Amendment to Registration of Securities of a Small-Business Issuer — Form 10-SB Filing Table of Contents
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1: 10SB12G/A Amendment to Registration of Securities of a HTML 674K
Small-Business Issuer
24: CORRESP ¶ Comment-Response or Other Letter to the SEC HTML 127K
2: EX-2.2 Plan of Acquisition, Reorganization, Arrangement, HTML 37K
Liquidation or Succession
3: EX-3.2 Articles of Incorporation/Organization or By-Laws HTML 99K
4: EX-10.1 Material Contract HTML 31K
13: EX-10.10 Material Contract HTML 25K
14: EX-10.11 Material Contract HTML 20K
15: EX-10.12 Material Contract HTML 37K
16: EX-10.13 Material Contract HTML 20K
17: EX-10.14 Material Contract HTML 20K
18: EX-10.15 Material Contract HTML 20K
19: EX-10.16 Material Contract HTML 20K
20: EX-10.17 Material Contract HTML 20K
5: EX-10.2 Material Contract HTML 31K
6: EX-10.3 Material Contract HTML 63K
7: EX-10.4 Material Contract HTML 23K
8: EX-10.5 Material Contract HTML 23K
9: EX-10.6 Material Contract HTML 28K
10: EX-10.7 Material Contract HTML 21K
11: EX-10.8 Material Contract HTML 23K
12: EX-10.9 Material Contract HTML 22K
21: EX-14 Code of Ethics HTML 36K
22: EX-21 Subsidiaries HTML 11K
23: EX-23.1 Consent of Experts or Counsel HTML 8K
‘EX-3.2’ — Articles of Incorporation/Organization or By-Laws
1.1.Registered
Office.
The
registered office and registered agent of China Marketing Media Holdings, Inc.
(the “Corporation”) will be as from time to time set forth in the Corporation’s
Articles of Incorporation. The Corporation may change its registered office,
registered agent, or both by filing with the Secretary of State of the State
of
Texas, a Statement of Change of Registered Office or Registered
Agent.
1.2.Other
Offices.
The
Corporation may also have offices at such other places, both within and without
the State of Texas, as the Board of Directors may from time to time determine
or
the business of the Corporation may require.
ARTICLE
II
SHAREHOLDERS
2.1.Place
of Meetings.
All
meetings of the shareholders for the election of Directors will be held at
such
place, within or without the State of Texas, as may be fixed from time to time
by the Board of Directors. Meetings of shareholders for any other purpose may
be
held at such time and place, within or without the State of Texas, as may be
stated in the notice of the meeting or in a duly executed waiver of notice
thereof. The Board of Directors may determine that any meeting may be held
solely by means of remote communication in accordance with Texas
law.
2.2.Annual
Meeting.
An
annual meeting of the shareholders will be held at such time as may be
determined by the Board of Directors, at which meeting the shareholders will
elect a Board of Directors and transact such other business as may properly
be
brought before the meeting.
2.3.List
of Shareholders.
Not
later than the 11th
day
before the date of each meeting of shareholders, a complete list of the
shareholders entitled to vote at such meeting, arranged in alphabetical order,
with the address of and the number of voting shares registered in the name
of
each, will be prepared by the officer or agent having charge of the stock
transfer books. Such list will be kept on file at the registered office of
the
Corporation for a period of ten (10) days prior to such meeting and will be
subject to inspection by any shareholder at any time during usual business
hours. Alternatively, the list of the shareholders may be kept on a reasonably
accessible electronic network, if the information required to gain access to
the
list is provided with the notice of the meeting. This Section does not require
the Corporation to include any electronic contact information of any shareholder
on the list. If the Corporation elects to make the list available on an
electronic network, the Corporation shall take reasonable steps to ensure that
the information is available only to shareholders of the Corporation. Such
list
will be produced and kept open at the time and place of the meeting during
the
whole time thereof, and will be subject to the inspection of any shareholder
who
may be present. If the meeting is held by means of remote communication, the
list must be open to the examination of any shareholder for the duration of
the
meeting on a reasonably accessible electronic network, and the information
required to access the list must be provided to shareholders with the notice
of
the meeting. The original stock transfer books shall be prima facie evidence
as
to who are the shareholders entitled to examine such list or transfer book
or to
vote at any such meeting of shareholders.
2.4.Special
Meetings.
Special
meetings of the shareholders, for any purpose or purposes, unless otherwise
prescribed by law, the Articles of Incorporation or these Bylaws, may be called
by the President of the Corporation or the Board of Directors. Such request
will
state the purpose or purposes of the proposed meeting. Business transacted
at
all special meetings will be confined to the purposes stated in the notice
of
the meeting unless all shareholders entitled to vote are present and
consent.
2.5.Notice.
Written
or printed notice stating the place, day and hour of any meeting of the
shareholders the means of any remote communications by which shareholders may
be
considered present and may vote at the meeting and, in case of a special
meeting, the purpose or purposes for which the meeting is called, will be
delivered not less than ten nor more than sixty days before the date of the
meeting, either personally, by electronic transmission or by mail, by or at
the
direction of the President, the Secretary, or the officer or person calling
the
meeting, to each shareholder of record entitled to vote at the meeting. If
mailed, such notice will be deemed to be delivered when deposited in the United
States mail, addressed to the shareholder at his address as it appears on the
stock transfer books of the Corporation, with postage thereon
prepaid.
2.6.Quorum.
With
respect to any matter, the presence in person or by proxy of the holders of
a
majority of the shares entitled to vote on that matter will be necessary and
sufficient to constitute a quorum for the transaction of business except as
otherwise provided by law, the Articles of Incorporation or these Bylaws. If,
however, such quorum is not present or represented at any meeting of the
shareholders, the shareholders entitled to vote thereat, present in person
or
represented by proxy, will 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. If the adjournment is for more than 30 days, or if after the
adjournment a new record date is fixed for the adjourned meeting, a notice
of
the adjourned meeting will be given to each shareholder of record entitled
to
vote at the meeting. 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 notified.
2.7.Voting.
When a
quorum is present at any meeting of the Corporation’s shareholders, the vote of
the holders of a majority of the shares entitled to vote that are actually
voted
on any question brought before the meeting will be sufficient to decide such
question; provided that if the question is one upon which, by express provision
of law, the Articles of Incorporation or these Bylaws, a different vote is
required, such express provision shall govern and control the decision of such
question.
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2.8.Method
of Voting.
Each
outstanding share of the Corporation’s capital stock, regardless of class or
series, will be entitled to one vote on each matter submitted to a vote at
a
meeting of shareholders, except to the extent that the voting rights of the
shares of any class or series are limited or denied by the Articles of
Incorporation , as amended from time to time. At any meeting of the
shareholders, every shareholder having the right to vote will be entitled to
vote in person or by proxy executed in writing by such shareholder and bearing
a
date not more than 11 months prior to such meeting, unless such instrument
provides for a longer period. A telegram, telex, cablegram or similar
transmission by the shareholder, or a photographic, photostatic, facsimile
or
similar reproduction of a writing executed by the shareholder, shall be treated
as an execution in writing for purposes of the preceding sentence. Any
electronic transmission must contain or be accompanied by information from
which
it can be determined that the transmission was authorized by the shareholder.
Each proxy will be revocable unless expressly provided therein to be irrevocable
and if, and only so long as, it is coupled with an interest sufficient in law
to
support an irrevocable power. Such proxy will be filed with the Secretary of
the
Corporation prior to or at the time of the meeting. Voting for directors will
be
in accordance with Article III of these Bylaws. Voting on any question or in
any
election may be by voice vote or show of hands unless the presiding officer
orders or any shareholder demands that voting be by written ballot.
2.9.Record
Date; Closing Transfer Books.
The
Board of Directors may fix in advance a record date for the purpose of
determining shareholders entitled to notice of or to vote at a meeting of
shareholders, such record date to be not less than ten nor more than sixty
days
prior to such meeting, or the Board of Directors may close the stock transfer
books for such purpose for a period of not less than ten nor more than sixty
days prior to such meeting. In the absence of any action by the Board of
Directors, the date upon which the notice of the meeting is mailed will be
the
record date.
2.10.
Action
Without Meeting.
(a) Any
action required by law to be taken at a meeting of the shareholders, and/or
any
action that may be taken at a meeting of the shareholders, may be taken without
a meeting, without prior notice, and without a vote, if a consent or consents
in
writing, setting forth the action so taken, shall be signed by the holder or
holders of shares having not less than the minimum number of votes that would
be
necessary to take such action at a meeting at which the holders of all shares
entitled to vote on the action were present and voted.
(b) Every
written consent of the shareholders shall bear the date of signature of each
shareholder who signs the consent. No written consent shall be effective to
take
the action that is the subject of the consent unless, within sixty (60) days
after the date of the earliest dated consent delivered to the Corporation as
provided below, a consent or consents signed by the holder or holders of shares
having not less than the minimum number of votes that would be necessary to
take
the action that is the subject of the consent are delivered to the Corporation
by delivery to its registered office, its principal place of business, or an
officer or agent of the Corporation having custody of the books in which
proceedings of meetings of the shareholders are recorded. Such delivery shall
be
made by hand or by certified or registered mail, return receipt requested,
and
in the case of delivery to the Corporation’s principal place of business, shall
be addressed to the president of the Corporation.
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(c) A
telegram, telex, cablegram or similar transmission by a shareholder, or a
photographic, photostatic, facsimile or other similar reproduction of a writing
signed by a shareholder, shall be regarded as signed by the shareholder for
the
purposes of this Section. A telegram, telex, cablegram, or other electronic
transmission by a shareholder consenting to an action to be taken is considered
to be written, signed, and dated for the purposes of this Section if the
transmission sets forth or is delivered with information from which the
Corporation can determine that the transmission was transmitted by the
shareholder and the date on which the shareholder transmitted the transmission.
The date of transmission is the date on which the consent was signed. Consent
given by telegram, telex, cablegram, or other electronic transmission may not
be
considered delivered until the consent is reproduced in paper form and the
paper
form is delivered to the Corporation at its registered office in this state
or
its principal place of business, or to an officer or agent of the Corporation
having custody of the book in which proceedings of shareholder meetings are
recorded. Notwithstanding Subsection (b) of this Section, consent given by
telegram, telex, cablegram, or other electronic transmission may be delivered
to
the principal place of business of the Corporation or to an officer or agent
of
the Corporation having custody of the book in which proceedings of shareholder
meetings are recorded to the extent and in the manner provided by resolution
of
the Board of Directors of the Corporation. Any photographic, photostatic,
facsimile, or similarly reliable reproduction of a consent in writing signed
by
a shareholder may be substituted or used instead of the original writing for
any
purpose for which the original writing could be used, if the reproduction is
a
complete reproduction of the entire original writing.
(d) Prompt
notice of the taking of any action by shareholders without a meeting by less
than unanimous written consent shall be given to those shareholders who did
not
consent in writing to the action.
2.11.
Telephone
or Remote Communication Meetings.
Shareholders may participate in and hold a meeting by means of conference
telephone or similar other means of remote communication equipment by means
of
which all persons participating in the meeting can communicate with each other.
Participation in such a meeting shall constitute presence in person at the
meeting, except where a person participates in the meeting for the express
purpose of objecting to the transaction of any business on the ground that
the
meeting is not lawfully called or convened if (i) the Corporation implements
reasonable measures to verify that each person considered present and permitted
to vote at the meeting by means of remote communication is a shareholder and
(ii) the Corporation maintains a record of any shareholder vote or other action
taken at the meeting by means of remote communication.
ARTICLE
III
BOARD
OF DIRECTORS
3.1.Management.
The
business and affairs of the Corporation will be managed by or under the
direction of the Board of Directors, who may exercise all such powers of the
Corporation and do all such lawful acts and things as are not by law, the
Articles of Incorporation or these Bylaws directed or required to be exercised
or done by the shareholders.
3.2.Qualification;
Election; Term.
None of
the Directors need be a shareholder of the Corporation or a resident of the
State of Texas. The Directors will be elected by plurality vote at the annual
meeting of the shareholders, except as hereinafter provided, and each Director
elected will hold office until whichever of the following occurs first: his
successor is elected and qualified, his resignation, his removal from office
by
the shareholders or his death.
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3.3.Number.
The
number of Directors of the Corporation will be at least one and not more than
fifteen. The number of Directors authorized will be fixed as the Board of
Directors may from time to time designate, or if no such designation has been
made, the number of Directors will be the same as the number of members of
the
initial Board of Directors as set forth in the Articles of Incorporation .
No
decrease in the number of Directors will have the effect of shortening the
term
of any incumbent Director.
3.4.Removal.
Any
Director may be removed either for or without cause at any special meeting
of
shareholders by the affirmative vote of at least a majority in number of shares
of the shareholders present in person or represented by proxy at such meeting
and entitled to vote for the election of such Director; provided, that notice
of
intention to act upon such matter has been given in the notice calling such
meeting.
3.5.Vacancies.
Any
vacancy occurring in the Board of Directors by death, resignation, removal
or
otherwise may be filled by an affirmative vote of at least a majority of the
remaining Directors though less than a quorum of the Board of Directors. A
Director elected to fill a vacancy will be elected for the unexpired term of
his
predecessor in office. A directorship to be filled by reason of an increase
in
the number of Directors may be filled by the Board of Directors for a term
of
office only until the next election of one or more Directors by the
shareholders.
3.6.Place
of Meetings.
Meetings of the Board of Directors, regular or special, may be held at such
place within or without the State of Texas as may be fixed from time to time
by
the Board of Directors.
3.7.Annual
Meeting.
The
first meeting of each newly elected Board of Directors will be held without
further notice immediately following the annual meeting of shareholders and
at
the same place, unless by unanimous consent, the Directors then elected and
serving shall change such time or place.
3.8.Regular
Meetings.
Regular
meetings of the Board of Directors may be held without notice at such time
and
place as is from time to time determined by resolution of the Board of
Directors.
3.9.Special
Meetings.
Special
meetings of the Board of Directors may be called by the President on oral or
written notice to each Director, given either personally, by telephone, by
telegram or by mail; special meetings will be called by the President or the
Secretary in like manner and on like notice on the written request of at least
two Directors. Except as may be otherwise expressly provided by law, the
Articles of Incorporation , or these Bylaws, neither the business to be
transacted at, nor the purpose of, any special meeting need be specified in
a
notice or waiver of notice.
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3.10.Quorum.
At all
meetings of the Board of Directors the presence of a majority of the number
of
Directors then in office will be necessary and sufficient to constitute a quorum
for the transaction of business, and the affirmative vote of at least a majority
of the Directors present at any meeting at which there is a quorum will be
the
act of the Board of Directors, except as may be otherwise specifically provided
by law, the Articles of Incorporation or these Bylaws. If a quorum is not
present at any meeting of the Board of Directors, 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.
3.11.Interested
Directors.
No
contract or transaction between the Corporation and one or more of its Directors
or officers, or between the Corporation and any other corporation, partnership,
association or other organization in which one or more of the Corporation’s
Directors or officers are Directors or officers or have a financial interest,
will be void or voidable solely for this reason, solely because the Director
or
officer is present at or participates in the meeting of the Board of Directors
or committee thereof that authorizes the contract or transaction, or solely
because his or their votes are counted for such purpose, if: (i) the material
facts as to his relationship or interest and as to the contract or transaction
are disclosed or are known to the Board of Directors or the committee, and
the
Board of Directors or committee in good faith authorizes the contract or
transaction by the affirmative vote of a majority of the disinterested
Directors, even though the disinterested Directors be less than a quorum, (ii)
the material facts as to his relationship or interest and as to the contract
or
transaction are disclosed or are known to the shareholders entitled to vote
thereon, and the contract or transaction is specifically approved in good faith
by vote of the shareholders or (iii) the contract or transaction is fair as
to
the Corporation as of the time it is authorized, approved or ratified by the
Board of Directors, a committee thereof or the shareholders. Common or
interested directors may be counted in determining the presence of a quorum
at a
meeting of the Board of Directors or of a committee that authorizes the contract
or transaction.
3.12.Committees.
The
Board of Directors, by resolution adopted by a majority of the whole Board,
may
designate from among its members one or more committees, each of which shall
be
comprised of one or more of its members, and may designate one or more of its
members as alternate members of any committee, who may, subject to any
limitations imposed by the Board of Directors, replace absent or disqualified
members at any meeting of that committee. Any such committee, to the extent
provided in such resolution of the Board of Directors, shall have and may
exercise all of the authority of the Board of Directors in the business and
affairs of the Corporation except where the action of the full Board of
Directors is required or where the authority of such committee is limited by
statute. A committee formed pursuant to this Section 3.12 will have no authority
to take the actions prohibited by the applicable law. The number of members
on
each committee may be increased or decreased from time to time by resolution
of
the Board of Directors. Any member of any committee may be removed from such
committee at any time by resolution of the Board of Directors. Vacancies in
the
membership of a committee (whether by death, resignation, removal or otherwise)
may be filled by resolution of the Board of Directors. The time, place and
notice (if any) of meetings of any committee shall be determined by such
committee. At meetings of any committee, a majority of the number of members
of
such committee shall constitute a quorum for the transaction of business, and
the act of a majority of the members present at any meeting at which a quorum
is
present shall be the act of such committee, except as otherwise specifically
provided by statute, the Articles of Incorporation , or these bylaws. If a
quorum is not present at a meeting of any committee, the members present may
adjourn the meeting from time to time, without notice other than an announcement
at the meeting, until a quorum is present. Each committee shall keep regular
minutes of its proceedings and report the same to the board when required.
The
designation of any such committee of the Board of Directors and the delegation
thereto of authority shall not operate to relieve the Board of Directors, or
any
member thereof, of any responsibility imposed upon it or him by
law.
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3.13.Action
by Consent.
Any
action required or permitted to be taken at any meeting of the Board of
Directors or any committee of the Board of Directors may be taken without such
a
meeting if a consent or consents in writing, setting forth the action so taken,
is signed by all the members of the Board of Directors or such committee, as
the
case may be. A telegram, telex, cablegram, or other electronic transmission
by a
director consenting to an action to be taken and transmitted by a director
is
considered written, signed, and dated for the purposes of this article if the
transmission sets forth or is delivered with information from which the
Corporation can determine that the transmission was transmitted by the director
and the date on which the director transmitted the transmission. Such consent
shall have the same force and effect as a unanimous vote at a meeting of the
Board of Directors or the committee, as the case may be, duly called and
held.
3.14.Compensation
of Directors.
Directors will receive such compensation for their services and reimbursement
for their expenses as the Board of Directors, by resolution, may establish;
provided that nothing herein contained will be construed to preclude any
director from serving the Corporation in any other capacity and receiving
compensation therefor.
3.15.Resignations.
A
Director may resign at any time by giving written notice in writing or by
electronic transmission to the Board of Directors or the chairman of the board.
Such resignation shall take effect at the date of receipt of such notice or
at
any later time specified therein; and, unless otherwise specified therein,
the
acceptance of such resignation shall not be necessary to make it
effective.
ARTICLE
IV
NOTICE
4.1.Form
of Notice.
Whenever by law, the Articles of Incorporation or these Bylaws, notice is to
be
given to any director, committee member or shareholder, and no provision is
made
as to how such notice is to be given, such notice may be given: (i) in writing,
by mail, postage prepaid, addressed to such director, committee member or
shareholder at such address as appears on the books of the Corporation or (ii)
in any other method permitted by law. Any notice required or permitted to be
given by mail will be deemed to be given at the time the same is deposited
in
the United States mail. Notice to directors, committee members or shareholders
may also be given by nationally recognized overnight delivery or courier
service, or telegram, and shall be deemed given when such notice shall be
received by the proper recipient or, if earlier, (i) in the case of an overnight
delivery or courier service, one (1) day after such notice is sent by such
overnight delivery or courier service and (ii) in the case of telegraph, when
deposited at a telegraph office for transmission and all appropriate fees
therefor have been paid. On consent of a shareholder, director or committee
member, notice from the Corporation may be given to the shareholder, director
or
committee member by electronic transmission. The shareholder, director or
committee member may specify the form of electronic transmission to be used
to
communicate notice. The shareholder, director or committee member may revoke
this consent by written notice to the Corporation. The consent is deemed to
be
revoked if the Corporation is unable to deliver by electronic transmission
two
consecutive notices, and the person responsible for delivering notice on behalf
of the Corporation knows that delivery of these two electronic transmissions
was
unsuccessful. The inadvertent failure to treat the unsuccessful transmissions
as
a revocation of consent does not invalidate a meeting or other action. Notice
by
electronic transmission is deemed given when the notice is (i) transmitted
to a
facsimile number provided by the shareholder, director or committee member
for
the purpose of receiving notice; (ii) transmitted to an electronic mail address
provided by the shareholder, director or committee member for the purpose of
receiving notice; (iii) posted on an electronic network and a message is sent
to
the shareholder, director or committee member at the address provided by the
shareholder, director or committee member for the purpose of alerting the
shareholder, director or committee member of a posting; or (iv) communicated
to
the shareholder, director or committee member by any other form of electronic
transmission consented to by the shareholder, director or committee
member.
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4.2.Waiver.
Whenever any notice is required to be given to any shareholder or Director
of
the Corporation as required by law, the Articles of Incorporation or these
Bylaws, a waiver thereof in writing signed by the person or persons entitled
to
such notice, or a waiver by electronic transmission by the person entitled
to
notice, whether before or after the time stated in such notice, will be
equivalent to the giving of such notice. Attendance of a shareholder or Director
at a meeting will constitute a waiver of notice of such meeting, except where
such shareholder or Director attends for the express purpose of objecting,
at
the beginning of the meeting, to the transaction of any business on the ground
that the meeting has not been lawfully called or convened. The business to
be
transacted at a regular or special meeting of the shareholders, directors,
or
members of a committee of directors or the purpose of a meeting is not required
to be specified in a written waiver of notice or a waiver by electronic
transmission unless required by the Articles of Incorporation .
ARTICLE
V
OFFICERS
AND AGENTS
5.1.In
General.
The
officers of the Corporation will be elected by the Board of Directors and will
be a President and a Secretary. The Board may also elect a Chairman of the
Board, a Vice-Chairman of the Board, a Chief Executive Officer, a Chief
Financial Officer, one or more Vice Presidents, one or more Assistant Vice
Presidents, one or more Assistant Secretaries, a Treasurer and one or more
Assistant Treasurers and may give any of them such further designations or
alternate titles as it considers desirable. Any number of offices may be held
by
the same person.
5.2.Election.
The
Board of Directors, at its first meeting after each annual meeting of
shareholders, will elect the officers, none of whom need be a member of the
Board of Directors.
5.3.Other
Officers and Agents.
The
Board of Directors may also elect and appoint such other officers and agents
as
it deems necessary, who will be elected and appointed for such terms and will
exercise such powers and perform such duties as may be determined from time
to
time by the Board.
8
5.4.Compensation.
The
compensation of all officers and agents of the Corporation will be fixed by
the
Board of Directors or any committee of the Board, if so authorized by the
Board.
5.5.Term
of Office and Removal.
Each
officer of the Corporation will hold office until his death, his resignation
or
removal from office, or the election and qualification of his successor,
whichever occurs first. Any officer or agent elected or appointed by the Board
of Directors may be removed at any time, for or without cause, by the
affirmative vote of a majority of the entire Board of Directors, but such
removal will not prejudice the contract rights, if any, of the person so
removed. If the office of any officer becomes vacant for any reason, the vacancy
may be filled by the Board of Directors.
5.6.Employment
and Other Contracts.
The
Board of Directors may authorize any officer or officers or agent or agents
to
enter into any contract or execute and deliver any instrument in the name or
on
behalf of the Corporation, and such authority may be general or confined to
specific instances. The Board of Directors may, when it believes the interest
of
the Corporation will best be served thereby, authorize executive employment
contracts that will have terms no longer than ten years and contain such other
terms and conditions as the Board of Directors deems appropriate. Nothing herein
will limit the authority of the Board of Directors to authorize employment
contracts for shorter terms.
5.7.Bonding.
The
Corporation may secure a bond to protect the Corporation from loss in the event
of defalcation by any of the officers, which bond may be in such form and amount
and with such surety as the Board of Directors may deem
appropriate.
ARTICLE
VI
CERTIFICATES
REPRESENTING SHARES
6.1.Form
of Certificates.
Certificates, in such form as may be determined by the Board of Directors,
representing shares to which shareholders are entitled, will be delivered to
each shareholder. Such certificates will be consecutively numbered and entered
in the stock book of the Corporation as they are issued. Each certificate will
state on the face thereof that the Corporation is organized under the laws
of
Texas, the holder’s name, the number, class of shares, and the par value of such
shares or a statement that such shares are without par value. They will be
signed by the President or a Vice President and the Secretary or an Assistant
Secretary, and may be sealed with the seal of the Corporation or a facsimile
thereof. If any certificate is countersigned by a transfer agent, or an
assistant transfer agent or registered by a registrar, either of which is other
than the Corporation or an employee of the Corporation, the signatures of the
Corporation’s officers may be facsimiles. In case any officer or officers who
have signed, or whose facsimile signature or signatures have been used on such
certificate or certificates, ceases to be such officer or officers of the
Corporation, whether because of death, resignation or otherwise, before such
certificate or certificates have been delivered by the Corporation or its
agents, such certificate or certificates may nevertheless be adopted by the
Corporation and be issued and delivered as though the person or persons who
signed such certificate or certificates or whose facsimile signature or
signatures have been used thereon had not ceased to be such officer or officers
of the Corporation.
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6.2.Lost
Certificates.
The
Board of Directors may direct that a new certificate be issued in place of
any
certificate theretofore issued by the Corporation alleged to have been lost
or
destroyed, upon the making of an affidavit of that fact by the person claiming
the certificate to be lost or destroyed. When authorizing such issue of a new
certificate, the Board of Directors, in its discretion and as a condition
precedent to the issuance thereof, may require the owner of such lost or
destroyed certificate, or his legal representative, to advertise the same in
such manner as it may require and/or to give the Corporation a bond, in such
form, in such sum, and with such surety or sureties as it may direct as
indemnity against any claim that may be made against the Corporation with
respect to the certificate alleged to have been lost or destroyed. When a
certificate has been lost, apparently destroyed or wrongfully taken, and the
holder of record fails to notify the Corporation within a reasonable time after
such holder has notice of it, and the Corporation registers a transfer of the
shares represented by the certificate before receiving such notification, the
holder of record is precluded from making any claim against the Corporation
for
the transfer of a new certificate.
6.3.Transfer
of Shares.
Shares
of stock will be transferable only on the books of the Corporation by the holder
thereof in person or by such holder’s duly authorized attorney. Upon surrender
to the Corporation or the transfer agent of the Corporation of a certificate
representing shares duly endorsed or accompanied by proper evidence of
succession, assignment or authority to transfer, it will be the duty of the
Corporation or the transfer agent of the Corporation to issue a new certificate
to the person entitled thereto, cancel the old certificate and record the
transaction upon its books.
6.4.Registered
Shareholders.
The
Corporation will be entitled to treat the holder of record of any share or
shares of stock as the holder in fact thereof and, accordingly, will not be
bound to recognize any equitable or other claim to or interest in such share
or
shares on the part of any other person, whether or not it has express or other
notice thereof, except as otherwise provided by law.
ARTICLE
VII
GENERAL
PROVISIONS
7.1.Dividends.
Dividends upon the outstanding shares of the Corporation, subject to the
provisions of the Articles of Incorporation , if any, may be declared by the
Board of Directors at any regular or special meeting. Dividends may be declared
and paid in cash, in property, or in shares of the Corporation, subject to
the
provisions of the applicable law and the Articles of Incorporation . The Board
of Directors may fix in advance a record date for the purpose of determining
shareholders entitled to receive payment of any dividend, such record date
to be
not more than sixty days prior to the payment date of such dividend, or the
Board of Directors may close the stock transfer books for such purpose for
a
period of not more than sixty days prior to the payment date of such dividend.
In the absence of any action by the Board of Directors, the date upon which
the
Board of Directors adopts the resolution declaring such dividend will be the
record date.
7.2.Reserves.
There
may be created by resolution of the Board of Directors out of the surplus of
the
Corporation such reserve or reserves as the directors from time to time, in
their discretion, deem proper to provide for contingencies, or to equalize
dividends, or to repair or maintain any property of the Corporation, or for
such
other purpose as the Directors may deem beneficial to the Corporation, and
the
directors may modify or abolish any such reserve in the manner in which it
was
created. Surplus of the Corporation to the extent so reserved will not be
available for the payment of dividends or other distributions by the
Corporation.
10
7.3.Telephone
and Similar Meetings.
Shareholders, directors and committee members may participate in and hold
meetings by means of conference telephone or similar communications equipment
by
which all persons participating in the meeting can hear each other.
Participation in such a meeting will constitute presence in person at the
meeting, except where a person participates in the meeting for the express
purpose of objecting, at the beginning of the meeting, to the transaction of
any
business on the ground that the meeting had not been lawfully called or
convened.
7.4.Books
and Records.
The
Corporation will keep correct and complete books and records of account and
minutes of the proceedings of its shareholders and Board of Directors, and
will
keep at its registered office or principal place of business, or at the office
of its transfer agent or registrar, a record of its shareholders, giving the
names and addresses of all shareholders and the number and class of the shares
held by each.
7.5.Fiscal
Year.
The
fiscal year of the Corporation will be fixed by resolution of the Board of
Directors.
7.6.Seal.
The
Corporation may have a seal, and such seal may be used by causing it or a
facsimile thereof to be impressed or affixed or reproduced or otherwise. Any
officer of the Corporation will have authority to affix the seal to any document
requiring it.
7.7.Indemnification.
The
Corporation will indemnify its directors, officers and other persons referenced
in the Articles of Incorporation to the fullest extent permitted by the
applicable law and may, if and to the extent authorized by the Board of
Directors, so indemnify any other person whom it has the power to indemnify
against liability, reasonable expense or other matter whatsoever.
7.8.Insurance.
The
Corporation may at the discretion of the Board of Directors purchase and
maintain insurance on behalf of the Corporation and any person whom it has
the
power to indemnify pursuant to law, the Articles of Incorporation , these Bylaws
or otherwise.
7.9.Resignation.
Any
director, officer or agent may resign by giving written notice to the President
or the Secretary. Such resignation will take effect at the time specified
therein or immediately if no time is specified therein. Unless otherwise
specified therein, the acceptance of such resignation will not be necessary
to
make it effective.
7.10.
Amendment
of Bylaws.
These
Bylaws may be altered, amended or repealed at any meeting of the Board of
Directors at which a quorum is present, by the affirmative vote of a majority
of
the Directors present at such meeting.
7.11. Invalid
Provisions.
If any
part of these Bylaws is held invalid or inoperative for any reason, the
remaining parts, so far as possible and reasonable, will be valid and
operative.
7.13.
Off-Shore
Offerings.
In all
offerings of securities pursuant to Regulation S of the Securities Act of 1933
(the “Act”), the Corporation shall require that its stock transfer agent refuse
to register any transfer of securities not made in accordance with the
provisions of Regulation S, pursuant to registration under the Securities Act
of
1933 or an available exemption under the Act.