<SUBMISSION>
<ACCESSION-NUMBER>0000950129-05-004674
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20050504
<ITEMS>5.03
<ITEMS>9.01
<FILING-DATE>20050504
<DATE-OF-FILING-DATE-CHANGE>20050504
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BAKER HUGHES INC
<CIK>0000808362
<ASSIGNED-SIC>3533
<IRS-NUMBER>760207995
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-09397
<FILM-NUMBER>05799930
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3900 ESSEX LANE
<CITY>HOUSTON
<STATE>TX
<ZIP>77027
<PHONE>7134398600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3900 ESSEX LAND
<CITY>HOUSTON
<STATE>TX
<ZIP>77210
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>h25061e8vk.htm
<DESCRIPTION>BAKER HUGHES INC.- MAY 4, 2005
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d) of The Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt"><B>Date of Report </B>(Date of earliest event reported): <B>May&nbsp;4, 2005 </B>(April&nbsp;28, 2005)


<P align="center" style="font-size: 24pt"><B>Baker Hughes Incorporated</B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-9397</B><BR>
(Commission File No.)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>76-0207995</B><BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>3900 Essex Lane, Houston, Texas</B><BR>
(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>77027</B><BR>
(Zip Code)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>Registrant&#146;s telephone number, including area code: (713)&nbsp;439-8600</B>



<P align="center" style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</U><BR>
(former name or former address, if changed since last report)


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation
of the registrant under any of the following provisions:


<DIV align="center">
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    <TD width="2%">&nbsp;</TD>
    <TD width="97%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;&nbsp;&nbsp;&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;&nbsp;&nbsp;&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;&nbsp;&nbsp;&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&#091;&nbsp;&nbsp;&#093;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
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</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;5.03</B>&nbsp;</TD>
    <TD><B>Amendments to Articles of Incorporation or Bylaws; Change in
Fiscal Year.</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;28, 2005, a Certificate of Amendment to the Restated Certificate of Incorporation
(the &#147;Amendment&#148;) of Baker Hughes Incorporated (the &#147;Company&#148;) was filed with the Delaware
Secretary of State&#146;s Office. The Amendment provides for the annual election of directors and
repeals the provisions that provide for the classification of the Board of Directors. The
Amendment was approved by the stockholders at the Company&#146;s 2005 Annual Meeting of Stockholders
held on April&nbsp;28, 2005, and is further described in the Company&#146;s Proxy Statement furnished to the
stockholders in connection with that meeting. The foregoing description of the Amendment does not
purport to be complete and is qualified in its entirety by reference to the Amendment being filed
with this Form 8-K as Exhibit&nbsp;3.1 and incorporated into this Item&nbsp;5.03 by reference.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On April&nbsp;28, 2005, the Board of Directors amended and restated the Company&#146;s Bylaws to (i)
incorporate the annual election of directors provisions in the Amendment to Restated Certificate of
Incorporation as described above;
(ii)&nbsp;conform with certain provisions in Delaware law; (iii)&nbsp;provide for additional
officer positions and updated descriptions of certain officer
positions; (iv)  remove the
position of Vice Chairman from the Bylaws; and (v)&nbsp;other clarifications, including Article&nbsp;II,
Section&nbsp;2 &#147;Annual Meetings of Stockholders&#148; and Article&nbsp;III, Section&nbsp;1, &#147;Number and Qualification
of Directors&#148; as deemed appropriate by the Board of Directors. The foregoing description of the
Bylaws does not purport to be complete and is qualified in its entirety by reference to the Bylaws
being filed with this Form 8-K as Exhibit&nbsp;3.2 and incorporated into this Item&nbsp;5.03 by reference.


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;9.01</B>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Exhibits.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">3.1&nbsp;&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation of Baker Hughes Incorporated dated
April&nbsp;28, 2005.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">3.2&nbsp;&nbsp;</TD>
    <TD>Restated Bylaws of Baker Hughes Incorporated dated April&nbsp;28, 2005.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">BAKER HUGHES INCORPORATED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Dated:  May 4, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Sandra E. Alford
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Sandra E. Alford&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amendment to Restated Certificate of Incorporation</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Bylaws</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>h25061exv3w1.htm
<DESCRIPTION>AMENDMENT TO CERTIFICATE OF INCORPORATION
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<P align="right" style="font-size: 10pt">Exhibit&nbsp;3.1



<P align="center" style="font-size: 10pt"><B>CERTIFICATE OF AMENDMENT<BR>
OF<BR>
RESTATED CERTIFICATE OF INCORPORATION<BR>
OF<BR>
BAKER HUGHES INCORPORATED</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baker Hughes Incorporated (the &#147;Corporation&#148;), a corporation duly organized and existing under
the General Corporation Law of the State of Delaware, does hereby certify that:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FIRST: Article&nbsp;ELEVENTH of the Corporation&#146;s Restated Certificate of Incorporation is amended
to read in its entirety as follows:



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The directors of the Corporation shall serve for a term of one
year ending on the date of the annual meeting of stockholders
following the annual meeting at which the director was elected.



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of directors shall be fixed from time to time by the
bylaws of the Corporation or an amendment thereof duly adopted by
the Board of Directors or by the stockholders acting in accordance
with Article&nbsp;SEVENTH herein.



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any of the foregoing provisions of this
Article, each director shall serve until his or her successor is
elected and qualified or until his or her death, retirement,
resignation or removal.&#148;



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECOND: Article&nbsp;THIRTEENTH of the Corporation&#146;s Restated Certificate
of Incorporation is amended to read in its entirety as follows:



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;THIRTEENTH: The provisions set forth in this Article
THIRTEENTH and in Articles SEVENTH (dealing with the alteration of
bylaws by stockholders), EIGHTH (dealing with the prohibition
against stockholder action without meetings), TENTH (dealing with
liability of directors), ELEVENTH (dealing with the term and
number of directors) and TWELFTH (dealing with the 75% vote of
stockholders required for certain Business Combinations) herein may
not be repealed or amended in any respect, and no Article imposing
cumulative voting in the election of directors may be added, unless
such action is approved by the affirmative vote of not less than 75%
of the total voting power of all shares of stock of the Corporation
entitled to vote in the election of directors, considered for
purposes of this Article&nbsp;THIRTEENTH


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:6%; font-size: 10pt">as one class. Amendment to the provisions set forth in this
Article&nbsp;THIRTEENTH and in Article&nbsp;TWELFTH shall also require the
affirmative vote of 66-2/3% of such total voting power excluding the
vote of shares owned by a &#147;Related Person&#148; (as defined in Article
THIRTEENTH). The voting requirements contained in Article&nbsp;SEVENTH,
Article&nbsp;TWELFTH and this Article&nbsp;THIRTEENTH herein shall be in
addition to the voting requirements imposed by law, other provisions
of this Certificate of Incorporation or any Certificate of
Designation of Preferences in favor of certain classes or series of
classes of shares of the Corporation.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIRD: The foregoing amendment to the Corporation&#146;s Restated Certificate of Incorporation was
duly adopted by the Corporation&#146;s Board of Directors at a meeting duly called and held on January
27, 2005 and by the holders of the Corporation&#146;s capital stock at a meeting duly called and held on
April&nbsp;28, 2005, all in accordance with the provisions of Section&nbsp;242 of the General Corporation Law
of the State of Delaware.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned has caused this Certificate to be executed in its name and
on its behalf by its duly authorized officer on this 28<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> day of April, 2005.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">BAKER HUGHES INCORPORATED<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Sandra E. Alford
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sandra E. Alford&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>3
<FILENAME>h25061exv3w2.htm
<DESCRIPTION>RESTATED BYLAWS
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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt">Exhibit&nbsp;3.2



<P align="center" style="font-size: 10pt"><B>BYLAWS<BR>
OF<BR>
BAKER HUGHES INCORPORATED</B>



<P align="center" style="font-size: 10pt">Restated as of<BR>
April&nbsp;28, 2005




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="center" style="font-size: 10pt">Table of Contents


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Page No.</TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE I &#151; Offices</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered Office</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Other Offices</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE II &#151; Meetings of Stockholders</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Place of Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Annual Meeting of Stockholders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Quorum; Adjourned Meetings and Notice Thereof</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Proxies</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Stockholders&#146; Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Waiver of Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Maintenance and Inspection of Stockholder List</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">2</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Stockholder Action by Written Consent Without a Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;10.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Inspectors of Election</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Procedure for Stockholders&#146; Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;12.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Order of Business</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">3</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;13.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Procedures for Bringing Business before an Annual Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;14.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Procedures for Nominating Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">4</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE III &#151; Directors</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>6</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Number and Qualification of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Election and Term of Office</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Resignation and Removal of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vacancies</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Place of Directors&#146; Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Regular Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">7</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Quorum</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;10.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Action Without Meeting</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Telephonic Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;12.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Meetings and Action of Committees</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">8</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;13.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Special Meetings of Committees</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">9</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;14.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Minutes of Committee Meetings</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">9</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;15.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Compensation of Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">9</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;16.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indemnification</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">9</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;



<P align="center" style="font-size: 10pt">- i -



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE IV &#151; Officers</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>12</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Officers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">12</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Election of Officers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">12</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Subordinate Officers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">12</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Removal and Resignation of Officers</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">12</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vacancies in Offices</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">13</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chairman of the Board</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">13</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">13</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;8.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">President</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">14</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;9.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">14</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;10.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vice Presidents</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">14</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;11.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">14</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;12.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;13.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Treasurer and Controller</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;14.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Delegation of Authority</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE V &#151; Certificate of Stock</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>15</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificates</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Signatures on Certificates</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Statement of Stock Rights, Preferences, Privileges</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lost, Stolen or Destroyed Certificates</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">15</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Transfers of Stock</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">16</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fixing Record Date</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">16</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Registered Stockholders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">16</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE VI &#151; General Provisions</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>16</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dividends</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">16</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Payment of Dividends</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;3.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Checks</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;4.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Corporate Contracts and Instruments</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;5.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fiscal Year</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;6.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Manner of Giving Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;7.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Waiver of Notice</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">17</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left"><B>ARTICLE VII &#151; Amendments</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>18</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;1.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment by Directors</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">18</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;2.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Amendment by Stockholders</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">18</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;



<P align="center" style="font-size: 10pt">- ii -



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="right" style="font-size: 10pt">Exhibit&nbsp;3.2



<P align="center" style="font-size: 10pt"><B>BYLAWS<BR>
OF<BR>
BAKER HUGHES INCORPORATED</B>



<P align="center" style="font-size: 10pt"><B>ARTICLE I</B>



<P align="center" style="font-size: 10pt"><B>Offices</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Registered Office</U>. The registered office shall be in the City of
Wilmington, County of New Castle, State of Delaware.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Other Offices</U>. The Corporation may also have offices at such other places
both within and without the State of Delaware as the Board of Directors may from time to time
determine or the business of the Corporation may require.



<P align="center" style="font-size: 10pt"><B>ARTICLE II</B>



<P align="center" style="font-size: 10pt"><B>Meetings of Stockholders</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Place of Meetings</U>. All meetings of the stockholders shall be held at such
place, if any, either within or without the State of Delaware as shall be designated from time to
time by the Board of Directors and stated in the notice of the meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Annual Meetings of Stockholders</U>. An annual meeting of stockholders shall
be held at such date and time as may be determined from time to time by resolution adopted by the
Board of Directors, for the purpose of electing the directors of the Corporation, and transacting
such other business as may properly be brought before the meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Quorum; Adjourned Meetings and Notice Thereof</U>. A majority of the stock
issued and outstanding and entitled to vote at any meeting of stockholders, the holders of which
are present in person or represented by proxy, without regard to class or series, shall constitute
a quorum for the transaction of business except as otherwise provided by law, by the Certificate of
Incorporation, or by these Bylaws. If a separate vote by a class or classes or series is required,
a majority of the outstanding shares of such class or classes or series present in person or
represented by proxy shall constitute a quorum entitled to take action with respect to that vote on
that matter. A quorum, once established, shall not be broken by the withdrawal of enough votes to
leave less than a quorum and the votes present may continue to transact business until adjournment.
If, however, such quorum shall not be present or represented at any meeting of the stockholders, a
majority of the voting stock represented in person or by proxy may adjourn the meeting from time to
time, without notice other than announcement at the meeting, until a quorum shall be present or
represented. At such adjourned meeting at which a quorum shall be present or represented, any
business may be transacted which might have been transacted at the meeting as originally noticed.
If the adjournment is for more than 30&nbsp;days, or if after the



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<P align="left" style="font-size: 10pt">adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting
shall be given to each stockholder of record entitled to vote thereat.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Proxies</U>. At each meeting of the stockholders, each stockholder having the
right to vote may vote in person or may authorize another person or persons to act for him by proxy
authorized by an instrument in writing or by a transmission, including by telephone and electronic
transmission, permitted by law filed in accordance with the procedure established for the meeting.
Any copy, facsimile telecommunication or other reliable reproduction of the writing or transmission
created pursuant to this Section 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. Each stockholder shall have one vote
for each share of stock having voting power, registered in his name on the books of the Corporation
on the record date set by the Board of Directors as provided in Article&nbsp;V, Section&nbsp;6 hereof.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Special Meetings</U>. Special meetings of the stockholders, for any purpose,
or purposes, unless otherwise prescribed by statute or by the Certificate of Incorporation, may be
called at any time by the Board of Directors or by a committee of the Board of Directors which has
been duly designated by the Board of Directors and whose powers and authority, as provided in a
resolution of the Board of Directors or in these Bylaws, include the power to call such meetings.
Special meetings of stockholders of the Corporation may not be called by any other person or
persons. Business transacted at any special meeting of stockholders shall be limited to the
purposes stated in the notice.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Notice of Stockholders&#146; Meetings</U>. If mailed, notice to stockholders shall
be deemed given when deposited in the mail, postage prepaid, directed to the stockholder at such
stockholder&#146;s address as it appears on the records of the corporation. Without limiting the manner
by which notice otherwise may be given effectively to stockholders, any notice to stockholders may
be given by electronic transmission in the manner provided in, and subject to the provisions of,
Section&nbsp;232 of the Delaware General Corporation Law, as amended.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Waiver of Notice</U>. Attendance of a person at a meeting shall constitute a
waiver of notice to such person of such meeting, except when the person objects at the beginning of
the meeting to the transaction of any business because the meeting is not lawfully called or
convened.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Maintenance and Inspection of Stockholder List</U>. The officer or agent who
has charge of the stock ledger of the Corporation shall prepare and make, at least 10&nbsp;days before
every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting,
arranged in alphabetical order, and showing the address of each stockholder and the number of
shares registered in the name of each stockholder. 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 days prior to the meeting, in the manner provided by law. The list shall
also be produced and kept open at the time and place of the meeting during the whole time thereof,
and may be inspected by any stockholder who is present. The stock ledger of



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<P align="left" style="font-size: 10pt">the Corporation shall be the only evidence as to who are the stockholders entitled to examine such
list or to vote at any meetings of stockholders.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Stockholder Action by Written Consent Without a Meeting</U>. No action shall
be taken by stockholders except at an annual or special meeting of stockholders, and stockholders
may not act by written consent.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Inspectors of Election</U>. Before any meeting of stockholders, the Board of
Directors may appoint any persons other than nominees for office to act as inspectors of election
at the meeting or its adjournment. If no inspectors of election are so appointed, the chairman of
the meeting may, and on the request of any stockholder or a stockholder&#146;s proxy shall, appoint
inspectors of election at the meeting. The number of inspectors shall be either one or three. If
inspectors are appointed at a meeting on the request of one or more stockholders or proxies, the
holders of a majority of shares or their proxies present at the meeting shall determine whether one
or three inspectors are to be appointed. If any person appointed as inspector fails to appear or
fails or refuses to act, the chairman of the meeting may, and upon the request of any stockholder
or a stockholder&#146;s proxy shall, appoint a person to fill such vacancy.




<P align="left" style="margin-left:6%; font-size: 10pt">The duties of these inspectors shall be as follows:



<P align="left" style="margin-left:6%; font-size: 10pt">(a)&nbsp;To ascertain the number of shares outstanding and the voting power of each;



<P align="left" style="margin-left:6%; font-size: 10pt">(b)&nbsp;To determine the shares represented at a meeting and the validity of proxies and
ballots;



<P align="left" style="margin-left:6%; font-size: 10pt">(c)&nbsp;To count all votes and ballots;



<P align="left" style="margin-left:6%; font-size: 10pt">(d)&nbsp;To determine and retain for a reasonable period a record of the disposition of
any challenges made to any determination by the inspectors; and



<P align="left" style="margin-left:6%; font-size: 10pt">(e)&nbsp;To certify their determination of the number of shares represented at the
meeting and their count of all votes and ballots.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Procedure for Stockholders&#146; Meetings</U>. Meetings of the stockholders shall
be presided over by the Chairman of the Board of Directors, or in his absence, by the Chief
Executive Officer, the President or by any Vice President, or, in the absence of any of such
officers, by a chairman to be chosen by a majority of the stockholders entitled to vote at the
meeting who are present in person or by proxy. The Secretary, or, in his absence, any person
appointed by the chairman, shall act as secretary of all meetings of the stockholders.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Order of Business</U>. The order of business at all meetings of stockholders
shall be as determined by the chairman of the meeting. The chairman shall also determine the
procedure at the meeting, including such regulation of the manner of voting and the conduct of
discussion as seem to him or her in order. The chairman of the meeting shall have the power to
adjourn the meeting to another place, if any, date and time. The date and time of



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<P align="left" style="font-size: 10pt">the opening and closing of the polls for each matter upon which the stockholders will vote at the
meeting shall be announced at the meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Procedures for Bringing Business before an Annual Meeting</U>.
Notwithstanding anything in these Bylaws to the contrary, no business shall be conducted at an
annual meeting of the stockholders except in accordance with the procedures set forth in this
Section&nbsp;13; provided, however, that nothing in this Section&nbsp;13 shall be deemed to preclude
discussion by any stockholder of any business properly brought before the annual meeting in
accordance with such procedures.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At an annual meeting of the stockholders, only such business shall be conducted as shall have
been properly brought before the meeting. To be properly brought before an annual meeting, business
must be (1)&nbsp;specified in the notice of meeting (or any supplement thereto) given by or at the
direction of the Board, (2)&nbsp;otherwise properly brought before the meeting by or at the direction of
the Board, or (3)&nbsp;otherwise properly brought before the meeting by a stockholder. In addition to
any other applicable requirements, for business to be properly brought before an annual meeting by
a stockholder, the stockholder must have given timely notice thereof in writing to the Secretary of
the Corporation. To be timely, a stockholder&#146;s notice must be delivered to or mailed and received
at the principal executive offices of the Corporation not less than 120&nbsp;days in advance of the
first annual anniversary of the date of the Corporation&#146;s proxy statement released to stockholders
in connection with the previous year&#146;s annual meeting of stockholders, except that if no annual
meeting was held in the previous year or the date of the annual meeting has been changed by more
than 30 calendar days from the date contemplated at the time of the previous year&#146;s proxy
statement, notice by the stockholder to be timely must be so received not later than the close of
business on the tenth day following the day on which such notice of the date of the annual meeting
was mailed or such public disclosure was made. Any adjournment(s) or postponement(s) of the
original meeting whereby the meeting will convene or reconvene within 30&nbsp;days from the original
date shall be deemed for purposes of notice to be a continuation of the original meeting and no
business may be brought before any such meeting unless timely notice of such business was given to
the Secretary of the Corporation for the meeting as originally scheduled. A stockholder&#146;s notice to
the Secretary shall set forth as to each matter the stockholder proposes to bring before the annual
meeting (i)&nbsp;a brief description of the business desired to be brought before the annual meeting and
their reasons for conducting such business at the annual meeting, (ii)&nbsp;the name and record address
of the stockholder proposing such business, (iii)&nbsp;the class and number of shares of the Corporation
which are beneficially owned by the stockholders, and (iv)&nbsp;any material interest of the stockholder
in such business.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The chairman of an annual meeting shall, if the facts warrant, determine and declare to the
meeting that business was not properly brought before the meeting in accordance with the provisions
of this Section&nbsp;14, and if he should so determine, he shall so declare to the meeting and any such
business not properly brought before the meeting shall not be transacted.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14. <U>Procedures for Nominating Directors</U>. Notwithstanding anything in these
Bylaws to the contrary, only persons who are nominated in accordance with the procedures
hereinafter set forth in this Section&nbsp;14 shall be eligible for election as directors of the
Corporation.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominations of persons for election to the Board of Directors of the Corporation may be made
at the annual meeting of stockholders only (1)&nbsp;by or at the direction of the Board of Directors or
(2)&nbsp;by any stockholder of the Corporation entitled to vote for the election of directors at the
meeting who complies with the notice procedures set forth in this Section&nbsp;14. Such nominations,
other than those made by or at the direction of the Board of Directors, shall be made pursuant to
timely notice in writing to the Secretary of the Corporation. To be timely, a stockholder&#146;s notice
shall be delivered to or mailed and received at the principal executive offices of the Corporation
not less than 120&nbsp;days, nor more than 150&nbsp;days, in advance of the first annual anniversary of the
date of the Corporation&#146;s proxy statement released to stockholders in connection with the previous
year&#146;s annual meeting of stockholders, except that if no annual meeting was held in the previous
year or the date of the annual meeting has been changed by more than 30 calendar days from the date
contemplated at the time of the previous year&#146;s proxy statement, notice by the stockholder to be
timely must be so received not later than the close of business on the tenth day following the day
on which such notice of the date of the annual meeting was mailed or such public disclosure was
made. Any adjournment(s) or postponement(s) of the original meeting whereby the meeting will
convene or reconvene within 30&nbsp;days from the original date shall be deemed for purposes of notice
to be a continuation of the original meeting and no nominations by a stockholder of persons to be
elected directors of the Corporation may be made at any such meeting other than pursuant to a
notice that was timely for the meeting on the date originally scheduled. Such stockholder&#146;s notice
shall set forth: (i)&nbsp;as to each person whom the stockholder proposes to nominate for election or
re-election as a director, all information relating to such person that is required to be disclosed
in solicitations of proxies for election of directors, or is otherwise required, in each case
pursuant to Regulation&nbsp;14A under the Securities Exchange Act of 1934, as amended, or any successor
regulation thereto (including such person&#146;s written consent to being named in the proxy statement
as a nominee and to serving as a director if elected); and (ii)&nbsp;as to the stockholder giving notice
(A)&nbsp;the name and address, as they appear on the Corporation&#146;s books, of such stockholder, and (B)
the class and number of shares of the Corporation which are beneficially owned by such stockholder.
At the request of the Board of Directors, any person nominated by the Board of Directors for
election as a director shall furnish to the Secretary of the Corporation that information required
to be set forth in a stockholder&#146;s notice of nomination that pertains to the nominee.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominations of persons for election to the Board of Directors may be made at a special meeting
of stockholders at which directors are to be elected pursuant to the Corporation&#146;s notice of
meeting (i)&nbsp;by or at the direction of the Board of Directors or (ii)&nbsp;by any stockholder of record
of the Corporation who is a stockholder of record at the time of giving of notice provided for in
this paragraph, who shall be entitled to vote at the meeting and who complies with the notice
procedures set forth in this Section&nbsp;14 of this Article&nbsp;II. Nominations by stockholders of persons
for election to the Board of Directors may be made at such a special meeting of stockholders if the
stockholder&#146;s notice required by the second paragraph of Section&nbsp;14 of this Article&nbsp;II shall be
delivered to the Secretary of the Corporation at the principal executive offices of the Corporation
not later than the close of business on the later of the 90th day prior to such special meeting or
the 10th day following the day on which public disclosure is first made of the date of the special
meeting and of the nominees proposed by the Board of Directors to be elected at such meeting.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The chairman of the meeting shall, if the facts warrant, determine and declare to the meeting
that a nomination was not made in accordance with the procedures prescribed by this Section&nbsp;15, and
if he should so determine, he shall so declare to the meeting and the defective nomination shall be
disregarded.



<P align="center" style="font-size: 10pt"><B>ARTICLE III</B>



<P align="center" style="font-size: 10pt"><B>Directors</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Number and Qualification of Directors</U>. The Board of Directors shall
consist of 11 directors. No officer of the Corporation may serve on a board of directors of any
company having a present or retired employee on the Corporation&#146;s Board of Directors. No person
associated with an organization whose services are contracted by the Corporation shall serve on the
Corporation&#146;s Board of Directors; provided, however, that a majority of the members of the whole
Board may waive this prohibition if the Board in its judgment determines that such waiver would be
in the best interest of the Corporation. The term &#147;Whole Board&#148;, where used in these Bylaws,
refers to the 11 directors constituting the Board of Directors.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Election and Term of Office</U>. Each Director shall be elected for a term of
one year and shall hold office until such director&#146;s successor is elected and qualified or until
his earlier death, retirement, resignation or removal.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Resignation and Removal of Directors</U>. No person who is concurrently a
director and an employee of the Corporation shall be qualified to serve as a director of the
Corporation from and after the time of any diminution in such person&#146;s duties or responsibilities
as an officer, the time they leave the employ of the Corporation for any reason or their 72nd
birthday; provided, however, that if any such person resigns from the Board of Directors upon such
event, such person shall thereafter be deemed qualified to serve as a director of the Corporation
for so long as such person is otherwise qualified to so serve pursuant to the following sentence.
No person shall be qualified to serve as a director of the corporation on or after the date of the
annual meeting of stockholders following: (i)&nbsp;his 72nd birthday or (ii)&nbsp;any fiscal year in which he
has failed to attend at least 66% of the meetings of the Board of Directors and any committees of
the Board of Directors on which such director serves, provided that such a person shall be deemed
to be qualified to serve as a director if so determined by a majority of the members of the Whole
Board (excluding the director whose resignation would otherwise be required) if the Board in its
judgment determines that such waiver would be in the best interest of the Corporation. Any director
may be removed with or without cause by the holders of a majority of the shares of the Corporation
entitled to vote in the election of directors. The Board of Directors may not remove any director
with or without cause, and no recommendation by the Board of Directors that a director be removed
with or without cause may be made to the stockholders except by the affirmative vote of not less
than 75% of the members of the Whole Board.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Vacancies</U>. Except as otherwise provided by statute or the Certificate of
Incorporation, (i)&nbsp;in the case of any increase in the number of directors, such additional director
or directors shall be elected by a majority vote of the directors then in office, although less
than a quorum, or by a sole remaining director, or (ii)&nbsp;in the case of any vacancy in the Board of
Directors, however created, the vacancy or vacancies shall be filled by a majority vote of the
directors then in office, although less than a quorum, or by a sole remaining director.
Notwithstanding the preceding sentence of this Article&nbsp;III, Section&nbsp;4, if, by the affirmative vote
of a majority of the directors then in office the Board determines that a newly created
directorship or vacancy should be filled by the stockholders, the stockholders shall elect a
nominee to fill such newly created directorship or vacancy. In the event one or more directors
shall resign, effective at a future date, such vacancy or vacancies shall be filled as provided
herein. Directors so chosen or elected shall hold office until the annual meeting next following
his election or until his successor is elected and qualified or until his earlier death,
retirement, resignation or removal.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event of any decrease in the authorized number of directors, each director then serving
as such shall nevertheless continue as a director until the expiration of his current term, or his
prior death, retirement, resignation or removal.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Powers</U>. The property and business of the Corporation shall be managed by
or under the direction of its Board of Directors. In addition to the powers and authorities by
these Bylaws expressly conferred upon them, the Board may exercise all such powers of the
Corporation and do all such lawful acts and things as are not by statute, by the Certificate of
Incorporation or by these Bylaws directed or required to be exercised or done by the stockholders.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Place of Directors&#146; Meetings</U>. The directors may hold their meetings and
have one or more offices, and keep the books of the Corporation outside the State of Delaware.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Regular Meetings</U>. Regular meetings of the Board of Directors may be held
without notice at such time and place as shall from time to time be determined by the Board. Except
as otherwise provided by statute, any business may be transacted at any regular meeting of the
Board of Directors.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>Special Meetings</U>. Special meetings of the Board of Directors may be called
by the Chairman of the Board or the Chief Executive Officer on at least 24 hours&#146; notice, or such
shorter period as the person calling deems appropriate, to each director. Special meetings shall
be called by the Chairman of the Board, the Chief Executive Officer or the Secretary in like manner
and on like notice on the written request of a majority of the total number of directors.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Quorum</U>. At all meetings of the Board of Directors a majority of the
authorized number of directors shall be necessary and sufficient to 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, shall be the act of the Board of Directors, except as may be otherwise
specifically provided by statute, by the Certificate of Incorporation or by these Bylaws. 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. If only one director is authorized, such sole director shall
constitute a quorum. A meeting at which a quorum is initially present may continue to transact
business notwithstanding the withdrawal of directors, if any action is approved by at least a
majority of the required quorum for such meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Action Without Meeting</U>. Unless otherwise restricted by statute, the
Certificate of Incorporation or these Bylaws, 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 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
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.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Telephonic Meetings</U>. Unless otherwise restricted by the Certificate of
Incorporation or these Bylaws, members of the Board of Directors, or any committee designated by
the Board of Directors, may participate in a meeting of the Board of Directors, or any committee,
by means of conference telephone or similar communications equipment by means of which all persons
participating in a meeting can hear each other, and such participation in a meeting shall
constitute presence in person at such meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Meetings and Action of Committees</U>. The Board of Directors may from time
to time designate committees of the Board of Directors, with such lawfully delegable powers and
duties as it thereby confers, to serve at the pleasure of the Board of Directors and shall, for
those committees and any others provided for herein, elect a director or directors to serve as the
member or members, designating, if it desires, other directors as alternate members who may replace
any absent or disqualified member at any meeting of the committee. In the absence or
disqualification of any member of any committee and any alternate member in his or her place, the
member or members of the committee present at the meeting and not disqualified from voting, whether
or not he or she or they constitute a quorum, may by unanimous vote appoint another member of the
Board of Directors to act at the meeting in the place of the absent or disqualified member. The
Board of Directors shall, by resolution passed by a majority of the Whole Board, designate one
member of each committee as chairman of such committee. Each such chairman shall hold such office
for a period not in excess of five years, and shall upon surrender of such chairmanship resign from
membership on such committee. Any such committee, to the extent provided in the resolution of the
Board of Directors, 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, and may authorize the
seal of the corporation to be affixed to all papers which may require it; but no such committee
shall have the power or authority in reference to the following



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<P align="left" style="font-size: 10pt">matters: (i)&nbsp;approving or adopting, or recommending to the stockholders, any action or matter
expressly required by the Delaware General Corporation Law (other than the election of directors)
to be submitted to stockholders for approval or (ii)&nbsp;adopting, amending or repealing any bylaw of
the Corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Special Meetings of Committees</U>. Special meetings of committees may be
called by the Chairman of such committee, the Chairman of the Board or the Chief Executive Officer,
on at least 24 hours&#146; notice, or such shorter period as the person calling deems appropriate, to
each member. Alternate members shall have the right to attend all meetings of the committee. The
Board of Directors may adopt rules of the government of any committee not inconsistent with the
provisions of these Bylaws. If a committee is comprised of an odd number of members, a quorum shall
consist of a majority of that number. If the committee is comprised of an even number of members, a
quorum shall consist of 1/2 of that number. If a committee is comprised of two members, a quorum
shall consist of both members; all matters shall be determined by a majority vote of the members
present. Action may be taken by any committee without a meeting if all the members thereof consent
thereto in writing or by electronic transmission, and the writing or writings or electronic
transmission or transmissions are filed with the minutes of the proceedings of such committee.
Such filing shall be in paper form if the minutes are maintained in paper form and shall be
electronic form if the minutes are maintained in electronic form.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14. <U>Minutes of Committee Meetings</U>. Each Committee shall keep regular minutes
of its meetings and report the same to the Board of Directors when requested.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;15. <U>Compensation of Directors</U>. Unless otherwise restricted by the Certificate
of Incorporation or these Bylaws, the Board of Directors shall have the authority to fix the
compensation of directors. The directors may be paid their expenses, if any, of attendance at each
meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the
Board of Directors or a stated salary as director. No such payment shall preclude any director from
serving the Corporation in any other capacity and receiving compensation therefor. Members of
special or standing committees may be allowed like compensation for attending committee meetings.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16. <U>Indemnification</U>. (a)&nbsp;The Corporation shall indemnify every person who is
or was a party or is or was threatened to be made a party to 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 he is or was a
director, officer or employee of the Corporation or any of its direct or indirect wholly owned
subsidiaries or, while a director, officer or employee of the Corporation or any of its direct or
indirect wholly owned subsidiaries, is or was serving at the request of the Corporation or any of
its direct or indirect wholly owned subsidiaries, as a director, officer or employee, of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against
expenses (including counsel fees), judgments, fines, and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or proceeding, to the full extent
permitted by applicable law; provided that the Corporation shall not be obligated to indemnify any
such person against any such action, suit or proceeding which is brought by such person



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<P align="left" style="font-size: 10pt">against the Corporation or any of its direct or indirect wholly owned subsidiaries or the directors
of the Corporation or any of its direct or indirect wholly owned subsidiaries, other than an action
brought by such person to enforce his rights to indemnification hereunder, unless a majority of the
Board of Directors of the Corporation shall have previously approved the bringing of such action,
suit or proceeding, and provided further that the Corporation shall not be obligated to indemnify
any such person against any action, suit or proceeding arising out of any adjudicated criminal,
dishonest or fraudulent acts, errors or omissions of such person or any adjudicated willful,
intentional or malicious acts, errors or omissions of such person.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Corporation shall indemnify every person who is or was a party or is or was threatened
to be made a party to any threatened, pending or completed action, suit, or proceeding, whether
civil, criminal, administrative or investigative, by reason of the fact that he is or was licensed
to practice law and an employee (including an employee who is or was an officer) of the Corporation
or any of its direct or indirect wholly owned subsidiaries and, while acting in the course of such
employment committed or is alleged to have committed any negligent acts, errors or omissions in
rendering professional legal services at the request of the Corporation or pursuant to his
employment (including, without limitation, rendering written or oral legal opinions to third
parties) against expenses (including counsel fees), judgments, fines, and amounts paid in
settlement actually and reasonably incurred by him in connection with such action, suit or
proceeding, to the full extent permitted by applicable law; provided that the Corporation shall not
be obligated to indemnify any such person against any action, suit or proceeding arising out of any
adjudicated criminal, dishonest or fraudulent acts, errors or omissions of such person or any
adjudicated willful, intentional or malicious acts, errors or omissions of such person.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Corporation shall indemnify every person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action or suit by or in the right of the
Corporation to procure a judgment in its favor by reason of the fact that he is or was a director,
officer, or employee of the Corporation, or any of its direct or indirect wholly owned subsidiaries
or, while a director, officer, or employee of the Corporation or any of its direct or indirect
wholly owned subsidiaries, is or was serving at the request of the Corporation or any of its direct
or indirect wholly owned subsidiaries, as a director, officer, or employee of another corporation,
partnership, joint venture, trust, employee benefit plan, or other enterprise against expenses
(including attorneys&#146; fees) actually and reasonably incurred by him in connection with the defense
or settlement of such action or suit if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Corporation and 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 to the Corporation unless and only to the extent that the
Court of Chancery or the court in which such action or suit was brought shall determine upon
application that, despite the adjudication of liability but in view of all the circumstances of the
case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court
of Chancery or such other court shall deem proper.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;To the extent that a director, officer, or employee of the Corporation, or any of its
direct or indirect wholly owned subsidiaries, has been successful on the merits or otherwise in
defense of any action, suit or proceeding referred to in subsections (a), (b)&nbsp;and (c)&nbsp;of this



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<P align="left" style="font-size: 10pt">section, or in defense of any claim, issue or matter therein, he shall be indemnified against
expenses (including attorneys&#146; fees) actually and reasonably incurred by him in connection
therewith.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Any indemnification under subsections (a), (b)&nbsp;and (c)&nbsp;of this section (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 director, officer, or employee is proper in the
circumstances because he has met the applicable standard of conduct set forth in subsections (a),
(b)&nbsp;and (c)&nbsp;of this section. Such determination shall be made (1)&nbsp;by a majority vote of the
directors who were not parties to such action, suit or proceeding, (2)&nbsp;by a committee or such
directors designated by majority vote of such directors even though less than a quorum, or (3)&nbsp;if
there are no such directors, or if such directors so direct, by independent legal counsel in a
written opinion, or (4)&nbsp;by the stockholders. If a claim under this Section&nbsp;16 is not paid in full
by the Corporation within 60&nbsp;days after a written claim 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 20&nbsp;days, the indemnitee 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 indemnitee shall be entitled to be paid also the expense of prosecuting or
defending such suit. In (i)&nbsp;any suit brought by the indemnitee to enforce a right to
indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an
advancement of expenses) it shall be a defense that, and (ii)&nbsp;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
indemnitee has not met any applicable standard for indemnification set forth in the Delaware
General Corporation Law. 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 indemnitee is proper in the circumstances because the indemnitee has met the
applicable standard of conduct set forth in the Delaware General Corporation Law, nor an actual
determination by the Corporation (including its directors who are not parties to such action, a
committee of such directors, independent legal counsel, or its stockholders) that the indemnitee
has not met such applicable standard of conduct, shall create a presumption that the indemnitee has
not met the applicable standard of conduct or, in the case of such a suit brought by the
indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right to
indemnification or to an advancement of expenses hereunder, or brought by the Corporation to
recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving
that the indemnitee is not entitled to be indemnified, or to such advancement of expenses, under
this Section&nbsp;16 or otherwise shall be on the Corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Expenses (including attorneys&#146; fees) incurred by an present or former officer or director
of the Corporation or any of its direct or indirect wholly owned subsidiaries in defending a civil,
criminal, administrative or investigative action, suit or proceeding shall be paid by the
Corporation in advance of the final disposition of such action, suit or proceeding upon receipt of
an undertaking by or on behalf of such director or officer to repay such amount if it shall
ultimately be determined that he is not entitled to be indemnified by the Corporation as



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<P align="left" style="font-size: 10pt">authorized in this Section&nbsp;16. Such expenses incurred by other employees and agents may be so paid
upon such terms and conditions, if any, as the Board of Directors deems appropriate.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;The indemnification and advancement of expenses provided by, or granted pursuant to, this
Section&nbsp;16 shall not be deemed exclusive of any other rights to which those seeking indemnification
or advancement of expenses may be entitled under any provision of law, the Corporation&#146;s
Certificate of Incorporation, the Certificate of Incorporation or Bylaws or other governing
documents of any direct or indirect wholly owned subsidiary of the Corporation, or any agreement,
vote of stockholders or disinterested directors or otherwise, both as to action in his official
capacity and as to action in another capacity while holding any of the positions or having any of
the relationships referred to in this Section&nbsp;16.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;The indemnification and advancement of expenses provided by, or granted pursuant to, this
Section&nbsp;16 shall, unless otherwise provided when authorized or ratified, continue as to a person
who has ceased to be a director, officer or employee and shall inure to the benefit of the heirs,
executors and administrators of such a person.



<P align="center" style="font-size: 10pt"><B>ARTICLE IV</B>



<P align="center" style="font-size: 10pt"><B>Officers</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Officers</U>. The officers of the Corporation shall be a Chairman of the
Board, a Chief Executive Officer, a President, a Chief Financial Officer, a Vice President, a
Secretary, a Treasurer and a Controller. The Corporation may also have, at the discretion of the
Board of Directors, a Chief Operating Officer, one or more additional Vice Presidents, and such
other officers as may be appointed in accordance with the provisions of Section&nbsp;3 of this Article.
Any two (2)&nbsp;or more offices may be held by the same person.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Election of Officers</U>. The officers of the Corporation, except such
officers as may be appointed in accordance with the provisions of Section&nbsp;3 or Section&nbsp;5 of this
Article, shall be chosen by the Board of Directors, and each shall serve at the pleasure of the
Board, subject to the rights, if any, of any officer under any contract of employment.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Subordinate Officers</U>. The Board of Directors may appoint, and may empower
the Chief Executive Officer to appoint, such other officers as the business of the Corporation may
require, each of whom shall hold office for such period, have such authority and perform such
duties as are provided in the Bylaws or as the Board of Directors may from time to time determine.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Removal and Resignation of Officers</U>. Any officer may be removed, either
with or without cause, by the Board of Directors, at any regular or special meeting thereof, or
except in case of an officer chosen by the Board of Directors, by any officer upon whom such power
of removal may be conferred by the Board of Directors, provided that such removal shall not
prejudice the remedy of such officer for breach of any contract of employment.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any officer may resign at any time by giving written notice to the Corporation. Any such
resignation shall take effect on receipt of such notice or at any later time specified therein.
Unless otherwise specified therein, the acceptance of such resignation shall not be necessary to
make it effective. Any such resignation is without prejudice to the rights, if any, of the
Corporation under any contract to which the officer is a party.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Vacancies in Offices</U>. A vacancy in any office because of death,
resignation, removal, disqualification or any other cause shall be filled in the manner prescribed
in these Bylaws for regular appointments to such office.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Chairman of the Board</U>. The Chairman of the Board shall, if present,
preside at all meetings of the Board of Directors and of the stockholders, and shall exercise and
perform such other powers and duties as may be from time to time assigned to him by the Board of
Directors or prescribed by the Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Chief Executive Officer</U>. The Chief Executive Officer shall, subject to the
control of the Board of Directors, have general supervision, direction and control of the business
and officers, other than the Chairman of the Board of the Corporation with all such powers as may
be reasonably incident to such responsibilities. He shall perform all other duties normally
incident to the office of Chief Executive Officer, and shall have such other powers and perform
such other duties as may be prescribed by the Board of Directors or the Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;8. <U>President</U>. The President shall be the Chief Operating Officer of the
Corporation and shall, subject to the control of the Chief Executive Officer and the Board of
Directors, have general supervision, direction and control of the business and the officers, other
than the Chairman of the Board, of the Corporation. In the absence of the Chairman of the Board,
the Chief Executive Officer, the President shall preside at all meetings of the stockholders and
the Board of Directors. He shall have the general powers and duties of management usually vested in
the office of President of a corporation, and shall have such other powers and duties as may be
prescribed by the Chief Executive Officer, the Board of Directors or the Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise directed by the Board of Directors, the President or any officer of the
Corporation authorized by the President shall have power to vote and otherwise act on behalf of the
Corporation, in person or by proxy, at any meeting of stockholders of or with respect to any action
of stockholders of any other corporation in which this Corporation may hold securities and
otherwise to exercise any and all rights and powers which this Corporation may possess by reason of
its ownership of securities in such other corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;9. <U>Chief Operating Officer</U>. The Chief Operating Officer of the Corporation
shall have general management of the business unit operations of the Corporation, subject to the
direction and control of the Chief Executive Officer and the Board of Directors. The Chief
Operating Officer shall sign all papers and documents to which such officer&#146;s signature may be
necessary or appropriate in connection with the operations of the Corporation, make reports to the
Board of Directors or the Chief Executive Officer and have such further powers and duties as may,
from time to time, be prescribed by the Board of Directors or the Chief Executive Officer.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;10. <U>Vice Presidents</U>. If there be more than one Vice President, the Board of
Directors may designate one or more of them as Executive Vice President or Senior Vice President
among the Vice Presidents and may also grant to such officers and other Vice Presidents such titles
as shall be descriptive of their respective functions or indicative of their relative seniority.
In the absence or disability of the President, the Vice Presidents, if any, in order of their rank
as fixed by the Board of Directors, or if not ranked, the Vice President designated by the
President, shall perform all the duties of the President, and when so acting shall have all the
powers of, and be subject to all the restrictions upon, the President. The Vice Presidents shall
have such other powers and perform such other duties as from time to time may be prescribed for
them respectively by the Board of Directors, these Bylaws or the President.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;11. <U>Secretary</U>. The Secretary shall keep or cause to be kept, at the principal
office or such other place as the Board of Directors may order, a book of minutes of all meetings
and actions of directors, committees of directors and stockholders, with the time and place of
holding, whether regular or special, and, if special, how authorized, the notice thereof
given, the names of those present at directors&#146; and committee meetings, the number of shares
present or represented at stockholders&#146; meetings, and the proceedings thereof.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Secretary shall keep, or cause to be kept, at the principal office or at the office of the
Corporation&#146;s transfer agent or registrar, a share register, or a duplicate share register, showing
the names of all stockholders and their addresses, the number and classes of shares held by each,
the number and date of certificates issued for the same, and the number and date of cancellation of
every certificate surrendered for cancellation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Secretary shall give, or cause to be given, notice of all meetings of the stockholders and
of the Board of Directors required by these Bylaws or by law to be given, and he shall keep the
seal of the Corporation, if one be adopted, in safe custody, and shall have such other powers and
perform such other duties as may be prescribed by the Board of Directors or by the Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;12. <U>Chief Financial Officer</U>. The Chief Financial Officer shall keep and
maintain, or cause to be kept and maintained, adequate and correct books and records of accounts of
the properties and business transactions of the Corporation, including accounts of its assets,
liabilities, receipts, disbursements, gains, losses, capital, retained earnings and shares. The
books of account shall be open at all times to inspection by any director.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Chief Financial Officer shall deposit all moneys and other valuables in the name and to
the credit of the Corporation with such depositories as may be designated by the Board of
Directors. He shall disburse the funds of the Corporation as may be ordered by the Board of
Directors, shall render to the Chief Executive Officer, President and Directors, whenever they
request it, an account of all of his transactions as Chief Financial Officer and of the financial
condition of the Corporation, and shall have other powers and perform such other duties as may be
prescribed by the Board of Directors or the Bylaws.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;13. <U>Treasurer and Controller</U>. The Treasurer and the Controller shall each
have such powers and perform such duties as from time to time may be prescribed for him by the
Board of Directors, the President or these Bylaws.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14. D<U>elegation of Authority</U>. The Board of Directors may from time to time<U>
</U>delegate the powers or duties of any officer to any other officers or agents, notwithstanding
any provision hereof.



<P align="center" style="font-size: 10pt"><B>ARTICLE V</B>



<P align="center" style="font-size: 10pt"><B>Certificate of Stock</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Certificates</U>. Shares of the stock of the Corporation may be represented by
certificates or uncertificated. Owners of shares of the stock of the Corporation shall be recorded
in the share register of the Corporation, and ownership of such shares shall be evidenced by a
certificate or book-entry notation in the share register of the Corporation. Any certificates
representing such shares shall be signed by, or in the name of the Corporation by, the Chairman of
the Board of Directors, or the President or a Vice President, and by the Secretary or any Assistant
Secretary, if one be appointed, or the Treasurer or an Assistant Treasurer of the Corporation,
certifying the number of shares represented by the certificate owned by such stockholder in the
Corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Signature on Certificates</U>. Any or all of 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, it may be issued by the Corporation
with the same effect as if he were such officer, transfer agent or registrar at the date of issue.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Statement of Stock Rights, Preferences, Privileges</U>. If the Corporation
shall be authorized to issue more than one class of stock or more than one series of any class, the
powers, designations, preferences and relative, participating, optional or other special rights of
each class of stock or series thereof and the qualification, limitations or restrictions of such
preferences and/or rights shall be set forth in full or summarized on the face or back of the
certificate which the Corporation shall issue to represent such class or series of stock, provided
that, except as otherwise provided by statute, in lieu of the foregoing requirements, there may be
set forth on the face or back of the certificate which the Corporation shall issue to represent
such class or series of stock, 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 and/or rights.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Lost, Stolen or Destroyed Certificates</U>. The Board of Directors, the
Secretary and the Treasurer each may direct a new certificate or certificates to be issued in place
of any certificate or certificates theretofore issued by the Corporation alleged to have been lost,
stolen or destroyed, upon the making of an affidavit of that fact by the owner of such certificate,



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<P align="left" style="font-size: 10pt">or his legal representative. When authorizing such issue of a new certificate or certificates, the
Board of Directors may, in its discretion and as a condition precedent to the issuance thereof,
require the owner of such lost, stolen or destroyed certificate or certificates, or his legal
representative, to advertise the same in such manner as it shall require and/or to furnish the
Corporation a bond in such form and substance and with such surety as it may direct as indemnity
against any claim that may be made against the Corporation with respect to the certificate alleged
to have been lost, stolen or destroyed.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Transfers of Stock</U>. Upon surrender to the Corporation, or the transfer
agent of the Corporation, of a certificate for shares duly endorsed or accompanied by proper
evidence of succession, assignation or authority to transfer, it shall be the duty of the
Corporation to issue a new certificate or other evidence of such new shares to the person entitled
thereto, cancel the old certificate and record the transaction upon its books. Uncertificated
shares shall be transferred in the share register of the Corporation upon the written instruction
originated by the appropriate person to transfer the shares.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Fixing Record Date</U>. In order that the Corporation may determine the
stockholders entitled to notice of or to vote at any meeting of the stockholders, or any
adjournment thereof, or entitled to receive payment of any dividend or other distribution or
allotment of any rights, or 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 of Directors may fix a
record date which shall not be more than 60 nor less than 10&nbsp;days before the date of such meeting,
nor more than 60&nbsp;days prior to any other action. 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 of Directors may fix a new record date for the adjourned meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Registered Stockholders</U>. The Corporation shall be entitled to treat the
holder of record of any share or shares of stock as the holder in fact thereof and, accordingly,
shall not be bound to recognize any equitable or other claim or interest in such share on the part
of any other person, whether or not it shall have express or other notice thereof, save as
expressly provided by the laws of the State of Delaware.



<P align="center" style="font-size: 10pt"><B>ARTICLE VI</B>



<P align="center" style="font-size: 10pt"><B>General Provisions</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Dividends</U>. Dividends upon the capital stock of the Corporation, subject to
the provisions of the Certificate of Incorporation, if any, may be declared by the Board of
Directors at any regular or special meeting, pursuant to law. Dividends may be paid in cash, in
property or in shares of the Corporation&#146;s capital stock, subject to the provisions of the
Certificate of Incorporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Payment of Dividends</U>. Before declaration of any dividend, there may be set
aside out of any funds of the Corporation available for dividends such sum or sums as



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<P align="left" style="font-size: 10pt">the Board of Directors from time to time, in its absolute discretion, thinks proper as a reserve
fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any
property of the Corporation, or for such other purpose as the Board of Directors shall think
conducive to the interests of the Corporation, and the Board of Directors may thereafter abolish
any such reserve in its absolute discretion.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;3. <U>Checks</U>. All checks, drafts or other orders for payment of money, notes or
other evidences of indebtedness, issued in the name of or payable to the Corporation shall be
signed by such officer or officers as the Board of Directors or the President or any Vice
President, acting jointly, may from time to time designate.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;4. <U>Corporate Contracts and Instruments</U>. The Chief Executive Officer, the
President, any Vice President, the Secretary or the Treasurer may enter into contracts and execute
instruments on behalf of the Corporation. The Board of Directors, the President or any Vice
President may authorize any officer or officers, and any employee or employees or agent or agents
of the Corporation or any of its subsidiaries, to enter into any contract or execute any instrument
in the name of and on behalf of the Corporation, and such authority may be general or confined to
specific instances.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;5. <U>Fiscal Year</U>. The fiscal year of the Corporation shall be January 1 through
December&nbsp;31, unless otherwise fixed by resolution of the Board of Directors.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;6. <U>Manner of Giving Notice</U>. Whenever, under the provisions of the statutes,
the Certificate of Incorporation or these Bylaws, notice is required to be given to any director,
it shall not be construed to require personal notice, but such notice may be given in writing, by
mail, addressed to such director, at his address as it appears on the records of the Corporation
(unless prior to mailing of such notice he shall have filed with the Secretary a written request
that notices intended for him be mailed to some other address, in which case such notice shall be
mailed to the address designated in the request) 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;
provided, however, that, in the case of notice of a special meeting of the Board of Directors, if
such meeting is to be held within seven calendar days after the date of such notice, notice shall
be deemed given as of the date such notice shall be accepted for delivery by a courier service that
provides &#147;opening of business next day&#148; delivery, so long as at least one attempt shall have been
made, on or before the date such notice is accepted for delivery by such courier service, to
provide notice by telephone to each director at his principal place of business and at his
principal residence. Notice to directors may also be given by telegram, by personal delivery, by
telephone, by facsimile or by other electronic transmission.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;7. <U>Waiver of Notice</U>. Whenever any notice is required to be given under the
provisions of the statutes, the Certificate of Incorporation or these Bylaws, a waiver thereof in
writing, signed by the person or persons entitled to said notice, or waiver by electronic
transmission by such person, whether before or after the time stated therein, shall be deemed
equivalent thereto.



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<P align="center" style="font-size: 10pt"><B>ARTICLE VII</B>



<P align="center" style="font-size: 10pt"><B>Amendments</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;1. <U>Amendment by Directors</U>. Except any amendment to this Article&nbsp;VII and to
Article&nbsp;II, Section&nbsp;5, Article&nbsp;II, Section&nbsp;9, Article&nbsp;III, Section&nbsp;1 (as it relates to changes in
the number of directors), Article&nbsp;III, Section&nbsp;2, the last sentence of Article&nbsp;III, Section&nbsp;3 (as
it relates to removal of directors), Article&nbsp;III, Section&nbsp;4, Article&nbsp;III, Section&nbsp;16 and Article
VI, Section&nbsp;6 of these Bylaws, or any of such provisions, which shall require approval by the
affirmative vote of directors representing at least 75% of the number of directors provided for in
accordance with Article&nbsp;III, Section&nbsp;1, the directors, by the affirmative vote of a majority of the
Whole Board and without the assent or vote of the stockholders, may at any meeting, make, repeal,
alter, amend or rescind any of these Bylaws, provided the substance of the proposed amendment or
other action shall have been stated in a notice of the meeting.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;2. <U>Amendment by Stockholders</U>. These Bylaws may not be altered, amended or
rescinded, and new Bylaws may not be adopted, by the stockholders of the Corporation except by the
vote of the holders of not less than 75% of the total voting power of all shares of stock of the
Corporation entitled to vote in the election of directors, considered for such purpose as one
class.




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