<SEC-DOCUMENT>0000891092-13-000599.txt : 20130125
<SEC-HEADER>0000891092-13-000599.hdr.sgml : 20130125
<ACCEPTANCE-DATETIME>20130125171803
ACCESSION NUMBER:		0000891092-13-000599
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130125
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130125
DATE AS OF CHANGE:		20130125

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALICO INC
		CENTRAL INDEX KEY:			0000003545
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - CROPS [0100]
		IRS NUMBER:				590906081
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-00261
		FILM NUMBER:		13549496

	BUSINESS ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913
		BUSINESS PHONE:		239-226-2000

	MAIL ADDRESS:	
		STREET 1:		10070 DANIELS INTERSTATE COURT STE. 100
		CITY:			FT. MYERS,
		STATE:			FL
		ZIP:			33913

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALICO LAND DEVELOPMENT CO
		DATE OF NAME CHANGE:	19740219
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e51681_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 3.3pt 0 0; text-align: center"><B>UNITED STATES</B></P>

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

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

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)
of the</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>Date of Report (Date of Earliest
Event Reported): January 25, 2013</B></P>

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

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<P STYLE="font: 17pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>ALICO, INC.</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact Name of Registrant as Specified in
Charter)</B></P>

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 31%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><FONT STYLE="color: black"><B>Florida</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><FONT STYLE="color: black"><B>0-261</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center"><FONT STYLE="color: black"><B>59-0906081</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or Other Jurisdiction</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of Incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Commission</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>File Number)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(IRS Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>10070 Daniels Interstate Court, Suite
100, Fort Myers, FL 33913</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of Principal Executive Offices)
(Zip Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>(239) 226-2000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s Telephone Number, Including
Area Code)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former Name or Former Address, if Changed
Since Last Report)</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2 below):</P>

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

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    <TD STYLE="width: 4%; font-family: Wingdings"><FONT STYLE="font-family: Wingdings; color: black">&#168;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="color: black">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 4%; font-family: Wingdings"><FONT STYLE="font-family: Wingdings; color: black">&#168;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="color: black">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings"><FONT STYLE="font-family: Wingdings; color: black">&#168;</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="color: black">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-family: Wingdings"><FONT STYLE="font-family: Wingdings; color: black">&#168;</FONT></TD>
    <TD STYLE="width: 96%; font-family: Times New Roman, Times, Serif"><FONT STYLE="color: black">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif; font-weight: bold"><FONT STYLE="color: black"><B>Item&nbsp;5.03</B></FONT></TD>
    <TD STYLE="width: 90%; font-family: Times New Roman, Times, Serif; font-weight: bold"><FONT STYLE="color: black"><B>AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS;CHANGE IN FISCAL YEAR.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Effective on January
25, 2013, Alico, Inc. (the &ldquo;Company&rdquo;) amended its bylaws to provide for advance notice and related requirements
in connection with shareholder proposals and nominations of directors by shareholders. Shareholder proposals and nominations
for directors at the annual meeting of shareholders must be received in writing not less than one hundred twenty (120) days
(not less than twenty (20) days for the annual meeting to be held on February 22, 2013 only) nor more than one hundred fifty
(150) days prior to the one-year anniversary of the preceding year&rsquo;s annual meeting. Shareholder proposals and
nominations must also be in proper form which must include, among other things, the name and address of the proposing
shareholder and the number of shares directly or indirectly beneficially owned by such shareholder and information regarding
the proposals or director nominees. The amended bylaws also provide additional eligibility and other requirements for
director nominees, requirements to call special meetings of the shareholders, and requirements to take shareholder action by
written consent in lieu of a meeting. The Company&rsquo;s amended and restated bylaws are included as Exhibit 3.1 to this
Current Report on Form 8-K.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; font-family: Times New Roman, Times, Serif; font-weight: bold"><FONT STYLE="color: black"><B>Item&nbsp;9.01</B></FONT></TD>
    <TD STYLE="width: 88%; font-family: Times New Roman, Times, Serif; font-weight: bold"><FONT STYLE="color: black"><B>FINANCIAL STATEMENTS AND EXHIBITS.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in">d) Exhibits.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.45pt; font-family: Times New Roman, Times, Serif; width: 10%"><U>Exhibit No.</U></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 2%">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><U>Description</U></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">Exhibit&nbsp;3.1</TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="color: black">Amended and Restated Bylaws dated January 25, 2013.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9.9pt 0 0; text-indent: 23.1pt">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

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

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<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="color: black">ALICO, INC</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 59%; padding-top: 9.9pt"><FONT STYLE="color: black">Date: January 25, 2013</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid">By:</P></TD>
    <TD STYLE="vertical-align: bottom; width: 32%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.75pt solid">/s/ W. Mark Humphrey</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="color: black">&nbsp;Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="color: black">W. Mark Humphrey</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="color: black">Title:</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="color: black">Senior Vice President and<BR>
Chief Financial Officer</FONT></TD></TR>
</TABLE>



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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

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

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    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 8.45pt; font-family: Times New Roman, Times, Serif"><U>Exhibit No.</U></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><U>Description</U></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">Exhibit&nbsp;3.1</TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="color: black">Amended and Restated Bylaws dated January 25, 2013.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>e51681ex3_1.htm
<DESCRIPTION>AMENDED AND RESTATED BYLAWS OF ALICO, INC.
<TEXT>
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<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt 396pt; text-transform: uppercase; text-align: left">Exhibit
3.1 <BR>
<FONT STYLE="font-variant: normal; text-transform: none">Amended January 25, 2013</FONT></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">AMENDED
AND RESTATED BYLAWS<BR>
OF<BR>
ALICO, INC.</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
I.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Principal
Office</U>. The principal office of the Company shall be at 10070 Daniels Interstate Court, Suite 100, Ft. Myers, FL, or such
other place in the state of Florida, as the Board of Directors shall from time to time deem advisable and in the best interest
of the Company.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
II.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Place,
Time and Notice of Stockholders Meetings</U>. The annual meeting of the stockholders shall be held at the principal office of
the Company or at such other place, either within or without the state of Florida, as may be provided in the notice of the meeting,
at a time and place as may be ordered by the Board of Directors. Special meetings of the stockholders may be held at any time,
either within or without the State of Florida, as provided in the notice of the meeting, and may be called by the Chairman of
the Board, President, the Board of Directors, or the holders of not less than one-tenth of the capital stock entitled to vote
at the meeting, subject to compliance with the requirements of Article XVII hereof. Notice of time and place of any meeting of
stockholders shall be given as required under the laws of the state of Florida. Any stockholder may waive notice of any meeting
either before, at or after the meeting. The terms &ldquo;stockholders&rdquo; and &ldquo;shareholders&rdquo; are used interchangeably
in the Bylaws and shall be deemed to refer to &ldquo;shareholders&rdquo; within the meaning of the Florida Business Corporation
Act.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
III.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Quorum
of and Voting by Stockholders</U>. At any meeting of the stockholders, a majority in interest of all the capital stock issued
and outstanding and entitled to vote, represented by stockholders of record either in person or by proxy, shall constitute a quorum,
but a lesser interest may adjourn a meeting from time to time and the meeting may be held as adjourned without further notice.
When a quorum is present at any meeting, a majority in interest of the capital stock represented thereat shall decide any question
brought before such meeting, unless the question be one which by express provision of law, or of these Bylaws, a larger or different
vote is required, in which case such express provision shall govern.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
IV.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Proxies</U>.
Every holder of the capital stock of the Company shall be entitled to one vote for each share of capital stock standing in his/her
name on the books of the Company as provided under the laws of the state of Florida. A stockholder may vote either in person or
by proxy executed in writing and filed with the Secretary before the meeting at which such proxy shall be voted. A proxy shall
entitle the holder thereof to vote at any adjournment of such meeting, but shall not be valid after the final adjournment thereof.
In order for a proxy to</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">be counted as valid
the stockholder shall provide such reasonable proof of ownership as the Inspector of Elections shall deem reasonably appropriate
in the circumstances.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
V.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Number,
Election and Duties of Directors; Vacancies in Board.</U> The management of the business and affairs of the Company shall be vested
in a Board of Directors ranging from seven (7) to eleven (11) directors, which shall have all of the powers possessed by the Company
itself, so far as this designation of authority is not inconsistent with the laws of the state of Florida, the Articles of Incorporation,
or some other express provision of these Bylaws. The number of Directors may be increased or decreased from time to time by amendment
of the Bylaws consistent with the limitations provided in the Articles of Incorporation, but no decrease shall have the effect
of shortening the term of any incumbent director.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">At
each annual meeting of the stockholders, the stockholders shall elect Directors to hold office until the next succeeding
annual meeting or until their respective successors shall be elected and qualified. The Board of Directors shall designate
and appoint one of its members as Chairman of the Board, and may but shall not be required to designate one of its members as
Vice Chairman of the Board<FONT STYLE="color: black"> who shall act as Chairman in the absence of the Chairman</FONT>. The
stockholders, at any special meeting, may remove from office any Director of the Company and may fill the vacancy caused by
such removal.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Any
vacancy occurring in the Board of Directors because of death, resignation, removal, increase in the number of directors, or otherwise,
may be filled by the affirmative vote of a majority of the remaining Directors though less than a quorum of the Board of Directors.
Any Director elected to fill a vacancy shall be elected for the unexpired term of his/her predecessor in office.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
VI.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Directors&rsquo;
Meetings</U>. Meetings of the Board of Directors, regular or special, may be held either within or without the state of Florida.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">The
Board of Directors shall meet each year immediately after the annual meeting of the stockholders for the purpose of organization,
election of officers, and the consideration of any other business that may properly be brought before the meeting. No notice of
any kind to either old or new members of the Board of Directors for such annual meeting shall be necessary.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Other
meetings of the Board of Directors may be held at any time or place upon notice thereof being given in writing to each Director
at his/her residence or place of business upon the call by the Chairman, the Chief Executive Officer, or two or more Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Notice
of any such other meeting of the Board of Directors may be waived in writing signed by the person or persons entitled to such
notice, whether before or after the time of such meeting, and shall be equivalent to the giving of such notice. Attendance of
a Director at such other meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting
for the express purpose of objecting to the transaction of any business, because such meeting is not lawfully convened.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Any
action of the Board of Directors which is required or permitted to be taken at a meeting may be taken without a meeting if written
consent to the action signed by all members of the Board is filed in the minutes of the proceedings of the Board prior to the
taking of such action.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Chairman
of the Board</U>. The directors may elect one of their members to be Chairman of the Board of Directors. <FONT STYLE="color: black">The
Chairman of the Board shall preside at all meetings of the Board of Directors if present. The</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="color: black">Chairman
of the Board shall perform such duties as from time to time may be assigned to him by the Board of Directors.</FONT> The
Chairman of the Board shall preside at all meetings of the stockholders.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
VII.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Quorum
of Board of Directors</U>. A majority of the Board of Directors shall constitute a quorum for the transaction of business, but
a lesser number may adjourn any meeting from time to time, and the meeting may be held so adjourned without further notice. The
act of a majority of the Directors present at a meeting, at which a quorum is present, shall be the act of the Board of Directors,
except as otherwise provided by law or by these Bylaws.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
VIII.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Designation
of Committees</U>. The Board of Directors may, by resolution adopted by a majority of the Board, designate one or more committees
and appoint Board members to serve on such committees pursuant to Section 607.0825, Florida Statutes, each committee to consist
of one or more of the directors of the Corporation. 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. In the absence or disqualification
of a member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or
not he or they constitute a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in
place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the Board of
Directors or the Charter of said committee, shall have and may exercise all the powers and authority of the Board of Directors
in the management of the business, property, and affairs of the Corporation except as set forth in Section 607.0825 of the Florida
Statutes. The Board of Directors shall approve a Charter for each of its committees. Such charter may include the duration and
authority of the committee. Each committee which has been established by the Board of Directors pursuant to these Bylaws may fix
its own rules and procedures; provided that a majority of all the members of a committee shall constitute a quorum for the transaction
of business, and the vote of a majority of all the members of a committee present at a meeting at which a quorum is present shall
be the act of the committee. Notice of meetings of committees, other than of regular meetings provided for by committee rules,
shall be given to committee members. All action taken by committees shall be recorded in minutes of the meetings.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Committees</U>.
The Company shall have an Audit Committee, a Compensation Committee and a Nominating and Governance Committee, each to be governed
by the charters adopted by the Board of Directors. If the name of any committee is changed without modifying in any material respect
such committee&rsquo;s purpose, authority, responsibilities, or similar matters, then these Bylaws need not be formally amended
to reflect the name change. If the Board deems it appropriate, the Board may designate additional Committees of limited duration
for any special purpose which the Board deems appropriate and these Bylaws need not be amended in such event.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
IX.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Officers:
How Appointed, Vacancies</U>. The officers of the Company shall be a Chief Executive Officer and/or President, a Chief Operating
Officer, one or more Vice Presidents, a Chief Financial Officer, a Controller, a Secretary, a Treasurer, and such other officers,
assistant officers and agents as may be deemed necessary by the Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Any
person may hold two or more offices except that the President may not also be the Secretary or an Assistant Secretary.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">All
officers shall be chosen annually by the Board of Directors at its annual meeting, or as soon thereafter as may conveniently be
possible.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Any
officer or agent elected or appointed by the Board of Directors may be removed by the Board of Directors whenever in its judgment
the best interests of the Company will be served thereby.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">Any
vacancy in any office because of death, resignation, removal, or otherwise, shall be filled by the Board of Directors, and the
officer so elected or appointed shall hold office until his/her successor is chosen and qualified.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
X.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><FONT STYLE="color: black"><U>Chief
Executive Officer.</U> Subject to the control of the Board of Directors, the Chief Executive Officer shall in general
supervise and control all of the business and affairs of the corporation and </FONT>shall be the principal executive officer
of the Corporation. The Chief Executive Officer shall have the general powers and duties of management usually vested in the
office of the Chief Executive Officer of a corporation, and shall have such other powers and duties as may be prescribed by
the Board of Directors or the Bylaws. Subject to such rules as may be prescribed by the Board of Directors, the Chief
Executive Officer shall have the authority to (i) appoint and remove such agents and employees of the Corporation as he shall
deem necessary, to prescribe their powers, duties and compensation, and to delegate authority to them, (ii) sign, execute and
acknowledge, on behalf of the Corporation, all deeds, mortgages, securities, contracts, leases, reports, and all other
documents or other instruments necessary or proper to be executed in the course of the Corporation&rsquo;s regular business,
or which shall be authorized by resolution of the Board of Directors, and (iii) except as otherwise provided by law or the
Board of Directors, authorize any other officer or agent of the Corporation to sign, execute and acknowledge such documents
or instruments in his place and stead.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><FONT STYLE="color: black"><U>President</U>.
If there be such an officer, i</FONT>n the absence or disability of the Chief Executive Officer, the President shall perform all
the duties of the Chief Executive Officer, and when so acting shall have all of the powers of, and be subject to all the restrictions
upon, the Chief Executive Officer. The President shall have such other powers and perform such other duties as from time to time
may be prescribed by the Board of Directors or the Bylaws or the Chief Executive Officer<FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Chief
Operating Officer</U>. If there be such an officer, subject to the control of the Board of Directors and the Chief Executive Officer,
the Chief Operating Officer shall in general perform all of the duties incident to the office of Chief Operating Officer and have
such other duties and exercise such other authority as from time to time may be delegated or assigned to him by the Chief Executive
Officer or by the Board of Directors. The Chief Operating Officer shall have authority to sign, execute and acknowledge, on behalf
of the corporation, all deeds, mortgages, contracts, leases, reports, and all other documents or other instruments necessary or
proper to be executed in the course of the Corporation&rsquo;s regular business, or which shall be authorized by the Chief Executive
Officer or by resolution of the Board of Directors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Chief
Financial Officer</U>.Subject to the control of the Board of Directors and the Chief Executive Officer, the Chief Financial Officer
shall in general perform all of the duties incident to the office of Chief Financial Officer and have such other duties and exercise
such other authority as from time to time may be delegated or assigned to him by the Chief Executive Officer or by the Board of
Directors. The Chief Financial Officer shall have authority to sign, execute and acknowledge, on behalf of the corporation, all
deeds, mortgages, contracts, leases, reports, and all other documents or other instruments necessary or proper to be executed
in the course of the Corporation&rsquo;s regular business, or which shall be authorized by the Chief Executive Officer or by resolution
of the Board of Directors.</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Vice
Presidents</U>. Each Vice President shall have such powers and perform such duties as the Board of Directors may from time to
time prescribe or as the Chief Executive Officer or President may from time to time delegate to him/her.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Secretary</U>.
The Secretary shall keep accurate minutes of the meetings of the stockholders and of the Board of Directors, shall see that all
notices are duly given in accordance with the provisions of these Bylaws and as required by law; shall be custodian of the records
and of the seal of the Company and see that the seal is affixed to all documents the execution of which on behalf of the Company
under its seal is duly authorized in accordance with the provisions of these Bylaws; and in general shall perform all duties incident
to the office of Secretary and such other duties as may from time to time be assigned to him/her by the Board of Directors or
the President.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Treasurer</U>.
The Treasurer shall have custody of all of the monies of the Company and shall keep accurate records and accounts thereof which
shall be subject to the inspection and control of the Board of Directors at all times. He/she shall, in general, perform all the
duties incident to his/her office and such other duties as may from time to time be assigned to him/her by the Board of Directors,
Chief Executive Officer, the President, or the Chief Financial Officer. The Treasurer shall if required so to do by the Board
of Directors give the Company a bond in such amount and with such surety or sureties as may be ordered by the Board of Directors
for faithful performance of the duties of his/her office.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Controller</U>.
The Controller shall be the accounting officer of the Company and shall keep accurate books and records of accounts to show all
of the Company&rsquo;s transactions. He/she shall perform all other duties incident to his/her office and such other duties as
may from time to time be assigned to him/her by the Board of Directors or by the President.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XI.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Issuance
of Stock</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">A.
Stock certificates shall be in a form not inconsistent with the Articles of Incorporation and as shall be approved by the Board
of Directors. All certificates shall be consecutively numbered and shall show the name of the person owning the share or shares,
the number of shares owned and the date of the issuance thereof, and shall be signed by the Chairman or President and be attested
by the Secretary or an Assistant Secretary with the corporate seal affixed thereto. Where any such certificate is signed by a
transfer agent or an assistant transfer agent, other then the Company itself, or by a transfer clerk acting on behalf of the Company
and a registrar, the signature of any officer herein named may be facsimile. In case any officer who has signed or whose facsimile
signature has been placed upon such certificate shall have ceased to be such officer before such certificate is issued, it may
be issued by the Company with the same effect as if he/she were such officer at the date of its issue.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">B.
Book-entry System for Share Ownership. Notwithstanding the foregoing, the company may issue shares of stock in the form of uncertificated
shares. Such uncertificated shares of stock shall be credited to a book entry account maintained by the Corporation (or its designee)
on behalf of the shareholder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">C.
Direct Registration Program. Notwithstanding the foregoing, the shares of stock of the company shall be eligible for a Direct
Registration Program operated by a clearing agency registered under Section 17A of the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XII.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Transfer
of Stock</U>. The shares of stock shall be transferred as provided by the laws of the state of Florida. No transfer shall affect
the right of the Company to pay any dividend due upon the stock or to treat the holder of</P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">record as the holder
in fact until such transfer is recorded on the books of the Company or a new certificate is issued to the person to whom it has
been so transferred. It shall be the duty of every stockholder to notify the Company of his/her post office address.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XIII.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Deeds,
Mortgages, Contracts, Etc</U>. Subject always to specific directions of the Board of Directors, all deeds, mortgages, bonds, promissory
notes, leases and other written contracts and agreements to which the Company is a party shall be executed in its name by an Officer
of the Company and attested by the Secretary or an Assistant Secretary, and the Secretary or Assistant Secretary, when necessary
or required, shall affix the corporate seal thereto.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XIV.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Indemnification
of Directors and Officers</U>. The Company shall indemnify each Director and Officer against expenses, costs and liabilities actually
and necessarily incurred or paid by him/her in connection with the defense of any action, suit or proceeding in which he/she is
made a party by reason of his/her being or having been a Director or Officer of the Company except in relation to matters as to
which he/she shall be adjudged in such action, suit or proceeding to be liable for negligence or misconduct in the performance
of his/her duties as such Director or Officer, and such right of indemnification hereby conferred shall not be deemed exclusive
of any other rights to which he/she may be entitled under any Bylaw, agreement, vote of stockholders or otherwise.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XV.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Amendments</U>.
These Bylaws may be amended, added to, altered or repealed at any meeting of the Board of Directors by the affirmative vote of
a majority of the entire Board of Directors provided that notice is given in the call of said meeting that an amendment, addition,
alteration or repeal is to be acted upon.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt">The
stockholders of the Company at any annual or special meeting may also, by the affirmative vote of a majority in interest of the
capital stock issued and outstanding and entitled to vote, amend, add to or repeal these Bylaws, provided that notice is given
in the call of said meeting that an amendment, addition, alteration or repeal is to be acted upon. The Board of Directors may
not amend, alter or repeal any Bylaw adopted by the stockholders.</P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><FONT STYLE="font-size: 12pt">ARTICLE
XVI.</FONT>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><U>Control-Share
Acquisitions</U>. The corporation exercises its right, pursuant to Section 607.0902(5) of the Florida Business Corporation Act,
or any successor thereto, to avoid the provisions pertaining to control-share acquisitions contained in Section 607.0902 of the
Florida Business Corporation Act, or any successor thereto.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; text-indent: 0in; margin: 0"><FONT STYLE="font-size: 12pt"><B><U>ARTICLE XVII</U></B></FONT></P>

<P STYLE="text-align: center; text-indent: 0in; margin: 0"><FONT STYLE="font-size: 12pt"><B><U>Advance Notice of Business to be
Brought Before a Meeting</U></B></FONT></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0; font-size: 10pt"><FONT STYLE="font-size: 12pt"><B><U>Section 17.1 Notice of Business to
be Brought Before an Annual Meeting.</U></B></FONT></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(a)&#9;</B>At
an annual meeting of the shareholders, only such business shall be conducted as shall have been properly brought before the meeting.
To be properly brought before an annual meeting, business must be (i) specified in a notice of meeting given by or at the direction
of the Board of Directors, (ii) if not specified in a</P>


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<P STYLE="text-indent: 0in; margin: 0">notice of meeting, otherwise brought before the meeting by the Board of Directors or the
Chairman of the Board of Directors or (iii) otherwise properly brought before the meeting by a shareholder present in person who
(A) (1) was a beneficial owner of shares of the Corporation both at the time of giving the notice provided for in this Section
17.1 and at the time of the meeting, (2) is entitled to vote at the meeting, and (3) has complied with this Section 1 in all applicable
respects or (B) properly made such proposal in accordance with Rule 14a-8 under the Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder (as so amended and inclusive of such rules and regulations, the &ldquo;Exchange Act&rdquo;).
The foregoing clause (iii) shall be the exclusive means for a shareholder to propose business to be brought before an annual meeting
of the shareholders.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">For purposes of this Article XVII, &ldquo;present in person&rdquo; shall mean that the shareholder
proposing that the business be brought before the annual meeting of the Corporation, or, if the proposing shareholder is not an
individual, a qualified representative of such proposing shareholder, appear at such annual meeting.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">A &ldquo;qualified representative&rdquo; of such proposing shareholder shall be, if such
proposing shareholder is (i) a general or limited partnership, any general partner or person who functions as a general partner
of the general or limited partnership or who controls the general or limited partnership, (ii) a corporation or a limited liability
company, any officer or person who functions as an officer of the corporation or limited liability company or any officer, director,
general partner or person who functions as an officer, director or general partner of any entity ultimately in control of the corporation
or limited liability company or (iii) a trust, any trustee of such trust.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">Shareholders seeking to nominate persons for election to the Board of Directors must comply
with Section 17.2 and Section 17.3 and this Section 17.1 shall not be applicable to nominations except as expressly provided in
Section 17.2 and Section 17.3.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(b)&#9;</B>Without
qualification, for business to be properly brought before an annual meeting by a shareholder, the shareholder must (i) provide
Timely Notice (as defined below) thereof in writing and in proper form to the Secretary of the Corporation and (ii) provide any
updates or supplements to such notice at the times and in the forms required by this Section 17.1.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">To be timely, a shareholder&rsquo;s notice must be delivered to, or mailed and
received at, the principal executive offices of the Corporation not less than one hundred twenty (120) days (not less than
twenty (20) days for the annual meeting to be held in 2013 only) nor more than one hundred fifty (150) days prior to the
one-year anniversary of the preceding year&rsquo;s annual meeting; provided, however, that if the date of the annual meeting
is more than thirty (30) days before or more than sixty (60) days after such anniversary date, notice by the shareholder to
be timely must be so delivered, or mailed and received, not later than the one hundred twentieth (120th) day prior to such
annual meeting or, if later, the tenth (10th) day following the day on which public disclosure of the date of such annual
meeting was first made (such notice within such time periods, &ldquo;Timely Notice&rdquo;).</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">In no event shall any adjournment or postponement of an annual meeting or the announcement
thereof commence a new time period for the giving of Timely Notice as described above.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(c)</B>&#9;To
be in proper form for purposes of this Section 17.1, a shareholder&rsquo;s notice to the Secretary shall set forth:</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 44pt; text-indent: 22pt"><B>(i)&#9;</B>As to each Proposing
Person (as defined below), (A) the name and address of such Proposing Person (including, if applicable, the name and address
that appear on the Corporation&rsquo;s books and records); and (B) the class or series and number of shares of the
Corporation that are, directly or indirectly, owned of record or beneficially owned (within the meaning of Rule 13d-3 under
the Exchange Act) by such Proposing Person, except that such Proposing Person shall in all events be</P>


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<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 44pt; text-indent: 0pt">deemed to beneficially own any shares of any
class or series of the Corporation as to which such Proposing Person has a right to acquire beneficial ownership at any time in
the future (the disclosures to be made pursuant to the foregoing clauses (A) and (B) are referred to as &ldquo;Shareholder Information&rdquo;);</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 44pt; text-indent: 22pt"><B>(ii)&#9;</B>As to each Proposing
Person, (A) any material relationship between such Proposing Person, on the one hand, and the Corporation, any affiliate of
the Corporation or any principal competitor of the Corporation, on the other hand, (B) any direct or indirect material
interest in any material contract or agreement of such Proposing Person with the Corporation, any affiliate of the
Corporation or any principal competitor of the Corporation (including, in any such case, any employment agreement, collective
bargaining agreement or consulting agreement) and (C) any other information relating to such Proposing Person that would be
required to be disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies
or consents by such Proposing Person in support of the business proposed to be brought before the meeting pursuant to Section
14(a) of the Exchange Act (the disclosures to be made pursuant to the foregoing clauses (A) through (C) are referred to as
&ldquo;Disclosable Interests&rdquo;); provided, however, that Disclosable Interests shall not include any such disclosures
with respect to the ordinary course business activities of any broker, dealer, commercial bank, trust company or other
nominee who is a Proposing Person solely as a result of being the shareholder directed to prepare and submit the notice
required by these Bylaws on behalf of a beneficial owner; and</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 44pt; text-indent: 22pt"><B>(iii)&#9;</B>As to each item of
business that the shareholder proposes to bring before the annual meeting, (A) a brief description of the business desired to
be brought before the annual meeting, the reasons for conducting such business at the annual meeting and any material
interest in such business of each Proposing Person, (B) the text of the proposal or business (including the text of any
resolutions proposed for consideration), and (C) a reasonably detailed description of all agreements, arrangements and
understandings between or among any of the Proposing Persons or between or among any Proposing Person and any other record or
beneficial holder(s) or persons(s) who have a right to acquire beneficial ownership at any time in the future of the shares
of any class or series of the Corporation or any other person or entity(including their names) in connection with the
proposal of such business by such shareholder; and (D) any other information relating to such item of business that would be
required to be disclosed in a proxy statement or other filing required to be made in connection with solicitations of proxies
in support of the business proposed to be brought before the meeting pursuant to Section 14(a) of the Exchange Act; provided,
however, that the disclosures required by this paragraph (iii) shall not include any disclosures with respect to any broker,
dealer, commercial bank, trust company or other nominee who is a Proposing Person solely as a result of being the shareholder
directed to prepare and submit the notice required by these Bylaws on behalf of a beneficial owner.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">For purposes of this Article XVII, the term &ldquo;Proposing Person&rdquo; shall mean (i)
the shareholder providing the notice of business proposed to be brought before an annual meeting, (ii) the beneficial owner or
beneficial owners, if different, on whose behalf the notice of the business proposed to be brought before the annual meeting is
made, and (iii) any associate (within the meaning of Rule 12b-2 under the Exchange Act for purposes of these Bylaws) of such shareholder
or beneficial owner.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(d)&#9;</B>A Proposing Person shall
update and supplement its notice to the Corporation of its intent to propose business at an annual meeting, if necessary, so
that the information provided or required to be provided in such notice pursuant to this Section 17.1 shall be true and
correct as of the record date for notice of the meeting and as of the date that is ten (10) business days prior to the
meeting or any adjournment or postponement thereof, and such update and supplement shall be delivered to, or mailed and
received by, the Secretary at the principal executive offices of the Corporation not later than five (5) business days after
the record date for notice of the meeting (in the case of the update and supplement required to be made as of such record
date), and not later than eight (8) business days prior to the date for the meeting or, if practicable, any</P>


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<P STYLE="text-indent: 0in; margin: 0">adjournment or postponement thereof (and, if not practicable, on the first practicable date
prior to the date to which the meeting has been adjourned or postponed) (in the case of the update and supplement required to be
made as of ten (10) business days prior to the meeting or any adjournment or postponement thereof).</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(e)</B>&#9;Notwithstanding anything in these Bylaws to the contrary, no business
shall be conducted at an annual meeting that is not properly brought before the meeting in accordance with this Section 17.1. The
presiding officer of the meeting shall, if the facts warrant, determine that the business was not properly brought before the meeting
in accordance with this Section 17.1, and if he or she should so determine, he or she shall so declare to the meeting and any such
business not properly brought before the meeting shall not be transacted.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(f)&#9;</B>This Section 17.1 is expressly intended to apply to any business proposed
to be brought before an annual meeting of shareholders other than any proposal made in accordance with Rule 14a-8 under the Exchange
Act and included in the Corporation&rsquo;s proxy statement. In addition to the requirements of this Section 17.1 with respect
to any business proposed to be brought before an annual meeting, each Proposing Person shall comply with all applicable requirements
of the Exchange Act with respect to any such business. Nothing in this Section 17.1 shall be deemed to affect the rights of shareholders
to request inclusion of proposals in the Corporation&rsquo;s proxy statement pursuant to Rule 14a-8 under the Exchange Act.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(g)&#9;</B>For purposes of these
Bylaws, &ldquo;public disclosure&rdquo; shall mean disclosure in a press release reported by a national news service or in a
document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Sections 13, 14 or 15(d)
of the Exchange Act.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0"><B><U>Section 17.2. Advance Notice of Nominations for Election to the Board of Directors
at a Meeting.</U></B></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(a)&#9;</B>Nominations of any person for
election to the Board of Directors at an annual meeting or at a special meeting (but only if the election of directors is a matter
specified in the notice of meeting given by or at the direction of the person calling such special meeting) may be made at such
meeting only (i) by or at the direction of the Board of Directors, including by any committee or persons authorized to do so by
the Board of Directors or these bylaws, or (ii) by a shareholder present in person (A) who was a beneficial owner of shares of
the Corporation both at the time of giving the notice provided for in this Section 17.2 and at the time of the meeting, (B) is
entitled to vote at the meeting, and (C) has complied with this Section 17.2 and Section 17.3 as to such notice and nomination.
The foregoing clause (ii) shall be the exclusive means for a shareholder to make any nomination of a person or persons for election
to the Board of Directors at an annual meeting or special meeting.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(b)(i)&#9;</B>Without qualification, for
a shareholder to make any nomination of a person or persons for election to the Board of Directors at an annual meeting, the shareholder
must (A) provide Timely Notice (as defined in Section 17.1) thereof in writing and in proper form to the Secretary of the Corporation,
(B) provide the information, agreements and questionnaires with respect to such shareholder and its candidate for nomination as
required to be set forth by this Section 17.2 and Section 17.3 and (C) provide any updates or supplements to such notice at the
times and in the forms required by this Section 17.2 and Section 17.3.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(ii)</B>&#9;Without qualification, if the
election of directors is a matter specified in the notice of meeting given by or at the direction of the person calling a special
meeting, then for a shareholder to make any nomination of a person or persons for election to the Board of Directors at a special
meeting, the shareholder must (i) provide timely notice thereof in writing and in proper form to the Secretary of the Corporation
at the principal executive offices of the Corporation, (ii) provide the information with respect to such shareholder and its candidate
for nomination as required by this Section 17.2 and Section 17.3 and (iii) provide any updates or supplements to such notice at
the times and in the forms required by this Section 17.2.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>


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<P STYLE="text-indent: 0in; margin: 0">To be timely, a shareholder&rsquo;s notice for nominations to be made at a special
meeting must be delivered to, or mailed and received at, the principal executive offices of the Corporation not earlier than
the one hundred fiftieth (150th) day prior to such special meeting and not later than the one hundred twentieth (120th)
dayprior to such special meeting or, if later, the tenth (10th) day following the day on which public disclosure (as defined
in Section 17.1) of the date of such special meeting was first made.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(iii)</B>&#9;In no event shall any adjournment
or postponement of an annual meeting or special meeting or the announcement thereof commence a new time period for the giving
of a shareholder&rsquo;s notice as described above.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(c)&#9;</B>To be in proper form for purposes
of this Section 17.2, a shareholder&rsquo;s notice to the Secretary shall set forth:</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(i)&#9;</B>As to each Nominating Person
(as defined below), the Shareholder Information (as defined in Section 17.1(c)(i), except that for purposes of this Section 17.2
the term &ldquo;Nominating Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears
in Section 17.1(c)(i));</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(ii)&#9;</B>As to each Nominating Person,
any Disclosable Interests (as defined in Section 17.1(c)(ii), except that for purposes of this Section 2 the term &ldquo;Nominating
Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears in Section 17.1(c)(ii)
and the disclosure with respect to the business to be brought before the meeting in Section 17.1(c)(ii) shall be made with respect
to the election of directors at the meeting); and</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(iii)&#9;</B>As to each candidate whom
a Nominating Person proposes to nominate for election as a director, (A) all information with respect to such candidate for nomination
that would be required to be set forth in a shareholder&rsquo;s notice pursuant to this Section 17.2 and Section 17.3 if such
candidate for nomination were a Nominating Person, (B) all information relating to such candidate for nomination that is required
to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election
of directors in a contested election pursuant to Section 14(a) under the Exchange Act (including such candidate&rsquo;s written
consent to being named in the proxy statement as a nominee and to serving as a director if elected), (C) a description of any
direct or indirect material interest in any material contract or agreement between or among any Nominating Person, on the one
hand, and each candidate for nomination or his or her respective associates or any other participants in such solicitation, on
the other hand, including, without limitation, all information that would be required to be disclosed pursuant to Item 404 under
Regulation S-K if such Nominating Person were the &ldquo;registrant&rdquo; for purposes of such rule and the candidate for nomination
were a director or executive officer of such registrant (the disclosures to be made pursuant to the foregoing clauses (A) through
(C) are referred to as &ldquo;Nominee Information&rdquo;), and (D) a completed and signed questionnaire, representation and agreement
as provided in Section 3(a).</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">For purposes of this Section 17.2, the term &ldquo;Nominating Person&rdquo; shall mean (i)
the shareholder providing the notice of the nomination proposed to be made at the meeting, (ii) the beneficial owner or beneficial
owners, if different, on whose behalf the notice of the nomination proposed to be made at the meeting is made, and (iii) any associate
of such shareholder or beneficial owner or any other participant in such solicitation.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(d)&#9;</B>A shareholder providing notice
of any nomination proposed to be made at a meeting shall further update and supplement such notice, if necessary, so that the
information provided or required to be provided in such notice pursuant to this Section 17.2 shall be true and correct as of the
record date for notice of the meeting and as of the date that is ten (10) business days prior to the meeting or any adjournment
or postponement thereof, and such update and supplement shall be delivered to, or mailed and received by, the Secretary at the
principal executive offices of the Corporation not later than five (5) business days after the record date for</P>


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<P STYLE="text-indent: 0in; margin: 0">notice of the meeting (in the case of the update and supplement required to be made as of
such record date), and not later than eight (8) business days prior to the date for the meeting or, if practicable, any adjournment
or postponement thereof (and, if not practicable, on the first practicable date prior to the date to which the meeting has been
adjourned or postponed) (in the case of the update and supplement required to be made as of ten (10) business days prior to the
meeting or any adjournment or postponement thereof).</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(e)&#9;</B>In addition to the requirements
of this Section 17.2 with respect to any nomination proposed to be made at a meeting, each Nominating Person shall comply with
all applicable requirements of the Exchange Act with respect to any such nominations.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0"><B><U>Section 17.3. Additional Requirements For Valid Nomination of Candidates to
Serve as Director and, If Elected, to Be Seated as Directors.</U></B></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(a)&#9;</B>To be eligible to be a candidate
for election as a director of the Corporation at an annual or special meeting, a candidate must be nominated in the manner prescribed
in Section 17.2 and:</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(i)</B>&#9;the candidate for nomination,
whether nominated by the Board of Directors or by a shareholder of record, must have previously delivered (in accordance with
the time period prescribed for delivery in a notice to such candidate given by or on behalf of the Board of Directors), to the
Secretary at the principal executive offices of the Corporation, (i) a completed written questionnaire (in a form provided by
the Corporation) with respect to the background, qualifications, stock ownership and independence of such proposed nominee and
(ii) a written representation and agreement (in form provided by the Corporation) that such candidate for nomination (A) is not
and, if elected as a director during his or her term of office, will not become a party to (1) any agreement, arrangement or understanding
with, and has not given and will not give any commitment or assurance to, any person or entity as to how such proposed nominee,
if elected as a director of the Corporation, will act or vote on any issue or question (a &ldquo;Voting Commitment&rdquo;) or
(2) any Voting Commitment that could limit or interfere with such proposed nominee&rsquo;s ability to comply, if elected as a
director of the Corporation, with such proposed nominee&rsquo;s fiduciary duties under applicable law, (B) is not, and will not
become a party to, any agreement, arrangement or understanding with any person or entity other than the Corporation with respect
to any direct or indirect compensation or reimbursement for service as a director and (C) if elected as a director of the Corporation,
will comply with all applicable corporate governance, conflict of interest, confidentiality, stock ownership and trading and other
policies and guidelines of the Corporation applicable to directors and in effect during such person&rsquo;s term in office as
a director (and, if requested by any candidate for nomination, the Secretary of the Corporation shall provide to such candidate
for nomination all such policies and guidelines then in effect); and</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(ii)</B>&#9;the candidate for nomination
must meet any eligibility requirements established by these bylaws or the Corporation and corporate governance guidelines as in
effect on the date such nomination is submitted and shall meet the independence requirements for independent directors established
by the NASDAQ stock market.</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(b)&#9;</B>No candidate shall be eligible
for nomination as a director of the Corporation unless such candidate for nomination and the Nominating Person seeking to place
such candidate&rsquo;s name in nomination has complied with Section 17.2 and this Section 17.3, as applicable. The presiding officer
at the meeting shall, if the facts warrant, determine that a nomination was not properly made in accordance with Section 17.2
and this Section 17.3, and if he or she should so determine, he or she shall so declare such determination to the meeting, the
defective nomination shall be disregarded and any ballots cast for the candidate in question (but in the case of any form of ballot
listing other qualified nominees, only the ballots case for the nominee in question) shall be void and of no force or effect.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>


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<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(c)&#9;</B>Notwithstanding anything in these
Bylaws to the contrary, no candidate for nomination shall be eligible to be seated as a director of the Corporation unless nominated
and elected in accordance with this Section 17.3.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0"><B><U>Section 17.4. Special Meetings of Shareholders.</U></B></P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(a)&#9;</B>Special meetings of the shareholders
for any purpose or purposes may be called only (i) by the Chairman of the Board of Directors, (ii) the President, (iii) by the
Board of Directors, pursuant to a resolution approved by a majority of the entire Board of Directors, or (iv) by the Secretary
of the Corporation, following his or her receipt of one or more written demands to call a special meeting of the shareholders
in accordance with, and subject to, this Section 17.4 from shareholders of record as of the record date fixed in accordance with
Section 17.4(d) who hold, in the aggregate, at least 10 percent of the capital stock entitled to vote at the meeting. The notice
of a special meeting shall state the purpose or purposes of the special meeting, and the business to be conducted at the special
meeting shall be limited to the purposes or purposes stated in the notice. Except in accordance with this Section 17.4, shareholders
shall not be permitted to propose business to be brought before a special meeting of the shareholders. Shareholders who nominate
persons for election to the Board of Directors at a special meeting must also comply with the requirements set forth in Section
17.2 and Section 17.3.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(b)&#9;</B>No shareholder may demand that
the Secretary of the Corporation call a special meeting of the shareholders pursuant to Section 17.4(a) unless a shareholder of
record has first submitted a request in writing that the Board of Directors fix a record date (a &ldquo;Demand Record Date&rdquo;)
for the purpose of determining the shareholders entitled to demand that the Secretary of the Corporation call such special meeting,
which request shall be in proper form and delivered to, or mailed and received by, the Secretary of the Corporation at the principal
executive offices of the Corporation.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(c)&#9;</B>To be in proper form for purposes
of this Section 17.4, a request by a shareholder for the Board of Directors to fix a Demand Record Date shall set forth:</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(i)&#9;</B>As to each Requesting Person
(as defined below), the Shareholder Information (as defined in Section 17.1(c)(i), except that for purposes of this Section 17.4
the term &ldquo;Requesting Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears
in Section 17.1(c)(i));</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(ii)&#9;</B>As to each Requesting
Person, any Disclosable Interests (as defined in Section 17.1(c)(ii), except that for purposes of this Section 17.4 the term
&ldquo;Requesting Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears in
Section 17.1(c)(ii) and the disclosure in clause (F) of Section 17.1(c)(ii) shall be made with respect to the business
proposed to be conducted at the special meeting or the proposed election of directors at the special meeting, as the case may
be);</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(iii)&#9;</B>As to the purpose or
purposes of the special meeting, (A) a reasonably brief description of the purpose or purposes of the special meeting and the
business proposed to be conducted at the special meeting, the reasons for conducting such business at the special meeting and
any material interest in such business of each Requesting Person, and (B) a reasonably detailed description of all
agreements, arrangements and understandings between or among any of the Requesting Persons or between or among any Requesting
Person and any other record or beneficial holder of the shares of any class or series of the Corporationor any other person
or entity(including their names) in connection with the request for the special meeting or the business proposed to be
conducted at the special meeting; and</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>


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<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(iv)&#9;</B>If directors are proposed
to be elected at the special meeting, the Nominee Information for each person whom a Requesting Person expects to nominate for
election as a director at the special meeting.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">For purposes of this Section 17.4(c), the term &ldquo;Requesting Person&rdquo; shall mean
(i) the shareholder making the request to fix a Demand Record Date for the purpose of determining the shareholders entitled to
demand that the Secretary call a special meeting, (ii) the beneficial owner or beneficial owners, if different, on whose behalf
such request is made, and (iii) any affiliate or associate of such shareholder or beneficial owner.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(d)&#9;</B>Within ten (10) days after receipt
of a request to fix a Demand Record Date in proper form and otherwise in compliance with this Section 17.4 from any shareholder
of record, the Board of Directors may adopt a resolution fixing a Demand Record Date for the purpose of determining the shareholders
entitled to demand that the Secretary of the Corporation call a special meeting, which date shall not precede the date upon which
the resolution fixing the Demand Record Date is adopted by the Board of Directors. If no resolution fixing a Demand Record Date
has been adopted by the Board of Directors within the ten (10) day period after the date on which such a request to fix a Demand
Record Date was received, the Demand Record Date in respect thereof shall be deemed to be the twentieth (20th) day after the date
on which such a request is received. Notwithstanding anything in this Section 17.4 to the contrary, no Demand Record Date shall
be fixed if the Board of Directors determines that the demand or demands that would otherwise be submitted following such Demand
Record Date could not comply with the requirements set forth in Section 17.4(f).</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(e)&#9;</B>Without qualification, a
special meeting of the shareholders shall not be called pursuant to Section 17.4(a) unless shareholders of record as of the
Demand Record Date who hold, in the aggregate, more than 10 percent of the voting power of the outstanding shares of the
Corporation(the &ldquo;Requisite Percentage&rdquo;) timely provide one or more demands to call such special meeting in
writing and in proper form to the Secretary of the Corporation at the principal executive offices of the Corporation. Only
shareholders of record on the Demand Record Date shall be entitled to demand that the Secretary of the Corporation call a
special meeting of the shareholders pursuant to Section 17.4(a).</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">To be timely, a shareholder&rsquo;s demand to call a special meeting must be delivered to,
or mailed and received at, the principal executive offices of the Corporation not later than the sixtieth (60th) day following
the Demand Record Date.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">To be in proper form for purposes of this Section 17.4, a demand to call a special meeting
shall set forth (i) the business proposed to be conducted at the special meeting or the proposed election of directors at the special
meeting, as the case may be, (ii) the text of the proposal or business (including the text of any resolutions proposed for consideration),
if applicable, and (iii) with respect to any shareholder or shareholders submitting a demand to call a special meeting (except
for any shareholder that has provided such demand in response to a solicitation made pursuant to, and in accordance with, Section
14(a) of the Exchange Act by way of a solicitation statement filed on Schedule 14A) (a &ldquo;Solicited Shareholder&rdquo;) the
information required to be provided pursuant to this Section 17.4 of a Requesting Person.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">A shareholder may revoke a demand to call a special meeting by written revocation delivered
to the Secretary at any time prior to the special meeting. If any such revocation(s) are received by the Secretary after the Secretary&rsquo;s
receipt of written demands from the holders of the Requisite Percentage of shareholders, and as a result of such revocation(s),
there no longer are unrevoked demands from the Requisite Percentage of shareholders to call a special meeting, the Board of Directors
shall have the discretion to determine whether or not to proceed with the special meeting.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(f)&#9;</B>The Secretary shall not accept,
and shall consider ineffective, a written demand from a shareholder to call a special meeting (i) that does not comply with this
Section 17.4, (ii) that relates to an item</P>


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<P STYLE="text-indent: 0in; margin: 0">of business to be transacted at such meeting that is not a proper subject for shareholder
action under applicable law, (iii) that includes an item of business to be transacted at such meeting that did not appear on the
written request that resulted in the determination of the Demand Record Date, (iv) that relates to an item of business (other than
the election of directors) that is identical or substantially similar to an item of business (a &ldquo;Similar Item&rdquo;) for
which a record date for notice of a shareholder meeting (other than the Demand Record Date) was previously fixed and such demand
is delivered between the time beginning on the sixty-first (61st) day after such previous record date and ending on the one-year
anniversary of such previous record date, (v) if a Similar Item will be submitted for shareholder approval at any shareholder meeting
to be held on or before the ninetieth (90th) day after the Secretary receives such demand, or (vi) if a Similar Item has been presented
at the most recent annual meeting or at any special meeting held within one year prior to receipt by the Secretary of such demand
to call a special meeting.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(g)&#9;</B>After receipt of demands in proper
form and in accordance with this Section 17.4 from a shareholder or shareholders holding the Requisite Percentage, the Board of
Directors shall duly call, and determine the place, date and time of, a special meeting of shareholders for the purpose or purposes
and to conduct the business specified in the demands received by the Corporation. Notwithstanding anything in these Bylaws to
the contrary, the Board of Directors may submit its own proposal or proposals for consideration at such a special meeting. The
record date for notice and voting for such a special meeting shall be fixed in accordance with the laws of the state of Florida.
The Board of Directors shall provide written notice of such special meeting to the shareholders in accordance with the laws of
the state of Florida.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(h)&#9;</B>In connection with a special meeting
called in accordance with this Section 17.4, the shareholder or shareholders (except for any Solicited Shareholder) who requested
that the Board of Directors fix a record date for notice and voting for the special meeting in accordance with this Section 17.4
or who delivered a demand to call a special meeting to the Secretary shall further update and supplement the information previously
provided to the Corporation in connection with such request or demand, if necessary, so that the information provided or required
to be provided in such request or demand pursuant to this Section 17.4 shall be true and correct as of the record date for notice
of the special meeting and as of the date that is ten (10) business days prior to the special meeting or any adjournment or postponement
thereof, and such update and supplement shall be delivered to, or mailed and received by, the Secretary at the principal executive
offices of the Corporation not later than five (5) business days after the record date for notice of the special meeting (in the
case of the update and supplement required to be made as of such record date), and not later than eight (8) business days prior
to the date for the special meeting or, if practicable, any adjournment or postponement thereof (and, if not practicable, on the
first practicable date prior to the date to which the special meeting has been adjourned or postponed) (in the case of the update
and supplement required to be made as of ten (10) business days prior to the special meeting or any adjournment or postponement
thereof).</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(i)&#9;</B>Notwithstanding anything in
these Bylaws to the contrary, the Secretary shall not be required to call a special meeting pursuant to this Section 17.4
except in accordance with this Section 17.4. If the Board of Directors shall determine that any request to fix a record date
for notice and voting for the special meeting or demand to call and hold a special meeting was not properly made in
accordance with this Section 17.4, or shall determine that the shareholder or shareholders requesting that the Board of
Directors fix such record date or submitting a demand to call the special meeting have not otherwise complied with this
Section 17.4, then the Board of Directors shall not be required to fix such record date or to call and hold the special
meeting. In addition to the requirements of this Section 17.4, each Requesting Person shall comply with all requirements of
applicable law, including all requirements of the Exchange Act, with respect to any request to fix a record date for notice
and voting for the special meeting or demand to call a special meeting.</P>

<P STYLE="text-indent: 0in; margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-indent: 0in; margin: 0"><B><U>Section 17.5. Action by Written Consent in Lieu of a Meeting.</U></B></P>


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<P STYLE="text-indent: 0in; margin: 0"><I>&nbsp;</I></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(a)&#9;</B>Any action required or permitted
to be taken at an annual or special meeting of shareholders 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, (i) shall be signed by holders of record on the
record date established pursuant to Section 17.5(b) below (the &ldquo;Written Consent Record Date&rdquo;) of outstanding shares
of the Corporation having not less than the minimum number of votes that would be necessary to authorize or take such action at
a meeting at which all shares entitled to vote thereon were present and voted and (ii) shall be delivered to the Corporation at
its registered office, at its principal place of business or to an officer or agent of the Corporation having custody of the minute
books in which proceedings of meetings of shareholders are recorded. Delivery shall be made by hand or by certified or registered
mail, return receipt requested. Every written consent shall bear the date of the signature of each shareholder who signs the consent,
and no written consent shall be effective to take corporate action unless, within sixty (60) days of the earliest dated valid
consent delivered in the manner described in this Section 17.5, written consents signed by a sufficient number of holders to take
such action are delivered to the Corporation in the manner described in this Section 17.5. Only shareholders of record on the
Written Consent Record date shall be entitled to consent to corporate action in writing without a meeting.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(b)&#9;</B>Without qualification, any shareholder
of record seeking to have the shareholders authorize or take any action by written consent shall first request in writing that
the Board of Directors fix a Written Consent Record Date for the purpose of determining the shareholders entitled to take such
action, which request shall be in proper form and delivered to, or mailed and received by, the Secretary of the Corporation at
the principal executive offices of the Corporation.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">Within ten (10) days after receipt of a request in proper form and otherwise in compliance
with this Section 17.5(b) from any such shareholder, the Board of Directors may adopt a resolution fixing a Written Consent Record
Date for the purpose of determining the shareholders entitled to take such action, which date shall not be more than ten (10) days
after the date upon which the resolution fixing the record date is adopted by the Board of Directors. If no resolution fixing a
record date has been adopted by the Board of Directors within such ten (10) day period after the date on which such a request is
received, (i) the Written Consent Record Date for determining shareholders entitled to consent to such action, when no prior action
of the Board of Directors is required by applicable law, shall be the first date on which valid signed written consents constituting
a majority of the outstanding shares of the Corporation and setting forth the action taken or proposed to be taken is delivered
to the Corporation in the manner described in this Section 17.5, and (ii) the Written Consent Record Date for determining shareholders
entitled to consent to such action, when prior action by the Board of Directors is required by applicable law, shall be at the
close of business on the date on which the Board of Directors adopts the resolution taking such prior action.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(c)&#9;</B>To be in proper form for purposes
of this Section 17.5, a request by a shareholder for the Board of Directors to fix a Written Consent Record Date shall set forth:</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(i)&#9;</B>As to each Soliciting Person
(as defined below), the Shareholder Information (as defined in Section 17.1(c)(i), except that for purposes of this Section 17.5
the term &ldquo;Soliciting Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears
in Section 17.1(c)(i));</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(ii)&#9;</B>As to each Soliciting Person,
any Disclosable Interests (as defined in Section 17.1(c)(ii), except that for purposes of this Section 17.5 the term &ldquo;Soliciting
Person&rdquo; shall be substituted for the term &ldquo;Proposing Person&rdquo; in all places it appears in Section 17.1(c)(ii)
and the disclosure in clause (F)of Section 17.1(c)(ii) shall be made with respect to the action or actions proposed to be taken
by written consent);</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(iii)&#9;</B>As to the action or actions
proposed to be taken by written consent, (A) a reasonably brief description of the action or actions, the reasons for taking such
action or actions and any material interest in such action or actions of each Soliciting Person, (B) the text of the resolutions
or consent</P>


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<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 0pt">proposed to be acted upon by written consent
of the shareholders, and (C) a reasonably detailed description of all agreements, arrangements and understandings between or among
any of the Soliciting Persons and between or among any Soliciting Person and any other record or beneficial owner of capital stock
of the Corporation(including their names) in connection with the request or such action or actions; and</P>

<P STYLE="text-indent: -0.5in; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 22pt; text-indent: 22pt"><B>(iv)&#9;</B>If directors are proposed
to be elected by written consent, the Nominee Information for each person whom a Requesting Person proposes to elect as a director
by written consent.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="text-indent: 0in; margin: 0">For purposes of this Section 17.5, the term &ldquo;Soliciting Person&rdquo; shall mean (i)
the shareholder making a request for the Board of Directors to fix a record date and proposing the action or actions to be taken
by written consent, (ii) the beneficial owner or beneficial owners, if different, on whose behalf such request is made, and (iii)
any affiliate or associate of such shareholder or beneficial owner.</P>

<P STYLE="text-indent: 0in; margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(d)&#9;</B>In connection with an action
or actions proposed to be taken by written consent in accordance with this Section 17.5, the shareholder or shareholders
seeking such action or actions shall further update and supplement the information previously provided to the Corporation in
connection therewith, if necessary, so that the information provided or required to be provided pursuant to this Section 17.5
shall be true and correct as of the record date for determining the shareholders eligible to take such action and as of the
date that is five (5) business days prior to the date the consent solicitation is commenced, and such update and supplement
shall be delivered to, or mailed and received by, the Secretary at the principal executive offices of the Corporation not
later than five (5) business days after the record date for determining the shareholders eligible to take such action (in the
case of the update and supplement required to be made as of the record date), and not later than three (3) business days
prior to the date that the consent solicitation is commenced (in the case of the update and supplement required to be made as
of five (5) business days prior to the commencement of the consent solicitation). In the event that there is a change in the
information required to be provided by the shareholder pursuant to Section 17.5(c)(iii), the shareholder shall be required to
submit in proper form a new request that the Board of Directors adopt a resolution fixing a new Written Consent Record Date
in accordance with Section 17.5(b) of these Bylaws.</P>

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<P STYLE="margin-top: 0pt; margin-bottom: 6pt; margin-left: 0; text-indent: 22pt"><B>(e)&#9;</B>Notwithstanding anything in these
Bylaws to the contrary, no action may be taken by the shareholders by written consent except in accordance with this Section 17.5.
If the Board of Directors shall determine that any request to fix a Written Consent Record Date or to take shareholder action
by written consent was not properly made in accordance with this Section 17.5, or the shareholder or shareholders seeking to take
such action do not otherwise comply with this Section 17.5, then the Board of Directors shall not be required to fix a Written
Consent Record Date and any such purported action by written consent shall be null and void to the fullest extent permitted by
applicable law. In addition to the requirements of this Section 17.5 with respect to shareholders seeking to take an action by
written consent, each Soliciting Person shall comply with all requirements of applicable law, including all requirements of the
Exchange Act, with respect to such action.</P>



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