Document:

<PAGE>

                                                                     EXHIBIT 4.3

                                 RESTATED BYLAWS

                                       OF

                               RADISYS CORPORATION

                                    ARTICLE I

                        SHAREHOLDERS MEETINGS AND VOTING

         1.1 ANNUAL MEETING. The annual meeting of the shareholders shall be
held on the third Tuesday in May of each year at 10:00 a.m., unless a different
date or time is fixed by the Board of Directors and stated in the notice of the
meeting. Failure to hold an annual meeting on the stated date shall not affect
the validity of any corporate action.

         1.2 SPECIAL MEETINGS. Special meetings of the shareholders, for any
purposes, unless otherwise prescribed by statute, may be called by the Chairman
of the Board or the Board of Directors and shall be called by the Chairman of
the Board upon the written demand of the holders of not less than one-tenth of
all the votes entitled to be cast on any issue proposed to be considered at the
meeting. The demand shall describe the purposes for which the meeting is to be
held and shall be signed, dated and delivered to the Secretary.

         1.3 PLACE OF MEETINGS. Meetings of the shareholders shall be held at
any place in or out of Oregon designated by the Board of Directors. If a meeting
place is not designated by the Board of Directors, the meeting shall be held at
the Corporation's principal office.

         1.4 NOTICE OF MEETINGS. Written or printed notice stating the date,
time and place of the shareholders meeting and, in the case of a special meeting
or a meeting for which special notice is required by law, the purposes for which
the meeting is called, shall be delivered by the Corporation to each shareholder
entitled to vote at the meeting and, if required by law, to any other
shareholders entitled to receive notice, not earlier than 60 days nor less than
10 days before the meeting date. If mailed, the notice shall be deemed delivered
when it is mailed to the shareholder with postage prepaid at the

<PAGE>

shareholder's address shown in the Corporation's record of shareholders.

         1.5 WAIVER OF NOTICE. A shareholder may at any time waive any notice
required by law, these Bylaws or the Articles of Incorporation. The waiver shall
be in writing, be signed by the shareholder entitled to the notice and be
delivered to the Corporation for inclusion in the minutes for filing with the
corporate records. A shareholder's attendance at a meeting waives objection to
(i) lack of notice or defective notice of the meeting, unless the shareholder at
the beginning of the meeting objects to holding the meeting or transacting
business at the meeting, and (ii) consideration of a particular matter at the
meeting that is not within the purposes described in the meeting notice, unless
the shareholder objects to considering the matter when it is presented.

         1.6 FIXING OF RECORD DATE. The Board of Directors may fix a future
date, or a later time on the date the board fixes the record date, as the record
date to determine the share holders entitled to notice of a shareholders
meeting, demand a special meeting, vote, take any other action or receive
payment of any share or cash dividend or other distribution. This date shall not
be earlier than 70 days before the meeting or action requiring a determination
of shareholders. The record date for any meeting, vote or other action of the
shareholders shall be the same for all voting groups. If not otherwise fixed by
the Board of Directors, the record date to determine shareholders entitled to
notice of and to vote at an annual or special shareholders meeting is the close
of business on the day before the notice is first mailed or otherwise
transmitted to shareholders. If not otherwise fixed by the Board of Directors,
the record date to determine shareholders entitled to receive payment of any
share or cash dividend or other distribution is the close of business on the day
the Board of Directors authorizes the share or cash dividend or other
distribution.

         1.7 SHAREHOLDERS LIST FOR MEETING. After a record date for a meeting is
fixed, the Corporation shall prepare an alphabetical list of all shareholders
entitled to notice of the shareholders meeting. The list shall be arranged by
voting group and, within each voting group, by class or series of shares, and it
shall show the address of and number of shares held by each shareholder. The
shareholders list shall be available for inspection by any shareholder, upon
proper demand as may be required by law, beginning two business days after
notice of the meeting is given and continuing through the meeting, at the
Corporation's principal office or at a place identified in the meeting notice in
the city where the meeting will be held. The Corporation shall make the
shareholders list available at the meeting, and any shareholder or the
shareholder's agent or attorney shall be entitled to inspect the list at any
time during the meeting or any adjournment. Refusal or failure to prepare or
make available the shareholders list does not affect the validity of action
taken at the meeting.

         1.8      QUORUM; ADJOURNMENT.

                                       2

<PAGE>

                  (1) Shares entitled to vote as a separate voting group may
take action on a matter at a meeting only if a quorum of those shares exists
with respect to that matter. A majority of the votes entitled to be cast on the
matter by the voting group constitutes a quorum of that voting group for action
on that matter.

                  (2) A majority of votes represented at the meeting, although
less than a quorum, may adjourn the meeting from time to time to a different
time and place without further notice to any shareholder of any adjournment,
except that notice is required if a new record date is or must be set for the
adjourned meeting. At an adjourned meeting at which a quorum is present, any
business may be transacted that might have been transacted at the meeting
originally held.

                  (3) Once a share is represented for any purpose at a meeting,
it shall be present for quorum purposes for the remainder of the meeting and for
any adjournment of that meeting unless a new record date is or must be set for
the adjourned meeting. A new record date must be set if the meeting is adjourned
to a date more than 120 days after the date fixed for the original meeting.

         1.9      VOTING REQUIREMENTS; ACTION WITHOUT MEETING.

                  (1) If a quorum exists, action on a matter, other than the
election of directors, by a voting group is approved if the votes cast within
the voting group favoring the action exceed the votes cast opposing the action,
unless a greater number of affirmative votes is required by law or the Articles
of Incorporation. Unless otherwise provided in the Articles of Incorporation,
directors are elected by a plurality of the votes cast by the shares entitled to
vote in the election at a meeting at which a quorum is present.

                  (2) Action required or permitted by law to be taken at a
shareholders meeting may be taken without a meeting if the action is taken by
all the shareholders entitled to vote on the action. The action must be
evidenced by one or more written consents describing the action taken, signed by
all the shareholders entitled to vote on the action and delivered to the
Secretary for inclusion in the minutes for filing with the corporate records.
Shareholder action taken by written consent is effective when the last
shareholder signs the consent, unless the consent specifies an earlier or later
effective date.

         1.10 PROXIES. A shareholder may vote shares in person or by proxy. A
shareholder may appoint a proxy by signing an appointment form either personally
or by the shareholder's attorney-in-fact. An appointment of a proxy is effective
when received by the Secretary or other officer of the Corporation authorized to
tabulate votes. An appointment is valid for 11 months unless a different period
is provided in the appointment form. An appointment is revocable by the
shareholder unless the appointment form conspicuously states that it is irre
vocable and the appointment is

                                       3

<PAGE>

coupled with an interest that has not been extinguished.

         1.11 MEETING BY TELEPHONE CONFERENCE. Shareholders may participate in
an annual or special meeting by, or conduct the meeting through, use of any
means of communications by which all shareholders participating may
simultaneously hear each other during the meeting, except that no meeting for
which a written notice is sent to shareholders may be conducted by this means
unless the notice states that participation in this manner is permitted and
describes how any shareholder desiring to participate in this manner may notify
the Corporation. Participation in a meeting by this means shall constitute
presence in person at the meeting.

         1.12 PROPER BUSINESS FOR SHAREHOLDERS' MEETING. To be properly brought
before the meeting, business must be either (i) specified in the notice of
meeting (or any supplement thereto) given by or at the direction of the Board of
Directors, (ii) otherwise properly brought before a meeting by or at the
direction of the Board of Directors, or (iii) otherwise properly brought before
the meeting by a shareholder. In addition to any other applicable requirements,
for business to be properly brought before an annual meeting by a shareholder,
the shareholder must have given timely notice thereof in writing to the
Secretary of the Corporation. To be timely, a shareholder's notice must be
delivered to or mailed and received at the principal executive office of the
Corporation not less than 50 days nor more than 75 days prior to the meeting;
PROVIDED, HOWEVER, that in the event that less than 65 days' notice or prior
public disclosure of the date of the meeting is given or made to shareholders,
notice by the shareholder to be timely must be so received not later than the
close of business on the 10th day following the day on which such notice of the
date of the meeting was mailed or such public disclosure was made, whichever
first occurs. A shareholder's notice to the Secretary shall set forth (i) one or
more matters appropriate for shareholder action that the shareholder proposes to
bring before the meeting, (ii) a brief description of the matters desired to be
brought before the meeting and the reasons for conducting such business at the
meeting, (iii) the name and record address of the shareholder, (iv) the class
and number of shares of the Corporation that the shareholder owns or is entitled
to vote and (v) any material interest of the shareholder in such matters.
Notwithstanding anything in these bylaws to the contrary, no business shall be
conducted at the annual meeting except in accordance with the procedure set
forth in this Section 1.12; PROVIDED, HOWEVER, that nothing in this Section 1.12
shall be deemed to preclude discussion by any shareholder of any business
properly brought before the meeting. The Chairman of the Board, or the President
in the absence of the Chairman of the Board, shall, if the facts warrant,
determine and declare to the meeting that the business was not properly brought
before the meeting in accordance with the provisions of this Section 1.12 and if
the Chairman of the Board, or the President in the absence of the Chairman of
the Board, should so determine, shall so declare to the meeting any such
business not properly brought before the meeting shall not be transacted.

                                       4

<PAGE>

         1.13     SHAREHOLDER NOMINATION OF DIRECTORS.

                  (1) Not less than 50 days nor more than 75 days prior to the
date of any annual meeting of shareholders, any shareholder who intends to make
a nomination at the annual meeting shall deliver a notice to the Secretary of
the Corporation setting forth (i) as to each nominee whom the shareholder
proposes to nominate for election or reelection as a director, (a) the name,
age, business address and residence address of the nominee, (b) the principal
occupation or employment of the nominee, (c) the class and number of shares of
capital stock of the Corporation that are beneficially owned by the nominee of
shares of capital stock of the Corporation that are beneficially owned by the
nominee and (d) any other information concerning the nominee that would be
required, under the rules of the Securities and Exchange Commission, in a proxy
statement soliciting proxies for the election of such nominee; and (ii) as to
the shareholder giving the notice, (a) the name and record address of the
shareholder and (b) the class and number of shares of capital stock of the
Corporation that are beneficially owned by the shareholder; PROVIDED, HOWEVER,
that in the event that less than 65 days' notice or prior public disclosure of
the date of the annual meeting is given or made to shareholders, notice by the
shareholder to be timely must be so delivered not later than the close of
business on the 10th day following the day on which such notice of the date of
the meeting was mailed or such public disclosure was made, whichever first
occurs. Such notice shall include a signed consent to serve as a director of the
Corporation, if elected, of each such nominee. 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 a director of the corporation.

                  (2) Any shareholder who intends to make a nomination at any
special meeting of shareholders held for the purpose of electing directors shall
deliver a timely notice to the Secretary of the Corporation setting forth (i) as
to each nominee whom the shareholder proposes to nominate for election or
reelection as a director, (a) the name, age, business address and residence
address of the nominee, (b) the principal occupation or employment of the
nominee, (c) the class and number of shares of capital stock of the corporation
that are beneficially owned by the nominee of shares of capital stock of the
corporation that are beneficially owned by the nominee and (d) any other
information concerning the nominee that would be required, under the rules of
the Securities and Exchange Commission, in a proxy statement soliciting proxies
for the election of such nominee; and (ii) as to the shareholder giving the
notice, (a) the name and record address of the shareholder and (b) the class and
number of shares of capital stock of the Corporation that are beneficially owned
by the shareholder. To be timely for these purposes, such notice must be given
(i) if given by the shareholder (or any of the shareholders) who or that made a
demand for a meeting pursuant to which such meting is to be held, concurrently
with the delivery of such demand, and

                                       5

<PAGE>

(ii) otherwise, not later than the close of business on the 10th day following
the date on which the notice of the special meeting was mailed. Such notice
shall include a signed consent to serve as a director of the Corporation, if
elected, of each such nominee. 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 a
director of the Corporation.

                  (3) The Chairman of the Board, or the President in the absence
of the Chairman of the Board, shall, if the facts warrant, determine and declare
that a nominee was not properly nominated in accordance with the provisions of
this Section 1.13 and if the Chairman of the Board, or the President in the
absence of the Chairman of the Board, should so determine, shall so declare to
the meeting any such nominee shall not be considered by shareholders.

                                   ARTICLE II

                               BOARD OF DIRECTORS

         2.1 DUTIES OF BOARD OF DIRECTORS. All corporate powers of the
Corporation shall be exercised by or under the authority of its Board of
Directors; the business and affairs of the Corporation shall be managed under
the direction of its Board of Directors.

         2.2 NUMBER, TERM AND QUALIFICATION. The number of directors of the
Corporation shall be at least one and no more than ten. Within this range, at
the time of adoption of these Restated Bylaws the number of directors shall be
six, and the number of directors shall otherwise be determined from time to time
by the Board of Directors. The term of a director shall expire at the next
annual meeting of shareholders after his or her election. Despite the expiration
of a director's term, the director shall continue to serve until the director's
successor is elected and qualified or the number of directors is decreased.
Directors need not be residents of the State of Oregon or shareholders of the
Corporation.

         2.3 REGULAR MEETINGS. A regular meeting of the Board of Directors may
be held without notice other than this Bylaw immediately after, and at the same
place as, the annual meeting of shareholders. The Board of Directors may provide
by resolution the time and place for the holding of additional regular meetings
in or out of Oregon without notice other than the resolution.

         2.4 SPECIAL MEETINGS. Special meetings of the Board of Directors may be
called by or at the request of the Chief Executive Officer or any two directors.
The person or persons authorized to call special meetings of the Board of
Directors may fix any place in or out of Oregon as the place for holding any
special meeting of the Board of Directors called by them.

                                       6

<PAGE>

         2.5 NOTICE. Notice of the date, time and place of any special meeting
of the Board of Directors shall be given at least 24 hours prior to the meeting
by notice communicated in person, by telephone, telegraph, teletype, other form
of wire or wireless communication, mail or private carrier. If written, notice
shall be effective at the earliest of (a) when received, (b) three days after
its deposit in the United States mail, as evidenced by the postmark, if mailed
postpaid and correctly addressed, or (c) on the date shown on the return
receipt, if sent by registered or certified mail, return receipt requested and
the receipt is signed by or on behalf of the addressee. Notice by all other
means shall be deemed effective when received by or on behalf of the director.
Notice of any regular or special meeting need not describe the purposes of the
meeting unless required by law or the Articles of Incorporation.

         2.6 WAIVER OF NOTICE. A director may at any time waive any notice
required by law, these Bylaws or the Articles of Incorporation. Except as set
forth below, the waiver must be in writing, be signed by the director entitled
to the notice, specify the meeting for which notice is waived and be filed with
the minutes or corporate records. A director's attendance at or participation in
a meeting waives any required notice to the director of the meeting unless the
director at the beginning of the meeting, or promptly upon the director's
arrival, objects to holding the meeting or transacting business at the meeting
and does not thereafter vote for or assent to action taken at the meeting.

         2.7 QUORUM. A majority of the number of directors set forth in Section
2.2 of these Bylaws shall constitute a quorum for the transaction of business at
any meeting of the Board of Directors. If less than a quorum is present at a
meeting, a majority of the directors present may adjourn the meeting from time
to time without further notice.

         2.8 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 a different number is provided by law, the Articles of
Incorporation or these Bylaws.

         2.9 MEETING BY TELEPHONE CONFERENCE; ACTION WITHOUT MEETING.

                  (1) Directors may participate in a regular or special meeting
by, or conduct the meeting through, use of any means of communications by which
all directors participating may simultaneously hear each other during the
meeting. Participation in a meeting by this means shall constitute presence in
person at the meeting.

                  (2) Any action that is required or permitted to be taken at a
meeting of the Board of Directors may be taken without a meeting if one or more
written consents describing the action taken are signed by all of the directors
entitled to vote on the matter and included in the minutes or filed with the
corporate records reflecting the

                                       7

<PAGE>

action taken. The action shall be effective when the last director signs the
consent, unless the consent specifies an earlier or later effective date.

         2.10 VACANCIES. Any vacancy on the Board of Directors, including a
vacancy resulting from an increase in the number of directors, may be filled by
the shareholders, the Board of Directors, the remaining directors if less than a
quorum (by the vote of a majority thereof) or by a sole remaining director. Any
vacancy not filled by the directors shall be filled by election at an annual
meeting or at a special meeting of shareholders called for that purpose. A
vacancy that will occur at a specified later date, by reason of a resignation or
otherwise, may be filled before the vacancy occurs, but the new director may not
take office until the vacancy occurs.

         2.11 COMPENSATION. By resolution of the Board of Directors, the
directors may be paid reasonable compensation for services as directors and
their expenses of attending meetings of the Board of Directors.

         2.12 PRESUMPTION OF ASSENT. A director who is present at a meeting of
the Board of Directors or a committee of the Board of Directors shall be deemed
to have assented to the action taken at the meeting unless (a) the director's
dissent or abstention from the action is entered in the minutes of the meeting,
(b) the director delivers a written notice of dissent or abstention to the
action to the presiding officer of the meeting before any adjournment or to the
Corporation immediately after the adjournment of the meeting or (c) the director
objects at the beginning of the meeting or promptly upon the director's arrival
to the holding of the meeting or transacting business at the meeting. The right
to dissent or abstain is not available to a director who voted in favor of the
action.

         2.13 RESIGNATION. Any director may resign by delivering written notice
to the Board of Directors, its chairperson or the Corporation. Unless the notice
specifies a later effective date, a resignation notice shall be effective upon
the earlier of (a) receipt, (b) five days after its deposit in the United States
mails, if mailed postpaid and correctly addressed, or (c) on the date shown on
the return receipt, if sent by registered or certified mail, return receipt
requested, and the receipt is signed by addressee. Once delivered, a resignation
notice is irrevocable unless revocation is permitted by the Board of Directors.

                                   ARTICLE III

                             COMMITTEES OF THE BOARD

         3.1 COMMITTEES. The Board of Directors may create one or more
committees and appoint members of the Board of Directors to serve on them. Each
committee shall have two or more members. The creation of a committee and
appointment of members to it must be approved by a majority of all directors in
office when the action is taken.

                                       8

<PAGE>

Subject to any limitation imposed by the Board of Directors or by law, each
committee may exercise all the authority of the Board of Directors in the
management of the Corporation. A committee may not take any action that a
committee is prohibited from taking by the Oregon Business Corporation Act.

         3.2 CHANGES OF SIZE AND FUNCTION. Subject to the provisions of law, the
Board of Directors shall have the power at any time to change the number of
committee members, fill committee vacancies, change any committee members and
change the functions and terminate the existence of a committee.

         3.3 CONDUCT OF MEETINGS. Each committee shall conduct its meetings in
accordance with the applicable provisions of these Bylaws relating to meetings
and action without meetings of the Board of Directors. Each committee shall
adopt any further rules regarding its conduct, keep minutes and other records
and appoint subcommittees and assistants as it deems appropriate.

         3.4 COMPENSATION. By resolution of the Board of Directors, committee
members may be paid reasonable compensation for services on committees and their
expenses of attending committee meetings.

                                   ARTICLE IV

                                    OFFICERS

         4.1 APPOINTMENT. The Board of Directors at its first meeting following
its election each year shall appoint a Chairman of the Board of Directors
("Chairman of the Board"), a President and a Secretary. The Board of Directors
or the President may appoint any other officers, assistant officers and agents.
Any two or more offices may be held by the same person.

         4.2 COMPENSATION. The Corporation may pay its officers reasonable
compensation for their services as fixed from time to time by the Board of
Directors, or, with respect to officers appointed by the President, as fixed
from time to time by the President.

         4.3 TERM. The term of office of all officers commences upon their
appointment and continues until their successors are appointed or until their
resignation or removal.

         4.4 REMOVAL. Any officer or agent appointed by the Board of Directors
or the Chairman of the Board may be removed by the Board of Directors at any
time with or without cause. Any officer or agent appointed by the Chairman of
the Board may be removed by the Chairman of the Board at any time with or
without cause.

                                       9

<PAGE>

         4.5 CHAIRMAN OF THE BOARD. The Chairman of the Board shall preside at
all meetings of the Board of Directors and shall perform any duties and
responsibilities prescribed from time to time by the Board of Directors.

         4.6 PRESIDENT. The President shall be the chief executive officer of
the Corporation 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. The President may execute in behalf of the Corporation all
contracts, agreements, stock certificates and other instruments. The President
shall from time to time report to the Board of Directors all matters within the
President's knowledge which should be brought to the attention of the Board of
Directors. The President shall vote all shares of stock in other corporations
owned by the Corporation, and shall be empowered to execute proxies, waivers of
notice, consents and other instruments in the name of the Corporation with
respect to such stock. The President shall have any other duties and
responsibilities prescribed by the Board of Directors.

         4.7 VICE PRESIDENTS. Each Vice President shall perform duties and
responsibilities prescribed by the Board of Directors or the President. The
Board of Directors or the President may confer a special title upon a Vice
President.

         4.8 SECRETARY.

                  (1) The Secretary shall record and keep the minutes of all
meetings of the directors and shareholders in one or more books provided for
that purpose and perform any duties prescribed by the Board of Directors or the
President.

                  (2) Any assistant secretary shall have the duties prescribed
from time to time by the Board of Directors, the President or the Secretary. In
the absence or disability of the Secretary, the Secretary's duties shall be
performed by an assistant secretary.

         4.9 CHIEF FINANCIAL OFFICER. The Chief Financial Officer shall have
charge and custody and be responsible for all funds and securities of the
Corporation and shall have other duties as prescribed from time to time by the
Board of Directors or the President.

                                    ARTICLE V

                                 INDEMNIFICATION

                  The Corporation shall indemnify to the fullest extent not
prohibited by law, any person who is made, or threatened to be made, a party to
an action, suit or

                                      10

<PAGE>

proceeding, whether civil, criminal, administrative, investigative or other
(including an action, suit or proceeding by or in the right of the Corporation)
by reason of the fact that such person is or was a director of the Corporation
or a fiduciary within the meaning of the Employee Retirement Income Security Act
of 1974 with respect to any employee benefit plan of the Corporation, or serves
or served at the request of the Corporation as a director or as a fiduciary of
an employee benefit plan, of another corporation, partnership, joint venture,
trust or other enterprise. The Corporation shall pay for or reimburse the
reasonable expenses incurred by any such person in any such proceeding to the
fullest extent not prohibited by law. No amendment to these Bylaws that limits
the Corporation's obligation to indemnify any person shall have any effect on
such obligation for any act or omission that occurs prior to the later to occur
of the effective date of the amendment or the date notice of the amendment is
given to the person. This Article shall not be deemed exclusive of any other
provisions for indemnification or advancement of expenses of directors,
officers, employees, agents and fiduciaries that may be included in the Articles
of Incorporation or any statute, agreement, general or specific action of the
Board of Directors, vote of shareholders or other document or arrangement.

                                   ARTICLE VI

                               ISSUANCE OF SHARES

         6.1 ADEQUACY OF CONSIDERATION. Before the Corporation issues shares,
the Board of Directors shall determine that the consideration received or to be
received for the shares to be issued is adequate. The authorization by the Board
of Directors of the issuance of shares for stated consideration shall evidence a
determination by the Board that such consideration is adequate.

         6.2 CERTIFICATES FOR SHARES.

                  (1) Certificates representing shares of the Corporation shall
be in any form determined by the Board of Directors consistent with the
requirements of the Oregon Business Corporation Act and these Bylaws. The
certificates shall be signed, either manually or in facsimile, by two officers
of the Corporation, at least one of whom shall be the Chairman of the Board, the
President or a Vice President, and may be sealed with the seal of the
Corporation, if any, or a facsimile thereof. All certificates for shares shall
be consecutively numbered or otherwise identified. The signatures of officers
upon a certificate may be facsimiles if the certificate is countersigned by a
transfer agent or any assistant transfer agent or registered by a registrar,
other than the Corporation itself or an employee of the Corporation.

                  (2) Every certificate for shares of stock that are subject to
any restriction on transfer or registration of transfer pursuant to the Articles
of Incorporation,

                                      11

<PAGE>

the Bylaws, securities laws, a shareholders agreement or any agreement to which
the Corporation is a party shall have conspicuously noted on the face or back of
the certificate either the full text of the restriction or a statement of the
existence of the restriction and that the Corporation retains a copy of the full
text. Every certificate issued when the Corporation is authorized to issue more
than one class or series within a class of shares shall set forth on its face or
back either (a) a summary of the designations, relative rights, preferences and
limitations of the shares of each class and the variations in rights,
preferences and limitations for each series authorized to be issued and the
authority of the Board of Directors to determine variations for future series or
(b) a statement of the existence of those designations, relative rights,
preferences and limita tions and a statement that the Corporation will furnish a
copy thereof to the holder of the certificate upon written request and without
charge.

                  (3) All certificates surrendered to the Corporation for
transfer shall be canceled. The Corporation shall not issue a new certificate
for previously issued shares until the former certificate or certificates for
those shares are surrendered and canceled; except that in case of a lost,
destroyed or mutilated certificate, a new certificate may be issued on terms
prescribed by the Board of Directors.

         6.3 TRANSFER AGENT AND REGISTRAR. The Board of Directors may from time
to time appoint one or more transfer agents and one or more registrars for the
shares of the Corporation, with powers and duties determined by the Board of
Directors.

         6.4 OFFICER CEASING TO ACT. If the person who signed a share
certificate, either manually or in facsimile, no longer holds office when the
certificate is issued, the certificate is nevertheless valid.

                                   ARTICLE VII

                 CONTRACTS, LOANS, CHECKS AND OTHER INSTRUMENTS

         7.1 CONTRACTS. Except as otherwise provided by law, the Board of
Directors may authorize any officers or agents to execute and deliver any
contract or other instrument in the name of and on behalf of the Corporation,
and this authority may be general or confined to specific instances.

         7.2 LOANS. The Corporation shall not borrow money and no evidence of
indebtedness shall be issued in its name unless authorized by the Board of
Directors. This authority may be general or confined to specific instances.

         7.3 CHECKS, DRAFTS, ETC. All checks, drafts or other orders for the
payment of money and notes or other evidences of indebtedness issued in the name
of the Corporation shall be signed in the manner and by the officers or agents
of the

                                      12

<PAGE>

Corporation designated by the Board of Directors.

         7.4 DEPOSITS. All funds of the Corporation not otherwise employed shall
be deposited to the credit of the Corporation in those banks, trust companies or
other depositaries as the Board of Directors or officers of the Corporation
designated by the Board of Directors select, or be invested as authorized by the
Board of Directors.

                                  ARTICLE VIII

                            MISCELLANEOUS PROVISIONS

         8.1 SEVERABILITY. A determination that any provision of these Bylaws is
for any reason inapplicable, invalid, illegal or otherwise ineffective shall not
affect or invalidate any other provision of these Bylaws.

         8.2 AMENDMENTS. These Bylaws may be amended or repealed and new Bylaws
may be adopted by the Board of Directors or the shareholders of the Corporation.

                            Adopted: December 5, 1995

                                      13<PAGE>

THIS WARRANT AND THE SHARES OF STOCK OF FINET.COM, INC. TO BE ISSUED UPON ANY
EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND
EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY
STATE SECURITIES LAWS AND ANY SALE, TRANSFER, PLEDGE OR OTHER DISPOSITION
THEREOF MAY BE MADE ONLY (i) IN A REGISTRATION UNDER SAID ACT OR (ii) IF AN
EXEMPTION FROM REGISTRATION UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS
IS AVAILABLE AND THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL TO THAT EFFECT
REASONABLY SATISFACTORY TO IT.

                                  FINET.COM, INC.

                           COMMON STOCK PURCHASE WARRANT
                   TO PURCHASE 200,000 SHARES OF THE COMMON STOCK
                                 OF FINET.COM, INC.

                       This Warrant Expires February 8, 2005

Warrant No. AB00014

       THIS CERTIFIES that, subject to the terms and conditions set forth in
this Warrant, ARCHERY CAPITAL LLC (the "Holder") is entitled to purchase from
FiNet.com, Inc., a Delaware corporation (the "Company"), at any time or from
time to time during the Exercise Period (as defined in Section 14 below) the
number of fully paid and non-assessable shares of common stock, par value $.01
per share, of the Company (the "Shares") as provided herein upon surrender of
this Warrant at the principal office of the Company, and, at the election of the
Holder, upon payment of the purchase price at said office in cash or by
cashier's check or by the wire transfer of funds in a dollar amount equal to the
purchase price of the Shares for which the consideration is being given.

       This Warrant shall be exercisable for that number of Shares as set forth
above.

       1.     PURCHASE PRICE. The purchase price of one share of Common Stock
(or such securities as may be substituted for one share of Common Stock pursuant
to the provisions set forth below) (the "Warrant Price") shall be One Dollar
Eighty Seven and One Half Cents ($1.875).

       2.     ADJUSTMENT OF WARRANT PRICE AND NUMBER OF SHARES. The number and
kind of securities issuable upon the exercise of this Warrant shall be subject
to adjustment from time to time upon the happening of certain events as follows:

              (a)    ADJUSTMENT FOR DIVIDENDS IN STOCK.  If, at any time on or
after the date hereof, the holders of the Common Stock of the Company (or any
shares of stock or other securities at the time receivable upon the exercise of
this Warrant) shall have received, or, on or after the record date fixed for the
determination of eligible stockholders, shall have become entitled to receive,
without payment therefor, other or additional stock of the Company by way of
dividend (other than as provided for in Section 2(b) below), then and in each
such case, upon the

                                         -1-
<PAGE>

exercise of this Warrant, the Holder shall be entitled to receive, in addition
to the number of shares of Common Stock receivable and without payment of any
additional consideration, the amount of such other or additional stock of the
Company which the Holder would receive on the date of such exercise had it been
the holder of record of such Common Stock on the date hereof and had thereafter,
during the period from the date hereof to and including the date of such
exercise, retained such shares and/or all other additional stock receivable by
it during such period and given effect to all adjustments called for during such
period by this Section 2.

              (b)    ADJUSTMENT FOR CHANGES IN COMMON STOCK.  In the event of
changes in the outstanding Common Stock of the Company by reason of split-ups,
recapitalizations, reclassifications, mergers, consolidations, combinations or
exchanges of shares, separations, reorganizations, liquidations, or the like,
the number and class of shares available under the Warrant in the aggregate and
the Warrant Price shall be correspondingly adjusted by the Board of Directors of
the Company.  The adjustment shall be such as will give the Holder, upon
exercise for the same aggregate Warrant Price, the total number, class, and kind
of shares as the Holder would have owned had the Warrant been exercised prior to
the event and had the Holder continued to hold such shares until after the event
requiring adjustment.

       3.     NO FRACTIONAL SHARES.  No fractional shares of Common Stock will
be issued in connection with any subscription under this Warrant.  In lieu of
any fractional shares which would otherwise be issuable, the Company shall pay
cash equal to the product of such fraction multiplied by the fair market value
of one share of Common Stock on the date of exercise as determined in good faith
by the Company's Board of Directors.

       4.     NO STOCKHOLDER RIGHTS.  This Warrant shall not entitle its holder
to any of the rights of a stockholder of the Company prior to its exercise.

       5.     RESERVATION OF STOCK.  The Company covenants that during the
period this Warrant is exercisable, the Company will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the
issuance of Common Stock upon the exercise of this Warrant.  The Company agrees
that its issuance of this Warrant shall constitute full authority to its
officers who are charged with the duty of executing stock certificates to
execute and issue the necessary certificates for shares of Common Stock upon the
exercise of this Warrant.

       6.     EXERCISE OF WARRANT.  This Warrant may be exercised by the Holder
or its registered assigns, in whole or in part, by the surrender of this Warrant
at the principal office of the Company, together with the attached form of
subscription, duly executed, and accompanied by payment in full of the amount of
the Warrant Price in the form described in this Warrant.  Upon partial exercise
of this Warrant, a new warrant or warrants containing the same date and
provisions as this Warrant shall be issued by the Company to the Holder for the
number of shares of Common Stock with respect to which this Warrant shall not
have been exercised.  A Warrant shall be deemed to have been exercised
immediately prior to the close of business on the date of its surrender for
exercise as provided above, and the person entitled to receive the shares of
Common Stock issuable upon such exercise shall be treated for all purposes as
the holder of such

                                         -2-
<PAGE>

shares of record as of the close of business on such date.  As promptly as
practicable on or after such date, the Company shall issue and deliver to the
person or persons entitled to receive the shares, a certificate or certificates
for the number of full shares of Common Stock issuable upon such exercise,
together with cash in lieu of any fraction of a share as provided above.

       7.     CERTIFICATE OF ADJUSTMENT.  Whenever the Warrant Price is adjusted
as provided in Section 2, the Company shall promptly deliver to the record
holder of this Warrant a certificate of an officer of the Company setting forth
the relevant Warrant Price or number of shares after such adjustment and setting
forth a brief statement of the facts requiring such adjustment.

       8.     COMPLIANCE WITH SECURITIES ACT.  The Holder, by acceptance of this
Warrant, agrees that this Warrant and the shares of Common Stock to be issued
upon its exercise (or shares of any security into which such Common Stock may be
converted) (the "Shares") are being acquired for investment and that the Holder
will not offer, sell, or otherwise dispose of this Warrant and any shares of
Common Stock to be issued upon its exercise (or shares of any security into
which such Common Stock may be converted) except under circumstances which will
not result in a violation of the Securities Act of 1933, as amended (the
"Securities Act").  Upon exercise of this Warrant, the Holder shall, if
requested by the Company, confirm in writing its investment purpose and
acceptance of the restrictions on transfer of the Shares.

       9.     REGISTRATION RIGHTS.

              (a)    Rights to Registration. If, at any time during the period
after the date of issuance of this Warrant and ending ten (10) years thereafter,
the Company shall determine to register under the Securities Act of 1933, as
amended, any shares of Stock to be offered for cash by it or others, pursuant to
a registration statement on Form S-I, S-2 or S-3 (or their equivalent), the
Company will (i) promptly give written notice to the holder of this Warrant of
its intention to file such registration statement and (ii) at the Company's
expense (which shall include, without limitation, all registration and filing
fees, printing expenses, fees and disbursements of counsel and independent
accountants for the Company, and fees and expenses incident to compliance with
state securities law, but shall not include fees and disbursements of counsel
for the holder of this Warrant) include among the securities covered by the
registration statement such portions of the Shares then held by the holder of
this Warrant as shall be specified in a written request to the Company within
thirty (30) days after the date on which the Company gave the notice described
in (a)(i) above. Upon receipt of such written request and of the Shares
specified in the request (any shareholder requesting registration being
individually called a "Selling Shareholder"), the Company shall (i) use its
reasonable best efforts to effect the registration, qualification or compliance
of the Shares under the Securities Act and under any other applicable federal
law and any applicable securities or blue sky laws of jurisdictions within the
United States; (ii) furnish each Selling Shareholder such number of copies of
the prospectus contained in the registration statement filed under the
Securities Act (including preliminary prospectus) in conformity with the
requirements of the Securities Act, and such other documents as the Selling
Shareholder may reasonably request in order to facilitate the disposition of the
Shares covered by the registration statement; (iii) notify each Selling
Shareholder, at any time when a prospectus relating to the Stock covered by such
registration statement is required to be delivered under the Securities Act,

                                         -3-
<PAGE>

of the happening of any event as a result of which the prospectus forming a part
of such registration statement, as then in effect, includes an untrue statement
of a material fat or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading; and (iv) at
the request of the Selling Shareholder, prepare and furnish to the Selling
Shareholder any reasonable number of copies of any supplement to or amendment of
such prospectus as may be necessary so that, as thereafter delivered to the
holder of this Warrant, such prospectus shall not include an untrue statement of
a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading.

              (b)    Registration of Underwritten Offering. If the offering of
securities to be registered by the Company is underwritten, each Selling
Shareholder shall sell the Shares to or through the underwriter(s) of the
securities being registered for the account of the Company or others upon the
same terms applicable to the Company or others.

              (c)    Indemnification. In the event that Shares purchased
pursuant to this Agreement are included in a registration statement under this
Section 9, the Company will indemnify and hold harmless each Selling Shareholder
and each other person, if any, who controls such Selling Shareholder within the
meaning of the Securities Act, against any losses, claims, damages or
liabilities, joint or several, to which such Selling Shareholder or controlling
person may become subject under the Securities Act or otherwise, insofar as such
losses, claims, damages or liabilities ( or actions in respect thereof) arise
out of are based upon any untrue statement or alleged untrue statement of any
material fact contained, on the effective date thereof, in any registration
statement pursuant to which the Shares were registered under the Securities Act,
any preliminary prospectus or final prospectus contained therein, or any
amendment or supplement thereto, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading, or arise out
of or are based upon the failure by the Company to file any amendment or
supplement thereto that was required to be filed under the Securities Act, and
will reimburse such Selling Shareholder and each such controlling person for any
legal or any other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action.
Notwithstanding the foregoing, the Company will not be liable in any such case
to the extent that any such loss, claim, damage, or liability arises out of or
is based upon an untrue statement or omission made in such registration
statement, preliminary prospectus, final prospectus or amendment or supplement
in reliance upon and in conformity with written information furnished to the
Company through an instrument duly executed by or on behalf of any Selling
Shareholder specifically for use in the preparation of sch registration
statement, preliminary prospectus, final prospectus, or amendment or supplement.
It shall be a condition precedent to the obligation of the Company to take any
action pursuant to this Section that the Company shall have received an
undertaking satisfactory to it from each Selling Shareholder to indemnify and
hold harmless the Company (in the same manner and to the same extent as set
forth in this Section), each director of the Company, each officer who shall
sign such registration statement, and any persons who control the Company within
the meaning of the Securities Act, with respect to any statement or omission
from such registration statement, preliminary prospectus, or any final
prospectus contained therein, or any amendment or supplement thereto, if such
statement or omission was made in reliance upon and

                                         -4-
<PAGE>

in conformity with written information furnished to the Company through an
instrument duly executed by the indemnifying party specifically for use in the
preparation of such registration statement, preliminary prospectus, final
prospectus, or amendment or supplement. Promptly following receipt by an
indemnified party of notice of the commencement of any action involving a claim
referred to above in this Section 9, such indemnified party will, if a claim in
respect thereof is to be made against an indemnifying party, give written notice
to the latter of the commencement of such action. In case any such action is
brought against an indemnified party, the indemnifying party will be entitled to
participate in and to assume the defense thereof, jointly with any other
indemnifying party similarly notified, to the extent that it may wish, with
counsel reasonably satisfactory to such indemnified party, and after notice from
 .the indemnifying party to such indemnified party of its election to assume the
defense thereof, the indemnifying party will not be liable to such indemnified
party for any legal or other expenses subsequently incurred by the latter in
connection with the defense thereof.

              (d)    Binding Provisions. The provisions of this Section 9 shall
be binding on the successors of the Company.

              (e)    Transfer of Registration Rights. The rights to cause the
Company to register the securities granted to the holder of this Warrant by the
Company under Section 9 may be assigned by the holder of this Warrant to a
transferee or assignee of any of the holder of this Warrant's Shares, provided
that the Company is given written notice by the holder of this Warrant at the
time of or within a reasonable time after said transfer, stating the name and
address of said transferee or assignee and indemnifying the securities with
respect to which such registration rights are being assigned.

       10.    SUBDIVISION OF WARRANT.  At the request of the holder of this
Warrant in connection with a transfer or exercise of a portion of the Warrant
and upon surrender of this Warrant for such purpose to the Company, the Company
at its expense (except for any transfer tax payable) will issue in exchange
warrants of like tenor and date representing in the aggregate the right to
purchase such number of shares of Common Stock as shall be designated by such
holder at the time of such surrender; provided, however, that the Company's
obligations to subdivide securities under this Section shall be subject to and
conditioned upon the compliance of any such subdivision with applicable state
securities laws and with the Securities Act.

       11.    NOTICES OF RECORD DATE.  In case:

              (a)    the Company shall take a record of the holders of its
Common Stock (or other stock or securities at the time receivable upon the
exercise of the Warrant) for the purpose of entitling them to receive any
dividend or other distribution, or any rights to subscribe for or purchase any
shares of stock of any class or any other securities, or to receive any other
right, or

              (b)    of any capital reorganization of the Company, any
reclassification of the capital stock of the Company, any consolidation or
merger of the Company with or into another corporation, or any conveyance of all
or substantially all of the assets of the Company to another corporation, or

                                         -5-
<PAGE>

              (c)    of any voluntary dissolution, liquidation or winding-up of
the Company;then, and in each such case, the Company will mail or cause to be
mailed to each holder of a Warrant at the time outstanding a notice specifying,
as the case may be, (i) the date on which a record is to be taken for the
purpose of such dividend, distribution or right, and stating the amount and
character of such dividend, distribution or right, or (ii) the date on which
such reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up is to take place, and the time, if any is
to be fixed, as of which the holders of record of Common Stock or such other
stock or securities at the time receivable upon the exercise of the Warrant
shall be entitled to exchange their shares of Common Stock (or such other stock
or securities) for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding-up.  Such notice shall be mailed at least 30
days prior to the date therein specified.

       12.    LOSS, THEFT, DESTRUCTION, OR MUTILATION OF WARRANT.  Upon receipt
by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction, or mutilation of this Warrant, and in the case of loss, theft, or
destruction, receipt of indemnity or security reasonably satisfactory to it and
reimbursement to the Company of all reasonable expenses incidental thereto, and
in the case of mutilation, upon surrender and cancellation of this Warrant, the
Company will make and deliver a new Warrant of like tenor and dates as of such
cancellation, in lieu of this Warrant.

       13.    MISCELLANEOUS.  This Warrant shall be governed by the laws of the
State of California.  The headings in this Warrant are for purposes of
convenience and reference only and shall not be deemed to constitute a part of
this Warrant.  Neither this Warrant nor any term included may be changed,
waived, discharged, or terminated orally but only by an instrument in writing
signed by the Company and the registered holder.  All notices and other
communications from the Company to the Holder shall be by telecopy or expedited
courier service to the  address furnished to the Company in writing by the last
holder of this Warrant who shall have furnished an address to the Company in
writing.

       14.    EXERCISE PERIOD.  The Exercise Period shall mean the period
commencing on February 8, 2000 and ending on February 8, 2005.

       ISSUED this 8th day of February, 2000.

                                   FINET.COM, INC.

                                   By:   /s/ GARY PALMER
                                      -------------------------------------

                                         -6-
<PAGE>

                                 FORM OF ASSIGNMENT
                                  FINET.COM, INC.

     FOR VALUE RECEIVED the undersigned registered owner of this Warrant
hereby sells, assigns, and transfers unto the Assignee named below all of the
rights of the undersigned under the within Warrant, with respect to the number
of shares of Common Stock set forth below:

NAME OF ASSIGNEE         ADDRESS        NUMBER OF SHARES

The undersigned does hereby irrevocably constitute and appoint _______________
_______________________ Attorney to make such transfer on the books of
FINET.COM, INC. maintained for the purpose, with full power of substitution in
the premises.

Dated:
      ------------------------

                         ----------------------------------------
                         Name of Warrant Holder

                         Signature:
                                 ------------------------------

Witness:
      ----------------------

<PAGE>

                                 SUBSCRIPTION FORM

                                  FINET.COM, INC.

                   (To be executed only upon exercise of Warrant)

     The undersigned registered owner of this Warrant irrevocably exercises
this Warrant for and purchases ________________ of the number of shares of
Common Stock of FINET.COM, INC. purchasable with this Warrant, and herewith
makes payment therefor, all at the price and on the terms and conditions
specified in this Warrant.

Dated:
      ---------------------

                              ---------------------------------
                              (Signature of Registered Owner)

                              ---------------------------------
                              (Street Address)

                              ---------------------------------
                              (City)      (State)    (Zip Code)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]