Ballot Types

A GAB must consist of one of the three types of supported ballots:

Up/Down Ballots:

Up/Down Ballots contain a single option to be voted on by the Members. Voting options include "Adopt,” "Reject,” and “Pass.”

An Up/Down ballot is adopted when:

• A quorum is reached, and

• the Adopt votes outnumber the Reject votes at the end of the Voting Period.

Multi-Option Ballots:

Multi-Option Ballots contain multiple options to be voted on by the Members, including "Adopt Option 1,” …, "Adopt Option n,” …., “Reject” and “Pass."

A Member can only select one of the voting options on the ballot.

A vote for Reject is a vote against all options on the ballot. A vote for Pass is a vote to abstain from adopting any of the options and rejecting any of the options.

Option X is approved when:

(a) a quorum is reached, and

(b) the votes for “Adopt Option X” outnumber the votes for “Reject " at the end of the Voting Period.

Approval Ballots:

Approval Ballots contain multiple options to be voted on by the Members, including "Adopt Option 1,” …, "Adopt Option n,” …., “Reject” and “Pass."

Unlike a Multi-Option Ballot, a Member can allocate her votes to one or multiple voting options on the ballot.

A vote for Reject is a vote against all options. A vote for Pass means to abstain from voting with respect to adopting or rejecting all of the options.

Option X is approved when:

(a) a quorum is reached, and

(b) the votes for “Adopt Option X” outnumber the votes for “Reject" at the end of the Voting Period.

Approval Ballots can also define that a certain number of options receiving the most votes will be adopted, whereby if the Adopt votes for those certain options outnumber the votes for “Reject” at the end of the Voting Period, those options will be adopted (assuming the quorum requirement is met)