<SEC-DOCUMENT>0001104659-20-049771.txt : 20200422
<SEC-HEADER>0001104659-20-049771.hdr.sgml : 20200422
<ACCEPTANCE-DATETIME>20200422171050
ACCESSION NUMBER:		0001104659-20-049771
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20200420
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200422
DATE AS OF CHANGE:		20200422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NABORS INDUSTRIES LTD
		CENTRAL INDEX KEY:			0001163739
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				980363970
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32657
		FILM NUMBER:		20808532

	BUSINESS ADDRESS:	
		STREET 1:		CROWN HOUSE
		STREET 2:		4 PAR-LA-VILLE ROAD   SECOND FLOOR
		CITY:			HAMILTON, HM08
		STATE:			D0
		ZIP:			0000
		BUSINESS PHONE:		2464219471

	MAIL ADDRESS:	
		STREET 1:		P O BOX HM3349
		CITY:			HAMILTON, HMPX
		STATE:			D0
		ZIP:			0000
</SEC-HEADER>
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<p style="margin: 0"></p>

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

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<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>PURSUANT TO SECTION&#160;13 OR 15(d)&#160;OF
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>N/A</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;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">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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                                         communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule&#160;405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule&#160;12b-2 of
the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">Emerging growth
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<p style="margin: 0pt 0; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act. </span><span style="font-family: Wingdings"><span style="font-family: Wingdings">&#168;</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">&#160;</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">&#160;</p>

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

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<tr style="vertical-align: top">
<td style="width: 0"></td>
<td style="width: 1in"><b>Item 3.03</b></td>
<td><b>Material Modification of Rights of Security Holders.</b></td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in">As previously
announced in our press release on April 20, 2020, and in our Current Report on Form 8-K filed on April 21, 2020, at a special
meeting of shareholders held on April 20, 2020, the shareholders of Nabors Industries, Ltd. (the &#8220;Company&#8221;)
approved (i) an amendment to the Company&#8217;s share capital to effect a reverse stock split of the Company&#8217;s common
shares, together with a corresponding proportional reduction in the number of authorized common shares and a proportional
increase in the par value for such authorized common shares (the &#8220;Reverse Stock Split&#8221;), (ii) an increase in the
Company&#8217;s authorized common share capital by 100% following the proportional reduction in the number of authorized
common shares as a result of the Reverse Stock Split and (iii) an amendment to the Company&#8217;s Bye-Laws in respect of its
share capital, each as more fully described in the Company&#8217;s Definitive Proxy Statement on Schedule 14A, which was
filed with the Securities and Exchange Commission on March 31, 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">On April 20, 2020,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Reverse Stock
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of the shareholders. The Company&#8217;s authorized number of common shares was proportionally decreased from 800,000,000 to 16,000,000
common shares, and the par value of each common share was proportionally increased from $0.001 to $0.05. In addition, the Company&#8217;s
authorized common share capital increased by 100% following the proportional reduction in the number of authorized common shares
as a result of the Reverse Stock Split. No fractional common shares were issued as a result of the Reverse Stock Split. Any fractional
common shares of registered holders resulting from the Reverse Stock Split were rounded up to the nearest whole share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Reverse Stock
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in">On April 23, 2020,
trading of the Company&#8217;s common shares will continue on the New York Stock Exchange on a Reverse Stock Split-adjusted basis.
The new CUSIP number for the Company&#8217;s common shares following the Reverse Stock Split will be G6359F 137. The Company&#8217;s
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>&#160;</b></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b>Item 5.03</b></td><td><b>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif">On
April 22, 2020 the Company amended its Bye-Laws in respect of its share capital as a result of the </span>Reverse Stock Split,
a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 1in"><b>Item 9.01</b></td><td><b>Financial Statements and Exhibits.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
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    <td style="border-bottom: Black 1pt solid; width: 80%"><span style="font: 10pt Times New Roman, Times, Serif">Description</span></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center">&#160;</td>
    <td style="text-align: center">&#160;</td>
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<tr style="vertical-align: top">
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<tr style="vertical-align: top">
    <td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">104</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</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">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>SIGNATURE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 208.05pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3in"></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>&#160;</td>
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<tr style="vertical-align: top">
    <td>&#160;</td>
    <td colspan="3">&#160;</td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
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<tr style="vertical-align: top">
    <td style="width: 50%"><span style="font: 10pt Times New Roman, Times, Serif">Date: April 22, 2020</span></td>
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    <td style="width: 3%"><span style="font: 10pt Times New Roman, Times, Serif">By: </span></td>
    <td style="border-bottom: Black 1pt solid; width: 43%"><span style="font: 10pt Times New Roman, Times, Serif">/s/Mark D. Andrews</span></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
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    <td style="padding-left: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Mark D. Andrews</span></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td colspan="2">&#160;</td>
    <td style="padding-left: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Corporate Secretary</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 3in">&#160;</p>

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<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Nabors Industries Ltd.<BR>
</B><FONT STYLE="font-size: 10pt">(the &#8220;Company&#8221;)</FONT></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>SECRETARY&#8217;S CERTIFICATE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDED BYE-LAWS</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: left">I, Catharine J. Lymbery,
Assistant Secretary of the Company, hereby certify that the document attached hereto and initialled by me is a true and correct
copy of the Amended and Restated Bye-Laws of the Company which were adopted with effect from 22 April 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 37.5pt 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Dated this April 22, 2020</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%"><FONT STYLE="font-size: 10pt">/s/Catherine J. Lymbery</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Catharine J. Lymbery</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Assistant Secretary</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></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"><B>&nbsp;</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 211.6pt 0pt 209.75pt; text-align: center"><B>OF</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 211.6pt 0pt 209.75pt; text-align: center"><B>NABORS INDUSTRIES
LTD.</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 211.6pt 0pt 209.75pt; text-align: center">(the &#8220;Company&#8221;)</P>

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

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 211.65pt 0pt 209.75pt; text-align: center">INTERPRETATION</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">1.</TD><TD STYLE="width: 0.5in">(1)</TD>
                                                              <TD>In these Bye-laws, unless the context otherwise requires:</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 77pt; text-align: justify">&#8220;<B>Applicable Law</B>&#8221;
means all applicable laws, regulations or rules of any statutory or non-statutory body, whether foreign or domestic, governing
the Company, the securities of the Company or the issue of, or the trading therein, including the Companies Acts;</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 77pt">&#8220;<B>Bermuda</B>&#8221; means the Islands of Bermuda;</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 77pt">&#8220;<B>Board</B>&#8221; means the board of directors
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&#8220;<B>Bye-laws</B>&#8221; means these Bye-laws
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.4pt 0pt 77pt">&#8220;<B>Clear Days</B>&#8221; means, in relation
to the period of a notice, that period excluding the day on which the notice is given or served, or deemed to be given or served,
and the day for which it is given or on which it is to take effect;</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 39.35pt 0pt 77pt">&#8220;<B>Companies Acts</B>&#8221; means every
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&#8220;<B>Company</B>&#8221; means Nabors Industries
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt">&#8220;<B>Director</B>&#8221; means a director for
the time being of the Company;</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 12.4pt 0pt 77pt">&#8220;<B>Officer</B>&#8221; means a Director,
Secretary, or other officer of the Company appointed pursuant to these Bye-laws, but does not include any person holding the office
of auditor in relation to the Company;</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 77pt">&#8220;<B>Paid Up</B>&#8221; means paid up or credited
as paid up;</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 12.4pt 0pt 77pt">&#8220;<B>Person Entitled by Transmission</B>&#8221;
means a person whose entitlement to a Share in consequence of the death or bankruptcy of a Shareholder or of any other event giving
rise to its transmission by operation of law has been noted in the Register pursuant to Bye-law 68.1;</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 42.2pt 0pt 77pt">&#8220;<B>Register</B>&#8221; means the register
of Shareholders of the Company and includes any branch register;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 42.2pt 0pt 77pt">&#8220;<B>Registered Office</B>&#8221; means the registered office
for the time being of the Company;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.3pt 0pt 77pt; text-align: justify">&#8220;<B>Resident Representative</B>&#8221;
means the person or, if permitted by the Companies Acts, the company appointed to perform the duties of resident representative
of the Company as set out in the Companies Acts (and includes any assistant or deputy resident representative appointed by the
Board);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 27.3pt 0pt 77pt; text-align: justify">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.5pt 0pt 77pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.5pt 0pt 77pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25.5pt 0pt 77pt; text-align: left">&#8220;<B>Resolution</B>&#8221;
means a resolution of the Shareholders or, where required, of a separate class or separate classes of Shareholders, adopted in
general meeting or passed in accordance with the provisions of these Bye-laws;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 77pt; text-align: justify">&#8220;<B>Seal</B>&#8221; means
the common seal of the Company and includes any duplicate seal;</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 22pt 0pt 77pt; text-align: left">&#8220;<B>Secretary</B>&#8221;
means the Secretary of the Company or, if there are joint Secretaries, any of the joint Secretaries and includes a deputy or assistant
Secretary and any person appointed by the Board to perform any of the duties of the Secretary;</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 218.25pt 0pt 77pt">&#8220;<B>Shareholder</B>&#8221; means a holder
of a Share (of any class);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 218.25pt 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 218.25pt 0pt 77pt">&#8220;<B>Share</B>&#8221; means any share in the capital of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 77pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 77pt">&#8220;<B>Subsidiary</B>&#8221; and &#8220;<B>Holding
Company</B>&#8221; have the same meanings as in section 86 of the Companies Act 1981, except that references in that section to
a company shall include any body corporate or other legal entity, whether incorporated or established in Bermuda or elsewhere;
and</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 77pt">&#8220;<B>US dollars</B>&#8221; or &#8220;<B>US$</B>&#8221;
means United States dollars.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.</TD><TD STYLE="padding-right: 0pt">For the purposes of these Bye-laws, unless the context otherwise requires:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(1)</TD><TD STYLE="padding-right: 0pt">a company shall be deemed to be present in person at a meeting if its representative, duly authorised
pursuant to these Bye-laws, is present;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(2)</TD><TD STYLE="padding-right: 0pt">words importing only the singular number include the plural number and vice versa;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(3)</TD><TD STYLE="padding-right: 0pt">words importing only one gender include the other gender;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(4)</TD><TD STYLE="padding-right: 0pt">references to a company include any body corporate or other legal entity, whether incorporated
or established in Bermuda or elsewhere;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(5)</TD><TD STYLE="padding-right: 0pt">references to a person include any company, partnership or other body of persons, whether corporate
or not, any trust and any government, governmental body or agency or public authority, whether of Bermuda or elsewhere;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(6)</TD><TD STYLE="padding-right: 0pt">references to writing include typewriting, printing, lithography, photography, electronic mail
and other modes of representing or reproducing words in a legible and non-transitory form;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(7)</TD><TD STYLE="padding-right: 0pt">references to anything being done by electronic means includes its being done by means of any
electronic or other communications equipment or facilities and references to any communication being delivered or received, or
being delivered or received at a particular place, include the transmission of an electronic or similar communication, to a recipient
identified in such manner or by such means, as the Board may from time to time approve or prescribe, either generally or for a
particular purpose;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(8)</TD><TD STYLE="padding-right: 0pt">references to a signature or to anything being signed or executed include such forms of electronic
signature or other means of verifying the authenticity of an electronic or similar communication as the Board may from time to
time approve or prescribe, either generally or for a particular purpose;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(9)</TD><TD STYLE="padding-right: 0pt">references to a dividend include a distribution paid in respect of Shares to Shareholders out
of contributed surplus or any other distributable reserve;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(10)</TD><TD STYLE="padding-right: 0pt">any words or expressions defined in the Companies Acts, if not otherwise defined in or given a
particular meaning by these Bye-laws, have the same meaning in these Bye-laws, except that the definition of &#8220;attorney&#8221;
shall not apply;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(11)</TD><TD STYLE="text-align: justify; padding-right: 0pt">(a) powers of delegation shall not be restrictively construed but the widest
interpretation shall be given thereto;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.3pt 0pt 77pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.3pt 0pt 77pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.3pt 0pt 77pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-align: left">(b)&nbsp;the word &#8220;Board&#8221;
in the context of the exercise of any power contained in these Bye-laws includes any committee consisting of one or more Directors
and any local or divisional Board, manager or agent of the Company to which or, as the case may be, to whom the power in question
has been delegated; (c) no power of delegation shall be limited by the existence or, except where expressly provided by the terms
of delegation, the exercise of any other power of delegation; and (d) except where expressly provided by the terms of delegation,
the delegation of a power shall not exclude the concurrent exercise of that power by any other body or person who is for the time
being authorised to exercise it under these Bye-laws or under another delegation of the powers;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(12)</TD><TD STYLE="padding-right: 0pt">references to any statute or statutory provision (whether of Bermuda or elsewhere) includes a
reference to any modification or re-enactment of it for the time being in force and to every rule, regulation or order made under
it (or under any such modification or re-enactment) and for the time being in force and any reference to any rule, regulation or
order made under any such statute or statutory provision includes a reference to any modification or replacement of such rule,
regulation or order for the time being in force;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(13)</TD><TD STYLE="padding-right: 0pt">references to Shares with the general right to vote at general meetings of the Company are to those
Shares (of any class or series) with the right to vote, other than Shares which entitle the holders to vote only in limited circumstances
or upon the occurrence of a specified event or condition (whether or not those circumstances have arisen or that event or condition
has occurred); and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(14)</TD><TD STYLE="text-align: left; padding-right: 0pt">reference to &#8220;days&#8221; in these Bye-laws when in relation to notice or limitation periods,
deemed delivery, adjournments or Record Dates shall mean &#8220;Clear Days&#8221;.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">3.</TD><TD STYLE="padding-right: 0pt"><U>The Re</U>g<U>istered Office.</U> The Registered Office of the Company shall be at such place
within Bermuda as the Board may from time to time determine, but as at the date of adoption of these Bye-laws and until a change
is effected, such Registered Office shall be at Canon&#8217;s Court, 22 Victoria Street, Hamilton, Bermuda HM 12. The Company may
establish such other principal places of business as the Board may determine from time to time.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">4.</TD><TD STYLE="padding-right: 0pt"><U>Authorised Share Capital.</U> Subject to any special rights conferred on the holders of any
Share or class of Shares, any Share in the Company may be issued with or have attached thereto such preference, deferred, qualified
or other special rights or such restrictions, whether in regard to dividend, voting, return of capital or otherwise, as the Shareholders
may by Resolution determine or, if there has not been any such determination or so far as the same shall not make specific provision,
as the Board may determine The authorized share capital of the Company is divided into two classes: (i) common shares (the &#8220;Common
Shares&#8221;) and (ii) preferred shares (the &#8220;Preferred Shares&#8221;).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">4.1</TD><TD STYLE="padding-right: 0pt">Subject to these Bye-laws, holders of the Common Shares shall:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(a)</TD><TD STYLE="padding-right: 0pt">be entitled to one vote for each Common Share held by such holder on the relevant record date
on all matters submitted to a vote of the Shareholders;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(b)</TD><TD STYLE="padding-right: 0pt">be entitled to such dividends and other distributions in cash, Shares or property of the Company
out of assets or funds of the Company legally available therefor, as the Board may from time to time declare; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(c)</TD><TD STYLE="padding-right: 0pt">generally be entitled to enjoy all of the rights attaching to Shares under the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">4.2</TD><TD STYLE="padding-right: 0pt">For the purposes of these Bye-laws, the rights attaching to any of the Common Shares shall be
deemed not to be altered by the allotment or issue by the Company of other Shares ranking in priority for payment of dividends
or with respect to capital, or which confer on the holders voting rights more favourable than those conferred on the Common Shares,
and shall not otherwise be deemed to be altered by the creation or issue of further Shares ranking pari passu with such Shares,
or by the purchase or redemption by the Company of any of its own Shares.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">4.3</TD><TD STYLE="padding-right: 0pt">The Board is hereby expressly authorised to provide for the issuance of all or any of the Preferred
Shares in one or more classes or series, and to fix, for each such class or series, the number of Shares which shall constitute
such class or series, full, limited or no voting power, designations, preferences, special rights, qualifications, limitations
and restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board (a copy of which
shall be attached as an appendix to, but shall not form a part of, these Bye-laws) providing for the issuance of such class or
series, including, without limitation, the authority to provide that any such class or series may be: (a) subject to redemption
at the option of the Company or the holders, or both, at such time or times and at such price or prices; (b) entitled to receive
dividends (which may be cumulative or non-cumulative) at such rates, on such conditions, and at such times, and payable in preference
to, or in such relation to, the dividends payable on any other class or classes or any other series; (c) entitled to such rights
upon the dissolution of, or upon any distribution of the assets of, the Company; or (d) convertible into, or exchangeable for,
any other class or classes of Shares, or of any other series of the same or any other class or classes of Shares, of the Company
at such price or prices or at such rates of exchange and with such adjustments; all as may be stated in such resolution or resolutions.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">5.</TD><TD STYLE="padding-right: 0pt"><U>Share Rights May Be Altered.</U> Subject to the Companies Acts, all or any of the special rights
for the time being attached to any class of Shares issued may, unless otherwise expressly provided in the rights attaching to or
by the terms of issue of the Shares of that class, from time to time (whether or not the Company is being wound up) be altered
or abrogated by a Resolution passed at a separate general meeting of the holders of Shares of that class, voting in person or by
proxy and representing at least a majority of the issued Shares of that class entitled to vote. To any such separate general meeting,
all the provisions of these Bye-laws as to general meetings of the Company shall apply, except that every holder of Shares of the
relevant class shall be entitled on a poll to one vote for every such Share held by such holder and any holder of Shares of the
relevant class present in person or by proxy may demand a poll.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">5.1</TD><TD STYLE="padding-right: 0pt">For the purposes of this Bye-law, unless otherwise expressly provided by the rights attached
to any class of Shares, the rights attaching to any class of Shares shall be deemed not to be altered by the allotment or issue
by the Company of other Shares ranking in priority of payment of dividends or with respect to capital, or which confer on the holders
voting rights more favourable than those conferred on such class, and shall not otherwise be deemed to be altered by the creation
or issue of further Shares ranking pari passu with such class, or by the purchase or redemption by the Company of any of its own
Shares.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">6.</TD><TD STYLE="padding-right: 0pt"><U>Shares at the Disposal of the Board.</U> Subject to the other provisions of these Bye-laws,
the unissued Shares of the Company (whether forming part of the original Share capital or any increased capital) shall be at the
disposal of the Board, which may offer, allot, grant options, warrants or other rights over or otherwise deal with or dispose of
them to such persons, at such times and for such consideration and generally on such terms and conditions as the Board may from
time to time determine. Shares may be issued in fractional denominations and in such event the Company shall deal with such fractions
to the same extent as its whole Shares, so that a Share in a fractional denomination shall have, in proportion to the fraction
of a whole Share that it represents, all the rights of a whole Share, including (but without limiting the generality of the foregoing)
the right to vote, to receive dividends and distributions and to participate in a winding up.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">7.</TD><TD STYLE="padding-right: 0pt"><U>Board May Pay Commissions.</U>
The Board may, in connection with the issue of any Shares, exercise all powers of paying commissions and brokerages conferred or
permitted by Applicable Law.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">8.</TD><TD STYLE="padding-right: 0pt"><U>Board May Repurchase Shares.</U>
The Board may, at its discretion and without the sanction of a Resolution, authorise the acquisition by the Company of its own
shares, of any class, at any price (whether at par or above or below par), and any shares to be so purchased may be selected in
any manner whatsoever, to be held as treasury shares, upon such terms as the Board may in its discretion determine, provided always
that such acquisition is effected in accordance with the provisions of the Companies Acts. The whole or any part of the amount
payable on any such acquisition may be paid or satisfied otherwise than in cash, to the extent permitted by the Companies Acts.
The Company shall be entered in the Register as a Shareholder in respect of the shares held by the Company as treasury shares and
shall be a Shareholder of the Company but subject always to the provisions of the Companies Acts and for the avoidance of doubt
the Company shall not exercise any rights and shall not enjoy or participate in any of the rights attaching to those shares save
as expressly provided for in the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">8.1</TD><TD STYLE="padding-right: 8pt">Subject to the provisions of these Bye-laws, any shares of the Company held by the Company as treasury
shares shall be at the disposal of the Board, which may hold all or any of the shares disposed of or transfer all or any of the
shares for cash or other consideration or cancel all or any of the shares.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">9.</TD><TD STYLE="padding-right: 27.2pt"><U>Shareholder Approval to Increase of Capital.</U> The Shareholders may from time to time increase
the Company&#8217;s capital by such sum to be divided into Shares of such par value as the Shareholders by Resolution shall prescribe.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">10.</TD><TD STYLE="padding-right: 9.15pt"><U>No Pre-emptive Rights.</U> No holder of Shares of any class or other securities of the Company
shall as such holder have any pre-emptive right to purchase Shares of any class or other securities of the Company or Shares or
other securities convertible into or exchangeable for or carrying rights or options to purchase Shares of any class of the Company,
whether such Shares or other securities are now or hereafter authorised, which at any time may be proposed to be issued by the
Company or subjected to rights or options to purchase granted by the Company.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">11.</TD><TD><U>Shares Subje ct to Bye-laws.</U> All existing Shares and any new Shares shall be subject to all the provisions of these
Bye-laws.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">12.</TD><TD STYLE="padding-right: 43.25pt"><U>Shareholder Approval to Alteration of Capital.</U> The Shareholders may (subject to Bye-law
12.1) from time to time by Resolution:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="padding-right: 10.25pt">divide the Company&#8217;s Shares into several classes and attach to them respectively any preferential,
deferred, qualified or special rights, privileges or conditions;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="padding-right: 38.45pt">consolidate and divide all or any of the Company&#8217;s share capital into Shares of larger
par value than any of its existing Shares;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="padding-right: 8.05pt">sub-divide the Company&#8217;s Shares or any of them into Shares of smaller par value than is
fixed by its memorandum, provided, however, that in the sub-division the proportion between the amount paid and the amount, if
any, unpaid on each reduced Share shall be the same as it was in the case of the Share from which the reduced Share is derived;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD>make provision for the issue and allotment of Shares which do not carry any voting rights;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="padding-right: 14.7pt">cancel Shares which, at the date of the passing of the relevant Resolution, have not been taken
or agreed to be taken by any person, and diminish the amount of the Company&#8217;s authorised share capital by the amount of the
Shares so cancelled; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD>change the currency denomination of the Company&#8217;s share capital.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">12.1</TD><TD STYLE="padding-right: 10.85pt">Where any disagreement arises in regard to any division, consolidation or sub-division under
this Bye-law 12, the Board may settle the same as it thinks expedient and, in particular, may arrange for the sale of the Shares
representing fractions, and the distribution of the net proceeds of sale in due proportion among the Shareholders who would have
been entitled to the fractions, except that any proceeds in respect of any holding which are less than a sum fixed by the Board
may be retained for the benefit of the Company. For the purpose of any such sale, the Board may authorise some person to transfer
the Shares representing fractions to the purchaser, who shall not be bound to see to the application of the purchase money, nor
shall such purchaser&#8217;s title to the Shares be affected by any irregularity or invalidity in the proceedings relating to the
sale.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">13.</TD><TD STYLE="padding-right: 14.7pt"><U>Conversion of Preferred Shares.</U> Subject to the Companies Acts and to any confirmation
or consent required by Applicable Law or these Bye-laws, the Shareholders may from time to time by Resolution convert any Preferred
Shares in the Company (unless otherwise expressly provided by the rights attaching to or by the terms of issue of the Preferred
Shares in question) into redeemable Preferred Shares.</TD></TR></TABLE>

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">14.</TD><TD STYLE="padding-right: 8.35pt"><U>Shareholder Approval to Reduction of Capital.</U> Subject to the Companies Acts and to any
confirmation or consent required by Applicable Law or these Bye-laws, the Shareholders may from time to time by Resolution authorise
the reduction in any manner of the Company&#8217;s issued share capital (but not to a sum less than the minimum share capital prescribed
by its memorandum) or any share premium account.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">14.1</TD><TD STYLE="padding-right: 17.15pt">In relation to any such reduction, the Shareholders may by Resolution determine the terms upon
which the reduction is to be effected, including, in the case of a reduction of part only of a class of Shares, those Shares to
be affected.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">15.</TD><TD STYLE="padding-right: 11.1pt"><U>Annual General Meeting.</U>
The Annual General Meeting of Shareholders shall be held in each calendar year on such date and at such time as shall be designated
from time to time by the Board and stated in the notice of the meeting, at which meeting the Shareholders shall elect directors,
appoint auditors and transact such other business as may properly be brought before the meeting. All other general meetings of
the Shareholders called pursuant to the requirements of the Companies Act or these Bye-laws shall be referred to as Special General
Meetings.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">16.</TD><TD STYLE="padding-right: 11.2pt"><U>Special General Meetings.</U> Special General Meetings of the Shareholders, may be called
at any time for any purpose or purposes by the Board or as otherwise provided for by Applicable Law, and shall be held at such
place, and at such hour as may be designated by the Board in the notice of the meeting; <U>provided, however,</U> that the time
so fixed shall permit the giving of notice as provided in Bye-law 17, unless such notice is waived as provided by Applicable Law
or by these Bye-laws. Special General Meetings shall also be called and held in such cases and in such manner as may be specifically
required by the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">17.</TD><TD STYLE="padding-right: 30.95pt"><U>Notice of Meetings.</U> Written notice of each meeting of the Shareholders, which shall state
the place, date and hour of the meeting and, in the case of a Special General Meeting or where otherwise required by Applicable
Law, the purpose or purposes for which it is called, shall be given, unless a different period is required by Applicable Law, not
less than ten (10) nor more than sixty (60) days before the
date of such meeting, by or at the direction of the person calling the meeting, to each Shareholder entitled to vote at such meeting
by mail or by e-mail or any other electronic means at the Shareholder&#8217;s address as it appears on the Register of Shareholders
or at any other address given in writing by such Shareholder to the Company for such purpose. Notice of each Annual or Special
General Meeting shall also be given in the same manner as described above to any Director or Resident Representative of the Company
who has delivered a written notice to the Company&#8217;s registered office requiring that such notice be sent to such person.
Any notice given in the manner set forth in this Bye-law 17 shall be deemed duly given and shall be deemed to have been served
five days after dispatch if sent by post or twenty-four (24) hours after its dispatch by any other means. Except as otherwise provided
by these Bye-laws and the Companies Acts, no business other than that stated in the notice shall be transacted at any meeting without
the unanimous consent of all the Shareholders entitled to vote thereat. When a meeting is adjourned to another time or place, notice
need not be given if the time and place thereof are announced at the meeting at which the adjournment is taken. If the adjournment
is for more than thirty (30) days after the date of the original meeting, 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 Shareholder of record entitled to vote at the
meeting. The accidental omission to give notice of a meeting, or (in cases where instruments of proxy are sent out with the notice)
the accidental omission to send such instrument of proxy to, or the non-receipt of notice of a meeting or such instrument of proxy
by, any person entitled to receive such notice shall not invalidate the proceedings at that meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.05pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.</TD><TD STYLE="padding-right: 7.25pt"><U>Nature of Business at Meetings of Shareholders.</U> Subject to the terms of these Bye-laws
and the Companies Acts, no business may be transacted at an Annual General Meeting of the Shareholders, other than business that
is either (a) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board (or any
duly authorised committee thereof), (b) otherwise properly brought before the Annual General Meeting by or at the direction of
the Board (or any duly authorised committee thereof) or (c) otherwise properly brought before the Annual General Meeting by any
Shareholder of the Company (i) who is a Shareholder of record on the date of the giving of the notice provided for in this Bye-law
18 and on the record date for the determination of Shareholders entitled to vote at such Annual General Meeting and (ii) who complies
with the notice procedures set forth in this Bye-law 18.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.1</TD><TD STYLE="text-align: justify; padding-right: 14.25pt">In addition to any other applicable requirements, for business to be properly
brought before an Annual General Meeting by a Shareholder, such Shareholder
must have given timely notice thereof in proper written form to the Secretary of the Company as provided below.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.25pt 0pt 41pt; text-align: justify"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.2</TD><TD STYLE="padding-right: 8.6pt">With regard to an Annual General Meeting, to be timely, a Shareholder&#8217;s notice to the Secretary
must be delivered to or mailed and received at the Registered Office and the principal executive offices of the Company as set
forth in the Company&#8217;s filings with the Securities and Exchange Commission not less than sixty (60) days nor more than ninety
(90) days prior to the anniversary date of the immediately preceding Annual General Meeting of Shareholders; <U>provided, however,</U>
that in the event that the Annual General Meeting is called for a date that is not within thirty (30) days before or after such
anniversary date, notice by the Shareholder in order to be timely must be so received not later than the close of business on the
tenth (10th) day following the day on which such notice of the date of the Annual General Meeting was mailed or such public disclosure
of the date of the Annual General Meeting was made, whichever first occurs.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.3</TD><TD STYLE="padding-right: 9.95pt">To be in proper written form, a Shareholder&#8217;s notice to the Secretary must set forth as
to each matter such Shareholder proposes to bring before the Annual General Meeting (i) a brief description of the business desired
to be brought before the Annual General Meeting and the reasons for conducting such business at the Annual General Meeting, (ii)
the name and record address of such Shareholder, (iii) the class or series and number of Shares of the Company which are owned
beneficially or of record by such Shareholder, (iv) a description of all arrangements or understandings between such Shareholder
and any other person or persons (including their names) in connection with the proposal of such business by such Shareholder and
any material interest of such Shareholder in such business and (v) a representation that such Shareholder intends to appear in
person or by proxy at the Annual General Meeting to bring such business before the meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">18.4</TD><TD STYLE="padding-right: 10.95pt">No business shall be conducted at the Annual General Meeting of Shareholders except business
brought before the Annual General Meeting in accordance with the procedures set forth in this Bye-law; <U>provided, however,</U>
that, once business has been properly brought before the Annual General Meeting in accordance with such procedures, nothing in
this Bye-law shall be deemed to preclude discussion by any Shareholder of any such business. If the Chairman of an Annual General
Meeting determines that business was not properly brought before the Annual General Meeting in accordance with the foregoing procedures,
the Chairman shall declare to the meeting that the business was not properly brought before the meeting and such business shall
not be transacted.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">19.</TD><TD STYLE="padding-right: 9.8pt"><U>Quorum.</U> Except as otherwise
required by Applicable Law, or these Bye-laws, at all meetings of the Shareholders, the holders of a majority of the Shares issued
and outstanding and entitled to vote shall be present in person or represented by proxy in order to constitute a quorum for the
transaction of any business. The Chairman or a majority vote of the Board or the affirmative vote of the holders of a majority
of the Shares present in person or represented by proxy at the meeting and entitled to vote thereat, whether or not a quorum shall
be present, may adjourn the meeting from time to time, to a specified date or place. At any such adjourned meeting at which a quorum
may be present, the Company may transact any business which might have been transacted at the original meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">19.1</TD><TD STYLE="text-align: justify; padding-right: 18.25pt">As to any matter with respect to which a separate class vote is required
by the terms of the Companies Acts, the holders of a majority of the Shares of such class which are then outstanding and entitled
to vote shall be present in person or represented by proxy in order to constitute a quorum for the purpose of any separate vote
required by such class.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">19.2</TD><TD STYLE="padding-right: 23pt">The absence from any meeting of the number of Shares required by Applicable Law or these Bye-laws
for action upon one matter shall not prevent action at such meeting upon any other matter or matters which may properly come before
the meeting, if the number of Shares required in respect of such other matters shall be present.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">20.</TD><TD STYLE="padding-right: 6.95pt"><U>Organization.</U> At each meeting of the Shareholders, the Chairman of the Board or, in his
absence or inability to act, the most senior present Vice Chairman or, in the absence or inability to act of any Vice Chairman,
the President or, in his absence or inability to act, a Vice President or, in his absence or inability to act, any person as may
be designated by the Board or, in the absence of such designation, a chairman to be chosen at the meeting by the majority of those
Shareholders present in person or represented by proxy shall act as chairman of the meeting. The Secretary or, in his absence or
inability to act, an Assistant Secretary, or in his absence or inability to act, any person as may be designated from time to time
by the Board shall act as secretary of each meeting of Shareholders and keep the minutes thereof; if no such person is present
or has been chosen, the holders of record of a majority of Shares present in person or represented by proxy and entitled to vote
at the meeting shall choose any person present to act as secretary of the meeting.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">21.</TD><TD STYLE="padding-right: 23pt"><U>Order of Business.</U> The order of business at all meetings of the Shareholders shall be as
determined by the chairman of the meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">22.</TD><TD STYLE="padding-right: 13.85pt"><U>Voting and Required Vote.</U> At each meeting of Shareholders, each Shareholder shall be
entitled to one vote for each Share held by such Shareholder except as otherwise provided for by the rights attaching to such Share
or these Bye-laws. Except as may otherwise be provided for in these Bye-laws, and subject to Applicable Law, at each meeting of
Shareholders if there shall be a quorum, the affirmative vote of the holders of a majority of Shares present in person or represented
by proxy and entitled to vote on a matter brought before such meeting, shall decide such matter.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">23.</TD><TD STYLE="padding-right: 10pt"><U>Proxies.</U> Each Shareholder entitled to vote at any meeting of Shareholders or to express
consent or dissent to corporate action in writing without a meeting may authorize another person or persons to act for him by proxy.
Any such proxy shall be delivered to the secretary of such meeting at or prior to the time designated in the order of business
for so delivering such proxies. Each such proxy shall be in writing in any common form or in such other form as the Board may approve
and, executed by the Shareholder or his duly authorized attorney-in-fact, but no such proxy shall be voted after three years from
its date unless such proxy provides for a longer period. A duly executed proxy shall be irrevocable if it states that it is irrevocable
and if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A proxy may be made
irrevocable regardless of whether the interest with which it is coupled is an interest in the Share itself or an interest in the
Company generally.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">23.1</TD><TD STYLE="padding-right: 8.85pt">The appointment of a proxy in relation to a particular meeting shall, unless the contrary is
stated, be valid for any adjournment of the meeting and the appointment of a proxy in relation to a particular meeting or adjourned
meeting shall unless the contrary is stated, be valid for any poll demanded at the meeting or adjourned meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">23.2</TD><TD STYLE="padding-right: 11.95pt">Subject to the Companies Act, the Board may also at its discretion waive any of the provisions
of these Bye-laws relating to the execution and deposit of an instrument or other form of communication appointing or evidencing
the appointment of a proxy or any ancillary matter (including, without limitation, any requirement for the production or delivery
of any instrument or other communication to any particular place or by any particular time or in any particular way) and, in any
case in which it considers it appropriate, may accept such instrument or other form of communication evidencing the appointment
of a proxy or such verbal or other assurances as it thinks fit as to the right of any person to attend and vote on behalf of any
Shareholder at any general meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">24.</TD><TD STYLE="padding-right: 12.2pt"><U>List of Shareholders.</U> A complete list of the Shareholders entitled to vote at any meeting,
arranged in alphabetical order, with the address of each, and the number of Shares held by each, shall be prepared, or shall be
caused to be prepared, by the Secretary and shall be open to examination of any Shareholder, for any purpose germane to the meeting,
during ordinary business hours, for a period of at least ten (10) days prior to the meeting, either at a place within the city
in which the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified, at the
place where the meeting is to be held. The list shall also be produced and kept at the place of the meeting during the whole time
thereof, and may be inspected by any Shareholder who is present. The Share ledger shall be the only evidence as to the Shareholders
entitled to examine the Share ledger, the list required by these Bye-laws or the books of the Company, or to vote in person or
by proxy at any meeting of the Shareholders.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">25.</TD><TD STYLE="padding-right: 12.85pt"><U>Voting by Fiduciaries, Pledgors and Joint Owners.</U> Persons holding Shares in a fiduciary
capacity shall be entitled to vote the Shares so held. Persons whose Shares are pledged shall be entitled to vote, unless in the
transfer by the pledgor on the books of the Company he has expressly empowered the pledgee to vote thereon, in which case only
the pledgee, or his proxy, may represent such Shares and vote thereon.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">25.1</TD><TD STYLE="padding-right: 14.1pt">If Shares or other securities having voting power stand of record in the names of two or more
persons, whether fiduciaries, members of a partnership, joint tenants, tenants-in-common, tenants by the entirety or otherwise,
or if two or more persons have the same fiduciary relationship respecting the same Shares, unless the Secretary is given written
notice to the contrary and is furnished with a copy of the instrument or order appointing them or creating the relationship wherein
it is so provided, their acts with respect to voting shall have the following effect:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>if only one votes, his act binds all;</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>if more than one votes, the act of the majority so voting binds all; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="padding-right: 16.8pt">if more than one votes, but the vote is evenly split on any particular matter, each faction may
vote the securities in question proportionally, or any person voting the Shares, or a beneficiary, if any, may apply to such court
as may have jurisdiction to appoint an additional person to act with the persons so voting the Shares, which shall then be voted
as determined by a majority of such persons and the person appointed by the Court. If the instrument so filed shows that any such
tenancy is held in unequal interest, a majority or even-split for the purpose of this paragraph shall be a majority or even-split
in interest.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">26.</TD><TD STYLE="padding-right: 8.55pt"><U>Consent of Shareholders in
Lieu of Meeting.</U> Except in the case of the removal of auditors and Directors, anything which may be done by Resolution in general
meeting may, without a meeting and without any previous notice being required, be done by Resolution in writing, signed by all
of the Shareholders or their proxies, or in the case of a Shareholder that is a corporation (whether or not a company within the
meaning of the Companies Acts) on behalf of such Shareholder, being all of the Shareholders of the Company who at the date of the
Resolution in writing would be entitled to attend a meeting and vote on the Resolution. Such Resolution in writing may be signed
in as many counterparts as may be necessary.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">27.</TD><TD STYLE="padding-right: 7.25pt"><U>Nomination of Directors.</U> Only persons who are nominated in accordance with the following
procedures shall be eligible for election as directors of the Company. Nominations of persons for election to the Board may be
made at any Annual General Meeting of Shareholders, or at any Special General Meeting of Shareholders called for the purpose of
electing directors, (a) by or at the direction of the Board (or any duly authorized committee thereof), (b) by any Shareholders
of the Company pursuant to the valid exercise of the power granted under the Companies Act, or (c) by any Shareholder of the Company
(i) who is a Shareholder of record on the date of the giving of the notice provided for in this Bye-law 27 and on the record date
for the determination of Shareholders entitled to vote at such meeting and (ii) who complies with the notice procedures set forth
in this Bye-law 27.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">27.1</TD><TD STYLE="padding-right: 0.15in">In addition to any other applicable requirements, for a nomination to be made by a Shareholder,
such Shareholder must have given timely notice thereof in proper written form to the Secretary of the Company. To be timely, a
Shareholder&#8217;s notice to the Secretary must be delivered to or mailed and received at the Registered Office and the principal
executive offices of the Company as set forth in the Company&#8217;s filings with the Securities and Exchange Commission (a) in
the case of an Annual General Meeting, not less than sixty (60) days nor more than ninety (90) days prior to the anniversary date
of the immediately preceding Annual General Meeting; provided, however, that in the event that the Annual General Meeting is called
for a date that is not within thirty (30) days before or after such anniversary date, notice by the Shareholder in order to be
timely must be so received not later than the close of business on the tenth (10th) day following the day on which such notice
of the date of the Annual General Meeting was mailed or such public disclosure of the date of the Annual General Meeting was made,
whichever first occurs; and (b) in the case of a Special General Meeting called for the purpose of electing directors, not later
than the close of business on the tenth (10th) day following the day on which notice of the date of the Special General Meeting
was mailed or public disclosure of the date of the Special General Meeting was made, whichever first occurs.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">27.2</TD><TD STYLE="padding-right: 0.1in">To be in proper written form, a Shareholder&#8217;s notice to the Secretary must set forth
                                  (a) as to each person whom the Shareholder proposes to nominate for election as a Director (i) the name, age, business
                                  address and residential address of the person, (ii) the principal occupation or employment of the person, (iii) the class or
                                  series and number of Shares which are owned beneficially or of record by the person, and (iv) any other information relating
                                  to the person 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 election of directors pursuant to Section 14 of the Securities Exchange Act of 1934, as
                                  amended (the &#8220;Exchange Act&#8221;), and the rules and regulations promulgated thereunder; and (b) as to the Shareholder
                                  giving the notice (i) the name and record address of such Shareholder, (ii) the class or series and number of Shares which
                                  are owned beneficially or of record by such Shareholder, (iii) a description of all arrangements or understandings
between such Shareholder and each proposed nominee and any other person or persons (including their names) pursuant to which the
nomination(s) are to be made by such shareholder, (iv) a representation that such shareholder intends to appear in person or by
proxy at the meeting to nominate the persons named, in its notice, and (v) any other information relating to such shareholder 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 election of directors pursuant to Section 14 of the Exchange Act and the rules and
regulations promulgated thereunder. Such notice must be accompanied by a written consent of each proposed nominee to being named
as a nominee and to serve as a Director if elected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 41pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.95pt 0pt 41pt"></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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">27.3</TD><TD STYLE="padding-right: 13.55pt">No person shall be eligible for election as a Director of the Company unless nominated in accordance
with the procedures set forth in this Bye-law 27. If the Chairman of the meeting determines that a nomination was not made in accordance
with the foregoing procedures, the Chairman shall declare to the meeting that the nomination was defective and such defective nomination
shall be disregarded.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">28.</TD><TD STYLE="padding-right: 0pt"><U>General Powers.</U> The business and affairs of the Company shall be managed by or under the
direction of a Board, which may exercise all such authority and powers of the Company and do all such lawful acts and things as
are not by Applicable Law, or by these Bye-laws, directed or required to be exercised or done by the Shareholders or such other
persons as provided therein.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">29.</TD><TD STYLE="padding-right: 0pt"><U>Number, Election and Term of Directors.</U> The Board shall consist of not less than five (5)
and not more than eighteen (18) Directors. Directors shall be elected or appointed at the Annual General Meeting or at any Special
General Meeting called for that purpose by a plurality of votes of the Shareholders, except that any vacancies which result from
the death, resignation, retirement, disqualification or removal of a Director may be filled by a majority of the Board then in
office provided that any Director elected to fill such a vacancy shall be subject to the same term of office as the director being
replaced. Any general meeting may authorise the Board to fill any vacancy left unfilled at a general meeting. The number of Directors
to be elected at any time within the minimum and maximum limitations specified herein shall be determined from time to time by
the Board pursuant to a resolution adopted by the vote of a majority of the Board then in office provided always that there are
at least two Directors to manage the affairs of the Company and provide a quorum for a meeting of the Board. Subject to the quorum
requirements set forth in Bye-law 36, during the existence of a vacancy on the Board the remaining Directors shall have full power
to act. No Director may appoint any other person as an alternate director to replace himself or herself.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">29.1</TD><TD STYLE="padding-right: 0pt">In case of any increase in the number of Directors within the minimum and maximum limitations
specified in this Bye-law, additional Directors may be appointed by the Board to fill such vacancy. No decrease in the number of
Directors shall shorten the term of any incumbent Director.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">29.2</TD><TD STYLE="padding-right: 0pt">The Shareholders may remove a Director prior to the expiration of his term, only for cause,
at a Special General Meeting called for that purpose by the affirmative vote of a majority of the outstanding Shares entitled to
vote at such meeting, provided notice of any such meeting shall be served upon the Director concerned not less than fourteen (14)
days before the meeting and he or she shall be entitled to be heard at that meeting. Any vacancy created by the removal of a Director
may be filled by the affirmative vote of a majority of the outstanding shares entitled to vote at the same meeting by the election
of another Director in his or her place or, in the absence of any such election, by the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">30.</TD><TD STYLE="padding-right: 0pt"><U>Resignations.</U> In addition to those circumstances in which a Director may be removed from
office pursuant to these Bye-laws, the office of a Director shall be vacated:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(1)</TD><TD STYLE="padding-right: 0pt">if the Director resigns from office, on the date on which notice of his or her resignation is
delivered to the Registered Office or tendered at a meeting of the Board or on such later date as may be specified in such notice;
or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(2)</TD><TD STYLE="text-align: left; padding-right: 0pt">if the Director dies, becomes physically incapable of discharging his duty
to the Company in accordance with Applicable Laws or becomes of unsound mind or a patient for any purpose of any statute or applicable
law relating to mental health, on the date of death or the date on which the Board resolves that his or her office is vacated;
or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(3)</TD><TD STYLE="padding-right: 0pt">on his or her becoming bankrupt; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(4)</TD><TD STYLE="padding-right: 0pt">on his or her being prohibited by Applicable Law from being a Director; or</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"></TD><TD STYLE="padding-right: 0pt; width: 0.5in">(5)</TD><TD STYLE="padding-right: 0pt">on his or her ceasing to be a Director by virtue of any provision of the Companies Acts.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">31.</TD><TD STYLE="padding-right: 0pt"><U>Annual Board Meetings.</U> The annual meeting of the Board for the purpose of organizing the
Board, appointing officers and members of committees and transacting other business,
shall be held immediately following the Annual General Meeting of the Shareholders at the same place where such meeting of Shareholders
shall be held or at such place and time as may be determined by the Board <U>provided, however,</U> that the time so fixed shall
permit the giving of notice as provided in these Bye- laws.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 41pt"></P>



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in"><FONT STYLE="font-size: 10pt">32.</FONT></TD><TD STYLE="padding-right: 0pt"><FONT STYLE="font-size: 10pt"><U>Regular Board Meetings.</U> Additional regular meetings of
the Board may be held at such time and place as shall from time to time be determined by the Board, <U>provided, however,</U> that
the time so fixed shall permit the giving of notice as provided in </FONT>these Bye-laws.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">33.</TD><TD STYLE="padding-right: 0pt"><U>Special Board Meetings.</U> Special meetings of the Board may be called at any time by the
Chairman of the Board, the Vice Chairman, the President or any Vice President or by two or more Directors and shall be held at
such time and place as may be fixed by the person or persons calling the meeting; <U>provided, however,</U> that the time so fixed
shall permit the giving of notice as provided in these Bye-laws.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">34.</TD><TD STYLE="padding-right: 0pt"><U>Notice of Board Meetin</U>g<U>s.</U> Notice of a meeting of the Board shall be deemed to be
duly given to a Director if it is given to the Director personally or by word of mouth or sent to the Director by post, facsimile
or other electronic means at his or her last known address or any other address given by him or her to the Company for this purpose.
A Director may retrospectively waive the requirement for notice of any meeting by consenting in writing to the business conducted
at the meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">35.</TD><TD STYLE="padding-right: 0pt"><U>Organization of Board Meetings.</U> The Chairman of the Board shall preside over all meetings
of the Board at which he is present. In his absence or inability to act, the most senior Vice Chairman present at the meeting shall
preside. In the absence or inability to act of the Chairman or any Vice Chairmen, the Board shall select a chairman of the meeting
from among the Directors present. The Secretary or, in his absence or inability to act, an Assistant Secretary, or in his absence
or inability to act, another Director selected by the Board shall act as secretary of the meeting and keep the minutes thereof.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">36.</TD><TD STYLE="padding-right: 0pt"><U>Quorum and Voting at Board
Meetings.</U> At all meetings of the Board the presence in person of the greater of two Directors, and one-third of the total number
of Directors constituting the entire Board then in office, shall be necessary and sufficient to constitute a quorum for the transaction
of any business by the Board at such meeting, except as otherwise provided by these Bye-laws or Applicable Law. At any meeting
of the Board, no action shall be taken (except adjournment, in the manner provided below) until after a quorum has been established.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">36.1</TD><TD STYLE="padding-right: 0pt">Except as otherwise provided by Applicable Law or these Bye-laws, the act of a majority of Directors
who are present at a meeting at which a quorum previously has been established (or at any adjournment of such meeting, provided
that a quorum shall have previously been established at such adjourned meeting) shall be the act of the Board, regardless of whether
or not a quorum is present at the time such action is taken. In determining the number of directors who are present at the time
any such action is taken, any Director who is in attendance at such meeting but who, for just cause, is disqualified to vote on
such matter, shall not be considered as being present at the time of such action for the purpose of establishing the number of
votes required to take action on any matter submitted to the Board, but shall be considered as being present for purposes of determining
the existence of a quorum.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">36.2</TD><TD STYLE="padding-right: 0pt">In the event a quorum cannot be established at the beginning of a meeting, a majority of the Directors
present at the meeting, or the Secretary of the Company, if there be no Director present, may adjourn the meeting from time to
time until a quorum be present. Only such notice of such adjournment need be given as the Board may from time to time prescribe.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">37.</TD><TD STYLE="padding-right: 0pt"><U>Regulations of the Board.</U> The Board may adopt such rules and regulations for the conduct
of its meetings and or the management of the business and affairs of the Company as it may deem proper and not inconsistent with
Applicable Law and these Bye-laws.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">38.</TD><TD STYLE="padding-right: 0pt"><U>Written Consent in Lieu of Board Meetin</U>g<U>s.</U> A resolution in writing signed or approved by all the Directors shall
be as valid and effectual as a resolution
passed at a meeting of the Board duly called and constituted. Such a resolution may be contained in one document or in several
documents in like form, each signed or approved by one or more of the Directors and shall take effect as of the time of the last
signature is affixed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.05pt 0pt 41pt; text-align: justify"></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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">39.</TD><TD STYLE="padding-right: 0pt"><U>Telephonic Participation in Board Meetings.</U> Any and all members of the Board may participate
in a meeting of the Board by means of a conference telephone, satellite, video-conference
or similar communications equipment by means of which all persons participating in such meeting shall hear each other; participation
in a meeting pursuant to this Bye-law 39 shall constitute presence in person at such meeting.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.3pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">40.</TD><TD STYLE="padding-right: 0pt"><U>Compensation of Directors.</U> Directors shall be entitled to such compensation for their
services as Directors and to such reimbursement for any reasonable expense incurred in attending meetings of the Board as may from
time to time be fixed by the Board. The compensation may be on such basis as is determined by the Board. Any Director may waive
compensation for any meeting. Any Director receiving compensation under these provisions shall not be barred from serving the Company
in any other capacity and receiving compensation and reimbursement for reasonable expenses for such other services.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">41.</TD><TD STYLE="padding-right: 0pt"><U>Delegation of Board Powers.</U> The Board may by power of attorney or otherwise appoint any
person, whether nominated directly or indirectly by the Board, to be the attorney or agent of the Company and may delegate to such
person any of the Board&#8217;s powers, authorities and discretions (with power to sub-delegate) for such period and subject to
such conditions as it may think fit. The Board may revoke or vary any such appointment or delegation, but no person dealing in
good faith and without notice of such revocation or variation shall be affected by any such revocation or variation. Any such power
of attorney or other documentation may contain such provisions for the protection and convenience of persons dealing with any such
attorney or agent as the Board may think fit.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">41.1</TD><TD STYLE="padding-right: 0pt">The Board may entrust to and confer upon any Officer any of its powers, authorities and discretions
(with power to sub- delegate) on such terms and conditions with such restrictions as it thinks fit and either collaterally with,
or to the exclusion of, its own powers and may from time to time revoke or vary all or any of such powers, but no person dealing
in good faith and without notice of such revocation or variation shall be affected by any revocation or variation.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">41.2</TD><TD STYLE="padding-right: 0pt">The Board may delegate any of its powers, authorities and discretions (with power to sub-delegate)
to any committee of the Board, consisting of such number of Directors as it thinks fit. The Board may make any such delegation
on such terms and conditions with such restrictions as it thinks fit and either collaterally with, or to the exclusion of, its
own powers and may from time to time revoke or vary such delegation, but no person dealing in good faith and without notice of
such revocation or variation shall be affected by any revocation or variation. Any committee so formed shall, in the exercise of
the powers, authorities and discretions so delegated, conform to any regulations that may be imposed on it by the Board. The power
to delegate to a committee extends to all the powers, authorities and discretions of the Board generally and shall not be limited
by the fact that certain provisions of these Bye-laws expressly refer to a committee or to the particular powers, authorities or
discretions of the Board or a Board committee.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">42.</TD><TD STYLE="padding-right: 0pt"><U>Executive Committee.</U> The Board may appoint an Executive Committee consisting of one or
more Directors, one of whom shall be designated as Chairman of the Executive Committee. Each member of the Executive Committee
shall continue as a member thereof until the expiration of his term as a Director or his earlier resignation or removal as a member
of the Executive Committee or as a Director or until his death.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">43.</TD><TD STYLE="padding-right: 0pt"><U>Powers of the Executive Committee.</U> The Executive Committee shall have and may exercise
all the powers and authority of the Board in the management of the business and affairs of the Company, and may authorize the seal
of the Company to be affixed to all papers which may require it; but shall not have power or authority in reference to the following
matters: (i) approving or adopting, or recommending to the Shareholders,
any action or matter expressly required by Applicable Law to be submitted to Shareholders for approval or (ii) adopting, amending
or repealing any Bye-law of the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">44.</TD><TD STYLE="padding-right: 0pt"><U>Procedures and Meetings of the Executive Committee</U>. The Executive Committee shall fix
its own rules of procedure and shall meet at such times and at such place or places as may be provided by such rules or as the
members of the Executive Committee shall fix. The Executive Committee shall keep minutes of its meetings, which it shall deliver
to the Board from time to time. The Chairman of the Executive Committee or, in his absence, a member of the Executive Committee
chosen by a majority of the members present shall preside at meetings of the Executive Committee, and the Secretary, or in his
absence, an Assistant Secretary, or in his absence another member of the Executive Committee chosen by the Executive Committee,
shall act as secretary of the Executive Committee.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">45.</TD><TD STYLE="padding-right: 0pt"><U>Quorum and Voting of the Executive
Committee</U>. A majority of the Executive Committee shall constitute a quorum for the transaction of business, and the affirmative vote
of a majority of the members present at any meeting at which there is a quorum shall be required for any action of the Executive
Committee; <U>provided, however,</U> that when an Executive Committee of one member is authorized under the provisions of these
Bye-laws, that one member shall constitute a quorum.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.4pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">46.</TD><TD STYLE="padding-right: 0pt"><U>Other Committees.</U> The Board may appoint such other committee or committees as it shall
deem advisable and with such rights, powers, and authority as it shall prescribe. Each such committee shall consist of one or more
Directors. Unless otherwise provided by the Board or these Bye-laws, a majority of the members of each such other committee shall
constitute a quorum, and the acts of a majority of the members present at a meeting at which a quorum is present shall be the act
of such committee.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">47.</TD><TD STYLE="padding-right: 0pt"><U>Vacancies; Committee Changes.</U> In the absence or disqualification of a member of any committee,
the member or members thereof present at any meeting and not disqualified from voting, whether or not he or they constitute a quorum,
may unanimously appoint another member of the Board to act at the meeting in the place of any such absent or disqualified member.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.4pt">47.1</TD><TD STYLE="padding-right: 0pt">The Board shall have the power at any time to fill vacancies in, to change the membership of,
and to discharge, any committee or any member of any committee.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">48.</TD><TD STYLE="padding-right: 0pt"><U>Compensation of Committee Members.</U> Members of any committee shall be entitled to such
compensation for their services as members of the committee and to such reimbursement for any reasonable expenses incurred in attending
committee meetings as may from time to time be fixed by the Board. Any committee member may waive compensation for any meeting.
Any committee member receiving compensation under these provisions shall not be barred from serving the Company in any other capacity
and from receiving compensation and reimbursement of reasonable expenses for such other services.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">49.</TD><TD STYLE="padding-right: 0pt"><U>Telephonic Participation in Committee Meetings.</U> Any and all members of any committee designated
by the Board may participate in a meeting of such committee by means of conference telephone, satellite, video-conference or similar
communications equipment by means of which all persons participating in such meeting can hear each other, and participation in
such a meeting pursuant to this Bye-law shall constitute presence in person at such meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.75pt">50.</TD><TD STYLE="padding-right: 0pt"><U>Written Consent in Lieu of Committee Meetin</U>g<U>s.</U> A resolution in writing signed or approved by all the members
of any committee of the Board shall be as valid and effectual
as a resolution passed at a meeting of the committee duly called and constituted. Such a resolution may be contained in one document
or in several documents in like form, each signed or approved by one or more of the committee members and shall take effect as
of the time of the last signature is affixed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 12.4pt 0pt 41pt"></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">51.</TD><TD STYLE="padding-right: 0pt"><U>Waiver of Notices.</U> Whenever any notice is required to be given by Applicable Law or these Bye-laws, a written
                                 waiver thereof; signed by the person or persons entitled
to such notice, whether before or after the time stated therein, shall be deemed equivalent to such notice. Neither the business
to be transacted at, nor the purpose of any general meeting of Shareholders, any meeting of other securityholders, the Board, or
any committee of the Board need be specified in any written waiver of notice unless so required by Applicable Law or these Bye-laws.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.6pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">52.</TD><TD STYLE="padding-right: 0pt"><U>Attendance at Meetin</U>g<U>s.</U> Attendance of a person at any meeting, whether of Shareholders
or other securityholders (in person or by proxy), or the Board or any committee of the Board, shall constitute a waiver of notice
of such meeting, except when such person attends such meeting for the express purpose of objecting, and objects, at the beginning
of the meeting, to the transaction of any business on the ground that the meeting is not legally called or convened.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">53.</TD><TD STYLE="padding-right: 0pt"><U>Number and Qualifications of Officers.</U> The officers of the Company shall include the
                                                            Chairman, one or more Deputy Chairmen, and a Secretary and may include a President, one or more Vice Presidents, a Treasurer
                                                            and such other officers as may be elected or appointed in accordance with the provisions of these Bye-laws. As and when
                                                            elected or appointed the officers shall have such power and perform such duties as set out in these Bye-laws. Any number of
                                                            offices, except the offices of President and Secretary, may be held by the
same person.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.95pt 0pt 41pt"></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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">54.</TD><TD STYLE="padding-right: 0pt"><U>Selection, Term of Office and Qualification of Officers.</U> The officers shall be elected
from time to time by the Board at its first regular meeting after each Annual General Meeting of Shareholders. Each officer shall
hold his office until his successor is elected and qualified or until he shall resign in the manner provided in these Bye-laws,
or until he shall have been removed in the manner provided in these Bye-law, or until his death. Other officers, including without
limitation one or more Assistant Treasurers and one or more Assistant Secretaries shall be chosen in such manner, hold office for
such period, have such authority, perform such duties and be subject to removal as may be prescribed by the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">55.</TD><TD STYLE="padding-right: 0pt"><U>Resignations of Officers.</U> Any officer may resign at any time upon written notice to the
Board, the President or the Secretary. Any such resignation shall take effect at the time specified therein or, if the time when
it shall become effective shall not be specified therein, immediately upon its receipt thereof by the Board or any such officer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">56.</TD><TD STYLE="padding-right: 0pt"><U>Removal of Officers.</U> Any officer may be removed at any time, either with or without cause,
by the Board; and any officer not elected by the Board may be removed in such manner as may be determined by the Board. Removal
from office however, shall not prejudice the contractual rights, if any, of the person removed except as provided in such contract
or such rights as otherwise may be afforded by Applicable Law.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">57.</TD><TD STYLE="padding-right: 0pt"><U>Vacancies in any Office.</U> Any vacancy occurring in any
office of the Company which is required by these Bye-laws to be elected by the Board, whether by death, resignation, removal or
otherwise, shall be filled for the unexpired portion of the term by the Board. A vacancy in any other office shall be filled in
such manner as may be determined by the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">58.</TD><TD STYLE="padding-right: 0pt"><U>Chairman.</U> The Chairman, subject to the direction of the Board, shall have general charge
of the business, affairs and property of the Company and general supervision over its other officers and agents and shall see that
all orders and resolutions of the Board are carried into effect and, subject to appointment by the Board, may also hold such other
office including Chief Executive Officer of the Company.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 33.75pt">59.</TD><TD STYLE="padding-right: 0pt"><U>Deputy Chairman.</U> The Deputy Chairman or, in the event there be more than one, the Deputy
Chairmen in the order designated, or in the absence of any designation, in the order of their seniority, shall have such powers
and perform such duties as may from time to time be assigned to him by the Board and shall report to the Chairman, subject to the
control of the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">60.</TD><TD STYLE="padding-right: 0pt"><U>The President.</U> The President, subject to the control of the Chairman and the Board, shall
have general and active management of the business of the Company and the general and active supervision and direction over the
business operations and affairs of the Company and over its several officers, agents and employees and, subject to the appointment
by the Board, may also hold such other office including Chief Operating Officer of the Company. He shall, unless also a Director,
be an ex officio member of all committees of the Board. In general, he shall have such other powers and shall perform such other
duties as usually pertain to the office of President or as from time to time may be assigned to him by the Board or these Bye-laws.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">61.</TD><TD STYLE="text-align: left; padding-right: 0pt"><U>Vice Presidents.</U> The Vice President or, in the event there be more
than one, the Vice Presidents in the order designated, or in the absence of any designation, in the order of their seniority, shall
have such powers and perform such duties as from time to time may be assigned to him by the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">62.</TD><TD STYLE="padding-right: 0pt"><U>The Treasurer and Assistant Treasurers.</U></TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(a)</TD><TD STYLE="padding-right: 0pt">have charge and custody of, and be responsible for, all the funds and securities of the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(b)</TD><TD STYLE="padding-right: 0pt">keep full and accurate accounts of receipts and disbursements in books belonging to the Company;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(c)</TD><TD STYLE="padding-right: 0pt">cause all moneys and other valuables to be deposited to the credit of the Company in such depositories
as may be designated by the Board;</TD></TR></TABLE>




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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(d)</TD><TD STYLE="padding-right: 0pt">receive, and give receipts for moneys due and payable to the Company from any source whatsoever;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(e)</TD><TD STYLE="padding-right: 0pt">disburse the funds of the Company and supervise the investment of its funds as ordered or authorized
by the Board, taking proper vouchers therefor;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(f)</TD><TD STYLE="padding-right: 0pt">render to the President and the Board at the regular meetings of the Board, or whenever they
may request it, an account of all his transactions as Treasurer and of the financial condition of the Company; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(g)</TD><TD STYLE="padding-right: 0pt">in general, have all the powers and perform all the duties incident to the office of Treasurer
and such other duties as from time to time may be assigned to him by the Board or the President.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Assistant Treasurer or Assistant Treasurers, if
any, shall in the absence or disability of the Treasurer or at his request, perform his duties and exercise his powers and authority
as may be assigned to him by the Board or the President.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.75pt">63.</TD><TD STYLE="padding-right: 0pt"><U>The Secretary and Assistant Secretaries.</U></TD></TR></TABLE>

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

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

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

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<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(a)</TD><TD STYLE="padding-right: 0pt">attend all meetings of the Board, any committee of the Board, Shareholders and other securityholders
and record all votes and the proceedings of such meetings in minute books to be kept by him for that purpose;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(b)</TD><TD STYLE="padding-right: 0pt">see that all notices are duly given in accordance with the provisions of these Bye-laws and as
required by Applicable Law;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(c)</TD><TD STYLE="padding-right: 0pt">be custodian of the records and the seal of the Company and affix and attest the seal to all
Share certificates of the Company (unless the seal of the Company on such certificates shall be a facsimile, as hereinafter provided)
and affix and attest the seal to all other documents to be executed on behalf of the Company under its seal;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(d)</TD><TD STYLE="padding-right: 0pt">see that the books, reports, statements, certificates and other documents and records required
by Applicable Law to be kept and filed are properly kept and filed; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(e)</TD><TD STYLE="padding-right: 0pt">in general, have all the powers and perform all the duties incident to the office of Secretary
and such other duties as from time to time may be assigned to him by the Board or the President.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Assistant Secretary or Assistant Secretaries, if
any, shall, in the absence or disability of the Secretary or at his request, perform his duties and exercise his powers and authority
as may be assigned to him by the Board or the President.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">64.</TD><TD STYLE="padding-right: 0pt"><U>Compensation of Officers.</U> The compensation of all officers of the Company shall be fixed
from time to time by the Board; no officer of the Company shall be prevented from receiving compensation because he is also a Director
of the Company.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share Certificates, Transfers AND Transmissions</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">65.</TD><TD STYLE="padding-right: 0pt"><U>Share Certificates.</U> Certificates for Shares of the Company shall be in such form, not inconsistent
with these Bye-laws, as shall be approved by the Board and shall be signed by or in the name of the Company by the Chairman or
by the President or a Vice President, and by the Treasurer or an Assistant Treasurer, or the Secretary or an Assistant Secretary,
provided that the signatures of any such officers thereon may be facsimiles. The seal of the Company shall be impressed, by original
or by facsimile, printed or engraved, on all such certificates. A certificate may also be signed by the transfer agent and a registrar
as the Board may determine, and in such case the signature of the transfer agent or the registrar may also be facsimile, engraved
or printed. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon such
certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may nevertheless
be issued by the Company with the same effect as if he were such officer, transfer agent or registrar at the date of issue. Notwithstanding
the foregoing, at the discretion of the Board or the Secretary, the Company may issue Shares in uncertificated form upon the initial
issuance of such Shares or thereafter upon surrender of any certificates representing such Shares.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.4pt 0pt 41pt"></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"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">66.</TD><TD STYLE="padding-right: 0pt"><U>The Share Register.</U> The Register shall be kept in the manner prescribed by the Companies
Acts at the Registered Office or at such other place in Bermuda as may be authorised by the Board from time to time. The Company
may also keep one or more branch registers at such place or places outside Bermuda to the extent and in the manner permitted by
the Companies Acts, and the Board may make such regulations as it thinks fit regarding the keeping of any branch register and may
revoke or vary any such regulations. The Board may authorise any Share on the Register to be included in a branch register or any
Share registered on a branch register to be registered on another branch register, provided that at all times the Register is maintained
in accordance with the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">67.</TD><TD STYLE="padding-right: 0pt"><U>Registration of Transfers.</U> Registration of transfer of certificates representing Shares
shall be effected only on the books of the Company only upon authorization by the registered holder thereof, or by his attorney
authorized by power of attorney duly executed and filed with the Secretary or with a designated transfer agent or transfer clerk,
and upon surrender to the Company or any transfer agent of the Company of the certificate or certificates being transferred, which
certificate shall be properly endorsed or accompanied by a duly executed share transfer in the usual common form or in any other
form that the Board may from time to time approve, proof of all necessary government and regulatory approvals governing the transfer
of the Shares and the payment of all taxes thereon. Whenever a certificate is endorsed by or accompanied by a share transfer form
executed by someone other than the person or persons named in the certificate, evidence of authority to transfer shall also be
submitted with the certificate. Whenever any transfers of Shares shall be made for collateral security and not absolutely, and
both the transferor and transferee request the Company to do so, such fact shall be stated in the entry of the transfer.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.</TD><TD STYLE="padding-right: 0pt"><U>Transmission of Shares.</U> In the case of the death of a Shareholder, the survivor or survivors,
or the estate representative, as appropriate, shall be the only person or persons recognised by the Company as having any title
to Shares held by such holder. Nothing in these Bye-laws shall release the estate of a deceased holder from any liability in respect
of any Share held by such holder either solely or jointly with other persons. In this Bye-law, estate representative means the
person to whom probate or letters of administration or confirmation as executor has or have been granted under the laws applicable
to the estate of the deceased Shareholder or, failing such person, such other person as the Board may in its absolute discretion
determine to be the person recognised by the Company for the purpose of this Bye-law.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.1.</TD><TD STYLE="padding-right: 0pt">In the case of a person becoming entitled to a Share in consequence of the death of a Shareholder
or otherwise by operation of Applicable Law, the Board may require the production to the Company of such evidence of such person&#8217;s
entitlement as is prescribed by the Companies Acts or, to the extent that no such evidence is prescribed, as may from time to time
be required by the Board. Upon production of such evidence the name and address of the person so entitled shall be noted in the
Register.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.2.</TD><TD STYLE="padding-right: 0pt">Subject to these Bye-laws, any Person Entitled by Transmission to a Share shall be entitled to
receive (and may give a discharge for) any dividends or other moneys payable in respect of the Share, to attend and vote in respect
of the Share at general meetings of the Company and of the relevant class of Shareholders and generally to exercise in respect
of the Share all of the rights or privileges of a Shareholder as if such person were registered as the holder of the Share.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.3.</TD><TD STYLE="padding-right: 0pt">Any Person Entitled by Transmission to a Share may elect either to be registered as the holder
of the Share or to have a nominee registered as the transferee. Any such person electing to be registered shall deliver or send
to the Company a signed written notice stating that such person so elects. Any such person electing to have a nominee registered
shall signify that election by signing an instrument of transfer in favour of such nominee. All the provisions of these Bye-laws
relating to the right to transfer and the registration of transfer of Shares shall apply to any such notice or instrument of transfer
as if the death of the Shareholder or other event giving rise to the transmission had not occurred and the notice or instrument
of transfer was an instrument of transfer signed by such Shareholder.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.4.</TD><TD STYLE="padding-right: 0pt">The Board may at any time give notice requiring a Person Entitled by Transmission to a Share
to elect either to be registered or to transfer the Share, and if the person does not comply with the notice within sixty (60)
days the Board may withhold payment of all dividends and other moneys payable in respect of the Share until the person complies
with the notice.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">68.5.</TD><TD STYLE="padding-right: 0pt">Subject to any directions of the Board from time to time in force, the Secretary may exercise
all powers and discretions of the Board under this Bye-law 68.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">69.</TD><TD STYLE="padding-right: 0pt"><U>Determination of Shareholders.</U> Except as otherwise provided by Applicable Law, the Company
shall be entitled to recognize the exclusive right of a person in whose name any Share or Shares stand on the register of Shareholders
as the owner of such Share or Shares for all purposes, including, without limitation, the rights to receive dividends or other
distributions, and to vote as such owner, the Company may hold any such Shareholder of record liable for calls and assessments
and the Company shall not be bound to recognize any trust or any equitable, contingent, or legal claim to or interest in any such
Share or Shares on the part of any other person whether or not it shall have express or other notice thereof.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">70.</TD><TD STYLE="padding-right: 0pt"><U>Regulations, Governing Issuance and Transfer of Shares.</U> The Board shall have the power
and authority to make all such rules and regulations, not inconsistent with these Bye-laws, as it may deem expedient concerning
the issue, transfer and registration of Shares. It may appoint, or authorize any officer or officers to appoint, one or more transfer
agents or one or more transfer clerks and one or more registrars and may require all Share certificates to bear the signature or
signatures of any of them.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">71.</TD><TD STYLE="padding-right: 0pt"><U>Fixing Record Date.</U> In order that the Company may determine the Shareholders of record
entitled to notice of, or to vote at, any meeting of Shareholders or any adjournment thereof, or entitled to express consent to
corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution or allotment
of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of Share or for the purpose
of any other lawful action, the Board may fix, in advance, a record date, which shall not be more than sixty (60) nor less than
ten (10) days before the date of such meeting, nor more than sixty (60) days prior to any other action. Except as otherwise provided
by Applicable Law, or these Bye-laws or by resolution of the Board:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(1)</TD><TD STYLE="text-align: justify; padding-right: 0pt">The record date for determining Shareholders entitled to notice of or to
vote at a meeting of Shareholders shall be at the close of business on the day next preceding the day on which notice is given,
or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(2)</TD><TD STYLE="padding-right: 0pt">The record date for determining Shareholders entitled to express consent to corporate action
in writing without a meeting, when no prior action by the Board is necessary, shall be the day on which the first written consent
is expressed; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(3)</TD><TD STYLE="padding-right: 0pt">The record date for determining Shareholders for any other purpose shall be at the close of business
on the day on which the Board adopts the resolution relating thereto.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.4pt">71.1</TD><TD STYLE="padding-right: 0pt">A determination of Shareholders of record entitled to notice of or to vote at a meeting of Shareholders
shall apply to any adjournment of the meeting; provided, however, that the Board may fix a new record date for the adjourned meeting.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">72.</TD><TD STYLE="padding-right: 0pt"><U>Lost, Stolen or Destroyed Share Certificates.</U> The holder of any certificates representing
Shares shall immediately notify the Company of any loss, theft, destruction or mutilation of such certificate, and the Board may
authorize the issuance of a new certificate in lieu thereof upon satisfactory proof of such loss, theft or destruction upon the
giving of an open penalty bond with surety satisfactory to the Treasurer and the Company&#8217;s counsel, to protect the Company
or any person injured on account of the alleged loss, theft or destruction of any such certificate or the issuance of a new certificate
from any liability or expense which it or they may incur by reason of the original certificates remaining outstanding and upon
payment of the Company&#8217;s reasonable costs incident thereto.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">73.</TD><TD STYLE="padding-right: 0pt"><U>Dividends and Reserves.</U> Subject to the Companies Act and the rights attaching to a particular
class or series of Shares, the Board may, out of funds available therefor, declare dividends upon Shares to be paid to the Shareholders,
according to their respective rights and interests as and when they deem expedient, and may fix the time for payment of such dividends.
The Company may deduct from any dividend, distribution or other monies payable to a Shareholder by the Company on or in respect
of any Shares all sums of money (if any) presently payable by the Shareholder to the Company on account of calls or otherwise in
respect of Shares. No dividend, distribution or other monies payable by the Company on or in respect of any Share shall bear interest
against the Company. The Board of Directors may allocate a portion of the Company&#8217;s share premium (or paid in capital in
excess of par) account to the Company&#8217;s par value account and thereby pay up in full unissued shares to be allocated as fully
paid bonus shares pro rata to the Shareholders.</TD></TR></TABLE>

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

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

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




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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.75pt">74.</TD><TD STYLE="padding-right: 0pt"><U>Winding-Up.</U> If the Company is wound up, the liquidator may, with the sanction of a Resolution and any other
                                                                  sanction required by the Companies Acts:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(1)</TD><TD STYLE="padding-right: 0pt">divide among the Shareholders in cash or in kind the whole or any part of the assets of the
Company (whether they consist of property of the same kind or not) and for such purposes set such value as the liquidator deems
fair on any property to be so divided, and determine how such division shall be carried out as between the Shareholders or different
classes of Shareholders, provided that in all events, amounts will be distributed pursuant to the rights attached to those Shares
then outstanding; and</TD></TR>                               <TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt">&nbsp;</TD><TD STYLE="padding-right: 0pt">&nbsp;</TD><TD STYLE="padding-right: 0pt">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt"></TD><TD STYLE="padding-right: 0pt; width: 35.85pt">(2)</TD><TD STYLE="padding-right: 0pt">vest the whole or any part of such assets in trustees upon such trusts for the benefit of the
contributories as the liquidator, with the like sanction, thinks fit, but so that no Shareholder shall be compelled to accept any
Shares or other assets upon which there is any liability.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">EXEMPTION AND INDEMNIFICATION OF DIRECTORS AND
OFFICERS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.</TD><TD STYLE="padding-right: 0pt"><U>Exemption and Indemnification of Officers.</U> Subject always to these Bye-laws, no Officer
shall be liable for the acts, receipts, neglects or defaults of any other Officer nor shall any Officer be liable in respect of
any negligence, default or breach of duty on his or her own part in relation to the Company or any Subsidiary, or for any loss,
misfortune or damage which may happen, in or arising out of the actual or purported execution or discharge of his or her duties
or the exercise or purported exercise of his or her powers or otherwise in relation to or in connection with his or her duties,
powers or office.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.1.</TD><TD STYLE="padding-right: 0pt">Subject always to these Bye-laws, every Officer shall be indemnified and held harmless out of
the funds of the Company against all liabilities, losses, damages or expenses (including but not limited to liabilities under contract,
tort and statute or any applicable foreign law or regulation and all legal and other costs and expenses properly payable) incurred
or suffered by the Officer arising out of the actual or purported execution or discharge of the Officer&#8217;s duties (including.
without limitation, in respect of his or her service at the request of the Company as a director, officer, partner, trustee, employee,
agent or similar functionary of another person) or the exercise or purported exercise of the Officer&#8217;s powers or otherwise,
in relation to or in connection with the Officer&#8217;s duties, powers or office (including but not limited to liabilities attaching
to the Officer and losses arising by virtue of any rule of law in respect of any negligence, default, breach of duty or breach
of trust of which such Officer may be guilty in relation to the Company or any Subsidiary of the Company).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.2.</TD><TD STYLE="padding-right: 0pt">Every Officer shall be indemnified out of the funds of the Company against all liabilities arising
out of the actual or purported execution or discharge of the Officer&#8217;s duties or the exercise or purported exercise of the
Officer&#8217;s powers or otherwise, in relation to or in connection with the Officer&#8217;s duties, powers or office, incurred
by such Officer in defending any proceedings, whether civil or criminal, in which judgement is given in the Officer&#8217;s favour,
or in which the Officer is acquitted, or in connection with any application under the Companies Acts in which relief from liability
is granted to the Officer by the court.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.3.</TD><TD STYLE="padding-right: 0pt">In this Bye-law 75 (i) the term &#8220;Officer&#8221; includes, in addition to the persons specified
in the definition of that term in Bye-law 1, the Resident Representative, a member of a committee constituted under these Bye-laws,
any person acting as an Officer or committee member in the reasonable belief that the Officer has been so appointed or elected,
notwithstanding any defect in such appointment or election, and any person who formerly was an Officer or acted in any of the other
capacities described in this clause (i) and (ii) where the context so admits, references to an Officer include the estate and personal
representatives of a deceased Officer or any such other person.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.4.</TD><TD STYLE="padding-right: 0pt">The provisions for exemption from liability and indemnity contained in this Bye-law shall have
effect to the fullest extent permitted by Applicable Law, but shall not extend to any matter which would render any of them void
pursuant to the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.5.</TD><TD STYLE="text-align: left; padding-right: 0pt">To the extent that any person is entitled to claim an indemnity pursuant to these Bye-laws in
respect of an amount paid or discharged by him, the relevant indemnity shall take effect as an obligation of the Company to reimburse
the person making such payment (including advance payments of fees or other costs) or effecting such discharge.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.6.</TD><TD STYLE="padding-right: 0pt">The rights to indemnification and reimbursement of expenses provided by these Bye-laws shall
not be deemed to be exclusive of, and are in addition to, any other rights to
which a person may be entitled. Any repeal or amendment of this Bye-law 75 shall be prospective only and shall not limit the rights
of any Officer or the obligation of the Company with respect to any claim arising prior to any such repeal or amendment.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9.95pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.7.</TD><TD STYLE="padding-right: 0pt">In so far as it is permissible under Applicable Law, each Shareholder and the Company agree to
waive any claim or right of action the Shareholder or it may at any time have, whether individually or by or in the right of the
Company, against any Officer on account of any action taken by such Officer or the failure of such Officer to take any action in
the performance of his duties with or for the Company, provided however, that such waiver shall not apply to any claims or rights
of action arising out of the fraud or dishonesty of such Officer or to recover any gain, personal profit or advantage to which
such Officer is not legally entitled.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">75.8.</TD><TD STYLE="padding-right: 0pt">Subject to the Companies Acts, expenses incurred in defending any civil or criminal action or
proceeding for which indemnification is required pursuant to this Bye-law 75 shall be paid by the Company in advance of the final
disposition of such action or proceeding upon receipt of an undertaking by or on behalf of the indemnified party to repay such
amount if it shall ultimately be determined that the indemnified party is not entitled to be indemnified pursuant to this Bye-law
75.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.4pt">75.9</TD><TD STYLE="padding-right: 0pt">Each Shareholder of the Company, by virtue of its acquisition and continued holding of a Share,
shall be deemed to have acknowledged and agreed that the advances of funds may be made by the Company as aforesaid, and when made
by the Company under this Bye-law 75 are made to meet expenditures incurred for the purpose of enabling such Officer to properly
perform his or her duties as an Officer.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">76.</TD><TD STYLE="padding-right: 0pt"><U>Accounting Records.</U> The Board shall cause accounting records of the Company to be kept
in accordance with the requirements of the Companies Acts.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">76.1.</TD><TD STYLE="padding-right: 0pt">The records of account shall be kept at the Registered Office or at such other place or places
as the Board thinks fit. If the records of account are kept at some place outside Bermuda, there shall be kept at an office of
the Company in Bermuda such records as are required by the Companies Acts to be so kept. The records of account shall at all times
be open to inspection by the Directors and, to the extent prescribed by the Companies Acts, by the Resident Representative. No
Shareholder (other than a Director) shall have any right to inspect any accounting record or book or document of the Company except
as conferred by Applicable Law or authorised by the Board or by Resolution.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">76.2.</TD><TD STYLE="padding-right: 0pt">The Board shall arrange for the financial statements of the Company to be prepared and audited
in respect of each year or other period from time to time fixed by the Board and shall arrange for those financial statements to
be made available to Shareholders and laid before the Shareholders in general meeting in accordance with the requirements of the
Companies Acts.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">77.</TD><TD STYLE="padding-right: 0pt"><U>Auditors.</U> Auditors shall be appointed and their duties regulated in accordance with the
Companies Acts, Applicable Law and such requirements not inconsistent with the Companies Acts and Applicable Law as the Board may
from time to time determine.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">78.</TD><TD STYLE="padding-right: 0pt"><U>Execution of Contracts, Papers and Documents.</U> Except as otherwise required by Applicable
Law or these Bye-laws, any contract or other instrument may be executed and delivered in the name and on behalf of the Company
by such officers or employees of the Company, or such other person as the Board may from time to time determine, or in the absence
of such determination, by the Chairman or the President. Such authority may be general or confined to specific instances as the
Board may determine. Unless authorized by the Board or expressly permitted by these Bye-laws, no officer or agent or employee shall
have any power or authority to bind the Company by any contract or engagement or to pledge its credit or to incur a pecuniary liability
for any purpose.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">79.</TD><TD STYLE="padding-right: 0pt"><U>Voting Shares in Other Companies.</U> The Company may vote any and all shares and other securities
having voting rights which may at any time and from time to time be held by
it in any other company or companies and such vote may be cast either in person or by proxy by such officer of the Company as the
Board may appoint or, in the absence of such appointment, by the Chairman or President.</TD></TR></TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.6pt 0pt 41pt"></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">80.</TD><TD STYLE="text-align: left; padding-right: 0pt"><U>Cheques, Drafts, etc.</U> All cheques, drafts, bills of exchange or other
orders for the payment of money out of the funds of the Company, and all notes or other evidences of indebtedness of the Company,
shall be signed in the name and on behalf of the Company by such persons and in such manner as shall from time to time be authorized
by the Board.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">81.</TD><TD STYLE="padding-right: 0pt"><U>Corporate Seal.</U> The Seal shall consist of a circular metal device with the name of the
Company around its outer margin and the country and the year of incorporation across its centre. The Company may also have for
use in any territory outside Bermuda one or more additional Seals, each of which shall be a duplicate of the Seal.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 35.4pt">81.1</TD><TD STYLE="padding-right: 0pt">The Board shall provide for the custody of every Seal. A Seal shall only be used by authority
of the Board or of a committee of the Board. Subject to the Companies Acts, and except as otherwise provided in these Bye-laws,
any instrument to which a Seal is affixed shall be signed by an Officer or by any person who has been authorised by the Board either
generally or specifically to attest to the use of a Seal.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">82.</TD><TD STYLE="padding-right: 0pt"><U>Fiscal Year.</U> The fiscal year of the Company shall be a period of twelve (12) calendar
months beginning January 1 and ending on the following December 31 in the same year.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Transactions with Directors and Officers</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">83.</TD><TD STYLE="padding-right: 0pt"><U>Affiliated Transactions.</U> A Director may hold any other office or place of profit with
the Company (except that of auditor) in addition to his or her office of Director for such period and upon such terms as the Board
may determine, and may be paid such extra remuneration for so doing (whether by way of salary, commission, participation in profits
or otherwise) as the Board may determine, in addition to any remuneration or other amounts payable to a Director pursuant to any
other Bye-law.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">83.1</TD><TD STYLE="padding-right: 0pt">A Director may act in a professional capacity for the Company (otherwise than as auditor) and
the Director shall be entitled to remuneration for professional services as if he or she were not a Director.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 0.5in">83.2</TD><TD STYLE="padding-right: 0pt">Subject to the Companies Acts, a Director, (i) may be a party to, or otherwise interested in,
any transaction or arrangement with the Company or in which the Company is otherwise interested, and (ii) may be a director or
other officer of, or employed by, or a party to any transaction or arrangement with, or otherwise interested in, any company or
other person promoted by the Company or in which the Company is interested. A Director who in any way, whether directly or indirectly,
to his or her knowledge has a material interest in a contract with the Company or any of its subsidiaries shall declare the nature
of the Director&#8217;s interest at the first opportunity at a meeting of the Board at which the question of entering into the
contract is first taken into consideration, if the Director knows this interest then exists, or in any other case at the first
meeting of the Board after learning that he or she is or has become so interested.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">83.3</TD><TD STYLE="padding-right: 0pt">Subject to the Companies Acts and any further disclosure required thereby, a general notice
to the Directors by a Director or other Officer declaring that he or she is a director or officer of any company, or has a material
interest in, any company or person and is to be regarded as interested in any transaction or arrangement made with that company
or person, shall be a sufficient declaration of interest in relation to any transaction or arrangement so made.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">83.4</TD><TD STYLE="padding-right: 0pt">So long as, where it is necessary, a Director declares the nature of his or her interest in
accordance with this Bye-law, a Director shall not by reason of his or her office be accountable to the Company for any benefit
the Director derives from any office or employment to which these Bye-laws allow him or her to be appointed or from any transaction
or arrangement in which these Bye-laws allow the Director to be interested, and no such transaction or arrangement shall be avoided
on the ground of any such interest or benefit.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">84.</TD><TD STYLE="padding-right: 0pt"><U>Determining Quorum in the Event of Common or Interested Director.</U> Upon declaring their
interest, common or interested Directors may be counted in determining the presence of a quorum and, subject to these Bye-laws,
may vote at a meeting of the Board or of a committee thereof which considered or authorized the contract or transaction.</TD></TR></TABLE>

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

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

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




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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">85.</TD><TD STYLE="padding-right: 0pt"><U>Continuance.</U> Subject to the Companies Acts, approval of the Board and a Resolution passed
by a majority of the issued Shares entitled to vote may approve the discontinuation of the Company in Bermuda and the continuation
of the Company in a jurisdiction outside Bermuda.</TD></TR></TABLE>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">86.</TD><TD STYLE="padding-right: 0pt"><U>Amalgamation.</U> Any resolution proposed for consideration at any general meeting to approve
the amalgamation of the Company with any other company, wherever incorporated, shall require the approval of the majority provided
for in Bye-law 22 at such meeting and the quorum for such meeting shall be that required in Bye-law 19 and a poll may be demanded
in respect of such resolution in accordance with the provisions of the Companies Act.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SALE, LEASE OR EXCHANGE
OF ASSETS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">87.</TD><TD STYLE="padding-right: 0pt"><U>Sale, Lease or Exchange of Assets.</U> The Board of Directors is hereby expressly authorized
to sell, lease or exchange all or substantially all of the Company&#8217;s property and assets, including the Company&#8217;s goodwill
and its corporate franchises, upon such terms and conditions and for such consideration, which may consist in whole or in part
of money or other property, including shares of stock in, and/or other securities of, any other corporation or corporations, as
the Board of Directors deems expedient and for the best interests of the Company, subject to the authorization by a resolution
adopted by the affirmative vote of the holders of record of a majority of the outstanding shares of capital stock of the Company
entitled to vote on the relevant record date with respect thereto. Notwithstanding authorization or consent to a proposed sale,
lease or exchange of the Company&#8217;s property and assets by the shareholders, the Board of Directors may abandon such proposed
sale, lease or exchange without further action by the shareholders, subject to the rights, if any, of third parties under any contract
relating thereto.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">ALTERATION OF BYE-LAWS</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0pt; width: 36pt">88.</TD><TD STYLE="padding-right: 0pt"><U>Alteration of Bye-laws.</U> These Bye-laws may be revoked
or amended only by the Board, which may from time to time revoke or amend them in any way by a resolution of the Board, but no
such revocation or amendment shall be operative unless and until it is approved by a Resolution of the holders of a majority of
the issued Shares entitled to vote.</TD></TR></TABLE>



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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>nbr-20200420_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>nbr-20200420_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<span style="display: none;">v3.20.1</span><table class="report" border="0" cellspacing="2" id="idp6659036192">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Apr. 20, 2020</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</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="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Apr. 20,  2020<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-32657<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">NABORS INDUSTRIES LTD.<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001163739<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">98-0363970<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">D0<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Crown House<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">4 Par-la-Ville Road<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine3', window );">Entity Address, Address Line Three</a></td>
<td class="text">Second Floor<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Hamilton<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">BM<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">HM08<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">441<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">292-1510<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonStockMember', window );">Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</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="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common shares<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">NBR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</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="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Preferred
    shares &#8211;  Series A<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">NBR.PRA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<td>duration</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td>na</td>
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<td>duration</td>
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</div></td></tr>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<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_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<td><strong> Data Type:</strong></td>
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<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_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_EntityAddressAddressLine2</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>
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<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_EntityAddressAddressLine3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 3 such as an Office Park</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_EntityAddressAddressLine3</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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<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_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_EntityAddressCountry</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:countryCodeItemType</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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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>
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<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>
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</div></td></tr>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.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>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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="top.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="top.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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.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="top.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>
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<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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.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 d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.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_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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 soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.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> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.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_SolicitingMaterial</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.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_TradingSymbol</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.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 written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.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_WrittenCommunications</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
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  "r8": {
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   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
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