The Capital Market Law

a) The Board shall hold its meetings at the request of its chairman. Board meetings must be attended by at least three of its members including the chairman or vice chairman. Its resolutions shall be made upon a vote of a majority of the members attending the meeting. In case of equal votes, the chairman of the meeting will have a casting vote. b) The Internal Regulations will set forth the conditions and requirements with respect to convening meetings of the Board, including the notice for a meeting. The rules issued by the Authority may provide that it is permitted to vote for resolutions to be passed by the Board in emergency situations by telephone or by any other means of communication. Page 14 of 60