<SUBMISSION>
<ACCESSION-NUMBER>0000914062-08-000480
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20081022
<ITEMS>3.03
<ITEMS>5.02
<ITEMS>5.03
<ITEMS>9.01
<FILING-DATE>20081028
<DATE-OF-FILING-DATE-CHANGE>20081028
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CRYOLIFE INC
<CIK>0000784199
<ASSIGNED-SIC>3841
<IRS-NUMBER>592417093
<STATE-OF-INCORPORATION>FL
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-13165
<FILM-NUMBER>081144583
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1655 ROBERTS BOULEVARD N W
<STREET2>STE 142
<CITY>KENNESAW
<STATE>GA
<ZIP>30144
<PHONE>7704193355
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1655 ROBERTS BOULEVARD N W
<STREET2>STE 142
<CITY>KENNESAW
<STATE>GA
<ZIP>30144
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>cryolife8k102208.htm
<DESCRIPTION>8-K
<TEXT>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
of Report (Date of earliest event reported):&#160;&#160;October 22,
2008</font></div>
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INC.</font></div>
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Roberts Boulevard, N.W., Kennesaw, Georgia&#160;&#160;30144</font></div>
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A.2. below):</font></div>
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              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
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              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
3.03 Material Modification to Rights of Security Holders.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 45.8pt"></font>The description of the amendments to
Article XIV of the Bylaws of CryoLife, Inc. (&#8220;CryoLife&#8221; or the &#8220;Company&#8221;) set
forth in Item 5.03 below is incorporated by reference into this Item
3.03.&#160;&#160;Among other things, Article XIV governs the requirements for
shareholders to present proposals at meetings of shareholders and to have such
proposals included in Company proxy materials.&#160;&#160;The provision was
revised effective October 22, 2008.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Change of Control Agreement
with D. Ashley Lee</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>On October 24, 2008, CryoLife entered
into a change of control agreement (the &#8220;Agreement&#8221;) with D. Ashley Lee, the
Company&#8217;s Executive Vice President, Chief Operating Officer and Chief Financial
Officer.&#160;&#160;The Agreement provides that the Company will pay to Mr. Lee
a severance payment if he is terminated by the Company without cause or
terminates his own employment for good reason for a period extending from six
months before to two years after a change of control of the
Company.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The material terms of the Agreement are
as follows:</font></div>
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    <div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      initial term of the Agreement ends September 1, 2011 and renews on
      September 1, 2011 and every three-year anniversary thereafter, for an
      additional three-year term, unless the Company gives notice to Mr. Lee at
      least thirty days prior to the end of the current term that the Agreement
      shall not be extended.</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      severance payment is an amount equal to two times the aggregate of Mr.
      Lee&#8217;s base salary as of the date of termination and bonus compensation for
      the year in which the termination of employment occurs (or if the bonus
      for that year has not yet been awarded, the most recently awarded bonus
      compensation).</font></div>
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    <div>
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            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Change
      of control means a change in the ownership of the Company, a change in the
      effective control of the Company or a change in the ownership of a
      substantial portion of the assets of the Company, as further defined
      within the Agreement.</font></div>
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    <div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Agreement is not an employment agreement and both parties acknowledge that
      Mr. Lee&#8217;s employment is &#8220;at will.&#8221;</font></div>
            </td>
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    <div>
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            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
      Lee agrees not to solicit any actual or prospective customers of CryoLife
      with whom he has had contact for a competing business or to solicit
      employees of CryoLife to leave the Company and join a competing business
      during the term of the Agreement and for a period of one year following
      the termination of the Agreement.</font></div>
            </td>
          </tr>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
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            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
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            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company is not required to make the severance payment and Mr. Lee is
      required to repay any portion of the severance payment already received if
      he solicits customers or employees of CryoLife during the term of the
      Agreement and for a period of one year following the termination of the
      Agreement.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-2-</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 45.8pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to the
Bylaws</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 45.8pt"></font>The description of new Article VI to
the Bylaws of CryoLife set forth in Item 5.03 below is incorporated by reference
into this Item 5.02.&#160;&#160;Revisions to Article VI were effective October
22, 2008, and provide executive officers, as well as directors, with expanded
rights to indemnification and advancement of expenses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a) The Board of Directors (the
&#8220;Board&#8221;) of CryoLife, upon recommendation of the Nominating and Corporate
Governance Committee, amended and restated the Bylaws of the Company as of
October 22, 2008.&#160;&#160;The indemnification provisions contained in the
amended and restated Bylaws were also recommended by the Compensation Committee
of the Board.&#160;&#160;In addition to minor clerical revisions, the Board made
the following substantive amendments:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Registered
Office</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      I was amended to clarify that the Company will maintain a registered
      office in the state of Florida, as required by applicable law, and that
      the Company&#8217;s registered agent may change the registered office when
      necessary.&#160;&#160;Previously, the Bylaws did not address the Company&#8217;s
      registered office.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Shareholder
Meetings</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 3 was amended to resolve an ambiguity by clarifying that if no
      place has been expressly designated as the location for a shareholder
      meeting, the meeting shall be held at the Company&#8217;s principal executive
      offices.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 4 was amended to allow the Company to distribute notices of
      meetings to shareholders by any means allowable under Florida
      law.&#160;&#160;Previously, the Bylaws required notices to be delivered
      personally or by first class mail.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 5, which facially allowed shareholders to take action where
      holders of 4/5ths of the outstanding shares signed a written consent on
      the record of the meeting, was removed as no longer applicable under
      Florida law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      new Article II, Section 5 was adopted to clarify the circumstances under
      which shareholders may waive notice of a meeting, and under which
      attendance at a meeting constitutes a waiver of
  notice.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 6 was amended to expand the list of locations where the
      Company can maintain the list of shareholders entitled to vote at a given
      meeting.&#160;&#160;Previously the list was required to be made available
      at the Company&#8217;s principal executive offices.&#160;&#160;After the
      revision, the Company may choose to have the list instead maintained at
      the office of the transfer agent or at any location identified in the
      notice of the meeting.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 7 was amended to clarify quorum requirements, the proper
      procedure for adjournment and the calling of a new meeting if a quorum is
      not present.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-3-</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 8 was amended to remove the restriction on voting trust
      agreements and to move the provisions governing the setting of record
      dates to Article VIII.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 9 was amended to reflect changes in Florida law, which among
      other things allow for electronic transmission of
  proxies.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 10 was added in order to provide general guidelines for the
      conduct of shareholder meetings.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      II, Section 11 was added in order to allow the Board to adopt guidelines
      and procedures for shareholders and proxy holders not physically present
      at a shareholder meeting to participate in such meeting and to allow the
      Board to adopt guidelines and procedures for conducting a shareholder
      meeting solely by means of remote
communication.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 18pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Board
Meetings</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      III, Section 6 was amended so as to require that notice of any special
      meetings of the Board be given two (2) days prior to such meeting, instead
      of three (3), and to clarify that such notice can be communicated by any
      means permissible by law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      III, Section 8 was added in order to provide general guidelines for the
      conduct and adjournment of Board meetings, and to provide for the
      appointment of a Presiding Director.&#160;&#160;New Section 8 also
      provides guidelines for remote participation in such meetings and
      supersedes prior Section 13 regarding telephonic meetings, which has been
      removed.&#160;&#160;Previously, the Bylaws did not provide any guidelines
      for the conduct of Board meetings.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      III, Section 10 (formerly Section 9) was amended to address the procedures
      for filling vacancies on the Board when the vacancy results from expansion
      of the Board or when an appointment occurs in advance of the
      vacancy.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      V, Section 4 was amended to clarify procedures applicable to calling and
      holding committee meetings.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Officers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      IV, Section 1 was amended to provide that the Board shall designate from
      among the officers it appoints which officers constitute executive
      officers responsible for policy-making
  functions.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      IV, Section 3 was amended to clarify that as provided by law, the Board
      can remove any officer, regardless of whether he or she was appointed by
      the Board, and that an officer can be removed with or without
      cause.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      IV, Section 5 was amended to clarify that the Presiding Director is not an
      officer of the Company, and that the Board retains flexibility to
      authorize an officer to prescribe the duties of other
      officers.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-4-</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Indemnification of Directors
and Officers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      VI was replaced in its entirety.&#160;&#160;New Article VI more closely
      tracks current Florida law and clarifies a number of points in light of
      recent legal developments regarding the interpretation of indemnification
      bylaws.&#160;&#160;Previous Article VI provided that the Company was
      required to indemnify any officer or director (or former officer or
      director, his personal representatives, devisees or heirs) whenever a
      majority of the entire Board of Directors determined, in their judgment,
      that certain criteria set forth in former Section 607.14, Florida
      Statutes, were met.&#160;&#160;Under the new provisions, indemnification
      is available only if the person to be indemnified acted in good faith and
      in a manner he or she reasonably believed to be in, or not opposed to, the
      best interest of the corporation and, with respect to any criminal action
      or proceeding, had no reasonable cause to believe that his or her conduct
      was unlawful.&#160;&#160;The corporation will have no obligation to
      provide indemnification until a determination has been made that the
      appropriate standard of conduct has been met and that indemnification is
      not prohibited by relevant law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;
      </font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
      salient features of new Article VI
include:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">There
      is provision for mandatory advancement of expenses incurred by a director
      or officer in defending a proceeding if specified standards are met (the
      prior provision did not provide for advancement of
    expenses)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
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            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rights
      continue as to a person who has ceased to be a director or
      officer</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Rights
      under this provision are binding contract rights which are binding on the
      Company with respect to any conduct that takes place while the Bylaw
      remains in place, even if the Bylaw is later
  amended</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
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            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company will not be obligated to indemnify directors and officers for
      proceedings initiated by them except for certain compulsory counterclaims
      and suits to recover rights to indemnification or advancement under
      Article VI</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
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            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company will have no obligation to indemnify an officer or director for
      any settlement effected without its consent, nor for any judgment awarded
      in a proceeding in which the Company was not given an appropriate
      opportunity to participate.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Uncertificated
Stock</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      VII was amended to refine the requirements and procedures related to the
      issuance of uncertificated shares.&#160;&#160;Among other things, these
      changes clarify that a holder of uncertificated shares is not entitled to
      demand a certificate from the Company, and that stock certificates may be
      in any form approved by the Board of Directors and allowed by
      law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Record
Date</font></font></div>
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            <td align="right" style="WIDTH: 45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      VIII was amended to more closely conform to Florida law.&#160;&#160;After
      the amendment, the record date for a shareholder meeting or other action
      generally cannot be more than 70 days prior to the meeting or other
      action, and it may be set as close to the date of the meeting or other
      action as the Board may find desirable.&#160;&#160;Previously, the Bylaws
      provided that the record date could not be more than 60 days prior to the
      meeting or other action, and had to be at least 10 days prior to the
      meeting or other action.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-5-</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 45pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
      Article VIII, Section 2 clarifies that as set forth by relevant law, the
      record date for determining shareholders entitled to demand a special
      meeting will be the close of business on the date the first shareholder
      delivers his or her demand to the
corporation.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Fiscal
Year</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      X was revised to clarify that the Board has flexibility to revise the
      fiscal year if it so chooses.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Stock in Other
Corporations</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      provision has been added to Article XII to provide that unless otherwise
      directed by the Board of Directors, the Chief Executive Officer shall be
      responsible for voting any securities in other corporations held by the
      Company.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments to the
Bylaws</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      XIII was amended to more closely conform the language to the requirements
      of Florida law.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Advance Notice of
Shareholder Nominations and Proposals</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Article
      XIV was amended to clarify the advance notice requirements for shareholder
      proposals relating to nomination for and election of directors and to
      clearly differentiate the procedures and requirements for such proposals
      from other business to be transacted at shareholder
      meetings.&#160;&#160;Article XIV, as amended, provides
    that:</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">shareholders
      must now disclose certain underlying motives that may give rise to a
      director nomination, such as any material monetary agreements,
      arrangements or understandings between a stockholder and his or her
      nominee.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">with
      respect to shareholder proposals, shareholders must now provide the
      Company with certain required information related to not only themselves
      but also with respect to specified
affiliates.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">nominees
      for election or reelection as director must now complete a questionnaire
      with respect to the background and qualification of such person and a
      written representation and agreement disclosing certain arrangements that
      may prevent the candidate from acting in the best interests of the
      Company.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
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          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      advance notice provisions of the Bylaws now clarify that they are
      applicable regardless of whether the shareholder making the proposal
      intends to utilize Rule 14a-8, promulgated by the SEC pursuant to the
      Securities Exchange Act of 1934, as amended, to access the Company&#8217;s proxy
      statement.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">-6-</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; TEXT-DECORATION: underline">Emergency
Bylaws</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
      Article XVI provides a set of emergency bylaws that will become
      temporarily effective in the event the Board cannot be assembled due to a
      catastrophic event.&#160;&#160;The emergency bylaws will suspend certain
      of the regularly effective bylaws during the pendency of any such
      emergency.&#160;&#160;For example, during an emergency, any officer or
      director will be able to call a meeting of the board of directors, and
      notice and quorum requirements are greatly relaxed.&#160;&#160;The
      emergency bylaws also allow for the appointment of temporary directors in
      the event that no directors are available to call or attend a meeting of
      directors.&#160;&#160;Any director, officer or employee taking action
      pursuant to the emergency bylaws will be shielded from liability for any
      conduct other than willful
misconduct.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The amended and restated Bylaws of the
Company are attached as Exhibit 3.1 to this Current Report on Form 8-K and are
incorporated by reference herein.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01(d)&#160;&#160;&#160;Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
Financial Statements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Not applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) Pro
Forma Financial Information.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Not applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) Shell
Company Transactions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Not applicable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
Exhibits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <div align="justify">
        <div align="justify">
          <div align="justify">
            <table cellpadding="0" cellspacing="0" width="100%">
                <tr>
                  <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="top" width="21%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Exhibit Number</font></font></div>
                  </td>
                  <td valign="top" width="75%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline"><font style="DISPLAY: inline">Description</font></font></div>
                  </td>
                </tr>
                <tr>
                  <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td valign="top" width="21%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  <td valign="top" width="75%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  <td align="left" valign="top" width="21%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">3.1</font></div>
                  </td>
                  <td align="left" valign="top" width="75%">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Bylaws
      of CryoLife, Inc., as amended and restated as of <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">October
      22, 2008</font></font></div>
                  </td>
                </tr>
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Lee</font></div>
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to the requirements of the Securities Exchange Act of 1934, CryoLife, Inc. has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
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      INC.</font></div>
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              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
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      </font></td>
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              <td valign="top" width="44%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
              <td valign="top" width="52%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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      28, 2008</font></div>
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      Lee</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
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      Ashley Lee</font></div>
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<DOCUMENT>
<TYPE>EX-3.1
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<FILENAME>cryolife8k102208ex3.htm
<DESCRIPTION>BYLAWS
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">Exhibit
3.1</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">OF</font></div>
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INC.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
I</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Offices</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
1.&#160;&#160;Principal and Business Offices</font>.&#160;&#160;The corporation
may have such principal and other business offices, either within or without the
State of Florida, as the Board of Directors may from time to time determine or
the business of the corporation may require.&#160;&#160;The corporation&#8217;s
principal office is the office where the corporation&#8217;s principal executive
offices are located.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Registered
Office</font>.&#160;&#160;The registered office of the corporation, for so long
as required by applicable law, shall be maintained in the State of
Florida.&#160;&#160;The address of the registered office may be changed from
time to time by the Board of Directors or the registered agent.&#160;&#160;The
business office of the registered agent of the corporation shall be identical to
such registered office.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
II</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Shareholders</font></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. Annual
Meeting.</font>&#160;&#160;The annual meeting of the shareholders shall be held
within the seven (7) month period beginning with the first day of the last month
of the fiscal year of the corporation for the purpose of electing Directors and
for the transaction of such other business as may properly come before the
meeting, the actual day thereof to be set forth in the Notice of Meeting or in
the Waiver of Call and Notice of Meeting.&#160;&#160;If the election of
Directors shall not be held at any such annual meeting of the shareholders or at
any adjournment thereof, the Board of Directors shall cause the election to be
held at a special meeting of the shareholders as soon thereafter as may be
convenient.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Special
Meetings.</font>&#160;&#160;Special meetings of the shareholders for any
purposes, unless otherwise prescribed by law or by the Articles of
Incorporation, may be called by the President or Secretary at the request in
writing of the majority of the Board of Directors then in
office.&#160;&#160;Special meetings of the shareholders may also be called by
shareholders in the manner provided in the Company&#8217;s Articles of
Incorporation.&#160;&#160;Business transacted at a special meeting of the
shareholders shall be limited to the purposes stated in the notice
thereof.</font></div>
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Meeting.</font>&#160;&#160;The Board of Directors may designate any place,
whether within or without the State of Florida unless otherwise prescribed by
law or by the Articles of Incorporation, as the place of meeting for any annual
meeting or for any special meeting of the shareholders.&#160; A waiver of notice
signed by all shareholders entitled to vote at a meeting may designate any
place, either within or without the State of Florida unless otherwise prescribed
by law or by the Articles of Incorporation, as the place for the holding of such
meeting.&#160;&#160;If no designation is made, the place of meeting shall be the
principal office of the corporation.</font></div>
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Meeting.</font>&#160;&#160;Written or printed notice stating the place, day and
hour of the meeting, and in the case of a special meeting, the purpose or
purposes for which the meeting is called, shall be delivered not less than ten
(10) nor more than sixty (60) days before the date of the meeting, by or at the
direction of the President or the Secretary, or the officer or persons that
called the meeting, to each shareholder of record entitled to vote at such
meeting<font style="DISPLAY: inline; FONT-WEIGHT: bold">, </font>except that no
notice of a meeting need be given to any shareholder if such notice is not
required to be given under applicable law.&#160;&#160;Notices shall be delivered
in the manner provided under applicable law. If mailed, such notice shall be
deemed to be delivered when deposited in the United States mail, addressed to
the shareholder at his address as it appears on the stock transfer books of the
corporation, with postage thereon prepaid.</font></div>
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of Call and Notice of Meeting</font>.&#160;&#160;Call and notice of any
shareholders&#8217; meeting may be waived by any shareholder before or after the date
and time set for the meeting. Such waiver must be in writing, signed by the
shareholder and delivered to the corporation for inclusion in the minutes or
filing with the corporate records. Neither the business to be transacted at nor
the purpose of any special or annual meeting need be specified in such waiver. A
shareholder&#8217;s attendance at a meeting (a)&#160;waives such shareholder&#8217;s ability
to object to lack of notice or defective notice of the meeting, unless the
shareholder at the beginning of the meeting objects to holding the meeting or
transacting business at the meeting; and (b)&#160;waives such shareholder&#8217;s
ability to object to consideration of a particular matter at the meeting that is
not within the purpose or purposes described in the meeting notice, unless the
shareholder objects to considering the matter when it is presented.</font></div>
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Lists</font>.&#160;&#160;The officer or agent having charge of the stock
transfer books for shares of the corporation shall make, at least ten (10) days
before each meeting of shareholders, a complete list of the shareholders
entitled to vote at such meeting, or any adjournment thereof, arranged in
alphabetical order, with the address of, and the number and class and series of
shares held by, each.&#160;&#160;The list must be made available for inspection
by any shareholder for a period of ten (10) days prior to such meeting (or for
such shorter time as exists between the record date and the meeting) at any one
of the following locations:&#160;&#160;(a) the principal office of the
corporation; (b) at a place identified in the meeting notice in the city where
the meeting will be held; or (c) at the office of the corporation&#8217;s transfer
agent or registrar. The list<font style="DISPLAY: inline">&#160;</font>shall be
subject to inspection by any shareholder or his agent or attorney during the
whole time of the meeting or any adjournment.&#160;&#160;The list shall be prima
facie evidence as to the identity of the shareholders entitled to examine such
list or to vote at any meeting of the shareholders.</font></div>
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Adjournment.</font>&#160;&#160;</font></div>
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&#160;&#160;Shares entitled to vote as a separate voting group may take action
on a matter at a meeting only if a quorum of those shares exists with respect to
that matter. Unless the Articles of Incorporation or applicable law provides
otherwise, a majority of the votes entitled to be cast on a matter by a voting
group constitutes a quorum of that voting group for action on that matter. Once
a share is represented for any purpose at a meeting, it is deemed present for
quorum purposes for the remainder of the meeting and for any adjournment of that
meeting unless a new record date is or must be set for that adjourned
meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) If a
quorum is not present at a meeting, a majority of the shares represented at the
meeting, and who would be entitled to vote at a meeting if a quorum were
present, may adjourn the meeting from time to time. No new notice need be
distributed to shareholders so long as the new date, time and place for the
meeting are announced at the meeting before the adjournment is taken, and the
date of the adjourned meeting is no more than 120 days following the date fixed
for the original meeting; otherwise, a new record date must be fixed and notice
distributed in accordance with Section 4 above, except to the extent otherwise
provided by court order mandating adjournment to a date more than 120 days after
the date fixed for the original meeting.&#160;&#160;At any adjourned meeting at
which a quorum shall be present or represented, any business may be transacted
which might have been transacted at the meeting as originally notified or, in
the case of a special meeting for which a new notice was distributed, which is
described in the notice.&#160;&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 8. Voting of
Shares</font>.&#160;&#160;Except as provided in the Articles of Incorporation or
applicable law, and subject to the provisions of Article VIII of these Bylaws
regarding the fixing of a record date, each outstanding share, regardless of
class, is entitled to one vote on each matter voted on at a meeting of
shareholders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 9. Proxies</font>. A
shareholder, other person entitled to vote on behalf of a shareholder under
applicable law, or attorney in fact for a shareholder may vote the shareholder&#8217;s
shares in person or by proxy.&#160;&#160;A proxy may be appointed to vote or
otherwise act for the shareholder by any method authorized by applicable
law.&#160;&#160;Appointment of a proxy is effective when received by the
Secretary or other officer or agent of the corporation authorized to tabulate
votes. An appointment is valid for up to<font style="DISPLAY: inline">&#160;</font>eleven (11) months unless the appointment
expressly provides for a longer period.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
10.&#160;&#160;Conduct of Meeting. </font>The Chairman of the Board of
Directors, and in his or her absence, the Presiding Director (if any), and in
his or her absence, the President, and in his or her absence, any director
chosen by the directors present shall call a shareholders&#8217; meeting to order and
shall act as presiding officer of the meeting.&#160;&#160;The Secretary of the
corporation shall act as secretary of all meetings of the shareholders, but, in
the absence of the Secretary, the presiding officer may appoint any other person
to act as secretary of the meeting. The presiding officer of the meeting shall
have broad discretion in conducting the meeting and determining the order of
business at a shareholders&#8217; meeting. The presiding officer&#8217;s authority to
conduct the meeting shall include, but in no way be limited to, recognizing
shareholders entitled to speak, calling for the necessary reports, stating
questions and putting them to a vote, calling for nominations, and announcing
the results of voting. The presiding officer also shall take such actions as are
necessary and appropriate to preserve order at the meeting. The rules of
parliamentary procedure need not be observed in the conduct of shareholders&#8217;
meetings.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11. Conduct of
Meetings by Remote Communication</font>. The Board of Directors may adopt
guidelines and procedures for shareholders and proxy holders not physically
present at an annual or special meeting of shareholders to participate in the
meeting, be deemed present in person, vote, communicate and read or hear the
proceedings of the meeting substantially concurrently with such proceedings, all
by means of remote communication. The Board of Directors may adopt procedures
and guidelines for the conduct of an annual or special meeting solely by means
of remote communication rather than holding the meeting at a designated
place.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
III</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Board of
Directors</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. General
Powers.</font>&#160;&#160;The business and affairs of the corporation shall be
managed by its Board of Directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Number, Tenure
and Qualifications.</font>&#160;&#160;The number of Directors of the corporation
shall be not less than one (1) nor more the fifteen (15), the number of the same
shall be fixed by the Board of Directors at any regular or special
meeting.&#160;&#160;Each Director shall hold office until the next annual
meeting of shareholders and until his successor has been qualified, unless
sooner removed by the shareholders at any general or special
meeting.&#160;&#160;None of the Directors need be residents of the State of
Florida.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3. Annual
Meeting.</font>&#160;&#160;After each annual meeting of shareholders, the Board
of Directors shall hold its annual meeting immediately following such annual
meeting of shareholders for the purpose of the election of officers and the
transaction of such other business as may come before the
meeting.&#160;&#160;The place of such annual meeting shall be the same as the
place of the meeting of shareholders which precedes it, or such other suitable
place as may be announced at such meeting of shareholders, and may be held
remotely as provided in Section 8 below.&#160;&#160;The place and time of such
meeting may also be fixed by written consent of the Directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4. Regular
Meetings.</font>&#160;&#160;Regular meetings of the Board of Directors may be
held without notice at such time and at such place as shall be determined from
time to time by the Board of Directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5. Special
Meetings.</font>&#160;&#160;Special meetings of the Board of Directors may be
called by the Chairman of the Board, if there be one, or the President or any
two (2) Directors.&#160;&#160;The persons authorized to call special meetings of
the Board of Directors may fix the place for holding any special meetings of the
Board of Directors called by them.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6.
Notice.</font>&#160;&#160;Notice of the date, time and place of any special
meeting shall be given at least two (2) days prior thereto.&#160;&#160;Notice
may be communicated by any means permissible under applicable
law.&#160;&#160;Any Director may waive notice of such meeting, either before, at
or after such meeting.&#160;&#160;The attendance of a Director at a meeting
shall constitute a waiver of notice of such meeting, and a waiver of any and all
objections to the place of the meeting, the time of the meeting, or the manner
in which it has been called or convened, except where a director states, at the
beginning of the meeting or promptly upon arrival at the meeting, any objection
to the transaction of any business because the meeting is not lawfully called or
convened.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7. Quorum and
Adjournment</font>.&#160;&#160;A majority of the Directors shall constitute a
quorum, but a smaller number may adjourn, as specified in Section 8(c)
below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
8.&#160;&#160;Conduct of Meetings.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
Presiding Officer. The Chairman of the Board shall preside at meetings of the
Board of Directors. If the Chairman is an employee of the corporation, the Board
of Directors shall elect from among its members a Presiding Director, who shall
preside at executive sessions of the Board at which employees of the corporation
or any of its subsidiaries shall not be present. The Chairman, and in his or her
absence, the Presiding Director, and in his or her absence, any director chosen
by the directors present, shall call meetings of the Board of Directors to order
and shall act as presiding officer of the meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)
Minutes. The presiding officer shall appoint a person present to act as
secretary of the meeting. Minutes of any regular or special meeting of the Board
of Directors shall be prepared and distributed to each director.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
Adjournments. A majority of the directors present, whether or not a quorum
exists, may adjourn any meeting of the Board of Directors to another time and
place. Notice of any such adjourned meeting shall be given to the directors who
are not present at the time of the adjournment and, unless the time and place of
the adjourned meeting are announced at the time of the adjournment, to the other
directors.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)
Participation by Conference Call or Similar Means. The Board of Directors may
permit any or all directors to participate in a regular or a special meeting by,
or conduct the meeting through the use of, any means of communication by which
all directors participating may simultaneously hear each other during the
meeting. A director participating in a meeting by this means is deemed to be
present in person at the meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 9. Manner of
Acting.</font>&#160;&#160;The act of the majority of the Directors present at a
meeting at which a quorum is present when the vote is taken shall be the act of
the Board of Directors, except as otherwise provided by applicable
law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 10.
Vacancies.</font>&#160;&#160;Any vacancy occurring in the Board of Directors,
including any vacancy created by reason of an increase in the number of
directors, may be filled by the affirmative vote of a majority of the remaining
Directors though less than a quorum of the Board of Directors.&#160;A Director
elected to fill a vacancy shall be elected for the unexpired term of his
predecessor in office or, where a vacancy has been created by an increase in the
number of directors, until the next election of directors by the
shareholders.&#160;&#160;A vacancy that will occur at a specific later date (by
reason of a resignation effective at a later date, or otherwise) may be filled
before the vacancy occurs but the new director may not take office until the
vacancy occurs.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11.
Compensation.</font>&#160;&#160;The compensation of non-employee Directors for
their services as a Director may be fixed by resolution of the Board of
Directors, or by a duly authorized committee of the Board of
Directors.&#160;&#160;Unless otherwise determined by the Board of Directors or
such committee, Directors shall be paid their expenses of attendance at each
meeting of the Board of Directors or committee thereof.&#160;&#160;No payment
received by a Director for services as a Director shall preclude a Director from
serving the corporation in any other capacity.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 12. Presumption of
Assent.</font>&#160;&#160;A director of the corporation who is present at a
meeting of its Board of Directors or a committee of the Board of Directors at
which action on any corporate matter is taken is deemed to have assented to the
action taken, unless the director: (a) objects at the beginning of the meeting
(or promptly upon his or her arrival) to holding it or transacting specified
business at the meeting; or (b) votes against or abstains from the action
taken.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 13. Informal Action
by Board.</font>&#160;&#160;Any action required or permitted to be taken by any
provisions of law, of the Articles of Incorporation or of these Bylaws at any
meeting of the Board of Directors or of any committee thereof may be taken
without a meeting if, prior to such action, a written consent thereto is signed
by all members of the Board or of such committee, as the case may be, setting
forth the actions of the Board or of the committee.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 14.
Removal.</font>&#160;&#160;Any director may be removed, with or without cause,
by the shareholders at any general or special meeting of the shareholders
whenever, in the judgment of the shareholders, the best interests of the
corporation will be served thereby, but such removal shall be without prejudice
to the contract rights, if any, of the person removed.&#160;&#160;This Bylaw
shall not be subject to change by the Board of Directors.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
IV</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Officers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. Number and
Qualification.</font>&#160;&#160;The officers of the corporation shall
include&#160;&#160;a Chairman of the Board, a Chief Executive Officer, a
President, a Chief Operating Officer, a Chief Financial Officer and a Secretary,
each of whom shall be elected by the Board of Directors.&#160;&#160;The Board of
Directors may also elect one or more Executive Vice Presidents, Senior Vice
Presidents, Vice Presidents, one or more Assistant Secretaries and Assistant
Treasurers and such other officers as the Board of Directors shall deem
appropriate.&#160;&#160;The Board of Directors shall designate from among the
officers it elects those who shall be the executive officers of the corporation
responsible for all policy making functions, under the direction of the Board of
Directors.&#160;&#160;Two (2) or more offices may be held by the same
person.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Election and Term
of Office.</font>&#160;&#160;The officers of the corporation shall be elected
annually by the Board of Directors at its first meeting after each annual
meeting of the shareholders.&#160;&#160;If the election of officers shall not be
held at such meeting, such election shall be held as soon thereafter as may be
convenient.&#160;&#160;Each officer shall hold office until his successor shall
have been duly elected and shall have qualified, or until his death, or until he
shall resign or shall have been removed in the manner hereinafter
provided.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3.
Removal.</font>&#160;&#160;Any officer may be removed at any time, with or
without cause, by the Board of Directors.&#160;&#160;An officer's removal does
not affect the officer's contract rights, if any, with the
corporation.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4.
Vacancies.</font>&#160;&#160;A vacancy in any office because of death,
resignation, removal, disqualification or otherwise, may be filled by the Board
of Directors for the unexpired portion of the term.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5. Duties of
Officers.</font>&#160;&#160;The Chairman of the Board of the corporation shall
preside at all meetings of the Board of Directors and of the shareholders which
he shall attend, as provided in Articles II and III above.&#160;&#160;The
Chairman or the President shall be the chief executive officer of the
corporation, as specified by the Board of Directors.&#160;&#160;The Secretary,
or such other officer as the Board may from time to time designate, shall be
responsible for preparing minutes of the directors&#8217; and shareholders&#8217; meetings
and for authenticating records of the corporation. Subject to the foregoing, the
officers of the corporation shall have such powers and duties as usually pertain
to their respective offices and such additional powers and duties specifically
conferred by law, by the Articles of Incorporation, by these Bylaws, or as may
be assigned to them from time to time by the Board of Directors or by any
officer authorized by the board of directors to prescribe the duties of other
officers.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6. Executive
Compensation</font>.&#160;&#160;The salaries and other compensation of the
officers shall be fixed from time to time by the Board of Directors, and no
officer shall be prevented from receiving such salary or compensation by reason
of the fact that he is also a Director of the corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7. Delegation of
Duties.</font>&#160;&#160;In the absence of or disability of any officer of the
corporation or for any other reason deemed sufficient by the Board of Directors,
the Board may delegate his powers or duties to any other officer or to any other
Director for the time being.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 8. Limitation on
Executive Compensation</font>.&#160;&#160;The corporation shall not award
bonuses to officers, directors and/or other employees to avoid or satisfy margin
calls.&#160;&#160;Severance, separation and/or similar payments made to the
Chief Executive Officer, as well as all other officers at the Vice President
level or higher, shall be limited to the equivalent of such officer&#8217;s total
salary for the three calendar years immediately preceding the year in which such
payment is determined, including bonuses and guaranteed benefits.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
V</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Executive and Other
Committees</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. Creation of
Committees.</font>&#160;&#160;The Board of Directors may, by resolution passed
by a majority of the whole Board, designate an Executive Committee and one or
more other committees, each to consist of one (1) or more of the Directors of
the corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Executive
Committees.</font>&#160;&#160;The Executive committee, if there shall be one,
shall consult with and advise the officers of the corporation in the management
of its business and shall have and may exercise, to the extent provided in the
resolution of the Board of Directors creating such Executive Committee, such
powers of the Board of Directors as can be lawfully delegated by the
Board.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3. Other
Committees.</font>&#160;&#160;Such other committees shall have such functions
and may exercise the powers of the Board of Directors as can be lawfully
delegated and to the extent provided in the resolution or resolutions creating
such committee or committees.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4. Meetings of
Committees.</font>&#160;&#160;Regular meetings of the Executive Committee and
other committees may be held without notice at such time and at such place as
shall from time to time be determined by the Executive Committee or such other
committees.&#160;&#160;Special meetings of the Executive Committee or such other
committees may be called by any member thereof upon two (2) days&#8217; notice to each
of the other members of such committee, or on such shorter notice as may be
agreed to in writing by each of the other members of such
committee.&#160;&#160;Notice may be communicated by any means permissible under
applicable law, including oral notice where reasonable under the
circumstances.&#160;&#160;Notice may be waived as provided in Section 6 of
Article III of these Bylaws (pertaining to notice for Directors'
meetings).&#160;&#160;Attendance at a meeting will constitute waiver of notice
and of the right to any objections to the extent provided in Section 6 of
Article III.&#160;&#160;In all other respects, committee meetings shall be
conducted in the same manner and in accordance with the same procedural rules
applicable to the Board of Directors; provided that, the Board of Directors may
adopt a charter for any committee specifying rules for the conduct of meetings
and business of the committee and such other matters as the Board may designate,
in which case the provisions of such charter shall supersede the provisions of
this Section 4.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5. Vacancies on
Committees.</font>&#160;&#160;Vacancies on the Executive Committee or on such
other committees may be filled by the Board of Directors then in office at any
regular or special meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6. Quorum of
Committees.</font>&#160;&#160;At all meetings of the Executive Committee or such
other committees, a majority of the committee's members then in office shall
constitute a quorum for the transaction of business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7. Manner of Acting
of Committee.</font>&#160;&#160;The acts of a majority of the members of the
Executive Committee, or such other committees, present at any meeting at which
there is a quorum, shall be the act of such committee.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 8. Minutes of
Committees.</font>&#160;&#160;The Executive Committee, if there shall be one,
and such other committees shall keep regular minutes of their proceedings and
report the same to the Board of Directors when required.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 9.
Compensation.</font>&#160;&#160;Members of the Executive Committee and such
other committees may be paid compensation in accordance with the provisions of
Section 11 of Article III (pertaining to compensation of
Directors).</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
VI</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Indemnification of Director
and Officers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1.
General</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a) Subject to the principles set forth
in Section 1(b) below, the corporation shall be obligated to indemnify any
director or officer of the corporation who is or was a party, or is threatened
to be made a party, to any Proceeding (other than an action by or in the right
of the corporation) by reason of the fact that such person is or was a director
or officer of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise; provided that in no event
shall the corporation be obligated to indemnify any director or officer for any
liability resulting from, or advance expenses in connection with, any Proceeding
involving liability under Section 16(b) of the Securities Exchange Act of
1934.&#160;&#160;A &#8220;Proceeding&#8221; includes any threatened, pending or completed
action, suit or other type of proceeding, whether civil, criminal,
administrative, investigative or otherwise, and whether formal or
informal.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 22.3pt"></font>&#160;(b) Any person for whom
indemnification is mandated under Section 1(a) above shall be indemnified
against all liabilities, including obligations to pay a judgment, settlement,
penalty, fine (including an excise tax assessed with respect to any employee
benefit plan), and expenses (including attorneys&#8217; fees, paralegals&#8217; fees and
court costs) actually and reasonably incurred in connection with any such
Proceeding, including any appeal thereof; provided that, except as provided in
Section 8 below with respect to proceedings to enforce rights to indemnification
or advancement of expenses, the corporation shall indemnify any such indemnitee
in connection with a Proceeding (or part thereof)<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>initiated by such
indemnitee only if such Proceeding (or part thereof) was authorized by the Board
of Directors of the corporation, except that no such authorization shall be
required in the case of counterclaims which constitute claims of the indemnitee
that would be forfeited unless asserted in the Proceeding. Indemnification shall
be available only if the person to be indemnified acted in good faith and in a
manner such person reasonably believed to be in, or not opposed to, the best
interests of the corporation and, with respect to any criminal action or
proceeding, had no reasonable cause to believe such person&#8217;s conduct was
unlawful. The termination of any such action, suit or other proceeding by
judgment, order, settlement or conviction, or upon a plea of nolo contendere or
its equivalent, shall not, of itself, create a presumption that the person did
not act in good faith and in a manner that such person reasonably believed to be
in, or not opposed to, the best interests of the corporation or, with respect to
any criminal action or proceeding, had reasonable cause to believe that such
person&#8217;s conduct was unlawful.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Actions By Or In
The Right Of The Corporation</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>&#160;(a) Subject to the principles set
forth in paragraphs (b) and (c) of Section 2 below, the corporation shall be
obligated to indemnify any director or officer of the corporation who is or was
a party, or is threatened to be made a party, to any Proceeding brought by or in
the right of the corporation to procure a judgment in its favor by reason of the
fact that such person is or was a director or officer of the corporation or is
or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise; provided that in no event shall the corporation be obligated
to indemnify any director or officer for any liability resulting from, or
advance expenses in connection with, any Proceeding involving liability under
Section 16(b) of the Securities Exchange Act of 1934.</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(b)
Any person for whom indemnification is mandated under Section 2(a) above shall
be indemnified against expenses (including attorneys&#8217; fees, paralegals&#8217; fees and
court costs) and amounts paid in settlement not exceeding, in the judgment of
the Board of Directors, the estimated expense of litigating the Proceeding to
conclusion, that are actually and reasonably incurred in connection with the
defense or settlement of such Proceeding, including any appeal thereof; provided
that, except as provided in Section 8 below with respect to proceedings to
enforce rights to indemnification or advancement of expenses, the corporation
shall indemnify any such indemnitee in connection with a Proceeding (or part
thereof) initiated by such indemnitee only if such Proceeding (or part thereof)
was authorized by the Board of Directors of the corporation, except that no such
authorization shall be required in the case of counterclaims which constitute
claims of the indemnitee that would be forfeited unless asserted in the
Proceeding.&#160;&#160;Indemnification shall be available only if the person to
be indemnified acted in good faith and in a manner such person reasonably
believed to be in, or not opposed to, the best interests of the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 21.6pt"></font>(c) Notwithstanding the foregoing, no
indemnification shall be made under this Section 2 in respect of any claim,
issue or matter as to which such person shall have been adjudged to be liable
unless, and only to the extent that, the court in which such Proceeding was
brought, or any other court of competent jurisdiction, shall determine upon
application that, despite the adjudication of liability but in view of all the
circumstances of the case, such person is fairly and reasonably entitled to
indemnification for such expenses as such court shall deem proper.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3. Advancement Of
Expenses</font>. Expenses (including reasonable attorneys&#8217; fees, paralegals&#8217;
fees and court costs) incurred by a director or officer in defending a
Proceeding referred to in Section 1 or Section 2 of this Article VI shall be
paid by the corporation in advance of the final disposition thereof upon receipt
by the corporation of:</font></div>
    <div>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">a
      representation by or on behalf of such director or officer that all
      actions taken by him or her which form the basis of the Proceeding met the
      applicable standard of conduct set forth in Section 1 or 2 above, as
      applicable; and</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;an
      undertaking by or on behalf of such director or officer to repay such
      amount if he or she is ultimately found not to be entitled to
      indemnification by the corporation pursuant to this Article
      VI.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4. Authorization And
Procedural Matters</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a) Indemnification pursuant to this
Article VI shall be deemed &#8220;authorized&#8221; for purposes of Section 607.0850(8),
Florida Statutes, and any successor thereto, upon adoption of this Bylaw,
subject to a determination that indemnification is proper as provided in Section
4(b).</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(b) Except as otherwise provided by
order of a court of competent jurisdiction, the corporation shall not be
obligated to indemnify any officer or director under Section 1 or 2 of this
Article VI until a determination has been made that: (a) indemnification is
proper in the circumstances because the indemnified person has met the
applicable standard of conduct set forth in Section 1 or Section 2 of this
Article VI; and (b) indemnification is not prohibited by applicable
law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(c)&#160;&#160;The Board of Directors
may establish reasonable procedures for the submission of claims for
indemnification and advancement of expenses pursuant to this Article VI,
determination of the entitlement of any person thereto, and review of any such
determination.&#160;&#160;This Article VI is adopted pursuant to the authority
granted by Section 607.0850(7), Florida Statutes, and accordingly, it is
intended that the authorization and determination procedures set forth in
Section 607.0850(4) and (5) shall not be mandatory to the Board.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5. Nonexclusivity
And Limitations</font>. The indemnification and advancement of expenses provided
pursuant to this Article VI shall not be deemed exclusive of any other rights to
which a person may be entitled under any law, the corporation&#8217;s Articles of
Incorporation, Bylaw, agreement, vote of shareholders or disinterested
directors, or otherwise, both as to action in such person&#8217;s official capacity
and as to action in any other capacity while holding office with the
corporation. The Board of Directors may, at any time, approve indemnification of
or advancement of expenses to any other person that the corporation has the
power by law to indemnify, including, without limitation, employees and agents
of the corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 6. Continuation Of
Indemnification Right</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(a) Indemnification and advancement of
expenses as provided for in this Article VI shall continue as to a person who
has ceased to be a director or officer and shall inure to the benefit of the
heirs, executors, and administrators of such person.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(b) For purposes of this Article VI,
the term &#8220;corporation&#8221; includes, in addition to the resulting corporation, any
constituent corporation (including any constituent of a constituent) absorbed in
a consolidation or merger, so that any person who is or was a director or
officer of a constituent corporation, or is or was serving at the request of a
constituent corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise, is in the
same position under this Article VI with respect to the resulting or surviving
corporation as such person would have been with respect to such constituent
corporation if its separate existence had continued.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 7. Insurance</font>.
The corporation may purchase and maintain insurance on behalf of any person who
is or was a director, officer, employee or agent of the corporation, or who is
or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise against any liability asserted against such person and incurred
by such person in any such capacity or arising out of such person&#8217;s status as
such, whether or not the corporation would have the power to, or be obligated
to, indemnify such person against the liability under Section 1 or Section 2 of
this Article VI or under applicable law.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 8.&#160;&#160;Right
Of Indemnitee To Bring Suit</font>.&#160;&#160;If a claim under this Article VI
is not paid in full by the corporation within 60 days after a written claim has
been received by the corporation, except in the case of a claim for an
advancement of expenses, in which case the applicable period shall be 20 days,
the indemnitee may at any time thereafter bring suit against the corporation to
recover the unpaid amount of the claim.&#160;&#160;If successful in whole or in
part in any such suit, or in a suit brought by the corporation to recover an
advancement of expenses pursuant to the terms of an undertaking, the indemnitee
shall be entitled to be paid also the expense of prosecuting or defending such
suit.&#160;&#160;In any suit brought by the indemnitee to enforce a right to
indemnification&#160;&#160;or advancement of expenses hereunder it shall be a
defense that the indemnitee has not met any applicable standard set forth in
this Article VI or that indemnification or advancement of expenses is
impermissible under applicable law.&#160;&#160;In any suit brought by the
corporation to recover an advancement of expenses pursuant to the terms of an
undertaking, the corporation shall be entitled to recover such expenses upon a
final adjudication that the indemnitee has not met any applicable standard for
indemnification set forth in this Article VI or that indemnification is
impermissible under applicable law.&#160;&#160;Neither the failure of the
corporation (including its directors who are not parties to such action, a
committee of such directors, independent legal counsel, or its shareholders) to
have made a determination prior to the commencement of such suit that
indemnification of the indemnitee is proper in the circumstances because the
indemnitee has met the applicable standard of conduct set forth in this Article
VI, nor an actual determination by the corporation (including its directors who
are not parties to such action, a committee of such directors, independent legal
counsel, or its shareholders) that the indemnitee has not met such applicable
standard of conduct, shall create a presumption that the indemnitee has not met
the applicable standard of conduct or, in the case of such a suit brought by the
indemnitee, be a defense to such suit.&#160;&#160;In any suit brought by the
indemnitee to enforce a right to indemnification or to an advancement of
expenses hereunder, or brought by the corporation to recover an advancement of
expenses pursuant to the terms of an undertaking, the burden of proving that the
indemnitee is not entitled to be indemnified, or to such advancement of
expenses, under this Article VI or otherwise shall be on the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 9.&#160;&#160;Nature
Of Rights</font>.&#160;&#160;The rights to indemnification and to the
advancement of expenses conferred upon indemnitees in this Article VI (i) shall
be contract rights based upon good and valuable consideration, pursuant to which
an indemnitee may bring suit as if the provisions of this Article VI were set
forth in a separate written contract between the indemnitee and the corporation,
(ii) are intended to be retroactive with respect to indemnitees who are
currently serving as officers and directors on the date this Bylaw is first
adopted, and with respect to such persons, these rights shall be available with
respect to events occurring prior to the adoption of this Article VI, (iii)
shall continue as to an indemnitee who has ceased to be a director or officer of
the corporation, and shall inure to the benefit of the indemnitee&#8217;s heirs,
executors and administrators, and (iv) shall be deemed to have fully vested at
the time the indemnitee first assumed his or her office with the
corporation.&#160;&#160;No amendment, alteration or repeal of this Article VI
shall adversely affect any right of an indemnitee or his or her successors, nor
shall any such amendment limit or eliminate any such right with respect to any
Proceeding involving an occurrence or alleged occurrence of any action or
omission to act that took place prior to such amendment, alteration or repeal,
regardless of whether such Proceeding is brought before or after the indemnitee
has ceased to be a director or officer of the corporation.</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
10.&#160;&#160;Severability</font>.&#160;&#160;If any provision or provisions of
this Article VI shall be held to be invalid, illegal or unenforceable for any
reason whatsoever: (i) the validity, legality and enforceability of the
remaining provisions of this Article VI shall not in any way be affected or
impaired thereby; and (ii) to the fullest extent permitted by law, the
provisions of this Article VI (including, without limitation, each such portion
of this Article VI containing any such provisions held to be invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held invalid, illegal or unenforceable.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 11. Settlement Of
Claims</font>.&#160;&#160;The corporation shall not be liable to indemnify any
indemnitee under this Article VI for any amounts paid in settlement of any
proceeding (or part thereof) effected without the corporation&#8217;s written consent,
which consent shall not be unreasonably withheld, or for any judicial award if
the corporation was not given a reasonable and timely opportunity, at its
expense, to participate in the defense of such proceeding.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 12.
Subrogation</font>.&#160;&#160;In the event of payment under this Article VI,
the corporation shall be subrogated to the extent of such payment to all of the
rights of recovery of the indemnitee, who shall execute all papers required and
shall do everything that may be reasonably necessary to secure such rights,
including without limitation the execution of such documents necessary to enable
the corporation effectively to bring suit to enforce such rights.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 13. Secondary
Obligation</font>.&#160;&#160;The corporation&#8217;s indemnification of any person
who was or is serving at its request with another corporation, partnership,
joint venture, trust or other entity (including serving as a trustee or
fiduciary of any employee benefit plan), shall be reduced by any amounts such
person may collect as indemnification from such other party.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 14. No Duplication
Of Payments</font>.&#160;&#160;The corporation shall not be liable under this
Bylaw to make any payment with respect to the liability of a person to the
extent such person has otherwise actually received payment.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
VII</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Stock</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. Certificates for
Shares; Uncertificated Shares.</font>&#160;&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)
Shares may but need not be represented by certificates.&#160;&#160;The Board of
Directors may authorize the creation of uncertificated shares either by original
issue or in substitution for shares previously represented by certificates, and
a particular class and series of shares may be entirely represented by
certificates, entirely uncertificated, or represented partly by each. The rights
and obligations of shareholders shall be identical whether or not their shares
are represented by certificates.&#160;&#160;No shares for which a certificate is
outstanding shall be treated as uncertificated, and until such certificate is
surrendered, such shares shall not be transferable on the books of the
corporation without due presentation of the certificate.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b) If
shares are represented by certificates, each certificate shall be in such form
as the Board of Directors may from time to time prescribe, signed (either
manually or in facsimile) by the President or a Vice President.&#160;&#160;Such
certificates may also be signed (either manually or in facsimile) by the
Secretary or an Assistant Secretary and sealed with the seal of the corporation
or its facsimile.&#160;&#160;Any certificate must exhibit the holder&#8217;s name,
certify the number of shares owned and state such other matters as may be
required by law. The certificates shall be numbered and entered on the books of
the corporation as they are issued.&#160;&#160;Authorization by the Board of the
issuance of uncertificated shares will not affect shares already represented by
a certificate until the certificate is surrendered to the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) If
shares are not represented by certificates, then, within a reasonable time after
issue or transfer of shares without certificates, the corporation shall send the
shareholder a written statement in such form as the Board of Directors may from
time to time prescribe, certifying as to the number of shares owned by the
stockholder and as to such other information as would have been required by
applicable law to be on certificates for such shares.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d) If
any person who signed (either manually or in facsimile) a share certificate no
longer holds office when the certificate is issued, the certificate shall
nevertheless be valid.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Transfer of
Shares.</font>&#160;&#160;Transfers of shares of the corporation shall be made
upon its books by the holder of the shares in person or by his lawfully
constituted representative, upon surrender of the certificate of stock for
cancellation if such shares are represented by a certificate, or by delivery to
the corporation of such evidence of transfer as may be required by the
corporation if such shares are not represented by certificates.&#160;&#160;The
person in whose name shares stand on the books of the corporation shall be
deemed by the corporation to be the owner thereof for all purposes and the
corporation shall not be bound to recognize any equitable or other claim to or
interest in such share on the part of any other person whether or not it shall
have express or other notice thereof, save as expressly provided by the laws of
the State of Florida.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3. Lost
Certificate.</font>&#160;&#160;The Board of Directors may direct a new
certificate or certificates to be issued in place of any certificate or
certificates theretofore issued by the corporation alleged to have been lost or
destroyed, upon the making of an affidavit of that fact by the person claiming
their certificate of stock to be lost or destroyed.&#160;&#160;When authorizing
such issue of new certificate or certificates, the Board of Directors may, in
its discretion and as a condition precedent to the issuance thereof, require the
owner of such lost or destroyed certificate or certificates, or his legal
representative, to advertise the same in such manner as it shall require and/or
to give the corporation a bond in such sum as it may direct as indemnity against
any claim that may be made against the corporation with respect to the
certificate alleged to have been lost or destroyed.&#160;&#160;However, in its
sole discretion, the Board of Directors may choose not to direct the creation of
a new certificate, but instead direct that upon receipt of such affidavit, bond
and other acts as it may require as set forth above, the shares represented by
the lost or destroyed certificate shall thenceforth be deemed uncertificated
shares.&#160;&#160;Within a reasonable time thereafter, the corporation will
send the shareholder a written statement as required by applicable law and
described in Section 1(c) above.</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
VIII</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Record
Date</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1. In
General.</font> The Board of Directors may fix in advance a date as the record
date for the purpose of determining shareholders entitled to notice of a
shareholders&#8217; meeting, entitled to vote, or take any other action. In no event
may a record date fixed by the Board of Directors be a date preceding the date
upon which the resolution fixing the record date is adopted or a date more than
seventy (70) days before the date of meeting or action requiring a determination
of shareholders.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
2.&#160;&#160;Special Meeting.</font> The record date for determining
shareholders entitled to demand a special meeting shall be the close of business
on the date the first shareholder delivers his or her demand to the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
3.&#160;&#160;Absence of Board Determination for Shareholders&#8217; Meeting.</font>
If the Board of Directors does not determine the record date for determining
shareholders entitled to notice of and to vote at an annual or special
shareholders&#8217; meeting, such record date shall be the close of business on the
day before the first notice with respect thereto is delivered to shareholders in
accordance with Section 4 of Article II.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section
4.&#160;&#160;Adjourned Meeting.</font> A record date for determining
shareholders entitled to notice of or to vote at a shareholders&#8217; meeting is
effective for any adjournment of the meeting unless the Board of Directors fixes
a new record date, which it must do if the meeting is adjourned to a date more
than 120 days after the date fixed for the original meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
IX</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Dividends</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Board
of Directors may from time to time declare, and the corporation may pay,
dividends on its outstanding shares of capital stock in the manner and upon the
terms and conditions provided by the Articles of Incorporation and by
law.&#160;&#160;Dividends may be paid in cash or property, including shares of
stock or other securities of the corporation, subject to the provisions of the
Articles of Incorporation and&#160;&#160;applicable law.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
X</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Fiscal
Year</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
fiscal year of the corporation shall be the twelve (12) month period selected by
the Board of Directors as the taxable year of the corporation for federal income
tax purposes, unless the Board of Directors establishes a different fiscal
year.</font></div>
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    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
XI</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Seal</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
corporate seal shall bear the name of the corporation, which shall be between
two concentric circles, and in the inside of the inner circle shall be the
calendar year of incorporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
XII</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Stock in Other
Corporations</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Unless
otherwise directed by the Board of Directors, the Chief Executive Officer shall
have power to vote and otherwise act on behalf of the corporation, in person or
by proxy, at any meeting of shareholders of, or with respect to any action of
shareholders of, any other corporation in which this corporation may hold
securities and to otherwise exercise any and all rights and powers that the
corporation may possess by reason of its ownership of securities in other
corporations.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
XIII</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Amendments</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">These
Bylaws may be altered, amended or repealed and new Bylaws may be adopted by the
Board of Directors or the shareholders, provided that the Board of Directors may
not amend or repeal any Bylaw or&#160;&#160;Bylaws if: (a) the Articles of
Incorporation or applicable law reserves the power to amend the Bylaws generally
or the particular Bylaw or Bylaws in question exclusively to the shareholders;
(b) the shareholders, in taking action with respect to the Bylaws generally or a
particular Bylaw provision, provide expressly that the board of Directors may
not amend or repeal the Bylaws or that Bylaw provision; or&#160;&#160;(c) the
Bylaw or Bylaws in question have been altered, amended or adopted by a vote of
the shareholders, until a period of two (2) years shall have expired since such
vote of the shareholders.&#160;&#160;Any Bylaw or amendment to a Bylaw adopted
by the Board of Directors may be altered, amended or repealed by vote of the
shareholders entitled to vote thereon, or a new Bylaw in lieu thereof may be
adopted by the shareholders.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
XIV</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Advance Notice of
Shareholder Nominations and Proposals</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 1 Nominations and
Proposal Requirements.</font>&#160;&#160;Nominations of persons for election to
the Board of Directors and proposals of business to be transacted by the
shareholders may be made at an annual meeting of shareholders (a) pursuant to
the corporation&#8217;s notice with respect to such meeting, (b) by or at the
direction of the Board of Directors, or (c) by any shareholder of record of the
corporation who (1) was a shareholder of record at the time of the giving of the
notice provided for in the following paragraph, (2) is entitled to vote at the
meeting and (3) has complied with the notice procedures set forth in this
Article.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      </div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
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      </div>
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
nominations or other business to be properly brought before an annual meeting by
a shareholder pursuant to clause (c) of the foregoing paragraph, (1) the
shareholder must have given timely notice thereof in writing to the Secretary of
the corporation, (2) such business must be a proper matter for shareholder
action under the Florida Business Corporation Code, (3) if the shareholder, or
the beneficial owner on whose behalf any such proposal or nomination is made,
has provided the corporation with a Solicitation Notice, as that term is defined
in this paragraph, such shareholder or beneficial owner must, (i) in the case of
a proposal, have delivered a proxy statement and form of proxy to holders of at
least the percentage of the corporation&#8217;s voting shares required under
applicable law to carry any such proposal, or, (ii) in the case of a nomination
or nominations, have delivered a proxy statement and form of proxy to holders of
a percentage of the corporation&#8217;s voting shares reasonably believed by such
shareholder or beneficial holder to be sufficient to elect the nominee or
nominees proposed to be nominated by such shareholder, and must, in either case,
have included in the materials accompanying such notice to the corporation, the
Solicitation Notice and any proxy statement and form of proxy utilized or to be
utilized by such person, and (4) if no Solicitation Notice relating thereto has
been timely provided pursuant to this Article, the shareholder or beneficial
owner proposing such business or nomination must not have solicited, and must
represent that he, she or it will not solicit, a number of proxies sufficient to
have required the delivery of such a Solicitation Notice under this
Article.&#160;&#160;To be timely, a shareholder&#8217;s notice and the required
accompanying materials shall be delivered to the Secretary at the principal
offices of the corporation not less than ninety (90) nor more than one hundred
eighty (180) days prior to the first anniversary (the &#8220;Anniversary&#8221;) of the date
on which the corporation first mailed its proxy materials for the preceding
year&#8217;s annual meeting of shareholders; provided, however, that if the date of
the annual meeting is advanced more than thirty (30) days prior to or delayed by
more than thirty (30) days after the anniversary of the preceding year&#8217;s annual
meeting, notice by the shareholder to be timely must be so delivered not later
than the close of business on the later of (i) the 90th day prior to such annual
meeting or (ii) the 10th day following the day on which public announcement of
the date of such meeting is first made.&#160;&#160;Such shareholder&#8217;s notice
shall set forth (a) as to each person whom the shareholder proposes to nominate
for election or reelection as a director all information relating to such person
as would be required to be disclosed in solicitations of proxies for the
election of such nominees as directors pursuant to Regulation 14A under the
Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and shall
contain such person&#8217;s written consent to serve as a director if elected; (b) as
to any other business that the shareholder proposes to bring before the meeting,
a brief description of such business, the reasons for conducting such business
at the meeting and any material interest in such business of such shareholder
and the beneficial owner, if any, on whose behalf the proposal is made; (c) as
to the shareholder giving the notice and the beneficial owner, if any, on whose
behalf the nominations or proposal is made (i) the name and address of such
shareholder, and of such beneficial owner, as they appear on the corporation&#8217;s
books, (ii) the class and number of shares of the corporation that are owned
beneficially and of record by such shareholder and such beneficial owner, and
(iii) whether such shareholder or beneficial owner has delivered or intends to
deliver a proxy statement and form of proxy to holders of, in the case of a
proposal, at least the percentage of the corporation&#8217;s voting shares required
under applicable law to carry the proposal or, in the case of a nomination or
nominations, a sufficient number of holders of the corporation&#8217;s voting shares
to elect such nominee or nominees (the notice described in this sentence, a
&#8220;Solicitation Notice&#8221;).</font></div>
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        </div>
      </div>
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 2. Increase in
Number of Directors.</font>&#160;&#160;Notwithstanding anything in the second
sentence of the second paragraph of Section 1 of this Article XIV to the
contrary, in the event that the number of directors to be elected to the Board
is increased and there is no public announcement naming all of the nominees for
director or specifying the size of the increased Board made by the corporation
at least fifty-five (55) days prior to the Anniversary, a shareholder&#8217;s notice
required by this Article shall also be considered timely, but only with respect
to nominees for any new positions created by such increase, if it shall be
delivered to the Secretary at the principal offices of the corporation not later
than the close of business on the 10<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> day
following the day on which such public announcement is first made by the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 3. Compliance with
Procedures.</font>&#160;&#160;Only persons nominated in accordance with the
procedures set forth in this Article XIV shall be eligible to serve as directors
and only such business shall be conducted at an annual meeting of shareholders
as shall have been brought before the meeting in accordance with the procedures
set forth in this Article.&#160;&#160;The chairman of the meeting shall have the
power and the duty to determine whether a nomination or any business proposed to
be brought before the meeting has been made in accordance with the procedures
set forth in these Bylaws and, if any proposed nomination or business is not in
compliance with these Bylaws, to declare that such defective proposed business
or nomination shall not be presented for shareholder action at the meeting and
shall be disregarded.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 4. Nominations at
Special Meetings.</font>&#160;&#160;Nominations of persons for election to the
Board of Directors may be made at a special meeting of shareholders at which
directors are to be elected pursuant to the corporation&#8217;s notice of meeting (a)
by or at the direction of the Board or (b) by any shareholder of record of the
corporation who is a shareholder of record at the time of giving of notice
provided for in this paragraph, who shall be entitled to vote at the meeting and
who complies with the notice procedures set forth in this Article
XIV.&#160;&#160;Nominations by shareholders of persons for election to the Board
may be made at such a special meeting of shareholders if the shareholder&#8217;s
notice required by the second paragraph of this Article XIV shall be delivered
to the Secretary at the principal offices of the corporation not later than the
close of business on the later of 90<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> day
prior to such special meeting or the 10<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font> day
following the day on which public announcement is first made of the date of the
special meeting and of the nominees proposed by the Board to be elected at such
meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Section 5.
General.</font>&#160;&#160;For purposes of this Article, &#8220;public announcement&#8221;
shall mean disclosure in a press release reported by the Dow Jones News Service,
Associated Press or a comparable national news service or in a document publicly
filed by the corporation with the Securities and Exchange Commission pursuant to
Section 13, 14 or 15(d) of the Exchange Act.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
the foregoing provisions of this Article XIV, a shareholder must also comply
with all applicable requirements of the Exchange Act and the rules and
regulations thereunder with respect to matters set forth in this Article
XIV.&#160;&#160;Nothing in this Article XIV shall be deemed to affect any rights
of shareholders to request inclusion of proposals in the corporation&#8217;s proxy
statement pursuant to Rule 14a-8 under the Exchange Act.</font></div>
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      </div>
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ARTICLE
XV</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Control
Share Acquisition</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
accordance with Section 607.0902(5) of the Florida Business Corporation Act,
section 607.0902 of the Florida Business Corporation Act shall not apply to
control-share acquisitions of shares of the capital stock of the
corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Article
XVI</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Emergency
Bylaws</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Section&#160;1.<font style="DISPLAY: inline; TEXT-DECORATION: underline"> SCOPE OF EMERGENCY
BYLAWS</font>. The emergency Bylaws provided in this Article XVI shall be
operative during any emergency, notwithstanding any different provision set
forth in the preceding articles of these Bylaws or in the Company&#8217;s Articles of
Incorporation. For purposes of the emergency By-law provisions of this Article,
an emergency shall exist if a quorum of the corporation&#8217;s directors cannot
readily be assembled because of some catastrophic event. To the extent not
inconsistent with the provisions of this Article, the provisions contained
elsewhere in these Bylaws shall remain in effect during such
emergency.&#160;&#160;Upon termination of the emergency, these emergency Bylaws
shall cease to be operative.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;2.<font style="DISPLAY: inline; TEXT-DECORATION: underline"> CALL AND NOTICE OF
MEETING</font>. During any emergency, a meeting of the Board of Directors may be
called by any officer or director of the corporation. Notice of the date, time
and place of the meeting shall be given by the person calling the meeting to
such of the directors as it may be feasible to reach by any available means of
communication. Such notice shall be given as far in advance of the meeting as
circumstances permit in the judgment of the person calling the
meeting.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;3.<font style="DISPLAY: inline; TEXT-DECORATION: underline"> QUORUM AND VOTING</font>.
At any such meeting of the Board of Directors, a quorum shall consist of any one
or more directors, and the act of the majority of the directors present at such
meeting shall be the act of the corporation.&#160;&#160;For purpose of this
Section, the term &#8220;director&#8221; shall include any Temporary Director as defined in
Section 4, including the President or his successor as specified in Section
4(b).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Section&#160;4.<font style="DISPLAY: inline; TEXT-DECORATION: underline"> APPOINTMENT OF TEMPORARY
DIRECTORS</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the course of an emergency, &#8220;Temporary Directors&#8221; may be appointed as
follows:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      no directors are available to call or attend a meeting of directors during
      an emergency, the President or his successor shall be deemed a Temporary
      Director of the corporation, and such President or his successor, as the
      case may be, shall have the right to appoint additional Temporary
      Directors to serve with him on the Board of Directors of the corporation
      during the term of the emergency.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
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      director or directors who are able to be assembled at a meeting of
      directors during an emergency may appoint, if such directors deem it
      necessary or desirable, one or more Temporary Directors to serve as
      directors of the corporation during the term of any
    emergency.</font></div>
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      Directors shall have all of the rights, duties and obligations of
      directors appointed pursuant to Article III of these Bylaws; <font style="DISPLAY: inline; FONT-STYLE: italic">provided, however</font>, that
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      Director, or by vote of the majority of the shareholders present at any
      meeting of the shareholders during an emergency; and <font style="DISPLAY: inline; FONT-STYLE: italic">provided further</font>, that
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      in connection with which the Temporary Director was
    appointed.</font></div>
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OFFICE</font>. The Board of Directors may, either before or during any such
emergency, and effective during such emergency, change the principal office of
the corporation or designate several alternative head offices or regional
offices, or authorize the officers of the corporation to do so.</font></div>
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LIABILITY</font>. No officer, director or employee acting in accordance with
these emergency bylaws during an emergency shall be liable except for willful
misconduct.</font></div>
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These emergency bylaws shall be subject to repeal or change by further action of
the Board of Directors or by action of the shareholders, but no such repeal or
change shall modify the provisions of Section&#160;7 above with regard to
actions taken prior to the time of such repeal or change. Any amendment of these
emergency bylaws may make any further or different provision that may be
practical or necessary under the circumstances of the emergency.</font></div>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>cryolife8k102208ex10.htm
<DESCRIPTION>CHANGE OF CONTROL AGMT
<TEXT>
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  <head>
    <title>cryolife8k102208ex10.htm</title>
<!-- Licensed to: aggedgar-->
<!-- Document Created using EDGARizer 4.0.6.3 -->
<!-- Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved -->
</head>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: right" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">Exhibit
10.1</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CHANGE
OF CONTROL AGREEMENT</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>This CHANGE OF CONTROL AGREEMENT (this
&#8220;Agreement&#8221;) dated as of the 24th day of October, 2008 is by and between
CRYOLIFE, INC., a Florida corporation (&#8220;CryoLife&#8221; or the &#8220;Company&#8221;) and D.
Ashley Lee (the &#8220;Officer&#8221;).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">W</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">I</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">T</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">N</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">E</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">S</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">S</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">E</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">T</font> <font style="DISPLAY: inline; TEXT-DECORATION: underline">H</font>:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, the Board of Directors of the
Company upon the recommendation of the Compensation Committee, has determined
that it is in the best interests of the Company and its shareholders to enter
into this Change of Control Agreement in order to assure that the Company will
have the continued dedication of Officer, notwithstanding the possibility,
threat or occurrence of a Change of Control (as defined herein) of the Company;
and</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>WHEREAS, Officer has determined that it
is in the best interests of Officer to enter into this Agreement;</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>NOW, THEREFORE, in consideration of the
premises, the promises hereinafter set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by
both parties, it is hereby agreed as follows:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1<font style="DISPLAY: inline; FONT-WEIGHT: bold">.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">CERTAIN
DEFINITIONS</font>.</font></div>
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    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective Date</font>&#8221; means
the first date during the Change of Control Period (as defined herein) on which
a Change of Control occurs.&#160;&#160;Notwithstanding anything in this
Agreement to the contrary, if the Officer&#8217;s employment with the Company is
terminated by the Company without Cause or by Officer for Good Reason (as such
terms are defined herein) within the six (6) month period prior to the date on
which the Change of Control occurs and if such Change of Control is consummated
(such a termination of employment, an &#8220;Anticipatory Termination&#8221;), then for all
purposes of this Agreement the &#8220;Effective Date&#8221; means the date immediately prior
to the date of such termination of employment.</font></div>
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    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change of Control
Period</font>&#8221; means the period commencing on the date hereof and ending on
September 1, 2011; <font style="DISPLAY: inline; FONT-STYLE: italic">provided,
however</font>, that, commencing on September 1, 2011, and each three-year
anniversary of such date (such date and each such three-year anniversary
thereof, the &#8220;Renewal Date&#8221;) unless previously terminated, the Change of Control
Period shall be automatically extended so as to terminate three (3) years from
such Renewal Date, unless, at least thirty (30) days prior to the next Renewal
Date, the Company shall give notice to the Officer that the Change of Control
Period shall not be so extended.</font></div>
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    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Affiliated Company</font>&#8221;
means any company controlled by, controlling or under common control with the
Company.</font></div>
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    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change of Control</font>&#8221;
means a change in the ownership or effective control of, or in the ownership of
a substantial portion of the assets of, the Company, as described in paragraphs
(i) through (iii) below.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change in Ownership of the
Company</font>.&#160;&#160;A change in the ownership of the Company shall occur
on the date that any one person, or more than one person acting as a group
(within the meaning of paragraph (iv)), other than a group of which Officer is a
member, acquires ownership of the Company stock that, together with the Company
stock held by such person or group, constitutes more than 50% of the total
voting power of the stock of the Company.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
any one person or more than one person acting as a group (within the meaning of
paragraph (iv)), other than a group of which Officer is a member,&#160;&#160;is
considered to own more than 50% of the total voting power of the stock of the
Company, the acquisition of additional the Company stock by such person or
persons shall not be considered to cause a change in the ownership of the
Company or to cause a change in the effective control of the Company (within the
meaning of paragraph (ii) below).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;An
increase in the percentage of the Company stock owned by any one person, or
persons acting as a group (within the meaning of paragraph (iv)), as a result of
a transaction in which the Company acquires its stock in exchange for property,
shall be treated as an acquisition of stock for purposes of this paragraph
(i).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except
as provided in (B) above, the provisions of this paragraph (i) shall apply only
to the transfer or issuance of the Company stock if such stock remains
outstanding after such transfer or issuance.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change in Effective Control
of the Company</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
change in the effective control of the Company shall occur on the date that
either of (1) or (2) below occurs:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Any
one person, or more than one person acting as a group (within the meaning of
paragraph (iv)), other than a group of which Officer is a member, acquires (or
has acquired during the 12 month period ending on the date of the most recent
acquisition by such person or persons) ownership of stock of the Company
possessing 30% or more of the total voting power of the stock of the Company;
or</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
majority of the members of the the Company Board of Directors are replaced
during any 12 month period by Directors whose appointment or election is not
endorsed by a majority of the Board of Directors prior to the date of the
appointment or election.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
change in effective control of the Company also may occur with respect to any
transaction in which either of the Company or the other entity involved in a
transaction experiences a Change of Control event described in paragraphs (i) or
(iii).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If
any one person, or more than one person acting as a group (within the meaning of
paragraph (iv)), is considered to effectively control the Company (within the
meaning of this paragraph (ii)), the acquisition of additional control of the
Company by the same person or persons shall not be considered to cause a change
in the effective control of the Company (or to cause a change in the ownership
of the Company within the meaning of paragraph (i)).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Change in Ownership of a
Substantial Portion of the Company&#8217;s Assets</font>.&#160;&#160;A change in the
ownership of a substantial portion of the Company&#8217;s assets shall occur on the
date that any one person, or more than one person acting as a group (within the
meaning of paragraph (iv)), other than a group of which Officer is a member,
acquires (or has acquired during the 12 month period ending on the date of the
most recent acquisition by such person or persons) assets from the Company that
have a total gross fair market value (within the meaning of paragraph (iii)(B))
equal to or more than 40% of the total gross fair market value of all of the
assets of the Company immediately prior to such acquisition or
acquisitions.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
transfer of the Company&#8217;s assets shall not be treated as a change in the
ownership of such assets if the assets are transferred to one or more of the
following:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
shareholder of the Company (immediately before the asset transfer) in exchange
for or with respect to the Company stock;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;An
entity, 50% or more of the total value or voting power of which is owned,
directly or indirectly, by the Company;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A
person, or more than one person acting as a group (within the meaning of
paragraph (iv)) that owns, directly or indirectly, 50% or more of the total
value or voting power of all of the outstanding stock of the Company;
or</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;An
entity, at least 50% of the total value or voting power of which is owned,
directly or indirectly, by a person described in paragraph
(iii)(A)(3).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
purposes of this paragraph (iii)(A), and except as otherwise provided, a
person&#8217;s status is determined immediately after the transfer of
assets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For
purposes of this paragraph (iii), gross fair market value means the value of all
the Company assets, or the value of the assets being disposed of, determined
without regard to any liabilities associated with such assets.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For
purposes of this Section 1(d), persons shall be considered to be acting as a
group if they are owners of an entity that enters into a merger, consolidation,
purchase, or acquisition of assets, or similar business transaction with the
Company.&#160;&#160;If a person, including an entity shareholder, owns stock in
the Company and another entity with which the Company enters into a merger,
consolidation, purchase, or acquisition of stock, or similar business
transaction, such shareholder shall be considered to be acting as a group with
the other shareholders in a corporation only to the extent of the ownership in
that corporation prior to the transaction giving rise to the change and not with
respect to the ownership interest in the other corporation.&#160;&#160;Persons
shall not be considered to be acting as a group solely because they purchase or
own stock of the Company at the same time, or as a result of the same public
offering of the Company&#8217;s stock.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;EMPLOYMENT.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>Officer and the Company acknowledge
that the employment of the Officer by the Company is &#8220;at will&#8221; and Officer shall
have no rights under this Agreement unless Officer is terminated by the Company
without Cause or by the Officer with Good Reason during the period commencing on
the Effective Date and ending on the second anniversary of such
date.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">TERMS OF AT WILL
EMPLOYMENT</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the term of his or her employment by the Company, and excluding any periods of
vacation and sick leave to which the Officer is entitled, the Officer agrees to
devote reasonable attention and time to the business and affairs of the Company
and, to the extent necessary to discharge the responsibilities assigned to the
Officer by the Board of Directors or the Chief Executive Officer, to use the
Officer&#8217;s reasonable best efforts to perform faithfully and efficiently such
responsibilities.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
the term of this Agreement, the Officer will not, without the prior written
consent of the Company, directly or indirectly other than in the performance of
the duties hereunder, render services of a business, professional or commercial
nature to any other person or firm, whether for compensation or otherwise,
except: (i) with respect to any noncompetitive family businesses of the Officer
for which the rendering of such services will not have an adverse effect upon
Officer&#8217;s performance of his duties and obligations hereunder; (ii) that Officer
shall be permitted to engage in charitable and community affairs provided that
such activities do not interfere with the performance of his duties and
responsibilities enumerated herein; and (iii) to give attention to Officer&#8217;s
investments provided that such activities do not interfere with the performance
of his duties and responsibilities enumerated herein.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">4</font>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">TERMINATION OF
EMPLOYMENT</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Cause</font>.&#160;&#160;For
purposes of this Agreement, &#8220;Cause&#8221; shall mean:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">an
      intentional act of fraud, embezzlement, theft or any other material
      violation of law that occurs during or in the course of the Officer&#8217;s
      employment with the Company;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">intentional
      damage by Officer to the Company&#8217;s
assets;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iii)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">intentional
      disclosure by Officer of the Company&#8217;s confidential information contrary
      to the Company policies;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(iv)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">material
      breach of the Officer&#8217;s obligations under this
  Agreement;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(v)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">intentional
      engagement by the Officer in any activity which would constitute a breach
      of the Officer&#8217;s duty of loyalty or of the Officer&#8217;s assigned
      duties;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vi)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">intentional
      breach by the Officer of any of the Company&#8217;s policies and
      procedures;</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(vii)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      willful and continued failure by Officer to perform the Officer&#8217;s assigned
      duties (other than as a result of incapacity due to physical or mental
      illness); or</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 54pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(viii)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">willful
      conduct by the Officer that is demonstrably and materially injurious to
      the Company, monetarily or
otherwise.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Good
Reason</font>.&#160;&#160;For purposes of this Agreement, &#8220;Good Reason&#8221; shall
mean the assignment to the Officer, without the Officer&#8217;s consent, of any duties
materially inconsistent with the Officer&#8217;s position (including changes in
status, offices, or titles and any change in the Officer&#8217;s reporting
requirements that would cause Officer to report to an officer&#160;&#160;who is
junior in seniority to the officer to whom Officer reports), authority, duties
or responsibilities, determined as of the later of the date of this Agreement or
the date of any modification to Officer&#8217;s position (including status, offices,
titles and reporting requirements, as described above), authority, duties or
responsibilities that is agreed to by Officer, or any other action by the
Company that results in a material diminution in such position, authority,
duties, responsibilities or Officer&#8217;s aggregate compensation, excluding for this
purpose an isolated, insubstantial and inadvertent action taken in good faith
and which is remedied by the Company within thirty (30) days after receipt of
notice thereof given by the Officer (each of these an &#8220;Event&#8221; for purposes of
this Section 4(b)).&#160;&#160;Officer must notify the Company of any Event that
constitutes Good Reason within ninety (90) days following Officer&#8217;s knowledge of
the existence of such Event or such Event shall not constitute Good Reason under
this Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Notice of
Termination</font>.&#160;&#160;Any termination by the Company for Cause, or by
the Officer for Good Reason, shall be communicated by Notice of Termination to
the other party hereto given in accordance with Section 11(b) of this
Agreement.&#160;&#160;For purposes of this Agreement, a &#8220;Notice of Termination&#8221;
means a written notice which (i) indicates the specific termination provision in
this Agreement relied upon, (ii) to the extent applicable, sets forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of the Officer&#8217;s employment under the provision so indicated and
(iii) specifies the termination date (which date shall not be more than thirty
(30) days after the giving of such notice; <font style="DISPLAY: inline; FONT-STYLE: italic">provided, however</font>, if Officer
is terminating for Good Reason such date shall not be less than thirty (30) nor
more than forty-five (45) days after giving of such notice).&#160;&#160;The
failure by the Officer or the Company to set forth in the Notice of Termination
any fact or circumstance which contributes to a showing of Good Reason or Cause
shall not waive any right of the Officer or the Company, respectively, hereunder
or preclude the Officer or the Company, respectively, from asserting such fact
or circumstance in enforcing the Officer&#8217;s or the Company&#8217;s rights
hereunder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(e) <font style="DISPLAY: inline; TEXT-DECORATION: underline">Date of
Termination</font>.&#160;&#160;&#8220;Date of Termination&#8221; means the date of receipt
of the Notice of Termination, or any later date specified therein, as the case
may be. The Company and the Officer shall take all steps necessary (including
with regard to any post-termination services by the Officer) to ensure that any
termination described in this Section 4 constitutes a &#8220;separation from service&#8221;
within the meaning of Section 409A of the Code, and notwithstanding anything
contained herein to the contrary, the date on which the separation from service
takes place shall be the &#8220;Date of Termination.&#8221;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(f)&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Covenants Necessary to the
Company&#8217;s Business.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Solicitation of
Customers</font>.&#160;&#160;The Officer covenants and agrees that, during the
term of this Agreement and for a period of one (1) year following the
termination of this Agreement Officer will not, either directly or indirectly,
in competition with the Company Business (as defined below), solicit, entice or
recruit for a Competing Business (as defined below), attempt to solicit, entice
or recruit for a Competing Business, or attempt to divert or appropriate to a
Competing Business, any actual or prospective customer of the Company with whom
Officer had contact on behalf of the Company.&#160;&#160;For the purposes of
this Agreement, &#8220;Company Business&#8221; shall mean the business of (A) processing
cardiac or vascular tissues,&#160;(B)&#160;marketing biological glue or protein
hydrogel technology products, (C) marketing transport or other solutions for use
with human organs to be transplanted and/or (D) marketing hemostatic agents for
use in surgeries.&#160;&#160;&#8220;Competing Business&#8221; shall mean any person or
entity that engages in a commercial business that is the same as or
substantially similar to the Company Business, and only that portion of the
business that is in competition with the Company Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Non-Solicitation of
Employees</font>.&#160;&#160;Officer covenants and agrees that, during the term
of this Agreement for a period of one (1) year following the Date of
Termination, Officer will not, either directly or indirectly, solicit, entice,
encourage, cause, or recruit any person employed by the Company and with whom
Officer had contact during Officer&#8217;s employment with the Company to leave such
person&#8217;s employment with the Company to join a Competing Business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 108pt"></font>(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Consideration for
Covenants.</font>&#160;&#160;Officer covenants and agrees that the payment of
any Severance Payment (as defined in Section 5(e)) shall be subject to and
expressly conditioned upon Officer&#8217;s compliance with the covenants set forth in
subparagraphs (i) and (ii) above.&#160;&#160;Should Officer fail to comply with
these covenants, the Company shall not be required to make the Severance Payment
(or any portion of the Severance Payment that remains unpaid), and the Officer
shall be required to repay any portion of the Severance Payment that the Officer
has already received from the Company.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">OBLIGATIONS OF THE COMPANY UPON
TERMINATION</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If,
during the two year period commencing on the Effective Date and ending on the
second<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>anniversary
of the Effective Date, (i) the Company shall terminate the Officer&#8217;s employment
without Cause, or (ii) the Officer shall terminate employment for Good Reason,
then the Company shall pay to Officer the Severance Payment (defined
below).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b) <font style="DISPLAY: inline; TEXT-DECORATION: underline">Severance
Payment</font>.&#160;&#160;The &#8220;Severance Payment&#8221; shall be an amount equal to
two (2) times the aggregate of Officer&#8217;s base salary as of the Date of
Termination and bonus compensation for the year in which the termination of
employment occurs. For purposes of determining Officer&#8217;s bonus compensation for
purposes of this Section 5(b), if the Date of Termination occurs before the
awarding of bonuses for the year in which the Date of Termination occurs, the
bonus compensation component of the Severance Payment shall be computed based on
Officer&#8217;s most recent awarded bonus.&#160;&#160;Bonus compensation shall include
both the Annual Bonus paid in cash and the value of any non-cash bonuses, such
as options or restricted stock. Any such options will be valued pursuant to the
Black Scholes valuation method as of the grant date, using the same assumptions
used by the Company in computing the FAS 123R charge for the options, and any
shares of restricted stock will be valued at the closing price of the the
Company Common Stock on The New York Stock Exchange on the date of
issuance.&#160;&#160;The Company&#8217;s annual option and restricted stock grants
shall not be deemed to be bonus compensation unless they are specifically
designated as such by the the Company Compensation Committee.&#160;&#160;For the
sake of clarification, all cash paid and any shares issued in payment of all or
a portion of the bonus pursuant to the Company&#8217;s Officer Incentive Plan shall be
bonus compensation for purposes of this Agreement for the year in which paid or
issued. The Severance Payment shall be payable to Officer as
follows:</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 108pt"></font>(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Severance Payment, if any is due hereunder, shall be paid to Officer in a lump
sum not later than thirty (30) days following Officer&#8217;s Date of
Termination.&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 108pt"></font>(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In
the event of an Anticipatory Termination, the Severance Payment shall be paid to
Officer in a lump sum not later than thirty (30) days following the date of the
Change of Control.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Notwithstanding
the foregoing, if any amount paid pursuant to this Section 5(b) is deferred
compensation withing the meaning of Section 409A of the Code and as of the Date
of Termination Officer is a Specified Employee, amounts that would otherwise be
payable during the six-month period immediately following the Date of
Termination shall instead be paid, with interest on any delayed payment at the
applicable federal rate provided for in Section 7872(f)(2)(A) of the Code, on
the first business day after the date that is six months following Officer&#8217;s
&#8220;separation from service&#8221; within the meaning of Section 409A of the Code (the
&#8220;Delayed Payment Date&#8221;).&#160;&#160;&#160;As used in this Agreement, the term
&#8220;Specified Employee&#8221; means a &#8220;specified employee&#8221; as defined in Section
409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as amended (the &#8220;Code&#8221;).
By way of clarification, &#8220;specified employee&#8221; means a &#8220;key employee&#8221; (as defined
in Section 416(i) of the Code, disregarding Section 416(i)(5) of the Code) of
the Company.&#160;&#160;Officer shall be treated as a key employee if the
Officer meets the requirement of Section 416(i)(1)(A)(i), (ii), or (iii) at any
time during the twelve (12) month period ending on an &#8220;identification
date&#8221;.&#160;&#160;For purposes of any &#8220;Specified Employee&#8221; determination
hereunder, the &#8220;identification date&#8221; shall mean the last day of each calendar
year.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">FULL SETTLEMENT</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>In no event shall the Officer be
obligated to seek other employment or take any other action by way of mitigation
of the amounts payable to the Officer under any of the provisions of this
Agreement and such amounts shall not be reduced whether or not the Officer
obtains other employment.&#160;&#160;The Company agrees to pay, to the full
extent permitted by law, all legal fees and expenses which the Officer may
reasonably incur as a result of any contest by the Company or Officer with
respect to liability under or the interpretation of the validity or
enforceability of, any provision of this Agreement, but only in the event and to
the extent that (i) the Officer receives a final, non-appealable judgment in his
favor in any such action or receives a final judgment in his favor that has not
been appealed by the Company within 30 days of the date of the judgment; or (ii)
the parties agree to dismiss any such action upon the Company&#8217;s payment of the
sums allegedly due the Officer or performance of the covenants by the Company
allegedly breached by it.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">LIMITATION OR EXPANSION OF
BENEFITS</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a) In the event it shall be determined
that all or any portion of any benefit, payment, acceleration right or
distribution by the Company to or for the benefit of the Officer (whether
payable or distributable pursuant to the terms of this Agreement or otherwise)
is treated as an &#8220;excess parachute payment&#8221; (as defined in Section 280G(b)(1) of
the Code) which is subject to the excise tax imposed by Section 4999 of the Code
(such excise tax, the &#8220;Excise Tax&#8221;), then the Company shall pay to Officer an
additional amount of cash (a &#8220;Gross-Up Payment&#8221;) equal to the amount necessary
to cause the amount of the aggregate after-tax compensation and benefits
received by the Officer hereunder (after payment of the excise tax under Section
4999 of the Code with respect to any excess parachute payment, and any state and
federal income and employment taxes with respect to the Gross-Up Payment) to
equal the aggregate after-tax compensation and benefits the Officer would have
received if the Excise Tax had not been imposed. The Gross Up Payment shall be
paid to Officer on the date that is thirty (30) days prior to the date on which
the Excise Tax with respect to any excess parachute payment is due.&#160;&#160;A
nationally recognized public accounting firm selected by the Company shall
initially determine, at the Company&#8217;s expense, whether an &#8220;excess parachute
payment&#8221; will be made to Officer, and if so, the amount of the Gross-Up
Payment.&#160;&#160;In the event of a subsequent claim by the Internal Revenue
Service that, if successful, would result in Officer&#8217;s liability for an Excise
Tax in excess of the amount covered by any previous Gross-Up Payment, the
Officer shall promptly notify the Company in writing of such
claim.&#160;&#160;If the Company elects to contest such claim, it shall so
notify the Officer and shall bear and pay directly or indirectly all costs and
expenses of contesting the claim (including additional interest and penalties
incurred in connection with such action), and shall indemnify and hold Officer
harmless, on an after-tax basis, for any excise, income, or employment tax,
including interest and penalties with respect thereto, imposed as a result of
the Company&#8217;s payment of costs of the contest. Officer shall cooperate fully
with the Company in the defense of any such IRS claim.&#160;&#160;If, as a
result of the Company&#8217;s action with respect to a claim, Officer receives a
refund of any amount paid by the Company with respect to such claim, Officer
shall promptly pay such refund to the Company.&#160;&#160;In the event the IRS
claim is finally determined to result in the imposition of additional Excise Tax
on Officer, the Company shall make an additional Gross-Up Payment with respect
to any such additional Excise Tax.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b) Anything in this Agreement to the
contrary notwithstanding, aggregate severance, separation and/or similar
payments made to Officer pursuant to this Agreement and otherwise shall be
limited to the equivalent of Officer&#8217;s salary paid during the three (3)
completed fiscal years ended prior to the Date of Termination, including bonuses
and guaranteed benefits paid during those years. If necessary, any Gross-Up
Payment will be reduced in order to comply with this provision.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">CONFIDENTIAL
INFORMATION</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>The Officer and the Company are parties
to one or more separate agreements respecting confidential information, trade
secrets, inventions and non-competition (collectively, the &#8220;IP Agreements&#8221;). The
parties agree that the IP Agreements shall not be superseded or terminated by
this Agreement and shall survive any termination of this Agreement; provided,
however, that to the extent that there is any conflict or overlap between the
provisions of this Agreement and any of the IP Agreements, those provisions that
provide the Company with the greatest rights and protections shall
control.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">SUCCESSORS.</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a) This Agreement is personal to the
Officer and without the prior written consent of the Company shall not be
assignable by the Officer otherwise than by will or the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable by
the Officer&#8217;s legal representatives.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b) This Agreement shall inure to the
benefit of and be binding upon the Company and its successors and
assigns.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c) The Company will require any
successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business and/or assets of the
Company to assume expressly and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform it
if no such succession had taken place.&#160;&#160;As used in this Agreement,
&#8220;the Company&#8221; shall mean CryoLife as hereinbefore defined and any successor to
its business and/or assets as aforesaid which assumes and agrees to perform this
Agreement by operation of law, or otherwise.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;COMPLIANCE
WITH SECTION 409A.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This
Agreement is intended to comply with, or otherwise be exempt from, Section 409A
of the Code and any regulations and Treasury guidance promulgated
thereunder.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Company and Officer agree that they will execute any and all amendments to this
Agreement as they mutually agree in good faith may be necessary to ensure
compliance with Section 409A of the Code.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
Company makes no representation or warranty as to the tax effect of any of the
preceding provisions, and the provisions of this Agreement shall not be
construed as a guarantee by the Company of any particular tax effect to Officer
under this Agreement.&#160;&#160;the Company shall not be liable to Officer or
any other person for any payment made under this Agreement which is determined
to result in the imposition of an excise tax, penalty or interest under Section
409A of the Code, nor for reporting in good faith any payment made under this
Agreement as an amount includible in gross income under Section 409A of the
Code.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-WEIGHT: bold">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">MISCELLANEOUS</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(a) This Agreement shall be governed by
and construed in accordance with the laws of the State of Georgia, without
reference to principles of conflict of laws. The captions of this Agreement are
not part of the provisions hereof and shall have no force and effect. This
Agreement may not be amended or modified otherwise than by a written agreement
executed by the parties hereto or their respective successors and legal
representatives.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 72pt"></font>(b) All notices and other
communications hereunder shall be in writing and shall be given by hand delivery
(which shall include delivery via Federal Express or UPS) to the other party or
by registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:</font></div>
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      Ashley Lee</font></div>
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                      <td valign="top" width="25%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                    <tr>
                      <td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                      <td valign="top" width="75%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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                      <td valign="top" width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
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      (770)
590-3754</font></div>
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such other address as either party shall have furnished to the other in writing
in accordance herewith. Notice and communications shall be effective when
actually received by the addressee.</font></div>
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or the application of any provision hereof to any person or circumstance is held
invalid, unenforceable or otherwise illegal, the remainder of this Agreement and
the application of such provision to any other person or circumstance shall not
be affected, and the provision so held to be invalid, unenforceable or otherwise
illegal shall be reformed to the extent (and only to the extent) necessary to
make it valid, enforceable and legal; provided, however, if the provision so
held to be invalid, unenforceable or otherwise illegal cannot be reformed so as
to be valid and enforceable, then it shall be severed from, and shall not affect
the enforceability of, the remaining provisions of the Agreement.</font></div>
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amounts payable under this Agreement such Federal, state, local or foreign taxes
as shall be required to be withheld pursuant to any applicable law or
regulation.</font></div>
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agreement between the parties with respect to the subject matter addressed
herein, except as specifically set forth in Section 9 above.&#160;&#160;From and
after the Effective Date, this Agreement shall supersede any other agreement
between the parties with respect to the subject matter hereof.</font></div>
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                        <td colspan="2" valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
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                        <td valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="top" width="35%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                        <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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                          <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
                        </td>
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