EXHIBIT 3.3
BY-LAWS
OF
VERIZON GLOBAL FUNDING CORP.
(a Delaware Corporation)
ARTICLE I
Meetings of Stockholders
SECTION 1.01. Place of Meeting. All meetings of the stockholders of the
corporation shall be held at such place within or without the State of Delaware
as shall be designated by the board of directors (or by an officer or
stockholders call in a meeting pursuant to Section 1.03) in accordance with
Section 1.02 or Section 1.03.
SECTION 1.02. Annual Meeting. The board of directors shall fix the
date, place and time of the annual meeting of the stockholders to be held for
the purpose of electing directors and transacting such other business as may
properly be brought before the meeting.
SECTION 1.03. Special Meetings. Special meetings of the stockholders of
the corporation, for any purpose or purposes for which meetings may lawfully be
called, may be called at any time by the chairman or any co-chairman of the
board, by the President (or such officer as may be duly authorized to exercise
the duties ordinarily exercised by the president), or by stockholders owning a
majority of the stock upon written notice to the Secretary, which written notice
shall state the purpose or purposes of the meeting and designate the date, time
and place of the meeting. It shall be the duty of the secretary to fix the date,
place and time of such meeting in accordance with such notice (but subject to
the express terms of these by-laws) and to give due notice thereof pursuant to
Section 1.04.
SECTION 1.04. Notice of Meetings. Written notice of the place, date and
hour of every meeting of the stockholders, whether annual or special, shall be
given to each stockholder of record entitled to vote at the meeting not less
than ten nor more than sixty days before the date of the meeting. Every notice
of a special meeting shall state the purpose or purposes thereof.
SECTION 1.05. Quorum and Manner of Acting. The holders of a majority of
the shares issued and outstanding (not including treasury stock) and entitled to
vote thereat, present in person or represented by proxy, shall constitute a
quorum at any meeting of the stockholders for the transaction of business except
as otherwise provided by statute, the certificate of incorporation or these
by-laws. When a quorum is present or represented at any meeting, the vote
of a majority of the shares present in person or represented by proxy and voting
on the question shall decide any question brought before such meeting, unless
the question is one upon which, by express provision of an applicable statute or
these by-laws, a different vote is required, in which case such express
provision shall govern and control the decision of such question.
ARTICLE II
Board of Directors
SECTION 2.01. Powers. The business and affairs of the corporation shall
be managed under the direction of its board of directors; and all powers of the
corporation, except those specifically reserved or granted to the stockholders
by statute, the certificate of incorporation or these by-laws, are hereby
granted to and vested in the board of directors.
SECTION 2.02. Number and Term of Office. The board of directors shall
consist of not less than one nor more than ten directors. At each annual meeting
of stockholders, directors shall be chosen for a term of one year. Each director
shall hold office until the director's successor shall have been elected and
qualified, except in the event of the director's earlier death, resignation or
removal. All directors of the corporation shall be natural persons, but need not
be residents of Delaware or stockholders of the corporation.
SECTION 2.03. Vacancies. Vacancies and newly created directorships
resulting from any increase in the authorized number of directors elected by all
of the stockholders may be filled by a majority of the directors then in office,
although less than a quorum, or by a sole remaining director, and the directors
so chosen shall hold office until the next annual election and until their
successors are duly elected and shall qualify, except in the event of the
director's earlier death, resignation or removal.
SECTION 2.04. Resignations. Any director of the corporation may resign
at any time upon written notice to the corporation. Such resignation shall take
effect at the date of the receipt of such notice or at any later time specified
therein and, unless otherwise specified therein, the acceptance of such
resignation shall not be necessary to make it effective.
SECTION 2.05. Organization. At every meeting of the board of directors,
the following person shall preside: (i) the chairman or co-chairman of the
board, or (ii) in the case of a vacancy in, or the nonexistence of, the offices
of chairman and co-chairmen of the board or the absence of an elected chairman
or co-chairman of the board, the president, or (iii) in the case of a vacancy
in, or the nonexistence of, the offices of chairman and co-chairmen of the board
and president or the absence of an elected chairman or co-chairman of the board
and president, a chairman chosen by a majority of the directors present shall
preside. The secretary or, in the absence of the secretary, an assistant
secretary or, in the absence of the secretary and the assistant secretaries, any
person appointed by the chairman of the meeting shall act as secretary.
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SECTION 2.06. Place of Meeting. The board of directors may hold its
meetings, both regular and special, at such place or places within or without
the State of Delaware as the board of directors may from time to tune determine
or as may be designated in the notice calling the meeting.
SECTION 2.07. Annual Meeting. A meeting of the board of directors for
the election of officers and the transaction of general business shall, unless a
different time or place is designated by the board, be held following each
annual meeting of stockholders at the place of the annual meeting of
stockholders, and no notice of such meeting shall be necessary to the newly
elected directors in order legally to constitute the meeting if a quorum shall
be present.
SECTION 2.08. Regular Meetings. Regular meetings of the board of
directors may be held without notice at such time and place as shall be
designated from time to time by resolution of the board of directors. If the
date fixed for any such regular meeting is a Saturday, Sunday or legal holiday
under the laws of the State where such meeting is to be held, then the meeting
shall be held on the next succeeding business day or at such other time as may
be determined by resolution of the board of directors. At such meetings the
directors shall transact such business as may properly be brought before the
meeting.
SECTION 2.09. Special Meetings. Special meetings of the board of
directors may be called by the chairman or any co-chairman of the board or by
the president (or such officer as may be duly authorized to exercise the duties
ordinarily exercised by the president). Notice of each such meeting shall be
given to each director by telephone (in which case notice shall be given at
least 24 hours before the time of the meeting), sent by telegram or similar
method (in which case notice shall be given at least 48 hours before the time of
the meeting) or sent by first-class mail (in which case notice shall be given at
least five days before the meeting). Each such notice shall state the time and
place of the meeting to be so held, but no such notice shall be required to
state the purpose or purposes for which the meeting is called nor the matters to
be considered at such meeting.
SECTION. 2.10. Quorum, Manner of Acting and Adjournment. At all
meetings of the board, a majority of the directors in office shall constitute a
quorum for the transaction of business and the vote of a majority of the
directors present at any meeting at which there is a quorum present shall be the
act of the board of directors, except as may be otherwise specifically provided
by statute, these by-laws or the certificate of incorporation. If a quorum shall
not be present at any meeting of the board of directors, the directors present
thereat may adjourn the meeting from time to time, without notice other than
announcement at the meeting, until a quorum shall be present. Any action
required or permitted to be taken at any meeting of the board of directors or of
any committee thereof may be taken without a meeting, if all members of
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the board or committee, as the case may be, consent thereto in writing and the
writing or writings are filed with the minutes of proceedings of the board or
committee.
SECTION 2.11. Committees of the Board. The board of directors may, by
resolution adopted by a majority of the whole board, designate two or more of
its number to constitute an Executive Committee. The Executive Committee, except
as otherwise expressly provided by resolution of the board, shall have and may
exercise all the powers and authority of the board of directors in the
management of the business and affairs of the corporation to the extent
permitted by law, including the power and authority to declare a dividend. The
board of directors may, by resolution adopted by a majority of the whole board,
designate from time to time such other committees of the board of directors as
it shall deem necessary or appropriate. 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 the committee. In the absence or
disqualification of a committee member, and in the absence or disqualification
of the alternate or alternates designated for such member, if any, the committee
member or members thereof present at any meeting and not disqualified from
voting, whether or not constituting a quorum of the committee, may unanimously
appoint another director to act at the meeting in the place of any such absent
or disqualified member. A majority of committee members, or in their absence
alternates designated in the manner described in this section, shall constitute
a quorum. The vote of a majority of committee members present and voting, or in
their absence alternates designated in the manner described in this section,
shall be the act of the committee provided that there is a quorum present.
Each committee of the board shall have such duties, power and
authority, not inconsistent with these by-laws, as may from time to time be
established by resolution of the board of directors.
ARTICLE III
Notice - Waivers - Meetings
SECTION 3.01. Notice, What Constitutes. Whenever, under the provisions
of the statutes of Delaware or the certificate of incorporation or these
by-laws, notice is required to be given to any director or stockholder, it shall
not be construed to mean personal notice, but such notice may be given in
writing, by mail, addressed to such director or stockholder at his or her
address as it appears on the records of the corporation, with postage thereon
prepaid, and such notice shall be deemed to be given at the time when the same
shall be deposited in the United States mail. Notice to directors may also be
given in accordance with Section 2.09 hereof.
SECTION 3.02. Waivers of Notice. Whenever any notice is required to be
given under the provisions of the certificate of incorporation or these by-laws,
or by statute, a waiver thereof
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in writing, signed by the person or persons entitled to such notice, whether
executed before or after the action or event required to be stated in the
notice, shall be deemed equivalent to the giving of such notice. Neither the
business to be transacted at, nor the purpose of, any regular or special meeting
of the stockholders, directors, or members of a committee need be specified in
any written waiver of notice of such meeting.
Attendance of a person, either in person or by proxy, at any meeting
shall constitute a waiver of notice of such meeting, except where a person
attends a meeting for the express purpose of objecting, at the beginning of the
meeting, to the transaction of any business because the meeting was not lawfully
called or convened.
SECTION 3.03. Conference Telephone Meetings. Members of the board of
directors, or of any committee of the board of directors, may participate in a
meeting of such board or committee by means of conference telephone or similar
communications equipment by means of which all persons participating in the
meeting can hear each other, and such participation in a meeting shall
constitute presence in person at such meeting.
ARTICLE IV
Officers
SECTION 4.01. Number, Qualifications and Designation. The officers of
the corporation shall be (i) one or more of any of the following: a chairman or
a vice-chairman of the board or a president or a vice president (or such other
officer as may be duly authorized to exercise the duties, respectively,
ordinarily exercised by the president or vice president), (ii) a secretary,
(iii) a treasurer, and (iv) such other officers as may from time to time be
elected by the board of directors or appointed in accordance with the provisions
of Section 4.03 hereof. One person may hold more than one office. Officers may
be, but need not be, directors or stockholders of the corporation.
SECTION 4.02. Election and Term of Office. The officers of the
corporation, except those appointed by delegated authority pursuant to Section
4.03 hereof, shall be elected by the board of directors for such terms as may be
specified by the board, and each such officer shall hold such office until such
officer's successor shall have been elected and qualified, or until such
officer's earlier death, resignation or removal. Any officer may resign at any
time by giving written notice to the corporation. Such resignation shall take
effect at the date of receipt of such notice or at any later time specified
therein and, unless otherwise specified therein, the acceptance of such
resignation shall not be necessary to make it effective.
SECTION 4.03. Subordinate Officers, Employees and Agents. The board of
directors may from time to time appoint such subordinate officers, employees or
other-agents as it deems necessary, who shall hold such positions for such terms
and shall exercise such powers and
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perform such duties as are provided in these by-laws, or as the board of
directors may from time to time determine. The board of directors may delegate
to any officer or committee of the board the power to appoint or remove
subordinate officers and to retain, appoint or remove employees or other agents,
or committees thereof, and to prescribe the authority and duties, not
inconsistent with these by-laws, of such subordinate officers, committees,
employees or other agents.
SECTION 4.04. Chairman of the Board. The chairman or co-chairmen of the
board shall preside at all meetings of the board of directors and shall perform
such other duties as may from time to time be assigned to him or her by the
board of directors.
SECTION 4.05. The President. The president, if one shall be elected by
the board of directors, shall have such authority and perform such duties as
usually appertain to that office in business corporations; preside at meetings
of the board of directors in the absence of the chairman or a co-chairman of the
board; and perform such other duties as may from time to time be assigned to him
or her by the board of directors.
SECTION 4.06. The Treasurer. The treasurer, or an assistant treasurer,
if one shall be elected by the board of directors or appointed by delegated
authority pursuant to Section 4.03 hereof, shall have or provide for the custody
of the funds and other property of the corporation and shall keep or cause to be
kept full and accurate accounts of receipts and disbursements in books belonging
to the corporation; collect and receive, or provide for the collection and
receipt of, moneys earned by or in any manner due to or received by the
corporation; deposit all funds in his or her custody as treasurer in such banks
or other places of deposit as the board of directors may from time to time
designate; whenever so required by the board of directors, render an account
showing his or her transactions as treasurer and the financial condition of the
corporation; and, in general, discharge such other duties as may from time to
time be assigned to him or her by the board of directors or the chairman or a
co-chairman of the board.
SECTION 4.07. The Secretary. The secretary, or an assistant secretary,
shall attend all meetings of the stockholders and of the board of directors and
shall record the proceedings of the stockholders and of the directors and of
committees of the board in a book or books to be kept for that purpose; see that
notices are given and records and reports properly kept and filed by the
corporation as required by law; be the custodian of the seal of the corporation
and attest or cause to be attested documents on behalf of the corporation under
its seal; and, in general, perform all duties as may from time to time be
assigned to him or her by the board of directors or the chairman or a
co-chairman of the board.
SECTION 4.08. Other Officers. Officers other than those elected by the
board of directors pursuant to Section 4.01 shall have such authority and
duties, not inconsistent with these by-laws, as may be provided by resolution of
the board of directors.
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SECTION 4.09. Salaries. The salaries of the officers of the corporation
elected by the board of directors shall be fixed from time to time by, or
pursuant to authority delegated by, the board of directors.
SECTION 4.10. Voting of Stock. Unless otherwise ordered by the board of
directors, the chairman or a co-chairman of the board or the president shall
have full power and authority, on behalf of the corporation, to attend and to
act and vote, in person or by proxy, at any meeting of the stockholders of any
company in which the corporation may hold stock, and at any such meeting shall
possess and may exercise any and all of the rights and powers incident to the
ownership of such stock which, as the owner thereof, the corporation might have
possessed and exercised if present. The board of directors, by resolution
adopted from time to time, may confer like powers upon any other person or
persons.
ARTICLE V
Certificates for Stock
SECTION 5.01. Issuance. Each stockholder shall be entitled to a
certificate certifying the number of shares of stock of the corporation owned by
such stockholder upon his or her request therefor.
SECTION 5.02. Stock Certificates. Stock certificates of the corporation
shall be in such form as may be approved by the board of directors. The stock
record books and the blank stock certificate books shall be kept by the
secretary or by any agency designated by the board of directors for that
purpose.
ARTICLE VI
Indemnification of Directors, Officers and Other Authorized Representatives
SECTION 6.01. Indemnification of Authorized Representatives in Third
Party Proceedings. The corporation shall indemnify any person who was or is an
"authorized representative" of the corporation (which shall mean for purposes of
this Article a director or officer of the corporation) and who was or is a party
or is threatened to be made a party to any "third party proceeding" (which shall
include for purposes of this Article any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative or
investigative, other than an action by or in the right of the corporation) by
reason of the fact that such person was or is an authorized representative of
the corporation, against expenditures (which shall include for purposes of this
Article attorneys' fees), judgments, penalties, fines and amounts paid in
settlement actually and reasonably incurred by such person in connection with
such third party proceeding if such person acted in good faith and in a manner
such person reasonably believed to be in, or not opposed to, the best interests
of the corporation and, with respect to any criminal
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third party proceeding (including any action or investigation which could or
does lead to a criminal third party proceeding), had no reasonable cause to
believe such conduct was unlawful. The termination of any third party proceeding
by judgment, order, settlement, conviction or upon a plea of nolo contendere or
its equivalent shall not of itself create a presumption that the authorized
representative (i) did not act in good faith and in a manner which such person
reasonably believed to be in, or not opposed to, the best interests of the
corporation or, (ii) with respect to any criminal third party proceeding, had
reasonable cause to believe that such conduct was unlawful.
SECTION 6.02. Indemnification of Authorized Representatives in
Corporate Proceedings. The corporation shall indemnify any person who was or is
an authorized representative of the corporation and who was or is a party or is
threatened to be made a party to any "corporate proceeding" (which shall include
for purposes of this Article any threatened, pending or completed action or suit
by or in the right of the corporation to procure a judgment in its favor and any
investigative proceeding by the corporation) by reason of the fact that such
person was or is an authorized representative of the corporation, against
expenses actually and reasonably incurred by such person in connection with the
defense or settlement of such corporate action if such person acted in good
faith and in a manner reasonably believed to be in, or not opposed to, the best
interests of the corporation, except that no indemnification shall be made in
respect of any claim, issue or matter as to which such person shall have been
adjudged to be liable for negligence or misconduct in the performance of such
person's duty to the corporation unless and only to the extent that the Court of
Chancery or the court in which such corporate proceeding was pending shall
determine upon application that, despite the adjudication of liability but in
view of all the circumstances of the case, such authorized representative is
fairly and reasonably entitled to indemnity for such expenses which the Court of
Chancery or such other court shall deem proper.
SECTION 6.03. Mandatory Indemnification of Authorized Representatives.
To the extent that an authorized representative of the corporation has been
successful on the merits or otherwise in defense of any third party or corporate
proceeding or in defense of any claim, issue or matter therein, such person
shall be indemnified against expenses actually and reasonably incurred by such
person in connection therewith.
SECTION 6.04. Determination of Entitlement to Indemnification. Any
indemnification under Section 6.01, 6.02 or 6.03 hereof (unless ordered by a
court) shall be made by the corporation only as authorized in the specific case
upon a determination that indemnification of the authorized representative is
proper in the circumstances because such person has either met the applicable
standard of conduct set forth in Section 6.01 or 6.02 or has been successful on
the merits or otherwise as set forth in Section 6.03 and that the amount
requested has been actually
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and reasonably incurred. Such determination shall be made: (1) by the board of
directors by a majority vote of a quorum consisting of directors who were not
parties to such third party or corporate proceeding, or (2) if such a quorum is
not obtainable or, even if obtainable; a majority vote of such a quorum so
directs, by independent legal counsel in a written opinion, or (3) by the
stockholders.
SECTION 6.05. Advancing Expenses. Expenses actually and reasonably
incurred in defending a third party or corporate proceeding shall be paid on
behalf of an authorized representative by the corporation in advance of the
final disposition of such third party or corporate proceeding and within 30 days
of receipt by the Secretary of (i) an application from such authorized
representative setting forth the basis for such application, and (ii) if
required by law at the time such application is made, an undertaking by or on
behalf of the authorized representative to repay such amount if it shall
ultimately be determined that such person is not entitled to be indemnified by
the corporation under this Article. The financial ability of such authorized
representative to make such repayment shall not be a prerequisite to the making
of an advance.
SECTION 6.06. Employee Benefit Plans. For purposes of this Article,
references to "other enterprises" shall include employee benefit plans;
references to "fines", shall include any excise taxes assessed on a person with
respect to an employee benefit plan; and references to "serving at the request
of the corporation" shall include any service as a director, officer, employee
or agent of the corporation which imposes duties on, or involves services by,
such director, officer, employee, or agent with respect to an employee benefit
plan, its participants, or beneficiaries; and a person who acted in good faith
and in a manner he or she 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 interests of the corporation" as
referred to in this Article.
SECTION 6.07. Score of Article. The indemnification and advancement of
expenses provided by or granted pursuant to this Article shall (i) not be deemed
exclusive of any other rights to which those seeking indemnification or
advancement of expenses may be entitled under any statute, agreement, vote of
stockholders or disinterested directors or otherwise, both as to action in an
official capacity and as to action in another capacity while holding such
office, (ii) unless otherwise provided when authorized or ratified, continue as
to a person who has ceased to be an authorized representative and (iii) inure to
the benefit of the heirs, executors and administrators of such a person.
SECTION 6.08. Reliance on Provisions. Each person who shall act as an
authorized representative of the corporation shall be deemed to be doing so in
reliance upon the rights of indemnification and advancement of expenses provided
by this Article.
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SECTION 6.09. Insurance. The corporation may purchase and maintain
insurance on behalf of any person who is or was an authorized representative
against any liability asserted against such person and incurred by such person
in any such capacity, or arising out of such person's status as such, whether or
not the corporation would have the power to indemnify such person against such
liability under the provisions of this Article or otherwise.
ARTICTLE VII
General Provisions
SECTION 7.01. Contracts. The board of directors may, by resolution,
authorize any officer or officers, including the chairman or any co-chairman of
the board, or any agent or agents to enter into any contract or to execute or
deliver any instrument on behalf of the corporation and such authority may be
general or confined to specific instances. Any officer so authorized may, unless
the authorizing resolution otherwise provides, delegate such authority to one or
more subordinate officers, employees or agents, and such delegation may provide
for further delegation.
SECTION 7.02. Checks, Notes, etc. A11 checks, notes and evidences of
indebtedness of the corporation shall be signed by such person or persons as the
board of directors may from time to time designate.
SECTION 7.03 Corporate Seal. The corporate seal shall have inscribed
thereon the name of the corporation, the year of its organization and the words
"Corporate Seal, Delaware". The seal may be used by causing it or a facsimile
thereof to be impressed or affixed or in any other manner reproduced.
SECTION 7.04. Fiscal Year. The fiscal year of the corporation shall
begin on the first day of January of each year and shall end on the last day of
December of each year.
SECTION 7.05. Amendment of By-laws. To the extent permissible under
Delaware law and the articles of incorporation of the corporation, these by-laws
may be altered, amended or repealed, or new by-laws may be adopted, by the board
of directors at any meeting by majority vote of the directors in office.
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