<SEC-DOCUMENT>0000059255-21-000013.txt : 20210304
<SEC-HEADER>0000059255-21-000013.hdr.sgml : 20210304
<ACCEPTANCE-DATETIME>20210304162158
ACCESSION NUMBER:		0000059255-21-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20210304
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210304
DATE AS OF CHANGE:		20210304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALHI INC /DE/
		CENTRAL INDEX KEY:			0000059255
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INORGANIC CHEMICALS [2810]
		IRS NUMBER:				870110150
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05467
		FILM NUMBER:		21714433

	BUSINESS ADDRESS:	
		STREET 1:		5430 LBJ FRWY
		STREET 2:		STE 1700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		9722331700

	MAIL ADDRESS:	
		STREET 1:		THREE LINCOLN CENTER
		STREET 2:		5430 LBJ FREEWAY SUITE 1700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240-2620

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LLC CORP
		DATE OF NAME CHANGE:	19870329

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIBERTY LOAN CORP
		DATE OF NAME CHANGE:	19800414
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
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<DESCRIPTION>VALHI, INC. FORM 8-K DATED MARCH 4, 2021
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">UNITED STATES</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Washington, D.C.&#160;&#160; 20549</div>

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    <div style="text-align: justify; margin-top: 18pt; margin-bottom: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation
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    <td style="width: 93.13%; vertical-align: middle;">
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    <td style="width: 93.13%; vertical-align: middle;">
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  <tr>

    <td style="width: 6.87%; vertical-align: top;">&#160;</td>

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    <td style="width: 6.87%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 14pt;">&#9723;</div>
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    <td style="width: 93.13%; vertical-align: middle;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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    <div style="text-align: justify; margin-top: 12pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>

    <div><br />
    </div>

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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold;">Symbol(s)</div>
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    <div>
      <div><br />
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      <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17&#160;CFR &#167;230.405) or Rule
        12b-2 of the Securities Exchange Act of 1934 (17 CFR &#167;240.12b-2).</div>

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    <div>
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    <div>
      <div><br />
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      <div style="text-align: left; margin-top: 6pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">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) of the Exchange Act.&#160; <ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_d4dc33e57fb44b6f9cd4e6d977a3d1f4" contextRef="c20210304to20210304" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"></span></div>

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    <div style="text-align: justify; text-indent: -72pt; margin-left: 72pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Item 3.03&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Material Modification to Rights of Security Holders.</div>

    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">&#160;</div>

    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">To the extent required by Item 3.03 of Form&#160;8-K, the information contained in Item 5.03 of this Form&#160;8-K is incorporated herein by
      reference.</div>

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    <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Item 5.03</td>

    <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</div>
          </td>

  </tr>


</table>
    <div><br />
    </div>

    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">At its meeting on March 4, 2021, the registrant&#8217;s board of directors, pursuant to Article VI of the registrant&#8217;s third amended and
      restated certificate of incorporation, amended and restated the registrant&#8217;s bylaws effective March 4, 2021.&#160; The approved amendments added a new Article X with forum selection provisions. Pursuant to the new provisions, unless the registrant
      consents in writing to selection of an alternative forum:</div>

    <div><br />
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    <div>
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              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction, the federal district court of the
                State of Delaware) shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the registrant, (ii) any action asserting a claim for or based on a breach of a fiduciary duty owed by any current or
                former director, officer, other employee, agent or stockholder of the registrant to the registrant or the registrant&#8217;s stockholders, (iii) any action asserting a claim against the registrant or any current or former director, officer,
                employee, agent or stockholder of the registrant arising pursuant to any provision of the Delaware General Corporation Law (&#8220;DGCL&#8221;) or the certificate of incorporation or bylaws or as to which the DGCL confers jurisdiction on the Court of
                Chancery of the State of Delaware, or (iv) any action asserting a claim related to or involving the registrant that is governed by the internal affairs doctrine.</div>
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            </td>

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              <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">the federal district courts of the United States of America shall, to the fullest extent permitted by law, be the sole and exclusive forum for
                the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</div>
            </td>

  </tr>


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    <div><br />
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">The foregoing description does not purport to be complete and is qualified in its entirety by reference to the complete text of the
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">The registrant also hereby furnishes the information set forth in its press release issued on March 4, 2021, a copy of which is attached
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">The information, including exhibit 99.1, the registrant furnishes in this current report under this Item 7.01 is not deemed &#8220;filed&#8221; for
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    <td style="width: 72pt; vertical-align: top; align: right; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">Item 9.01</td>

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    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

    <td style="width: 71.19%; vertical-align: top;">&#160;</td>

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    <td style="width: 5.94%; vertical-align: top;">&#160;</td>

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    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

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    <td style="width: 5.94%; vertical-align: top;">&#160;</td>

    <td style="width: 20.01%; vertical-align: top;">&#160;</td>

    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

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    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

    <td style="width: 71.19%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><a href="exh31.htm">Bylaws of Valhi, Inc. (Amended
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  </tr>

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            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><a href="exh991.htm">Press release dated March 4,
                2021 issued by the registrant</a>.</div>
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    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

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    <td style="width: 20.01%; vertical-align: top; border-bottom: #000000 2px solid;">&#160;</td>

    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

    <td style="width: 71.19%; vertical-align: top;">&#160;</td>

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  <tr>

    <td style="width: 5.94%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">*</div>
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    <td style="width: 20.01%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Filed herewith</div>
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    <td style="width: 2.86%; vertical-align: top;">&#160;</td>

    <td style="width: 71.19%; vertical-align: top;">&#160;</td>

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    </div>

    <div><br />
    </div>

    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">SIGNATURE</div>

    <div><br />
    </div>

    <div><br />
    </div>

    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">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.</div>

    <div><br />
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            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-variant: small-caps; font-weight: bold;">Valhi, Inc.</div>
          </td>

  </tr>

  <tr>

    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">(Registrant)</div>
          </td>

  </tr>

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    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 50.4%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 49.6%; vertical-align: top;">&#160;</td>

    <td style="width: 50.4%; vertical-align: top; border-bottom: 2px solid black;">
            <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">By:</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 26.1pt">&#160;</span><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;">/s/ Jane Grimm</span><span style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</span></span></div>
          </td>

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    <td style="width: 49.6%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Date:&#160; March 4, 2021</div>
          </td>

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            <div style="text-align: justify; margin-left: 26.1pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-style: italic;">Jane Grimm, Vice President and Secretary</div>
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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>exh31.htm
<DESCRIPTION>AMENDED AND RESTATED BYLAWS OF VALHI, INC. (AMENDED AND RESTATED AS OF MARCH 4, 2021)
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    <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;"> Exhibit 3.1<br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"> <br>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"><a name="AMENDEDANDRESTATEDBYLAWS"><!--Anchor--></a>AMENDED AND RESTATED</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">OF</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-variant: small-caps; font-weight: bold;">Valhi, Inc.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">a Delaware Corporation</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">(Amended and Restated as of March 4, 2021)</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">TABLE OF CONTENTS</div>
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    <div style="text-align: right; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><u>Page</u></div>
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    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEI.REGISTEREDAGENTA">ARTICLE&#160;I.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">REGISTERED AGENT AND OFFICES</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;1.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Registered Agent and Office</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;1.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Other Offices</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEII.MEETINGSOFSTOCK">ARTICLE&#160;II.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">MEETINGS OF STOCKHOLDERS</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Place and Time of Meetings</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Business to be Transacted at Meetings</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Notice</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.4&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Notice by Electronic Transmission</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.5.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">List of Stockholders</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.6.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Quorum</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.7.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Proxies</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;2.8.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Order&#160;of&#160;Business</font></div>
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    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEIII.">ARTICLE&#160;III.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">DIRECTORS</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Number, Qualifications and Term of Office</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Nomination of Director Candidates</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Removals</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Vacancies</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.5.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Annual Meeting</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.6.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Other Meetings and Notice</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.7.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Quorum</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.8.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Committees</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.9.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Committee Rules</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.10.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Telephonic Meetings</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.11.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Presumption of Assent</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.12.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Action Without a Meeting</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.13.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Compensation</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;3.14.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Minutes</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEIV.">ARTICLE&#160;IV.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">OFFICERS</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Number</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Election and Term of Office</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Chairman of the Board</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Vice Chairman of the Board</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.5.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The President</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.6.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Chief Executive Officer</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.7.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Chief Financial Officer</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.8.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Vice Presidents</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.9.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Secretary and Assistant Secretary</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.10.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">The Treasurer and Assistant Treasurer</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.11.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Vacancies</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.12.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Other Officers, Assistant Officers and Agents</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;4.13.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Normal Duties and Responsibilities of Officers</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEV.">ARTICLE&#160;V.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">INDEMNIFICATION AND INSURANCE OF DIRECTORS, OFFICERS AND OTHERS</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Indemnification</font></div>
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    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Advancement of Expenses</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Expenses of Contested Indemnification Claims</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Indemnification Not Exclusive</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.5.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Survival of Indemnification and Advancement of Expenses</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.6.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Employees, Agents and Others</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.7.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Contract Right</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.8.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Insurance</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;5.9.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Certain References Under Article V</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEVI.">ARTICLE&#160;VI.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">STOCK CERTIFICATES</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;6.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Form</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;6.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Transfers</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;6.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Lost or Destroyed Certificates</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;6.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Registered Stockholders</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;6.5.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Restrictions on Transfers of Shares</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEVII.">ARTICLE&#160;VII.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">CERTAIN BUSINESS COMBINATIONS</font></a></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEVIII.">ARTICLE&#160;VIII. <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">GENERAL PROVISIONS</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;8.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Dividends</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;8.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Accounts</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEIX.">ARTICLE&#160;IX.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">NOTICES</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;9.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">General</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;9.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Waivers</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;9.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Attendance as Waiver</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;9.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Omission of Notice to Stockholders</font></div>
    <div style="text-align: justify; text-indent: -36pt; margin-right: 36pt; margin-left: 36pt; margin-top: 3pt; margin-bottom: 3pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><a href="#ARTICLEX.">ARTICLE&#160;X.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">FORUM SELECTION</font></a></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;10.1.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Delaware Forum</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;10.2.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Securities Act Claims</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;10.3.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Notice and Consent</font></div>
    <div style="text-align: justify; text-indent: -63pt; margin-right: 36pt; margin-left: 99pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Section&#160;10.4.&#160;&#160;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Injunctive Relief</font></div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">AMENDED AND RESTATED</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;">BYLAWS</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">OF</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 14pt; font-variant: small-caps; font-weight: bold;">Valhi, Inc.</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">a Delaware Corporation</div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">(Amended and Restated as of March 4, 2021)</div>
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    <div><a name="ARTICLEI.REGISTEREDAGENTA"><!--Anchor--><br>
      </a> </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">ARTICLE&#160;</font>I.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">REGISTERED AGENT AND OFFICES</font></div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>1.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Registered Agent and Office</font>.&#160;&#160;The


      registered agent and office of the corporation shall be such person or entity and located at such place within the state of Delaware as the board of directors may from time to time determine.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>1.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Other Offices.</font>&#160;&#160;The
      corporation may also have offices at such other places, both within and without the state of Delaware, as the corporation&#8217;s board of directors may from time to time determine or the business of the corporation may require.</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEII.MEETINGSOFSTOCK"><!--Anchor--></a>ARTICLE&#160;</font>II.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">MEETINGS OF STOCKHOLDERS</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Place and Time of Meetings.</font>&#160;&#160;All


      meetings of the stockholders shall be held on such date and at such time and place, within or without the state of Delaware, as shall be determined, from time to time, by the board of directors or by means of remote communication at the discretion of
      the board of directors, as stated in the notice and call of the meeting or a duly executed waiver of notice thereof.&#160; The chairman of the board, the president, the chief executive officer, the board of directors or the holders of at least 15 percent
      of the shares of the corporation that would be entitled to vote at such a meeting may call special meetings of stockholders.&#160; If a special meeting is called by any person or persons other than the board of directors, the request shall be in writing,
      specifying the time of such meeting and the general nature of the business proposed to be transacted, and shall be delivered personally or sent by registered mail or by facsimile transmission to the chairman of the board, the president, the chief
      executive officer or the secretary of the corporation.&#160; Nothing contained in this Section shall be construed as limiting, fixing, or affecting the time when a meeting of stockholders called by action of the board of directors may be held.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Business to be Transacted at
        Meetings</font>.&#160;&#160;At a meeting of the stockholders, only such business shall be conducted as shall have been properly brought before the meeting.&#160; To be properly brought before a special meeting, business must be specified in the notice of the
      meeting (or any supplement thereto).&#160; To be properly brought before an annual meeting, business must be <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font> specified in the notice of the meeting
      (or any supplement thereto) given by or at the direction of the board of directors, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font> otherwise properly brought before the meeting by or at the
      direction of the board of directors or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(c)</font>&#160;otherwise properly brought before the meeting by a stockholder.&#160; For business to be properly brought
      before an annual meeting by a stockholder, the stockholder must, in addition to any requirements imposed by federal securities law or other applicable laws, have given timely notice thereof in writing to the secretary of the corporation.&#160; To be
      timely for an annual meeting, a stockholder&#8217;s notice must be delivered to or mailed and received at the principal executive offices of the corporation, no later than <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(i)</font> if the corporation mailed notice of the last annual meeting or publicly disclosed the date of such meeting and the annual meeting for the current year has not changed more than thirty days from such date (as if in the
      current year), forty-five days before the earlier of the date (as if in the current year) of such mailing or public disclosure or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(ii)</font> otherwise
      ninety days prior to the annual meeting.&#160; A stockholder&#8217;s notice to the secretary with regard to an annual meeting shall set forth as to each order of business that the stockholder proposes to bring before the meeting <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font> a brief description of such business desired to be brought before the meeting and the reasons for conducting such business at the annual meeting, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font> the name and address, as they appear on the corporation&#8217;s books, of the stockholder proposing such business, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(c)</font> the class and number of shares of the corporation that are beneficially owned by the stockholder and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(d)</font> any material interest of the stockholder in such business.&#160; The chairman of the meeting may refuse to bring before a meeting any business not properly brought before the meeting in compliance with this section.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Notice.</font>&#160;&#160;Notice of the
      time, place and means of remote communication of an annual meeting of stockholders and notice of the time, place, means of remote communication and purpose or purposes of a special meeting of the stockholders shall be given not less than 10, nor more
      than 60, days prior to the meeting to each stockholder of record of the corporation entitled to vote at such meeting.&#160; If mailed, such notice shall be deemed to be delivered when deposited in the United States mail, postage paid, addressed to the
      stockholder&#8217;s address appearing on the corporate books of the corporation.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Notice by Electronic
        Transmission.</font>&#160;&#160;Without limiting the manner by which notice otherwise may be given effectively to stockholders, any notice to stockholders given by the corporation under any applicable law, the certificate of incorporation or these bylaws
      shall be effective if given by a form of electronic transmission consented to by the stockholder to whom the notice is given.&#160; Any such consent shall be revocable by the stockholder by written notice to the corporation.&#160; Notice by electronic
      transmission shall be deemed given:&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font>&#160;if by facsimile telecommunication, when directed to a number at which the stockholder has consented to
      receive notice; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)&#160;</font>if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive notice; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(c)</font>&#160;if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(i)</font>&#160;such posting and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(ii)</font>&#160;the giving of such
      separate notice; and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(d)&#160;</font>if by any other form of electronic transmission, when directed to the stockholder.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.5.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">List of Stockholders.</font>&#160;&#160;The
      officer or agent having charge of the stock transfer books of the corporation shall make, at least 10 days before every meeting of the stockholders, a complete list of the stockholders entitled to vote at such meeting arranged in alphabetical order,
      specifying the address of and the number of shares registered in the name of each stockholder.&#160; Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting for a period of at least 10 days prior to the
      meeting on a reasonably accessible electronic network or, during ordinary business hours, at the principal place of business of the corporation.&#160; The list shall also be produced and kept at the time and place of the meeting during the whole time
      thereof and may be inspected by any stockholder who is present.&#160; If the meeting of stockholders is to be held solely by means of remote communication, then the list shall also be open to the examination of any stockholder during the whole time of the
      meeting on a reasonably accessible electronic network, and the information required to access such list shall be provided with the notice of the meeting.&#160; The original stock transfer books shall be the only evidence as to who are the stockholders
      entitled to examine such list or transfer book or to vote at any such meeting of stockholders.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.6.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Quorum.</font>&#160;&#160;The holders of a
      majority of the votes entitled to be cast at any meeting of stockholders, counted as a single class if there be more than one class of stock entitled to vote at such meeting, present in person or represented by proxy, shall constitute a quorum at all
      meetings of the stockholders except as otherwise provided by statute or by the certificate of incorporation.&#160; Once a quorum is present at a meeting of the stockholders, the stockholders represented in person or by proxy at the meeting may conduct
      such business as may be properly brought before the meeting until it is adjourned, and the subsequent withdrawal from the meeting by any stockholder or the refusal of any stockholder represented in person or by proxy to vote shall not affect the
      presence of a quorum at the meeting.&#160; If a quorum is not present, the chairman of the meeting or the holders of the shares present in person or represented by proxy at the meeting, and entitled to vote thereat, shall have the power, by the
      affirmative vote of the holders of a majority of such shares, to adjourn the meeting to another time and/or place.&#160; Unless the adjournment is for more than thirty days or unless a new record date is set for the adjourned meeting, no notice of the
      adjourned meeting need be given to any stockholder provided that the time and place of the adjourned meeting were announced at the meeting at which the adjournment was taken.&#160; At the adjourned meeting the corporation may transact any business that
      might have been transacted at the original meeting.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.7.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Proxies.</font>&#160;&#160;Each stockholder
      entitled to vote at a meeting of stockholders 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.&#160; A telegram, telex, cablegram or reliable electronic
      transmission executed or duly authorized by the stockholder, or a photographic, photostatic, facsimile or reliable reproduction of a writing executed or duly authorized by the stockholder shall be treated as an execution in writing for purposes of
      this section.&#160; No proxy shall be valid after three years from the date of its execution unless otherwise provided in the proxy.&#160; Each proxy shall be revocable unless the proxy form conspicuously states that the proxy is irrevocable and the proxy is
      coupled with an interest.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.8.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Order&#160;of&#160;Business.</font>&#160;&#160;The
      order of business at each such stockholders meeting shall be as determined by the chairman of the meeting. One of the following persons, in the order in which they are listed (and in the absence of the first, the next, and so on), shall serve as
      chairman of the meeting:&#160; the chairman of the board, vice chairman of the board, president, the chief executive officer, vice presidents (in the order of their seniority if more than one) and secretary. The chairman of the meeting shall have the
      right and authority to prescribe such rules, regulations and procedures and to do all such acts and things as are necessary or desirable for the proper conduct of the meeting, including, without limitation, the establishment of procedures for the
      maintenance of order and safety, limitations on the time allotted to questions or comments on the affairs of the corporation, restrictions on entry to such meeting after the time prescribed for the commencement thereof, and the opening and closing of
      the voting polls.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.9.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Appointment of Inspectors of
        Election.</font>&#160;&#160;The board of directors shall appoint one or more inspectors of election (&#8220;inspectors&#8221;) to act at such meeting or any adjournment or postponement thereof and make a written report thereof.&#160; The board of directors may designate one
      or more persons as alternate inspectors to replace any inspector who fails to act.&#160; If no inspector or alternate is so appointed or if no inspector or alternate is able to act, the chairman of the board, the vice chairman of the board, the president
      or the chief executive officer shall appoint one or more inspectors to act at such meeting.&#160; Each inspector, before entering upon the discharge of his or her duties, shall take and sign an oath faithfully to execute the duties of inspector with
      strict impartiality and according to the best of his or her ability.&#160; The inspectors may be directors, officers or employees of the corporation.</div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.10.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Confidential Voting.</font>&#160;&#160;All
      proxies, ballots and vote tabulations that identify the particular vote of a stockholder shall be kept confidential, except that disclosure may be made <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font>
      to allow the inspectors to certify the results of the vote; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font> as necessary to meet applicable legal requirements, including the pursuit or
      defense of judicial actions; or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(c)</font> when expressly requested by such stockholder.&#160; Nothing in this section shall prohibit the inspector from
      making available to the corporation, during the period prior to any annual or special meeting, information as to which stockholders have not voted and periodic status reports on the aggregate vote.</div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.11.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Action Without a Meeting.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Any action to be taken at a meeting of the stockholders, may be taken without a meeting, without prior notice, and without a vote, if a consent or
        consents in writing, setting forth the action so taken, shall be signed by the holder or holders of shares having not less than the minimum number of votes that would be necessary to take such action at a meeting at which the holders of all shares
        entitled to vote on the action were present and voted.</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Every written consent of the stockholders shall bear the date of signature of each stockholder who signs the consent.&#160; No written consent shall be
        effective to take the action that is the subject of the consent unless, within 60 days after the date of the earliest dated consent delivered to the corporation as provided below, a consent or consents signed by the holder or holders of shares
        having not less than the minimum number of votes that would be necessary to take the action that is the subject of the consent are delivered to the corporation by delivery to its registered office, its principal place of business, or an officer or
        agent of the corporation having custody of the books in which proceedings of meetings of the stockholders are recorded.&#160; Such delivery shall be made by hand or by certified or registered mail, return receipt requested, and in the case of delivery
        to the corporation&#8217;s principal place of business, shall be addressed to the president or chief executive officer of the corporation.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Without limitation, a telegram, cablegram or electronic transmission by a stockholder, or a photographic, photostatic, facsimile or other reliable
        reproduction of a writing signed or transmitted by a stockholder, shall be regarded as signed by the stockholder for the purposes of this section.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(d)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Prompt notice of the taking of any action by stockholders without a meeting by less than unanimous written consent shall be given to those
        stockholders who did not consent in writing to the action and who, if the action had been taken at a meeting, would have been entitled to notice of the meeting if the record date for such meeting had been the date that written consents signed by a
        sufficient number of holders to take the action were delivered to the corporation.</font></div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.12.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Fixing A Record Date</font>.&#160; In
      order that the corporation may determine the stockholders entitled to notice of or to vote at any meeting of stockholders 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 stock or for the purpose of any other lawful action, the board of directors may
      fix, in advance, a record date, which shall not be more than 60 nor less than 10 days before the date of such meeting.&#160; With respect to corporate action in writing without a meeting, such record date shall not precede the date upon which the
      resolution fixing the record date is adopted by the board of directors nor more than 10 days after the date upon which the resolution fixing the record date is adopted by the board of directors.&#160; With respect to any other action, such record date
      shall not precede the date upon which the resolution fixing the record date is adopted nor more than 60 days prior to such action.</div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">If the board of directors does not so fix a record date:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the
        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.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The record date for determining stockholders entitled to express consent to corporate action in writing without a meeting, when no prior action by the
        board of directors is required under the laws of the state of Delaware, shall be the first date on which a signed written consent is delivered to the corporation in accordance with the requirements of such law.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(c)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The record date for determining stockholders for any other purpose shall be at the close of business on the day on which the board of directors adopts
        the resolution relating thereto.</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment
      of the meeting; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">provided, however</font>, that the board of directors may fix a new record date for the adjourned meeting.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.13.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Remote Communications</font>.&#160;&#160;If
      authorized by the board of directors in its sole discretion, and subject to such guidelines and procedures as the board of directors may adopt, stockholders and proxyholders not physically present at a meeting of stockholders may, by means of remote
      communication, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font>&#160;participate in a meeting of stockholders, and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)&#160;</font>be deemed present in person and vote at a meeting of stockholders whether such meeting is to be held at a designated place or solely by means of remote communication, provided that <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(i)</font>&#160;the corporation shall implement reasonable measures to verify that each person deemed present and permitted to vote at the meeting by means of remote communication is a
      stockholder or proxyholder, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(ii)&#160;</font>the corporation shall implement reasonable measures to provide such stockholders and proxyholders a reasonable
      opportunity to participate in the meeting and to vote on matters submitted to the stockholders, including an opportunity to read or hear the proceedings of the meeting substantially concurrently with such proceedings, and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(iii)</font>&#160;if any stockholder or proxyholder votes or takes other action at the meeting by means of remote communication, a record of such vote or other action shall be
      maintained by the corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>2.14.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Minutes</font>.&#160;&#160;The stockholders
      shall cause regular minutes of their proceedings to be kept, and such minutes shall be placed in the minute proceedings of the corporation (which may be maintained in paper or electronic form).</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEIII."><!--Anchor--></a>ARTICLE&#160;</font>III.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">DIRECTORS</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Number, Qualifications and Term
        of Office.</font>&#160;&#160;The business and affairs of the corporation shall be managed by a board of directors. Subject to the preferential voting rights of the holders of preferred stock or any other class of capital stock of the corporation or any
      series of any of the foregoing that is then outstanding, the board of directors shall consist of one or more members.&#160; The number of members of the board of directors shall be fixed from time to time <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font>&#160;by the board of directors pursuant to a resolution adopted by a majority of the entire board of directors or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font>&#160;by the stockholders pursuant to a resolution adopted by a majority of the holders of shares of the corporation entitled to vote for the election of directors; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">provided, however</font>, that if the stockholders have acted to fix the number of directors, any action by the board of directors to fix another number shall only become effective on or after the first
      annual meeting of stockholders that follows such stockholder action.&#160; Each director shall be elected at the annual meeting of the stockholders, except as provided in <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;3.4</font>, and each director elected shall hold office until the next annual meeting of stockholders and until his or her successor is duly elected and qualified or until his or her earlier death, resignation or
      removal.&#160; No reduction of the authorized number of directors shall have the effect of removing any director before that director&#8217;s term expires.</div>
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    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Nomination of Director
        Candidates.</font>&#160;&#160;Subject to the preferential voting rights of the holders of preferred stock or any other class of capital stock of the corporation or any series of any of the foregoing that is then outstanding, nominations for the election of
      directors may be made by the board of directors or by any stockholder entitled to vote for the election of directors.&#160; Any stockholder entitled to vote for the election of a director at a meeting may nominate persons for whom such stockholder may
      vote only if written notice of such stockholder&#8217;s intent to make such nomination is given, either by personal delivery or by United States mail, postage prepaid, to the secretary of the corporation not later than <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font> with respect to an election to be held at an annual meeting of stockholders, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(i)</font> if the corporation mailed notice of the last annual meeting or publicly disclosed the date of such meeting and the annual meeting for the current year has not changed more than thirty days from such date (as if in the current
      year), forty-five days before the earlier of the date (as if in the current year) of such mailing or public disclosure or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(ii)</font> otherwise ninety
      days prior to the annual meeting and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font> with respect to an election to be held at a special meeting of stockholders for the election of
      directors, the close of business on the tenth day following the date on which notice of such meeting is first given to stockholders.&#160; Each such notice shall set forth:&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(a)</font> the name and address of the stockholder who intends to make the nomination and of the person or persons intended to be nominated; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(b)</font> a representation that the stockholder is a holder of record of stock of the corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to nominate the person or persons
      specified in the notice; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(c)</font> a description of all arrangements or understandings between the stockholder and each nominee and any other person or
      persons (naming such person or persons) pursuant to which the nomination or nominations are to be made by the stockholder; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(d)</font> such other
      information regarding each nominee proposed by such stockholder as would have been required to be included in a proxy statement filed pursuant to the proxy rules of the Securities and Exchange Commission had such requirements been applicable and each
      nominee been nominated, or intended to be nominated, by the board of directors; and <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(e)</font> the consent of each nominee to serve as a director of the
      corporation if so elected.&#160; The chairman of the meeting may refuse to acknowledge the nomination of any person not made in compliance with this section.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Removals.</font>&#160;&#160;Subject to the
      preferential voting rights of the holders of preferred stock or any other class of capital stock of the corporation or any series of any of the foregoing that is then outstanding at any meeting of stockholders called expressly for the purpose of
      removing a director or directors, each director may be removed from office at any time by the stockholders, with or without cause, by the affirmative vote of the holders of at least a majority of the voting power of all of the shares of the
      corporation entitled to vote for the election of such director.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Vacancies.</font>&#160;&#160;Subject to the
      preferential voting rights of the holders of preferred stock or any other class of capital stock of the corporation or any series of any of the foregoing that is then outstanding and except as otherwise required by law, all vacancies in the board of
      directors, whether caused by resignation, death or otherwise, may be filled by a majority of the remaining directors though less than a quorum; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">provided,


        however</font>, that any vacancy resulting from an increase in the number of directors that is the result of a resolution adopted by the stockholders of the corporation may be filled by the stockholders of the corporation in accordance with the
      laws of the state of Delaware, any other applicable provisions of the certificate of incorporation and these bylaws.&#160; Each director so chosen shall hold office for the unexpired term of his or her predecessor and until his or her successor is elected
      and qualified or until his or her earlier death, resignation or removal.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.5.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Annual Meeting.</font>&#160;&#160;The
      annual meeting of the board of directors may be held without notice immediately after the annual meeting of stockholders at the location of the stockholders&#8217; meeting.&#160; If not held immediately after the annual meeting of the stockholders, the annual
      meeting of the board of directors shall be held as soon thereafter as may be convenient.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.6.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Other Meetings and Notice.</font>&#160;&#160;Regular


      meetings of the board of directors may be held with or without notice at such time and at such place as shall from time to time be determined by the board of directors.&#160; Special meetings of the board of directors may be called by or at the request of
      the chairman of the board, the vice chairman of the board, the president or the or chief executive officer and shall be called by the chairman of the board on the written request of a majority of directors, in each case on at least twenty-four hours
      notice to each director.</div>
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    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.7.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Quorum.</font>&#160;&#160;A majority of the
      total number of directors shall be necessary at all meetings to constitute a quorum for the transaction of business.&#160; If a quorum shall not be present at any meeting of the board of directors, the directors present thereat may adjourn the meeting
      from time to time, without notice other than announcement at the meeting, until a quorum shall be present.&#160; At such adjourned meeting at which a quorum shall be present, any business may be transacted that might have been transacted at the meeting as
      originally notified and called.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.8.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Committees.</font>&#160;&#160;Standing or
      temporary committees consisting of one or more directors of the corporation may be appointed by the board of directors from time to time, and the board of directors may from time to time invest such committees with such powers as it may see fit,
      subject to limitations imposed by statute and such conditions as may be prescribed by the board of directors.&#160; An executive committee may be appointed by resolution passed by a majority of the entire board of directors and if appointed it shall have
      all the powers provided by statute, except as specially limited by the board of directors.&#160; All committees so appointed shall keep regular minutes of the transactions of their meetings and shall cause them to be recorded in books kept for that
      purpose in the office of the corporation, and shall report the same to the board of directors at its next meeting.&#160; The board of directors may designate one or more directors as alternate members of any committee, who may replace any absent or
      disqualified member at any meeting of the committee.&#160; The board shall have the power at any time to change the membership of, to increase or decrease the membership of, to fill all vacancies in and to discharge any committee of the board, or any
      member thereof, either with or without cause.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.9.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Committee Rules.</font>&#160;&#160;Each
      committee of the board of directors may fix its own rules of procedure and shall hold its meetings as provided by such rules, except as may otherwise be provided by the resolution of the board of directors designating such committee, but in all cases
      the presence of at least a majority of the members of such committee shall be necessary to constitute a quorum.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.10.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Telephonic Meetings.</font>&#160;&#160;Members


      of the board of directors or any committee designated by the board of directors may participate in any meeting of the board of directors or such committee by means of a conference telephone or other communications equipment by means of which all
      persons participating in the meeting can hear each other.&#160; Participation in such a meeting shall constitute presence in person at such meeting.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.11.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Presumption of Assent.</font>&#160;&#160;A
      director of the corporation who is present at a meeting of the board of directors or any committee thereof at which action on any corporate matter is taken shall be deemed to have assented to the action taken unless his or her dissent shall be
      entered in the minutes of the meeting or unless he or she shall file his or her written dissent to such action with the person acting as the secretary of the meeting before the adjournment thereof or shall forward such dissent by registered mail to
      the secretary of the corporation immediately after the adjournment of the meeting.&#160; Such right to dissent shall not apply to a director who voted in favor of such action.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.12.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Action Without a Meeting.</font>&#160;&#160;Any


      action required or permitted to be taken at any meeting of the board of directors or of any committee thereof may be taken without a meeting if all members of the board of directors or such committee, as the case may be, consent thereto in writing or
      electronic transmission and the writing or writings or electronic transmission or transmissions are filed with the minutes of proceedings of the board of directors or committee.&#160; Action taken pursuant to such written consent of the board of directors
      or of any committee thereof shall have the same force and effect as if taken by the board of directors or the committee, as the case may be, at a meeting thereof.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.13.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Compensation.</font>&#160;&#160;The board
      of directors shall have the authority to fix the compensation of directors.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>3.14.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Minutes</font>.&#160;&#160;The board of
      directors shall cause to be kept regular minutes of its proceedings, and such minutes shall be placed in the minute proceedings of the corporation (which may be maintained in paper or electronic form).</div>
    <div><br>
    </div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEIV."><!--Anchor--></a>ARTICLE&#160;</font>IV.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">OFFICERS</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Number</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The officers of the corporation shall be a chairman of the board, a vice chairman of the board, a president, one or more vice presidents, a
      secretary, a treasurer, and such other officers and assistant officers as the board of directors may, by resolution, appoint.&#160; Any two or more offices may be held by the same person.&#160; In its discretion, the board of directors may choose not to fill
      any office for any period as it may deem advisable, except the offices of president and secretary.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Election and Term of Office</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The officers of the corporation shall be elected annually by the board of directors at the annual meeting of the board of directors.&#160; If the election
      of officers shall not be held at such meeting, such election shall be held as soon thereafter as may be convenient.&#160; Each officer shall hold office until the next annual meeting of the board of directors and until his or her successor is duly elected
      and qualified or until his or her earlier death, resignation or removal as hereinafter provided.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Chairman of the Board</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The chairman of the board shall preside at all meetings of the stockholders and directors.&#160; He or she shall have general and active management of the
      business of the corporation, shall see that all orders and resolutions of the board of directors are carried into effect and, in connection therewith, shall be authorized to delegate to the vice chairman of the board, president and other officers
      such of his or her powers and duties as chairman of the board at such time and in such manner as he or she may deem to be advisable.&#160; The chairman of the board shall be an ex officio member of all standing committees and he or she shall have such
      other powers and duties as may from time to time be assigned by the board of directors.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Vice Chairman of the Board</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The vice chairman of the board shall assist the chairman of the board in the management of the business of the corporation, and, in the absence or
      disability of the chairman of the board, shall preside at all meetings of the stockholders and the board of directors and exercise the other powers and perform the other duties of the chairman of the board or designate the executive officers of the
      corporation by whom such other powers shall be exercised and other duties performed.&#160; The vice chairman of the board shall be an ex officio member of all standing committees and he or she shall have such other powers and duties as may from time to
      time be assigned by the board of directors or by the chairman of the board.&#160; In addition to the foregoing, the vice chairman of the board shall have such other powers, duties and authority as may be set forth elsewhere in these bylaws.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.5.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The President</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The president shall be the corporation&#8217;s chief operating officer unless otherwise determined by the board of directors.&#160; The president shall assist
      the chairman of the board in the management of the business of the corporation, and, in the absence or disability of the chairman of the board and the vice chairman of the board, shall preside at all meetings of the stockholders and the board of
      directors and exercise the other powers and perform the other duties of the chairman of the board or designate the executive officers of the corporation by whom such other powers shall be exercised and other duties performed.&#160; The president shall be
      an ex officio member of all standing committees and he or she shall have such other powers and duties as may from time to time be assigned by the board of directors or by the chairman of the board.&#160; In addition to the foregoing, the president shall
      have such other powers, duties, and authority as may be set forth elsewhere in these bylaws.&#160; If the board of directors does not elect a chairman or vice chairman of the board, the president shall also have the duties and responsibilities, and
      exercise all functions, of the chairman and the vice chairman of the board as provided in these bylaws.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.6.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Chief Executive Officer</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The board of directors may designate an individual, whether or not such individual is an officer of the corporation, to serve as the chief executive
      officer of the corporation.&#160; The chief executive officer shall have the duties and responsibilities, and exercise all functions, as the board of directors may determine.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.7.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Chief Financial Officer</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The board of directors may designate an individual, whether or not such individual is an officer of the corporation, to serve as the chief financial
      officer of the corporation.&#160; The chief financial officer shall have the duties and responsibilities, and exercise all functions, as the board of directors may determine.</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.8.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Vice Presidents</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>Each vice president shall have such powers and discharge such duties as may be assigned from time to time by the chairman of the board, the vice
      chairman of the board or the president.&#160; During the absence or disability of the president, first the chief executive officer and in the absence or disability of the chief executive officer, one such vice president, when designated by the board of
      directors, shall exercise all the functions of the president.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.9.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Secretary and Assistant
        Secretary</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The secretary or the chairman of the board shall issue notices for all meetings.&#160; The secretary shall keep minutes of all
      meetings of the board of directors, the committees thereof and the stockholders, shall have charge of the seal and the corporate books and shall make such reports and perform such other duties as are incident to the office, and perform such other
      duties designated or properly required by the chairman of the board, the vice chairman of the board, the president or the chief executive officer.&#160; The secretary shall keep, or cause to be kept, at the principal executive office of the corporation or
      at the office of the corporation&#8217;s transfer agent or registrar, a share register, or a duplicate share register, showing the names of all stockholders and their addresses, the number and classes of shares held by each, the number and date of
      certificates evidencing such shares, and the number and date of cancellation of every certificate surrendered for cancellation.&#160; The assistant secretary shall be vested with the same powers and duties as the secretary, and any act may be done or duty
      performed by the assistant secretary with like effect as though done or performed by the secretary.&#160; The assistant secretary shall have such other powers and perform such other duties as may be assigned by the chairman of the board, the vice chairman
      of the board, the president or the chief executive officer.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.10.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">The Treasurer and Assistant
        Treasurer</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The treasurer shall have the custody of all moneys and securities of the corporation and shall keep regular books of account.&#160;
      He or she shall disburse the funds of the corporation in payment of just demands against the corporation, or as may be ordered by the chairman of the board, the vice chairman of the board, the president, the chief executive officer or by the board of
      directors, taking proper vouchers for such disbursements, and shall render to the board of directors from time to time as may be required of him or her, an account of all transactions as treasurer and of the financial condition of the corporation.&#160;
      The treasurer shall perform all duties incident to the office, and perform such other duties designated or properly required by the chairman of the board, the vice chairman of the board, the president or the chief executive officer. The assistant
      treasurer shall be vested with the same powers and duties as the treasurer, and any act may be done, or duty performed by the assistant treasurer with like effect as though done or performed by the treasurer.&#160; The assistant treasurer shall have such
      other powers and perform such other duties as may be assigned by the chairman of the board, the vice chairman of the board, the president or the chief executive officer.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.11.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Vacancies</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>Vacancies in any office arising from any cause may be filled by the directors for the unexpired portion of the term with a majority vote of the
      directors then in office.&#160; In the case of the absence or inability to act of any officer of the corporation and of any person herein authorized to act in his or her place, the board of directors may from time to time delegate the powers or duties of
      such officer to any other officer or any director or other person whom it may select.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.12.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Other Officers, Assistant
        Officers and Agents</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>Officers, assistant officers, and agents, if any, other than those whose duties are provided for in these bylaws
      shall hold their offices for such terms and shall exercise such powers and perform such duties as the board of directors may determine.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>4.13.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Normal Duties and
        Responsibilities of Officers</font>.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>Unless otherwise provided in these bylaws or the board of directors decides otherwise, if an officer title
      is one commonly used for officers of a business corporation formed under the Delaware General Corporation Law or any successor or similar statute, the assignment of such title shall constitute the delegation to such officer of the authority and
      duties that are normally associated with that office, subject to any specific delegation of authority and duties made to such officer by the board of directors.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEV."><!--Anchor--></a>ARTICLE&#160;</font>V.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">INDEMNIFICATION AND INSURANCE OF DIRECTORS, OFFICERS AND OTHERS</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Indemnification.</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>To the fullest extent permitted by Delaware law, the corporation shall indemnify any and all officers and directors of the corporation from and
      against all expenses (including attorneys&#8217; fees), liabilities or other matters arising out of their status as such or their acts, omissions or services rendered by such persons in such capacities or otherwise while serving at the request of the
      corporation in any other capacity.&#160; Unless specifically addressed in a repeal or amendment of Delaware law with regard to a corporation&#8217;s ability to indemnify any such person, no such repeal or amendment shall adversely affect any indemnification
      rights of any such person existing at the time of such repeal or amendment.</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">- 8 -</font></div>
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    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Advancement of Expenses.</font>&#160;&#160;Expenses


      (including attorneys&#8217; fees) incurred by a director or officer who was, is or is threatened to be made a named defendant or respondent in a proceeding by reason of his or her status as a director or officer of the corporation or services rendered by
      such persons in such capacities or otherwise at the request of the corporation or incurred by a director or officer for prosecuting a claim under <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;5.3</font>
      shall be paid by the corporation in advance of the final disposition of such proceeding upon receipt of a written undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that he or she is not
      entitled to be indemnified by the corporation as authorized in this Article.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Expenses of Contested
        Indemnification Claims.</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>If a claimant makes a claim on the corporation under <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;5.1</font> or <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">5.2</font> and the corporation does not pay such claim in full within thirty days after
      it has received such written claim, the claimant may at any time thereafter bring suit against the corporation to recover the unpaid amount of the claim and, if successful in whole or in part, the claimant shall also be entitled to be paid also the
      expenses of prosecuting such claim.&#160; It shall be a defense to any such action that such indemnification of advancement of costs of defense are not permitted under the General Corporation Law of Delaware or other applicable law, but the burden of
      proving such defense shall be on the corporation.&#160; Neither the failure of the corporation (including its board of directors or any committee thereof, special legal counsel or stockholders) to have made its determination prior to the commencement of
      such action that indemnification of, or advancement of costs of defense to, the claimant is permissible in the circumstances nor an actual determination by the corporation (including its board of directors or any committee thereof, special legal
      counsel, or stockholders) that such indemnification or advancement is not permissible, shall be a defense to the action or create a presumption that such indemnification or advancement is not permissible.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Indemnification Not Exclusive.</font>&#160;&#160;The


      indemnification and advancement of expenses provided by, or granted pursuant to, this Article shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any other bylaw,
      agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her official capacity and as to action in another capacity while holding such office.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.5.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Survival of Indemnification and
        Advancement of Expenses.</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font>The indemnification and advancement of expenses provided by, or granted pursuant to, this Article shall continue
      as to a person who has ceased to be a director or officer and shall inure to the benefit of the heirs, executors and administrators of such person.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.6.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Employees, Agents and Others.</font>&#160;&#160;To


      the fullest extent of Delaware law, the corporation may grant rights of indemnification and advancement of expenses to any person who is not at the time a current director or officer of the corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.7.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Contract Right.</font>&#160;&#160;Each of
      the rights of indemnification and advancement of expenses provided by, or granted pursuant to, this Article shall be a contract right that will survive the termination of any person&#8217;s service as a director or officer and any repeal or amendment of
      the provisions of this Article shall not adversely affect any such right of any person existing at the time of such repeal or amendment with respect to any act or omission occurring prior to the time of such repeal or amendment, and further, shall
      not apply to any proceeding, irrespective of when the proceeding is initiated, arising from the service of such person prior to such repeal or amendment.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.8.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Insurance.&#160;&#160;</font>To the fullest
      extent of Delaware law, the corporation shall have power to purchase and maintain insurance on behalf of any person, including one who is or was a director, officer, employee or agent of the corporation or is or was serving at the request of the
      corporation as a director, officer, employee or agent of another enterprise against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the corporation
      would have the power to indemnify him or her against such liability under the provisions of this Article or Delaware law.</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>5.9.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Certain References Under Article
        V.&#160;&#160;</font>For purposes of this Article, references to &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">the corporation</font>,&#8221; &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">other enterprise</font>&#8221; and &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">serving at the request of the corporation</font>&#8221; shall have the meanings given such terms in
      Section 145 of the Delaware General Corporation Law or any successor or similar statute.&#160; As used herein, the term &#8220;<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">proceeding</font>&#8221; means any
      threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative, arbitrative or investigative, any appeal in such an action, suit or proceeding, and any inquiry or investigation that could lead to such an action,
      suit or proceeding.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEVI."><!--Anchor--></a>ARTICLE&#160;</font>VI.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">STOCK CERTIFICATES</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>6.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Form</font>.&#160;&#160;The shares of stock
      of the corporation shall be represented by certificates, or shall be uncertificated shares.&#160; Every holder of uncertificated shares of the corporation shall be entitled upon request to have a stock certificate issued to such holder signed by the
      chairman of the board, the president, the chief executive officer or any vice president and the secretary, any assistant secretary, the treasurer or any assistant treasurer, certifying to the number of shares owned by such stockholder.&#160; Where,
      however, such certificate is signed by a transfer agent or an assistant transfer agent or by a transfer clerk acting on behalf of the corporation, and a registrar or by an agent acting in the dual capacity of transfer agent and registrar, the
      signatures of any of the above-named officers may be facsimile signatures.&#160; In the event that any officer who has signed, or whose facsimile signature has been used on, a certificate ceases to be an officer before the certificate has been delivered,
      such certificate may nevertheless be adopted and issued and delivered by the corporation, as though the officer who signed such certificate or certificates, or whose facsimile signature or signatures shall have been used thereon, had not ceased to be
      such officer of the corporation.&#160; All certificates for shares shall be consecutively numbered or otherwise identified.&#160; The name of the person to whom either certificated or uncertificated shares are issued, with the number of shares and date of
      issue, shall be entered on the books of the corporation.&#160; Notwithstanding any other provision in these bylaws, the corporation may adopt a system of issuance, recordation and transfer of its shares by electronic or other means not involving any
      issuance of certificates, including provisions for notice to purchasers in substitution for any required statements or certificates, and as may be required by applicable law, which system has been approved by the U.S. Securities and Exchange
      Commission.&#160; Any system so adopted shall not become effective as to issued and outstanding certificated securities until the certificates therefor have been surrendered to the corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>6.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Transfers.&#160;&#160;</font>Transfers of
      stock shall be made only upon the transfer books of the corporation or respective transfer agents designated to transfer the several classes of stock and, in the case of shares represented by a certificate or certificates, upon the surrender of a
      properly endorsed certificate or certificates for a like number of shares.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>6.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Lost or Destroyed Certificates.</font>&#160;&#160;The


      corporation may issue a new stock certificate in place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the corporation shall, except as otherwise determined by the board of directors, the chairman of
      the board, the president, the chief executive officer any vice president or other authorized officer, require the owner of the lost, stolen or destroyed certificate, or his or her legal representative, to give the corporation a bond sufficient to
      indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>6.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Registered Stockholders.</font>&#160;&#160;The


      corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends, and to vote as such owner, and to hold liable for calls and assessments a person registered on its books
      as the owner of shares, and shall not be bound to recognize any equitable or other claim to or interest in such shares on the part of another person, whether or not the corporation shall have express or other notice thereof, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">except</font> as otherwise provided by the laws of the state of Delaware.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>6.5.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Restrictions on Transfers of
        Shares.</font>&#160;&#160;Notice of any restriction on the transfer of shares of the corporation&#8217;s stock shall be placed on each certificate of stock issued, or in the case of uncertificated shares, contained in the notice sent to the registered holder of
      such shares in accordance with the laws of the state of Delaware.</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEVII."><!--Anchor--></a>ARTICLE&#160;</font>VII.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">CERTAIN BUSINESS COMBINATIONS</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The provision of Section 203 of the Delaware General Corporation Law shall not apply to the corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">This Article VII shall be amended, altered or repealed only as provided in Section 203 of the Delaware General Corporation Law.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEVIII."><!--Anchor--></a>ARTICLE&#160;</font>VIII.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">GENERAL PROVISIONS</font></div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>8.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Dividends.&#160;&#160;</font>Dividends upon
      the capital stock of the corporation, subject to any applicable provisions of the certificate of incorporation, may be declared by the board of directors at any regular or special meeting, pursuant to law.&#160; Dividends may be paid in cash, in property
      or in shares of the capital stock, subject to the applicable provisions of the certificate of incorporation.&#160; Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the
      directors from time to time, in their absolute discretion, think proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the
      directors shall think in the best interest of the corporation, and the directors may modify or abolish any such reserve in the manner in which it was created.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>8.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Accounts.&#160;&#160;</font>The chairman of
      the board, vice chairman of the board, president, the chief executive officer or any vice president is authorized for and on behalf of the corporation:&#160; to establish, maintain and to close depositary accounts, in the corporation&#8217;s name, for the
      deposit and withdrawal of corporation funds; to designate those individuals authorized to withdraw funds or sign checks in said depositary accounts; and to execute customer agreements with respect to such depositary accounts, including forms of
      corporate resolutions, certified with respect to the approval of the board of directors as of the date such forms of corporate resolutions are executed. The secretary or assistant secretary is, authorized for and on behalf of the corporation without
      further action of the board of directors to certify as to the approval of the board of directors of forms of resolutions regarding any of such depositary or trading accounts as of the date the officer of the corporation executes the customer
      agreement with respect to each such account.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEIX."><!--Anchor--></a>ARTICLE&#160;</font>IX.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">NOTICES</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>9.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">General</font>.&#160;&#160;Written notice
      to stockholders of stockholder meetings shall be given as provided in <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section 2.3</font> herein.&#160; Without limiting the manner by which notice may
      otherwise be given effectively to stockholders under any agreement or contract with such stockholder, and except as otherwise required by law, written notice to stockholders for purposes other than stockholder meetings may be sent by U.S. mail or
      nationally recognized overnight courier, or by facsimile, telegraph or telex or by electronic mail or other electronic means.&#160; Whenever the provisions of any statute or these bylaws require notice to be given to any director, such notice may be given
      by the method stated in the previous sentence, except that such notice other than one that is delivered personally shall be sent to such address as such director shall have filed in writing with the secretary, or, in the absence of such filing, to
      the last known post office address of such director.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>9.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Waivers</font>.&#160;&#160;Whenever any
      notice whatever is required to be given under provisions of law or of the certificate of incorporation or of these bylaws, a waiver thereof in writing signed by the person or persons entitled to said notice or a waiver by electronic transmission,
      whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>9.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Attendance as Waiver</font>.&#160;&#160;Attendance


      of a person at a meeting shall constitute a waiver of notice of such meeting, except where a person attends a meeting for the express purpose of objecting at the beginning of the meeting to the transaction of any business because the meeting is not
      lawfully called or convened.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>9.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Omission of Notice to
        Stockholders</font>.&#160;&#160;Any notice required to be given to any stockholder under any statutory provision, the certificate of incorporation or these bylaws need not be given to the stockholder if:</div>
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    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(a)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">notice of two consecutive annual meetings and all notices of meetings held or the takings of action by written consent without a meeting to such
        stockholder taken during the period between those annual meetings, or</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(b)</font><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">all, and at least two, payments (if sent by first class mail) of distributions or interest on securities during a twelve-month period,</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">have been mailed to that person, addressed at his or her address as shown on the share transfer records of the corporation, and have been returned
      undeliverable.&#160; Any action or meeting taken or held without notice to such a person shall have the same force and effect as if the notice had been duly given.&#160; If such a person delivers to the corporation a written notice setting forth his or her
      then current address, the requirement that notice be given to that person shall be reinstated.</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="ARTICLEX."><!--Anchor--></a>ARTICLE&#160;</font>X.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><br>
      </font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">FORUM SELECTION</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>10.1.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Delaware Forum</font>.&#160;&#160;Unless
      the corporation consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if such court does not have subject matter jurisdiction, the federal district court of the State of Delaware) shall, to
      the fullest extent permitted by law, be the sole and exclusive forum for: (i) any derivative action or proceeding brought on behalf of the corporation, (ii) any action asserting a claim for or based on a breach of a fiduciary duty owed by any current
      or former director, officer, other employee, agent or stockholder of the corporation to the corporation or the corporation&#8217;s stockholders, including without limitation a claim alleging the aiding and abetting of such a breach of fiduciary duty, (iii)
      any action asserting a claim against the corporation or any current or former director, officer, employee, agent or stockholder of the corporation arising pursuant to any provision of the Delaware General Corporation Law (&#8220;DGCL&#8221;) or the certificate
      of incorporation or bylaws or as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware, or (iv) any action asserting a claim related to or involving the corporation that is governed by the internal affairs doctrine.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>10.2.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Securities Act Claims</font>.&#160;&#160;Unless


      the corporation consents in writing to the selection of an alternative forum, the federal district courts of the United States of America shall, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any
      complaint asserting a cause of action arising under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>10.3.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Notice and Consent</font>.&#160;&#160;Any
      person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of the corporation shall be deemed to have notice of and consented to the provisions of this Article X.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Section&#160;</font>10.4.<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">&#160;&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Injunctive Relief</font>.&#160;&#160;Failure


      to enforce the foregoing provisions would cause the corporation irreparable harm, and the corporation shall be entitled to equitable relief, including injunctive relief and specific performance, to enforce the foregoing provisions.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 234pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">ADOPTED BY THE BOARD OF DIRECTORS AS OF MARCH 4, 2021</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 234pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">/s/ Jane Grimm</div>
    <div style="text-align: justify; margin-left: 234pt;"><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 234pt">&#160;</font><br>
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    <div style="text-align: justify; margin-left: 234pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic;">Jane R. Grimm, Secretary</div>
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  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">- 12 -</font></div>
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<DESCRIPTION>VALHI DECLARES QUARTERLY DIVIDEND, DATED MARCH 4, 2021
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    <div style="text-align: center; margin-bottom: 6pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt; font-weight: bold;"><a name="VALHIDECLARESQUARTERLYDIV"><!--Anchor--></a>VALHI DECLARES QUARTERLY DIVIDEND</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">DALLAS, TEXAS . . . March 4, 2021 . . . Valhi, Inc. (NYSE:&#160; VHI) announced today that its board of directors has declared a regular
      quarterly dividend of eight cents ($0.08) per share on its common stock, payable on March 30, 2021 to stockholders of record at the close of business on March 15, 2021.</div>
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    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Valhi, Inc. is engaged in the titanium dioxide products, component products (security products and recreational marine components) and
      real estate management and development industries.</div>
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    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">* * * * *</div>
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  <xs:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
  <xs:import namespace="http://xbrl.sec.gov/stpr/2018-01-31" schemaLocation="https://xbrl.sec.gov/stpr/2018/stpr-2018-01-31.xsd" />
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</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>5
<FILENAME>vhi-20210304_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 7.0.0.0 Broadridge-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" />
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    <link:label xlink:type="resource" xlink:label="dei_CoverAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CoverAbstract_lbl" xml:lang="en-US" id="dei_CoverAbstract_lbl">Cover [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:title="label: CoverAbstract to dei_CoverAbstract_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="EntityAddressAddressLine1" xlink:title="EntityAddressAddressLine1" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine1_lbl">Entity Address, Address Line One</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:title="label: EntityAddressAddressLine1 to dei_EntityAddressAddressLine1_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="EntityAddressAddressLine2" xlink:title="EntityAddressAddressLine2" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine2_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine2_lbl">Entity Address, Address Line Two</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:title="label: EntityAddressAddressLine2 to dei_EntityAddressAddressLine2_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="EntityAddressAddressLine3" xlink:title="EntityAddressAddressLine3" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine3_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine3_lbl">Entity Address, Address Line Three</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:title="label: EntityAddressAddressLine3 to dei_EntityAddressAddressLine3_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_AmendmentFlag" xlink:label="AmendmentFlag" xlink:title="AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_AmendmentFlag_lbl" xml:lang="en-US" id="dei_AmendmentFlag_lbl">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:title="label: AmendmentFlag to dei_AmendmentFlag_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CityAreaCode" xlink:label="CityAreaCode" xlink:title="CityAreaCode" />
    <link:label xlink:type="resource" xlink:label="dei_CityAreaCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CityAreaCode_lbl" xml:lang="en-US" id="dei_CityAreaCode_lbl">City Area Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:title="label: CityAreaCode to dei_CityAreaCode_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCityOrTown_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US" id="dei_EntityAddressCityOrTown_lbl">Entity Address, City or Town</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:title="label: EntityAddressCityOrTown to dei_EntityAddressCityOrTown_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressCountry" xlink:label="EntityAddressCountry" xlink:title="EntityAddressCountry" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressCountry_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressCountry_lbl" xml:lang="en-US" id="dei_EntityAddressCountry_lbl">Entity Address, Country</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:title="label: EntityAddressCountry to dei_EntityAddressCountry_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="CurrentFiscalYearEndDate" xlink:title="CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US" id="dei_CurrentFiscalYearEndDate_lbl">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:title="label: CurrentFiscalYearEndDate to dei_CurrentFiscalYearEndDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="DocumentPeriodEndDate" xlink:title="DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US" id="dei_DocumentPeriodEndDate_lbl">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:title="label: DocumentPeriodEndDate to dei_DocumentPeriodEndDate_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="EntityIncorporationStateCountryCode" xlink:title="EntityIncorporationStateCountryCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US" id="dei_EntityIncorporationStateCountryCode_lbl">Entity Incorporation, State or Country Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:title="label: EntityIncorporationStateCountryCode to dei_EntityIncorporationStateCountryCode_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_LocalPhoneNumber" xlink:label="LocalPhoneNumber" xlink:title="LocalPhoneNumber" />
    <link:label xlink:type="resource" xlink:label="dei_LocalPhoneNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_LocalPhoneNumber_lbl" xml:lang="en-US" id="dei_LocalPhoneNumber_lbl">Local Phone Number</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:title="label: LocalPhoneNumber to dei_LocalPhoneNumber_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressPostalZipCode_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US" id="dei_EntityAddressPostalZipCode_lbl">Entity Address, Postal Zip Code</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:title="label: EntityAddressPostalZipCode to dei_EntityAddressPostalZipCode_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="EntityAddressStateOrProvince" xlink:title="EntityAddressStateOrProvince" />
    <link:label xlink:type="resource" xlink:label="dei_EntityAddressStateOrProvince_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US" id="dei_EntityAddressStateOrProvince_lbl">Entity Address, State or Province</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:title="label: EntityAddressStateOrProvince to dei_EntityAddressStateOrProvince_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:label xlink:type="resource" xlink:label="dei_Security12bTitle_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_Security12bTitle_lbl" xml:lang="en-US" id="dei_Security12bTitle_lbl">Title of 12(b) Security</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:title="label: Security12bTitle to dei_Security12bTitle_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="NoTradingSymbolFlag" xlink:title="NoTradingSymbolFlag" />
    <link:label xlink:type="resource" xlink:label="dei_NoTradingSymbolFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US" id="dei_NoTradingSymbolFlag_lbl">No Trading Symbol Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:title="label: NoTradingSymbolFlag to dei_NoTradingSymbolFlag_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
    <link:label xlink:type="resource" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_TradingSymbol_lbl" xml:lang="en-US" id="dei_TradingSymbol_lbl">Trading Symbol</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:title="label: TradingSymbol to dei_TradingSymbol_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
    <link:label xlink:type="resource" xlink:label="dei_SecurityExchangeName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_SecurityExchangeName_lbl" xml:lang="en-US" id="dei_SecurityExchangeName_lbl">Security Exchange Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:title="label: SecurityExchangeName to dei_SecurityExchangeName_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityRegistrantName" xlink:label="EntityRegistrantName" xlink:title="EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityRegistrantName_lbl" xml:lang="en-US" id="dei_EntityRegistrantName_lbl">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:title="label: EntityRegistrantName to dei_EntityRegistrantName_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:label xlink:type="resource" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityCentralIndexKey_lbl" xml:lang="en-US" id="dei_EntityCentralIndexKey_lbl">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:title="label: EntityCentralIndexKey to dei_EntityCentralIndexKey_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="EntityTaxIdentificationNumber" xlink:title="EntityTaxIdentificationNumber" />
    <link:label xlink:type="resource" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US" id="dei_EntityTaxIdentificationNumber_lbl">Entity Tax Identification Number</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalYearFocus_lbl">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:title="label: DocumentFiscalYearFocus to dei_DocumentFiscalYearFocus_lbl" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US" id="dei_DocumentFiscalPeriodFocus_lbl">Document Fiscal Period Focus</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>6
<FILENAME>vhi-20210304_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
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<TYPE>XML
<SEQUENCE>8
<FILENAME>vhi8k210304_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2019-01-31"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="vhi-20210304.xsd" xlink:type="simple"/>
    <context id="c20210304to20210304">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000059255</identifier>
        </entity>
        <period>
            <startDate>2021-03-04</startDate>
            <endDate>2021-03-04</endDate>
        </period>
    </context>
    <dei:AmendmentFlag
      contextRef="c20210304to20210304"
      id="Fact_614a4b860f0b4489a572a1d29d429f23">false</dei:AmendmentFlag>
    <dei:CurrentFiscalYearEndDate
      contextRef="c20210304to20210304"
      id="Fact_cb43e16295d74862ae7e1b28072fbca1">--12-31</dei:CurrentFiscalYearEndDate>
    <dei:EntityCentralIndexKey
      contextRef="c20210304to20210304"
      id="Fact_9a86a7acf92b4626b39a20294f7080ae">0000059255</dei:EntityCentralIndexKey>
    <dei:DocumentType
      contextRef="c20210304to20210304"
      id="Fact_547849505093452ab61afa5def4f26d0">8-K</dei:DocumentType>
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      contextRef="c20210304to20210304"
      id="Fact_ed11dc1b29b74e2f8a01d1f0a503223c">2021-03-04</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName
      contextRef="c20210304to20210304"
      id="Fact_901cdf8c7d7f4bc790d1d19e4fab02b1">Valhi, Inc.</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode
      contextRef="c20210304to20210304"
      id="Fact_8df248d8fe2045b9ac2c60b424df45b7">DE</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber
      contextRef="c20210304to20210304"
      id="Fact_598c2861ca104299a618dfc03bcebb11">1-5467</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber
      contextRef="c20210304to20210304"
      id="Fact_b3a59a0dab784018b7a601febd9315bf">87-0110150</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1
      contextRef="c20210304to20210304"
      id="Fact_1093ba8b782c46d0b2084bed38945d30">5430 LBJ Freeway</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2
      contextRef="c20210304to20210304"
      id="Fact_7a723641118f4542a36a51bdb222a86f">Suite 1700</dei:EntityAddressAddressLine2>
    <dei:EntityAddressCityOrTown
      contextRef="c20210304to20210304"
      id="Fact_11bcc9dcb1c04e188f34d98eff695b97">Dallas</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince
      contextRef="c20210304to20210304"
      id="Fact_cbf45afffee64826b92f4886a9f6c12d">TX</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode
      contextRef="c20210304to20210304"
      id="Fact_e44269ac18e040469d4ec4124b7ec2c0">75240-2620</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode
      contextRef="c20210304to20210304"
      id="Fact_a0a0c18ed5834892aabb8f55ba5af84b">972</dei:CityAreaCode>
    <dei:LocalPhoneNumber
      contextRef="c20210304to20210304"
      id="Fact_2f8ae33f523249afb725d0418a252edf">233-1700</dei:LocalPhoneNumber>
    <dei:WrittenCommunications
      contextRef="c20210304to20210304"
      id="Fact_37a8145e36fd469c8ce6fd03f05af472">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial
      contextRef="c20210304to20210304"
      id="Fact_d8e52196ce14401ca2a8a8b0239873d4">false</dei:SolicitingMaterial>
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      contextRef="c20210304to20210304"
      id="Fact_e361868f433445369421c312efe34c4d">false</dei:PreCommencementTenderOffer>
    <dei:Security12bTitle
      contextRef="c20210304to20210304"
      id="Fact_49d9bfca6e974728881893c3976a93c3">Common Stock</dei:Security12bTitle>
    <dei:TradingSymbol
      contextRef="c20210304to20210304"
      id="Fact_f674b09738b94822bbea8f6d0afecd0a">VHI</dei:TradingSymbol>
    <dei:SecurityExchangeName
      contextRef="c20210304to20210304"
      id="Fact_6958709dac8c45e9a9682e556d478409">NYSE</dei:SecurityExchangeName>
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      id="Fact_d4dc33e57fb44b6f9cd4e6d977a3d1f4">false</dei:EntityEmergingGrowthCompany>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.20.4</span><table class="report" border="0" cellspacing="2" id="idm140092835849480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Mar. 04, 2021</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_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<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_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar.  04,  2021<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_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<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_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Valhi, Inc.<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_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">DE<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_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-5467<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_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">87-0110150<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_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">5430 LBJ Freeway<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_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 1700<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_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Dallas<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_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">TX<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_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">75240-2620<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_CityAreaCode', window );">City Area Code</a></td>
<td class="text">972<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_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">233-1700<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_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000059255<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">Common Stock<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">VHI<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>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>Cover page.</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_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</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_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>
<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>
</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_EntityAddressStateOrProvince">
<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 state or province.</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_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
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<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><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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<td>na</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>
<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>
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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> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<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>
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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> Balance Type:</strong></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 );">- 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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<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>
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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 );">- 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">
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
