<SEC-DOCUMENT>0001213900-23-061334.txt : 20230731
<SEC-HEADER>0001213900-23-061334.hdr.sgml : 20230731
<ACCEPTANCE-DATETIME>20230731165516
ACCESSION NUMBER:		0001213900-23-061334
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20230731
DATE AS OF CHANGE:		20230731

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PSQ Holdings, Inc.
		CENTRAL INDEX KEY:			0001847064
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				862062844
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92693
		FILM NUMBER:		231128054

	BUSINESS ADDRESS:	
		STREET 1:		222 LAKEVIEW AVENUE
		STREET 2:		SUITE 800
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
		BUSINESS PHONE:		(561) 805-3588

	MAIL ADDRESS:	
		STREET 1:		222 LAKEVIEW AVENUE
		STREET 2:		SUITE 800
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PSQ Holdings, Inc
		DATE OF NAME CHANGE:	20230719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colombier Acquisition Corp.
		DATE OF NAME CHANGE:	20210219

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Seifert Michael Stephen
		CENTRAL INDEX KEY:			0001985187

	FILING VALUES:
		FORM TYPE:		SC 13D

	MAIL ADDRESS:	
		STREET 1:		516 SOUTH DIXIE HIGHWAY, PMB 191
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>ea182512-13dseifert_psq.htm
<DESCRIPTION>SCHEDULE 13D
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt"><B>Washington,
D.C. 20549</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt"><B>SCHEDULE 13D</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: center; text-indent: -10.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Under the Securities Exchange Act of 1934<BR>
(Amendment No. )*</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; border-bottom: black 1.5pt solid"><B>PSQ Holdings,
Inc.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Issuer)</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; border-bottom: black 1.5pt solid"><B>Class A Common
Stock, par value $0.0001 per share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Title of Class of Securities)</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; border-bottom: black 1.5pt solid"><FONT STYLE="background-color: white"><B>693691107</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o PSQ Holdings, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>222 Lakeview Avenue, Suite 800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>West Palm Beach, Florida 33401</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Telephone Number: (877) 776-2402</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)</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; background-color: white"><B><I>With copies to:</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o PSQ Holdings, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>222 Lakeview Avenue, Suite 800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>West Palm Beach, Florida 33401</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(877) 776-2402</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; border-bottom: black 1.5pt solid"><B>July 19, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of Event which Requires Filing of this Statement)</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: justify">If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &sect;&sect;240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box. <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>*</SUP></TD><TD STYLE="text-align: justify">The remainder of this cover page shall be filled out for a reporting
person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.</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">The information required on the remainder of this
cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).</P>

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

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

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

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

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="padding: 3pt; border: black 1.5pt solid; vertical-align: top; width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: Black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 93%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Names of Reporting Persons</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Michael Seifert</P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Check the Appropriate Box if a Member of a Group (See Instructions)</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(a) <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: Black 1.5pt solid; font-size: 10pt"><FONT STYLE="font-size: 10pt">(b) <FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SEC Use Only</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Source of Funds (See Instructions)</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">OO</P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">5.</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-bottom: Black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Check if Disclosure of Legal Proceedings Is Required Pursuant to
    Items 2(d) or 2(e)</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744;</P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">6.</FONT></TD>
    <TD STYLE="padding: 3pt; border-right: black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Citizenship or Place of Organization</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States</P></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD ROWSPAN="4" STYLE="text-align: center; padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: middle; width: 15%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Number of<BR>
Shares<BR>
Beneficially<BR>
Owned by<BR>
Each<BR>
Reporting<BR>
Person With</P></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; vertical-align: top; width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">7.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; width: 78%; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Sole Voting Power</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">3,213,678<SUP>(1)
</SUP></FONT></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">8.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Shared Voting Power</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">9.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Sole Dispositive Power</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">3,213,678
<SUP>(1)</SUP></FONT></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">10.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Shared Dispositive Power</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">0</FONT></P></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; width: 7%; font-size: 10pt"><FONT STYLE="font-size: 10pt">11.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; width: 93%; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Aggregate Amount Beneficially Owned by Each Reporting Person</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">3,213,678
<SUP>(1)</SUP></FONT></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">12.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Check if the Aggregate Amount in Row (11) Excludes Certain Shares
    (See Instructions)</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9744;</P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-left: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">13.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Percent of Class Represented by Amount in Row (11)</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B>11.0%<SUP>(2)</SUP></P></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; border: black 1.5pt solid; vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">14.</FONT></TD>
    <TD STYLE="padding: 3pt; border-top: black 1.5pt solid; border-right: black 1.5pt solid; border-bottom: black 1.5pt solid; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Type of Reporting Person (See Instructions)</B></FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">IN</FONT></P></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%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24px; text-align: left">(1)</TD><TD STYLE="text-align: justify">Includes 3,213,678 shares of Class C Common Stock, par value $0.0001 (&ldquo;Class C Common
                                                 Stock&rdquo;), each share of Class C common Stock that may be converted by Mr. Seifert into (one) share of Class A Common Stock, par
                                                 value $0.0001 (&ldquo;Class A Common Stock&rdquo;), <FONT STYLE="font-family: Times New Roman, Times, Serif">issued to Michael
                                                 Seifert pursuant to the Agreement and Plan of Merger dated as of February 27, 2023 (the &ldquo;Merger Agreement&rdquo;), among the
                                                 Issuer, PublicSq. Inc. (f/k/a PSQ Holdings. Inc.), Colombier-Liberty Acquisition, Inc. and Colombier Sponsor, LLC.</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt"></FONT></TD>
    <TD>
    <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: justify">As of the date of this statement on Schedule 13D,
    the Reporting Person&rsquo;s 3,213,678 Class C Common Stock are entitled to 28,923,102 votes after giving effect to all issuances in connection
    with the Closing (as defined below), which is calculated by (rounded up to the nearest whole number) per share of Class C Common Stock
    held of record by such holder as of the applicable record date equal to (i) (x) (the total number of shares of Class A Common Stock entitled
    to vote after giving effect to the issuances in connection with the Closing), plus (y) one hundred (100); divided by (ii) (the total number
    of shares of Class C Common Stock issued and outstanding after giving effect to the issuances in connection with the Closing).</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">A</FONT>s
    a result of his ownership of 100% of the outstanding Class C Common Stock, the Reporting Person as of the date of this statement on
    Schedule 13D, the Reporting Person will hold approximately 52.62% <FONT STYLE="background-color: white">of the voting power of the
    Issuer, and can control the result of most matters to be voted upon by the Issuer&rsquo;s stockholders. Each share of Class C Common
    Stock held by the Reporting Person may be converted by the Reporting Person at any time into one (1) share of Class A Common
    Stock.</FONT></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"><FONT STYLE="background-color: white">In the event
    that, after the Closing, the Reporting Person transfers shares of Class C Common Stock to any person other than certain permitted transferees
    (as set forth in the Issuer&rsquo;s restated certificate of incorporation) such transferred shares will convert automatically into shares
    of Class A Common Stock having only one vote per share. All outstanding shares of Class C Common Stock will convert into Class A Common
    Stock (i) in the event the Reporting Person is no longer at least one of an officer or director of the Issuer, or dies or becomes incapacitated,
    or (ii) at such time as the total number of outstanding shares of Class C Common Stock falls below 50% of the total number of outstanding
    shares of Class C Common Stock as of immediately after Closing.</FONT></P></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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Based on 29,257,976 shares of Class A Common Stock outstanding as of July 25, 2023, <FONT STYLE="background-color: white">as reported in the Issuer&rsquo;s Current Report on Form 8-K filed on July 25, 2023</FONT> and assuming all 3,213,678 shares of Class C Common Stock <FONT STYLE="background-color: white">held by the Reporting Person have been converted. </FONT></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. <U>Security and Issuer</U></B></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">This statement on Schedule 13D (this &ldquo;Schedule
13D&rdquo;) is filed in relation to the shares of the of Class A Common Stock, par value $0.0001 (&ldquo;Class A Common Stock&rdquo;),
of PSQ Holdings, Inc., a Delaware corporation (the &ldquo;Issuer&rdquo;). The principal executive offices of the Issuer are located at
222 Lakeview Avenue, Suite 800, West Palm Beach, Florida 33401.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.6pt; text-align: justify"><B>Item 2. <U>Identity and Background</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">This Schedule 13D is being filed by Michael Seifert (the &ldquo;Reporting Person&rdquo;), a United States citizen, with respect to the Class C Common Stock, par value $0.0001 (&ldquo;Class C Common Stock&rdquo;) directly owned by him.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 61.9pt; text-align: justify">&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: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The principal business address of the Reporting Person is 222 Lakeview Avenue, Suite 800, West Palm Beach, Florida 33401.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-align: justify">&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: 24px; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">The Reporting Person&rsquo;s principal occupation or
    employment is Chief Executive Officer, President and Chairman of the Board of Directors of the Issuer. The name,
    principal business and address of the corporation or other organization in which such employment is conducted is PSQ Holdings, Inc.,
    222 Lakeview Avenue, Suite 800, West Palm Beach, Florida 33401.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">During the past five years, the Reporting Person (i) has not been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors), and (ii) was not a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, federal or state securities laws or a finding of any violation with respect to such laws.</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 0pt 0.6pt; text-align: justify"><B>Item 3. <U>Source and Amount of Funds
or Other Consideration</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the founding of PublicSq. Inc. (f/k/a PSQ
Holdings, Inc.) (&ldquo;Private PSQ&rdquo;), the Reporting Person acquired 165,000 shares of Private PSQ Common Stock (the &ldquo;Private
Shares&rdquo;) using personal funds of a nominal amount. On July 19, 2023, in connection with
the consummation of the transactions contemplated by the <FONT STYLE="font-family: Times New Roman, Times, Serif">Agreement and Plan
of Merger, dated as of February 27, 2023 (the &ldquo;Merger Agreement&rdquo;), among the Issuer, PublicSq. Inc. (f/k/a PSQ Holdings.
Inc.), Colombier-Liberty Acquisition, Inc. and Colombier Sponsor, LLC</FONT> (the closing of such transactions, the &ldquo;Closing&rdquo;),
each of the Reporting Person&rsquo;s 165,000 Private Shares was automatically converted into 19.476836 shares of Class C Common Stock
of the Issuer. As a result, the Reporting Person received an aggregate of 3,213,678 shares of Cl<FONT STYLE="background-color: white">ass
C Common Stock upon the Closing.</FONT></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 0pt 0.6pt; text-align: justify"><B>Item 4. <U>Purpose of the Transaction</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 3 above is hereby incorporated into
this Item 4 by reference. The Reporting Person holds a substantial equity interest in the Issuer, which was primarily acquired at
the Closing. <FONT STYLE="background-color: white">The Reporting Person also serves as the Chief Executive Officer, President and
Chairman of the Board of Directors of the Issuer. As result of the Reporting Person&rsquo;s substantial equity interest, voting
power and positions with the Issuer, the Reporting Person may have substantial ability to influence the Issuer&rsquo;s business,
management and operations. Although the Reporting Person does not have any specific plan or proposal to acquire additional shares or
to dispose of Class A Common Stock or Class C Common Stock, consistent with his investment purpose, the Reporting Person may at any
time and from time to time acquire additional shares of Class A Common Stock or, and subject to the Lock-Up Agreement (as defined
below), dispose of shares of Class C Common Stock and Class A Common Stock, depending upon his ongoing evaluation of his investment,
prevailing market conditions, other investment opportunities, and/or other investment considerations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as disclosed in this Schedule 13D, the
Reporting Person currently does not have any other plans or proposals which relate to, or would result in, any of the matters referred
to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Person may, at any time and
from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto.</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></B></P>

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<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>Item 5. <U>Interest in Securities of the Issuer</U></B></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; text-align: justify; margin: 0pt; text-indent: 0pt; background-color: white">The aggregate percentage
of shares of Class A Common Stock reported owned by the Reporting Person is based upon 29,257,976 shares of Class A Common Stock outstanding
as of July 25, 2023, which is the total number of shares of Class A Common Stock outstanding as reported in the Issuer&rsquo;s Current
Report on Form 8-K filed with the Securities and Exchange Commission on July 25, 2023 and the conversion of the shares of Class C Common
Stock held by the Reporting Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white">&nbsp;</P>

<P STYLE="margin-left: 0.25in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Michael Seifert</FONT></P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.5in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">i.</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">As of close of business on&nbsp;<FONT STYLE="background-color: white">July 31, 2023</FONT>, Mr. Seifert directly owns 3,213,678 shares of Class A Common Stock.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.75in; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-size: 10pt">Percentage: 11.0%</FONT></P>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.5in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">ii.</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Powers</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.75in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Sole power to vote or direct vote: 0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.75in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">2.</FONT></TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-size: 10pt">Shared power to vote or direct vote: 3,213,678</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.75in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-size: 10pt">3.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Sole power to dispose or direct the disposition: 0</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.75in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-size: 10pt">4.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Shared power to dispose or direct the disposition: 3,213,678</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 0.25in"><FONT STYLE="font-size: 10pt">iii.</FONT></TD>
    <TD STYLE="text-align: justify; vertical-align: top"><FONT STYLE="font-size: 10pt; background-color: white">The only transactions in the Class A Common Stock of the Issuer by the Reporting Person during the past sixty days are discussed in Item 3 of this Schedule 13D which is incorporated herein by reference.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Lock-Up Agreement</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">In connection
with the execution of the Merger Agreement, the Reporting Person entered into a Lock-Up Agreement, dated February 27, 2023 (the &ldquo;Lock-Up
Agreement&rdquo;), with the Issuer and Colombier Sponsor LLC (the &ldquo;Sponsor&rdquo;), pursuant to which the securities of Issuer held
by the Reporting Person are locked-up and subject to transfer restrictions, subject to certain customary exceptions, such as transfers
to affiliates, gifts or charitable donations, transfers for estate planning purposes, or restricted stock, or for other structuring purposes.
The securities held by the Reporting Person are locked-up until the earlier of: (i) the one (1) year anniversary of the date of the Closing,
(ii) </FONT>the first date subsequent to the Closing with respect to which the closing price of the Class A Common Stock has equaled or
exceeded $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20
trading days within any 30-trading day period commencing at least 150 days after the Closing<FONT STYLE="background-color: white">, and
(iii) the date on which the Issuer </FONT>completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction
that results in all of the Issuer&rsquo;s stockholders having the right to exchange their shares of Class A Common Stock for cash, securities
or other property<FONT STYLE="background-color: white">. The foregoing summary of certain terms and conditions of the Lock-Up Agreement
does not purport to be complete and is qualified in its entirety by reference to the complete text of the </FONT>Form of Lock-Up Agreement,
a copy of which is attached hereto as Exhibit 1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Amended and Restated Registration Rights Agreement</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 19, 2023, in connection with the Closing,
the Reporting Person and other stockholders entered into an amended and restated registration rights agreement, dated July 19, 2023 (the
&ldquo;Registration Rights Agreement&rdquo;), with the Issuer and the Sponsor, pursuant to which the Reporting Person was granted certain
demand and &ldquo;piggyback&rdquo; registration rights, subject to customary conditions and limitations. <FONT STYLE="background-color: white">The
foregoing summary of certain terms and conditions of the Registration Rights Agreement does not purport to be complete and is qualified
in its entirety by reference to the complete text of the Registration Rights Agreement, a copy of which is attached hereto as Exhibit
2.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7. Material to be Filed as Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="width: 10%"><FONT STYLE="font-size: 10pt">Exhibit 1*</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 89%; text-align: justify"><A HREF="ea182512ex99-1_psqhold.htm"><FONT STYLE="font-size: 10pt">Form of Lock-Up Agreement </FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Exhibit 2*</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="ea182512ex99-2_psqhold.htm">Amended and Restated Registration Rights Agreement, dated July 19, 2023, by and among the Reporting Person, the Issuer, the Sponsor and other stockholders party thereto</A></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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Filed herewith</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 222.45pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After reasonable inquiry and
to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and
correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.3pt; text-indent: 28.4pt">&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: 60%"><FONT STYLE="font-size: 10pt">Dated: July 31, 2023</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/ Michael Seifert, as attorney-in-fact</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Michael Seifert </B></FONT></TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea182512ex99-1_psqhold.htm
<DESCRIPTION>FORM OF LOCK-UP AGREEMENT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1</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><U>FORM OF LOCK-UP AGREEMENT</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS LOCK-UP AGREEMENT (this
&ldquo;<B><I>Agreement</I></B>&rdquo;) is made and entered into as of February 27, 2023 by and among Colombier Acquisition Corp. a Delaware
corporation, (including any successor entity thereto, the &ldquo;<B><I>Purchaser</I></B>&rdquo;), Colombier Sponsor LLC, a Delaware limited
liability company, in its capacity as the Purchaser Representative under the Merger Agreement (as defined below) (the &ldquo;<B><I>Purchaser
Representative</I></B>&rdquo;), and the undersigned (&ldquo;<B><I>Holder</I></B>&rdquo;). Any capitalized term used but not defined in
this Agreement will have the meaning ascribed to such term in the Merger Agreement (defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, contemporaneously
herewith, (i) the Purchaser, (ii) Colombier-Liberty Acquisition, Inc., a Delaware corporation and a wholly-owned subsidiary of the Purchaser
(&ldquo;<B><I>Merger Sub</I></B>&rdquo;), (iii) the Purchaser Representative, and (iv) PSQ Holdings, Inc., a Delaware corporation (the
&ldquo;<B><I>Company</I></B>&rdquo;), entered into that certain Agreement and Plan of Merger (as amended from time to time in accordance
with the terms thereof, the &ldquo;<B><I>Merger Agreement</I></B>&rdquo;), pursuant to which Merger Sub will merge with and into the Company,
with the Company continuing as the surviving entity (the &ldquo;<B><I>Merger</I></B>&rdquo;), and as a result of which all of the issued
and outstanding capital stock of the Company immediately prior to the consummation of the Merger (the &ldquo;<B><I>Closing</I></B>&rdquo;)
shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, in exchange for the right to receive the
Merger Consideration, with holders of Company Common Stock receiving shares of Purchaser Common Stock in accordance with the terms of
the Merger Agreement and all upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the
applicable provisions of the of the DGCL;</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; text-indent: 0.5in"><B>WHEREAS</B>, as of the
date hereof, Holder is a Company Lockup Holder and a holder of the Company Securities in such amounts as set forth underneath Holder&rsquo;s
name on the signature page hereto; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to
the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, the parties desire to enter into
this Agreement, pursuant to which the Stockholder Merger Consideration (all such securities, together with any securities paid as dividends
or distributions with respect to such securities or into which such securities are exchanged or converted, the <I>&ldquo;<B>Restricted
Securities</B>&rdquo;</I>) shall become subject to limitations on disposition as set forth herein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in
consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to
be legally bound hereby, the parties hereby agree as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;Holder
hereby agrees not to, during the period (the &ldquo;<B><I>Lock-Up Period</I></B>&rdquo;) commencing from the Closing and ending on the
earlier of (A) the one (1) year anniversary of the date of the Closing, (B) the first date subsequent to the Closing with respect to which
the closing price of the Purchaser Common Stock has equaled or exceeded $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days
after the Closing or (C) the date on which the Purchaser completes a liquidation, merger, capital stock exchange, reorganization or other
similar transaction that results in all of the Purchaser&rsquo;s stockholders having the right to exchange their shares of Purchaser Common
Stock for cash, securities or other property: (i) lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell,
sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, or otherwise
transfer or dispose of, directly or indirectly, any Restricted Securities, (ii) enter into any swap or other arrangement that transfers
to another, in whole or in part, any of the economic consequences of ownership of the Restricted Securities or (iii) publicly disclose
the intention to do any of the foregoing, whether any such transaction described in clauses (i), (ii) or (iii) above is to be settled
by delivery of Restricted Securities or other securities, in cash or otherwise (any of the foregoing described in clauses (i), (ii) or
(iii), a &ldquo;<B><I>Prohibited Transfer</I></B>&rdquo;). The foregoing sentence shall not apply to the transfer of any or all of the
Restricted Securities owned by Holder (I) by gift, (II) by will or other testamentary document or intestate succession upon the death
of Holder, (III) to any Permitted Transferee (as defined below), (IV) pursuant to a court order or settlement agreement or other domestic
order related to the distribution of assets in connection with the dissolution of marriage or civil union, (V) <FONT STYLE="background-color: white">to
the Purchaser pursuant to any contractual arrangement in effect on the date of this Agreement that provides for the repurchase of shares
of Purchaser Common Stock in connection with the termination of the undersigned&rsquo;s employment with or service to the Purchaser</FONT>;
provided, however, that in any of cases (I), (II), (III) or (IV) above, it shall be a condition to such transfer that the transferee executes
and delivers to the Purchaser and the Purchaser Representative an agreement stating that the transferee is receiving and holding the Restricted
Securities subject to the provisions of this Agreement applicable to Holder, and there shall be no further transfer of such Restricted
Securities except in accordance with this Agreement. As used in this Agreement, the term &ldquo;<B><I>Permitted Transferee</I></B>&rdquo;
shall mean: (A) the members of Holder&rsquo;s immediate family (for purposes of this Agreement, &ldquo;immediate family&rdquo; shall mean
with respect to any natural person, any of the following: such person&rsquo;s spouse, the siblings of such person and his or her spouse,
and the direct descendants and ascendants (including adopted and step children and parents) of such person and his or her spouses and
siblings), (B) any trust for the direct or indirect benefit of Holder or the immediate family of Holder, (C) if Holder is a trust, the
trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, (D) if Holder is an entity, as a distribution to
limited partners, shareholders, members of, or owners of similar equity interests in Holder upon the liquidation and dissolution of Holder
and (E) any affiliate of Holder,. Holder further agrees to execute such agreements as may be reasonably requested by Purchaser or the
Purchaser Representative that are consistent with the foregoing or that are necessary to give further effect thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;If
any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer shall be
null and void ab initio, and Purchaser shall refuse to recognize any such purported transferee of the Restricted Securities as one of
its equity holders for any purpose. In order to enforce this <U>Section 1</U>, Purchaser may impose stop-transfer instructions with respect
to the Restricted Securities of Holder (and Permitted Transferees and assigns thereof) until the end of the Lock-Up Period.</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)&nbsp;During
the Lock-Up Period, each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a legend in substantially
the following form, in addition to any other applicable legends:</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 0pt 0.5in; text-align: justify">&ldquo;THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT DATED AS OF FEBRUARY 27, 2023, BY AND AMONG
THE ISSUER OF SUCH SECURITIES (THE &ldquo;ISSUER&rdquo;), A CERTAIN REPRESENTATIVE OF THE ISSUER NAMED THEREIN AND THE ISSUER&rsquo;S
SECURITY HOLDER NAMED THEREIN. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON
WRITTEN REQUEST.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;For
the avoidance of any doubt, Holder shall retain all of its rights as a stockholder of the Purchaser during the Lock-Up Period, including
the right to vote any Restricted Securities, subject to the terms of the Merger Agreement and the Voting Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;<U>Registration
Rights</U>. If the Holder receives restricted securities at the Closing or is an affiliate of the Company or the Purchaser immediately
after the Closing or a party who may be deemed to be an underwriter pursuant to Rule 145 under the Securities Act of 1933, as amended,
the Holder will be entitled to registration rights (including demand and piggyback rights) pursuant to a registration rights agreement
to be entered into at Closing substantially in the form attached to the Merger Agreement as Exhibit D.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;<U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;<U>Termination
of Merger Agreement</U>. This Agreement shall be binding upon Holder upon Holder&rsquo;s execution and delivery of this Agreement, but
this Agreement shall only become effective upon the Closing. Notwithstanding anything to the contrary contained herein, in the event that
the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of
the parties hereunder shall automatically terminate and be of no further force or effect.</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: 67.5pt">(b)&nbsp;<U>Binding
Effect; Assignment</U>. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder are personal to Holder and
may not be transferred or delegated by Holder at any time. The Purchaser may freely assign any or all of its rights under this Agreement,
in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise) without obtaining
the consent or approval of Holder. If the Purchaser Representative is replaced in accordance with the terms of the Merger Agreement, the
replacement Purchaser Representative shall automatically become a party to this Agreement as if it were the original Purchaser Representative
hereunder.</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)&nbsp;<U>Third
Parties</U>. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions
contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person or entity that is not
a party hereto or thereto or a successor or permitted assign of such a party.</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">(d)&nbsp;<U>Governing
Law; Jurisdiction</U>. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware, without regard to the conflict of law principles thereof. All Actions
arising out of or relating to this Agreement shall be heard and determined exclusively All Actions arising out of or relating to this
Agreement shall be heard and determined exclusively in the Chancery Court of the State of Delaware (or, if the Chancery Court of the State
of Delaware declines to accept jurisdiction over a particular matter, any U.S. state or federal court located in the State of Delaware
(or in any appellate court thereof) (the &ldquo;<B><I>Specified Courts</I></B>&rdquo;). Each party hereto hereby (i) submits to the exclusive
jurisdiction of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto
and (ii) irrevocably waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is
not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution,
that the Action is brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions
contemplated hereby may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents
to the service of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in <U>Section 2(g)</U>. Nothing in this <U>Section 2(d)</U> shall affect the right of any party to serve legal process
in any other manner permitted by applicable law.</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)&nbsp;<U>WAIVER
OF JURY TRIAL</U>. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE
OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
<U>SECTION 2(e)</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">(f)&nbsp;<U>Interpretation</U>.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this
Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include the corresponding
masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii)
&ldquo;including&rdquo; (and with correlative meaning &ldquo;include&rdquo;) means including without limiting the generality of any description
preceding or succeeding such term and shall be deemed in each case to be followed by the words &ldquo;without limitation&rdquo;; (iii)
the words &ldquo;herein,&rdquo; &ldquo;hereto,&rdquo; and &ldquo;hereby&rdquo; and other words of similar import shall be deemed in each
case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement; and (iv) the term
&ldquo;or&rdquo; means &ldquo;and/or&rdquo;. The parties have participated jointly in the negotiation and drafting of this Agreement.
Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted
jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provision of this Agreement.</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">(g)&nbsp;<U>Notices</U>.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when
delivered (i) in person, (ii) by electronic means, with affirmative confirmation of receipt, (iii) one Business Day after being sent,
if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days after being mailed, if sent by registered
or certified mail, pre-paid and return receipt requested, in each case to the applicable party at the following addresses (or at such
other address for a party as shall be specified by like notice):</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>If to the Purchaser at or prior to the Closing, to:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Colombier Acquisition Corp.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">214 Brazilian Avenue, Suite 200-A</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Palm Beach, FL 33480</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Attn: &zwnj;Omeed Malik</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telephone: (&zwnj;561) &zwnj;805-3588</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Email: &zwnj;omeed@fvpartners.com<BR>
    <BR>
    </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 50%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>With a copy (which will not constitute notice) to:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ellenoff Grossman &amp; Schole LLP<BR>
    1345 Avenue of the Americas, 11th Floor<BR>
    New York, New York 10105<BR>
    Attn: Matthew A. Gray, Esq.<BR>
    Telephone No.: (212) 370-1300<BR>
    Email: mgray@egsllp.com</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">and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Eversheds Sutherland (US) LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">700 Sixth St. NW, Suite 700</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20001</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Douglas J. Leary, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (202) 383-0100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: dougleary@eversheds-sutherland.us</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>If to the Purchaser Representative, to:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Colombier Sponsor LLC.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">214 Brazilian Avenue, Suite 200-J</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Palm Beach, FL 33480</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Omeed Malik</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (561) 805-3588</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: omeed@fvrpartners.com</P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>with a copy (which will not constitute notice) to:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ellenoff Grossman &amp; Schole LLP<BR>
    1345 Avenue of the Americas, 11th Floor<BR>
    New York, New York 10105<BR>
    Attn: Matthew A. Gray, Esq.<BR>
    Telephone No.: (212) 370-1300<BR>
    Email: mgray@egsllp.com</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">and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Eversheds Sutherland (US) LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">700 Sixth St. NW, Suite 700</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20001</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Douglas J. Leary, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (202) 383-0100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: dougleary@eversheds-sutherland.us</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

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

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

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    <!-- Field: /Page -->

<P STYLE="margin: 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="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>If to the Purchaser after the Closing, to:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Colombier Sponsor LLC<BR>
    214 Brazilian Avenue, Suite 200-J<BR>
    Palm Beach, FL 33480</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (561) 805-3588<BR>
    Attn: Omeed Malik<BR>
    Email: omeed@fvrpartners.com</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-align: left">and</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-align: left">PSQ Holdings, Inc.<BR>
    315 S. Coast Hwy 101 STE. U44<BR>
    Encinitas, CA, 92024</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Telephone: (877) 776-2402<BR>
    Attn: Michael Seifert<BR>
    Email: michael@publicsq.com</P></TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-bottom: 3pt; width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>with a copy (which shall not constitute notice) to:</I></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">Ellenoff Grossman &amp; Schole LLP<BR>
    1345 Avenue of the Americas, 11th Floor<BR>
    New York, New York 10105<BR>
    Attn: Matthew A. Gray, Esq.<BR>
    Telephone No.: (212) 370-1300<BR>
    Email: mgray@egsllp.com</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">and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Eversheds Sutherland (US) LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">700 Sixth St. NW, Suite 700</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20001</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Douglas J. Leary, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Telephone: (202) 383-0100</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: dougleary@eversheds-sutherland.us</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">and</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wilmer Cutler Pickering Hale and Dorr LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7 World Trade Center</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">250 Greenwich Street, 45<SUP>th</SUP> floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New&nbsp;York, NY 10007</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attn: Glenn R. Pollner, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Andrew P. Alin, Esq.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel: (212) 230-8800</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email: glenn.pollner@wilmerhale.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">andrew.alin@wilmerhale.com</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify; border-bottom: Black 1pt solid; padding-top: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>If to Holder, to</I>: the address set forth under Holder&rsquo;s name on the signature page hereto, with a copy (which will not constitute notice) to, if not the party sending the notice, each of the Purchaser and the Purchaser Representative (and each of their copies for notices hereunder).</FONT></TD></TR>
  </TABLE>
<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; text-align: justify; text-indent: 1in">(h)&nbsp;<U>Amendments
and Waivers</U>. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally
or in a particular instance, and either retroactively or prospectively) only with the written consent of the Purchaser, the Purchaser
Representative and Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof. No waivers
of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed
as a further or continuing waiver of any such term, condition, or provision.</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">(i)&nbsp;<U>Severability</U>.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified
or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity,
legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid, illegal or unenforceable provision
a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid,
illegal or unenforceable provision.</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">(j)&nbsp;<U>Specific
Performance</U>. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of
a breach of this Agreement by Holder, money damages will be inadequate and Purchaser (and the Purchaser Representative on behalf of the
Purchaser) will have no adequate remedy at law, and agrees that irreparable damage would occur in the event that any of the provisions
of this Agreement were not performed by Holder in accordance with their specific terms or were otherwise breached. Accordingly, each of
the Purchaser and the Purchaser Representative shall be entitled to an injunction or restraining order to prevent breaches of this Agreement
by Holder and to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to
prove that money damages would be inadequate, this being in addition to any other right or remedy to which such party may be entitled
under this Agreement, at law or in equity.</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">(k)&nbsp;<U>Entire
Agreement</U>. This Agreement, together with the Merger Agreement to the extent referred to herein, constitutes the full and entire understanding
and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject
matter hereof existing between the parties is expressly canceled; <U>provided</U>, that, for the avoidance of doubt, the foregoing shall
not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing,
nothing in this Agreement shall limit any of the rights, remedies or obligations of the Purchaser or the Purchaser Representative or any
of the rights, remedies or obligations of Holder under any other agreement between Holder and the Purchaser and Purchaser Representative
or any certificate or instrument executed by Holder in favor of the Purchaser or the Purchaser Representative, and nothing in any other
agreement, certificate or instrument shall limit any of the rights, remedies or obligations of the Purchaser or the Purchaser Representative
or any of the rights, remedies or obligations of Holder under this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(l)&nbsp;<U>Further
Assurances</U>. From time to time, at another party&rsquo;s reasonable request and without further consideration (but at the requesting
party&rsquo;s reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action
as may be reasonably necessary to consummate the transactions contemplated by this Agreement.</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">(m)&nbsp;<U>Counterparts.</U>
This Agreement may be executed in multiple counterparts (including by pdf or other electronic document transmission), each of which shall
be deemed an original, and all of which taken together shall constitute one and the same instrument.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><I>{Remainder of Page Intentionally Left Blank;
Signature Pages Follow}</I></B></P>

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

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

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




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties have executed this Lock-Up Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&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><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Purchaser:</U></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Colombier Acquisition Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Purchaser Representative:</U></I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Colombier Sponsor LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>{Additional Signature on the Following Page}</I></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>{Signature Page to Lock-Up Agreement}</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;</I></B></P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>&nbsp;<BR STYLE="clear: both">
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>, the parties have executed
this Lock-Up Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&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: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><U>Holder:</U></I></B></FONT></TD>
    <TD STYLE="width: 27%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD>
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name of Holder: </FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</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: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 35%">&nbsp;</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><I>Number of Shares and Other Company Securities:</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Company Stock: ________________________________________</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Other Company Securities: ________________________________</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><I>Address for Notice:</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Address:_________________________________________</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Telephone No: ____________________________________<U><BR>
</U>Email: ___________________________________________</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>{Signature Page to Lock-Up Agreement}</I></B></P>

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

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

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

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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ea182512ex99-2_psqhold.htm
<DESCRIPTION>AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, DATED JULY 19, 2023, BY AND AMONG THE REPORTING PERSON, THE ISSUER, THE SPONSOR AND OTHER STOCKHOLDERS PARTY THERETO
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right">Exhibit 2</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">AMENDED AND RESTATED BYLAWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">PSQ HOLDINGS, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.45pt 0pt 136.45pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.3pt 0pt 136.45pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.3pt 0pt 136.45pt; text-align: center">TABLE OF CONTENTS</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-bottom: 1.5pt; width: 10%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 80%; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="text-decoration: none">Page</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE I STOCKHOLDERS</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Place of Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual Meeting</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Special Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Record Date for Stockholder Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting List</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quorum</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Adjournments</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting and Proxies</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Action at Meeting</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nomination of Directors</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.12</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Business at Annual Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.13</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conduct of Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.14</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No Action by Consent in Lieu of a Meeting</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE II DIRECTORS </FONT></TD>
    <TD STYLE="text-align: center">10</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General Powers</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board; Vice Chairman of the Board</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Terms of Office</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quorum</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Action at Meeting</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Removal</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vacancies</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resignation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regular Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Special Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.12</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Special Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.13</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Meetings by Conference Communications Equipment</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.14</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Action by Consent.</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.15</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Committees</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.16</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emergency Bylaws</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE III OFFICERS</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Titles</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Qualification</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tenure</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Resignation and Removal</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vacancies</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President; Chief Executive Officer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice Presidents.</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary and Assistant Secretaries</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.10</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Treasurer and Assistant Treasurers</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Salaries</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.12</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delegation of Authority</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
</TABLE>

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

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

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<P STYLE="margin: 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; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE IV CAPITAL STOCK</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 80%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance of Stock</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Certificates; Uncertificated Shares</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfers</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lost, Stolen or Destroyed Certificates</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulations</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARTICLE V GENERAL PROVISIONS</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fiscal Year</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Corporate Seal</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.3</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Record Date for Purposes Other Than Stockholder Meetings</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.4</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Waiver of Notice</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.5</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Voting of Securities</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.6</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Evidence of Authority</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.7</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Incorporation</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.8</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Severability</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.9</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pronouns</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">ARTICLE VI AMENDMENTS</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">17</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"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 146.35pt 0pt 136.45pt; text-align: center">ARTICLE I</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 146.35pt 0pt 136.45pt; text-align: center"><B>STOCKHOLDERS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in">1.1 <U>Place
of Meetings</U>. All meetings of stockholders shall be held at such place, if any, as may be designated from time to time by the Board
of Directors (the &ldquo;<B>Board</B>&rdquo;), the Chairman of the Board or the Chief Executive Officer or, if not so designated, at the
principal executive office of PSQ Holdings, Inc. (the &ldquo;<B>Corporation</B>&rdquo;). The Board may, in its sole discretion, determine
that a meeting shall not be held at any place, but shall instead be held solely by means of remote communication in a manner consistent
with Section 211(a)(2) of the General Corporation Law of the State of Delaware (&ldquo;<B>DGCL</B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.2 <U>Annual
Meeting</U>. The annual meeting of stockholders for the election of directors and for the transaction of such other business as may properly
be brought before the meeting shall be held on a date and at an hour designated by the Board, the Chairman of the Board or the Chief Executive
Officer. The Corporation may postpone, reschedule or cancel any previously scheduled annual meeting of stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.3 <U>Special
Meetings</U>. Special meetings of stockholders for any purpose or purposes may be called at any time only by the Board, and may not be
called by any other person or persons. Business transacted at any special meeting of stockholders shall be limited to matters relating
to the purpose or purposes stated in the notice of meeting. The Corporation may postpone, reschedule or cancel any previously scheduled
special meeting of stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.4 <U>Record
Date for Stockholder Meetings</U>. In order that the Corporation may determine the stockholders entitled to notice of any meeting of stockholders
or any adjournment thereof, the Board may fix in advance, 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 record date shall not be more than 60 nor less than 10 days before the date
of such meeting. If the Board so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote
at such meeting unless the Board determines, at the time it fixes such record date, that a later date on or before the date of the meeting
shall be the date for making such determination. If no record date is fixed by the, the record date for determining stockholders entitled
to notice of and to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice
is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination
of stockholders of record entitled to notice of and 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 determination of stockholders entitled to vote at the adjourned meeting,
and in such case shall also fix as the record date for stockholders entitled to notice of such adjourned meeting the same or an earlier
date as that fixed for determination of stockholders entitled to vote in accordance herewith at the adjourned meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.5 <U>Notice of
Meetings</U>. Except as otherwise provided by law, the Certificate of Incorporation or these bylaws, notice of each meeting of
stockholders, whether annual or special, shall be given not less than 10 nor more than 60 days before the date of the meeting to
each stockholder of record entitled to vote at such meeting as of the record date for determining the stockholders entitled to
notice of the meeting. Without limiting the manner by which notice otherwise may be given to stockholders, any notice shall be
effective if given in accordance with Section 232 of the DGCL (Delivery of notice; notice by electronic transmission). The notices
of all meetings shall state the place, if any, date and hour of the meeting, 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, and the record date for determining
stockholders entitled to vote at the meeting, if such date is different from the record date for determining stockholders entitled
to notice of the meeting. The notice of a special meeting shall state, in addition, the purpose or purposes for which the meeting is
called.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.6 <U>Voting
List</U>. The Corporation shall prepare, no later than the 10<SUP>th</SUP> day before each meeting of stockholders, a complete list of
the stockholders entitled to vote at the meeting (provided, however, if the record date for determining the stockholders entitled to vote
is less than 10 days before the meeting date, the list shall reflect the stockholders entitled to vote as of the 10<SUP>th</SUP> day before
the meeting), arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name
of each stockholder. Such list shall be open to the examination of any stockholder for any purpose germane to the meeting for a period
of 10 days ending on the day before the meeting date: (a) on a reasonably accessible electronic network, provided that the information
required to gain access to such list is provided with the notice of the meeting, or (b) during ordinary business hours, at the principal
place of business of the Corporation. Except as otherwise provided by law, the stock ledger shall be the only evidence as to who are the
stockholders entitled to examine the list of stockholders required by this Section 1.6 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 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.7 <U>Quorum</U>.
Except as otherwise provided by law, the Certificate of Incorporation or these bylaws, the holders of a majority in voting power of the
shares of the capital stock of the Corporation issued and outstanding and entitled to vote at the meeting, present in person, present
by means of remote communication in a manner, if any, authorized by the Board in its sole discretion, or represented by proxy, shall constitute
a quorum for the transaction of business; provided, however, that where a separate vote by a class or classes or series of capital stock
is required by law or the Certificate of Incorporation, the holders of a majority in voting power of the shares of such class or classes
or series of the capital stock of the Corporation issued and outstanding and entitled to vote on such matter, present in person, present
by means of remote communication in a manner, if any, authorized by the Board in its sole discretion, or represented by proxy, shall constitute
a quorum entitled to take action with respect to the vote on such matter. A quorum, once established at a meeting, shall not be broken
by the withdrawal of enough votes to leave less than a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.5pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.8 <U>Adjournments</U>.
Any meeting of stockholders may be adjourned from time to time to reconvene at any other time and to any other place at which a
meeting of stockholders may be held under these bylaws by the chairman of the meeting. When a meeting is adjourned to another time
or place (including an adjournment taken to address a technical failure to convene or continue a meeting using remote
communication), notice need not be given of the adjourned meeting if the time, place, if any, thereof, and the means of remote
communications, if any, by which stockholders and proxy holders may be deemed to be present in person and vote at such adjourned
meeting are (a) announced at the meeting at which the adjournment is taken, (b) displayed, during the time scheduled for the
meeting, on the same electronic network used to enable stockholders and proxy holders to participate in the meeting by means of
remote communication or (c) set forth in the notice of meeting given in accordance with Section 1.5 hereof. At the adjourned
meeting, the Corporation may transact any business that might have been transacted at the original meeting. If the adjournment is
for more than 30 days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the
meeting. If after the adjournment a new record date for determination of stockholders entitled to vote is fixed for the adjourned
meeting, the Board shall fix a new record date for determining stockholders entitled to notice of such adjourned meeting that is the
same or an earlier date as that fixed for determination of stockholders entitled to vote at such adjourned meeting, and shall give
notice of the adjourned meeting to each stockholder of record entitled to vote at such adjourned meeting as of the record date fixed
for notice of such adjourned meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.9 <U>Voting
and Proxies</U>. Each stockholder shall have one vote upon the matter in question for each share of stock entitled to vote held of record
by such stockholder and a proportionate vote for each fractional share so held, unless otherwise provided by law or the Certificate of
Incorporation (including, without limitation, as provided in the Certificate of Incorporation with respect to the Corporation&rsquo;s
Class C Common Stock, par value $0.0001 per share). Each stockholder of record entitled to vote at a meeting of stockholders may vote
in person (including by means of remote communications, if any, by which stockholders may be deemed to be present in person and vote at
such meeting) or may authorize another person or persons to vote for such stockholder by a proxy executed or transmitted in a manner permitted
by the DGCL by the stockholder or such stockholder&rsquo;s authorized officer, director, employee or agent and delivered (including by
electronic transmission) to the Secretary of the Corporation. No such proxy shall be voted upon after three years from the date of its
execution, unless the proxy expressly provides for a longer period. Any person directly or indirectly soliciting proxies from stockholders
of the Corporation must use a proxy card color other than white, the color white being reserved for the exclusive use of the Board of
the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.6pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">1.10 <U>Action
at Meeting</U>. When a quorum is present at any meeting, any matter other than the election of directors to be voted upon by the stockholders
at such meeting shall be decided by the vote of the holders of shares of stock having a majority in voting power of the votes cast by
the holders of all of the shares of stock present or represented at the meeting and voting affirmatively or negatively on such matter
(or if there are two or more classes or series of stock entitled to vote as separate classes, then in the case of each such class or series,
the holders of a majority in voting power of the shares of stock of that class or series present or represented at the meeting and voting
affirmatively or negatively on such matter), except when a different vote is required by law, the Certificate of Incorporation or these
bylaws. When a quorum is present at any meeting, any election by stockholders of directors shall be determined by a plurality of the votes
cast by the stockholders entitled to vote on the election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.75pt; text-indent: -27.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> 1.11 <U>Nomination of Directors</U>.</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; text-align: justify; text-indent: 0.5in">(a) Except for any
directors entitled to be elected by the holders of preferred stock, only persons who are nominated in accordance with the procedures
in this Section 1.11 shall be eligible for election as directors at any meeting of stockholders. Nomination for election to the
Board at a meeting of stockholders may be made only (i) by or at the direction of the Board or (ii) by any stockholder of the
Corporation who (x) has given timely notice thereof in writing to the Secretary in accordance with the procedures in, and otherwise
complies with, Section 1.11(b), (y) is a stockholder of record who is entitled to vote for the election of such nominee on the date
of the giving of such notice and on the record date for the determination of stockholders entitled to vote at such meeting and (z)
is entitled to vote at such meeting. Notwithstanding the foregoing or anything herein to the contrary, a stockholder of the
Corporation may make nominations for election to the Board at a special meeting of stockholders pursuant to the foregoing clause
(ii) only if the Board has determined, in accordance with Section 1.3, that directors shall be elected at such special meeting and
at such time that the stockholders are not prohibited from filling vacancies or newly created directorships on the Board. The number
of nominees a stockholder may nominate for election at a meeting (or in the case of a stockholder giving the notice on behalf of a
beneficial owner, the number of nominees a stockholder may nominate for election at the meeting on behalf of such beneficial owner)
shall not exceed the number of directors to be elected at such meeting.</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; text-align: justify; text-indent: 0.5in">(b) To
be timely, a stockholder&rsquo;s notice must be received in writing by the Secretary at the principal executive office of the Corporation
as follows: (i) in the case of an election of directors at an annual meeting of stockholders, not less than 90 days nor more than 120
days prior to the first anniversary of the preceding year&rsquo;s annual meeting (which date of the preceding year&rsquo;s annual meeting
date shall, for purposes of the Corporation&rsquo;s first annual meeting of stockholders after the consummation of its business combination
among Colombier Acquisition Corp., Colombier-Liberty Acquisition, Inc. and PSQ Holdings, Inc., be deemed to have occurred on [&#9679;],
202[3] for all purposes of this Section 1.11 and Section 1.12 of these bylaws); provided, however, that in the event that the date of
the annual meeting is advanced by more than 30 days, or delayed by more than 60 days, from the first anniversary of the preceding year&rsquo;s
annual meeting, or if no annual meeting was held or deemed to have been held in the preceding year, a stockholder&rsquo;s notice must
be so received not earlier than the 120<SUP>th</SUP> day prior to such annual meeting and not later than the close of business on the
later of (A) the 90<SUP>th</SUP> day prior to such annual meeting and (B) the 10<SUP>th</SUP> day following the day on which notice of
the date of such annual meeting was given or public disclosure of the date of such annual meeting was made, whichever first occurs; or
(ii) in the case of an election of directors at a special meeting of stockholders, provided that the Board has determined, in accordance
with Section 1.3, that directors shall be elected at such special meeting and the stockholders are not then prohibited from filling vacancies
or newly created directorships on the Board, and provided further that the nomination made by the stockholder is for one of the director
positions that the Board has determined will be filled at such special meeting, not earlier than the 120<SUP>th</SUP> day prior to such
special meeting and not later than the close of business on the later of (x) the 90<SUP>th</SUP> day prior to such special meeting and
(y) the 10<SUP>th</SUP> day following the day on which notice of the date of such special meeting was given or public disclosure of the
date of such special meeting was made, whichever first occurs. In no event shall the adjournment or postponement of a meeting (or the
public disclosure thereof) commence a new time period (or extend any time period) for the giving of a stockholder&rsquo;s notice.</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-align: left"></P>

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<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; text-align: justify; text-indent: 0.25in">The stockholder&rsquo;s
notice to the Secretary shall set forth: (A) as to each proposed nominee (1) such person&rsquo;s name, age, business address and, if
known, residence address, (2) such person&rsquo;s principal occupation or employment, (3) the class and series and number of shares
of stock of the Corporation that are, directly or indirectly, owned, beneficially or of record, by such person, (4) a description of
all direct and indirect compensation and other material monetary agreements, arrangements and understandings during the past three
years, and any other material relationships, between or among (x) the stockholder, the beneficial owner, if any, on whose behalf the
nomination is being made and the respective affiliates and associates of, or others acting in concert with, such stockholder and
such beneficial owner (each, a &ldquo;<B>Stockholder Associated Person</B>&rdquo;), on the one hand, and (y) each proposed nominee,
and his or her respective affiliates and associates, or others acting in concert with such nominee(s), on the other hand, including
all information that would be required to be disclosed pursuant to Item 404 of Regulation S-K if the stockholder making the
nomination and any beneficial owner on whose behalf the nomination is made or any Stockholder Associated Person were the
&ldquo;registrant&rdquo; for purposes of such Item and the proposed nominee were a director or executive officer of such registrant,
and (5) any other information concerning such person that must be disclosed as to nominees in proxy solicitations pursuant to
Regulation 14A under the Securities Exchange Act of 1934, as amended (the &ldquo;<B>Exchange Act</B>&rdquo;); and (B) as to the
stockholder giving the notice and the beneficial owner, if any, on whose behalf the nomination is being made (1) the name and
address of such stockholder, as they appear on the Corporation&rsquo;s books, and of such beneficial owner, (2) the class and series
and number of shares of stock of the Corporation that are, directly or indirectly, owned, beneficially or of record, by such
stockholder and such beneficial owner, (3) a description of any material interest related to the nomination of such stockholder,
such beneficial owner and/or any Stockholder Associated Person, (4) a description of any agreement, arrangement or understanding
between or among such stockholder, such beneficial owner and/or any Stockholder Associated Person and each proposed nominee and any
other person or persons (including their names) pursuant to which the nomination(s) are being made or who may participate in the
solicitation of proxies or votes in favor of electing such nominee(s), (5) a description of any agreement, arrangement or
understanding (including any derivative or short positions, swaps, profit interests, options, warrants, convertible securities,
stock appreciation or similar rights, hedging transactions, and borrowed or loaned shares) that has been entered into by, or on
behalf of, such stockholder, such beneficial owner and/or any Stockholder Associated Person, the effect or intent of which is to
mitigate loss to, manage risk or benefit of share price changes for, or increase or decrease the voting power of, such stockholder,
such beneficial owner and/or any Stockholder Associated Person with respect to shares of stock of the Corporation, (6) any other
information relating to such stockholder, such beneficial owner and/or any Stockholder Associated Person that would be required to
be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for the election
of directors in a contested election pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated
thereunder, (7) a representation that such stockholder intends to appear in person or by proxy at the meeting to nominate the
person(s) named in its notice, (8) a representation that such stockholder, such beneficial owner and/or any Stockholder Associated
Person has complied, and will comply, with all applicable requirements of state law and the Exchange Act with respect to matters set
forth in this Section 1.11, and (9) a representation whether such stockholder, such beneficial owner and/or any Stockholder
Associated Person intends or is part of a group that intends (x) to deliver a proxy statement and/or form of proxy to holders of at
least the percentage of the Corporation&rsquo;s outstanding capital stock reasonably believed by such stockholder or such beneficial
owner to be sufficient to elect the nominee (and such representation shall be included in any such proxy statement and form of
proxy) and/or (y) otherwise to solicit proxies or votes from stockholders in support of such nomination (and such representation
shall be included in any such solicitation materials). Not later than 10 days after the record date for the meeting, the information
required by Items (A)(1)-(5) and (B)(1)-(6) of the prior sentence shall be supplemented by the stockholder giving the notice to
provide updated information as of the record date. In addition, to be effective, the stockholder&rsquo;s notice must also be
accompanied by the written consent of the proposed nominee to being named in the Corporation&rsquo;s proxy statement and
accompanying proxy card as a nominee and to serve as a director if elected. The Corporation may require any proposed nominee to
furnish such other information as the Corporation may reasonably require to determine, among other things, the eligibility of such
proposed nominee to serve as a director of the Corporation or whether such nominee would be independent under applicable Securities
and Exchange Commission and stock exchange rules and the Corporation&rsquo;s publicly disclosed corporate governance guidelines.
Notwithstanding anything herein to the contrary, a stockholder shall not have complied with this Section 1.11(b) if the stockholder,
beneficial owner and/or any Stockholder Associated Person solicits or does not solicit, as the case may be, proxies or votes in
support of such stockholder&rsquo;s nominee in contravention of the representations with respect thereto required by this Section
1.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 23.75pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">Such notice
must also be accompanied by a representation as to whether or not such stockholder, beneficial owner and/or any Stockholder
Associated Person intends to solicit proxies in support of any director nominees other than the Corporation&rsquo;s nominees in
accordance with Rule 14a-19 under the Exchange Act, and, where such stockholder, beneficial owner and/or Stockholder Associated
Person intends to so solicit proxies, the notice and information required by Rule 14a-19(b) under the Exchange Act. Notwithstanding
anything to the contrary in these bylaws, unless otherwise required by law, if any stockholder, beneficial owner and/or Stockholder
Associated Person (i) provides notice pursuant to Rule 14a-19(b) under the Exchange Act and (ii) subsequently fails to comply with
the requirements of Rule 14a-19(a)(2) and Rule 14a- 19(a)(3) under the Exchange Act (or fails to timely provide reasonable evidence
sufficient to satisfy the Corporation that such stockholder, beneficial owner and/or Stockholder Associated Person has met the
requirements of Rule 14a-19(a)(3) promulgated under the Exchange Act in accordance with the following sentence), then the nomination
of each of the director nominees proposed by such stockholder, beneficial owner and/or Stockholder Associated Person shall be
disregarded, notwithstanding that proxies or votes in respect of the election of such proposed nominees may have been received by
the Corporation (which proxies and votes shall be disregarded). Upon request by the Corporation, if any stockholder, beneficial
owner and/or Stockholder Associated Person provides notice pursuant to Rule 14a-19(b) under the Exchange Act, such stockholder,
beneficial owner and/or Stockholder Associated Person shall deliver to the Corporation, no later than five business days prior to
the applicable meeting, reasonable evidence that it has met the requirements of Rule 14a-19(a)(3) under the Exchange Act.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(c) The
chairman of any meeting (and, in advance of any meeting, the Board) shall have the power and duty to determine whether a nomination was
made in accordance with the provisions of this Section 1.11 (including whether the stockholder, beneficial owner and/or any Stockholder
Associated Person did or did not so solicit, as the case may be, proxies or votes in support of such stockholder&rsquo;s nominee in compliance
with the representations with respect thereto required by this Section 1.11), and if the chairman (or the Board) should determine that
a nomination was not made in accordance with the provisions of this Section 1.11, the chairman shall so declare to the meeting and such
nomination shall not be brought before the meeting.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(d) Except
as otherwise required by law (including Rule 14a-19 under the Exchange Act), nothing in this Section 1.11 shall obligate the Corporation
or the Board to include in any proxy statement, proxy card or other stockholder communication distributed on behalf of the Corporation
or the Board the name of or other information with respect to any nominee for director submitted by a stockholder.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(e)
Notwithstanding the foregoing provisions of this Section 1.11, unless otherwise required by law, if the stockholder (or a qualified
representative of the stockholder) does not appear at the meeting to present a nomination, such nomination shall not be brought
before the meeting, notwithstanding that proxies in respect of such nominee may have been received by the Corporation. For purposes
of this Section 1.11, to be considered a &ldquo;qualified representative of the stockholder&rdquo;, a person must be a duly
authorized officer, manager or partner of such stockholder or must be authorized by a written instrument executed by such
stockholder or an electronic transmission delivered by such stockholder to act for such stockholder as proxy at the meeting of
stockholders and such person must produce such written instrument or electronic transmission, or a reliable reproduction of the
written instrument or electronic transmission, at the meeting of stockholders.</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-align: left"></P>

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<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 0pt 0pt; text-align: justify; text-indent: 0.5in">(f) For
purposes of this Section 1.11, &ldquo;public disclosure&rdquo; shall include disclosure in a press release reported by the Dow Jones News
Service, Associated Press or comparable national news service or in a document publicly filed by the Corporation with the Securities and
Exchange Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(g) Unless
the Corporation elects otherwise, a stockholder&rsquo;s notice to the Corporation of nominations shall be in writing exclusively (and
not in an electronic transmission) and shall be delivered exclusively by hand (including, without limitation, overnight courier service)
or by certified or registered mail, return receipt requested, and the Corporation shall not be required to accept delivery of any document
not in such written form or so delivered.</P>

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

<P STYLE="margin-left: 0.25in; text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> 1.12 <U>Notice of Business at Annual Meetings</U>.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(a) 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) specified in the notice of meeting (or any supplement thereto) given
by or at the direction of the Board, (ii) otherwise properly brought before the meeting by or at the direction of the Board, or (iii)
properly brought before the meeting by a stockholder. For business to be properly brought before an annual meeting by a stockholder, (A)
if such business relates to the nomination of a person for election as a director of the Corporation, the procedures in Section 1.11 must
be complied with and (B) if such business relates to any other matter, the business must constitute a proper matter under Delaware law
for stockholder action and the stockholder must (x) have given timely notice thereof in writing to the Secretary in accordance with the
procedures in, and otherwise complied with, Section 1.12(b), (y) be a stockholder of record who is entitled to vote on such business on
the date of the giving of such notice and on the record date for the determination of stockholders entitled to vote at such annual meeting
and (z) be entitled to vote at such annual meeting.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(b) To be
timely, a stockholder&rsquo;s notice must be received in writing by the Secretary at the principal executive office of the
Corporation not less than 90 days nor more than 120 days prior to the first anniversary of the preceding year&rsquo;s annual
meeting; provided, however, that in the event that the date of the annual meeting is advanced by more than 30 days, or delayed by
more than 60 days, from the first anniversary of the preceding year&rsquo;s annual meeting, or if no annual meeting was held or
deemed to have been held in the preceding year, a stockholder&rsquo;s notice must be so received not earlier than the
120<SUP>th</SUP> day prior to such annual meeting and not later than the close of business on the later of (x) the 90<SUP>th</SUP>
day prior to such annual meeting and (y) the 10<SUP>th</SUP> day following the day on which notice of the date of such annual
meeting was given or public disclosure of the date of such annual meeting was made, whichever first occurs. In no event shall the
adjournment or postponement of an annual meeting (or the public disclosure thereof) commence a new time period (or extend any time
period) for the giving of a stockholder&rsquo;s notice.</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-align: left"></P>

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<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 0pt 0pt; text-align: justify; text-indent: 0.25in">The
stockholder&rsquo;s notice to the Secretary shall set forth: (A) as to each matter the stockholder proposes to bring before the
annual meeting (1) a brief description of the business desired to be brought before the annual meeting, (2) the text of the proposal
(including the exact text of any resolutions proposed for consideration and, in the event that such business includes a proposal to
amend the bylaws, the exact text of the proposed amendment), and (3) the reasons for conducting such business at the annual meeting,
and (B) as to the stockholder giving the notice and the beneficial owner, if any, on whose behalf the proposal is being made (1) the
name and address of such stockholder, as they appear on the Corporation&rsquo;s books, and of such beneficial owner, (2) the class
and series and number of shares of stock of the Corporation that are, directly or indirectly, owned, beneficially or of record, by
such stockholder and such beneficial owner, (3) a description of any material interest of such stockholder, such beneficial owner
and/or any Stockholder Associated Person in the business proposed to be brought before the annual meeting, (4) a description of any
agreement, arrangement or understanding between or among such stockholder, such beneficial owner, any Stockholder Associated Person
and any other person or persons (including their names) in connection with the proposal of such business or who may participate in
the solicitation of proxies in favor of such proposal, (5) a description of any agreement, arrangement or understanding (including
any derivative or short positions, swaps, profit interests, options, warrants, convertible securities, stock appreciation or similar
rights, hedging transactions, and borrowed or loaned shares) that has been entered into by, or on behalf of, such stockholder, such
beneficial owner and/or any Stockholder Associated Person, the effect or intent of which is to mitigate loss to, manage risk or
benefit of share price changes for, or increase or decrease the voting power of, such stockholder, such beneficial owner and/or any
Stockholder Associated Person with respect to shares of stock of the Corporation, (6) any other information relating to such
stockholder, such beneficial owner and/or any Stockholder Associated Person that would be required to be disclosed in a proxy
statement or other filings required to be made in connection with solicitations of proxies for the business proposed pursuant to
Section 14 of the Exchange Act and the rules and regulations promulgated thereunder, (7) a representation that such stockholder
intends to appear in person or by proxy at the annual meeting to bring such business before the meeting, (8) a representation that
such stockholder, such beneficial owner and/or any Stockholder Associated Person has complied, and will comply, with all applicable
requirements of state law and the Exchange Act with respect to matters set forth in this Section 1.12, and (9) a representation
whether such stockholder, such beneficial owner and/or any Stockholder Associated Person intends or is part of a group that intends
(x) to deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporation&rsquo;s outstanding
capital stock required to approve or adopt the proposal (and such representation shall be included in any such proxy statement and
form of proxy) and/or (y) otherwise to solicit proxies or votes from stockholders in support of such proposal (and such
representation shall be included in any such solicitation materials). Not later than 10 days after the record date for the meeting,
the information required by Items (A)(3) and (B)(1)-(6) of the prior sentence shall be supplemented by the stockholder giving the
notice to provide updated information as of the record date. Notwithstanding anything in these bylaws to the contrary, no business
shall be conducted at any annual meeting of stockholders except in accordance with the procedures in this Section 1.12; provided
that any stockholder proposal that complies with Rule 14a-8 of the proxy rules (or any successor provision) promulgated under the
Exchange Act and is to be included in the Corporation&rsquo;s proxy statement for an annual meeting of stockholders shall be deemed
to comply with the notice requirements of this Section 1.12. Notwithstanding anything herein to the contrary, a stockholder shall
not have complied with this Section 1.12(b) if the stockholder, beneficial owner and/or any Stockholder Associated Person solicits
or does not solicit, as the case may be, proxies or votes in support of such stockholder&rsquo;s proposal in contravention of the
representations with respect thereto required by this Section 1.12.</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-align: left"></P>

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<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 0pt 0pt; text-align: justify; text-indent: 0.5in">(c) The
chairman of any annual meeting (and, in advance of any annual meeting, the Board) shall have the power and duty to determine whether business
was properly brought before the annual meeting in accordance with the provisions of this Section 1.12 (including whether the stockholder,
beneficial owner and/or any Stockholder Associated Person did or did not so solicit, as the case may be, proxies or votes in support of
such stockholder&rsquo;s proposal in compliance with the representation with respect thereto required by this Section 1.12), and if the
chairman (or the Board) should determine that business was not properly brought before the annual meeting in accordance with the provisions
of this Section 1.12, the chairman of the meeting shall so declare to the meeting and such business shall not be brought before the annual
meeting.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(d) Except
as otherwise required by law, nothing in this Section 1.12 shall obligate the Corporation or the Board to include in any proxy statement
or other stockholder communication distributed on behalf of the Corporation or the Board information with respect to any proposal submitted
by a stockholder.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(e) Notwithstanding
the foregoing provisions of this Section 1.12, unless otherwise required by law, if the stockholder (or a qualified representative of
the stockholder) does not appear at the annual meeting to present business, such business shall not be considered, notwithstanding that
proxies in respect of such business may have been received by the Corporation.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(f) For
purposes of this Section 1.12, the terms &ldquo;qualified representative of the stockholder&rdquo; and &ldquo;public disclosure&rdquo;
shall have the same meaning as in Section 1.11.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(g) Unless
the Corporation elects otherwise, a stockholder&rsquo;s notice to the Corporation of other business shall be in writing exclusively (and
not in an electronic transmission) and shall be delivered exclusively by hand (including, without limitation, overnight courier service)
or by certified or registered mail, return receipt requested, and the Corporation shall not be required to accept delivery of any document
not in such written form or so delivered.</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-left: 0.25in; margin-top: 0pt; margin-bottom: 0pt"> 1.13 <U>Conduct of Meetings</U>.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(a) Unless
otherwise provided by the Board, meetings of stockholders shall be presided over by the Chairman of the Board, if any, or in the Chairman&rsquo;s
absence by the Vice Chairman of the Board, if any, or in the Vice Chairman&rsquo;s absence by the Chief Executive Officer, or in the Chief
Executive Officer&rsquo;s absence by the President, or in the President&rsquo;s absence by a Vice President, or in the absence of all
of the foregoing persons by a chairman designated by the Board. The Secretary shall act as secretary of the meeting, but in the Secretary&rsquo;s
absence the chairman of the meeting may appoint any person to act as secretary of the meeting.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.5in">(b) The
Board may adopt by resolution such rules, regulations and procedures for the conduct of any meeting of stockholders of the Corporation
as it shall deem appropriate including, without limitation, such guidelines and procedures as it may deem appropriate regarding the participation
by means of remote communication of stockholders and proxyholders not physically present at a meeting. Except to the extent inconsistent
with such rules, regulations and procedures as adopted by the Board, the chairman of any meeting of stockholders shall have the right
and authority to convene and (for any or no reason) to recess and/or adjourn the meeting and prescribe such rules, regulations and procedures
and to do all such acts as, in the judgment of such chairman, are appropriate for the proper conduct of the meeting. Such rules, regulations
or procedures, whether adopted by the Board or prescribed by the chairman of the meeting, may include, without limitation, the following:
(i) the establishment of an agenda or order of business for the meeting; (ii) rules and procedures for maintaining order at the meeting
and the safety of those present; (iii) limitations on attendance at or participation in the meeting to stockholders entitled to vote at
the meeting, their duly authorized and constituted proxies or such other persons as shall be determined by the Board or the chairman of
any meeting; (iv) restrictions on entry to the meeting after the time fixed for the commencement thereof; and (v) limitations on the time
allotted to questions or comments by participants. Unless and to the extent determined by the Board or the chairman of the meeting, meetings
of stockholders shall not be required to be held in accordance with the rules of parliamentary procedure.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(c) The
chairman of the meeting shall announce at the meeting when the polls for each matter to be voted upon at the meeting will be opened and
closed. After the polls close, no ballots, proxies or votes or any revocations or changes thereto may be accepted.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(d) In
advance of any meeting of stockholders, the Corporation shall appoint one or more inspectors of election to act at the meeting and make
a written report thereof. One or more other persons may be designated as alternate inspectors to replace any inspector who fails to act.
If no inspector or alternate is present, ready and willing to act at a meeting of stockholders, the chairman of the meeting shall appoint
one or more inspectors to act at the meeting. Unless otherwise required by law, inspectors may be officers, employees or agents of the
Corporation. Each inspector, before entering upon the discharge of such inspector&rsquo;s duties, shall take and sign an oath faithfully
to execute the duties of inspector with strict impartiality and according to the best of such inspector&rsquo;s ability. The inspector
shall have the duties prescribed by law and, when the vote is completed, shall make a certificate of the result of the vote taken and
of such other facts as may be required by law. Every vote taken by ballots shall be counted by a duly appointed inspector or duly appointed
inspectors.</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 0pt 0pt; text-align: justify; text-indent: 0.25in">1.14 <U>No
Action by Consent in Lieu of a Meeting</U>. Except as otherwise provided by the Certificate of Incorporation, stockholders of the Corporation
may not take any action by consent in lieu of a meeting of stockholders.</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-align: left"></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
II<BR>
 DIRECTORS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.1 <U>General
Powers</U>. The business and affairs of the Corporation shall be managed by or under the direction of a Board, who may exercise all of
the powers of the Corporation except as otherwise provided by law or the Certificate of Incorporation.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.2 <U>Number,
Election and Qualification</U>. The number of directors of the Corporation shall be the number fixed by, or determined in the manner provided
in, the Certificate of Incorporation. Election of directors need not be by written ballot. Directors need not be stockholders of the Corporation.
In no case will a decrease in the number of directors shorten the term of any incumbent director.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.3 <U>Chairman
of the Board; Vice Chairman of the Board</U>. The Board may appoint from its members a Chairman of the Board and a Vice Chairman of the
Board, neither of whom need be an employee or officer of the Corporation. If the Board appoints a Chairman of the Board, such Chairman
shall perform such duties and possess such powers as are assigned by the Board and, if the Chairman of the Board is also designated as
the Corporation&rsquo;s Chief Executive Officer, shall have the powers and duties of the Chief Executive Officer prescribed in Section
3.7 of these bylaws. If the Board appoints a Vice Chairman of the Board, such Vice Chairman shall perform such duties and possess such
powers as are assigned by the Board or the Chairman of the Board. Unless otherwise provided by the Board, the Chairman of the Board or,
in the Chairman&rsquo;s absence, the Vice Chairman of the Board, if any, shall preside at all meetings of the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.4 <U>Terms
of Office</U>. Directors shall be elected for such terms and in the manner provided by the Certificate of Incorporation and applicable
law. The term of each director shall continue until the election and qualification of his or her successor and be subject to his or her
earlier death, resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 68.95pt; text-align: justify; text-indent: -39pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0in; text-align: justify; text-indent: 0.25in">2.5 <U>Quorum</U>. The greater of (a) a
majority of the directors at any time in office and (b) one-third of the number of directors established by the Board pursuant to
the Certificate of Incorporation shall constitute a quorum of the Board. If at any meeting of the Board there shall be less than
such a quorum, a majority of the directors present may adjourn the meeting from time to time without further notice other than
announcement at the meeting, until a quorum shall be present.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.6 <U>Action
at Meeting</U>. Every act or decision done or made by a majority of the directors present at a meeting duly held at which a quorum is
present shall be regarded as the act of the Board, unless a greater number is required by law or by the Certificate of Incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.95pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.7 <U>Removal</U>.
Directors of the Corporation may be removed in the manner specified by the Certificate of Incorporation and applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.8 <U>Vacancies</U>.
Any vacancy or newly-created directorship on the Board, however occurring, shall be filled in the manner specified by the Certificate
of Incorporation and applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.9 <U>Resignation</U>.
Any director may resign by delivering a resignation in writing or by electronic transmission to the Corporation at its principal executive
office or to the Chairman of the Board, the Chief Executive Officer, the President or the Secretary. Such resignation shall be effective
upon receipt unless it is specified to be effective at some later time or upon the happening of some later event.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.10 <U>Regular
Meetings</U>. Regular meetings of the Board may be held without notice at such time and place as shall be determined from time to
time by the Board; provided that any director who is absent when such a determination is made shall be given notice of the
determination. A regular meeting of the Board may be held without notice immediately after and at the same place as the annual
meeting of stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.11 <U>Special
Meetings</U>. Special meetings of the Board may be held at any time and place designated in a call by the Chairman of the Board, the Chief
Executive Officer, the President, two or more directors, or by one director in the event that there is only a single director in office.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.12 <U>Notice
of Special Meetings</U>. Notice of the time and place of any special meeting of directors shall be given to each director by the Secretary
or by the officer or one of the directors calling the meeting. Notice shall be duly given to each director (a) in person, by telephone
or by electronic transmission at least 24 hours in advance of the meeting, (b) by delivering written notice by hand, to such director&rsquo;s
last known business or home address at least 48 hours in advance of the meeting, or (c) by sending written notice by first-class mail
to such director&rsquo;s last known business or home address at least 72 hours in advance of the meeting. A notice or waiver of notice
of a meeting of the Board need not specify the purposes of the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.13 <U>Meetings
by Conference Communications Equipment</U>. Directors may participate in meetings of the Board or any committee thereof by means of conference
telephone or other communications equipment by means of which all persons participating in the meeting can hear each other, and participation
by such means shall constitute presence in person at such meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.14 <U>Action
by Consent</U>. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken without
a meeting if all members of the Board or committee, as the case may be, consent to the action in writing or by electronic transmission.
After an action is taken, the consent or consents relating thereto shall be filed with the minutes of proceedings of the Board or committee
in the same paper or electronic form as the minutes are maintained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.6pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.15 <U>Committees</U>.
The Board may designate one or more committees, each committee to consist of one or more of the directors of the Corporation with such
lawfully delegable powers and duties as the Board thereby confers, to serve at the pleasure of the Board. 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 a member of a committee, the member or members of the committee 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 the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the
Board and subject to the provisions of law, shall have and may exercise all the powers and authority of the Board in the management of
the business and affairs of the Corporation and may authorize the seal of the Corporation to be affixed to all papers that may require
it. Each such committee shall keep minutes and make such reports as the Board may from time to time request. Except as the Board may otherwise
determine, any committee may make rules for the conduct of its business, but unless otherwise provided by the directors or in such rules,
its business shall be conducted as nearly as possible in the same manner as is provided in these bylaws for the Board. Except as otherwise
provided in the Certificate of Incorporation, these bylaws, or the resolution of the Board designating the committee, a committee may
create one or more subcommittees, each subcommittee to consist of one or more members of the committee, and delegate to a subcommittee
any or all of the powers and authority of the committee.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 23.75pt"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 23.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">2.16 <U>Emergency
Bylaws</U>. In the event of any emergency, disaster, catastrophe or other similar emergency condition of a type described in Section 110(a)
of the DGCL (an &ldquo;<B>Emergency</B>&rdquo;), notwithstanding any different or conflicting provisions in the DGCL, the Certificate
of Incorporation or these bylaws, during such Emergency:</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(a) <U>Notice</U>.
A meeting of the Board or a committee thereof may be called by any director, the Chairman of the Board, the Chief Executive Officer, the
President or the Secretary by such means as, in the judgment of the person calling the meeting, may be feasible at the time, and notice
of any such meeting of the Board or any committee may be given, in the judgment of the person calling the meeting, only to such directors
as it may be feasible to reach at the time and by such means as may be feasible at the time. Such notice shall be given at such time in
advance of the meeting as, in the judgment of the person calling the meeting, circumstances permit.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(b) <U>Quorum</U>.
The director or directors in attendance at a meeting called in accordance with Section 2.16(a) shall constitute a quorum.</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 0pt 0pt; text-align: justify; text-indent: 0.5in">(c) <U>Liability</U>.
No officer, director or employee acting in accordance with this Section 2.16 shall be liable except for willful misconduct. No amendment,
repeal or change to this Section 2.16 shall modify the prior sentence with regard to actions taken prior to the time of such amendment,
repeal or change.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE III <BR>
OFFICERS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.1 <U>Titles</U>.
The officers of the Corporation shall consist of a Chief Executive Officer, a President, a Secretary, a Treasurer and such other officers
with such other titles as the Board shall determine, including one or more Vice Presidents, Assistant Treasurers and Assistant Secretaries.
The Board may appoint such other officers as it may deem appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.95pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.2 <U>Election</U>.
The Chief Executive Officer, President, Treasurer and Secretary shall be elected annually by the Board at its first meeting following
the annual meeting of stockholders. Other officers may be appointed by the Board at such meeting or at any other meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.3 <U>Qualification</U>.
No officer need be a stockholder. Any two or more offices may be held by the same person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.4 <U>Tenure</U>.
Except as otherwise provided by law, the Certificate of Incorporation or these bylaws, each officer shall hold office until such officer&rsquo;s
successor is elected and qualified, unless a different term is specified in the resolution electing or appointing such officer, or until
such officer&rsquo;s earlier death, resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.5 <U>Resignation
and Removal</U>. Any officer may resign by delivering a resignation in writing or by electronic transmission to the Corporation at
its principal executive office or to the Chief Executive Officer, the President or the Secretary. Such resignation shall be
effective upon receipt unless it is specified to be effective at some later time or upon the happening of some later event. Any
officer may be removed at any time, with or without cause, by the Board. Except as the Board may otherwise determine, no officer who
resigns or is removed shall have any right to any compensation as an officer for any period following such officer&rsquo;s
resignation or removal, or any right to damages on account of such removal, whether such officer&rsquo;s compensation be by the
month or by the year or otherwise, unless such compensation is expressly provided for in a duly authorized written agreement with
the Corporation.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.6 <U>Vacancies</U>.
The Board may fill any vacancy occurring in any office for any reason and may, in its discretion, leave unfilled for such period as it
may determine any offices. Each such successor shall hold office for the unexpired term of such officer&rsquo;s predecessor and until
a successor is elected and qualified, or until such officer&rsquo;s earlier death, resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.7 <U>President;
Chief Executive Officer</U>. Unless the Board has designated another person as the Corporation&rsquo;s Chief Executive Officer, the President
shall be the Chief Executive Officer of the Corporation. The Chief Executive Officer shall have general charge and supervision of the
business of the Corporation subject to the direction of the Board, and shall perform all duties and have all powers that are commonly
incident to the office of the chief executive or that are delegated to such officer by the Board. The President shall perform such other
duties and shall have such other powers as the Board or the Chief Executive Officer (if the President is not the Chief Executive Officer)
may from time to time prescribe. In the event of the absence, inability or refusal to act of the Chief Executive Officer or the President
(if the President is not the Chief Executive Officer), the Vice President (or if there shall be more than one, the Vice Presidents in
the order determined by the Board ) shall perform the duties of the Chief Executive Officer and when so performing such duties shall have
all the powers of and be subject to all the restrictions upon the Chief Executive Officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.8 <U>Vice
Presidents</U>. Each Vice President shall perform such duties and possess such powers as the Board or the Chief Executive Officer may
from time to time prescribe. The Board may assign to any Vice President the title of Executive Vice President, Senior Vice President or
any other title selected by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.9 <U>Secretary
and Assistant Secretaries</U>. The Secretary shall perform such duties and shall have such powers as the Board or the Chief Executive
Officer may from time to time prescribe. In addition, the Secretary shall perform such duties and have such powers as are incident to
the office of the secretary, including without limitation the duty and power to give notices of all meetings of stockholders and special
meetings of the Board, to attend all meetings of stockholders and the Board and keep a record of the proceedings, to maintain a stock
ledger and prepare lists of stockholders and their addresses as required, to be custodian of corporate records and the corporate seal
and to affix and attest to the same on documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">Any Assistant
Secretary shall perform such duties and possess such powers as the Board, the Chief Executive Officer or the Secretary may from time to
time prescribe. In the event of the absence, inability or refusal to act of the Secretary, the Assistant Secretary (or if there shall
be more than one, the Assistant Secretaries in the order determined by the Board) shall perform the duties and exercise the powers of
the Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">In the absence
of the Secretary or any Assistant Secretary at any meeting of stockholders or directors, the chairman of the meeting shall designate a
temporary secretary to keep a record of the meeting.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.10 <U>Treasurer
and Assistant Treasurers</U>. The Treasurer shall perform such duties and shall have such powers as may from time to time be
assigned by the Board or the Chief Executive Officer. In addition, the Treasurer shall perform such duties and have such powers as
are incident to the office of treasurer, including without limitation the duty and power to keep and be responsible for all funds
and securities of the Corporation, to deposit funds of the Corporation in depositories selected in accordance with these bylaws, to
disburse such funds as ordered by the Board, to make proper accounts of such funds, and to render as required by the Board
statements of all such transactions and of the financial condition of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">The Assistant
Treasurers shall perform such duties and possess such powers as the Board, the Chief Executive Officer or the Treasurer may from time
to time prescribe. In the event of the absence, inability or refusal to act of the Treasurer, the Assistant Treasurer (or if there shall
be more than one, the Assistant Treasurers in the order determined by the Board) shall perform the duties and exercise the powers of the
Treasurer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.11 <U>Salaries</U>.
Officers of the Corporation shall be entitled to such salaries, compensation or reimbursement as shall be fixed or allowed from time to
time by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">3.12 <U>Delegation
of Authority</U>. The Board may from time to time delegate the powers or duties of any officer to any other officer or agent, notwithstanding
any provision hereof.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
IV<BR>
 CAPITAL STOCK</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">4.1 <U>Issuance
of Stock</U>. Subject to the provisions of the Certificate of Incorporation, the whole or any part of any unissued balance of the authorized
capital stock of the Corporation or the whole or any part of any shares of the authorized capital stock of the Corporation held in the
Corporation&rsquo;s treasury may be issued, sold, transferred or otherwise disposed of by vote of the Board in such manner, for such lawful
consideration and on such terms as the Board may determine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">4.2 <U>Stock
Certificates; Uncertificated Shares</U>. The shares of the Corporation shall 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 Corporation&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 Corporation.
Every holder of stock of the Corporation represented by certificates shall be entitled to have a certificate, in such form as may be prescribed
by law and by the Board, representing the number of shares held by such holder registered in certificate form. Each such certificate shall
be signed in a manner that complies with Section 158 of the DGCL by or in the name of any two officers of the Corporation, each of whom
is an authorized officer for this purpose.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">Each certificate
representing shares of stock that are subject to any restriction on transfer pursuant to the Certificate of Incorporation, these bylaws,
applicable securities laws or any agreement among any number of stockholders or among such holders and the Corporation shall have conspicuously
noted on the face or back of the certificate either the full text of the restriction or a statement of the existence of such restriction.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">If the
Corporation shall be authorized to issue more than one class of stock or more than one series of any class, the powers,
designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof and
the qualifications, limitations or restrictions of such preferences and/or rights shall be set forth in full or summarized on the
face or back of each certificate representing shares of such class or series of stock, provided that in lieu of the foregoing
requirements there may be set forth on the face or back of each certificate representing shares of such class or series of stock a
statement that the Corporation will furnish without charge to each stockholder who so requests a copy of the full text of the
powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series
thereof and the qualifications, limitations or restrictions of such preferences and/or rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">Within a reasonable
time after the issuance or transfer of uncertificated shares, the registered owner thereof shall be given a notice, in writing or by electronic
transmission, containing the information required to be set forth or stated on certificates pursuant to Sections 151, 156, 202(a) or 218(a)
of the DGCL or, with respect to Section 151 of the DGCL, a statement that the Corporation will furnish without charge to each stockholder
who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock
or series thereof and the qualifications, limitations or restrictions of such preferences and/or rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.65pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">4.3 <U>Transfers</U>.
Shares of stock of the Corporation shall be transferable in the manner prescribed by law and in these bylaws. Transfers of shares of stock
of the Corporation shall be made only on the books of the Corporation or by transfer agents designated to transfer shares of stock of
the Corporation. Subject to applicable law, shares of stock represented by certificates shall be transferred only on the books of the
Corporation by the surrender to the Corporation or its transfer agent of the certificate representing such shares properly endorsed or
accompanied by a written assignment or power of attorney properly executed, and with such proof of authority or the authenticity of signature
as the Corporation or its transfer agent may reasonably require. Uncertificated shares may be transferred by delivery of a written assignment
or power of attorney properly executed, and with such proof of authority or the authenticity of signature as the Corporation or its transfer
agent may reasonably require. Except as may be otherwise required by law, the Certificate of Incorporation or these bylaws, the Corporation
shall be entitled to treat the record holder of stock as shown on its books as the owner of such stock for all purposes, including the
payment of dividends and the right to vote with respect to such stock, regardless of any transfer, pledge or other disposition of such
stock until the shares have been transferred on the books of the Corporation in accordance with the requirements of these bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.65pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">4.4 <U>Lost,
Stolen or Destroyed Certificates</U>. The Corporation may issue a new certificate of stock or uncertificated shares in place of any previously
issued certificate alleged to have been lost, stolen or destroyed, upon such terms and conditions as the Corporation may prescribe, including
the presentation of reasonable evidence of such loss, theft or destruction and the giving of such indemnity and posting of such bond as
the Corporation may require for the protection of the Corporation or any transfer agent or registrar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.9pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">4.5 <U>Regulations</U>.
The issue, transfer, conversion and registration of shares of stock of the Corporation shall be governed by such other regulations as
the Board may establish.</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-align: left"></P>

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    <!-- Field: /Page -->

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
V<BR>
 GENERAL PROVISIONS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.1 <U>Fiscal
Year</U>. Except as from time to time otherwise designated by the Board, the fiscal year of the Corporation shall begin on the first day
of January of each year and end on the last day of December in each year.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.9pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.9pt 0pt 0pt; text-align: justify; text-indent: 0.25in">5.2 <U>Corporate
Seal</U>. The corporate seal shall be in such form as shall be approved by the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.3 <U>Record
Date for Purposes Other Than Stockholder Meetings</U>. In order that the Corporation may determine the stockholders entitled to receive
payment of any dividend or other distribution or allotment of any rights, entitled to exercise any rights in respect of any change, conversion
or exchange of stock, or for the purpose of any other lawful action (other than with respect to determining stockholders entitled to notice
of and/or to vote at a meeting of stockholders, which is addressed in Section 1.4 of these bylaws), the Board may fix a record date, which
shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall not be more than 60
days prior to such action. If no such record date is fixed, the record date for determining stockholders for any such 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 15.7pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.4 <U>Waiver
of Notice</U>. Whenever notice is required to be given by law, the Certificate of Incorporation or these bylaws, a written waiver signed
by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether provided before, at
or after the time of the event for which notice is to be given, shall be deemed equivalent to notice required to be given to such person.
Neither the business nor the purpose of any meeting need be specified in any such waiver. Attendance of a person at a meeting shall constitute
a waiver of notice of such meeting, except when the person attends a meeting for the express purpose of objecting at the beginning of
the meeting, to the transaction of any business because the meeting is not lawfully called or convened.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.5 <U>Voting
of Securities</U>. Except as the Board may otherwise designate, the Chief Executive Officer, the President, the Secretary or the Treasurer
may waive notice of, vote, or appoint any person or persons to vote, on behalf of the Corporation at, and act as, or appoint any person
or persons to act as, proxy or attorney-in-fact for this Corporation (with or without power of substitution) at, any meeting of stockholders
or securityholders of any other entity, the securities of which may be held by this Corporation, or with respect to the execution of any
written or electronic consent in the name of the Corporation as a holder of such securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.6 <U>Evidence
of Authority</U>. A certificate by the Secretary, or an Assistant Secretary, or a temporary Secretary, as to any action taken by the stockholders,
directors, a committee or any officer or representative of the Corporation shall as to all persons who rely on the certificate in good
faith be conclusive evidence of such action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.7 <U>Certificate
of Incorporation</U>. All references in these bylaws to the Certificate of Incorporation shall be deemed to refer to the Certificate of
Incorporation of the Corporation, as amended and/or restated and in effect from time to time, including the terms of any certificate of
designations of any series of preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.8 <U>Severability</U>.
Any determination that any provision of these bylaws is for any reason inapplicable, illegal or ineffective shall not affect or invalidate
any other provision of these bylaws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 15.85pt 0pt 0pt; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">5.9 <U>Pronouns</U>.
All pronouns used in these bylaws shall be deemed to refer to the masculine, feminine or neuter, singular or plural, as the identity of
the person or persons may require.</P>

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">ARTICLE
VI <BR>
AMENDMENTS</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: 0.25in">These bylaws may
be altered, amended or repealed, in whole or in part, or new bylaws may be adopted by the Board or by the stockholders as provided in
the Certificate of Incorporation.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">- 17 -</P>

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