Document:

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                                                             EXHIBIT 10.23

                             UNITED AUTO GROUP, INC.
                                375 FIFTH AVENUE
                            NEW YORK, NEW YORK 10152

                              As of August 3, 1999

Samuel X. DiFeo
141 Lorraine Avenue
Spring Lake, N.J. 10152

Dear Sam:

        This letter sets forth our mutual agreement regarding (i) the terms and
conditions on which Samuel X. DiFeo (hereinafter sometimes the "Executive") will
continue to serve as President and Chief Operating officer of United Auto Group,
Inc. (the "Company") and (ii) the rights, entitlements and obligations of the
Executive and the Company, respectively, upon the termination of the Executive's
current employment as President and Chief Operating Officer of the Company
("President"), as set forth in Section 2 hereafter.

        1. TERM, PAYMENTS AND BENEFITS. In consideration for services to be
rendered by the Executive as President for the Term (defined below), the Company
hereby agrees to compensate the Executive, in consideration for such service and
without regard to such other compensation and benefits to which the Executive
has been entitled pursuant to the Executive's existing agreements and
understandings with the Company, and to otherwise provide benefits to the
Executive as follows:

           (a) Term. The Executive shall continue to serve as President of the
Company, through December 31, 1999, subject to the Company's right to extend the
Executive's service as President of the Company through May 31, 2000 upon
written notice of the Company's election to so extend the Executive's employment
as President hereunder, such notice to be delivered by the Company to the
Executive on or before December 1, 1999.

           (b) Compensation. As President of the Company, the Executive shall be
compensated at the rate of $360,000 per annum, together with such bonus as the
Company shall determine to be appropriate for services rendered by the Executive
as President of the Company during any applicable period in light of the
Executive's contribution to the Company during such period and additional
factors deemed relevant by the Company.

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Samuel X. DiFeo
August 3, 1999
Page 2

           (c) Stock Options. The Company shall confirm the immediate vesting
(i.e., August 3, 1999) of all options held by the Executive to purchase shares
of voting common stock, par value $0.0001 per share (the "Common Stock") of the
Company, which options shall thereafter be exercisable at any time after August
3, 1999, through and including the termination of the exercise period
attributable to each option as set forth below, notwithstanding any agreements
to the contrary. Such immediate vesting and exercise rights shall apply to all
options previously granted to the Executive, including without limitation, as
follows:

                (i)     20,000 shares at the exercise price of $10.00 per share
                        pursuant to Stock Option Agreement dated as of April 23,
                        1996, with an exercise termination date of April 23,
                        2006;

                (ii)    21,267 shares at the exercise price of $30.00 per share
                        pursuant to Option Certificate dated as of October 28,
                        1996, with an exercise termination date of October 28,
                        2061;'

                (iii)   20,000 shares at the exercise price of $17.00 per share
                        pursuant to Stock Option Agreement dated as of May 14,
                        1997, with an exercise termination date of May 14, 2007;

                (iv)    100,000 shares at the exercise price of $17.50 per share
                        pursuant to Stock Option Agreement dated as of April 13,
                        1998, with an exercise termination date of April 13,
                        2008; and

                (v)     120,000 shares at the exercise price of $7.0625 per
                        share pursuant to Stock Option Agreement dated as of
                        March 3, 1999, with an exercise termination date of
                        March 3, 2009.

        2. TERMINATION OF EMPLOYMENT.

          (a) Termination of Employment. The Executive's employment as President
of the Company shall be deemed terminated upon the occurrences of any of the
following (each a "Termination Event"):

              (i) Immediately upon the death of the Executive.

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Samuel X. DiFeo
August 3, 1999
Page 3

                (ii)   By the Company at any time after the Permanent Disability
of the Executive, subject to compliance by the Company with the Americans With
Disabilities Act, and by the Executive at any time after his Permanent
Disability.

                (iii)  By the Company at any time for Cause.

                 (iv)  By the Company at any time without Cause.

                  (v)  By the Executive's voluntary resignation.

           (b)  Cause. For purposes hereof, Cause shall mean: (i) active

participation by the Executive in fraudulent conduct, (ii) conviction of, or  a
guilty plea to, a felony (iii) a deliberate act or series of deliberate acts
which results in material injury to the business, operations or business
reputation of the Company, (iv) an act or series of acts of  dishonesty,
recklessness or gross-negligence which results in  material injury to the
business operations or business reputation of the Company or (v) the Executive's
willful and continued failure to perform any of his material duties as President
which results in material injury to the business operations or business
reputation of the Company; provided, however there shall not be Cause in the
case of (x) clause (iii) or (iv) if the Executive promptly and diligently, after
receipt of written notice form the Company, takes such action which causes the
Company, in its reasonable judgment, to believe that such act or series of acts
would not likely result in  material injury to the business, operations  or
business reputation of the Company, or that any such injury, if already
incurred, has been rectified, or (y) clause (v), if the Executive promptly and
diligently, after receipt of written notice form the Company, discontinues his
failure to perform and rectifies any injury which resulted form his failure to
perform.  Any repetition of any such deliberate, or substantially similar, act,
or such willful, or substantially similar, failure to perform, shall be Cause
without any further opportunity to cure.

           (c)  Permanent Disability. For the purposes hereof, Permanent
Disability shall be determined as follows:

               (i) Determination. The Executive's "Permanent Disability" shall
be deemed to have occurred one (1) day after (x) one hundred fifty (150) days in
the aggregate during any consecutive twelve (12) month period, or (y) one
hundred fifty (150) consecutive days that, in either case, the Executive, by
reason of his physical or mental disability or illness, shall have been unable
to discharge fully his duties as President.

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Samuel X. DiFeo
August 3, 1999
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               (ii) Resolution of Disagreement. If either the Company or the
Executive, after receipt of notice of the executive's Permanent Disability from
the other, disagrees that the Executive's Permanent Disability shall have
occurred, the Executive shall promptly submit to a physical examination by, or
at the direction of, the chief of medicine of any major accredited hospital in
the New York, New York metropolitan area and, unless such physician shall issue
a written statement to the effect that, in such physician's opinion, based on
such physician's diagnosis, the Executive is capable of resuming his employment
and devoting his full time and energy to discharging fully his duties hereunder
within thirty (30) days after the date of such statement, such Permanent
Disability shall be deemed to have occurred on a date determined in accordance
with Section 2(c)(i) above.

      3.   SEVERANCE COMPENSATION.

           (a) Termination By Death. If the Executive's employment is terminated
by death, the Executive's estate shall be entitled to receive (v) any unpaid
salary and other compensation and benefits accrued and earned by the Executive
through the date of the Executive's death, including a pro rata share of any
bonus applicable to the calendar year in which death occurs, (w) severance
compensation, within ninety (90) days after the date of death, in a lump sum
payment equal to Eight Hundred Thousand ($800,000) Dollars, (x) any amounts
owing in accordance with the terms of any profit sharing, retirement and other
benefit plans in which the Executive is a participant, (y) any other benefits
to which the Executive is then entitled, payable within ninety (90) days after
the date of death, accrued up to and including the date of the Executive's death
and (z) benefits, if any, provided by any insurance policies to Executive or
Executive's estate in accordance with their terms.

           (b) Termination for Cause. If the Executive's employment is
terminated by the Company for Cause, the Company shall not have any other or
further obligations to the Executive under this Agreement, except (w) as may be
provided in accordance with the terms of any profit sharing, retirement and
other benefit plans to which the Executive is a participant (x) as to that
portion of any unpaid salary and other compensation and benefits accrued and
earned by the Executive through the date of such termination, (y) any other
benefits to which the Executive is then entitled, payable within ninety (90)
days after the date of such termination, accrued up to and including the date of
such termination and (z) as to the benefits, if any, provided by any insurance
policies in accordance with their terms.

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Samuel X. DiFeo
August 3, 1999
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     (c).  Termination without Cause or For Permanent Disability.

           (i) If the Executive's employment is terminated by the Company
without Cause, the Executive shall be entitled to receive (v) salary and other
compensation and benefits payable to the Executive hereunder through December
31, 1999 or such later date to which the term of employment hereunder shall have
been extended (the "Contract Term Expiration Date"), together with any bonus
applicable to the calendar year in which such termination occurs that would have
been payable to the Executive had such termination not occurred (w) the benefit
of the Consulting Agreement (the "Consulting Agreement") a copy of which is
attached hereto as Exhibit A (x) any amounts owing in accordance with the terms
of any profit sharing, retirement and other benefit plans in which the Executive
is a participant (y) any other benefits to which the Executive is entitled,
payable within ninety (90) days after the Contract Term Expiration Date, accrued
up to and including the Contract Term Expiration Date and (z) benefits, if any,
provided by any insurance policies in accordance with their terms.

     (ii) If the Executive's employment is terminated because of his Permanent
Disability, the Executive shall be entitled to receive (v) salary and other
compensation and benefits payable to the Executive hereunder through December
31, 1999 or such later date to which the term of employment hereunder shall have
been extended (the "Contract Term Expiration Date"), together with any bonus
applicable to the calendar year in which such termination occurs that would have
been payable to the Executive had such termination not occurred, (w) the benefit
of the Consulting Agreement, (x) any amounts owing in accordance with the terms
of any profit sharing, retirement and other benefit plans in which the Executive
is a participant, (y) any other benefits to which the Executive is entitled,
payable within ninety (90) days after the Contract Term Expiration Date, accrued
up to and including the Contract Term Expiration Date and (z) benefits, if any,
provided by any insurance policies to Executive or Executive's estate in
accordance with their terms.

     (d)   Involuntary Resignation. If the Executive resigns from all offices
and directorships of the Company and all entity affiliates of the Company for
any of the reasons set forth in clauses (i) through (viii) of this  Section
3(d), such resignation shall be deemed to be an "Involuntary Resignation," and
the Executive shall be entitled to receive the same severance compensation and
other benefits as are provided for in Section 3(c) above.

           (i) The Company materially changes the Executive's duties and
responsibilities as President without his prior written consent, which consent
may be granted or withheld by the Executive in his absolute and sole discretion.
The Executive

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Samuel X. DiFeo
August 3, 1999
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shall be deemed to have consented to any proposal of the Board of Directors of
the Company calling for a material change in his duties and responsibilities
only if he shall give written notice of his consent thereto to the Board of
Directors of the Company within thirty (30) days after receipt of such written
proposal. If the Executive shall have failed to give such consent, the Company
shall have the opportunity to withdraw such proposed material change by written
notice to the Executive given within ten (10) days after the end of such thirty
(30) day period.

                  (ii) The Executive's place of employment is located or
relocated more than fifty (50) road miles from either 375 Park Avenue, New York,
New York or Jersey City, New Jersey

                  (iii) The Company, without the Executive's prior written
consent, reduces the Executive's current base salary of $360,000.

                  (iv) The Company imposes requirements on the Executive, or
gives instructions or directions to the Executive, which are: (x) contrary to or
in violation of (a) rules, principles, or codes of professional responsibility
or (b) law (as set forth in written statutes or regulations thereunder), which
the Executive is obligated to follow; (y) such that compliance by the Executive
with such requirements, instructions or directions would likely (a) have a
material adverse effect on the Executive or (b) cause the Executive to suffer
substantial liability, and (z) not withdrawn by the Company after written
request by the Executive, which written request sets forth the Executive's
complete explanation as to why he believes the requirements, instructions or
directions should be withdrawn.

                  (v) There occurs a material breach by the Company of any of
its obligations under this Agreement or any other agreement between the
Executive and the Company regarding the Executive's compensation, benefits or
otherwise, which breach has not been cured in all material respects within
thirty (30) days after the Executive gives written notice thereof to the
Company, which notice sets forth in reasonable detail the nature and
circumstances of such breach.

                  (vi) The Company or any majority owned subsidiary of the
Company violates a federal for state criminal law involving moral turpitude
which would likely (a) have a material adverse effect on the Executive or (b)
cause the Executive to suffer substantial liability, and the Executive was
unaware of such unlawful activity at the time of its occurrence.

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Samuel X. DiFeo
August 3, 1999
Page 7

                  (vii) The Executive resigns upon the occurrence of a "change
in control," such change occurring after August 3, 1999.

                  (viii) In the event of termination of the Executive by the
Company within six (6) months following a "change in control," other than a
termination by the Company for Cause.

         The term "change in control" means the first to occur of the following
events:

              A. The acquisition by any person, entity or "group" within the
meaning of ss.13(d) or 14(d) of the Securities Exchange Act of 1934 (the
"Exchange Act") of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Exchange Act) of twenty-five (25%) percent or more of
either the then outstanding equity interests in the Company or the combined
voting power of the then outstanding voting securities entitled to vote
generally in the election of the Board of Directors; or

              B. The Company's stockholders approve an agreement to merge or
consolidate with another corporation or other entity resulting (whether
separately or in connection with a series of related transactions) in a change
in ownership of twenty percent (20%) or more of the voting control of, or
beneficial rights to, the voting capital stock of the Company, or an agreement
to sell or otherwise dispose of all or substantially all of the Company's assets
(including, without limitation a plan of liquidation or dissolution), or
otherwise approve of a fundamental alteration in the nature of the Company's
business;

provided, however, that the term "change of control" shall specifically not
include the announced transaction whereby Penske Capital Partners and its
affiliates are acquiring interests in the Company.

              (e) Voluntary Resignation. If the Executive voluntarily resigns,
the Executive's employment shall be terminated. In the event of such voluntary
resignation, the Executive shall be entitled to (w) any unpaid salary and other
compensation and benefits accrued and earned by the Executive through the date
of such termination, including a pro rata portion of any bonus applicable to the
calendar year in which such termination occurs, (x) any amounts owing in
accordance with the terms of any profit sharing, retirement and other benefit
plans in which the Executive is a participant, (y) other benefits to which the
Executive is entitled, payable within ninety (90) days after the date of such
termination, accrued to and including the date of such termination, and (z)
benefits, if any, provided by any insurance policies in accordance with their
terms.

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Samuel X. DiFeo
August 3, 1999
Page 8

         4. SEVERANCE AGREEMENTS.

              (a) Resignation from Office. Upon the occurrence of any
Termination Event, the Executive shall be deemed to have thereupon resigned
immediately from all offices and directorships held by the Executive in the
Company and all affiliates of the Company, and the Executive shall sign and
deliver to the Company and all entity affiliates of the Company, as the case may
be, written resignations from all such offices and directorships.

              (b) Consulting Agreement. Upon the occurrence of a Termination
Event as set forth in Sections 3(c)(i) or (ii) or 3(d), or if a Termination
Event as set forth in Sections 3(c)(i) or (ii) or 3(d) has not occurred prior to
the Contract Term Expiration Date, upon the Contract Term Expiration Date
(unless the Executive's employment has been terminated by the Company for Cause
or the Executive has voluntarily resigned from the Company prior to the Contract
Term Expiration Date), the Executive shall continue to be employed as a
consultant by the Company in accordance with the terms and conditions of that
certain Consulting Agreement.

              (c) Press Release. Upon the occurrence of a Termination Event, the
form of press release confirming the termination of the Executive as President
shall be subject to the mutual agreement of the Executive and the Company. Any
statements by the Company or the Executive to third parties or to employees of
the Company regarding the termination of the Executive's employment as President
shall be consistent with such press release or subject to the mutual agreement
of the Executive and the Company.

              (d) Non-Compete. Upon the termination of the Executive as
contemplated hereunder, the Executive shall be under no obligation to seek other
employment and there shall be no offset against amounts due the Executive
hereunder, under the Consulting Agreement or under any other agreement between
the Executive and the Company, on account of any remuneration attributable to
any subsequent or additional employment the Executive may obtain; provided,
however, the Executive shall not seek or accept employment in the automotive
industry for so long as the Consulting Agreement is in effect without the prior
written consent of the Company, which consent shall not be unreasonably withheld
or delayed, and, provided further, that any such permitted subsequent employment
shall have no effect on the Executive's rights and entitlements under this
Agreement, the Consulting Agreement or any other agreement between the Executive
and the Company or the Company's rights with respect to the Executive's
responsibility to maintain the confidentiality of this letter agreement and
confidential data of the Company, its affiliates, and its suppliers and
manufacturers.

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Samuel X. DiFeo
August 3, 1999
Page 9

              (e) Confidentiality. The Executive and the Company hereby agree
that for so long as this letter agreement is otherwise confidential, neither the
Executive nor the Company will disclose the fact of this letter or any of its
terms or provisions to any person without the prior written consent of the other
party hereto; provided, however, that nothing herein shall prohibit disclosure
of such information to the extent required by law, nor prohibit disclosure by
the Executive to any legal or financial consultant, member of the Executive's
immediate family or prospective employer, if such person first agrees to be
bound by the confidentiality provisions of this Section 4(e). Notwithstanding
the foregoing, it is acknowledged by the parties hereto that this letter may be
filed by the Company with the Securities and Exchange Commission pursuant to
applicable law.

         5. GENERAL PROVISIONS.

              (a) This letter may be executed in any number of counterparts,
each of which when so executed and delivered shall constitute an original and
which all together shall constitute one agreement, with such counterparts being
deliverable by facsimile with the original being transmitted by overnight
courier.

              (b) This letter shall bind and inure to the benefit of the
Executive's and the Company's respective successors and permitted assigns.

              (c) This letter may not be amended, waived or modified, in whole
or in part, except by a writing signed by each of the Executive and the Company.

              (d) This letter shall be construed and enforced in accordance
with, and shall be governed by, the laws of the State of New York without giving
effect to that State's choice of law principles.

              (e) Any disputes arising under or in connection with this letter
shall, at the election of either the Executive or the Company, be resolved by
binding arbitration, to be held in New York City in accordance with the rules
and procedures of the American Arbitration Association. Judgment upon the award
rendered by the arbitrator(s) may be entered in any court having jurisdiction
thereof. The Company shall pay all costs and expenses (including reasonable
attorneys fees) as incurred by the Executive with any such arbitration or
litigation, unless the Executive is the unsuccessful party. Pending the
resolution of any arbitration or court proceeding, the Company shall continue
payment of all amounts due the Executive under this letter and all benefits to
which the Executive is entitled at the time the dispute arises.

              (f) This Agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and shall supercede all prior
agreements

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Samuel X. DiFeo
August 3, 1999
Page 10

entered into between the parties with respect to the subject matter hereof,
including, without limitation, any terms or conditions of the Option Agreements
that conflict with any of the terms and conditions set forth in this Agreement.

         If the forgoing is acceptable to you, please sign, date and return the
attached copy of this letter to the undersigned by hand or by express mail.

                                                  Sincerely,

                                                  UNITED AUTO GROUP, INC.

                                                  By:    [SIG]
                                                     ------------------------

AGREED:

/s/ Samuel X. DiFeo
-----------------------
Samuel X. DiFeo
Date: 8-6-99
     ------------------<PAGE>   1

                                                                     EXHIBIT 4.2
                                                                      (Form S-8)

                                     BYLAWS

                                       of

                      ELECTRONIC TELE-COMMUNICATIONS, INC.

                                   AS AMENDED

                                   MAY 3, 1991

                                       2

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                               ARTICLE I. OFFICES

     1.01. Principal and Business Offices. The corporation may have such
principal and other business offices, either within or without the State of
Wisconsin, as the Board of Directors may designate or as the business of the
corporation may require from time to time.

     1.02. Registered Office. The registered office of the corporation required
by the Wisconsin Business Corporation Law to be maintained in the State of
Wisconsin may be, but need not be, identical with the principal office in the
State of Wisconsin, and the address of the registered office may be changed from
time to time by the Board of Directors, or if within the county, by the
registered agent. The business office of the registered agent of the corporation
shall be identical to such registered office.

                            ARTICLE II. SHAREHOLDERS

     2.01. Annual Meeting. The annual meeting of the shareholders shall be held
on the first Friday of May in each year at 2:00 o'clock, P.M., or at such other
time and date within thirty days before or after said date as may be fixed by or
under the authority of the Board of Directors, for the purpose of electing
directors and for the transaction of such other business as may come before the
meeting. If the day fixed for the annual meeting shall be a legal holiday in the
State of Wisconsin, such meeting shall be held on the next succeeding business
day. If the election of directors shall not be held on the day designated
herein, or fixed as herein provided, for any annual meeting of the shareholders,
or at any adjournment there of, the Board of Directors shall cause the election
to be held at a special meeting of the shareholders as soon thereafter as
conveniently may be.

     2.02. Special Meeting. Special meetings of the shareholders, for any
purpose or purposes, unless otherwise prescribed by statute, may be called by
the Chairman of the Board or the President or the Board of Directors or by the
person designated in the written request of the holders of not less than
one-tenth of all shares of the corporation entitled to vote at the meeting.

     2.03. Place of Meeting. The Board of Directors may designate any place,
either within or without the State of Wisconsin as the place of meeting for any
annual meeting or for any special meeting called by the Board of Directors. A
waiver of notice signed by all shareholders entitled to vote at a meeting may
designate any place, whether within or without the State of Wisconsin, as the
place for the holding of such meeting. If no designation is made, or if a
special meeting be otherwise called, the place of meeting shall be the principal
business office of the corporation in the State of Wisconsin or such other
suitable place in the county of such principal office as may be designated by
the person calling such meeting, but any meeting may be adjourned to reconvene
at any place designated by vote of a majority of the shares represented thereat.

     2.04. Notice of Meeting. Written notice stating the place, day and hour of
the meeting and, in case of a special meeting, the purpose or purposes for which
the meeting is called, shall be delivered not less than ten (10) days (unless a
longer period is required by law or the articles of incorporation) nor more than
fifty days before the date of the meeting, either personally or by mail, by or
at the direction of the Chairman of the Board or the President, or the
Secretary, or persons calling the meeting, to each shareholder of record
entitled to vote at such meeting. If mailed, such notice shall be deemed to be
delivered when deposited in the United States mail, addressed to the shareholder
at his address as it appears on the stock record books of the corporation, with
postage thereon prepaid.

     2.05. Closing of Transfer Books or Fixing of Record Date. For the purpose
of determining shareholders entitled to notice of or to vote at any meeting of
shareholders or any adjournment thereof, or shareholders entitled to receive
payment of any dividend, or in order to make a determination of shareholders for
any other proper purpose, the Board of Directors may provide that the stock
transfer books shall be closed for a stated period but not to exceed, in any
case, fifty days. If the stock transfer books shall be closed for the purpose of
determining shareholders entitled to notice of or to vote at a meeting of
shareholders, such books shall be closed for at least ten days immediately
preceding such meeting. In lieu of closing the stock transfer books, the Board
of Directors may fix in advance a date as the record date for any such
determination of shareholders, such date in any case to be not more than fifty
days and, in case of a meeting of shareholders, not less than ten days prior to
the date on which the particular action, requiring such determination of
shareholders, is to be taken. If the stock transfer books are not closed and no
record date is fixed for the determination of shareholders entitled to notice of
or to vote at a meeting of shareholders, or shareholders entitled to receive
payment of a dividend, the close of business on the date on which notice of the
meeting is mailed or on the date on which the resolution of the Board of
Directors declaring such dividend is adopted, as the case may be, shall be the
record date for such determination of shareholders. When a determination of
shareholders entitled to vote at any meeting of shareholders has been made as
provided in this section, such determination shall be applied to any adjournment
thereof except where the determination has been made through the closing of the
stock transfer books and the stated period of closing has expired.

<PAGE>   3

         2.06. Voting Records. The officer or agent having charge of the stock
transfer books for shares of the corporation shall, before each meeting of
shareholders, make a complete record of the shareholders entitled to vote at
such meeting, or any adjournment thereof, with the address of and the number of
shares held by each. Such record shall be produced and kept open at the time and
place of the meeting and shall be subject to the inspection of any shareholder
during the whole time of the meeting for the purposes of the meeting. The
original stock transfer books shall be prima facie evidence as to who are the
shareholders entitled to examine such record or transfer books or to vote at any
meeting of shareholders. Failure to comply with the requirements of this section
shall not affect the validity of any action taken at such meeting.

         2.07. Quorum. Except as otherwise provided in the articles of
incorporation, a majority of the shares entitled to vote, represented in person
or by proxy, shall constitute a quorum at a meeting of shareholders. If a quorum
is present, the affirmative vote of the majority of the shares represented at
the meeting and entitled to vote on the subject matter shall be the act of the
shareholders unless the vote of a greater number or voting by classes is
required by the Wisconsin Business Corporation Law or the articles of
incorporation. If less than a quorum is represented at a meeting, a majority of
the shares so represented may adjourn the meeting from time to time without
further notice. At such adjourned meeting at which a quorum shall be present or
represented, any business may be transacted which might have been transacted at
the meeting as originally noticed. The shareholders present at a duly organized
meeting may continue to transact business until adjournment, notwithstanding the
withdrawal of enough shareholders to leave less than a quorum.

         2.08. Conduct of Meetings. The Chairman of the Board, or if none, or in
his absence, the President, and in his absence, a Vice President in the order
provided under Section 4.08, and in their absence, any person chosen by the
shareholders present shall call the meeting of the shareholders to order and
shall act as chairman of the meeting, and the Secretary shall act as secretary
of all meetings of the shareholders, but, in the absence of the Secretary, the
presiding officer may appoint any other person to act as secretary of the
meeting.

         2.09. Proxies. At all meetings of shareholders, a shareholder entitled
to vote may vote in person or by proxy appointed in writing by the shareholder
or by his duly authorized attorney-in-fact. Such proxy shall be filed with the
Secretary before or at the time of the meeting. Unless otherwise provided in the
proxy, a proxy may be revoked at any time before it is voted, either by written
notice filed with the Secretary or the acting secretary of the meeting or by
oral notice given by the shareholder to the presiding officer during the
meeting. The presence of a shareholder who has filed his proxy shall not of
itself constitute a revocation. No proxy shall be valid after eleven months from
the date of its execution, unless otherwise provided in the proxy. The Board of
Directors shall have the power and authority to make rules as to the validity
and sufficiency of proxies.

         2.10. Voting of Shares. Each outstanding share shall be entitled to one
vote upon each matter submitted to a vote at a meeting of shareholders, except
to the extent that the voting rights of the shares of any class or classes are
enlarged, limited or denied by the articles of incorporation.

         2.11.  Voting of Shares by Certain Holders.

         (a) Other Corporations. Shares standing in the name of another
    corporation may be voted either in person or by proxy, by the president of
    such corporation or any other officer appointed by such president. A proxy
    executed by any principal officer of such other corporation or assistant
    thereto shall be conclusive evidence of the signer's authority to act, in
    the absence of express notice to this corporation, given in writing to the
    Secretary of this corporation, of the designation of some other person by
    the board of directors or the bylaws of such other corporation.

         (b) Legal Representatives and Fiduciaries. Shares held by a personal
    representative, an administrator, executor, guardian, conservator, trustee
    in bankruptcy, receiver, or assignee for creditors may be voted by him,
    either in person or by proxy, without a transfer of such shares into his
    name, provided that there is filed with the Secretary before or at the time
    of meeting proper evidence of his incumbency and the number of shares held.
    Shares standing in the name of a fiduciary may be voted by him, either in
    person or by proxy. A proxy executed by a fiduciary, shall be conclusive
    evidence of the signer's authority to act, in the absence of express notice,
    given in writing to the Secretary, that such manner of voting is prohibited
    or otherwise directed by the document creating the fiduciary relationship.
         (c) Pledgees. A shareholder whose shares are pledged shall be entitled
    to vote such shares in person or by proxy until the shares have been
    transferred into the name of the pledgee, and thereafter the pledgee shall
    be entitled to vote the shares so transferred.

         (d) Treasury Stock and Subsidiaries. Neither treasury shares, nor
    shares held by another corporation if a majority of the shares entitled to
    vote for the election of directors of such other corporation is held by this
    corporation, shall be voted at any meeting or counted in determining the
    total number of outstanding shares entitled to vote, but shares of its own
    issue held by this corporation in a fiduciary capacity, or held by such
    other corporation in a fiduciary capacity, may be voted and shall be counted
    in determining the total number of outstanding shares entitled to vote.

<PAGE>   4

         (e) Minors. Shares held by a minor may be voted by such minor in person
    or by proxy and no such vote shall be subject to disaffirmance or avoidance,
    unless prior to such vote the Secretary of the corporation has received
    written notice or has actual knowledge that such shareholder is a minor.

         (f) Incompetents and Spendthrifts. Shares held by an incompetent or
    spendthrift may be voted by such incompetent or spendthrift in person or by
    proxy and no such vote shall be subject to disaffirmance or avoidance,
    unless prior to such vote the Secretary of the corporation has actual
    knowledge that such shareholder has been adjudicated an incompetent or
    spendthrift or actual knowledge of filing of judicial proceedings for
    appointment of a guardian.

         (g) Joint Tenants. Shares registered in the names of two or more
    individuals who are named in the registration as joint tenants may be voted
    in person or by proxy signed by any one or more of such individuals if
    either (i) no other such individual or his legal representative is present
    and claims the right to participate in the voting of such shares or prior to
    the vote files with the Secretary of the corporation a contrary written
    voting authorization or direction or written denial of authority of the
    individual present or signing the proxy proposed to be voted or (ii) all
    such other individuals are deceased and the Secretary of the corporation has
    no actual knowledge that the survivor has been adjudicated not to be the
    successor to the interests of those deceased.

                         ARTICLE III. BOARD OF DIRECTORS

         3.01. General Powers and Number. The business and affairs of the
corporation shall be managed by its Board of Directors. The number of directors
of the corporation shall be nine. The number of directors may be increased or
decreased (but not to less than three) from time to time by amendment to this
Section adopted by the shareholders or the Board of Directors but no decrease
shall have the effect of shortening the term of an incumbent director.

         3.02. Tenure and Qualifications. Each director shall hold office until
the next annual meeting of shareholders and until his successor shall have been
elected, or until his prior death, resignation or removal. Any director or the
entire Board of Directors may be removed from office, with or without cause, by
affirmative vote of a majority of the outstanding shares entitled to vote for
the election of such director, taken at a meeting of shareholders called for
that purpose. A director may resign at any time by filing his written
resignation with the Secretary of the corporation. Directors need not be
residents of the State of Wisconsin or shareholders of the corporation.

         3.03. Regular Meetings. A regular meeting of the Board of Directors
shall be held without other notice than this bylaw immediately after the annual
meeting of shareholders, and each adjourned session thereof. The place of such
regular meeting shall be the same as the place of the meeting of shareholders
which precedes it, or such other suitable place as may be announced at such
meeting of shareholders. The Board of Directors may provide, by resolution, the
time and place, either within or without the State of Wisconsin, for the holding
of additional regular meetings without other notice than such resolution.

         3.04. Special Meetings. Special meetings of the Board of Directors may
be called by or at the request of the Chairman of the Board (if one is elected)
the President, or any two directors. The persons calling any special meeting of
the Board of Directors may fix any place, either within or without the State of
Wisconsin, as the place for holding any special meeting of the Board of
Directors called by them, and if no other place is fixed the place of meeting
shall be the principal business office of the corporation in the State of
Wisconsin.

         3.05. Notice of Meetings. Notice of each meeting of the Board of
Directors (unless otherwise provided in or pursuant to Section 3.03) shall be
given by written notice delivered personally or mailed or given by telephone or
telegram to each director at his business or home address or at such other
address as such director shall have designated in writing filed with the
Secretary, in each case not less than 48 hours prior thereto. If mailed, such
notice shall be deemed to be delivered when deposited in the United States mail
so addressed, with postage thereon prepaid. If notice be given by telegram, such
notice shall be deemed to be delivered when the telegram is delivered to the
telegraph company; if by telephone, at the time the call is completed. The
attendance of a director at a meeting shall constitute a waiver of notice of
such meeting, except where a director attends a meeting and objects thereat to
the transaction of any business because the meeting is not lawfully called or
convened. Neither the business to be transacted at, nor the purpose of, any
regular or special meeting of the Board of Directors need be specified in the
notice or waiver of notice of such meeting.

         3.06. Quorum. Except as otherwise provided by the Wisconsin Business
Corporation Law or by the articles of incorporation or these bylaws, a majority
of the number of directors as provided in Section 3.01 shall constitute a quorum
for the transaction of business at any meeting of the Board of Directors, but a
majority of the directors present (though less than such quorum) may adjourn the
meeting from time to time without further notice.

<PAGE>   5

         3.07. Manner of Acting. The act of the majority of the directors
present at a meeting at which a quorum is present shall be the act of the Board
of Directors, unless the act of a greater number is required by the Wisconsin
Business Corporation Law or by the Articles of Incorporation or these Bylaws.

         3.08. Conduct of Meetings. The Chairman of the Board, or if there is
none or in his absence, the President, and in his absence, a Vice President in
the order provided under Section 4.08, and in their absence, any director chosen
by the directors present, shall call meetings of the Board of Directors to order
and shall act as chairman of the meeting. The Secretary of the corporation shall
act as secretary of all meetings of the Board of Directors, but in the absence
of the Secretary, the presiding officer may appoint any Assistant Secretary or
any director or other person present to act as secretary of the meeting.

         3.09. Vacancies. Any vacancy occurring in the Board of Directors,
including a vacancy created by an increase in the number of directors, may be
filled until the next succeeding annual election by the affirmative vote of a
majority of the directors then in office, though less than a quorum of the Board
of Directors; provided, that in case of a vacancy created by the removal of a
director(s) by vote of the shareholders, the shareholders shall have the right
to fill such vacancy at the same meeting or any adjournment thereof.

         3.10. Compensation. The Board of Directors, by affirmative vote of a
majority of the directors then in office, and irrespective of any personal
interest of any of its members, may establish reasonable compensation of all
directors for services to the corporation as directors, officers or otherwise,
and the manner and time of payment thereof, or may delegate such authority to an
appropriate committee. The Board of Directors also shall have authority to
provide for or to delegate authority to an appropriate committee to provide for
reasonable pensions, disability or death benefits, and other benefits or
payments, to directors, officers and employees and to their estates, families,
dependents or beneficiaries on account of prior services rendered by such
directors, officers and employees to the corporation.

         3.11. Presumption of Assent. A director who is present at a meeting of
the Board of Directors or a committee thereof of which he is a member at which
action on any corporate matter is taken shall be presumed to have assented to
the action taken unless his dissent shall be entered in the minutes of the
meeting or unless he shall file his written dissent to such action with the
person acting as the secretary of the meeting before the adjournment thereof or
shall forward such dissent by registered mail to the Secretary of the
corporation immediately after the adjournment of the meeting. Such right to
dissent shall not apply to a director who voted in favor of such action.

         3.12. Committees. The Board of Directors by resolution adopted by the
affirmative vote of a majority of the number of directors as provided in Section
3.01 may designate one or more committees, each committee to consist of three or
more directors elected by the Board of Directors, which to the extent provided
in said resolution as initially adopted, and as thereafter supplemented or
amended by further resolution adopted by a like vote, shall have and may
exercise, when the Board of Directors is not in session, the powers of the Board
of Directors in the management of the business and affairs of the corporation,
except action in respect to dividends to shareholders, election of the principal
officers or the filling of vacancies in the Board of Directors or committees
created pursuant to this section. The Board of Directors may elect one or more
of its members as alternate members of any such committee who may take the place
of any absent member or members at any meeting of such committee, upon request
by the President or upon request by the chairman of such meeting. Each such
committee shall fix its own rules governing the conduct of its activities and
shall make such reports to the Board of Directors of its activities as the Board
of Directors may request.

         3.13.  Meetings By Telephone or Other Communication Technology.

         (a) Any or all directors may participate in a regular or special
    meeting or in a committee meeting of the Board of Directors by, or conduct
    the meeting through the use of, telephone or any other means of
    communication by which either: (i) all participating directors may
    simultaneously hear each other during the meeting or (ii) all communication
    during the meeting is immediately transmitted to each participating
    director, and each participating director is able to immediately send
    messages to all other participating directors.

         (b) If a meeting will be conducted through the use of any means
    described in paragraph (a), all participating directors shall be informed
    that a meeting is taking place at which official business may be transacted.
    A director participating in a meeting by any means described in paragraph
    (a) is deemed to be present in person at the meeting.

         (c) If required by the Wisconsin Business Corporation Law, the identity
    of each director participating in a meeting of the Board of Directors or a
    committee thereof by any means described in paragraph (a) must be verified
    before the directors vote at the meeting on (i) a plan of merger or
    consolidation; (ii) to sell, lease, exchange or otherwise dispose of
    substantial property or assets of the corporation; (iii) to voluntarily
    dissolve the corporation or to revoke voluntary dissolution proceedings; or
    (iv) to file for bankruptcy. The procedure for verifying a director's
    identity shall be by disclosure by the director of a confidential Director
    Identification Number assigned to such director in advance of the meeting by
    the Secretary which is

<PAGE>   6

    provided confidentially to the director with the notice of the meeting or
    otherwise. A transaction within the meaning of subpart (ii) of this
    paragraph (c) shall be one which involves the sale, lease, exchange or other
    disposition of more than fifty percent (50%) in value of the corporation's
    assets to a person other than a subsidiary of the corporation.

                              ARTICLE IV. OFFICERS

         4.01. Number. The principal officers shall be a President, one or more
Vice Presidents (the number and designations to be determined by the Board of
Directors), a Secretary, and a Treasurer, each of whom shall be elected by the
Board of Directors. The Board of Directors may designate one of the Vice
Presidents as the Executive Vice President. Such other officers and assistant
officers as may be deemed necessary may be elected or appointed by the Board of
Directors or the President. Any two or more offices may be held by the same
person, except the offices of President and Secretary and the offices of
President and Vice President.

         4.02. Election and Term of Office. The officers to be elected by the
Board of Directors shall be elected annually by the Board of Directors at the
first meeting of the Board of Directors held after each annual meeting of the
shareholders. If the election of officers shall not be held at such meeting,
such election shall be held as soon thereafter as conveniently may be. Each
officer shall hold office until his successor shall have been duly elected or
until his prior death, resignation or removal.

         4.03. Removal. Any officer or agent may be removed by the Board of
Directors whenever in its judgment the best interests of the corporation will be
served thereby, but such removal shall be without prejudice to the contract
rights, if any, of the person so removed. Election or appointment shall not of
itself create contract rights.

         4.04. Vacancies. A vacancy in any principal office because of death,
resignation, removal, disqualification or otherwise, shall be filled by the
Board of Directors for the unexpired portion of the term.

         4.05. Chairman of the Board. The Board of Directors may elect one of
its members the Chairman of the Board. The Chairman of the Board shall preside
at all meetings of the shareholders and directors at which he is present. He
shall be ex officio a member of all standing committees and shall be Chairman of
such committees as is determined by the Board of Directors. He shall have such
other powers and duties as may from time to time be prescribed by the bylaws or
by resolution of the Board of Directors.

         4.06. President. The President shall be the principal executive officer
and, subject to the control of the Board of Directors, shall in general
supervise and control all of the business and affairs of the corporation. He
shall, in the absence of the Chairman, preside at all meetings of the
shareholders and of the Board of Directors. He shall have authority, subject to
such rules as may be prescribed by the Board of Directors, to appoint such
agents and employees of the corporation as he shall deem necessary, to prescribe
their powers, duties and compensation, and to delegate authority to them. Such
agents and employees shall hold office at the discretion of the President. He
shall have authority to sign, execute and acknowledge, on behalf of the
corporation, all deeds, mortgages, bonds, stock certificates, contracts, leases,
reports and all other documents or instruments necessary or proper to be
executed in the course of the corporation's regular business, or which shall be
authorized by resolution of the Board of Directors; and, except as otherwise
provided by law or the Board of Directors, he may authorize any Vice President
or other officer or agent of the corporation to sign, execute and acknowledge
such documents or instruments in his place and stead. In general he shall
perform all duties incident to the office of President and such other duties as
may be prescribed by the Board of Directors from time to time.

         4.07. The Executive Vice President. The Executive Vice President, if
one be designated, shall assist the President in the discharge of supervisory,
managerial and executive duties and functions. In the absence of the President
or in the event of his death, inability or refusal to act, the Executive Vice
President shall perform the duties of the President and when so acting shall
have all the powers and duties of the President. He shall perform such other
duties as from time to time may be assigned to him by the Board of Directors or
the President.

         4.08. The Vice Presidents. In absence of the President and the
Executive Vice President, or in the event of their death, inability or refusal
to act, or in the event for any reason it shall be impracticable for them to act
personally, the Vice President (or in the event there be more than one Vice
President, the Vice Presidents in the order designated by the Board of
Directors, or in the absence of any designation, then in the order of their
election) shall perform the duties of the President, and when so acting, shall
have all the powers of and be subject to all the restrictions upon the
President. Any Vice President may sign, with the Secretary or Assistant
Secretary, certificates for shares of the corporation; and shall perform such
other duties and have such authority as from time to time may be delegated or
assigned to him by the President or by the Board of Directors. The execution of
any instrument of the corporation by any Vice President shall be conclusive
evidence, as to third parties, of his authority to act instead of the President.

         4.09. The Secretary. The Secretary shall:(a) keep the minutes of the
meetings of the shareholders and of the Board

<PAGE>   7

of Directors in one or more books provided for that purpose; (b) see that all
notices are duly given in accordance with the provisions of these bylaws or as
required by law; (c) be custodian of the corporate records and of the seal of
the corporation and see that the seal of the corporation is affixed to all
documents the execution of which on behalf of the corporation under its seal is
duly authorized; (d) keep or arrange for the keeping of a register of the post
office address of each shareholder which shall be furnished to the Secretary by
such shareholder; (e) sign with the President, or a Vice President, certificates
for shares of the corporation, the issuance of which shall have been authorized
by resolution of the Board of Directors; (f) have general charge of the stock
transfer books of the corporation; and (g) in general perform all duties
incident to the office of Secretary and have such other duties and exercise such
authority as from time to time may be delegated or assigned to him by the
President or by the Board of Directors.

         4.10. The Treasurer. The Treasurer shall: (a) have charge and custody
of and be responsible for all funds and securities of the corporation; (b)
receive and give receipts for moneys due and payable to the corporation from any
source whatsoever, and deposit all such moneys in the name of the corporation in
such banks, trust companies or other depositaries as shall be selected in
accordance with the provisions of Section 5.04; and (c) in general perform all
of the duties incident to the office of Treasurer and have such other duties and
exercise such other authority as from time to time may be delegated or assigned
to him by the President or by the Board of Directors.

         4.11. Assistant Secretaries and Assistant Treasurers. There shall be
such number of Assistant Secretaries and Assistant Treasurers as the Board of
Directors or President from time to time authorize. The Assistant Secretaries
may sign with the President or a Vice President certificates for shares of the
corporation the issuance of which shall have been authorized by a resolution of
the Board of Directors. The Assistant Secretaries and Assistant Treasurers, in
general, shall perform such duties and have such authority as shall from time to
time be delegated or assigned to them by the Secretary or the Treasurer,
respectively, or by the President or the Board of Directors.

         4.12. Other Assistants and Acting Officers. The Board of Directors and
the President shall have the power to appoint any person to act as assistant to
any officer, or as agent for the corporation in his stead, or to perform the
duties of such officer whenever for any reason it is impracticable for such
officer to act personally, and such assistant or acting officer or other agent
so appointed by the Board of Directors or President shall have the power to
perform all the duties of the office to which he is so appointed to be
assistant, or as to which he is so appointed to act, except as such power may be
otherwise defined or restricted by the Board of Directors or President.

         4.13. Salaries. The salaries of the principal officers shall be fixed
from time to time by the Board of Directors or by a duly authorized committee
thereof, and no officer shall be prevented from receiving such salary by reason
of the fact that he is also a director of the corporation.

                       ARTICLE V. CONTRACTS, LOANS, CHECKS
                                  AND DEPOSITS

         5.01. Contracts. The Board of Directors may authorize any officer or
officers, agent or agents, to enter into any contract or execute or deliver any
instrument in the name of and on behalf of the corporation, and such
authorization may be general or confined to specific instances. No contract or
other transaction between the corporation and one or more of its directors or
any other corporation, firm, association, or entity in which one or more of its
directors or officers are financially interested, shall be either void or
voidable because of such relationship or interest or because such director or
directors are present at the meeting of the Board of Directors or a committee
thereof which authorizes, approves or ratifies such contract or transaction or
because his or their votes are counted for such purpose, if (1) the fact of such
relationship or interest is disclosed or known to the Board of Directors or
committee which authorizes, approves or ratifies the contract or transaction by
a vote or consent sufficient for the purpose without counting the votes or
consents of such interested directors; or (2) the fact of such relationship or
interest is disclosed or known to the shareholders entitled to vote and they
authorize, approve or ratify such contract or transaction by vote or written
consent; or (3) the contract or transaction is fair and reasonable to the
corporation. Common or interested directors may be counted in determining the
presence of a quorum at a meeting of the Board of Directors or a committee
thereof which authorizes, approves or ratifies such contract or transaction. In
the absence of other designation, all deeds, mortgages and instruments of
assignment or pledge made by the corporation shall be executed in the name of
the corporation by the President or one of the Vice-Presidents and by the
Secretary, an Assistant Secretary, the Treasurer or an Assistant Treasurer; the
Secretary or an Assistant Secretary, when necessary or required, shall affix the
corporate seal thereto; and when so executed no other party to such instrument
or any third party shall be required to make any inquiry into the authority of
the signing officer or officers.

         5.02. Loans. No indebtedness for borrowed money shall be contracted on
behalf of the corporation and no evidences of such indebtedness shall be issued
in its name unless authorized by or under the authority of a resolution of the
Board of Directors. Such authorization may be general or confined to specific
instances.

<PAGE>   8

         5.03. Checks, Drafts, etc. All checks, drafts or other orders for the
payment of money, notes or other evidences of indebtedness issued in the name of
the corporation, shall be signed by such officer(s), employee(s) or agents of
the corporation and in such manner as shall from time to time be determined by
or under the authority of a resolution of the Board of Directors.

         5.04. Deposits. All funds of the corporation not otherwise employed
shall be deposited from time to time to the credit of the corporation in such
banks, trust companies or other depositaries as may be selected by or under the
authority of a resolution of the Board of Directors.

         5.05. Voting of Securities Owned by this Corporation. Subject always to
the specific directions of the Board of Directors, (a) any shares or other
securities issued by any other corporation and owned or controlled by this
corporation may be voted at any meeting of security holders of such other
corporation by the President of this corporation if he be present, or in his
absence by any Vice President of this corporation who may be present, and (b)
whenever, in the judgment of the President, or in his absence, of any Vice
President, it is desirable for this corporation to execute a proxy or written
consent in respect to any shares or other securities issued by any other
corporation and owned by this corporation, such proxy or consent shall be
executed in the name of this corporation by the President or one of the Vice
Presidents of this corporation, without necessity of any authorization by the
Board of Directors, affixation of corporate seal or countersignature or
attestation by another officer. Any person or persons designated in the manner
above stated as the proxy or proxies of this corporation shall have full right,
power and authority to vote the shares or other securities issued by such other
corporation and owned by this corporation the same as such shares or other
securities might be voted by this corporation.

                          ARTICLE VI. CERTIFICATES FOR SHARES AND THEIR TRANSFER

         6.01. Certificate for Shares. Certificates representing shares of the
corporation shall be in such form, consistent with law, as shall be determined
by the Board of Directors. Such certificates shall be signed by the President or
a Vice President and by the Secretary or an Assistant Secretary. All
certificates for shares shall be consecutively numbered or otherwise identified.
The name and address of the person to whom the shares represented thereby are
issued, with the number of shares and date of issue, shall be entered on the
stock transfer books of the corporation. All certificates surrendered to the
corporation for transfer shall be cancelled and no new certificate shall be
issued until the former certificate for a like number of shares shall have been
surrendered and cancelled, except as provided in Section 6.06.

         6.02. Facsimile Signatures and Seal. The seal of the corporation, if
the corporation has elected to have a seal, on any certificates for shares may
be a facsimile. The signatures of the President or Vice President and the
Secretary or Assistant Secretary upon a certificate may be facsimiles if the
certificate is manually signed on behalf of a transfer agent or a registrar,
other than the corporation itself or an employee of the corporation.

         6.03. Signature by Former Officers. In case any officer, who has signed
or whose facsimile signature has been placed upon any certificate for shares,
shall have ceased to be such officer before such certificate is issued, it may
be issued by the corporation with the same effect as if he were such officer at
the date of its issue.

         6.04. Transfer of Shares. Prior to due presentment of a certificate for
shares for registration of transfer the corporation may treat the registered
owner of such shares as the person exclusively entitled to vote, to receive
notifications and otherwise to have and exercise all the rights and power of an
owner. Where a certificate for shares is presented to the corporation with a
request to register for transfer, the corporation shall not be liable to the
owner, or any other person suffering loss as a result of such registration of
transfer if (a) there were on or with the certificate the necessary
endorsements, and (b) the corporation had no duty to inquire into adverse claims
or has discharged any such duty. The corporation may require reasonable
assurance that said endorsements are genuine and effective and in compliance
with such other regulations as may be prescribed by or under the authority of
the Board of Directors.

         6.05. Restrictions on Transfer. The face or reverse side of each
certificate representing shares shall bear a conspicuous notation of any
restriction imposed by the corporation upon the transfer of such shares.

         6.06. Lost, Destroyed or Stolen Certificates. Where the owner claims
that his certificate for shares has been lost, destroyed or wrongfully taken, a
new certificate shall be issued in place thereof if the owner (a) so requests
before the corporation has notice that such shares have been acquired by a bona
fide purchaser, and (b) files with the corporation a sufficient indemnity bond,
and (c) satisfies such other reasonable requirements as may be prescribed by or
under the authority of the Board of Directors.

         6.07. Consideration for Shares. The shares of the corporation may be
issued for such consideration as shall be fixed from time to time by the Board
of Directors or any committee thereof, provided that any shares having a par
value shall not be issued for a consideration less than the par value thereof.
The consideration to be paid for shares may be paid in whole or in part, in
money, in other property, tangible or intangible, or in labor or services
actually performed for the corporation. When

<PAGE>   9

payment of the consideration for which shares are to be issued shall have been
received by the corporation, such shares shall be deemed to be fully paid and
nonassessable by the corporation. No certificate shall be issued for any share
until such share is fully paid.

         6.08. Stock Regulations. The Board of Directors shall have the power
and authority to make all such rules and regulations not inconsistent with the
statutes of the State of Wisconsin as it may deem expedient concerning the
issue, transfer and registration of certificates representing shares of the
corporation.

                          ARTICLE VII. WAIVER OF NOTICE

         Whenever any notice whatever is required to be given under the
provisions of the Wisconsin Business Corporation Law or under the provisions of
the articles of incorporation or bylaws, a waiver thereof in writing signed at
any time, whether before or after the time of the meeting, by the person or
persons entitled to such notice shall be deemed equivalent to the giving of such
notice. Such waiver by a shareholder in respect of any matter of which notice is
required under any provision of the Wisconsin Business Corporation Law shall
contain the same information as would have been required to be included in such
notice under any applicable provisions of said Law, except that the time and
place of meeting need not be stated.

<PAGE>   10

                                  ARTICLE VIII.
                       UNANIMOUS CONSENT WITHOUT A MEETING

         Any action required by the articles of incorporation or bylaws or any
provision of the Wisconsin Business Corporation Law to be taken at a meeting or
any other action which may be taken at a meeting may be taken without a meeting
if a consent in writing setting forth the action so taken shall be signed by all
of the shareholders, directors or members of a committee thereof entitled to
vote with respect to the subject matter thereof and such consent shall have the
same force and effect as a unanimous vote.

                                   ARTICLE IX.
                                 INDEMNIFICATION

         9.01.  General Indemnification.

         The corporation shall indemnify any person who was or is a party or
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding, whether civil, criminal, administrative or investigative
(other than an action by or in the right of the corporation) by reason of the
fact that he or she is or was a director, officer, employee or agent of the
corporation, or is or was serving at the request of the corporation as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses, including attorneys' fees,
judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with such action, suit or proceeding if the person
acted in good faith and in a manner he or she reasonably believed to be in or
not opposed to the best interests of the corporation or such other corporation,
partnership, joint venture, trust or other entity or enterprise, and, with
respect to any criminal action or proceeding, had no reasonable cause to believe
his or her conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of no
contest or its equivalent, shall not, of itself, create a presumption that the
person did not act in good faith and in a manner which he or she reasonably
believed to be in or not opposed to the best interests of the corporation or
such other corporation, partnership, joint venture, trust or other entity or
enterprise, and, with respect to any criminal action or proceeding, had
reasonable cause to believe that his or her conduct was unlawful.

         9.02.  Indemnification and Derivative Actions.

         The corporation shall indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action or
suit by or in the right of the corporation to procure a judgment in its favor by
reason of the fact that he or she is or was a director, officer, employee or
agent of the corporation, or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other entity or enterprise against expenses, including
attorneys' fees, actually and reasonably incurred by him or her in connection
with the defense or settlement of such action or suit if he or she acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to
the best interests of the corporation or such other corporation, partnership,
joint venture, trust or other entity or enterprise, and except that no
indemnification shall be made in respect of any claim, issue or matter as to
which such person shall have been adjudged to be liable for negligence or
misconduct in the performance of his or her duty to the corporation or such
other corporation, partnership, joint venture, trust, or other entity or
enterprise unless and only to the extent that the court in which such action or
suit was brought shall determine upon application that, despite the adjudication
of liability but in view of all circumstances of the case, such person is fairly
and reasonably entitled to indemnity for such expenses which such court shall
deem proper.

         9.03. Successful Defense. To the extent that a director, officer,
employee or agent has been successful on the merits or otherwise in defense of
any action, suit or proceeding referred to in Sections 9.01 or 9.02, or in
defense of any claim, issue or matter therein, he shall be indemnified against
expenses, including attorneys' fees, actually and reasonably incurred by him in
connection therewith.

         9.04. Manner of Authorization. Any indemnification under Sections 9.01
or 9.02, unless ordered by a court, shall be made by the corporation only as
authorized in the specific case upon a determination that indemnification of the
director, officer, employee or agent is proper in the circumstances because he
has met the applicable standard of conduct set forth in Sections 9.01 or 9.02.
Such determination shall be made:

         (1) By the board of directors by a majority vote of a quorum consisting
    of directors who were not parties to such action, suit or proceeding;

         (2) If such a quorum is not obtainable, or, even if obtainable a quorum
    of disinterested directors so directs, by independent legal counsel in a
    written opinion; or

<PAGE>   11

         (3) By a majority of the shares entitled to vote thereon.

         9.05. Advance Payments. Expenses, including attorneys' fees, incurred
in defending a civil or criminal action, suit or proceeding may be paid by the
corporation in advance of the final disposition of such action, suit or
proceeding as authorized in the manner provided in Section 9.04 upon receipt of
an undertaking by or on behalf of the director, officer, employee or agent to
repay such amount unless it shall ultimately be determined that he is entitled
to be indemnified by the corporation as authorized in this article.

         9.06. Nonexclusivity. The indemnification provided by this article
shall not be deemed exclusive of any other rights to which those indemnified may
be entitled under law or any agreement, vote of shareholders or disinterested
directors or otherwise, both as to action in his official capacity and as to
action in another capacity while holding such office, and shall continue as to a
person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of the heirs, executors and administrators of such a
person.

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

         9.08. Liberal Construction. In order for the corporation to obtain and
retain qualified directors, officers, employees and agents, the foregoing
provisions shall be liberally administered in order to afford maximum
indemnification of directors, officers, employees and agents and, accordingly,
the indemnification above provided for shall be granted in all cases unless to
do so would clearly contravene applicable law, controlling precedent or public
policy.

                                    ARTICLE X
                                      SEAL

         The Board of Directors may provide a corporate seal which shall be
circular in form and shall have inscribed thereon the name of the corporation
and the state of incorporation and the words, "Corporate Seal."

                                   ARTICLE XI
                                   AMENDMENTS

         11.01. By Shareholders. These bylaws may be altered, amended or
repealed and new bylaws may be adopted by the shareholders by affirmative vote
of not less than a majority of the shares present or represented at an annual or
special meeting of the shareholders at which a quorum is in attendance.

         11.02. By Directors. These bylaws may also be altered, amended or
repealed and new bylaws may be adopted by the Board of Directors by affirmative
vote of a majority of the number of directors present at any meeting at which a
quorum is in attendance; but no bylaw adopted by the shareholders shall be
amended or repealed by the Board of Directors if the bylaw so adopted so
provides.

         11.03. Implied Amendments. Any action taken or authorized by the
shareholders or by the Board of Directors, which would be inconsistent with the
bylaws then in effect but is taken or authorized by affirmative vote of not less
than the number of shares or the number of directors required to amend the
bylaws so that the bylaws would be consistent with such action, shall be given
the same effect as though the bylaws had been temporarily amended or suspended
so far, but only so far, as is necessary to permit the specific action so taken
or authorized.

                                   ARTICLE XII
                                     GENDER

         12.01. Gender. The use of the masculine gender in these bylaws includes
the feminine gender where appropriate.

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