<SEC-DOCUMENT>0000891092-18-009194.txt : 20181214
<SEC-HEADER>0000891092-18-009194.hdr.sgml : 20181214
<ACCEPTANCE-DATETIME>20181214164509
ACCESSION NUMBER:		0000891092-18-009194
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181211
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181214
DATE AS OF CHANGE:		20181214

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OMNICOM GROUP INC.
		CENTRAL INDEX KEY:			0000029989
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				131514814
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10551
		FILM NUMBER:		181236091

	BUSINESS ADDRESS:	
		STREET 1:		437 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		2124153600

	MAIL ADDRESS:	
		STREET 1:		437 MADISON AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OMNICOM GROUP INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOYLE DANE BERNBACH GROUP INC
		DATE OF NAME CHANGE:	19861117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DOYLE DANE BERNBACH INTERNATIONAL INC
		DATE OF NAME CHANGE:	19850604
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e3252-8k.htm
<DESCRIPTION>CURRENT REPORT
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 24pt; margin-bottom: 0.25in; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Date of Report (Date of earliest event reported)<B>
December 11, 2018</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>OMNICOM GROUP INC.</B><BR>
<FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified in Charter) </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 35%; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>New York </B></FONT><BR>
<FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of Incorporation)</FONT></TD>
    <TD STYLE="width: 2%; padding: 0.75pt; font-size: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;1-10551</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="width: 2%; padding: 0.75pt; font-size: 12pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 31%; padding: 0.75pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;13-1514814</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>437 Madison Avenue, New York, NY</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt"><B>10022</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&#8217;s telephone number, including
area code<B> (212) 415-3600 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Not Applicable</B></FONT><BR>
<FONT STYLE="font-size: 10pt">(Former Name or Former Address, if Changed Since Last Report)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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 (<U>see</U> General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 96%; padding-left: 4.15pt"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 96%; padding-left: 4.15pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 96%; padding-left: 4.15pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b)) </FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Wingdings">o</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt">&nbsp;</TD>
    <TD STYLE="width: 96%; padding-left: 4.15pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is an emerging growth
company as defined in as defined in Rule 405 of the Securities Act of 1933 (&sect; 230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&sect; 240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Emerging growth company <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 5.03. Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 11, 2018, the Board of Directors (the &#8220;Board&#8221;)
of Omnicom Group Inc. (the &#8220;Company&#8221;) adopted an amendment and restatement of the Company&#8217;s by-laws (the &#8220;By-laws&#8221;)
to lower the threshold required for calling a special meeting of shareholders. Article I, Section 4 has been amended to lower the
ownership threshold required for calling a special meeting of shareholders from twenty-five percent (25%) to ten percent (10%)
of the combined voting power of the outstanding capital stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The foregoing summary does not purport to be complete and is qualified
in its entirety by reference to the full text of the By-laws, as amended, a copy of which is filed as Exhibit 3.1 to this report
and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Exhibit&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 82%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Document Description&nbsp;&nbsp;&nbsp;</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><A HREF="e3252ex3-1.htm">3.1</A></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">By-laws of Omnicom Group Inc., as amended and restated on December 11, 2018. </FONT></TD></TR>
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<BR>
&nbsp;
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Omnicom Group Inc. </FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="width: 52%"><FONT STYLE="font-size: 10pt"><B>Date: December 14, 2018</B></FONT></TD>
    <TD STYLE="width: 5%; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="width: 43%; font-size: 12pt">&nbsp;</TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>By: </B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 9.3pt"><FONT STYLE="font-size: 10pt">/s/ Michael J. O&#8217;Brien &nbsp;</FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="padding-left: 9.3pt"><FONT STYLE="font-size: 10pt">Michael J. O&#8217;Brien </FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: </FONT></TD>
    <TD STYLE="padding-left: 9.3pt"><FONT STYLE="font-size: 10pt">Senior Vice President, General Counsel and Secretary</FONT></TD></TR>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>e3252ex3-1.htm
<DESCRIPTION>BY-LAWS OF OMNICOM GROUP INC.
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>BY-LAWS</B><BR>
<B>OF</B><BR>
<B>OMNICOM GROUP INC.</B><BR>
<B>A NEW YORK CORPORATION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>(AS AMENDED AND
RESTATED DECEMBER 11, 2018)</B></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
I.<BR>
<BR>
MEETINGS OF SHAREHOLDERS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Place of Meetings</U>.
All meetings of the shareholders of the Corporation will be held at such places, within or outside of the State of New York, as
may be fixed from time to time by the Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Annual Meeting</U>. Commencing
in the year 1988, the annual meeting of shareholders will be held on such date and at such time as may be fixed by the Board of
Directors. At each annual meeting of shareholders the shareholders will elect directors and transact such other business as may
properly be brought before the meeting. No shareholder shall have any right to bring a matter before the shareholders for a vote
at the annual meeting of shareholders, unless such shareholder shall have given the Secretary of the Corporation written notice
of his intention to do so not less than 60 days prior to the date set for the annual meeting. Such notice shall include the name
and address of the shareholder proposing to bring such matter before such meeting, identify the matter proposed to be brought before
the meeting and disclose the shareholder&rsquo;s interest in the proposed matter. No shareholder shall have any right to propose
or nominate a nominee for election to the Board of Directors of the Corporation, unless (a) such shareholder is an Eligible Shareholder
(as defined below) and shall have submitted a Proxy Access Notice (as defined below) and satisfied all terms and conditions set
forth in Section 10 of this Article or (b) such shareholder shall have given the Secretary of the Corporation written notice of
his intention to do so not less than 60 days before the date set for the annual meeting and satisfies the notice requirements of
this Section 2. Such notice shall include as to each nominee and such shareholder (i) the information as to such nominee and shareholder
that would be required to be included in a proxy statement under the proxy rules of the Securities and Exchange Commission (the
&ldquo;Commission&rdquo;) if such shareholder were to solicit proxies from all shareholders of the Corporation for the election
of such nominee as a director and such solicitation were one to which Rules 14a-3 to 14a-12 under the Securities Exchange Act of
1934, as amended (the &ldquo;Exchange Act&rdquo;), apply and (ii) the information as to such nominee and shareholder specified
in Schedule 14B under the proxy rules of the Commission. If, at any such meeting, a shareholder gives notice of intention to propose
that action be taken which would, if taken, entitle shareholders fulfilling the requirements of Section 623 of the Business Corporation
Law of New York (relating to the procedure to enforce a shareholder&rsquo;s right to receive payment for his shares) to receive
payment for their shares, such notice shall include a statement to that effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Notice of Annual
Meeting</U>. Written notice of each annual meeting of shareholders stating the place, date and hour of the meeting, will be
given in the manner set forth </P>



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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0">in Article IV of these By-Laws not less than ten nor more than fifty days before the date of
the meeting to each shareholder entitled to vote at the meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Special Meetings</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Special meetings of shareholders may be called at any time for any purpose or purposes, by the Board of Directors or the
President, and shall be called by the President or the Secretary upon the written request of a majority of the Board of Directors.
A special meeting of shareholders shall be called by the Secretary upon the written request of the record holders of at least ten
percent (10%) of the combined voting power of the outstanding capital stock of the Corporation (the &ldquo;Requisite Percent&rdquo;),
subject to Subsection (b) of this Section 4 (a &ldquo;Shareholder Requested Special Meeting&rdquo;). A request shall state the
purpose or purposes of the proposed meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In order for a Shareholder Requested Special Meeting to be called, one or more requests for a special meeting (each, a &ldquo;Shareholder
Special Meeting Request,&rdquo; and collectively, the &ldquo;Shareholder Special Meeting Requests&rdquo;) must be signed by the
Requisite Percent of record holders (or their duly authorized agents) and must be delivered to the Secretary. The Shareholder Special
Meeting Request(s) shall be delivered to the Secretary at the principal executive offices of the Corporation by registered mail,
return receipt requested. Each Shareholder Special Meeting Request shall (i) set forth a statement of the specific purpose(s) of
the meeting and the matters proposed to be acted upon at such meeting, (ii) bear the date of signature of each such shareholder
(or duly authorized agent) signing the Shareholder Special Meeting Request, (iii) set forth (A) the name and address, as they appear
in the Corporation&rsquo;s stock ledger, of each shareholder signing such request (or on whose behalf the Shareholder Special Meeting
Request is signed), (B) the class, if applicable, and the number of shares of capital stock of the Corporation that are owned of
record and beneficially by each such shareholder and (C) include documentary evidence of such shareholder&rsquo;s record and beneficial
ownership of such stock and (iv) set forth all information relating to each such shareholder as required by Article I, Section
2(i) and (ii) of these By-laws. Any requesting shareholder may revoke his, her or its request for a special meeting at any time
by written revocation delivered to the Secretary at the principal executive offices of the Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The
Secretary shall not be required to call a special meeting of shareholders if (i) the Board of Directors calls an annual or
special meeting of shareholders to be held not later than sixty (60) days after the date on which a valid Shareholder
Special Meeting Request or Shareholder Special Meeting Requests have been delivered to the Secretary (the &ldquo;Delivery
Date&rdquo;), or (ii) the Shareholder Special Meeting Request or Shareholder Special Meeting Requests (A) are received by the
Secretary during the period commencing seventy-five (75) days prior to the first anniversary of the date of the immediately
preceding annual meeting and ending on the date of the next annual meeting, (B) contains an identical or substantially
similar item (a &ldquo;Similar Item&rdquo;) to an item that was presented at any meeting of shareholders held within one
hundred and twenty (120) days prior to the Delivery Date (and, for purposes of this clause (B) the election of directors
shall be deemed a &ldquo;Similar Item&rdquo; with respect to all items of business involving the election or removal of
directors), (C) relates to an item of business that is not a proper subject for action by the party requesting the special
meeting under applicable law, (D) </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0">was made in a manner that involved a violation of Regulation 14A under the Exchange Act, or
other applicable law, or (E) does not comply with the provisions of this Section 4.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as provided in the next sentence, any special meeting shall be held at such date and time as may be fixed by the
Board of Directors in accordance with these By-laws and the New York Business Corporation Law. In the case of a Shareholder Requested
Special Meeting, such meeting shall be held at such date and time as may be fixed by the Board of Directors; provided, however,
that the date of any Shareholder Requested Special Meeting shall be not more than sixty (60) days after the record date for such
meeting (the &ldquo;Meeting Record Date&rdquo;), which shall be fixed in accordance with Article VI, Section 4 of these By-laws.
In fixing a date and time for any Shareholder Requested Special Meeting, the Board of Directors may consider such factors as it
deems relevant within the good faith exercise of business judgment, including, without limitation, the nature of the matters to
be considered, the facts and circumstances surrounding any request for a meeting and any plan of the Board of Directors to call
an annual meeting or a special meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Business to be transacted at a special meeting may only be brought before the meeting pursuant to the Corporation&rsquo;s
notice of meeting. Business transacted at any Shareholder Requested Special Meeting shall be limited to the purpose(s) stated in
the Shareholder Special Meeting Request(s); provided, however, that nothing herein shall prohibit the Board of Directors from submitting
matters to the shareholders at any Shareholder Requested Special Meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Notice of Special Meeting</U>.
Notice of each special meeting of shareholders will be given in the manner set forth in Article IV of these By-Laws not less than
ten nor more than fifty days before the date of the meeting to each shareholder entitled to vote at the meeting. Each notice will
state the place, date and hour of the meeting, and the purpose or purposes for which the meeting is called and indicate by whom
it is being called.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Quorum</U>. Except as otherwise
required by law or the Certificate of Incorporation, the presence in person or by proxy of the holders of record of a majority
of the shares entitled to vote at a meeting of shareholders will be necessary, and will constitute a quorum, for the transaction
of business at that meeting. If a quorum is not present or represented by proxy at any meeting of shareholders, the holders of
a majority of the shares entitled to vote at the meeting who are present in person or represented by proxy may adjourn the meeting
from time to time until a quorum is present. An adjourned meeting may be held later without notice other than announcement at the
meeting, except that if after the adjournment a new record date is fixed for the adjourned meeting, notice of the adjourned meeting
shall be given in the manner set forth in Article IV to each shareholder entitled to vote at the adjourned meeting. At any adjourned
meeting at which a quorum is present any business may be transacted which might have been transacted at the meeting as originally
called.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Qualification of Voters</U>.
The only persons entitled to notice of or to vote at any meeting of shareholders will be the persons shown as shareholders of the
Corporation on the stock records of the Corporation on the record date fixed by the Board of Directors, or, in the absence of a
record date, at the close of business on the date the notice of the meeting is given.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Voting</U>.<U> </U>At
any meeting of shareholders each shareholder having the right to vote shall be entitled to vote in person or by proxy. Except
as otherwise provided by law or the Certificate of Incorporation, each shareholder will be entitled to one vote for each share
of stock entitled to vote standing in his name on the books of the Corporation. Except with respect to the election of directors
and as otherwise provided by law or in the Certificate of Incorporation or these By-Laws, all matters will be determined by the
vote of the holders of a majority of the shares voting on it.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Except as otherwise provided by these
By-Laws, a nominee for director shall be elected by a majority of the votes cast in person or by proxy with respect to such nominee&rsquo;s
election at any meeting that includes the election of directors at which a quorum is present. For purposes of this Section, a majority
of the votes cast shall mean that the number of votes cast &ldquo;for&rdquo; a nominee&rsquo;s election exceeds the number of votes
cast &ldquo;against&rdquo; that nominee&rsquo;s election. Notwithstanding the foregoing, a nominee for director shall be elected
by a plurality of the votes cast in person or by proxy at any meeting that includes the election of directors at which a quorum
is present if, as of the 10th day preceding the date the Corporation first mails its notice of meeting for such meeting to the
shareholders of the Corporation, the number of nominees exceeds the number of directors to be elected (a &ldquo;Contested Election&rdquo;),
provided that with respect to any nominee proposed or nominated by a shareholder, the Secretary of the Corporation shall have received
proper notice under Section 2 or Section 10 of this Article, as applicable. For purposes of this Section, if plurality voting is
applicable to the election of directors at any meeting, the nominees who receive the highest number of votes cast &ldquo;for,&rdquo;
without regard to votes cast &ldquo;against&rdquo; or &ldquo;withhold,&rdquo; shall be elected as directors up to the total number
of directors to be elected at that meeting. Abstentions and broker non-votes will not count as a vote cast with respect to any
election of directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">In order for any incumbent director to
become a nominee of the Board of Directors for further service on the Board of Directors, such person must submit an irrevocable
resignation, contingent on (i) that person not receiving a majority of the votes cast in an election that is not a Contested Election,
and (ii) acceptance of that resignation by the Board of Directors in accordance with the policies and procedures adopted by the
Board of Directors for such purpose. If an incumbent director fails to receive a majority of votes cast in an election that is
not a Contested Election, the Governance Committee shall recommend to the Board of Directors whether to accept or reject the resignation
of such incumbent director, or whether other action should be taken. The Board shall act on the resignation, taking into account
the Governance Committee&rsquo;s recommendation, and within 90 days after the date of certification of the election results, the
Board shall disclose its decision and rationale regarding whether to accept the resignation (or the reasons for rejecting the resignation,
if applicable) in a press release, filing with the Commission or by other public announcement. The director whose resignation is
under consideration may not participate in any deliberation or vote of the Governance Committee or Board of Directors regarding
his or her resignation. Notwithstanding the foregoing, in the event that no nominee for director receives a majority of the votes
cast in an election that is not a Contested Election, the members of the Governance Committee shall make a final determination
as to whether the Board shall accept any or all resignations, including their own. The Governance Committee and the Board may consider
any factors and other information they deem appropriate and relevant in deciding whether to accept a director&rsquo;s resignation.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">If an incumbent director fails to receive
the required vote for re-election in an election that is not a Contested Election and such director&rsquo;s resignation is not
accepted by the Board, such director will continue to serve until the expiration date of such director&rsquo;s term in office or
until such director&rsquo;s earlier removal pursuant to Article II, Section 3 of these By-Laws. If such director&rsquo;s resignation
is accepted by the Board, or if a nominee for director is not elected and the nominee is not an incumbent director, then the Board
may fill any resulting vacancy pursuant to Article II, Section 4 of these By-Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
9.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Action Without a Meeting</U>.
Except as otherwise provided by the Certificate of Incorporation, whenever the vote of shareholders is required or permitted in
connection with any corporate action, that action may be taken without a meeting on written consent, setting forth the action so
taken, signed by the holders of outstanding shares having not less than the minimum number of votes that would be necessary to
authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.<FONT STYLE="text-transform: uppercase">
</FONT>The shareholder or shareholders proposing to take such action shall give notice of the proposed action, which notice shall
be in writing and delivered to and received by the Secretary at the principal office of the Corporation not less than ninety days
before the proposed effective date of such action.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT></FONT><U>Proxy Access</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the provisions of this Section 10, if any Eligible Shareholder or group of up to 20 Eligible Shareholders submits
to the Corporation a Proxy Access Notice that complies with this Section 10 and such Eligible Shareholder or group of Eligible
Shareholders otherwise satisfies all the terms and conditions of this Section 10 (such Eligible Shareholder or group of Eligible
Shareholders, a &ldquo;<U>Nominating Shareholder</U>&rdquo;), the Corporation shall include in its proxy statement or on its form
of proxy and ballot, as applicable (collectively, &ldquo;<U>proxy materials</U>&rdquo;), for any annual meeting of shareholders,
in addition to any persons nominated for election by the Board of Directors or any committee thereof:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the name of any person or persons nominated by such Nominating Shareholder for election to the Board of Directors at such
annual meeting of shareholders who meets the requirements of this Section 10 (a &ldquo;Nominee&rdquo;);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>disclosure about the Nominee and the Nominating Shareholder required under the rules of the Commission or other applicable
law to be included in the proxy materials;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>subject to the other applicable provisions of this Section 10, a written statement, not to exceed 500 words, that is not
contrary to any of the Commission&rsquo;s proxy rules, including Rule 14a-9 under the Exchange Act (a &ldquo;Supporting Statement&rdquo;),
included by the Nominating Shareholder in the Proxy Access Notice intended for inclusion in the proxy materials in support of the
Nominee&rsquo;s election to the Board of Directors; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iv)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>any
other information that the Corporation or the Board of Directors determines, in its discretion, to include in the
proxy materials relating to the nomination </P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0">of the Nominee, including, without limitation, any statement in opposition to the
nomination and any of the information provided pursuant to this Section 10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Maximum Number of Nominees.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Corporation shall not be required to include in the proxy materials for an annual meeting of shareholders more Nominees
than that number of directors constituting 20% of the total number of directors of the Corporation on the last day on which a Proxy
Access Notice may be submitted pursuant to this Section 10 (rounded down to the nearest whole number, but not less than two) (the
&ldquo;Maximum Number&rdquo;). The Maximum Number for a particular annual meeting of shareholders shall be reduced by: (A) the
number of Nominees who are subsequently withdrawn or that the Board of Directors itself decides to nominate for election at such
annual meeting of shareholders (including, without limitation, any person who is or will be nominated by the Board of Directors
pursuant to any agreement or understanding with one or more shareholders to avoid such person being formally proposed as a Nominee),
and (B) the number of incumbent directors who had been Nominees with respect to any of the preceding two annual meetings of shareholders
and whose reelection at the upcoming annual meeting of shareholders is being recommended by the Board of Directors (including,
without limitation, any person who was nominated by the Board of Directors pursuant to any agreement or understanding with one
or more shareholders to avoid such person being formally proposed as a Nominee). In the event that one or more vacancies for any
reason occurs on the Board of Directors after the deadline set forth in Subsection (d) of this Section 10 but before the date of
the annual meeting of shareholders, and the Board of Directors resolves to reduce the size of the board of directors in connection
therewith, the Maximum Number shall be calculated based on the number of directors as so reduced.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any Nominating Shareholder submitting more than one Nominee for inclusion in the Corporation&rsquo;s proxy materials shall
rank such Nominees based on the order that the Nominating Shareholder desires such Nominees to be selected for inclusion in the
Corporation&rsquo;s proxy materials in the event that the total number of Nominees submitted by Nominating Shareholders exceeds
the Maximum Number. In the event that the number of Nominees submitted by Nominating Shareholders exceeds the Maximum Number,
the highest ranking Nominee from each Nominating Shareholder will be included in the Corporation&rsquo;s proxy materials until
the Maximum Number is reached, going in order from largest to smallest of the number of shares of common stock of the Corporation
owned by each Nominating Shareholder as disclosed in each Nominating Shareholder&rsquo;s Proxy Access Notice. If the Maximum Number
is not reached after the highest ranking Nominee of each Nominating Shareholder has been selected, this process will be repeated
as many times as necessary until the Maximum Number is reached. If, after the deadline for submitting a Proxy Access Notice as
set forth in Subsection (d) of this Section 10, a Nominating Shareholder ceases to satisfy the requirements of this Section 10
or withdraws its nomination or a Nominee ceases to satisfy the requirements of this Section 10 or becomes unwilling or unable
to serve on the Board of Directors, whether before or after the mailing of definitive proxy materials, then the nomination shall
be disregarded, and the Corporation: (A) shall not be required to include in its proxy materials the disregarded Nominee and (B)
may otherwise communicate to its </P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0">shareholders, including without limitation by amending or supplementing its proxy materials,
that the Nominee will not be included as a Nominee in the proxy materials and the election of such Nominee will not be voted on
at the annual meeting of shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Eligibility of Nominating Shareholder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An &ldquo;Eligible Shareholder&rdquo; is a person who has either (A) been a record holder of the shares of common stock
used to satisfy the eligibility requirements in this Subsection (c) of this Section 10 continuously for the three-year period specified
in Subsection (ii) below or (B) provides to the Secretary of the Corporation, within the time period referred to in Subsection
(d) of this Section 10, evidence of continuous ownership of such shares for such three-year period from one or more securities
intermediaries in a form that satisfies the requirements as established by the Commission for a shareholder proposal under Rule
14a-8 under the Exchange Act (or any successor rule).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An Eligible Shareholder or group of up to 20 Eligible Shareholders may submit a nomination in accordance with this Section
10 only if the person or each member of the group, as applicable, has continuously owned at least the Minimum Number (as defined
below) of shares of the Corporation&rsquo;s outstanding common stock throughout the three-year period preceding and including the
date of submission of the Proxy Access Notice, and continues to own at least the Minimum Number through the date of the annual
meeting of shareholders. Two or more funds that are (i) under common management and investment control, (ii) under common management
and funded primarily by a single employer or (iii) a &ldquo;group of investment companies,&rdquo; as such term is defined in Section
12(d)(1)(G)(ii) of the Investment Company Act of 1940 (two or more funds referred to under any of clause (i), (ii) or (iii), collectively
a &ldquo;Qualifying Fund&rdquo;) shall be treated as one Eligible Shareholder. For the avoidance of doubt, in the event of a nomination
by a group of Eligible Shareholders, any and all requirements and obligations for an individual Eligible Shareholder that are set
forth in this Section 10, including the minimum holding period, shall apply to each member of such group; provided, however, that
the Minimum Number shall apply to the ownership of the group in the aggregate. Should any shareholder withdraw from a group of
Eligible Shareholders at any time prior to the annual meeting of shareholders, the group of Eligible Shareholders shall only be
deemed to own the shares held by the remaining members of the group.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The &ldquo;Minimum Number&rdquo; of shares of the Corporation&rsquo;s common stock means three percent (3%) of the number
of outstanding shares of common stock as of the most recent date for which such amount is given in any filing by the Corporation
with the Commission prior to the submission of the Proxy Access Notice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iv)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of this Section 10, an Eligible Shareholder &ldquo;owns&rdquo; only those outstanding shares of the common
stock of the Corporation as to which the Eligible Shareholder possesses both:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(A)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the full voting and investment rights pertaining to the shares; and</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(B)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the full economic interest in (including the opportunity for profit and risk of loss on) such shares;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0in"><U>provided</U>, that the number
of shares calculated in accordance with clauses (A) and (B) shall not include any shares: (1) sold by such Eligible Shareholder
or any of its affiliates in any transaction that has not been settled or closed, (2) borrowed by such Eligible Shareholder or any
of its affiliates for any purpose or purchased by such Eligible Shareholder or any of its affiliates pursuant to an agreement to
resell, or (3) subject to any option, warrant, forward contract, swap, contract of sale, other derivative or similar agreement
entered into by such Eligible Shareholder or any of its affiliates, whether any such instrument or agreement is to be settled with
shares, cash or other property based on the notional amount or value of outstanding shares of the Corporation, in any such case
which instrument or agreement has, or is intended to have, the purpose or effect of: (w) reducing in any manner, to any extent
or at any time in the future, such Eligible Shareholder&rsquo;s or any of its affiliates&rsquo; full right to vote or direct the
voting of any such shares, and/or (x) hedging, offsetting, or altering to any degree, gain or loss arising from the full economic
ownership of such shares by such Eligible Shareholder or any of its affiliates. An Eligible Shareholder &ldquo;owns&rdquo; shares
held in the name of a nominee or other intermediary so long as the Eligible Shareholder retains the right to instruct how the shares
are voted with respect to the election of directors and possesses the full economic interest in the shares. An Eligible Shareholder&rsquo;s
ownership of shares shall be deemed to continue during any period in which the Eligible Shareholder has delegated any voting power
by means of a proxy, power of attorney, or other similar instrument or arrangement that is revocable at any time by the Eligible
Shareholder. An Eligible Shareholder&rsquo;s ownership of shares shall be deemed to continue during any period in which the Eligible
Shareholder has loaned such shares; <U>provided</U> that the Eligible Shareholder has the power to recall such loaned shares on
no more than five business days&rsquo; notice and includes in the Proxy Access Notice an agreement that it will (y) promptly recall
such loaned shares upon being notified that any of its Nominees will be included in the Corporation&rsquo;s proxy materials pursuant
to this Section 10 and (z) continue to hold such recalled shares (including the right to vote such shares) through the date of
the annual meeting of shareholders. The terms &ldquo;owned,&rdquo; &ldquo;owning&rdquo; and other variations of the word &ldquo;own&rdquo;
shall have correlative meanings. Each Nominating Shareholder shall furnish any other information that may reasonably be required
by the Board of Directors to verify such shareholder&rsquo;s continuous ownership of at least the Minimum Number during the three-year
period referred to above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(v)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No person may be in more than one group constituting a Nominating Shareholder, and if any person appears as a member of
more than one group, it shall be deemed to be a member of the group that owns the greatest aggregate number of shares of the Corporation&rsquo;s
common stock as reflected in the Proxy Access Notice, and no shares may be attributed as owned by more than one person constituting
a Nominating Shareholder under this Section 10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>To nominate a Nominee, the Nominating Shareholder must, no earlier than 150 calendar days and no later than 120 calendar
days before the date of the Corporation&rsquo;s proxy materials released to shareholders in connection with the previous year&rsquo;s
annual meeting of</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0">shareholders, submit to the Secretary of the Corporation at the principal executive office of
the Corporation all of the following information and documents (collectively, the &ldquo;<U>Proxy Access
Notice</U>&rdquo;):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A Schedule 14N (or any successor form) relating to the Nominee, completed and filed with the Commission by the Nominating
Shareholder as applicable, in accordance with the Commission&rsquo;s rules;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A written notice of the nomination of such Nominee that includes the following additional information, agreements, representations
and warranties by the Nominating Shareholder (including each group member):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(A)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the information, representations and agreements required with respect to the nomination of directors pursuant to Article
I, Section 2 of these By-Laws;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(B)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the details of any relationship that existed within the past three years and that would have been described pursuant to
Item 6(e) of Schedule 14N (or any successor item) if it existed on the date of submission of the Schedule 14N;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(C)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder did not acquire, and is not holding, securities of the Corporation
for the purpose or with the effect of influencing or changing control of the Corporation;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(D)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominee&rsquo;s candidacy or, if elected, Board of Directors membership, would not
violate the certificate of incorporation, these By-laws, or any applicable state or federal law or the rules of any stock exchange
on which the Corporation&rsquo;s common stock is traded;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(E)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominee:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(1)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>does not have any direct or indirect material relationship with the Corporation and otherwise would qualify as an &ldquo;independent
director&rdquo; under the rules of the primary stock exchange on which the Corporation&rsquo;s common stock is traded and any applicable
rules of the Commission;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(2)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>would meet the audit committee independence requirements under the rules of the Commission and of the principal stock exchange
on which the Corporation&rsquo;s common stock is traded;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(3)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>would qualify as a &ldquo;non-employee director&rdquo; for the purposes of Rule 16b-3 under the Exchange Act (or any successor
rule);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(4)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>would qualify as an &ldquo;outside director&rdquo; for the purposes of Section 162(m) of the Internal Revenue Code of 1986
(or any successor provision);</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(5)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is not and has not been, within the past three years, an officer, director, affiliate or representative of a competitor,
as defined under Section 8 of the Clayton Antitrust Act of 1914, and if the Nominee has held any such position during this period,
details thereof; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1.5in; text-indent: 0.5in">(6)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>is not and has not been subject to any event specified in Rule 506(d)(1) of Regulation D (or any successor rule) under the
Securities Act of 1933 or Item 401(f) of Regulation S-K (or any successor rule) under the Exchange Act, without reference to whether
the event is material to an evaluation of the ability or integrity of the Nominee;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(F)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder satisfies the eligibility requirements set forth in Subsection
(c) of this Section 10, has provided evidence of ownership to the extent required by Subsection (c)(i) of this Section 10, and
such evidence of ownership is true, complete and correct in all respects;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(G)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder intends to continue to satisfy the eligibility requirements
described in Subsection (c) of this Section 10 through the date of the annual meeting of shareholders;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(H)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder will not engage in or support, directly or indirectly, a &ldquo;solicitation&rdquo;
within the meaning of Rule 14a-1(l) (without reference to the exception in Section 14a-1(l)(2)(iv)) (or any successor rules) with
respect to the annual meeting of shareholders, other than a solicitation in support of the Nominee or any nominee of the Board
of Directors;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(I)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder will not use any proxy card other than the Corporation&rsquo;s
proxy card in soliciting shareholders in connection with the election of a Nominee at the annual meeting of shareholders;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(J)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if desired by the Nominating Shareholder, a Supporting Statement;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(K)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of a nomination by a group, the designation by all group members of one group member that is authorized to act
on behalf of all group members with respect to matters relating to the nomination, including withdrawal of the nomination;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(L)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the case of any Eligible Shareholder that is a Qualifying Fund consisting of two or more funds, documentation demonstrating
that the funds are eligible to be treated as a Qualifying Fund and that each such fund comprising the Qualifying Fund otherwise
meets the requirements set forth in this Section 10; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(M)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a representation and warranty that the Nominating Shareholder has not nominated and will not nominate for election any individual
as director at the annual meeting of shareholders other than its Nominee(s).</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 4pt 0.5in; text-indent: 0.5in">(iii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An executed agreement pursuant to which the Nominating Shareholder (including each group member) agrees:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(A)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to comply with all applicable laws, rules and regulations in connection with the nomination, solicitation and election;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(B)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to file with the Commission any written solicitation or other communication with the Corporation&rsquo;s shareholders relating
to any Nominee or one or more of the Corporation&rsquo;s directors or director nominees, regardless of whether any such filing
is required under any law, rule or regulation or whether any exemption from filing is available for such materials under any law,
rule or regulation;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(C)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to assume all liability stemming from an action, suit or proceeding concerning any actual or alleged legal or regulatory
violation arising out of any communication by the Nominating Shareholder with the Corporation, its shareholders or any other person
in connection with the nomination or election of directors, including, without limitation, the Proxy Access Notice;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(D)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to indemnify and hold harmless (jointly and severally with all other group members, in the case of a group member) the Corporation
and each of its directors, officers and employees individually against any liability, loss, damages, expenses, demands, claims
or other costs (including reasonable attorneys&rsquo; fees and disbursements of counsel) incurred in connection with any threatened
or pending action, suit or proceeding, whether legal, administrative or investigative, against the Corporation or any of its directors,
officers or employees arising out of or relating to a failure or alleged failure of the Nominating Shareholder to comply with,
or any breach or alleged breach of, its obligations, agreements, representations or warranties under this Section 10;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(E)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in the event that (i) any information included in the Proxy Access Notice, or any other communication by the Nominating
Shareholder (including with respect to any group member), with the Corporation, its shareholders or any other person in connection
with the nomination or election of directors ceases to be true and accurate in all material respects (or omits a material fact
necessary to make the statements made not misleading), or (ii) the Nominating Shareholder (including any group member) fails to
continue to satisfy the eligibility requirements described in Subsection (c) of this Section 10, the Nominating Shareholder shall
promptly (and in any event within 48 hours of discovering such misstatement, omission or failure) (x) in the case of clause (i)
above, notify the Corporation and any other recipient of such communication of the misstatement or omission in such previously
provided information and of the information that is required to correct the misstatement or omission, and (y) in the case of clause
(ii) above, notify the Corporation why, and in what regard, the Nominating Shareholder fails to comply with the eligibility requirements
described in Subsection (c) of this Section 10 (it being understood that providing any such notification referenced in clauses
(x) and (y) above shall not be deemed to cure </P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0">any defect or limit the Corporation&rsquo;s rights to omit a Nominee from its proxy
materials as provided in this Section 10); and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iv)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>An executed agreement by the Nominee:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(A)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to provide to the Corporation a completed copy of the Corporation&rsquo;s director questionnaire and such other information
as the Corporation may reasonably request;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(B)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that the Nominee (i) consents to be named in the proxy materials as a nominee and, if elected, to serve on the Board of
Directors and (ii) has read and agrees to adhere to the Corporation&rsquo;s Corporate Governance Guidelines and any other Corporation
policies and guidelines applicable to directors generally; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(C)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>that the Nominee is not and will not become a party to (1) any agreement, arrangement or understanding with any person or
entity other than the Corporation with respect to direct or indirect compensation, reimbursement or indemnification in connection
with service or action as a director of the Corporation that has not been disclosed to the Corporation in writing, (2) any agreement,
arrangement or understanding with any person or entity as to how the Nominee would vote or act on any issue or question as a director
(a &ldquo;<U>Voting Commitment</U>&rdquo;) that has not been disclosed to the Corporation in writing, or (3) any Voting Commitment
that could limit or interfere with the Nominee&rsquo;s ability to comply, if elected as a director of the Corporation, with its
fiduciary duties under applicable law or with the Corporation&rsquo;s Corporate Governance Guidelines and any other Corporation
policies and guidelines applicable to directors generally.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white">The information and documents required
by this Subsection (d) of this Section 10 shall be: (x) provided with respect to and executed by each group member, in the case
of information applicable to group members; and (y) provided with respect to the persons specified in Instruction 1 to Items 6(c)
and (d) of Schedule 14N (or any successor item) if and to the extent applicable to a Nominating Shareholder or group member. The
Proxy Access Notice shall be deemed submitted on the date on which all the information and documents referred to in this Subsection
(d) of this Section 10 (other than such information and documents contemplated to be provided after the date the Proxy Access Notice
is provided) have been delivered to or, if sent by mail, received by the Secretary of the Corporation. For the avoidance of doubt,
in no event shall any adjournment or postponement of an annual meeting of shareholders or the public announcement thereof commence
a new time period for the giving of a Proxy Access Notice pursuant to this Section 10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(e)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Exceptions and Clarifications.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary contained in this Section 10, (x) the Corporation may omit from its proxy materials
any Nominee and any information concerning such Nominee (including a Nominating Shareholder&rsquo;s Supporting Statement),</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in">(y) any nomination shall be disregarded, and (z) no
vote on such Nominee will occur (notwithstanding that proxies in respect of such vote may have been received by the Corporation),
and the Nominating Shareholder may not, after the last day on which a Proxy Access Notice would be timely, cure in any way any
defect preventing the nomination of the Nominee, if:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(A)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Corporation receives a notice pursuant to Article I, Section 2 of these By-Laws that a shareholder intends to nominate
a candidate for director at the annual meeting of shareholders;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(B)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Nominating Shareholder or the designated lead group member, as applicable, or any qualified representative thereof,
does not appear at the annual meeting of shareholders to present the nomination submitted pursuant to this Section 10 or the Nominating
Shareholder withdraws its nomination prior to the annual meeting of shareholders;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(C)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Board of Directors determines that such Nominee&rsquo;s nomination or election to the Board of Directors would result
in the Corporation violating or failing to be in compliance with the certificate of incorporation, these By-Laws or any applicable
law, rule or regulation to which the Corporation is subject, including any rules or regulations of any stock exchange on which
the Corporation&rsquo;s common stock is traded;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(D)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Nominee was nominated for election to the Board of Directors pursuant to this Section 10 at one of the Corporation&rsquo;s
two preceding annual meetings of shareholders and (i) its nomination was either withdrawn or (ii) such Nominee became ineligible
to serve as a Nominee or as a Director; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-indent: 0.5in">(E)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) the Nominating Shareholder fails to continue to satisfy the eligibility requirements described in Subsection (c) of
this Section 10, (ii) any of the representations and warranties made in the Proxy Access Notice cease to be true, complete and
correct in all material respects (or omits to state a material fact necessary to make the statements made therein not misleading),
(iii) the Nominee becomes unwilling or unable to serve on the Board of Directors or (iv) the Nominating Shareholder or the Nominee
materially violates or breaches any of its agreements, representations or warranties in this Section 10.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>Notwithstanding
anything to the contrary contained in this Section 10, the Corporation may omit from its proxy materials, or may supplement
or correct, any information, including all or any portion of the Supporting Statement included in the Proxy Access Notice,
if: (A) such information is not true and correct in all material respects or omits a material statement necessary to make the
statements therein not misleading; (B) such information directly or indirectly impugns the character, integrity or personal
reputation of, or, without factual foundation, directly or indirectly makes charges concerning improper, illegal or
immoral conduct or associations with respect to, any person; or (C) the inclusion of such information in the proxy materials
would otherwise violate the Commission&rsquo;s proxy rules or any other applicable law, rule or </P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0">regulation. Once submitted
with a Proxy Access Notice, a Supporting Statement may not be amended, supplemented or modified by the Nominee or Nominating
Shareholder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For the avoidance of doubt, the Corporation may solicit against, and include in the proxy materials its own statement relating
to, any Nominee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(iv)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Section 10 provides the exclusive method for a shareholder to include nominees for election to the Board of Directors
in the Corporation&rsquo;s proxy materials (including, without limitation, any proxy card or written ballot).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-indent: 0.5in">(v)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The interpretation of, and compliance with, any provision of this Section 10, including the representations, warranties
and covenants contained herein, shall be determined by the Board of Directors or, in the discretion of the Board of Directors,
one or more of its designees, in each case acting in good faith.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
II.<BR>
<BR>
BOARD OF DIRECTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Function</U>. The Board
of Directors will manage the business of the Corporation, except as otherwise provided by law, the Certificate of Incorporation
or these By-Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Number and Term of Office</U>.
The number of directors constituting the entire Board of Directors will be such number, not less than three nor more than twenty,
as is determined by resolution of the Board of Directors from time to time, unless all the shares are owned beneficially and of
record by less than three shareholders, in which event the number of directors fixed by resolution of the Board may be less than
three but not less than the number of shareholders. As used in these By-Laws, &ldquo;entire Board of Directors&rdquo; means the
total number of directors which the Corporation would have if there were no vacancies. Except as provided in Section 4 of this
Article, the directors will be elected at the annual meetings of shareholders. The directors will be divided into classes and elected
for terms as provided in the Certificate of Incorporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Removal of Directors</U>.
Except as otherwise provided by law or these By-Laws, no director shall be removed prior to the expiration date of his term of
office, as such date is defined in the Certificate of Incorporation of the Corporation, except for cause and by the affirmative
vote of a majority of the entire Board of Directors or of the holders of the percentage of outstanding stock of the Corporation
entitled to vote as is set forth in the Certificate of Incorporation of the Corporation. Except as may otherwise be provided by
law, cause for removal shall exist only if the director whose removal is proposed has been convicted of a felony by a court of
competent jurisdiction to be liable for acts committed in bad faith or the result of active and deliberate dishonesty and such
acts were material to the cause of action so adjudicated, or acts in which he personally gained a financial profit or other advantage
to which he was not legally entitled, or has been adjudicated mentally incompetent by a court of competent jurisdiction.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Vacancies</U>. Newly created
directorships resulting from an increase in the number of directors and vacancies occurring in the Board may be filled by the
vote of a majority of the directors then in office, even if less than a quorum exists. Each director so elected will hold office
until the next annual meeting of shareholders. Newly created directorships resulting from an increase in the number of directors
and vacancies occurring in the Board also may be filled by the shareholders of the Corporation at the next annual meeting or any
special meeting called for the purpose, and each director so elected will hold office for the term provided in the Certificate
of Incorporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Resignation</U>. Any director
of the Corporation may resign at any time by giving written notice of his or her resignation to the Board of Directors, the President
or the Secretary of the Corporation. A resignation will take effect at the time specified in the notice or, if no time is specified,
at the time the notice is given, and the acceptance of a resignation will not be necessary to make it effective.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Executive Committee and
Other Committees</U>. By the affirmative vote of a majority of the entire Board, the Board of Directors may designate from among
its members an Executive Committee and other committees, each consisting of at least three members. The Executive Committee will
have all the authority of the Board of Directors except as otherwise provided by Section 712 of the New York Business Corporation
Law or other applicable statutes. Any other committees will have such authority as the Board of Directors may provide. The Board
of Directors may designate one or more directors as alternate members of the Executive Committee or any other committee to replace
absent members. Members of all committees will serve at the pleasure of the Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Action by Unanimous Written
Consent</U>. Any action required or permitted to be taken by the Board of Directors or any committee of the Board of Directors
may be taken without a meeting if all the members of the Board or the committee consent in writing to the adoption of a resolution
authorizing the action. The resolution and the written consents by the members of the Board or committee shall be filed with the
minutes of the proceedings of the Board or committee.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Participation by Telephone</U>.
Any director may participate in a meeting of the Board of Directors or a committee by conference telephone or similar communications
equipment which allows all persons participating in the meeting to hear each other at the same time. Participation by that means
will constitute presence in person at the meeting.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
III.<BR>
<BR>
MEETINGS OF DIRECTORS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>First Meeting</U>. The
first meeting of each newly elected Board of Directors will be held immediately following each annual meeting of shareholders.
If the meeting is held at the place of the meeting of shareholders, no notice of the meeting need be given to the newly elected
directors. If the first meeting is not so held, it shall be held at a time and place specified in a notice given in the manner
provided for notice of special meetings of the Board of Directors.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Regular Meetings</U>.
Regular meetings of the Board of Directors may be held upon such notice, or without notice, at such places and at such times as
may from time to time be designated by the Board of Directors. If any day fixed for a regular meeting is a legal holiday at the
place where the meeting is to be held, the meeting will be held at that place at the same hour on the next day which is not a
legal holiday.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Special Meetings; Notice</U>.
Special meetings of the Board of Directors will be held whenever called by the President, or by the Secretary at the written request
of any two directors. Notice of each special meeting, stating the time and place of the meeting, shall be given in the manner set
forth in Article IV of these By-Laws not less than forty-eight hours before the time the meeting is to be held. A notice need not
specify the purpose of any meeting of the Board of Directors, unless otherwise provided by these By-Laws.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Place of Meeting</U>. The
Board of Directors may hold its meetings and keep the books and records of its proceedings at such place or places within or outside
of the State of New York as the Board may from time to time determine.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Quorum; Action by the Board</U>.
A majority of the entire board will constitute a quorum for the transaction of business. Except as otherwise provided by these
By-Laws, or required by law, the affirmative vote of a majority of the directors present at any meeting at which a quorum is present
will be required for the taking of an action by the Board of Directors. If a quorum is not present at a meeting of the Board of
Directors, a majority of the directors present at the meeting may adjourn the meeting from time to time until a quorum is present,
without notice of the adjourned meeting other than announcement at the meeting.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IV.<BR>
<BR>
NOTICES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Notice to a Shareholder</U>.
Any notice to a shareholder must be in writing and given personally, by telephone or by mail. If mailed, a notice will be deemed
given when deposited in the United States mail, postage prepaid, directed to the shareholder at the address which appears on the
Corporation&rsquo;s shareholder records or, if the shareholder filed with the Secretary of the Corporation a written request that
notices to him be mailed to some other address, then addressed to him at that other address.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Notice to a Director</U>.
Any notice to a director may be given personally, by telephone or by mail, facsimile transmission, telegram, cable or similar instrumentality.
A notice will be deemed given when actually given in person or by telephone or facsimile transmission, or three business days after
having been deposited in the United States mails or with the communications company through which it is given, directed to the
director at his business address or at such other address as the director may have designated to the Secretary of the Corporation
as the address to which notices should be sent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Waiver of
Notice</U>. Any person may waive notice of any meeting by signing a written waiver, whether before or after the meeting. In
addition, attendance by a </P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0">shareholder at a meeting in person or by proxy or attendance by a director at a meeting will be
deemed a waiver of notice. A waiver of notice need not specify the purposes of the meeting.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
V.<BR>
<BR>
OFFICERS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Number</U>. The officers
of the Corporation will be a President, a Chief Financial Officer, a Secretary, and a Comptroller, and the Board of Directors may
also elect a Chairman of the Board, a Vice Chairman of the Board, one or more Vice Presidents (some of whom may be designated Executive
Vice Presidents or Senior Vice Presidents), a Treasurer, one or more Assistant Secretaries, Assistant Comptrollers or Assistant
Treasurers and such other officers as it may from time to time deem advisable. Any two or more offices, except the offices of President
and Secretary, may be held by the same person. No officers need be a director of the Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Election and Term of Office</U>.
Each officer will be elected by the Board of Directors and will hold office for such term, if any, as the Board of Directors may
determine. Any officer may be removed at any time, either with or without cause, by the vote of a majority of the entire Board
of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Resignation</U>. Any officer
may resign at any time by giving written notice to the Board of Directors or to the President. A resignation will take effect at
the time specified in the notice or, if no time is specified, at the time the notice is given. Acceptance of a resignation will
not be necessary to make it effective.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Powers and Duties</U>.
The President will be the Chief Executive Officer of the Corporation. The other officers will have the powers, responsibilities
and duties which are customary with regard to the respective offices which they hold, as well as any other powers, responsibilities
and duties, and subject to any limitations, which the Board of Directors may specify from time to time.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Compensation</U>. The Board
of Directors will fix the compensation of the chief executive officer, and subject to the discretion of the Board of Directors,
the chief executive officer shall have the right to fix the compensation of all other officers and all employees of the Corporation.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VI.<BR>
<BR>
SHARES AND THEIR TRANSFER</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Certificates</U>. The shares
of stock of the Corporation will be represented by certificates, in such form as the Board of Directors may from time to time prescribe,
except that the Board of Directors may provide that some or all of any class or series of shares will be uncertificated shares.
No decision to have uncertificated shares will apply to shares represented by a certificate until that certificate has been surrendered
to the Corporation.</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Signatures on Certificates</U>.
Each certificate will be signed by the President or a Vice President and the Secretary, the Comptroller or the Treasurer or an
Assistant Secretary, Assistant Comptroller or Assistant Treasurer and will be sealed with the seal of the Corporation. If certificates
are countersigned by a transfer agent and registered by a registrar, the signatures of the officers and the seal of the Corporation
may be in facsimile. If any officer who has signed or whose facsimile signature has been placed upon a certificate ceases to hold
that office before the certificate is issued, it may nonetheless be issued by the Corporation with the same effect as if he held
the office at the date of issue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Lost or Destroyed Certificates</U>.
The Corporation may issue a new certificate in place of any certificate issued by the Corporation which is alleged to have been
lost or destroyed. The Board of Directors may prescribe any conditions precedent to the issuance of the new certificate which it
deems appropriate and may require a bond sufficient to indemnify the Corporation against any claim that may be made against it
with regard to the allegedly lost or destroyed certificate or because of the issuance of the new certificate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Record Date</U>. The Board
of Directors may fix in advance a date as the record date for determination of the shareholders entitled to notice of or to vote
at any meeting of shareholders, or to express consent to, or dissent from, any proposal without a meeting, or to receive payment
of any dividend or allotment of any rights, or to take or be the subject of any other action. A record date, will be not less than
ten nor more than fifty days before the date of the meeting to which it relates, nor more than fifty days before any other action.
A determination of shareholders entitled to notice of or to vote at any meeting of shareholders which has been made as provided
in this Section will apply to any adjournment of that meeting, unless the Board of Directors fixes a new record date for the adjourned
meeting.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Ownership</U>. Except as
otherwise provided in Article I, Section 10, the Corporation will be entitled to treat a person registered on its books as the
owner of shares as the owner of those share for all purposes, including the right to receive dividends, to vote, or to exercise
any other rights or privileges of an owner with regard to those shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Rules and Regulations</U>.
The Board of Directors may make such rules and regulations as it deems appropriate concerning the issue, transfer and registration
of certificates representing shares of stock of the Corporation.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VII.<BR>
<BR>
CORPORATE SEAL</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors will provide a
suitable seal containing the name of the Corporation. The seal will be in the charge of the Secretary. A duplicate seal may be
kept and used.</P>

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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
VIII.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">FISCAL YEAR</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The fiscal year of the Corporation will
end at the close of business on the thirty-first day of December in each year.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
IX.<BR>
<BR>
INDEMNIFICATION</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Indemnification &mdash;
Third Party and Derivative Actions</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Corporation shall indemnify any person made, or threatened to be made, a party to an action or proceeding (including,
without limitation, one by or in the right of the Corporation to procure a judgment in its favor), whether civil or criminal, including
an action by or in the right of any other Corporation of any type or kind, domestic or foreign, or any partnership, joint venture,
trust, employee benefit plan or other enterprise, which any director or officer of the Corporation served in any capacity at the
request of the Corporation, by reason of the fact that he, his testator or intestate, was a director or officer of the Corporation,
or served such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise at the request of
the Corporation in any capacity, against judgments, fines, amounts paid in settlement and reasonable expenses, including attorneys&rsquo;
fees actually and necessarily incurred as a result of such action or proceeding, or any appeal therein, provided that no indemnification
may be made to or on behalf of such person if (i) his or her acts were committed in bad faith or were the result of his or her
active and deliberate dishonesty and were material to such action or proceedings or (ii) he or she personally gained in fact a
financial profit or other advantage to which he or she was not legally entitled.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The termination of any such civil or criminal action or proceeding by judgment, settlement, conviction or upon a plea of
nolo contendere or its equivalent, shall not in itself create a presumption that any such person did not act, in good faith, for
a purpose which he or she reasonably believed to be in, or, in the case of service for any other corporation or any partnership,
joint venture, trust, employee benefit plan or other enterprise, not opposed to, the best interests of the Corporation or that
he or she had reasonable cause to believe that his or her conduct was unlawful.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Other Indemnification</U>.
The Corporation may, to the fullest extent permitted by law, indemnify or advance the expenses of any other person including agents
and employees to whom the Corporation is permitted by law to provide indemnification or advancement of expenses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Payment of Expenses
in Advance</U>. To the fullest extent permitted by the New York Business Corporation Law, the Corporation will advance to any
person who may be entitled to indemnification under Sections 1 or 2 sums with which to pay expenses incurred by that person
in defending against the claims, actions or proceedings for which such person may become entitled to indemnification, upon
receipt of an undertaking by or on behalf of such </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0"><FONT STYLE="text-transform: none">person to repay the sums which are advanced if it is ultimately determined
that such person is not entitled to indemnification under Sections 1 or 2 to the extent the sums which are advanced exceed
the indemnification to which such person is entitled.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Enforcement; Defenses</U>.
The right to indemnification or advancement of expenses granted by this Article shall be enforceable by the person in any court
of competent jurisdiction if the Corporation denies such request, in whole or in part, or if no disposition thereof is made within
60 days. Such person&rsquo;s expenses incurred in connection with successfully establishing his or her right to indemnification,
in whole or in part, in any such action shall also be indemnified by the Corporation. It shall be a defense to any such action
(other than an action brought to enforce a claim for the advancement of expenses under Section 3 of this Article where the required
undertaking has been received by the Corporation) that the claimant has conducted himself or herself in a manner which would preclude
the Corporation from indemnifying him or her pursuant to Sections 1 or 2 of this Article, but the burden of proving such defense
shall be on the Corporation. Neither the failure of the Corporation (including its Board of Directors, its independent legal counsel,
and its shareholders) to have made a determination that indemnification of the claimant is proper in the circumstances, nor the
fact that there has been an actual determination by the Corporation (including its Board of Directors, its independent legal counsel,
and its shareholders) that indemnification of the claimant is not proper in the circumstances shall be a defense to the action
or create a presumption that the claimant is not entitled to indemnification.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Survival; Savings Clause;
Preservation of Other Rights</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The foregoing indemnification provisions shall be deemed to be a contract between the Corporation and each person who serves
in such capacity at any time while these provisions are in effect, and any repeal or modification of the New York Business Corporation
Law shall not affect any right or obligation then existing with respect to any state of facts then or previously existing or any
action or proceeding previously or thereafter brought or threatened based in whole or in part upon any such state of facts, except
as provided by law. Such a contract right may not be modified retroactively without the consent of such person, except as provided
by law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If this Article or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the
Corporation shall nevertheless indemnify each person against judgments, fines, amounts paid in settlement and expenses (including
attorneys&rsquo; fees) incurred in connection with any actual or threatened action or proceeding, whether civil or criminal, including
any actual or threatened action by or in the right of the Corporation, or any appeal therein, to the full extent permitted by any
applicable portion of this Article that shall not have been invalidated and to the full extent permitted by applicable law.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The
indemnification provided by this Article shall not be deemed exclusive of any other rights to which those indemnified may be
entitled under any other by-law, agreement, vote of shareholders or directors or otherwise, both as to action in his or her
official capacity and as to action in another capacity while holding such office, and shall continue as to a person who
has ceased to be a director or officer and shall inure to the benefit of the heirs, executors and administrators of such a
person. The Corporation is hereby authorized to provide further </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0">indemnification if it deems advisable by resolution of
shareholders or directors, by amendment of these by-laws or by agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
6.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>New York Business Corporation
Law</U>. All references to the New York Business Corporation Law in this Article IX shall mean such Law as it may from time to
time be amended.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">Section
7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><U>Insurance</U>. The Corporation
may purchase and maintain insurance to indemnify officers, directors and others against costs or liabilities incurred by them in
connection with the performance of their duties and any activities undertaken by them for, or at the request of, the Corporation,
to the fullest extent permitted by the New York Business Corporation Law.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
X.<BR>
<BR>
SECURITY</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">The Board of Directors may require any
officer, agent or employee to give security for the faithful performance of his or her duties.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center; text-indent: 0in">Article
XI.<BR>
<BR>
AMENDMENTS</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">Any By-Law, including this Article XI,
may be amended or repealed, in whole or in part, and new by-laws may be adopted, only (i) by the affirmative vote of the holders
of a majority of the votes cast for such action, or (ii) by the affirmative vote of a majority of the entire Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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