<SEC-DOCUMENT>0001144204-19-030871.txt : 20190613
<SEC-HEADER>0001144204-19-030871.hdr.sgml : 20190613
<ACCEPTANCE-DATETIME>20190613172833
ACCESSION NUMBER:		0001144204-19-030871
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20190612
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190613
DATE AS OF CHANGE:		20190613

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEDIFAST INC
		CENTRAL INDEX KEY:			0000910329
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090]
		IRS NUMBER:				133714405
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31573
		FILM NUMBER:		19896957

	BUSINESS ADDRESS:	
		STREET 1:		11445 CRONHILL DRIVE
		CITY:			OWINGS MILLS
		STATE:			MD
		ZIP:			21117
		BUSINESS PHONE:		7327640619

	MAIL ADDRESS:	
		STREET 1:		11445 CRONHILL DRIVE
		CITY:			OWINGS MILLS
		STATE:			MD
		ZIP:			21117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEALTHRITE INC
		DATE OF NAME CHANGE:	19951120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	XX
		DATE OF NAME CHANGE:	19950619

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	00
		DATE OF NAME CHANGE:	19950619
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv523557_8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 2in">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
June 12, 2019</P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEDIFAST, INC.</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Delaware</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">jurisdiction of incorporation)</P></TD>
    <TD STYLE="width: 34%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>001-31573</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">File Number)</P></TD>
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>13-3714405</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>100 International Drive, Baltimore, Maryland 21202</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of Principal Executive Offices) (Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Registrant's telephone number, including area code: <B><U>(410) 581-8042</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>N/A</U></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
        Since Last Report)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered pursuant to Section
12(b) of the Act:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 40%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Title of each class</FONT></TD>
    <TD STYLE="width: 17%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Trading Symbol</FONT></TD>
    <TD STYLE="width: 43%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Name of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center; text-indent: 5.5pt"><FONT STYLE="font-size: 10pt">Common Stock, par value $0.001 per share</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">MED</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">New York Stock Exchange</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (<I>see</I> General Instruction
A.2. below):</P>

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">Emerging growth
company <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in; text-indent: 0.5in; text-align: right">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 99%; text-align: left">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.</TD>
    <TD STYLE="width: 1%; text-align: right; padding-left: 3pt; vertical-align: bottom"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Item 5.03.</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On June 13, 2019, the Board of Directors
of Medifast, Inc. (the &ldquo;Company&rdquo;) approved a clarifying amendment to the Company&rsquo;s Amended and Restated Bylaws
to provide for the issuance of uncertificated shares of the Company&rsquo;s capital stock. The foregoing summary does not purport
to be complete and is qualified in its entirety by reference to the Amended and Restated Bylaws, a copy of which is attached hereto
as Exhibit 3.1 and is incorporated by reference herein.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0.8pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 5.07.</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt"><B>Submission of Matters to a Vote of Security Holders.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">On June 12, 2019, the Company held its 2019 Annual Meeting of
Stockholders (the &ldquo;Annual Meeting&rdquo;) at The Four Seasons Baltimore in Baltimore, Maryland. At the Annual Meeting, the
stockholders voted on the following three proposals and cast their votes as described below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: left">(i) The number of shares voted and broker
non-votes for the directors nominated for election to the Board of Directors are set forth below:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Director Name</U></B></FONT></TD>
    <TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>For</U></B></FONT></TD>
    <TD STYLE="width: 24%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Withhold/Against</U></B></FONT></TD>
    <TD STYLE="width: 24%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Broker Non-Votes</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Jeffrey J. Brown</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,429,919</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">191,443</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Kevin G. Byrnes</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,600,076</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">21,286</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Daniel R. Chard</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,599,862</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">21,500</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Constance C. Hallquist</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,598,611</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">22,751</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Michael A. Hoer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,599,651</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">21,711</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Michael C. MacDonald</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,589,260</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">32,102</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Carl E. Sassano</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,585,508</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">35,854</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Scott Schlackman </FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,597,237</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">24,125</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Andrea B. Thomas</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,601,075</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">20,287</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Ming Xian</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">9,591,589</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">29,773</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Accordingly, each of individuals listed above were elected to
the Company&rsquo;s Board of Directors, each to hold office until the Company&rsquo;s next annual meeting of stockholders and until
his or her successor is duly elected and qualified, or until his or her earlier death, resignation or removal.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: left">(ii) The stockholders voted on a proposal
to ratify the appointment of RSM US LLP as the Company&rsquo;s Independent Registered Public Accounting Firm for the Company&rsquo;s
fiscal year ending December 31, 2019. The proposal was approved by a vote of stockholders as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>For:</B></FONT></TD>
    <TD STYLE="width: 53%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">10,580,448</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Against:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">109,749</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Abstained:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">22,614</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: left">(iii) The stockholders voted on a proposal
to approve on an advisory basis the compensation of the Company&rsquo;s named executive officers as set forth in the proxy statement
for the Annual Meeting. The proposal was approved by a vote of the stockholders as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>For:</B></FONT></TD>
    <TD STYLE="width: 53%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">9,530,762</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Against:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">61,711</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Abstained:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">28,889</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><FONT STYLE="font-size: 10pt"><B>Broker Non-Votes:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">1,091,449</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Item 8.01.</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Other Events.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 13, 2019, the Company issued a press release announcing
the declaration of a cash dividend by the Company&rsquo;s Board of Directors. The full text of the press release is attached as
Exhibit 99.1 to this Form 8-K and is incorporated by reference herein.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1in; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Item 9.01.</B></FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><B>Financial Statements and Exhibits.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt"><I>Exhibits.</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in"><A HREF="tv523557_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">3.1</FONT></A></TD>
    <TD><A HREF="tv523557_ex3-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt; background-color: white">Amended and Restated Bylaws of Medifast, Inc.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><A HREF="tv523557_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">99.1</FONT></A></TD>
    <TD><A HREF="tv523557_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Press release dated June 13, 2019 titled &ldquo;Medifast, Inc. Announces Quarterly Dividend&rdquo;</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt"><FONT STYLE="font-size: 10pt">MEDIFAST,&nbsp;INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">/s/ Timothy Robinson</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Timothy Robinson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0">Chief Financial Officer</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Dated: June 13, 2019</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>tv523557_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEDIFAST, INC.,</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>a Delaware Corporation</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amended and Restated as of June 13, 2019)</P>

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

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

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

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

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">ARTICLE I<BR>
<BR>
Stockholders</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1in">Section 1.1</TD>
    <TD>Annual Meeting</TD>
    <TD STYLE="width: 0.5in; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.2</TD>
    <TD>Notice of Business to be Brought Before an Annual Meeting</TD>
    <TD STYLE="text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.3</TD>
    <TD>Special Meetings</TD>
    <TD STYLE="text-align: right">5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.4</TD>
    <TD>Manner of Giving Notice</TD>
    <TD STYLE="text-align: right">8</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.5</TD>
    <TD>Notice of Director Nominations</TD>
    <TD STYLE="text-align: right">8</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.6</TD>
    <TD>Submission of Questionnaire, Representation and Agreement</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.7</TD>
    <TD>General</TD>
    <TD STYLE="text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.8</TD>
    <TD>Quorum</TD>
    <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.9</TD>
    <TD>Required Vote</TD>
    <TD STYLE="text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.10</TD>
    <TD>Stockholder Action by Written Consent</TD>
    <TD STYLE="text-align: right">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.11</TD>
    <TD>Proxies, Written Authorization and Electronic Authorization</TD>
    <TD STYLE="text-align: right">14</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.12</TD>
    <TD>Lists of Stockholders</TD>
    <TD STYLE="text-align: right">15</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 1.13</TD>
    <TD>Stockholder Record Date</TD>
    <TD STYLE="text-align: right">15</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 1.14</TD>
    <TD>Presiding Officer and Secretary</TD>
    <TD STYLE="text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE II</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">DIRECTORS</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 2.1</TD>
    <TD>General Powers</TD>
    <TD STYLE="text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 2.2</TD>
    <TD>Number of Directors</TD>
    <TD STYLE="text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 2.3</TD>
    <TD>Term of Directors</TD>
    <TD STYLE="text-align: right">16</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 2.4</TD>
    <TD>Vacancies and Newly Created Directorships</TD>
    <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 2.5</TD>
    <TD>Resignation or Removal</TD>
    <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 2.6</TD>
    <TD>Meetings</TD>
    <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 2.7</TD>
    <TD>Quorum and Voting</TD>
    <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 2.8</TD>
    <TD>Written Consents and Meetings by Telephone</TD>
    <TD STYLE="text-align: right">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 2.9</TD>
    <TD>Compensation</TD>
    <TD STYLE="text-align: right">18</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 2.10</TD>
    <TD>The &ldquo;Whole Board&rdquo;</TD>
    <TD STYLE="text-align: right">18</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE III</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">COMMITTEES OF THE BOARD</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 3.1</TD>
    <TD>Appointment and Powers</TD>
    <TD STYLE="text-align: right">18</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
</TABLE>

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

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

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE IV</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">OFFICERS, AGENTS AND EMPLOYEES</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1in">Section 4.1</TD>
    <TD>Appointment and Qualification</TD>
    <TD STYLE="text-align: right; width: 0.5in">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.2</TD>
    <TD>Removal of Officers, Agents or Employees</TD>
    <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 4.3</TD>
    <TD>Compensation and Bond</TD>
    <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.4</TD>
    <TD>Chairman of the Board</TD>
    <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 4.5</TD>
    <TD>Chief Executive Officer</TD>
    <TD STYLE="text-align: right">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.6</TD>
    <TD>President</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 4.7</TD>
    <TD>Vice Presidents</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.8</TD>
    <TD>Treasurer</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 4.9</TD>
    <TD>Assistant Treasurer</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.10</TD>
    <TD>Secretary</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 4.11</TD>
    <TD>Assistant Secretaries</TD>
    <TD STYLE="text-align: right">20</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 4.12</TD>
    <TD>Delegation of Duties</TD>
    <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE V</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">CAPITAL STOCK</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 5.1</TD>
    <TD>Certificates</TD>
    <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 5.2</TD>
    <TD>Transfers of Stock</TD>
    <TD STYLE="text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 5.3</TD>
    <TD>Lost, Stolen or Destroyed Certificates</TD>
    <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE VI</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">SEAL</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 6.1</TD>
    <TD>Seal</TD>
    <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE VII</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">NOTICE</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 7.1</TD>
    <TD>Notice of Meetings</TD>
    <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 7.2</TD>
    <TD>Notices</TD>
    <TD STYLE="text-align: right">22</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 7.3</TD>
    <TD>Waiver of Notice</TD>
    <TD STYLE="text-align: right">23</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE VIII</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">INDEMNIFICATION</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 8.1</TD>
    <TD>Indemnification</TD>
    <TD STYLE="text-align: right">23</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 8.2</TD>
    <TD>Determinations</TD>
    <TD STYLE="text-align: right">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 8.3</TD>
    <TD>Business Combinations</TD>
    <TD STYLE="text-align: right">24</TD></TR>
</TABLE>

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

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

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

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<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 1in">Section 8.4</TD>
    <TD>Advances of Expenses</TD>
    <TD STYLE="text-align: right; width: 0.5in">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>Section 8.5</TD>
    <TD>Employee Benefit Plans</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 8.6</TD>
    <TD>Insurance</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE IX</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">GENERAL MATTERS</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 9.1</TD>
    <TD>Forum for Adjudication of Disputes</TD>
    <TD STYLE="text-align: right">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">ARTICLE X</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">AMENDMENTS</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD>Section 10.1</TD>
    <TD>Amendments</TD>
    <TD STYLE="text-align: right">26</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BYLAWS<BR>
<BR>
of<BR>
<BR>
MEDIFAST, INC.,<BR>
a Delaware Corporation</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Annual Meeting</U>. The annual meeting of the stockholders of Medifast, Inc. (the &ldquo;<U>Company</U>&rdquo;), for
the election of directors and for the transaction of any other business, which may properly be transacted at the annual meeting,
shall be held at such hour on such day and at such place within or without the State of Delaware as may be fixed by Board of Directors
(the &ldquo;<U>Board</U>&rdquo;). The Board may, in its sole discretion, determine that stockholder meetings shall not be held
at any place, but may instead by held solely by means of remote communication in accordance with Section 211(a)(2) of the Delaware
General Corporation Law (the &ldquo;<U>DGCL</U>&rdquo;). If authorized by the Board in its sole discretion, and subject to such
guidelines and procedures as the Board may adopt, stockholders and proxy holders not physically present at a meeting of stockholders
may, to the extent authorized by Section 211(a)(2) of the DGCL, by means of remote communication (a) participate in a meeting of
stockholders, and (b) be deemed present in person and vote at a meeting of stockholders whether such meeting is to be held at a
designated place or solely by means of remote communication.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U>Notice
of Business to be Brought Before an Annual Meeting</U>. (a)&nbsp;At any annual meeting of the stockholders, only such
business shall be conducted as shall have been properly brought before the meeting. To be properly brought before an annual
meeting, business must be (i) brought before the meeting by the Company and specified in the Company&rsquo;s notice of
meeting (or any supplement thereto) given by or at the direction of the Board, (ii) otherwise brought before the meeting by
or at the direction of the Board, or (iii) otherwise properly brought before the meeting by a stockholder who (A)&nbsp;was a
stockholder of record of the Company (and, with respect to any beneficial owner, if different from stockholder of record, on
whose behalf such business is proposed, only if such beneficial owner was the beneficial owner of shares of the Company) both
at the time of giving the notice provided for in this Section&nbsp;1.2(a) and at the time of the meeting, (B)&nbsp;is
entitled to vote at the meeting, and (C)&nbsp;has complied with this Section&nbsp;1.2 as to such business to be
proposed. Except for proposals properly made in accordance with Rule 14a-8 under the Securities Exchange Act of 1934, as
amended, and the rules and regulations thereunder (the &ldquo;<U>Exchange Act</U>&rdquo;), and included in the
Company&rsquo;s notice of meeting given by or at the direction of the Board, the foregoing clause (iii) shall be the
exclusive means for a stockholder to propose business to be brought before an annual meeting of the stockholders.
Notwithstanding anything in these Bylaws to the contrary, no business shall be conducted at an annual meeting except in
accordance with this Section&nbsp;1.2. Stockholders seeking to nominate persons for election to the Board must comply with
Section&nbsp;1.5 and this Section&nbsp;1.2 shall not be applicable to nominations except as expressly provided in
Section&nbsp;1.5.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Without qualification, for business to be properly brought before
an annual meeting by a stockholder, the stockholder must provide (i) timely notice thereof in writing and in proper form to the
Secretary and (ii) any updates and supplements to such notice at the times and in the forms required by Section&nbsp;1.2(d). To
be timely, a stockholder&rsquo;s notice of business proposed to be brought before an annual meeting must be delivered to the Secretary
at the principal executive office of the Company not less than ninety (90) days nor more than one hundred twenty (120) 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 stockholder, to be
timely, must be so delivered not earlier than the one hundred twentieth (120th) day prior to the date of such annual meeting and
not later than the later of the ninetieth (90th) day prior to the date of such annual meeting or the tenth (10th) day following
the day on which Public Disclosure of the date of such annual meeting was first made by the Company. In no event shall any adjournment
or postponement of an annual meeting, or the announcement thereof, commence a new time period (or extend the time period) for the
giving of timely notice as described above. For purposes of these Bylaws, &ldquo;<U>Public Disclosure</U>&rdquo; shall mean disclosure
in a press release reported by a national news service or in a document publicly filed by the Company with the Securities and Exchange
Commission pursuant to Sections 13, 14 or 15(d) of the </FONT>Exchange Act. The Board, by a majority vote of the Whole Board, may
extend to a later date or waive the time periods set forth in this Section 1.2(b) for timely delivery of a stockholder&rsquo;s
notice of business proposed to be brought before an annual meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">To be in proper form for purposes of this Section&nbsp;1.2, a stockholder&rsquo;s
notice of business proposed to be brought before an annual meeting shall set forth:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each Proposing Person, (A) the name and address of each Proposing
Person (including, if applicable, the name and address as they appear on the Company&rsquo;s books), (B) the class and number of
shares of the Company which are owned beneficially and of record by such Proposing Person (with evidence of such ownership attached),
except that such Proposing Person shall be deemed for such purpose to beneficially own any shares of any class or series of capital
stock of the Company as to which such Proposing Person has the right to acquire (whether such right is exercisable immediately
or only after the passage of time or the fulfillment of a condition or both), (B) a representation that such Proposing Person intends
to hold the shares of the Company described in the immediately preceding clause (B) through the date of the annual meeting;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each Proposing Person, any Disclosable Interests of such
Proposing Person;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each item of business that the stockholder proposes to bring
before the annual meeting, (A) a reasonably detailed description of such business, the reason or reasons for conducting such business
at the 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 contracts, agreements,
arrangements and understandings (1) between or among any of the Proposing Persons or (2) between or among any Proposing Person
and any other person or persons (including their names) in connection with the proposal of such business by such stockholder.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Definitions</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&ldquo;<U>Proposing Person</U>&rdquo; shall mean (i) each stockholder of record that provides notice of business proposed
to be brought before an annual meeting pursuant to Section&nbsp;1.2(a) or that signs a Special Meeting Request pursuant to Section&nbsp;1.3(a),
(ii) the beneficial owner or beneficial owners, if different from the stockholder of record, on whose behalf such business proposal
or Special Meeting Request is made, (iii) any participant (as defined in paragraphs&nbsp;(a)(ii)-(vi) of Instruction 3 to Item
4 of Schedule 14A), with such stockholder in such solicitation or associate (within the meaning of Rule 12b-2 under the Exchange
Act for purposes of these Bylaws) of such stockholder or beneficial owner, and (iv) any other person with whom such stockholder
or such beneficial owner (or any of their respective associates or other participants in such solicitation) is Acting in Concert.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">A person shall be deemed to be &ldquo;</FONT><U>Acting in Concert</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;
with another person for purposes of these Bylaws if such person knowingly acts (whether or not pursuant to an express agreement,
arrangement or understanding) in concert or in parallel with, or towards a common goal with such other person, relating to changing
or influencing the control of the Company or in connection with or as a participant in any transaction having that purpose or effect,
where (i) each person is conscious of the other person&rsquo;s conduct and this awareness is an element in their decision-making
processes and (ii) at least one additional factor suggests that such persons intend to act in concert or in parallel, which such
additional factors may include, without limitation, exchanging information (whether publicly or privately), attending meetings,
conducting discussions, or making or soliciting invitations to act in concert or in parallel; provided, that a person shall not
be deemed to be Acting in Concert with any other person solely as a result of the solicitation or receipt of (x) revocable proxies
or consents from such other person in response to a solicitation made pursuant to, and in accordance with, Section&nbsp;14(a) of
the Exchange Act by way of a proxy or consent solicitation statement filed on Schedule 14(a) or (y) tenders of securities from
such other person in a public tender or exchange offer made pursuant to, and in accordance with, Section&nbsp;14(d) of the Exchange
Act by means of a tender offer statement filed on Schedule TO. A person Acting in Concert with another person shall be deemed to
be Acting in Concert with any third party who is also Acting in Concert with such other person.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(C)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;</FONT><U>Disclosable Interests</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;
shall mean (i)&nbsp;the full notional amount of any securities that, directly or indirectly, underlie any &ldquo;derivative security&rdquo;
(as such term is defined in Rule 16a-1(c) under the Exchange Act) that constitutes a &ldquo;call equivalent position&rdquo; (as
such term is defined in Rule 16a-1(b) under the Exchange Act) (&ldquo;</FONT><U>Synthetic Equity Position</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;)
and that is, directly or indirectly, held or maintained by such Proposing Person with respect to any shares of any class or series
of shares of the Company; provided that, for the purposes of the definition of &ldquo;Synthetic Equity Position,&rdquo; the term
&ldquo;derivative security&rdquo; shall also include any security or instrument that would not otherwise constitute a &ldquo;derivative
security&rdquo; as a result of any feature that would make any conversion, exercise or similar right or privilege of such security
or instrument becoming determinable only at some future date or upon the happening of a future occurrence, in which case the determination
of the amount of securities into which such security or instrument would be convertible or exercisable shall be made assuming that
such security or instrument is immediately convertible or exercisable at the time of such determination; and, provided, further,
that any Proposing Person satisfying the requirements of Rule 13d-1(b)(1) under the Exchange Act (other than a Proposing Person
that so satisfies Rule 13d-1(b)(1) under the Exchange Act solely by reason of Rule 13d-1(b)(1)(ii)(E)) shall not be deemed to hold
or maintain the notional amount of any securities that underlie a Synthetic Equity Position held by such Proposing Person as a
hedge with respect to a bona fide derivatives trade or position of such Proposing Person arising in the ordinary course of such
Proposing Person&rsquo;s business as a derivatives dealer, (ii)&nbsp;any rights to dividends on the shares of any class or series
of capital stock of the Company owned beneficially by such Proposing Person that are separated or separable from the underlying
shares of the Company, (iii)&nbsp;any material pending or threatened action, suit or proceeding (whether civil, criminal, investigative,
administrative or otherwise) in which such Proposing Person is, or is reasonably expected to be made, a party or material participant
involving the Company or any of its officers, directors or employees, or any affiliate of the Company, or any officer, director
or employee of such affiliate, (iv)&nbsp;any other material relationship between such Proposing Person, on the one hand, and the
Company, any affiliate of the Company, any officer, director or employee of the Company or any affiliate thereof, or any principal
competitor of the Company, on the other hand, (v)&nbsp;any direct or indirect material interest in any material contract or agreement
of such Proposing Person with the Company, any affiliate of the Company or any principal competitor of the Company (including,
in any such case, any employment agreement, collective bargaining agreement or consulting agreement) and (vi)&nbsp;any other information
relating to such Proposing Person that would be required to be disclosed in a proxy statement or other filing required to be made
in connection with solicitations of proxies or consents by such Proposing Person in support of the business proposed to be brought
before the meeting; provided, however, that Disclosable Interests shall not include any such disclosures with respect to the ordinary
course business activities of any broker, dealer, commercial bank, trust company or other nominee who is a Proposing Person solely
as a result of being the stockholder directed to prepare and submit the Special Meeting Request required by these Bylaws on behalf
of a beneficial owner.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">A stockholder providing notice of business proposed to be brought
before an annual meeting shall further update and supplement such notice, if necessary, so that the information provided or required
to be provided in such notice shall be true and correct (i) as of the record date for the meeting and (ii) as of the date that
is ten (10) business days prior to the meeting or any adjournment or postponement thereof. Such updates and supplements shall be
delivered to the Secretary at the principal executive office of the Company not later than five (5) business days after the record
date for the meeting (in the case of the update and supplement required to be made as of the 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).
As used herein, the term &ldquo;</FONT><U>business day</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo; shall
mean any day that is not a Saturday or Sunday or a day on which banks in the city of the Company&rsquo;s principal place of business
are required or permitted to close.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding anything in these Bylaws to the contrary, except
as otherwise required by law, if the Proposing Person (or a qualified representative of the Proposing Person) giving notice of
business proposed to be brought before an annual meeting of the stockholders does not appear at such annual meeting to present
such proposed business, such proposed business shall not be transacted, notwithstanding that proxies in respect of such vote may
have been received by the Company. A &ldquo;<U>qualified representative</U>&rdquo; of a Proposing Person shall be, if such Proposing
Person 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, a duly appointed officer of the
corporation, (iii) a limited liability company, any manager or officer (or person who functions as an officer) of the limited liability
company or any officer, director, manager or person who functions as an officer, director or manager of any entity ultimately in
control of the limited liability company or (iv) a trust, any trustee of such trust.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Special Meetings</U>. Special meetings of the stockholders of the Company (i) may be called by the Chairman of the Board,
the President or the Secretary when directed to do so by resolution of the Board, (ii) may be called by the Secretary at the written
request of directors representing a majority of the Whole Board and (iii) shall be called by the Secretary upon the written request
of the holders of record of at least a majority of the outstanding shares of common stock of the Company (the &ldquo;<U>Requisite
Percentage</U>&rdquo;), subject to and in compliance with this Section&nbsp;1.3.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">In order for a special meeting to be called upon stockholder request
(&ldquo;</FONT><U>Stockholder Requested Special Meeting</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;), one
or more requests for a special meeting (each, a &ldquo;</FONT><U>Special Meeting Request</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;
and, collectively, the &ldquo;</FONT><U>Special Meeting Requests</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;),
in the form required by this Section&nbsp;1.3(a), must be signed by Proposing Persons that have a combined Net Long Beneficial
Ownership of at least the Requisite Percentage. Only Proposing Persons who are stockholders of record at the time the Special Meeting
Requests representing the Requisite Percentage are validly delivered pursuant to this Section&nbsp;1.3 shall be entitled to sign
a Special Meeting Request. In determining whether a Stockholder Requested Special Meeting has been properly requested by Proposing
Persons that have a combined Net Long Beneficial Ownership of at least the Requisite Percentage, multiple Special Meeting Requests
delivered to the Secretary will be considered together only if (i) each Special Meeting Request identifies the same purpose or
purposes of the Stockholder Requested Special Meeting and the same matters proposed to be acted on at such meeting (in each case
as determined in good faith by the Board), and (ii) such Special Meeting Requests have been dated and delivered to the Secretary
within sixty (60) days of the earliest dated Special Meeting Request. To be in proper form, such Special Meeting Requests shall
comply with, and shall include and set forth, the following:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each Proposing Person, (A) the name and address of each Proposing
Person (including, if applicable, the name and address as they appear on the Company&rsquo;s books), (B) the class and number of
shares of the Company which are owned beneficially and of record by such Proposing Person (with evidence of such ownership attached),
except that such Proposing Person shall be deemed for such purpose to beneficially own any shares of any class or series of capital
stock of the Company as to which such Proposing Person has the right to acquire (whether such right is exercisable immediately
or only after the passage of time or the fulfillment of a condition or both), (C) a representation that such Proposing Person intends
to hold the shares of the Company described in the immediately preceding clause (B) through the date of the Stockholder Requested
Special Meeting and (D) an acknowledgement by the Proposing Person that any reduction in such Proposing Person&rsquo;s Net Long
Beneficial Ownership with respect to which a Special Meeting Request relates following the delivery of such Special Meeting Request
to the Secretary shall constitute a revocation of such Special Meeting Request to the extent of such reduction;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each Proposing Person, any Disclosable Interests of such
Proposing Person;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to the purpose or purposes of the Stockholder Requested Special
Meeting, a reasonably brief statement of the specific purpose or purposes of the Stockholder Requested Special Meeting, the matter(s)
proposed to be acted on and the reasons for conducting such business at the Stockholder Requested Special Meeting, and the text
of any proposal or business to be considered at the Stockholder Requested Special Meeting (including the text of any resolutions
proposed to be considered and, in the event that such business includes a proposal to amend the Bylaws, the language of the proposed
amendment); and</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Such other information and representations as would be required
by Section&nbsp;1.2, including, without limitation, all such information regarding any material interest of the Proposing Person
in the matter(s) proposed to be acted on at the Stockholder Requested Special Meeting and all agreements, arrangements or understandings
between or among any Proposing Person and any other record holder or beneficial owner of shares of any class or series of capital
stock of the Company in connection with the Special Meeting Request or the matter(s) proposed to be brought before the Stockholder
Requested Special Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of this Section&nbsp;1.3, &ldquo;<U>Net Long Beneficial Ownership</U>&rdquo; shall mean those shares of common
stock of the Company as to which the stockholder or Proposing Person, as applicable, possesses (i)&nbsp;the sole power to vote
or direct the voting, (ii)&nbsp;the sole economic incidents of ownership (including the sole right to profits and the sole risk
of loss), and (iii)&nbsp;the sole power to dispose of or direct the disposition; provided that the number of shares calculated
in accordance with clauses&nbsp;(i), (ii) and (iii) shall not include any Synthetic Equity Position.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding anything to the contrary in this Section&nbsp;1.3:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">The Secretary shall not accept, and shall consider ineffective,
a Special Meeting Request if (A)&nbsp;such Special Meeting Request does not comply with these Bylaws, or relates to an item of
business that is not a proper subject for stockholder action under applicable law, (B)&nbsp;the Special Meeting Request is received
by the Company during the period commencing ninety (90) days prior to the first anniversary of the date of the immediately preceding
annual meeting of stockholders and ending on the date of the final adjournment of the next annual meeting of stockholders, (C)&nbsp;an
identical or substantially similar item (a &ldquo;</FONT><U>Similar Item</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;)
to that included in the Special Meeting Request was presented at any meeting of stockholders held within one year prior to receipt
by the Company of such Special Meeting Request, (D)&nbsp;the Chairman, President </FONT>or the Secretary when directed to do so
by resolution of the Board or the Secretary at the written request of the Whole Board <FONT STYLE="font-family: Times New Roman, Times, Serif">calls
an annual or special meeting of stockholders (in lieu of calling the Stockholder Requested Special Meeting) in accordance with
Section&nbsp;1.3(b)(iii), (E)&nbsp;a Similar Item is already included in the Company&rsquo;s notice as an item of business to be
brought before a meeting of the stockholders that has been called but not yet held, or (F)&nbsp;such Special Meeting Request was
made in a manner that involved a violation of Regulation 14A under the Exchange Act, or other applicable law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Business transacted at any Stockholder Requested Special Meeting
shall be limited to the purpose stated in the valid Special Meeting Request; provided, however, that nothing herein shall prohibit
the Chairman, President </FONT>or the Secretary when directed to do so by resolution of the Board or the Secretary at the written
request of the Whole Board <FONT STYLE="font-family: Times New Roman, Times, Serif">from submitting matters to the stockholders
at any Stockholder Requested Special Meeting. If none of the Proposing Persons who submitted the Special Meeting Request appears
at or sends a qualified representative to the Stockholder Requested Special Meeting to present the matters to be presented for
consideration that were specified in the stockholder meeting request, the Company need not present such matters for a vote at such
meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">If a Special Meeting Request is made that complies with this Section&nbsp;1.3,
the Chairman, President </FONT>or the Secretary when directed to do so by resolution of the Board or the Secretary at the written
request of the Whole Board <FONT STYLE="font-family: Times New Roman, Times, Serif">may (in lieu of calling the Stockholder Requested
Special Meeting) present a Similar Item for stockholder approval at any other meeting of stockholders that is held within one hundred
twenty (120) days after the Company receives such Special Meeting Request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Any Proposing Person may revoke a Special Meeting Request by written
revocation delivered to, or mailed and received by, the Secretary at any time prior to the date of the Stockholder Requested Special
Meeting. In the event any revocation(s) are received by the Secretary after the Secretary&rsquo;s receipt of a valid Special Meeting
Request(s) from the holders of the Requisite Percentage of stockholders or any Special Meeting Request is deemed to be revoked
as a result of Section&nbsp;1.3(a)(i), and as a result of such revocation(s), there no longer are valid unrevoked Special Meeting
Request(s) from the Requisite Percentage of stockholders to call a special meeting, the Chairman, President </FONT>or the Secretary
when directed to do so by resolution of the Board or the Secretary at the written request of the Whole Board <FONT STYLE="font-family: Times New Roman, Times, Serif">shall
have the discretion to determine whether or not to proceed with the Stockholder Requested Special Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding anything in these Bylaws to the contrary, the Secretary
shall not be required to call a special meeting except in accordance with this Section&nbsp;1.3. If the Chairman shall determine
that any Special Meeting Request was not properly made in accordance with these Bylaws, or shall determine that the stockholder
or stockholders submitting such Special Meeting Request have not otherwise complied with these Bylaws, then the </FONT>Chairman
<FONT STYLE="font-family: Times New Roman, Times, Serif">shall not be required to take any action in connection with the Stockholder
Requested Special Meeting, and the Secretary shall not be required to call such meeting. In addition to the requirements of this
Section&nbsp;1.3, each Proposing Person shall comply with all requirements of applicable law, including all requirements of the
Exchange Act, with respect to any request to fix a Special Meeting Request.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">In connection with a Stockholder Requested Special Meeting called
in accordance with this Section&nbsp;1.3, each Proposing Person that signed and delivered a Special Meeting Request shall further
update and supplement the information previously provided to the Company in connection with such request, if necessary, so that
the information provided or required to be provided in such request pursuant to this Section&nbsp;1.3 shall be true and correct
(i) as of the record date for notice of the Stockholder Requested Special Meeting and (ii) as of the date that is ten (10) business
days prior to the Stockholder Requested Special Meeting or any adjournment or postponement thereof. Such updates and supplements
shall be delivered to, or mailed and received by, the Secretary at the principal executive office of the Company 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 Stockholder Requested Special Meeting or any adjournment or postponement thereof).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Any special meeting of stockholders, including any Stockholder
Requested Special Meeting, shall be held at such date and time as may be fixed by the Board in accordance with these Bylaws and
in compliance with applicable law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Manner of Giving Notice</U>. Notice of any annual or special meeting of the stockholders shall be given either personally,
by electronic transmission in the manner provided in Section&nbsp;232 of the DGCL, by mail to each stockholder of record entitled
to vote at such meeting, or in the manner provided in Section&nbsp;7.2 of these Bylaws. If mailed, such notice shall be deemed
to be given when deposited in the United States mail with postage thereon prepaid, addressed to the stockholder at his or her
address as it appears on the stock transfer books of the Company. If given by electronic transmission, such notice shall be deemed
to be given at the times provided in the DGCL or in Section&nbsp;7.2 of these Bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Director Nominations</U>. (a)&nbsp;Nominations of any person for election to the Board may be made only (i)
by or at the direction of the Board or (ii) by any stockholder who (A) was a stockholder of record of the Company (and, with respect
to any beneficial owner, if different from stockholder of record, on whose behalf such nomination is proposed to be made, only
if such beneficial owner was the beneficial owner of shares of the Company) both at the time of giving the notice provided for
in Section&nbsp;1.5(b) and at the time of the meeting or at the time of providing written consent in lieu of a meeting, (B) is
entitled to vote at the meeting or act by written consent in lieu of a meeting, and (C) has complied with this Section&nbsp;1.5
as to such nomination. The foregoing clause (ii) shall be the exclusive means for a stockholder to make any nomination of a person
for election to the Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Without qualification, for a stockholder to make any nomination
of a person for election to the Board at an annual meeting, the stockholder must (i)&nbsp;deliver timely notice thereof in writing
and in proper form to the Secretary at the principal executive office of the Company and (ii)&nbsp;provide any updates and supplements
to such notice at the times and in the forms required by Section&nbsp;1.5(e). To be timely, a stockholder&rsquo;s notice for nomination(s)
to be made at an annual meeting must be delivered to the Secretary at the principal executive office of the Company not less than
ninety (90) days nor more than one hundred twenty (120) 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 stockholder, to be timely, must be so delivered not earlier than the one hundred
twentieth (120th) day prior to the date of such annual meeting and not later than the later of the ninetieth (90th) day prior to
the date of such annual meeting or the tenth (10th) day following the day on which Public Disclosure of the date of such annual
meeting was first made by the Company. Without qualification, if the election of directors is a matter specified in the Company&rsquo;s
notice of a special meeting given by or at the direction of (i) the Chairman, President </FONT>or the Secretary when directed to
do so by resolution of the Board, (ii) the Secretary at the written request of the Whole Board, or (iii) the Secretary upon receipt
of the Special Meeting Request<FONT STYLE="font-family: Times New Roman, Times, Serif">, as the case may be, then for a stockholder
(other than the Requisite Percentage of stockholders) to make any nomination of a person or persons (as the case may be) for election
to such position(s) as specified in the Company&rsquo;s notice of meeting, such stockholder must (i) deliver timely notice thereof
in writing and in proper form to the Secretary at the principal executive office of the Company and (ii) provide any updates and
supplements to such notice at the times and in the forms required by Section&nbsp;1.5(e). To be timely, a stockholder&rsquo;s (other
than the Requisite Percentage of stockholders) notice for nomination(s) to be made at a special meeting must be delivered to the
Secretary at the principal executive office of the Company not earlier than the one hundred twentieth (120th) day prior to the
date of such special meeting and not later than the later of the ninetieth (90th) day prior to the date of such special meeting
or the tenth (10th) day following the day on which Public Disclosure of the date of such special meeting was first made by the
Company. Without qualification, if the Requisite Percentage of stockholders seeks to make any nomination of a person for election
to the Board at a special meeting, such stockholder representing the Requisite Percentage must (i) concurrently with delivery of
the Special Meeting Request, deliver notice thereof in writing and in proper form to the Secretary at the principal executive office
of the Company and (ii) provide any updates and supplements to such notice at the times and in the forms required by Section&nbsp;1.5(e).
In no event shall any adjournment of an annual or special meeting or the announcement thereof, commence a new time period (or extend
the time period) for the giving of a stockholder&rsquo;s notice as described above. The Board, by a majority vote of the Whole
Board, may extend to a later date or waive the time periods set forth in this Section 1.5(b) for timely delivery of a stockholder&rsquo;s
notice for nomination(s) to be made at an annual meeting or special meeting.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">To be in proper form for purposes of this Section&nbsp;1.5, a stockholder&rsquo;s
notice for nominations to be made shall:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each Nominating Person, set forth the same stockholder information
required to be provided in Section&nbsp;1.2(c)(i) or Section&nbsp;1.3(a)(i) as applicable, except that, for purposes of this Section&nbsp;1.5(c)(i),
the term &ldquo;</FONT><U>Nominating Person</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo; shall be substituted
for the term &ldquo;</FONT><U>Proposing Person</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo; in all places
it appears in Section&nbsp;1.2(c)(i) or Section&nbsp;1.3(a)(i) as applicable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>As to each Nominating Person, set forth any Disclosable Interests, except that, for purposes of this Section&nbsp;1.5(c)(ii),
the term &ldquo;<U>Nominating Person</U>&rdquo; shall be substituted for the term &ldquo;<U>Proposing Person</U>&rdquo; in all
places it appears in Section&nbsp;1.2(c)(iv)(C) and <FONT STYLE="font-family: Times New Roman, Times, Serif">any other information
relating to such Nominating 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 by such Nominating Person with respect to the election of directors at the</FONT> meeting
pursuant to Section&nbsp;14(a) of the Exchange Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">As to each person whom a Nominating Person proposes to nominate
for election as a director, set forth (A) all information with respect to such proposed nominee that would be required to be set
forth in a stockholder&rsquo;s notice pursuant to this Section&nbsp;1.5(c) if such proposed nominee were a Nominating Person, (B)
all information relating to such proposed nominee that is required to be disclosed in a proxy statement or other filings required
to be made in connection with solicitations of proxies for election of directors in a contested election pursuant to Section&nbsp;14(a)
under the Exchange Act (including such proposed nominee&rsquo;s written consent to being named in the proxy statement as a nominee
and to serving as a director if elected), and (C) a description of any material relationships, between or among any Nominating
Person, on the one hand, and each proposed nominee or any of his or her respective affiliates and associates, 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 proposed nominee were a director
or executive officer of such registrant; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">With respect to each nominee for election or reelection to the
Board, include a completed and signed questionnaire, representation and agreement as required by Section&nbsp;1.6.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 48.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company may require any proposed nominee
to furnish such other information (i) as may reasonably be required by the Company to determine the eligibility of such proposed
nominee to serve as a director of the Company or (ii) that could be material to a reasonable stockholder&rsquo;s understanding
of the eligibility, of such proposed nominee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">For purposes of this Section&nbsp;1.5, the term &ldquo;</FONT><U>Nominating
Person</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo; shall mean (i) the stockholder providing the notice
of the nomination proposed to be made, (ii) the beneficial owner or beneficial owners, if different from the stockholder of record,
on whose behalf the notice of the nomination proposed to be made is made and (iii) any affiliate or associate of such stockholder
or beneficial owner.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">A Nominating Person 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 shall be true and correct (i) as of the record date for the meeting and (ii) as of the date that
is ten (10) business days prior to the meeting or any adjournment or postponement thereof. Such updates and supplements shall be
delivered to the Secretary at the principal executive office of the Company not later than five (5) business days after the record
date for the meeting (in the case of the update and supplement required to be made as of the 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).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding anything in these Bylaws to the contrary, no person
shall be eligible for election as a director of the Company unless nominated in accordance with this Section&nbsp;1.5.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Submission of Questionnaire, Representation and Agreement</U>. To be eligible to be a nominee for election or reelection
as a director of the Company, a proposed nominee must deliver (in accordance with the time periods prescribed for delivery of a
stockholder&rsquo;s notice under Section&nbsp;1.5(b)), to the Secretary at the principal executive office of the Company a written
questionnaire with respect to the background and qualification of such proposed nominee (which questionnaire shall be provided
by the Secretary upon written request), and a written representation and agreement (in form provided by the Secretary upon written
request) that such proposed nominee (i) is not and will not become a party to (A) any agreement, arrangement or understanding with,
and has not given any commitment or assurance to, any person as to how such proposed nominee, if elected as a director of the Company,
will act or vote on any issue or question (a &ldquo;<U>Voting Commitment</U>&rdquo;) that has not been fully disclosed to the Company
or (B) any Voting Commitment that could limit or interfere with such proposed nominee&rsquo;s ability to comply, if elected as
a director of the Company, with such proposed nominee&rsquo;s fiduciary duties under applicable law, (ii) is not, and will not
become a party to, any agreement, arrangement or understanding with any person other than the Company with respect to any direct
or indirect compensation, reimbursement or indemnification in connection with service or action as a director of the Company that
has not been fully disclosed to the Company, and (iii) in such proposed nominee&rsquo;s individual capacity and on behalf of any
person on whose behalf the nomination is made, would be in compliance, if elected as a director of the Company, and will comply,
with the Company&rsquo;s Corporate Governance Guidelines and Code of Conduct and Business Ethics, including all applicable, publicly
disclosed conflict of interest, confidentiality, stock ownership and insider trading policies and guidelines of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General</U>. (a)&nbsp;&nbsp;Except as otherwise provided by law, the Certificate of Incorporation or these Bylaws, the
Chairman of any annual or special meeting of the stockholders shall have the power and duty to determine whether any nomination
to be made at, or any other business proposed to be brought before, the meeting has been made, proposed or brought, as the case
may be, in compliance with these Bylaws and, if any such nomination or other proposed business is not in compliance with these
Bylaws, to declare that such defective nomination or proposal of other business shall be disregarded.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding anything in these Bylaws to the contrary, a Nominating
Person giving notice of a nomination to be made at, or a Proposing Person proposing any other business be brought before, an annual
or special meeting of the stockholders shall also comply with all applicable requirements of the Exchange Act with respect to such
nomination or business, as the case may be; provided, however, that any references in these Bylaws to the Exchange Act are not
intended to and shall not limit the separate and additional requirements set forth in these Bylaws with respect to nominations
or proposals of other business. Nothing in these Bylaws shall be deemed to affect any rights (i) of any stockholder to request
inclusion of proposals in the Company&rsquo;s proxy statement in accordance with Rule 14a-8 under the Exchange Act or (ii) of any
holder of any series of preferred stock of the Company if and to the extent provided under law, the Certificate of Incorporation
or these Bylaws. Subject to Rule 14a-8 under the Exchange Act, nothing in these Bylaws shall be construed to permit any stockholder,
or give any stockholder the right, to include or have disseminated or described in the Company&rsquo;s proxy statement any nomination
of a person for election to the Board or any proposal of other business.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Quorum</U>. Shares representing a majority of the votes entitled to be cast on a matter by all classes or series that
are entitled to vote thereon and be counted together collectively, represented in person or by proxy at any meeting of the stockholders,
shall constitute a quorum for the transaction or business thereat with respect to such matter, unless otherwise provided by law
or these Bylaws. In the absence of a quorum at any such meeting or any adjournment or adjournments thereof, the chairman of such
meeting or the holder of shares representing a majority of the votes cast on the matter of adjournment, either in person or by
proxy, may adjourn such meeting from time to time until a quorum is obtained. When a meeting is adjourned to another time or place,
notice need not be given of the adjourned meeting if the time and place thereof are announced at the meeting at which the adjournment
is taken. At any such adjourned meeting at which a quorum has been obtained, any business may be transacted that might have been
transacted at the meeting as originally called. If, however, the adjournment is for more than thirty (30) days, or if after the
adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder
of record entitled to vote at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Required Vote</U>. (a)&nbsp;&nbsp;Whenever any corporate action is to be taken by vote of stockholders at a meeting,
it shall, except as otherwise required by law or by the Certificate of Incorporation or by these Bylaws, be authorized by a majority
of the votes cast at the meeting by the holders of stock entitled to vote thereat, provided that, with respect to the election
of directors, if the number of nominees exceeds the number of directors to be elected, the directors shall be elected by the vote
of a plurality of the votes cast. For purposes of this Section&nbsp;1.9(a), &ldquo;<U>a majority of the votes cast</U>&rdquo; with
respect to the election of directors means that the number of votes cast for a director&rsquo;s election exceeds fifty percent
of the number of votes cast with respect to that director&rsquo;s election. If a nominee for director who is an incumbent director
is not elected at such meeting, the director shall offer to tender his or her resignation to the Board. The Nomination Committee,
if any, shall make a recommendation to the Board on whether to accept or reject the resignation, or whether other action should
be taken. The Board will act on the Nomination Committee&rsquo;s recommendation and disclose its decision and the rationale behind
it within ninety (90) days from the date of the certification of the election results. The director who tenders his or her resignation
will not participate in the Board&rsquo;s decision.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as otherwise provided by law or by the Certificate of Incorporation, each holder of record of stock of the Company
entitled to vote on any matter shall be entitled to one vote for each share of capital stock standing in the name or such holder
on the stock ledger of the Company on the record date for the determination of the stockholders entitled to vote on such matters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>For purposes of these Bylaws, a share present at a meeting, but for which there is an abstention or broker nonvote on a
particular matter shall be counted as present for the purpose of establishing a quorum but shall not be counted as a vote cast
on the matter in question.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stockholder Action by Written Consent</U>. The provisions of this Section&nbsp;1.10 shall govern any action taken by
the stockholders by consent in writing without a meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In order that the Company may determine the stockholders entitled to consent to corporate action in writing without a meeting,
the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date
is adopted by the Board, and 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. No stockholder shall be entitled to act by written consent unless a stockholder of record
first, by written notice delivered to the <FONT STYLE="font-family: Times New Roman, Times, Serif">Secretary at the principal executive
office of the Company</FONT>, requests that the Board fix a record date. The Board shall promptly, but in all events within ten
(10) days after the date on which such written notice is received, adopt a resolution fixing the record date (unless a record date
has previously been fixed by the Board pursuant to the first sentence of this Section&nbsp;1.10(a)). If no record date has been
fixed by the Board pursuant to the first sentence of this Section&nbsp;1.10(a) or otherwise within ten (10) days after the date
on which such written notice is received, the record date for determining stockholders entitled to consent to corporate action
in writing without a meeting, when no prior action by the Board is required by applicable law, shall be the first date after the
expiration of such ten (10) day time period on which a signed written consent setting forth the action taken or proposed to be
taken is delivered to the <FONT STYLE="font-family: Times New Roman, Times, Serif">Secretary at the principal executive office
of the Company</FONT>. If no record date has been fixed by the Board pursuant to the first sentence of this Section&nbsp;1.10(a),
the record date for determining stockholders entitled to consent to corporate action in writing without a meeting if prior action
by the Board is required by applicable law shall be at the close of business on the date on which the Board adopts the resolution
taking such prior action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event of the delivery, in the manner provided by this Section&nbsp;1.10 and applicable law, to the Company of a signed
written consent or consents to take corporate action and/or any related revocation or revocations, the Company shall engage independent
inspectors of elections for the purpose of performing promptly a ministerial review of the validity of the consents and revocations.
For the purpose of permitting the inspectors to perform such review, no action by written consent and without a meeting shall be
effective until such inspectors have completed their review, determined that the requisite number of valid and unrevoked consents
delivered to the Company in accordance with this Section&nbsp;1.10 and applicable law have been obtained to authorize or take the
action specified in the consents, and certified such determination for entry in the records of the Company kept for the purpose
of recording the proceedings of meetings of stockholders. The action by written consent and without a meeting will take effect
as of the date and time of the certification of the written consents and will not relate back to the date the written consents
to take the corporate action were delivered to the Company. In the event that the action by written consent and without a meeting
elects a director or directors to the Board, such newly elected director or directors shall take office and have the authority
of a director conferred upon them as of the date and time of the certification, and not the date of delivery to the Company, of
the written consents. In the event that the action by written consent and without a meeting replaces a director or directors on
the Board of Directors, the authority of such replaced director or directors shall continue until the date and time of the certification
of the written consents. Nothing contained in this Section&nbsp;1.10(b) shall in any way be construed to suggest or imply that
the Board or any stockholder shall not be entitled to contest the validity of any consent or revocation thereof, whether before
or after such certification by the independent inspectors, or to take any other action (including, without limitation, the commencement,
prosecution or defense of any litigation with respect thereto, and the seeking of injunctive relief in such litigation).</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Every written consent shall bear the date of the signature of each stockholder 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&nbsp;1.10, a valid written consent or valid written consents signed by a sufficient number of
stockholders to take such action are delivered to the Company in the manner prescribed in this Section&nbsp;1.10 and applicable
law, and not revoked.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Proxies, Written Authorization and Electronic Authorization</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each stockholder entitled to vote at a meeting of stockholders or to express consent or dissent to corporate action in writing
without a meeting may authorize another person or persons to act for such stockholder by proxy but no such proxy shall be voted
or acted upon after three (3) years from its date, unless the proxy provides for a longer period. Every proxy shall be signed by
the stockholder or by such stockholder&rsquo;s duly authorized attorney. A proxy that does not bear a date shall be deemed to be
dated the date it was first delivered to one or more of the persons named to act under such proxy.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A stockholder or a stockholder&rsquo;s duly authorized attorney-in-fact may authorize another person or persons to act for
him as proxy by executing a writing authorizing such person or persons to act as such proxy. Execution may be accomplished by the
stockholder or such stockholder&rsquo;s duly authorized attorney-in-fact or authorized officer, director, employee or agent signing
such writing or causing such stockholder&rsquo;s signature to be affixed to such writing by any reasonable means including, but
not limited to, by facsimile signature.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Secretary may approve procedures to enable a stockholder or a stockholder&rsquo;s duly authorized attorney-in-fact to
authorize another person or persons to act for him as proxy by transmitting or authorizing the transmission of a telegram, cablegram,
internet transmission, telephone transmission or other means of electronic transmissions to the person who will be the holder of
the proxy or to a proxy solicitation firm, proxy support service organization or like agent duly authorized by the person who will
be the holder of the proxy to receive such transmission, provided that any such transmission must either set forth or be submitted
with information from which the judges or inspectors of election can determine that the transmission was authorized by the stockholder
or the stockholder&rsquo;s duly authorized attorney-in-fact. If it is determined that such transmissions are valid, the judges
or inspectors shall specify the information upon which they relied. Any copy, facsimile telecommunication or other reliable reproduction
of the writing or transmission created pursuant to this Section&nbsp;1.11(c) may be substituted or used in lieu of the original
writing or transmission for any and all purposes for which the original writing or transmission could be used, provided that such
copy, facsimile telecommunication or other reproduction shall be a complete reproduction of the entire original writing or transmission.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Lists of Stockholders</U>. (a)&nbsp;The officer who has charge of the stock ledger of the Company shall prepare and make,
at least ten (10) days before every meeting of stockholders, a complete list of the stockholders entitled to vote at the meeting,
arranged in alphabetical order and showing the address of each stockholder and the number of shares registered in such stockholder&rsquo;s
name. Such list shall be open to the examination of any stockholder entitled to vote at the meeting, for any purpose germane to
the meeting, during ordinary business hours, for a period of at least ten (10) days prior to the meeting, either at a place within
the city where the meeting is to be held, which place shall be specified in the notice of the meeting, or, if not so specified,
at the place where the meeting is to be held. The list shall also be produced and kept at the time and place of the meeting during
the whole time thereof, and may be inspected by any stockholder entitled to vote at the meeting who is present.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The stock ledger shall be the only evidence as to who are the stockholders entitled to examine the stock ledger, the list
required by this Section&nbsp;1.12 or the books or the Company, or to vote in person or by proxy at any meeting of stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>One or more judges or inspectors of election for any meeting of stockholders may be appointed by the Chairman of such meeting,
for the purpose of receiving and taking charge of proxies and ballots and deciding all questions as to the qualification of voters,
the validity of proxies and ballots and the number of votes properly cast.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.13<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stockholder Record Date</U>. (a)&nbsp;&nbsp;Except as provided otherwise under Section&nbsp;1.10, in order that the Company
may determine the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or entitled
to receive payment of any dividend or other distribution or allotment of any rights, or entitled to exercise any rights in respect
of any change, conversion or exchange or stock, or for the purpose of any other lawful action, the Board may fix, in advance, a
record date, which shall not be more than <FONT STYLE="font-family: Times New Roman, Times, Serif">sixty (60)</FONT> days nor less
than ten (10) days before the date of such meeting, nor more than <FONT STYLE="font-family: Times New Roman, Times, Serif">sixty
(60)</FONT> days prior to any other action. Only such stockholders as shall be stockholders of record on the date so fixed shall
be entitled to notice of, and to vote at, such meeting and any adjournment thereof, or to receive payment of such dividend or other
distribution, or to exercise such rights in respect of any such change, conversion or exchange of stock, or to participate in such
action, as the case may be, notwithstanding any transfer of any stock on the books of the Company after any record date so fixed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as provided otherwise under Section&nbsp;1.10, if no record date is fixed by the Board, (i)&nbsp;the record date
for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on
the day next preceding the date on which notice is given, and (ii)&nbsp;the record date for determining stockholders for any other
purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any
adjournment of the meeting; provided, however, that the Board may fix a new record date for the adjourned meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;1.14<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Presiding Officer and Secretary</U>. The Board may designate the person who shall act as chairman of any meeting of the
stockholders. Unless the Board shall designate a different chairman of the meeting, at all meetings of the stockholders, the Chairman
of the Board or, in the Chairman&rsquo;s absence, the Chief Executive Officer, or in the Chief Executive Officer&rsquo;s absence,
the President, or in the President&rsquo;s absence, the Executive Vice President shall act as chairman of the meeting. In the absence
of all of the foregoing persons or in absence of a designation by the Board, a majority of the shares entitled to vote at such
meeting, may appoint any person to act as chairman of the meeting. The Secretary of the Company shall act as secretary at all meetings
of the stockholders. In the absence of the Secretary, the Chairman may appoint any person to act as secretary of the meeting. The
Chairman shall have the right and authority to prescribe such rules, regulations and procedures and to do all such acts and things
as are necessary or desirable for the proper conduct of the meeting, including without limitation, the establishment of procedures
for the dismissal of business not properly presented, the maintenance of order and safety, limitations on the time allotted to
questions or comments on the affairs of the Company, restrictions on entry to such meeting after the time prescribed for the commencement
thereof and the opening and closing of the voting polls.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
II<BR>
<BR>
Directors</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>General Powers</U>. Subject to the provisions of the DGCL and any limitations in the Certificate of Incorporation or
these Bylaws relating to action required to be approved by the stockholders, the business and affairs of the Company shall be managed,
and all corporate powers shall be exercised by or under the direction of, the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Number of Directors</U>. The number of directors constituting the Board shall be not more than fifteen (15) and not less
than three (3), the exact number of directors to be fixed from time to time exclusively by the Board pursuant to a resolution adopted
by a majority of the Whole Board. Directors need not be stockholders. No reduction in the total number of directors fixed from
time to time by the Board shall have the effect of removing any director before that director&rsquo;s term of office expires.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Term of Directors</U>. Directors shall be elected for terms at the annual meeting of stockholders in the year such terms
are to commence, except that after June&nbsp;30, 1995, directors whose terms of office have expired shall be elected at the annual
meeting of stockholders. Each director shall hold office until such director&rsquo;s successor is elected and qualified or until
such director&rsquo;s earlier resignation or removal for cause. If the annual election of directors is not held on the date designed
therefore, the directors shall cause such election to be held as soon thereafter as convenient. There shall be three (3) classes
of Directors; the number of Directors of each class shall be determined by the Board. These Directors are classified as Class I,
Class II and Class III. The term of a Class I director shall be for one (1) year. The term of a Class II director shall be for
two (2) years. The term of a Class III director shall be for three (3) years.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Vacancies and Newly Created Directorships</U>. Newly-created directorships resulting from any increase in the number
of directors and any vacancies on the Board resulting from death, resignation, retirement, disqualification, removal from office
or other cause shall be filled only by a majority vote of all the remaining directors, even though less than a quorum, or by a
sole remaining director, and not by the stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Resignation or Removal</U>. Any director may resign from office at any time either by oral tender of resignation at any
meeting to the Board or to the Chairman or by giving a written notice to the Secretary. Any such resignation shall take effect
at the time it specifies or, if the time is not specified, upon receipt, and the acceptance of such resignation, unless required
by its terms, shall not be necessary to make such resignation effective. Any director may be removed, only for cause, at any time,
by the holders of a majority of the then outstanding shares of stock of the Company entitled to vote at an election of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Meetings</U>. Meetings of the Board, regular or special, may be held at any place within or without the State of Delaware.
An annual meeting of the Board for the appointment of officers and the transaction of any other business shall be held immediately
following the annual meeting of stockholders at the same place at which such meeting shall have been held, and no notice thereof
need be given. If the meeting is not so held, the annual meeting of the Board shall take place as soon thereafter as is practicable,
either at the next regular meeting of the Board or at the special meeting. The Board may fix times and places for regular meetings
of the Board and no notice of such meetings need be given. A special meeting of the Board shall be held whenever called by the
Chairman or by any director (except that if more than one meeting shall be called by directors in any period of <FONT STYLE="font-family: Times New Roman, Times, Serif">one
hundred eighty (</FONT>180) days or less, each such meeting so called may be called only by a majority of the directors then in
office) at such time and place as shall be specified in the notice or waiver thereof. Notice of the place, date, and time of each
such special meeting shall be given to each director unless waived, by providing written notice not less than four (4) hours before
the scheduled time of such meeting. Unless otherwise indicated in the notice thereof, any and all business may be transacted at
a special meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Quorum and Voting</U>. One-third of the Whole Board of Directors shall constitute a quorum for the transaction of business
(except as otherwise provided by Section&nbsp;2.4 hereof), but in no event shall a quorum consist of less than two (2) directors.
If there be less than a quorum at any meeting of the Board, a majority of the directors present may adjourn the meeting from time
to time, and no further notice thereof need be given other than announcement at the meeting which shall be so adjourned. Except
as otherwise provided by law or by these Bylaws, 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Written Consents and Meetings by Telephone</U>. Any action required or permitted to be taken at any meeting of the Board
or any committee thereof may be taken without a meeting if all members of the Board or of such committee, as the case may be, consent
thereto in writing and the writing or writings are filed with the minutes of proceedings of the Board or committee. Members of
the Board or any committee designated by the Board may participate in a meeting of such Board or committee by means of conference
telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other, and
participation in a meeting pursuant to this sentence shall constitute presence in person at such meeting.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compensation</U>. Directors may receive compensation for services to the company in their capacities as directors or
otherwise in such manner and in such amounts as may be fixed from time to time by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;2.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>The &ldquo;Whole Board&rdquo;</U>. As used in these Bylaws, the term &ldquo;<U>the Whole Board</U>&rdquo; or &ldquo;<U>the
Whole Board of Directors</U>&rdquo; means the total number of directors which the Company would have if there were no vacancies.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
III<BR>
<BR>
Committees of the Board</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;3.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Appointment and Powers</U>. The Board may from time to time by resolution passed by a majority of the Whole Board, designate
an executive committee or such other committee or committees as it may determine, each committee to consist of one or more directors
of the Company. Any such committee, to the extent provided in the resolution, shall have and may exercise any of the powers and
authority of the Board in the management of the business and affairs of the Company, and may authorize the seal of the Company
to be affixed to all papers which may require it, all subject to the exceptions set forth in the DGCL. The Board 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 any member of any committee and of any alternate member designated by the
Board, the member or members present at any meeting and not disqualified from voting, whether or not such member or members constitute
a quorum, may unanimously appoint another member of the Board to act at the meeting in place of any such absent or disqualified
member. Any such committee may adopt titles governing the method of calling and time and place of holding its meetings. Unless
otherwise provided by the Board, a majority of any such committee shall constitute a quorum for the transaction of business, and
the act of a majority of the members of such committee present at the meeting at which a quorum is present shall be the act of
such committee. Each such committee shall keep a record of its acts and proceedings and shall report thereon to the Board whenever
requested so to do. Any or all members of any such committees may be removed, with or without cause, by resolution of the Board,
adopted by a majority of the Whole Board.</P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
IV<BR>
<BR>
Officers, Agents and Employees</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Appointment and Qualification</U>. The officers of the Company shall be a Chairman of the Board, a Chief Executive Officer,
a Chief Financial Officer, a President, a Treasurer and a Secretary, and may include one or more Vice Presidents, one or more Assistant
Treasurers and one or more Assistant Secretaries, all of whom shall be appointed by the Board. The Chairman shall be chosen from
among the directors. Any number of offices may be held by the same person. Each officer shall hold office until such officer&rsquo;s
successor is elected and qualified or until such officer&rsquo;s earlier resignation or removal. The Board may appoint, and may
delegate power to appoint, such other officers, agents and employees as it may deem necessary or proper, who shall hold office
for such period, have such authority and perform such duties as may from time to time be prescribed by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Removal of Officers, Agents or Employees</U>. Any officer, agent or employee of the Company may be removed by the Board
with or without cause at any time, and the Board may delegate such power of removal as in officers, agents and employees not appointed
by the Board. Such removal shall be without prejudice to such person&rsquo;s contract rights, if any, but the appointment of any
person as an officer, agent or employee of the Company shall not of itself create contract rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compensation and Bond</U>. The compensation of the officers of the Company shall be fixed by the Board, but this power
may be delegated to any officer in respect of the other officers under such officer&rsquo;s direction or control. The Company may
secure the fidelity of any or all of its officers, agents or employees by bond or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Chairman of the Board</U>. The Chairman of the Board shall be the senior Board member. The Chairman shall ensure that
the Board uses the best judgment and independent discretion, and is responsible for the determination and execution of corporate
policy, including supervision and vigilance for the welfare of the whole company. The Chairman shall preside at all meetings of
the stockholders and of the Board at which the Chairman is present. The Chairman shall have such powers and perform such duties
as generally pertain to the office of the Chairman of the Board, as well as such further powers and duties as may be prescribed
by the Board. The Chairman may vote the shares or other securities of any other domestic or foreign Company of any type or kind
which may at any time be owned by the Company, may execute any stockholder or other consent in respect thereof and may in the Chairman&rsquo;s
discretion delegate such powers by executing proxies, or otherwise, on behalf of the Company. The Board, by resolution from time
to time, may confer like other powers upon any other person or persons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Chief Executive Officer</U>. The Chief Executive Officer shall have general charge of the business and affairs of the
Company and shall keep the Board fully advised. The Chief Executive Officer shall employ and discharge employees and agents of
the Company, except such as shall be appointed by the Board, and the Chief Executive Officer may delegate these powers to the other
officers.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>President</U>. The President shall be the chief operating officer of the Company. The President shall employ and discharge
employees and agents of the Company, except such as shall be appointed by the Board, and the President may delegate these powers
to other officers. The President shall have such powers and perform such duties as generally pertain to the office of the President,
as well as such further powers and duties as may be prescribed by the Board. The Board, by resolution from time to time, may confer
like-other powers upon any other person or persons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.7<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Vice Presidents</U>. Each Vice President shall have such powers and perform such duties as the Board, the Chairman or
the President may from time to time prescribe. In the absence or inability to act of the President, unless the Board shall otherwise
provide, or unless there shall be in office an Executive Vice President (who shall have been determined by the Board to be senior
to all other Vice Presidents), the Vice President who has served in that capacity for the longest time and who shall be present
and able to act, shall perform all the duties and may exercise any of the powers of the President. The performance of any duty
by a Vice President shall, in respect of any other person dealing with the Company, be conclusive evidence of such Vice President&rsquo;s
power to act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.8<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Treasurer</U>. The Treasurer shall have charge of all funds and securities of the Company, shall endorse the same for
the deposit or collection when necessary and deposit the same to the credit of the Company in such banks or depositories as the
Board may authorize. The Treasurer may endorse all commercial documents requiring endorsements for or on behalf of the Company
and may sign all receipts and vouchers for payments made to the Company. The Treasurer shall have all such further powers and duties
as generally are incident to the position of Treasurer or as may be assigned to the Treasurer by the Chairman, the President or
the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.9<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assistant Treasurer</U>. In the absence or inability to act of the Treasurer, any Assistant Treasurer may perform all
the duties and exercise all the powers of the Treasurer. The performance of any such duty shall, in respect of any other person
dealing with the Company, be conclusive evidence of such Assistant Treasurer&rsquo;s power to act. An Assistant Treasurer shall
also perform such other duties as the Treasurer or the Board may assign to such person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.10<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Secretary</U>. The Secretary shall record all proceedings of meetings of the stockholders and directors in a book kept
for that purpose and shall file in such book all written consents of directors to any action taken without a meeting. The Secretary
shall attend to the giving and serving of all notice of the Company. The Secretary shall have custody of the seal of the Company
and shall attest the same by signature whenever required. The Secretary shall have charge of the stock ledger and such other books
and papers as the Board may direct, but may delegate responsibility for maintaining the stock ledger to any transfer agent appointed
by the Board. The Secretary shall have all such further powers and duties as generally are incident to the position of Secretary
or as may be assigned to the Secretary by the Chairman, the Chief Executive Officer, the President or the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.11<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Assistant Secretaries</U>. In the absence or inability to act of the Secretary, any Assistant Secretary may perform all
the duties and exercise all the powers of the Secretary. The performance of any such duty shall, in respect of any other person
dealing with the Company, be conclusive evidence of such Assistant Secretary&rsquo;s power to act. An Assistant Secretary shall
also perform such other duties as the Secretary or the Board may assign to such person.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;4.12<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Delegation of Duties</U>. In case of the absence of any officer or the Company, or for any other reason that the Board
may deem sufficient, the Board may confer for the time being the powers or duties, or any of them, of such officer upon any other
officer or upon any director.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
V<BR>
<BR>
Capital Stock</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;5.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Certificates</U>. The shares of stock of the Company may be represented by certificates; provided that, the Board may
provide by resolution or resolutions that some or all of any or all classes or series of the Company&rsquo;s stock shall be uncertificated
shares. Any such resolution shall not apply to shares represented by a certificate until such certificate is surrendered to the
Company. The certificates for shares of stock shall be in such forms as shall be approved from time to time by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">To the extent shares
are represented by a certificate, the certificate of stock shall be signed in the name of the Company by the Chairman, the President
or a Vice President and by the Treasurer or an Assistant Treasurer or the Secretary or an Assistant Secretary. Such certificates
may be sealed with the seal of the Company or a facsimile thereof, and shall contain such information as required by law to be
stated thereon. Any of or all of the signatures on the certificate may be a facsimile. In case any officer, transfer agent or registrar
who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent
or registrar before such certificate is issued, it may be issued by the Company with the same effect as if such person were such
officer, transfer agent or registrar at the date of the issue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;5.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transfers of Stock</U>. Shares of stock of the Company shall be transferrable upon the books of the Company by the holder,
in person or by duly authorized attorney, and on the surrender of the certificate or certificates for such stock properly endorsed
by the appropriate person or persons (or, with respect to uncertificated shares, by delivery of duly executed instructions or in
any other manner permitted by applicable law). Certificates representing such shares, if any, shall be cancelled and new certificates,
if the shares are to be certificated, shall thereupon be issued. Shares of capital stock of the Company that are not represented
by a certificate shall be transferred in accordance with applicable law. The Board shall have the power to make all such rules
or regulations, not inconsistent with the certificate of incorporation and these Bylaws, as the Board may deem appropriate concerning
the issue, transfer and registration of certificates or uncertificated shares for stock of the Company. The Board may appoint one
or more transfer agents or registrars of transfers, or both, and may require all stock certificates to bear the signature of either
or both, which signature or signatures may be in facsimile form if the Board by resolution authorizes such procedure.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;5.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Lost, Stolen or Destroyed Certificates</U>. The Company may issue a new certificate of stock, or uncertificated shares,
in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the Company may require
the owner of the lost, stolen or destroyed certificate or such owner&rsquo;s legal representative to give the Company a bond sufficient
to indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such
certificate or the issuance of any such new certificate or uncertificated shares. The Board may require such owner to satisfy other
reasonable requirements.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
VI<BR>
<BR>
Seal</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;6.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Seal</U>. The seal of the Company shall consist of a flat-faced circular die with the name of the Company in a circle
and the word &ldquo;Delaware&rdquo; and the year of its incorporation in the center. Such seal may be used by causing it or a facsimile
thereof to be impressed or affixed or in any other manner reproduced.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;7.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Meetings</U>. Except as otherwise required by law or by the Certificate of Incorporation, notice of each annual
or special meeting of the stockholders, specifying the place, if any, date and time of the meeting, and the means of remote communications,
if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such meeting, shall be given not
less than ten (10) days nor more than sixty (60) days before the date on which the meeting is to be held, to each stockholder entitled
to vote at such meeting. Notice of a special meeting of the stockholders shall also state the purpose or purposes for which the
meeting is called.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;7.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U>. (a)&nbsp;&nbsp;Whenever notice is required to be given to any stockholder, director, officer, or agent,
such requirement shall not be construed to mean personal notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Whenever notice is required to be given to any stockholder, such notice may in every instance be effectively given by regular
or expedited United States mail, recognized courier service for overnight delivery, telegram, cable, telex, or telecopier, facsimile
transmission, or by electronic mail or other electronic transmission (if such stockholder has consented to such form of electronic
transmission) addressed to such stockholder at his or her address as the same appears on the books of the Company, including an
electronic mail address at which the stockholder has consented to receive notice. Notice shall be deemed given (i) if by facsimile
telecommunication, when directed to the number at which the stockholder has consented to receive notice, (ii) if by electronic
mail, when directed to an electronic mail address at which the stockholder has consented to receive notice, (iii) if by a posting
on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (A) such
posting and (B) the giving of such separate notice, and (iv) all other instances, when such notice is dispatched.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any notice required to be given to any director may be given by any of the methods in Section&nbsp;7.2(b). Any such notice,
other than one which is delivered personally, shall be sent to such post office address, facsimile number, or electronic mail address
as such director shall have filed in writing with the Secretary of the Company, or, in the absence of such filing, to the last
known such address or number of such director. It shall not be necessary that the same method of giving notice be employed in respect
of all directors, but one (1) permissible method may be employed in respect of any one or more, and any other permissible method
or methods may be employed in respect of any other or others.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;7.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Waiver of Notice</U>. Whenever notice is required to be given by statute, or under any provision of the Certificate of
Incorporation or these Bylaws, a written waiver thereof, signed by the person entitled to notice, whether before or after the time
stated therein shall be deemed equivalent to notice. In the case of a stockholder, such waiver of notice may be signed by such
stockholder&rsquo;s attorney or a proxy duly appointed in writing. Attendance of a stockholder at a meeting of stockholders, or
attendance or a director at a meeting of the Board or any committee thereof, shall constitute a waiver of notice of such meeting,
except when such stockholder or director, as the case may be, attends a meeting for the express purpose of objection, at the beginning
of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business
to be transacted at, nor the purpose of any regular or special meetings of the stockholders, directors, or members of a committee
of directors need to be specified in any written waiver of notice.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
VIII<BR>
<BR>
Indemnification</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification</U>. The Company shall indemnify each director, officer, employee and agent of the Company who is a natural
person, such person&rsquo;s heirs, executors and administrators (whether or not natural persons) and all other natural persons
whom the Company is authorized to indemnify under the provisions of the DGCL (including but not limited to a person who is or was
serving at the request of the Company as a director, officer, partner, trustee, employee or agent (or in a like capacity) of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise), to the fullest extent permitted by
law, (i)&nbsp;against all expenses (including but not limited to attorneys&rsquo; and other experts&rsquo; fees and disbursements),
judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any actual or
threatened action, suit or other proceeding, whether civil, criminal, administrative, investigative or an arbitration, or in connection
with any appeal therein, or otherwise, and (ii)&nbsp;against all expenses (including but not limited to attorneys&rsquo; and other
experts&rsquo; fees and disbursements) actually and reasonably incurred by such person in connection with the defense or settlement
of any action, suit or other proceeding by or in the right of the Company, or in connection with any appeal therein, or otherwise;
and no provision of these Bylaws is intended to be construed as limiting, prohibiting, denying or abrogating any of the general
or specific powers or rights conferred under the DGCL upon the Company to furnish, or upon any court to award, such indemnification,
or such other indemnification as may otherwise be authorized pursuant to the DGCL or any other law now or hereafter in effect,
including but not limited to indemnification of any employees or agents of the Company or of another corporation partnership, joint
venture, trust, employee benefit plan or other enterprise; provided, however, that, except with respect to an action, suit or other
proceeding to enforce the indemnification and advancement rights provided under these Bylaws, the Company shall indemnify any such
relevant person in connection with an action, suit or other proceeding (or part thereof) initiated by such person only if such
action, suit or other proceeding (or part thereof) initiated by such person was authorized or ratified by the Board. The term &ldquo;<U>proceeding</U>&rdquo;
shall be understood to include any inquiry or investigation that could lead to a proceeding. The indemnification provided for herein
shall not be deemed exclusive of any other rights to which a person seeking indemnification may be entitled and shall continue
as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of such person&rsquo;s
heirs, executors and administrators.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.2<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Determinations</U>. If and to the extent such indemnification shall require a determination whether or not the relevant
person met the applicable standard of conduct set forth in the DGCL, such determination shall be made expeditiously at the cost
of the Company after a written request to the Secretary for the same from the person seeking indemnification. A person&rsquo;s
entitlement to indemnification shall be determined either by (i) a majority vote of directors not a party to the proceeding in
respect of which indemnification is sought, whether or not they constitute a quorum of the Board or (ii) independent legal counsel.
If indemnification is to be given upon a determination by independent legal counsel, such counsel may be the regular counsel to
the Company. In rendering such opinion, such counsel shall be entitled to rely upon statements of fact furnished to them by persons
reasonably believed by them to be credible, and such counsel shall have no liability or responsibility for the accuracy of the
facts so relied upon, nor shall such counsel have any liability for the exercise of their own judgment as to matters of fact or
law forming a part of the process of providing such opinion. The fees and disbursements of counsel engaged to render such opinion
shall be paid by the Company whether or not such counsel ultimately are able to render the opinion that is the subject of their
engagement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.3<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Business Combinations</U>. Unless the Board shall determine otherwise with reference to a particular merger or consolidation
or other business combination, for the purpose of this Article&nbsp;VIII references to &ldquo;the Company&rdquo; shall include,
in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in
a merger or consolidation or other business combination which, if its separate existence had continued, would have had power and
authority to indemnify its directors, officers, employees or agents, so that any person who is or was a director, officer, employee
or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer,
partner, trustee, employee, agent (or in a like capacity) of another corporation, partnership, joint venture, trust, employee benefit
plan or other enterprise, shall stand in the same position under the provisions of this Article&nbsp;VIII with respect to the resulting
or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.4<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Advances of Expenses</U>. If any director or officer of the Company who may be entitled to indemnification hereunder
shall request that such person&rsquo;s expenses actually and reasonably incurred in connection with any action, suit, proceeding,
arbitration or investigation or appeal therein be paid by the Company in advance of the final disposition thereof, the Company
shall pay such expenses in advance of the final disposition thereof upon receipt of an undertaking by or on behalf of such director
or officer to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the
Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.5<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Employee Benefit Plans</U>. References herein to &ldquo;fines&rdquo; shall include any excise taxes assessed on a person
with respect to an employee benefit plan; and references to &ldquo;serving at the request of the Company&rdquo; shall include any
service as a corporation agent which imposes duties on, or involves services by, the corporate agent with respect to an employee
benefit plan, its participants, or beneficiaries. A person who acted in good faith and in a manner such person reasonably believed
to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner
not opposed to the best interests of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;8.6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Insurance</U>. <FONT STYLE="font-size: 10pt">T</FONT>he Company may purchase and maintain insurance to protect itself
and each director, officer, employee and agent of the Company and all other natural persons whom the Company is authorized to indemnify
against any expenses (including but not limited to attorneys&rsquo; and other experts&rsquo; fees and disbursements), judgments,
fines and amounts paid in settlement, as specified in Section&nbsp;8.1, or incurred by any such director, officer, employee or
agent in connection with any proceeding referred to in Section&nbsp;8.1, whether or not the Company would have the power to indemnify
such person against such expense, liability or loss under the DGCL. The Company may enter into contracts with any director, officer,
employee or agent of the Company in furtherance of the provisions of this Article VIII and may create a trust fund, grant a security
interest or use other means (including, without limitation, a letter of credit) to ensure the payment of such amounts as may be
necessary to effect indemnification as provided or authorized in this Article VIII.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
IX<BR>
<BR>
General Matters</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;9.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Forum for Adjudication of Disputes</U>. (a)&nbsp;Unless the Company consents in writing to the selection of an alternative
forum, the sole and exclusive forum for (i)&nbsp;any derivative action or proceeding brought on behalf of the Company, (ii)&nbsp;any
action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Company to the Company
or the Company&rsquo;s stockholders, (iii)&nbsp;any action asserting a claim arising pursuant to any provision of the DGCL or the
Certificate of Incorporation or these Bylaws, (iv)&nbsp;any action to interpret, apply, enforce or determine the validity of the
Certificate of Incorporation or these Bylaws or (v)&nbsp;any action asserting a claim governed by the internal affairs doctrine
shall be the Court of Chancery of the State of Delaware, or, if the Court of Chancery of the State of Delaware does not have jurisdiction,
the Superior Court of the State of Delaware, or, if the Superior Court of the State of Delaware does not have jurisdiction, the
United States District Court for the District of Delaware. Any person purchasing or otherwise acquiring any interest in shares
of stock of the Company shall be deemed to have notice of and consented to the provisions of this Section&nbsp;9.1.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">If any action the subject matter of which is within the scope of
Section&nbsp;9.1(a) above is filed in a court other than the Court of Chancery of the State of Delaware, the Superior Court of
the State of Delaware or the United States District Court for the District of Delaware (a &ldquo;</FONT><U>Foreign Action</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;)
in the name of any stockholder, such stockholder shall be deemed to have consented to (i) the personal jurisdiction of the Court
of Chancery of the State of Delaware, the Superior Court of the State of Delaware and the United States District Court for the
District of Delaware in connection with any action brought in any such courts to enforce Section&nbsp;9.1(a) above (an &ldquo;</FONT><U>Enforcement
Action</U><FONT STYLE="font-family: Times New Roman, Times, Serif">&rdquo;) and (ii) having service of process made upon such stockholder
in any such Enforcement Action by service upon such stockholder&rsquo;s counsel in the Foreign Action as agent for such stockholder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">If any provision or provisions of this Section&nbsp;9.1 shall be
held to be invalid, illegal or unenforceable as applied to any person or circumstance for any reason whatsoever, then, to the fullest
extent permitted by law, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining
provisions of this Section&nbsp;9.1 (including, without limitation, each portion of any sentence of this Section&nbsp;9.1 containing
any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable)
and the application of such provision to other persons and circumstances shall not in any way be affected or impaired thereby.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">ARTICLE
X<BR>
<BR>
Amendments</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Section&nbsp;10.1<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Amendments</U>. These Bylaws or any of them may be altered, amended or repealed, and new Bylaws may be adopted, at any
annual meeting of the stockholders, or at any special meeting of the stockholders called for that purpose, by a vote of a majority
of the voting power of the shares represented and entitled to vote thereat. The Board shall also have the power, by a majority
vote of the Whole Board, to alter or amend or repeal the Bylaws or to adopt new Bylaws; provided that (i)&nbsp;any such action
of the Board may be amended or repealed by the stockholders at any annual meeting or any special meeting called for that purpose,
(ii)&nbsp;the Board shall not have the power to alter or amend or repeal a specified Bylaw if such Bylaw is adopted by the stockholders
and contains an express provision that such Bylaw may be altered or amended or repealed only by action of the stockholders and
(iii)&nbsp;Article&nbsp;VIII hereof may be altered or amended by the Board to increase the indemnification of the persons referred
to therein to the extent permitted by law, but such Article may be otherwise altered, amended or repealed only by action of the
stockholders as provided above and in that connection, any repeal, amendment or alteration which reduces or limits the indemnification
of the person therein shall apply prospectively.</P>



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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>tv523557_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="margin: 0">&nbsp;<IMG SRC="logo.jpg" ALT=""></P>

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Medifast, Inc. Announces Quarterly Dividend</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BALTIMORE, Md., June 13, 2019/PRNewswire/
-- <U>Medifast, Inc.</U> (NYSE: MED), a leading manufacturer and distributor of clinically proven programs and healthy living products,
announced today that its Board of Directors has declared a $0.75 cash dividend to its stockholders. The quarterly cash dividend
of $0.75 per share is payable on August 7, 2019 to stockholders of record as of the close of business on June 28, 2019.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company expects to maintain a program
of paying dividends on a quarterly basis. However, the declaration of dividends in the future is subject to the discretion of the
company&rsquo;s Board of Directors, who will evaluate the company's dividend program from time to time based on factors that it
deems relevant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About<FONT STYLE="color: windowtext">&nbsp;Medifast<SUP>&reg;</SUP></FONT>:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Medifast (NYSE: MED) is a leading manufacturer
and distributor of clinically proven, healthy living products and programs. The brand has been recommended by more than 20,000
doctors since its founding. Its integrated coach model leverages nearly 40 years of experience from medical, franchise, e-commerce,
and direct selling channels. Medifast and its community of independent <B>OPTA</B>VIA Coaches embrace the future of wellness with
a shared vision to offer the world lifelong transformation, one healthy habit at a time&reg;. <B>OPTA</B>VIA&reg; is represented
by a community of <B>OPTA</B>VIA Coaches who teach Clients healthy habits, while offering support and guidance on their transformation
journey. In 2018, Medifast announced it will expand into the Asia-Pacific markets of Hong Kong and Singapore in 2019 with its integrated
coach model. Medifast is traded on the New York Stock Exchange and was named to Forbes' 100 Most Trustworthy Companies in America
List in 2016 and 2017. For more information, visit www.MedifastInc.com or www.OPTAVIA.com.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This release contains &quot;forward-looking&quot;
statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange
Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These &quot;forward-looking&quot; statements
are based on present circumstances and on Medifast's predictions with respect to events that have not occurred, that may not occur,
or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements,
including the expected future payment of dividends and any statement of the plans and objectives of management for future operations
and forecasts of future growth and value, are not guarantees of future performance or results and involve risks and uncertainties
that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.
Such forward-looking statements are made only as of the date of this release and Medifast assumes no obligation to update forward-looking
statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.85pt; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ICR, Inc., Katie Turner, (646) 277-1228</P>

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



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

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