<SEC-DOCUMENT>0001144204-17-015628.txt : 20170320
<SEC-HEADER>0001144204-17-015628.hdr.sgml : 20170320
<ACCEPTANCE-DATETIME>20170320161554
ACCESSION NUMBER:		0001144204-17-015628
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170317
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170320
DATE AS OF CHANGE:		20170320

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			THOR INDUSTRIES INC
		CENTRAL INDEX KEY:			0000730263
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR HOMES [3716]
		IRS NUMBER:				930768752
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09235
		FILM NUMBER:		17701587

	BUSINESS ADDRESS:	
		STREET 1:		601 E. BEARDSLEY AVENUE
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46514
		BUSINESS PHONE:		(574) 970-7460

	MAIL ADDRESS:	
		STREET 1:		601 E. BEARDSLEY AVENUE
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v462211_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1.5pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Washington, D.C. 20549</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8&ndash;K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15 (d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Securities Exchange Act of 1934</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of Earliest Event Reported):
March 17, 2017</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="image_001.gif" ALT="THOR-logo_blue_nobkgd" STYLE="height: 55px; width: 143px"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1-9235</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>93-0768752</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
        or Other Jurisdiction of <BR>
        Incorporation)</FONT></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission
        File Number)</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS
        Employer Identification<BR>
        No.)</FONT></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>601 East Beardsley Avenue, </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Elkhart, Indiana </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>46514-3305</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(574) 970-7460</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><P STYLE="margin-top: 0; margin-bottom: 0"><B></B></P>
                                                 <P STYLE="margin-top: 0; margin-bottom: 0"><B>Item 5.03</B></P></TD><TD><B>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Effective March 17, 2017, the Board of Directors
(the &ldquo;Board&rdquo;) of Thor Industries, Inc. (the &ldquo;Company&rdquo;) adopted Amended and Restated By-Laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The amendments included in the Amended and
Restated By-Laws require each nominee for election as a director to resign from the Board upon failing to receive a majority of
the votes cast in an election that is not a Contested Election (as defined below), contingent upon the acceptance of the proffered
resignation by the Board, with the recommendation of the governance committee of the Board. Each such director will be required
to submit his or her resignation within five business days after the election in which the director fails to receive a majority
of the votes cast. In a Contested Election, directors will be elected by a plurality of the votes cast. An election of directors
is a &ldquo;Contested Election&rdquo; if, as of the 10<SUP>th</SUP> day preceding the date the Company first mails its notice of
meeting to the shareholders, or at any time thereafter, the number of nominees exceeds the number of directors to be elected at
that meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Prior to the adoption of the Amended and
Restated By-Laws, directors of the Company were elected by plurality vote. The first election of directors to which the new procedure
will apply will be the annual meeting of shareholders scheduled for December 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the Amended and Restated By-Laws,
and a copy marked to show the changes from the previously effective bylaws of the Company, are filed as exhibits to this report.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Exhibits</I></TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 95%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding: 0; font-size: 10pt; text-indent: 0">Exhibit Number</TD>
    <TD STYLE="width: 85%; padding: 0; font-size: 10pt; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">3.1</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">Amended and Restated By-Laws</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">3.2</TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">Amended and Restated By-Laws, showing changes from previously effective bylaws.</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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: 0pt 0; text-align: justify; text-indent: 243pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>Thor Industries, Inc.</B></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 50%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 6%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 30%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; width: 14%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Date: March 20, 2017</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;/s/ W. Todd Woelfer</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">W. Todd Woelfer</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">Senior Vice President, General Counsel and Secretary</TD>
    <TD STYLE="padding: 0; text-align: left; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3.5in"></P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>v462211_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 3.1</B></P>

<P STYLE="margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">AMENDED
AND RESTATED BY-LAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">THOR
INDUSTRIES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">Effective
as of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">March
17, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">ARTICLE
I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">MEETINGS
OF STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 1. <U>Annual
Meeting</U>. A meeting of stockholders shall be held annually for the election of directors and the transaction of such other business
as is related to the purpose or purposes set forth in the notice of meeting on such date and at such time as may be fixed by the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.65pt; background-color: white">SECTION
2. <U>Special Meetings</U>. Special meetings of the stockholders for any purpose may be called by the Board of Directors, the President
or the Secretary, and shall be called by the President or the Secretary at the written request of the holders of record of a majority
of the outstanding shares of the Corporation entitled to vote at such meeting. Special meetings shall be held at such time as may
be fixed in the call and stated in the notices of meeting or waiver thereof. At any special meeting only such business may be transacted
as is related to the purpose or purposes for which the meeting is convened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 3. <U>Place
of Meetings</U>. Meetings of stockholders shall be held at such place, within or without the State of Delaware or the United States
of America, as may be fixed in the call and stated in the notice of meeting or waiver thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 62.65pt; background-color: white">SECTION
4. <U>Notice of Meetings; Adjourned Meetings</U>. Notice of each meeting of stockholders shall be given in writing and shall state
the place, date and hour of the meeting. The purpose or purposes for which the meeting is called shall be stated in the notice
of each special meeting and of each annual meeting at which any business other than the election of directors is to be transacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 62.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">A copy
of the notice of any meeting shall be given, personally or by mail, not less than ten nor more than sixty days before the date
of the meeting, to each stockholder entitled to vote at such meeting. If mailed, such notice is given when deposited in the United
States mail, with postage thereon prepaid, directed to the stockholder at his address as it appears on the record of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25pt; text-indent: 0.85in; background-color: white">SECTION
5. <U>Waiver of Notice</U>. The transactions of any meeting of stockholders, however called and with whatever notice, if any, are
as valid as those at a meeting duly held after regular call and notice, if: (a) all the stockholders entitled to vote are present
in person or by proxy and no objection to holding the meeting is made by any stockholder; or if (b) a quorum is present either
in person or by proxy and no objection to holding the meeting is made by anyone so present, and if, either before or after the
meeting, each of the persons entitled to vote, not present in person or by proxy, signs a written waiver of notice, or a consent
to the holding of the meeting, or an approval of the action taken as shown by the minutes thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.1pt; background-color: white">Whenever
notice is required to be given to any stockholder, a written waiver thereof signed by such stockholder, whether before or after
the time thereon stated, shall be deemed equivalent to such notice. Attendance of a person at a meeting of stockholders shall constitute
a waiver of notice of such meeting, except when such stockholder attends for the express purpose of objecting, at the beginning
of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business
to be transacted at, nor the purpose of, any meeting of stockholders need be specified in any written waiver of notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.1pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">SECTION
6. <U>Qualification of Voters</U>. Except as may be otherwise provided in the Certificate of Incorporation, every stockholder of
record shall be entitled to one vote on each matter submitted to a vote at a meeting of stockholders for every share standing in
his name on the record of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.55pt; background-color: white">SECTION
7. <U>Quorum</U>. At any meeting of the stockholders the presence, in person or by proxy, of the holders of a majority of the shares
entitled to vote thereat shall constitute a quorum for the transaction of any business. When a quorum is once present to organize
a meeting, it is not broken by the subsequent withdrawal of any stockholders. The stockholders present may adjourn the meeting
despite the absence of a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white">SECTION
8. <U>Proxies</U>. Every stockholder entitled to vote at a meeting of stockholders or to express consent or dissent without a meeting
may authorize another person or persons to act for him by proxy. Every proxy must be executed by the stockholder or his attorney-in-fact.
No proxy shall be valid after the expiration of three years from the date thereof unless otherwise provided in the proxy. Every
proxy shall be revocable at the pleasure of the stockholder executing it, except as otherwise provided therein and as permitted
by law. Except as otherwise provided in the proxy, any proxy holder may appoint in writing a substitute to act in his place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">SECTION
9. <U>Voting</U>. Whenever any corporate action is to be taken by vote of the stockholders at a meeting, it shall, except as otherwise
required by Section 10 of this Article I, by law or by the Certificate of Incorporation, be authorized by a majority of the votes
cast thereat, in person or by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">SECTION
10.&#9; <U>Election of Directors</U>.&#9;No person may be nominated for election as a director who has not agreed to resign from
the Board upon failing to receive a majority of the votes cast in an election that is not a Contested Election (as defined below),
contingent upon the acceptance of the proffered resignation by the Board of Directors, with the recommendation of the governance
committee (if any) of the Board. Each such director shall submit his or her resignation within five (5) business days after the
election in which the director fails to receive a majority of the votes cast. In a Contested Election, directors shall be elected
by a plurality of the votes cast. An election of directors is a &ldquo;Contested Election&rdquo; if, as of the tenth (10<SUP>th</SUP>)
day preceding the date the Corporation first mails its notice of meeting to the stockholders, or at any time thereafter, the number
of nominees exceeds the number of directors to be elected at that meeting. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">SECTION 11. <U>Action
Without a Meeting</U>. Whenever stockholders are required or permitted to take any action at a meeting or by vote, such action
may be taken without a meeting, without prior notice and without a vote, by consent in writing 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. Prompt notice of the taking
of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders who have
not consented in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.3pt; background-color: white">SECTION
12. <U>Record Date</U>. The Board of Directors is authorized to designate a day, not more than sixty days nor less than ten days
prior to the day of holding any meeting of stockholders, as the day as of which those stockholders entitled to notice of, and to
vote at, such meeting shall be determined; and only stockholders of record on such day shall be entitled to notice or to vote at
such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.3pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.3pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 61.9pt; background-color: white">SECTION
13. <U>List of Stockholders Entitled to Vote</U>. The officer who has charge of the stock ledger of the Corporation shall prepare
and make, at least ten days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting,
arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of
each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting, during
ordinary business hours, for a period of at least ten days prior to the meeting, either at a place within the city where the meeting
is to be held (which place shall be specified in the notice of the meeting), or, if not so specified, at the place where the meeting
is to be held. The list shall also be produced and kept at the time and place of the meeting during the whole time thereof, and
may be inspected by any stockholder who is present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">SECTION
14. <U>Inspectors of Election</U>. The Chairman of any meeting of the stockholders may appoint one or more Inspectors of Election.
Any Inspector so appointed to act at any meeting of the stockholders, before entering upon the discharge of his duties, shall be
sworn faithfully to execute the duties of an Inspector at such meeting with strict impartiality, and according to the best of his
ability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">ARTICLE
II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">BOARD
OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Power of Board and Qualification of Directors</U>. The business and affairs of the Corporation shall be managed by the Board
of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 2. <U>Number
of Directors</U>. The number of directors constituting the whole Board of Directors shall be such number not less than one nor
more than fifteen as may be fixed from time to time by resolution adopted by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.7pt; text-indent: 0.85in; background-color: white">SECTION
3. <U>Election, Classes and Term of Directors</U>. As provided in ARTICLE SEVENTH of the Certificate of Incorporation of the Corporation,
the directors shall be divided into three classes as nearly equal in number as possible. Each class of directors shall be elected
for a term of three years. At each annual meeting of stockholders, directors of one class shall be elected to serve until the end
of the three year term and until their respective successors are elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.7pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">SECTION
4. <U>Resignations</U>. Any director of the Corporation may resign at any time by giving written notice to the Board of Directors,
the Chairman of the Board, the President or the Secretary of the Corporation. Such resignation shall take effect at the time specified
therein; and unless otherwise specified therein and except as provided in Section 10 of Article I of these By-Laws, the acceptance
of such resignation shall not be necessary to make it effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">SECTION
5. <U>Removal of Directors</U>. Any or all of the directors may be removed with or without cause by vote of the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">SECTION
6. <U>Newly Created Directorships and Vacancies</U>. Newly created directorships resulting from an increase in the number of
directors or vacancies occurring in the Board of Directors for any reason, except the removal of directors by stockholders
without cause, may be filled by vote of a majority of the directors then in office, even if less than a quorum exists, or may
be filled by a sole remaining director. Vacancies occurring as a result of the removal of directors by stockholders without
cause shall be filled by the stockholders. Any director elected to fill a vacancy or a newly created directorship shall be
elected to hold office until the next election of the class for which such director shall have been chosen, and until such
director&rsquo;s successor shall be elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: 61pt; background-color: white">SECTION
7. <U>Executive and Other Committees of Directors</U>. The Board of Directors, by resolution adopted by a majority of the whole
Board, may designate from among its members an executive committee and other committees to serve at the pleasure of the Board of
Directors, each consisting of one or more directors, and each of which, to the extent provided in the resolution, shall have all
the authority of the Board to the full extent authorized by law, including the power or authority to declare a dividend or to authorize
the issuance of stock. The Board of Directors may designate one or more directors as alternate members of any such committee, who
may replace any absent member or members at any meeting of such committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 61pt; background-color: white">SECTION
8. <U>Compensation of Directors</U>. The Board of Directors shall have authority to fix the compensation of directors for services
in any capacity, or to allow a fixed sum plus expenses, if any, for attendance at meetings of the Board or of committees designated
thereby. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation
therefor. Members of any special committee may be allowed compensation for attending committee meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">SECTION 9. <U>Interest
of Director in a Transaction</U>. No contract or transaction between the Corporation and one or more of its directors or
officers, or between the Corporation and any other corporation, partnership, association or other organization in which one
or more of its directors or officers are directors or officers, or have a financial interest, shall be void or voidable
solely for this reason, or solely because the director or officer is present at or participates in the meeting of the Board
or committee thereof which authorizes the contract or transaction, or solely because his or their votes are counted for such
purpose, if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.75pt; text-indent: 63.55pt; background-color: white">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The material facts as to his relationship or interest and as to the contract or transaction are disclosed or are known to
the Board of Directors or the committee, and the Board or committee in good faith authorizes the contract or transaction by the
affirmative votes of a majority of the disinterested directors, even though the disinterested directors be less than a quorum;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.75pt; text-indent: 63.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.9pt; text-indent: 63.55pt; background-color: white">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The material facts as to his relationship or interest and as to the contract or transaction
are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved
in good faith by vote of the stockholders; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.9pt; text-indent: 63.55pt; background-color: white"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.65pt; text-indent: 62.8pt; background-color: white">(c)
The contract or transaction is fair as to the Corporation as of the time it is authorized, approved or ratified, by the Board of
Directors, a committee thereof, or the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.65pt; text-indent: 62.8pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">Common or interested
directors may be counted in determining the presence of a quorum at a meeting of the Board of Directors or of a committee which
authorizes the contract or transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">ARTICLE
III.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">MEETINGS
OF THE BOARD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.65pt; background-color: white">SECTION
1. <U>Regular Meetings</U>. Regular meetings of the Board of Directors may be held without notice at such times and places, within
or without the State of Delaware or the United States of America, as may from time to time be fixed by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.4pt; background-color: white">SECTION
2. <U>Special Meetings; Notice; Waiver</U>. Special meetings of the Board of Directors may be held at any time and place,
within or without the State of Delaware or the United States of America, upon the call of the Chairman of the Board, the
President or the Secretary, by oral, telegraphic or written notice, duly given to or sent or mailed to each director not less
than two days before such meeting. Special meetings shall be called by the Chairman of the Board, the President or the
Secretary on the written request of any two directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">Notice of a special
meeting need not be given to any director who submits a signed waiver of notice whether before or after the meeting, or who attends
the meeting without protesting, prior thereto or at its commencement, the lack of notice to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.5pt; background-color: white">A notice,
or waiver of notice, need not specify the purpose of any special meeting of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.9pt; background-color: white">SECTION
3. <U>Quorum; Action by the Board; Adjournment</U>. At all meetings of the Board of Directors, a majority of the whole Board shall
constitute a quorum for the transaction of business, except that when the number of directors constituting the whole Board shall
be an even number, one-half of that number shall constitute a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">The
vote of a majority of the directors present at the time of the vote, if a quorum is present at such time, shall be the act of the
Board, except as may be otherwise specifically provided by law or by the Certificate of Incorporation or by these By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.65pt; background-color: white">A majority
of the directors present, whether or not a quorum is present, may adjourn any meeting to another time and place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 0.85in; background-color: white">SECTION
4. <U>Action Without a Meeting</U>. Action taken by a majority of the directors or members of a committee without a meeting is
nevertheless Board or committee action if written consent to the action in question is signed by all the directors or members of
the committee, as the case may be, and filed with the minutes of the proceedings of the Board or committee, whether done before
or after the action so taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">SECTION 5. <U>Action
Taken by Conference Telephone</U>. Members of the Board of Directors or any committee thereof may participate in a meeting by means
of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear
each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE IV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">OFFICERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.5pt; background-color: white">SECTION
1. <U>Officers</U>. The Board of Directors shall elect a Chairman of the Board, a President, one or more Vice Presidents, a Secretary
and a Treasurer of the Corporation and from time to time may elect or appoint such other officers as it may determine. Any two
or more offices may be held by the same person. All officers shall exercise such powers and perform such duties as shall be determined
from time to time by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.85pt; background-color: white">SECTION
2. <U>Term of Office; Removal</U>. Each officer shall hold office for such term as may be prescribed by the Board and may be removed
at any time by the Board with or without cause. The removal of an officer without cause shall be without prejudice to his contract
rights, if any. The election or appointment of an officer shall not of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; background-color: white">itself create contract rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">SECTION 3. <U>Compensation</U>.
The compensation of all officers of the Corporation shall be fixed by the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE V.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">INDEMNIFICATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 1. <U>Indemnification</U>.
The Corporation shall indemnify its officers, directors, employees and agents to the full extent permitted by the Delaware General
Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">ARTICLE
VI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">SHARE
CERTIFICATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 52.55pt; background-color: white">SECTION
1. <U>Form of Share Certificates</U>. The shares of the Corporation shall be represented by certificates, in such form as the Board
of Directors may from time to time prescribe, signed by the Chairman of the Board or Vice Chairman of the Board, or the President
or a Vice President, and by the Secretary, an Assistant Secretary, the Treasurer or an Assistant Treasurer, and shall be sealed
with the seal of the Corporation or a facsimile thereof. The signatures of the officers upon a certificate may be facsimiles if
the certificate is countersigned by a transfer agent or registered by a registrar other than the Corporation or its employees.
In case any such officer who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be
such officer before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer
at the date of issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 52.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 0.85in; background-color: white">SECTION
2. <U>Lost Certificates</U>. In case of the loss, theft, mutilation or destruction of a stock certificate, a duplicate certificate
will be issued by the Corporation upon notification thereof and receipt of such proper indemnity as shall be prescribed by the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt; text-indent: 60.85pt; background-color: white">SECTION
3. <U>Transfer of Shares</U>. Transfers of shares of stock shall be made upon the books of the Corporation by the registered holder
in person or by duly authorized attorney, upon surrender of the certificate or certificates for such shares properly endorsed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt; text-indent: 60.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white">SECTION
4. <U>Registered Stockholders</U>. Except as otherwise provided by law, the Corporation shall be entitled to recognize the exclusive
right of a person registered on its books as the owner of shares to receive dividends or other distributions and to vote as such
owner, and to hold such person liable for calls and assessments, and shall not be bound to recognize any equitable or legal claim
to or interest in such share or shares on the part of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.85pt 0pt 119.15pt; text-align: center; background-color: white">ARTICLE
VII. MISCELLANEOUS PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.85pt 0pt 119.15pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.9pt; text-indent: 61.55pt; background-color: white">SECTION
1. <U>Corporate Seal</U>. The corporate seal shall have inscribed thereon the name of the Corporation and such other appropriate
legend as the Board of Directors may from time to time determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.9pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.75pt; background-color: white">SECTION
2. <U>Fiscal Year</U>. The fiscal year of the Corporation shall be fixed by resolution of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.75pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 61.75pt; background-color: white">SECTION
3. <U>Checks and Notes</U>. All checks and demands for money and notes or other instruments evidencing indebtedness or obligations
of the Corporation shall be signed by such officer or officers or other person or persons as the Board of Directors may from time
to time designate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE VIII.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">AMENDMENTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Power to Amend</U>. By-Laws of the Corporation may be adopted, amended or repealed by the Board of Directors, subject to
amendment or repeal by the stockholders entitled to vote thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE IX.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">FORUM SELECTION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Forum for Adjudication of Certain Disputes</U>. Unless the Corporation consents in writing to the selection of an alternative
forum (an &ldquo;Alternative Forum Consent&rdquo;), the Court of Chancery of the State of Delaware shall be the sole and exclusive
forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach
of a fiduciary duty owed by any director, officer, stockholder, employee or agent of the Corporation to the Corporation or the
Corporation's stockholders, (iii) any action asserting a claim against the Corporation or any director, officer, stockholder, employee
or agent of the Corporation arising out of or relating to any provision of the General Corporation Law of Delaware or the Corporation's
Certificate of Incorporation or By-Laws, or (iv) any action asserting a claim against the Corporation or any director, officer,
stockholder, employee or agent of the Corporation governed by the internal affairs doctrine of the State of Delaware; provided,
however, that, in the event that the Court of Chancery of the State of Delaware lacks subject matter jurisdiction over any such
action or proceeding, the sole and exclusive forum for such action or proceeding shall be another state or federal court located
within the State of Delaware, in each such case, unless the Court of Chancery (or such other state or federal court located within
the State of Delaware, as applicable) has dismissed a prior action by the same plaintiff asserting the same claims because such
court lacked personal jurisdiction over an indispensable party named as a defendant therein. Failure to enforce the foregoing provisions
would cause the Corporation irreparable harm and the Corporation shall be entitled to equitable relief, including injunctive relief
and specific performance, to enforce the foregoing provisions. Any person or entity purchasing or otherwise acquiring any interest
in shares of stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Section 1 of Article
IX. If any action the subject matter of which is within the scope of this Section 1 of Article IX is filed in a court other than
the Court of Chancery of the State of Delaware (or any other state or federal court located within the State of Delaware, as applicable)
(a &quot;Foreign Action&quot;) by or in the name of any stockholder, such stockholder shall be deemed to have consented to (i)
the personal jurisdiction of the Court of Chancery of the State of Delaware (or such other state or federal court located within
the State of Delaware, as applicable) in connection with any action brought in any such court to enforce this Section 1 of Article
IX and (ii) having service of process made upon such stockholder in any such action by service upon such stockholder's counsel
in the Foreign Action as agent for such stockholder. The existence of any prior Alternative Forum Consent shall not act as a waiver
of the Corporation's ongoing consent right as set forth above in this Section 1 of Article IX with respect to any current or future
actions or claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>



<P STYLE="margin: 0; text-align: right"></P>

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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>4
<FILENAME>v462211_ex3-2.htm
<DESCRIPTION>EXHIBIT 3.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; background-color: white">Exhibit 3.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">AMENDED
AND RESTATED BY-LAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">OF</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">THOR
INDUSTRIES, INC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="color: #99CCFF"><U>Effective
as of</U></FONT> <FONT STYLE="color: Red"><U>March 17</U></FONT><FONT STYLE="color: #99CCFF"><U>, 2017</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 128.9pt 0pt 135.55pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE
I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">MEETINGS
OF STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 119.5pt 0pt 1.7in; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 1. <U>Annual
Meeting</U>. A meeting of stockholders shall be held annually for the election of directors and the transaction of such other business
as is related to the purpose or purposes set forth in the notice of meeting on such date and at such time as may be fixed by the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.65pt; background-color: white">SECTION
2. <U>Special Meetings</U>. Special meetings of the stockholders for any purpose may be called by the Board of Directors, the President
or the Secretary, and shall be called by the President or the Secretary at the written request of the holders of record of a majority
of the outstanding shares of the Corporation entitled to vote at such meeting. Special meetings shall be held at such time as may
be fixed in the call and stated in the notices of meeting or waiver thereof. At any special meeting only such business may be transacted
as is related to the purpose or purposes for which the meeting is convened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 3. <U>Place
of Meetings</U>. Meetings of stockholders shall be held at such place, within or without the State of Delaware or the United States
of America, as may be fixed in the call and stated in the notice of meeting or waiver thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 62.65pt; background-color: white">SECTION
4. <U>Notice of Meetings; Adjourned Meetings</U>. Notice of each meeting of stockholders shall be given in writing and shall state
the place, date and hour of the meeting. The purpose or purposes for which the meeting is called shall be stated in the notice
of each special meeting and of each annual meeting at which any business other than the election of directors is to be transacted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 62.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">A copy
of the notice of any meeting shall be given, personally or by mail, not less than ten nor more than sixty days before the date
of the meeting, to each stockholder entitled to vote at such meeting. If mailed, such notice is given when deposited in the United
States mail, with postage thereon prepaid, directed to the stockholder at his address as it appears on the record of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25pt; text-indent: 0.85in; background-color: white">SECTION
5. <U>Waiver of Notice</U>. The transactions of any meeting of stockholders, however called and with whatever notice, if any, are
as valid as those at a meeting duly held after regular call and notice, if: (a) all the stockholders entitled to vote are present
in person or by proxy and no objection to holding the meeting is made by any stockholder; or if (b) a quorum is present either
in person or by proxy and no objection to holding the meeting is made by anyone so present, and if, either before or after the
meeting, each of the persons entitled to vote, not present in person or by proxy, signs a written waiver of notice, or a consent
to the holding of the meeting, or an approval of the action taken as shown by the minutes thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.25pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.1pt; background-color: white">Whenever
notice is required to be given to any stockholder, a written waiver thereof signed by such stockholder, whether before or after
the time thereon stated, shall be deemed equivalent to such notice. Attendance of a person at a meeting of stockholders shall constitute
a waiver of notice of such meeting, except when such stockholder attends for the express purpose of objecting, at the beginning
of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business
to be transacted at, nor the purpose of, any meeting of stockholders need be specified in any written waiver of notice thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.1pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">SECTION
6. <U>Qualification of Voters</U>. Except as may be otherwise provided in the Certificate of Incorporation, every stockholder of
record shall be entitled to one vote on each matter submitted to a vote at a meeting of stockholders for every share standing in
his name on the record of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.55pt; background-color: white">SECTION
7. <U>Quorum</U>. At any meeting of the stockholders the presence, in person or by proxy, of the holders of a majority of the shares
entitled to vote thereat shall constitute a quorum for the transaction of any business. When a quorum is once present to organize
a meeting, it is not broken by the subsequent withdrawal of any stockholders. The stockholders present may adjourn the meeting
despite the absence of a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white">SECTION
8. <U>Proxies</U>. Every stockholder entitled to vote at a meeting of stockholders or to express consent or dissent without a meeting
may authorize another person or persons to act for him by proxy. Every proxy must be executed by the stockholder or his attorney-in-fact.
No proxy shall be valid after the expiration of three years from the date thereof unless otherwise provided in the proxy. Every
proxy shall be revocable at the pleasure of the stockholder executing it, except as otherwise provided therein and as permitted
by law. Except as otherwise provided in the proxy, any proxy holder may appoint in writing a substitute to act in his place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.85pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">SECTION
9. <U>Voting</U>. <STRIKE>Except as otherwise required by law, directors shall be elected by a plurality of the votes cast at
a meeting of stockholders by the holders of shares entitled to vote in the election.</STRIKE> Whenever any corporate action<STRIKE>,
other than the election of directors,</STRIKE> is to be taken by vote of the stockholders at a meeting, it shall, except as otherwise
required by <FONT STYLE="color: #99CCFF"><U>Section 10 of this Article I, by</U></FONT> law or <FONT STYLE="color: #99CCFF"><U>by
</U></FONT>the Certificate of Incorporation, be authorized by a majority of the votes cast thereat, in person or by proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white"><FONT STYLE="color: #99CCFF"><U>SECTION
10.&#9; Election of Directors.&#9;No person may be nominated for election as a director who has not agreed to resign from the
Board upon failing to receive a majority of the votes cast in an election that is not a Contested Election (as defined below),
contingent upon the acceptance of the proffered resignation by the Board of Directors, with the recommendation of the governance
committee (if any) of the Board. Each such director shall submit his or her resignation within five (5) business days after the
election in which the director fails to receive a majority of the votes cast. In a Contested Election, directors shall be elected
by a plurality of the votes cast. An election of directors is a &ldquo;Contested Election&rdquo; if, as of the tenth (10<SUP>th</SUP>)
day preceding the date the Corporation first mails its notice of meeting to the stockholders, or at any time thereafter, the number
of nominees exceeds the number of directors to be elected at that meeting. &#9;</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">SECTION 1<STRIKE>0</STRIKE><FONT STYLE="color: #99CCFF"><U>1</U></FONT>.
<U>Action Without a Meeting</U>. Whenever stockholders are required or permitted to take any action at a meeting or by vote, such
action may be taken without a meeting, without prior notice and without a vote, by consent in writing 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. Prompt notice
of the taking of the corporate action without a meeting by less than unanimous written consent shall be given to those stockholders
who have not consented in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.3pt; background-color: white">SECTION
1<STRIKE>1</STRIKE><FONT STYLE="color: #99CCFF"><U>2</U></FONT>. <U>Record Date</U>. The Board of Directors is authorized to designate
a day, not more than sixty days nor less than ten days prior to the day of holding any meeting of stockholders, as the day as
of which those stockholders entitled to notice of, and to vote at, such meeting shall be determined; and only stockholders of
record on such day shall be entitled to notice or to vote at such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.3pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 61.9pt; background-color: white">SECTION
1<STRIKE>2</STRIKE><FONT STYLE="color: #99CCFF"><U>3</U></FONT>. <U>List of Stockholders Entitled to Vote</U>. The officer who
has charge of the stock ledger of the Corporation shall prepare and make, at least ten days before every meeting of stockholders,
a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of
each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination
of any stockholder, for any purpose germane to the meeting, during ordinary business hours, for a period of at least ten days
prior to the meeting, either at a place within the city where the meeting is to be held (which place shall be specified in the
notice of the meeting), or, if not so specified, at the place where the meeting is to be held. The list shall also be produced
and kept at the time and place of the meeting during the whole time thereof, and may be inspected by any stockholder who is present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">SECTION
1<STRIKE>3</STRIKE><FONT STYLE="color: #99CCFF">4</FONT>. <U>Inspectors of Election</U>. The Chairman of any meeting of the stockholders
may appoint one or more Inspectors of Election. Any Inspector so appointed to act at any meeting of the stockholders, before entering
upon the discharge of his duties, shall be sworn faithfully to execute the duties of an Inspector at such meeting with strict
impartiality, and according to the best of his ability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 61.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">ARTICLE
II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">BOARD
OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-align: center; text-indent: 26.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Power of Board and Qualification of Directors</U>. The business and affairs of the Corporation shall be managed by the Board
of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 2. <U>Number
of Directors</U>. The number of directors constituting the whole Board of Directors shall be such number not less than one nor
more than fifteen as may be fixed from time to time by resolution adopted by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.7pt; text-indent: 0.85in; background-color: white">SECTION
3. <U>Election, Classes and Term of Directors</U>. As provided in ARTICLE SEVENTH of the Certificate of Incorporation of the Corporation,
the directors shall be divided into three classes as nearly equal in number as possible. Each class of directors shall be elected
for a term of three years. At each annual meeting of stockholders, directors of one class shall be elected to serve until the end
of the three year term and until their respective successors are elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.3in 0pt 0.7pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">SECTION
4. <U>Resignations</U>. Any director of the Corporation may resign at any time by giving written notice to the Board of Directors,
the Chairman of the Board, the President or the Secretary of the Corporation. Such resignation shall take effect at the time specified
therein; and unless otherwise specified therein <FONT STYLE="color: #99CCFF"><U>and except as provided in Section 10 of Article I
of these By-Laws,</U></FONT> the acceptance of such resignation shall not be necessary to make it effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">SECTION
5. <U>Removal of Directors</U>. Any or all of the directors may be removed with or without cause by vote of the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">SECTION
6. <U>Newly Created Directorships and Vacancies</U>. Newly created directorships resulting from an increase in the number of
directors or vacancies occurring in the Board of Directors for any reason, except the removal of directors by stockholders
without cause, may be filled by vote of a majority of the directors then in office, even if less than a quorum exists, or may
be filled by a sole remaining director. Vacancies occurring as a result of the removal of directors by stockholders without
cause shall be filled by the stockholders. Any director elected to fill a vacancy or a newly created directorship shall be
elected to hold office until the next election of the class for which such director shall have been chosen, and until such
director&rsquo;s successor shall be elected and qualified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.9pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: 61pt; background-color: white">SECTION
7. <U>Executive and Other Committees of Directors</U>. The Board of Directors, by resolution adopted by a majority of the whole
Board, may designate from among its members an executive committee and other committees to serve at the pleasure of the Board of
Directors, each consisting of one or more directors, and each of which, to the extent provided in the resolution, shall have all
the authority of the Board to the full extent authorized by law, including the power or authority to declare a dividend or to authorize
the issuance of stock. The Board of Directors may designate one or more directors as alternate members of any such committee, who
may replace any absent member or members at any meeting of such committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 61pt; background-color: white">SECTION
8. <U>Compensation of Directors</U>. The Board of Directors shall have authority to fix the compensation of directors for services
in any capacity, or to allow a fixed sum plus expenses, if any, for attendance at meetings of the Board or of committees designated
thereby. No such payment shall preclude any director from serving the Corporation in any other capacity and receiving compensation
therefor. Members of any special committee may be allowed compensation for attending committee meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">SECTION 9. <U>Interest
of Director in a Transaction</U>. No contract or transaction between the Corporation and one or more of its directors or officers,
or between the Corporation and any other corporation, partnership, association or other organization in which one or more of its
directors or officers are directors or officers, or have a financial interest, shall be void or voidable solely for this reason,
or solely because the director or officer is present at or participates in the meeting of the Board or committee thereof which
authorizes the contract or transaction, or solely because his or their votes are counted for such purpose, if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.75pt; text-indent: 63.55pt; background-color: white">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The material facts as to his relationship or interest and as to the contract or transaction are disclosed or are known to
the Board of Directors or the committee, and the Board or committee in good faith authorizes the contract or transaction by the
affirmative votes of a majority of the disinterested directors, even though the disinterested directors be less than a quorum;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.75pt; text-indent: 63.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.9pt; text-indent: 63.55pt; background-color: white">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The material facts as to his relationship or interest and as to the contract or transaction
are disclosed or are known to the stockholders entitled to vote thereon, and the contract or transaction is specifically approved
in good faith by vote of the stockholders; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 34.9pt; text-indent: 63.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.65pt; text-indent: 62.8pt; background-color: white">(c)
The contract or transaction is fair as to the Corporation as of the time it is authorized, approved or ratified, by the Board of
Directors, a committee thereof, or the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.65pt; text-indent: 62.8pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">Common or interested
directors may be counted in determining the presence of a quorum at a meeting of the Board of Directors or of a committee which
authorizes the contract or transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">ARTICLE
III.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">MEETINGS
OF THE BOARD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 133.4pt 0pt 130.85pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.65pt; background-color: white">SECTION
1. <U>Regular Meetings</U>. Regular meetings of the Board of Directors may be held without notice at such times and places, within
or without the State of Delaware or the United States of America, as may from time to time be fixed by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 61.4pt; background-color: white">SECTION
2. <U>Special Meetings; Notice; Waiver</U>. Special meetings of the Board of Directors may be held at any time and place,
within or without the State of Delaware or the United States of America, upon the call of the Chairman of the Board, the
President or the Secretary, by oral, telegraphic or written notice, duly given to or sent or mailed to each director not less
than two days before such meeting. Special meetings shall be called by the Chairman of the Board, the President or the
Secretary on the written request of any two directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">Notice of a special
meeting need not be given to any director who submits a signed waiver of notice whether before or after the meeting, or who attends
the meeting without protesting, prior thereto or at its commencement, the lack of notice to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.5pt; background-color: white">A notice,
or waiver of notice, need not specify the purpose of any special meeting of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 60.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.9pt; background-color: white">SECTION
3. <U>Quorum; Action by the Board; Adjournment</U>. At all meetings of the Board of Directors, a majority of the whole Board shall
constitute a quorum for the transaction of business, except that when the number of directors constituting the whole Board shall
be an even number, one-half of that number shall constitute a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">The
vote of a majority of the directors present at the time of the vote, if a quorum is present at such time, shall be the act of the
Board, except as may be otherwise specifically provided by law or by the Certificate of Incorporation or by these By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.65pt; background-color: white">A majority
of the directors present, whether or not a quorum is present, may adjourn any meeting to another time and place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.6pt; text-indent: 60.65pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 0.85in; background-color: white">SECTION
4. <U>Action Without a Meeting</U>. Action taken by a majority of the directors or members of a committee without a meeting is
nevertheless Board or committee action if written consent to the action in question is signed by all the directors or members of
the committee, as the case may be, and filed with the minutes of the proceedings of the Board or committee, whether done before
or after the action so taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">SECTION 5. <U>Action
Taken by Conference Telephone</U>. Members of the Board of Directors or any committee thereof may participate in a meeting by means
of conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear
each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE IV.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">OFFICERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.5pt; background-color: white">SECTION
1. <U>Officers</U>. The Board of Directors shall elect a Chairman of the Board, a President, one or more Vice Presidents, a Secretary
and a Treasurer of the Corporation and from time to time may elect or appoint such other officers as it may determine. Any two
or more offices may be held by the same person. All officers shall exercise such powers and perform such duties as shall be determined
from time to time by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; text-indent: 60.5pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25pt; text-indent: 60.85pt; background-color: white">SECTION
2. <U>Term of Office; Removal</U>. Each officer shall hold office for such term as may be prescribed by the Board and may be removed
at any time by the Board with or without cause. The removal of an officer without cause shall be without prejudice to his contract
rights, if any. The election or appointment of an officer shall not of itself create contract rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.9pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">SECTION 3. <U>Compensation</U>.
The compensation of all officers of the Corporation shall be fixed by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 61pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE V.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">INDEMNIFICATION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">SECTION 1. <U>Indemnification</U>.
The Corporation shall indemnify its officers, directors, employees and agents to the full extent permitted by the Delaware General
Corporation Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">ARTICLE
VI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">SHARE
CERTIFICATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 52.55pt; background-color: white">SECTION
1. <U>Form of Share Certificates</U>. The shares of the Corporation shall be represented by certificates, in such form as the Board
of Directors may from time to time prescribe, signed by the Chairman of the Board or Vice Chairman of the Board, or the President
or a Vice President, and by the Secretary, an Assistant Secretary, the Treasurer or an Assistant Treasurer, and shall be sealed
with the seal of the Corporation or a facsimile thereof. The signatures of the officers upon a certificate may be facsimiles if
the certificate is countersigned by a transfer agent or registered by a registrar other than the Corporation or its employees.
In case any such officer who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be
such officer before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer
at the date of issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 52.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 0.85in; background-color: white">SECTION
2. <U>Lost Certificates</U>. In case of the loss, theft, mutilation or destruction of a stock certificate, a duplicate certificate
will be issued by the Corporation upon notification thereof and receipt of such proper indemnity as shall be prescribed by the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt; text-indent: 60.85pt; background-color: white">SECTION
3. <U>Transfer of Shares</U>. Transfers of shares of stock shall be made upon the books of the Corporation by the registered holder
in person or by duly authorized attorney, upon surrender of the certificate or certificates for such shares properly endorsed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.1pt; text-indent: 60.85pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white">SECTION
4. <U>Registered Stockholders</U>. Except as otherwise provided by law, the Corporation shall be entitled to recognize the exclusive
right of a person registered on its books as the owner of shares to receive dividends or other distributions and to vote as such
owner, and to hold such person liable for calls and assessments, and shall not be bound to recognize any equitable or legal claim
to or interest in such share or shares on the part of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.8pt; text-indent: 0.85in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.85pt 0pt 119.15pt; text-align: center; background-color: white">ARTICLE
VII. MISCELLANEOUS PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 123.85pt 0pt 119.15pt; text-align: center; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.9pt; text-indent: 61.55pt; background-color: white">SECTION
1. <U>Corporate Seal</U>. The corporate seal shall have inscribed thereon the name of the Corporation and such other appropriate
legend as the Board of Directors may from time to time determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.9pt; text-indent: 61.55pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.75pt; background-color: white">SECTION
2. <U>Fiscal Year</U>. The fiscal year of the Corporation shall be fixed by resolution of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-indent: 61.75pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 61.75pt; background-color: white">SECTION
3. <U>Checks and Notes</U>. All checks and demands for money and notes or other instruments evidencing indebtedness or obligations
of the Corporation shall be signed by such officer or officers or other person or persons as the Board of Directors may from time
to time designate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.35pt; text-indent: 61.75pt; background-color: white"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE VIII.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">AMENDMENTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Power to Amend</U>. By-Laws of the Corporation may be adopted, amended or repealed by the Board of Directors, subject to
amendment or repeal by the stockholders entitled to vote thereon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">ARTICLE IX.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">FORUM SELECTION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">SECTION
1. <U>Forum for Adjudication of Certain Disputes</U>. Unless the Corporation consents in writing to the selection of an alternative
forum (an &ldquo;Alternative Forum Consent&rdquo;), the Court of Chancery of the State of Delaware shall be the sole and exclusive
forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach
of a fiduciary duty owed by any director, officer, stockholder, employee or agent of the Corporation to the Corporation or the
Corporation's stockholders, (iii) any action asserting a claim against the Corporation or any director, officer, stockholder, employee
or agent of the Corporation arising out of or relating to any provision of the General Corporation Law of Delaware or the Corporation's
Certificate of Incorporation or By-Laws, or (iv) any action asserting a claim against the Corporation or any director, officer,
stockholder, employee or agent of the Corporation governed by the internal affairs doctrine of the State of Delaware; provided,
however, that, in the event that the Court of Chancery of the State of Delaware lacks subject matter jurisdiction over any such
action or proceeding, the sole and exclusive forum for such action or proceeding shall be another state or federal court located
within the State of Delaware, in each such case, unless the Court of Chancery (or such other state or federal court located within
the State of Delaware, as applicable) has dismissed a prior action by the same plaintiff asserting the same claims because such
court lacked personal jurisdiction over an indispensable party named as a defendant therein. Failure to enforce the foregoing provisions
would cause the Corporation irreparable harm and the Corporation shall be entitled to equitable relief, including injunctive relief
and specific performance, to enforce the foregoing provisions. Any person or entity purchasing or otherwise acquiring any interest
in shares of stock of the Corporation shall be deemed to have notice of and consented to the provisions of this Section 1 of Article
IX. If any action the subject matter of which is within the scope of this Section 1 of Article IX is filed in a court other than
the Court of Chancery of the State of Delaware (or any other state or federal court located within the State of Delaware, as applicable)
(a &quot;Foreign Action&quot;) by or in the name of any stockholder, such stockholder shall be deemed to have consented to (i)
the personal jurisdiction of the Court of Chancery of the State of Delaware (or such other state or federal court located within
the State of Delaware, as applicable) in connection with any action brought in any such court to enforce this Section 1 of Article
IX and (ii) having service of process made upon such stockholder in any such action by service upon such stockholder's counsel
in the Foreign Action as agent for such stockholder. The existence of any prior Alternative Forum Consent shall not act as a waiver
of the Corporation's ongoing consent right as set forth above in this Section 1 of Article IX with respect to any current or future
actions or claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.45pt; text-indent: 0.85in; background-color: white"></P>

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