
has been placed upon a certificate has 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 the person were such officer, transfer agent or registrar at the date of issue.
The corporation may issue the whole or any part of its shares as partly paid and subject to call for the remainder of the consideration to be
paid therefor. Upon the face or back of each stock certificate issued to represent any such partly paid shares, or upon the books and records of
the corporation in the case of uncertificated partly paid shares, the total amount of the consideration to be paid therefor and the amount paid
thereon shall be stated. Upon the declaration of any dividend on fully paid shares, the corporation shall declare a dividend upon partly paid
shares of the same class, but only upon the basis of the percentage of the consideration actually paid thereon.
8.4
SPECIAL DESIGNATION ON CERTIFICATES
If the corporation is authorized to issue more than one class of stock or more than one series of any class, then the powers, the
designations, the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or back of the
certificate that the corporation shall issue to represent such class or series of stock; provided, however, that, except as otherwise provided in
Section 202 of the General Corporation Law of Delaware, in lieu of the foregoing requirements there may be set forth on the face or
back of the certificate that the corporation shall issue to represent such class or series of stock, and in the case of uncertificated shares issued
by the corporation, there shall be provided to the holder thereof a notice in accordance with Section 151(f) of the Delaware General
Corporation Law that contains, a statement that the corporation will furnish without charge to each stockholder who so requests the powers,
the designations, the preferences, and the relative, participating, optional or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights.
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8.5
LOST CERTIFICATES
Except as provided in this Section 8.5, no new certificates for shares shall be issued to replace a previously issued certificate
unless the latter is surrendered to the corporation and canceled at the same time. The corporation may issue a new certificate of stock or
uncertificated shares in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the corporation
may require the owner of the lost, stolen or destroyed certificate, or the owner's legal representative, to give the corporation a bond sufficient to
indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the
issuance of such new certificate or uncertificated shares.
8.6
CONSTRUCTION; DEFINITIONS
Unless the context requires otherwise, the general provisions, rules of construction, and definitions in the Delaware General
Corporation Law shall govern the construction of these by-laws. Without limiting the generality of this provision, the singular number includes
the plural, the plural number includes the singular, and the term "person" includes both a corporation and a natural person.
8.7
DIVIDENDS
The directors of the corporation, subject to any restrictions contained in (i) the General Corporation Law of Delaware or
(ii) the certificate of incorporation, may declare and pay dividends upon the shares of its capital stock. Dividends may be paid in cash, in
property, or in shares of the corporation's capital stock.
The directors of the corporation may set apart out of any of the funds of the corporation available for dividends a reserve or reserves for
any proper purpose and may abolish any such reserve. Such purposes shall include but not be limited to equalizing dividends, repairing or
maintaining any property of the corporation, and meeting contingencies.
8.8
FISCAL YEAR
The fiscal year of the corporation shall be fixed by resolution of the Board of Directors and may be changed by the Board of
Directors.
8.9
SEAL
The corporation may adopt a corporate seal, which shall be adopted and which may be altered by the Board of Directors, and may
use the same by causing it or a facsimile thereof to be impressed or affixed or in any other manner reproduced.
8.10
TRANSFER OF STOCK
Upon surrender to the corporation or the transfer agent of the corporation of a certificate for shares duly endorsed or accompanied by
proper evidence of succession, assignation or authority to transfer, it shall be the duty of the corporation upon proper request to issue a new
certificate or uncertificated shares, as the case may be, to the person entitled thereto, cancel the old certificate, and record the transaction in
its books. In connection with a request for the transfer of uncertificated shares, the corporation shall comply, or shall cause the transfer agent
of the corporation to comply, with the registration provisions of Part 4 of Article 8 of the Delaware Uniform Commercial Code.
8.11
STOCK TRANSFER AGREEMENTS
The corporation shall have power to enter into and perform any agreement with any number of stockholders of any one or more
classes of stock of the corporation to restrict the transfer of shares of stock of the corporation of any one or more classes owned by such
stockholders in any manner not prohibited by the General Corporation Law of Delaware.
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8.12
REGISTERED STOCKHOLDERS
The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive
dividends and to vote as such owner, shall be entitled to hold liable for calls and assessments the person registered on its books as the owner
of shares, and shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of another person,
whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Delaware.
ARTICLE IX
AMENDMENTS
Subject to any voting requirements set forth in the corporation's certificate of incorporation, the by-laws of the corporation may be
adopted, amended or repealed by the stockholders entitled to vote; provided, however, that the corporation may, in its certificate of
incorporation, confer the power to adopt, amend or repeal by-laws upon the directors. The fact that such power has been so conferred upon
the directors shall not divest the stockholders of the power, nor limit their power to adopt, amend or repeal by-laws.
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