<SEC-DOCUMENT>0001553350-17-000145.txt : 20170203
<SEC-HEADER>0001553350-17-000145.hdr.sgml : 20170203
<ACCEPTANCE-DATETIME>20170203122146
ACCESSION NUMBER:		0001553350-17-000145
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170203
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170203
DATE AS OF CHANGE:		20170203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PETMED EXPRESS INC
		CENTRAL INDEX KEY:			0001040130
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-DRUG STORES AND PROPRIETARY STORES [5912]
		IRS NUMBER:				650680967
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28827
		FILM NUMBER:		17571020

	BUSINESS ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
		BUSINESS PHONE:		9549794788

	MAIL ADDRESS:	
		STREET 1:		1441 SW 29 AVENUE
		CITY:			POMPANO BEACH
		STATE:			FL
		ZIP:			33069
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pets_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
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<HEAD>
<TITLE>Current Report</TITLE>
<META NAME="author" CONTENT="EDGAR FILING LLC">
<META NAME="date" CONTENT="04/28/2014">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<A NAME="eolPage1"></A><P style="margin:0px">&nbsp;<A NAME="FIS_TOP_OF_DOCUMENT"></A>&nbsp;<A NAME="B416715_8K_HTM"></A>&nbsp;<A NAME="FIS_FORM"></A>&nbsp;<A NAME="FIS_UNIDENTIFIED_TABLE"></A></P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial" align=center><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial; font-size:13.5pt" align=center><B>FORM 8-K</B></P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial" align=center><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial" align=center>Date of report (Date of earliest event reported): February 3, 2017</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=153.6 /><TD width=153.6 /><TD width=153.6 /><TD width=153.6 /><TD width=153.6 /></TR>
<TR><TD style="margin-top:0px" valign=top width=768 colspan=5><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>PetMed Express, Inc.<BR>
</U></B> (Exact name of registrant as specified in its charter)</P>
<P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>Florida</U></B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>000-28827</U></B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center><B><U>65-0680967</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(State or other jurisdiction<BR>
of incorporation)</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(Commission<BR>
File Number)</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding:0px; font-size:12pt">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=153.6><P style="margin:0px; padding-right:1.067px; font-family:Arial" align=center>(I.R.S. Employer<BR>
Identification No.)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=768 /></TR>
<TR><TD style="margin-top:0px" valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center><B><U>420 South Congress Avenue, Delray Beach, FL 33445</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center>(Address of principal executive offices) (Zip Code)</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=751.4 /><TD width=16.6 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=751.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center><B><U>(561) 526-4444</U></B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=16.6><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=751.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center>(Registrant&#146;s telephone number, including area code)</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=16.6><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=768 /></TR>
<TR><TD style="margin-top:0px" valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center><B><U>Not Applicable</U></B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=768><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman" align=center>(Former name or former address, if changed since last report)</P>
</TD></TR>
</TABLE>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial,Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=24.267 /><TD /></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; font-family:Wingdings; font-size:12pt">&#168;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; font-family:Wingdings; font-size:12pt">&#168;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; font-family:Wingdings; font-size:12pt">&#168;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=24.267><P style="margin:0px; font-family:Wingdings; font-size:12pt">&#168;</P>
</TD><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</TD><A NAME="eolPage2"></A><A NAME="FIS_OTHER_EVENTS"></A></TR>
</TABLE>
<P style="line-height:11.25pt; margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="line-height:11.25pt; margin:0px; page-break-before:always"><BR>
<BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD width=24.267 /><TD /></TR>
</TABLE>
<P style="line-height:0.05pt; margin:0px"><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px"><BR></P>
<P style="margin:0px; font-family:Arial,Times New Roman"><B>Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year</B>.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial,Times New Roman">On February 3, 2017, the Board of Directors (the &#147;Board&#148;) of PetMed Express, Inc. (the &#147;Company&#148;), &nbsp;in light of current corporate governance trends, determined it is in the best interests of the Company and the Company's stockholders to approve an amendment to the Bylaws of the Company (&#147;Existing Bylaws&#148;) and has adopted the First Amended and Restated Bylaws of the Company (&#147;First Amended and Restated Bylaws&#148;) incorporating the amendment, to provide for a change to the voting standard for election of directors from a plurality voting standard to a majority voting standard in uncontested director elections and a post-election resignation procedure to address nominees who fail to obtain the requisite vote. The Board believes the adoption of the majority voting standard in uncontested director elections, and the resignation procedures, will give the Company's stockholders a greater voice in determining the composition of the Board and will enhance the accountability of each elected director to the Company's stockholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial,Times New Roman">The Company's&nbsp;Existing Bylaws currently provide for election of directors by a plurality of the votes cast by the holders of shares of capital stock entitled to vote (that is, a nominee who receives the most &quot;FOR&quot; votes for a board seat is elected, regardless of the number of votes &quot;WITHHELD&quot; with respect to such nominee). The First Amended and Restated Bylaws implements a majority voting standard, under which each director nominee in an uncontested election must receive more &quot;FOR&quot; votes cast than &quot;AGAINST&quot; votes cast to be elected. Conversely, a director nominee in an uncontested election who does not receive more &quot;FOR&quot; votes cast than &quot;AGAINST&quot; votes cast would not be elected. Votes withheld, abstentions and broker non-votes will continue to have no effect on the outcome of an election. In the event that an incumbent director does not receive the requisite majority of votes cast in an uncontested election, the Company would follow a certain post-election resignation procedure (described below). In all contested director elections, in which a stockholder has duly nominated (and not withdrawn by a certain date) an individual for election to the Board, the plurality voting standard currently in effect would still apply.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial,Times New Roman">Under the post-election resignation procedure, any incumbent director who fails to receive the requisite number of votes for reelection in an uncontested election will be required to promptly tender his or her resignation to the Board. The Corporate Governance and Nominating Committee will then make a recommendation to the Board on whether to accept or reject the resignation, and the Board will make the ultimate decision as to whether to accept or reject the resignation by considering factors it deems relevant, such as the percentage of outstanding shares represented by the votes cast at the meeting, the director nominee's past and expected future contributions to the Company, the overall composition of the Board and committees of the Board, and whether accepting the tendered resignation would cause the Company to fail to meet any applicable rule or regulation (including the NASDAQ listing standards and the requirements of the federal securities laws). The Board will act on the resignation within 90 days following certification of the stockholder vote for the meeting and will promptly disclose its decision and rationale in a Current Report on Form 8-K filed with the SEC.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial,Times New Roman">The changes to the Existing Bylaws to implement the majority voting standard and post-election resignation procedures consist of the following:</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:Arial">Section 3.02(3) (Quorum and Voting Requirements for Voting Groups) is amended to provide a cross reference to Section 3.05(1) outlining the vote required for the election of directors;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:Arial">Section 3.04(3) (Shareholder Quorum and Voting; Greater or Lesser Voting Requirements) is amended to provide a cross reference to Section 3.05(1) outlining the vote required for the election of directors;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:Arial">Section 3.05(1) (Voting for Directors; No Cumulative Voting) is amended to provide for majority voting in uncontested elections, with plurality voting retained in contested elections;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:Arial">Section 4.21 (Resignation of Directors) is amended to clarify resignations are not always effective when notice is delivered if specified otherwise in the resignation; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:24px; width:48px; font-family:Symbol; clear:left; float:left">&#183;</P>
<P style="margin:0px; padding-left:48px; text-indent:-2px; font-family:Arial">Section 4.22 (Failed Director Election) is newly added to implement the post-election resignation procedure in the event an incumbent director fails to receive a majority of votes cast in an uncontested election.</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-family:Arial">The foregoing description of the First Amended and Restated Bylaws is subject to and qualified in its entirety by reference to the First Amended and Restated Bylaws, which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Arial" align=center>2</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Arial; page-break-before:always"><B>Item 9.01&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=77.733 /><TD width=24.2 /><TD width=666.067 /></TR>
<TR><TD style="margin-top:0px" valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">(d)</P>
</TD><TD style="margin-top:0px" valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial">Exhibits.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=77.733><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=24.2><P style="margin:0px; padding-right:1.067px; font-family:Arial">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=666.067><P style="margin:0px; padding-right:1.067px; font-family:Arial; color:#0000FF"><A HREF="pets_ex3z1.htm"><U>3.1</U></A><FONT style="color:#000000"> &#150; First Amended and Restated Bylaws of PetMed Express, Inc.</FONT></P>
</TD><A NAME="FIS_EXHIBIT_INDEX"></A></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial,Times New Roman" align=center><B>EXHIBIT INDEX</B></P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=80.8 /><TD width=17.133 /><TD width=652.933 /><TD width=17.133 /></TR>
<TR><TD style="margin-top:0px" valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman"><U>Exhibit No.</U></P>
</TD><TD style="margin-top:0px" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman"><U>Description</U></P>
</TD><TD style="margin-top:0px" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=80.8><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman; color:#0000FF"><A HREF="pets_ex3z1.htm"><U>3.1</U></A><FONT style="color:#000000"></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.133><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=652.933><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">First Amended and Restated Bylaws of PetMed Express, Inc.</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.133><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><A NAME="FIS_SIGNATURES"></A></TR>
</TABLE>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial,Times New Roman" align=center><B>SIGNATURES</B></P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P style="margin-top:15px; margin-bottom:0px; font-family:Arial,Times New Roman">Dated: February 3, 2017</P>
<P style="line-height:11.25pt; margin:0px"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width=100%><TR height=0 style="font-size:0"><TD /><TD width=46.4 /><TD width=338.2 /></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=384.6 colspan=2><P style="margin:0px; padding-right:2.4px; font-family:Arial,Times New Roman">PETMED EXPRESS, INC.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=338.2><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">By:</P>
</TD><TD style="margin-top:0px" valign=top width=338.2><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman"><U>/s/ Bruce S. Rosenbloom</U></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">Name:</P>
</TD><TD style="margin-top:0px" valign=top width=338.2><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">Bruce S. Rosenbloom</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">Title:</P>
</TD><TD style="margin-top:0px" valign=top width=338.2><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">Chief Financial Officer</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=46.4><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=338.2><P style="margin:0px; padding-right:1.067px; font-family:Arial,Times New Roman">&nbsp;</P>
</TD></TR>
</TABLE>
<P style="margin-top:12.533px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px; font-family:Arial,Times New Roman" align=center>3</P>
<P style="margin-top:12.533px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px" align=center><BR></P>
<P style="margin-top:12.533px; margin-bottom:0px" align=center><BR>
<BR></P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>pets_ex3z1.htm
<DESCRIPTION>FIRST AMENDED AND RESTATED BYLAWS
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>FIRST AMENDED AND RESTATED BYLAWS</TITLE>
<META NAME="author" CONTENT="Alison Berges">
<META NAME="date" CONTENT="02/03/2017">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<DIV style="width:720px"><P style="margin:0px; font-family:Courier New" align=right><B>EXHIBIT 3.1</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New" align=center>FIRST AMENDED AND RESTATED BYLAWS</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New" align=center>OF</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New" align=center>PETMED EXPRESS, INC.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New" align=center>a Florida corporation</P>
<P style="margin:0px; font-family:Courier New" align=center>(the &#147;corporation&#148;)</P>
<P style="margin:0px; font-family:Courier New" align=center>adopted on February 3, 2017</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEX</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-----</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAGE</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE I</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;---------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offices</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 1.01 &nbsp;Principal Office .............................................. &nbsp;1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 1.02 &nbsp;Registered Office ............................................. &nbsp;1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 1.03 &nbsp;Other Offices ................................................. &nbsp;1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE II</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meetings of Shareholders</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;------------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.01 &nbsp;Annual Meeting ................................................ &nbsp;1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.02 &nbsp;Special Meetings .............................................. &nbsp;1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.03 &nbsp;Shareholders' List for Meeting ................................ &nbsp;2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.04 &nbsp;Record Date ................................................... &nbsp;2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.05 &nbsp;Notice of Meetings and Adjournment ............................ &nbsp;3</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.06 &nbsp;Waiver of Notice .............................................. &nbsp;3</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE III</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholder Voting</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.01 &nbsp;Voting Group Defined .......................................... &nbsp;4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.02 &nbsp;Quorum and Voting Requirements for</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voting Groups .................................... &nbsp;4</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.03 &nbsp;Action by Single and Multiple Voting</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Groups ........................................... &nbsp;4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.04 &nbsp;Shareholder Quorum and Voting; Greater</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;or Lesser Voting Requirements .................... &nbsp;4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.05 &nbsp;Voting for Directors; Cumulative Voting ....................... &nbsp;5</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.06 &nbsp;Voting Entitlement of Shares .................................. &nbsp;5</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.07 &nbsp;Proxies ....................................................... &nbsp;7</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.08 &nbsp;Shares Held by Nominees ....................................... &nbsp;7</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.09 &nbsp;Corporation's Acceptance of Votes ............................. &nbsp;8</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.10 &nbsp;Action by Shareholders Without Meeting ........................ &nbsp;8</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.11 &nbsp;Frequency of Solicitations for Action</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by Shareholders Without a Meeting ................ 11</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE IV</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Directors and Officers</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-------------------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.01 &nbsp;Qualifications of Directors ................................... 11</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.02 &nbsp;Number of Directors ........................................... 11</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.03 &nbsp;Terms of Directors Generally .................................. 11</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.04 &nbsp;Staggered Terms for Directors ................................. 12</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.05 &nbsp;Vacancy on Board .............................................. 12</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.06 &nbsp;Compensation of Directors ..................................... 12</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.07 &nbsp;Meetings ...................................................... 12</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.08 &nbsp;Action by Directors Without a Meeting ......................... 13</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.09 &nbsp;Notice of Meetings ............................................ 13</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.10 &nbsp;Waiver of Notice .............................................. 13</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.11 &nbsp;Quorum and Voting ............................................. 13</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.12 &nbsp;Powers of the Directors ....................................... 13</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.13 &nbsp;Committees .................................................... 14</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.14 &nbsp;Loans to Officers, Directors and</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees; Guaranty of Obligations ............... 15</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.15 &nbsp;Required Officers ............................................. 15</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.16 &nbsp;Duties of Officers ............................................ 15</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.17 &nbsp;Resignation and Removal of Officers ........................... 15</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.18 &nbsp;Contract Rights of Officers ................................... 15</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.19 &nbsp;General Standards for Directors ............................... 15</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.20 &nbsp;Director Conflicts of Interest ................................ 16</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.21 &nbsp;Resignation of Directors ...................................... 17</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.22 &nbsp;Failed Director Elections ..................................... 17</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE V</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;---------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors, Officers,</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;---------------------------------------</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees and Agents</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;--------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 5.01 &nbsp;Directors, Officers, Employees</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Agents ....................................... 17</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VI</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Office and Agent</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 6.01 &nbsp;Registered Office and Registered</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agent ............................................ 21</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 6.02 &nbsp;Change of Registered Office or Registered</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agent; Resignation of Registered Agent ........... 21</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VII</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares, Option, Dividends and Distributions</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-------------------------------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.01 &nbsp;Authorized Shares ............................................. 22</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.02 &nbsp;Terms of Class or Series Determined</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by Board of Directors ............................ 23</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.03 &nbsp;Issued and Outstanding Shares ................................. 23</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.04 &nbsp;Issuance of Shares ............................................ 23</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.05 &nbsp;Form and Content of Certificates .............................. 24</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.06 &nbsp;Shares Without Certificates ................................... 24</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.07 &nbsp;Restriction on Transfer of Shares</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Other Securities ............................. 25</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.08 &nbsp;Shareholder's Pre-emptive Rights .............................. 25</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.09 &nbsp;Corporation's Acquisition of its</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Own Shares ....................................... 25</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.10 &nbsp;Share Options ................................................. 25</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.11 &nbsp;Terms and Conditions of Stock Rights</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and Options ...................................... 26</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.12 &nbsp;Share Dividends ............................................... 26</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 7.13 &nbsp;Distribution to Shareholders .................................. 26</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE VIII</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment of Articles and Bylaws</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;--------------------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.01 &nbsp;Authority to Amend the Articles of</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incorporation .................................... 27</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.02 &nbsp;Amendment by Board of Directors ............................... 28</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.03 &nbsp;Amendment of Bylaws by Board of</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors ........................................ 28</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.04 &nbsp;Bylaw Increasing Quorum or Voting</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requirements for Directors ....................... 28</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE IX</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;----------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Records and Report</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;------------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 9.01 &nbsp;Corporate Records ............................................. 29</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 9.02 &nbsp;Financial Statements for Shareholders ......................... 29</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 9.03 &nbsp;Other Reports to Shareholders ................................. 30</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 9.04 &nbsp;Annual Report for Department of State ......................... 30</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ARTICLE X</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;---------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-------------</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 10.01 Definition of the &quot;Act&quot; ....................................... 31</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 10.02 Application of Florida Law .................................... 31</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 10.03 Fiscal Year ................................................... 31</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 10.04 Conflicts with Articles of Incorporation ...................... 31</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 10.05 Partial Invalidity ............................................ 31</P>
<P style="margin:0px"><BR>
<BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE I</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Offices</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 1.01. Principal Office.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal office of the corporation in the State of Florida shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be established at such places as the board of directors from time to time</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determine.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 1.02. Registered Office.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registered office of the corporation in the State of Florida shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be at the office of its registered agent as stated in the articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation or as the board of directors shall from time to time determine.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 1.03. Other Offices.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The corporation may have additional offices at such other places,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">either within or without the State of Florida, as the board of directors may</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">from time to time determine or the business of the corporation may require.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE II</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meetings of Shareholders</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 2.01. Annual Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall hold a meeting of shareholders annually, for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the election of directors and for the transaction of any proper business, at a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">time stated in or fixed in accordance with a resolution of the board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Annual shareholders' meeting may be held in or out of the State of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Florida at a place stated in or fixed in accordance with a resolution by the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">board of directors or, when not inconsistent with the board of directors'</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">resolution stated in the notice of the annual meeting. If no place is stated in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or fixed in accordance with these bylaws, or stated in the notice of the annual</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting, annual meetings shall be held at the corporation's principal office.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The failure to hold the annual meeting at the time stated in or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fixed in accordance with these bylaws or pursuant to the Act does not affect the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">validity of any corporate action and shall not work a forfeiture of or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">dissolution of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 2.02. Special Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall hold a special meeting of shareholders:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On call of its board of directors or the person or persons</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">authorized to do so by the board of directors; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the holders of not less than twenty (20%) percent of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">all votes entitled to be cast on any issue proposed to be considered at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proposed special meeting sign, date and deliver to the corporation's secretary</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">one or more written demands for the meeting describing the purpose or purposes</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for which it is to be held.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Special shareholders' meetings may be held in or out of the State</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of Florida at a place stated in or fixed in accordance with a resolution of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">board of directors, or, when not inconsistent with the board of directors'</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">resolution, in the notice of the special meeting. If no place is stated in or</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[1]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">fixed in accordance with these bylaws or in the notice of the special meeting,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">special meetings shall be held at the corporation's principal office.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Only business within the purpose or purposes described in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">special meeting notice may be conducted at a special shareholders' meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 2.03. Shareholders' List for Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) After fixing a record date for a meeting, a corporation shall prepare a list of the names of all its shareholders who are entitled to notice of a shareholders' meeting, in accordance with the Florida Business Corporation Act (the &quot;Act&quot;), or arranged by voting group, with the address of, and the number and class and series, if any, of shares held by, each.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The shareholders' list must be available for inspection by any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder for a period of ten days prior to the meeting or such shorter time</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as exists between the record date and the meeting and continuing through the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting at the corporation's principal office, at a place identified in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting notice in the city where the meeting will be held, or at the office of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation's transfer agent or registrar. A shareholder or his agent or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">attorney is entitled on written demand to inspect the list (subject to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">requirements of Section 607.1602(3) of the Act), during regular business hours</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and at his expense, during the period it is available for inspection.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The corporation shall make the shareholders' list available at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting, and any shareholder or his agent or attorney is entitled to inspect the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">list at any time during the meeting or any adjournment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 2.04. Record Date.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors may set a record date for purposes of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determining the shareholders entitled to notice of and to vote at a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders' meeting; however, in no event may a record date fixed by the board</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of directors be a date preceding the date upon which the resolution fixing the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">record date is adopted.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Unless otherwise fixed by the board of directors, the record date</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for determining shareholders entitled to demand a special meeting is the date</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the first shareholder delivers his demand to the corporation. In the event that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the board of directors sets the record date for a special meeting of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders, it shall not be a date preceding the date upon which the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation receives the first demand from a shareholder requesting a special</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If no prior action is required by the board of directors pursuant</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to the Act, and, unless otherwise fixed by the board of directors, the record</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">date for determining shareholders entitled to take action without a meeting is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the date the first signed written consent is delivered to the corporation under</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 607.0704 of the Act. If prior action is required by the board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors pursuant to the Act, the record date for determining shareholders</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitled to take action without a meeting is at the close of business on the day</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">on which the board of directors adopts the resolution taking such prior action.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Unless otherwise fixed by the board of directors, the record date</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for determining shareholders entitled to notice of and to vote at an annual or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">special shareholders' meeting is the close of business on the day before the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">first notice of such annual or special shareholders' meeting is delivered to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[2]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) A record date may not be more than seventy (70) days before the</P>
<P style="margin:0px; font-family:Courier New">meeting or action requiring a determination of shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) A determination of shareholders entitled to notice of or to vote at</P>
<P style="margin:0px; font-family:Courier New">a shareholders' meeting is effective for any adjournment of the meeting unless</P>
<P style="margin:0px; font-family:Courier New">the board of directors fixes a new record date, which it must do if the meeting</P>
<P style="margin:0px; font-family:Courier New">is adjourned to a date more than one hundred twenty (120) days after the date</P>
<P style="margin:0px; font-family:Courier New">fixed for the original meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.05. Notice of Meetings and Adjournment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall notify shareholders of the date, time and</P>
<P style="margin:0px; font-family:Courier New">place of each annual and special shareholders' meeting no fewer than ten (10) or</P>
<P style="margin:0px; font-family:Courier New">more than sixty (60) days before the meeting date. Unless the Act requires</P>
<P style="margin:0px; font-family:Courier New">otherwise, the corporation is required to give notice only to shareholders</P>
<P style="margin:0px; font-family:Courier New">entitled to vote at the meeting. Notice shall be given in the manner provided in</P>
<P style="margin:0px; font-family:Courier New">Section 607.0141 of the Act, by or at the direction of the president, the</P>
<P style="margin:0px; font-family:Courier New">secretary, of the officer or persons calling the meeting. If the notice is</P>
<P style="margin:0px; font-family:Courier New">mailed at least thirty (30) days before the date of the meeting, it may be done</P>
<P style="margin:0px; font-family:Courier New">by a class of United States mail other than first class. Notwithstanding Section</P>
<P style="margin:0px; font-family:Courier New">607.0141, if mailed, such notice shall be deemed to be delivered when deposited</P>
<P style="margin:0px; font-family:Courier New">in the United Statement mail addressed to the shareholder at his address as it</P>
<P style="margin:0px; font-family:Courier New">appears on the stock transfer books of the corporation, with postage thereon</P>
<P style="margin:0px; font-family:Courier New">prepaid.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Unless the Act or the articles of incorporation requires otherwise,</P>
<P style="margin:0px; font-family:Courier New">notice of an annual meeting need not include a description of the purpose or</P>
<P style="margin:0px; font-family:Courier New">purposes for which the meeting is called.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Notice of a special meeting must include a description of the</P>
<P style="margin:0px; font-family:Courier New">purpose or purposes for which the meeting is called.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) If an annual or special shareholders meeting is adjourned to a</P>
<P style="margin:0px; font-family:Courier New">different date, time, or place, notice need not be given of the new date, time,</P>
<P style="margin:0px; font-family:Courier New">or place if the new date, time or place is announced at the meeting before</P>
<P style="margin:0px; font-family:Courier New">adjournment is taken, and any business may be transacted at the adjourned</P>
<P style="margin:0px; font-family:Courier New">meeting that might have been transacted on the original date of the meeting. If</P>
<P style="margin:0px; font-family:Courier New">a new record date is or must be fixed under Section 607.0707 of the Act,</P>
<P style="margin:0px; font-family:Courier New">however, notice of the adjourned meeting must be given under this section to</P>
<P style="margin:0px; font-family:Courier New">persons who are shareholders as of the new record date who are entitled to</P>
<P style="margin:0px; font-family:Courier New">notice of the meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Notwithstanding the foregoing, no notice of a shareholders' meeting</P>
<P style="margin:0px; font-family:Courier New">need be given if: (a) an annual report and proxy statements for two (2)</P>
<P style="margin:0px; font-family:Courier New">consecutive annual meetings of shareholders, or (b) all, and at least two (2)</P>
<P style="margin:0px; font-family:Courier New">checks in payment of dividends or interest on securities during a 12-month</P>
<P style="margin:0px; font-family:Courier New">period, have been sent by first-class United States mail, addressed to the</P>
<P style="margin:0px; font-family:Courier New">shareholder at his address as it appears on the share transfer books of the</P>
<P style="margin:0px; font-family:Courier New">corporation, and returned undeliverable. The obligation of the corporation to</P>
<P style="margin:0px; font-family:Courier New">give notice of a shareholders' meeting to any such shareholder shall be</P>
<P style="margin:0px; font-family:Courier New">reinstated once the corporation has received a new address for such shareholder</P>
<P style="margin:0px; font-family:Courier New">for entry on its share transfer books.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 2.06. Waiver of Notice.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A shareholder may waive any notice required by the Act, the</P>
<P style="margin:0px; font-family:Courier New">articles of incorporation, or bylaws before or after the date and time stated in</P>
<P style="margin:0px; font-family:Courier New">the notice. The waiver must be in writing, be signed by the shareholder entitled</P>
<P style="margin:0px; font-family:Courier New">to the notice, and be delivered to the corporation for inclusion in the minutes</P>
<P style="margin:0px; font-family:Courier New">or filing with the corporate records. Neither the business to be transacted at</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[3]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">nor the purpose of any regular or special meeting of the shareholders need be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">specified in any written waiver of notice.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A shareholder's attendance at a meeting: (a) Waives objection to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">lack of notice or defective notice of the meeting, unless the shareholder at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">beginning of the meeting objects to holding the meeting or transacting business</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">at the meeting; or (b) waives objection to consideration of a particular matter</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">at the meeting that is not within the purpose or purposes described in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting notice, unless the shareholder objects to considering the matter when it</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is presented.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE III</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholder Voting</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.01. Voting Group Defined.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A &quot;voting group&quot; means all shares of one or more classes or series that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">under the articles of incorporation or the Act are entitled to vote and be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">counted together collectively on a matter at a meeting of shareholders. All</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares entitled by the articles of incorporation or the Act to vote generally on</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the matter are for that purpose a single voting group.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.02. Quorum and Voting Requirements for Voting Groups.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Shares entitled to vote as a separate voting group may take action</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">on a matter at a meeting only if a quorum of those shares exists with respect to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that matter. Unless the articles of incorporation or the Act provides otherwise,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">a majority of the votes entitled to be cast on the matter by the voting group</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">constitutes a quorum of that voting group for action on that matter.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Once a share is represented for any purpose at a meeting, it is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">deemed present for quorum purposes for the remainder of the meeting and for any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">adjournment of that meeting unless a new record date is or must be set for that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">adjourned meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If a quorum exists, action on a matter other than the election of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Directors as to which the requisite vote is outlined in Section 3.05(1) by a voting group </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is approved if the votes cast within the voting group favoring the action exceed the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">votes cast opposing the action, unless the articles of incorporation or the Act requires </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">a greater number of affirmative votes.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.03. Action by Single and Multiple Voting Groups.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the articles of incorporation or the Act provides for voting by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">a single voting group on a matter, action on that matter is taken when voted</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">upon by that voting group as provided in Section 3.02 of these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the articles of incorporation or the Act provides for voting by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">two or more voting groups on a matter, action on that matter is taken only when</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">voted upon by each of those voting groups counted separately as provided in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.02 of these bylaws. Action may be taken by one voting group on a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">matter even though no action is taken by another voting group entitled to vote</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">on the matter.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.04. Shareholder Quorum and Voting; Greater or Lesser Voting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requirements.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A majority of the shares entitled to vote, represented in person or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by proxy, shall constitute a quorum at a meeting of shareholders. When a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">specified item of business is required to be voted on by a class or series of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">stock, a majority of the shares of such class or series shall constitute a</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[4]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">quorum for the transaction of such item of business by that class or series.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) An amendment to the articles of incorporation that changes the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">quorum to a greater or lesser quorum or voting requirement must meet the same</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">quorum requirement and be adopted by the same vote required to take action under</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the quorum and voting requirements then in effect or proposed to be adopted,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whichever is greater.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If a quorum exists, action on a matter, other than the election of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Directors as to which the requisite vote is outlined in Section 3.05(1), is approved if </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the votes cast by the holders of the shares represented at the meeting and entitled to </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">vote on the subject matter favoring the action exceed the votes cast opposing the action, </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">unless a greater number of affirmative votes or voting by classes is required by the Act </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or the articles of incorporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) After a quorum has been established at a shareholders~ meeting, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">subsequent withdrawal of shareholders, so as to reduce the number of shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitled to vote at the meeting below the number required for a quorum, shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">not affect the validity of any action taken at the meeting or any adjournment</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">thereof.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.05. Voting for Directors: No Cumulative Voting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A nominee for director of the corporation shall only be elected if, at any </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting of the shareholders held for the election of directors at which a quorum is </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">present, the votes cast for the nominee's election exceed the votes cast against the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">nominee's election; provided, however, that a plurality of all votes cast at a meeting of </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders at which a quorum is present is sufficient to elect a nominee to the Board </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">if, in connection with the meeting, (i) a shareholder has duly nominated an individual </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for election to the Board in accordance with the advance notice and other nomination </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">procedures and requirements adopted by the corporation from time to time, and (ii) the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder nomination has not been withdrawn on or prior to the date that is fourteen </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">(14) days prior to the date on which the corporation first mails its notice of meeting to </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shareholders. Votes cast &quot;for&quot; and &quot;against&quot; a nominee shall exclude votes </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&quot;withheld&quot;, &quot;abstentions&quot; and &quot;broker non-votes&quot; with respect to that nominee's election. </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">If directors are to be elected by a plurality of the votes cast, stockholders shall not </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be permitted to vote against a nominee.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Each shareholder who is entitled to vote at an election of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors has the right to vote the number of shares owned by him for as many</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">persons as there are directors to be elected and for whose election he has a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">right to vote. Shareholders do not have a right to cumulate their votes for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.06. Voting Entitlement of Shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unless the articles of incorporation or the Act provides otherwise,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">each outstanding share, regardless of class, is entitled to one vote on each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">matter submitted to a vote at a meeting of shareholders. Only shares are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitled to vote.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The shares of the corporation are not entitled to vote if they are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">owned, directly or indirectly, by a second corporation, domestic or foreign, and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the first corporation owns, directly or indirectly, a majority of shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitled to vote for directors of the second corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) This section does not limit the power of the corporation to vote</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any shares, including its own shares, held by it in a fiduciary capacity.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Redeemable shares are not entitled to vote on any matter, and shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">not be deemed to be outstanding, after notice of redemption is mailed to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">holders thereof and a sum sufficient to redeem such shares has been deposited</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[5]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">with a bank, trust company, or other financial institution upon an irrevocable</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">obligation to pay the holders the redemption price upon surrender of the shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Shares standing in the name of another corporation, domestic or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">foreign, may be voted by such officer, agent, or proxy as the bylaws of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporate shareholder may prescribe or, in the absence of any applicable</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provision, by such person as the board of directors of the corporate shareholder</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">may designate. In the absence of any such designation or in case of conflicting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">designation by the corporate shareholder, the chairman of the board, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">president, any vice president, the secretary, and the treasurer of the corporate</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder, in that order, shall be presumed to be fully authorized to vote</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Shares held by an administrator, executor, guardian, personal</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">representative, or conservator may be voted by him, either in person or by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proxy, without a transfer of such shares into his name. Shares standing in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">name of a trustee may be voted by him, either in person or by proxy, but no</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">trustee shall be entitled to vote shares held by him without a transfer of such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares into his name or the name of his nominee.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Shares held by or under the control of a receiver, a trustee in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">bankruptcy proceedings, or an assignee for the benefit of creditors may be voted</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by him without the transfer thereof into his name.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) If a share or shares stand of record in the names of two or more</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">persons, whether fiduciaries, members of a partnership, joint tenants, tenants</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in common, tenants by the entirety, or otherwise, or if two or more persons have</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the same fiduciary relationship respecting the same shares, unless the secretary</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the corporation is given notice to the contrary and is furnished with a copy</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the instrument or order appointing them or creating the relationship wherein</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">it is so provided, then acts with respect to voting have the following effect:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If only one votes, in person or in proxy, his act binds</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">all;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If more than one vote, in person or by proxy, the act of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the majority so voting binds all;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If more than one vote, in person or by proxy, but the vote</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is evenly split on any particular matter, each faction is entitled to vote the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">share or shares in question proportionally;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If the instrument or order so filed shows that any such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">tenancy is held in unequal interest, a majority or a vote evenly split for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purposes of this subsection shall be a majority or a vote evenly split in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interest;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The principles of this subsection shall apply, insofar as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">possible, to execution of proxies, waivers, consents, or objections and for the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purpose of ascertaining the presence of a quorum;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Subject to Section 3.08 of these bylaws, nothing herein</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">contained shall prevent trustees or other fiduciaries holding shares registered</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in the name of a nominee from causing such shares to be voted by such nominee as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the trustee or other fiduciary may direct. Such nominee may vote shares as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directed by a trustee or their fiduciary without the necessity of transferring</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shares to the name of the trustee or other fiduciary.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[6]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.07. Proxies.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A shareholder, other person entitled to vote on behalf of a</P>
<P style="margin:0px; font-family:Courier New">shareholder pursuant to Section 3.06 of these bylaws, or attorney in fact may</P>
<P style="margin:0px; font-family:Courier New">vote the shareholder's shares in person or by proxy.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A shareholder may appoint a proxy to vote or otherwise act for him</P>
<P style="margin:0px; font-family:Courier New">by signing an appointment form, either personally or by his attorney in fact. An</P>
<P style="margin:0px; font-family:Courier New">executed telegram or cablegram appearing to have been transmitted by such</P>
<P style="margin:0px; font-family:Courier New">person, or a photographic, photostatic, or equivalent reproduction of an</P>
<P style="margin:0px; font-family:Courier New">appointment form, is a sufficient appointment form.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) An appointment of a proxy is effective when received by the</P>
<P style="margin:0px; font-family:Courier New">secretary or other officer or agent authorized to tabulate votes. An appointment</P>
<P style="margin:0px; font-family:Courier New">is valid for up to eleven (11) months unless a longer period is expressly</P>
<P style="margin:0px; font-family:Courier New">provided in the appointment form.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The death or incapacity of the shareholder appointing a proxy does</P>
<P style="margin:0px; font-family:Courier New">not affect the right of the corporation to accept the proxy's authority unless</P>
<P style="margin:0px; font-family:Courier New">notice of the death or incapacity is received by the secretary or other officer</P>
<P style="margin:0px; font-family:Courier New">or agent authorized to tabulate votes before the proxy exercises his authority</P>
<P style="margin:0px; font-family:Courier New">under the appointment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) An appointment of a proxy is revocable by the shareholder unless</P>
<P style="margin:0px; font-family:Courier New">the appointment form conspicuously states that it is irrevocable and the</P>
<P style="margin:0px; font-family:Courier New">appointment is coupled with an interest. Appointments coupled with an interest</P>
<P style="margin:0px; font-family:Courier New">include the appointment of: (a) a pledgee; (b) a person who purchased or agreed</P>
<P style="margin:0px; font-family:Courier New">to purchase the shares; (c) a creditor of the corporation who extended credit to</P>
<P style="margin:0px; font-family:Courier New">the corporation under terms requiring the appointment; (d) an employee of the</P>
<P style="margin:0px; font-family:Courier New">corporation whose employment contract requires the appointment; or (e) a party</P>
<P style="margin:0px; font-family:Courier New">to a voting agreement created in accordance with the Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) An appointment made irrevocable under this section becomes</P>
<P style="margin:0px; font-family:Courier New">revocable when the interest with which it is coupled is extinguished and, in a</P>
<P style="margin:0px; font-family:Courier New">case provided for in Subsection 5(c) or 5(d), the proxy becomes revocable three</P>
<P style="margin:0px; font-family:Courier New">(3) years after the date of the proxy or at the end of the period, if any,</P>
<P style="margin:0px; font-family:Courier New">specified herein, whichever is less, unless the period of irrevocability is</P>
<P style="margin:0px; font-family:Courier New">renewed from time to time by the execution of a new irrevocable proxy as</P>
<P style="margin:0px; font-family:Courier New">provided in this section. This does not affect the duration of a proxy under</P>
<P style="margin:0px; font-family:Courier New">subsection (3).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) A transferee for value of shares subject to an irrevocable</P>
<P style="margin:0px; font-family:Courier New">appointment may revoke the appointment if he did not know of its existence when</P>
<P style="margin:0px; font-family:Courier New">he acquired the shares and the existence of the irrevocable appointment was not</P>
<P style="margin:0px; font-family:Courier New">noted conspicuously on the certificate representing the shares or on the</P>
<P style="margin:0px; font-family:Courier New">information statement for shares without certificates.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Subject to Section 3.09 of these bylaws and to any express</P>
<P style="margin:0px; font-family:Courier New">limitation on the proxy's authority appearing on the face of the appointment</P>
<P style="margin:0px; font-family:Courier New">form, a corporation is entitled to accept the proxy's vote or other action as</P>
<P style="margin:0px; font-family:Courier New">that of the shareholder making the appointment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) If an appointment form expressly provides, any proxy holder may</P>
<P style="margin:0px; font-family:Courier New">appoint, in writing, a substitute to act in his place.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 3.08. Shares Held by Nominees.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation may establish a procedure by which the beneficial</P>
<P style="margin:0px; font-family:Courier New">owner of shares that are registered in the name of a nominee is recognized by</P>
<P style="margin:0px; font-family:Courier New">the corporation as the shareholder. The extent of this recognition may be</P>
<P style="margin:0px; font-family:Courier New">determined in the procedure.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[7]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The procedure may set forth (a) the types of nominees to which it</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">applies; (b) the rights or privileges that the corporation recognizes in a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">beneficial owner; (c) the manner in which the procedure is selected by the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">nominee; (d) the information that must be provided when the procedure is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">selected; (e) the period for which selection of the procedure is effective; and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">(f) other aspects of the rights and duties created.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.09. Corporation's Acceptance of Votes.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the name signed on a vote, consent, waiver, or proxy appointment</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corresponds to the name of a shareholder, the corporation if acting in good</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">faith is entitled to accept the vote, consent waiver, or proxy appointment and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">give it effect as the act of the shareholder.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the name signed on a vote, consent, waiver, or proxy appointment</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">does not correspond to the name of its shareholder, the corporation if acting in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">good faith is nevertheless entitled to accept the vote, consent, waiver, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proxy appointment and give it effect as the act of the shareholder if: (a) the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder is an entity and the name signed purports to be that of an officer</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or agent of the entity; (b) the name signed purports to be that of an</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">administrator, executor, guardian, personal representative, or conservator</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">representing the shareholder and, if the corporation requests, evidence of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fiduciary status acceptable to the corporation has been presented with respect</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to the vote, consent, waiver, or proxy appointment; (c) the name signed purports</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to be that of a receiver, trustee in bankruptcy, or assignee for the benefit of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">creditors of the shareholder and, if the corporation requests, evidence of this</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">status acceptable to the corporation has been presented with respect to the vote, </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consent, waiver, or proxy appointment; (d) the name signed purports to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that of a pledgee, beneficial owner, or attorney in fact of the shareholder and, if the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation requests, evidence acceptable to the corporation of the signatory's authority </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to sign for the shareholder has been presented with respect to the vote, consent, waiver, </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or proxy appointment; or (e) two or more persons are the shareholder as covenants or </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fiduciaries and the name signed purports to be the name of at least one of the co-owners </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and the person signing appears to be acting on behalf of all the co-owners.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The corporation is entitled to reject a vote, consent, waiver, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proxy appointment if the secretary or other officer or agent authorized to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">tabulate votes, acting in good faith, has reasonable basis for doubt about the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">validity of the signature on it or about the signatory's authority to sign for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shareholder.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The corporation and its officer or agent who accepts or rejects a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">vote, consent, waiver, or proxy appointment in good faith and in accordance with</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the standards of this section are not liable in damages to the shareholder for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the consequences of the acceptance or rejection.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Corporate action based on the acceptance or rejection of a vote,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consent, waiver, or proxy appointment under this section is valid unless a court</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of competent jurisdiction determines otherwise.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.10. Action by Shareholders Without Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Action by Written Consent. Any action which is required to be or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">may be taken at any annual or special meeting of the shareholders of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation may be taken without a meeting, without prior notice and without a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">vote, if written consents which set forth the specific corporate action (the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&quot;Corporate Action&quot;) to be taken have been signed by the holders of outstanding</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares of common stock which possess not less than the minimum number of votes</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">necessary to authorize or take such Corporate Action at an annual or special</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting of shareholders at which all outstanding shares of common stock are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">represented and the other requirements contained herein and in the corporation's</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[8]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">articles of incorporation and Florida law are complied with.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Determination of Record Date for Action by Written Consent. In</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">order to inform the corporation's shareholders and the investing public in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">advance that a record date for action by written consent will occur and in order</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that the corporation may determine the shareholders entitled to consent to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Corporate Action in writing without a meeting, the Board of Directors may fix a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">record date for such action, which record date shall not precede the date upon</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">which the resolution fixing the record date is adopted by the Board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Directors, and which record date shall not be more than ten (10) business days</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">after the date upon which the resolution fixing such record date is adopted by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the Board of Directors. Any Soliciting Party (as defined herein) who seeks to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">have the shareholders authorize or take a Corporate Action by written consent</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">must advise the corporation by written notice (the &quot;Solicitation Notice&quot;)</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">delivered to the Secretary of the corporation (the &quot;Secretary&quot;), which must be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">delivered by certified mail, overnight courier or hand delivery, of the proposed </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Corporate Action for which written consents will be sought and request that the Board of </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Directors fix a record date. The record date for determining shareholders entitled to </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consent to the Corporate Action in writing shall be fixed by the Board of Directors by </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">resolution within ten (10) business days after the date of delivery of the Solicitation </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Notice. If the Board of Directors does not fix a record date within the ten (10) business</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">day-period after the date of delivery of the Solicitation Notice, and no prior action by </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the Board of Directors is required by Florida law, the corporation's articles of </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation or these bylaws, the record date shall be the first date on which a valid </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">signed consent setting forth the Corporate Action is delivered to the corporation in </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">accordance with Florida law, the corporation's articles of incorporation and these </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">bylaws. If the Board of Directors does not fix a record date within the ten (10) business </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">day-period after the date of delivery of the Solicitation Notice and prior action by the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Board of Directors is required by Florida law, the corporation's articles of </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation or these bylaws, the record date shall be at the close of business on the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">day on which the Board of Directors adopts the resolution taking such prior action.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Duration and Revocation of Consents. Consents to a Corporate Action</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall only be valid during the period ending sixty (60) days after the date the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">first valid signed consent regarding the proposed Corporate Action is delivered</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to the corporation in accordance with Florida law, the corporation's articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation and these bylaws. Consents may be revoked by written notice to (i)</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the Secretary or (ii) any other officer or agent of the corporation having</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">custody of the book in which proceedings of meetings of shareholders are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">recorded.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Retention and Duties of Inspector. Within fifteen (15) business</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">days after receipt of a Solicitation Notice, the Secretary shall engage a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">nationally-recognized independent inspector of elections (the &quot;Inspector&quot;) to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">perform a review of any consents and revocations related to such Solicitation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Notice. The Inspector shall review all such consents and revocations, determine</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whether the requisite number of valid and unrevoked consents has been obtained</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to authorize or take the Corporate Action specified in the consents, and certify</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such determination for entry in the records of the corporation. All costs of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">retaining the Inspector shall be borne by the party which is soliciting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consents. For the purpose of permitting the Inspector to perform such review, no</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">action by written consent without a meeting shall be effective until such date</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as the Inspector certifies to the corporation that the consents delivered to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation in accordance with this Section 3.10 represent at least the minimum</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">number of votes that would be necessary to take the Corporate Action by written</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consent.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Procedures for Counting and Challenging Consents. All consents and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">revocations shall be delivered to the Inspector upon receipt by the corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or its other designated agents. When such consents and revocations are received,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the Inspector shall review the consents and revocations and shall maintain a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">count of the number of valid and unrevoked consents. As soon as practicable</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[9]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">after the end of the sixty (60) day period provided for in paragraph (c), the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Inspector shall issue a preliminary report to the corporation and the Soliciting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Party stating:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of valid and unrevoked consents;</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of valid revocations;</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of invalid consents;</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of invalid revocations; and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on a preliminary count, whether the requisite</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;number of valid and unrevoked consents has been</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;obtained to authorize or take the Corporate Action</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;specified in the consents.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless the corporation and the Soliciting Party shall agree to a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shorter or longer period, the corporation and the Soliciting Party shall each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">have forty-eight (48) hours to review the consents and revocations and to advise</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the Inspector and the other party in writing whether they will challenge any of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the determinations set forth in the Inspector's preliminary report. Any such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">written notice must describe with specificity the particular determinations set</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">forth in the preliminary report that are being challenged. Both the corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and the Soliciting Party may challenge any aspect of any of the consents or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">revocations. If no written notice of a challenge to the preliminary report is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">received by the Inspector within forty-eight (48) hours after the issuance of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the preliminary report, the preliminary report of the Inspector shall become its</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">final report.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the corporation or the Soliciting Party or both deliver timely</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">written notice of a challenge to the preliminary report, the Inspector shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">hold a meeting as promptly as possible to allow the challenging party or parties</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to present its or their challenges to any consents and/or revocations. The</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Inspector shall adopt such reasonable procedures to be used at such meeting as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">it deems necessary in its sole discretion. Representatives and counsel of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation and the Soliciting Party may be present at such meeting. In such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting each challenging party (if there are two) and its counsel will be given</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">an opportunity to present documentation to support its position. The other party</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">will be given an opportunity to respond to a challenging party's presentation if</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">it so desires. A transcript of the meeting shall be recorded by a certified</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">court reporter and will be available for inspection by all parties. Following</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">completion of this meeting and a review of its results, the Inspector shall as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">promptly as possible issue its final report to the corporation and the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Soliciting Party containing its final determinations plus any changes in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">preliminary totals as a result of any challenges and a certification of whether</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the requisite number of valid and unrevoked consents was obtained to authorize</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or take the Corporate Action specified in the consents. Nothing contained in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">this paragraph shall in any way be construed to suggest or imply that the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation or any shareholder shall not be entitled to contest the validity of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any consent or revocation thereof or to take any other action (including,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">without limitation, the commencement, prosecution or defense of any litigation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with respect thereto).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of determining the identity of the party which is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">soliciting written consents, and to ensure that the limitations contained in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">this Section are complied with, &quot;Soliciting Party&quot; shall include (x) any person</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">who directly or indirectly is the beneficial owner (within the meaning of Rule</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">13d-3 promulgated under the Securities Exchange Act of 1934, as amended (the &quot;Exchange </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act&quot;)) of shares of common stock of the corporation and who delivers a Solicitation </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Notice to the corporation or on whose behalf a Solicitation Notice is delivered to the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation by the record holder of such shares, (y) any corporation, partnership or </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">other business entity which such person and/or his affiliates control (as both terms are </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">defined in Rule 12b-2 promulgated under the Exchange Act), and (z) any group (within the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meaning of Section 13(d)(3) of the Exchange Act) of which such person is a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">member.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[10]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Notice of Result. Notice of any Corporate Action taken without a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting shall be given to those shareholders who have not consented in writing</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to such Corporate Action or who were not entitled to vote on the Corporate</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Action within five (5) business days after the date on which such Corporate</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Action becomes effective.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 3.11. Frequency of Solicitations for Action by Shareholders Without a Meeting. </P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any other provision of these bylaws or Florida law, a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Soliciting Party may only solicit (as such term is defined for purposes of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 14(a) of the Exchange Act and the regulations thereunder) written</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consents from shareholders for any Corporate Action one (1) time during each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fiscal year of the corporation. The corporation shall not (a) provide a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder list or any other shareholder information to a Soliciting Party, (b)</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">set a record date pursuant to a Solicitation Notice (and no record date shall be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">set in accordance with the next to last sentence of Section 3.10(2) of these</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">bylaws), or (c) have any obligation to mail any materials for or on behalf of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such Soliciting Party for any consent solicitation made by such Soliciting Party</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">which has already solicited written consents regarding the same or substantially</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">similar Corporate Action(s) (as determined by the Board of Directors in its</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">reasonable discretion) within the corporation's then-current fiscal year;</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provided, however, that a Soliciting Party may solicit written consents twice in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such fiscal year if the corporation has not conducted an annual meeting of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders within sixteen (16) months prior to the date that the Soliciting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Party delivers its Solicitation Notice for the second consent solicitation. For</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purposes of this Section 3.11, all parties contained in the definition of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&quot;Soliciting Party&quot; in Section 3.10(5) of these bylaws shall be considered to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the same Soliciting Party for purposes of determining whether a consent</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">solicitation can be made during the fiscal year.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE IV</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Directors and Officers</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.01. Qualifications of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Directors must be natural persons who are 18 years of age or older but</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">need not be residents of the State of Florida or shareholders of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.02. Number of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors shall consist of not less than three (3) nor</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">more than eleven (11) individuals.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The number of directors may be increased or decreased from time to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">time by amendment to these bylaws by a majority of the directors or by a vote of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">sixty-seven percent (67%) of the shares entitled to vote. If the terms of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors are staggered under Section 4.04 of these bylaws, any increase or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">decrease in the number of directors shall be allocated proportionately among the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">classes. Any decrease in the number of directors shall not prematurely shorten</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the term of any incumbent director.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Directors are elected at the first annual shareholders&#146; meeting and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">at each annual meeting thereafter unless their terms are staggered under Section</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">4.04 of these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.03. Terms of Directors Generally.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The terms of the initial directors of the corporation expire at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">first shareholders' meeting at which directors are elected.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[11]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The terms of all other directors expire at the next annual</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders' meeting following their election unless their terms are staggered</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">under Section 4.04 of these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A decrease in the number of directors does not shorten an incumbent</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director's term.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The term of a director elected to fill a vacancy expires at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">next shareholders' meeting at which directors are elected.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Despite the expiration of a director's term, the director shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">continue to serve until that director's successor is elected and qualified or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">until there is a decrease in the number of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.04. Staggered Terms for Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The directors of the corporation may, by the articles of incorporation,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or by amendment to these bylaws adopted by a vote of the directors, be divided</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">into one, two or three classes with the number of directors in each class being</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as nearly equal as possible; the term of office of those of the first class to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">expire at the annual meeting next ensuing; of the second class one year</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">thereafter; at the third class two years thereafter; and at each annual election</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">held after such classification and election, directors shall be chosen for a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">full term, as the case may be, to succeed those whose terms expire. If the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors have staggered terms, then any increase or decrease in the number of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors shall be so apportioned among the classes as to make all classes as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">nearly equal in number as possible.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.05. Vacancy on Board.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Whenever a vacancy occurs on a board of directors, including a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">vacancy resulting from an increase in the number of directors, it may be filled</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by the affirmative vote of a majority of the remaining directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A vacancy that will occur at a specific later date (by reason of a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">resignation effective at a later date) may be filled before the vacancy occurs</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">but the new director may not take office until the vacancy occurs.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A director chosen as a result of this Section 4.06 or Section 4.02</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall hold such office until the next election of the class for which such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director has been chosen and until their successors shall be elected and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">qualified.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.06. Compensation of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors may fix the compensation of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.07. Meetings.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors may hold regular or special meetings in or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">out of the State of Florida.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A majority of the directors present, whether or not a quorum</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">exists, may adjourn any meeting of the board of directors to another time and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">place. Notice of any such adjourned meeting shall be given to the directors who</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">were not present at the time of the adjournment and, unless the time and place</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the adjourned meeting are announced at the time of the adjournment, to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">other directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Meetings of the board of directors may be called by the chairman of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the board or by the president.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[12]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The board of directors may permit any or all directors to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">participate in a regular or special meeting by, or conduct the meeting through</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the use of, any means of communication by which all directors participating may</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">simultaneously hear each other during the meeting. A director participating in a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting by this means is deemed to be present in person at the meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.08. Action by Directors Without a Meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Action required or permitted by the Act to be taken at a board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors' meeting or committee meeting may be taken without a meeting if the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">action is taken by all members of the board or of the committee. The action must be </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">evidenced by one or more written consents describing the action taken and signed by each </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director or committee member.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Action taken under this section is effective when the last director</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">signs the consent, unless the consent specifies a different effective date.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A consent signed under this section has the effect of a meeting</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">vote and may be described as such in any document.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.9. Notice of Meetings.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regular and special meetings of the board of directors may be held</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">without notice of the date, time, place, or purpose of the meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.10. Waiver of Notice.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice of a meeting of the board of directors need not be given to any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director who signs a waiver of notice either before or after the meeting.</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Attendance of a director at a meeting shall constitute a waiver of notice of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such meeting and a waiver of any and all objections to the place of the meeting,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the time of the meeting, or the manner in which it has been called or convened,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">except when a director states, at the beginning of the meeting or promptly upon</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">arrival at the meeting, any objection to the transaction of business because the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting is not lawfully called or convened.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.11. Quorum and Voting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A quorum of a board of directors consists of a majority of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">number of directors prescribed by the articles of incorporation or these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If a quorum is present when a vote is taken, the affirmative vote</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of a majority of directors present is the act of the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A director of the corporation who is present at a meeting of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">board of directors or a committee of the board of directors when corporate</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">action is taken is deemed to have assented to the action taken unless:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) He objects at the beginning of the meeting (or promptly</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">upon his arrival) to holding it or transacting specified business at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) He votes against or abstains from the action taken.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.12. Powers of the Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In furtherance, and not in limitation of the powers conferred to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Directors by statute, the Board of directors is expressly authorized as follows:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To make and alter the Bylaws of this corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[13]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) To authorize and to cause to be executed mortgages and liens upon</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the real and personal property of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To set apart out of any of the funds of the corporation available</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for dividends a reserve or reserves for any proper purpose, or to abolish any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such reserve in the manner in which it was created.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) From time to time to determine whether and to what extent, at what</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">time and place, and under what conditions and regulations the accounts and books</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of this corporation, or any of them, shall be open to inspection of any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">stockholder; and no stockholder shall have any right to inspect any account,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">book, or document of this corporation except as conferred by statute or by the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">bylaws or as authorized by a resolution of the stockholders or board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.13. Committees.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors, by resolution adopted by a majority of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">full board of directors, may designate from among its members an executive</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">committee and one or more other committees each of which, to the extent provided</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in such resolution and by these bylaws, shall have and may exercise all the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">authority of the board of directors, except that no such committee shall have</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the authority to:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Approve or recommend to shareholders actions or proposals</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">required by the Act to be approved by shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Fill vacancies on the board of directors or any committee</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">thereof.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Adopt, amend, or repeal these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Authorize or approve the reacquisition of shares unless</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">pursuant to a general formula or method specified by the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Authorize or approve the issuance or sale or contract for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the sale of shares, or determine the designation and relative rights,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">preferences, and limitations of a voting group except that the board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors may authorize a committee (or a senior executive officer of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation) to do so within limits specifically prescribed by the board of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The sections of these bylaws which govern meetings, notice and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">waiver of notice, and quorum and voting requirements of the board of directors</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">apply to committees and their members as well.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Each committee must have two or more members who serve at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">pleasure of the board of directors. The board, by resolution adopted in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">accordance herewith, may designate one or more directors as alternate members of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any such committee who may act in the place and stead of any absent member or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">members at any meeting of such committee.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Neither the designation of any such committee, the delegation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">thereto of authority, nor action by such committee pursuant to such authority</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall alone constitute compliance by any member of the board of directors not a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">member of the committee in question with his responsibility to act in good</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">faith, in a manner he reasonably believes to be in the best interests of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation, and with such care as an ordinarily prudent person in a like</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">position would use under similar circumstances.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[14]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.14. Loans to Officers. Directors, and Employees; Guaranty of</P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Obligations.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The corporation may lend money to, guaranty any obligation of, or</P>
<P style="margin:0px; font-family:Courier New">otherwise assist any officer, director, or employee of the corporation or of a</P>
<P style="margin:0px; font-family:Courier New">subsidiary, whenever, in the judgment of the board of directors, such loan,</P>
<P style="margin:0px; font-family:Courier New">guaranty, or assistance may reasonably be expected to benefit the corporation.</P>
<P style="margin:0px; font-family:Courier New">The loan, guaranty, or other assistance may be with or without interest and may</P>
<P style="margin:0px; font-family:Courier New">be unsecured or secured in such manner as the board of directors shall approve,</P>
<P style="margin:0px; font-family:Courier New">including, without limitation, a pledge of shares of stock of the corporation.</P>
<P style="margin:0px; font-family:Courier New">Nothing in this section shall be deemed to deny, limit, or restrict the powers</P>
<P style="margin:0px; font-family:Courier New">of guaranty or warranty of any corporation at common law or under any statute.</P>
<P style="margin:0px; font-family:Courier New">Loans, guaranties, or other types of assistance are subject to section 4.20.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.15. Required Officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall have such officers as the board of directors</P>
<P style="margin:0px; font-family:Courier New">may appoint from time</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A duly appointed officer may appoint one or more assistant</P>
<P style="margin:0px; font-family:Courier New">officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The board of directors shall delegate to one of the officers</P>
<P style="margin:0px; font-family:Courier New">responsibility for preparing minutes of the directors' and shareholders'</P>
<P style="margin:0px; font-family:Courier New">meetings and for authenticating records of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The same individual may simultaneously hold more than one office in</P>
<P style="margin:0px; font-family:Courier New">the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.16. Duties of Officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each officer has the authority and shall perform the duties set forth</P>
<P style="margin:0px; font-family:Courier New">in a resolution or resolutions of the board of directors or by direction of any</P>
<P style="margin:0px; font-family:Courier New">officer authorized by the board of directors to prescribe the duties of other</P>
<P style="margin:0px; font-family:Courier New">officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.17. Resignation and Removal of Officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) An officer may resign at any time by delivering notice to the</P>
<P style="margin:0px; font-family:Courier New">corporation. A resignation is effective when the notice is delivered unless the</P>
<P style="margin:0px; font-family:Courier New">notice specifies a later effective date. If a resignation is made effective at a</P>
<P style="margin:0px; font-family:Courier New">later date and the corporation accepts the future effective date, the board of</P>
<P style="margin:0px; font-family:Courier New">directors may fill the pending vacancy before the effective date if the board of</P>
<P style="margin:0px; font-family:Courier New">directors provides that the successor does not take office until the effective</P>
<P style="margin:0px; font-family:Courier New">date.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The board of directors may remove any officer at any time with or</P>
<P style="margin:0px; font-family:Courier New">without cause. Any assistant officer, if appointed by another officer, may</P>
<P style="margin:0px; font-family:Courier New">likewise be removed by the board of directors or by the officer which appointed</P>
<P style="margin:0px; font-family:Courier New">him in accordance with these bylaws.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.18. Contract Rights of Officers.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The appointment of an officer does not itself create contract rights.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 4.19. General Standards for Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A director shall discharge his duties as a director, including his</P>
<P style="margin:0px; font-family:Courier New">duties as a member of a committee:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[15]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In good faith;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With the care an ordinarily prudent person in a like</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">position would exercise under similar circumstances; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In a manner he reasonably believes to be in the best</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interests of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) In discharging his duties, a director is entitled to rely on</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">information, opinions, reports or statements, including financial statements and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">other financial data, if prepared or presented by:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) One or more officers or employees of the corporation whom</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the director reasonably believes to be reliable and competent in the matters</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">presented;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Legal counsel, public accountants, or other persons as to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">matters the director reasonably believes are within the persons' professional or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">expert competence; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A committee of the board of directors of which he is not a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">member if the director reasonably believes the committee</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) In discharging his duties, a director may consider such factors as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the director deems relevant, including the long-term prospects and interests of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation and its shareholders, and the social, economic, legal, or other</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">effects of any action on the employees, suppliers, customers of the corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or its subsidiaries, the communities and society in which the corporation or its</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">subsidiaries operate, and the economy of the state and the nation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) A director is not acting in good faith if he has knowledge</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">concerning the matter in question that makes reliance otherwise permitted by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">subsection (2) unwarranted.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) A director is not liable for any action taken as a director, or any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">failure to take any action, if he performed the duties of his office in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">compliance with this section.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.20. Director Conflicts of Interest.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No contract or other transaction between a corporation and one or more</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interested directors shall be either void or voidable because of such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">relationship or interest, because such director or directors are present at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting of the board of directors or a committee thereof which authorizes,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">approves or ratifies such contract or transaction, or because his or their votes</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">are counted for such purpose, if:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The fact of such relationship or interest is disclosed or known to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the board of directors or committee which authorizes, approves or ratifies the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">contract or transactions by a vote or consent sufficient for the purpose without</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">counting the votes or consents of such interested directors;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The fact of such relationship or interest is disclosed or known to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shareholders entitled to vote and they authorize, approve or ratify such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">contract or transaction by vote or written consent; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The contract or transaction is fair and reasonable as to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation at the time it is authorized by the board, a committee or the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common or interested directors may be counted in determining the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">presence of a quorum at the meeting of the board of directors or a committee</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[16]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">thereof which authorizes, approves or ratifies such contract or transaction.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the purpose of paragraph (2) above, a conflict of interest</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">transaction is authorized, approved or ratified if it receives the vote of a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">majority of the shares entitled to be counted under this subsection. Shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">owned by or voted under the control of a director who has a relationship or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interest in the conflict of interest transaction may not be counted in a vote of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders to determine whether to authorize, approve or ratify a conflict of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interest transaction under paragraph (2). The vote of those shares, however, is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">counted in determining whether the transaction is approved under other sections</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the Act. A majority of the shares, whether or not present, that are entitled to be </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">counted in a vote on the transaction under this subsection constitutes a quorum for the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purpose of taking action under this section.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 4.21. Resignation of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A director may resign at any time by delivering written notice to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">board of directors or its chairman or to the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless otherwise specified therein, a resignation is effective when the notice </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is delivered. If a resignation is made effective at a later date, the board of directors </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">may fill the pending vacancy before the effective date if the board of directors provides </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that the successor does not take office until the effective date.</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:122.133px; font-family:Courier New,Times New Roman; float:left">Section 4.22.</P>
<P style="margin:0px; text-indent:-2px; font-family:Courier New,Times New Roman">Failed Director Election. </P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; text-indent:61.067px; font-family:Courier New,Times New Roman">Any director who fails to receive the requisite number of votes for reelection </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall be required to promptly tender his or her resignation to the Board. The Corporate </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Governance and Nominating Committee of the Board shall make a recommendation to the Board </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">on whether to accept or reject the offer of resignation, or whether other action should </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be taken. In reaching its decision, the Board will consider the Corporate Governance and </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Nominating Committee's recommendation and may consider any other factors it deems </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">relevant, which may include the director's qualifications, the director's past and </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">expected future contributions to the corporation, the overall composition of the Board </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and committees of the Board, whether accepting the tendered resignation would cause the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation to fail to meet any applicable rule or regulation (including the NASDAQ </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">listing standards and the requirements of the federal securities laws) and the percentage </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of outstanding shares represented by the votes cast at the meeting. The director who </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">tenders his or her offer of resignation shall not participate in the Corporate Governance </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and Nominating Committee's recommendation or the Board's decision. The Board will act on </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the resignation within ninety (90) days following certification of the shareholder vote </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for the meeting and will promptly disclose its decision and rationale as to whether to </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">accept the resignation (or the reasons for rejecting the resignation, if applicable) in a </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">filing with the Securities and Exchange Commission or by other public announcement.</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; font-family:Courier New,Times New Roman" align=center><B>ARTICLE V</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indemnification of Directors, Officers,</B></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees and Agents</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 5.01. Directors. Officers. Employees and Agents.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall indemnify any director or executive officer</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">who was or is a party to any proceeding (other than an action by, or in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">right of, the corporation), by reason of the fact that he is or was a director</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or executive officer of the corporation against liability incurred in connection</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with such proceeding, including any appeal thereof, if he acted in good faith</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and in a manner he reasonably believed to be in, or not opposed to, the best</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interests of the corporation, and, with respect to any criminal action or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding, had no reasonable cause to believe his conduct was unlawful. The</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">termination of any proceeding by judgment, order, settlement, or conviction or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">upon a plea of nolo contendere or its equivalent shall not, of itself, create a</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[17]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">presumption that the director or executive officer did not act in good faith and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in a manner which he reasonably believed to be in, or not opposed to, the best</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interests of the corporation or, with respect to any criminal action or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding, had reasonable cause to believe that his conduct was unlawful.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The corporation shall have power to indemnify any person who was or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is a party to any proceeding (other than an action by, or in the right of, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation), by reason of the fact that he is or was an employee or agent of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation or is or was serving at the request of the corporation as a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director, officer, employee, or agent of another corporation, partnership, joint</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">venture, trust, or other enterprise against liability incurred in connection</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with such proceeding, including any appeal thereof, if he acted in good faith</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and in a manner he reasonably believed to be in, or not opposed to, the best</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interests of the corporation, and, with respect to any criminal action or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding, had no reasonable cause to believe his conduct was unlawful. The</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">termination of any proceeding by judgment, order, settlement, or conviction or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">upon a plea of nolo contendere or its equivalent shall not, of itself, create a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">presumption that the person did not act in good faith and in a manner which he</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">reasonably believed to be in, or not opposed to, the best interests of the corporation </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or, with respect to any criminal action or proceeding, had reasonable cause to believe </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that his conduct was unlawful.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The corporation shall indemnify any person, who was or is a party</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to any proceeding by or in the right of the corporation to procure a judgment in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">its favor by reason of the fact that he is or was a director or executive</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">officer of the corporation, against expenses and amounts paid in settlement not</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">exceeding, in the judgment of the board of directors, the estimated expense of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">litigating the proceeding to conclusion, actually and reasonably incurred in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">connection with the defense or settlement of such proceeding, including any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">appeal thereof. Such indemnification shall be authorized if such director or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">executive officer acted in good faith and in a manner he reasonably believed to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be in, or not opposed to, the best interests of the corporation, except that no</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification shall be made under this subsection in respect of any claim,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">issue, or matter as to which such director or executive officer shall have been</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">adjudged to be liable unless, and only to the extent that, the court in which</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such proceeding was brought, or any other court of competent jurisdiction, shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determine upon application that, despite the adjudication of liability but in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">view of all circumstances of the case, such director or executive officer is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fairly and reasonably entitled to indemnity for such expenses which such court</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall deem proper.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The corporation shall have power to indemnify any person, who was</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or is a party to any proceeding by or in the right of the corporation to procure</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">a judgment in its favor by reason of the fact that he is or was an employee or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">agent of the corporation or is or was serving at the request of the corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as a director, officer, employee, or agent of another corporation, partnership,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">joint venture, trust, or other enterprise, against expenses and amounts paid in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">settlement not exceeding, in the judgment of the board of directors, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">estimated expense of litigating the proceeding to conclusion, actually and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">reasonably incurred in connection with the defense or settlement of such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding, including any appeal thereof. Such indemnification shall be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">authorized if such person acted in good faith and in a manner he reasonably</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">believed to be in, or not opposed to, the best interests of the corporation,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">except that no indemnification shall be made under this subsection in respect of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any claim, issue, or matter as to which such person shall have been adjudged to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be liable unless, and only to the extent that, the court in which such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding was brought, or any other court of competent jurisdiction, shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determine upon application that, despite the adjudication of liability but in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">view of all circumstances of the case, such person is fairly and reasonably</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitled to indemnity for such expenses which such court shall deem proper.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) To the extent that a director, officer, employee, or agent of the</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[18]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">corporation has been successful on the merits or otherwise in defense of any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding referred to in subsections (1) or (2), or in defense of any claim,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">issue, or matter therein, he shall be indemnified against expenses actually and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">reasonably incurred by him in connection therewith.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Any indemnification under subsections (1), (2), (3) and (4) unless</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">pursuant to a determination by a court, shall be made by the corporation only as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">authorized in the specific case upon a determination that indemnification of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director, officer, employee, or agent is proper in the circumstances because he</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">has met the applicable standard of conduct set forth in subsections (1) or (2),</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">(3) and (4). Such determination shall be made:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) By the board of directors by a majority vote of a quorum</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consisting of directors who were not parties to such proceeding;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If such a quorum is not obtainable or, even if obtainable,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by majority vote of a committee duly designated by the board of directors (in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">which directors who are parties may participate) consisting solely of two or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">more directors not at the time parties to the proceeding;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) By independent legal counsel:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Selected by the board of directors prescribed in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">paragraph (a) or the committee prescribed in paragraph (b); or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If a quorum of the directors cannot be obtained</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for paragraph (a) and the committee cannot be designed under paragraph (b),</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">selected by majority vote of the full board of directors (in which directors who</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">are parties may participate); or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) By the shareholders by a majority vote of a quorum</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consisting of shareholders who were not parties to such proceeding or, if no</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such quorum is obtainable, by a majority vote of shareholders who were not</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">parties to such proceeding.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Evaluation of the reasonableness of expenses and authorization of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification shall be made in the same manner as the determination that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification is permissible. However, if the determination of permissibility</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is made by independent legal counsel, persons specified by paragraph (6)(c)</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shall evaluate the reasonableness of expenses and may authorize indemnification.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Expenses incurred by an officer or director in defending a civil or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">criminal proceeding may be paid by the corporation in advance of the final</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">disposition of such proceeding upon receipt of an undertaking by or on behalf of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such director or officer to repay such amount if he is ultimately found not to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be entitled to indemnification by the corporation pursuant to this section.</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Expenses incurred by other employees and agents may be paid in advance upon such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">terms or conditions that the board of directors deems appropriate.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) The indemnification and advancement of expenses provided pursuant</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to this section are not exclusive, and the corporation may make any other or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">further indemnification or advancement of expenses of any of its directors,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">officers, employees, or agents, under any bylaw, agreement, vote of shareholders</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or disinterested directors, or otherwise, both as to action in his official capacity and </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as to action in another capacity while holding such office. However, indemnification or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">advancement of expenses shall not be made to or on behalf of any director,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">officer, employee, or agent if a judgment or other final adjudication</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">establishes that his actions, or omissions to act, were material to the cause of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">action so adjudicated and constitute:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A violation of the criminal law, unless the director,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">officer, employee, or agent had reasonable cause to believe his conduct was</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[19]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">lawful or had no reasonable cause to believe his conduct was unlawful;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A transaction from which the director, officer, employee,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or agent derived an improper personal benefit;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the case of a director, a circumstance under which the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">liability provisions of Section 607.0834 under the Act are applicable; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Willful misconduct or a conscious disregard for the best</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">interests of the corporation in a proceeding by or in the right of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation to procure a judgment in its favor or in a proceeding by or in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">right of a shareholder.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Indemnification and advancement of expenses as provided in this</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">section shall continue as, unless otherwise provided when authorized or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">ratified, to a person who has ceased to be a director, officer, employee, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">agent and shall inure to the benefit of the heirs, executors, and administrators</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of such a person, unless otherwise provided when authorized or ratified.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) Notwithstanding the failure of the corporation to provide</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification, and despite any contrary determination of the board or of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders in the specific case, a director, officer, employee, or agent of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation who is or was a party to a proceeding may apply for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification or advancement of expenses, or both, to the court conducting the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">proceeding, to the circuit court, or to another court of competent jurisdiction.</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">On receipt of an application, the court, after giving any notice that it</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">considers necessary, may order indemnification and advancement of expenses,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">including expenses incurred in seeking court-ordered indemnification or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">advancement of expenses, if it determines that:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The director, officer, employee, or agent is entitled to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">mandatory indemnification under subsection (5), in which case the court shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">also order the corporation to pay that person reasonable expenses incurred in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">obtaining court-ordered indemnification or advancement of expenses;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The director, officer, employee, or agent is entitled to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnification or advancement of expenses, or both, by virtue of the exercise</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by the corporation of its power pursuant to subsection (9); or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The director, officer, employee, or agent is fairly and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">reasonably entitled to indemnification or advancement of expenses, or both, in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">view of all the relevant circumstances, regardless of whether such person met</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the standard of conduct set forth in subsection (1), subsection (2), subsection</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">(3), subsection (4) or subsection (9).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) For purposes of this section, the term &quot;corporation~ includes, in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">addition to the resulting corporation, any constituent corporation (including</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any constituent of a constituent) absorbed in a consolidation or merger, so that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any person who is or was a director, officer, employee, or agent of a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">constituent corporation, or is or was serving at the request of a constituent</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation as a director, officer, employee, or agent of another corporation,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">partnership, joint venture, trust or other enterprise, is in the same position</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">under this section with respect to the resulting or surviving corporation as he</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">would have with respect to such constituent corporation if its separate</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">existence had continued.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) For purposes of this section:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The term &quot;other enterprises&quot; includes employee benefit</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">plans;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The term &quot;expenses&quot; includes counsel fees, including those</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[20]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">for appeal;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The term &quot;liability&quot; includes obligations to pay a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">judgment, settlement, penalty, fine (including an excise tax assessed with</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">respect to any employee benefit plan), and expenses actually and reasonably</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incurred with respect to a proceeding;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The term &quot;proceeding&quot; includes any threatened, pending, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">completed action, suit or other type of proceeding, whether civil, criminal,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">administrative, or investigative and whether formal or informal;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The term &quot;agent&quot; includes a volunteer;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The term &quot;serving at the request of the corporation~</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">includes any service as a director, officer, employee, or agent of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation that imposes duties on such persons, including duties relating to an</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">employee benefit plan and its participants or beneficiaries; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The term &quot;not opposed to the best interest of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Corporation&#148; describes the actions of a person who acts in good faith and in a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">manner he reasonably believes to be in the best interests of the participants</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and beneficiaries of an employee benefit plan.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) The corporation shall have power to purchase and maintain</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">insurance on behalf of any person who is or was a director, officer, employee,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or agent of the corporation or is or was serving at the request of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation as a director, officer, employee, or agent of another corporation,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">partnership, joint venture, trust, or other enterprise against any liability</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">asserted against him and incurred by him in any such capacity or arising out</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of his status as such, whether or not the corporation would have the power to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">indemnify him against such liability under the provisions of this section.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE VI</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Office and Agent</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 6.01. Registered Office and Registered Agent.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall have and continuously maintain in the State</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of Florida:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A registered office which may be the same as its place of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">business; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A registered agent, who, may be either:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) An individual who resides in the State of Florida</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whose business office is identical with such registered office; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Another corporation or not-for-profit corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as defined in Chapter 617 of the Act, authorized to transact business or conduct</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">its affairs in the State of Florida, having a business office identical with the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">registered office; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A foreign corporation or not-for-profit foreign</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation authorized pursuant to chapter 607 or chapter 617 of the Act to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">transact business or conduct its affairs in the State of Florida, having a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">business office identical with the registered office.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 6.02. Change of Registered Office or Registered Agent: Resignation of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registered Agent.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[21]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation may change its registered office or its registered</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">agent upon filing with the Department of State of the State of Florida a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">statement of change setting forth:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The name of the corporation;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The street address of its current registered office;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the current registered office is to be changed, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">street address of the new registered office;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The name of its current registered agent;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If its current registered agent is to be changed, the name</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the new registered agent and the new agent's written consent (either on the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">statement or attached to it) to the appointment;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) That the street address of its registered office and the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">street address of the business office of its registered agent, as changed, will</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be identical;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) That such change was authorized by resolution duly adopted</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">by its board of directors or by an officer of the corporation so authorized by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE VII</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares, Options, Dividends and Distributions</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.01. Authorized Shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The articles of incorporation prescribe the classes of shares and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the number of shares of each class that the corporation is authorized to issue,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">as well as a distinguishing designation for each class, and prior to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">issuance of shares of a class the preferences, limitations, and relative rights</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of that class must be described in the articles of incorporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The articles of incorporation must authorize:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) One or more classes of shares that together have unlimited</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">voting rights, and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) One or more classes of shares (which may be the same class</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or classes as those with voting rights) that together are entitled to receive</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the net assets of the corporation upon dissolution.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The articles of incorporation may authorize one or more classes of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares that have special, conditional, or limited voting rights, or no rights,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or no right to vote, except to the extent prohibited by the Act;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Are redeemable or convertible as specified in the articles</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of incorporation;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Entitle the holders to distributions calculated in any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">manner, including dividends that may be cumulative, noncumulative, or partially</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">cumulative;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Have preference over any other class of shares with</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">respect to distributions, including dividends and distributions upon the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">dissolution of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Shares which are entitled to preference in the distribution of</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[22]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">dividends or assets shall not be designated as common shares. Shares which are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">not entitled to preference in the distribution of dividends or assets shall be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">common shares and shall not be designated as preferred shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.02. Terms of Class or Series Determined by Board of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the articles of incorporation so provide, the board of directors</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">may determine, in whole or part, the preferences, limitations, and relative</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">rights (within the limits set forth in Section 7.01) of:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any class of shares before the issuance of any shares of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that class, or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) One or more series within a class before the issuance of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">any shares of that series.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Each series of a class must be given a distinguishing designation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) All shares of a series must have preferences, limitations, and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">relative rights identical with those of other shares of the same series and,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">except to the extent otherwise provided in the description of the series, of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">those of other series of the same class.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Before issuing any shares of a class or series created under this</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">section, the corporation must deliver to the Department of State of the State of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Florida for filing articles of amendment, which are effective without</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder action, in accordance with Section 607.0602 of the Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.03. Issued and Outstanding Shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A corporation may issue the number of shares of each class or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">series authorized by the articles of incorporation. Shares that are issued are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">outstanding shares until they are reacquired, redeemed, converted, or canceled.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The reacquisition, redemption, or conversion of outstanding shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is subject to the limitations of subsection (3) and to Section 607.06401 of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) At all times that shares of the corporation are outstanding, one or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">more shares that together have unlimited voting rights and one or more shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that together are entitled to receive the net assets of the corporation upon</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">dissolution must be outstanding.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.04. Issuance of Shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors may authorize shares to be issued for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consideration consisting of any tangible or intangible property or benefit to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation, including cash, promissory notes, services performed, promises to </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">perform services evidenced by a written contract, or other securities of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Before the corporation issues shares, the board of directors must</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determine that the consideration received or to be received for shares to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">issued is adequate. That determination by the board of directors is conclusive</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">insofar as the adequacy of consideration for the issuance of shares relates to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whether the shares are validly issued, fully paid, and non-assessable. When it</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">cannot be determined that outstanding shares are fully paid and non-assessable,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">there shall be a conclusive presumption that such shares are fully paid and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">non-assessable if the board of directors makes a good faith determination that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">there is no substantial evidence that the full consideration for such shares has</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">not been paid.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) When the corporation receives the consideration for which the board</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[23]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">of directors authorized the issuance of shares, the shares issued therefor are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">fully paid and non-assessable. Consideration in the form of a promise to pay</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">money or a promise to perform services is received by the corporation at the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">time of the making of the promise, unless the agreement specifically provides</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">otherwise.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The corporation may place in escrow shares issued for a contract</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for future services or benefits or a promissory note, or make other arrangements</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to restrict the transfer of the shares, and may credit distributions in respect</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the shares against their purchase price, until the services are performed,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the note is paid, or the benefits received. If the services are not performed,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shares escrowed or restricted and the distributions credited may be canceled</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in whole or part.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.05. Form and Content of Certificates.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Shares may but need not be represented by certificates. Unless the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act or another statute expressly provides otherwise, the rights and obligations</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of shareholders are identical whether or not their shares are represented by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificates.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) At a minimum, each share certificate must state on its face:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The name of the issuing corporation and that the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation is organized under the laws of the State of Florida;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The name of the person to whom issued; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The number and class of shares and the designation of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">series, if any, the certificate represents.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If the shares being issued are of different classes of shares or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">different series within a class, the designations, relative rights, preferences,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and limitations applicable to each class and the variations in rights,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">preferences, and limitations determined for each series (and the authority of the board </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of directors to determine variations for future series) must be summarized on the front </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or back of each certificate. Alternatively, each certificate may state conspicuously on </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">its front or back that the corporation will furnish the shareholder a full statement of </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">this information on request and without charge.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Each share certificate:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Must be signed (either manually or in facsimile) by an</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">officer or officers designated by the board of directors, and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) May bear the corporate seal or its facsimile.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) If the person who signed (either manually or in facsimile) a share</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificate no longer holds office when the certificate is issued, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificate is nevertheless valid.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Nothing in this section may be construed to invalidate any share</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificate validly issued and outstanding under the Act on July 1, 1990.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.06. Shares Without Certificates.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors of the corporation may authorize the issue</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of some or all of the shares of any or all of its classes or series without</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificates. The authorization does not affect shares already represented by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">certificates until they are surrendered to the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Within a reasonable time after the issue or transfer of shares</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[24]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">without certificates, the corporation shall send the shareholder a written</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">statement of the information required on certificates by the Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.07. Restriction on Transfer of Shares and Other Securities.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The articles of incorporation, these bylaws, an agreement among</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders, or an agreement between shareholders and the corporation may</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">impose restrictions on the transfer or registration of transfer of shares of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation. A restriction does not affect shares issued before the restriction</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">was adopted unless the holders of such shares are parties to the restriction</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">agreement or voted in favor of the restriction.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A restriction on the transfer or registration of transfer of shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is valid and enforceable against the holder or a transferee of the holder if the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">restriction is authorized by this section, and effected in compliance with the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provisions of the Act, including having a proper purpose as referred to in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.08. Shareholder's Pre-emptive Rights.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shareholders of the corporation do not have a pre-emptive right to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">acquire the corporation's unissued shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.09. Corporation's Acquisition of its Own Shares.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation may acquire its own shares, and, unless otherwise</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provided in the articles of incorporation or except as provided in subsection</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">(4), shares so acquired constitute authorized but unissued shares of the same</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">class but undesignated as to series.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the articles of incorporation prohibit the reissue of acquired</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares, the number of authorized shares is reduced by the number of shares</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">acquired, effective upon amendment of the articles of incorporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Articles of amendment may be adopted by the board of directors</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">without shareholder action, shall be delivered to the Department of State of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">State of Florida for filing, and shall set forth the information required by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 607.0631 of the Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Shares of the corporation in existence on June 30, 1990, which are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">treasury shares under Section 607.004(18), Florida Statutes (1987), shall be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">issued, but not outstanding, until canceled or disposed of by the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.10. Share Options.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unless the articles of incorporation provide otherwise, the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation may issue rights, options, or warrants for the purchase of shares of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation. The board of directors shall determine the terms upon which the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">rights, options, or warrants are issued, their form and content, and the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consideration for which the shares are to be issued.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The terms and conditions of stock rights and options which are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">created and issued by the corporation, or its successor, and which entitle the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">holders thereof to purchase from the corporation shares of any class or classes,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whether authorized by unissued shares, treasury shares, or shares to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purchased or acquired by the corporation, may include, without limitation,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">restrictions, or conditions that preclude or limit the exercise, transfer,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">receipt, or holding of such rights or options by any person or persons,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">including any person or persons owning or offering to acquire a specified number</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or percentage of the outstanding common shares or other securities of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation, or any transferee or transferees of any such person or persons, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">that invalidate or void such rights or options held by any such person or</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[25]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">persons or any such transferee or transferees.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.11. Terms and Conditions of Stock Rights and Options.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and conditions of the stock rights and options which are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">created and issued by the corporation [or its successor], and which entitle the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">holders thereof to purchase from the corporation shares of any class or classes,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">whether authorized but unissued shares, treasury shares, or shares to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purchased or acquired by the corporation, may include, without limitation, restrictions </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or conditions that preclude or limit the exercise, transfer, receipt or holding of such </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">rights or options by any person or persons, including any person or persons owning or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">offering to acquire a specified number or percentage of the outstanding common</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shares or other securities of the corporation, or any transferee or transferees</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of any such person or persons, or that invalidate or void such rights or options</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">held by any such person or persons or any such transferee or transferees.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.12. Share Dividends.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Shares may be issued pro rata and without consideration to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation's shareholders or to the shareholders of one or more classes or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">series. An issuance of shares under this subsection is a share dividend.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Shares of one class or series may not be issued as a share dividend</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">in respect of shares of another class or series unless:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The articles of incorporation so authorize,</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A majority of the votes entitled to be cast by the class</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or series to be issued approves the issue, or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There are no outstanding shares of the class or series to</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be issued.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) If the board of directors does not fix the record date for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determining shareholders entitled to a share dividend, it is the date of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">board of directors authorizes the share dividend.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 7.13. Distributions to Shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The board of directors may authorize and the corporation may make</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">distributions to its shareholders subject to restriction by the articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation and the limitations in subsection (3).</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the board of directors does not fix the record date for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">determining shareholders entitled to a distribution (other than one involving a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">purchase, redemption, or other acquisition of the corporation's shares), it is</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the date the board of directors authorizes the distribution.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) No distribution may be made if, after giving it effect:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The corporation would not be able to pay its debts as they</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">become due in the usual course of business; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The corporation's total assets would be less than the sum</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of its total liabilities plus (unless the articles of incorporation permit</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">otherwise) the amount that would be needed, if the corporation were to be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">dissolved at the time of the distribution, to satisfy the preferential rights</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">upon dissolution of shareholders whose preferential rights are superior to those</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">receiving the distribution.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The board of directors may base a determination that a distribution</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">is not prohibited under subsection (3) either on financial statements prepared</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[26]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">on the basis of accounting practices and principles that are reasonable in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">circumstances or on a fair valuation or other method that is reasonable in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">circumstances. In the case of any distribution based upon such a valuation, each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">such distribution shall be identified as a distribution based upon a current</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">valuation of assets, and the amount per share paid on the basis of such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">valuation shall be disclosed to the shareholders concurrent with their receipt</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the distribution.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Except as provided in subsection (7), the effect of a distribution</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">under subsection (3) is measured;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the case of distribution by purchase, redemption, or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">other acquisition of the corporation's shares, as of the earlier of:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The date money or other property is transferred or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">debt incurred by the corporation, or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The date the shareholder ceases to be a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder with respect to the acquired shares;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the case of any other distribution of indebtedness, as</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the date the indebtedness is distributed;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In all other cases, as of:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The date the distribution is authorized if the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">payment occurs within one hundred twenty (120) days after the date of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">authorization, or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The date the payment is made if it occurs more</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">than one hundred twenty (120) days after the date of authorization.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) A corporation's indebtedness to a shareholder incurred by reason of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">a distribution made in accordance with this section is at parity with the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">corporation's indebtedness to its general, unsecured creditors except to the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">extent subordinated by agreement.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Indebtedness of the corporation, including indebtedness issued as a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">distribution, is not considered a liability for purposes of determinations under</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">subsection(3) if its terms provide that payment of principal and interest are made only </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">if and to the extent that payment of a distribution to shareholders could then be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">made under this section. If the indebtedness is issued as a distribution, each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">payment of principal or interest is treated as a distribution, the effect of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">which is measured on the date the payment is actually made.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE VIII</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment of Articles and Bylaws</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 8.01. Authority to Amend the Articles of Incorporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation may amend its articles of incorporation at any time</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to add or change a provision that is required or permitted in the articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation or to delete a provision not required in the articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation. Whether a provision is required or permitted in the articles of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">incorporation is determined as of the effective date of the amendment.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A shareholder of the corporation does not have a vested property</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">right resulting from any provision in the articles of incorporation, including</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provisions relating to management, control, capital structure, dividend</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">entitlement, or purpose or duration of the corporation.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[27]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<HR style="margin-bottom:9.6px; padding-top:9.6px" noshade size=1.333>
<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.02. Amendment by Board of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The corporation's board of directors may adopt one or more amendments</P>
<P style="margin:0px; font-family:Courier New">to the corporation's articles of incorporation without shareholder action:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To extend the duration of the corporation if it was incorporated at</P>
<P style="margin:0px; font-family:Courier New">a time when limited duration was required by law;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) To delete the names and addresses of the initial directors;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To delete the name and address of the initial registered agent or</P>
<P style="margin:0px; font-family:Courier New">registered office, if a statement of change is on file with the Department of</P>
<P style="margin:0px; font-family:Courier New">State of the State of Florida;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) To delete any other information contained in the articles of</P>
<P style="margin:0px; font-family:Courier New">incorporation that is solely of historical interest;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) To change each issued and unissued authorized share of an</P>
<P style="margin:0px; font-family:Courier New">outstanding class into a greater number of whole shares if the corporation has</P>
<P style="margin:0px; font-family:Courier New">only shares of that class outstanding;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) To delete the authorization for a class or series of shares</P>
<P style="margin:0px; font-family:Courier New">authorized pursuant to Section 607.0602 of the Act, if no shares of such class</P>
<P style="margin:0px; font-family:Courier New">or series have been issued;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) To change the corporate name by substituting the word</P>
<P style="margin:0px; font-family:Courier New">&quot;corporation,&quot; &quot;incorporated,&quot; or &quot;company,&quot; or the abbreviation &quot;corp.,&quot;</P>
<P style="margin:0px; font-family:Courier New">&quot;Inc.,&quot; or &quot;Co.,&quot; for a similar word or abbreviation in the name, or by adding,</P>
<P style="margin:0px; font-family:Courier New">deleting, or changing a geographical attribution for the name; or</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) To make any other change expressly permitted by the Act to be made</P>
<P style="margin:0px; font-family:Courier New">without shareholder action.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.03. Amendment of Bylaws by Board of Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The corporation's board of directors may amend or repeal the</P>
<P style="margin:0px; font-family:Courier New">corporation's bylaws unless the Act reserves the power to amend a particular</P>
<P style="margin:0px; font-family:Courier New">bylaw provision exclusively to the shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">Section 8.04. Bylaw Increasing Quorum or Voting Requirements for Directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) A bylaw that fixes a greater quorum or voting requirement for the</P>
<P style="margin:0px; font-family:Courier New">board of directors may be amended or repealed:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If originally adopted by the shareholders, only by the</P>
<P style="margin:0px; font-family:Courier New">shareholders;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If originally adopted by the board of directors, either by</P>
<P style="margin:0px; font-family:Courier New">the shareholders or by the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A bylaw adopted or amended by the shareholders that fixes a greater</P>
<P style="margin:0px; font-family:Courier New">quorum or voting requirement for the board of directors may provide that it may</P>
<P style="margin:0px; font-family:Courier New">be amended or repealed only by a specified vote of either the shareholders or</P>
<P style="margin:0px; font-family:Courier New">the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Action by the board of directors under paragraph (l)(b) to adopt or</P>
<P style="margin:0px; font-family:Courier New">amend a bylaw that changes the quorum or voting requirement for the board of</P>
<P style="margin:0px; font-family:Courier New">directors must meet the same quorum requirement and be adopted by the same vote</P>
<P style="margin:0px; font-family:Courier New">required to take action under the quorum and voting requirement then in effect</P>
<P style="margin:0px; font-family:Courier New">or proposed to be adopted, whichever is greater.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[28]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; page-break-before:always"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE IX</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Records and Reports</B></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 9.01. Corporate Records.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall keep as permanent records minutes of all</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meetings of its shareholders and board of directors, a record of all actions</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">taken by the shareholders or board of directors without a meeting, and a record of all </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">actions taken by a committee of the board of directors in place of the board of directors </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">on behalf of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The corporation shall maintain accurate accounting records.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The corporation or its agent shall maintain a record of its</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders in a form that permits preparation of a list of the names and</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">addresses of all shareholders in alphabetical order by class of shares showing</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the number and series of shares held by each.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The corporation shall maintain its records in written form or in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">another form capable of conversion into written form within a reasonable time.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The corporation shall keep a copy of the following records:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Its articles or restated articles of incorporation and all</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">amendments to them currently in effect;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Its bylaws or restated bylaws and all amendments to them</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">currently in effect;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Resolutions adopted by the board of directors creating one</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">or more classes or series of shares and finding their relative rights,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">preferences, and limitations, if shares issued pursuant to those resolutions are</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">outstanding;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The minutes of all shareholders' meetings and records of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">all action taken by shareholders without a meeting for the past three years;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Written communications to all shareholders generally or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">all shareholders of a class or series within the past three years, including the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">financial statements furnished for the past three years;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) A list of the names and business street addresses of its</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">current directors and officers</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Its most recent annual report delivered to the Department</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of State of the State of Florida.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 9.02. Financial Statements for Shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Unless modified by resolution of the shareholders within 120 days</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of the close of each fiscal year, the corporation shall furnish its shareholders</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">annual financial statements which may be consolidated or combined statements of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation and one or more of its subsidiaries, as appropriate, that</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">include a balance sheet as of the end of the fiscal year, an income statement</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">for that year, and a statement of cash flows for that year. If financial statements are </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">prepared for the corporation on the basis of generally-accepted accounting principles, </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the annual financial statements must also be prepared on that basis.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the annual financial statements are reported upon by a public</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">accountant, his report must accompany them. If not, the statements must be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">accompanied by a statement of the president or the person responsible for the</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[29]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">corporation's accounting records:</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Stating his reasonable belief whether the statements were</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">prepared on the basis of generally-accepted accounting principles and, if not,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">describing the basis of preparation; and</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Describing any respects in which the statements were not</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">prepared on a basis of accounting consistent with the statements prepared for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the preceding year.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The corporation shall mail the annual financial statements to each</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholder within 120 days after the close of each fiscal year or within such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">additional time thereafter as is reasonably necessary to enable the corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">to prepare its financial statements, if for reasons beyond the corporation's</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">control, it is unable to prepare its financial statements within the prescribed</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">period. Thereafter, on written request from a shareholder who was not mailed the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">statements, the corporation shall mail him the latest annual financial</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">statements.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 9.03. Other Reports to Shareholders.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If the corporation indemnifies or advances expenses to any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director, officer, employee or agent otherwise than by court order or action by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the shareholders or by an insurance carrier pursuant to insurance maintained by</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the corporation, the corporation shall report the indemnification or advance in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">writing to the shareholders with or before the notice of the next shareholders'</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">meeting, or prior to such meeting if the indemnification or advance occurs after</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the giving of such notice but prior to the time such meeting is held, which</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">report shall include a statement specifying the persons paid, the amounts paid,</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and the nature and status at the time of such payment of the litigation or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">threatened litigation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) If the corporation issues or authorizes the issuance of shares for</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">promises to render services in the future, the corporation shall report in</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">writing to the shareholders the number of shares authorized or issued, and the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">consideration received by the corporation, with or before the notice of the next</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">shareholders' meeting.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 9.04. Annual Report for Department of State.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The corporation shall deliver to the Department of State of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">State of Florida for filing a sworn annual report on such forms as the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Department of State of the State of Florida prescribes that sets forth the </P>
<P style="margin:0px; font-family:Courier New,Times New Roman">information prescribed by section 607.1622 of the Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Proof to the satisfaction of the Department of State of the State</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">of Florida on or before July 1 of each calendar year that such report was</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">deposited in the United States mail in a sealed envelope, properly addressed</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with postage prepaid, shall be deemed in compliance with this requirement.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Each report shall be executed by the corporation by an officer or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">director or, if the corporation is in the hands of a receiver or trustee, shall</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">be executed on behalf of the corporation by such receiver or trustee, and the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">signing thereof shall have the same legal effect as if made under oath, without</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the necessity of appending such oath thereto.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Information in the annual report must be current as of the date the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">annual report is executed on behalf of the corporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Any corporation failing to file an annual report which complies</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with the requirements of this section shall not be permitted to maintain or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">defend any action in any court of this state until such report is filed and all</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[30]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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<P style="margin:0px; font-family:Courier New,Times New Roman; page-break-before:always">fees and taxes due under the Act are paid and shall be subject to dissolution or</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">cancellation of its certificate of authority to do business as provided in the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ARTICLE X</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 10.01. Definition of the &quot;Act.&quot;</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references contained herein to the &quot;Act&quot; or to sections of the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&quot;Act&quot; shall be deemed to be in reference to the Florida Business Corporation</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 10.02. Application of Florida Law.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whenever any provision of these bylaws is inconsistent with any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">provision of the Florida Business Corporation Act, Statutes 607, as they may be</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">amended from time to time, then in such instance Florida law shall prevail.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 10.03. Fiscal Year.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fiscal year of the corporation shall be determined by resolution of</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">the board of directors.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 10.04. Conflicts with Articles of Incorporation.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event that any provision contained in these bylaws conflicts</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">with any provision of the corporation's articles of incorporation, as amended</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">from time to time, the provisions of the articles of incorporation shall prevail</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">and be given full force and effect, to the full extent permissible under the</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Act.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">Section 10.05. Partial Invalidity.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-family:Courier New,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any provision of these bylaws shall, for any reason, be held by a</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">court of competent jurisdiction to be invalid, illegal or unenforceable in any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">respect, such invalidity, illegality or unenforceability shall not affect any</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">other provision of these bylaws, and these bylaws shall be construed as if such</P>
<P style="margin:0px; font-family:Courier New,Times New Roman">invalid, illegal or unenforceable provision had never been contained herein.</P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; font-family:Courier New" align=center>[31]</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
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