BYLAWS Medicon Valley Alliance

Decisions to change the bylaws shall only be valid if 2/3 of all the votes are represented at the General Meeting and if 2/3 of the votes cast as well as of the members entitled to vote who attend the meeting vote in favour of the decision. [...] If the above number of votes are not represented at the General Meeting but the decision is otherwise made on the basis of 2/3 of the votes cast and of the members entitled to vote who attend the General Meeting, the Board of Directors shall convene an extraordinary general meeting within fourteen (14) days at which meeting the proposal may then be adopted if 2/3 of the votes cast and of the membe. [...] The proceedings of the meetings of the Board of Directors shall be recorded in MVA’s minute book which shall be signed by the keeper of the minutes and the Chairman. [...] In an instruction, the Board of Directors shall inform the Manager of the guidelines applying to MVA’s main fields of activity, the division of labour between the Board of Directors and the Manager and the Manager’s powers in financial and, if applicable, other issues. [...] Authority to bind MVA and liability Clause 23 MVA shall be bound by the joint signatures of the Chairman and the Manager, the joint signatures of the Manager and two members of the Board of Directors or the signatures of the full Board of Directors.