[Advisors] by-law amendments to be proposed

[Marita Moll]

Hello all.  I am trying to get the by-laws up to date. Although there is 
lots of cleaning up that needs to be done, I only have time to address 2 
issues at the moment. I will be proposing the following 2 amendments at 
today's meeting:

1. Board of Directors

current bylaw:

The Directors shall be elected for a term of two years, except in the case

of the first General Meeting where the four candidates with the highest

total of votes shall be elected for a two year term and the remaining three

candidates shall be elected for a one year term.

*proposed:*

**

*The Directors shall be elected for a renewable term of two years. 
*(delete the rest)

2. Indemnification

*Proposal will be to delete this entire piece as it clearly is not 
happening and not likely to happen, given that we would never be able to 
afford it.*

**

**

INDEMNIFICATION OF DIRECTORS AND OFFICERS

Every director or officer of the corporation or other person who has

undertaken or is about to undertake any liability on behalf of the

corporation or any company controlled by it and their heirs, executors and

administrators, and estate and effects, respectively, shall from time to

time and at all times, be indemnified and saved harmless out of the funds

of the corporation, from and against:

- all costs, charges and expenses which such director, officer or other

person sustains or incurs in or about any action, suit or proceedings

which is brought, commenced or prosecuted against them, or in respect of

any act, deed, matter of thing whatsoever, made, done or permitted by

them, in or about the execution of the duties of their office or in

respect of any such liability;

- all other costs, charges and expenses which they sustain or incur in or

about or in relation to the affairs thereof, except such costs, charges

or expenses as are occasioned by their own wilful neglect or default.


Marita


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