<SEC-DOCUMENT>0001140361-21-011567.txt : 20210405
<SEC-HEADER>0001140361-21-011567.hdr.sgml : 20210405
<ACCEPTANCE-DATETIME>20210405143921
ACCESSION NUMBER:		0001140361-21-011567
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210401
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Changes in Control of Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210405
DATE AS OF CHANGE:		20210405

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWAY FINANCIAL CORP \DE\
		CENTRAL INDEX KEY:			0001001171
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				954547287
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39043
		FILM NUMBER:		21804907

	BUSINESS ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
		BUSINESS PHONE:		3236341700

	MAIL ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>brhc10022765_8k.htm
<DESCRIPTION>8-K
<TEXT>
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    <div style="text-align: center; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM&#160;8-K</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">Date of Report (Date of earliest event reported):<font style="font-weight: bold;"> April 1, 2021</font></div>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">BROADWAY FINANCIAL CORPORATION</div>
    <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
    <div>&#160;</div>
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        <tr>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">001-39043</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">95-4547287</div>
          </td>
        </tr>
        <tr>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(State or other jurisdiction of incorporation or organization)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(Commission File Number)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(I.R.S. Employer Identification Number)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 32%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">5055 Wilshire Boulevard, Suite 500, Los Angeles, California</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">90036</div>
          </td>
        </tr>
        <tr>
          <td colspan="3" style="vertical-align: top;">
            <div style="text-align: center;">(Address of principal executive offices)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
          <td style="width: 32%; vertical-align: top;">
            <div style="text-align: center;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div style="text-align: center;">&#160;</div>
    <div style="text-align: center;">Registrant&#8217;s telephone number, including area code:&#160;&#160;(<font style="font-weight: bold;">323) 634-1700</font></div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">NOT APPLICABLE</div>
    <div style="text-align: center;">(Former name or former address, if changed since last report)</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
    <div>&#160;</div>
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          <td nowrap="nowrap" style="width: 4.62%; vertical-align: top;">
            <div style="text-align: justify;">&#9744;</div>
          </td>
          <td colspan="2" style="width: 95.38%; vertical-align: top;">
            <div style="text-align: justify;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" style="width: 4.62%; vertical-align: top;">
            <div style="text-align: justify;">&#9744;</div>
          </td>
          <td colspan="2" style="width: 95.38%; vertical-align: top;">
            <div style="text-align: justify;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="2" style="width: 4.8%; vertical-align: top;">
            <div style="text-align: justify;">&#9744;</div>
          </td>
          <td style="width: 95.2%; vertical-align: top;">
            <div style="text-align: justify;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>
        </tr>
        <tr>
          <td nowrap="nowrap" colspan="2" style="width: 4.8%; vertical-align: top;">
            <div style="text-align: justify;">&#9744;</div>
          </td>
          <td style="width: 95.2%; vertical-align: top;">
            <div style="text-align: justify;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>Securities registered pursuant to Section&#160;12(b) of the Act:</div>
    <div>&#160;</div>
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          <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Title of each class</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">&#160;</div>
          </td>
          <td style="width: 24%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Trading Symbol(s)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">&#160;</div>
          </td>
          <td style="width: 36%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Name of each exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 36%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">Class A Common Stock, par value $0.01 per share (including attached preferred stock purchase rights)</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 24%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">BYFC</div>
          </td>
          <td style="width: 2%; vertical-align: top;">
            <div style="text-align: center;">&#160;</div>
          </td>
          <td style="width: 36%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center;">The Nasdaq Stock Market LLC</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2 of this
      chapter).</div>
    <div>&#160;</div>
    <div style="text-align: right;">Emerging growth company&#160;&#9744;</div>
    <div>&#160;</div>
    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
      Act.&#160;&#9744;</div>
    <div>&#160;
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    <!--PROfilePageNumberReset%Num%2%%%-->
    <div><font style="font-weight: bold;">Item 2.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Completion of Acquisition or Disposition of Assets</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">On April 1, 2021, Broadway Financial Corporation (&#8220;Broadway&#8221;) completed its previously announced merger transaction with CFBanc Corporation (&#8220;CFBanc&#8221;) pursuant to the Agreement and Plan of Merger
      dated as of August 25, 2020, as amended by Amendment No. 1 thereto dated January 14, 2021, by and between Broadway and CFBanc (the &#8220;Merger Agreement&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Pursuant to the Merger Agreement, on April 1, 2021 (the &#8220;Effective Time&#8221;): (1) CFBanc merged with and into Broadway (the &#8220;Merger&#8221;), with Broadway continuing as the surviving entity in the Merger (the
      &#8220;Surviving Entity&#8221;); (2) each share of CFBanc&#8217;s Class A Common Stock, par value $0.50 per share (the &#8220;CFBanc Class A Common Stock&#8221;), and Class B Common Stock, par value $0.50 per share (the &#8220;CFBanc Class B Common Stock&#8221; and, together with the CFBanc
      Class A Common Stock, the &#8220;CFBanc Common Stock&#8221;), issued and outstanding immediately prior to the Effective Time were converted, respectively, into 13.626 validly issued, fully paid and nonassessable shares of the Broadway Class A Common Stock, par
      value $0.01 per share (&#8220;Broadway Class A Common Stock&#8221;), and Broadway Class B Common Stock, par value $0.01 per share (&#8220;Broadway Class B Common Stock&#8221; and, together with the Broadway Class A Common Stock, the &#8220;Broadway Common Stock&#8221;); (3) each share
      of Fixed Rate Cumulative Redeemable Perpetual Preferred Stock, Series B, par value $0.50 per share, of CFBanc (&#8220;CFBanc Preferred Stock&#8221;) issued and outstanding immediately prior to the Effective Time were converted into one validly issued, fully paid
      and non-assessable share of Broadway&#8217;s Fixed Rate Cumulative Redeemable Perpetual Preferred Stock, Series A (the &#8220;Broadway Preferred Stock&#8221; and, together with the Broadway Common Stock, the &#8220;Broadway Stock&#8221;), the terms of which are more fully
      described in the amended and restated certificate of incorporation of the Surviving Entity which was attached as Exhibit A to the Certificate of Merger filed with the Secretary of State of the State of Delaware on March 23, 2021, and effective as of
      the Effective Time, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated herein by reference; and (4) immediately following the Merger, Broadway Federal Bank, f.s.b., a wholly owned subsidiary of Broadway
      (&#8220;Broadway Bank&#8221;), merged with and into City First Bank of D.C., National Association, a wholly owned subsidiary of CFBanc (&#8220;City First Bank&#8221;) (the &#8220;Bank Merger&#8221;), with City First Bank continuing as the surviving entity (the &#8220;Surviving Bank&#8221;). The
      Merger Agreement also provides that, subject to the terms and conditions of the Merger Agreement, cash will be paid in lieu of the issuance of fractional shares of Company Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The foregoing description of the Merger Agreement and the transactions contemplated thereby in this Current Report on Form 8-K is only a summary,&#160; does not purport to be complete and is qualified in
      its entirety by reference to the full text of the Merger Agreement, a copy of which is filed as Exhibit 2.1 to the Form 8-K filed by Broadway Financial Corporation on August 26, 2020 and incorporated by reference as Exhibit 2.1 hereto, as amended by
      Amendment No. 1 thereto, a copy of which is filed as Exhibit 2.2 to Form 8-K filed by Broadway Financial Corporation on January 14, 2021 and incorporated by reference as Exhibit 2.2 hereto.</div>
    <div><br>
    </div>
    <div><font style="font-weight: bold;">Item 5.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Changes in Control of Registrant.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">Pursuant to the Merger Agreement, at the Effective Time of the Merger, individuals who were previously directors of CFBanc became a majority of the board of directors of the Surviving Entity, which
      change in board membership may be deemed to constitute a change in control of Broadway.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The information set forth under Items 2.01 and 5.02 of this Current Report on Form 8-K is incorporated by reference into this Item 5.01.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
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    <div><font style="font-weight: bold;">Item 5.02</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-style: italic;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Departure of Principal Executive Officer and Resignation of Directors</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">At the Effective Time of the Merger, and in accordance with the Merger Agreement, Wayne-Kent A. Bradshaw retired from his position as President, Chief Executive Officer of Broadway.&#160; In addition,
      Daniel A. Medina, Virgil Roberts, and Erin Selleck resigned from their positions as&#160; directors of Broadway as contemplated by the Merger Agreement.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-style: italic;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Appointment of New Principal Executive Officer</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">At the Effective Time of the Merger, and in accordance with the Merger Agreement, Brian E. Argrett, 57, became Chief Executive Officer and Vice Chairman of the Board of Directors of the Surviving
      Entity.&#160; Mr. Argrett served as President and Chief Executive Officer of CFBanc since 2011.&#160; Formerly, Mr. Argrett was founder and managing partner of both Fulcrum Capital Group, an investment manager, and Fulcrum Capital Partners, L.P., an
      institutionally-backed private equity limited partnership. He also served as President, Chief Executive Officer, and director of Fulcrum Venture Capital Corporation, a federally licensed and regulated Small Business Investment Company. Prior to
      joining the Fulcrum entities, Mr. Argrett was an attorney with the real estate law firm of Pircher, Nichols &amp; Meeks in Los Angeles, California. Mr. Argrett has served as chair, been a member, or held observer rights on numerous Fulcrum portfolio
      company boards, as well as having served on the boards of directors of other financial industry companies. Mr. Argrett was a presidential appointee to the Community Development Advisory Board under the Obama administration. Mr. Argrett has held
      leadership positions at the National Association of Investment Companies and the National Conference for Community and Justice and has been an elder at the Knox Presbyterian Church. Currently, Mr. Argrett serves as Vice Chairman of the Board of
      Directors of the Federal Home Loan Bank of Atlanta, where he previously served as the Chair of its Enterprise Risk and Operations Committee, as well as being a member of its Finance Committee and its Audit and Compliance Committee. He also serves as
      Chairman of the board of directors of City First Enterprises (&#8220;CFEnterprises&#8221;), which is the bank holding company of CFBanc. Mr. Argrett is the past Chairman and continues to serve on the board of directors of the Community Development Bankers
      Association, serves as a member of the Global Alliance on Banking on Values, and is a member of the Steering Committee of the Expanding Black Business Credit Initiative. Mr. Argrett is also a member of The Economic Club of Washington, D.C., the
      Federal City Council, and the Leadership Greater Washington Class of 2014. In addition, Mr. Argrett is a 2014 recipient of the Washington Business Journal Minority Business Leader Award. Mr. Argrett holds J.D. and M.B.A. degrees from the University
      of California, Berkeley, and a bachelor&#8217;s degree from the McIntire School of Commerce at the University of Virginia. Mr. Argrett will be President and Chief Executive Officer of the combined company.</div>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-style: italic;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Appointment of New Directors</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">At the Effective Time of the Merger, and in accordance with the Merger Agreement, Wayne-Kent A. Bradshaw became Chairman of the Board, and Brian E. Argrett, Marie C. Johns, William A. Longbrake, Mary
      Ann Donovan, and David J. McGrady were appointed as Directors of the Surviving Entity&#160; Ms. Johns has been appointed as the Lead Independent Director of the Surviving Entity, as Chairperson of the Corporate Governance Committee, and as a member of the
      Audit Committee.&#160; Ms. Donovan has been appointed as a member of the Corporate Governance Committee and of the Audit Committee.&#160; Mr. Longbrake has been appointed as Chairperson of the Audit Committee and as a member of the Compensation and Benefits
      Committee.&#160; Mr. McGrady has been appointed as a member of the Compensation and Benefits Committee.</div>
    <div><br>
    </div>
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    <div><font style="font-weight: bold;">Item 9.01</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">Financial Statements and Exhibits.</font></div>
    <div><br>
    </div>
    <div><font style="font-style: italic;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Financial statements of businesses or funds acquired.</font></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">The financial statements of CFBanc required to be provided pursuant to Item 9.01 of Form 8-K will be filed by an amendment to this Current Report on Form 8-K before June 17, 2021.</div>
    <div style="text-indent: 36pt;"><br>
    </div>
    <div><font style="font-style: italic;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Pro forma financial information.</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">The pro forma financial information required to be provided pursuant to Item 9.01 of Form 8-K will be filed by an amendment to this Current Report on Form 8-K before June 17, 2021.</div>
    <div>&#160;</div>
    <div><font style="font-style: italic;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-style: italic;">Exhibits</font></div>
    <div>&#160;</div>
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          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;"><a href="https://www.sec.gov/Archives/edgar/data/1001171/000110465920098621/a20-29334_2ex2d1.htm">2.1</a></td>
          <td style="width: auto; vertical-align: top;">
            <div>Agreement and Plan of Merger, dated as of August 25, 2020, by and between Broadway Financial Corporation and CFBanc Corporation (incorporated by reference to Exhibit 2.1 to Form 8-K filed by Broadway Financial Corporation on August 26,
              2020)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z782d8675837b4cd48a511bc408ae7547">

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          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;"><a href="https://www.sec.gov/Archives/edgar/data/1001171/000114036121001184/brhc10018952_ex2-1.htm">2.2</a></td>
          <td style="width: auto; vertical-align: top;">
            <div>Amendment No. 1 to Agreement and Plan of Merger, dated as of January 14, 2021, by and between Broadway Financial Corporation and CFBanc Corporation (incorporated by reference to Exhibit 2.1 to Form 8-K filed by Broadway Financial
              Corporation on January 14, 2021)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
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        <tr>
          <td style="width: 36pt; vertical-align: top; align: right; font-weight: bold;"><a href="brhc10022765_ex3-1.htm">3.1</a></td>
          <td style="width: auto; vertical-align: top;">
            <div>Amended and Restated Certificate of Incorporation of Broadway Financial Corporation effective as of April 1, 2021.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div>&#160;</div>
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    <div style="text-align: center; margin-right: 0.75pt; margin-left: 0.75pt; font-weight: bold;">SIGNATURE</div>
    <div>&#160;</div>
    <div style="text-align: justify;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z99b0a737a3ad471cafb01b6bd7645e25">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>
              <div>Date:&#160; April 2, 2021</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td colspan="3" style="width: 49%; vertical-align: top;">
            <div>
              <div style="text-align: center;"><font style="font-weight: bold;">BROADWAY FINANCIAL CORPORATION</font> <br>
              </div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td colspan="3" style="width: 49%; vertical-align: top;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 4%; vertical-align: top; padding-bottom: 2px;">
            <div>
              <div>By:</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: top; padding-bottom: 2px;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 44%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>
              <div>/s/ Brenda J. Battey</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: bottom;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div>
              <div style="font-style: italic; font-weight: bold;">&#160;</div>
            </div>
          </td>
          <td style="width: 1%; vertical-align: top;">
            <div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 44%; vertical-align: top;">
            <div>
              <div>Name: Brenda J. Battey</div>
              <div>Title: Chief Financial Officer</div>
            </div>
          </td>
        </tr>

    </table>
    <div style="font-weight: bold;">&#160;</div>
  </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>brhc10022765_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 3.1</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;">AMENDED AND RESTATED</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CERTIFICATE OF INCORPORATION</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">OF</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">BROADWAY FINANCIAL CORPORATION</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">a public benefit corporation</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">FIRST.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The name of this corporation is
        &#8220;Broadway Financial Corporation&#8221;.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">SECOND.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The name and address of this
        corporation&#8217;s registered agent and registered office in the State of Delaware are Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808-1674, County of New Castle.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">THIRD.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The purpose of this corporation
        is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware. Without limitation of the foregoing, this corporation is a public benefit corporation, as provided for in
        Subchapter XV of the Delaware General Corporation Law, that is intended to promote the following public benefits: to, both directly and through its subsidiary bank, create a general and specific public benefit to the District of Columbia, Los
        Angeles, California and other urban communities served by the corporation or its subsidiaries. In particular, the business of the corporation and its subsidiaries will focus on the low- and moderate-income neighborhoods of the District of Columbia,
        Baltimore and their surrounding suburban communities, the Counties of Los Angeles, Ventura, Riverside, Orange, San Diego, San Bernardino and Santa Barbara, California and other urban communities served in ways that are efficient and profitable,
        that increase access to credit and capital for individuals and institutions located therein, and that improve the economic health of the communities located therein. Any disinterested failure of a director to satisfy the requirements of Section 365
        of the Delaware General Corporation Law (relating to the duties of directors) shall not constitute an act or omission not in good faith, or a breach of the duty of loyalty.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-weight: bold;">FOURTH.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The total number of shares of all classes of stock
        which this corporation shall have authority to issue is one hundred sixteen million (116,000,000), of which: seventy-five million (75,000,000) shall be Class A Common Stock, par value $0.01 per share; fifteen million (15,000,000) shall be Class B
        Common Stock, par value $0.01 per share; twenty-five million (25,000,0000) shall be Class C Common Stock, par value $0.01 per share; and one million (1,000,000) shall be serial preferred stock, par value $0.01 per share.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Common Stock</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as set forth in the remainder of this Article
        FOURTH, Paragraph B., the Class A Common Stock, the Class B Common Stock and the Class C Common Stock shall all have the same rights and other attributes, including without limitation the right to share ratably with the shares of each of the other
        classes of common stock, based on the respective numbers of shares of each such class, any dividends and any distributions on liquidation declared and paid on common stock.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The shares of Class A Common Stock shall entitle the
        holders thereof to one vote per share of Class A Common Stock held of record on all matters. The shares of Class B Common Stock and Class C Common Stock constitute non-voting shares of the corporation and the holders thereof are not entitled to
        vote on any matter other than as required by law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Class C Common Stock was first authorized by the
        amendment of the Certificate of Incorporation of this corporation filed with the Delaware Secretary of State on November 27, 2013 and was referred to in such amendment as &#8220;non-voting common stock, par value $0.01 per share&#8221;. Each share of Class C
        Common Stock shall convert, automatically and without any action by any person, into one fully paid and nonassessable share of Class A Common Stock having full voting rights upon any transfer of such share to any person other than the Initial
        Holder or any Affiliate of such Initial Holder pursuant to clause (iii), (iv) or (v) of the following sentence, after which conversion such share of Class C Common Stock shall be retired and canceled and may not be reissued. The shares of Class C
        Common Stock are not convertible into common stock having full voting rights by the Initial Holder or any Affiliate of such Initial Holder and may only be transferred by the Initial Holder or such Affiliate (1) to an Affiliate of such Initial
        Holder, (ii) to the corporation, (iii) in a widespread public distribution, (iv) in a transfer in which no transferee (or group of associated transferees) would receive 2% or more of any class of voting securities of the corporation, or (v) to a
        transferee that would control more than 50% of the voting securities of the corporation without any transfer from the Initial Holder or any Affiliate of such Initial Holder. Notwithstanding the foregoing, the corporation may restrict such
        conversion to the extent it would be inconsistent with, or in violation of, the requirements of any Regulator with respect to the restrictions on the transfer of the non-voting common stock that are required in order to preserve the &#8220;non-voting&#8221;
        classification of the non-voting common stock for regulatory purposes. Any such restriction shall be imposed and deemed effective immediately upon the transmittal by the corporation of written notice to such holder specifying in reasonable detail
        the reason for such restriction; and in the event such notice is transmitted after the event giving rise to such automatic conversion, the restriction shall be deemed to have been imposed and effective retroactively to the time of such event, and
        such conversion shall be deemed not to have occurred, so long as such notice is transmitted within one hundred eighty (180) days after the event giving rise to such conversion. Such notice may be dispatched by first class mail, by electronic
        transmission, or by any other means reasonably designed and in good faith intended to provide prompt delivery to an executive officer (or equivalent) of, or legal counsel to, such holder.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">As used herein, (i) the term &#8220;Initial
        Holder&#8221; shall mean any holder of the non-voting common stock who acquired such stock on original issue by the corporation, including, without limitation, in an exchange for common stock of the corporation having full voting rights that has been
        approved by the board of directors of the corporation; (ii) the term &#8220;Affiliate&#8221; shall mean any person or entity that directly or indirectly controls, is controlled by, or is under common control with the person or entity to which the defined term
        refers; provided, that, for purposes of this definition, the term &#8220;control&#8221; means the ability, directly or indirectly, to direct or influence the direction of the management and policies of the person in question, whether such ability arises by
        virtue of ownership interest, contract right or otherwise and, without limiting the generality of the foregoing, a person is an Affiliate of another person if the first person (A) is an executive officer (as such term is defined in Rule 405 of the
        Securities Act of 1933, as amended) of the second person; (B) is a director of the second person where such second person is a corporation; (C) is a manager (or an executive officer, director, general partner or manager of an entity that is a
        manager) of the second person where such second person is a limited liability company; (D) is a general partner (or an executive officer, director, general partner or manager of an entity that is a general partner) of the second person where such
        second person is a partnership; or (E) directly or indirectly has or shares the power to vote, or direct the voting of, or to dispose of, or direct the disposition of, securities representing more than ten percent (10%) of the combined voting power
        of the securities of the second person; and (iii) the term &#8220;Regulator&#8221; shall mean any of (A) the Board of Governors of the Federal Reserve System (whether acting directly or by or through the Federal Reserve Bank of San Francisco in such bank&#8217;s
        regulatory capacity), (B) the Federal Deposit Insurance Corporation, (C) the Office of the Comptroller of the Currency, (D) any successor agency to any of the foregoing, or (E) any other federal regulatory authority, whether in existence as the
        date hereof or hereafter established, having jurisdiction over this corporation or its banking subsidiary as to matters of compliance with the Federal Deposit Insurance Corporation Act, the Bank Holding Company Act, the Federal Reserve Act, the
        Home Owners&#8217; Loan Act, any successor statute or amendment to any of the foregoing, or any regulation adopted pursuant thereto.</font></div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Preferred Stock</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The shares of preferred stock may be issued from time
        to time in one or more series. The board of directors of this corporation shall have authority to fix by resolution or resolutions the designations and the powers, preferences and relative, participating, optional or other special rights and
        qualifications, limitations or restrictions thereof; including without limitation the voting rights, the dividend rate, conversion rights, redemption price and liquidation preference, of any series of shares of preferred stock, to fix the number of
        shares constituting any such series and to increase or decrease the number of shares of any such series (but not below the number of shares thereof then outstanding). In case the number of shares of any such series shall be so decreased the shares
        constituting such decrease shall resume the status which they had prior to the adoption of the resolution or resolutions originally fixing the number of shares of such series.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Series B Junior Participating Preferred Stock</u>. The board of directors of this corporation, acting by resolution dated September 10, 2019, has classified 35,000 shares of the authorized preferred stock of the corporation as
        shares of Series B Junior Participating Preferred Stock, the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of which
        are as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Designation and Amount</u>. There shall be a series of preferred shares of the Corporation, $0.01 par value per share, which shall be designated &#8220;Series&#160;B Junior Participating Preferred Stock&#8221; (the &#8220;Series&#160;B
        Preferred Shares&#8221;), and the number of shares constituting that series shall be 35,000. Such number of shares may be increased or decreased by resolution of the Board of Directors and by the filing of a certificate in accordance with the provisions
        of the General Corporation Law of the State of Delaware stating that such increase or reduction has been so authorized;&#160;<u>provided</u>,&#160;<u>however</u>, that no decrease shall reduce the number of Series&#160;B Preferred Shares to a number less than the number of Series&#160;B Preferred Shares then outstanding plus the number of Series&#160;B Preferred
        Shares issuable upon exercise of outstanding rights, options or warrants or upon conversion of outstanding securities issued by the Corporation.</div>
    <div><br>
    </div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Dividends and Distributions</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to the prior and superior rights of the
        holders of any shares of any class or series of preferred shares of the Corporation ranking prior and superior to the Series&#160;B Preferred Shares with respect to dividends, the holders of Series&#160;B Preferred Shares shall be entitled to receive, when,
        as and if declared by the Board of Directors out of funds legally available for such purpose, quarterly dividends payable in cash to holders of record on the last Business Day of January, April, July&#160;and October&#160;in each year (each such date being
        referred to herein as a &#8220;Quarterly Dividend Payment Date&#8221;) (commencing on the first Quarterly Dividend Payment Date after the first issuance of a Series&#160;B Preferred Share or fraction thereof) in an amount per share (rounded to the nearest cent)
        equal to the greater of (a)&#160;$0.01 or (b)&#160;subject to the provision for adjustment hereinafter set forth, 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all
        non-cash dividends or other distributions other than a dividend payable in Common Shares (hereinafter defined) or a subdivision of the outstanding Common Shares (by a reclassification or otherwise), authorized on the shares of common stock, par
        value $0.01 per share, and the shares of non-voting common stock, par value $0.01 per share, of the Corporation (collectively, the &#8220;Common Shares&#8221;) since the immediately preceding Quarterly Dividend Payment Date, or, with respect to the first
        Quarterly Dividend Payment Date, since the first issuance of any Series&#160;B Preferred Share or fraction thereof. In the event the Corporation shall at any time following September&#160;23, 2019 (i)&#160;declare any dividend on Common Shares payable in Common
        Shares, (ii)&#160;subdivide the outstanding Common Shares or (iii)&#160;combine the outstanding Common Shares into a smaller number of shares, then in each such case the amount to which holders of Series&#160;B Preferred Shares were entitled immediately prior to
        such event under clause (b)&#160;of the preceding sentence shall be adjusted by multiplying each such amount by a fraction the numerator of which is the number of Common Shares outstanding immediately after such event and the denominator of which is the
        number of Common Shares that were outstanding immediately prior to such event.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Corporation shall declare a dividend or
        distribution on the Series&#160;B Preferred Shares as provided in paragraph (A)&#160;above at the time it declares a dividend or distribution on the Common Shares (other than a dividend payable in Common Shares).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No dividend or distribution (other than a dividend or
        distribution payable in Common Shares) shall be paid or payable to the holders of Common Shares unless, prior thereto, all accrued but unpaid dividends to the date of that dividend or distribution shall have been paid to the holders of Series&#160;B
        Preferred Shares.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(D)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Dividends shall begin to accrue and be cumulative on
        outstanding Series&#160;B Preferred Shares from the Quarterly Dividend Payment Date next preceding the date of issuance of such Series&#160;B Preferred Shares, unless the date of issuance of such shares is prior to the record date for the first Quarterly
        Dividend Payment Date, in which case dividends on such shares shall begin to accrue and be cumulative from the date of issuance of such shares, or unless the date of issuance is a Quarterly Dividend Payment Date or is a date after the record date
        for the determination of holders of Series&#160;B Preferred Shares entitled to receive a quarterly dividend and before such Quarterly Dividend Payment Date, in either of which events such dividends shall begin to accrue and be cumulative from such
        Quarterly Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on the Series&#160;B Preferred Shares in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be
        allocated pro rata on a share-by-share basis among all such shares at the time outstanding. The Board of Directors may fix a record date for the determination of holders of Series&#160;B Preferred Shares entitled to receive payment of a dividend or
        distribution declared thereon, which record date shall be no more than 30 days prior to the date fixed for the payment thereof.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Voting Rights</u>. The holders of Series&#160;B Preferred Shares shall have the following voting rights:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Subject to the provision for adjustment hereinafter
        set forth, each one one-thousandth of a Series&#160;B Preferred Share shall entitle the holder thereof to one vote on all matters submitted to a vote of the stockholders of the Corporation. In the event the Corporation shall at any time following
        September&#160;23, 2019 (i)&#160;declare any dividend on Common Shares payable in Common Shares, (ii)&#160;subdivide the outstanding Common Shares or (iii)&#160;combine the outstanding Common Shares into a smaller number of shares, then in each such case the number of
        votes per share to which holders of Series&#160;B Preferred Shares were entitled immediately prior to such event shall be adjusted by multiplying such number by a fraction the numerator of which is the number of Common Shares outstanding immediately
        after such event and the denominator of which is the number of Common Shares that were outstanding immediately prior to such event.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as otherwise provided herein or in the
        Certificate of Incorporation of the Corporation, including any certificate of designation creating any other series of preferred stock, the holders of Series&#160;B Preferred Shares, the holders of Common Shares and the holders of any other shares of
        stock of the Corporation having general voting rights shall vote together as one class on all matters submitted to a vote of stockholders of the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Except as otherwise provided herein or required by
        law, holders of Series&#160;B Preferred Shares shall have no special voting rights and their consent shall not be required (except to the extent they are entitled to vote with holders of Common Shares as provided herein) for taking any corporate action.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Restrictions</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Whenever any quarterly dividends or other dividends
        or distributions payable on the Series&#160;B Preferred Shares as provided in Section&#160;2 are in arrears, then, thereafter and until all accrued and unpaid dividends and distributions, whether or not declared, on Series&#160;B Preferred Shares outstanding
        shall have been paid in full, the Corporation shall not:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;declare or pay dividends on, make
        any other distributions on, or redeem or purchase or otherwise acquire for consideration any shares ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series&#160;B Preferred Shares, other than dividends paid
        or payable in such junior shares;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;declare or pay dividends on or
        make any other distributions on any shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series&#160;B Preferred Shares, except dividends paid ratably on the Series&#160;B Preferred Shares and all such
        parity shares on which dividends are payable or in arrears in proportion to the total amounts to which the holders of all such shares are then entitled;</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;redeem or purchase or otherwise
        acquire for consideration shares ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series&#160;B Preferred Shares, provided that the Corporation may at any time redeem, purchase or otherwise acquire any
        such parity shares in exchange for shares of the Corporation ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series&#160;B Preferred Shares; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;purchase or otherwise acquire for
        consideration any Series&#160;B Preferred Shares, except in accordance with a purchase offer made in writing or by publication (as determined by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after
        consideration of the respective annual dividend rates and other relative rights and preferences of the respective series and classes of the Corporation&#8217;s shares, shall determine in good faith will result in fair and equitable treatment among such
        respective series or classes.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Corporation shall not permit any subsidiary of
        the Corporation to purchase or otherwise acquire for consideration any shares of the Corporation unless the Corporation could, under paragraph (A)&#160;of this Section, purchase or otherwise acquire such shares at such time and in such manner.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Reacquired Shares</u>. Any Series&#160;B Preferred Shares purchased or otherwise acquired by the Corporation in any manner whatsoever shall become authorized but unissued shares and may be reissued as part of a new series
        of preferred shares to be created by resolution or resolutions of the Board of Directors, subject to the conditions and restrictions on issuance set forth herein.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Liquidation, Dissolution or Winding Up</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(A)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Upon any voluntary liquidation, dissolution or
        winding up of the Corporation, no distribution shall be made to the holders of shares ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series&#160;B Preferred Shares unless, prior thereto, the holders of
        Series&#160;B Preferred Shares shall have received $1.00 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment (the &#8220;Series&#160;B Liquidation Preference&#8221;). Following
        payment of the full amount of the Series&#160;B Liquidation Preference, no additional distributions shall be made to the holders of Series&#160;B Preferred Shares unless, prior thereto, the holders of Common Shares shall have received an amount per share
        (the &#8220;Common Adjustment&#8221;) equal to the quotient obtained by dividing (i)&#160;the Series&#160;B Liquidation Preference by (ii)&#160;1,000 (as appropriately adjusted as set forth in subparagraph C below to reflect such events as share splits, share dividends and
        recapitalizations with respect to the Common Shares) (such number in clause (ii)&#160;being referred to herein as the &#8220;Adjustment Number&#8221;). Following the payment of the full amount of the Series&#160;B Liquidation Preference and the Common Adjustment in
        respect of all outstanding Series&#160;B Preferred Shares and Common Shares, respectively, holders of Series&#160;B Preferred Shares and holders of Common Shares shall receive their ratable and proportionate share of the remaining assets to be distributed in
        the ratio, on a per share basis, of the Adjustment Number to 1 with respect to such Series&#160;B Preferred Shares and Common Shares, respectively.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(B)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event, however, that there are not sufficient
        assets available to permit payment in full of the Series&#160;B Liquidation Preference and the liquidation preferences of all other series of preferred shares, if any, which rank on a parity with the Series&#160;B Preferred Shares, then such remaining assets
        shall be distributed ratably to the holders of the Series&#160;B Preferred Shares and such parity shares in proportion to their respective liquidation preferences.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(C)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event the Corporation shall at any time
        following September&#160;23, 2019 (i)&#160;declare any dividend on Common Shares payable in Common Shares, (ii)&#160;subdivide the outstanding Common Shares or (iii)&#160;combine the outstanding Common Shares into a smaller number of shares, then in each such case the
        Adjustment Number in effect immediately prior to such event shall be adjusted by multiplying such Adjustment Number by a fraction the numerator of which is the number of Common Shares outstanding immediately after such event and the denominator of
        which is the number of Common Shares that were outstanding immediately prior to such event.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Consolidation, Merger,&#160;etc.</u> If the Corporation shall enter into any consolidation, merger, combination or other transaction in which the Common Shares are exchanged for or changed into other shares or securities,
        cash and/or any other property, then in any such case, the Series&#160;B Preferred Shares shall at the same time be similarly exchanged or changed in an amount per share (subject to the provision for adjustment hereinafter set forth) equal to 1,000
        times the aggregate amount of shares, securities, cash and/or any other property (payable in kind), as the case may be, into which or for which each Common Share is changed or exchanged. In the event the Corporation shall at any time (i)&#160;declare
        any dividend on Common Shares payable in Common Shares, (ii)&#160;subdivide the outstanding Common Shares or (iii)&#160;combine the outstanding Common Shares into a smaller number of shares, then in each such case the amount set forth in the preceding
        sentence with respect to the exchange or change of Series&#160;B Preferred Shares shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of Common Shares outstanding immediately after such event and the
        denominator of which is the number of Common Shares that were outstanding immediately prior to such event.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Redemption</u>. The Series&#160;B Preferred Shares shall not be redeemable by the Corporation. The preceding sentence shall not limit the ability of the Corporation to purchase or otherwise deal in such shares to the
        extent permitted by law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Ranking</u>. The Series&#160;B Preferred Shares shall rank junior to all other series of the Corporation&#8217;s preferred shares (whether with or without par value) as to the payment of dividends and the distribution of
        assets, unless the terms of any such series shall provide otherwise.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Amendment</u>. Neither the Corporation&#8217;s Certificate of Incorporation nor its Certificate of Designation, Preferences and Rights relating to the Series&#160;B Preferred Shares shall be amended in any manner which would
        materially and adversely alter or change the preferences, rights or other terms of the Series&#160;B Preferred Shares without the affirmative vote of the holders of a majority or more of the outstanding Series&#160;B Preferred Shares, voting separately as a
        class.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section&#160;11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Fractional Shares</u>. Series&#160;B Preferred Shares may be issued in fractions of a share that are integral multiples of one-one thousandth of a share, which shall entitle the holder, in proportion to such holder&#8217;s
        fractional shares, to exercise voting rights, receive dividends and participate in distributions and to have the benefit of all other rights of holders of Series&#160;B Preferred Shares.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Cumulative Redeemable Perpetual Preferred Stock, Series A</u>. 3,000 shares of the authorized preferred stock of this corporation are hereby classified as shares of Cumulative Redeemable Perpetual Preferred Stock, Series A, the
        preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of which are as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Designation and Number of Shares</u>. There shall be a series of preferred shares of the Corporation, $0.01 par value per share, which shall be designated &#8220;Fixed Rate Cumulative Redeemable Perpetual Preferred Stock,
        Series A&#8221; (the &#8220;<u>Series&#160;A Preferred Stock</u>&#8221;), and the number of shares constituting that series shall be 3,000.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>General Matters</u>. Each share of Series A Preferred Stock shall be identical in all respects to every other share of Series A Preferred Stock. The Series A Preferred Stock shall be perpetual. The Series A Preferred
        Stock shall rank equally with Parity Stock and shall rank senior to Junior Stock with respect to the payment of dividends and the distribution of assets in the event of any dissolution, liquidation or winding up of the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Definitions</u>. The following terms are used in these resolutions as defined below:</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Affiliate</u>&#8221; means, with respect to any person, any person directly or
      indirectly controlling, controlled by or under common control with, such other person, For purposes of this definition, &#8220;<u>control</u>&#8221; (including, with correlative meanings, the
      terms &#8220;<u>controlled by</u>&#8221; and &#8220;<u>under common control with</u>&#8221;) when used with respect to any person,
      means the possession, directly or indirectly, of the power to cause the direction of management and/or policies of such person, whether through the ownership of voting securities by contract or otherwise.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Appropriate Federal Banking Agency</u>&#8221; means the &#8220;appropriate Federal
      banking agency&#8221; with respect to the Corporation as defined in Section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(q)), or any successor provision.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Business Combination</u>&#8221; means a merger, consolidation, statutory share
      exchange or similar transaction that requires the approval of the Corporation&#8217;s stockholders.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Business Day</u>&#8221; means any day except Saturday, Sunday and any day on which
      banking institutions in the State of New York or the District of Columbia generally are authorized or required by law or other governmental actions to close.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Bylaws</u>&#8221; means the Amended and Restated Bylaws of the Corporation, as the
      same may be amended from time to time.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Charter</u>&#8221; means the Corporation&#8217;s Amended and Restated Certificate of
      Incorporation, as the same may be amended from time to time.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Common Stock</u>&#8221; means the common stock, par value $0.01 per share, of the
      Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Dividend Payment Date</u>&#8221; means February 15, May 15, August 15 and November
      15 of each year.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Dividend Period</u>&#8221; has the meaning set forth in Section 5(a).</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Dividend Record Date</u>&#8221; has the meaning set forth in Section 5(a).</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>GAAP</u>&#8221; means the generally accepted accounting principles in the United
      States.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Subsidiary</u>&#8221; means any subsidiary of the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Junior Stock</u>&#8221; means the Common Stock and any other class or series of
      stock of the Corporation the terms of which expressly provide that it ranks junior to Series A Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Liquidation Amount</u>&#8221; means $1,000 per share of Series A Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Liquidation Preference</u>&#8221; has the meaning set forth in Section 6(a).</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#8220;</sup><u>Original Issue Date</u>&#8221; means the date on which shares of Series
      A Preferred Stock are first issued.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Parity Stock</u>&#8221; means any class or series of stock of the Corporation
      (other than Series A Preferred Stock) the terms of which do not expressly provide that such class or series will rank junior or senior to Series A Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of
      the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Preferred Stock</u>&#8221; means any and all series of preferred stock of the
      Corporation, including the Series A Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; margin-left: 36pt;">&#8220;<u>Signing Date</u>&#8221; means the date the Preferred Stock Purchase Agreement
      relating to the issuance of shares of Series A Preferred Stock by and between the Corporation and E*TRADE Community Development Corporation (&#8220;<u>Buyer</u>&#8221;) is executed and
      delivered by Buyer.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Voting Matters</u>. Holders of shares of Series A Preferred Stock will be entitled to one vote for each such share on any matter on which holders of Series A Preferred Stock are entitled to vote, including
        any action by written consent.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Dividends</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Rate</u>. Holders of Series A Preferred Stock shall be entitled to receive, on each share of Series A Preferred Stock if, as and when declared by the Board of Directors or any duly authorized committee of the Board of
        Directors, but only out of assets legally available therefor, cumulative cash dividends with respect to each Dividend Period (as defined below) at a rate per annum equal to four percent on (i) the Liquidation Amount per share of Series A Preferred
        Stock and (ii) the amount of accrued and unpaid dividends for any prior Dividend Period on such share of Series A Preferred Stock, if any. Such dividends shall begin to accrue and be cumulative from the Original Issue Date, shall compound on each
        subsequent Dividend Payment Date and shall be payable quarterly in arrears on each Dividend Payment Date, commencing with the first such Dividend Payment Date to occur at least 20 calendar days after the Original Issue Date. In the event that any
        Dividend Payment Date would otherwise fall on a day that is not a Business Day, the dividend payment due on that date will be postponed to the next day that is a Business Day and no additional dividends will accrue as a result of that postponement.
        The period from and including any Dividend Payment Date to, but excluding, the next Dividend Payment Date is a &#8220;<u>Dividend Period</u>&#8221;<u>,</u> provided, that the initial Dividend Period shall be the period from and including the Original Issue Date to, but excluding, the next Dividend Payment Date.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">Dividends that are payable on Series A Preferred Stock in respect of any Dividend Period shall be computed on the basis of a 360-day year consisting
      of 12 30-day months. The amount of dividends payable on Series A Preferred Stock on any date prior to the end of a Dividend Period, and for the initial Dividend Period, shall be computed on the basis of a 360-day year consisting of 12 30-day months,
      and actual days elapsed over a 30-day month.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Dividends that are payable on Series A Preferred Stock on any Dividend Payment Date will be payable to holders of record of Series A Preferred Stock
      as they appear on the stock register of the Corporation on the applicable record date, which shall be the 15th calendar day immediately preceding such Dividend Payment Date or such other record date fixed by the Board of Directors or any duly
      authorized committee of the Board of Directors that is not more than 60 nor less than 10 days prior to such Dividend Payment Date (each, a &#8220;<u>Dividend Record Date</u>&#8221;). Any such
      day that is a Dividend Record Date shall be a Dividend Record Date whether or not such day is a Business Day.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Holders of Series A Preferred Stock shall not be entitled to any dividends, whether payable in cash, securities or other property, other than
      dividends (if any) declared and payable on Series A Preferred Stock as specified in this Section 5 (subject to the other provisions of this Certificate of Designation).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Priority of Dividends</u>. <a name="z_Hlk53576407"></a>So long as any share of Series A Preferred Stock remains outstanding, no dividend or distribution shall be declared or paid on the Common Stock or any other shares of
        Junior Stock (other than dividends payable solely in shares of Common Stock) or Parity Stock, subject to Section 5(c) below and the immediately following paragraph in the case of Parity Stock, and no Common Stock, Junior Stock or Parity Stock shall
        be, directly or indirectly, purchased, redeemed or otherwise acquired for consideration by the Corporation or any of its subsidiaries unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend
        Period (including, if applicable as provided in Section 5(a) above, dividends on such amount), on all outstanding shares of Series A Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum
        sufficient for the payment thereof has been set aside for the benefit of the holders of shares of Series A Preferred Stock on the applicable record date), subject to Section 10 below.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">When dividends are not paid (or declared and a sum sufficient for payment thereof set aside for the benefit of the holders thereof on the applicable
      record date) on any Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within a Dividend Period related to such Dividend Payment Date) in
      full upon Series A Preferred Stock and any shares of Parity Stock, all dividends declared on Series A Preferred Stock and all such Parity Stock and payable on such Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates
      different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) shall be declared pro rata so that the respective amounts of such dividends declared shall bear the same
      ratio to each other as all accrued and unpaid dividends per share on the shares of Series A Preferred Stock (including, if applicable as provided in Section 5(a) above, dividends on such amount) and all Parity Stock payable on such Dividend Payment
      Date (or, in the case of Parity Stock having dividend payment dates different from the Dividend Payment Dates, on a dividend payment date falling within the Dividend Period related to such Dividend Payment Date) (subject to their having been declared
      by the Board of Directors or a duly authorized committee of the Board of Directors out of legally available funds and including, in the case of Parity Stock that bears cumulative dividends, all accrued but unpaid dividends) bear to each other. If the
      Board of Directors or a duly authorized committee of the Board of Directors determines not to pay any dividend or a full dividend on a Dividend Payment Date, the Corporation will provide written notice to the holders of Series A Preferred Stock prior
      to such Dividend Payment Date.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">Subject to the foregoing and Section 5(c) below, and not otherwise, such dividends (payable in cash, securities or other property) as may be
      determined by the Board of Directors or any duly authorized committee of the Board of Directors may be declared and paid on any securities, including Common Stock and other Junior Stock, from time to time out of any funds legally available for such
      payment, and holders of Series A Preferred Stock shall not be entitled to participate in any such dividends.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Restriction on Dividends</u>. <a name="z_Hlk53576417"></a>So long as any share of Series A Preferred Stock remains outstanding, neither the Corporation nor any Subsidiary shall declare or pay any dividend or make any
        distribution on Common Stock, Junior Stock, Parity Stock or other capital stock or other equity securities of any kind of the Corporation or any Subsidiary (other than (i) dividends payable solely in shares of Common Stock, (ii) regular dividends
        on shares of preferred stock in accordance with the terms thereof and which are permitted under the terms of this Section 5, (iii) dividends or distributions by any wholly owned Subsidiary, (iv) dividends or distributions by any Subsidiary required
        pursuant to binding contractual agreements entered into prior to June 28, 2017) or (v) in the case of Parity Stock, dividends payable on a pro rata basis with Series A Preferred Stock), unless all accrued and unpaid dividends for all past Dividend
        Periods, including the latest completed Dividend Period (including, if applicable as provided in Section 5(a) above, dividends on such amount), on all outstanding shares of Series A Preferred Stock have been or are contemporaneously declared and
        paid in full (or have been declared and a sum sufficient for the payment thereof has been set aside for the benefit of the holders of shares of Series A Preferred Stock on the applicable record date), in which case dividends on Common Stock, Junior
        Stock and Parity Stock may be declared and paid.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Liquidation Rights</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Voluntary or Involuntary Liquidation</u>. In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, holders of Series A Preferred Stock shall be entitled to
        receive for each share of Series A Preferred Stock, out of the assets of the Corporation or proceeds thereof (whether capital or surplus) available for distribution to stockholders of the Corporation, subject to the rights of any creditors of the
        Corporation, before any distribution of such assets or proceeds is made to or set aside for the holders of Common Stock and any other stock of the Corporation ranking junior to Series A Preferred Stock as to such distribution, payment in full in an
        amount equal to the sum of (i) the Liquidation Amount per share and (ii) the amount of any accrued and unpaid dividends (including, if applicable as provided in Section 5(a) above, dividends on such amount), whether or not declared, to the date of
        payment (such amounts collectively, the &#8220;<u>Liquidation Preference</u>&#8221;).</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Partial Payment</u>. If in any distribution described in Section 6(a) above the assets of the Corporation or proceeds thereof are not sufficient to pay in full the amounts payable with respect to all outstanding shares of
        Series A Preferred Stock and the corresponding amounts payable with respect of any other stock of the Corporation ranking equally with Series A Preferred Stock as to such distribution, holders of Series A Preferred Stock and the holders of such
        other stock shall share ratably in any such distribution in proportion to the full respective distributions to which they are entitled.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Residual Distributions</u>. If the Liquidation Preference has been paid in full to all holders of Series A Preferred Stock and the corresponding amounts payable with respect of any other stock of the Corporation ranking equally
        with Series A Preferred Stock as to such distribution has been paid in full, the holders of other stock of the Corporation shall be entitled to receive all remaining assets of the Corporation (or proceeds thereof) according to their respective
        rights and preferences.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Merger, Consolidation and Sale of Assets Not Liquidation</u>. For purposes of this Section 6, the merger or consolidation of the Corporation with any other corporation or other entity, including a merger or consolidation in
        which the holders of Series A Preferred Stock receive cash, securities or other property for their shares, or the sale, lease or exchange (for cash, securities or other property) of all or substantially all of the assets of the Corporation, shall
        not constitute a liquidation, dissolution or winding up of the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Redemption.</u></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Optional Redemption</u>. The Corporation, at its option, subject to the approval of the Appropriate Federal Banking Agency, may redeem, in whole or in part, at any time and from time to time, out of funds legally available
        therefor, the shares of Series A Preferred Stock at the time outstanding, upon notice given as provided in Section 7(c) below, at a redemption price equal to the sum of (i) the Liquidation Amount per share and (ii) any accrued and unpaid dividends
        (including, if applicable as provided in Section 5(a) above, dividends on such amount) (regardless of whether any dividends are actually declared) to, but excluding, the date fixed for redemption.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">The redemption price for any shares of Series A Preferred Stock shall be payable on the redemption date to the holder of such shares against surrender
      of the certificate(s) evidencing such shares to the Corporation or its agent. Any declared but unpaid dividends payable on a redemption date that occurs subsequent to the Dividend Record Date for a Dividend Period shall not be paid to the holder
      entitled to receive the redemption price on the redemption date, but rather shall be paid to the holder of record of the redeemed shares on such Dividend Record Date relating to the Dividend Payment Date as provided in Section 5 above.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>No Sinking Fund</u>. The Series A Preferred Stock will not be subject to any mandatory redemption, sinking fund or other similar provisions. Holders of Series A Preferred Stock will have no right to require redemption or
        repurchase of any shares of Series A Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Notice of Redemption</u>. Notice of every redemption of shares of Series A Preferred Stock shall be given by first class mail, postage prepaid, addressed to the holders of record of the shares to be redeemed at their respective
        last addresses appearing on the books of the Corporation. Such mailing shall be at least 30 days and not more than 60 days before the date fixed for redemption. Any notice mailed as provided in this Subsection shall be conclusively presumed to have
        been duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of shares of Series A Preferred Stock designated for redemption
        shall not affect the validity of the proceedings for the redemption of any other shares of Series A Preferred Stock. Notwithstanding the foregoing, if shares of Series A Preferred Stock are issued in book-entry form through The Depository Trust
        Company or any other similar facility, notice of redemption may be given to the holders of Series A Preferred Stock at such time and in any manner permitted by such facility. Each notice of redemption given to a holder shall state: (1) the
        redemption date; (2) the number of shares of Series A Preferred Stock to be redeemed and, if less than all the shares held by such holder are to be redeemed, the number of such shares to be redeemed from such holder; (3) the redemption price; and
        (4) the place or places where certificates for such shares are to be surrendered for payment of the redemption price.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Partial Redemption</u>. In case of any redemption of part of the shares of Series A Preferred Stock at the time outstanding, the shares to be redeemed shall be selected either pro rata or in such other manner as the Board of
        Directors or a duly authorized committee thereof may determine to be fair and equitable. Subject to the provisions hereof, the Board of Directors or a duly authorized committee thereof shall have full power and authority to prescribe the terms and
        conditions upon which shares of Series A Preferred Stock shall be redeemed from time to time. If fewer than all the shares represented by any certificate are redeemed, a new certificate shall be issued representing the unredeemed shares without
        charge to the holder thereof.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Effectiveness of Redemption</u>. If notice of redemption has been duly given and if on or before the redemption date specified in the notice all funds necessary for the redemption have been deposited by the Corporation, in
        trust for the <font style="font-style: italic;">pro rata </font>benefit of the holders of the shares called for redemption, with a bank or trust company doing business in the Borough of Manhattan,
        The City of New York, and having a capital and surplus of at least $500 million and selected by the Board of Directors, so as to be and continue to be available solely therefor, then, notwithstanding that any certificate for any share so called for
        redemption has not been surrendered for cancellation, on and after the redemption date dividends shall cease to accrue on all shares so called for redemption, all shares so called for redemption shall no longer be deemed outstanding and all rights
        with respect to such shares shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount payable on such redemption from such bank or trust company, without interest. Any funds
        unclaimed at the end of three years from the redemption date shall, to the extent permitted by law, be released to the Corporation, after which time the holders of the shares so called for redemption shall look only to the Corporation for payment
        of the redemption price of such shares.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Status of Redeemed Shares</u>. Shares of Series A Preferred Stock that are redeemed, repurchased or otherwise acquired by the Corporation shall revert to authorized but unissued shares of Preferred Stock (provided, that any
        such cancelled shares of Series A Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Series A Preferred Stock).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Conversion</u>. Holders of Series A Preferred Stock shares shall have no right to exchange or convert such shares into any other securities.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Voting Rights</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>General</u>. The holders of Series A Preferred Stock shall not have any voting rights except as set forth below or as otherwise from time to time required by law. If any vote of the holders of Common Stock is required in
        connection with a cash tender offer made to the Company or the holders of Common Stock, the holders of Series A Preferred Stock shall vote as a single class with the holders of Common Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Class Voting Rights as to Particular Matters</u>. So long as any shares of Series A Preferred Stock are outstanding, in addition to any other vote or consent of stockholders required by law or by the Charter, the vote or
        consent of the holders of at least a majority of the shares of Series A Preferred Stock at the time outstanding, voting as a separate class, given in person or by proxy, either in writing without a meeting or by vote at any meeting called for the
        purpose, shall be necessary for effecting or validating:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Authorization of Senior Stock</u>. Any amendment or alteration of the provisions of the Charter relating to the Series A Preferred Stock or to authorize or create or increase the authorized amount of, or any issuance of, any
        shares of, or any securities convertible into or exchangeable or exercisable for shares of, any class or series of capital stock of the Corporation ranking senior to Series A Preferred Stock with respect to either or both the payment of dividends
        and/or the distribution of assets on any liquidation, dissolution or winding up of the Corporation;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Amendment of Series A Preferred Stock</u>. Any amendment, alteration or repeal of any provision of this Certificate of Designation for the Series A Preferred Stock or the Charter (including, unless no vote on such merger or
        consolidation is required by Section 9(b)3 below, any amendment, alteration or repeal by means of a merger, consolidation or otherwise) so as to adversely affect the rights, preferences, privileges or voting powers of the Series A Preferred Stock;
        or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Share Exchanges, Reclassifications, Mergers and Consolidations</u>. Any consummation of a binding share exchange or reclassification involving the Series A Preferred Stock, or of a merger or consolidation of the Corporation
        with another corporation or other entity, unless in each case (x) the shares of Series A Preferred Stock remain outstanding or, in the case of any such merger or consolidation with respect to which the Corporation is not the surviving or resulting
        entity, are converted into or exchanged for preference securities of the surviving or resulting entity or its ultimate parent, and (y) such shares remaining outstanding or such preference securities, as the case may be, have such rights,
        preferences, privileges and voting powers, and limitations and restrictions thereof, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers, and limitations and
        restrictions thereof, of Series A Preferred Stock immediately prior to such consummation, taken as a whole;</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
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    </div>
    <div style="text-align: justify;">provided, that for all purposes of this Section 9(b), any increase in the amount of the authorized Preferred Stock, including any increase in the authorized amount of
      Series A Preferred Stock necessary to satisfy preemptive or similar rights granted by the Corporation to other persons prior to the Signing Date, or the creation and issuance, or an increase in the authorized or issued amount, whether pursuant to
      preemptive or similar rights or otherwise, of any other series of Preferred Stock, or any securities convertible into or exchangeable or exercisable for any other series of Preferred Stock, ranking equally with and/or junior to Series A Preferred
      Stock with respect to the payment of dividends (whether such dividends are cumulative or non-cumulative) and the distribution of assets upon liquidation, dissolution or winding up of the Corporation will not be deemed to adversely affect the rights,
      preferences, privileges or voting powers, and shall not require the affirmative vote or consent of, the holders of outstanding shares of the Series A Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Changes after Provision for Redemption</u>. No vote or consent of the holders of Series A Preferred Stock shall be required pursuant to Section 9(b) above if, at or prior to the time when any such vote or consent would
        otherwise be required pursuant to such Section, there are no outstanding shares of the Series A Preferred Stock.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Procedures for Voting and Consents</u>. The rules and procedures for calling and conducting any meeting of the holders of Series A Preferred Stock (including, without limitation, the fixing of a record date in connection
        therewith), the solicitation and use of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or such consents shall be governed by any rules of the Board of Directors or any duly
        authorized committee of the Board of Directors, in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Charter, the Bylaws, and applicable law and the rules of any national securities
        exchange or other trading facility on which Series A Preferred Stock is listed or traded at the time.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Restriction on Repurchases</u>. So long as any share of Series A Preferred Stock remains outstanding, neither the Corporation nor any Subsidiary shall, redeem, purchase or acquire any shares of Common Stock, Junior
        Stock, Parity Stock or other capital stock or other equity securities of any kind of the Corporation or any Subsidiary, or any trust preferred securities issued by the Corporation or any Affiliate of the Corporation (other than (i) redemptions,
        purchases, repurchases or other acquisitions of the Series A Preferred Stock, (ii) repurchases of Junior Stock or Common Stock in connection with the administration of any employee benefit plan in the ordinary course of business, (iii) the
        acquisition by the Corporation or any of the Corporation Subsidiaries of record ownership in Junior Stock or Parity Stock for the beneficial ownership of any other persons (other than the Corporation or any other Subsidiary), including as trustees
        or custodians, (iv) the exchange or conversion of Junior Stock for or into other Junior Stock or of Parity Stock or trust preferred securities for or into other Parity Stock (with the same or lesser aggregate liquidation amount) or Junior Stock, in
        each case as set forth in this clause (iv), (v) redemptions of securities held by the Corporation or any wholly-owned Subsidiary or (vi) redemptions, purchases or other acquisitions of capital stock or other equity securities of any kind of any
        Subsidiary), unless all accrued and unpaid dividends for all past Dividend Periods, including the latest completed Dividend Period (including, if applicable as provided in Section 3(a) above, dividends on such amount), on all outstanding shares of
        Series A Preferred Stock have been or are contemporaneously declared and paid in full (or have been declared and a sum sufficient for the payment thereof has been set aside for the benefit of the holders of shares of Series A Preferred Stock on the
        applicable record date), in which case redemptions, purchases or acquisitions of shares of Common Stock, Junior Stock or Parity Stock may be made by the Corporation or any Subsidiary.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Record Holders</u>. To the fullest extent permitted by applicable law, the Corporation and the transfer agent for Series A Preferred Stock may deem and treat the record holder of any share of Series A Preferred Stock
        as the true and lawful owner thereof for all purposes, and neither the Corporation nor such transfer agent shall be affected by any notice to the contrary.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Notices</u>. All notices or communications in respect of Series A Preferred Stock shall be sufficiently given if given in writing and delivered in person or by first class mail, postage prepaid, or if given in such
        other manner as may be permitted in this Certificate of Designation, in the Charter or Bylaws or by applicable law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>No Preemptive Rights</u>. No share of Series A Preferred Stock shall have any rights of preemption whatsoever as to any securities of the Corporation, or any warrants, rights or options issued or granted with respect
        thereto, regardless of how such securities, or such warrants, rights or options, may be designated, issued or granted.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Replacement Certificates</u>. The Corporation shall replace any mutilated certificate at the holder&#8217;s expense upon surrender of that certificate to the Corporation. The Corporation shall replace certificates that
        become destroyed, stolen or lost at the holder&#8217;s expense upon delivery to the Corporation of reasonably satisfactory evidence that the certificate has been destroyed, stolen or lost, together with any indemnity that may be reasonably required by
        the Corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">Section 15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Other Rights</u>. The shares of Series A Preferred Stock shall not have any rights, preferences, privileges or voting powers or relative, participating, optional or other special rights, or qualifications,
        limitations or restrictions thereof, other than as set forth herein or in the Charter or as provided by applicable law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">FIFTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The business and affairs of
        this corporation shall be under the direction of a board of directors. The exact number of directors shall be fixed from time to time by the board of directors pursuant to a resolution adopted by the affirmative vote of a majority of the full board
        of directors.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Election of Directors</u>. The directors of this corporation shall be divided into three classes: the first class, the second class and the third class. Each director shall serve for a term ending on the third annual meeting
        following the annual meeting at which such director was elected. At each annual election commencing at the first annual meeting of stockholders, the successors to the class of directors whose term expires at that time shall be elected by the
        stockholders to hold office for a term of three years to succeed those directors whose term expires, so that the term of one class of directors shall expire each year.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
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    </div>
    <div style="text-align: justify;">In the event of any change in the authorized number of directors, each director then continuing to serve as such shall continue as a director of the class of which he or
      she is a member until the expiration of his or her current term, or his or her prior resignation, disqualification, disability or removal. There shall be no cumulative voting in the election of directors. Election of directors need not be made by
      written ballot.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Newly Created Directorships and Vacancies</u>. Any vacancies on the board of directors resulting from death, resignation, retirement, disqualification, removal from office or other cause may be filled only by the affirmative
        vote of a majority of directors then in office, although less than a quorum, or by the sole remaining director, or, in the event of the failure of the directors or the sole remaining director so to act, by the stockholders at the next annual
        meeting which occurs after the expiration of a 90-day period commencing on the day the vacancy is created. Directors so chosen shall hold office for a term expiring at the annual meeting of stockholders at which the term of the class to which they
        have been elected expires. A director elected to fill a vacancy by reason of an increase in the number of directorships may be elected by a majority vote of the directors then in office, although less than a quorum of the board of directors, to
        serve until the next election of the class for which such director shall have been chosen. If the number of directors is changed, any increase or decrease may be allocated to any such class the board of directors selects in its discretion. No
        decrease in the number of directors constituting the board of directors shall shorten the term of any incumbent director.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Removal</u>. A director may be removed only for cause as determined by the affirmative vote of the holders of at least a majority of the shares then entitled to vote in an election of directors, which vote may only be taken at
        an annual meeting or a special meeting of stockholders called expressly for that purpose. Cause for removal shall be deemed to exist only if the director whose removal is proposed has been convicted of a felony by a court of competent jurisdiction
        or has been adjudged by a court of competent jurisdiction to be liable for gross negligence or misconduct in the performance of such director&#8217;s duty to the corporation and such adjudication is no longer subject to direct appeal.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-weight: bold;">SIXTH.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Higher Vote for Certain Business Combinations</u>. In addition to any affirmative vote of holders of a class or series of capital stock of this corporation required by law or the provisions of this Certificate of Incorporation
        and except as otherwise expressly provided in <u>Paragraph B</u> of this <u>Article&#160;SIXTH</u>, a Business
        Combination (as hereinafter defined) with or upon a proposal by an Interested Stockholder (as hereinafter defined) shall require the affirmative vote of the holders of at least two-thirds of the Voting Stock (as hereinafter defined) of this
        corporation voting together as a single class. Such affirmative vote shall be required notwithstanding the fact that no vote, or a lesser percentage vote, may be required or may be specified, by law or regulation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>When Higher Vote is Not Required</u>. The provisions of <u>Paragraph A</u> of this <u>Article&#160;SIXTH</u>
        shall not be applicable to any particular Business Combination if all of the conditions specified in any one of the following <u>Subparagraphs (i)</u>, <u>(ii)</u> or <u>(iii)</u> are met:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Approval by Disinterested Directors</u>. The proposed Business Combination has been approved by a vote of a majority of all the Disinterested Directors (as hereinafter defined); or</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">17</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Combination with Subsidiary</u>. The proposed Business Combination is solely between this corporation and a subsidiary of this corporation, and such Business Combination does not have the direct or indirect effect set forth
        in <u>Subparagraph C(ii)(e)</u> of this <u>Article&#160;SIXTH</u>; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Price and Procedural Conditions</u>. The proposed Business Combination will be consummated within three years after the date (the &#8220;<u>Determination Date</u>&#8221;)
        that the Interested Stockholder became an Interested Stockholder and all of the following conditions have been met:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The aggregate amount of
        cash and fair market value (as of the date of the consummation of the Business Combination) of consideration other than cash, to be received per share of common stock in such Business Combination by the holders thereof shall be at least equal to
        the higher of the following: (x) the highest per share price, including any brokerage commissions, transfer taxes and soliciting dealers&#8217; fees (with appropriate adjustments for recapitalizations, reclassifications, stock splits, reverse stock
        splits and stock dividends) paid by the Interested Stockholder for any shares of common stock acquired by it, including those shares acquired by the Interested Stockholder before the Determination Date, or (y) the fair market value of the common
        stock of the corporation (as determined by the Disinterested Directors) on the date the Business Combination is first proposed (the &#8220;<u>Announcement Date</u>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The aggregate amount of
        cash and fair market value (as of the date of the consummation of the Business Combination) of consideration other than cash, to be received per share of any class or series of preferred stock in such Business Combination by the holders thereof
        shall be at least equal to the highest of the following: (x) the highest per share price, including any brokerage commissions, transfer taxes and soliciting dealers&#8217; fees (with appropriate adjustments for recapitalizations, reclassifications, stock
        splits, reverse stock splits and stock dividends) paid by the Interested Stockholder for any shares of such class or series of preferred stock acquired by it, including those shares acquired by the Interested Stockholder before the Determination
        Date; (y) the fair market value of such class or series of preferred stock of the corporation (as determined by the Disinterested Directors) on the Announcement Date; and (z) the highest preferential amount per share of such class or series of
        preferred stock to which the holders thereof would be entitled in the event of voluntary or involuntary liquidation, dissolution or winding up of the affairs of the corporation (regardless of whether the Business Combination to be consummated
        constitutes such an event).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The consideration to be
        received by holders of a particular class or series of outstanding common or preferred stock shall be in cash or in the same form as the Interested Stockholder has previously paid for shares of such class or series of stock. If the Interested
        Stockholder has paid for shares of any class or series of stock with varying forms of consideration, the form of consideration given for such class or series of stock in the Business Combination shall be cash or the form used by the Interested
        Stockholder to acquire the largest number of shares of such class or series of stock previously acquired by it.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No Extraordinary Event
        (as hereinafter defined) occurs after the Interested Stockholder has become an Interested Stockholder and prior to the consummation of the Business Combination.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">18</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A proxy or information
        statement describing the proposed Business Combination and complying with the requirements of the Securities Exchange Act of 1934, as amended (the &#8220;<u>Act</u>&#8221;), and the rules
        and regulations thereunder (or any subsequent provisions replacing such Act, rules and regulations) is mailed to public stockholders of the corporation at least 30 days prior to the consummation of such Business Combination, whether or not such
        proxy or information statement is required pursuant to such Act or subsequent provisions (although such proxy or information statement need only be filed with the Securities and Exchange Commission if a filing is required by such Act or subsequent
        provisions), and shall contain at the front thereof in a prominent place the recommendation, if any, of the Disinterested Directors as to the advisability or inadvisability of the Business Combination and the recommendation, opinion or evaluation
        of any Investment banking firm selected by a majority of the Disinterested Directors as to the fairness of the Business Combination from the point of view of the stockholders of the corporation other than the Interested Stockholder.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Certain Definitions</u>. For purposes of this <u>Article&#160;SIXTH</u>:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A &#8220;<u>person</u>&#8221; shall mean any individual, corporation, partnership, bank, association, joint stock company, trust, unincorporated organization or similar company, or a group of &#8220;persons&#8221; acting or agreeing to act together in
        the manner set forth in Rule 13d-5 under the Act as in effect on June 1, 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Business Combination</u>&#8221; shall mean any of the following transactions, if entered into by this corporation or a subsidiary of this corporation with, or upon a proposal by, an Interested Stockholder:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          merger or consolidation of this corporation or any subsidiary of this corporation; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one or a series of transactions) of any assets of this corporation or any subsidiary of this corporation having an aggregate fair market value of $10 million or more; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          issuance or transfer by this corporation or any subsidiary of this corporation (in one or a series of transactions) of securities of this corporation or subsidiary of this corporation having an aggregate fair market value of $10 million or more;
          or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          adoption of a plan or proposal for the liquidation or dissolution of any subsidiary of this corporation; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          reclassification of securities (including a reverse stock split), recapitalization, consolidation or any other transaction (whether or not involving an Interested Stockholder) which has the direct or indirect effect of increasing the voting
          power, whether or not then exercisable, of an Interested Stockholder in any class or series of capital stock of this corporation or subsidiary of this corporation; or</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">19</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
          agreement, contract or other arrangement providing directly or indirectly for any of the foregoing.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Interested Stockholder</u>&#8221; shall mean any person (other than this corporation, a subsidiary of this corporation, an employee stock ownership or other employee benefit plan of this corporation or
        subsidiary of this corporation or any trustee or fiduciary with respect to any such plan acting in such capacity) that is the direct or indirect beneficial owner (as defined in Rule 13d-3 and Rule 13d-5 under the Act as in effect on June 1, 2020)
        of more than 10% of the outstanding voting stock of the corporation, and any Affiliate or Associate of any such person.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Disinterested Director</u>&#8221; shall mean any member of the board of directors of this corporation who is not affiliated with an Interested Stockholder and who was a member of the board of directors of this
        corporation immediately prior to the time that any Interested Stockholder became an Interested Stockholder, and any, successor to a Disinterested Director who is not affiliated with an Interested Stockholder and is recommended to succeed a
        Disinterested Director by a majority of the Disinterested Directors who are then members of the board of directors of this corporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Affiliate</u>&#8221; and &#8220;<u>Associate</u>&#8221; shall have the respective meanings ascribed to such terms in Rule 12b-2 under the Act as in
        effect on June 1, 2020.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Extraordinary Event</u>&#8221; shall mean, as to any Business Combination and Interested Stockholder, any of the following events that is not approved by a majority of all Disinterested Directors:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
          failure to declare and pay at the regular date therefor any full quarterly dividend (whether or not cumulative) on outstanding preferred stock; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
          reduction in the annual rate of dividends paid on the common stock (except as necessary to reflect any subdivision of the common stock); or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;any
          failure to increase the annual rate of dividends paid on the common stock as necessary to reflect any reclassification (including any reverse stock split), recapitalization, reorganization or any similar transaction that has the effect of
          reducing the number of outstanding shares of the common stock; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the
          receipt by the Interested Stockholder, after the Determination Date, of a direct or indirect benefit (except proportionately as a stockholder) from any loans, advances, guarantees, pledges or other financial assistance or any tax credits or other
          tax advantages provided by this corporation or any subsidiary of this corporation, whether in anticipation of, or in connection with, the Business Combination or otherwise.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 72pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Voting Stock</u>&#8221; shall mean all outstanding shares of the common or preferred stock of this corporation entitled to vote generally in the election of directors, and each reference to a proportion of Voting Stock shall
        refer to shares having such proportion of the number of shares entitled to be cast, excluding all shares beneficially owned or controlled by the Interested Stockholder.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">20</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 72pt;">(viii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event of any Business Combination in which
        this corporation survives, the phrase consideration other than cash&#8221; as used in <u>Subparagraphs B(iii)(a)</u> and B<u>(iii)(b)</u> of this <u>Article&#160;SIXTH</u> shall include the shares of common stock and the shares of any other class or series of preferred stock retained
        by the holders of such shares.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Determinations</u>. A majority of all Disinterested Directors shall have the power to make any determinations with respect to this <u>Article&#160;SIXTH</u>,
        including, without limitation, the transactions that are Business Combinations, the persons who are Interested Stockholders, the time at which an Interested Stockholder became an Interested Stockholder and the fair market value of any assets,
        securities (including any stock or other securities issued by this corporation) or other property; and any such determinations of such Disinterested Directors shall be conclusive and binding.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>No Effect on Fiduciary Obligations of Interested Stockholders</u>. Nothing contained in this <u>Article&#160;SIXTH</u> shall be construed to relieve any
        Interested Stockholder from any fiduciary obligation imposed by law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">F.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Amendment, Repeal</u>. In addition to the vote required by <u>Article&#160;NINTH</u> of this Certificate of Incorporation, the affirmative vote of the holders of
        at least two-thirds of the Voting Stock of this corporation, voting together as a single class, shall be required to amend, repeal or adopt any provisions inconsistent with this <u>Article&#160;SIXTH</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">SEVENTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This corporation reserves the
        right to amend, alter, change or repeal any provision contained in this Certificate of Incorporation in the manner now or hereafter prescribed by statute. Notwithstanding the foregoing, the affirmative vote of the holders of at least two-thirds (or
        such greater proportion as may otherwise be required pursuant to any specific provision of this Certificate of Incorporation) of the total votes eligible to be cast at a legal meeting of stockholders shall be required to amend, repeal or adopt any
        provisions inconsistent with <u>Articles FIFTH</u>, <u>SIXTH</u>, this <u>Article&#160;SEVENTH</u> and <u>Articles&#160;EIGHTH</u>, <u>NINTH</u>,
        <u>TENTH</u>, and <u>ELEVENTH</u> of this Certificate of Incorporation.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">EIGHTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Bylaws may be adopted, amended
        or repealed by the affirmative vote of the holders of at least two-thirds of the total votes eligible to be cast at a legal meeting of stockholders or by a resolution adopted by a majority of the directors then in office.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">NINTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All action required to be taken
        or which may be taken at any annual or special meeting of the stockholders of this corporation may only be taken by written consent without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all of the
        stockholders of this corporation entitled to vote thereon.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">TENTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A director of this corporation
        shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as director, except: (i) for any breach of the director&#8217;s duty of loyalty to the corporation or its stockholders, (ii) for acts
        or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Delaware General Corporation Law, or (iv) for any transaction from which the director derives any improper personal
        benefit. Any repeal or modification of the foregoing paragraph by the stockholders of the corporation shall not adversely affect any right or protection of a director of the corporation existing at the time of such repeal or modification.</div>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">21</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; font-weight: bold;">ELEVENTH.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Actions, Suits or Proceedings Other Than by or in the Right of the Corporation</u>. The corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed
        action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that he or she is or was or has agreed to become a director or officer of the
        corporation, or is or was serving or has agreed to serve at the request of the corporation as a director or officer of the corporation, or is or was serving or has agreed to serve at the request of the corporation as a director or officer of
        another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action alleged to have been taken or omitted in such capacity, against costs, charges, expenses (including attorneys&#8217; fees), judgments, fines and
        amounts paid in settlement actually and reasonably incurred by him or her or on his or her behalf in connection with such action, suit or proceeding and any appeal therefrom, if he or she acted in good faith and in a manner he or she reasonably
        believed to be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The termination of any action, suit or
        proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which he or she reasonably believed to
        be in, or not opposed to, the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his or her conduct was unlawful.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Actions or Suits by or in the Right of the Corporation</u>. The corporation shall indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in
        the right of the corporation to procure a judgment in its favor by reason of the fact that he or she is or was or has agreed to become a director or officer of the corporation or is or was serving or has agreed to serve at the request of the
        corporation as a director or officer of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action, alleged to have been taken or omitted in such capacity, against costs, charges and expenses (including
        attorneys&#8217; fees) actually and reasonably incurred by him or her or on his or her behalf in connection with the defense or settlement of such action or suit and any appeal therefrom, if he or she acted in good faith and in a manner he or she
        reasonably believed to be in, or not opposed to, the best interests of the corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the
        corporation unless and only to the extent that the Court of Chancery of Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of such liability but in view of all the
        circumstances of the case, such person is fairly and reasonably entitled to indemnity for such costs, charges and expenses which the Court of Chancery or such other court shall deem proper.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Indemnification for Costs, Charges and Expenses of Successful Party</u>. Notwithstanding the other provisions of this <u>Article&#160;ELEVENTH</u>, to the extent
        that a director or officer has been successful, on the merits or otherwise, including, without limitation, to the extent permitted by applicable law, the dismissal of an action without prejudice, in defense on any action, suit or proceeding
        referred to in <u>Paragraphs&#160;A</u> and <u>B</u> of this <u>Article&#160;ELEVENTH</u>, or in defense of any claim, issue or matter therein, he or she shall be indemnified against all costs, charges and expenses (including attorneys&#8217; fees) actually and reasonably incurred by him or her or
        on his or her behalf in connection therewith.</div>
    <div><br>
    </div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">22</font></div>
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    <div style="text-align: justify; text-indent: 36pt;">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Determination of Right to Indemnification</u>. Any indemnification under <u>Paragraphs&#160;A</u> and <u>B</u> of this <u>Article&#160;ELEVENTH</u> (unless ordered by a court) shall be paid by the corporation, if a determination is made that indemnification of the
        director or officer is proper in the circumstances because he or she has met the applicable standard of conduct set forth in <u>Paragraphs A</u> and <u>B</u> of this <u>Article&#160;ELEVENTH</u>. Such determination shall be made (i) by the board of directors by a majority vote of
        the directors who were not parties to such action, suit or proceeding, or (ii) if such majority of disinterested directors so directs, by independent legal counsel in a written opinion, or (iii) by the stockholders.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Advance of Costs</u>. Charges and Expenses. Costs, charges and expenses (including attorneys&#8217; fees) incurred by a person referred to in <u>Paragraphs A</u>
        and <u>B</u> of this <u>Article&#160;ELEVENTH</u> in defending a civil or criminal action, suit or proceeding
        shall be paid by the corporation in advance of the final disposition of such action or proceeding; <font style="font-style: italic;">provided</font>, <font style="font-style: italic;">however</font>, that the payment of such costs, charges and expenses incurred by a director or officer in his or her capacity as a director or officer (and not in any other capacity in which service was or
        is rendered by such person while a director or officer) in advance of the final disposition of such action, suit or proceeding shall be made only upon receipt of an undertaking by or on behalf of such director or officer to repay all amounts so
        advanced in the event that it shall ultimately be determined that such director or officer is not entitled to be indemnified by the corporation as authorized in this <u>Article&#160;ELEVENTH</u>.
        Such costs, charges and expenses incurred by other employees and agents may be so paid upon such terms and conditions, if any, as the majority of the directors deems appropriate. The majority of the directors may, in the manner set forth above, and
        upon approval of such director or officer of the corporation, authorize the corporation&#8217;s counsel to represent such person, in any action, suit or proceeding, whether or not the corporation is a party to such action, suit or proceeding.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">F.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Procedure for Indemnification</u>. Any indemnification under <u>Paragraphs&#160;A</u>, <u>B</u>
        and <u>C</u>, or advance of costs, charges and expenses under Paragraph E of this <u>Article&#160;ELEVENTH</u>
        shall be made promptly, and in any event within 60 days, upon the written request of the director or officer. The right to indemnification or advances as granted by this <u>Article&#160;ELEVENTH</u>
        shall be enforceable by the director or officer in any court of competent jurisdiction, if the corporation denies such request, in whole or in part, or if no disposition thereof is made within 60 days. Such person&#8217;s costs and expenses incurred in
        connection with successfully establishing his or her right to indemnification, in whole or in part, in any such action shall also be indemnified by the corporation. It shall be a defense to any such action (other than an action brought to enforce a
        claim for the advance of costs, charges and expenses under <u>Paragraph E</u> of this <u>Article&#160;ELEVENTH)</u>
        where the required undertaking, if any, has been received by the corporation that the claimant has not met the standard of conduct set forth in <u>Paragraphs A</u> and <u>B</u>, of this <u>Article&#160;ELEVENTH</u>, but the burden of proving such defense shall be on the corporation.
        Neither the failure of the corporation (including its board of directors, its independent legal counsel and its stockholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper in
        the circumstances because he or she has met the applicable standard of conduct set forth in <u>Paragraphs A</u> and <u>B</u> of this <u>Article&#160;ELEVENTH</u>, nor the fact that there has been an actual determination by the corporation (including its board of directors, its
        independent legal counsel and its stockholders) that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the claimant has not met the applicable standard of conduct.</div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt;">G.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Settlement</u>. The corporation shall not be obligated to reimburse the costs of any settlement to which it has not agreed. If in any action, suit or proceeding, including any appeal within the scope of <u>Paragraphs A</u> and <u>B</u> of this <u>Article&#160;ELEVENTH</u>,
        the person to be indemnified shall have unreasonably failed to enter into a settlement thereof offered or assented to by the opposing party or parties in such action, suit or proceeding, then, notwithstanding any other provision hereof the
        indemnification obligation of the corporation to such person in connection with such action, suit or proceeding shall not exceed the total of the amount at which settlement could have been made and the expenses incurred by such person prior to the
        time such settlement could reasonably have been effected.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">H.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Subsequent Amendment</u>. No amendment, termination or repeal of this <u>Article&#160;ELEVENTH</u> or of relevant provisions of the Delaware General Corporation
        Law or any other applicable law shall affect or diminish in any way the rights of any director or officer of the corporation to indemnification under the provisions hereof with respect to any action, suit or proceeding arising out of or relating
        to, any actions, transactions or facts occurring prior to the final adoption of such amendment termination or repeal.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Other Rights; Continuation of Right to Indemnification</u>. The indemnification provided by this <u>Article&#160;ELEVENTH</u> shall not be deemed exclusive of
        any other rights to which a director, officer, employee or agent seeking indemnification may be entitled under any law (common or statutory), agreement, vote of stockholders or disinterested directors or otherwise, both as to action in his or her
        official capacity and as to action in any other capacity while holding office or while employed by or acting as agent for the corporation, and shall continue as to a person who has ceased to be a director, officer, employee or agent, and shall
        inure to the benefit of the estate, heirs, executors and administrators of such person. Nothing contained in this <u>Article&#160;ELEVENTH</u> shall be deemed to prohibit and the
        corporation is specifically authorized to enter into agreements with officers and directors providing indemnification rights and procedures different from those set forth herein. All rights to indemnification under this <u>Article&#160;ELEVENTH</u> shall be deemed to be a contract between the corporation and each director or officer of the corporation who serves or served in such capacity at any time while this <u>Article&#160;ELEVENTH</u> is in effect. The corporation shall not consent to any acquisition, merger, consolidation or other similar transaction unless the successor corporation
        assumes by operation of law or by agreement the obligations set forth in this <u>Article&#160;ELEVENTH</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">J.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Savings Clause</u>. If this <u>Article&#160;ELEVENTH</u> or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then
        the corporation shall nevertheless indemnify each director or officer of the corporation as to any costs, charges, expenses (including attorney&#8217;s fees), judgments, fines and amounts paid in settlement with respect to any action, suit or proceeding,
        whether civil, criminal, administrative or investigative, including an action by or in the right of the corporation, to the full extent permitted by any applicable portion of this <u>Article&#160;ELEVENTH</u>
        that shall not have been invalidated and to the full extent permitted by applicable law.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">K.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Subsequent Legislation</u>. If the Delaware General Corporation Law is amended after the date hereof to further expand the indemnification permitted to directors and officers of the corporation, then the corporation shall
        indemnify such person to the fullest extent permitted by the Delaware General Corporation Law, as so amended.</div>
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    <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">TWELFTH.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Stockholder nominations of
        persons for election as directors of this corporation and stockholder proposals with respect to business to be conducted at an annual meeting of stockholders must, in order to be voted upon, be made in writing and delivered to the secretary of this
        corporation on or before 30 days (or such other period as may be established in the bylaws) in advance of the date (month and day) of the previous year&#8217;s annual meeting.</div>
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