i-GATE Development Corporation Board Resolution #001-2016 Amendment of Bylaws to Require Financial Contribution The Board, by majority vote, adopted the following resolution on the 4th day of February, 2016, at a meeting held by the Board of Directors (“Board�) of the i-GATE Development Corporation that (a) was properly noticed, (b) was properly organized, and (c) where a quorum was present. WHEREAS, the Board desires to establish appropriate and useful roles and responsibilities for stakeholders and supporters of i-GATE. WHEREAS, the Board desires to require a financial contribution to serve in a governance capacity for i-GATE. WHEREAS, the Board is currently comprised of a mix of funding and non-funding board members. NOW THEREFORE BE IT RESOLVED THAT the i-GATE Development Corporation Board of Directors amends section 4.4, Qualification of Board Members, to read as follows (amended language italicized): 4.4 Qualification of Board Members All members must provide an annual monetary contribution of $5,000 or more to be eligible for a board seat. The Board of Directors may appoint up to three at-large non-funding board members. The at-large non-funding members shall at no time constitute a majority of the full board. Directors must be at least 18 years of age, and need not be residents of the State of California. The motion to approve this Resolution was made by _________________________. ___________________ seconded the motion to adopt the Resolution. On the roll call being called, the vote result as follows: In Favor (___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________, ___________________); Opposed (___________________, ___________________, ___________________, __________________,) Abstentions (___________________,___________________,___________________)
CERTIFIED BY: ____________________________________ Dr. Marshall Kamena Secretary, i-GATE Development Corporation Print Name: ________________________