<SEC-DOCUMENT>0001193125-23-164457.txt : 20230609
<SEC-HEADER>0001193125-23-164457.hdr.sgml : 20230609
<ACCEPTANCE-DATETIME>20230609161303
ACCESSION NUMBER:		0001193125-23-164457
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20230606
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20230609
DATE AS OF CHANGE:		20230609

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Topgolf Callaway Brands Corp.
		CENTRAL INDEX KEY:			0000837465
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		IRS NUMBER:				953797580
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10962
		FILM NUMBER:		231005394

	BUSINESS ADDRESS:	
		STREET 1:		2180 RUTHERFORD RD
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92008-8815
		BUSINESS PHONE:		7609311771

	MAIL ADDRESS:	
		STREET 1:		2180 RUTHERFORD ROAD
		CITY:			CARLSBAD
		STATE:			CA
		ZIP:			92008

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALLAWAY GOLF CO
		DATE OF NAME CHANGE:	20070612

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALLAWAY GOLF
		DATE OF NAME CHANGE:	20070604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALLAWAY GOLF CO
		DATE OF NAME CHANGE:	20070604
</SEC-HEADER>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left">Soliciting material pursuant to Rule <span style="white-space:nowrap">14a-12</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14a-12)</span></p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:left"><span style="white-space:nowrap">Pre-commencement</span> communications pursuant to Rule <span style="white-space:nowrap">14d-2(b)</span> under the Exchange Act (17 CFR <span style="white-space:nowrap">240.14d-2(b))</span></p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Title of each class</p></td>
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<td style=" text-align: center;margin:auto; border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Trading</p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Symbol(s)</p></td>
<td style="vertical-align:bottom">&#160;</td>
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<td style="vertical-align:bottom">&#160;</td>
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<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;1.01</span></td>
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<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.03</span></td>
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<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top" align="left">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">address the universal proxy rules adopted by the U.S. Securities and Exchange Commission, by clarifying that no person may solicit proxies in support of a director nominee other than the Board&#8217;s nominees unless such person has complied with Rule <span style="white-space:nowrap">14a-19</span> under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), including applicable notice and solicitation requirements; </p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top" align="left">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">permit stockholders holding not less than 25% of the voting power of the outstanding shares of the Company who have held such shares continuously for at least one year to call a special meeting of stockholders, and provide related procedural requirements, including that a stockholder may make a demand to call a special meeting only after first submitting a request that the Board fix a record date for the purpose of determining the stockholders entitled to demand that the Secretary of the Company call a special meeting; </p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top" align="left">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">enhance procedural mechanics and disclosure requirements in connection with stockholder nominations of directors and submissions of proposals regarding other business at stockholder meetings, including, without limitation, by requiring additional background information and disclosures regarding proposing stockholders, proposed director nominees and business, and other persons related to a stockholder&#8217;s solicitation of proxies; </p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top" align="left">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">require that a stockholder directly or indirectly soliciting proxies from other stockholders use a proxy card color other than white; and </p></td></tr></table> <p style="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:5%">&#160;</td>
<td style="width:3%;vertical-align:top" align="left">&#8226;</td>
<td style="width:1%;vertical-align:top">&#160;</td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt;text-align:left">adopt an exclusive forum provision designating U.S. federal courts as the exclusive forum for all claims arising under the Securities Act of 1933, as amended, and further enable the Company to initiate an action against a stockholder to enforce the exclusive forum requirements should the stockholder sue, or threaten to sue, in another jurisdiction. </p></td></tr></table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Amended and Restated Bylaws also include certain technical, conforming, modernizing or clarifying changes. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the changes contained in the Amended and Restated Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, a copy of which is attached hereto as Exhibit 3.1 to this Current Report on Form <span style="white-space:nowrap">8-K</span> and is incorporated herein by reference. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
<td style="width:11%;vertical-align:top" align="left"><span style="font-weight:bold">Item&#160;5.07</span></td>
<td align="left" style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold;text-align:left">Submission of Matters to a Vote of Security Holders. </p></td></tr></table> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&#160;6, 2023, the Company&#8217;s shareholders approved four proposals at its Annual Meeting. Of the 185,603,045 shares of the Company&#8217;s common stock outstanding as of the record date, 156,099,080 shares were represented at the Annual Meeting. </p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A description of each matter voted upon at the Annual Meeting is described in detail in the Proxy Statement. The number of votes cast for and against and the number of abstentions and broker <span style="white-space:nowrap">non-votes</span> with respect to each matter voted upon are set forth below. </p>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
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<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="text-decoration:underline">Proposal 1: Annual Election of Directors </span></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The voting results for the annual election of directors are as follows: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:92%;border:0;margin:0 auto">


<tr>

<td style="width:59%"></td>

<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td>

<td style="vertical-align:bottom;width:2%"></td>
<td></td>
<td></td>
<td></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="14" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Shares Voted</span></td>
<td style="vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom"><span style="font-weight:bold">Name of Candidate</span></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">For</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Against</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Abstain</span></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td colspan="2" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"><span style="font-weight:bold">Broker</span><br /><span style="font-weight:bold"><span style="white-space:nowrap">Non-Votes</span></span></td>
<td style="vertical-align:bottom">&#160;</td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Oliver G. (Chip) Brewer III</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">133,813,066</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,352,711</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">209,309</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">John F. Lundgren</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">131,735,574</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">3,294,532</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">344,980</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Erik J Anderson</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">132,810,356</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,330,753</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">233,977</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Laura J. Flanagan</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">133,577,100</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,576,612</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">221,374</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Russell L. Fleischer</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">134,245,203</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">882,541</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">247,342</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bavan M. Holloway</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">128,573,824</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">6,554,886</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">246,376</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Scott M. Marimow</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">134,154,272</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">786,997</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">433,817</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adebayo O. Ogunlesi</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">131,666,416</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">3,342,338</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">366,332</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
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<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">133,601,691</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
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<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">243,376</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
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<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">133,248,282</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">1,773,326</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">353,478</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Anthony S. Thornley</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">131,803,596</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">2,968,802</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">602,688</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top"> <p style=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">C. Matthew Turney</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">134,163,525</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">705,126</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">506,435</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td>
<td style="white-space:nowrap;vertical-align:bottom" align="right">20,723,994</td>
<td style="white-space:nowrap;vertical-align:bottom">&#160;</td></tr>
</table> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><span style="text-decoration:underline">Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm</span> </p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company&#8217;s shareholders ratified, on an advisory basis, the Audit Committee&#8217;s appointment of Deloitte&#160;&amp; Touche LLP as the Company&#8217;s independent registered public accounting firm for the fiscal year ending December&#160;31, 2023. The following sets forth the results of the voting with respect to this proposal: </p> <p style="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:76%;border:0;margin:0 auto">


<tr>

<td style="width:34%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:32%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:32%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td colspan="5" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Shares&#160;Voted</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">154,290,557</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">1,593,844</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">214,679</td></tr>
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<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:84%;border:0;margin:0 auto">


<tr>

<td style="width:24%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:24%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:25%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:24%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
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<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">For</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Against</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center"><span style="white-space:nowrap">Broker&#160;Non-Votes</span></p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">131,523,577</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">3,606,711</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">244,798</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom" align="center">20,723,994</td></tr>
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<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt;width:100%;border:0;margin:0 auto">


<tr>

<td style="width:18%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:19%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:20%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:20%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:19%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td colspan="9" align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Shares Voted</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">1 Year</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">2 Years</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">3 Years</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Abstentions</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td align="center" style="border-bottom:1.00pt solid #000000;vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center"><span style="white-space:nowrap">Broker&#160;Non-</span></p> <p style="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Votes</p></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff">
<td style="vertical-align:bottom" align="center">128,803,901</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">294,817</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">6,216,486</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">59,882</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap" align="center">20,723,994</td></tr>
</table> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based upon the results set forth in Proposal 4 above, the Company currently intends to hold an advisory vote on the compensation of its named executive officers every year. </p>
</div></div>



<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
 <p style="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No other items were presented for shareholder approval at the Annual Meeting. </p> <p style="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&#160;</p>
<table style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%" cellpadding="0" cellspacing="0">
<tr style="page-break-inside:avoid">
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<tr>

<td></td>

<td style="vertical-align:bottom;width:5%"></td>
<td style="width:92%"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<td style="vertical-align:bottom;white-space:nowrap" align="center"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:inline-block; font-size:8pt; font-family:Times New Roman;font-weight:bold;text-align:center">Exhibit<br />Number</p></td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:bottom;white-space:nowrap"> <p style=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman;font-weight:bold">Exhibit Title or Description</p></td></tr>


<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">&#160;&#160;3.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d305762dex31.htm">Amended and Restated Bylaws of Topgolf Callaway Brands Corp., effective June&#160;6, 2023 </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">10.1</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top"><a href="d305762dex101.htm">Indemnification Agreement, dated as of June&#160;6, 2023, between the Company and C. Matthew Turney </a></td></tr>
<tr style="font-size:1pt">
<td style="height:6pt"></td>
<td style="height:6pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:top;white-space:nowrap">104</td>
<td style="vertical-align:bottom">&#160;&#160;</td>
<td style="vertical-align:top">Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document</td></tr>
</table>
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<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<hr style="color:#999999;height:3px;width:100%" />

<div style="text-align:center"><div style="width:8.5in;text-align:left;margin-left: auto;margin-right: auto">
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<table cellspacing="0" cellpadding="0" style="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:100%;border:0">


<tr>

<td style="width:44%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:4%"></td>

<td style="vertical-align:bottom"></td>
<td style="width:5%"></td>

<td style="vertical-align:bottom;width:1%"></td>
<td style="width:44%"></td></tr>


<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"><span style="font-weight:bold">TOPGOLF CALLAWAY BRANDS CORP.</span></td></tr>
<tr style="font-size:1pt">
<td style="height:12pt"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td>
<td style="height:12pt" colspan="2"></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"> <p style=" margin-top:0pt ; margin-bottom:0pt; text-indent:2.00em; font-size:10pt; font-family:Times New Roman">Date: June&#160;9, 2023</p></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">By:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"> <p style="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Heather D. McAllister</p></td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Name:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Heather D. McAllister</td></tr>
<tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom"></td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:top">Title:</td>
<td style="vertical-align:bottom">&#160;</td>
<td style="vertical-align:bottom">Senior Vice President, General Counsel and Corporate Secretary</td></tr>
</table>
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<DOCUMENT>
<TYPE>EX-3.1
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<FILENAME>d305762dex31.htm
<DESCRIPTION>EX-3.1
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<HTML><HEAD>
<TITLE>EX-3.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 3.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED AND RESTATED </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BYLAWS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TOPGOLF CALLAWAY BRANDS CORP. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(A DELAWARE CORPORATION) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(as Amended and Restated Effective June&nbsp;6, 2023) </B></P>
</DIV></Center>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE I CORPORATE OFFICES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Registered Office</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Other Offices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE II MEETINGS OF STOCKHOLDERS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Place of Meetings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Annual Meeting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Notice of Business to be Brought Before a Meeting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Notice of Nominations for Election to the Board of Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Additional Requirements for Valid Nomination of Candidates to Serve as Director and, if Elected, to be Seated as Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Special Meetings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.7</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Proxy Access</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.8</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Notice of Stockholders&#146; Meetings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.9</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Conduct of Meeting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Manner of Giving Notice; Affidavit of Notice</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Quorum</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Adjourned Meeting; Notice</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Voting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Waiver of Notice</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.15</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Stockholder Action By Written Consent</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.16</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Record Date for Stockholder Notice; Voting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.17</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Proxies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.18</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>List of Stockholders Entitled to Vote</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.19</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Meeting By Remote Communications</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE III DIRECTORS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Powers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Number of Directors; Independence</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Election and Term of Office of Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Resignation and Vacancies</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Place of Meetings; Meetings by Telephone</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Regular Meetings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.7</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Special Meetings; Notice</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.8</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Quorum</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.9</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Waiver of Notice</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Adjournment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Notice of Adjournment</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Board Action by Written Consent Without a Meeting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Fees and Compensation of Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.14</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Approval of Loans to Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="89%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
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<TD></TD>
<TD></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE IV COMMITTEES</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Committees of Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Meetings and Action of Committees</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Committee Minutes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE V OFFICERS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Election of Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Subordinate Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Removal and Resignation of Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Vacancies In Offices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Chairman of the Board</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.7</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Chief Executive Officer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.8</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>President</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.9</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Vice Presidents</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Secretary</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Chief Financial Officer</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE VI INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES AND OTHER AGENTS</P></TD>

<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Indemnification of Directors and Officers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Indemnification of Others</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Insurance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Claims</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE VII RECORDS AND REPORTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Maintenance and Inspection of Records</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Inspection By Directors</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Representation of Shares of Other Corporations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Certification and Inspection of Bylaws</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE VIII GENERAL MATTERS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.1</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Record Date for Purposes Other than Notice and Voting</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.2</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Checks; Drafts; Evidences of Indebtedness</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.3</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Corporate Contracts and Instruments: How Executed</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.4</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Stock Certificates; Transfer; Partly Paid Shares</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.5</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Special Designation On Certificates</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.6</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Lost Certificates</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.7</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Transfer Agents and Registrars</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.8</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Construction; Definitions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.9</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Forum Selection</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Electronic Signatures</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE IX AMENDMENTS</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CORPORATE OFFICES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.1</B> <B>Registered Office</B>. The registered office of the corporation shall be fixed in the certificate of incorporation of the
corporation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.2</B> <B>Other Offices</B>. The board of directors may at any time establish branch or subordinate offices at any place
or places where the corporation is qualified to do business. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MEETINGS OF STOCKHOLDERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1</B> <B>Place of Meetings</B>. Meetings of stockholders shall be held at any place within or outside the State of Delaware designated by
the board of directors, or if so determined by the board of directors, by means of remote communication as set forth in Section&nbsp;2.18 below. In the absence of any such designation, stockholders&#146; meetings shall be held at the principal
executive office of the corporation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.2</B> <B>Annual Meeting</B>. The annual meeting of stockholders shall be held each year on a
date and at a time designated by the board of directors. At the meeting, directors shall be elected, and any other business properly brought before the meeting may be transacted. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.3</B> <B>Notice of Business to be Brought Before a Meeting</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) At an annual meeting of the stockholders, only such business shall be conducted as shall have been properly brought before the meeting. To
be properly brought before an annual meeting, business must be (i)&nbsp;specified in the notice of meeting given by or at the direction of the board of directors, (ii)&nbsp;if not specified in the notice of meeting, otherwise brought before the
meeting by the board of directors or the chairman of the board or (iii)&nbsp;otherwise properly brought before the meeting by a stockholder present in person who (A)&nbsp;(1) was a record owner of shares of the corporation both at the time of giving
the notice provided for in this Section&nbsp;2.3 and at the time of the meeting, (2)&nbsp;is entitled to vote at the meeting, and (3)&nbsp;has complied with this Section&nbsp;2.3<B> </B>in all applicable respects or (B)&nbsp;properly made such
proposal in accordance with Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> under the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (as so amended and inclusive of such rules and regulations, the
&#147;<U>Exchange Act</U>&#148;). The foregoing clause (iii)&nbsp;shall be the exclusive means for a stockholder to propose business to be brought before an annual meeting of the stockholders. The only matters that may be brought before a special
meeting are the matters specified in the notice of meeting given by or at the direction of the person calling the meeting pursuant to Section&nbsp;2.6, and<B> </B>stockholders shall not be permitted to propose business to be brought before a special
meeting of the stockholders. For purposes of this Section&nbsp;2.3, &#147;present in person&#148; shall mean that the stockholder proposing that the business be brought before the annual meeting of the corporation, or a qualified representative of
such proposing stockholder, appear at such annual meeting. A &#147;qualified representative&#148; of such proposing stockholder shall be a duly authorized officer, manager or partner of such stockholder or any other person authorized by a writing
executed by such stockholder or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of stockholders and such person must produce such writing or electronic transmission, or a reliable
reproduction of the writing or electronic transmission, at the meeting of stockholders. Stockholders seeking to nominate persons for election to the board of directors must comply with Section&nbsp;2.4 and Section&nbsp;2.5, and this Section&nbsp;2.3
shall not be applicable to nominations except as expressly provided in Section&nbsp;2.4 and Section&nbsp;2.5. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Without qualification, for business to be properly brought before an annual meeting by a
stockholder, the stockholder must (i)&nbsp;provide Timely Notice (as defined below) thereof in writing and in proper form to the secretary of the corporation and (ii)&nbsp;provide any updates or supplements to such notice at the times and in the
forms required by this Section&nbsp;2.3. To be timely, a stockholder&#146;s notice must be delivered to, or mailed and received at, the principal executive offices of the corporation not less than ninety (90)&nbsp;days nor more than<B> </B>one
hundred twenty (120)&nbsp;days prior to the <FONT STYLE="white-space:nowrap">one-year</FONT> anniversary of the preceding year&#146;s annual meeting; provided, however, that if the date of the annual meeting is more than thirty (30)&nbsp;days before
or more than sixty (60)&nbsp;days after such anniversary date, notice by the stockholder to be timely must be so delivered, or mailed and received, not more than the hundred twentieth (120th) day prior to such annual meeting and<B> </B>not later
than (i)&nbsp;the ninetieth (90<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day prior to such annual meeting or, (ii)&nbsp;if later, the tenth (10<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day following the day on which
public disclosure (as defined below) of the date of such annual meeting was first made (such notice within such time periods, &#147;<U>Timely Notice</U>&#148;). In no event shall any adjournment or postponement of an annual meeting or the
announcement thereof commence a new time period for the giving of Timely Notice as described above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) To be in proper form for purposes
of this Section&nbsp;2.3, a stockholder&#146;s notice to the secretary shall set forth: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) As to each Proposing Person (as defined
below), (A)&nbsp;the name and address of such Proposing Person (including, if applicable, the name and address that appear on the corporation&#146;s books and records); (B)&nbsp;the class or series and number of shares of the corporation that are,
directly or indirectly, owned of record or beneficially owned (within the meaning of Rule <FONT STYLE="white-space:nowrap">13d-3</FONT> under the Exchange Act) by such Proposing Person, except that such Proposing Person shall in all events be deemed
to beneficially own any shares of any class or series of the corporation as to which such Proposing Person has a right to acquire beneficial ownership at any time in the future; (C)&nbsp;the date or dates such shares were acquired; (D)&nbsp;the
investment intent of such acquisition and (E)&nbsp;any pledge by such Proposing Person with respect to any of such shares (the disclosures to be made pursuant to the foregoing clauses (A)&nbsp;through (E) are referred to as &#147;<U>Stockholder
Information</U>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) As to each Proposing Person, <B>(</B>A<B>)</B><B></B>&nbsp;the full notional amount of any securities that,
directly or indirectly, underlie any &#147;derivative security&#148; (as such term is defined in Rule <FONT STYLE="white-space:nowrap">16a-1(c)</FONT> under the Exchange Act) that constitutes a &#147;call equivalent position&#148; (as such term is
defined in Rule <FONT STYLE="white-space:nowrap">16a-1(b)</FONT> under the Exchange Act) (&#147;<U>Synthetic Equity Position</U>&#148;) and that is, directly or indirectly, held or maintained by such Proposing Person with respect to any shares of
any class or series of shares of the corporation; provided that, for the purposes of the definition of &#147;Synthetic Equity Position,&#148; the term &#147;derivative security&#148; shall also include any security or instrument that would not
otherwise constitute a &#147;derivative security&#148; as a result of any feature that would make any conversion, exercise or similar right or privilege of such security or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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instrument becoming determinable only at some future date or upon the happening of a future occurrence, in which case the determination of the amount of securities into which such security or
instrument would be convertible or exercisable shall be made assuming that such security or instrument is immediately convertible or exercisable at the time of such determination; and, provided, further, that any Proposing Person satisfying the
requirements of Rule <FONT STYLE="white-space:nowrap">13d-1(b)(1)</FONT> under the Exchange Act (other than a Proposing Person that so satisfies Rule <FONT STYLE="white-space:nowrap">13d-1(b)(1)</FONT> under the Exchange Act solely by reason of Rule
<FONT STYLE="white-space:nowrap">13d-1(b)(1)(ii)(E))</FONT> shall not be deemed to hold or maintain the notional amount of any securities that underlie a Synthetic Equity Position held by such Proposing Person as a hedge with respect to a bona fide
derivatives trade or position of such Proposing Person arising in the ordinary course of such Proposing Person&#146;s business as a derivatives dealer, (B)&nbsp;any rights to dividends on the shares of any class or series of shares of the
corporation owned beneficially by such Proposing Person that are separated or separable from the underlying shares of the corporation, (C)&nbsp;any material pending or threatened legal proceeding in which such Proposing Person is a party or material
participant involving the corporation or any of its officers or directors, or any affiliate of the corporation, (D)&nbsp;any other material relationship between such Proposing Person, on the one hand, and the corporation or any affiliate of the
corporation, on the other hand, (E)&nbsp;any direct or indirect material interest in any material contract or agreement of such Proposing Person with the corporation or any affiliate of the corporation (including, in any such case, any employment
agreement, collective bargaining agreement or consulting agreement), (F) any proportionate interest in shares of the Corporation or a Synthetic Equity Position held, directly or indirectly, by a general or limited partnership, limited liability
company or similar entity in which any such Proposing Person (1)&nbsp;is a general partner or, directly or indirectly, beneficially owns an interest in a general partner of such general or limited partnership or (2)&nbsp;is the manager, managing
member or, directly or indirectly, beneficially owns an interest in the manager or managing member of such limited liability company or similar entity; (G)&nbsp;a representation that such Proposing Person intends or is part of a group which intends
to deliver a proxy statement or form of proxy to holders of at least the percentage of the corporation&#146;s outstanding capital stock required to approve or adopt the proposal or otherwise solicit proxies from stockholders in support of such
proposal<B> </B>and (H)&nbsp;any other information relating to such Proposing Person that would be required to be disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies or consents by such
Proposing Person in support of the business proposed to be brought before the meeting pursuant to Section&nbsp;14(a) of the Exchange Act (the disclosures to be made pursuant to the foregoing clauses (A)&nbsp;through (H) are referred to as
&#147;<U>Disclosable Interests</U>&#148;); provided, however, that Disclosable Interests shall not include any such disclosures with respect to the ordinary course business activities of any broker, dealer, commercial bank, trust company or other
nominee who is a Proposing Person solely as a result of being the stockholder directed to prepare and submit the notice required by these bylaws on behalf of a beneficial owner; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) As to each item of business that the stockholder proposes to bring before the annual meeting, (A)&nbsp;a brief description of the
business desired to be brought before the annual meeting, the reasons for conducting such business at the annual meeting and any material interest in such business of each Proposing Person, (B)&nbsp;the text of the proposal or business (including
the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend the bylaws, the language of the proposed amendment), (C)&nbsp;a reasonably detailed description of all agreements, arrangements
and understandings (x)&nbsp;between or among any of the Proposing Persons or (y)&nbsp;between or among any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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Proposing Person and any other record or beneficial holder(s) or persons(s) who have a right to acquire beneficial ownership at any time in the future of the shares of any class or series of the
corporation <U>or</U> any other person or entity (including their names) in connection with the proposal of such business by such stockholder, and (D)&nbsp;any other information relating to such item of business that would be required to be
disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies in support of the business proposed to be brought before the meeting pursuant to Section&nbsp;14(a) of the Exchange Act; provided,
however, that the disclosures required by this paragraph (iii)&nbsp;shall not include any disclosures with respect to any broker, dealer, commercial bank, trust company or other nominee who is a Proposing Person solely as a result of being the
stockholder directed to prepare and submit the notice required by these bylaws on behalf of a beneficial owner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;2.3,
the term &#147;<U>Proposing Person</U><I>&#148; </I>shall mean (i)&nbsp;the stockholder providing the notice of business proposed to be brought before an annual meeting, (ii)&nbsp;the beneficial owner or beneficial owners, if different, on whose
behalf the notice of the business proposed to be brought before the annual meeting is made, and (iii)&nbsp;any participant (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule&nbsp;14A) with such stockholder in such
solicitation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) The board of directors may request that any Proposing Person furnish such additional information as may be reasonably
required by the board of directors. Such Proposing Person shall provide such additional information within ten (10)&nbsp;days after it has been requested by the board of directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) A Proposing Person shall update and supplement its notice to the corporation of its intent to propose business at an annual meeting, if
necessary, so that the information provided or required to be provided in such notice pursuant to this Section&nbsp;2.3 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date that is ten
(10)&nbsp;business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the secretary at the principal executive offices of the corporation not later
than five (5)&nbsp;business days after the record date for stockholders entitled to vote at the meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8)&nbsp;business days prior to
the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and
supplement required to be made as of ten (10)&nbsp;business days prior to the meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other
Section&nbsp;of these bylaws shall not limit the corporation&#146;s rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has
previously submitted notice hereunder to amend or update any proposal or to submit any new proposal, including by changing or adding matters, business or resolutions proposed to be brought before a meeting of the stockholders. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding anything in these bylaws to the contrary, no business shall be conducted at an annual meeting that is not properly brought
before the meeting in accordance with this Section&nbsp;2.3. The presiding officer of the meeting shall, if the facts warrant, determine that the business was not properly brought before the meeting in accordance with this Section&nbsp;2.3, and if
he or she should so determine, he or she shall so declare to the meeting and any such business not properly brought before the meeting shall not be transacted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) This Section&nbsp;2.3 is expressly intended to apply to any business proposed to be
brought before an annual meeting of stockholders other than any proposal made in accordance with Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> under the Exchange Act and included in the corporation&#146;s proxy statement. In addition to the
requirements of this Section&nbsp;2.3 with respect to any business proposed to be brought before an annual meeting, each Proposing Person shall comply with all applicable requirements of the Exchange Act with respect to any such business. Nothing in
this Section&nbsp;2.3 shall be deemed to affect the rights of stockholders to request inclusion of proposals in the corporation&#146;s proxy statement pursuant to Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> under the Exchange Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) For purposes of these bylaws, &#147;<U>public disclosure</U>&#148; shall mean disclosure in a press release reported by a national news
service or in a document publicly filed by the corporation with the Securities and Exchange Commission (the &#147;<U>SEC</U>&#148;) pursuant to Section&nbsp;13, 14 or 15(d) of the Exchange Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.4</B> <B>Notice of Nominations for Election to the Board of Directors</B>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Nominations of any person for election to the board of directors at an annual meeting or at a special meeting (but only if the election of
directors is a matter specified in the notice of meeting given by or at the direction of the person calling such special meeting) may be made at such meeting only (i)&nbsp;by or at the direction of the board of directors, including by any committee
or persons authorized to do so by the board of directors or these bylaws, or (ii)&nbsp;by a stockholder present in person who (A)&nbsp;was a record owner of shares of the corporation both at the time of giving the notice provided for in this
Section&nbsp;2.4 and at the time of the meeting, (B)&nbsp;is entitled to vote at the meeting, and (C)&nbsp;has complied with this Section&nbsp;2.4<B> </B>and Section&nbsp;2.5<B> </B>as to such notice and nomination. For purposes of this
Section&nbsp;2.4, &#147;present in person&#148; shall mean that the stockholder nominating any person for election to the board of directors, or a qualified representative of such stockholder, appear at such meeting. A &#147;qualified
representative&#148; of such proposing stockholder shall be a duly authorized officer, manager or partner of such stockholder or any other person authorized by a writing executed by such stockholder or an electronic transmission delivered by such
stockholder to act for such stockholder as proxy at the meeting of stockholders and such person must produce such writing or electronic transmission, or a reliable reproduction of the writing or electronic transmission, at the meeting of
stockholders. Other than as provided in Section&nbsp;2.7 below, the foregoing clause (ii)&nbsp;shall be the exclusive means for a stockholder to make any nomination of a person or persons for election to the board of directors at an annual meeting
or special meeting. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) (i) Without qualification, for a stockholder to make any nomination of a person or persons for election to the
board of directors at an annual meeting, the stockholder must (A)&nbsp;provide Timely Notice (as defined in Section&nbsp;2.3) thereof in writing and in proper form to the secretary of the corporation, (B)&nbsp;provide the information, agreements and
questionnaires with respect to such stockholder and its candidate for nomination required by this Section&nbsp;2.4 and Section&nbsp;2.5 and (C)&nbsp;provide any updates or supplements to such notice at the times and in the forms required by this
Section&nbsp;2.4<B> </B>and Section&nbsp;2.5<I>.</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Without qualification, if the election of directors is a matter specified in the
notice of meeting given by or at the direction of the person calling a special meeting, then for a stockholder to make any nomination of a person or persons for election to the board of directors at a special meeting, the stockholder must
(A)&nbsp;provide timely notice thereof in writing and in proper form to the secretary of the corporation at the principal executive offices of the corporation, (B)&nbsp;provide the information with respect to such stockholder and its candidate for
nomination required by this Section&nbsp;2.4<B> </B>and Section&nbsp;2.5 and (C)&nbsp;provide any updates or supplements to such notice at the times and in the forms required by this Section&nbsp;2.4. To be timely for purposes of this
Section&nbsp;2.4(b)(ii), a stockholder&#146;s notice for nominations to be made at a special meeting must be delivered to, or mailed and received at, the principal executive offices of the corporation not earlier than the one hundred twentieth (120<SUP
STYLE="font-size:75%; vertical-align:top">th</SUP>) day prior to such special meeting and not later than the ninetieth (90<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day prior to such special meeting or, if later, the tenth (10<SUP
STYLE="font-size:75%; vertical-align:top">th</SUP>) day following the day on which public disclosure (as defined in Section&nbsp;2.3) of the date of such special meeting was first made. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) In no event shall any adjournment or postponement of an annual meeting or special meeting or the announcement thereof commence a new
time period for the giving of a stockholder&#146;s notice as described above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) In no event may a Nominating Person (as defined below)
provide notice under this Section&nbsp;2.4 or otherwise with respect to a greater number of director candidates than are subject to election by stockholders at the applicable meeting. If the corporation shall, subsequent to such notice, increase the
number of directors subject to election at the meeting, such notice as to any additional nominees shall be due on the later of (A)&nbsp;the conclusion of the time period for Timely Notice (with respect to an annual meeting), (B) the date set forth
in Section&nbsp;2.4(b)(ii) (with respect to a special meeting) or (C)&nbsp;the tenth (10<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day following the date of public disclosure (as defined in Section&nbsp;2.3) of such increase. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) To be in proper form for purposes of this Section&nbsp;2.4, a stockholder&#146;s notice to the secretary shall set forth: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) As to each Nominating Person, the Stockholder Information (as defined in Section&nbsp;2.3(c)(i), except that for purposes of this
Section&nbsp;2.4<B> </B>the term &#147;Nominating Person&#148; shall be substituted for the term &#147;Proposing Person&#148; in all places it appears in Section&nbsp;2.3(c)(i)); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) As to each Nominating Person, any Disclosable Interests (as defined in Section&nbsp;2.3(c)(ii), except that for purposes of this
Section&nbsp;2.4 the term &#147;Nominating Person&#148; shall be substituted for the term &#147;Proposing Person&#148; in all places it appears in Section&nbsp;2.3(c)(ii) and the disclosure with respect to the business to be brought before the
meeting in Section&nbsp;2.3(c)(ii) shall be made with respect to the election of directors at the meeting); and provided that, in lieu of including the information set forth in Section&nbsp;2.3(c)(ii)(G), the Nominating Person&#146;s notice for
purposes of this Section&nbsp;2.4 shall include a representation as to whether the Nominating Person intends or is part of a group which intends to deliver a proxy statement and solicit the holders of shares representing at least 67% of the voting
power of shares entitled to vote on the election of directors in support of director nominees other than the corporation&#146;s nominees in accordance with Rule <FONT STYLE="white-space:nowrap">14a-19</FONT> promulgated under the Exchange Act; and
</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) As to each candidate whom a Nominating Person proposes to nominate for election as a
director, (A)&nbsp;all information relating to such candidate for nomination that is required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors in a
contested election pursuant to Section&nbsp;14(a) under the Exchange Act (including such candidate&#146;s written consent to being named in the proxy statement and accompanying proxy card relating to the corporation&#146;s next meeting of
shareholder at which directors are to be elected and to serving as a director for a full term if elected), (B)&nbsp;a description of any direct or indirect material interest in any material contract or agreement between or among any Nominating
Person, on the one hand, and each candidate for nomination or his or her respective associates or any other participants in such solicitation, on the other hand, including, without limitation, all information that would be required to be disclosed
pursuant to Item 404 under Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> if such Nominating Person were the &#147;registrant&#148; for purposes of such rule and the candidate for nomination were a director or executive officer of such
registrant, and (C)&nbsp;a completed and signed questionnaire, representation and agreement as provided in Section&nbsp;2.5(a) (the disclosures to be made pursuant to the foregoing clauses (A)&nbsp;through (C) are referred to as &#147;<U>Nominee
Information</U>&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;2.4, the term &#147;<U>Nominating Person</U>&#148; shall mean (i)&nbsp;the stockholder providing
the notice of the nomination proposed to be made at the meeting, (ii)&nbsp;the beneficial owner or beneficial owners, if different, on whose behalf the notice of the nomination proposed to be made at the meeting is made, and (iii)&nbsp;any
participant (as defined in paragraphs (a)(ii)-(vi) of Instruction 3 to Item 4 of Schedule&nbsp;14A) with such stockholder in such solicitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) The board of directors may request that any Nominating Person furnish such additional information as may be reasonably required by the
board of directors. Such Nominating Person shall provide such additional information within ten (10)&nbsp;days after it has been requested by the board of directors. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) A stockholder providing notice of any nomination proposed to be made at a meeting shall further update and supplement such notice, if
necessary, so that the information provided or required to be provided in such notice pursuant to this Section&nbsp;2.4 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date that is ten
(10)&nbsp;business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the secretary at the principal executive offices of the corporation not later
than five (5)&nbsp;business days after the record date for stockholders entitled to vote at the meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8)&nbsp;business days prior to
the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and
supplement required to be made as of ten (10)&nbsp;business days prior to the meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other
Section&nbsp;of these bylaws shall not limit the corporation&#146;s rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has
previously submitted notice hereunder to amend or update any nomination or to submit any new nomination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) In addition to the requirements of this Section&nbsp;2.4 with respect to any nomination
proposed to be made at a meeting, each Nominating Person shall comply with all applicable requirements of the Exchange Act with respect to any such nominations. Notwithstanding the foregoing provisions of this Section&nbsp;2.4, unless otherwise
required by law, (i)&nbsp;no Nominating Person shall solicit proxies in support of director nominees other than the corporation&#146;s nominees unless such Nominating Person has complied with Rule <FONT STYLE="white-space:nowrap">14a-19</FONT>
promulgated under the Exchange Act in connection with the solicitation of such proxies, including the provision to the corporation of notices required thereunder in a timely manner and (ii)&nbsp;if any Nominating Person (A)&nbsp;provides notice
pursuant to Rule <FONT STYLE="white-space:nowrap">14a-19(b)</FONT> promulgated under the Exchange Act and (B)&nbsp;subsequently fails to comply with the requirements of Rule <FONT STYLE="white-space:nowrap">14a-19(a)(2)</FONT> and Rule <FONT
STYLE="white-space:nowrap">14a-19(a)(3)</FONT> promulgated under the Exchange Act, including the provision to the corporation of notices required thereunder in a timely manner, or fails to timely provide reasonable evidence sufficient to satisfy the
corporation that such Nominating Person has met the requirements of Rule <FONT STYLE="white-space:nowrap">14a-19(a)(3)</FONT> promulgated under the Exchange Act in accordance with the following sentence, then the nomination of each such proposed
nominee shall be disregarded, notwithstanding that the nominee is included as a nominee in the corporation&#146;s proxy statement, notice of meeting or other proxy materials for any annual meeting (or any supplement thereto) and notwithstanding that
proxies or votes in respect of the election of such proposed nominees may have been received by the corporation (which proxies and votes shall be disregarded). If any Nominating Person provides notice pursuant to Rule
<FONT STYLE="white-space:nowrap">14a-19(b)</FONT> promulgated under the Exchange Act, such Nominating Person shall deliver to the corporation, no later than seven (7)&nbsp;business days prior to the applicable meeting, reasonable evidence that it
has met the requirements of Rule <FONT STYLE="white-space:nowrap">14a-19(a)(3)</FONT> promulgated under the Exchange Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.5</B>
<B>Additional Requirements for Valid Nomination of Candidates to Serve as Director and, if Elected, to be Seated as Directors</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) To
be eligible to be a candidate for election as a director of the corporation at an annual or special meeting, a candidate must be nominated in the manner prescribed in Section&nbsp;2.4 and the candidate for nomination, whether nominated by the board
of directors or by a stockholder of record, must have previously delivered (in accordance with the time period prescribed for delivery in a notice to such candidate given by or on behalf of the board of directors), to the secretary at the principal
executive offices of the corporation, (i)&nbsp;a completed written questionnaire (in the form provided by the corporation upon written request of any stockholder of record therefor) with respect to the background, qualifications, stock ownership and
independence of such proposed nominee, and (ii)&nbsp;a written representation and agreement (in the form provided by the corporation upon written request of any stockholder of record therefor) that such candidate for nomination (A)&nbsp;is not and,
if elected as a director during his or her term of office, will not become a party to (1)&nbsp;any agreement, arrangement or understanding with, and has not given and will not give any commitment or assurance to, any person or entity as to how such
proposed nominee, if elected as a director of the corporation, will act or vote on any issue or question (a &#147;<U>Voting Commitment</U>&#148;), or (2)&nbsp;any Voting Commitment that could limit or interfere with such proposed nominee&#146;s
ability to comply, if elected as a director of the corporation, with such proposed nominee&#146;s fiduciary duties under applicable law, (B)&nbsp;is not, and will not become a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

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party to, any agreement, arrangement or understanding with any person or entity other than the corporation with respect to any direct or indirect compensation or reimbursement for service as a
director that has not been disclosed therein or to the corporation, (C)<B></B>&nbsp;if elected as a director of the corporation, will comply with all applicable corporate governance, conflict of interest, confidentiality, stock ownership and trading
and other policies and guidelines of the corporation applicable to directors and in effect during such person&#146;s term in office as a director (and, if requested by any candidate for nomination, the secretary of the corporation shall provide to
such candidate for nomination all such policies and guidelines then in effect), and (D)&nbsp;if elected as director of the corporation, intends to serve the entire term until the next meeting at which such candidate would face <FONT
STYLE="white-space:nowrap">re-election.</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) The board of directors may also require any proposed candidate for nomination as a
director to furnish such other information as may reasonably be requested by the board of directors in writing prior to the meeting of stockholders at which such candidate&#146;s nomination is to be acted upon. Without limiting the generality of the
foregoing, the board of directors may request such other information in order for the board of directors to determine the eligibility of such candidate for nomination to be an independent director of the corporation or to comply with the director
qualification standards and additional selection criteria in accordance with the corporation&#146;s Corporate Governance Guidelines. Such other information shall be delivered to, or mailed and received by, the secretary at the principal executive
offices of the corporation (or any other office specified by the corporation in any public announcement) not later than five (5)&nbsp;business days after the request by the board of directors has been delivered to, or mailed and received by, the
Nominating Person. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) A candidate for nomination as a director shall further update and supplement the materials delivered pursuant to
this Section&nbsp;2.5, if necessary, so that the information provided or required to be provided pursuant to this Section&nbsp;2.5 shall be true and correct as of the record date for stockholders entitled to vote at the meeting and as of the date
that is ten (10)&nbsp;business days prior to the meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the secretary at the principal executive offices of the corporation
(or any other office specified by the corporation in any public disclosure (as defined in Section&nbsp;2.3)) not later than five (5)&nbsp;business days after the record date for stockholders entitled to vote at the meeting (in the case of the update
and supplement required to be made as of such record date), and not later than eight (8)&nbsp;business days prior to the date for the meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the first
practicable date prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10)&nbsp;business days prior to the meeting or any adjournment or postponement
thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other Section&nbsp;of these bylaws shall not limit the corporation&#146;s rights with respect to any deficiencies in any notice
provided by a stockholder, extend any applicable deadlines hereunder or enable or be deemed to permit a stockholder who has previously submitted notice hereunder to amend or update any nomination or to submit any new proposal, including by changing
or adding nominees, matters, business or resolutions proposed to be brought before a meeting of the stockholders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) No candidate shall be eligible for nomination as a director of the corporation unless
such candidate for nomination and the Nominating Person seeking to place such candidate&#146;s name in nomination has complied with<B> </B>Section&nbsp;2.4 and this Section&nbsp;2.5,<B> </B>as applicable. The presiding officer at the meeting shall,
if the facts warrant, determine that a nomination was not properly made in accordance with Section&nbsp;2.4 and this Section&nbsp;2.5, and if he or she should so determine, he or she shall so declare such determination to the meeting, the defective
nomination shall be disregarded and any ballots cast for the candidate in question (but in the case of any form of ballot listing other qualified nominees, only the ballots cast for the nominee in question) shall be void and of no force or effect.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything in these bylaws to the contrary, no candidate for nomination shall be eligible to be seated as a director of
the corporation unless nominated and elected in accordance with Section&nbsp;2.4 and this Section&nbsp;2.5. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.6</B> <B>Special
Meetings</B>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Special meetings of the stockholders for any purpose or purposes may be called only (i)&nbsp;by the chairman of the
board or the president, (ii)&nbsp;by the board of directors, pursuant to a resolution approved by a majority of the entire board of directors, or (iii)&nbsp;by the secretary of the corporation, following his or her receipt of one or more written
demands to call a special meeting of the stockholders in accordance with, and subject to, this Section&nbsp;2.6 from stockholders of record as of the record date fixed in accordance with Section&nbsp;2.6(e) who hold, in the aggregate, at least
twenty-five percent (25%) of the voting power of the outstanding shares of the corporation; provided that such stockholders must have continuously held, as stockholders of record, such shares of common stock of the corporation continuously for the
one (1)&nbsp;year period ending on such record date and must continue to own such shares through the conclusion of the special meeting. No other person or persons are permitted to call a special meeting. The notice of a special meeting shall state
the purpose or purposes of the special meeting, and the business to be conducted at the special meeting shall be limited to the purpose or purposes stated in the notice. Except in accordance with this Section&nbsp;2.6, stockholders shall not be
permitted to propose business to be brought before a special meeting of the stockholders. Stockholders who nominate persons for election to the board of directors at a special meeting, and any proposed candidate, must also comply with the applicable
requirements set forth in Section&nbsp;2.4 and Section&nbsp;2.5. No other person or persons are permitted to call a special meeting. The board of directors may postpone, recess, reschedule or cancel any previously scheduled special meeting of
stockholders. Only such business shall be conducted at a special meeting as shall have been brought before the meeting pursuant to the corporation&#146;s notice of meeting. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) No stockholder may demand that the secretary of the corporation call a special meeting of the stockholders pursuant to
Section&nbsp;2.6(a)&nbsp;unless a stockholder of record has first submitted a request in writing that the board of directors fix a record date ( a &#147;Demand Record Date&#148;) for the purpose of determining the stockholders entitled to demand
that the secretary of the corporation call such special meeting, which request shall be in proper form and delivered to, or mailed and received by, the secretary of the corporation at the principal executive offices of the corporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) To be in proper form for purposes of this Section&nbsp;2.6, a request by a stockholder
for the board of directors to fix a Demand Record Date shall set forth: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) As to each Requesting Person (as defined below), the
Stockholder Information (as defined in Section&nbsp;2.3(c)(i), except that for purposes of this Section&nbsp;2.6 the term &#147;Requesting Person&#148; shall be substituted for the term &#147;Proposing Person&#148; in all places it appears in
Section&nbsp;2.3(c)(i)); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) As to each Requesting Person, any Disclosable Interests (as defined in Section&nbsp;2.3(c)(ii), except
that for purposes of this Section&nbsp;2.6 the term &#147;Requesting Person&#148; shall be substituted for the term &#147;Proposing Person&#148; in all places it appears in Section&nbsp;2.3(c)(ii) and the disclosure with respect to the business to
be brought before the meeting in Section&nbsp;2.3(c)(ii) shall be made with respect to the business proposed to be conducted at the special meeting or the proposed election of directors at the special meeting, as the case may be); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) As to the purpose or purposes of the special meeting, (A)&nbsp;a brief description of the purpose or purposes of the special meeting
and the business proposed to be conducted at the special meeting, the reasons for conducting such business at the special meeting and any material interest in such business of each Requesting Person, (B)&nbsp;the text of the proposal or business
(including the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend the bylaws, the language of the proposed amendment), (C)&nbsp;a reasonably detailed description of all agreements,
arrangements and understandings (1)&nbsp;between or among any of the Requesting Persons, or (2)&nbsp;between or among any Requesting Person and any other person or entity (including their names) in connection with the request for the special meeting
or the business proposed to be conducted at the special meeting and (D)&nbsp;any other information relating to the request for the special meeting or such item of business that would be required to be disclosed in a proxy statement or other filing
required to be made in connection with solicitations of proxies in support of the business proposed to be brought before the meeting pursuant to Section&nbsp;14(a) of the Exchange Act; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) If directors are proposed to be elected at the special meeting, the Nominee Information for each person whom a Requesting Person expects
to nominate for election as a director at the special meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;2.6(c), the term &#147;Requesting Person&#148; shall
mean (i)&nbsp;the stockholder making the request to fix a Demand Record Date for the purpose of determining the stockholders entitled to demand that the secretary call a special meeting, (ii)&nbsp;the beneficial owner or beneficial owners, if
different, on whose behalf such request is made, and (iii)&nbsp;any affiliate of such stockholder or beneficial owner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) The board of
directors may request that any Requesting Person furnish such additional information as may be reasonably required by the board of directors. Such Requesting Person shall provide such additional information within ten (10)&nbsp;days after it has
been requested by the board of directors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) Within ten (10)&nbsp;days after receipt of a request to fix a Demand Record Date in
proper form and otherwise in compliance with this Section&nbsp;2.6 from any stockholder of record, the board of directors may adopt a resolution fixing a Demand Record Date for the purpose of determining the stockholders entitled to demand that the
secretary of the corporation call a special meeting, which date shall not precede the date upon which the resolution fixing the Demand Record Date is adopted by the board of directors. If no resolution fixing a Demand Record Date has been adopted by
the board of directors within the ten (10)&nbsp;day period after the date on which such a request to fix a Demand Record Date was received, the Demand Record Date in respect thereof shall be deemed to be the twentieth (20<SUP
STYLE="font-size:75%; vertical-align:top">th</SUP>) day after the date on which such a request is received, or the next business day thereafter, if such date shall fall on a Saturday, Sunday, or holiday observed by any stock exchange on which the
corporation&#146;s common stock is traded. Notwithstanding anything in this Section&nbsp;2.6 to the contrary, no Demand Record Date shall be fixed if the board of directors determines that the demand or demands that would otherwise be submitted
following such Demand Record Date could not comply with the requirements set forth in clauses (ii), (iv), (v) or (vi)&nbsp;of Section&nbsp;2.6(g). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(f) Without qualification, a special meeting of the stockholders shall not be called pursuant to Section&nbsp;2.6(a) unless stockholders of
record as of the Demand Record Date who hold, in the aggregate, more than twenty-five percent (25%) of the voting power of the outstanding shares of the corporation (the &#147;Requisite Percentage&#148;) timely provide one or more demands to call
such special meeting in writing and in proper form to the secretary of the corporation at the principal executive offices of the corporation. Only stockholders of record on the Demand Record Date shall be entitled to demand that the secretary of the
corporation call a special meeting of the stockholders pursuant to Section&nbsp;2.6(a). To be timely, a stockholder&#146;s demand to call a special meeting must be delivered to, or mailed and received at, the principal executive offices of the
corporation not later than the sixtieth (60<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day following the Demand Record Date. To be in proper form for purposes of this Section&nbsp;2.6, a demand to call a special meeting shall set forth
(i)&nbsp;the business proposed to be conducted at the special meeting or the proposed election of directors at the special meeting, as the case may be, (ii)&nbsp;the text of the proposal or business (including the text of any resolutions proposed
for consideration and in the event that such business includes a proposal to amend the bylaws, the language of the proposed amendment), if applicable, and (iii)&nbsp;with respect to any stockholder or stockholders submitting a demand to call a
special meeting (except for any stockholder that has provided such demand in response to a solicitation made pursuant to, and in accordance with, Section&nbsp;14(a) of the Exchange Act by way of a solicitation statement filed on Schedule&nbsp;14A (a
&#147;Solicited Stockholder&#148;)) the information required to be provided pursuant to this Section&nbsp;2.6 of a Requesting Person. A stockholder may revoke a demand to call a special meeting by written revocation delivered to the secretary at any
time prior to the special meeting. If any such revocation(s) are received by the secretary after the secretary&#146;s receipt of written demands from the holders of the Requisite Percentage of stockholders, and as a result of such revocation(s),
there no longer are unrevoked demands from the Requisite Percentage of stockholders to call a special meeting, the board of directors shall have the discretion to determine whether or not to proceed with the special meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(g) The secretary shall not accept, and shall consider ineffective, a written demand from a stockholder to call a special meeting
(i)&nbsp;that does not comply with this Section&nbsp;2.6, (ii)&nbsp;that relates to an item of business to be transacted at such meeting that is not a proper subject for stockholder action under applicable law, (iii)&nbsp;that includes an item of
business to be transacted at such meeting that did not appear on the written request that resulted in the </P>
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determination of the Demand Record Date, (iv)&nbsp;that relates to an item of business that is identical or substantially similar to an item of business (a &#147;Similar Item&#148;) considered at
an annual or special meeting held during the <FONT STYLE="white-space:nowrap">180-day</FONT> period ending on the date of delivery of the special meeting request, (v)&nbsp;if a Similar Item will be submitted for stockholder approval at any
stockholder meeting to be held on or before the ninetieth (90<SUP STYLE="font-size:75%; vertical-align:top">th</SUP>) day after the secretary receives such demand, or (vi)&nbsp;if a Similar Item has been presented at the most recent annual meeting
or at any special meeting held within one year prior to receipt by the secretary of such demand to call a special meeting. For purposes of Section&nbsp;2.6 (g)(iv), the election of directors shall be considered a similar item to any item of business
involving the election or removal of directors or change in the size of the board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(h) After receipt of demands in proper
form and in accordance with this Section&nbsp;2.6 from a stockholder or stockholders holding the Requisite Percentage, the board of directors shall duly call, and determine the place, date and time of, a special meeting of stockholders for the
purpose or purposes and to conduct the business specified in the demands received by the Corporation. Notwithstanding anything in these bylaws to the contrary, the board of directors may submit its own proposal or proposals for consideration at such
a special meeting. The record date for notice and voting for such a special meeting shall be fixed in accordance with Section&nbsp;2.16 of these bylaws. The board of directors shall provide written notice of such special meeting to the stockholders
in accordance with Section&nbsp;2.16. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i) In connection with a special meeting called in accordance with this Section&nbsp;2.6, the
stockholder or stockholders (except for any Solicited Stockholder) who requested that the board of directors fix a record date for notice and voting for the special meeting in accordance with this Section&nbsp;2.6 or who delivered a demand to call a
special meeting to the secretary shall further update and supplement the information previously provided to the corporation in connection with such request or demand, if necessary, so that the information provided or required to be provided in such
request or demand pursuant to this Section&nbsp;2.6 shall be true and correct as of the record date for stockholders entitled to vote at the special meeting and as of the date that is ten (10)&nbsp;business days prior to the special meeting or any
adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the secretary at the principal executive offices of the corporation not later than five (5)&nbsp;business days after the record
date for stockholders entitled to vote at the special meeting (in the case of the update and supplement required to be made as of such record date), and not later than eight (8)&nbsp;business days prior to the date for the special meeting or, if
practicable, any adjournment or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the special meeting has been adjourned or postponed) (in the case of the update and supplement required to be
made as of ten (10)&nbsp;business days prior to the special meeting or any adjournment or postponement thereof). For the avoidance of doubt, the obligation to update and supplement as set forth in this paragraph or any other Section&nbsp;of these
bylaws shall not (A)&nbsp;limit the corporation&#146;s rights with respect to any deficiencies in any request or demand provided by a stockholder, (B)&nbsp;extend any applicable deadlines hereunder or (C)&nbsp;enable or be deemed to permit a
stockholder who has previously submitted a request or demand hereunder to amend or update any such request or demand, including by changing or adding nominees, matters, business or resolutions proposed to be brought before a meeting of the
stockholders. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(j) Notwithstanding anything in these bylaws to the contrary, the secretary shall not be
required to call a special meeting pursuant to this Section&nbsp;2.6 except in accordance with this Section&nbsp;2.6. If the board of directors shall determine that any request to fix a record date for notice and voting for the special meeting or
demand to call and hold a special meeting was not properly made in accordance with this Section&nbsp;2.6, or shall determine that the stockholder or stockholders requesting that the board of directors fix such record date or submitting a demand to
call the special meeting have not otherwise complied with this Section&nbsp;2.6, then the board of directors shall not be required to fix such record date or to call and hold the special meeting. In addition to the requirements of this
Section&nbsp;2.6, each Requesting Person shall comply with all requirements of applicable law, including all requirements of the Exchange Act, with respect to any request to fix a record date for notice and voting for the special meeting or demand
to call a special meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.7</B> <B>Proxy Access</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Notwithstanding the provisions of Sections&nbsp;2.4 and 2.5, but subject to the provisions of this Section&nbsp;2.7, if any Eligible
Stockholder (as defined below) or group of up to twenty (20)&nbsp;Eligible Stockholders submits to the corporation a Proxy Access Notice (as defined below) that complies with this Section&nbsp;2.7 and such Eligible Stockholder or group of Eligible
Stockholders otherwise satisfies all the terms and conditions of this Section&nbsp;2.7 (such Eligible Stockholder or group of Eligible Stockholders, a &#147;<U>Nominating Stockholder</U>&#148;), the corporation shall include in its proxy statement
or on its form of proxy and ballot, as applicable (collectively, &#147;<U>proxy materials</U>&#148;), for any annual meeting of stockholders, in addition to any persons nominated for election by the board of directors or any committee thereof: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the name of any person or persons nominated by such Nominating Stockholder for election to the board of directors at such annual meeting
of stockholders who meets the requirements of this Section&nbsp;2.7 (a &#147;<U>Nominee</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) disclosure about the Nominee
and the Nominating Stockholder required under the rules of the SEC or other applicable law to be included in the proxy materials; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)
subject to the other applicable provisions of this Section&nbsp;2.7, a written statement, not to exceed 500 words, that is not contrary to any of the SEC&#146;s proxy rules, including Rule <FONT STYLE="white-space:nowrap">14a-9</FONT> under the
Exchange Act (a &#147;<U>Supporting Statement</U>&#148;), included by the Nominating Stockholder in the Proxy Access Notice intended for inclusion in the proxy materials in support of the Nominee&#146;s election to the board of directors; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) any other information that the corporation or the board of directors determines, in its discretion, to include in the proxy materials
relating to the nomination of the Nominee, including, without limitation, any statement in opposition to the nomination and any of the information provided pursuant to this Section&nbsp;2.7. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) (i) The corporation shall not be required to include in the proxy materials for an
annual meeting of stockholders more Nominees than that number of directors constituting 20% of the total number of directors of the corporation on the last day on which a Proxy Access Notice may be submitted pursuant to this Section&nbsp;2.7
(rounded down to the nearest whole number, but not less than two (2)) (the &#147;<U>Maximum Number</U>&#148;). The Maximum Number for a particular annual meeting shall be reduced by: (A)&nbsp;the number of Nominees who are subsequently withdrawn or
that the board of directors itself decides to nominate for election at such annual meeting of stockholders (including, without limitation, any person who is or will be nominated by the board of directors pursuant to any agreement or understanding
with one or more stockholders to avoid such person being formally proposed as a Nominee), and (B)&nbsp;the number of incumbent directors who had been Nominees with respect to any of the preceding two<SUP STYLE="font-size:75%; vertical-align:top">
</SUP>(2)&nbsp;annual meetings of stockholders and whose reelection at the upcoming annual meeting of stockholders is being recommended by the board of directors (including, without limitation, any person who was nominated by the board of directors
pursuant to any agreement or understanding with one or more stockholders to avoid such person being formally proposed as a Nominee). In the event that one or more vacancies for any reason occurs on the board of directors after the deadline set forth
in Section&nbsp;2.7(d) but before the date of the annual meeting of stockholders, and the board of directors resolves to reduce the size of the board of directors in connection therewith, the Maximum Number shall be calculated based on the number of
directors as so reduced. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Any Nominating Stockholder submitting more than one Nominee for inclusion in the corporation&#146;s proxy
materials shall rank such Nominees based on the order that the Nominating Stockholder desires such Nominees to be selected for inclusion in the corporation&#146;s proxy materials in the event that the total number of Nominees submitted by Nominating
Stockholders exceeds the Maximum Number. In the event that the number of Nominees submitted by Nominating Stockholders exceeds the Maximum Number, the highest ranking Nominee from each Nominating Stockholder will be included in the
corporation&#146;s proxy materials until the Maximum Number is reached, going in order from largest to smallest of the number of shares of common stock of the corporation owned by each Nominating Stockholder as disclosed in each Nominating
Stockholder&#146;s Proxy Access Notice. If the Maximum Number is not reached after the highest ranking Nominee of each Nominating Stockholder has been selected, this process will be repeated as many times as necessary until the Maximum Number is
reached. If, after the deadline for submitting a Proxy Access Notice as set forth in Section&nbsp;2.7(d), a Nominating Stockholder ceases to satisfy the requirements of this Section&nbsp;2.7 or withdraws its nomination or a Nominee ceases to satisfy
the requirements of this Section&nbsp;2.7 or becomes unwilling or unable to serve on the board of directors, whether before or after the mailing of definitive proxy materials, then the nomination shall be disregarded, and the corporation:
(A)&nbsp;shall not be required to include in its proxy materials the disregarded Nominee and (B)&nbsp;may otherwise communicate to its stockholders, including without limitation by amending or supplementing its proxy materials, that the Nominee will
not be included as a Nominee in the proxy materials and the election of such Nominee will not be voted on at the annual meeting of stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) (i) An &#147;<U>Eligible Stockholder</U>&#148; is a person who has either (A)&nbsp;been a record holder of the shares of common stock used
to satisfy the eligibility requirements in this Section&nbsp;2.7(c) continuously for the three-year period specified in subsection&nbsp;(ii) below or (B)&nbsp;provides to the secretary of the corporation, within the time period referred to in
Section&nbsp;2.7(d), evidence of continuous ownership of such shares for such three-year period from one or more securities intermediaries in a form that satisfies the requirements as established by the SEC for a stockholder proposal under Rule <FONT
STYLE="white-space:nowrap">14a-8</FONT> under the Exchange Act. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) An Eligible Stockholder or group of up to twenty (20)&nbsp;Eligible Stockholders may
submit a nomination in accordance with this Section&nbsp;2.7 only if the person or each member of the group, as applicable, has continuously owned at least the Minimum Number (as defined below) of shares of the corporation&#146;s outstanding common
stock throughout the three-year period preceding and including the date of submission of the Proxy Access Notice, and continues to own at least the Minimum Number through the date of the annual meeting of stockholders. Two (2)&nbsp;or more funds
that are (A)&nbsp;under common management and investment control, (B)&nbsp;under common management and funded primarily by a single employer or (C)&nbsp;a &#147;group of investment companies,&#148; as such term is defined in
Section&nbsp;12(d)(1)(G)(ii) of the Investment Company Act of 1940, as amended (two (2)&nbsp;or more funds referred to under any of clause (A), (B) or (C), collectively a &#147;<U>Qualifying Fund</U>&#148;) shall be treated as one Eligible
Stockholder. For the avoidance of doubt, in the event of a nomination by a group of Eligible Stockholders, any and all requirements and obligations for an individual Eligible Stockholder that are set forth in this Section&nbsp;2.7, including the
minimum holding period, shall apply to each member of such group; <U>provided</U>, <U>however</U>, that the Minimum Number shall apply to the ownership of the group in the aggregate. Should any stockholder withdraw from a group of Eligible
Stockholders at any time prior to the annual meeting of stockholders, the group of Eligible Stockholders shall only be deemed to own the shares held by the remaining members of the group. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) The &#147;<U>Minimum Number</U>&#148; of shares of the corporation&#146;s common stock means three percent (3%) of the number of
outstanding shares of common stock as of the most recent date for which such amount is given in any filing by the corporation with the SEC prior to the submission of the Proxy Access Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) For purposes of this Section&nbsp;2.7, an Eligible Stockholder &#147;owns&#148; only those outstanding shares of the common stock of the
corporation as to which the Eligible Stockholder possesses both: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(A) the full voting and investment rights pertaining to
the shares; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(B) the full economic interest in (including the opportunity for profit and risk of loss on) such shares;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, that the number of shares calculated in accordance with clauses (A)&nbsp;and (B) shall not include any shares: (1)&nbsp;sold by such
Eligible Stockholder or any of its affiliates in any transaction that has not been settled or closed, (2)&nbsp;borrowed by such Eligible Stockholder or any of its affiliates for any purpose or purchased by such Eligible Stockholder or any of its
affiliates pursuant to an agreement to resell, or (3)&nbsp;subject to any option, warrant, forward contract, swap, contract of sale, other derivative or similar agreement entered into by such Eligible Stockholder or any of its affiliates, whether
any such instrument or agreement is to be settled with shares, cash or other property based on the notional amount or value of outstanding shares of the corporation, in any such case which instrument or agreement has, or is intended to have, the
purpose or effect of: (w)&nbsp;reducing in any manner, to any extent or at any time in the future, such Eligible Stockholder&#146;s or any of its affiliates&#146; full right to vote or direct the voting of any such shares, and/or (x)&nbsp;hedging,
offsetting, or altering to any degree, gain or loss arising from the full </P>
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economic ownership of such shares by such Eligible Stockholder or any of its affiliates. An Eligible Stockholder &#147;owns&#148; shares held in the name of a nominee or other intermediary so
long as the Eligible Stockholder retains the right to instruct how the shares are voted with respect to the election of directors and possesses the full economic interest in the shares. An Eligible Stockholder&#146;s ownership of shares shall be
deemed to continue during any period in which the Eligible Stockholder has delegated any voting power by means of a proxy, power of attorney, or other similar instrument or arrangement that is revocable at any time by the Eligible Stockholder. An
Eligible Stockholder&#146;s ownership of shares shall be deemed to continue during any period in which the Eligible Stockholder has loaned such shares; <U>provided</U> that the Eligible Stockholder has the power to recall such loaned shares on no
more than five (5)&nbsp;business days&#146; notice and includes in the Proxy Access Notice an agreement that it will (y)&nbsp;promptly recall such loaned shares upon being notified that any of its Nominees will be included in the corporation&#146;s
proxy materials pursuant to this Section&nbsp;2.7 and (z)&nbsp;continue to hold such recalled shares (including the right to vote such shares) through the date of the annual meeting of stockholders. The terms &#147;owned,&#148; &#147;owning&#148;
and other variations of the word &#147;own&#148; shall have correlative meanings. Each Nominating Stockholder shall furnish any other information that may reasonably be required by the board of directors to verify such stockholder&#146;s continuous
ownership of at least the Minimum Number during the three-year period referred to above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) To nominate a Nominee, the Nominating
Stockholder must, no earlier than one hundred fifty (150)&nbsp;days and no later than one hundred twenty (120)&nbsp;days before the date of the corporation&#146;s proxy materials released to stockholders in connection with the previous year&#146;s
annual meeting of stockholders, submit to the secretary of the corporation at the principal executive offices of the corporation all of the following information and documents (collectively, the &#147;<U>Proxy Access Notice</U>&#148;): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) A Schedule&nbsp;14N (or any successor form) relating to the Nominee, completed and filed with the SEC by the Nominating Stockholder as
applicable, in accordance with the SEC&#146;s rules; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) A written notice of the nomination of such Nominee that includes the following
additional information, agreements, representations and warranties by the Nominating Stockholder (including each group member): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(A) the information, representations and agreements required with respect to the nomination of directors pursuant to
Sections&nbsp;2.4 and 2.5; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(B) the details of any relationship that existed within the past three (3)&nbsp;years and that
would have been described pursuant to Item 6(e) of Schedule&nbsp;14N (or any successor item) if it existed on the date of submission of the Schedule&nbsp;14N; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(C) a representation and warranty that the Nominating Stockholder did not acquire, and is not holding, securities of the
corporation for the purpose or with the effect of influencing or changing control of the corporation; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(D) a representation and warranty that the Nominee&#146;s candidacy or, if
elected, board of directors membership, would not violate the certificate of incorporation, these bylaws, or any applicable state or federal law or the rules of any stock exchange on which the corporation&#146;s common stock is traded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(E) a representation and warranty that the Nominee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(1) does not have any direct or indirect material relationship with the corporation and otherwise would qualify as an
&#147;independent director&#148; under the rules of the primary stock exchange on which the corporation&#146;s common stock is traded and any applicable rules of the SEC; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(2) would meet the audit committee independence requirements under the rules of the SEC and of the principal stock exchange on
which the corporation&#146;s common stock is traded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(3) would qualify as a
<FONT STYLE="white-space:nowrap">&#147;non-employee</FONT> director&#148; for the purposes of Rule <FONT STYLE="white-space:nowrap">16b-3</FONT> under the Exchange Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(4) would qualify as an &#147;outside director&#148; for the purposes of Section&nbsp;162(m) of the Internal Revenue Code of
1986, as amended (or any successor provision); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(5) is not and has not been, within the past three (3)&nbsp;years, an
officer, director, affiliate or representative of a competitor, as defined under Section&nbsp;8 of the Clayton Antitrust Act of 1914, as amended, and if the Nominee has held any such position during this period, details thereof; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(6) is not and has not been subject to any event specified in Rule 506(d)(1) of Regulation D (or any successor rule) under the
Securities Act of 1933, as amended, or Item 401(f) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> (or any successor rule) under the Exchange Act, without reference to whether the event is material to an evaluation of the ability or
integrity of the Nominee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(F) a representation and warranty that the Nominating Stockholder satisfies the eligibility
requirements set forth in Section&nbsp;2.7(c), has provided evidence of ownership to the extent required by Section&nbsp;2.7(c)(i), and such evidence of ownership is true, complete and correct in all material respects; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(G) a representation and warranty that the Nominating Stockholder intends to continue to satisfy the eligibility requirements
described in Section&nbsp;2.7(c) through the date of the annual meeting of stockholders; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(H) a representation and warranty that the Nominating Stockholder will not
engage in or support, directly or indirectly, a &#147;solicitation&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">14a-1(l)</FONT> (without reference to the exception in
<FONT STYLE="white-space:nowrap">Section&nbsp;14a-1(l)(2)(iv))</FONT> (or any successor rules) with respect to the annual meeting of stockholders, other than a solicitation in support of the Nominee or any nominee of the board of directors; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(I) a representation and warranty that the Nominating Stockholder will not use any proxy card other than the corporation&#146;s
proxy card in soliciting stockholders in connection with the election of a Nominee at the annual meeting of stockholders; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(J) if desired by the Nominating Stockholder, a Supporting Statement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(K) in the case of a nomination by a group, the designation by all group members of one group member that is authorized to act
on behalf of all group members with respect to matters relating to the nomination, including withdrawal of the nomination; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(L) in the case of any Eligible Stockholder that is a Qualifying Fund consisting of two (2)&nbsp;or more funds, documentation
demonstrating that the funds are eligible to be treated as a Qualifying Fund and that each such fund comprising the Qualifying Fund otherwise meets the requirements set forth in this Section&nbsp;2.7; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(M) a representation and warranty that the Nominating Stockholder has not nominated and will not nominate for election any
individual as director at the annual meeting of stockholders other than its Nominee(s). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) An executed agreement pursuant to which
the Nominating Stockholder (including each group member) agrees: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(A) to comply with all applicable laws, rules and
regulations in connection with the nomination, solicitation and election; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(B) to file with the SEC any solicitation or
other communication with the corporation&#146;s stockholders relating to any Nominee or one or more of the corporation&#146;s directors or director nominees, regardless of whether any such filing is required under any law, rule or regulation or
whether any exemption from filing is available for such materials under any law, rule or regulation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(C) to assume all
liability stemming from an action, suit or proceeding concerning any actual or alleged legal or regulatory violation arising out of any communication by the Nominating Stockholder with the corporation, its stockholders or any other person in
connection with the nomination or election of directors, including, without limitation, the Proxy Access Notice; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(D) to indemnify and hold harmless (jointly and severally with all other
group members, in the case of a group member) the corporation and each of its directors, officers and employees individually against any liability, loss, damages, expenses, demands, claims or other costs (including reasonable attorneys&#146; fees
and disbursements of counsel) incurred in connection with any threatened or pending action, suit or proceeding, whether legal, administrative or investigative, against the corporation or any of its directors, officers or employees arising out of any
nomination submitted by the Nominating Stockholder (including, without limitation, relating to any breach or alleged breach of its obligations, agreements, representations or warranties) pursuant to this Section&nbsp;2.7; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(E) in the event that (i)&nbsp;any information included in the Proxy Access Notice, or any other communication by the
Nominating Stockholder (including with respect to any group member) with the corporation, its stockholders or any other person in connection with the nomination or election of directors ceases to be true and accurate in all material respects (or
omits a material fact necessary to make the statements made not misleading), or (ii)&nbsp;the Nominating Stockholder (including any group member) fails to continue to satisfy the eligibility requirements described in Section&nbsp;2.7(c), the
Nominating Stockholder shall promptly (and in any event within forty-eight (48)&nbsp;hours of discovering such misstatement, omission or failure)&nbsp;(x) in the case of clause (i)&nbsp;above, notify the corporation and any other recipient of such
communication of the misstatement or omission in such previously provided information and of the information that is required to correct the misstatement or omission, and (y)&nbsp;in the case of clause (ii)&nbsp;above, notify the corporation why,
and in what regard, the Nominating Stockholder fails to comply with the eligibility requirements described in Section&nbsp;2.7(c) (it being understood that providing any such notification referenced in clauses (x)&nbsp;and (y) above shall not be
deemed to cure any defect or limit the corporation&#146;s rights to omit a Nominee from its proxy materials as provided in this Section&nbsp;2.7); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) An executed agreement by the Nominee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(A) to provide to the corporation a completed copy of the corporation&#146;s director questionnaire and such other information
as the corporation may reasonably request; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(B) that the Nominee (i)&nbsp;consents to be named in the proxy materials as a
nominee and, if elected, to serve on the board of directors and (ii)&nbsp;has read and agrees to adhere to the corporation&#146;s Corporate Governance Guidelines and any other corporation policies and guidelines applicable to directors generally;
and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(C) that the Nominee is not and will not become a party to (1)&nbsp;any
agreement, arrangement or understanding with any person or entity other than the corporation with respect to direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director of the corporation that
has not been disclosed to the corporation in writing, (2)&nbsp;any Voting Commitment that has not been disclosed to the corporation in writing, or (3)&nbsp;any Voting Commitment that could limit or interfere with the Nominee&#146;s ability to
comply, if elected as a director of the corporation, with its fiduciary duties under applicable law or with the corporation&#146;s Corporate Governance Guidelines and any other corporation policies and guidelines applicable to directors generally.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information and documents required by this Section&nbsp;2.7(d) shall be: (x)&nbsp;provided with respect to and executed by each group member, in the
case of information applicable to group members; and (y)&nbsp;provided with respect to the persons specified in Instruction 1 to Items 6(c) and (d)&nbsp;of Schedule&nbsp;14N (or any successor item) if and to the extent applicable to a Nominating
Stockholder or group member. The Proxy Access Notice shall be deemed submitted on the date on which all the information and documents referred to in this Section&nbsp;2.7(d) (other than such information and documents contemplated to be provided
after the date the Proxy Access Notice is provided) have been delivered to or, if sent by mail, received by the secretary of the corporation. For the avoidance of doubt, in no event shall any adjournment or postponement of an annual meeting of
stockholders or the public announcement thereof commence a new time period for the giving of a Proxy Access Notice pursuant to this Section&nbsp;2.7. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) (i) Notwithstanding anything to the contrary contained in this Section&nbsp;2.7, (x) the corporation may omit from its proxy materials any
Nominee and any information concerning such Nominee (including a Nominating Stockholder&#146;s Supporting Statement), (y) any nomination shall be disregarded, and (z)&nbsp;no vote on such Nominee will occur (notwithstanding that proxies in respect
of such vote may have been received by the corporation), and the Nominating Stockholder may not, after the last day on which a Proxy Access Notice would be timely, cure in any way any defect preventing the nomination of the Nominee, if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(A) the corporation receives a notice pursuant to Section&nbsp;2.4 that a stockholder intends to nominate a candidate for
director at the annual meeting of stockholders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(B) the Nominating Stockholder or the designated lead group member, as
applicable, or any qualified representative thereof, does not appear at the annual meeting of stockholders to present the nomination submitted pursuant to this Section&nbsp;2.7 or the Nominating Stockholder withdraws its nomination prior to the
annual meeting of stockholders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(C) the board of directors determines that such Nominee&#146;s nomination or election to
the board of directors would result in the corporation violating or failing to be in compliance with the certificate of incorporation, these bylaws or any applicable law, rule or regulation to which the corporation is subject, including any rules or
regulations of any stock exchange on which the corporation&#146;s common stock is traded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(D) the Nominee was nominated for election to the board of directors
pursuant to this Section&nbsp;2.7 at one of the corporation&#146;s two (2)&nbsp;preceding annual meetings of stockholders and (i)&nbsp;its nomination was withdrawn or (ii)&nbsp;such Nominee became ineligible to serve as a Nominee or as a director;
or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:9%; font-size:10pt; font-family:Times New Roman">(E) (i) the Nominating Stockholder fails to continue to satisfy the eligibility requirements described in
Section&nbsp;2.7(c), (ii) any of the representations and warranties made in the Proxy Access Notice ceases to be true, complete and correct in all material respects (or omits to state a material fact necessary to make the statements made therein not
misleading), (iii) the Nominee becomes unwilling or unable to serve on the board of directors or (iv)&nbsp;the Nominating Stockholder or the Nominee materially violates or breaches any of its agreements, representations or warranties in this
Section&nbsp;2.7; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Notwithstanding anything to the contrary contained in this Section&nbsp;2.7, the corporation may omit from its
proxy materials, or may supplement or correct, any information, including all or any portion of the Supporting Statement included in the Proxy Access Notice, if: (A)&nbsp;such information is not true and correct in all material respects or omits a
material statement necessary to make the statements therein not misleading; (B)&nbsp;such information directly or indirectly impugns the character, integrity or personal reputation of, or, without factual foundation, directly or indirectly makes
charges concerning improper, illegal or immoral conduct or associations with respect to, any person; or (C)&nbsp;the inclusion of such information in the proxy materials would otherwise violate the SEC&#146;s proxy rules or any other applicable law,
rule or regulation. Once submitted with a Proxy Access Notice, a Supporting Statement may not be amended, supplemented or modified by the Nominee or Nominating Stockholder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) For the avoidance of doubt, the corporation may solicit against, and include in the proxy materials its own statement relating to, any
Nominee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) This Section&nbsp;2.7 provides the exclusive method for a stockholder to include nominees for election to the board of
directors in the corporation&#146;s proxy materials (including, without limitation, any proxy card or written ballot). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) The
interpretation of, and compliance with, any provision of this Section&nbsp;2.7, including the representations, warranties and covenants contained herein, shall be determined by the board of directors or, in the discretion of the board of directors,
one or more of its designees, in each case acting in good faith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.8</B> <B>Notice of Stockholders</B><B>&#146;</B><B> Meetings</B>.
All notices of meetings of stockholders shall be sent or otherwise given in accordance with Section&nbsp;2.10 of these bylaws not less than ten (10)&nbsp;nor more than sixty (60)&nbsp;days before the date of the meeting. The notice shall specify the
place, date, and hour of the meeting and the means of remote communication, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such meeting, and (i)&nbsp;in the case of a special meeting, the purpose or
purposes for which the meeting is called (no business other than that specified in the notice may be transacted) or (ii)&nbsp;in the case of the annual meeting, those matters which the board of directors, at the time of giving the notice, intends to
present for action by the stockholders (but any proper matter may be presented at the meeting for such action). The notice of any meeting at which directors are to be elected shall include the name of any nominee or nominees who, at the time of the
notice, the board intends to present for election. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.9</B> <B>Conduct of Meeting</B>. The board of directors may adopt by resolution such
rules and regulations for the conduct of the meeting of stockholders as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the board, the chairman of any meeting of stockholders shall have the
right and authority to prescribe such rules, regulations and procedures and to do all such acts as, in the judgment of such chairman, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by
the board or prescribed by the chairman of the meeting, may include, without limitation, the following: (i)&nbsp;the establishment of an agenda or order of business for the meeting; (ii)&nbsp;rules and procedures for maintaining order at the meeting
and the safety of those present; (iii)&nbsp;limitations on attendance at or participation in the meeting to stockholders of record of the corporation, their duly authorized and constituted proxies or such other persons as the chairman of the meeting
shall determine; (iv)&nbsp;restrictions on entry to the meeting after the time fixed for the commencement thereof; and (v)&nbsp;limitations on the time allotted to questions or comments by participants. Unless and to the extent determined by the
board or the chairman of the meeting, meetings of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.10</B> <B>Manner of Giving Notice; Affidavit of Notice</B>. Notice of any meeting of stockholders shall be given either personally or by
mail or by electronic transmission in accordance with Section&nbsp;232 of the General Corporation Law of Delaware or other written communication. Notices not personally delivered, or sent by electronic transmission, shall be sent charges prepaid and
shall be addressed to the stockholder at the address of that stockholder appearing on the books of the corporation or given by the stockholder to the corporation for the purpose of notice. Notice shall be deemed to have been given at the time when
delivered personally or deposited in the mail or sent by electronic transmission or other means of written communication. Notice by electronic transmission shall be deemed given as provided in Section&nbsp;232 of the General Corporation Law of
Delaware; provided that any notice by electronic transmission will include a prominent legend that the communication is an important notice regarding the corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An affidavit of the mailing or other means of giving any notice of any stockholders&#146; meeting, executed by the secretary, assistant
secretary or any transfer agent of the corporation giving the notice, shall be prima facie evidence of the giving of such notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For
purposes of these bylaws, &#147;<U>electronic transmission</U>&#148; means any form of communication, not directly involving the physical transmission of paper, that creates a record that may be retained, retrieved, and reviewed by a recipient
thereof, and that may be directly reproduced in paper form by such a recipient through an automated process. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.11</B> <B>Quorum</B>.
The holders of a majority in voting power of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business
except as otherwise provided by statute or by the certificate of incorporation. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">When a quorum is present at any meeting, the vote of the holders of a majority of the stock
having voting power present in person or represented by proxy shall decide any question brought before such meeting, unless the question is one upon which, by express provision of the laws of the State of Delaware or of the certificate of
incorporation or these bylaws, a different vote is required, in which case such express provision shall govern and control the decision of the question. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If a quorum be initially present, the stockholders may continue to transact business until adjournment, notwithstanding the withdrawal of
enough stockholders to leave less than a quorum, if any action taken is approved by a majority of the stockholders initially constituting the quorum. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.12</B> <B>Adjourned Meeting; Notice</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Any meeting of stockholders, annual or special, may be adjourned from time to time to any other time and to any other place at which a
meeting of stockholders may be held under these bylaws by the board of directors, the chairman of the meeting or, if directed to be voted on by the chairman of the meeting, by the stockholders present or represented at the meeting and entitled to
vote thereon, although less than a quorum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) When a meeting is adjourned to another time and place, unless these bylaws otherwise
require, notice need not be given of the adjourned meeting if the time and place thereof, if any, and the means of remote communications, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such adjourned
meeting are announced at the meeting at which the adjournment is taken, or are provided in any other manner permitted by the General Corporation Law of Delaware. At the adjourned meeting the corporation may transact any business that might have been
transacted at the original meeting. If the adjournment is for more than thirty (30)&nbsp;days, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of
record entitled to vote at the meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.13</B> <B>Voting</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The stockholders entitled to vote at any meeting of stockholders shall be determined in accordance with the provisions of
Section&nbsp;2.16 of these bylaws, subject to the provisions of Sections&nbsp;217 and 218 of the General Corporation Law of Delaware (relating to voting rights of fiduciaries, pledgors and joint owners, and to voting trusts and other voting
agreements). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Except as may be otherwise provided in the certificate of incorporation or these bylaws, each stockholder shall be
entitled to one vote for each share of capital stock held by such stockholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) At all duly called or convened meetings of
stockholders, at which a quorum is present, a nominee for director shall be elected to the board of directors if the votes cast for such nominee&#146;s election exceed the votes cast against such nominee&#146;s election (with abstentions and
&#147;broker <FONT STYLE="white-space:nowrap">non-votes&#148;</FONT> not counted as a vote cast either for or against that nominee&#146;s election); provided, however, that a plurality of the votes cast shall be sufficient to elect a
</P>
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director at any duly called or convened meeting of stockholders, at which a quorum is present, if the secretary of the corporation determines that the number of nominees exceeds the number of
directors to be elected as of the record date for such meeting. If directors are to be elected by a plurality of the votes cast, stockholders shall not be permitted to vote against a nominee. In the event that a director nominee fails to receive an
affirmative majority of the votes cast in an election where the number of nominees is less than or equal to the number of directors to be elected, the board of directors, within its powers, may take any appropriate action, including decreasing the
number of directors or filling a vacancy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.14</B> <B>Waiver of Notice</B>. Whenever notice is required to be given under any
provision of the General Corporation Law of Delaware or of the certificate of incorporation or these bylaws, a written waiver thereof, signed by the person entitled to notice, whether before or after the time stated therein, shall be deemed
equivalent to notice. Attendance of a person at a meeting shall constitute a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any
business because the meeting is not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in any written waiver of notice unless so required by
the certificate of incorporation or these bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.15</B> <B>Stockholder Action By Written Consent</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) Except as may be otherwise provided in the certificate of incorporation, any action which may be taken at any annual or special meeting of
stockholders may be taken without a meeting and without prior notice, if a consent in writing, setting forth the action so taken, is signed by the holders of record on the record date established pursuant to Section&nbsp;2.15(b) (the
&#147;<U>Written Consent Record Date</U>&#148;) of outstanding shares having not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all shares entitled to vote on that action were
present and voted. In the case of election of directors, if the certificate of incorporation so provides, such a consent shall be effective only if signed by the holders of all outstanding shares entitled to vote for the election of directors;
provided, however, that a director may be elected at any time to fill a vacancy on the board of directors (other than a vacancy created by the removal of a director) that has not been filled by the directors, by the written consent of the holders of
a majority of the outstanding shares entitled to vote for the election of directors. To be effective, a written consent must be delivered to the corporation by delivery to its registered office, its principal place of business or an officer or agent
of the corporation having custody of the books in which proceedings of meetings of stockholders are recorded. Delivery made to the corporation&#146;s registered office shall be by hand or by certified or registered mail, return receipt requested.
Every written consent shall bear the date of signature of each stockholder who signs the consent and no written consent shall be effective to take the corporate action referred to therein unless, within sixty (60)&nbsp;days of the earliest dated
consent delivered in the manner required by this Section&nbsp;2.15 to the corporation, written consents signed by a sufficient number of holders to take action are delivered to the corporation in accordance with this Section&nbsp;2.15. Any
stockholder giving a written consent, or the stockholder&#146;s proxy holders, may revoke the consent by a writing received by the secretary of the corporation before written consents of the number of shares required to authorize the proposed action
have been filed with the secretary. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) Without qualification, any stockholder of record seeking to have the stockholders
authorize or take any action by written consent shall first request in writing that the board of directors fix a Written Consent Record Date for the purpose of determining the stockholders entitled to take such action, which request shall be in
proper form and delivered to, or mailed and received by, the secretary of the corporation at the principal executive offices of the corporation. Within ten (10)&nbsp;days after receipt of a request in proper form and otherwise in compliance with
this Section&nbsp;2.15(b) from any such stockholder, the board of directors may adopt a resolution fixing a Written Consent Record Date for the purpose of determining the stockholders entitled to take such action, which date shall not be more than
ten (10)&nbsp;days after the date upon which the resolution fixing the record date is adopted by the board of directors. If no resolution fixing a record date has been adopted by the board of directors within such ten (10)&nbsp;day period after the
date on which such a request is received, (i)&nbsp;the Written Consent Record Date for determining stockholders entitled to consent to such action, when no prior action of the board of directors is required by applicable law, shall be the first date
on which valid signed written consents constituting not less than the minimum number of votes that would be necessary to authorize or take that action at a meeting at which all shares entitled to vote on that action were present and voted and
setting forth the action taken or proposed to be taken is delivered to the corporation in the manner described in Section&nbsp;2.15(a), and (ii)&nbsp;the Written Consent Record Date for determining stockholders entitled to consent to such action,
when prior action by the board of directors is required by applicable law, shall be at the close of business on the date on which the board of directors adopts the resolution taking such prior action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c) Any electronic transmission consenting to an action to be taken and transmitted by a stockholder or proxyholder, or by a person or persons
authorized to act for a stockholder or proxyholder, shall be deemed written, signed and dated for purposes of this Section&nbsp;2.15, provided that any such electronic transmission sets forth or is delivered with information from which the
corporation can determine: (i)&nbsp;that the electronic transmission was transmitted by the stockholder or proxyholder or by a person or persons authorized to act for the stockholder or proxyholder; and (ii)&nbsp;the date on which such stockholder
or proxyholder or authorized person or persons transmitted such electronic transmission. The date on which such electronic transmission is transmitted shall be deemed to be the date on which such consent was signed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d) Any copy, facsimile or other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for
any and all purposes for which the original writing could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire writing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e) If the consents of all stockholders entitled to vote have not been solicited in writing, and if the unanimous written consent of all such
stockholders shall not have been received, the secretary shall give prompt notice of the corporate action approved by the stockholders without a meeting. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.16</B> <B>Record Date for Stockholder Notice; Voting</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) (i) For purposes of determining the stockholders entitled to notice of any meeting or to vote thereat, the board of directors may fix, in
advance, a record date, which shall not precede the date upon which the resolution fixing the record date is adopted by the board of directors and which shall not be more than sixty (60)&nbsp;days nor less than ten (10)&nbsp;days before the date of
any such meeting, and in such event only stockholders of record on the date so fixed are entitled to notice and to vote, notwithstanding any transfer of any shares on the books of the corporation after the record date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) If the board of directors does not so fix a record date, the record date for determining stockholders entitled to notice of or to vote
at a meeting of stockholders shall be at the close of business on the business day next preceding the day on which notice is given, or, if notice is waived, at the close of business on the business day next preceding the day on which the meeting is
held. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any
adjournment of the meeting unless the board of directors fixes a new record date for the adjourned meeting, but the board of directors shall fix a new record date if the meeting is adjourned for more than thirty (30)&nbsp;days from the date set for
the original meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) The record date for any other purpose shall be as provided in Section&nbsp;8.1 of these bylaws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.17</B> <B>Proxies</B>. Every person entitled to vote for directors, or on any other matter, shall have the right to do so either in
person or by proxy authorized by an instrument in writing or by a transmission permitted by law, including Rule <FONT STYLE="white-space:nowrap">14a-19</FONT> promulgated under the Exchange Act, filed in accordance with the procedure established for
the meeting signed by the person and filed with the secretary of the corporation, but no such proxy shall be voted or acted upon after three (3)&nbsp;years from its date unless the proxy provides for a longer period. A proxy shall be deemed signed
if the stockholder&#146;s name is placed on the proxy (whether by manual signature, electronic signature or otherwise) by the stockholder or the stockholder&#146;s
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact.</FONT></FONT> The revocability of a proxy that states on its face that it is irrevocable shall be governed by the provisions of Section&nbsp;212(e) of the General
Corporation Law of Delaware. Any copy, facsimile or other reliable reproduction of the writing or transmission created pursuant to this paragraph may be substituted or used in lieu of the original writing or transmission for any and all purposes for
which the original writing or transmission could be used, provided that such copy, facsimile or other reproduction shall be a complete reproduction of the entire writing or transmission and that such copy, facsimile or other reproduction set forth
or be submitted with information from which it can be determined that such copy, facsimile or other reproduction was authorized by the stockholder. Any stockholder directly or indirectly soliciting proxies from other stockholders must use a proxy
card color other than white, which shall be reserved for the exclusive use by the board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.18</B> <B>List of Stockholders
Entitled to Vote</B>. The officer who has charge of the stock ledger of the corporation shall prepare and make, no later than the tenth day before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting,
arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting,
during ordinary business hours, for a period of ten (10)&nbsp;days ending on the day before the meeting date, either at a place within the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not
so specified, at the place where the meeting is to be held. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.19</B> <B>Meeting By Remote Communications</B>. The board of directors may, in its sole
discretion, determine that a meeting of stockholders shall not be held at any place, but may instead be held solely by means of remote communication in accordance with Section&nbsp;211(a)(2) of the General Corporation Law of Delaware. If authorized
by the board of directors in its sole discretion, and subject to such guidelines and procedures as the board of directors may adopt, stockholders and proxyholders not physically present at a meeting of stockholders may, by means of remote
communication (a)&nbsp;participate in a meeting of stockholders; and (b)&nbsp;be deemed present in person and vote at a meeting of stockholders, whether such meeting is to be held at a designated place or solely by means of remote communication,
provided that (i)&nbsp;the corporation shall implement reasonable measures to verify that each person deemed present and permitted to vote at the meeting by means of remote communication is a stockholder or proxyholder; (ii)&nbsp;the corporation
shall implement reasonable measures to provide such stockholders and proxyholders a reasonable opportunity to participate in the meeting and to vote on matters submitted to the stockholders, including an opportunity to read or hear the proceedings
of the meeting substantially concurrently with such proceedings; and (iii)&nbsp;if any stockholder or proxyholder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be maintained
by the corporation. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DIRECTORS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.1</B>
<B>Powers</B>. Subject to the provisions of the General Corporation Law of Delaware and any limitations in the certificate of incorporation and these bylaws relating to action required to be approved by the stockholders or by the outstanding shares,
the business and affairs of the corporation shall be managed and all corporate powers shall be exercised by or under the direction of the board of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.2</B> <B>Number of Directors; Independence</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) The board of directors shall consist of not less than six (6)&nbsp;nor more than fifteen (15)&nbsp;members, with the exact number within
that range to be set from time to time exclusively by resolution of the board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) A substantial majority of the members of
the board of directors shall be independent as determined by the board of directors or as otherwise required by applicable law, regulation or listing standard of the New York Stock Exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.3</B> <B>Election and Term of Office of Directors</B>. Except as provided in Section&nbsp;3.4 of these bylaws, directors shall be elected
at each annual meeting of stockholders to hold office until the next annual meeting. Each director, including a director elected or appointed to fill a vacancy, shall hold office until the expiration of the term for which elected and until a
successor has been elected and qualified. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.4</B> <B>Resignation and Vacancies</B>. Any director may resign effective on giving
notice in writing or by electronic transmission to the chairman of the board, the president, the secretary or the board of directors, unless the notice specifies a later time for that resignation to become effective. If the resignation of a director
is effective at a future time, the board of directors may elect a successor to take office when the resignation becomes effective. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All
vacancies in the board of directors may be filled by a majority of the remaining directors, even if less than a quorum, or by a sole remaining director; provided, that whenever the holders of any class or classes of stock or series thereof are
entitled to elect one or more directors by the provisions of the certificate of incorporation, vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors elected by such class or classes
or series thereof then in office, or by a sole remaining director so elected. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.5</B> <B>Place of Meetings; Meetings by Telephone</B>.
Regular meetings of the board of directors may be held at any place within or outside the State of Delaware that has been designated from time to time by resolution of the board. In the absence of such a designation, regular meetings shall be held
at the principal executive office of the corporation. Special meetings of the board may be held at any place within or outside the State of Delaware that has been designated in the notice of the meeting or, if not stated in the notice or if there is
no notice, at the principal executive office of the corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any meeting, regular or special, may be held by conference telephone or
similar communication equipment, so long as all directors participating in the meeting can hear one another; and all such directors shall be deemed to be present in person at the meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.6</B> <B>Regular Meetings</B>. Regular meetings of the board of directors may be held without notice if the times of such meetings are
fixed by the board of directors. If any regular meeting day shall fall on a legal holiday, then the meeting shall be held next succeeding full business day. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.7</B> <B>Special Meetings; Notice</B>. Special meetings of the board of directors for any purpose or purposes may be called at any time
by the chairman of the board, the president or a majority of the directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notice of the time and place of special meetings shall be
delivered personally or by telephone, electronic transmission or other form of recorded communication to each director or sent by mail, charges prepaid, addressed to each director at that director&#146;s address as it is shown on the records of the
corporation. If the notice is mailed, it shall be deposited in the United States mail at least four (4)&nbsp;days before the time of the holding of the meeting. If the notice is delivered personally or by telephone or electronic transmission, it
shall be delivered personally or by telephone or electronic transmission, at least forty-eight (48)&nbsp;hours before the time of the holding of the meeting. Any oral notice given personally or by telephone or electronic transmission, may be
communicated either to the director or to a person at the office of the director who the person giving the notice has reason to believe will promptly communicate it to the director. The notice need not specify the purpose or the place of the
meeting, if the meeting is to be held at the principal executive office of the corporation. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.8</B> <B>Quorum</B>. A majority of the authorized number of directors shall constitute
a quorum for the transaction of business, except to adjourn as provided in Section&nbsp;3.10 of these bylaws. Every act or decision done or made by a majority of the directors present at a duly held meeting at which a quorum is present shall be
regarded as the act of the board of directors, subject to the provisions of the certificate of incorporation and other applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A
meeting at which a quorum is initially present may continue to transact business notwithstanding the withdrawal of directors, if any action taken is approved by at least a majority of the required quorum for that meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.9</B> <B>Waiver of Notice</B>. Notice of a meeting need not be given to any director (i)&nbsp;who signs a waiver of notice or a consent
to holding the meeting or an approval of the minutes thereof, whether before or after the meeting, or (ii)&nbsp;who attends the meeting without protesting, prior thereto or at its commencement, the lack of notice to such directors. All such waivers,
consents, and approvals shall be filed with the corporate records or made part of the minutes of the meeting. A waiver of notice need not specify the purpose of any regular or special meeting of the board of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.10</B> <B>Adjournment</B>. A majority of the directors present, whether or not constituting a quorum, may adjourn any meeting to another
time and place. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.11</B> <B>Notice of Adjournment</B>. Notice of the time and place of holding an adjourned meeting need not be given
unless the meeting is adjourned for more than twenty-four (24)&nbsp;hours. If the meeting is adjourned for more than twenty-four (24)&nbsp;hours, then notice of the time and place of the adjourned meeting shall be given before the adjourned meeting
takes place, in the manner specified in Section&nbsp;3.7 of these bylaws, to the directors who were not present at the time of the adjournment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.12</B> <B>Board Action by Written Consent Without a Meeting</B>. Any action required or permitted to be taken by the board of directors
may be taken without a meeting, provided that all members of the board individually or collectively consent in writing or by electronic transmission to that action. Such action by written consent shall have the same force and effect as a unanimous
vote of the board of directors. Such consent or consents and any counterparts thereof shall be filed with the minutes of the proceedings of the board in the same paper or electronic form as the minutes are maintained. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.13</B> <B>Fees and Compensation of Directors</B>. Directors and members of committees may receive such compensation, if any, for their
services and such reimbursement of expenses as may be fixed or determined by resolution of the board of directors. This Section&nbsp;3.13 shall not be construed to preclude any director from serving the corporation in any other capacity as an
officer, agent, employee or otherwise and receiving compensation for those services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3.14</B> <B>Approval of Loans to Officers</B>.
The corporation may lend money to, or guarantee any obligation of, or otherwise assist any officer or other employee of the corporation or any of its subsidiaries, including any officer or employee who is a director of the corporation or any of its
subsidiaries, whenever, in the judgment of the directors, such loan, guaranty or assistance may reasonably be expected to benefit the corporation. The loan, guaranty or other </P>
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assistance may be with or without interest and may be unsecured, or secured in such manner as the board of directors shall approve, including, without limitation, a pledge of shares of stock of
the corporation. Nothing contained in this Section&nbsp;shall be deemed to deny, limit or restrict the powers of guaranty or warranty of the corporation at common law or under any statute. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COMMITTEES
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.1</B> <B>Committees of Directors</B>. The board of directors may, by resolution adopted by a majority of the authorized number
of directors, designate one (1)&nbsp;or more committees, each consisting of one or more directors, to serve at the pleasure of the board. The board may designate one (1)&nbsp;or more directors as alternate members of any committee, who may replace
any absent or disqualified member at any meeting of the committee. The appointment of members or alternate members of a committee requires the vote of a majority of the authorized number of directors. Any committee, to the extent provided in the
resolution of the board, shall have and may exercise all the powers and authority of the board, but no such committee shall have the power or authority to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a) approve or adopt, or recommend to the stockholders, any action or matter expressly required by the Delaware General Corporation Law to be
submitted to stockholders for approval; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b) adopt, amend or repeal any bylaw of the corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.2</B> <B>Meetings and Action of Committees</B>. Meetings and actions of committees shall be governed by, and held and taken in accordance
with, the provisions of Article&nbsp;III of these bylaws, Section&nbsp;3.5 (place of meetings), Section&nbsp;3.6 (regular meetings), Section&nbsp;3.7 (special meetings and notice), Section&nbsp;3.8 (quorum), Section&nbsp;3.9 (waiver of notice),
Section&nbsp;3.10 (adjournment), Section&nbsp;3.11 (notice of adjournment), and Section&nbsp;3.12 (action without meeting), with such changes in the context of those bylaws as are necessary to substitute the committee and its members for the board
of directors and its members; provided, however, that the time of regular meetings of committees may be determined either by resolution of the board of directors or by resolution of the committee, that special meetings of committees may also be
called by resolution of the board of directors, and that notice of special meetings of committees shall also be given to all alternate members, who shall have the right to attend all meetings of the committee. The board of directors may adopt rules
for the government of any committee not inconsistent with the provisions of these bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4.3</B> <B>Committee Minutes</B>. Each
committee shall keep regular minutes of its meetings and report the same to the board of directors when requested. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.1</B>
<B>Officers</B>. The officers of the corporation shall be a chief executive officer, a president, a secretary, and a chief financial officer. The corporation may also have, at the discretion of the board of directors, a chairman of the board, one or
more vice presidents, and such other officers as may be appointed in accordance with the provisions of Section&nbsp;5.3 of these bylaws. Any number of offices may be held by the same person. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.2</B> <B>Election of Officers</B>. The officers of the corporation, except such
officers as may be appointed in accordance with the provisions of Section&nbsp;5.3 or Section&nbsp;5.5 of these bylaws, shall be chosen by the board, subject to the rights, if any, of an officer under any contract of employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.3</B> <B>Subordinate Officers</B>. The board of directors may appoint, or may empower the chief executive officer or president to
appoint, such other officers as the business of the corporation may require, each of whom shall hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the board of directors or such empowered
officer may from time to time determine. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.4</B> <B>Removal and Resignation of Officers</B>. Subject to the rights, if any, of an
officer under any contract of employment, any officer may be removed, either with or without cause, by the board of directors at any regular or special meeting of the board or, except in case of an officer chosen by the board of directors, by any
officer upon whom such power of removal may be conferred by the board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any officer may resign at any time by giving notice
to the corporation. Any resignation shall take effect at the date of the receipt of that notice or at any later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation shall not be necessary
to make it effective. Any resignation is without prejudice to the rights, if any, of the corporation under any contract to which the officer is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.5</B> <B>Vacancies In Offices</B>. A vacancy in any office because of death, resignation, removal, disqualification or any other cause
shall be filled in the manner prescribed in these bylaws for regular appointments to that office. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.6</B> <B>Chairman of the
Board</B>. The chairman of the board, if such an officer be elected, shall, if present, preside at meetings of the board of directors and exercise and perform such other powers and duties as may from time to time be assigned by the board of
directors or as may be prescribed by these bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.7</B> <B>Chief Executive Officer</B>. Subject to the control of the board of
directors, the chief executive officer shall have general supervision, direction, and control of the business and the officers of the corporation. The chief executive officer shall have such other duties and powers as may be prescribed from time to
time by the board of directors or these bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.8</B> <B>President</B>. The president shall have such powers and perform such duties
as from time to time may be prescribed by these bylaws, the chief executive officer or the board of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.9</B> <B>Vice
Presidents</B>. The vice presidents shall have such powers and perform such duties as from time to time may be prescribed for them respectively by these bylaws, the chief executive officer or the board of directors. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.10</B> <B>Secretary</B>. The secretary shall keep or cause to be kept, at the principal
executive office of the corporation or such other place as the board of directors may direct, a book of minutes of all meetings and actions of directors, committees of directors and stockholders. The minutes shall show the time and place of each
meeting, whether regular or special (and, if special, how authorized and the notice given), the names of those present at directors&#146; meetings or committee meetings, the number of shares present or represented at stockholders&#146; meetings, and
the proceedings thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The secretary shall keep, or cause to be kept, at the principal executive office of the corporation or at the
office of the corporation&#146;s transfer agent or registrar, as determined by resolution of the board of directors, a share register, or a duplicate share register, showing the names of all stockholders and their addresses, the number and classes
of shares held by each, the number and date of certificates evidencing such shares, and the number and date of cancellation of every certificate surrendered for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The secretary shall give, or cause to be given, notice of all meetings of the stockholders and of the board of directors required to be given
by law or by these bylaws, shall keep the seal of the corporation, if one be adopted, in safe custody and shall have such other powers and perform such other duties as may be prescribed by the chief executive officer, board of directors or by these
bylaws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.11</B> <B>Chief Financial Officer</B>. The chief financial officer shall keep and maintain, or cause to be kept and
maintained, adequate and correct books and records of accounts of the properties and business transactions of the corporation, including accounts of its assets, liabilities, receipts, disbursements, gains, losses, capital, retained earnings, and
shares. The books of account shall at all reasonable times be open to inspection by any director. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The chief financial officer shall
deposit all money and other valuables in the name and to the credit of the corporation with such depositaries as may be designated by the board of directors. The chief financial officer shall disburse the funds of the corporation as may be ordered
by the board of directors, shall render to the president and directors, whenever they request it, an account of all transactions effected as chief financial officer and of the financial condition of the corporation, and shall have such other powers
and perform such other duties as may be prescribed by the chief executive officer, board of directors or these bylaws. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES AND OTHER AGENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.1</B> <B>Indemnification of Directors and Officers</B>. The corporation shall, to the maximum extent and in the manner permitted by the
General Corporation Law of Delaware as the same now exists or may hereafter be amended, indemnify any person against expenses (including attorneys&#146; fees), judgments, fines, and amounts actually and reasonably incurred in connection with any
threatened, pending or completed action, suit, or proceeding, whether civil, criminal, administrative or investigative, including any settlement thereof, in which such person was or is a party or is threatened to be made a party by reason of the
fact that such person is or was a director or officer of the corporation. For purposes of this Article&nbsp;VI, a &#147;director&#148; or </P>
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&#147;officer&#148; of the corporation shall mean any person (i)&nbsp;who is or was a director or officer of the corporation, (ii)&nbsp;who is or was serving at the request of the corporation as
a director or officer of another corporation, partnership, joint venture, trust or other enterprise, or (iii)&nbsp;who was a director or officer of a corporation which was a predecessor corporation of the corporation or of another enterprise at the
request of such predecessor corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The corporation shall be required to indemnify a director or officer in connection with an
action, suit, or proceeding (or part thereof) initiated by such director or officer only if the initiation of such action, suit, or proceeding (or part thereof) by the director or officer was authorized by the board of directors of the corporation.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The corporation shall pay the expenses (including attorney&#146;s fees) incurred by a director or officer of the corporation entitled to
indemnification hereunder in defending any action, suit or proceeding referred to in this Section&nbsp;6.1 in advance of its final disposition; provided, however, that payment of expenses incurred by a director or officer of the corporation in
advance of the final disposition of such action, suit or proceeding shall be made only upon receipt of an undertaking by the director or officer to repay all amounts advanced if it should ultimately be determined that the director of officer is not
entitled to be indemnified under this Section&nbsp;6.1 or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Section&nbsp;shall create a right of indemnification for each
person referred to above, whether or not the proceeding to which the indemnification relates arose in whole or in part prior to the adoption of this Section, and in the event of death, such right shall extend to such person&#146;s legal
representatives. The rights conferred on any person by this Section&nbsp;shall not be exclusive of any other rights which such person may have or hereafter acquire under any statute, provision of the certificate of incorporation, these bylaws,
agreement, vote of the stockholders or disinterested directors or otherwise. Any repeal or modification of the foregoing provisions of this Section&nbsp;shall not adversely affect any right or protection hereunder of any person in respect of any act
or omission occurring prior to the time of such repeal or modification. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.2</B> <B>Indemnification of Others</B>. The corporation
shall have the power, to the maximum extent and in the manner permitted by the General Corporation Law of Delaware as the same now exists or may hereafter be amended, to indemnify any person (other than directors and officers) against expenses
(including attorneys&#146; fees), judgments, fines, and amounts actually and reasonably incurred in connection with any threatened, pending or completed action, suit, or proceeding, whether civil, criminal, administrative or investigative, including
any settlement thereof, in which such person was or is a party or is threatened to be made a party by reason of the fact that such person is or was an employee or agent of the corporation. For purposes of this Article&nbsp;VI, an
&#147;employee&#148; or &#147;agent&#148; of the corporation (other than a director or officer) shall mean any person (i)&nbsp;who is or was an employee or agent of the corporation, (ii)&nbsp;who is or was serving at the request of the corporation
as an employee or agent of another corporation, partnership, joint venture, trust or other enterprise, or (iii)&nbsp;who was an employee or agent of a corporation which was a predecessor corporation of the corporation or of another enterprise at the
request of such predecessor corporation. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.3</B> <B>Insurance</B>. 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 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 him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify him or her against such
liability under the provisions of the General Corporation Law of Delaware. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6.4</B> <B>Claims</B>. If a claim for indemnification under
Section&nbsp;6.1 (following the final disposition of such proceeding) is not paid in full within sixty (60)&nbsp;days after the corporation has received a claim therefor by a director or officer entitled to indemnification thereunder, or if a claim
for any advancement of expenses under Section&nbsp;6.1 is not paid in full within thirty (30)&nbsp;days after the corporation has received a statement or statements requesting such amounts be advanced, such director or officer shall thereupon (but
not before) be entitled to file suit to recover the unpaid amount of such claim. If successful in whole or in part, such director or officer shall be entitled to be paid the expense of prosecuting such claim to the fullest extent permitted by law.
In any such action, the corporation shall have the burden of proving that such director or officer is not entitled to the requested indemnification or advancement of expenses under applicable law. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECORDS AND
REPORTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.1</B> <B>Maintenance and Inspection of Records</B>. The corporation shall, either at its principal executive office or
at such place or places as designated by the board of directors, keep a record of its stockholders listing their names and addresses and the number and class of shares held by each stockholder, a copy of these bylaws as amended to date, accounting
books and other records of its business and properties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any stockholder of record, in person or by attorney or other agent, shall, upon
written demand under oath stating the purpose thereof, have the right during the usual hours for business to inspect for any proper purpose the corporation&#146;s stock ledger, a list of its stockholders, and its other books and records and to make
copies or extracts therefrom. A proper purpose shall mean a purpose reasonably related to such person&#146;s interest as a stockholder. In every instance where an attorney or other agent is the person who seeks the right to inspection, the demand
under oath shall be accompanied by a power of attorney or such other writing that authorizes the attorney or other agent to so act on behalf of the stockholder. The demand under oath shall be directed to the corporation at its registered office in
Delaware or at its principal place of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.2</B> <B>Inspection By Directors</B>. Any director shall have the right to examine
(and to make copies of) the corporation&#146;s stock ledger, a list of its stockholders and its other books and records for a purpose reasonably related to his or her position as a director. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.3</B> <B>Representation of Shares of Other Corporations</B>. The chairman of the board, if any, the president, any vice president, the
chief financial officer, the secretary or any assistant secretary of this corporation, or any other person authorized by the board of directors or the president or a vice president, is authorized to vote, represent and exercise on behalf of this
corporation all rights incident to any and all shares of the stock of any other corporation or corporations standing in the name of this corporation. The authority herein granted may be exercised either by such person directly or by any other person
authorized to do so by proxy or power of attorney duly executed by such person having the authority. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7.4</B> <B>Certification and Inspection of Bylaws</B>. The original or a copy of these
bylaws, as amended or otherwise altered to date, certified by the secretary, shall be kept at the corporation&#146;s principal executive office and shall be open to inspection by the stockholders of the corporation, at all reasonable times during
office hours. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VIII </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GENERAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.1</B> <B>Record Date for Purposes Other than Notice and Voting</B>. For purposes of determining the stockholders entitled to receive
payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in respect of any other lawful action, the board of directors may fix, in advance, a record date, which shall not be more
than sixty (60)&nbsp;days before any such action. In that case, only stockholders of record at the close of business on the date so fixed are entitled to receive the dividend, distribution or allotment of rights, or to exercise such rights, as the
case may be, notwithstanding any transfer of any shares on the books of the corporation after the record date so fixed, except as otherwise provided in the General Corporation Law of Delaware. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the board of directors does not so fix a record date, then the record date for determining stockholders for any such purpose shall be at
the close of business on the day on which the board adopts the applicable resolution. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.2</B> <B>Checks; Drafts; Evidences of
Indebtedness</B>. From time to time, the board of directors shall determine by resolution which person or persons may sign or endorse all checks, drafts, other orders for payment of money, notes or other evidences of indebtedness that are issued in
the name of or payable to the corporation, and only the persons so authorized shall sign or endorse those instruments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.3</B>
<B>Corporate Contracts and Instruments: How Executed</B>. The board of directors, except as otherwise provided in these bylaws, may authorize any officer or officers, or agent or agents, to enter into any contract or execute any instrument in the
name of and on behalf of the corporation; such authority may be general or confined to specific instances. Unless so authorized or ratified by the board of directors or within the agency power of an officer, no officer, agent or employee shall have
any power or authority to bind the corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose or for any amount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.4</B> <B>Stock Certificates; Transfer; Partly Paid Shares</B>. The shares of the corporation shall be represented by certificates,
provided that the board of directors of the corporation may provide by resolution or resolutions that some or all of any or all classes or series of its stock shall be uncertificated shares. Any such resolution shall not apply to shares represented
by a certificate until such certificate is surrendered to the corporation. Notwithstanding the adoption of such a resolution by the board of directors, every holder of stock represented by certificates and, upon request, every holder of
uncertificated shares, shall be entitled to have a certificate signed by, or in the name of the corporation by, the chairman or vice-chairman of the board of directors, or the president or any vice president, and by the treasurer or an assistant
treasurer, or the secretary or an assistant secretary of such corporation representing the number of shares registered in certificate form. Any or all of the signatures on the certificate may be a facsimile. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In case any officer, transfer agent or registrar who has signed or whose facsimile signature
has been placed upon a certificate has ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the corporation with the same effect as if he or she were such officer, transfer agent or registrar
at the date of issue. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certificates for shares shall be of such form and device as the board of directors may designate and shall state
the name of the record holder of the shares represented thereby; its number; date of issuance; the number of shares for which it is issued; a summary statement or reference to the powers, designations, preferences or other special rights of such
stock and the qualifications, limitations or restrictions of such preferences and/or rights, if any; a statement or summary of liens, if any; a conspicuous notice of restrictions upon transfer or registration of transfer, if any; a statement as to
any applicable voting trust agreement; if the shares be assessable, or, if assessments are collectible by personal action, a plain statement of such facts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon surrender to the secretary or transfer agent of the corporation of a certificate for shares duly endorsed or accompanied by proper
evidence of succession, assignment or authority to transfer, it shall be the duty of the corporation to issue a new certificate to the person entitled thereto, cancel the old certificate and record the transaction upon its books. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The corporation may issue the whole or any part of its shares as partly paid and subject to call for the remainder of the consideration to be
paid therefor. Upon the face or back of each stock certificate issued to represent any such partly paid shares, or upon the books and records of the corporation in the case of uncertificated partly paid shares, the total amount of the consideration
to be paid therefor and the amount paid thereon shall be stated. Upon the declaration of any dividend on fully paid shares, the corporation shall declare a dividend upon partly paid shares of the same class, but only upon the basis of the percentage
of the consideration actually paid thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.5</B> <B>Special Designation On Certificates</B>. If the corporation is authorized to
issue more than one class of stock or more than one series of any class, then the powers, the designations, the preferences and the relative, participating, optional or other special rights of each class of stock or series thereof and the
qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the face or back of the certificate that the corporation shall issue to represent such class or series of stock; provided,
however, that, except as otherwise provided in Section&nbsp;202 of the General Corporation Law of Delaware, in lieu of the foregoing requirements there may be set forth on the face or back of the certificate that the corporation shall issue to
represent such class or series of stock a statement that the corporation will furnish without charge to each stockholder who so requests the powers, the designations, the preferences and the relative, participating, optional or other special rights
of each class of stock or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.6</B> <B>Lost Certificates</B>. Except as provided in this Section&nbsp;8.6, no new
certificates for shares shall be issued to replace a previously issued certificate unless the latter is surrendered to the corporation and cancelled at the same time. The board of directors may, in case any share certificate or certificate for any
other security is lost, stolen or destroyed, authorize the issuance of replacement certificates on such terms and conditions as the board may require; the board may require indemnification of the corporation secured by a bond or other adequate
security sufficient to protect the corporation against any claim that may be made against it, including any expense or liability, on account of the alleged loss, theft or destruction of the certificate or the issuance of the replacement certificate.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.7</B> <B>Transfer Agents and Registrars</B>. The board of directors may appoint one or more transfer agents or transfer clerks, and
one or more registrars, each of which shall be an incorporated bank or trust company &#151; either domestic or foreign, who shall be appointed at such times and places as the requirements of the corporation may necessitate and the board of directors
may designate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.8</B> <B>Construction; Definitions</B>. Unless the context requires otherwise, the general provisions, rules of
construction, and definitions in the General Corporation Law of Delaware shall govern the construction of these bylaws. Without limiting the generality of this provision, the singular number includes the plural, the plural number includes the
singular, and the term &#147;person&#148; includes both a corporation and a natural person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.9</B> <B>Forum Selection</B>. Unless the
corporation consents in writing to the selection of an alternative forum, (a)&nbsp;the Court of Chancery of the State of Delaware (the &#147;<U>Court of Chancery</U>&#148;) (or, in the event that the Court of Chancery does not have jurisdiction, the
federal district court for the District of Delaware or other state courts of the State of Delaware) shall be the sole and exclusive forum for any stockholder (including a beneficial owner) to bring (i)&nbsp;any derivative action or proceeding
brought on behalf of the corporation, (ii)&nbsp;any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the corporation to the corporation or the corporation&#146;s stockholders, (iii)&nbsp;any
action asserting a claim against the corporation, its directors, officers or employees arising pursuant to any provision of the General Corporation Law of Delaware or the corporation&#146;s certificate of incorporation or bylaws, or (iv)&nbsp;any
action asserting a claim against the corporation, its directors, officers or employees governed by the internal affairs doctrine, and (b)&nbsp;subject to the preceding provisions of this Section&nbsp;8.9, the federal district courts of the United
States of America shall be the exclusive forum for the resolution of any complaint asserting a cause or causes of action arising under the Securities Act of 1933, as amended, including all causes of action asserted against any defendant to such
complaint. If any provision or provisions of this&nbsp;Section&nbsp;8.9 shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law,
the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Section&nbsp;8.9 (including, without limitation, each portion of any sentence of this Section&nbsp;8.9 containing any such
provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) and the application of such provision to other persons or entities and circumstances shall not in any way be affected or impaired
thereby. Any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the corporation shall be deemed to have notice of and to have consented to this Section. This provision is intended to
</P>
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benefit and may be enforced by the corporation, its officers and directors, the underwriters to any offering giving rise to such complaint, and any other professional or entity whose profession
gives authority to a statement made by that person or entity and who has prepared or certified any part of the documents underlying the offering. If any action, the subject matter of which is within the scope of clause (a)&nbsp;of the first sentence
of this Section, is filed in a court other than the Court of Chancery (a &#147;<U>Foreign Action</U>&#148;) in the name of any stockholder, such stockholder shall be deemed to have consented to (i)&nbsp;the personal jurisdiction of the Court of
Chancery in connection with any action brought in any such court to enforce the provisions of clause (a)&nbsp;of the first sentence of this Section&nbsp;and (ii)&nbsp;having service of process made upon such stockholder in any such action by service
upon such stockholder&#146;s counsel in the Foreign Action as agent for such stockholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8.10</B> <B>Electronic Signatures</B>. Any
document, including, without limitation, any consent, agreement, certificate or instrument, required by the General Corporation Law of Delaware, the certificate of incorporation or these bylaws to be executed by any officer, director, stockholder,
employee or agent of the corporation may be executed using a facsimile or other form of electronic signature to the fullest extent permitted by applicable law. All other contracts, agreements, certificates or instruments to be executed on behalf of
the corporation may be executed using a facsimile or other form of electronic signature to fullest extent permitted by applicable law. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IX </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The original or other bylaws of the corporation may be adopted, amended or repealed by the stockholders entitled to vote or by the
board of directors of the corporation. The fact that such power has been so conferred upon the directors shall not divest the stockholders of the power, nor limit their power to adopt, amend or repeal bylaws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Whenever an amendment or new bylaw is adopted, it shall be copied in the book of bylaws with the original bylaws, in the appropriate place. If
any bylaw is repealed, the fact of repeal with the date of the meeting at which the repeal was enacted or the filing of the operative written consent(s) shall be stated in said book. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEMNIFICATION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">THIS INDEMNIFICATION AGREEMENT is made as of the 6th day of June, 2023, by and between Topgolf Callaway Brands Corp., a Delaware corporation
(the &#147;Company&#148;), and Charles Matthew Turney (&#147;Indemnitee&#148;), a director of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and
Indemnitee recognize the increasing difficulty in obtaining liability insurance covering directors, the significant increases in the cost of such insurance and the general reductions in the coverage of such insurance; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, although the Company currently has directors liability insurance, the coverage of such insurance is such that many claims which may
be brought against Indemnitee may not be covered, or may not be fully covered, and the Company may be unable to maintain such insurance; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Indemnitee further recognize the substantial increase in corporate litigation subjecting directors to expensive
litigation risks at the same time that liability insurance has been severely limited; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the current protection available may not
be adequate given the present circumstances, and Indemnitee may not be willing to serve as a director without adequate protection; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve as directors of
the Company and to indemnify its directors so as to provide them with the maximum protection permitted by law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the
Company and Indemnitee hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B> <B><U>DEFINITIONS</U></B>. The following terms, as used herein, have the
following meaning: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1.1 <U>Affiliate</U>. &#147;Affiliate&#148; means, (i)&nbsp;with respect to any corporation, any officer, director or
10% or more shareholder of such corporation, or (ii)&nbsp;with respect to any individual, any partner or immediate family member of such individual or the estate of such individual, or (iii)&nbsp;with respect to any partnership, trust or joint
venture, any partner, <FONT STYLE="white-space:nowrap">co-venturer</FONT> or trustee of such partnership, trust of joint venture, or any beneficiary or owner having 10% or more interest in the equity, property or profits of such partnership, trust
or joint venture, or (iv)&nbsp;with respect to any Person, any other Person which, directly or indirectly, controls, is controlled by, or is under common control with such Person or any Affiliate of such Person. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1.2 <U>Agreement</U>. &#147;Agreement&#148; shall mean this Indemnification Agreement, as
the same may be amended from time to time hereafter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1.3 <U>DGCL</U>. &#147;DGCL&#148; shall mean the Delaware General Corporation Law,
as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1.4 <U>Person</U>. &#147;Person&#148; shall mean any individual, partnership, corporation, joint venture, trust, estate, or
other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">1.5 <U>Subsidiary</U>. &#147;Subsidiary&#148; shall mean any corporation of which the Company owns, directly or indirectly,
through one or more subsidiaries, securities having more than 50% of the voting power of such corporation. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2. <U>INDEMNIFICATION</U>
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.1 <U>Third Party Proceedings</U>. The Company shall indemnify Indemnitee if Indemnitee is or was a party or witness or other
participant in, or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than action by or in the right of the Company) by reason of the
fact that Indemnitee is or was a director of the Company or any subsidiary of the Company, by reason of any action or inaction on the part of Indemnitee while a director of the Company or any Subsidiary, and/or by reason of the fact that Indemnitee
is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against all expense, liability and loss (including attorneys&#146; fees),
judgments, fines and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with such action, suit or
proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe
Indemnitee&#146;s conduct was unlawful and provided, further, that the Company has determined that such indemnification is otherwise permitted by applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its
equivalent shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in the best interests of the Company or that Indemnitee had reasonable cause to believe that
Indemnitee&#146;s conduct was unlawful. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.2 <U>Proceedings by or in the Right of the Company</U>. The Company shall indemnify Indemnitee
if Indemnitee was or is a party or a witness or other participant in or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the Company or any Subsidiary to procure a judgment in its favor by
reason of the fact that Indemnitee is or was a director of the Company or any Subsidiary, by reason of any action or inaction on the part of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indemnitee while a director of the Company or a Subsidiary or by reason of the fact that Indemnitee is or
was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against all expense, liability and loss (including attorneys&#146; fees) and amounts
paid in settlement (if such settlement is court-approved) actually and reasonably incurred by Indemnitee in connection with the defense or settlement of such action or suit if Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the Company and its shareholders and provided, further, that the Company has determined that such indemnification is otherwise permitted by applicable law. No indemnification shall be made in
respect of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Company in the performance of Indemnitee&#146;s duties to the Company and its shareholders, unless and only to the extent that the court in
which such proceeding is or was pending shall determine upon application that, in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for expenses and then only to the extent that the court shall
determine. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.3 <U>Mandatory Payment of Expenses</U>. To the extent that Indemnitee has been successful on the merits or otherwise in
defense of any action, suit or proceeding referred to in Section&nbsp;2.1 or 2.2 or the defense of any claim, issue or matter therein, Indemnitee shall be indemnified against expenses (including attorneys&#146; fees) actually and reasonably incurred
by Indemnitee in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.4 <U>Enforcing the Agreement</U>. If Indemnitee properly makes a claim for indemnification or an
advance of expenses which is payable pursuant to the terms of this Agreement, and that claim is not paid by the Company, or on its behalf, within ninety days after a written claim has been received by the Company, the Indemnitee may at any time
thereafter bring suit against the Company to recover the unpaid amount of the claim and if successful in whole or in part, the Indemnitee shall be entitled to be paid also all expenses actually and reasonably incurred in connection with prosecuting
such claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.5 <U>Subrogation</U>. In the event of payment under this Agreement, the Company 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 necessary to secure such rights, including the execution of such documents necessary to enable the Company
effectively to bring suit to enforce such rights. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>3. <U>EXPENSES; INDEMNIFICATION PROCEDURE</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3.1 <U>Advancement of Expenses</U>. The Company shall advance all expenses incurred by Indemnitee in connection with the investigation,
defense, settlement or appeal of any civil or criminal action, suit or proceeding referenced in Section&nbsp;2.1 or 2.2 hereof. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be
determined that Indemnitee is not entitled to be indemnified by the Company as authorized hereby or that such indemnification is not otherwise permitted by applicable law. The advances to be made hereunder shall be paid by the Company to Indemnitee
within thirty (30)&nbsp;days following delivery of a written request therefor or by Indemnitee to the Company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3.2 <U>Determination of Conduct</U>. Any indemnification (unless ordered by a court) shall
be made by the Company only as authorized in the specified case upon a determination that indemnification of Indemnitee is proper under the circumstances because Indemnitee has met the applicable standard of conduct set forth in Sections 2.1 or 2.2
of this Agreement. Such determination shall be made by any of the following: (1)&nbsp;the Board of Directors (or by an executive committee thereof) by a majority vote of directors (or committee members) who are not parties to such action, suit or
proceeding, even though less than a quorum, (2)&nbsp;if there are no such disinterested directors, or if such disinterested directors so direct, by independent legal counsel in a written opinion, (3)&nbsp;by the shareholders, with the shares owned
by Indemnitee not being entitled to vote thereon, or (4)&nbsp;the court in which such proceeding is or was pending upon application made by the Company or Indemnitee or the attorney or other person rendering services in connection with the defense,
whether or not such application by Indemnitee, the attorney or the other person is opposed by the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3.3 <U>Notice/Cooperation by
Indemnitee</U>. Indemnitee shall, as a condition precedent to Indemnitee&#146;s right to be indemnified under this Agreement, give the Company notice in writing as soon as practicable of any claim made against Indemnitee for which indemnification
will or could be sought under this Agreement. Notice to the Company shall be given in the manner set forth in Section&nbsp;10.3 hereof and to the address stated therein, or such other address as the Company shall designate in writing to Indemnitee.
In addition, Indemnitee shall give the Company such information and cooperation as it may reasonably require and as shall be within Indemnitee&#146;s power. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3.4 <U>Notice to Insurers</U>. If, at the time of the receipt of a notice of a claim pursuant to Section&nbsp;3.3 hereof, the Company has
director liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all
necessary or desirable actions to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">3.5 <U>Selection of Counsel</U>. In the event the Company shall be obligated under Section&nbsp;3.1 hereof to pay the expenses of any
proceeding against Indemnitee, the Company shall be entitled to assume the defense of such proceeding, with counsel approved by Indemnitee, upon the delivery to Indemnitee of written notice of its election so to do. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">respect to the same proceeding, provided that (a)&nbsp;Indemnitee shall have the right to employ separate
counsel in any such proceeding at Indemnitee&#146;s expense; and (b)&nbsp;if (i) the employment of counsel by Indemnitee has been previously authorized by the Company, (ii)&nbsp;Indemnitee shall have reasonably concluded that there may be a conflict
of interest between the Company and Indemnitee in the conduct of any such defense, or (iii)&nbsp;the Company shall not, in fact, have employed counsel to assume the defense of such proceeding, then the fees and expenses of Indemnitee&#146;s counsel
shall be at the expense of the Company (subject to the provisions of this Agreement). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>4. <U>ADDITIONAL INDEMNIFICATION RIGHTS;
NON</U><U><FONT STYLE="white-space:nowrap">-EXCLUSIVITY</FONT></U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4.1 <U>Application</U>. The provisions of this Agreement shall be
deemed applicable to all actual or alleged actions or omissions by Indemnitee during any and all periods of time that Indemnitee was, is, or shall be serving as a director of the Company or a Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4.2 <U>Scope</U>. The Company hereby agrees to indemnify Indemnitee to the fullest extent permitted by law (except as set forth in
Section&nbsp;8 hereof), notwithstanding that such indemnification is not specifically authorized by the other provisions of this Agreement, the Company&#146;s Certificate of Incorporation, the Company&#146;s Bylaws or by statute. In the event of any
changes, after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors, such changes shall be, <U>ipso facto</U>, within the purview of
Indemnitee&#146;s rights and the Company&#146;s obligations under this Agreement. In the event of any change in any applicable law, statute, or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors,
such changes, except to the extent otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect on this Agreement or the parties&#146; rights and obligations hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">4.3 <U><FONT STYLE="white-space:nowrap">Non-Exclusivity</FONT></U>. The indemnification provided by this Agreement shall not be deemed
exclusive of any rights to which an Indemnitee may be entitled under the Company&#146;s Certificate of Incorporation, its Bylaws, any agreement, any vote of shareholders or disinterested directors, the DGCL, or otherwise, both as to action in
Indemnitee&#146;s official capacity and as to action in another capacity while holding such office. The indemnification provided under this Agreement shall continue as to Indemnitee for an action taken or not taken while serving in an indemnified
capacity even though he may have ceased to serve in such capacity at the time of any action, suit or other covered proceeding. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>5.
<U>PARTIAL INDEMNIFICATION</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of the expenses, judgments, fines or penalties actually or reasonably incurred by Indemnitee in the investigation, defense, appeal or settlement of any civil or criminal action, suit or proceedings but not, however, for the total
amount thereof, the Company shall nevertheless indemnify Indemnitee for that portion to which Indemnitee is entitled. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>6. <U>MUTUAL ACKNOWLEDGMENT</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Both the Company and Indemnitee acknowledge that in certain instances, federal law or public policy may override applicable state law and
prohibit the Company from indemnifying its directors under this Agreement or otherwise. For example, the Company and Indemnitee acknowledge that the Securities and Exchange Commission (the &#147;SEC&#148;) has taken the position that indemnification
is not permissible for liabilities arising under certain federal securities laws, and federal legislation prohibits indemnification for certain ERISA violations. Indemnitee understands and acknowledges that the Company has undertaken or may be
required in the future to undertake with the SEC to submit the question of indemnification to a court in certain circumstances for a determination of the Company&#146;s right under public policy to indemnify Indemnitee. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>7. <U>LIABILITY INSURANCE</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain
a policy or policies of insurance with reputable, insurance companies providing the directors with coverage for losses from wrongful acts, or to ensure the Company&#146;s performance of its indemnification obligations under this Agreement. Among
other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all such policies of liability insurance, Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company&#146;s directors. Notwithstanding the foregoing, the Company shall have no obligation, to obtain or maintain such insurance if the Company
determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to
provide an insufficient benefit, or if Indemnitee is covered by similar insurance maintained by a parent or Subsidiary of the Company. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>8. <U>SEVERABILITY</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of
applicable law. The Company&#146;s inability, pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. The provisions of this Agreement shall be severable as provided in this
Section&nbsp;8. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this
Agreement that shall not have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>9. <U>EXCEPTIONS</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">9.1 <U>Exceptions to Company&#146;s Obligations</U>. Any other provision to the contrary notwithstanding, the Company shall not be obligated
pursuant to the terms of this Agreement for the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) <U>Claims Initiated by Indemnitee</U>. To indemnify or advance expenses
to Indemnitee with respect to proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, unless said proceedings or claims were authorized by the board of directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) <U>Improper Personal Benefit</U>. To indemnify Indemnitee against liability for any transactions from which Indemnitee, or any Affiliate
of Indemnitee, derived an improper personal benefit, including, but not limited to, self-dealing or usurpation of a corporate opportunity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(c) <U>Dishonesty</U>. To indemnify Indemnitee if a judgment or other final adjudication adverse to Indemnitee established that Indemnitee
committed acts of active and deliberate dishonesty, with actual dishonest purpose and intent, which acts were material to the cause of action so adjudicated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(d) <U>Insured Claims; Paid Claims</U>. To indemnify Indemnitee for expenses or liabilities of any type whatsoever (including but not limited
to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in settlement) which have been paid directly to Indemnitee (i)&nbsp;by an insurance carrier under a policy of liability insurance maintained by the Company, or
(ii)&nbsp;otherwise by any other means. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(e) <U>Claims Under Section</U><U></U><U>&nbsp;16(b)</U>. To indemnify Indemnitee for an
accounting of profits in fact realized from the purchase and sale of securities within the meaning of Section&nbsp;16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>10. <U>MISCELLANEOUS</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.1 <U>Construction of Certain Phrases</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(a) For purposes of this Agreement, references to the &#147;Company&#148; shall include any resulting or surviving corporation in any merger
or consolidation in which the Company (as then constituted) is not the resulting or surviving corporation so that Indemnitee will continue to have the full benefits of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(b) For purposes of this Agreement, references to &#147;other enterprises&#148; shall
include employee benefit plans; references to &#147;fines&#148; shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references to &#147;serving at the request of the Company&#148; shall include any
service as a director, officer, employee or agent of the Company which impose duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants, or beneficiaries; and if
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner &#147;reasonably
believed to be in the best interests of the Company and its shareholders&#148; as referred to in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.2 <U>Successors and
Assigns</U>. This Agreement shall be binding upon the Company and its successors and assigns, and shall inure to the benefit of Indemnitee and Indemnitee&#146;s estate, heirs, legal representatives and assigns. Notwithstanding the foregoing, the
Indemnitee shall have no right or power to voluntarily assign or transfer any rights granted to Indemnitee, or obligations imposed upon the Company, by or pursuant to this Agreement. Further, the rights of the Indemnitee hereunder shall in no event
accrue to the benefit of, or be enforceable by, any judgment creditor or other involuntary transferee of the Indemnitee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.3
<U>Notice</U>. All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (i)&nbsp;if mailed by domestic certified or registered mail with postage prepaid, properly addressed to
the parties at the addresses set forth below, or to such other address as may be furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be, on the third business day after the date postmarked, or (ii)&nbsp;otherwise
notice shall be deemed received when such notice is actually received by the party to whom it is directed. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="80%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="28%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="71%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to Indemnitee:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Dundon Capital Partners</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Attn: Matt Turney</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2100 Ross Avenue, Ste. 550</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Dallas, TX 75201</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to Company:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Topgolf Callaway Brands Corp.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2180 Rutherford Road</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Carlsbad, CA 92008</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Attention: Corporate Secretary</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.4 <U>Consent to Jurisdiction</U>. The Company and Indemnitee each hereby irrevocably consent to the
jurisdiction of the courts of the State of California for all purposes in connection with any action or proceeding which arises out of or related to this Agreement and agree that any action instituted under this Agreement shall be brought only in
the state courts of the State of California. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.5 <U>Choice of Law</U>. This Agreement shall be governed by and its provisions construed
in accordance with the internal laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware, and without regard to choice of law principles. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman"><B>10.6 IRREVOCABLE ARBITRATION OF DISPUTES. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(a) Indemnitee and the Company agree that any dispute, controversy or claim arising hereunder or in any way related to this Agreement, its
interpretation, enforceability, or applicability that cannot be resolved by mutual agreement of the parties shall be submitted to binding arbitration. This includes, but is not limited to, alleged violations of federal, state and/or local statutes,
claims based on any purported breach of duty arising in contract or tort, including breach of contract, breach of the covenant of good faith and fair dealing, violation of public policy, and violation of any statutory, contractual or common law
rights. The parties agree that arbitration is the parties&#146; only recourse for such claims and hereby waive the right to pursue such claims in any other forum, unless otherwise provided by law. Any court action involving a dispute which is not
subject to arbitration shall be stayed pending arbitration of arbitrable disputes. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(b) Indemnitee and the Company agree that the
arbitrator shall have the authority to issue provisional relief. Indemnitee and the Company further agree that each has the right, pursuant to California Code of Civil Procedure section 1281.8, to apply to a court for a provisional remedy in
connection with an arbitrable dispute so as to prevent the arbitration from being rendered ineffective. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(c) Any demand for
arbitration shall be in writing and must be communicated to the other party prior to the expiration of the applicable statute of limitations. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(d) The arbitration shall be conducted pursuant to the procedural rules stated in the Commercial Rules of the American Arbitration
Association (&#147;AAA&#148;) in San Diego. The arbitration shall be conducted in San Diego by a former or retired judge or attorney with at least 10 years experience in commercial-related disputes, or a
<FONT STYLE="white-space:nowrap">non-attorney</FONT> with like experience in the area of dispute, who shall have the power to hear motions, control discovery, conduct hearings and otherwise do all that is necessary to resolve the matter. The parties
must mutually agree on the arbitrator. If the parties cannot agree on the arbitrator after their best efforts, an arbitrator from the American Arbitration Association will be selected pursuant to the American Arbitration Association National Rules
for Resolution of Commercial/Business Disputes. The Company shall pay the costs of the arbitrator&#146;s fees. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(e) The arbitration will be decided upon a written decision of the arbitrator stating
the essential findings and conclusions upon which the award is based. The arbitrator shall have the authority to award damages, if any, to the extent that they are available under applicable law(s). The arbitration award shall be final and binding,
and may be entered as a judgment in any court having competent jurisdiction. Either party may seek review pursuant to California Code of Civil Procedure section 1286, et seq. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(f) It is expressly understood that the parties have chosen arbitration to avoid the burdens, costs and publicity of a court proceeding,
and the arbitrator is expected to handle all aspects of the matter, including discovery and any hearings, in such a way as to minimize the expense, time, burden and publicity of the process, while assuring a fair and just result. In particular, the
parties expect that the arbitrator will limit discovery by controlling the amount of discovery that may be taken (e.g., the number of depositions or interrogatories) and by restricting the scope of discovery only to those matters clearly relevant to
the dispute. However, at a minimum, each party will be entitled to at least one deposition and shall have access to essential documents and witnesses as determined by the arbitrator. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(g) The prevailing party shall be entitled to an award by the arbitrator of reasonable attorneys&#146; fees and other costs reasonably
incurred in connection with the arbitration. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>(h) The provisions of this Section shall survive the expiration or termination of
the Agreement, and shall be binding upon the parties. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>I have read Section&nbsp;10.6 and irrevocably agree to arbitrate any dispute identified
above. </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ MT</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ HM</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(Indemnitee&#146;s initials)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">(Company&#146;s initials)</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.7 <U>Entire Agreement</U>. The provisions of this Agreement contain the entire agreement between the
parties. This Agreement may not be released, discharged, abandoned, changed or modified in any manner except by an instrument in writing signed by the parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">10.8 <U>Counterparts</U>. This Agreement may be executed in counterparts, each of which shall constitute an original and all of which together
shall constitute one and the same instrument. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereby have executed this Agreement to be effective as of
the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>TOPGOLF CALLAWAY BRANDS CORP.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Heather McAllister</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Heather McAllister</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Senior Vice President, General Counsel, and Corporate Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>INDEMNITEE</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ C. Matthew Turney</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">C. Matthew Turney</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

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  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Cover [Abstract]</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CoverAbstract_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cover [Abstract]</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Incorporation State Country Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Incorporation State Country Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, State or Province</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, State or Province</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Amendment Flag</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_AmendmentFlag_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amendment Flag</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Central Index Key</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Central Index Key</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CurrentFiscalYearEndDate" xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Current Fiscal Year End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Current Fiscal Year End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentType" xlink:type="locator" xlink:label="dei_DocumentType" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Type</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentType_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Type</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Document Period End Date</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Document Period End Date</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Registrant Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityRegistrantName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Registrant Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity File Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityFileNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity File Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Tax Identification Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Tax Identification Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Address Line One</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Address Line One</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, City or Town</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, City or Town</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Address, Postal Zip Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">City Area Code</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_CityAreaCode_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">City Area Code</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Local Phone Number</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_LocalPhoneNumber_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Local Phone Number</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Written Communications</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_WrittenCommunications_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Written Communications</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Soliciting Material</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SolicitingMaterial_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Soliciting Material</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Pre Commencement Issuer Tender Offer</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre Commencement Issuer Tender Offer</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_Security12bTitle" xlink:type="locator" xlink:label="dei_Security12bTitle" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security 12b Title</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_Security12bTitle_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security 12b Title</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_TradingSymbol" xlink:type="locator" xlink:label="dei_TradingSymbol" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_TradingSymbol_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trading Symbol</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Security Exchange Name</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_SecurityExchangeName_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Security Exchange Name</link:label>
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityEmergingGrowthCompany" xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" />
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" />
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label">Entity Emerging Growth Company</link:label>
    <link:label xml:lang="en-US" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel">Entity Emerging Growth Company</link:label>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>modg-20230606_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- DFIN - https://www.dfinsolutions.com/ -->
<!-- CTU Version: Release master Build:20221108.6 -->
<!-- Creation date: 6/10/2023 12:09:06 AM Eastern Time -->
<!-- Copyright (c) 2023 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
<link:linkbase
    xmlns:link="http://www.xbrl.org/2003/linkbase"
    xmlns:xlink="http://www.w3.org/1999/xlink"
    xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
    xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
    xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.callawaygolf.com//20230606/taxonomy/role/DocumentDocumentAndEntityInformation" xlink:href="modg-20230606.xsd#Role_DocumentDocumentAndEntityInformation" xlink:type="simple" />
  <link:presentationLink xlink:type="extended" xlink:role="http://www.callawaygolf.com//20230606/taxonomy/role/DocumentDocumentAndEntityInformation">
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CoverAbstract" xlink:type="locator" xlink:label="dei_CoverAbstract" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityIncorporationStateCountryCode" xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityIncorporationStateCountryCode" order="22.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressStateOrProvince" xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressStateOrProvince" order="23.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_AmendmentFlag" xlink:type="locator" xlink:label="dei_AmendmentFlag" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_AmendmentFlag" order="24.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityCentralIndexKey" xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityCentralIndexKey" order="25.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CurrentFiscalYearEndDate" xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CurrentFiscalYearEndDate" order="26.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
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    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" />
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    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityRegistrantName" xlink:type="locator" xlink:label="dei_EntityRegistrantName" />
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    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityFileNumber" xlink:type="locator" xlink:label="dei_EntityFileNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityFileNumber" order="31.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityTaxIdentificationNumber" xlink:type="locator" xlink:label="dei_EntityTaxIdentificationNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityTaxIdentificationNumber" order="32.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressAddressLine1" xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressAddressLine1" order="33.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressCityOrTown" xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressCityOrTown" order="34.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_EntityAddressPostalZipCode" xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_EntityAddressPostalZipCode" order="35.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_CityAreaCode" xlink:type="locator" xlink:label="dei_CityAreaCode" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_CityAreaCode" order="36.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_LocalPhoneNumber" xlink:type="locator" xlink:label="dei_LocalPhoneNumber" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_LocalPhoneNumber" order="37.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_WrittenCommunications" xlink:type="locator" xlink:label="dei_WrittenCommunications" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_WrittenCommunications" order="38.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SolicitingMaterial" xlink:type="locator" xlink:label="dei_SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_SolicitingMaterial" order="39.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementTenderOffer" order="40.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_PreCommencementIssuerTenderOffer" xlink:type="locator" xlink:label="dei_PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_PreCommencementIssuerTenderOffer" order="41.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
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    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_Security12bTitle" order="42.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
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    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_CoverAbstract" xlink:to="dei_TradingSymbol" order="43.001" priority="2" use="optional" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" />
    <link:loc xlink:href="https://xbrl.sec.gov/dei/2022/dei-2022.xsd#dei_SecurityExchangeName" xlink:type="locator" xlink:label="dei_SecurityExchangeName" />
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  </link:presentationLink>
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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.23.1</span><table class="report" border="0" cellspacing="2" id="idm139959362437040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Jun. 06, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation State Country Code</a></td>
<td class="text">DE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">CA<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000837465<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun.  06,  2023<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">TOPGOLF CALLAWAY BRANDS CORP.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-10962<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">95-3797580<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">2180 RUTHERFORD ROAD<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">CARLSBAD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">92008-7328<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(760)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">931-1771<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre Commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre Commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Security 12b Title</a></td>
<td class="text">Common Stock, $0.01 par value per share<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">MODG<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
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#

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
