aI he Board Of Directors oe Truitees { ree is Ave governing loody of & corporation, Elected by the stocenoides THE loach shall evercice good faith cate, ANd AINGerce in the aminicHcdtion eaaee 1. Corporate power of all corporations fomed unger the Code shail be exercised, __& all business conaucted __& all property of such corporation ___eontrolted and heid by the board Of dicectort of toutes 40 be elected foom among the elder! 9 stock, OF where Enere i No stock, fror among the memioes of the PePoration, who sal hold office fot one year until tnele ewccestove are checked OND dautitied sublet fo the Umitatont pro ied inthe _ Constitution, tne Reviced Cdrporation Qae, related laut o¢ ctatuter, Hts drrickes of incorporations and by - tows WR! in sre obccrce of outhorty from fhe Board of PHOT: we person, even its ofpcers, com validly bind Ie corpo cation frctptions oi rere te custhedty pom the BOP big the Boo yatiay det ea ates Come of ite funcetons and Powel fo sgpiters, Committees, of axgent me aoa feo oe lepreterd and bind tre corporation fo tme extent of tne Gurhe chy teat nas ween eongened ue7n turn GR: corporate officer Canna be Wed Walle fer acts gone in Wr oficial covodty Evception: ig It % chown frat the __exrporate penalty wos used ___ 18 perpemate groua or an Megat act, er #2 ode an existing vlouigartton, o to congue alegitionic trewe-—_ — GA’ Diectors, officers, or employees cannot 5 natural peony Weenses fo proche _ W% held personally Kable for obligations Progeceion og ach as Pareneshics | irouwed oy Me Corporation pe asfoations chatl net ve allowed Peeptiont fe organi ze a corporation unless O) ig the offices fe guiity of ntgiigence Provided unaer rpecial (ows _ i 8) such negitgence oF bad fait was clearly ond conwircingly Proven fe cock jncorporator vt & Stock comoraney mutt oan er be a suncenber re Iduaurcanons oF vwgeroes, reuse, / at least one snare of the cael she % a corporation with o cingie ctockhal x te any dleector who cecttes fo be the oaner Hconcigered a ont-peren corporation Hat least one share of the capi tat Stock shall cease to be a dlector 8 ofc i$ a corporation with a Cagle Stockholder j provicies. that onky a 2 werrrations Vested yith public interest ratusal perton. tut, of an estate sholl have independent alivectoes may tor” an OPC conskiurrg at least 20% & ants, quasi: banks, fost, mneuraree, 4 any person. portnertnip, associ HON, O4 publicly (ited Comranicl, and non corporation, Singly oF jointly with ofners chartered G00: may aot tmcarporahe tur ror more thor ($ may organite 8 GOK | provides that a Nato a corperahon fo! any tomfut purpere]s Peron Rented fe grenise a popetity raqeot Gane on OPE ger Much poop 4. ineorpemton win are nedural pemont eecept_ wmay cpedal (ows mult ve et teqai age 1 Directors Chall he lect s For Wyecr team, Trustees ora Hm Set exceeding 9 vena# Ree requires tat © boait of fhe following corporonione vested with Pablic interest chat Nave inatpendeat dtecch)!! coming _ Ot 1eASt 20% oF such wold 1) omporations uncer RA G99 er The SeourHies Regulation Code fisted with on exchange or with | tifele of at feast 0M and having 1 200 oF more holders of haves cach { holding at least [OP thares ve a Class °F its equity chares 4) Banks, quasi- banks, nonitock savings, lawn asiodationc, paunthops, aurporations Engaged in money senkees, ete: 4 3) vine comerations engaged in businestes vestea uth public iateey conviction of gaat judgment oF an HeFence muaisrable oy Impaconment oF mor Han U year 2 Violator OF the Coge committed within 5 TOO peor 7 the dak Uf Ws election Ceatlng fo be vmners op af least one share as Mansaed wy (e¢.23 Tgp _-_the time auring waich the series may Claim to hole o¢eice —| hottover periods tne rime from the lace @4 ene Year prom & member's election 1 the Bears ond unkl nix cuccessor + election ond Gusttpfeation = iinet part ob dog aeector # fem of vgtice, out a part on ate tenure Ca wher an incumbent member conmnurs fe serve in a neletover capacity, i impices frat the eMflce ras a Fircot derm, which nas expired « ang rhe incumpent if helaing the raceeding tom 1 Th onles enerbeting wecarod’ ta fn et asle srafiens” Ben Ht cauiea net Oy tne expiration of @ member's Ferm. the succertor so elected HY tne vacancy shal We Elected only For He unereiret fern Of ie Tneory of detegated’ power _ Caporcic poucies 6 sfrmd rm} veto wing ME contract fo Pe In some fom in untess the law requires order fer it fe be valla ona enforcantefee aent eno chat ve a director 4 (R teasueer who may or may hol ve @ director, Dut must be @ recitent \ ‘ 4 FR eretaAifewe cha we 0 reticent | i i _ Ord atizen of the Pritippines ea 4 Oe HENSLEY a may ve _ _ Provicta fo in tne eats by-laws _formation of leqa and wera! relaHontnip in exter te hweltigare ana weterritor olecrively if wwe financial ttatemenn { Suomitied fer Qucitt Bx a corporation have een preparta in cecordance wit the appropriate ¢inarcial epeenag procices of prvate eaittir, CORPORATE WIERARCHY (HENEU_OF Contre’) 4 BROT yestonsivle 421 cpreorate pouaes oo Trea memagement of busines atfallt 2 GRRE Grote poGies aid dove by BoD, hove adde tahtwae In cheteomining coune of utes epuarion 3 fBtermmany nows7 into poner over furdamentar corpoiate narges Mandate Residency 3 Cifitenshio cleetea And quatipieg” Cee- 4 ELECTION of piRDerDes oR rRunett coortony Gtizen and recient Lheheg directors or erustees!) "upon Weorporation ond ese fe crnmerce Hs et, the corporat malt ckclae wne chat act cu alvectva of truteer unkt tre piel directs oF trustees are duly 1 Presence eigniticg through remote communicanon 0¢ (9 abtent aillowed > By ballot, if requests! byany member Stoctholdert entited to vote hated ox fhe umber of Chaves ander #REit names 3 No delinquent stock chal! be voted o. Membert may cail as many voter ar frere are trustees put may not cat more fran one vote for ene candidate Highest number ay vates = elected 2h lg ao etechien i eid, corporation that Prceea under Cor. 20 a There clectect nat pertorm Hele duty as Preicnbed by faywithin 29 daye otter electHon, me Dames, gaKonaiiH er, shovenoiding c, ona reviaence oddricer of these eecked shal Commi esi on be FNoniteest fo the 4: None holding 91 electtong ot its Featons Chall ve reperteo within Do days With a new date whicn Chall wot we later than Go davis gM ne date ces tiea, the Commi sion Gay grasdan wilich se 4 Shares of stock / membershir fepretermed chal consPhule a quorum 01 _sttignaion or death a refer! should ve _gileg to the 5+ Tn cate Commiscie awgur scm fact within 2 days from bnouled ge tt tuck, [arena rma onc eounesey uv Election a: lPrecctent p. fiteasurer! e (Seectard 2 Duties to pergom a: [rne by-tant of the coporotions b:[uties at eiolied wy the BoD uous ~ Frajority of the number of Strecro of HAsTECs |) [28 fea in tne bor 7 winters the Hol of MME by-laus provid® FOF @ greater malos ty except for the ElecHon of OFREM which shalt require tne vote of majesty of al members of the board ~[Brodenotgea ot memuas= walesty o€ tre flevkctanding coptiat crock | members) Prohibition 09 proxy Dicectos or trates como’ otters or vote by proxy of board yncetings Remedy". emote _communrat > | suricaictioncs_fequi cement. § - d- [Obner vpficecslas may oe previdect in the by- tansmute ERetoyol of Diets | Tastes 7 AR SAARNSARTAVREGTRMATIONY ois ea UERNPY ctearrotsers_4]> of oastoncing. C5 Between and among steckholdecs, ron-stock 213 04 members enétteat vol wnembert, oF associates “Pesticg_anet sotte, beqalrementy 2 Betucen any of them Ond tre = during requiar and Special meeting corporation, portnersnie, 2° : copter roRe of infest fy Mrmiver [ftsthelse | ! \ [es esetocien ag eS | a; Bomeateah Grocotiny, porte stb, erctan, on President's der assedation, and the State iniorar_ = written demand of Hoaneiatrt i | | ao concerns tele sad Sua peste el canna | frorenise o¢ ight to eeist as Suey = written demoed of members entity represervieg wajorty of trove sled A Contepvedies in tne election ov iuetce 9 arpointment of dcectos, drucie Given by puotication on weston : “tine ond pas of ertig must Be See Bl corperations partneskps, of asfecations | cements to etomine iether & cate) win jt oa a invowes an intto-cxrporate con troveny (RTE) _ —__r wlthaut tt aes provises trek i BStapu eelieeiabionaitay o¢ tre. parties _ i Secisl OV cote feed 1 eR a qUMIIA Hoe 16 te 4 depsve minosty member 3 eteckholders. of the right Subject of the_tonteoverty ay repretentation Vupspienesd OVER Gomes EMPLONEES Fanwit Service Commission g "Tre Commission shall, motu prvpt!® OF upon vertfi ee! meer frees complaint ond after aue notte ons neatg, ofcter the [Povey removal of a dlvectoe oF truijee elected despite the ay Sencratcey cote. Flt Aayaificansn , or whete atxzealitication avore or i (original enarter Vi Genera! “WP: ae) acvered culestquent tea AeHon." fer. 9%Director % Trustee) PIMLCREASE Wt rie NUKE oF Got [oot y > DAcaNcy I eoo/rp on election at or reguor | creat menting, I 2 Same meeting authorizing the {acrease WewmeRceNcr BoARy” Omer than. removal | expiration of team 201 least majority of the remaining Sieectors. of trustees 4 Stil can Nhe vacancy prevents tne remaining constitute a quorum dietehors from consti tubing a_quonim NO quorum seengrio, vacancy is 08 emergency oction te requived +0 Ofer Nan removal exprabion of erm pevent Grave, substantialand Wecraraole otherwite , voconcy must we fitted by Jee oF domage stockholders dung a meeting 2 ThE action ig limited +0 the cmegenay » Redeow ron vreaney 9 cetion necessary ; the etm chal cease + yer expliation ~# election sha be within et reasonable Hime from the : Reid no later than the day of termination of gre cmergery of up Such expiration, dying meeting election of ane replacement q % Removal by stockhotden Jmembers 8 TRE Commission must oe notisted on tne Some cay of the meeting, within 3 days fromthe Creation must we stated tn the agenag Ol Fre _emergeny beard ond _notce 3 A other cases Noaaney (0 Board of Trustees | Pre later tran AF days -from vacancy > REPLACEMENT pwecmRy 79. directo! or taste? _electea yo, fil 9) qrusteer_ may fil yacardes tn the beard, proviced that these remaining st Gonsimte a quorum a vecarcy Who shall seve only for 2) By ockholden oF memben Wa requir Fhe unexpired tem OF tre poedecssor or sgecal_ meeting cates 40 Ne purposeGR: IN $M absence of any preyiston Ih the by Jaws fing. thes | GN fo me honest decctont of segtewr ond! _eompensonion, [thal diese aay tector of cormoretin, and ce tong as / + Ficasoracle per dhemé (cor Sntucgeree in. Interval apa) 2 By vote 4 stecthotden J repe-ening Eeccpriers py at feast majonty of the oc (where taw and justice fo equires 2. Where the proceedings °f fne assodakin are cubject to juictal revew Jn 90 Case. shat the fetal yearly compencation ceed (oth af the net INOME vefore Income tax of tne Corporetion during {he prceaing year 3. where there a Froud, opprtston, wnere the action complained of if _copricigus, arbitrary, © uniuitly 2 allied nator ey S_ When property and civil nights are i G where violative of the saws of fedcty [ Ctavivity Of circctors for wettered (focal! SOUpARILY LIABLE w/ THE stocctianee curcmueO remedy: rust ccrqumt 10492 Cofperation by fo tne comm cine tc omditors regunding the came i for the ciygerence of the Pay Value vecrived ott He ratification by o vote of SH ouning Fine of iteuance ana re por valve Iecued we representing af least Yo atthe OC F consents fo the tuane (est than par vale “becttiny oF coBpeeAte ooroeruuny” 3 coset n,the Itsanct valags ta oxcesr 3 Hukag Fnauica ye of Nut HGer Conideretion Wut does not fila a watten objectioney. nen a ducsetor [tratins Jogger. +, *) accents to a patently unianeutoa OF when pe Ht guilty of bast-falth 1 gqmte_negitgence or wer __ here i precerce 4 congiict of interest 13) consents to the Issvance of watered | own checks or wine hos tnowiedae frerecy but oes not gile his written objection 3)_agrees_ fo bold ntevelg personally end cokdaily able ul ihe cop Fs is_ mode wy cr spccigtc proyicion 96 Jaw _pectenally ancweratoe for Inte Corporate _acHon [hee | Requtettes’ [1+ compiainant mutt allege 19 the complaint thal the director or officer osented fo Patently unlawful ack of tne Cory or frat he ts quitty of bad faith gross negligence 4 ear ond Convincing Peg ef CUch hen trey... Cisinny 2 coversty) wilfully and rowingly vote tor or assent 4e patently unlawful oct of the cop 2) _quilty of gots negugence of bod faith in _dteecting re atgalcs of The oP 9) acquire any personal or peciniary interest fn conflict with tele duty sovdary ability — urea ebigaton ce states —ohen the law se peviag —wnen ebyigation 4° Aequieg wren he + __) attempts fe acquire of acquires, th violation of his olaty a) ony interest oawertt fe the corm in 3) ste shin impose 2 dtcability eon mim £9 deal IA ht on beaaly Aoted ul mailer of bod fabtin Geminanen of emrtoyect) TF ruisaniy Mare uf te cop“Rep oniblury for Crimes CUBSTAN TIAL (wrepesT TF may be held ac*pricipal, together Heceheldings exceeding 201¢ of tre OCs with te coporation Soa ve contiseres SUBHATAL for the Cxicterce oF Corpora entity does Mot Purpoces of inkerweking director shield From proiecution [Pea ICS of Diretorss Trutees, 067 Executive committee \ ie fret tees tna % members 24 the boarty 4 2) fe ve appointed vy the ware | | 3) fRSy Oa, SY majedty vote BY ae tir PR WeDABIED untese + members, except mf eapect 0! receccty 9f @ ea = 1s tnere wat noAquerum curing the meeting : 2) approval ef ony 24 'on for Yote af such tector, officer, or trustee sj witon, Shegrolies S.speroi af eee ae 1 tne controct is pal ant reasonable ee og o{_taconcies Inthe bead | ln cate of cores veites wf Publi: inferest, amendment | repeat #2 bY fu tray tne oonteacrs a opproves by af oF ackoption of new O4=1AH1 teait % OF the entice memberchip, wy d) amendment [repeat of ory | a (east majonty of the indepenctent cecters Fesolwtion vf the Poard wfc $+ _ frat the contrect was previously authonded by ihe express ferme i6 not { omencable vf repeatavie | Ratification: Yo 6 065 / memvers ©) _atinettor of uh divdents an Cn. aleonture * tequad) ‘5 bene % conract betwen two oF more come wf interlocking directors shat_not beinvalitated, except ¢ > in cues of fraud Provided thai the amrat c fale B reasaable| Regular chal beheld mrontnly, unless cis + fiddeseengerencingy- tv: Ike communication the by-law _prvote_vinennge Spedot al amy fime upon tre cat af ES cougmented yw) sod the president oy cy gioviled ____ a omputer eonperendngh prntea communica! prota te eye, though Feyboard ferminaly | oa » fiiitentaeeg vere come tq telephone optional ___cwwocity fat fetewe'trg ig anywhere In of outcice the Phiippines, Unies the by-taus &* (lecapvlog. provide vthenwice | honed meetings | PCIMIRMAN or in NG ablence, the amiess the C1 of the by-laws _ PResictent Fo provides _fat_ 9. greatel_majonty, nies the By-laws Provider otherwise a majodty of the dirctors or tstee ae as | | AS] chall_ Cone Htute Proce must be sent to every arector or fraster at leat 2 days peor fo tne scheguied meeting emiew_a longer Hme ts provictes in he by lawl