Document:

Exhibit 4.2

 

1+1 Industry   Canada Industria Canada Date orAmendment (Y_,Y.,..,.Y,..,.Y,...,.&...M,...,.,M...   -DD) Canada Certificate of Amendment Certificat de modification Canada   Business Corporations Act Lol canadlenne sur les socletes par actions AETERNA   ZENTARIS INC. Corporate n11111c I Denomination sociale 264271-9 Corporation   number I Numero de societe I HEREBY CERTIFY that the articles of the JE   CERTIFIE que les statuts de Ia societe above named corporation are amended   under susmentionnee sont modifies aux termes de section 178 of the Canada   Business !'article 178 de Ia Loi canadienne sur les Corporations Act as set   out in the attached socifltes par actions, tel qu'il est indique dans les   articles of amendment. clauses modificatrices ci jointes. Marcie Girouard   Director I Direcleur 2012-10-02 Date de modification (AAAA-MM-JJ) 

    

 

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•••Industry   Industria Canada Canada Canada Certificate of Amendment Certificat de   modification Canada Business Corporations Act Lol canadienne sur les socletes   par actions AETERNA ZENTARIS INC. Corporate name I Denomination socialc   264271-9 Corporation number I Numcro de societe I HEREBY CERTIFY that the   articles of theJE CERTIFIE que les statuts de Ia societe above-named   corporation are amended undersusmentionnee sont modifies aux termes de   section 178 of the Canada Business !'article 178 de Ia Loi canadienne sur /es   Corporations Act as set out in the attached societes par actions, tel qu'il   est indique dans les articles of amendment. clauses modificatrices   ci-jointes. Virginie Ethier Director I Directeur 2015-11-17 Date of Amendment   (YYYY-MM-DD) Date de modification (MAA-MM-JJ) 

    

 

1+1 Canada   Industry lndustrie Canada Form4 Articles of Amendment Canada Business   Corporations Act (CBCA) (s. 27 or 177) Formulaire 4 Clauses modificatrices   Loi canadienne sur /es socif}tf}s par actions (LCSA) {at1. 27 ou 177)   OJCorporate name Denomination sociale AETERNA ZENTARIS INC. 0Corporntion   number Num<..de Ia societe 264271-9 [}] The articles arc amended as   follows Les statuts sont modifies de Ia fa on sui\lante See attached schedule   I Voir l'annexe ci-jointe [I}Declaration: I cenify that I am a di rector or   an officer of the corporntion. Declaration :J'altestc que jc suis un admi   nistrutcu r o u u n dirigca n t de Ia societe, Original signed by I   Originalsigne par Philip A. Theodore Philip A. Theodore 843-900-3211   M1snpresentalJOft consut•esn ofTcncc and, an s\IJMW\ co1n1t'UCW\. apenan 11   lr•ble-lo • fine not nc.etdm& SSt;QJOt to impnsonman ror ••mn not   atriAIIl\ mon\hs or both (s JI:ts«bon lS4l (lloCiheCIIC'Al s d d·.-empn fauer   sc Mdantion eoN\IIUC me tnft¥Uon l't IQft aulcv IW d«<»J.Uon de   culp.abiJut pal ptocidure tonwTUIR. at patlblt d \ftem.a.'unaJe deGOO rowamol   dt"'mou.ou I"..,.do ca p<tnOS(p&rOIDIIh< 250(I)de lllCSAJ   Y o .lt PfO\Idanllnf""""b'"' nq'"oed b) lhe   CBCA Noto thM bolhlhe CIICA and lhe l'tllu.) A<HIIol\ lluunform.tlull\ IO   be dudosod IO lh•l"'bh<. Ia '"" be Sloml   '"pmon>lonfonn>UO<I bani. nUIIIber IC'IPPIMJ.I9 Vous f ssu des   ......,pl<IMIIIJ cucb par lalCSA-II al•n-quo lalCSA d la l.ol   ""I<> rmsct IMnll ('<WJNJ<IJ pmndl<nl quede lth   ...,..."'""""IJ soiml do"il""   au1"'1>11<. lis .....,,11o<la d.1m II Nnqu.de   '"""cr-"p<ftONids nllmbo IC'/PPlJ.(II9 Canada IC 3069   (2008104) 

    

 

Schedule I   Annexe Amendment Schedules I Annexes-ModHicdon The issued and outstanding   common shares in the capital of the Corporation (each, a Common Share) are   hereby consolidated on the basis of one (1) post-consolidation Common Share   for each one hundred (100) pre-consolidation Common Shares. No   fractionalCommon Shares shall be issued upon the consolidation of the issued   and outstanding Common Shares in accordance with the foregoing. All new   Common Shares to be issued upon the issuance of the Certificate of Amendment   shall be rounded down to the nearest whole number of Common Shares and all   fractional Common Shares to which a registered shareholder would otherwise   become entitled as a result of the consolidation will be aggregated and sold   by the Corporation's transfer agent and registrar on the market, with the net   proceeds therefrom being proportionately distributed to registered   shareholders.Exhibit 4.4

 

AETERNA   ZENTARIS INC. (the "Corporation") AMENDED AND RESTATED BY-LAW ONE   MEETINGS OF SHAREHOLDERS AND DIRECTORS,COMMITTEES AND OTHER MATIERS ARTICLE   I. MEETINGS OF SHAREHOLDERS. 1.1 Place. Time and Notice. Meetings of   shareholders of the Corporation shall be held at the registered office of the   Corporation or at such other place and at such time as the board of directors   of the Corporation (the "Board" or the "Board of   Directors"), the Chief Executive Officer or the President may determine,   from time to time. 1.2. Electronic Meetings. If the directors of the   Corporation call a meeting of shareholders pursuant to the laws governing the   Corporation, those directors may determine that the meeting shall be held in   accordance with the regulations, if any, governing the Corporation entirely   by means of telephonic, electronic or other communication facility that   permits all participants to communicate adequately with each other during the   meeting. 1.3. Chairman. Subject to the provisions of any resolution of the Board   of Directors, the Chairman of the Board or, in his absence or inability or   refusal or failure to act, a Vice or Deputy Chairman of the Board or, in his   absence or inability or refusal or failure to act, the President or, in his   absence or inability or refusal or failure to act, the Vice-President or, if   there be more than one Vice­ President, that one of them who may have been   designated for the purpose by the Board of Directors, shall preside at all   meetings of shareholders. All of the foregoing officers may attend such   meetings but no Vice-President shall act as chairman if the Board of   Directors shall have determined that he shall not so act. If all of the   foregoing officers be absent or unable or refuse or fail to act, the persons   present may choose a chairman. The chairman of any meeting of shareholders   shall conduct the procedure thereat in all respects and his decision on all   matters, including, but without in any way limiting the generality of the   foregoing, any question regarding the validity or invalidity of any proxy,   shall be conclusive and binding upon the shareholders. A declaration by the   chairman at any meeting that a resolution has been carried or carried   unanimously or carried by any particular majority or lost or not carried by a   particular majority sh ll be conclusive evidence of such fact. The chairman   of any meeting of shareholders may, in his discretion, order a ballot.   Moreover, any shareholder or its representative, where the shareholder is a   body corporate or an association, or his proxyholder,either before or after   any vote by show of hands, may require a ballot on any question at any time   before the termination of the meeting. A demand for a ballot may be   withdrawn. If at any meeting a ballot is to be taken, it shall be taken in such   manner and either at once or after adjournment as the chairman directs. The   result of a ballot shall be deemed to be a resolution of the meeting at which   the ballot was taken whether or not a vote on a show of hands had previously   been taken on the same question. The chairman of any meeting of shareholders   may appoint up to two (2) persons, who may but need not be directors,   officers, employees or shareholders of the Corporation, to act as scrutineers   at such meeting. 1.4. Quorum. The holder or holders of not less than ten (10)   per cent of the outstanding shares of the Corporation carrying voting rights   at the meeting, presentin person or represented by proxy or by an authorized   representative, shall constitute a quorum. DOCSMTL:5050091\2 1 

    

 

The quorum at   any reconvened meeting of shareholders so adjourned is fixed at one (1)   shareholder present or represented in accordance with this By-law. The   reconvened meeting may then proceed to examine and dispose of the business   for which it was called. 1.5 Voting Rights. At all meetings of shareholders,   every shareholder entitled to vote thereat, whether present in person or by   proxyholder,or, in the case of a body corporate or association by a duly   authorized representative, shall be entitled to one (1) vote for each voting   share; if, however, in virtue of the law or the articles of the Corporation   (the "Articles") another scale of voting rights is fixed with   respect to a particular matter or to another class of shares, such scale of   voting shall be adopted. 1.6 Particulars of Proxies. The directors may also   permit particulars of proxies for use at or in connection with any such   meeting which have been deposited with the Corporation or its agent at a   place other than the place of such meeting to be cabled, telecopied or   telegrammed to the secretary of the Corporation prior to such meeting. In   such event, such proxies, if otherwise in order, shall be valid and any votes   cast in accordance therewith shall be counted. 1.7 Nominations of Directors.   Subject only to the Canada Business Corporations Act (the Act) and the   Articles, only persons who are nominated in accordance with the following   procedures shall be eligible for election as directors of the Corporation.   Nominations of persons for election to the Board may be made at any annual   meeting of shareholders, or at any special meeting of shareholders if one of   the purposes for which the specialmeeting was called was the election of   directors: a. by or at the direction of the Board, including pursuant to a   notice of meeting; b. by or at the direction or request of one or more   shareholders pursuant to a proposal made in accordance with the provisions of   the Act, or a requisition of the shareholders made in accordance with the   provisions of the Act; or c. by any person (a "Nominating   Shareholder"): (A) who, at the close of business on the date of the   giving of the notice provided for below in this Section 1.7 and on the record   date for notice of such meeting, is entered in the securities register as a   holder of one or more shares carrying the right to vote at such meeting or   who beneficially owns shares that are entitled to be voted at such meeting;   and (B) who complies with the notice procedures set forth below in this   Section 1.7. In addition to any other applicable requirements, for a   nomination to be made by a Nominating Shareholder, the Nominating Shareholder   must have given timely notice thereof in proper written form to the Secretary   of the Corporation at the principal executive offices of the Corporation. To   be timely, a Nominating Shareholder's notice to the Secretary of the   Corporation must be made: a. in the case of an annualmeeting of shareholders,   not less than 30 nor more than 65 days prior to the date of the annual   meeting of shareholders; provided, however, that in the event that the annual   meeting of shareholders is to be held on a date that is less than 50 days   after the date on which the first public announcement (the "Notice   Date") of the date of the annual meeting was made, notice by the   Nominating Shareholder may be made not later than the close of business on   the tenth (10th) day following the Notice Date; and b. in the case of a   special meeting (which is not also an annual meeting) of shareholders called   for the purpose of electing directors (whether or not called for other   purposes), not later than the close of business on the fifteenth (15th) day   following the day on which the first public announcement of the date of the   specialmeeting of shareholders was made. DOCSMTL:5050091\2 2 

    

 

c. In no event   shall any adjournment or postponement of a meeting of shareholders or the   announcement thereof commence a new time period for the giving of a   Nominating Shareholder's notice as described above. To be in proper written   form, a Nominating Shareholder's notice to the Secretary of the Corporation   must set forth: a. as to each person whom the Nominating Shareholder proposes   to nominate for election as a director: (A) the name,age, business address   and residential address of the person; (B) the principal occupation or   employment of the person; (C) the class or series and number of shares in the   capital of the Corporation which are controlled or which are owned   beneficially or of record by the person as of the record date for the meeting   of shareholders (if such date shall then have been made publicly available   and shall have occurred) and as of the date of such notice; and (D) any other   information relating to the person that would be required to be disclosed in   a dissident's proxy circular in connection with solicitations of proxies for   election of directors pursuant to the Act and Applicable Securities Laws (as   defined below); and b. as to the Nominating Shareholder giving the notice,   any proxy, contract, arrangement, understanding or relationship pursuant to   which such Nominating Shareholder has a right to vote any shares of the   Corporation and any other information relating to such Nominating Shareholder   that would be required to be made in a dissident's proxy circular in   connection with solicitations of proxies for election of directors pursuant   to the Act and Applicable Securities Laws (as defined below). The Corporation   may require any proposed nominee to furnish such other information as may   reasonably be required by the Corporation to determine the eligibility of   such proposed nominee to serve as an independent director of the Corporation   or that could be material to a reasonable shareholder's understanding of the   independence, or lack thereof, of such proposed nominee. No person shall be   eligible for election as a director of the Corporation unless nominated in   accordance with the provisions of this Section 1.7; provided, however, that   nothing in this Section 1.7 shall be deemed to preclude discussion by a shareholder   (as distinct from the nomination of directors) at a meeting of shareholders   of any matter in respect of which it would have been entitled to submit a   proposal pursuant to the provisions of the Act. The Chairman of the meeting   shall have the power and duty to determine whether a nomination was made in   accordance with the procedures set forth in the foregoing provisions and, if   any proposed nomination is not in compliance with such foregoing provisions,   to declare that such defective nomination shall be disregarded. For purposes   of this Section 1.7: a. "public announcement" shall mean disclosure   in a press release reported by a national news service in Canada, or in a   document publicly filed by the Corporation under its profile on the System of   Electronic Document Analysis and Retrieval at www.sedar.com; and b.   "Applicable Securities Laws" means the applicable securities   legislation of each relevant province of Canada, as amended from time to   time, the rules, regulations and forms made or promulgated under any such   statute and the published national instruments, multilateral instruments,   policies, bulletins and notices of the securities commission and similar   regulatory authority of each province of Canada. Notwithstanding any other   provision of this Section 1.7, notice given to the Secretary of the   Corporation pursuant to this Section 1.7 may only be given by personal   delivery, facsimile transmission or by email (to the Secretary of the   Corporation), and shall be deemed to have been given and made only at the   time it is served by personal delivery, email or sent by facsimile   transmission (provided that receipt of confirmation of such transmission has   been received) to the Secretary at the address of the principal executive   offices of the Corporation; provided that if such delivery or electronic   DOCSMTL:5050091\2 3 

    

 

communication   is made on a day which is a not a business day or later than 5:00 p.m.   (Quebec time) on a day which is a business day, then such delivery or   electronic communication shall be deemed to have been made on the subsequent   day that is a business day. Notwithstanding the foregoing, the Board may. in   its sole discretion, waive any requirement in this Section 1.7. ARTICLE 2.   MEETINGS OF DIRECTORS. 2.1. Place. Time and Notice. Immediately after the   annual meeting of shareholders in each year, a meeting of such of the newly   elected directors as are then present may be held, provided that they shall   constitute a quorum, without notice, for the appointment of officers of the Corporation   and the transaction of such other business as may come before the meeting.   Subject to the provisions of any resolution of the Board of Directors,   meetings of the Board of Directors may be called at any time by the Chairman   of the Board or a Vice or Deputy Chairman of the Board or the President or   any Vice-President who is a director or any two directors and notice of the   time and place for holding any meeting of the Board of Directors shall be   given at least twelve (12) hours prior to the time fixed for the meeting. Any   meeting so called may be held at the registered office of the Corporation or   any other place which shall have been fixed by the Board of Directors. The   Board of Directors may also from time to time provide for the holding of regular   meetings of the Board of Directors at such place, within or outside of   Canada, with or without notice, as may be determined by resolution. 2.2.   Chairman. Subject to the provisions of any resolution of the Board of   Directors, the Chairman of the Board or, in his absence or inability or   refusal or failure to act, any Vice or Deputy Chairman of the Board or, in   his absence or Inability or refusal or failure to act, the President or, in   his absence or inability or refusal or failure to act, the Vice-President or,   if there be more than one Vice­ President, that one of them who may have been   designated for the purpose by the Board of Directors, shall preside at all   meetings of the Board of Directors; provided that neither the President nor   any Vice­ President shall so act unless he is a director. If all of the   foregoing officers be absent or unable or refuse or fail to act, the   directors present may choose a chairman from among their number. The chairman   at any meeting of directors may vote as a director. 2.3. Qyorum. Except where   the Corporation has only one director, the Board of Directors may, from time   to time, fix by resolution the quorum for meetings of the Board of Directors   but until otherwise fixed a majority of directors in offiCe, from time to   time, shall constitute a quorum. ARTICLE 3. COMMITTEES 3.1 Election. The   Board of Directors may, from time to time, appoint from their number   committees of directors, however designated, containing such proportion of   Canadian residents as may be required by law. 3.2 Chairman. Quorum and   Procedure. Any committee of directors shall have the power to appoint a   chairman and a vice or deputy chairman, to fix its quorum, which quorum shall   consist of not less than a majority of its members, and to determine its   procedure. 3.3 Secretary. The secretary of the Corporation shall act as   secretary of each committee of directors unless some other secretary be   appointed by the committee. 3.4 Powers. The Board of Directors may delegate   to any such committee of directors any of the powers of the board except   those which by law a committee of directors has no authority to exercise.   DOCSMTL:5050091\2 4 

    

 

3.5.   Proceedings ooen to the Board. All proceedings of committees of directors   shall be open to the examination of the Board of Directors of the Corporation   and shall be reported to the board of directors if and when the Board of   Directors so directs. 3.6. Meetings. Meetings of committees of directors may   be held at the registered office of the Corporation or at such other place   within or outside of Canada as a committee may from time to time determine.   Meetings of a committee may be called by or by the order of the president,   the chairman of the committee, the vice-chairman or any two (2) members   thereof. 3.7. Remuneration. The members of a committee of directors shall be   entitled to receive such remuneration for their services as members of the   committee as the directors may from time to time determine. 3.8. Removal and   Replacement. The directors may from time to time remove any member of a   committee of directors from office. The directors may also from time to time   fill any vacancy which may occur in the membership of a committee. ARTICLE4.   OTHER MATTERS 4.1. Indemnification. The Corporation shall, to the full extent   provided by law, indemnity a director or officer of the Corporation, a former   director or officer of the Corporation or another individual who acts or   acted at the Corporation's request as a director or officer, or an individual   acting in a similar capacity, of another entity, against all costs, charges   and expenses, including an amount paid to settle an action or satisfy a   judgment, reasonably incurred by the individual in respect of any civil,   criminal, administrative, investigative or other proceeding in which the   individual is involved because of association with the corporation or other   entity. that Enacted on March 21, 2013. Witness the signatures of the   President and the Secretary of the Corporation President Secretary OOCSMTL:   5050091\2 5 

    

 

AETERNA   ZENTARIS INC. (the "Corporation") BY-LAW 2013-1: ADVANCE NOTICE   BY-LAW By-law One of the Corporation is hereby amended by adding the   following thereto as Section 1.7 to form part thereof. 1.7 Nominations of   Directors. Subject only to the Canada Business Corporations Act (the Act) and   the articles of the Corporation (the "Articles"), only persons who   are nominated in accordance with the following procedures shall be eligible   for election as directors of the Corporation. Nominations of persons for   election to the board of directors of the Corporation (the "Board")   may be made at any annual meeting of shareholders, or at any special meeting   of shareholders if one of the purposes for which the specialmeeting was   called was the election of directors: a. by or at the direction of the Board,   including pursuant to a notice of meeting; b. by or at the direction or   request of one or more shareholders pursuant to a proposal made in accordance   with the provisions of the Act, or a requisition of the shareholders made in   accordance with the provisions of the Act; or c. by any person (a   "Nominating Shareholder"): (A) who, at the close of business on the   date of the giving of the notice provided for below in this Section 1.7 and   on the record date for notice of such meeting, is entered in the securities   register as a holder of one or more shares carrying the right to vote at such   meeting or who beneficially owns shares that are entitled to be voted at such   meeting; and (8) who complies with the notice procedures set forth below in   this Section 1.7. In addition to any other applicable requirements, for a   nomination to be made by a Nominating Shareholder, the Nominating Shareholder   must have given timely notice thereof in proper written form to the Secretary   of the Corporation at the principal executive offices of the Corporation. To   be timely, a Nominating Shareholder's notice to the Secretary of the   Corporation must be made: a. in the case of an annualmeeting of shareholders,   not less than 30 nor more than 65 days prior to the date of the annual   meeting of shareholders; provided, however, that in the event that the annual   meeting of shareholders is to be held on a date that is less than 50 days   after the date on which the first public announcement (the "Notice   Date") of the date of the annual meeting was made, notice by the   Nominating Shareholder may be made not later than the close of business on the   tenth (10th) day following the Notice Date; and b. in the case of a special   meeting (which is not also an annual meeting) of shareholders called for the   purpose of electing directors (whether or not called for other purposes), not   later than the close of business on the fifteenth (15th) day following the   day on which the first public announcement of the date of the specialmeeting   of shareholders was made. c. In no event shall any adjournment or   postponement of a meeting of shareholders or the announcement thereof   commence a new time period for the giving of a Nominating Shareholder's   notice as described above. To be in proper written form, a Nominating   Shareholder's notice to the Secretary of the Corporation must set forth: a.   as to each person whom the Nominating Shareholder proposes to nominate for   election as a director: (A) the name, age, business address and residential   address of the person; DOCSMTL:4969344\4 1 

    

 

(B) the   principal occupation or employment of the person; (C) the class or series and   number of shares in the capital of the Corporation which are controlled or   which are owned beneficially or of record by the person as of the record date   for the meeting of shareholders (if such date shall then have been made   publicly available and shall have occurred) and as of the date of such   notice;and (D) any other information relating to the person that would be   required to be disclosed in a dissident's proxy circular in connection with   solicitations of proxies for election of directors pursuant to the Act and   Applicable Securities Laws (as defined below); and b. as to the Nominating   Shareholder giving the notice, any proxy, contract, arrangement,   understanding or relationship pursuant to which such Nominating Shareholder   has a right to vote any shares of the Corporation and any other information   relating to such Nominating Shareholder that would be required to be made in   a dissident's proxy circular in connection with solicitations of proxies for   election of directors pursuant to the Act and Applicable Securities Laws (as   defined below). The Corporation may require any proposed nominee to furnish   such other information as may reasonably be required by the Corporation to   determine the eligibility of such proposed nominee to serve as an independent   director of the Corporation or that could be material to a reasonable   shareholder's understanding of the independence, or lack thereof, of such   proposed nominee. No person shall be eligible for election as a director of   the Corporation unless nominated in accordance with the provisions of this   Section 1.7; provided, however, that nothing in this Section 1.7 shall be   deemed to preclude discussion by a shareholder (as distinct from the   nomination of directors) at a meeting of shareholders of any matter in   respect of which it would have been entitled to submit a proposal pursuant to   the provisions of the Act. The Chairman of the meeting shall have the power   and duty to determine whether a nomination was made in accordance with the   procedures set forth in the foregoing provisions and, if any proposed   nomination is not in compliance with such foregoing provisions, to declare   that such defective nomination shall be disregarded. For purposes of this   Section 1.7: a.public announcementshall mean disclosure in a press release   reported by a national news service in Canada, or in a document publicly   filed by the Corporation under its profile on the System of Electronic   Document Analysis and Retrieval at www.sedar.com; and b. UApplicable   Securitles Laws" means the applicable securities legislation of each   relevant province of Canada, as amended from time to time, the rules,   regulations and forms made or promulgated under any such statute and the   published national instruments, multilateral instruments, policies, bulletins   and notices of the securities commission and similar regulatory authority of   each province of Canada. Notwithstanding any other provision of this Section   1.7. notice given to the Secretary of the Corporation pursuant to this   Section 1.7 may only be given by personal delivery, facsimile transmission or   by email (to the Secretary of the Corporation), and shall be deemed to have   been given and made only at the time it is served by personal delivery, email   or sent by facsimile transmission (provided that receipt of confirmation of   such transmission has been received) to the Secretary at the address of the   principal executive offices of the Corporation; provided that if such   delivery or electronic communication is made on a day which is a not a business   day or later than 5:00p.m. (Quebec time) on a day which is a business day,   then such delivery or electronic communication shall be deemed to have been   made on the subsequent day that is a business day. Notwithstanding the   foregoing, the Board may, in its sole discretion, waive any requirement in   this Section 1.7. DOCSMTL: 4969344\4 2 

    

 

Enacted on   March 21, 2013. Witness the signatures of the President and the Secretary of   the Corporation Secretary DOCSMTL:4969344\4 3 

    

 

AMENDED AND   RESTATED ON MARCH 21, 2013 JETERNA ZENTARIS INC. (the   "Corporation") BY LAWONE MEETINGS OF SHAREHOLDERS AND DIRECTORS,   COMMITTEES AND OTHER MATTERS ARTICLE I. MEETINGS OF SHAREHOLDERS. 1.1 Place,   Time and Notice. Meetings of shareholders of the Corporation shall be held at   the registered office of the Corporation or at such other place and at such   time as the Board of Directors, the Chief Executive Officer or the President   may determine, from time to time. 1.2. Electronic Meetings. If the directors   of the Corporation call a meeting of shareholders pursuant to the laws   governing the Corporation, those directors may determine that the meeting   shall be held in accordance with the regulations, if any, governing the   Corporation entirely by means of telephonic, electronic or other   communication facility that permits all participants to communicate   adequately with each other during the meeting. 1.3. Chairman. Subject to the   provisions of any resolution of the Board of Directors, the Chairman of the   Board or, in his absence or inability or refusal or failure to act, a Vice or   Deputy Chairman of the Board or, in his absence or inability or refusal or   failure to act, the President or, in his absence or inability or refusal or   failure to act, the Vice-President or, if there be more than one   Vice-President, that one of them who may have been designated for the purpose   by the Board of Directors, shall preside at all meetings of shareholders. All   of the foregoing officers may attend such meetings but no Vice-President   shall act as chairman if the Board of Directors shall have determined that he   shall not so act. If all of the foregoing officers be absent or unable or   refuse or fail to act, the persons present may choose a chairman. The   chairman of any meeting of shareholders shall conduct the procedure thereat   in all respects and his decision on all matters, including, but without in   any way limiting the generality of the foregoing, any question regarding the   validity or invalidity of any proxy, shall be conclusive and binding upon the   shareholders. A declaration by the chairman at any meeting that a resolution   has been carried or carried unanimously or carried by any particular majority   or lost or not carried by a particular majority shall be conclusive evidence of   such fact. The chairman of any meeting of shareholders may, in his   discretion, order a ballot. Moreover, any shareholder or its representative,   where the shareholder is a body corporate or an association, or his   proxyholder, either before or after any vote by show of hands, may OOCSMTL:   4170371\4 

    

 

require a   ballot on any question at any time before the termination of the meeting. A   demand for a ballot may be withdrawn. 0 If at any meeting a ballot is to be   taken, it shall be taken in such manner and either at once or after   adjournment as the chairman directs. The result of a ballot shall be deemed   to be a resolution of the meeting at which the ballot was taken whether or   not a vote on a show of hands had previously been taken on the same question.   The chairman of any meeting of shareholders may appoint up to two (2)   persons, who may but need not be directors, officers, employees or   shareholders of the Corporation, to act as scrutineers at such meeting. 1.4.   Quorum.The holder or holders of not less than ten (10) per cent of the   outstanding shares of the Corporation carrying voting rights at the meeting,   present in person or represented by proxy or by an authorized representative,   shall constitute a quorum. The quorum at any reconvened meeting of   shareholders so adjourned is fixed at one (1) shareholder present or   represented in accordance with this By-Law. The reconvened meeting may then   proceed to examine and dispose of the business for which it was called. 1.5   Voting Rights. At all meetings of shareholders, every shareholder entitled to   vote thereat, whether present in person or by proxyholder, or, in the case of   a body corporate or association by a duly authorized representative, shall be   entitled to one (1) vote for each voting share; if, however, in virtue of the   law or the articles of the Corporation another scale of voting rights is   fixed with respect to a particular matter or to another class of shares, such   scale of voting shall be adopted. 0 1.6 Particulars of Proxies. The directors   may also permit particulars of proxies for use at or in connection with any   such meeting which have been deposited with the Corporation or its agent at a   place other than the place of such meeting to be cabled, telecopied or   telegrammed to the secretary of the Corporation prior to such meeting. In   such event, such proxies, if otherwise in order, shall be valid and any votes   cast in accordance therewith shall be counted. ARTICLE 2. M EETINGS OF   DIRECTORS. 2.1. Place, Time and Notice. Immediately after the annual meeting   of shareholders in each year, a meeting of such of the newly elected   directors as are then present may be held, provided that they shall   constitute a quorum, without notice, for the appointment of officers of the   Corporation and the transaction of such other business as may come before the   meeting. Subject to the provisions of any resolution of the Board of   Directors, meetings of the Board of Directors may be called at any time by   the Chairman of the Board or a Vice or Deputy Chairman of the Board or the   President or any Vice-President who is a director or any two directors and   notice of the time and place for holding any meeting of the Board of   Directors shall be given at least twelve (12) hours prior to the time fixed   for the meeting. Any meeting so 0 DOCSMTL; 4170371\4 

    

 

called may be   held at the registered office of the Corporation or any other place which   shall have been fixed by the Board of Directors. 0 The Board of Directors may   also from time to time provide for the holding of regular meetings of the   Board of Directors at such place, within or outside of Canada, with or   without notice, as may be determined by resolution. 2.2. Chairman. Subject to   the provisions of any resolution of the Board of Directors, the Chairman of   the Board or, in his absence or inability or refusal or failure to act, any   Vice or Deputy Chairman of the Board or, in his absence or inability or   refusal or failure to act, the President or, in his absence or inability or   refusal or failure to act, the Vice-President or, if there be more than one   Vice-President, that one of them who may have been designated for the purpose   by the Board of Directors, shall preside at all meetings of the Board of   Directors; provided that neither the President nor any Vice-President shall   so act unless he is a director. If all of the foregoing officers be absent or   unable or refuse or fail to act, the directors present may choose a chairman   from among their number. The chairman at any meeting of directors may vote as   a director. 2.3. Quorum. Except where the Corporation has only one director,   the Board of Directors may, from time to time, fix by resolution the quorum   for meetings of the Board of Directors but until otherwise fixed a majority   of directors in office, from time to time, shall constitute a quorum. 0   ARTICLE 3. COMMITTEES 3.1 Election. The Board of Directors may, from time to   time, appoint from their number committees of directors, however designated,   containing such proportion of Canadian residents as may be required by law.   3.2 Chairman. Quorum and Procedure. Any committee of directors shall have the   power to appoint a chairman and a vice or deputy chairman, to fix its quorum,   which quorum shall consist of not less than a majority of its members, and to   determine its procedure. 3.3 Secretary.The secretary of the Corporation shall   act as secretary of each committee of directors unless some other secretary   be appointed by the committee. 3.4 Powers. The Board of Directors may   delegate to any such committee of directors any of the powers of the board   except those which by law a committee of directors has no authority to   exercise. 3.5. Proceedings open to the Board. All proceedings of committees   of directors shall be open to the examination of the Board of Directors of   the Corporation and shall be reported to the board of directors if and when   the Board of Directors so directs. 0 DOCSMTL: 4170371\4 

    

 

3.6. Meetings.   Meetings of committees of directors may be held at the registered 0 office of   the Corporation or at such other place within or outside of Canada as a   committee may from time to time determine. Meetings of a committee may be   called by or by the order of the presidentt the chairman of the committeet   the vice-chainnan or any two (2) members thereof. 3.7. Remuneration. The   members of a committee of directors shall be entitled to receive such   remuneration for their services as members of the committee as the directors   may from time to time determine. 3.8. Removal and Replacement. The directors   may from time to time remove any member of a committee of directors from   office. The directors may also from time to time fill any vacancy which may   occur in the membership of a committee. ARTICLE4. OTH ER MATTERS 4.1.   Indemnification. The Corporation shall, to the full extent provided by law,   indemnify a director or officer of the Corporation, a former director or   officer of the Corporation or another individual who acts or acted at the   Corporation's request as a director or officert or an individual acting in a   similar capacity, of another entity, against all costst charges and expenses,   including an amount paid to settle an action or satisfy a judgment,   reasonably incurred by the individual in respect of any civil, criminal,   administrative, investigative or other proceeding in which the individual is   involved because of that association with the corporation or other entity. 0   0 OOCSMTL: 4170371\4 

    

 

JETERNA   ZENTARIS INC. (the "Corporation") BY-LAW 2011-1 I. The   Corporation's existing Code of General By-Laws, adopted on November 29, 1995,   is hereby repealed in its entirety without in any way derogating from or   affecting any or all acts and things done or carried out under or pursuant to   the authority conferred by said by-laws prior to their repeal. 2. The repeal   of any by-law shall not be deemed to revive any by-laws or parts thereof   repealed thereby. Enacted this 22nd day of March 2011. Witness the signatures   of the President and the Secretary of the Corporation. Secretary DOCSMTL:   4253576\2 

    

 

 

I PEPE.lUID   0l1l\..l0-I 22, 2011. OOGE LES LABORATOIRES JETERNA INC.   CODEDEREGLEMENISGENERAUX etabli confonnement aux dispositions de Ia Loi   canadienne sur /es sociitis par actions Adopte le 29 novembre 1995 

    

 

... TABLE DES   MATrERES .' ..............................................................   DEFINITIONS BUREAUX ET SCEAU DE LA SOcrETE 1. 2. Bureaux . .. ............. .   ... . ...... . ... . ... . ................. . ..... . Sceau . .... ......   .... . ....... .. . . .......... ....... . .. .. ......... . .. .   ACTIONNAm.ES 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. IS. Assembh!es   annuelles Assemblees extraordinaires   ............................................ . Lieu des assemblees ... .   ............................................. . Avis de convocation   ....................................... . ... . ..... . President d'assemblec   .... ..... . ...... . ....... . ...... . .......... . ..... . Quorum .   ....... . ... . ..... ... ...... . ... . . .... . . . ... .. .... . .. ... .   . .. . Representation aux assemblees ..•.... . .. . .... .   .................... . ..... Vote . ...... ..... ..... . ............   ........... . ........... . ........ . Procedure aux assemblees   •....................... ...................... Scrutateurs . ... ....... .   ................... . ....................... . . . Cessionnaires subsequents   d'actions ... ........................ . ......... . Adresses des   actionnaires .... . . .. ... ........ . . ... ..... .. . ......... .....   Resolutions signees .................................................. . 2 2   2 2 3 3 4 5 6 6 6 6 6 CONSEU. D'ADMINISIRATION 16. 17. 18. 19. 20. 21. 22.   23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. Nombre .. .. • .. . . . . . .   . . .. . . . . . .. . ... . . . . . . . .. . . . .. . .. . .. . . . . . . . .   . . . . Election et duree du mandat . . . . . . . .. . . . . . . . . . . . .   . . . . . . .. . . . . . . . . . . . . . . . Vacance . . . ... .. . ....•   .... . . . . . . .. . . . . . . . . . . . .. . . . . .. . . . . . . . . . . .   . . . . Remplacement . . . ... . . . . .. . .. . . .. . . . . . .. . . . ...   . . . . . . . . . . . . . . . . . . . . . . . Qualites requises . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . .   . . . . . . . Reunions et avis .. .. ... . . ...... ...... .. .. . . . .... .   . . ... . . . .. . . . . . . . . . . Participation par moyens techniques .. .   ... ... . . . . .• . . . . .. . . . .. . . . . . . . . . . . . Quorum .• • ..   . . . . .. . . . . . . . . . . . . . . . . • . . . . . . . . . . . . . . . ..   . . . . . . . . . . . . . . . . Demission .... ........ • ... .. .. .... . .   . ... .. . . ... . . . .. .. . . . . .. . . . . . . . . Revocation . . . . .   . . . . . . . . . . . . ... . . . . .. . ... . . . . ... . . . ... . . . . .   . . . .. . . . . . Remuneration . .. . . .. . . . . . . . . . . . . . . . ..   . . . . . . . . . .. . . . .. . . . . . .. . .. . . . . . Resolutions signees   ......... . .. .. .. . ..... . .. . . ..... . .. . .. . . . ....... . . .   Pouvoirs des administrateurs. . . . . . . .. ... . . .. . . . ... . . . . ...   . . .. .. . .. . . . . . Irregularite .... .. . . . . . . . . . . . . . .. .   . . . . . . . . . . . . . . ... . . . . . .. . . . .. . . .. . . . Pouvoir   d'attribuer des actions et de consentir des options ·.. . .• . ... .. . ...   ... . . Pouvoir de declarer des dividendes • . . . . . . • . . . .. . . . .   ... . . . ... . . . . .... .. . . . Utilisation de biens ou d'infonnation . .   . . ... . . . .. . . . . .. . . . . . .. . . . .• . . .. . . . Conflits   d'interets ...• .. ......·. .. ..• .....• . . .• ... ... ... . . . .. . ... .   .. . . Contrat avec Ia societe. . . . . . . . . . .. ... . . .. . ..... . .   ... . . . ... . . . ... . . . . . . 6 7 7 7 7 7 8 8 9 9 9 9 9 9 9 l 0 10 1o   10 I 

    

 

LA DIRECTION   35. 36. 37. 38. 39. 40. 41. 42. 43. 44. Dirigeants . . . .. . ... . . .. . ..   .. . . . ..... . .. . .. . . . . . ... . . . . . . . . . . . . . . . . . .   President du conseil d'administration . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . President . . . . . . ... .. . . . .. .. .   .. .. .. .. . .. . . . . . . . . . . . .. .. . . .. . . . . . . . . . .   Vice-president . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . Directeur general ou   administrateur-gerant . . .. . . . . .. . . . . . . . . . . . . . . . . . . .   . . . Secretaire . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . Tresorier . . . ..   ... ... . .. . . . .. .. . . . . .... . . .. . . ... . . . . . . .. .. . . .   .. . . . . . . Controleur . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Destitution.renvoi   et demission . .. . ...... . .. . . . . .. . . . .. .. .. . . . . . .. . . .   . . . Remuneration . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . 11 11 12 12 12 12 12 13   13 13 COMITES DU CONSElL nrADMINISTRATION 45. 46. 47. 48. 49. 50. 51. 52.   Election . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . President d'assemblee,   quorum et procedure . . . ... . . . .. . . . .. .• . .. . . . . . . . . . .   Secretaire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . . . . . . . . . . . . . . . . . . . . . . . Pouvoirs . ..... ...... .   .... . .... . ... ... ... .. .. . . .. . . . .. .. . . . . . . . . . . . . . Pouvoir   de surveillance du conseil d'administration . . . . . . . . . . . . . . . . .   . . . . . . . . . Reunions .. . .. ... . . . . . . . .. .. . .. . . . ... .   .. .. . . . . .. . . . .. . . . . . . . . . . . . . . . Remuneration . . . .   . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .   . . . . . . . . . . . . Destitution et remplacement . . .. .. .. ..... .....   . .. ... . . . . . . . . . . . . . . . . . . .. 13 13 13 13 13 13 14 14   INDEMNISATION DES ADMINISTRATEVRS ET DIRIGEANIS 14 14 53. Indemnite .. .. . .   . .. .. ........ ... ... .. .... ... ... ....... .. .... ... .... . . 54.   Assurance CAPITAL SOCIAL 55. 56. 51. 58. 59. Certificats d'actions et   transferts d'actions .. . . . . . . . . . . . . . . . . . . . . . . . . . . .   . . . . Registre des va1eurs mobilieres .. .. .... ....... .... .. ......·.   .. . . . . . . . . . . . . Agents de transfert et agents charges de Ia tenue   des registres . . . . .. . . . . . . . . . . . Date de reference et fermeture   des registres . .. .. .. .... . .. ... . . . . . . . . . . . . . . .   Certificats perdus ou detruits . . . . . . . . . . . . . . . . . . . . . ...   . . . . . . .. . . . . . . . . . . . 14 15 15 15 15 EXERCICE FINANCIER ET   vERIFICATION 60. Exercice fmancier . . .. . . . .. . . . .. . . . . . . . . .   . .. . . . . . . ... . .. . . . . . . . .. . . . . . 61. verification • • .   ... .. .. ... .. . . . . . .. . .. . ...... .. .. . .... .... . . . . . . .   .... . 16 16 REPRESENTATION DE LA SOCIETE A CERJAJNES FINS 16 16 17 17 62.   63. 64. 65. Declaration . ................. .... ...... .. ............ .   .... .... . ·... ·· Representation aux assemblees .. . .... . .. .. ... .. .   . . .. . . .. . .... .. .. . .. . . ·· Signature de documents .. . .... . . .   . .......... .. ... ..............······· Declarations au registre ... . ...   . . .. . ..... .• .......•.. .......····.··· ··· · 

    

 

CODEDEREGLEMENTSGENEBAUX   DE LA SOCIETE etabli conformement aux dispositions de Ia Loi canadienne sur   /es societes par actions DEFINITIONS Pour les fins des presents reglements, a   mains d'une disposition contraire, les termes ou expressions : •Loiadesigne   Ia Loi canadienne sur les societes par actions, L.R.C.(1985) ch. C-44, ainsi   que toute modification qui pourrait lui etre apportee, et toute loi pouvant y   etre substituee. •resident canadien• a le sens particulier qu'attribue Ia Loi   a cette expression. •resolution ordinaire• designe une resolution adoptee a   Ia majorite des voix exprimees par les actionnaires habiles a voter en   !'occurrence, ou signee par Ia totalite d'entre eux. •resolution speciale•   designe une resolution adoptee aux deux tiers au mains des voix exprimees par   les actionnaires habiles a voter en l'occurrence, ou signee par Ia totalite   d'entre eux. •verificateur-designe le verificateur de Ia societe et comprend   un cabinet de verificateurs. BUREAUX EI SCEAV DE LA SOCIETE 1. Bureaux. La   societe peut, en plus de son siege social, etablir ailleurs, a l'interieur   comme a l'exterieur du Canada, les bureaux et agences que les administrateurs   peuvent de temps a autre determiner. 2. . Le sceau de Ia societe est de forme   circulaire et porte le nom de Ia societe et l'annee de sa constitution. Si Ia   societe a un nom comportant une appellation fran9aise et une appellation   anglaise, distinctes ou combinees, le sceau de Ia societe peut porter Ia   mention a Ia fois les appellations fran aise et anglaise de son nom, ou Ia   societe peut avoir deux sceaux, egalement valides, l'un portant I'appellation   fran-9aise et l'autre I'appellation anglaise. Le president ou, s'il est   nomme, tout vice-president ou, le directeur general, le contraleur, le   secretaire, le tresorier ou tout autre dirigeant ou administrateur autorise a   cet effet par Je conseil d'administration, a le pouvoir d'apposer le sceau de   Ia societe sur tout document au besoin. De plus, Ia societe peut avoir, en   vue de s'en servir dans une province autre que celle ou est situe son siege   social, dans un territoire du Canada ou dans un endroit hors du Canada, un   sceau officiel qui doit ctre un fac-simile du sceau de Ia societe, avec   l'addition sur sa face du nom de Ia province, du territoire ou de l'endroit   ou ce sceau doit etre utilise, et Ia societe peut, par ecrit, autoriser toute   personne a apposer le sceau officiel sur tout acte ou tout document auquella   societe est partie dans cette province, ce territoire ou cet endroit. 

    

 

Lorsque.les   statuts, en vue d'une utilisation a l'exterieur du Canada, enoncent le nom de   Ia societe dans une langue autre que le fran ais ou I'anglais, Ia societe   peut, en vue de cette utilisation, avoir un sceau de fonne circulaire portant   Je nom de Ia societe dans telle autre langue ainsi que l'annee de sa   constitution en societe et comportant Je nom de l'endroit oil iJ doit etre   utilise par Ia societe. La societe peut par ecrit autoriser toute personne a   apposer ce sceau sur tout acte ou document auquel elle est partie dans tel   endroit. ACTIONNAIRES 3. Assembtees annuelles.. Sous reserve des dispositions   de Ia loi, l'assemblee annuelle des actionnaires de Ia societe se tient a   telle date chaque annee, a telle heure et, sous reserve des dispositions du Reglement   numcro 5, a tel endroit que peut fixer le conseil d'administration aux fins   de recevoir et d'examiner les etats financiers ainsi que le rapport du   verificateur, d'elire les administrateurs, de nommer un verificateur et de   fixer ou d'autoriser le conseil d'administration a fixer sa remuneration et   de considerer, de traiter et de disposer de toute autre affaire dont peut   etre legalement saisie une assemblee d'actionnaires. Toute assemblee annuelle   peut aussi constituer une assembtee extraordinaire pour prendre connaissance   et disposer de toute affaire dont peut prendre connaissance et disposer une   assemblee extraordinaire. 4. Assemblees extraordinaires. Une assemblee   extraordinaire des actionnaires peut etre convoquee en tout temps par Je   president ou sur son ordre, ou par le conseil d'administration de Ia societe   ou sur son ordre, et doit etre convoquee par le conseil d'administration   lorsque un ou plusieurs actionnaires detenteurs d'au moins 20% des actions   votantes en circulation en font Ia demande confonnement a Ia Loi. Lieu des   assemb!ees. Les assemblees des actionnaires se tiennent au siege social de Ia   societe ou a S. tout autre endroit que peut fixer le conseil   d'administration. Cependant, Jes assemblees des actionnaires ne peuvent etre   tenues a l'exterieur du Canada que si tous les actionnaires autorises a voter   y consentent, soit par ecrit, par telegramme, par cable ou par telecopieur,   avant ou apres leur tenue, ou soit en y assistant en persoiUle, par fonde de   pouvoir ou, lorsqu'il s'agit d'une personne morale ou association, par un   representant dument autorise conformement aux dispositions du Reglement   numero 9;toutefois,un actionnaire qui assiste a une assemblee tenue hors du   Canada n'est pas repute y avoir consenti s'il y est present dans le but   expres de s'opposer a ce que des affaires y soient traitees pour le motif que   cette assembJee n'est pa.S tenue legalement. - 6. Avis de convocation. Un   avis de chaque assemblee annuelle et de chaque assemblee extraordinaire des   actionnaires doit etre transmis aux actionnaires autorises a y voter ainsi   qu'aux administrateurs et au verificateur ou, a Ja discretion de Ia personne   chargee de l'envoi de tel avis,_mis a Ja poste par courrier ordinaire port   paye d'avance ou enftn envoye par cable, par telt gramme ou par telecopieur,   le tout a l'adresse respective des destinataires telle qu'inscrite aux   registres de Ia societe.au moins 21 jours et au plus SO jours avant Ia date   fixee pour telle assemblee. Si l'adresse du destinataire n'est pas inscrite   aux registres de Ia societe, I'avis de convocation peut etre envoye tel que   susdit a l'adresse oil, de l'avis de l'expediteur de I'avis, il est Je plus   susceptible de lui parvenir rapidement. 

    

 

- 3 . Un   actionnaire et toute autre personne autorisee a assister a une assemblee   d'actionnaires peuvent renoncer a l'avis de celle-ci, soit P¥ ecrit, par   telegramme, par cable ou par tcHecopieur, avant ou apres sa tenue, ou soit en   y assistant en personne ou, dans le cas des actionnaires, par fonde de procuration   ou, lorsqu'il s'agit d'une personne morale ou d'une association, par un   representant dument autorise conformement aux dispositions du Reglement   numero 9; toutefois, une personne qui assiste a une telle assemblee n'est pas   reputee avoir renonce a )'avis de convocation de l'assemblee lorsqu'elle y   est presente dans le but expres de s'opposer ace que des affaires y soient   traitees pour le motif que cette assemblee n'est pas convoquee legalement.   Cet avis doit indiquer Ia date, l'heure et le lieu de chaque assemblee.   L'avis d'une assemblee annuelle peut, mais ne doit pas necessairement enoncer   Ia nature des affaires qui en constitueront l'ordre du jour, lorsque telle   assemblee n'est convoquee que pour examiner les etats financiers ainsi que le   rapport du verificateur, elire les administrateurs et renouve)er le mandat du   verificateur. L'avis de convocation d'une assembJee annuelle a laquelle   d'autres affaires doivent etre traitees, de meme que I'avis de convocation   d'une assemblee extraordinaire doivent enoncer: a) Ia nature des affaires qui   en constitueront l'ordre du jour d'une maniere suffisamment detaillee pour   pennettre aux actionnaires de se faire une idee exacte sur celles-ci; et le   texte de toute resolution Speciale qui doit etre soumise a l'assembJee. b) II   n'est pas necessaire de donner un avis de convocation de Ia reprise d'une   assemblee ajournee autrement que par une annonce faite lors de la premiere   assemblee qui est ajournee; un nouvel avis de convocation est toutefois   requis si une assemblee d'actionnaires est ajournee une ou plusieurs fois   pour un total de 30 jours ou plus. La signature de tout avis de convocation   d'une assemblee peut etre manuscrite, estampillee, dactylographiee, imprimee   ou autrement reproduite mecaniquement. Un certificat du secretaire ou de tout   autre dirigeant dument autorise de Ia societe en fonction Iars de Ia   confection de tel certificat, ou de tout dirigeant, agent de transfert ou   agent charge de Ia tenue des registres d'actions de Ia societe, constitue une   preuve concluante de Ia remise, de l'envoi du cable, du telegramme ou de Ia   telecopie ou de Ia mise a Ia poste d'un avis de convocation, et lie chaque   persoe qui doit Je recevoir. 7. President d'assembJee. Le president de Ia   societe, ou toute autre personne qui peut etre de temps a autre nommee a cet   effet par le conseil d'administration, preside aux assemblees d'actionnaires.   Quorum. Un quorum des actionnaires est atteint a toute assemblee annuelle ou   extraordinaire des 8. actionnaires, sans egard au nombre de personnes   presentes personnellement, si le ou Jes detenteurs d'au mains vingt pour   cent{20 %) des actions en circulation donnant droit de vote a cette assemblee   sont presents personnellement ou representes confonnement au Reglement numero   9 ci-apres. 

    

 

Si le quorum   est atteint a l'ouverture de l'assemblee, les actionnaires presents ou   representes peuvent proceder a l'examen des affaires de cette assemblee   nonobstant le fait qu'il n'y a it pas quorum tout au long de l'assemblee. Si   le quorum n'est pas atteint dans les trente (30) minutes de,l'heure pour   laquelle une telle assemblee est convoquee, les actionnaires presents ou   representes doivent ajoumer celle-ci a une autre date et en un autre lieu,   mais ils ne peuvent traiter d'aucune autre affaire. Si le quorum est atteint   a Ia reprise de l'assemblee ainsi ajoumee, l'assemblee peut alors proceder a   l'examen eta Ia disposition des affaires pour lesquelles elle avait 6te   convoquee. Si le quorum n'est pas atteint lors de Ia reprise de l'assemblee   ajoumee, celle-ci doit a nouveau etre ajoumee ou encore, si les dt!lais   prevus au Reglement numero 6 sont expires, une nouvelle assemblee doit etre   convoquee. Dans le cas oil Ia Loi, lcs statuts ou tout reglement de Ja   societe requierent ou permettent le vote par categoric des detenteurs d'une   categoric donne d'actions du capital social de Ia societe, le quorum a une   tellc assemblee sera de une ou plusieurs pcrsonnes representant vingt pour   cent (20 %) des actions de cette categoric en circulation. Si le quorum n'est   pas atteint dans les trente (30) minutes de l'heure pour laquelle une telle   assemblee d'une categoric d'actionnaires est convoquee, les actionnaires de   Ia categoric presents ou representes doivent ajoumer celle-ci a une autre   date et en un autre lieu, mais ils ne peuvent traiter d'aucune autre affaire.   Si le quorum est atteint a Ia reprise de l'assemblee ainsi ajoumee,   l'assembtee peut alors procedcr a l'examen et a Ia disposition des affaires   pour lesquelles elle avait ete co.nvoquee. Si le quorum n'est pas atteint   lors de Ia reprise de l'assemblee ajoumee, celle-ci doit a nouveau etre   ajoumee ou encore, si les delais prevus au Reglement numero 6 sont expires,   une nouvelle assemblee doit etre convoquee. 9. Representation aux assemblees.   Les actionnaires ont droit de voter en personne ou, s'il s'agit de personnes   morales ou d'associations, par des representants dument autorises par   resolution du conseil d'administration ou du conseil de direction de telles   personnes morales ou associations. Les actionnaires peuvent aussi voter par   fonde de pouvoir ou par·un ou plusieurs fondes de pouvoir suppleants qui ne   sont pas tenus d'etre des actionnaires; le fonde de pouvoir assiste a   l'assemblt§e, y vote et y agit de Ia maniere et dans Ia mesure qu'autorise sa   procuration et avec l'autorite qu'elle lui confere. L'actionnaire ou le   mandataire qu'il autorise par ecri·t a agir de Ia sorte doit signer Ia   procuration et cette signature n'a pas besoin d'etre attestee par un temoin.   · Une procuration n'est valable que tors de l'assemblee relativement a   )aquelle elle est donnee ou lors de Ia reprise de cette assemblee si celle-ci   a etc ajoumee. L'instrument nommant un fonde de pouvoir peut, sauf dans les   cas oil Ia loi y pourvoit autrement, revetir Ia forme suivante ou une autre   forme appropriee : de/Noussoussigne(s), actionnaire(s) de   LesLaboratoiresJEtema Inc., nomme/nommons et constitue/constituons par les   presentes ou, a son defaut, (ou ). mon/nos mandataire(s), representant(s) et   fonde(s) de pouvoir avec plein pouvoir et 

    

 

- s pleine   autorite pour assister, voter et autrement agir pour moi!nous en monlnotre   nom et a rna/notre place a J'assemblee annuelle (ou extraordinaire) des   actionnaires de Ia societe qui a lieu a le jour de ) et a tout ajoumement   d'icelle, avec plein pouvoir de se 19 (20 substituer quelqu'un d'autre;   je/nous soussigne(s) revoque/revoquons par les presentes toute autre   procuration donnee par moilnous soussigne(s} qui pourrait etre utilisee a   cette assemblee et a tout ajournement d'icelle. Le mandataire, representant   et fonde de pouvoir nomme ou constitue par les presentes est autorise a   signer toutes les renonciations a )'avis concernant l'assemblee susmentionnee   et sur tous les ajoumements de celle-ci. Donne ce jour de 19(20 ).» Le   conseil d'administration peut, dans l'avis de convocation d'une assemblee   d'actionnaires, preciser une date et une heure qui ne doivent pas etre   anterieures de plus de 48 heures, excluant les samedis et les jours feries, a   l'assembtee ou a sa reprise en cas d'ajoumement, date avant laquelle les   procurations qui doivent etre utilisees tors de cette assemblee doivent etre   deposees aupres de Ia societe ou de son mandataire. Le conseil   d'administration peut egalement pennettre que les details des procurations   devant etre utilisees au cours d'une assemblee ou en rapport avec celle-ci et   qui ont ete deposees aupres de Ia societe ou de son agent a un endroit autre   que celui oil doit avoir lieu telle assembh e, scient envoyes par telegram   me, par cable ou par telecopieur au secretaire de Ia societe avant l   assemblee. Dans une telle eventualite, ces procurations, si elles sont   d'autre part confonnes, sont valides et les votes doMes sous leur autorite   doivent etre comptes. Vote. Toute question soumise a une assembtee   d'actionnaires est decidee au vote a main levee a 10. moins qu'un vote a voix   ouverte ou par scrutin secret ne soit ordoMe ou requis, conformement aux   paragraphes qui suivent. Le president de toute assemblee peut, a sa   discretion, ordoMer un vote a voix ouverte ou par scrutin secret. Par   ailleurs, tout actioMaire ou son representant ou fonde de pouvoir, peut, en   tout temps avant Ia levee d'une assemblee, exiger un vote a voix ouverte ou   par scrutin secret sur toute question, avant ou apres qu'un vote a main levee   ne soit pris. Une telle demande peut etre retiree. Si l'on doit recourir au   vote par scrutin secret tors d'une assemblee, il y est procede immediatement,   ou apres l'ajoumement de l'assemblee, a Ia discretion du president   d'assemblee, et de Ia maniere qu'il determine. Qu'un vote a main levee ou a   voix ouverte ait ete ou non prealablement pris sur Ia meme question, Ie   resultat d'un scrutin secret est suppose representer Ia resolution de   l'assemblee a son egard. A chaque assemblee d'actionnaires, chaque   actionnaire ayant droit de vote, present en personne ou represente a droit a   une voix pour chaque action comportant droit de vote a cette assemblee; si   cependant, en vertu de Ia Loi ou des statuts de Ja societe, une autre   repartition des voix est etablie, Jes droits de vote sont ceux determines par   cette repartition. 

    

 

Les actes des   actionnaires, de leurs representants et de leurs fondes de pouvoir comportant   une majorite des voix a l'egard des actions ainsi representees a cette   assemblee, soot des actes des actionnaires, excepte dans le cas oil une   majorite plus grande que Ia majorite simple est requise par Ia Loi ou les   statuts de Ia societe. 11. Procedure aux assemblees. Le president de toute   assemblee d'act onnaires y controle Ia procedure sous tout rapport, et sa   decision sur toute matiere, y compris, mais sans aucunement restreindre Ia   generalite de ce qui precede, toute question relative a Ia validite ou a   l'invalidite d'une procuration, est finale et lie tous les actionnaires. Une   declaration par le president d'une assemblee a l'effet qu'une resolution a   ete adoptee, adoptee a l'unanimite, adoptee par une majorite quelconque au   qu'elle a ete defaite ou n'a pas rencontre Ia majorite fixee, fait preuve de   son contenu. Les administrateurs de Ia societe ont le droit. a ce seul titre,   d'assister aux assemblees des actionnaires et d'y prendre Ia parole. 12.   Scrutateurs. Le president d'une assemblee d'actionnaires peut nommer deux   personnes qui peuvent, mais ne doivent pas necessairement etre des   administrateurs, dirigeants, employes ou actionnaires de Ia societe, pour agir   comme scrutateurs a cette assembh e. 13.Cessjonnajres subseguents d'actjons.   Toute personne qui, de par Ia Loi, par l'effet d'un transfert au de toute   autre maniere, acquiert un droit a quelque action, est liee par tout avis   donne au sujet de cette action avant l'entree de son nom et de son adresse au   registre, a Ia personne dont le nom etait inscrit au registre au moment de   I'envoi de tel avis. Adresses des actjonnajres. Tout actionnaire doit foumir   ala societe une adresse a laquelle peuvent 14. lui etre envoyes, tel que   prescrit au Reglement numcro 6, tous les avis qui lui soot destines. 15.   Resolutions siwees. Sauf dans Jes cas oil Ia loi l'interdit. une resolution   ecrite signee par tous les actionnaires ayant droit de voter sur cette   resolution tors d'une assemblee d'actionnaires, a Ia meme valeur que si elle   avait ete adoptee tors d'une assemblee de ces actionnaires. ' Un exemplaire   de toute resolution visee par le paragraphe precedent doit etre conserve avec   les proces·verbaux des assemblees d'actionnaires. CONSEIL D'ADMINISTRATION   16. Nombre.Le conseit d'administration se compose du nombre d'administrateurs   que les administrateurs peuvent detenniner de temps a autre, sous reserve du   nombre minimal et du nombre maximal d'administrateurs prevus aux statuts de   Ia societe. 

    

 

17. Election et   duree du mandat. Sauf: i) si les statuts de Ia societe prevoient le vote   cumulatif, auquel cas les dispositions de Ia Loi a cet egard s'appliquent,   ii) lorsque les statuts conlerent aux detenteurs d'une categoric ou d'une   serie d'actions des droits exclusifs d'elire un ou plusieurs administrateurs,   auxquels cas on doit se reporter aux dispositions pertinentes des statuts,   iii) lorsqu'il est autrement pourvu a Ia nomination d'un administrateur a un   poste d'administrateur devenu vacant, auquel cas les dispositions du   Reglement s'applique, ou iv) lorsqu'il est autrement pourvu a l'«Hection   d'administrateurs supplementaires, auquel cas on doit se reporter aux   dispositions pertinentes des statuts; chaque administrateur est elu par   resolution ordinaire, ill'assemblee annuelle a laquelle une election   d'administrateurs est requise. Un vote au scrutin secret n'est pas necessaire   pour )'election des administrateurs de Ia societe, a moins qu'il ne soit   exige par une personne presente et autorisee it voter it l'assemblee au cours   de laquelle !'election a lieu.. Chaque administrateur ainsi elu demeure en   fonctionjusqu'a ('election de son successeur sauf en cas de demission ou si   son poste devient vacant par deces ou autrement. 18. Vacance. Devient   automatiquement vacant le poste d'un adrninistrateur qui: a) decede;   demissionne de son poste, au moment ou cette demission prend effet; est   revoque confonnement a Ia Loi, et qu'aucune personne n'est nommee pour le rem   placer lors de l'assemblee des actionnaires au cours de laquelle ila ete   ainsi revoque; b) c) d) cesse de posseder les qualites requises pour etre   administrateur. 19. Remplacement. Sous reserve des dispositions de la Loi,   s'il survient une vacance au sein du conseil d'administration, y compris une   vacance causee par une augmentation du nombre d'administrateurs, les   administrateurs restants, s'ils constituent un quorum, peuvent nommer une   personne qualifiee pour com bier une telle vacance, pour Ia duree non-ecoulee   du mandat. En l'absence d'un quorum, les adrninistrateurs restants doivent   immediatement convoquer une assemblee extraordinaire des actionnaires en vue   de combier cette vacance, confonnement a !'article Ill de Ia Loi. 20. OuaHtes   requises. Une personne ne peut etre elue administrateur si elle est agee de   moins de.18 ans, si elle est faible d'esprit et a ete reconnue telle par un   tribunal du Canada ou d'ailleurs, si elle n'est pas un particulier, si elle   ale statut de failli ou si un tribunal lui a interdit d'exercer Ia fonction   d'adrninistrateur. Un administrateur n'est pas tenu d'etre actionnaire. La   majorite des administrateurs doit se composer de •residents canadienS», a   moins que Ia Loi ne prescrive autrement. Si Ia societe est une societe qui a   fait une distribution publique de ses valeurs mobilieres, au moins deux de   ses administrateurs ne devront pas etre des dirigeants ou des employes de Ia   societe ou de ses filiales. Un administrateur sortant est reeligible s'il est   autrement admissible. 21. Reunions et ayis. Chaque annee, immediatement apres   l'assemblee annuelle des actionnaires, doit avoir lieu sans autre avis une   reunion des administrateurs qui sont alors presents, pourvu qu'ils   constituent un quorum, aux fins de nommer les dirigeants de Ia societe et de   transiger toute autre affaire dont Ia reunion peut legalement etre saisie. 

    

 

- 8-Les   reunions du conseil d'administration peuvent etre convoquees par le president   du conseil d'administration ou, sur son ordre s'il y a lieu, par le president   de Ia societe ou, sur son ordre, par un vice-president de Ia societe s'il est   egalement un administrateur ou, sur son ordre, par deux administrateurs, et   ces reunions peuvent etre tenues n'importe ou au Canada ou hors du Canada. Un   avis de convocation de tetles reunions mentionnant le lieu, Ia date et   l'heure, doit etre remis a chaque administrateur ou laisse a sa residence ou   a son etablissement d'affaires, ou mis a Ia paste par courrier ordinaire,   port paye d'avance, ou envoye par telegramme, par cable ou par telecopieur a   l'adresse inscrite dans les registres de Ia societe, au mains deuxjours avant   Ia date fixee pour cette reunion. Si l'adresse d'un administrateur n'est pas   inscrite dans les registres de Ia societe, cet avis de convocation peut alors   etre envoye tel que susdit a l'adresse au l'expediteur considere que ('avis   est le plus susceptible d'atteindre rapidement cet administrateur. Le conseil   d'administration peut de temps a autre pourvoir a Ia tenue de reunions   regulieres du conseil d'administration, avec ou sans avis de convocation, a   tout endroit au Canada ou ailleurs, le tout tel que determine par une   resolution adoptee a cet effet. II n'est pas necessaire de specifier dans un   avis les buts de Ia convocation d'une reunion du conseil d'administration ou   Ia nature des questions a debattre a cette reunion sauf dans le cas de   questions visees a l'article 115(3) de Ia Loi dont, notamment, Ia declaration   de dividendes, l'emission de valeurs mobilieres, !'acquisition d'actions   emises par Ia societe, I'approbation des etats financiers annuels, les   vacances au conseil d'administration ou au paste de verificateur et   I'adoption, Ia modification ou Ia revocation des reglements. II n'est pas   necessaire de donner avis de Ia date, de l'heure et du lieu de Ia convocation   d'une reunion du conseil d'administration a tout administrateur qui y renonce   soit par ecrit, par telegramme, par cable, ou par telecopieur avant ou apres   Ia tenue de cette reunion, ou soit en y assistant; toutefois, tel acte de presence   a une reunion d'administrateurs ne constitue pas une renonciation a l'avis de   convocation de cette reunion si l'administrateur y assiste dans le but expres   de s'opposer aux deliberations au motif que cette reunion n'est pas   regulierement convoquee. II n'est pas necessaire de doMer avis de Ia reprise   d'une reunion ajoumee d'administrateurs si Ia date, l'heure et le Heu de Ia   reprise de cette reunion sont aMonces tors de Ia reunion initiate. 22.   Participation Par moyens techniques. Les administrateurs peuvent, si tous   sont d'accord, participer a une reunion du conseil d'administration a I'aide   de moyens techniques, notamment le telephone, pe ettant a tous les   participants de communiquer oralement entre eux. Un administrateur   participant a une reunion a l'aide de tel moyen est repute avoir assiste a Ja   reunion. 23. Quorum. La presence de Ia majorite des administrateurs alors en   fonction constitue un quorum pour une reunion du conseil d'administration.   Lorsque le quorum est atteint, Ies administrateurs peuvent exercer leurs   pouvoirs nonobstant toute vacance au conseil; toutefois, aocune affaire ne   doit etre traitee a mains que les administrateurs presents qui sont des   •residents canadiens• n'atteignent le nombre prevu par Ia Loi. Les questions   soulevees a unc reunion des administrateurs sont decidees a Ia majorite des   voix des administrateurs presents. En cas de partage des voix, le president   du conseil a droit a un (1) vote preponderant. 

    

 

- 9-24.   Demission. Un administrateur peut demissionner en tout temps de son poste, en   envoyant sa demission ecrite au president ou au secretaire de Ia societe au   siege social de celle-ci, ou en remettant cette demission ecrite Iars d'une   reunion du conseil d'administration. La demission prend effet a Ia date de   son envoi ou de sa remise, ou a Ia date posterieure qui y est indiquee. 25.   Revocation. Sous reserve des statuts de Ia societe, tout administrateur peut   etre revoque par resolution ordinaire Iars d'une assemblee extraordinaire des   actionnaires. La revocation d'un administrateur, tout comme son election,   releve du bon vouloir des actionnaires. Elle peut etre faite en tout temps et   n'a pas besoin d'etre fondee sur des motifs particuliers, serieux ou non. Ni   Ia societe, ni les actionnaires votant en faveur de Ia revocation n'encourent   de responsabilite envers un administrateur du simple fait de sa revocation,   meme non motivee. L'administrateur informe de sa revocation prochaine peut,   dans une declaration ecrite, e&poser a Ia societe le motif de son opposition   a cette revocation, et Ia societe doit faire parvenir cette declaration   ecrite aux actionnaires fondes a voter en ('occurrence. 26. Remuneration. La   remuneration des administrateurs est celle fixee par le conseil   d'administration, de temps a autre, par resolution, ou par un comite auquel   les administrateurs peuvent dcHeguer le pouvoir de le faire. Cette   remuneration est en sus du salaire ou de Ia remuneration que re oit comme tel   un officier, salarie ou prestataire de service de Ia societe qui se trouve   aussi administrateur. Les administrateurs peuvent aussi recevoir le   remboursement des depenses de voyage et autres encourues en relation avec les   affaires de Ia societe. De plus, les administrateurs peuvent, par resolution,   accorder une remuneration particuliere a tout administrateur qui entreprend   pour lecompte de Ia societe quelque Service special autre que le travail   auquel un administrateur est norrnalement tenu envers Ia societe. 27.   Resolutions signees. Une resolution ecrite, signee par taus les   administrateurs ayant droit de vote sur cette resolution lors d'une reunion   d'administrateurs ou d'une reunion d'un comite du conseil d'administration, a   Ia meme valeur que si elle avait ete adoptee tors d'une telle reunion. Un   exemplaire de chaque resolution visee par le paragraphe precedent doit etre   conserve avec les proces-verbaux des deliberations du conseil   d'administration ou d'un comite du conseil d'administration. 28. Pouvoirs des   administrateurs. Les administrateurs de Ia societe dirigent et administrent   son entreprise et ses affaires et exercent toute l'autorite et taus les   pouvoirs qu'a Ia societe en vertu de Ia Loi, de ses statuts et reglements, a   mains que Ia Loi ou les statuts de Ia societe n'exigent que ces pouvoirsoient   exerces par les actionnaires exclusivement ou avec leur consentement. 29.   Jrregularite. Nonobstant Ia decouverte ulterieure d'une irregularite   quelconque dans l'election du conseil d'administration ou Ia nomination des   dirigeants de Ia societe ou encore nonobstant Ia decouverte d'une presumee   irregularite dans l'election d'une personne agissant comme administrateur ou   dans sa qualification, les actes poses par une reunion du conseil   d'administration ou par une persoMe agissant comme administrateur au comme   dirigeant, soot valides et lient Ia societe comme si !'election ou Ia   nomination avait ete reguliere ou le conseil d'administration ou cette   personne diiment qualifiee. 30. Pouvoir d'attribuer des actions et de   consentjr des Qptions. Sous reserve des dispositions des statuts de Ia   societe, Jesquels comporteraient des restrictions sur I'emission et   I'attribution des actions de Ia societe, le conseil d'administration peut de   temps a autre accepter des souscriptions, attribuer,emettre le tout ou toute 

    

 

- 10 - partie   des actions non emises de Ia societe, consentir des options relatives a ces   actions ou autrement disposer en faveur de toute personne d'une partie ou de   toutes les actions non emises de la societe, en Ia maniere, aux conditions et   pour une consideration conformcs a Ia Loi ou statuts de Ia societe que Ie   conseil d'administrationjuge a propos. Pouvoir de declarer des dividendes. Le   conseil d'administration peut, de temps a autre, lorsqu'ille 31. juge   opportun et dans Ia mesure permise par Ia Loi, declarer et payer aux   actionnaires, suivant leurs droits, des dividendes en argent ou en biens ou   sous forme d'actions de Ia societe. Un transfert d'actions ne cede pas le   droit aux dividendes declares sur ces actions avant !'enregistrement de ce   transfert. Lorsque deux personnes ou plus soot enregistrees comme detenteurs   conjoints d'une action, chacune d'entre elles peut donner une quittance   valide a l'egard de tout dividende payable sur cette action. 32. Utilisation   de biens ou d'infoonation. Tout administrateur est tenu, dans l'exercice de   ses fonctions, d'agir avec integrite et de borme foi au mieux des interets de   Ia societe. II ne peut, notamment, confondre les biens de Ia societe avec les   siens ni utiliser a son profit ou au projet d'un tiers, les biens de Ia   societe ou !'information qu'il obtient en raison de ses fonctions, a mains   qu'il ne soit expressement et specifiquement autorise a le faire par les   actionnaires de Ia societe. 33. Conflits d'interets. Chaque administrateur   doit cviter de se placer dans une situation de conflit entre son interet   personnel et ses obligations d'administrateur de Ia societe. II doit denoncer   sans delai a Ia societe tout interet qu'il possede dans une entreprise ou une   association susceptible de le placer en situation de conflit d'interets,   ainsi que les droits qu'il peut faire valoir contre elle, en indiquant, le   cas echeant, leur nature et leur valeur. Cette denonciation d'interet est   consignee au proces-verbal des deliberations du conseil d'administration ou a   Ia resolution signee en tenant lieu. A Ia demande du president ou de tout   administrateur, l'administrateur place dans une situation de conflit   d'interet doit quitter Ia reunion pendant que le conseil d'administration   delibere et vote sur Ia question. 34. Contrat avec Ia societe. Un   administrateur ou un dirigeant peut, meme dans l'exercice de ses fonctions,   etre partie a un contrat important avec Ia societe, ou etre administrateur,   dirigeant QU detenteur d'un interet important dans une personne morale partie   a ce contrat. II doit alors divulguer, par ecrit a Ia societe, conformement a   l'articJe 120 de Ia Loi, Ia nature et l'etendue de son interet dans ce   contrat, ou demander que celles-ci soient consignees au proces-verbal des   deliberatipns du conseil d'administration, et ce meme si ce contrat, dans le   cadre de l'activite commerciale normale de Ia societe, ne requiert   )'approbation ni des administrateurs ni des actionnaires. Un avis general que   l'administrateur ou le dirigeant est administrateur, dirigeant ou detenteur   d'un interet important dans une personne morale, et qu'il doit etre considere   com me ayant une interet dans tout contrat conclu avec elle, constitue une   divulgation suffisante aux fins du present reglement. 

    

 

-   11-L'administrateur ainsi interesse dans un contrat avec Ia societe ne peut   deliberer ou voter sur Ia resolution presente pour faire approuver le   contrat, sauf s'il s'agit d'un contrat vise a )'article 120(5) de Ia Loi,   c'est-a-dire portant notamment sur Ia remuneration ou l'indemnisation de cet   administrateur, ou conclu avec une personne morale de meme groupe que la   societe. A Ia demande du president ou de tout admhtistrateur,   l'administrateur interesse doit quitter Ia reunion pendant que le conseil d'administration   delibere et vote sur le contrat en question. Ni Ia societe, ni J'un de ses   actionnaires, ne pourra contester Ia validite d'un contrat conclu avec un   administrateur ou dirigeant de Ia societe, ou avec une personne morale dans   Jaquelle cet administrateur ou dirigeant est administrateur, dirigeant ou   detenteur d'un interet important, pour ce seul motif, du moment que cet   administrateur ou dirigeant a divulgue son interet tel que susmentionne, que   le conseil d'administration ou les actionnaires de Ia societe ont approuve le   contrat, et que ce contrat etait, a cette epoque, equitable pour Ia societe.   LA DIRECTION 35. Dirigeants. La direction de Ia societe se compose des   dirigeants, que le conseil d'administration peut de temps a autre juger   necessaire de nommer, incluant Je president du conseil d'administration, s'il   en est nomme un, le president, un ou plusieurs vice-presidents,   l'administrateur-gerant ou directeur general, le controleur, le secretaire et   le tresorier. Sous reserve des pouvoirs qui, en vertu de Ia Loi, ne peuvent   etre exerces que par le conseil d'administration, le president et, s'ils sont   nommes, les autres dirigeants de Ia societe exercent respectivement les   pouvoirs et l'autorite et accomp1issent les devoirs qui peuvent de temps a autre   etre prescrits par le conseil d'administration en plus de ceux qui sont   specifies dans ce reglement. La meme pcrsonne peut occuper deux ou plusieurs   pastes dans Ia direction de la societe. Aucun dirigeant de Ia societe, a   ('exception du president du conseil d'administration, s'il en est un, de   l'administrateur-gerant, s'il est nomme, et du president, n'a besoin d'etre   administrateur de Ia societe. Le conseil d'administration peut egalement de   temps a autre nommer d'autres mandataires,dirigeants et employes de Ia   societe, a l'interieur comme a l'exterieur du Canada; ceux-ci peuvent se voir   decemer les titres, exercer les pouvoirs et l'autorite (y compris le pouvoir   de sous-delegation) et remplir les devoirs de direction ou autres que le   conseil d'administration pcut de temps a autre determiner. · En cas d'absence   d'un dirigeant ou d'un employe de Ia societe ou pour toute autre raison que   le conseil d'administration peut estimer suffisante, ce demier peut deleguer   temporairement les pouvoirs et l'autorite de tel dirigeant ou employe a un   autre dirigeant ou a un autre employe ou a tout administrateur de Ia societe.   36. President du conseil d'admjnistration. Le president du conseil   d'administration preside toutes les reunions du conseil d'administration; il exerce   les pouvoirs et l'autorite et remplit les autres devoirs que le conseil   d'administration peut de temps a autre prescrire. 

    

 

- 12 - 37.   President. Le president est le principal dirigeant de Ia societe et, sous le   controle du conseil d'administration, il surveille, administre et dirige   l'entreprise et Jes affaires de Ia societe generalement. Le presi ent preside   a toutes les assemblees d'actionnaires a mains qu'il n'en soit decide   autrement par le conseil d'administration, et en cas d'absence, d'incapacite   au de defaut d'agir du president du conseil d'administration, le president,   au en son absence, l'un au l'autre des vice-presidents, preside a toutes les   reunions du conseil d'administration. Le president exerce les autres pouvoirs,   a toute autorite et remplit les autres devoirs que peuvent de temps a autre   prescrire Ie conseil d'administration de Ia societe. 38. Vice-president. Le   vice·.:president au, s'il yen a plus d'un, les vice-presidents, exercent les   pouvoirs, ant l'autorite et remplissent les devoirs que peuvent de temps a   autre prescrire le conseil d'administration ou le president. 39. Directeur   general au adminjstrateur-gerant. Le directeur general doit, sous le controle   du president, diriger les operations de Ia societe generalement, et il exerce   taus les autres pouvoirs, a l'autorite et remplit taus les autres devoirs que   peuvent de temps a autre prescrire le conseil d'administration.   L'administrateur-gerant doit etre •resident canadien• et etre administrateur.   Le conseil d'administration peut deleguer a cet administrateur-gerant taus   les pouvoirs du conseil sauf les pouvoirs qu'un administrateur-gerant n'a pas   Je droit d'exercer en vertu de Ia Lei. 40. Secretajre. Le secretaire s'occupe   de donner taus les avis de Ia societe. II doit garder les proces-verbaux de   toutes les reunions des administrateurs, des comites du conseil   d'administration et des assemblees des actionnaires dans un au pJusieurs   livres tenus a cet effet. II doit garder en surete le sceau de Ia societe. II   est charge des archives de Ia societe et des registres contenant les noms et   adresses des membres du conseil d'administration de Ia societe, les copies de   taus les rapports faits par Ia societe et taus Ies autres livres au documents   que les administrateurs peuvent prescrire. II est responsable de Ia garde et   de Ia production de tout registre, rapport, certificat et de taus les autres   documents que Ia lei oblige Ia societe a garder et a produire. II est soumis   au controle du president et ilexerce taus les autres pouvoirs, a l'autorite   et remplit taus les autres devoirs que le conseil d'administration ou le   president peuvent de temps a autre prescrire. Des secretaires adjoints   peuvent remplir les devoirs du secretaire. 41. llisorier. Le tresorier a Ia   charge generate des fmances de Ia societe. 11 doit deposer l'argent et les   autres valeurs de Ia societe au nom de celle-ci et a son credit dans toute   banque au toute autre institution de dep6t designee de temps a autre par Je   conseil d'administration;ildoit, chaque fois qu'il en est requis, rendre   compte au president et aux administrateurs de Ia situation fmanciere de Ia   societe et de toutes ses operations comme tresorier; aussitot que possible   apres Ia cloture de chaque exercice financier, it doit preparer et soumettre   au president et aux administrateurs un compte tel que prevu plus haut pour   tel exercice fmancier. II a Ia charge et Ia garde des livres de comptes et il   en est responsable. II est soumis au controle du president et il exerce tous   les autres pouvoirs, a l'autorite et remplit tous les devoirs que peuvent de   temps a autre prescrire le conseil d'administration au le president. Des   tresoriers adjoints peuvent remplir les devoirs du tresorier. 

    

 

- 13 - 42.   ControJeur. Le contro)eur exerce, sous le controle du president et du   tresoricr, tous les pouvoirs et a toute l'autorite qui peuvent de temps a   autre etre presents parIes administrateurs, le president et le tresorier et,   a defaut de telle prescription, il agit comme chef comptable de Ia societe.   43.Destitution. renvoi et demission. Les administrateurs peuvent, par le vote   affirmatif de Ia majorite du conseil d'administration, destituer tout   dirigeant, avec ou sans cause, en tout temps, a moins que le contrat ou Ia   resolution prevoyant sa charge ne stipule le contraire.Tout mandataire ou   employe qui n'est pas un dirigeant de Ia societe peut etre renvoye par le   president ou tout autre dirigeant autorise a cette fin par le president, avec   ou sans cause, en tout temps, a moins que son contrat d'engagement ne stipule   le contraire. Tout dirigeant peut demissionner comme tel en tout temps en   remettant sa demission par ecrit au president ou au secretaire de Ia societe   ou tors d'une reunion du conseil d'administration, sauf convention a l'effet   contraire. Remuneration. La remuneration, s'il y a lieu, de tousles   dirigeants est fixec de temps a autre par 44. resolution du conseil   d'administration. COMITES DU CONSEIL D'APMINJSIRATION Election. Le conseil   d'administration peut, de temps a autre, designer parmi Jes administrateurs   des 45. comites du conseil d'administration, quelies que soient leurs   appellations, composes du nombre de •residents canadiens» requis par Ia Loi.   46. President d'assemblee.quorum et procedure. Un comite du conseil   d'administration a le pouvoir de nommer un president et un vice-president, de   fixer son quorum a au moins une majorite de ses membres et d'etablir sa   propre procedure. 47. Secretaire. Le secretaire de Ia societe agit egalement   comme secretaire d'un comite du conseil d'administration a moins qu'un autre   secretaire ne soit nomme par le comiteS. Pouvojrs. Le conseil   d'administration peut deleguer a tout comite du conseil d'administration taus   48. les pouvoirs du conseil saufles pouvoirs qu'un comite du conseil   d'administration n'a pas le droit d' xercer en vertu de Ia Loi. 49. Pouvojr   de surveillance du conseil d'administration. Toutes les procedures d'un   comite du conseil d'administration sont soumises a Ia surveillance du conseil   d'administration de Ia societe, et il doit en etre fait rapport au conseil   d'adrninistration lorsque ce demier le requiert. 50. Reunions. Les reunions   d'un comite du conseil d'administration peuvent etre tenues au siege social   de Ia societe ou a tout autre endroit a l'interieur comme a l'exterieur du   CBI)ada que le comiteS peut de temps a autre determiner. Les reunions d'un   comite peuvent etre convoquees par le president, le president du comite, le   vice-president du comite ou deux membres dudit comitC, ou sur leur ordre. 

    

 

- 14 . 51.   Remuneration. Les membres d'un comite du conseil d'administration ont droit   pour leurs services ace titre a Ia remuneration que le conseil   d'administration peut de temps a autre fixer. 52. Destitution et   remplacement. Le conseil d'administration peut en tout temps destituer   n'importe lequel des membres d'un comite du conseil d'administration. Le   conseil d'administration peut egalement de temps a autre combler toute   vacance qui peut survenir au sein d'un comite du conseil d'administration.   1NDEMN1SATION DES ADMINJSIRATEVRS ET DIRIGEANTS 53. Indemnjte. Sous reserve   des restrictions prescrites par Ia Loi, Ia societe doit indemniser tout   administrateur, dirigeant, ancien administrateur ou ancien dirigeant de   celle-ci ainsi que toute personne qui agit ou a agi a Ia demande de Ia   societe en qualite d'administrateur ou de dirigeant d'une societe dont Ia   societe est ou etait elle-meme actionnaire ou creancier, de meme que leurs   heritiers ou representants legaux, de tous les frais, debourses et depenses,   y compris une somme payee pour transiger sur un proces ou satisfaire a un   jugement, que toute telle personne a raisonnablement engages en raison de   toute action ou procedure civile, penale ou administrative dans Jaquelle elle   s'est trouvee partie en raison du fait qu'eJte est ou etait administrateur ou   dirigeant de Ia societe ou de telle compagnie, pourvu : a) qu'elle ait agi   avec integrite et de bonne foi au mieux des interets de Ia societe; et b)   dans le cas d'une action ou procedure penale ou administrative dont le   denouement est assorti d'une condamnation en argent, qu'il y ait eu des   motifs raisonnables de..c. roire que sa conduite etait confonne a Ia loi. Les   administrateurs de Ia societe sont par les presentes autorises a indemniser   de temps a autre tout administrateur ou autre personne qui a assume ouest sur   le point d'assumer dans le cours ordinaire des affaires quelque   responsabilite pour Ia societe ou pour toute societe controlee par cette   demiere, et de garanti.r tel administrateur ou autre personne contre une   perte par le mise en gage de tout ou partie des biens meubles ou immeubles de   la societe par Ia creation d'une hypotheque ou de tout autre droit reel   sur.le tout ou partie de ceux ci ou de toute autre maniere. 54. A ssurance.   Dans Ia mesure pennise par Ia Loi, Ia societe peut souscrire et maintenir en   vigueur, au benefice de toute personne mentionnee ci-dessus, une assurance   contre tout type de responsabilite que peut fixer de temps a autre Je conseil   d'administration. CAPITAL SOCIAL 55. Certjficats d'actjons et transferts   d'actjons. Les certificats representant les actions du capital social de Ia   soci te portent Ia signature du president ou d'un vice-president et celle du   secretaire. La signature du 

    

 

- 15-president   ou du vice-president peut etre gravee, lithographiee ou autrement reproduite   mecaniquement et, au cas oil Ia societe aurait nomme un agent de transfert,   Ia signature du secretaire ou du secretaire adjoint peut egalement y etre   gravee, lithographiee ou autrement reproduite mecaniquement. Tout certificat   portant Ia reproduction fac-simile des signatures de tels dirigeants   autorises est repute avoir ete signe a Ia main par ceux-ci et est aussi   valide a toutes fins quelconques que s'il avait etc signe a Ia main,   nonobstant le fait que Ia personne dont Ia signature est ainsi reproduite ait   cesse, a Ia date du certificat ou au moment de son emission, d'etre dirigeant   de Ia societe. Chaque certificat d'actions doit comporter toutes Jes   restrictions assorties a son transfert et toutes les autres mentions requises   par Ia Loi. Registre des yaleurs mobilieres. La societe ou son agent doit   tenir a son siege social ou a tout autre 56. endroit au Canada designe a   cette fin par le conseil d'administration, un registre central des valeurs   mobilieres. Le conseil d'administration peut, de temps a autre, faire en   sorte qu'un ou plusieurs registres Jocaux des valeurs mobilieres soient tenus   en des endroits, au Canada ou ailleurs, designes par une resolution, et peuvent   nommer des dirigeants ou agents pour les tenir et y effectuer et enregistrer   les transferts d'actions du capital social de Ia societe. 57. Agents de   transfert et agents char es de Ia tenue des registres. Les agents de Ia   societe responsables de Ia tenue du registre central des valeurs mobilieres   de Ia societe et de ses registres locaux peuvent, seton leur fonction, etre   designes comme agents de transfert et agents charges de Ia tenue des   registres de Ia societe. Le conseil d'administration peut, en tout temps,   mettre fin a rengagement de tels agents de transfert et agents charges de Ia   tenue des registres. 58.Date de reference et fenneture des registres. Sous   reserve des dispositions de Ia Loi relatives a sa notification, le conseil   d'administration peut fLXer a l'avance, par resolution, une date precedant   d'au plus 50 jours Ia date du paiement d'un dividende ou d'une allocation de   droits, ou Ia date oil un changement, une conversion ou un echange d'actions   du capital social de Ia societe prendra effet, comme date de reference aux   fins de determiner quels actiormaires ont droit au versement de tel   dividende, a !'attribution de tels droits ou peuvent exercer des droits a   l'occasion du changement, de Ia conversion ou de J'echange dans le capital   social de Ia societe, avec Ia consequence que seuls les actiormaires inscrits   a Ia date ainsi fLXee par le conseil d'administration auront droit a tel   versement de dividende, a !'attribution de tels droits ou a l'exercice de   tels droits, selon le cas, nonobstant tout transfert d'actions aux registres   de Ia societe apres telle date de reference. Certjficats perdus ou detruits.   Le conseil d'administration peut, aux conditions qu'iljuge apropos 59. au   sujet de l'indemnisation et autrement, ordormer l'emission d'un nouveau   certificat ou de nouveaux certificats en remplacement de tout certificat   prealabJement emis par Ja societe et qui a ete deteriore, perdu, vole ou   detruit. Le conseil d'administration, lorsqu'il autorise l'emission d'un ou   plusieurs nouveaux certificats, peut, a sa discretion, et comme condition de   cette nouvelle emission, exiger du proprietaire de tel certificat deteriore,   perdu, vole ou detroit, ou de ses representants legaux, qu'il donne a Ia   societe et a l'agent ou aux agents de transfert eta l'agent ou aux agents   charges de Ia tenue des registres qui peuvent etre autorises ou requis de   contresigner tel nouveau certificat ou nouveaux certificats, un cautionnement   au montant qu'ils peuvent determiner, de les indemniser contre toute   reclamation qui peut etre faite contre eux ou l'un quelconque d'entre eux au   sujet des actions representees par les certificats qu'on allegue avoir ete   deteriores, perdus, voles ou detruits. 

    

 

- 16 EXERCICE   FINANCIER ET vERIFICATION Exercjce financier. La periode de l'exercice   financier de Ia societe est determinee de temps a autre 60. par les   administrateurs. Verification. Saufdans les cas oil Ia Loi le prescrit   autrement, les actionnaires, a chaque assemblee 61. annuelle, nomment un   verificateur qui detient son poste jusqu'a l'assembtee annuelle suivante et   jusqu'a ce que son successeur ait ete nomme, a moins qu'il ne demissionne ou   que son poste ne devienne vacant de par son deces. Au moins une fois par   exercice financier, ce verificateur doit examiner les comptes de Ia societe   et les etats financiers deposes devant Ia societe a l'assemblee annuelle, et   il doit faire rapport a ce sujet aux actionnaires. Sa remuneration est ftXee   par le comite de verification ou par Je conseil d'administration, si ce pouvoir   n'est pas exerce par les actionnaires. Le verificateur est independant de Ia   societe, des personnes morales de son groupe ou de leurs administrateurs ou   dirigeants, confonnement a Ia Loi. Le verificateur peut etre revoque en tout   temps par les actionnaires reunis en assembtee extraordinaire. Une vacance   creee par Ia revocation du verificateur peut etre comblee par les   actionnaires, a l'assemblee ou le verificateur a ete revoque, ou, si elle   n'est pas ainsi comblee, par le conseil d'administration. Toute autre vacance   au poste de verificateur sera comblee par Je conseil d'administration,   confonnement a !'article 166 de Ia Loi. REPRESENTATION DE LA socxtrt A   CERTAINES FINS 62. Declaration. Le president, tout vice-president,   l'administrateur-gerant, le directeur general, le controleur, le secretaire   et le trcsorier, ou l'un quelconque d'entre eux, ou tout autre dirigeant ou   toute personne a ce autorisee par le conseil d'administration, soot autorises   et habilitcs a repondre pour Ia societe a tout bref, ordonnance et   interrogatoire sur faits et articles emis par tout tribunal, a repondre ou a   faire une opposition au nom de Ia societe a toute saisie et a declarer au nom   de Ia societe sur tout bref de saisie-arret dans lequel Ia societe est tierce   saisic, a faire tout affidavit ou declaration assermentee en relation avec   telle procedure ou en relation avec toute procedure judiciaire a laquelle Ia   societe est partie, a faire des requetes pour ordonnance de liquidation, de   sequestre ou de faillite contre tout debiteur de la societe, de meme qu'a   etre presents et a voter a toute assemblee de creanciers des debiteurs de 'ta   societe et a accorder des procurations relatives a ces procedures. . 63.   Rccpresentatjon aux assembtees. Le president, tout vice-president, l'administrateur-gerant,   le directeur general, Ie secretaire et le tresorier, ou t:un quelconque   d'entre eux, ou toute autre personne ainsi autorisee par le president du   conseil d'administration, representent Ia societe, assistent et votent a   chaque assemblee d'actionnaires au de membres de toute entreprise, compagnie,   societe ou syndicat dans lequel Ia societe detient des actions ou est   autrement interessee, et toute action prise et tout vote donne par eux ou   J'un d'entre eux a tellcs assemblees sont reputes etre l'acte et le vote de   la societe. Deu;l( des personnes suivantes, soit le president, tout   vice-president, le directeur general, l'administrateur-gerant, le secretaire   et le tresorier ont de plus le pouvoir d'autoriser toute p rsonne (qu'elle 

    

 

- 17 - soit   dirigeant de _Ia societe ou non) a assister, voter et autrement agir a toute   assemblee d'actionnaires ou de membres de toute entreprise, compagnie,   societe ou syndicat dans lequella societe detient des actions ou est autrement   interessee, et a cette fin, ils sent autorises a signer et a delivrer de   temps a autre pour Ia societe, a sa place een son nom, une procuration dans   Ia forme et selon les tennes que ces dirigeants jugent a propos, y compris,   mais sans restreindre aucunement Ia generalitc de ce qui precede, les clauses   pour Ia nomination d'un fonde de procuration substitue et Ia revocation de   toute procuration doimee anterieurement par Ia societe relativement a une   telle assemblee. 64. Signature de documents. Les contrats, les documents, les   actes ecrits, incluant les quittances et mainlevees, necessitant Ia signature   de Ia societe peuvent etre valablement signes par le president seul, ou par   une des personnes designee par le president et ainsi lier Ia societe: tout   vice-president, l'administrateur­ gerant ou directeur general, le secretaire   et le tresorier. Le conseil d'administration peut egalement designer toute   autre personne pour signer et pour livrer au nom de Ia societe taus les   contrats, documents et actes ecrits, et telle autorisation peut etre donnee   par resolution en termes generaux ou specifiques. Declarations au rcgistre.   Les declarations devant etre produites a l'inspecteur general des   institutions 65. financieres seton la Loi sur Ia publicite legale des entreprises   individue/les, des societes et des personnes morales sont signees par le   president, tout administrateur de Ia societe, ou toute autre personne   autorisee a cette fin par resolution du conseil d'administration. Tout   administrateur ayant cesse d'occuper ce paste par suite de sa demission, de   sa destitution ou autrement est autorise a signer au nom de Ia societe et a   produire une declaration modificative a l'effet qu'il a cesse d'etre   administrateur, a compter de quinze (1S) jours apres Ia date ou cette cessation   est survenue, a mains qu'il ne re'roive une preuve que Ia societe a produit   une telJe declaration. Eric Dupont President et chef de Ia direction 

    

 

 

LES   LABORATOIRES IETERNA INC. r CODE OF GENERAL BY-LAWS enacted in accordance   with the provisions of the Canada Business Corporations Act Adopted on   November 29, 1995 

    

 

CODE OF GENERAL   BY-LAWS OF THE CORPORATION TABLE OF CONTENTS DEFINITIONS OFFICES AND   CORPORATE SEAL I . 2. Offices . .. . .. . .. .. .... . . . . . . .... .. . .   . . . . . . . . . .. . . . . . . . ... . . . . . . . . . . I Seal ..   ........... . .. . . ... . ...... .... . .. .. . . . ....... . . ....... ..   ... . . 1 SHAREHOLDERS 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. I 4. 15. Annual   Meetings .. .......... . ....... . .. . .. .. ... . .. . .... ...... .......   2 Special Meetings . .... .. ..... . ............. . ... ... . . .. .   .............. 2 Place of Meetings . . ........ . . .·.... . ....... .. .....   . . .. . .... ........... 2 Notice of Meetings . .. ..... . . . . .. ..... .   .. . ....... ...... . .. . . . .. . .. . ... 3 Chairman .. .. . .. .... ...•.   .. ... .... . . . ....... .. .. . ... . . .... .. . . .. .. . 4 Quorum .. .   .. . ...... .. .. . .. ... ...... .. . . .. . . . . .. .. . .. . .. ..... .   ..... 4 Representation at Meetings .. .. . ... . .. .... .. ....... . .... ..   .... . . ... .. . . 4 Voting .. . ... . .. .... . ...... . .. . . .. . . ..   .. . . .... ... . .. ... . .. ... .. .. .. 5 Procedure at Meetings . .   ........... .. . . ............ ... . ..... .......... 6 Scrutineers . . . ..   . . . . . . . . .. ..... . . . . . .. . . . . . . .. . .. . . . . . . . . .   .. . . . . . . . . 6 Subsequent Transferees . . ..... . .... ... . .. . .. .   ... ... . . .. .. . . . ...... .. . . 6 Addresses of Shareholders ... . ... .   .. .. . .. . . .. . .. . .... . . .. .... ... . .... .. 6 Signed Resolution .   . .. ............ ... .... ..... . . . .. ..:..... .. ........6 BOARD OF   DIRECTORS 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. Number ............   . . .. .................. ...... .. .. .. . .........·.. .. 6 Election and   Term of Office .... .............................. . ... . ... . 6 Vacancy .   . ..... . . . . . . . . .. ... . .... ... . ..... . . . ... . ... . .. . . .   . . . . . . . . . 7 Replacement ....... .. .. . .. .......• . .... . . ..   ............ . .......... . . 7 Qualities Required .. ..... .. .. ..·... . ..   . ... .. . .. ..... .... . .. ... .... .... 7 Meetings and Notices . ........   .. .... .. .... .. .. ... ... . .. .... . . ..... ... . 7 Participation by   Technical Means .............. :... ...... ........ .. ... .. 8 Quorum . ....   . .. . . . . . .. . . . . . . . .. . . .. .. .. . ... . .. . . . . . . .. . .   . .... ... . . 8 Resignation ...... ; .. ... .... ...................   ................. .. .. 9 Removal ...... .. . ....... . ............. . .....   . ................ . . . ... 9 Remuneration . . .. .. ..•.. ... ......... . .   . ....: .... . .. .. .... ..... ....... 9 Signed Resolutions ......... ......   .. . . . . . ........ ... . .. . ....... . ...... 9 

    

 

28. 29. 30. 3   l. 32. 33. 34. Powers of Directors .. . .... .. . ... . ..·..   ..................... .... . .. ....9 Irregularity ... . ... .. .   ............. .... . ... ... .. ....... .........-... . 10 Power to Allot   Stock and Grant Options ................ . ...... ....... .. . 10 Power to   Declare Dividends . .. . .. . .... . .. ....................... . . ... 10   Use of Property or Information ........................................ 10   Conflicts oflnterest ... .... ............. . ... . .. .. ..... . ....... .   ...... 10 Contracts with the Company . . .................. .. ...   .............. . .. 10 MANAGEMENT 37. 38. 39. 40. 41. 42. 43. 44. 45. 46.   Officers ...... ................... .. . . ....... . .. ... .......... . ...   . .. 12 Chairman of the Board ................ . ...........................   . .. 13 President ...... ... ...... ......... .. .   ............................... 13 Vice-President ........ . .......... .   .............. . ............ ...... 13 ·Chief Executive Officer or Managing   Director ... ...... ...............r•••• 13 Secretary ................ .... ..........   .. .......... .. . ............. 13 Treasurer ............... . .. . .... ...   ....... . ... ............. ... .. ..13 Comptroller .....................   ..................... ........ . .. .. 14 Removal, Discharge and Resignation   .......... . ........... ....... . ..... 14 Remuneration   ................................................... . .. I 4 COMMITTEES OF   THE BOARD OF DIRECTORS 47. 48. 49. 50. 5 I . 52. 53. 54. Election   ..................·. ........ ... ... ..... ... .. .. .... . ..... .. . I4 Chairman,   Quorum and Procedure ..................... .. .. .... ........ . 14 Secretary   ...... ..................................... . ............ . . 14 Powers .   .. .. . .. . .......... ..... . ... .......... .. ................... 14   Proceedings open to the Board ......................................... 15   Meetings ..... ....... . .............. ... . .. ........ .. ...... . .......   . 15 Remuneration ......................... ..... . ................... ....   15 Removal and Replacement .... ......... ........ ......... ............ ..   15 INDEMNJFICAIION OF DIRECTORS AND OFFICERS 55. Indemnity   ......................................................... 15 56. Insurance   ......................................................... 16 CAPITAL STOCK   57. 58. 59. 60. 61. Share Certificates and Stock Transfers ..............   ........... ...... ... 16 Securities Register ...................... ....   ................ . ..... .. 16 Transfer Agents and Registrars   ...................... .................. 16 Record Date and Closing of Books   ................................... ··16 Lost and Destroyed Certificates   ....._................ ................... 17 

    

 

FISCAL YEAR AND   AUDIT 62. Fiscal year . ... . . .. . . . . . . .. . . .. . . . ... . . . . .   . . . . . . . . . . . . . .. . . . . . . . . . . 17 63. Audit .. . .. ... .   .. . . . ...... . . .. ... .. . . .... . ...... . . . . . . ... ... . .. ...   17 REPRESENTAIION OF THE CORPORATION FOR CERTAIN PVRPOSES 64. 65. 66. 67.   Declaration ... .... .. .. . . . . ... .... . .. . . .. .. . . . .... .   ........ . . . .. ... . 18 Representation at Meetings . . . . . .. ..... ....   .. . . . ... . .............. . .. . 18 Signature of Documents .. . . . . .   ............. .. . ....................... 18 Declarations in Register .... .   .. .. . . .......... . . . ... ... ............ . .. . 18 

    

 

CODE OF GENERAL   BY LAWS OF THE CORPORATION enacted in accordance with the provisions of the   Canada Business Corporations Act DEFINITIONS For the purposes of these   by-laws, unless otherwise provided, the following terms or expressions have   the meanings set forth hereinbelow: "Act.. means the Canada Business   Corporations Act, R.S.C. (1985) ch. C-44;--as well as any amendment that may   be made thereto, and any statute that may be substituted therefor. -   "Resident Canadian" has the particular meaning ascribed to such   expression by the Act. "Ordinary Resolution" means a resolution   adopted by the majority of the votes cast by the shareholders entitled to   vote in the circumstances concerned, or signed by the aggregate of the   shareholders. "Special Resolution" means a resolution adopted by no   less than two-thirds of the votes cast by the shareholders entitled to vote   in the circumstances concerned, or signed by the aggregate of the   shareholders. "Auditor" means the auditor of the Corporation and   includes a firm of auditors. OFFICES AND CORPORATE SEAL Office:2. The   Corporation may,in addition to its registered office, establish elsewhere   within 1. or outside Canada such offices and agencies as the directors may   from time to time determine. 2. - The seal of t4e Corporation shall be   circular in fonn and s Corporation and the year of its incorporation. If the   Corporation has a name consisting of a separated or combined French and   English fonn, the seal of the Corporation may have both the French and   English forms of the name, or the Corporation may have two (2) seals, equally   valid, one (1) showing the French and the other the English form ofthe name.   The president, or, if appointed, any vice president, or, if appointed, the   chief executive officer, the comptroller, the secretary, the treasurer or any   other officer or director so authorized by the directors, shall have   authority to affix 

    

 

-2-the seal of   the Corporation to any document requiring the same. The Corporation may, in   addition, have for use in any province other than that in which the   registered office of the Corporation is situate, or in any territory in   Canada, or in any place outside Canada, an official seal which shall be a   facsimile of the seal of the Corporation, with the addition on its face of   the name of the province, territory or place where it is to be used and the   Corporation may, by writing, authorize any person to affix the official seal   to any deed or document to which the Corporation is a party in such province,   territory or place. When the articles set forth the name of the Corporation   in a language other than French or English, for use outside Canada, the   Corporation may, in view of such use, have a seal in circular form bearing   the name of the Corporation in such other language as wen as the year of its   incorporation and including the name of the place where such name is to be   used by the Corporation. The Corporation may by writing authorize any person   to affix such seal to any deed or doctunent to which it is a party in such place.   SHAREHOLDERS 3. Annual Meetings. Subject to the provisions of the Act, the   annual meeting of the shareholders of the Corporation shall be held on such   date ineach year, at such time and, subject to By-law Number 5, at such place   as the board of directors may determine to receive and consider the financial   statements with the report of the auditor or auditors, to elect directors, to   appoint an auditor or auditors and to fix or to authorize the board of   directors to fix his or their remuneration and to consider, deal with and   dispose of such other business as may properly come before a meeting of   shareholders. Any annual meeting may also constitute a special meeting to   take cognizance and dispose of any matter of which a special meeting may take   cognizance and dispose. 4. Special MeetiniS. Special meetings of the   shareholders may be called at any time by or by order of the president or the   board of directors of the Corporation and shall be called when .one or more   shareholders who hold at least 20% of the outstanding voting shares so   request in accordance with the Act. 5. Place of Meetings. Meetings of the   shareholders shall be held at the registered office of the Corporation or at   such other place as may be fixed by the bod of directors. However, meetings of   the shareholders may not be held outside Canada unless all shareholders   entitled to vote thereat so agree in writing, by telegram, telecopy or cable,   before or after they have been held or by attending the meetings in person,   by proxyholder or in the case of a body corporate or an association by a   representative duly authorized in accordance with the provisions of By-law   Number 9; nevertheless, a shareholder who attends a meeting held outside   Canada is not deemed to have so agreed if he is 

    

 

3-present for   the express purpose of objecting to the transaction of any business on the   grounds that the meeting is not lawfully held. 6. Notice of Meetings. Notice   of each annual meeting and of each special meeting of the shareholders shall   be delivered to the shareholders entitled to vote thereat, the directors and   auditor or auditors or, in the discretion of the person charged with the   giving of such notice, mailed by unregistered mail, postage prepaid, cabled,   telecopied or telegrammed, addressed to such shareholders, directors and   auditor or auditors at their respective addresses as they appear in the books   of the Corporation, not less than twenty-one (21) days and not more than   fifty (50) days prior to the date ftxed for such meeting. lfthe address of   any shareholder, director or auditor does not appear in the books of the   Corporation, the notice may be sent as aforesaid to such address as the   person sending the notice may consider to be most likely to reach such   shareholder, director or auditor promptly. A shareholder and any other person   entitled to attend a meeting of shareholders may waive such notice in   writing, by telegram, telecopy or cable, before or after the holding of such   meeting or by attending the meeting in person, or, in the case of   shareholders, by proxyholder or in the case of a body corporate or an   association by a representative duly authorized in accordance with the   provisions of By-law Nwnber 9; neverthel ss, a person who attends such a   meeting is not deemed to have waived the right to notice of the meeting when   he so attends for the express purpose of objecting to the transaction of any   business on the grounds that the meeting is not lawfully held. Such notice   shall indicate the time, date and place of each meeting. The notice of an   annual meeting may, but need not necessarily, set forth the nature of the   business that will constitute the agenda thereof, when any such meeting is   convened only to consider the financial statements and the auditor's report,   to elect the directors and to renew the term of office of the auditor. The   notice of a special meeting shall set forth: (a) the nature of the business   that will constitute the agenda of the meeting in sufficient detail to enable   the shareholders to form a reasoned judgment thereon and (b) the text of any   special resolution to be submitted to the meeting. It is not necessary to   give notice of the reconvening of an adjourned meeting other than by   announcement at the earliest meeting that is adjourned; a new notice of   meeting is, however, required if the meeting of shareholders is adjourned one   (1) or more times for an aggregate of thirty (30) days or more. The signature   to any notice of meeting may be written, stamped, typewritten, printed or   otherwise mechanically reproduced thereon. A certificate of the secretary or   of any other duly authorized officer of the Corporation in office at the time   of the making of the certificate or of any officer, transfer agent or   registrar of transfers of shares of the Corporation shall be conclusive   evidence of the delivery t mailing, cabling, 

    

 

-4-telecopying   or telegramming of such notice of meeting and shall be binding on every   person entitled to receive notice thereof. 7. Chainnan. The president of the   Corporation, or such other person as may from time to time be appointed for   the purpose by the board of directors, shall preside at meetings of   shareholders. 8. Quorum.A quorum of shareholders is present at an annual or   special meeting of shareholders, regardless of the number of persons present   in person at the meeting, if the holder or holders of shares representing at   least twenty percent (20%) of the outstanding voting shares at such meeting   are present in person or represented in accordance with By-law Number 9   hereinbelow. If a quorum is present at the opening of the meeting, the   shareholders present or represented may proceed with the business of the   meeting, notwithstanding the fact that a quorum is not present throughout the   meeting. · If a quorum is not present within thirty (30) minutes of the time   for which such meeting is convened, the shareholders present or represented   shall adjourn the meeting to another time and place but may not transact any   other business. If a quorum is reached at the reconvening of the meeting so   adjourned, the meeting may then proceed to examine and dispose of the   business for which it was called. If at the time of the reconvening of the   meeting so adjourned there is not a quorum, the meeting shall again be   adjourned or, if the time limits set forth in By-law Number 6 have expired, a   new meeting shall be called. In the case where the Act, the articles or any   by-law of the Corporation require or permit the vote by class ofholders of a   given class of shares of the share capital of the Corporation, the quorum at   any meeting will be one or more persons representing twenty percent (20%) of   the outstanding shares of such class. If the quorum is not reached within   thirty (30) minutes of the time for which such a meeting of a class of shareholders   is convened, the shareholders of the class who are present or represented   shall adjourn such meeting to another date and place, but they may not deal   with any other business. If the quorum is reached at the reconvening of the   meeting so adjourned, the meeting may them proceed to consider and dispose of   the matters for which it had been convened.. If the quorum is not reached at   the resumption of the adjourned meeting, such meeting shall again be   adjourned or, if the time limits set out in By-Law Number 6 have expired, a   new meeting shall be convened. Representation at Meetinas. Shareholders shall   be entitled to vote in person or, if a body 9. corporate or an association,   by a representative duly authorized by resolution of the board of directors or   the board of directors of such body corporate or association. Shareholders   shall also be entitled to vote by proxyholder or by one or more alternative   proxyholders, who need not be shareholders; the proxyholder shall attend the   meeting, vote thereat and otherwise act in the manner and to the extent   authorized and with the authority conferred by the proxy. 

    

 

-5-A proxy   shall be signed by the shareholder or by his agent authorized in writing and   such signature need not be witnessed. A proxy is valid only at the meeting in   respect of which it is given or any reconvening thereof. The instrument   appointing a proxyholder may, except in cases where the Act otherwise   provides, be in the following form or in any other appropriate form:   "1/We, and constitute undersigned, shareholders ofLes Laboratoires   JEtema Inc., hereby appoint or, failing him, (or ), my/our agent(s},   representative(s) and proxies with full power and authority to attend, vote   and othenvise act for me/us on my/our behalf and_in my/our stead at the   annual (or special) meeting of the shareholders of the Corporation, which   takes place at on the day of 19 (20 ) and at any adjournment thereof, with   full power of substitution;1/we, the undersigned, hereby revoke any other   proxy given by me/us, the und rsigned, which may be used at any meeting or   any adjourrunent thereof. The agent, representative and proxyholder hereby   appointed and constituted is authorized to sign all waivers of the notice   concerning the aforementioned meeting and all adjournments thereof. Given   this day of 19 (20 )." The board of directors may, in the notice of a   meeting of shareholders set forth a date and a time, which shall not be prior   to over 48 hours, excluding Saturdays and statutory holidays, to the meeting   or its reconvening in the event of adjournment, a date prior to which the   proxies to be used at such meeting shall be deposited with the Corporation or   its agent The board of directors may also pennit particulars of proxies for   use at or in connection with any such meeting which have been deposited with   the Corporation or its agent at a place other than the place of such meeting   to be cabled, telecopied or telegrammed to the secretary of the Corporation   prior to such meeting. Insuch event, such proxies, if otherwise in order,   shall be valid and any votes cast in accordance therewith shall be counted.   10. Voting. Every question submitted to any meeting of shareholders shall be   decided by a show of hands unless a voice vote or a vote by secret ballot is   ordered or required in the manner set out in the paragraphs hereinbelow. The   chairman of any meeting may, in his discretion, order a voice vote or secret   ballot. Moreover, any shareholder or its representative may, either before or   after any vote by a show of hands, require a voice vote or secret ballot on   any question at any time before or after a vote by a show of hands is taken.   Such a demand for a ballot may be withdrawn. 

    

 

-6-If at any   meeting a secret ballot is to be taken, it shall be taken in such marmer and   either at once or after adjowrunent as the chairman directs. The result of a   secret ballot shall be deemed to be a resolution of the meeting at which the   ballot was taken whether or not a vote by a show of hands or a voice vote was   taken on the same question. At all meetings of shareholders, every   shareholder entitled to vote thereat, whether present in person or   represented, shall be entitled to one vote for each voting share at such   meeting; if, however, pursuant to the Act or the articles of the Corporation   another ratio of voting rights is established, the voting rights shall be as   determined by such other ratio. The acts of the shareholders, their   representatives and their proxyholders casting a majority of the votes in   respect of shares so represented shall be the acts of the shareholders,   except where a greater majority than a simple majority is required by the Act   or the articles of the Corporation. 11. Procedure at Meetings. The chairman   of any meeting of shareholders shall conduct the procedure thereat in all   respects and his decision on all matters, including, but without in any   manner limiting the generality of the foregoing, any question regarding the   validity or invalidity of any proxy, shall be conclusive and binding upon the   shareholders. A declaration by the chairman at any meeting that a resolution   has been carried or carried unanimously or carried by any particular majority   or lost or not carried by a particular majority shall be conclusive evidence   of the fact. The directors of the Corporation are entitled, in such sole   capacity, to attend meetings of the shareholders and speak thereat. 12. Scrutineers.   The chairman of any meeting of shareholders may appoint two persons, who may   but need not be directors, officers, employees or shareholders of the   Corporation, to act as scrutineers at such meeting. 13. SubseQuent   Transferees. Every person who, by operation of the Act, transfer or any other   means whatsoever, becomes entitled to any share, shall be bound by every   notice given in respect of such share which, prior to the entry of his name   and address on the register, is given to the person whose name appears on the   register at the time such notice is sent. 14. Addresses ofSharebolders. Every   shareholder shall finnish the Corporation with an address to or at which all   cori>orate notices intended for such shareholder may be sent as provided   in By-law Number6. Signed Resolution. Except incases prohibited by the Act, a   resolution in writing signed by 15. all the shareholders entitled to vote on   that resolution at a meeting of shareholders is as valid as if it had been   cast at a meeting of the shareholders. 

    

 

-7-A copy of   every resolution referred to in the preceding paragraph shall be kept with   the minutes of the meetings of shareholders. BOARD OF DIRECTORS 16. Number.   The board of directors shall be composed of such number of directors as may   be determined from time to time by the directors, subject to the minimum   number and the maximum number of directors set out in the articles of the   Corporation. 17. Election and Tenn of Office. Except (i) if the articles of   the Corporation provide for cumulative.voting, in which case the provisions   of the Act in such respect apply, (ii) .when the articles confer upon the   holders of a class or a series of shares the exclusive right to elect one or   more directors, in which case, the provisions of the articles shall prevail,   (iii) when the appointment of a director to an office of director that has   become vacant is otherwise provided for, or (iv) when the election of   additional directors is otherwise provided for, in which case the relevant   provisions of the articles shall apply, each director shall be elected by a   majority of votes cast at the arulUal meeting at which an election of   directors is required. A vote by secret ballot shall not be necessary for the   election of the directors of the Corporation unless it is required by person   attending and entitled to vote at the meeting at which such election takes   place. Each director so elected shall hold office until the election of his   successor except in the case of a resignation or if his office becomes vacant   by death or otherwise. 18. Vacancy. The office of a director shall be   automatically vacated: (a) if he dies; (b) if he resigns his office, at the   time such resignation takes effect; ifbe is removed in accordance with the   Act and no one is appointed to replace him at the meeting of the shareholders   during which be is so removed; (c) (d) ceases to be qualified as a director.   19. Replacement. Subject to the provisions of the As:t, if a vacancy occurs   on the board of directors, including a vacancy caused by an increase in the   number of directors, the remaining directors, if they constitute a quorum,   may appoint a qualified person to fill such a vacancy, or the unexpired term   of office. In the absence of a quorum, the remaining direcotrs shall   immediately convene a special meeting of the directors in order to fill such   vacancy, in accordance with section 111 of the Act. 

    

 

- 8-20.   Qualities Required. No person shall be qualified for election as a director   if he is less than eighteen (18) years of age; if he is of unsound mind and   has been so found by a court in Canada or elsewhere; if he is not an   individual; if he has the status of a bankrupt, or if a court prohibits him   from holding the office of director. A director need not be a shareholder. A   majority of the directors shall be composed of Resident Canadians, unless   otherwise set forth in the Act. If the Corporation is a corporation that   makes a public distribution of its securities, at least two-thirds of its   directors· shall not be officers or employees of the Corporation or its   subsidiaries. A retiring director, if is otherwise qualified, shall be   eligible for re-election. 21. Meetings and Notices. Immediately after the   annual meeting of shareholders in each year, a meeting of the directors who   are then present shall be held without further notice, provided a quorum is   present, for the appointment of the officers of the Corporation; such meeting   may transact such other business as may properly come before it. ... Meetings   of the board of directors may be called by or by the order of the chairman of   the board, if any, or, by or by the order of the president of the Corporation   or, by or by the order of a vice-president of the Corporation, if he is also   a director, or, by or by the order of any two directors, and may be held at   any place within or outside Canada. Notice specifying the place, date and   time of each such meeting shall be delivered to each director or left at his   residence or place of business, or shall be mailed by unregistered mail,   postage prepaid, or telegrammed, telecopied or cabled to each director at his   respective address as it appears in the books of the Corporation at least two   days prior to the date fixed for such meeting. If the address of any director   does not appear in the books of the Corporation, then such notice may be sent   as aforesaid to such address as the person sending the notice may consider to   be most likely to reach such director promptly. The board of directors may   from time to time provide for the holding of regular meetings of the board of   directors at such place, within or outside Canada, with or without notice, as   may be determined by a resolution passed to such effect. Except in respect of   questions or matters set forth in section 153(3) of the Act, including inter   alia, the declaration of dividends, the issue of securities, the acquisition   of shares issued by the Corporation, the approval of the annual financial   statements, vacancies on the board of directors or in the office of auditor   and the adoption, amendment or revocation of the by-laws. No notice of the   date, time and place of any meeting of the board of directors need be given   to any director who waives notice thereof, either in writing, by telegram, by   telecopy or by cable before or after the holding thereof or who is present   thereat; nevertheless, a director's presence at such meeting shall not   constitute a waiver of notice if the director so attends for the express   purpose of objecting to the transaction of any business on the ounds that the   meeting is not lawfully constituted. It is not necessary to give notice of   the reconvening of an adjourned meeting if the date, time and place of the   reconvening of such meeting are announced at the initial meeting. - 

    

 

-9-22. Participation   by Technical Means. The directors may, if all are in agreement, participate   in a meeting of the board of directors using technical means, including the   telephone, enabling all participants to communicate orally amongst   themselves. A director participating in a meeting using such means shall be   deemed to have attended the meeting. 23. Quorum. A majority of the number of   directors of whom the board is composed shall constitute a quorum for a   meeting of the board of directors. When the quorum is reached, the directors   may exercise their powers notwithstanding any vacancy on the board; however,   no matter shall be dealt with unless the number of directors present who are   Resident Canadians is as set out in the Act. Questions raised at any meeting   of the directors shall be decided by a majority of the votes of the directors   present. In the case of an equality of votes, the chairman of the board shall   be entitled to one (1) casting vote. 24. Resignation. A director may resign   at any time from his office, by sending his written resignation to the   president or the secretary of the Corporation at the Corporation's head   office or by remitting such written resignation at a meeting of the board of   directors. The resignation shall take effect on the date of its sending or   its remittance or on such subsequent date as may be indicated therein. 25.   Removal. Subject to the articles of the Corporation, any director may be   removed by Ordinary Resolution at a special meeting of the shareholders. The   removal, as well as the election, of a director shall be at the discretion of   the shareholders. It may be done at any time and need not be based on any   particular reasons, whether serious or not. Neither the Corporation nor the   shareholders voting in favour or the removal shall incur any liability toward   a director by the mere fact of his removal, even if there be no grounds   therefor. A director who is infonned of his imminent removal may, in a   written declaration, set forth to the Corporation the reason for his   objection to such removal, and the Corporation shall forward such written   declaration to the shareholders entitled to vote in the circumstances   concerned. 26. Remuneration. The remuneration to be paid to the directors   shall be as fixed by resolution of the board of directors from time to time   or by a committee to which the directors may delegate the power to so do.   Such remuneration shall be in addition to the salary or remuneration received   as such by an officer, an employee or a supplier of services to the   Corporation who is also a director. The directors may also be reimbursed for   such travelling and other expenses as may be incurred by them in connection   with the business of the Corporation. In addition, the directors may, by   resolution, provide special remuneration to any director who undertakes on   behalf of the Corporation any special service other than the work a director   is normally required to perform for the Corporation. 

    

 

- 10-27. Signed   Resolutions.·A resolution in writing signed by all the directors entitled to   vote on that resolution at a meeting of the directors or of a committee of   the board of directors is as valid as if it had been passed at a meeting of   the directors or of a committee of the board of directors. A copy of every   resolution referred to in the preceding paragraph shall be kept with the   minutes of the meetings of the directors or of a committee of the board of   directors. 28. Powers of Directors. The directors of the Corporation shall   manage and administer the business and affairs of the Corporation and shall   exercise all such powers and authority as the Corporation is authorized to   exercise pursuant to the Act, the articles and the by-laws and as are not by   the Act, the articles or the by-laws required to be exercised exclusively by   the shareholders or with the consent thereof. 29. Irregularity.   Notwithstanding that it be afterwards discovered that there was some defect   in the election of the board of directors or the appointment of the officers   of the Corporation or notwithstanding the discovery of an apparent   irregularity in the election of any person acting as director or in his   qualification, all acts of the board of directors or of any person acting as director   or officer shall be as valid and binding upon the Corporation as if every   such board or person had been duly elected or appointed and had been duly   qualified. 30. Power to Allot Stock and Grant Options. Subject to the   provisions of the articles of the Corporation restricting the issue and   allotment of the shares of the capital stock of the Corporation, the board of   directors may, from time to time, accept subscriptions, allot, issue all or   part of the unissued shares of the Corporation, grant options in respect of   such shares or otherwise dispose thereof to such persons, on such terms and   conditions and for such consideration and in such manner not contrary to the   Act or the articles of the Corporation as the directors think fit. 31. Power   to Peclare Dividends. The board of directors may, from time to time as it may   deem advisable and to the extent permitted by the Act, declare and pay to the   shareholders, according to their rights, dividends in money or property or in   the fonn of shares of the Corporation. Transfers of shares shall not transfer   the right to dividends declared thereon before the registration of such   transfers. In the event that two or more persons are registered as joint   holders of any share, any one of such persons may give effective acquittance   for all dividends in respect of such share. Use ofPrqperty or Infounation.   Any director is required, in the exercise of his duties, to act 32. with   integrity and good faith in the best interests of the Corporation. He may   not, in particular, mingle or use the property of the Corporation or any   infonnation he obtains by reason of his duties, for his profit or for the   profit of a third party, unless he is expressly and specifically authorized   to so do by the shareholders of the Corporation. 

    

 

- 11 - 33.   Conflicts of Interest. Each director shall avoid placing himself in a   situation of conflict between his personal interest and his obligations as a   director of the Corporation. He shall promptly disclose to the Corporation any   interest he has in any undertaking or association that is likely to place him   in a situation of conflict of interest, as well as the rights he may assert   thereagainst, indicating, should such be the case, the nature and value   thereof. Such disclosure of interest shall be entered in the minutes of the   meetings of the board of _ directors or the resolution signed in its place   and stead. At the request of the president or any director, the director   placed in a situation of conflict of interest shall leave the meeting while   the board of directors discusses such matter. 34. Contracts with the Company.   A director or an officer may, even in perfonning his duties, be a party to a   material contract with the Corporation, or be a director, an officer or a   holder of a material interest in a body corporate that is a party to such   contract. He shall then disclose, in writing to the Corporation, in   accordance with section 120 of the Act, the nature and extent of his interest   in such contract, or request that same be entered in the minutes of the   meetings of the board of directors, even if such contract, in connection with   the normal business activity of the Corporation, does not require the   approval of either the directors or the shareholders. A general notice that   the director or officer is a director, an officer or a holder of a   material_interest in a body corporate, and that he is to be considered as   having an interest in any contract entered into with it, shall constitute   sufficient disclosure for the purposes of this by-law. A director who is so   interested in a contract shall abstain from the discussion and voting on this   resolution to have the contract approved, unless the contract is one set out   in section 120(5) of the Act, namely a contract relating primarily to the   remuneration or indemnification of such director or is entered into with an   affiliate of the Corporation. At the request of the president or any   director, the interested director shall leave the meeting while the board of   directors discusses and votes on the contract concerned. . Neither the   Company nor any of its shareholders may contest the validity of a contract   entered into with a director or an officer of the Corporation, or with a body   corporate in which such director or officer is a director, an officer or a   holder or a material interest, for such sole reasons, as long as such   director or officer has disclosed its interest as aforementioned, the board   of directors or the shareholders of the Corporation have approved the   contract and such contract was, at such time, equitable for the Corporation.   MANAGEMENT 

    

 

- 12-35.   Officers. The management of the Corporation shall be composed of such   officers as the board of directors may from time to time deem necessary to   appoint, including the chairman of the board of directors, if appointed, the   president, one of more vice-presidents, the managing director or the chief   executive officer, the comptroller, the secretary and the treasurer. Subject   to the powers which, pursuant to the Act, may be exercised only by the board   of directors, the president and, if appointed, the other officers of the   Corporation shall exercise respectively the powers and authority and perform   such duties as may from to time be prescribed by the board of directors in addition   to those specified in this regulation. The same person may hold two or more   offices in the management ofthe Corporation. No officerofthe Corporation,   with the exception of the chainnan of the board of directors, if any, the   managing director, if appointed, and the president, need be a director of the   Corporation. The board of directors may also from time to time appoint other   agents, officers and employees of the Corporation, within or outside Canada,   who may be given such titles and who shall exercise such powers and authority   (including the power of sub-delegation) and perform such managerial duties or   other duties as the board of directors may from time to time determine. In   case of the absence of any officer or employee of the Corporation or for any   other reason that the directors may deem sufficient, the board of directors   may delegate temporarily the powers and authority of such officer or employee   to any other officer, employee or director of the Corporation. 36. Chairman   of the Board. The chairman of the board shall preside at all meetings of the   board of directors and shall exercise such other powers and authority and   perform such other duties which the directors may from time to time   prescribe. 37. President. The president is the principal officer of the   Corporation and, subject to the control of the board of directors, shall   supervise, administer and manage the business and affairs of the Corporation   generally. The president shall preside at all meetings of the shareholders,   unless otherwise determined by the board of directors, and in the event of   the absence, inability or failure of the chairman of the board to act, the   president, or in the event of its absence, one of the vice­ presidents, shall   preside at all meetings of the board of directors. The president shall   exercise such other powers and authority and perform such other duties as may   from time to time be prescribed by the directors of the Corporation. 38.   Vice-President. The vice-president, or if more than one, the vice-presidents,   shall exercise such powers and authority and perform such duties as may.from   time to time be prescribed by the board of directors or the president. 39.   Chief Executive Officer or Managjna Director. The chief executive officer   shall, subject to the control of the president, manage the operations of the   Corporation generally, and shall exercise such other powers and authority and   perform such other duties as may from time to time be prescribed by the board   of directors. 

    

 

• 13. The   managing director shall be a Resident Canadian and a director. The board of   directors may delegate to such managing director all of the powers of the   board except the powers that a managing director is not entitled to exercise   pursuant to the Act. 40. Secretary. The secretary shall attend to the giving   of all notices of the Corporation. He shall keep the minutes of all meetings   of the board of directors, all the committees of the board of directors ina   book or books to be kept for that purpose. He shall keep in safe custody the   corporate seal of the Corporation. He shall have charge of the records of the   Corporation including books containing the names and addresses of the members   of the board of directors of the Corporation, together with copies of all   reports made by the Corporation and such other books and papers as the board   of directors may direct. He shall be responsible for the keeping and filing   of all books, reports, certificates and all other documents required by the   Act to be kept and filed by the Corporation. He shall be subject to the   control of the president and shall exercise such other powers and   authd"rity and perform such other duties as may from time to time be   prescribed by the board of directors or the president. Assistant-secretaries   may perform any of the duties of the secretary. 41. Treasurer. The treasurer   shall have general charge of the finances of the Corporation. He shall   deposit all moneys and other valuable effects of the Corporation in the name   and to the credit of the Corporation in such banks or other depositories as   the board of directors may from time to time designate; he shall render to   the president and to the board of directors, whenever so directed, an account   of the financial situation of the Corporation and of all his transactions as   treasurer; as soon as possible after the close of each fiscal year he shall   prepare and submit to the president and to the board of directors a like   report for such fiscal year. He shall have charge and custody of and be   responsible for the keeping of the books of account. He shall be subject to   the control of the president and shall exercise such other powers and   authority and perform such other duties as may from time to time be   prescribed by the board of directors or by the president. Assistant·treasurers   may perform any of the duties of the treasurer. 42. Comptroller. The   comptroller shall, subject to the control of the president and treasurer,   exercise such powers and authority as may from time to time be prescribed by   the board of directors, the president or the treasurer, failing which he   shall act as the chief accounting officer of the Corporation. 43. Removal.   Discharge and Resignation. The directors may, by the affirmative vote of the   majority of the board of directors, remove any officer with or without cause   at any time, unless the resolution or contract providing for his appointment   stipulates otherwise. Aity agent or employee who is not an officer of the   Corporation may be discharged by the president or any other officer autorized   by the president, with or without cause at any time, unless the contract   providing for his employment stipulates otherwise. Any officer may resign as   such at any time by remitting his 

    

 

-   14-resignation in writing to the president or secretary of the Corporation or   at a meeting of the board of directors, unless otherwise agreed to the   contrary. 44. Remuneration. The remuneration, if any, to be paid to all of   the officers shall be fixed from time to time by a resolution of the board of   directors. COMMITTEES OF THE BOARD OF DIRECTORS 45. Election. The board of   directors may, from time to time, appoint from amongst their number   committees of the board of directors, however designated, containing such   proportion of Resident Canadians as may be required by the Act. r 46.   Chairman. Quorum and Procedure. Any committee of the board of directors shall   have power to appoint a chainnan and a vice-chainnan, to fix its quorum,   which quorum shall consist of not less than a majority of its members, and to   determine its procedure. 47. Secretazy. The secretary of the Corporation   shall act as secretary of each committee of directors unless some other   secretary be appointed by the committee. 48. Powers. The board of directors   may delegate to any such committee of the board of directors any of the   powers of the board except those which pursuant to the Act a committee of the   board of directors has no authority to exercise. 49. Proceedings open to the   Board. All proceedings of committees of the board of directors shall be open   to the examination of the board of board of directors of the Corporation and   shall be reported to the board of directors if and when the board of   directors so directs. 50. MeetinKS. Meetings of committees of the board of   directors may be held at the registered office of the Corporation or at such   other place within or outside Canada as a committee may from tune to time   determine. Meetings of a committee may be called by or by the order of the president,   the chairman of the committee, the vice-chairman or any two members thereof.   51. Remuneration. The members of a committee of the board of directors shall   be entitled to receive such remuneration for their services as members of the   committee as the directors may from time to time determine. 52. Removal and   Replacement. The directors may from time to time remove any member of a   committee of the board of directors from office. The board of directors may   also from time to time fill any vacancy which may occur in the membership of   a committee. 

    

 

-   15-INQEMNIFICATION OF DIRECTORS AND OFFICERS 53. Indemnity. Subject to the   limitations provided by the Act, the Corporation shall indemnify a director   or an officer of the Corporation, a former director or officer of the   Corporation or a person who acts or acted at the Corporation's request as a   director or officer of a body corporate of which the Corporation is or was a   shareholder or creditor, and his heirs and legal representatives, against all   costs, losses, charges and expenses, including an amount paid to settle an   action or satisfy a judgment, reasonably incWTed by hiin in respect of any   civil, cruninal or administrative action or proceeding to which he is made a   party by reason of being or having been a director or officer of the   Corporation or such body corporate, provided: (a) he acted honestly and in   good faith in the best interests of the Corporation; and (b) in the case of a   criminal or an admi.nistrative action or proceeding that is enforced by a   monetary penalty, he had reasonable grounds to believe that his conduct was   lawful. The directors of the Corporation are hereby authorized to indemnify   from time to time any director or other person who has assumed or is about to   assume in the normal course of business any liability for the Corporation or   for any corporation controlJed by the Corporation, and to secure such   director or other person against any loss by the pledge of all or part of the   movable or immovable property of the Corporation through the creation of a   hypothec or any other real right in all or part of such property or in any   other manner. 54. Insurance. To the extent permitted by the Act, the   Corporation may purchase and maintain insurance for the benefit of any person   referred to above against any such liability as the board of directors may   from time to time determine. CAPITAL STOCK 55. ·share Certificates and Stock   Transfers. Certificates representing shares of the share capital of the   Corporation shall bear the signature of the president or a vice-president and   the secretary. The signature of the president or vice-president may be   engraved, lithographed or otherwise mechanically reproduced thereon and the   signature of the secretary may also be engraved, lithographed or otherwise   mechanically reproduced. Any certificates bearing the·facsimile reproduction   of the signatures of such authorized officers shall be deemed to have been   manually signed by them and shall be as valid to all intents and purposes as   if it had been so manually signed notwithstanding that the persons whose   signatures are so reproduced shall have ceased to be officers of the   Corporation 

    

 

- 16-on the   date of such certificate or at the time that it is issued. Each share certificate   shall include all restrictions pertaining to its transfer and all other   notations required by the Act. 56. Securities Register. A central securities   register shall be maintained by the Corporation or its agent at the   registered office or at any other place in Canada designated by the   directors. The directors may from time to time provide that one (1) or more   branch securities registers shall be maintained at such places within Canada   or-elsewhere as may be designated by a resolution and may appoint officers or   agents to maintain the same and to effect and record therein transfers of   shares of the share capital of the Corporation. 57. Transfer Agents and   Registrars. Agents of the Corporation charged with the maintenance of the   central and/or branch securities registers may be designated as transfer   agents and/or registrars of transfers, according to their functions. The   board of directors may at any time terminate the appointment of such transfer   agents and/or registrars. 58. Record Date and Closing of Books. Subject to   compliance with the Act pertaining to notification, the directors may fix in   advance, by resolution, a date not exceeding fifty (50) days preceding the   date for payment of a dividend or the date for the allotment of rights or the   date when any change or conversion or exchange of shares of the share capital   of the Corporation shall go into effect as the record date for the   determination of the shareholders entitled to receive payment of such   dividend, the allotment of such rights or the exercise of such rights in   respect of such change, conversion or exchange of the share capital of the   Corporation with the effect that only the shareholders of record on the date   so fixed by the directors shall be entitled to receive payment of such   dividend or allotment of rights or to exercise such rights, as the case may   be, notwithstanding a transfer of any shares on the books of the Corporation   after such record date. 59. Lost and Destroyed Certificates. The directors   may, upon such terms and conditions as to indenmity and otherwise as they may   deem advisable, direct that a new certificate or certificates of shares be   issued to replace any certificate or certificates of shares theretofore   issued by the Corporation that have been worn out, lost, stolen or destroyed.   The board of directors, when authorizing the issue of such new certificate or   certificates, may, in their discretion, and as a condition precedent thereto,   require the owner of such worn-out, lost, stolen or destroyed certificate or   his legal representatives to give to the Corporation and/or transfer agent or   transfer agents and to such registrar or registrars, as may be authorized or   required to countersign such new certificate or certificates, a bond insuch   sum as they may direct, as indemnity against any claim that may be made   against them or either of them for or in respect of the shares represented by   such certificates alleged to have been worn out, lost, stolen or destroyed.   FISCAL YEAR AND AUDIT 

    

 

- 17-60. Fiscal   Year. The period for the fiscal year of the Corporation shall be determined   from time to time by the directors. A.wlli. Except in cases otherwise   prescribed by the Act, the shareholders, at each annual 61. meeting, shall   appoint an auditor or auditors to hold office until the next annual meeting   and until the appointment of his or their successor or successors, unless he   or they resign or his or their office becomes vacant by his or their death.   At least once in every fiscal year, such auditor or auditors shall examine   the accounts of the Corporation and the financial statements to be presented   at the annual meeting and shall report thereon to the shareholders. The   auditor's remuneration shall be fixed by the audit cqmmittee or the board of   directors, if such power is not exercised by the shareholders. The auditor   shall be independent of the Corporation, its affiliates or their directors or   officers, in accordance with the Act. The auditor may be removed at any time   by the shareholders in a special meeting. A vacancy·created by the removal of   the auditor may be filled by the shareholders, at the meeting at which the   auditor was removed, or, if not so filled, by the board of directors. Any   other vacancy in the office of auditor will be filled by the board of   directors, in accordance with section 166 of the Act. REPRESENTATION OF THE   CORPORATION FOR CERTAIN PURPOSES 62. Declaration. The president, any   vice-president, the managing director, the chief executive officer, the   comptroller, the secretary and the treasurer or any one of them or any other   officer or person thereunto authorized by the directors is authorized and   empowered to make answer for the Corporation to all writs, orders and   interrogatories upon articulated facts issued out of any Court, to answer   and/or oppose for and on behalf of the Corporation all seizures and to   declare for and on behalf of the Corporation to writs of attachment by manner   of garnishment in which the Corporation is garnishee, to make all affidavits   and sworn declarations in connection therewith or in connection with any   judicial proceedings to which the Corporation is a party, to make petitions   for winding-up, sequestration or bankruptcy against any debtor of the   Corporation, to attend and vote at all meetings of creditors of the Corporation•s   debt.ors and to grant proxies in connection therewith. 63. Representation at   Meetings. The president,any vice-president, the managing director, the chief   executive officer, the secretary and the treasurer, or any one of them or any   other p rson thereWlto authorized by the chairman of the board shall   represent the Corporation, attend and vote at any meeting of shareholders or   members of any finn, company, corporation or syndicate in which the   Corporation holds shares or is otherwise interested, and any action taken   and/or vote cast by them or one of them at any such meeting shall be deemed   to be the act and/or vote of the Corporation. Any two of the president, any   vice-president, the managing director, the chief executive officer, the   secretary and the treasurer shall moreover be empowered to authorize any per   on (whether an officer of the Corporation or not) to attend, vote and   otherwise act at all meetings of 

    

 

-   18-shareholders or members of any finn, company, corporation or syndicate in   which the Corporation holds shares or is otherwise interested, and for this   purpose, such officers shall be authorized to execute and to deliver from   time to time for and on behalf and in the name of the Corporation a proxy in   such form and terms as such officers see fit, including therein, but without   in any way limiting or restricting the generality of the foregoing, provision   for the appointment of a substitute proxyholder and the revocation of all   proxies given by the Corporation prior thereto with respect to any such   meeting. 64. Signature of Documents. The contracts, documents, written acts,   including acquittances and discharges, requiring the signature of the   Corporation may be validly signed by the president alone, or by one person   designated by the president and hence be binding on the Corporation: any   vice­ president, the managing director or the chief executive officer, the   secretary and the treasurer. The board of directors may also designate any   other person to sign and deliver on behalf of the Corporation all contracts,   documents and written acts, and such authorization may be given by resolution   in general or specific terms. 65. Declarations in Register. The declarations   to filed with the Inspector General of financial Institutions in accordance   with the Act respecting the legal publicity of sole proprietorships,   partnerships and legal persons shall be signed by the president, any director   of the Corporation, or any other person authorized for such purpose by   resolution of the board of directors. Any director who has ceased to hold   such office as a result of his dismissal or removal or who is otherwise   authorized to sign on behalf of the Corporation and file an amending   declaration to the effect that he has ceased to be a director, commencing   fifteen (15) days after the date on which such cessation occurred, unless he   receives proof that the Co ation has file 1 Eric Dupont President and Chief   Executive Officer 

    

 

ATTESTATION Je,   soussigne, Luc Dupont, Vice-president, Operations et Finances et secretaire   de Les Laboratoires .IEtema Inc., certifie par la presente que le document   joint a Ia presente attestation constitue tme copie exacte et conforme du   code de reglements generaux de Les Laboratoires .IEtema Inc. MONTREAL, ce   19ejour de decembre 1995 .. Lqe{>upont

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