<SEC-DOCUMENT>0001144204-13-014827.txt : 20130313
<SEC-HEADER>0001144204-13-014827.hdr.sgml : 20130313
<ACCEPTANCE-DATETIME>20130313162546
ACCESSION NUMBER:		0001144204-13-014827
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130311
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130313
DATE AS OF CHANGE:		20130313

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARRETT BUSINESS SERVICES INC
		CENTRAL INDEX KEY:			0000902791
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HELP SUPPLY SERVICES [7363]
		IRS NUMBER:				520812977
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21886
		FILM NUMBER:		13687739

	BUSINESS ADDRESS:	
		STREET 1:		8100 NE PARKWAY DRIVE
		STREET 2:		SUITE 200
		CITY:			VANCOUVER
		STATE:			WA
		ZIP:			98662
		BUSINESS PHONE:		(800) 494-5669

	MAIL ADDRESS:	
		STREET 1:		8100 NE PARKWAY DRIVE
		STREET 2:		SUITE 200
		CITY:			VANCOUVER
		STATE:			WA
		ZIP:			98662
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">March 11, 2013</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BARRETT BUSINESS SERVICES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
charter)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of incorporation)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">0-21886</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(SEC File Number)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">52-0812977</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer Identification No.)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 46%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8100 N.E. Parkway Drive, Suite 200</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vancouver, Washington</P></TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><BR>
98662</TD>
    <TD STYLE="width: 16%; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(360) 828-0700</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form&nbsp;8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Written communications
pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">o</FONT> Soliciting material
pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">o</FONT>
Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17&nbsp;CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">o</FONT>
Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17&nbsp;CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 11, 2013, the Board of Directors of Barrett Business
Services, Inc. (the &quot;Company&quot;), approved amendments to the Company's bylaws, effective March 11, 2013. The amendments:
(i) clarify that directors will be elected by a plurality of all the votes cast at a meeting of stockholders duly called and at
which a quorum is present; and (ii) add a provision governing the conduct of stockholder meetings, including (a) specifying that
the chairman of the board will chair the meeting or, in his or her absence, the vice chairman or the Company's president, in that
order, and (b) giving the meeting chairman sole discretion to prescribe rules and procedures and to take action for the proper
conduct of the meeting, including limiting attendance and participation at the meeting to stockholders of record, determining when
the polls open and close, recessing or adjourning the meeting to a later date, and maintaining order and security at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The amendments to the Company's bylaws are attached as Exhibit
3.1 to this report and are incorporated by reference.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d) Exhibits. The following exhibits are filed with this Form
8-K:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.1 Amendments to Bylaws of Barrett Business Services, Inc.,
effective March 11, 2013.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3.2 Bylaws of Barrett Business Services, Inc., as amended through
March 11, 2013.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">BARRETT BUSINESS SERVICES, INC.</FONT><BR>
<BR>
</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%"><BR>
<FONT STYLE="font-size: 10pt">Dated:&nbsp;&nbsp;March 13, 2013</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid"><FONT STYLE="font-size: 10pt">/s/ James D. Miller</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 2pt"><FONT STYLE="font-size: 10pt">James D. Miller</FONT><BR>
<FONT STYLE="font-size: 10pt">Vice President-Finance, Treasurer and Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<DESCRIPTION>EXHIBIT 3.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.1</B></P>



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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bylaw Amendments Adopted Effective March
11, 2013</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Article I, Section 1.5, of the Bylaws (the
&quot;Bylaws&quot;) of Barrett Business Services, Inc., is amended to read in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<B>Section 1.5&#9;Quorum; Manner of
Acting</B>. The presence in person or by proxy of stockholders entitled to cast a majority of all the votes entitled to be cast
at the meeting shall constitute a quorum. Each share may be voted for as many individuals as there are directors to be elected
and for whose election the share is entitled to be voted. A plurality of all the votes cast at a meeting of stockholders duly called
and at which a quorum is present is sufficient to elect a director. A majority of the votes cast at a meeting of stockholders duly
called and at which a quorum is present shall be sufficient to approve any other matter which may properly come before the meeting,
unless more than a majority of the votes cast is required by statute or by the charter of the corporation. Unless otherwise provided
by the Maryland General Corporation Law or by the corporation's charter, each outstanding share, regardless of class, shall be
entitled to one vote on each matter submitted to a vote at a meeting of stockholders.&quot;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Section 1.10 is renumbered as Section 1.11
and a new Section 1.10 is added to read in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&quot;<B>Section 1.10&#9;Organization and
Conduct of Stockholder Meetings</B>. Each meeting of stockholders shall be conducted by the chairman of the board as chairman of
the meeting or, in the absence of the chairman of the board, by the vice chairman of the board or, in the absence of the vice chairman
of the board or a vacancy in the position, by the president. The order of business and all other matters of procedure at any meeting
of stockholders shall be determined by the chairman of the meeting. The chairman of the meeting may prescribe such rules, regulations
and procedures and take such action as, in the discretion of the chairman and without any action by the stockholders, are appropriate
for the proper conduct of the meeting, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">a.&#9;restricting admission to the
time set for the commencement of the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">b.&#9;limiting attendance at the
meeting to stockholders of record of the corporation, their duly authorized proxies and such other individuals as the chairman
of the meeting may determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">c.&#9;limiting participation at
the meeting on any matter to stockholders of record of the corporation entitled to vote on such matter, their duly authorized proxies
and other such individuals as the chairman of the meeting may determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">d.&#9;limiting the time allotted
to questions or comments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">e.&#9;determining when and for how
long the polls should be opened and when the polls should be closed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">f.&#9;maintaining order and security
at the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">g.&#9;removing any stockholder or
any other individual who refuses to comply with meeting procedures, rules or guidelines as set forth by the chairman of the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">h.&#9;concluding a meeting or recessing
or adjourning the meeting to a later date and time and at a place announced at the meeting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">i.&#9;complying with any state and
local laws and regulations concerning safety and security.&quot;</P>



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<SEQUENCE>3
<FILENAME>v338055_ex3-2.htm
<DESCRIPTION>EXHIBIT 3.2
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.2</B></P>



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

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

</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>BYLAWS OF BARRETT BUSINESS
SERVICES, INC.</B><BR>
<B>As Amended Through March 11, 2013</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
I</B></FONT><B> STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.1&#9;Annual Meeting.</B> The
Annual Meeting of the stockholders shall be held during the third week of May of each year on the date and time or at such other
date and time in May of each year as the board of directors may establish, for the purpose of electing directors and for the transaction
of such other business as may come before the meeting. The board of directors shall timely establish the annual meeting date and
time in conjunction with the notice of meeting requirements of Section 1.4, of these Bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.2&#9;Special Meetings.</B> Special
meetings of the stockholders, for any purpose or purposes, may be called by the president or by the board of directors, and shall
be called by the secretary upon written request by stockholders entitled to cast 25&nbsp;percent of all votes entitled to be cast
at the meeting stating the purpose of the meeting and the matters proposed to be acted upon at the meeting and upon payment by
such stockholders to the corporation of the costs of the notice of the meeting. Notwithstanding the foregoing, a special meeting
need not be called by the secretary to consider any matter which is substantially the same as a matter voted on at any special
meeting of the stockholders held during the preceding 12 months unless requested by stockholders entitled to cast a majority of
all votes entitled to be cast at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.3&#9;Place of Meeting.</B> The
place of meeting for all annual and special meetings of the stockholders shall be such place within the United States as shall
be determined by the board of directors. In the absence of any such determination, all meetings of stockholders shall be held at
the principal office of the corporation in the state of Washington.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.4&#9;Notice of Meeting; Waiver.</B>
Written or printed notice stating the place, day, and hour of the meeting and, in case of a special meeting or if otherwise required
by law, the purpose or purposes for which the meeting is called, shall be given by the secretary not earlier than 90 nor less than
10 days before the date of the meeting, either personally or by mail, to each stockholder of record entitled to vote at or to receive
notice of such meeting. If given personally, such notice shall be effective when delivered to the stockholder or when left at the
stockholder's residence or usual place of business. If given by mail, such notice shall be effective when deposited in the United
States mail, addressed to the stockholder at his or her address as shown in the corporation's current record of stockholders, with
postage thereon prepaid. A stockholder entitled to notice of a meeting waives such notice if he or she is present at the meeting
in person or by proxy. A written waiver of notice of a meeting signed by a stockholder entitled to such notice, whether before
or after the time stated therein, which is filed with the records of stockholders meetings, shall be equivalent to the giving of
such notice. A meeting of stockholders convened on the date for which it was called may be adjourned from time to time without
further notice to a date not more than 120 days after the original record date for the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.5&#9;Quorum; Manner of Acting.</B>
The presence in person or by proxy of stockholders entitled to cast a majority of all the votes entitled to be cast at the meeting
shall constitute a quorum. Each share may be voted for as many individuals as there are directors to be elected and for whose election
the share is entitled to be voted. A plurality of all the votes cast at a meeting of stockholders duly called and at which a quorum
is present is sufficient to elect a director. A majority of the votes cast at a meeting of stockholders duly called and at which
a quorum is present shall be sufficient to approve any other matter which may properly come before the meeting, unless more than
a majority of the votes cast is required by statute or by the charter of the corporation. Unless otherwise provided by the Maryland
General Corporation Law or by the corporation's charter, each outstanding share, regardless of class, shall be entitled to one
vote on each matter submitted to a vote at a meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.6&#9;Proxies.</B> At all meetings
of stockholders, a stockholder may vote by proxy executed in writing by the stockholder or by his or her duly authorized attorney-in-fact.
Such proxy shall be filed with the secretary of the corporation before or at the time of the meeting. No proxy shall be valid after
11 months from the date of its execution unless otherwise expressly provided in the proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.7&#9;Voting of Shares.</B> Each
outstanding share of the corporation's common stock shall be entitled to one vote upon each matter submitted to a vote at a meeting
of the stockholders except that shares owned, directly or indirectly, by another corporation in which the corporation owns, directly
or indirectly, shares entitled to cast a majority of all the votes entitled to be cast by all shares of such other corporation
shall not be voted at any meeting or counted in determining the total number of outstanding shares at any given time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.8&#9;Acceptance of Votes.</B>
If the name signed on a vote, consent, waiver, or proxy appointment corresponds to the name of a stockholder, the corporation shall
be entitled to accept the vote, consent, waiver, or proxy appointment and give it effect as the act of the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">If the name signed on a vote, consent, waiver,
or proxy appointment does not correspond to the name of its stockholder, the corporation shall nevertheless be entitled to accept
the vote, consent, waiver, or proxy appointment and give it effect as the act of the stockholder if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">a.&#9;The stockholder is a corporation,
and the name signed purports to be that of the president, a vice-president, or a proxy appointed by either of them or by another
person appointed under a bylaw or resolution of the board of directors of such stockholder, a certified copy of which is presented
to the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">b.&#9;The stockholder is an entity,
other than a corporation, and the name signed purports to be that of an officer or agent of the entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">c.&#9;The name signed purports to
be that of an administrator, executor, guardian, or conservator representing the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">d.&#9;The name signed purports to
be that of a receiver or trustee in bankruptcy of the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">e.&#9;The name signed purports to
be that of a pledgee, beneficial owner, or attorney-in-fact of the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">f.&#9;Two or more persons are the
stockholder whether as fiduciaries, members of a partnership, joint tenants, tenants in common, tenants by the entirety, or otherwise,
and the name signed purports to be the name of at least one of the co-owners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The corporation shall be entitled to reject
a vote, consent, waiver, or proxy if the secretary or other officer or agent authorized to tabulate votes, acting in good faith,
has reasonable basis for doubt about the validity of the signature on it or about the signatory's authority to sign for the stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.9&#9;Action Without Meeting.</B>
Any action required or permitted by the Maryland General Corporation Law to be taken at a meeting of the stockholders may be taken
without a meeting if there are filed with the records of stockholders meetings a consent in writing which sets forth the action
so taken signed by each stockholder entitled to vote on the matter and a written waiver of any right to dissent signed by each
stockholder entitled to notice of the meeting but not entitled to vote at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.10&#9;Organization and Conduct
of Stockholder Meetings.</B> Each meeting of stockholders shall be conducted by the chairman of the board as chairman of the meeting
or, in the absence of the chairman of the board, by the vice chairman of the board or, in the absence of the vice chairman of the
board or a vacancy in the position, by the president. The order of business and all other matters of procedure at any meeting of
stockholders shall be determined by the chairman of the meeting. The chairman of the meeting may prescribe such rules, regulations
and procedures and take such action as, in the discretion of the chairman and without any action by the stockholders, are appropriate
for the proper conduct of the meeting, including, without limitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">a.&#9;restricting admission to the
time set for the commencement of the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">b.&#9;limiting attendance at the
meeting to stockholders of record of the corporation, their duly authorized proxies and such other individuals as the chairman
of the meeting may determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">c.&#9;limiting participation at
the meeting on any matter to stockholders of record of the corporation entitled to vote on such matter, their duly authorized proxies
and other such individuals as the chairman of the meeting may determine;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">d.&#9;limiting the time allotted
to questions or comments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">e.&#9;determining when and for how
long the polls should be opened and when the polls should be closed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">f.&#9;maintaining order and security
at the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">g.&#9;removing any stockholder or
any other individual who refuses to comply with meeting procedures, rules or guidelines as set forth by the chairman of the meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">h.&#9;concluding a meeting or recessing
or adjourning the meeting to a later date and time and at a place announced at the meeting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">i.&#9;complying with any state and
local laws and regulations concerning safety and security.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 1.11&#9;Advance Notice by Stockholders
of Nominations and Proposals of Business.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">a.&#9;Nominations of persons for
election to the board of directors and proposals of business to be transacted by the stockholders may be made at an Annual Meeting
of stockholders, (or in the case of election of directors, at a special meeting of stockholders held in lieu of an Annual Meeting
under Section 1.2 of these Bylaws) (1)&nbsp;pursuant to the corporation's proxy materials with respect to such meeting, (2)&nbsp;by
or at the direction of the board of directors or (3)&nbsp;by any stockholder at the time of the giving of the notice required in
subsection (b) of this Section 1.11, who is entitled to vote at the meeting and who has complied with the notice procedures set
forth in this Section 1.11. The foregoing clause&nbsp;(3) shall be the exclusive means for a stockholder to make nominations or
propose business (other than matters included in the corporation's proxy materials pursuant to Rule&nbsp;14a-8 or Rule&nbsp;14a-11
under the Securities Exchange Act of 1934 (the &quot;Exchange Act&quot;)) at an Annual Meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">b.&#9;In order to assure that stockholders
and the corporation have a reasonable opportunity to consider nominations and other business proposed to be brought before a meeting
of stockholders and to allow for full information to be distributed to stockholders, a stockholder properly may bring nominations
or other business before an annual meeting of stockholders pursuant to clause&nbsp;(3) of subsection&nbsp;a above, only if (i)&nbsp;the
stockholder has given timely notice thereof in writing to the secretary of the corporation, and (ii)&nbsp;any such business is
a proper matter for stockholder action under the Maryland General Corporation Law. To be timely, a stockholder's notice shall be
received by the secretary at the principal executive offices of the corporation not less than 90 or more than 120&nbsp;days prior
to the one-year anniversary of the date on which the corporation first mailed its proxy materials for the preceding year's Annual
Meeting of stockholders; provided, however, that, subject to the last sentence of this subsection&nbsp;b, if the meeting is convened
more than 30&nbsp;days prior to or delayed by more than 30 days after the anniversary of the preceding year's Annual Meeting, or
if no Annual Meeting was held in the preceding year, notice by the stockholder to be timely must be received not later than the
close of business on the later of (i)&nbsp;the 90th day before such Annual Meeting or (ii)&nbsp;the 10th day following the day
on which public announcement of the date of such meeting is first made. In no event shall an adjournment or postponement of an
Annual Meeting for which notice has been given commence a new time period for the giving of a stockholder's notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">c.&#9;Such stockholder's notice
shall set forth:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(i)&#9;if such notice pertains to
the nomination of directors, as to each person whom the stockholder proposes to nominate for election or reelection as a director
all information relating to such person as would be required to be disclosed in solicitations of proxies for the election of such
nominee as a director in an election contest, or is otherwise required, pursuant to Regulation 14A under the Exchange Act, and
such person's written consent to serve as a director if elected;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(ii)&#9;as to any business that the
stockholder proposes to bring before the meeting, a brief description of such business, the reasons for conducting such business
at the meeting and any material interest of such stockholder in such business; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 1in">(iii)&#9;as to (A)&nbsp;the stockholder
giving the notice and (B)&nbsp;each beneficial owner of shares of the corporation on whose behalf the nomination or proposal is
made (each, a &quot;party&quot;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">(1)&#9;the name and address of each
such party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">(2)&#9;(A)&nbsp;the number of shares
of the corporation that are owned, directly or indirectly, beneficially and of record by each such party, (B)&nbsp;a description
of any agreement, arrangement or understanding (including any derivative or short positions, profit interests, options, hedging
transactions, and borrowed or loaned shares, regardless of whether settled in shares or cash) that has been entered into as of
the date of the stockholder's notice by, or on behalf of, such stockholder or beneficial owner, the effect or intent of which is
to mitigate loss, manage risk or benefit from changes in the share price of the corporation's capital stock, or increase or decrease
the voting power of the stockholder or beneficial owner with respect to shares of stock of the corporation, including the notional
number of shares that are the subject of such agreement, arrangement or understanding, (C)&nbsp;a description of any proxy, contract,
arrangement, understanding, or relationship pursuant to which any such party has a right to vote, directly or indirectly, any shares
of the corporation, (D)&nbsp;a description of any agreement, arrangement or understanding (whether or not in writing) between or
among such stockholder or beneficial owner and any other person relating to acquiring, holding, voting or disposing of any shares
of the corporation, including the number of shares that are the subject of such agreement, arrangement or understanding, (which
information shall be supplemented by such stockholder or such beneficial owner, as the case may be, not later than ten (10) days
after the record date for the meeting to disclose such ownership as of the record date); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">(3)&#9;any other information relating
to each such party that would be required to be disclosed in a proxy statement or other filings required to be made in connection
with solicitations of proxies for, as applicable, the proposal and/or the election of directors in a contested election pursuant
to Section&nbsp;14 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">d.&#9;Except as provided in subsection&nbsp;g
below, a person shall not be eligible for election or re-election as a director at an Annual Meeting unless (i)&nbsp;the person
is nominated by a stockholder in accordance with this Section 1.11 or (ii)&nbsp;the person is nominated by or at the direction
of the board of directors. Except as provided in subsection&nbsp;g below, only such business shall be conducted at an Annual Meeting
of stockholders as shall have been brought before the meeting in accordance with the procedures set forth in this Section 1.11.
The chair of the meeting shall have the power and the duty to determine whether a nomination or any business proposed to be brought
before the meeting has been made in accordance with the procedures set forth in these Bylaws and, if any proposed nomination or
business is not in compliance with these Bylaws, to declare that such defectively proposed business or nomination shall not be
presented for stockholder action at the meeting and shall be disregarded. Notwithstanding the foregoing provisions of this Section
1.11, if the stockholder (or a qualified representative of the stockholder) proposing a nominee for director or business to be
conducted at a meeting does not appear at the meeting of stockholders of the corporation to present such nomination or business,
such nomination shall be disregarded and such proposed business shall not be transacted, notwithstanding that proxies in respect
of such vote may have been received by the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">e.&#9;For purposes of this Section
1.11, &quot;public announcement&quot; shall mean disclosure in a press release reported by the Dow Jones News Service, Associated
Press or a comparable national news service or in a document publicly filed by the corporation with the Securities and Exchange
Commission pursuant to the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">f.&#9;Notwithstanding the foregoing
provisions of this Section 1.11, a stockholder shall also comply with all applicable requirements of the Exchange Act and the rules
and regulations thereunder with respect to matters set forth in this Section 1.11Section 1.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 1in">g.&#9;Nothing in this Section&nbsp;10
shall be deemed to affect any rights of stockholders to request (i)&nbsp;inclusion of proposals in the corporation's proxy statement
pursuant to Rule 14a-8 under the Exchange Act or (ii)&nbsp;inclusion of nominees in the corporation's proxy statement pursuant
to Rule&nbsp;14a-11 under the Exchange Act. Subject to Rule&nbsp;14a-8 and Rule&nbsp;14a-11 under the Exchange Act, nothing in
these Bylaws shall be construed to permit any stockholder, or give any stockholder the right, to include or have disseminated or
described in the corporation's proxy statement any nomination of a director or directors or any other business proposal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
II</B></FONT><B> BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.1&#9;General Powers.</B> The
business and affairs of the corporation shall be managed under the direction of its board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.2&#9;Number, Tenure, and Qualifications.</B>
The board of directors shall consist of not more than nine persons and not less than three persons, the exact number within such
specified limits to be fixed from time to time by resolution of a majority of the entire board, provided that so long as there
are less than three stockholders the number of directors may be fixed at less than three but not less than the number of stockholders.
Each director shall hold office until the next annual meeting of the stockholders and until his or her successor shall have been
elected and qualified unless sooner removed from office as hereinafter provided. Directors need not be residents of the state of
Maryland or stockholders of the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.3&#9;Regular Meetings.</B> A
regular meeting of the board of directors shall be held without other notice than this bylaw immediately after, and at the same
place as, the annual meeting of stockholders. The board of directors may provide by resolution the time and place, either within
or without the state of Maryland, for the holding of additional regular meetings without other notice than such resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.4&#9;Special Meetings.</B> Special
meetings of the board of directors may be called by or at the request of the president or any two directors. The person or persons
authorized to call special meetings of the board of directors may fix any place, either within or without the state of Maryland,
as the place for holding any special meeting of the board of directors called by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.5&#9;Notice; Waiver.</B> Notice
of the date, time, and place of any special meeting shall be given at least 24 hours prior thereto by written notice delivered
personally or given by facsimile transmission, e-mail, or other form of electronic transmission, or by mail or private carrier,
to each director at his or her business address, facsimile number, or e-mail address, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Such notice shall be deemed effective at the
earliest of the following: (a)&nbsp;when received, (b)&nbsp;when transmitted by facsimile, e-mail, or other form of electronic
transmission, (c)&nbsp;three days after its deposit in the United States mail, as evidenced by the postmark, if mailed postpaid
and correctly addressed, and (d)&nbsp;on the date shown on the return receipt, if sent by registered or certified mail, return
receipt requested, and the receipt is signed or sent by or on behalf of the director. A director's attendance at, or participation
in, a meeting shall constitute a waiver of notice of such meeting, except where a director at the beginning of the meeting, or
promptly upon the director's arrival, objects to holding of the meeting or the transacting of business at the meeting and does
not thereafter vote for or assent to action taken at the meeting. A written waiver, or waiver by e-mail or other form of electronic
transmission, of notice of a meeting signed by a director entitled to such notice, whether before or after the time stated therein,
which specifies the meeting for which notice is waived and which is filed with the records of the meeting shall be equivalent to
the giving of such notice. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the
board of directors need be specified in the notice or waiver of notice of such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.6&#9;Quorum.</B> A majority of
the number of directors fixed from time to time pursuant to Section 2.2 shall constitute a quorum for the transaction of business
at any meeting of the board of directors, but, if less than such majority is present at a meeting, a majority of the directors
present may adjourn the meeting from time to time without further notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.7&#9;Manner of Acting.</B> The
action of a majority of the directors present at a meeting at which a quorum is present shall be the act of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.8&#9;Vacancies.</B> Any vacancy
occurring in the board of directors, except a vacancy resulting from an increase in the number of directors, may be filled by the
affirmative vote of a majority of the remaining directors, whether or not sufficient to constitute a quorum. A vacancy resulting
from an increase in the number of directors may be filled by the affirmative vote of a majority of the entire board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.9&#9;Presumption of Assent.</B>
A director who is present at a meeting of the board of directors when corporate action is taken shall be presumed to have assented
to the action taken unless the director announces his or her dissent at the meeting and (a)&nbsp;the director's dissent is entered
in the minutes of the meeting; or (b)&nbsp;the director files his or her written dissent with the secretary of the meeting before
its adjournment; or (c)&nbsp;the director forwards his or her written dissent within 24 hours after the meeting is adjourned, by
registered or certified mail, to the secretary of the meeting or of the corporation. Such right to dissent shall not apply to a
director who voted in favor of such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.10&#9;Removal of Directors.</B>
All or any number of the directors may be removed by the stockholders with or without cause at a meeting expressly called for that
purpose by the affirmative vote of a majority of all votes entitled to be cast for the election of directors. The notice of such
meeting shall state that the purpose or one of the purposes of the meeting is the removal of the director or directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.11&#9;Compensation.</B> By resolution
of the board of directors, each director may be paid an annual fee as director and, in addition thereto, a fixed sum for attendance
at each meeting of the board of directors and executive committee or other committees and his expenses, if any, of attendance at
any such meeting. No such payment shall preclude any director from serving the corporation in any other capacity and receiving
compensation therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.12&#9;Action Without Meeting.</B>
Any action required or permitted by the Maryland General Corporation Law to be taken at a meeting of the board of directors may
be taken without a meeting if a consent in writing which sets forth the action so taken is signed by each member of the board of
directors and filed with the minutes of proceedings of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.13&#9;Meetings By Telephone.</B>
Meetings of the board of directors may be held by means of conference telephone or similar communications equipment if all persons
participating in the meeting can hear each other at the same time, and such participation shall constitute presence in person at
the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 2.14&#9;Chairman and Vice Chairman.</B>
The board of directors shall appoint from among its members a chairman and a vice chairman who shall serve at the pleasure of the
board of directors. The chairman, or in his absence the vice chairman, shall preside at the meetings of the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
III</B></FONT><B> EXECUTIVE COMMITTEE AND OTHER COMMITTEES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.1&#9;Appointment.</B> The board
of directors may appoint from among its members an executive committee to consist of a chairman and one or more other directors.
The appointment of such committee, the delegation of authority to it or action by it under that authority shall not constitute
of itself compliance by any director not a member of the committee with the standard provided in the Maryland General Corporation
Law for the performance of duties by directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.2&#9;Authority.</B> The executive
committee, when the board of directors is not in session, shall have and may exercise all the authority of the board of directors
except to the extent, if any, that such authority shall be limited by the resolution appointing the executive committee and except
also that neither the executive committee nor any other committee of the board of directors appointed pursuant to Section 3.9 shall
have the authority to (a)&nbsp;authorize dividends on stock, except as permitted under the Maryland General Corporation Law; (b)&nbsp;issue
stock, except as provided in Section 3.10; (c)&nbsp;recommend to the stockholders any action which requires stockholder approval;
(d)&nbsp;amend the bylaws; or (e)&nbsp;approve a merger or share exchange which does not require stockholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.3&#9;Tenure.</B> Each member
of the executive committee shall hold office until the next regular annual meeting of the board of directors following his or her
appointment and until his or her successor is appointed as a member of the executive committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.4&#9;Meetings; Notice; Waiver.</B>
Regular meetings of the executive committee or any other committee of the board of directors appointed pursuant to Section 3.9
may be held without notice at such times and places as the committee may fix from time to time by resolution. Special meetings
of the executive committee or any such other committee may be called by any member thereof upon not less than 24 hours' notice
stating the place, date and hour of the meeting. The provisions of Section 2.5 shall apply to the method for giving notice of special
meetings of the executive committee or any such other committee and to the waiver of notice of any such meetings. The notice of
a meeting of the executive committee or any such other committee need not state the business proposed to be transacted at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.5&#9;Quorum; Manner of Acting.</B>
A majority of the members of the executive committee or any such other committee shall constitute a quorum for the transaction
of business at any meeting thereof, and the act of a majority of the members present at a meeting at which a quorum is present
shall be the act of the committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.6&#9;Vacancies.</B> Any vacancy
in the executive committee or any such other committee may be filled by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.7&#9;Resignations and Removal.</B>
Any member of the executive committee or any such other committee may be removed at any time with or without cause by the board
of directors. Any member of the executive committee or any such other committee may resign as a member of the committee at any
time by giving written notice to the chairman of the board or secretary of the corporation, and, unless otherwise specified therein,
the acceptance of such resignation shall not be necessary to make it effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.8&#9;Procedure.</B> The chairman
of the executive committee shall be the presiding officer of the executive committee. The executive committee and any such other
committee shall fix its own rules of procedure which shall not be inconsistent with these bylaws. The committee shall keep regular
minutes of its proceedings and report the same to the board of directors for its information at the meeting thereof held next after
the proceedings shall have been taken.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.9&#9;Appointment of Other Committees
of the Board of Directors.</B> The board of directors may from time to time create any other committee or committees of the board
of directors and appoint members of the board of directors to serve thereon. Each member of any such committee shall hold office
until the next regular annual meeting of the board of directors following his or her appointment and until his or her successor
is appointed as a member of such committee. Each committee shall have one or more members and, to the extent specified by the board
of directors, may exercise the powers of the board subject to the limitations set forth in Section 3.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.10&#9;Issuance of Stock.</B>
If the board of directors has given general authorization for the issuance of stock providing for or establishing a method or procedure
for determining the maximum number of shares to be issued, a committee of the board of directors, in accordance with that general
authorization or any stock option plan or other plan or program adopted by the board of directors, may authorize or fix the terms
of stock subject to classification or reclassification and the terms on which any stock may be issued, including all terms and
conditions required or permitted to be established or authorized by the board of directors under the Maryland General Corporation
Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.11&#9;Action Without a Meeting.</B>
Any action that may be taken by the executive committee or any such other committee at a meeting may be taken without a meeting
if a consent in writing which sets forth the action so taken is signed by each member of the committee and filed with the minutes
of proceedings of the committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 3.12&#9;Meetings By Telephone.</B>
Meetings of any committee of the board of directors may be held by means of conference telephone or similar communications equipment
if all persons participating in the meeting can hear each other at the same time, and such participation shall constitute presence
in person at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
IV</B></FONT><B> OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.1&#9;Number.</B> The officers
of the corporation shall be a president, a secretary and a treasurer, each of whom shall be elected by the board of directors.
The board of directors may elect one or more vice presidents (the number thereof to be determined by the board of directors) and
such other officers and assistant officers as may be deemed necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.2&#9;Election and Term of Office.</B>
The officers of the corporation shall be elected annually at the first meeting of the board of directors held after each annual
meeting of the stockholders. A person may hold more than one office but may not serve concurrently as both president and vice president
of the corporation. Each officer shall hold office until his or her successor shall have been duly elected, or until his or her
death, or until he or she shall resign or shall have been removed in the manner hereinafter provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.3&#9;Removal.</B> The board of
directors may remove any officer at any time. The election of an officer shall not of itself create contract rights, and the resignation
or removal of an officer shall not affect the contract rights, if any, of the corporation or the officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.4&#9;Vacancies.</B> A vacancy
in any office because of death, resignation, removal, or otherwise may be filled by the board of directors for the unexpired portion
of the term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.5&#9;President.</B> The president
shall be the chief executive officer of the corporation and, subject to the control of the board of directors, shall in general
supervise and control all the business and affairs of the corporation. He or she shall preside at all meetings of the stockholders
and, in the absence of the chairman or vice chairman, at all meetings of the board of directors. He or she may sign, with the secretary
or any other proper officer of the corporation thereunto authorized by the board of directors, certificates for shares of stock
of the corporation and any deeds, mortgages, bonds, contracts, or other instruments which the board of directors has authorized
to be executed, except in cases where the signing and execution thereof shall be expressly delegated by the board of directors,
or by these bylaws to some other officer or agent of the corporation, or shall be required by law to be otherwise signed or executed;
and in general he or she shall perform all duties incident to the office of president and such other duties as may be prescribed
by the board of directors from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.6&#9;Vice Presidents.</B> In
the absence of the president, or in the event of his or her death, inability, or refusal to act, the vice president (or, in the
event there be more than one vice president, the vice presidents in the order designated at the time of their election, or, in
the absence of any designation, then in the order of their election) shall perform the duties of the president and, when so acting,
shall have all the powers of and be subject to all the restrictions upon the president. Any vice president may sign, with the secretary
or an assistant secretary, certificates for shares of stock of the corporation; and shall perform such other duties as from time
to time may be assigned to him or her by the president or by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.7&#9;Secretary.</B> The secretary
shall (a)&nbsp;keep the minutes of the stockholders' and of the board of directors' meetings in one or more books provided for
that purpose; (b)&nbsp;see that all notices are duly given in accordance with the provisions of these bylaws or as required by
law; (c)&nbsp;be custodian of the corporate records and responsible for the authentication of such records; (d)&nbsp;keep or cause
to be kept a register of the post office address of each stockholder which shall be furnished to the secretary by such stockholder;
(e)&nbsp;sign, with the president or a vice president, certificates for shares of stock of the corporation, the issuance of which
shall have been authorized by the board of directors; (f)&nbsp;have general charge of the stock transfer books of the corporation;
and (g)&nbsp;in general perform all duties incident to the office of secretary and such other duties as from time to time may be
assigned to him or her by the president or by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.8&#9;Treasurer.</B> If required
by the board of directors, the treasurer shall give a bond for the faithful discharge of his or her duties in such sum and with
such surety or sureties as the board of directors shall determine. He or she shall (a)&nbsp;have charge and custody of and be responsible
for all funds and securities of the corporation, receive and give receipts for moneys due and payable to the corporation from any
source whatsoever, and deposit all such moneys in the name of the corporation in such banks, trust companies, or other depositaries
as shall be selected in accordance with the provisions of ARTICLE V of these bylaws; and (b)&nbsp;in general perform all the duties
incident to the office of treasurer and such other duties as from time to time may be assigned to him or her by the president or
by the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.9&#9;Assistant Secretaries and
Assistant Treasurers.</B> The assistant secretaries, when authorized by the board of directors, may sign, with the president or
a vice president, certificates for shares of stock of the corporation, the issuance of which shall have been authorized by the
board of directors. The assistant treasurers shall, respectively, if required by the board of directors, give bonds for the faithful
discharge of their duties in such sums and with such sureties as the board of directors shall determine. The assistant secretaries
and assistant treasurers, in general, shall perform such duties as shall be assigned to them by the secretary or the treasurer,
respectively, or by the president or the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 4.10&#9;Salaries.</B> The salaries
of the officers shall be fixed from time to time by the board of directors and no officer shall be prevented from receiving such
salary by reason of the fact that he or she is also a director of the corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
V</B></FONT><B> CONTRACTS, LOANS, CHECKS, AND DEPOSITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 5.1&#9;Contracts.</B> The board
of directors may authorize any officer or officers, agent or agents, to enter into any contract or execute and deliver any instrument
in the name of and on behalf of the corporation; and such authority may be general or confined to specific instances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 5.2&#9;Loans.</B> No loans shall
be contracted on behalf of the corporation and no evidences of indebtedness shall be issued in its name unless authorized by a
resolution of the board of directors. Such authority may be general or confined to specific instances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 5.3&#9;Checks, Drafts, Etc.</B>
All checks, drafts, or other orders for the payment of money, notes, or other evidences of indebtedness issued in the name of the
corporation shall be signed by such officer or officers, agent or agents, of the corporation and in such manner as shall from time
to time be determined by resolution of the board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 5.4&#9;Deposits.</B> All funds
of the corporation not otherwise employed shall be deposited from time to time to the credit of the corporation in such banks,
trust companies, or other depositaries as selected by the officer or officers authorized by the board of directors to make such
selection.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
VI</B></FONT><B> CERTIFICATES FOR SHARES AND THEIR TRANSFER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 6.1&#9;Certificates for Shares.</B>
The shares of the corporation's stock may be certificated or uncertificated, as provided under the Maryland Corporations and Associations
Code. All uncertificated shares shall be evidenced by a book entry system administered by the corporation's transfer agent pursuant
to procedures, terms, and conditions as the corporation and the transfer agent shall adopt from time to time. The board of directors
shall designate the class or classes of the corporation's securities that may be represented by uncertificated shares. Upon the
issuance or transfer of uncertificated shares, the corporation shall cause the stockholder to be sent a written statement containing
the information that is required for certificated shares under Maryland law relating to the share's class, restrictions on alienability
and other designations. Certificated shares shall be signed manually by the president or a vice president and by the secretary
or an assistant secretary and may be sealed with the corporate seal or a facsimile thereof. The signatures of such officers on
a certificate may be facsimiles if the certificate is countersigned by a transfer agent, or registered by a registrar, other than
the corporation itself or an employee of the corporation. All certificates for shares of stock shall be consecutively numbered
or otherwise identified. The name and address of the person to whom the shares represented thereby are issued, with the number
of shares and date of issue, shall be entered on the stock transfer books of the corporation. All certificates surrendered to the
corporation for transfer shall be canceled and no new certificates for shares or uncertificated shares shall be issued until the
former certificate for a like number of shares shall have been surrendered and canceled, except that in case of a lost, stolen,
destroyed, or mutilated certificate a new certificate may be issued therefor on such terms and indemnity to the corporation as
the board of directors may prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>Section 6.2&#9;Transfer of Shares.</B>
Transfer of shares of stock of the corporation shall be made only on the stock transfer books of the corporation by the holder
of record thereof or by his or her legal representative, who shall furnish proper evidence of authority to transfer, or by his
or her attorney thereunto authorized by power of attorney duly executed and filed with the secretary of the corporation, and on
surrender for the cancellation of the certificate, if any, for such shares. The person in whose name shares of stock stand on the
books of the corporation shall be deemed by the corporation to be the owner thereof for all purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase"><B>ARTICLE
VII</B></FONT><B> AMENDMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The bylaws may be adopted, altered, or repealed
solely by the board of directors.</P>



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