<PAGE>

                                        BYLAWS

                                          OF

                             CARDIOTHORACIC SYSTEMS, INC.
                               (A DELAWARE CORPORATION)

                            (AS AMENDED JANUARY 28, 1997)


<PAGE>

                                        BYLAWS

                                          OF

                             CARDIOTHORACIC SYSTEMS, INC.
                               (A DELAWARE CORPORATION)

                            (AS AMENDED JANUARY 28, 1997)


                                  TABLE OF CONTENTS


                                                                            PAGE

ARTICLE I - CORPORATE OFFICES.................................................1

    1.1     REGISTERED OFFICE.................................................1
    1.2     OTHER OFFICES.....................................................1

ARTICLE II - MEETINGS OF STOCKHOLDERS.........................................1

    2.1     PLACE OF MEETINGS.................................................1
    2.2     ANNUAL MEETING....................................................1
    2.3     SPECIAL MEETING...................................................2
    2.4     NOTICE OF STOCKHOLDERS' MEETINGS..................................2
    2.5     ADVANCE NOTICE OF STOCKHOLDER NOMINEES
            AND STOCKHOLDER BUSINESS..........................................2
    2.6     MANNER OF GIVING NOTICE; AFFIDAVIT OF NOTICE......................3
    2.7     QUORUM............................................................4
    2.8     ADJOURNED MEETING; NOTICE.........................................4
    2.9     VOTING............................................................4
    2.10    STOCKHOLDER ACTION BY WRITTEN CONSENT
            WITHOUT A MEETING.................................................5
    2.11    RECORD DATE FOR STOCKHOLDER NOTICE; VOTING........................5
    2.12    PROXIES...........................................................6
    2.13    ORGANIZATION......................................................6
    2.14    LIST OF STOCKHOLDERS ENTITLED TO VOTE.............................6
    2.15    WAIVER OF NOTICE..................................................7

ARTICLE III - DIRECTORS.......................................................7

    3.1     POWERS............................................................7
    3.2     NUMBER OF DIRECTORS...............................................7
    3.3     ELECTION AND TERM OF OFFICE OF DIRECTORS..........................7
    3.4     RESIGNATION AND VACANCIES.........................................8
    3.5     REMOVAL OF DIRECTORS..............................................9
    3.6     PLACE OF MEETINGS; MEETINGS BY TELEPHONE..........................9


                                         -i-

<PAGE>

                                  TABLE OF CONTENTS

                                     (Continued)

                                                                            PAGE

    3.7     FIRST MEETINGS....................................................9
    3.8     REGULAR MEETINGS..................................................9
    3.9     SPECIAL MEETINGS; NOTICE..........................................9
    3.10    QUORUM...........................................................10
    3.11    WAIVER OF NOTICE.................................................10
    3.12    ADJOURNMENT......................................................10
    3.13    NOTICE OF ADJOURNMENT............................................10
    3.14    BOARD ACTION BY WRITTEN CONSENT WITHOUT
            A MEETING........................................................11
    3.15    FEES AND COMPENSATION OF DIRECTORS...............................11
    3.16    APPROVAL OF LOANS TO OFFICERS....................................11
    3.17    SOLE DIRECTOR PROVIDED BY CERTIFICATE
            OF INCORPORATION.................................................11

ARTICLE IV - COMMITTEES......................................................12

    4.1     COMMITTEES OF DIRECTORS..........................................12
    4.2     MEETINGS AND ACTION OF COMMITTEES................................12
    4.3     COMMITTEE MINUTES................................................13

ARTICLE V - OFFICERS.........................................................13

    5.1     OFFICERS.........................................................13
    5.2     ELECTION OF OFFICERS.............................................13
    5.3     SUBORDINATE OFFICERS.............................................13
    5.4     REMOVAL AND RESIGNATION OF OFFICERS..............................13
    5.5     VACANCIES IN OFFICES.............................................14
    5.6     CHAIRMAN OF THE BOARD............................................14
    5.7     PRESIDENT........................................................14
    5.8     VICE PRESIDENTS..................................................14
    5.9     SECRETARY........................................................15
    5.10    CHIEF FINANCIAL OFFICER..........................................15
    5.11    ASSISTANT SECRETARY..............................................15
    5.12    ADMINISTRATIVE OFFICERS..........................................16
    5.13    AUTHORITY AND DUTIES OF OFFICERS.................................16


                                         -ii-

<PAGE>

                                  TABLE OF CONTENTS

                                     (Continued)

                                                                            PAGE

ARTICLE VI - INDEMNIFICATION OF DIRECTORS, OFFICERS,
            EMPLOYEESAND OTHER AGENTS........................................16

    6.1     INDEMNIFICATION OF DIRECTORS AND OFFICERS........................16
    6.2     INDEMNIFICATION OF OTHERS........................................17
    6.3     INSURANCE........................................................17

ARTICLE VII - RECORDS AND REPORTS............................................18

    7.1     MAINTENANCE AND INSPECTION OF RECORDS............................18
    7.2     INSPECTION BY DIRECTORS..........................................18
    7.3     ANNUAL STATEMENT TO STOCKHOLDERS.................................18
    7.4     REPRESENTATION OF SHARES OF OTHER CORPORATIONS...................18
    7.5     CERTIFICATION AND INSPECTION OF BYLAWS...........................19

ARTICLE VIII - GENERAL MATTERS...............................................19

    8.1     RECORD DATE FOR PURPOSES OTHER THAN
            NOTICE AND VOTING................................................19
    8.2     CHECKS; DRAFTS; EVIDENCES OF INDEBTEDNESS........................19
    8.3     CORPORATE CONTRACTS AND INSTRUMENTS:
            HOW EXECUTED.....................................................19
    8.4     STOCK CERTIFICATES; TRANSFER; PARTLY PAID SHARES.................20
    8.5     SPECIAL DESIGNATION ON CERTIFICATES..............................21
    8.6     LOST CERTIFICATES................................................21
    8.7     TRANSFER AGENTS AND REGISTRARS...................................21
    8.8     CONSTRUCTION; DEFINITIONS........................................21

ARTICLE IX - AMENDMENTS......................................................22


                                        -iii-

<PAGE>

                                        BYLAWS

                                          OF

                             CARDIOTHORACIC SYSTEMS, INC.
                               (a Delaware corporation)

                            (as amended January 28, 1997)

                                      ARTICLE I

                                  CORPORATE OFFICES

    1.1    REGISTERED OFFICE

    The registered office of the corporation shall be fixed in the certificate
of incorporation of the corporation.

    1.2    OTHER OFFICES

    The board of directors may at any time establish branch or subordinate
offices at any place or places where the corporation is qualified to do
business.


                                      ARTICLE II

                               MEETINGS OF STOCKHOLDERS

    2.1    PLACE OF MEETINGS

    Meetings of stockholders shall be held at any place within or outside the
State of Delaware designated by the board of directors.  In the absence of any
such designation, stockholders' meetings shall be held at the principal
executive office of the corporation.

    2.2    ANNUAL MEETING

    The annual meeting of stockholders shall be held each year on a date and at
a time designated by the board of directors.  In the absence of such
designation, the annual meeting of stockholders shall be held on the third
Thursday of May in each year at 10:00 a.m.  However, if such day falls on a
legal holiday, then the meeting shall be held at the same time and place on the
next succeeding full business day.  At the meeting, directors shall be elected,
and any other proper business may be transacted.


<PAGE>

    2.3    SPECIAL MEETING

    A special meeting of the stockholders may be called at any time by the
board of directors, or by the chairman of the board, or by the president.  No
other person or persons are permitted to call a special meeting.

    If a special meeting is called by any person or persons other than the
board of directors, then the request shall be in writing, specifying the time of
such meeting and the general nature of the business proposed to be transacted,
and shall be delivered personally or sent by registered mail or by telegraphic
or other facsimile transmission to the chairman of the board, the president, or
the secretary of the corporation.  The officer receiving the request shall cause
notice to be promptly given to the stockholders entitled to vote, in accordance
with the provisions of Sections 2.4 and 2.6 of these bylaws, that a meeting will
be held at the time requested by the person or persons calling the meeting, so
long as that time is not less than thirty-five (35) nor more than sixty (60)
days after the receipt of the request.  If the notice is not given within twenty
(20) days after receipt of the request, then the person or persons requesting
the meeting may give the notice.  Nothing contained in this paragraph of this
Section 2.3 shall be construed as limiting, fixing or affecting the time when a
meeting of stockholders called by action of the board of directors may be held.

    2.4    NOTICE OF STOCKHOLDERS' MEETINGS

    All notices of meetings of stockholders shall be sent or otherwise given in
accordance with Section 2.6 of these bylaws not less than ten (10) nor more than
sixty (60) days before the date of the meeting.  The notice shall specify the
place, date and hour of the meeting and (i) in the case of a special meeting,
the purpose or purposes for which the meeting is called (no business other than
that specified in the notice may be transacted) or (ii) in the case of the
annual meeting, those matters which the board of directors, at the time of
giving the notice, intends to present for action by the stockholders (but any
proper matter may be presented at the meeting for such action).  The notice of
any meeting at which directors are to be elected shall include the name of any
nominee or nominees who, at the time of the notice, the board intends to present
for election.

    2.5    ADVANCE NOTICE OF STOCKHOLDER NOMINEES AND STOCKHOLDER BUSINESS

    Subject to the rights of holders of any class or series of stock having a
preference over the Common Stock as to dividends or upon liquidation,

    (a)    nominations for the election of directors, and

    (b)    business proposed to be brought before any stockholder meeting

may be made by the board of directors or proxy committee appointed by the board
of directors or by any stockholder entitled to vote in the election of directors
generally if such nomination or business proposed is otherwise proper business
before such meeting.  However, any such stockholder may nominate one or


                                         -2-

<PAGE>

more persons for election as directors at a meeting or propose business to be
brought before a meeting, or both, only if such stockholder has given timely
notice in proper written form of their intent to make such nomination or
nominations or to propose such business.  To be timely, such stockholder's
notice must be delivered to or mailed and received at the principal executive
offices of the corporation not less than one hundred twenty (120) calendar days
in advance of the date specified in the corporation's proxy statement released
to stockholders in connection with the previous year's annual meeting of
stockholders; provided, however, that in the event that no annual meeting was
held in the previous year or the date of the annual meeting has been changed by
more than thirty (30) days from the date contemplated at the time of the
previous year's proxy statement, notice by the stockholder to be timely must be
so received a reasonable time before the solicitation is made.  To be in proper
form, a stockholder's notice to the secretary shall set forth:

    (i)    the name and address of the stockholder who intends to make the
    nominations or propose the business and, as the case may be, of the
    person or persons to be nominated or of the business to be proposed;

    (ii)   a representation that the stockholder is a holder of record of
    stock of the corporation entitled to vote at such meeting and, if
    applicable, intends to appear in person or by proxy at the meeting to
    nominate the person or persons specified in the notice;

    (iii)  if applicable, a description of all arrangements or
    understandings between the stockholder and each nominee and any other
    person or persons (naming such person or persons) pursuant to which
    the nomination or nominations are to be made by the stockholder;

    (iv)   such other information regarding each nominee or each matter of
    business to be proposed by such stockholder as would be required to be
    included in a proxy statement filed pursuant to the proxy rules of the
    Securities and Exchange Commission had the nominee been nominated, or
    intended to be nominated, or the matter been proposed, or intended to
    be proposed by the board of directors; and

    (v)    if applicable, the consent of each nominee to serve as director
    of the corporation if so elected.

    The chairman of the meeting shall refuse to acknowledge the nomination of
any person or the proposal of any business not made in compliance with the
foregoing procedure.

    2.6    MANNER OF GIVING NOTICE; AFFIDAVIT OF NOTICE

    Written notice of any meeting of stockholders shall be given either
personally or by first-class mail or by telegraphic or other written
communication.  Notices not personally delivered shall be sent charges prepaid
and shall be addressed to the stockholder at the address of that stockholder
appearing on the books of the corporation or given by the stockholder to the
corporation for the purpose of notice.  Notice


                                         -3-

<PAGE>

shall be deemed to have been given at the time when delivered personally or
deposited in the mail or sent by telegram or other means of written
communication.

    An affidavit of the mailing or other means of giving any notice of any
stockholders' meeting, executed by the secretary, assistant secretary or any
transfer agent of the corporation giving the notice, shall be prima facie
evidence of the giving of such notice.

    2.7    QUORUM

    The holders of a majority in voting power of the stock issued and
outstanding and entitled to vote thereat, present in person or represented by
proxy, shall constitute a quorum at all meetings of the stockholders for the
transaction of business except as otherwise provided by statute or by the
certificate of incorporation.  If, however, such quorum is not present or
represented at any meeting of the stockholders, then either (i) the chairman of
the meeting or (ii) the stockholders entitled to vote thereat, present in person
or represented by proxy, shall have power to adjourn the meeting in accordance
with Section 2.7 of these bylaws.

    When a quorum is present at any meeting, the vote of the holders of a
majority of the stock having voting power present in person or represented by
proxy shall decide any question brought before such meeting, unless the question
is one upon which, by express provision of the laws of the State of Delaware or
of the certificate of incorporation or these bylaws, a different vote is
required, in which case such express provision shall govern and control the
decision of the question.

    If a quorum be initially present, the stockholders may continue to transact
business until adjournment, notwithstanding the withdrawal of enough
stockholders to leave less than a quorum, if any action taken is approved by a
majority of the stockholders initially constituting the quorum.

    2.8    ADJOURNED MEETING; NOTICE

    When a meeting is adjourned to another time and place, unless these bylaws
otherwise require, notice need not be given of the adjourned meeting if the time
and place thereof are announced at the meeting at which the adjournment is
taken.  At the adjourned meeting the corporation may transact any business that
might have been transacted at the original meeting.  If the adjournment is for
more than thirty (30) days, or if after the adjournment a new record date is
fixed for the adjourned meeting, a notice of the adjourned meeting shall be
given to each stockholder of record entitled to vote at the meeting.

    2.9    VOTING

    The stockholders entitled to vote at any meeting of stockholders shall be
determined in accordance with the provisions of Section 2.11 of these bylaws,
subject to the provisions of Sections 217 and 218 of the General Corporation Law
of Delaware (relating to voting rights of fiduciaries, pledgors and joint
owners, and to voting trusts and other voting agreements).


                                         -4-

<PAGE>

    Except as may be otherwise provided in the certificate of incorporation or
these bylaws, each stockholder shall be entitled to one vote for each share of
capital stock held by such stockholder and stockholders shall not be entitled to
cumulate their votes in the election of directors or with respect to any matter
submitted to a vote of the stockholders.

    Notwithstanding the foregoing, if the stockholders of the corporation are
entitled, pursuant to Sections 2115 and 301.5 of the California Corporations
Code, to cumulate their votes in the election of directors, each such
stockholder shall be entitled to cumulate votes (i.e., cast for any candidate a
number of votes greater than the number of votes that such stockholder normally
is entitled to cast) only if the candidates' names have been properly placed in
nomination (in accordance with these bylaws) prior to commencement of the
voting, and the stockholder requesting cumulative voting has given notice prior
to commencement of the voting of the stockholder's intention to cumulate votes.
If cumulative voting is properly requested, each holder of stock, or of any
class or classes or of a series or series thereof, who elects to cumulate votes
shall be entitled to as many votes as equals the number of votes that (absent
this provision as to cumulative voting) he or she would be entitled to cast for
the election of directors with respect to his or her shares of stock multiplied
by the number of directors to be elected by him, and he or she may cast all of
such votes for a single director or may distribute them among the number to
be voted for, or for any two or more of them, as he or she may see fit.

    2.10   STOCKHOLDER ACTION BY WRITTEN CONSENT WITHOUT A MEETING

    Unless otherwise provided in the Certificate of Incorporation, any action
required or permitted to be taken at any annual or special meeting of
stockholders 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 holders of outstanding stock having not less than the
minimum number of votes that would be necessary to authorize or take such action
at a meeting at which all shares entitled to vote thereon were present and
voted.  Such consents shall be delivered to the corporation by delivery to it
registered office in the state of Delaware, its principal place of business, or
an officer or agent of the corporation having custody of the book in which
proceedings of meetings of stockholders are recorded.  Delivery made to a
corporation's registered office shall be by hand or by certified or registered
mail, return receipt requested.

    2.11   RECORD DATE FOR STOCKHOLDER NOTICE; VOTING

    For purposes of determining the stockholders entitled to notice of any
meeting or to vote thereat, the board of directors may fix, in advance, a record
date, which shall not precede the date upon which the resolution fixing the
record date is adopted by the board of directors and which shall not be more
than sixty (60) days nor less than ten (10) days before the date of any such
meeting, and in such event only stockholders of record on the date so fixed are
entitled to notice and to vote, notwithstanding any transfer of any shares on
the books of the corporation after the record date.

    If the board of directors does not so fix a record date, the record date
for determining stockholders entitled to notice of or to vote at a meeting of
stockholders shall be at the close of business


                                         -5-

<PAGE>

on the business day next preceding the day on which notice is given, or, if
notice is waived, at the close of business on the business day next preceding
the day on which the meeting is held.

    A determination of stockholders of record entitled to notice of or to vote
at a meeting of stockholders shall apply to any adjournment of the meeting
unless the board of directors fixes a new record date for the adjourned meeting,
but the board of directors shall fix a new record date if the meeting is
adjourned for more than thirty (30) days from the date set for the original
meeting.

    The record date for any other purpose shall be as provided in Section 8.1
of these bylaws.

    2.12   PROXIES

    Every person entitled to vote for directors, or on any other matter, shall
have the right to do so either in person or by one or more agents authorized by
a written proxy signed by the person and filed with the secretary of the
corporation, but no such proxy shall be voted or acted upon after three (3)
years from its date, unless the proxy provides for a longer period.  A proxy
shall be deemed signed if the stockholder's name is placed on the proxy (whether
by manual signature, typewriting, telegraphic transmission, telefacsimile or
otherwise) by the stockholder or the stockholder's attorney-in-fact.  The
revocability of a proxy that states on its face that it is irrevocable shall be
governed by the provisions of Section 212(e) of the General Corporation Law of
Delaware.

    2.13   ORGANIZATION

    The president, or in the absence of the president, the chairman of the
board, or, in the absence of the president and the chairman of the board, one of
the corporation's vice presidents, shall call the meeting of the stockholders to
order, and shall act as chairman of the meeting.  In the absence of the
president, the chairman of the board, and all of the vice presidents, the
stockholders shall appoint a chairman for such meeting.  The chairman of any
meeting of stockholders shall determine the order of business and the procedures
at the meeting, including such matters as the regulation of the manner of voting
and the conduct of business.  The secretary of the corporation shall act as
secretary of all meetings of the stockholders, but in the absence of the
secretary at any meeting of the stockholders, the chairman of the meeting may
appoint any person to act as secretary of the meeting.

    2.14   LIST OF STOCKHOLDERS ENTITLED TO VOTE

    The officer who has charge of the stock ledger of the corporation shall
prepare and make, at least ten (10) days before every meeting of stockholders, a
complete list of the stockholders entitled to vote at the meeting, arranged in
alphabetical order, and showing the address of each stockholder and the number
of shares registered in the name of each stockholder.  Such list shall be open
to the examination of any stockholder, for any purpose germane to the meeting,
during ordinary business hours, for a period of at least ten (10) days prior to
the meeting, either at a place within the city where the meeting is to be held,
which place shall be specified in the notice of the meeting, or, if not so
specified, at the place where the meeting is to be held.  The list shall also be
produced and kept at the time and place of the meeting during the whole time
thereof, and may be inspected by any stockholder who is present.


                                         -6-

<PAGE>

    2.15   WAIVER OF NOTICE

    Whenever notice is required to be given under any provision of the General
Corporation Law of Delaware or of the certificate of incorporation or these
bylaws, a written waiver thereof, signed by the person entitled to notice,
whether before or after the time stated therein, shall be deemed equivalent to
notice.  Attendance of a person at a meeting shall constitute a waiver of notice
of such meeting, except when the person attends a meeting for the express
purpose of objecting, at the beginning of the meeting, to the transaction of any
business because the meeting is not lawfully called or convened.  Neither the
business to be transacted at, nor the purpose of, any regular or special meeting
of the stockholders need be specified in any written waiver of notice unless so
required by the certificate of incorporation or these bylaws.


                                     ARTICLE III

                                      DIRECTORS

    3.1    POWERS

    Subject to the provisions of the General Corporation Law of Delaware and to
any limitations in the certificate of incorporation or these bylaws relating to
action required to be approved by the stockholders or by the outstanding shares,
the business and affairs of the corporation shall be managed and all corporate
powers shall be exercised by or under the direction of the board of directors.


    3.2    NUMBER OF DIRECTORS

    The board of directors shall be not less than four (4) nor more than eight
(8) members.  The exact number of directors shall be eight (8) until changed,
within the limits specified above by a bylaw amending this Section 3.2 duly
adopted by the board of directors or by the stockholders.  The indefinite number
of directors may be changed, or a definite number may be fixed without provision
for an indefinite number, by an amendment to this bylaw, duly adopted by the
board of directors or by the stockholders, or by a duly adopted amendment to the
certificate of incorporation.

    No reduction of the authorized number of directors shall have the effect of
removing any director before that director's term of office expires.

    3.3    ELECTION AND TERM OF OFFICE OF DIRECTORS

    Except as provided in Section 3.4 of these bylaws, directors shall be
elected at each annual meeting of stockholders to hold office until the next
annual meeting. Each director, including a director elected or appointed to fill
a vacancy, shall hold office until the expiration of the term for which elected
and until a successor has been elected and qualified.


                                         -7-

<PAGE>

    3.4    RESIGNATION AND VACANCIES

    Any director may resign effective on giving written notice to the chairman
of the board, the president, the secretary or the board of directors, unless the
notice specifies a later time for that resignation to become effective.  If the
resignation of a director is effective at a future time, the board of directors
may elect a successor to take office when the resignation becomes effective.

    Vacancies in the board of directors may be filled by a majority of the
remaining directors, even if less than a quorum, or by a sole remaining
director; however, a vacancy created by the removal of a director by the vote of
the stockholders or by court order may be filled only by the affirmative vote of
a majority of the shares represented and voting at a duly held meeting at which
a quorum is present (which shares voting affirmatively also constitute a
majority of the required quorum).  Each director so elected shall hold office
until the next annual meeting of the stockholders and until a successor has been
elected and qualified.

    Unless otherwise provided in the certificate of incorporation or these
bylaws:

           (i)     Vacancies and newly created directorships resulting from any
increase in the authorized number of directors elected by all of the
stockholders having the right to vote as a single class may be filled by a
majority of the directors then in office, although less than a quorum, or by a
sole remaining director.

           (ii)    Whenever the holders of any class or classes of stock or
series thereof are entitled to elect one or more directors by the provisions of
the certificate of incorporation, vacancies and newly created directorships of
such class or classes or series may be filled by a majority of the directors
elected by such class or classes or series thereof then in office, or by a sole
remaining director so elected.

    If at any time, by reason of death or resignation or other cause, the
corporation should have no directors in office, then any officer or any
stockholder or an executor, administrator, trustee or guardian of a stockholder,
or other fiduciary entrusted with like responsibility for the person or estate
of a stockholder, may call a special meeting of stockholders in accordance with
the provisions of the certificate of incorporation or these bylaws, or may apply
to the Court of Chancery for a decree summarily ordering an election as provided
in Section 211 of the General Corporation Law of Delaware.

    If, at the time of filling any vacancy or any newly created directorship,
the directors then in office constitute less than a majority of the whole board
(as constituted immediately prior to any such increase), then the Court of
Chancery may, upon application of any stockholder or stockholders holding at
least ten (10) percent of the total number of the shares at the time outstanding
having the right to vote for such directors, summarily order an election to be
held to fill any such vacancies or newly created directorships, or to replace
the directors chosen by the directors then in office as aforesaid, which
election shall be governed by the provisions of Section 211 of the General
Corporation Law of Delaware as far as applicable.


                                         -8-

<PAGE>

    3.5    REMOVAL OF DIRECTORS

    Unless otherwise restricted by statute, by the certificate of incorporation
or by these bylaws, any director or the entire board of directors may be
removed, with or without cause, by the holders of a majority of the shares then
entitled to vote at an election of directors; provided, however, that, if and so
long as stockholders of the corporation are entitled to cumulative voting, if
less than the entire board is to be removed, no director may be removed without
cause if the votes cast against his removal would be sufficient to elect him if
then cumulatively voted at an election of the entire board of directors.

    3.6    PLACE OF MEETINGS; MEETINGS BY TELEPHONE

    Regular meetings of the board of directors may be held at any place within
or outside the State of Delaware that has been designated from time to time by
resolution of the board.  In the absence of such a designation, regular meetings
shall be held at the principal executive office of the corporation.  Special
meetings of the board may be held at any place within or outside the State of
Delaware that has been designated in the notice of the meeting or, if not stated
in the notice or if there is no notice, at the principal executive office of the
corporation.

    Any meeting of the board, regular or special, may be held by conference
telephone or similar communication equipment, so long as all directors
participating in the meeting can hear one another; and all such participating
directors shall be deemed to be present in person at the meeting.

    3.7    FIRST MEETINGS

    The first meeting of each newly elected board of directors shall be held at
such time and place as shall be fixed by the vote of the stockholders at the
annual meeting.  In the event of the failure of the stockholders to fix the time
or place of such first meeting of the newly elected board of directors, or in
the event such meeting is not held at the time and place so fixed by the
stockholders, the meeting may be held at such time and place as shall be
specified in a notice given as hereinafter provided for special meetings of the
board of directors, or as shall be specified in a written waiver signed by all
of the directors.

    3.8    REGULAR MEETINGS

    Regular meetings of the board of directors may be held without notice at
such time as shall from time to time be determined by the board of directors.
If any regular meeting day shall fall on a legal holiday, then the meeting shall
be held at the same time and place on the next succeeding full business day.

    3.9    SPECIAL MEETINGS; NOTICE

    Special meetings of the board of directors for any purpose or purposes may
be called at any time by the chairman of the board, the president, any vice
president, the secretary or any two directors.


                                         -9-

<PAGE>

    Notice of the time and place of special meetings shall be delivered
personally or by telephone to each director or sent by first-class mail,
telecopy or telegram, charges prepaid, addressed to each director at that
director's address as it is shown on the records of the corporation.  If the
notice is mailed, it shall be deposited in the United States mail at least four
(4) days before the time of the holding of the meeting.  If the notice is
delivered personally or by telephone, telecopy or telegram, it shall be
delivered personally or by telephone or to the telegraph company at least
forty-eight (48) hours before the time of the holding of the meeting.  Any oral
notice given personally or by telephone may be communicated either to the
director or to a person at the office of the director who the person giving the
notice has reason to believe will promptly communicate it to the director.  The
notice need not specify the purpose or the place of the meeting, if the meeting
is to be held at the principal executive office of the corporation.

    3.10   QUORUM

    A majority of the authorized number of directors shall constitute a quorum
for the transaction of business, except to adjourn as provided in Section 3.12
of these bylaws.  Every act or decision done or made by a majority of the
directors present at a duly held meeting at which a quorum is present shall be
regarded as the act of the board of directors, subject to the provisions of the
certificate of incorporation and applicable law.

    A meeting at which a quorum is initially present may continue to transact
business notwithstanding the withdrawal of directors, if any action taken is
approved by at least a majority of the quorum for that meeting.


    3.11   WAIVER OF NOTICE

    Notice of a meeting need not be given to any director (i) who signs a
waiver of notice, whether before or after the meeting, or (ii) who attends the
meeting other than for the express purposed of objecting at the beginning of the
meeting to the transaction of any business because the meeting is not lawfully
called or convened.  All such waivers shall be filed with the corporate records
or made part of the minutes of the meeting.  A waiver of notice need not specify
the purpose of any regular or special meeting of the board of directors.

    3.12   ADJOURNMENT

    A majority of the directors present, whether or not constituting a quorum,
may adjourn any meeting of the board to another time and place.

    3.13   NOTICE OF ADJOURNMENT

    Notice of the time and place of holding an adjourned meeting of the board
need not be given unless the meeting is adjourned for more than twenty-four (24)
hours.  If the meeting is adjourned for more than twenty-four (24) hours, then
notice of the time and place of the adjourned meeting shall be


                                         -10-

<PAGE>

given before the adjourned meeting takes place, in the manner specified in
Section 3.9 of these bylaws, to the directors who were not present at the time
of the adjournment.

    3.14   BOARD ACTION BY WRITTEN CONSENT WITHOUT A MEETING

    Any action required or permitted to be taken by the board of directors may
be taken without a meeting, provided that all members of the board individually
or collectively consent in writing to that action.  Such action by written
consent shall have the same force and effect as a unanimous vote of the board of
directors. Such written consent and any counterparts thereof shall be filed with
the minutes of the proceedings of the board of directors.

    3.15   FEES AND COMPENSATION OF DIRECTORS

    Directors and members of committees may receive such compensation, if any,
for their services and such reimbursement of expenses as may be fixed or
determined by resolution of the board of directors.  This Section 3.15 shall not
be construed to preclude any director from serving the corporation in any other
capacity as an officer, agent, employee or otherwise and receiving compensation
for those services.

    3.16   APPROVAL OF LOANS TO OFFICERS

    The corporation may lend money to, or guarantee any obligation of, or
otherwise assist any officer or other employee of the corporation or any of its
subsidiaries, including any officer or employee who is a director of the
corporation or any of its subsidiaries, whenever, in the judgment of the
directors, such loan, guaranty or assistance may reasonably be expected to
benefit the corporation.  The loan, guaranty or other assistance may be with or
without interest and may be unsecured, or secured in such manner as the board of
directors shall approve, including, without limitation, a pledge of shares of
stock of the corporation.  Nothing contained in this section shall be deemed to
deny, limit or restrict the powers of guaranty or warranty of the corporation at
common law or under any statute.

    3.17   SOLE DIRECTOR PROVIDED BY CERTIFICATE OF INCORPORATION

    In the event only one director is required by these bylaws or the
certificate of incorporation, then any reference herein to notices, waivers,
consents, meetings or other actions by a majority or quorum of the directors
shall be deemed to refer to such notice, waiver, etc., by such sole director,
who shall have all the rights and duties and shall be entitled to exercise all
of the powers and shall assume all the responsibilities otherwise herein
described as given to the board of directors.


                                         -11-

<PAGE>

                                      ARTICLE IV

                                      COMMITTEES

    4.1    COMMITTEES OF DIRECTORS

    The board of directors may, by resolution adopted by a majority of the
authorized number of directors, designate one (1) or more committees, each
consisting of two or more directors, to serve at the pleasure of the board.  The
board may designate one (1) or more directors as alternate members of any
committee, who may replace any absent or disqualified member at any meeting of
the committee.  The appointment of members or alternate members of a committee
requires the vote of a majority of the authorized number of directors.  Any
committee, to the extent provided in the resolution of the board, shall have and
may exercise all the powers and authority of the board, but no such committee
shall have the power or authority to (i) amend the certificate of incorporation
(except that a committee may, to the extent authorized in the resolution or
resolutions providing for the issuance of shares of stock adopted by the board
of directors as provided in Section 151(a) of the General Corporation Law of
Delaware, fix the designations and any of the preferences or rights of such
shares relating to dividends, redemption, dissolution, any distribution of
assets of the corporation or the conversion into, or the exchange of such shares
for, shares of any other class or classes or any other series of the same or any
other class or classes of stock of the corporation), (ii) adopt an agreement of
merger or consolidation under Sections 251 or 252 of the General Corporation Law
of Delaware, (iii) recommend to the stockholders the sale, lease or exchange of
all or substantially all of the corporation's property and assets,
(iv) recommend to the stockholders a dissolution of the corporation or a
revocation of a dissolution or (v) amend the bylaws of the corporation; and,
unless the board resolution establishing the committee, the bylaws or the
certificate of incorporation expressly so provide, no such committee shall have
the power or authority to declare a dividend, to authorize the issuance of
stock, or to adopt a certificate of ownership and merger pursuant to Section 253
of the General Corporation Law of Delaware.

    4.2    MEETINGS AND ACTION OF COMMITTEES

    Meetings and actions of committees shall be governed by, and held and taken
in accordance with, the following provisions of Article III of these bylaws:
Section 3.6 (place of meetings; meetings by telephone), Section 3.8 (regular
meetings), Section 3.9 (special meetings; notice), Section 3.10 (quorum),
Section 3.11 (waiver of notice), Section 3.12 (adjournment), Section 3.13
(notice of adjournment) and Section 3.14 (board action by written consent
without meeting), with such changes in the context of those bylaws as are
necessary to substitute the committee and its members for the board of directors
and its members; provided, however, that the time of regular meetings of
committees may be determined either by resolution of the board of directors or
by resolution of the committee, that special meetings of committees may also be
called by resolution of the board of directors, and that notice of special
meetings of committees shall also be given to all alternate members, who shall
have the right to attend all meetings of the committee.  The board of directors
may adopt rules for the government of any committee not inconsistent with the
provisions of these bylaws.


                                         -12-

<PAGE>

    4.3    COMMITTEE MINUTES

    Each committee shall keep regular minutes of its meetings and report the
same to the board of directors when required.


                                      ARTICLE V

                                       OFFICERS

    5.1    OFFICERS

    The Corporate Officers of the corporation shall be a president, a secretary
and a chief financial officer.  The corporation may also have, at the discretion
of the board of directors, a chairman of the board, one or more vice presidents
(however denominated), one or more assistant secretaries, a treasurer and one or
more assistant treasurers, and such other officers as may be appointed in
accordance with the provisions of Section 5.3 of these bylaws.  Any number of
offices may be held by the same person.

    In addition to the Corporate Officers of the Company described above, there
may also be such Administrative Officers of the corporation as may be designated
and appointed from time to time by the president of the corporation in
accordance with the provisions of Section 5.12 of these bylaws.

    5.2    ELECTION OF OFFICERS

    The Corporate Officers of the corporation, except such officers as may be
appointed in accordance with the provisions of Section 5.3 or Section 5.5 of
these bylaws, shall be chosen by the board of directors, subject to the rights,
if any, of an officer under any contract of employment, and shall hold their
respective offices for such terms as the board of directors may from time to
time determine.

    5.3    SUBORDINATE OFFICERS

    The board of directors may appoint, or may empower the president to
appoint, such other Corporate Officers as the business of the corporation may
require, each of whom shall hold office for such period, have such power and
authority, and perform such duties as are provided in these bylaws or as the
board of directors may from time to time determine.

    The president may from time to time designate and appoint Administrative
Officers of the corporation in accordance with the provisions of Section 5.12 of
these bylaws.

    5.4    REMOVAL AND RESIGNATION OF OFFICERS

    Subject to the rights, if any, of a Corporate Officer under any contract of
employment, any Corporate Officer may be removed, either with or without cause,
by the board of directors at any regular


                                         -13-

<PAGE>

or special meeting of the board or, except in case of a Corporate Officer chosen
by the board of directors, by any Corporate Officer upon whom such power of
removal may be conferred by the board of directors.

    Any Corporate Officer may resign at any time by giving written notice to
the corporation.  Any resignation shall take effect at the date of the receipt
of that notice or at any later time specified in that notice; and, unless
otherwise specified in that notice, the acceptance of the resignation shall not
be necessary to make it effective.  Any resignation is without prejudice to the
rights, if any, of the corporation under any contract to which the Corporate
Officer is a party.

    Any Administrative Officer designated and appointed by the president may be
removed, either with or without cause, at any time by the president.  Any
Administrative Officer may resign at any time by giving written notice to the
president or to the secretary of the corporation.

    5.5    VACANCIES IN OFFICES

    A vacancy in any office because of death, resignation, removal,
disqualification or any other cause shall be filled in the manner prescribed in
these bylaws for regular appointments to that office.

    5.6    CHAIRMAN OF THE BOARD

    The chairman of the board, if such an officer be elected, shall, if
present, preside at meetings of the board of directors and exercise such other
powers and perform such other duties as may from time to time be assigned to him
by the board of directors or as may be prescribed by these bylaws.  If there is
no president, then the chairman of the board shall also be the chief executive
officer of the corporation and shall have the powers and duties prescribed in
Section 5.7 of these bylaws.

    5.7    PRESIDENT

    Subject to such supervisory powers, if any, as may be given by the board of
directors to the chairman of the board, if there be such an officer, the
president shall be the chief executive officer of the corporation and shall,
subject to the control of the board of directors, have general supervision,
direction and control of the business and the officers of the corporation.  He
or she shall preside at all meetings of the stockholders and, in the absence or
nonexistence of a chairman of the board, at all meetings of the board of
directors.  He or she shall have the general powers and duties of management
usually vested in the office of president of a corporation, and shall have such
other powers and perform such other duties as may be prescribed by the board of
directors or these bylaws.

    5.8    VICE PRESIDENTS

    In the absence or disability of the president, and if there is no chairman
of the board, the vice presidents, if any, in order of their rank as fixed by
the board of directors or, if not ranked, a vice president designated by the
board of directors, shall perform all the duties of the president and when so
acting shall have all the powers of, and be subject to all the restrictions
upon, the president.  The vice presidents shall have such other powers and
perform such other duties as from time to time may be


                                         -14-

<PAGE>

prescribed for them respectively by the board of directors, these bylaws, the
president or the chairman of the board.

    5.9    SECRETARY

    The secretary shall keep or cause to be kept, at the principal executive
office of the corporation or such other place as the board of directors may
direct, a book of minutes of all meetings and actions of the board of directors,
committees of directors and stockholders.  The minutes shall show the time and
place of each meeting, whether regular or special (and, if special, how
authorized and the notice given), the names of those present at directors'
meetings or committee meetings, the number of shares present or represented at
stockholders' meetings and the proceedings thereof.

    The secretary shall keep, or cause to be kept, at the principal executive
office of the corporation or at the office of the corporation's transfer agent
or registrar, as determined by resolution of the board of directors, a share
register or a duplicate share register, showing the names of all stockholders
and their addresses, the number and classes of shares held by each, the number
and date of certificates evidencing such shares and the number and date of
cancellation of every certificate surrendered for cancellation.

    The secretary shall give, or cause to be given, notice of all meetings of
the stockholders and of the board of directors required to be given by law or by
these bylaws.  He or she shall keep the seal of the corporation, if one be
adopted, in safe custody and shall have such other powers and perform such other
duties as may be prescribed by the board of directors or by these bylaws.

    5.10   CHIEF FINANCIAL OFFICER

    The chief financial officer shall keep and maintain, or cause to be kept
and maintained, adequate and correct books and records of accounts of the
properties and business transactions of the corporation, including accounts of
its assets, liabilities, receipts, disbursements, gains, losses, capital,
retained earnings and shares.  The books of account shall at all reasonable
times be open to inspection by any director for a purpose reasonably related to
his position as a director.

    The chief financial officer shall deposit all money and other valuables in
the name and to the credit of the corporation with such depositaries as may be
designated by the board of directors. He or she shall disburse the funds of the
corporation as may be ordered by the board of directors, shall render to the
president and directors, whenever they request it, an account of all of his or
her transactions as chief financial officer and of the financial condition of
the corporation, and shall have such other powers and perform such other duties
as may be prescribed by the board of directors or these bylaws.

    5.11   ASSISTANT SECRETARY

    The assistant secretary, if any, or, if there is more than one, the
assistant secretaries in the order determined by the board of directors (or if
there be no such determination, then in the order of their election) shall, in
the absence of the secretary or in the event of his or her inability or refusal
to act,


                                         -15-

<PAGE>

perform the duties and exercise the powers of the secretary and shall perform
such other duties and have such other powers as the board of directors may from
time to time prescribe.

    5.12   ADMINISTRATIVE OFFICERS

    In addition to the Corporate Officers of the corporation as provided in
Section 5.1 of these bylaws and such subordinate Corporate Officers as may be
appointed in accordance with Section 5.3 of these bylaws, there may also be such
Administrative Officers of the corporation as may be designated and appointed
from time to time by the president of the corporation.  Administrative Officers
shall perform such duties and have such powers as from time to time may be
determined by the president or the board of directors in order to assist the
Corporate Officers in the furtherance of their duties.  In the performance of
such duties and the exercise of such powers, however, such Administrative
Officers shall have limited authority to act on behalf of the corporation as the
board of directors shall establish, including but not limited to limitations on
the dollar amount and on the scope of agreements or commitments that may be made
by such Administrative Officers on behalf of the corporation, which limitations
may not be exceeded by such individuals or altered by the president without
further approval by the board of directors.

    5.13   AUTHORITY AND DUTIES OF OFFICERS

    In addition to the foregoing powers, authority and duties, all officers of
the corporation shall respectively have such authority and powers and perform
such duties in the management of the business of the corporation as may be
designated from time to time by the board of directors.


                                      ARTICLE VI

                  INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES
                                   AND OTHER AGENTS

    6.1    INDEMNIFICATION OF DIRECTORS AND OFFICERS

    The corporation shall, to the maximum extent and in the manner permitted by
the General Corporation Law of Delaware as the same now exists or may hereafter
be amended, indemnify any person against expenses (including attorneys' fees),
judgments, fines, and amounts paid in settlement actually and reasonably
incurred in connection with any threatened, pending or completed action, suit,
or proceeding in which such person was or is a party or is threatened to be made
a party by reason of the fact that such person is or was a director or officer
of the corporation.  For purposes of this Section 6.1, a "director" or "officer"
of the corporation shall mean any person (i) who is or was a director or officer
of the corporation, (ii) who is or was serving at the request of the corporation
as a director or officer of another corporation, partnership, joint venture,
trust or other enterprise, or (iii) who was a director or officer of a
corporation which was a predecessor corporation of the corporation or of another
enterprise at the request of such predecessor corporation.


                                         -16-

<PAGE>

    The corporation shall be required to indemnify a director or officer in
connection with an action, suit, or proceeding (or part thereof) initiated by
such director or officer only if the initiation of such action, suit, or
proceeding (or part thereof) by the director or officer was authorized by the
Board of Directors of the corporation.

    The corporation shall pay the expenses (including attorney's fees) incurred
by a director or officer of the corporation entitled to indemnification
hereunder in defending any action, suit or proceeding referred to in this
Section 6.1 in advance of its final disposition; provided, however, that payment
of expenses incurred by a director or officer of the corporation in advance of
the final disposition of such action, suit or proceeding shall be made only upon
receipt of an undertaking by the director or officer to repay all amounts
advanced if it should ultimately be determined that the director of officer is
not entitled to be indemnified under this Section 6.1 or otherwise.

    The rights conferred on any person by this Article shall not be exclusive
of any other rights which such person may have or hereafter acquire under any
statute, provision of the corporation's Certificate of Incorporation, these
bylaws, agreement, vote of the stockholders or disinterested directors or
otherwise.

    Any repeal or modification of the foregoing provisions of this Article
shall not adversely affect any right or protection hereunder of any person in
respect of any act or omission occurring prior to the time of such repeal or
modification.

    6.2    INDEMNIFICATION OF OTHERS

    The corporation shall have the power, to the maximum extent and in the
manner permitted by the General Corporation Law of Delaware as the same now
exists or may hereafter be amended, to indemnify any person (other than
directors and officers) against expenses (including attorneys' fees), judgments,
fines, and amounts paid in settlement actually and reasonably incurred in
connection with any threatened, pending or completed action, suit, or
proceeding, in which such person was or is a party or is threatened to be made a
party by reason of the fact that such person is or was an employee or agent of
the corporation.  For purposes of this Section 6.2, an "employee" or "agent" of
the corporation (other than a director or officer) shall mean any person (i) who
is or was an employee or agent of the corporation, (ii) who is or was serving at
the request of the corporation as an employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, or (iii) who was an
employee or agent of a corporation which was a predecessor corporation of the
corporation or of another enterprise at the request of such predecessor
corporation.

    6.3    INSURANCE

    The corporation may purchase and maintain insurance on behalf of any person
who is or was a director, officer, employee or agent of the corporation, or is
or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise against any liability asserted against him or her and incurred
by him or her in any such capacity, or arising out of his or her status as such,
whether or not the corporation would have the power to indemnify him or her
against such liability under the provisions of the General Corporation Law of
Delaware.


                                         -17-

<PAGE>

                                     ARTICLE VII

                                 RECORDS AND REPORTS

    7.1    MAINTENANCE AND INSPECTION OF RECORDS

    The corporation shall, either at its principal executive office or at such
place or places as designated by the board of directors, keep a record of its
stockholders listing their names and addresses and the number and class of
shares held by each stockholder, a copy of these bylaws as amended to date,
accounting books and other records of its business and properties.

    Any stockholder of record, in person or by attorney or other agent, shall,
upon written demand under oath stating the purpose thereof, have the right
during the usual hours for business to inspect for any proper purpose the
corporation's stock ledger, a list of its stockholders, and its other books and
records and to make copies or extracts therefrom.  A proper purpose shall mean a
purpose reasonably related to such person's interest as a stockholder.  In every
instance where an attorney or other agent is the person who seeks the right to
inspection, the demand under oath shall be accompanied by a power of attorney or
such other writing that authorizes the attorney or other agent to so act on
behalf of the stockholder. The demand under oath shall be directed to the
corporation at its registered office in Delaware or at its principal place of
business.

    7.2    INSPECTION BY DIRECTORS

    Any director shall have the right to examine (and to make copies of) the
corporation's stock ledger, a list of its stockholders and its other books and
records for a purpose reasonably related to his or her position as a director.

    7.3    ANNUAL STATEMENT TO STOCKHOLDERS

    The board of directors shall present at each annual meeting, and at any
special meeting of the stockholders when called for by vote of the stockholders,
a full and clear statement of the business and condition of the corporation.

    7.4    REPRESENTATION OF SHARES OF OTHER CORPORATIONS

    The chairman of the board, if any, the president, any vice president, the
chief financial officer, the secretary or any assistant secretary of this
corporation, or any other person authorized by the board of directors or the
president or a vice president, is authorized to vote, represent and exercise on
behalf of this corporation all rights incident to any and all shares of the
stock of any other corporation or corporations standing in the name of this
corporation.  The authority herein granted may be exercised


                                         -18-

<PAGE>

either by such person directly or by any other person authorized to do so by
proxy or power of attorney duly executed by such person having the authority.

    7.5    CERTIFICATION AND INSPECTION OF BYLAWS

    The original or a copy of these bylaws, as amended or otherwise altered to
date, certified by the secretary, shall be kept at the corporation's principal
executive office and shall be open to inspection by the stockholders of the
corporation, at all reasonable times during office hours.


                                     ARTICLE VIII

                                   GENERAL MATTERS

    8.1    RECORD DATE FOR PURPOSES OTHER THAN NOTICE AND VOTING

    For purposes of determining the stockholders entitled to receive payment of
any dividend or other distribution or allotment of any rights or the
stockholders entitled to exercise any rights in respect of any change,
conversion or exchange of stock, or for the purpose of any other lawful action,
the board of directors may fix, in advance, a record date, which shall not
precede the date upon which the resolution fixing the record date is adopted and
which shall not be more than sixty (60) days before any such action.  In that
case, only stockholders of record at the close of business on the date so fixed
are entitled to receive the dividend, distribution or allotment of rights, or to
exercise such rights, as the case may be, notwithstanding any transfer of any
shares on the books of the corporation after the record date so fixed, except as
otherwise provided by law.

    If the board of directors does not so fix a record date, then the record
date for determining stockholders for any such purpose shall be at the close of
business on the day on which the board of directors adopts the applicable
resolution.

    8.2    CHECKS; DRAFTS; EVIDENCES OF INDEBTEDNESS

    From time to time, the board of directors shall determine by resolution
which person or persons may sign or endorse all checks, drafts, other orders for
payment of money, notes or other evidences of indebtedness that are issued in
the name of or payable to the corporation, and only the persons so authorized
shall sign or endorse those instruments.

    8.3    CORPORATE CONTRACTS AND INSTRUMENTS:  HOW EXECUTED

    The board of directors, except as otherwise provided in these bylaws, may
authorize and empower any officer or officers, or agent or agents, to enter into
any contract or execute any instrument in the name of and on behalf of the
corporation; such power and authority may be general or confined to specific
instances.  Unless so authorized or ratified by the board of directors or within
the agency power of an officer, no officer, agent or employee shall have any
power or authority to bind the corporation by


                                         -19-

<PAGE>

any contract or engagement or to pledge its credit or to render it liable for
any purpose or for any amount.

    8.4    STOCK CERTIFICATES; TRANSFER; PARTLY PAID SHARES

    The shares of the corporation shall be represented by certificates,
provided that the board of directors of the corporation may provide by
resolution or resolutions that some or all of any or all classes or series of
its stock shall be uncertificated shares.  Any such resolution shall not apply
to shares represented by a certificate until such certificate is surrendered to
the corporation.  Notwithstanding the adoption of such a resolution by the board
of directors, every holder of stock represented by certificates and, upon
request, every holder of uncertificated shares, shall be entitled to have a
certificate signed by, or in the name of the corporation by, the chairman or
vice-chairman of the board of directors, or the president or vice-president, and
by the treasurer or an assistant treasurer, or the secretary or an assistant
secretary of such corporation representing the number of shares registered in
certificate form.  Any or all of the signatures on the certificate may be a
facsimile.  In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate has ceased to be
such officer, transfer agent or registrar before such certificate is issued, it
may be issued by the corporation with the same effect as if he or she were such
officer, transfer agent or registrar at the date of issue.

    Certificates for shares shall be of such form and device as the board of
directors may designate and shall state the name of the record holder of the
shares represented thereby; its number; date of issuance; the number of shares
for which it is issued; a summary statement or reference to the powers,
designations, preferences or other special rights of such stock and the
qualifications, limitations or restrictions of such preferences and/or rights,
if any; a statement or summary of liens, if any; a conspicuous notice of
restrictions upon transfer or registration of transfer, if any; a statement as
to any applicable voting trust agreement; if the shares be assessable, or, if
assessments are collectible by personal action, a plain statement of such facts.

    Upon surrender to the secretary or transfer agent of the corporation of a
certificate for shares duly endorsed or accompanied by proper evidence of
succession, assignment or authority to transfer, it shall be the duty of the
corporation to issue a new certificate to the person entitled thereto, cancel
the old certificate and record the transaction upon its books.

    The corporation may issue the whole or any part of its shares as partly
paid and subject to call for the remainder of the consideration to be paid
therefor.  Upon the face or back of each stock certificate issued to represent
any such partly paid shares, or upon the books and records of the corporation in
the case of uncertificated partly paid shares, the total amount of the
consideration to be paid therefor and the amount paid thereon shall be stated.
Upon the declaration of any dividend on fully paid shares, the corporation shall
declare a dividend upon partly paid shares of the same class, but only upon the
basis of the percentage of the consideration actually paid thereon.


                                         -20-

<PAGE>

    8.5    SPECIAL DESIGNATION ON CERTIFICATES

    If the corporation is authorized to issue more than one class of stock or
more than one series of any class, then the powers, the designations, the
preferences and the relative, participating, optional or other special rights of
each class of stock or series thereof and the qualifications, limitations or
restrictions of such preferences and/or rights shall be set forth in full or
summarized on the face or back of the certificate that the corporation shall
issue to represent such class or series of stock; provided, however, that,
except as otherwise provided in Section 202 of the General Corporation Law of
Delaware, in lieu of the foregoing requirements there may be set forth on the
face or back of the certificate that the corporation shall issue to represent
such class or series of stock a statement that the corporation will furnish
without charge to each stockholder who so requests the powers, the designations,
the preferences and the relative, participating, optional or other special
rights of each class of stock or series thereof and the qualifications,
limitations or restrictions of such preferences and/or rights.

    8.6    LOST CERTIFICATES

    Except as provided in this Section 8.6, no new certificates for shares
shall be issued to replace a previously issued certificate unless the latter is
surrendered to the corporation and cancelled at the same time.  The board of
directors may, in case any share certificate or certificate for any other
security is lost, stolen or destroyed, authorize the issuance of replacement
certificates on such terms and conditions as the board may require; the board
may require indemnification of the corporation secured by a bond or other
adequate security sufficient to protect the corporation against any claim that
may be made against it, including any expense or liability, on account of the
alleged loss, theft or destruction of the certificate or the issuance of the
replacement certificate.

    8.7    TRANSFER AGENTS AND REGISTRARS

    The board of directors may appoint one or more transfer agents or transfer
clerks, and one or more registrars, each of which shall be an incorporated bank
or trust company -- either domestic or foreign, who shall be appointed at such
times and places as the requirements of the corporation may necessitate and the
board of directors may designate.

    8.8    CONSTRUCTION; DEFINITIONS

    Unless the context requires otherwise, the general provisions, rules of
construction and definitions in the General Corporation Law of Delaware shall
govern the construction of these bylaws.  Without limiting the generality of
this provision, as used in these bylaws, the singular number includes the
plural, the plural number includes the singular, and the term "person" includes
both an entity and a natural person.


                                         -21-

<PAGE>

                                      ARTICLE IX

                                      AMENDMENTS

    The original or other bylaws of the corporation may be adopted, amended or
repealed by the stockholders entitled to vote or by the board of directors of
the corporation.  The fact that such power has been so conferred upon the
directors shall not divest the stockholders of the power, nor limit their power
to adopt, amend or repeal bylaws.

    Whenever an amendment or new bylaw is adopted, it shall be copied in the
book of bylaws with the original bylaws, in the appropriate place.  If any bylaw
is repealed, the fact of repeal with the date of the meeting at which the repeal
was enacted or the filing of the operative written consent(s) shall be stated in
said book.


                                         -22-

<PAGE>

                          CERTIFICATE OF ADOPTION OF BYLAWS

                                          OF

                             CARDIOTHORACIC SYSTEMS, INC.


                               ADOPTION BY INCORPORATOR


    The undersigned person appointed in the Certificate of Incorporation to act
as the Incorporator of CardioThoracic Systems, Inc. hereby adopts the foregoing
bylaws, comprising twenty-three (23) pages, as the Bylaws of the corporation.

    Effective as of February 20, 1996.




                                  ------------------------------
                                  Jason M. Brady
                                  Incorporator



                 Certificate by Secretary of Adoption by Incorporator


    The undersigned hereby certifies that he is the duly elected, qualified,
and acting Secretary of CardioThoracic Systems, Inc. and that the foregoing
Bylaws, comprising twenty-three (23) pages, were adopted as the Bylaws of the
corporation effective as of February 20, 1996, by the person appointed in the
Certificate of Incorporation to act as the Incorporator of the corporation.

    IN WITNESS WHEREOF, the undersigned has hereunto set his hand and affixed
the corporate seal this 20th day of February , 1996.




                                  ------------------------------
                                  Susan W. Vican
                                  Secretary


                                         -23-