Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.23.2

 

BY-LAWS

OF

IMKI VENTURES, INC.,

a Delaware corporation

(the “Corporation”)

(Adopted as of August 29, 2007)

 

By-Laws – IMKI Ventures, Inc.

 

 

 

BY-LAWS

OF

IMKI VENTURES, INC.

ARTICLE I.

OFFICES

Section 1.1. Registered Office. The registered office of the Corporation within the State of
Delaware shall be located at either (a) the principal place of business of the Corporation in the
State of Delaware or (b) the office of the corporation or individual acting as the Corporation’s
registered agent in Delaware.

Section 1.2. Additional Offices. The Corporation may, in addition to its registered office in the
State of Delaware, have such other offices and places of business, both within and outside the
State of Delaware, as the Board of Directors of the Corporation (the “Board”) may, from time to
time, determine or as the business and affairs of the Corporation may require.

ARTICLE II.

STOCKHOLDERS MEETINGS

Section 2.1. Annual Meetings. Unless directors are elected by written consent in lieu of an annual
meeting as permitted by applicable law or an annual meeting is otherwise not required by applicable
law, an annual meeting of stockholders shall be held at such place and time and on such date as
shall be determined by the Board and stated in the notice of the meeting, provided that the Board
may, in its sole discretion, determine that the meeting shall not be held at any place, but may
instead be held solely by means of remote communication pursuant to Section 9.5(a). At
each annual meeting, the stockholders shall elect directors of the Corporation and may transact any
other business as may properly be brought before the meeting. Stockholders may, unless the
Corporation’s Certificate of Incorporation, as the same may be amended or restated from time to
time (the “Certificate of Incorporation”), provides otherwise, act by written consent to elect
directors; provided, however, that if such consent is less than unanimous, such action by written
consent may be in lieu of holding an annual meeting only if all of the directorships to which
directors could be elected at an annual meeting held at the effective time of such action are
vacant and are filled by such action.

Section 2.2. Special Meetings. Except as otherwise required by applicable law or provided in the
Certificate of Incorporation, special meetings of stockholders, for any purpose or purposes, may be
called only by the Chairman of the Board or the Chief Executive Officer, by the Board or by the
Secretary at the request in writing of stockholders holding shares representing a majority of the
voting power of the outstanding shares entitled to vote on the matter for which such meeting is to
be called. The Secretary shall call such a meeting upon receiving such a request. Special
meetings of stockholders shall be held at such place and time and on such date as shall be
determined by the Board and stated in the Corporation’s notice of the meeting, provided that the
Board may, in its sole discretion, determine that the meeting shall not be held at any place, but
may instead be held solely by means of remote communication pursuant to Section 9.5(a).

 

By-Laws — IMKI Ventures, Inc.

 

 

 

Exhibit 10.23.2

 

Section 2.3. Notices. Notice of each stockholders meeting stating the place, if any, date and time
of the meeting, and the means of remote communication, if any, by which stockholders and
proxyholders may be deemed to be present in person and vote at such meeting, shall be given in the
manner permitted by Section 9.3 to each stockholder entitled to vote thereat by the
Corporation not less than ten (10) nor more than sixty (60) days before the date of the meeting.
If said notice is for a stockholders meeting other than an annual meeting, it shall in addition
state the purpose or purposes for which the meeting is called, and the business transacted at such
meeting shall be limited to the matters so stated in the Corporation’s notice of meeting (or any
supplement thereto).

Section 2.4. Quorum. Except as otherwise provided by applicable law, the Certificate of
Incorporation or these By-Laws, the presence, in person or by proxy, at a stockholders meeting of
the holders of shares of outstanding capital stock of the Corporation representing a majority of
the voting power of all outstanding shares of capital stock of the Corporation entitled to vote at
such meeting shall constitute a quorum for the transaction of business at such meeting, except that
when specified business is to be voted on by a class or series of stock voting as a class, the
holders of shares representing a majority of the voting power of the outstanding shares of such
class or series shall constitute a quorum of such class or series for the transaction of such
business. If a quorum shall not be present at any meeting of the stockholders, the chairman of the
meeting or the stockholders entitled to vote thereat so present, by a majority in voting power
thereof, may adjourn the meeting, from time to time, in the manner provided in Section 2.6
until a quorum shall attend. The stockholders present at a duly convened meeting may continue to
transact business until adjournment, notwithstanding the withdrawal of enough stockholders to leave
less than a quorum. Shares of its own stock belonging to the Corporation or to another
corporation, if a majority of the voting power of the shares entitled to vote in the election of
directors of such other corporation is held, directly or indirectly, by the Corporation, shall
neither be entitled to vote nor be counted for quorum purposes; provided, however, that the
foregoing shall not limit the right of the Corporation or any such other corporation to vote shares
held by it in a fiduciary capacity.

Section 2.5. Voting of Shares.

(a) Voting Lists. The Secretary shall prepare, or shall cause the officer or agent
who has charge of the stock ledger of the Corporation to prepare, at least ten (10) days before
each meeting of stockholders, a complete list of the stockholders of record entitled to vote
thereat arranged in alphabetical order and showing the address and the number of shares registered
in the name of each stockholder. Nothing contained in this Section 2.5(a) shall require
the Corporation to include electronic mail addresses or other electronic contact information on
such list. Such list shall be open to the examination of any stockholder, for any purpose germane
to the meeting, during ordinary business hours for a period of at least ten (10) days prior to the
meeting: (i) on a reasonably accessible electronic network, provided that the information required
to gain access to such list is provided with the notice of the meeting, or (ii) during ordinary
business hours, at the principal place of business of the Corporation. In the event that the
Corporation determines to make the list available on an electronic network, the Corporation may
take reasonable steps to ensure that such information is available only to stockholders of the
Corporation. If the meeting is to be held at a place, then the list shall be produced and kept at
the time and place of the meeting during the whole time thereof, and may be inspected by any
stockholder who is present. If a meeting of stockholders is to be held solely by means of
remote communication as permitted by Section 9.5(a), the list shall be open to the
examination of any stockholder during the whole time of the meeting on a reasonably accessible
electronic network, and the information required to access such list shall be provided with the
notice of meeting. The stock ledger shall be the only evidence as to who are the stockholders
entitled to examine the list required by this Section 2.5(a) or to vote in person or by
proxy at any meeting of stockholders.

 

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Exhibit 10.23.2

 

(b) Manner of Voting. At any stockholders meeting, every stockholder entitled to vote
may vote in person or by proxy. If authorized by the Board, the voting by stockholders or
proxyholders at any meeting conducted by remote communication may be effected by a ballot submitted
by electronic transmission (as defined in Section 9.3(c)), provided that any such
electronic transmission must either set forth, or be submitted with, information from which the
Corporation can determine that the electronic transmission was authorized by the stockholder or
proxyholder. The Board, in its discretion, or the chairman of the meeting of stockholders, in such
person’s discretion, may require that any votes cast at such meeting shall be cast by written
ballot.

(c) Proxies. Each stockholder entitled to vote at a meeting of stockholders or to
express consent or dissent to corporate action in writing without a meeting may authorize another
person or persons to act for such stockholder by proxy, but no such proxy shall be voted or acted
upon after three years from its date, unless the proxy provides for a longer period. Proxies need
not be filed with the Secretary until the meeting is called to order, but shall be filed with the
Secretary before being voted. Without limiting the manner in which a stockholder may authorize
another person or persons to act for such stockholder as proxy, either of the following shall
constitute a valid means by which a stockholder may grant such authority:

(i) A stockholder may execute a writing authorizing another person or persons to act
for such stockholder as proxy. Execution may be accomplished by the stockholder or such
stockholder’s authorized officer, director, employee or agent signing such writing or
causing such person’s signature to be affixed to such writing by any reasonable means,
including, but not limited to, by facsimile signature.

(ii) A stockholder may authorize another person or persons to act for such stockholder
as proxy by transmitting or authorizing the transmission of an electronic transmission to
the person who will be the holder of the proxy, provided that any such electronic
transmission must either set forth, or be submitted with, information from which it can be
determined that the electronic transmission was authorized by the stockholder.

Any copy, facsimile telecommunication or other reliable reproduction of the writing or transmission
authorizing another person or persons to act as proxy for a stockholder may be substituted or used
in lieu of the original writing or transmission for any and all purposes for which the original
writing or transmission could be used; provided that such copy, facsimile telecommunication or
other reproduction shall be a complete reproduction of the entire original writing or transmission.

 

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Exhibit 10.23.2

 

(d) Required Vote. Subject to the rights of the holders of one or more series of
preferred stock of the Corporation (“Preferred Stock”), voting separately by class or series, to
elect directors pursuant to the terms of one or more series of Preferred Stock, the election of
directors shall be determined by a plurality of the votes cast by the stockholders present in
person or represented by proxy at the meeting and entitled to vote thereon. All other matters
shall be determined by the vote of a majority of the votes cast by the stockholders present in
person or represented by proxy at the meeting and entitled to vote thereon, unless the matter is
one upon which, by applicable law, the Certificate of Incorporation or these By-Laws, a different
vote is required, in which case such provision shall govern and control the decision of such
matter.

(e) Inspectors of Election. The Board may, and shall if required by law, in advance
of any meeting of stockholders, appoint one or more persons as inspectors of election, who may be
employees of the Corporation or otherwise serve the Corporation in other capacities, to act at such
meeting of stockholders or any adjournment thereof and to make a written report thereof. The Board
may appoint one or more persons as alternate inspectors to replace any inspector who fails to act.
If no inspectors of election or alternates are appointed by the Board, the chairman of the meeting
shall appoint one or more inspectors to act at the meeting. Each inspector, before discharging his
or her duties, shall take and sign an oath faithfully to execute the duties of inspector with
strict impartiality and according to the best of his or her ability. The inspectors shall
ascertain and report the number of outstanding shares and the voting power of each; determine the
number of shares present in person or represented by proxy at the meeting and the validity of
proxies and ballots; count all votes and ballots and report the results; determine and retain for a
reasonable period a record of the disposition of any challenges made to any determination by the
inspectors; and certify their determination of the number of shares represented at the meeting and
their count of all votes and ballots. No person who is a candidate for an office at an election
may serve as an inspector at such election. Each report of an inspector shall be in writing and
signed by the inspector or by a majority of them if there is more than one inspector acting at such
meeting. If there is more than one inspector, the report of a majority shall be the report of the
inspectors.

Section 2.6. Adjournments. Any meeting of stockholders, annual or special, may be adjourned by the
chairman of the meeting or by the stockholders present and entitled to vote thereat, by a majority
in voting power thereof, from time to time, whether or not there is a quorum, to reconvene at the
same or some other place. Notice need not be given of any such adjourned meeting if the date,
time, place, if any, thereof, and the means of remote communication, if any, by which stockholders
and proxyholders may be deemed to be present in person and vote at such adjourned meeting are
announced at the meeting at which the adjournment is taken. At the adjourned meeting the
stockholders, or the holders of any class or series of stock entitled to vote separately as a
class, as the case may be, may transact any business that might have been transacted at the
original meeting. If the adjournment is for more than thirty (30) days, or if after the
adjournment a new record date is fixed for the adjourned meeting, notice of the adjourned meeting
shall be given to each stockholder of record entitled to vote at the meeting.

 

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Exhibit 10.23.2

 

Section 2.7. Conduct of Meetings. The chairman of each annual and special meeting of stockholders
shall be the Chairman of the Board or, in the absence (or inability or refusal to act) of the
Chairman of the Board, the Chief Executive Officer (if he or she shall be a director)
or, in the absence (or inability or refusal to act) of the Chief Executive Officer, or if the Chief
Executive Officer is not a director, the President (if he or she shall be a director) or, in the
absence (or inability or refusal to act) of the President or if the President is not a director,
such other person as shall be appointed by the Board, or in the absence of such appointment, a
chairman chosen at the meeting. The date and time of the opening and the closing of the polls for
each matter upon which the stockholders will vote at a meeting shall be announced at the meeting by
the chairman of the meeting. The Board may adopt such rules and regulations for the conduct of the
meeting of stockholders as it shall deem appropriate. Except to the extent inconsistent with these
By-Laws or such rules and regulations as adopted by the Board, the chairman of any meeting of
stockholders shall have the right and authority to convene and to adjourn the meeting, to prescribe
such rules, regulations and procedures and to do all such acts as, in the judgment of such
chairman, are appropriate for the proper conduct of the meeting. Unless and to the extent
determined by the Board or the chairman of the meeting, meetings of stockholders shall not be
required to be held in accordance with the rules of parliamentary procedure. The secretary of each
annual and special meeting of stockholders shall be the Secretary or, in the absence (or inability
or refusal to act) of the Secretary, an Assistant Secretary so appointed to act by the chairman of
the meeting. In the absence (or inability or refusal to act) of the Secretary and all Assistant
Secretaries, the chairman of the meeting may appoint any person to act as secretary of the meeting.

Section 2.8. Consents in Lieu of Meeting. Unless otherwise provided by the Certificate of
Incorporation, any action required or permitted to be taken at any annual or special meeting of
stockholders may be taken without a meeting, without prior notice and without a vote, if a consent
or consents in writing, setting forth the action so taken, shall be signed by the holders of
outstanding stock having not less than the minimum voting power that would be necessary to
authorize or take such action at a meeting at which all shares entitled to vote thereon were
present and voted and shall be delivered to the Corporation to its registered office in the State
of Delaware, the Corporation’s principal place of business or the Secretary. Every written consent
shall bear the date of signature of each stockholder who signs the consent and no written consent
shall be effective to take the corporate action referred to therein unless, within 60 days of the
date the earliest dated consent is delivered to the Corporation, a written consent or consents
signed by a sufficient number of holders to take such action are delivered to the Corporation by
delivery to the Corporation’s registered office in the State of Delaware, the Corporation’s
principal place of business or the Secretary. Delivery made to the Corporation’s registered office
shall be by hand or by certified or registered mail, return receipt requested. An electronic
transmission consenting to the action to be taken and transmitted by a stockholder, proxyholder or
a person or persons authorized to act for a stockholder or proxyholder shall be deemed to be
written, signed and dated for purposes hereof if such electronic transmission sets forth, or is
delivered with, information from which the Corporation can determine that such transmission was
transmitted by a stockholder or proxyholder (or by a person authorized to act for a stockholder or
proxyholder) and the date on which such stockholder, proxyholder or authorized person transmitted
such transmission. The date on which such electronic transmission is transmitted shall be deemed
to be the date on which such consent was signed. No consent given by electronic transmission shall
be deemed to have been delivered until such consent is reproduced in paper form and delivered to
the Corporation by delivery either to the Corporation’s registered office in the State of Delaware,
the Corporation’s principal place of business or the Secretary. Delivery made to the Corporation’s
registered office shall be made by hand or by
certified or registered mail, return receipt requested.

 

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Exhibit 10.23.2

 

Notwithstanding the limitations on
delivery in the previous sentence, consents given by electronic transmission may be otherwise
delivered to the Corporation’s principal place of business or to the Secretary if, to the extent
and in the manner provided by resolution of the Board. Any copy, facsimile or other reliable
reproduction of a consent in writing may be substituted or used in lieu of the original writing for
any and all purposes for which the original writing could be used; provided that such copy,
facsimile or other reproduction shall be a complete reproduction of the entire original writing.
Prompt notice of the taking of the corporate action without a meeting by less than unanimous
written consent shall be given to those stockholders who have not consented in writing and who, if
the action had been taken at a meeting, would have been entitled to notice of the meeting if the
record date for such meeting had been the date that written consents signed by a sufficient number
of holders were delivered to the Corporation as provided in this Section 2.8.

ARTICLE III.

DIRECTORS

Section 3.1. Powers. The business and affairs of the Corporation shall be managed by or under the
direction of the Board, which may exercise all such powers of the Corporation and do all such
lawful acts and things as are not by statute or by the Certificate of Incorporation or by these
By-Laws required to be exercised or done by the stockholders. Directors need not be stockholders
or residents of the State of Delaware.

Section 3.2. Number; Term. The number of directors of the Corporation initially shall be one (1).
Thereafter, the number of directors, other than those who may be elected by the holders of one or
more series of Preferred Stock voting separately by class or series, may be determined, from time
to time, by the Board, but no decrease in such number shall have the effect of shortening the term
of any incumbent director. Except as otherwise provided in the Certificate of Incorporation, the
directors shall be elected at the annual meeting of stockholders to hold office until the next
succeeding annual meeting of stockholders. Each director shall hold office for the term for which
such director is elected and until his or her successor shall have been elected and qualified,
subject to such director’s earlier death, resignation, retirement, disqualification or removal.

Section 3.3. Newly Created Directorships and Vacancies. Except as otherwise provided in the
Certificate of Incorporation, vacancies resulting from death, resignation, retirement,
disqualification, removal or other cause and newly created directorships resulting from an increase
in the number of directors elected by all of the stockholders having the right to vote as a single
class may be filled by a majority vote of the directors then in office, even if less than a quorum,
by a sole remaining director, or by the stockholders. Except as otherwise provided in the
Certificate of Incorporation, if the holders of any class or classes of stock or series thereof are
entitled to elect one or more directors by the Certificate of Incorporation, vacancies and newly
created directorships of such class or classes or series may be filled only by a majority of the
directors elected by such class or classes or series thereof then in office, by a sole remaining
director so elected, or by the stockholders of such class or classes or series thereof. Except as
otherwise provided in the Certificate of Incorporation, any director elected or chosen in
accordance with this Section 3.3 shall hold office until the next annual election of
directors and until his or her successor shall have been elected and qualified, subject to such
director’s earlier death, resignation, retirement, disqualification or removal.

 

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Exhibit 10.23.2

 

Section 3.4. Compensation. Unless otherwise restricted by the Certificate of Incorporation or
these By-Laws, the Board shall have the authority to fix the compensation of directors. The
directors may be reimbursed their expenses, if any, of attendance at each meeting of the Board and
may be paid either a fixed sum for attendance at each meeting of the Board or other compensation as
director. No such payment shall preclude any director from serving the Corporation in any other
capacity and receiving compensation therefor. Members of committees of the Board may be allowed
like compensation and reimbursement of expenses for attending committee meetings.

ARTICLE IV.

BOARD MEETINGS

Section 4.1. Annual Meetings. The Board shall meet as soon as practicable after the adjournment of
each annual stockholders meeting at the place of the annual stockholders meeting unless the Board
shall fix another time and place and give notice thereof in the manner required herein for special
meetings of the Board. No notice to the directors shall be necessary to legally convene this
meeting, except as provided in this Section 4.1.

Section 4.2. Regular Meetings. Regularly scheduled, periodic meetings of the Board may be held
without notice at such times, dates and places as shall, from time to time, be determined by the
Board.

Section 4.3. Special Meetings. Special meetings of the Board (a) may be called by the Chairman of
the Board or Chief Executive Officer and (b) shall be called by the Chairman of the Board, Chief
Executive Officer or Secretary on the written request of a majority of directors then in office, or
the sole director, as the case may be, and shall be held at such time, date and place as may be
determined by the person calling the meeting or, if called upon the request of directors or the
sole director, as specified in such written request. Notice of each special meeting of the Board
shall be given, as provided in Section 9.3, to each director (i) at least twenty-four (24)
hours before the meeting if such notice is oral notice given personally or by telephone or written
notice given by hand delivery or by means of a form of electronic transmission and delivery; (ii)
at least two (2) days before the meeting if such notice is sent by a nationally recognized
overnight delivery service; and (iii) at least five (5) days before the meeting if such notice is
sent through the United States mail. If the Secretary shall fail or refuse to give such notice,
then the notice may be given by the officer who called the meeting or the directors who requested
the meeting. Any and all business that may be transacted at a regular meeting of the Board may be
transacted at a special meeting. Except as may be otherwise expressly provided by applicable law,
the Certificate of Incorporation or these By-Laws, neither the business to be transacted at, nor
the purpose of, any special meeting need be specified in the notice or waiver of notice of such
meeting. A special meeting may be held at any time without notice if all the directors are present
or if those not present waive notice of the meeting in accordance with Section 9.4.

 

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Exhibit 10.23.2

 

Section 4.4. Quorum; Required Vote. A majority of the Board, but in any event not less than one-third of the
Whole Board (as defined below), shall constitute a quorum for the transaction of business at any
meeting of the Board, and the act of a majority of the directors present at any meeting at which
there is a quorum shall be the act of the Board, except as may be otherwise specifically provided
by applicable law, the Certificate of Incorporation or these By-Laws. If a quorum shall not be
present at any meeting, a majority of the directors present may adjourn the meeting, from time to
time, without notice other than announcement at the meeting, until a quorum is present. “Whole
Board” shall mean the total number of directors that the Corporation would have if there were no
vacancies.

Section 4.5. Consent In Lieu of Meeting. Unless otherwise restricted by the Certificate of
Incorporation or these By-Laws, any action required or permitted to be taken at any meeting of the
Board or any committee thereof may be taken without a meeting if all members of the Board or
committee, as the case may be, consent thereto in writing or by electronic transmission, and the
writing or writings or electronic transmission or transmissions (or paper reproductions thereof)
are filed with the minutes of proceedings of the Board or committee. Such filing shall be in paper
form if the minutes are maintained in paper form and shall be in electronic form if the minutes are
maintained in electronic form.

Section 4.6. Organization. The chairman of each meeting of the Board shall be the Chairman of the
Board or, in the absence (or inability or refusal to act) of the Chairman of the Board, the Chief
Executive Officer (if he or she shall be a director) or, in the absence (or inability or refusal to
act) of the Chief Executive Officer or if the Chief Executive Officer is not a director, the
President (if he or she shall be a director) or in the absence (or inability or refusal to act) of
the President or if the President is not a director, a chairman elected from the directors present.
The Secretary shall act as secretary of all meetings of the Board. In the absence (or inability or
refusal to act) of the Secretary, an Assistant Secretary shall perform the duties of the Secretary
at such meeting. In the absence (or inability or refusal to act) of the Secretary and all
Assistant Secretaries, the chairman of the meeting may appoint any person to act as secretary of
the meeting.

ARTICLE V.

COMMITTEES OF DIRECTORS

Section 5.1. Establishment. The Board may designate one or more committees, each committee to
consist of one or more of the directors of the Corporation. Each committee shall keep regular
minutes of its meetings and report the same to the Board when required. The Board shall have the
power at any time to fill vacancies in, to change the membership of or to dissolve any such
committee.

Section 5.2. Available Powers. Any committee established pursuant to Section 5.1 hereof,
to the extent permitted by applicable law and by resolution of the Board, shall have, and may
exercise, all of the powers and authority of the Board in the management of the business and
affairs of the Corporation, and may authorize the seal of the Corporation to be affixed to all
papers that may require it.

 

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Exhibit 10.23.2

 

Section 5.3. Alternate Members. The Board may designate one or more directors as alternate members
of any committee, who may replace any absent or disqualified member at any meeting of such
committee.

Section 5.4. Procedures. Unless the Board otherwise provides, the time, date, place, if any, and
notice of meetings of a committee shall be determined by such committee. At meetings of a
committee, a majority of the number of members of the committee (but not including any alternate
member, unless such alternate member has replaced any absent or disqualified member at the time of,
or in connection with, such meeting) shall constitute a quorum for the transaction of business.
The act of a majority of the members present at any meeting at which a quorum is present shall be
the act of the committee, except as otherwise specifically provided by applicable law, the
Certificate of Incorporation, these By-Laws or the Board. If a quorum is not present at a meeting
of a committee, the members present may adjourn the meeting, from time to time, without notice
other than an announcement at the meeting, until a quorum is present. Unless the Board otherwise
provides and except as provided in these By-Laws, each committee designated by the Board may make,
alter, amend and repeal rules for the conduct of its business. In the absence of such rules, each
committee shall conduct its business in the same manner as the Board is authorized to conduct its
business pursuant to Article III and Article IV of these By-Laws.

ARTICLE VI.

OFFICERS

Section 6.1. Officers. The officers of the Corporation elected by the Board shall be a Chairman of
the Board, a Chief Executive Officer, a President, a Treasurer, a Secretary and such other officers
(including, without limitation, a Chief Financial Officer, Vice Presidents, Assistant Secretaries
and Assistant Treasurers) as the Board, from time to time, may determine. Officers elected by the
Board shall each have such powers and duties as generally pertain to their respective offices,
subject to the specific provisions of this Article VI. Such officers also shall have such
powers and duties as, from time to time, may be conferred by the Board. The Chairman of the Board,
Chief Executive Officer or President also may appoint such other officers (including, without
limitation, one or more Vice Presidents and Controllers) as may be necessary or desirable for the
conduct of the business of the Corporation. Such other officers shall have such powers and duties
and shall hold their offices for such terms as may be provided in these By-Laws or as may be
prescribed by the Board or, if such officer has been appointed by the Chairman of the Board, Chief
Executive Officer or President, as may be prescribed by the appointing officer.

(a) Chairman of the Board. The Chairman of the Board shall preside, when present, at
all meetings of the stockholders and the Board. The Chairman of the Board shall advise and counsel
the Chief Executive Officer and other officers and shall exercise such powers and perform such
duties as shall be assigned to, or required of, the Chairman of the Board, from time to time, by
the Board or these By-Laws.

(b) Chief Executive Officer. The Chief Executive Officer shall be the chief executive
officer of the Corporation, shall have general supervision of the affairs of the Corporation and
general control of all of its business subject to the ultimate authority of the
Board, and shall be responsible for the execution of the policies of the Board. In the
absence (or inability or refusal to act) of the Chairman of the Board, the Chief Executive Officer
(if he or she shall be a director) shall preside, when present, at all meetings of the stockholders
and the Board.

 

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Exhibit 10.23.2

 

(c) President. The President shall be the chief operating officer of the Corporation
and shall, subject to the authority of the Chief Executive Officer and the Board, have general
management and control of the day-to-day business operations of the Corporation and shall consult
with, and report to, the Chief Executive Officer. The President shall put into operation the
business policies of the Corporation as determined by the Chief Executive Officer and the Board and
as communicated to the President by the Chief Executive Officer and the Board. The President shall
make recommendations to the Chief Executive Officer on all operational matters that would normally
be reserved for the final executive responsibility of the Chief Executive Officer. In the absence
(or inability or refusal to act) of the Chairman of the Board and Chief Executive Officer, the
President (if he or she shall be a director) shall preside, when present, at all meetings of the
stockholders and the Board.

(d) Vice Presidents. In the absence (or inability or refusal to act) of the
President, the Vice President (or in the event there be more than one Vice President, the Vice
Presidents in the order designated by the Board) shall perform the duties and have the powers of
the President. Any one or more of the Vice Presidents may be given an additional designation of
rank or function.

(e) Secretary.

(i) The Secretary shall attend all meetings of the stockholders, the Board and (as
required) committees of the Board and shall record the proceedings of such meetings in books
to be kept for that purpose. The Secretary shall give, or cause to be given, notice of all
meetings of the stockholders and special meetings of the Board and shall perform such other
duties as may be prescribed by the Board, the Chairman of the Board, Chief Executive Officer
or President. The Secretary shall have custody of the corporate seal of the Corporation and
the Secretary, or any Assistant Secretary, shall have authority to affix the same to any
instrument requiring it, and when so affixed, it may be attested by his or her signature or
by the signature of such Assistant Secretary. The Board may give general authority to any
other officer to affix the seal of the Corporation and to attest the affixing thereof by his
or her signature.

(ii) The Secretary shall keep, or cause to be kept, at the principal executive office
of the Corporation or at the office of the Corporation’s transfer agent or registrar, if one
has been appointed, a stock ledger, or duplicate stock ledger, showing the names of the
stockholders and their addresses, the number and classes of shares held by each and, with
respect to certificated shares, the number and date of certificates issued for the same and
the number and date of certificates cancelled.

(f) Assistant Secretaries. The Assistant Secretary or, if there be more than one, the
Assistant Secretaries in the order determined by the Board, shall, in the absence (or inability or
refusal to act) of the Secretary, perform the duties and have the powers of the Secretary.

 

By-Laws — IMKI Ventures, Inc.

 

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Exhibit 10.23.2

 

(g) Treasurer. The Treasurer shall perform all duties commonly incident to that
office (including, without limitation, the care and custody of the funds and securities of the
Corporation, which, from time to time, may come into the Treasurer’s hands and the deposit of the
funds of the Corporation in such banks or trust companies as the Board, the Chief Executive Officer
or the President may authorize).

(h) Assistant Treasurers. The Assistant Treasurer or, if there shall be more than
one, the Assistant Treasurers in the order determined by the Board, shall, in the absence (or
inability or refusal to act) of the Treasurer, perform the duties and exercise the powers of the
Treasurer.

Section 6.2. Term of Office; Removal; Vacancies. The elected officers of the Corporation shall be
elected annually by the Board at its first meeting held after each annual meeting of stockholders.
All officers elected by the Board shall hold office until the next annual meeting of the Board and
until their successors are duly elected and qualified or until their earlier death, resignation,
retirement, disqualification or removal from office. Any officer may be removed, with or without
cause, at any time by the Board. Any officer appointed by the Chairman of the Board, Chief
Executive Officer or President also may be removed, with or without cause, by the Chairman of the
Board, Chief Executive Officer or President, as the case may be, unless the Board otherwise
provides. Any vacancy occurring in any elected office of the Corporation may be filled by the
Board. Any vacancy occurring in any office appointed by the Chairman of the Board, Chief Executive
Officer or President may be filled by the Chairman of the Board, Chief Executive Officer or
President, as the case may be, unless the Board then determines that such office shall thereupon be
elected by the Board, in which case the Board shall elect such officer.

Section 6.3. Other Officers. The Board may delegate the power to appoint such other officers and
agents, and also may remove such officers and agents or delegate the power to remove same, as it
shall, from time to time, deem necessary or desirable.

Section 6.4. Multiple Officeholders; Stockholder and Director Officers. Any number of offices may
be held by the same person unless the Certificate of Incorporation or these By-Laws otherwise
provide. Officers need not be stockholders or residents of the State of Delaware.

ARTICLE VII.

SHARE CERTIFICATES

Section 7.1. Entitlement to Certificates. The shares of the Corporation shall be represented by
certificates, provided that the Board may provide by resolution or resolutions that some or all of
any or all classes or series of its stock shall be uncertificated shares. Any such resolution
shall not apply to shares represented by a certificate until such certificate is surrendered to the
Corporation. Notwithstanding the adoption of such a resolution by the Board, every holder of stock
represented by certificates and, upon request, every holder of uncertificated shares shall be
entitled to have a certificate signed in accordance with Section 7.3 representing the
number of shares registered in certificate form. The Corporation shall not have power to issue a
certificate representing shares in bearer form.

 

By-Laws — IMKI Ventures, Inc.

 

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Exhibit 10.23.2

 

Section 7.2. Multiple Classes of Stock. If the Corporation shall be authorized to issue more than
one class of stock or more than one series of any class, the Corporation shall (a) cause the
powers, designations, preferences and relative, participating, optional or other special rights of
each class of stock or series thereof and the qualifications, limitations or restrictions of such
preferences or rights to be set forth in full or summarized on the face or back of any certificate
that the Corporation issues to represent shares of such class or series of stock or (b) in the case
of uncertificated shares, within a reasonable time after the issuance or transfer of such shares,
send to the registered owner thereof a written notice containing the information required to be set
forth on certificates as specified in clause (a) above; provided, however, that, except as
otherwise provided by applicable law, in lieu of the foregoing requirements, there may be set forth
on the face or back of such certificate or, in the case of uncertificated shares, on such written
notice a statement that the Corporation will furnish without charge to each stockholder who so
requests the powers, designations, preferences and relative, participating, optional or other
special rights of each class of stock or series thereof and the qualifications, limitations or
restrictions of such preferences or rights.

Section 7.3. Signatures. Each certificate representing capital stock of the Corporation shall be
signed by, or in the name of, the Corporation by (a) the Chairman of the Board, the Chief Executive
Officer, the President or a Vice President and (b) the Treasurer, an Assistant Treasurer, the
Secretary or an Assistant Secretary of the Corporation. Any or all the signatures on the
certificate may be a facsimile. In case any officer, transfer agent or registrar who has signed or
whose facsimile signature has been placed upon a certificate shall have ceased to be such officer,
transfer agent or registrar before such certificate is issued, such certificate may be issued by
the Corporation with the same effect as if such person were such officer, transfer agent or
registrar on the date of issue.

Section 7.4. Consideration and Payment for Shares.

(a) Subject to applicable law and the Certificate of Incorporation, shares of stock may be
issued for such consideration, having in the case of shares with par value a value not less than
the par value thereof, and to such persons, as determined, from time to time, by the Board. The
consideration may consist of any tangible or intangible property or benefit to the Corporation,
including cash, promissory notes, services performed, contracts for services to be performed or
other securities.

(b) Subject to applicable law and the Certificate of Incorporation, shares may not be issued
until the full amount of the consideration has been paid, unless upon the face or back of each
certificate issued to represent any partly paid shares of capital stock or upon the books and
records of the Corporation in the case of partly paid uncertificated shares, there shall have been
set forth the total amount of the consideration to be paid therefor and the amount paid thereon up
to and including the time said certificate representing certificated shares or said uncertificated
shares are issued.

 

By-Laws — IMKI Ventures, Inc.

 

12

 

Exhibit 10.23.2

 

Section 7.5.

Lost, Destroyed or Wrongfully Taken Certificates.

(a) If an owner of a certificate representing shares claims that such certificate has been
lost, destroyed or wrongfully taken, the Corporation shall issue a new certificate representing
such shares or such shares in uncertificated form if the owner: (i) requests such a new certificate
before the Corporation has notice that the certificate representing such shares has been acquired
by a protected purchaser; (ii) if requested by the Corporation, delivers to the Corporation a bond
sufficient to indemnify the Corporation against any claim that may be made against the Corporation
on account of the alleged loss, wrongful taking or destruction of such certificate or the issuance
of such new certificate or uncertificated shares; and (iii) satisfies other reasonable requirements
imposed by the Corporation.

(b) If a certificate representing shares has been lost, apparently destroyed or wrongfully
taken, and the owner fails to notify the Corporation of that fact within a reasonable time after
the owner has notice of such loss, apparent destruction or wrongful taking and the Corporation
registers a transfer of such shares before receiving notification, the owner shall be precluded
from asserting against the Corporation any claim for registering such transfer or a claim to a new
certificate representing such shares or such shares in uncertificated form.

Section 7.6. Transfer of Stock.

(a) If a certificate representing shares of the Corporation is presented to the Corporation
with an endorsement requesting the registration of transfer of such shares or an instruction is
presented to the Corporation requesting the registration of transfer of uncertificated shares, the
Corporation shall register the transfer as requested if:

(i) in the case of certificated shares, the certificate representing such shares has
been surrendered;

(ii) (A) with respect to certificated shares, the endorsement is made by the person
specified by the certificate as entitled to such shares; (B) with respect to uncertificated
 shares, an instruction is made by the registered owner of such uncertificated shares; or (C)
with respect to certificated shares or uncertificated shares, the endorsement or instruction
is made by any other appropriate person or by an agent who has actual authority to act on
behalf of the appropriate person;

(iii) the Corporation has received a guarantee of signature of the person signing such
endorsement or instruction or such other reasonable assurance that the endorsement or
instruction is genuine and authorized as the Corporation may request;

(iv) the transfer does not violate any restriction on transfer imposed by the
Corporation that is enforceable in accordance with Section 7.8(a); and

(v) such other conditions for such transfer as shall be provided for under applicable
law have been satisfied.

 

By-Laws — IMKI Ventures, Inc.

 

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Exhibit 10.23.2

 

(b) Whenever any transfer of shares shall be made for collateral security and not absolutely, the
Corporation shall so record such fact in the entry of transfer if, when the certificate for such
shares is presented to the Corporation for transfer or, if such shares are uncertificated, when the
instruction for registration of transfer thereof is presented to the Corporation, both the
transferor and transferee request the Corporation to do so.

Section 7.7. Registered Stockholders. Before due presentment for registration of transfer of a
certificate representing shares of the Corporation or of an instruction requesting registration of
transfer of uncertificated shares, the Corporation may treat the registered owner as the person
exclusively entitled to inspect, for any proper purpose, the stock ledger and the other books and
records of the Corporation, vote such shares, receive dividends or notifications with respect to
such shares and otherwise exercise all the rights and powers of the owner of such shares, except
that a person who is the beneficial owner of such shares (if held in a voting trust or by a nominee
on behalf of such person) may, upon providing documentary evidence of beneficial ownership of such
shares and satisfying such other conditions as are provided under applicable law, also may so
inspect the books and records of the Corporation.

Section 7.8. Effect of the Corporation’s Restriction on Transfer.

(a) A written restriction on the transfer or registration of transfer of shares of the
Corporation or on the amount of shares of the Corporation that may be owned by any person or group
of persons, if permitted by the DGCL and noted conspicuously on the certificate representing such
shares or, in the case of uncertificated shares, contained in a notice sent by the Corporation to
the registered owner of such shares within a reasonable time after the issuance or transfer of such
shares, may be enforced against the holder of such shares or any successor or transferee of the
holder including an executor, administrator, trustee, guardian or other fiduciary entrusted with
like responsibility for the person or estate of the holder.

(b) A restriction imposed by the Corporation on the transfer or the registration of shares of
the Corporation or on the amount of shares of the Corporation that may be owned by any person or
group of persons, even if otherwise lawful, is ineffective against a person without actual
knowledge of such restriction unless: (i) the shares are certificated and such restriction is noted
conspicuously on the certificate; or (ii) the shares are uncertificated and such restriction was
contained in a notice sent by the Corporation to the registered owner of such shares within a
reasonable time after the issuance or transfer of such shares.

Section 7.9. Regulations. The Board shall have the power and authority to make such additional
rules and regulations, subject to any applicable requirement of law, as the Board may deem
necessary and appropriate with respect to the issuance, transfer or registration of transfer of
shares of stock or certificates representing shares. The Board may appoint one or more transfer
agents or registrars and may require for the validity thereof that certificates representing shares
bear the signature of any transfer agent or registrar so appointed.

 

By-Laws — IMKI Ventures, Inc.

 

14

 

Exhibit 10.23.2

 

ARTICLE VIII.

INDEMNIFICATION

Section 8.1. Right to Indemnification. Each person who was or is made a party, or is threatened to
be made a party, to or is otherwise involved in any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or investigative (hereinafter a
"proceeding”), by reason of the fact that he or she is or was a director or officer of the
Corporation or, while a director or officer of the Corporation, is or was serving at the request of
the Corporation as a director, officer, employee or agent of another corporation or of a
partnership, joint venture, trust or other enterprise, including service with respect to an
employee benefit plan (hereinafter a “Covered Person”), whether the basis of such proceeding is
alleged action in an official capacity as a director, officer, employee or agent, or in any other
capacity while serving as a director, officer, employee or agent, shall be indemnified and held
harmless by the Corporation to the fullest extent authorized or permitted by applicable law, as the
same exists or may hereafter be amended, against all expense, liability and loss (including,
without limitation, attorneys’ fees, judgments, fines, ERISA excise taxes and penalties and amounts
paid in settlement) reasonably incurred or suffered by such Covered Person in connection with such
proceeding; provided, however, that, except as provided in Section 8.3 with respect to
proceedings to enforce rights to indemnification, the Corporation shall indemnify a Covered Person
in connection with a proceeding (or part thereof) initiated by such Covered Person only if such
proceeding (or part thereof) was authorized by the Board.

Section 8.2. Right to Advancement of Expenses. In addition to the right to indemnification
conferred in Section 8.1, a Covered Person also shall have the right to be paid by the
Corporation the expenses (including, without limitation, attorneys’ fees) incurred in defending,
testifying or otherwise participating in any such proceeding in advance of its final disposition
(hereinafter an “advancement of expenses”); provided, however, that, if the Delaware General
Corporation Law (“DGCL”) requires, an advancement of expenses incurred by a Covered Person in his
or her capacity as a director or officer of the Corporation (and not in any other capacity in which
service was or is rendered by such Covered Person, including, without limitation, service to an
employee benefit plan) shall be made only upon delivery to the Corporation of an undertaking
(hereinafter an “undertaking”), by or on behalf of such Covered Person, to repay all amounts so
advanced if it shall ultimately be determined by final judicial decision from which there is no
further right to appeal (hereinafter a “final adjudication”) that such Covered Person is not
entitled to be indemnified for such expenses under this Article VIII or otherwise.

Section 8.3. Right of Indemnitee to Bring Suit. If a claim under Section 8.1 or
Section 8.2 is not paid in full by the Corporation within sixty (60) days after a written
claim therefor has been received by the Corporation, except in the case of a claim for an
advancement of expenses, in which case the applicable period shall be twenty (20) days, the Covered
Person may at any time thereafter bring suit against the Corporation to recover the unpaid amount
of the claim. If successful, in whole or in part, in any such suit, or in a suit brought by the
Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the
Covered Person also shall be entitled to be paid the expense of prosecuting or defending such suit.

 

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Exhibit 10.23.2

 

In (a) any suit brought by the Covered Person to enforce a right to indemnification hereunder (but
not in a suit brought by a Covered Person to enforce a right to an advancement of expenses) it
shall
be a defense that, and (b) in any suit brought by the Corporation to recover an advancement of
expenses pursuant to the terms of an undertaking, the Corporation shall be entitled to recover such
expenses upon a final adjudication that, the Covered Person has not met any applicable standard for
indemnification set forth in the DGCL. Neither the failure of the Corporation (including its
directors who are not parties to such action, a committee of such directors, independent legal
counsel or its stockholders) to have made a determination prior to the commencement of such suit
that indemnification of the Covered Person is proper in the circumstances because the Covered
Person has met the applicable standard of conduct set forth in the DGCL, nor an actual
determination by the Corporation (including a determination by its directors who are not parties to
such action, a committee of such directors, independent legal counsel or its stockholders) that the
Covered Person has not met such applicable standard of conduct, shall create a presumption that the
Covered Person has not met the applicable standard of conduct or, in the case of such a suit
brought by the Covered Person, shall be a defense to such suit. In any suit brought by the Covered
Person to enforce a right to indemnification or to an advancement of expenses hereunder, or by the
Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the
burden of proving that the Covered Person is not entitled to be indemnified, or to such advancement
of expenses, under this Article VIII or otherwise shall be on the Corporation.

Section 8.4. Non-Exclusivity of Rights. The rights provided to Covered Persons pursuant to this
Article VIII shall not be exclusive of any other right that any Covered Person may have, or
hereafter acquire, under applicable law, the Certificate of Incorporation, these By-Laws, an
agreement, a vote of stockholders or disinterested directors or otherwise.

Section 8.5. Insurance. The Corporation may maintain insurance, at its expense, to protect itself
and/or any director, officer, employee or agent of the Corporation or another corporation,
partnership, joint venture, trust or other enterprise against any expense, liability or loss,
whether or not the Corporation would have the power to indemnify such person against such expense,
liability or loss under the DGCL.

Section 8.6. Indemnification of Other Persons. This Article VIII shall not limit the right
of the Corporation, to the extent and in the manner authorized or permitted by law, to indemnify
and to advance expenses to persons other than Covered Persons. Without limiting the foregoing, the
Corporation may, to the extent authorized from time to time by the Board, grant rights to
indemnification and to the advancement of expenses to any employee or agent of the Corporation and
to any other person who is or was serving at the request of the Corporation as a director, officer,
employee or agent of another corporation or of a partnership, joint venture, trust or other
enterprise, including service with respect to an employee benefit plan, to the fullest extent of
the provisions of this Article VIII with respect to the indemnification and advancement of
expenses of Covered Persons under this Article VIII.

Section 8.7. Amendments. Any repeal or amendment of this Article VIII by the Board or the
stockholders of the Corporation or by changes in applicable law, or the adoption of any other
provision of these By-Laws inconsistent with this Article VIII, will, to the extent
permitted by applicable law, be prospective only (except to the extent such amendment or change in
applicable law permits the Corporation to provide broader indemnification rights to Covered Persons
on a retroactive basis than permitted prior thereto), and will not in any way diminish or
adversely affect any right or protection existing hereunder in respect of any act or omission
occurring prior to such repeal or amendment or adoption of such inconsistent provision.

 

By-Laws — IMKI Ventures, Inc.

 

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Exhibit 10.23.2

 

Section 8.8. Certain Definitions. For purposes of this Article VIII, (a) references to
“other enterprise” shall include any employee benefit plan; (b) references to “fines” shall include
any excise taxes assessed on a person with respect to an employee benefit plan; (c) references to
“serving at the request of the Corporation” shall include any service that imposes duties on, or
involves services by, a person with respect to any employee benefit plan, its participants or
beneficiaries; and (d) a person who acted in good faith and in a manner such person reasonably
believed to be in the interest of the participants and beneficiaries of an employee benefit plan
shall be deemed to have acted in a manner “not opposed to the best interest of the Corporation” for
purposes of Section 145 of the DGCL.

Section 8.9. Contract Rights. The rights provided to Covered Persons pursuant to this Article
VIII shall be contract rights and such rights shall continue as to a Covered Person who has
ceased to be a director, officer, agent or employee and shall inure to the benefit of the Covered
Person’s heirs, executors and administrators.

Section 8.10. Severability. If any provision or provisions of this Article VIII shall be
held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality
and enforceability of the remaining provisions of this Article VIII shall not in any way be
affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this
Article VIII (including, without limitation, each such portion of this Article VIII
containing any such provision held to be invalid, illegal or unenforceable) shall be construed so
as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

ARTICLE IX.

MISCELLANEOUS

Section 9.1. Place of Meetings. If the place of any meeting of stockholders, the Board or
committee of the Board for which notice is required under these By-Laws is not designated in the
notice of such meeting, such meeting shall be held at the principal business office of the
Corporation; provided, however, if the Board has, in its sole discretion, determined that a meeting
shall not be held at any place, but instead shall be held by means of remote communication pursuant
to Section 9.5 hereof, then such meeting shall not be held at any place.

Section 9.2. Fixing Record Dates.

(a) In order that the Corporation may determine the stockholders entitled to notice of or to
vote at any meeting of stockholders or any adjournment thereof, the Board may fix a record date,
which shall not precede the date upon which the resolution fixing the record date is adopted by the
Board, and which record date shall not be more than sixty (60) nor less than ten (10) days before
the date of such meeting. If no record date is fixed by the Board, the record date for determining
stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of
business on the business day next preceding the day on which notice is given, or, if notice is
waived, at the close of business on the business day next preceding the day on which the meeting is
held. A determination of stockholders of record
entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment
of the meeting; provided, however, that the Board may fix a new record date for the adjourned
meeting.

 

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Exhibit 10.23.2

 

(b) In order that the Corporation may determine the stockholders entitled to receive payment
of any dividend or other distribution or allotment of any rights or the stockholders entitled to
exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose
of any other lawful action, the Board may fix a record date, which record date shall not precede
the date upon which the resolution fixing the record date is adopted, and which record date shall
be not more than sixty (60) days prior to such action. If no record date is fixed, the record date
for determining stockholders for any such purpose shall be at the close of business on the day on
which the Board adopts the resolution relating thereto.

(c) In order that the Corporation may determine the stockholders entitled to consent to
corporate action in writing without a meeting, the Board may fix a record date, which record date
shall not precede the date upon which the resolution fixing the record date is adopted by the
Board, and which date shall not be more than ten (10) days after the date upon which the resolution
fixing the record date is adopted by the Board. If no record date has been fixed by the Board, the
record date for determining stockholders entitled to consent to corporate action in writing without
a meeting, when no prior action by the Board is otherwise required, shall be the first date on
which a signed written consent setting forth the action taken or proposed to be taken is delivered
to the Corporation by delivery to its registered office in the State of Delaware, its principal
place of business or the Secretary. Delivery made to the Corporation’s registered office shall be
by hand or by certified or registered mail, return receipt requested. If no record date has been
fixed by the Board and prior action by the Board is otherwise required, the record date for
determining stockholders entitled to consent to corporate action in writing without a meeting shall
be at the close of business on the day on which the Board adopts the resolution taking such prior
action.

Section 9.3. Means of Giving Notice.

(a) Notice to Directors. Whenever under applicable law, the Certificate of
Incorporation or these By-Laws notice is required to be given to any director, such notice shall be
given either (i) in writing and sent by hand delivery, through the United States mail, or by a
nationally recognized overnight delivery service for next day delivery, (ii) by means of facsimile
telecommunication or other form of electronic transmission, or (iii) by oral notice given
personally or by telephone. A notice to a director will be deemed given as follows: (i) if given
by hand delivery, orally, or by telephone, when actually received by the director, (ii) if sent
through the United States mail, when deposited in the United States mail, with postage and fees
thereon prepaid, addressed to the director at the director’s address appearing on the records of
the Corporation, (iii) if sent for next day delivery by a nationally recognized overnight delivery
service, when deposited with such service, with fees thereon prepaid, addressed to the director at
the director’s address appearing on the records of the Corporation, (iv) if sent by facsimile
telecommunication, when sent to the facsimile transmission number for such director appearing on
the records of the Corporation, (v) if sent by electronic mail, when sent to the electronic mail
address for such director appearing on the records of the Corporation, or (vi) if sent by any other
form of electronic transmission, when sent to the address, location or number (as applicable) for
such director appearing on the records of the Corporation.

 

By-Laws — IMKI Ventures, Inc.

 

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Exhibit 10.23.2

 

(b) Notice to Stockholders. Whenever under applicable law, the Certificate of
Incorporation or these By-Laws notice is required to be given to any stockholder, such notice may
be given (i) in writing and sent either by hand delivery, through the United States mail, or by a
nationally recognized overnight delivery service for next day delivery, or (ii) by means of a form
of electronic transmission consented to by the stockholder, to the extent permitted by, and subject
to the conditions set forth in, Section 232 of the DGCL. A notice to a stockholder shall be deemed
given as follows: (i) if given by hand delivery, when actually received by the stockholder, (ii)
if sent through the United States mail, when deposited in the United States mail, with postage and
fees thereon prepaid, addressed to the stockholder at the stockholder’s address appearing on the
stock ledger of the Corporation, (iii) if sent for next day delivery by a nationally recognized
overnight delivery service, when deposited with such service, with fees thereon prepaid, addressed
to the stockholder at the stockholder’s address appearing on the stock ledger of the Corporation,
and (iv) if given by a form of electronic transmission consented to by the stockholder to whom the
notice is given and otherwise meeting the requirements set forth above, (A) if by facsimile
transmission, when directed to a number at which the stockholder has consented to receive notice,
(B) if by electronic mail, when directed to an electronic mail address at which the stockholder has
consented to receive notice, (C) if by a posting on an electronic network together with separate
notice to the stockholder of such specified posting, upon the later of (1) such posting and (2) the
giving of such separate notice, and (D) if by any other form of electronic transmission, when
directed to the stockholder. A stockholder may revoke such stockholder’s consent to receiving
notice by means of electronic communication by giving written notice of such revocation to the
Corporation. Any such consent shall be deemed revoked if (1) the Corporation is unable to deliver
by electronic transmission two consecutive notices given by the Corporation in accordance with such
consent and (2) such inability becomes known to the Secretary or an Assistant Secretary or to the
Corporation’s transfer agent, or other person responsible for the giving of notice; provided,
however, the inadvertent failure to treat such inability as a revocation shall not invalidate any
meeting or other action.

(c) Electronic Transmission. “Electronic transmission” means any form of
communication, not directly involving the physical transmission of paper, that creates a record
that may be retained, retrieved and reviewed by a recipient thereof, and that may be directly
reproduced in paper form by such a recipient through an automated process, including but not
limited to transmission by telex, facsimile telecommunication, electronic mail, telegram and
cablegram.

(d) Notice to Stockholders Sharing Same Address. Without limiting the manner by which
notice otherwise may be given effectively by the Corporation to stockholders, any notice to
stockholders given by the Corporation under any provision of the DGCL, the Certificate of
Incorporation or these Bylaws shall be effective if given by a single written notice to
stockholders who share an address if consented to by the stockholders at that address to whom such
notice is given. A stockholder may revoke such stockholder’s consent by delivering written notice
of such revocation to the Corporation. Any stockholder who fails to object in writing to the
Corporation within sixty (60) days of having been given written notice by the Corporation of its
intention to send such a single written notice shall be deemed to have consented to receiving such
single written notice.

 

By-Laws — IMKI Ventures, Inc.

 

19

 

Exhibit 10.23.2

 

(e) Exceptions to Notice Requirements. Whenever notice is required to be given, under
the DGCL, the Certificate of Incorporation or these Bylaws, to any person with whom communication
is unlawful, the giving of such notice to such person shall not be required and there shall be no
duty to apply to any governmental authority or agency for a license or permit to give such notice
to such person. Any action or meeting that shall be taken or held without notice to any such
person with whom communication is unlawful shall have the same force and effect as if such notice
had been duly given. In the event that the action taken by the Corporation is such as to require
the filing of a certificate with the Secretary of State of Delaware, the certificate shall state,
if such is the fact and if notice is required, that notice was given to all persons entitled to
receive notice except such persons with whom communication is unlawful.

Whenever notice is required to be given by the Corporation, under any provision of the DGCL,
the Certificate of Incorporation or these Bylaws, to any stockholder to whom (1) notice of two (2)
consecutive annual meetings of stockholders and all notices of stockholder meetings or of the
taking of action by written consent of stockholders without a meeting to such stockholder during
the period between such two (2) consecutive annual meetings, or (2) all, and at least two (2)
payments (if sent by first-class mail) of dividends or interest on securities during a twelve (12)
month period, have been mailed addressed to such stockholder at such stockholder’s address as shown
on the records of the Corporation and have been returned undeliverable, the giving of such notice
to such stockholder shall not be required. Any action or meeting that shall be taken or held
without notice to such stockholder shall have the same force and effect as if such notice had been
duly given. If any such stockholder shall deliver to the Corporation a written notice setting
forth such stockholder’s then current address, the requirement that notice be given to such
stockholder shall be reinstated. In the event that the action taken by the Corporation is such as
to require the filing of a certificate with the Secretary of State of Delaware, the certificate
need not state that notice was not given to persons to whom notice was not required to be given
pursuant to Section 230(b) of the DGCL. The exception in subsection (1) of the first sentence of
this paragraph to the requirement that notice be given shall not be applicable to any notice
returned as undeliverable if the notice was given by electronic transmission.

Section 9.4. Waiver of Notice. Whenever any notice is required to be given under applicable law,
the Certificate of Incorporation or these By-Laws, a written waiver of such notice, signed before
or after the date of such meeting by the person or persons entitled to said notice, or a waiver by
electronic transmission by the person entitled to said notice, shall be deemed equivalent to such
required notice. All such waivers shall be kept with the books of the Corporation. Attendance at
a meeting shall constitute a waiver of notice of such meeting, except where a person attends for
the express purpose of objecting to the transaction of any business on the ground that the meeting
was not lawfully called or convened.

Section 9.5. Meeting Attendance via Remote Communication Equipment.

(a) Stockholder Meetings. If authorized by the Board, in its sole discretion, and
subject to such guidelines and procedures as the Board may adopt, stockholders and proxyholders not
physically present at a meeting of stockholders may, by means of remote communication:

 

By-Laws — IMKI Ventures, Inc.

 

20

 

Exhibit 10.23.2

 

(i) participate in a meeting of stockholders; and

(ii) be deemed present in person and vote at a meeting of stockholders, whether such
meeting is to be held at a designated place or solely by means of remote communication,
provided that (A) the Corporation shall implement reasonable measures to verify that each
person deemed present and permitted to vote at the meeting by means of remote communication
is a stockholder or proxyholder, (B) the Corporation shall implement reasonable measures to
provide such stockholders and proxyholders a reasonable opportunity to participate in the
meeting and to vote on matters submitted to the stockholders, including an opportunity to
read or hear the proceedings of the meeting substantially concurrently with such
proceedings, and (C) if any stockholder or proxyholder votes or takes other action at the
meeting by means of remote communication, a record of such votes or other action shall be
maintained by the Corporation.

(b) Board Meetings. Unless otherwise restricted by applicable law, the Certificate of
Incorporation or these By-Laws, members of the Board or any committee thereof may participate in a
meeting of the Board or any committee thereof by means of conference telephone or other
communications equipment by means of which all persons participating in the meeting can hear each
other. Such participation in a meeting shall constitute presence in person at the meeting, except
where a person participates in the meeting for the express purpose of objecting to the transaction
of any business on the ground that the meeting was not lawfully called or convened.

Section 9.6. Dividends. The Board may, from time to time, declare, and the Corporation may pay,
dividends (payable in cash, property or shares of the Corporation’s capital stock) on the
Corporation’s outstanding shares of capital stock, subject to applicable law and the Certificate of
Incorporation.

Section 9.7. Reserves. The Board may set apart out of the funds of the Corporation available for
dividends a reserve or reserves for any proper purpose and may abolish any such reserve.

Section 9.8. Contracts and Negotiable Instruments. Except as otherwise provided by applicable law,
the Certificate of Incorporation or these By-Laws, any contract, bond, deed, lease, mortgage or
other instrument may be executed and delivered in the name and on behalf of the Corporation by such
officer or officers or other employee or employees of the Corporation as the Board may, from time
to time, authorize. Such authority may be general or confined to specific instances as the Board
may determine. The Chairman of the Board, the Chief Executive Officer, the President or any Vice
President may execute and deliver any contract, bond, deed, lease, mortgage or other instrument in
the name and on behalf of the Corporation. Subject to any restrictions imposed by the Board, the
Chairman of the Board, Chief Executive Officer, President or any Vice President may delegate powers
to execute and deliver any contract, bond, deed, lease, mortgage or other instrument in the name
and on behalf of the Corporation to other officers or employees of the Corporation under such
person’s supervision and authority, it being understood, however, that any such delegation of power
shall not relieve such officer of responsibility with respect to the exercise of such delegated
power.

 

By-Laws — IMKI Ventures, Inc.

 

21

 

Exhibit 10.23.2

 

Section 9.9. Fiscal Year. The fiscal year of the Corporation shall be fixed by the Board.

Section 9.10. Seal. The Board may adopt a corporate seal, which shall be in such form as the Board
determines. The seal may be used by causing it or a facsimile thereof to be impressed, affixed or
otherwise reproduced.

Section 9.11. Books and Records. The books and records of the Corporation may be kept within or
outside the State of Delaware at such place or places as may, from time to time, be designated by
the Board.

Section 9.12. Resignation. Any director, committee member or officer may resign by giving notice
thereof in writing or by electronic transmission to the Chairman of the Board, the Chief Executive
Officer, the President or the Secretary. The resignation shall take effect at the time specified
therein, or at the time of receipt of such notice if no time is specified or the specified time is
earlier than the time of such receipt. Unless otherwise specified therein, the acceptance of such
resignation shall not be necessary to make it effective.

Section 9.13. Surety Bonds. Such officers, employees and agents of the Corporation (if any) as the
Chairman of the Board, Chief Executive Officer, President or the Board may direct, from time to
time, shall be bonded for the faithful performance of their duties and for the restoration to the
Corporation, in case of their death, resignation, retirement, disqualification or removal from
office, of all books, papers, vouchers, money and other property of whatever kind in their
possession or under their control belonging to the Corporation, in such amounts and by such surety
companies as the Chairman of the Board, Chief Executive Officer, President or the Board may
determine. The premiums on such bonds shall be paid by the Corporation and the bonds so furnished
shall be in the custody of the Secretary.

Section 9.14. Securities of Other Corporations. Powers of attorney, proxies, waivers of notice of
meeting, consents in writing and other instruments relating to securities owned by the Corporation
may be executed in the name of and on behalf of the Corporation by the Chairman of the Board, Chief
Executive Officer, President or any Vice President. Any such officer may, in the name of and on
behalf of the Corporation, take all such action as any such officer may deem advisable to vote in
person or by proxy at any meeting of security holders of any corporation in which the Corporation
may own securities, or to consent in writing, in the name of the Corporation as such holder, to any
action by such corporation, and at any such meeting or with respect to any such consent shall
possess and may exercise any and all rights and power incident to the ownership of such securities
and which, as the owner thereof, the Corporation might have exercised and possessed. The Board
may, from time to time, confer like powers upon any other person or persons.

Section 9.15. Amendments. The Board shall have the power to adopt, amend, alter or repeal the
By-Laws. The By-Laws also may be adopted, amended, altered or repealed by the stockholders.

 

22Filed by Bowne Pure Compliance

 

Exhibit 10.24

SERVICES AGREEMENT

This SERVICES AGREEMENT (this “Agreement”) is made and entered into this
1st day of September 2007, by and between Immediatek, Inc., a Nevada corporation
(together with its successors, “Immediatek”), and Radical Incubation LP, a Delaware limited
partnership (together with its successors, “Incubation LP”).

RECITALS

WHEREAS, a subsidiary of Immediatek recently acquired certain assets;

WHEREAS, Immediatek desires to retain the services of Incubation LP to assist it in
developing, servicing, operating and improving said assets (the “Services”);

WHEREAS, Incubation LP is able and desires to provide the Services to Immediatek on the terms,
and subject to the conditions, set forth herein;

WHEREAS, the Services provided herein shall be in addition to the services provided by
Incubation LP to Immediatek pursuant to that certain Management Services Agreement, dated as of
February 23, 2007, by and among Immediatek, Incubation LP and the other parties thereto (the
“Management Services Agreement”);

AGREEMENT

NOW, THEREFORE, in consideration of the above recitals, the mutual covenants and promises
herein contained and such other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged by the execution and delivery hereof, the parties hereto, intending
to be legally bound hereby, agree as follows:

1. Retention. Immediatek hereby acknowledges that it has retained Incubation LP to
provide, and Incubation LP hereby acknowledges that it will provide to Immediatek, the Services
during the Term (hereinafter defined).

2. Term. The initial term (the “Initial Term”) of this Agreement shall
continue until October 31, 2007. Following the Initial Term, Immediatek shall have the right, but
not the obligation, to extend the Initial Term until November 30, 2007, upon providing Incubation
LP written notice at least five (5) days prior to the expiration of the Initial Term. The Initial
Term, if and as so extended, shall be referred to herein as the “Term.”

3. Compensation. As compensation for the services provided to Immediatek by
Incubation LP under this Agreement, Immediatek hereby agrees to pay $53,000 per month (the
“Monthly Fee”), prorated on a daily basis for any partial month, during the Term to
Incubation LP. The Monthly Fee shall be due and payable on the last day of each calendar month
(each a “Payment Date”), commencing with the first Payment Date following the date first
above written.

 

 

 

4. Reimbursement of Expenses. In addition to the Monthly Payment pursuant to
Section 3, Immediatek hereby agrees to pay Incubation LP all Reimbursable Expenses
(hereinafter defined). For purposes of this Agreement, “Reimbursable Expenses” shall mean all
reasonable disbursements and out-of-pocket expenses, including, without limitation, costs of
travel, postage, deliveries and communications, but excluding allocated overhead, incurred by
Incubation LP for the account of Immediatek or in connection with the performance of the Services
contemplated in this Agreement. Upon presentment by Incubation LP of the supporting documentation
of the Reimbursable Expense reasonably requested by Immediatek, Immediatek shall pay the
Reimbursable Expense to Incubation LP.

5. Termination of this Agreement. Notwithstanding anything herein to the contrary,
this Agreement may be terminated by either party for any or no reason whatsoever during the Term
upon three (3) days prior written notice.

6. Indemnification. Immediatek shall indemnify and hold harmless each of Incubation
LP, its affiliates and their respective directors, officers, stockholders, partners, managers,
members, employees, agents, representatives and each person who controls Incubation LP or its
affiliates within the meaning of the Securities Act of 1933, as amended, or the Securities Exchange
Act of 1934, as amended (collectively, “Indemnified Persons,” and, individually, an
“Indemnified Person”), from and against any and all claims, liabilities, losses, damages
and expenses incurred by an Indemnified Person (including, without limitation, those arising out of
an Indemnified Person’s negligence and reasonable fees and disbursements of the respective
Indemnified Person’s counsel) that (a) are related to, or arise out of, (i) actions taken, or
omitted to be taken (including, without limitation, any untrue statements made or any statements
omitted to be made) by Immediatek or (ii) actions taken, or omitted to be taken, by an Indemnified
Person with Immediatek’s consent, in conformity with Immediatek’s instructions or Immediatek’s
actions or omissions or (b) are otherwise related to, or arise out of, Incubation LP’s engagement,
and will reimburse each Indemnified Person for all costs and expenses, including, without
limitation, fees and disbursements of any Indemnified Person’s counsel, as they are incurred, in
connection with investigating, preparing for, defending or appealing any action or formal or
informal claim, investigation, inquiry or other proceeding, whether or not in connection with any
pending or threatened litigation, caused by, arising out of or in connection with Incubation LP
acting pursuant to Incubation LP’s engagement, whether or not any Indemnified Person is named as a
party thereto and whether or not any liability results therefrom. Immediatek will not, however, be
responsible to any Indemnified Person for any claims, liabilities, losses, damages or expenses
pursuant to clause (b) of the immediately preceding sentence that have resulted primarily from such
Indemnified Person’s gross negligence or willful misconduct. Immediatek also hereby agrees that no
Indemnified Person shall have any liability to Immediatek for, or in connection with, this
Agreement, except for any such liability for claims, liabilities, losses, damages or expenses
incurred by Immediatek that have resulted primarily from such Indemnified Person’s gross negligence
or willful misconduct. Immediatek further hereby agrees that it will not, without the prior
written consent of Incubation LP, settle or compromise, or consent to the entry of any judgment in,
any pending or threatened claim, action, suit, inquiry or proceeding in respect of which
indemnification may be sought hereunder (whether or not any Indemnified Person is an actual or
potential party to such claim, action, suit, inquiry or proceeding), unless such settlement,
compromise or consent includes an unconditional release of Incubation LP and each other Indemnified
Person hereunder from all liability arising out of such claim, action, suit, inquiry or proceeding.
IMMEDIATEK HEREBY AGREES AND ACKNOWLEDGES THAT THE FOREGOING INDEMNITY SHALL BE APPLICABLE TO ANY
CLAIMS, LIABILITIES, LOSSES, DAMAGES OR EXPENSES THAT HAVE RESULTED FROM, OR ARE ALLEGED TO HAVE
RESULTED FROM, THE ACTIVE OR PASSIVE OR THE SOLE, JOINT OR CONCURRENT ORDINARY NEGLIGENCE OF
INCUBATION LP OR ANY OTHER INDEMNIFIED PERSON.

 

2

 

The foregoing right to indemnity shall be in addition to any rights that Incubation LP or any
other Indemnified Person may have at common law or otherwise and shall remain in full force and
effect following the completion or any termination of this Agreement.

7. Confidential Information. In connection with the performance of the services
hereunder, Incubation LP agrees not to divulge any confidential information, secret processes or
trade secrets disclosed by Immediatek or any of its subsidiaries to it solely in its capacity
hereunder, unless information, secret processes or trade secrets are publicly available or
otherwise available to Incubation LP without restriction or breach of any confidentiality agreement
or unless required by any governmental authority or in response to any valid legal process.

8. Miscellaneous.

(a) Entire Agreement. This Agreement and the Management Services Agreement constitute the
entire agreement and understanding of the parties in respect of the subject matter hereof and
thereof and supersede all prior understandings, agreements or representations by or among the
parties, written or oral, to the extent they relate in any way to the subject matter hereof or
thereof.

(b) Successors and Assigns. All of the terms, agreements, covenants, representations,
warranties and conditions of this Agreement are binding upon, inure to the benefit of and are
enforceable by the parties and their respective successors and permitted assigns.

(c) Notices. All notices, requests and other communications provided for, or permitted to be
given, under this Agreement must be in writing and shall be given by personal delivery, by
certified or registered United States mail (postage prepaid, return receipt requested), by a
nationally recognized overnight delivery service for next day delivery, or by facsimile
transmission, as follows (or to such other address as any party may give in a notice given in
accordance with the provisions hereof):

If to Immediatek:

Immediatek, Inc.

320 South Walton

Dallas, Texas 75226

Facsimile: (214) 744-8811

Attn: Chief Executive Officer

If to Incubation LP:

Radical Incubation LP

c/o Radical Incubation Management LLC

5424 Deloache Avenue

Dallas, Texas 75220

Facsimile: (214) 696-3380

Attn: President

 

3

 

With a copy to (which shall not constitute notice):

Robert S. Hart, Esq.

5424 Deloache Avenue

Dallas, Texas 75220

Facsimile: (214) 696-3380

All notices, requests or other communications will be effective, and deemed given, only as follows:
(i) if given by personal delivery, upon such personal delivery, (ii) if sent by certified or
registered mail, on the fifth (5th) business day after being deposited in the United
States mail, (iii) if sent for next day delivery by overnight delivery service, on the date of
delivery as confirmed by written confirmation of delivery, (iv) if sent by facsimile, upon the
transmitter’s confirmation of receipt of such facsimile transmission, except that if such
confirmation is received after 5:00 p.m. (in the recipient’s time zone) on a business day, or is
received on a day that is not a business day, then such notice, request or communication will not
be deemed effective or given until the next succeeding business day. Notices, requests and other
communications sent in any other manner, including by electronic mail, will not be effective.

(d) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF TEXAS, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW PRINCIPLES.

(e) Submission to Jurisdiction; Waiver of Jury Trial.

(i) Submission to Jurisdiction. Any action, suit or proceeding seeking to enforce any
provision of, or based on any matter arising out of or in connection with, this Agreement shall
only be brought in any federal court located in Dallas County, Texas or any Texas state court
located in Dallas County, Texas, and each party consents to the exclusive jurisdiction and venue of
such courts (and of the appropriate appellate courts therefrom) in any such action, suit or
proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it
may now or hereafter have to the laying of the venue of any such action, suit or proceeding in any
such court or that any such action, suit or proceeding brought in any such court has been brought
in an inconvenient forum. Process in any such action, suit or proceeding may be served on any
party anywhere in the world, whether within or without the jurisdiction of any such court. Without
limiting the foregoing, service of process on such party as provided in Section 8(c) shall
be deemed effective service of process on such party.

(ii) Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES THAT ANY DISPUTE THAT MAY ARISE OUT OF OR
RELATING TO THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE,
SUCH PARTY HEREBY EXPRESSLY WAIVES ITS RIGHT TO JURY TRIAL OF ANY DISPUTE BASED UPON, OR ARISING
OUT OF, THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING
TO THE MATTERS CONTEMPLATED HEREIN. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL
ACTIONS, SUITS AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT AND CONTEMPLATED
HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND
STATUTORY CLAIMS. EACH PARTY HEREBY REPRESENTS THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT IN THE
EVENT OF ANY
ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY UNDERSTANDS, AND
WITH THE ADVICE OF COUNSEL HAS CONSIDERED, THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES
THIS WAIVER VOLUNTARILY AND (iv) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS IN THIS SECTION 8(e).

 

4

 

(f) Headings. The section headings contained in this Agreement are inserted for convenience
only and shall not affect in any way the meaning or interpretation of this Agreement.

(g) Amendments; Assignment. This Agreement may be amended only by a written instrument signed
by all the parties hereto. Neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned without the prior written consent of all parties hereto; provided,
however, either party hereto shall be entitled to assign this Agreement or any of its rights,
interests or obligations hereunder, either in whole or in part, to any one or more of its
affiliates without the prior written consent of the other.

(h) Extensions; Waivers. Any party may, for itself only, (i) extend the time for the
performance of any of the obligations of any other party under this Agreement, (ii) waive any
inaccuracies in the representations and warranties of any other party contained herein or in any
document delivered pursuant hereto or (iii) waive compliance with any of the agreements or
conditions for the benefit of such party contained herein. Any such extension or waiver will be
valid only if set forth in a writing signed by the party to be bound thereby. No waiver by any
party of any default, misrepresentation or breach of warranty or covenant hereunder, whether
intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation
or breach of warranty or covenant hereunder or affect in any way any rights arising because of any
prior or subsequent such occurrence. Neither the failure nor any delay on the part of any party to
exercise any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any
single or partial exercise of any right or remedy preclude any other or further exercise of the
same or of any other right or remedy.

(i) Severability. The provisions of this Agreement will be deemed severable and the
invalidity or unenforceability of any provision will not affect the validity or enforceability of
the other provisions hereof; provided that if any provision of this Agreement, as applied to any
party or to any circumstance, is judicially determined not to be enforceable in accordance with its
terms, the parties agree that the court judicially making such determination may modify the
provision in a manner consistent with its objectives such that it is enforceable, and/or to delete
specific words or phrases, and in its modified form, such provision will then be enforceable and
will be enforced.

(j) Counterparts; Effectiveness. This Agreement may be executed in any number of
counterparts, each of which will be deemed an original but all of which together will constitute
one and the same instrument. This Agreement will become effective when one or more counterparts
have been signed by each of the parties and delivered to the other parties. For purposes of
determining whether a party has signed this Agreement or any document contemplated hereby or any
amendment or waiver hereof, only a handwritten original signature on a paper document or a
facsimile copy of such a handwritten original signature shall constitute a signature,
notwithstanding any law relating to or enabling the creation, execution or delivery of any contract
or signature by electronic means.

 

5

 

(k) Construction. This Agreement has been freely and fairly negotiated among the parties. If
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if
drafted jointly by the parties and no presumption or burden of proof will arise favoring or
disfavoring any party because of the authorship of any provision of this Agreement. Any reference
to any law will be deemed to refer to such law as in effect on the date hereof and all rules and
regulations promulgated thereunder, unless the context requires otherwise. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in
masculine, feminine and neuter genders will be construed to include any other gender, and words in
the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and
words of similar import refer to this Agreement as a whole and not to any particular subdivision,
unless expressly so limited. The parties intend that each representation, warranty and covenant
contained herein will have independent significance. If any party has breached any covenant
contained herein in any respect, the fact that there exists another covenant relating to the same
subject matter (regardless of the relative levels of specificity) that the party has not breached
will not detract from or mitigate the fact that the party is in breach of the first covenant.

(l) Limitation of Liability. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, NO PARTIES
HERETO SHALL BE LIABLE FOR ANY LOST PROFITS, COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES,
OR FOR ANY OTHER INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES ARISING OUT OF,
OR IN CONNECTION WITH, THIS AGREEMENT, HOWEVER CAUSED, AND UNDER WHATEVER CAUSE OF ACTION OR THEORY
OF LIABILITY BROUGHT (INCLUDING, WITHOUT LIMITATION, UNDER ANY CONTRACT, NEGLIGENCE OR OTHER TORT
THEORY OF LIABILITY), EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. TO
THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IMMEDIATEK’S AND INCUBATION LP’S AGGREGATE
RESPECTIVE LIABILITY FOR DIRECT DAMAGES UNDER THIS AGREEMENT (CUMULATIVELY) SHALL BE LIMITED TO THE
AMOUNTS RECEIVED AND PAID, RESPECTIVELY, HEREUNDER DURING THE TWELVE (12) MONTHS PRIOR TO THE TIME
THAT THE CAUSE OF ACTION AROSE.

SIGNATURE PAGE FOLLOWS

 

6

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

	 	 	 	 	 	 	 
	 	 	IMMEDIATEK:
	 
	 	 	 	 	 	 
	 	 	Immediatek, Inc.,

a Nevada corporation
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ DARIN DIVINIA
	 	 	 	 	 
	 	 	Name:	 	Darin Divinia
	 	 	Title:	 	Chief Executive Officer
	 
	 	 	 	 	 	 
	 	 	INCUBATION LP:
	 
	 	 	 	 	 	 
	 	 	Radical Incubation LP,

a Delaware limited partnership
	 
	 	 	 	 	 	 
	 	 	By:	 	Radical Incubation Management LLC,

a Delaware limited liability company,

its general partner
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ MARTIN WOODALL
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Martin Woodall
	 

	 	 	 	Title:
	 	Vice President

 

7

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