<SEC-DOCUMENT>0001213900-18-001523.txt : 20180209
<SEC-HEADER>0001213900-18-001523.hdr.sgml : 20180209
<ACCEPTANCE-DATETIME>20180209172146
ACCESSION NUMBER:		0001213900-18-001523
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180207
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180209
DATE AS OF CHANGE:		20180209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Citius Pharmaceuticals, Inc.
		CENTRAL INDEX KEY:			0001506251
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				273425913
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38174
		FILM NUMBER:		18592991

	BUSINESS ADDRESS:	
		STREET 1:		11 COMMERCE DRIVE
		STREET 2:		1ST FLOOR
		CITY:			CRANFORD
		STATE:			NJ
		ZIP:			07016
		BUSINESS PHONE:		(908) 967-6676

	MAIL ADDRESS:	
		STREET 1:		11 COMMERCE DRIVE
		STREET 2:		1ST FLOOR
		CITY:			CRANFORD
		STATE:			NJ
		ZIP:			07016

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Trail One, Inc.
		DATE OF NAME CHANGE:	20110314

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TrailOne, Inc.
		DATE OF NAME CHANGE:	20101119
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k020718_citiuspharma.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Date of Report (Date of earliest event reported)
<U>February 7, 2018</U></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>Citius Pharmaceuticals, Inc.</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.2in 0 0; text-align: center"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">333-206903</FONT></TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">27-3425913</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(IRS Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">11 Commerce Drive, 1st Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Cranford, NJ</P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">07016</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Registrant's telephone number, including area code: <U>(908) 967-6677</U></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0.2in; margin-left: 0">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:</P>

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<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
                                         communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
                                         material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

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<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
                                         communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 15pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
                                         communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 6pt"></P>

<P STYLE="margin-top: 0">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2
of this chapter).&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0.5in">Emerging growth company
<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange Act. &#9744;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Item
5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to their respective employment agreements,
our Chief Executive Officer, Myron Holubiak, and our Chief Financial Officer, Jaime Bartushak, are eligible to receive an annual
discretionary bonus equal to a percentage of their base salary (50% for Mr. Holubiak and 40% for Mr. Bartushak), based on the attainment
of certain goals established by our Board of Directors. In our definitive proxy statement filed on December 13, 2017, we reported
that the final bonus amounts had not been determined at that time and included in the executive compensation table under the nonequity
incentive plan compensation column an amount equal to 100% of the respective officer&rsquo;s bonus, which for Mr. Holubiak was
$225,000 and for Mr. Bartushak was $100,000, which amounts had been fully accrued and reserved. In the proxy statement, we reported
total compensation for fiscal 2017 to Mr. Holubiak of $694,114, which consisted of: base compensation of $450,000, nonequity incentive
plan compensation of $225,000, and option awards of $19,114. In that same proxy statement, we reported total compensation for fiscal
2017 to Mr. Bartushak of $455,149, which consisted of: base compensation of $250,000, nonequity incentive plan compensation of
$100,000, and option awards of $105,149. On February 7, 2018, our Board of Directors determined the attainment of the goals for
each officer and awarded a bonus of $186,750 to Mr. Holubiak and a bonus of $83,000 to Mr. Bartushak, which brings Mr. Holubiak&rsquo;s
and Mr. Bartushak&rsquo;s total compensation for fiscal 2017 to $655,864 and $438,846, respectively. There were no other changes
to the executive compensation as reported in our definitive proxy statement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Item
5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 58.5pt; text-indent: -58.5pt"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6.6pt 0 0; text-indent: 0.5in">Effective February 7, 2018, the Board
of Directors of Citius Pharmaceuticals, Inc. amended and restated the Bylaws of the Company (the &ldquo;Bylaws&rdquo;) as set forth
in the attached Amended and Restated Bylaws, allowing for stockholder proxy access for director nominations. The Bylaws now contain
a new Section 3.16, which provides the means by which stockholders can have director nominees included in the Company&rsquo;s proxy
materials for annual meetings. Generally, a stockholder or group of not more than 20 stockholders who comply with the provisions
of Section 3.16 and who have held at least 3% of the outstanding shares for at least three years may nominate the greater of two
individuals or 20% of the number of directors in office. Technical amendments were made to other sections of the Bylaws to accommodate
new Section 3.16. The foregoing description of the Bylaws is qualified in its entirety by reference to the full text of the Amended
and Restated Bylaws, a copy of which is attached as Exhibit 3.1 hereto and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 58.5pt; text-indent: -58.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>Item
5.07. Submission of Matters to a Vote of Security Holders.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We held our 2018 annual meeting of stockholders
on February 7, 2018. At the meeting, stockholders elected the following seven members to our Board of Directors for a term expiring
at the annual meeting of stockholders to be held in 2019, based on the following votes:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid; text-align: center">Member</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Withheld</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Broker </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Non-Votes</B></P></TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Myron Holubiak</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: center; vertical-align: bottom">4,713,849</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: center; vertical-align: bottom">22,512</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Leonard Mazur</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,713,844</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">22,517</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Suren Dutia</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,712,781</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">23,580</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Dr. William Kane</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,712,820</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">23,541</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Howard Safir</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,711,930</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">24,431</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Carol Webb</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,711,966</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">24,395</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; padding-left: 5.4pt">&nbsp;Dr. Eugene Holuka</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">4,711,970</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">24,391</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center; vertical-align: bottom">1,020,335</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt">At the meeting, our stockholders took the following
actions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 40pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Ratified the appointment of Wolf &amp; Company, P.C. as our independent registered
public accounting firm for the fiscal year ending September 30, 2018. The vote for such approval was 5,705,681 shares for, 45,655
shares against, 5,360 shares abstaining, and no broker non-votes; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 63.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 40pt; text-align: right"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Approved the Citius Pharmaceuticals, Inc. 2018 Omnibus Stock Incentive Plan. The vote
for such approval was 4,700,520 shares for, 30,136 shares against, 5,705 shares abstaining, and 1,020,335 shares of broker non-votes.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">tem
9.01. Financial Statements and Exhibits</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits.</I></FONT></P>

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


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
    No.</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 87%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description
                                         of Exhibit</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 21.1pt; padding-left: 5.4pt; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="f8k020718ex3-1_citiuspharma.htm">Amended and Restated Bylaws, adopted February 7, 2018.</A></FONT></TD></TR>
</TABLE>

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

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

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

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

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

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

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



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

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

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CITIUS PHARMACEUTICALS, INC.</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 53%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    &#9;February 9, 2018&#9;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 47%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Myron Holubiak</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Myron
    Holubiak<BR>President and Chief Executive Officer</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

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<DOCUMENT>
<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>f8k020718ex3-1_citiuspharma.htm
<DESCRIPTION>AMENDED AND RESTATED BYLAWS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Adopted and Effective as of February 7,
2018</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>1.1 <U>Registered Office</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The registered office of the corporation
shall be in the City of Las Vegas, County of Clark, State of Nevada. The name of the registered agent of the corporation at such
location is CSC Services of Nevada, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>1.2 <U>Other Offices</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The board of directors may at any time
establish other offices at any place or places where the corporation is qualified to do business.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.1 <U>Place of Meetings</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Meetings of the stockholders of Citius
Pharmaceuticals, Inc., a Nevada corporation (the &ldquo;<B><I>Corporation</I></B>&rdquo;), will be held at any place, within or outside
the State of Nevada, or by means of any remote electronic or other medium of communication authorized by the Nevada Revised Statutes,
as the board of directors of the Corporation may designate for that purpose from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.2 <U>Annual Meeting</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">An annual meeting of the stockholders
will be held each year on the date and at the time and place set by the board of directors. At the meeting, directors shall be
elected and any other proper business may be transacted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.3 <U>Special Meeting</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Special meetings of the stockholders may
be called at any time by the board of directors, the chairman of the board of directors, such person or persons as may be authorized
by the articles of incorporation or these bylaws, or such person or persons duly designated by the board of directors whose powers
and authority, as expressly provided in a resolution of the board of directors, include the power to call such meetings, but such
special meetings may not be called by any other person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.4 <U>Notice of Stockholders&rsquo; Meetings</U></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(a) Except to the extent otherwise required
by law, all notices of meetings of stockholders will be in writing and will be sent or otherwise given in accordance with <U>Section
2.4</U> of these bylaws not less than ten (10) nor more than sixty (60) days before the date of the meeting to each stockholder
entitled to vote at such meeting. The notice will specify the place, if any, date, and hour of the meeting, the means of remote
communication, if any, by which stockholders and proxyholders may be deemed to be present in person and vote at such meeting, and,
in the case of a special meeting, the purpose or purposes for which the meeting is called.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(b) Without limiting the manner by which
notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Corporation will also be effective
if given by a form of electronic transmission consented to by the stockholder to whom the notice is given. Any such consent will
be revocable by the stockholder by written notice to the Corporation. Any such consent will be deemed revoked if (i) the Corporation
is unable to deliver by electronic transmission two consecutive notices given by the Corporation in accordance with such consent,
and (ii) such inability becomes known to the secretary or an assistant secretary of the Corporation or to the transfer agent, or
other person responsible for the giving of notice; <U>provided</U>, <U>however</U>, the inadvertent failure to recognize such revocation
will not invalidate any meeting or other action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(c) Without limiting the manner by which
notice otherwise may be given effectively to stockholders, any notice to stockholders given by the Corporation will be effective
if given by a single written notice to stockholders who share an address if consented to by the stockholders at that address to
whom such notice is given. Any such consent will be revocable by the stockholder by written notice to the Corporation. Any stockholder
who fails to object in writing to the Corporation, within sixty (60) days of having been given written notice by the Corporation
of its intention to send the single notice permitted under this <U>subsection 2.4(c)</U>, will be deemed to have consented to receiving
such single written notice.</P>

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.5 <U>Manner of Giving Notice; Affidavit
of Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(a) Written notice of any meeting of stockholders,
if mailed, is given when deposited in the United States mail, postage prepaid, directed to the stockholder at his, her or its address
as it appears on the records of the Corporation. An affidavit of the secretary or an assistant secretary or of the transfer agent
or other agent of the Corporation that the notice has been given will, in the absence of fraud, be prima facie evidence of the
facts stated therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(b) Notice given pursuant to this <U>Section
2.5(b)</U> will be deemed given: (i) if by facsimile telecommunication, when directed to a number at which the stockholder has
consented to receive notice; (ii) if by electronic mail, when directed to an electronic mail address at which the stockholder has
consented to receive notice; (iii) if by a posting on an electronic network together with separate notice to the stockholder of
such specific posting, upon the later of such posting and the giving of such separate notice; and (iv) if by any other form of
electronic transmission, when directed to the stockholder. An affidavit of the secretary, an assistant secretary or the transfer
agent or other agent of the Corporation that the notice has been given by a form of electronic transmission will, in the absence
of fraud, be prima facie evidence of the facts stated therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.6 <U>Quorum</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The holders of a majority of the stock
issued and outstanding and entitled to vote thereat, present in person or represented by proxy, will constitute a quorum at all
meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the articles of incorporation.
If, however, such quorum is not present or represented at any meeting of the stockholders, then the chairman of the board of directors,
or in the absence of such person, any officer entitled to preside at or to act as secretary of the meeting, will have power to
adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum is present or represented.
At such adjourned meeting at which a quorum is present or represented, any business may be transacted that might have been transacted
at the meeting as originally noticed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.7 <U>Adjournments; Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any meeting of stockholders may be adjourned
to any other time and to any other place at which a meeting of stockholders may be held under these bylaws by the chairman of the
board of directors, or in the absence of such person, by any officer entitled to preside at or to act as secretary of such meeting.
When a meeting is adjourned to another time or place, unless these bylaws otherwise require, notice need not be given of the adjourned
meeting if the time and place thereof, and the means of remote communication, if any, by which stockholders and proxyholders may
be deemed to be present in person and vote at such meeting, are announced at the meeting at which the adjournment is taken. At
the adjourned meeting the Corporation may transact any business that might have been transacted at the original meeting. If the
adjournment is for more than thirty (30) days, or if after the adjournment a new record date is fixed for the adjourned meeting,
a notice of the adjourned meeting will be given to each stockholder of record entitled to vote at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.8 <U>Voting</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The stockholders entitled to vote at any
meeting of stockholders will be determined in accordance with the provisions of <U>Section 2.11</U> of these bylaws. Except as
otherwise provided in the articles of incorporation, each stockholder will be entitled to one vote for each share of capital stock
held by such stockholder, and the affirmative vote of a majority of the shares represented at a meeting and entitled to vote thereat
shall be necessary for the adoption of a motion or for the determination of all questions and business which shall come before
the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.9 <U>Waiver of Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">Whenever notice is required to be given
under any provision of the Nevada Revised Statutes or the articles of incorporation or these bylaws, a written waiver thereof,
signed by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before
or after the time stated therein, will be deemed equivalent to notice. Attendance of a person at a meeting will constitute a waiver
of notice of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the
meeting, to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be
transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in any written waiver or
any waiver by electronic transmission of notice unless so required by the articles of incorporation or these bylaws.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.10 <U>Stockholder Action by Written
Consent Without a Meeting</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless otherwise provided in the articles
of incorporation, any action required by the Nevada Revised Statutes to be taken at any annual or special meeting of stockholders
of a corporation, or any action that may be taken at any annual or special meeting of such stockholders may be taken without a
meeting, without prior notice, and without a vote if a consent in writing, setting forth the action so taken, is signed by the
holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such
action at a meeting at which all shares entitled to vote thereon were present and voted. A telegram, cablegram or other electronic
transmission consenting to an action to be taken and transmitted by a stockholder, proxyholder, or other person or persons authorized
to act for a stockholder or proxyholder, will be deemed to be written, signed and dated for the purposes of this <U>Section 2.10</U>,
<U>provided</U> that any such telegram, cablegram or other electronic transmission sets forth or is delivered with information
from which the Corporation can determine (a) that the telegram, cablegram or other electronic transmission was transmitted by the
stockholder, proxyholder, or other authorized person or persons, and (b) the date on which such stockholder, proxyholder or other
authorized person or persons transmitted such telegram, cablegram or electronic transmission. The date on which such telegram,
cablegram or electronic transmission is transmitted will be deemed to be the date on which such consent was signed. No consent
given by telegram, cablegram or other electronic transmission will be deemed to have been delivered until such consent is reproduced
in paper form and until such paper form will have been delivered to the Corporation by delivery to its registered office in this
State, its principal place of business or an officer or agent of the Corporation having custody of the book in which proceedings
of meetings of stockholders are recorded. Delivery made to the Corporation&rsquo;s registered office will be made by hand or by certified
or registered mail, return receipt requested. Notwithstanding the foregoing limitations on delivery, consents given by telegram,
cablegram or other electronic transmission may be otherwise delivered to the principal place of business of the Corporation or
to an officer or agent of the Corporation having custody of the book in which proceedings of meetings of stockholders are recorded
if, to the extent and in the manner provided by resolution of the board of directors of the Corporation. Any copy, facsimile or
other reliable reproduction of a consent in writing may be substituted or used in lieu of the original writing for any and all
purposes for which the original writing could be used, <U>provided</U> that such copy, facsimile or other reproduction will be
a complete reproduction of the entire original writing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.11 <U>Record Date for Stockholder
Notice; Voting; Giving Consents</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">In order that the Corporation may determine
the stockholders entitled to notice of or to vote at any meeting of stockholders or any adjournment thereof, or entitled to express
consent to corporate action in writing without a meeting, or entitled to receive payment of any dividend or other distribution
or allotment of any rights, or entitled to exercise any rights in respect of any change, conversion or exchange of stock or for
the purpose of any other lawful action, the board of directors may fix, in advance, a record date that will not be more than sixty
(60) nor less than ten (10) days before the date of such meeting, nor more than sixty (60) days prior to any other action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">If the board of directors does not so
fix a record date:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">(a) the record date for determining stockholders
entitled to notice of or to vote at a meeting of stockholders will be at the close of business on the day next preceding the day
on which notice is given, or, if notice is waived, at the close of business on the day next preceding the day on which the meeting
is held;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">(b) the record date for determining stockholders
entitled to express consent to corporate action in writing without a meeting, when no prior action by the board of directors is
necessary, will be the day on which the first written consent is expressed; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">(c) the record date for determining stockholders
for any other purpose will be at the close of business on the day on which the board of directors adopts the resolution relating
thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">A determination of stockholders of record
entitled to notice of or to vote at a meeting of stockholders will apply to any adjournment of the meeting; <U>provided</U>, <U>however</U>,
that the board of directors may fix a new record date for the adjourned meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.12 <U>Proxies</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">Each stockholder entitled to vote at a
meeting of stockholders or to express consent or dissent to corporate action in writing without a meeting may authorize another
person or persons to act for him by a written proxy, signed by the stockholder and filed with the secretary of the Corporation,
but no such proxy will be voted or acted upon after three (3) years from its date, unless the proxy provides for a longer period.
A proxy will be deemed signed if the stockholder&rsquo;s name is placed on the proxy (whether by manual signature, typewriting, telegraphic
transmission or otherwise) by the stockholder or the stockholder&rsquo;s attorney-in-fact. A duly executed proxy will be irrevocable
if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient in law to support an
irrevocable power under Nevada Revised Statute 78.355. A proxy may be made irrevocable regardless of whether the interest with
which it is coupled is an interest in the stock itself or an interest in the corporation generally.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.13 <U>List of Stockholders Entitled
to Vote</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The officer who has charge of the stock
ledger of a corporation will prepare and make, at least ten (10) days before every meeting of stockholders, a complete list of
the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of each stockholder and
the number of shares registered in the name of each stockholder. The Corporation will not be required to include electronic mail
addresses or other electronic contact information on such list. Such list will be open to the examination of any stockholder for
any purpose germane to the meeting for a period of at least ten (10) days prior to the meeting: (a) on a reasonably accessible
electronic network, <U>provided</U> that the information required to gain access to such list is provided with the notice of the
meeting, or (b) during ordinary business hours, at the principal place of business of the Corporation. In the event that the Corporation
determines to make the list available on an electronic network, the Corporation may take reasonable steps to ensure that such information
is available only to stockholders of the Corporation. If the meeting is to be held at a place, then the list will be produced and
kept at the time and place of the meeting during the whole time thereof, and may be examined by any stockholder who is present.
If the meeting is to be held solely by means of remote communication, then the list will also be open to the examination of any
stockholder during the whole time of the meeting on a reasonably accessible electronic network, and the information required to
access such list will be provided with the notice of the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>2.14 <U>Stockholder Proposals</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(a) Any stockholder wishing to bring any
other business before a meeting of stockholders, including, but not limited to, the nomination of persons for election as directors
(for which the stockholder must comply with either <U>Section 3.15</U> or <U>Section 3.16</U>), must provide notice to the Corporation
not more than ninety (90) and not less than sixty (60) days before the meeting, in writing by registered mail, return receipt requested,
of the business to be presented by the stockholder at the stockholders&rsquo; meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 49.5pt">(b) Any such notice will set forth the
following as to each matter the stockholder proposes to bring before the meeting: (i) a brief description of the business desired
to be brought before the meeting and the reasons for conducting such business at the meeting and, if such business includes a proposal
to amend the bylaws of the Corporation, the language of the proposed amendment; (ii) the name and address, as they appear on the
Corporation&rsquo;s books, of the stockholder proposing such business; (iii) the class and number of shares of the Corporation that are
beneficially owned by such stockholder; and (iv) a representation that the stockholder is a holder of record of stock of the Corporation
entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to propose such business; and (v) any
material interest of the stockholder in such business. Notwithstanding the foregoing provisions of this <U>Section 2.14</U>, a
stockholder will also comply with all applicable laws, rules and regulations, including, but not limited to, the Securities Act
of 1933, as amended (the &ldquo;<B><I>Securities Act</I></B>&rdquo;), and the rules and regulations promulgated thereunder with
respect to the matters set forth in this <U>Section 2.14</U>. In the absence of such notice to the Corporation meeting the above
requirements, a stockholder will not be entitled to present any business at any meeting of stockholders.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.1 <U>Powers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Subject to the provisions of the Nevada
Revised Statutes and any limitations in the articles of incorporation or these bylaws relating to action required to be approved
by the stockholders or by the outstanding shares, the business and affairs of the Corporation will be managed and all corporate
powers will be exercised by or under the direction of the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.2 <U>Number of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The number of directors of the Corporation
shall be not less than six (6) and may consist of such larger number as may be determined from time to time by the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">No reduction of the authorized number
of directors will have the effect of removing any director before that director&rsquo;s term of office expires.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.3 <U>Election, Qualification and
Term of Office of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Except as provided in <U>Sections 3.4</U>
and <U>3.15</U> of these bylaws, directors will be elected at each annual meeting of stockholders to hold office until the next
annual meeting. Directors need not be residents of Nevada or stockholders unless so required by the articles of incorporation or
these bylaws, wherein other qualifications for directors may be prescribed. Each director, including a director elected to fill
a vacancy, shall hold office until his or her successor is elected and qualified or until his or her earlier resignation or removal.
Each director will be a natural person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.4 <U>Resignation and Vacancies</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any director may resign at any time upon
notice given in writing or electronic transmission to the Corporation. The acceptance of a resignation is not required to make
it effective. When one or more directors so resigns and the resignation is effective at a future date, a majority of the directors
then in office, including those who have so resigned, will have the power to fill such vacancy or vacancies, the vote thereon to
take effect when such resignation or resignations will become effective, and each director so chosen will hold office as provided
in this <U>Section 3.4</U> in the filling of other vacancies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless otherwise provided in the articles
of incorporation or these bylaws:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">(a) vacancies and newly created directorships
resulting from any increase in the authorized number of directors elected by all of the stockholders having the right to vote as
a single class may be filled by a majority of the directors then in office, although less than a quorum, or by a sole remaining
director; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">(b) whenever the holders of any class or
classes of stock or series thereof are entitled to elect one or more directors by the provisions of the articles of incorporation,
vacancies and newly created directorships of such class or classes or series may be filled by a majority of the directors elected
by such class or classes or series thereof then in office, or by a sole remaining director so elected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">If at any time, by reason of death or
resignation or other cause, the Corporation has no directors in office, then any officer or any stockholder or an executor, administrator,
trustee or guardian of a stockholder, or other fiduciary entrusted with like responsibility for the person or estate of a stockholder,
may call a special meeting of stockholders in accordance with the provisions of these bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.5 <U>Place of Meetings; Meetings
by Telephone</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The board of directors of the Corporation
may hold meetings, both regular and special, either within or outside the State of Nevada.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless otherwise restricted by the articles
of incorporation or these bylaws, members of the board of directors, or any committee designated by the board of directors, may
participate in a meeting of the board of directors, or any committee, by means of conference telephone or other communications
equipment by means of which all persons participating in the meeting can hear each other, and such participation in a meeting will
constitute presence in person at the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.6 <U>Regular Meetings</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Regular meetings of the board of directors
may be held without notice at such time and at such place as will from time to time be determined by the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.7 <U>Special Meetings; Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Special meetings of the board of directors
for any purpose or purposes may be called at any time by the chairman of the board of directors, the president, any vice president,
the secretary or any director.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Notice of the time and place of special
meetings will be delivered either personally or by mail, telex, facsimile, telephone or electronic transmission to each director,
addressed to each director at such director&rsquo;s address and/or phone number and/or electronic transmission address as it is shown
on the records of the Corporation. If the notice is mailed, it will be deposited in the United States mail at least four (4) days
before the time of the holding of the meeting. If the notice is delivered personally or by telex, facsimile, telephone or electronic
transmission, it will be delivered by telephone or transmitted at least twenty-four (24) hours before the time of the holding of
the meeting. Any oral notice given personally or by telephone may be communicated either to the director or to a person at the
office of the director who the person giving the notice has reason to believe will promptly communicate it to the director. The
notice need not specify the purpose or the place of the meeting if the meeting is to be held at the principal executive office
of the Corporation. Notice may be delivered by any person entitled to call a special meeting or by an agent of such person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.8 <U>Quorum</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">At all meetings of the board of directors,
a majority of the authorized number of directors will constitute a quorum for the transaction of business and the act of a majority
of the directors present at any meeting at which there is a quorum will be the act of the board of directors, except as otherwise
specifically provided by statute or by the articles of incorporation. If a quorum is not present at any meeting of the board of
directors, then the directors present thereat may adjourn the meeting from time to time, without notice other than announcement
at the meeting, until a quorum is present.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.9 <U>Waiver Of Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Whenever notice is required to be given
under any provision of the Nevada Revised Statutes, the articles of incorporation or these bylaws, a written waiver thereof, signed
by the person entitled to notice, or a waiver by electronic transmission by the person entitled to notice, whether before or after
the time stated therein, will be deemed equivalent to notice. Attendance of a person at a meeting will constitute a waiver of notice
of such meeting, except when the person attends a meeting for the express purpose of objecting, at the beginning of the meeting,
to the transaction of any business because the meeting is not lawfully called or convened. Neither the business to be transacted
at, nor the purpose of, any regular or special meeting of the directors, or meeting of a committee of directors, need be specified
in any written waiver of notice unless so required by the articles of incorporation or these bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.10 <U>Adjourned Meeting; Notice</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">If a quorum is not present at any meeting
of the board of directors, then the directors present thereat may adjourn the meeting from time to time, without notice other than
announcement at the meeting, until a quorum is present.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.11 <U>Board Action by Written Consent
Without a Meeting</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless otherwise restricted by the articles
of incorporation or these bylaws, any action required or permitted to be taken at any meeting of the board of directors, or of
any committee thereof, may be taken without a meeting if all members of the board of directors or committee, as the case may be,
consent thereto in writing or by electronic transmission and the writing or writings or electronic transmission or transmissions
are filed with the minutes of proceedings of the board of directors or committee. Such filing will be in paper form if the minutes
are maintained in paper form and will be in electronic form if the minutes are maintained in electronic form.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.12 <U>Fees and Compensation of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Pursuant to Nevada Revised Statutes 78.140
and unless otherwise restricted by the articles of incorporation or these bylaws, the board of directors will have the authority
to fix the compensation of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.13 <U>Removal of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless otherwise restricted by statute,
by the articles of incorporation or by these bylaws, any director or the entire board of directors may be removed, with or without
cause, by the holders of a majority of the shares then entitled to vote at an election of directors; <U>provided</U> that, whenever
the holders of any class or classes of stock, or series thereof, are entitled to elect one or more directors by the provisions
of the articles of incorporation, removal of any directors elected by such class or classes of stock, or series thereof, will be
by the holders of a majority of the shares of such class or classes of stock, or series of stock, then entitled to vote at an election
of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">No reduction of the authorized number
of directors will have the effect of removing any director prior to the expiration of such director&rsquo;s term of office.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>3.14 <U>Chairman of the Board of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation may also have, at the
discretion of the board of directors, a chairman of the board of directors. The chairman of the board will, if such a person is
elected, preside at the meetings of the board of directors, and exercise and perform such other powers and duties as may from time
to time be assigned to him or her by the board of directors, or as may be prescribed by these bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.15
<U>Nominating Procedures</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Nominations for the election of directors
may only be made by the board of directors, by the nominating committee of the board of directors (or, if none, any other committee
serving a similar function) or by any stockholder entitled to vote generally in elections of directors where the stockholder complies
with the requirements of this <U>Section 3.15</U> or <U>Section 3.16</U>. Any stockholder of record entitled to vote generally
in elections of directors may nominate one or more persons for election as directors at a meeting of stockholders only if written
notice of such stockholder&rsquo;s intent to make such nomination or nominations has been given, either by personal delivery or by United
States certified mail, postage prepaid, to the secretary of the Corporation (i) with respect to an election to be held at an annual
meeting of stockholders, not more than ninety (90) days nor less than sixty (60) days in advance of such meeting, and (ii) with
respect to an election to be held at a special meeting of stockholders called for the purpose of the election of directors, not
later than the close of business on the tenth business day following the date on which notice of such meeting is first given to
stockholders. Each such notice of a stockholder&rsquo;s intent to nominate a director or directors at an annual or special meeting will
set forth the following: (A) the name and address, as they appear on the Corporation&rsquo;s books, of the stockholder who intends to
make the nomination and the name and residence address of the person or persons to be nominated; (B) the class and number of shares
of the Corporation which are beneficially owned by the stockholder; (C) a representation that the stockholder is a holder of record
of stock of the Corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to nominate
the person or persons specified in the notice; (D) a description of all arrangements or understandings between the stockholder
and each nominee and any other person or persons (naming such person or persons) pursuant to which the nomination or nominations
are to be made by the stockholder; (E) such other information regarding each nominee proposed by such stockholder as would be required
to be disclosed in solicitations of proxies for election of directors, or as would otherwise be required, in each case pursuant
to Regulation 14A under the Securities Exchange Act of 1934, as amended (the &ldquo;<B><I>Exchange Act</I></B>&rdquo;), including
any information that would be required to be included in a proxy statement filed pursuant to Regulation 14A had the nominee been
nominated by the board of directors; and (F) the written consent of each nominee to be named in a proxy statement and to serve
as director of the Corporation if so elected. No person will be eligible to serve as a director of the Corporation unless nominated
in accordance with the procedures set forth in this <U>Section 3.15</U> or <U>Section 3.16</U>. If the chairman of the stockholders&rsquo;
meeting will determine that a nomination was not made in accordance with the procedures described by these bylaws, he will so declare
to the meeting, and the defective nomination will be disregarded. Notwithstanding the foregoing provisions of this Section, a stockholder
will also comply with all applicable requirements of the Exchange Act and the rules and regulations promulgated thereunder with
respect to the matters set forth in this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>3.16 <U>Proxy Access for Director Nominations</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Information
to be Included in the Corporation&rsquo;s Proxy Materials</U>. Whenever the board of directors solicits proxies with respect to
the election of directors at an annual meeting of stockholders (following the 2018 annual meeting of stockholders), subject to
the provisions of this <U>Section 3.16</U>, the Corporation shall include in its proxy statement for such annual meeting, in addition
to any persons nominated for election by or at the direction of the board of directors, the name, together with the Required Information
(as defined below), of any person nominated for election (a &ldquo;<B><I>Stockholder Nominee</I></B>&rdquo;) to the board of directors
by an Eligible Stockholder (as defined in <U>Section 3.16(d)</U>) who expressly elects at the time of providing the notice required
by this <U>Section 3.16</U> to have such nominee included in the Corporation&rsquo;s proxy materials pursuant to this <U>Section
3.16</U>. For purposes of this <U>Section 3.16</U>, the &ldquo;<B><I>Required Information</I></B>&rdquo; that the Corporation will
include in its proxy statement is (i) the information provided to the Secretary of the Corporation concerning the Stockholder Nominee
and the Eligible Stockholder that is required to be disclosed in the Corporation&rsquo;s proxy statement pursuant to Section 14
of the Exchange Act, and the rules and regulations promulgated thereunder, and (ii) if the Eligible Stockholder so elects, a Supporting
Statement (as defined in <U>Section 3.16(h)</U>). For the avoidance of doubt, nothing in this <U>Section 3.16</U> shall limit the
Corporation&rsquo;s ability to solicit against any Stockholder Nominee or include in its proxy materials the Corporation&rsquo;s
own statements or other information relating to any Eligible Stockholder or Stockholder Nominee, including any information provided
to the Corporation pursuant to this <U>Section 3.16</U>. Subject to the provisions of this <U>Section 3.16</U>, the name of any
Stockholder Nominee included in the Corporation&rsquo;s proxy statement for an annual meeting of stockholders shall also be set
forth on the form of proxy distributed by the Corporation in connection with such annual meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
Period.</U> In addition to any other applicable requirements, for a nomination to be made by an Eligible Stockholder pursuant to
this <U>Section 3.16</U>, the Eligible Stockholder must have given timely notice thereof (the &ldquo;<B><I>Notice of Proxy Access
Nomination</I></B>&rdquo;) in proper written form to the Secretary of the Corporation. To be timely, the Notice of Proxy Access
Nomination must be delivered to or be mailed and received by the Secretary at the principal executive offices of the Corporation
not less one hundred twenty (120) days nor more than one hundred fifty (150) days in advance of the anniversary of the date that
the Corporation first distributed its proxy statement to stockholders for the previous year&rsquo;s annual meeting of stockholders.
In no event shall the adjournment or postponement of the annual meeting, or the public announcement of such an adjournment or postponement,
commence a new time period (or extend any time period) for the giving of a Notice of Proxy Access Nomination pursuant to this <U>Section
3.16</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Permitted
Number of Stockholder Nominees</U>. The maximum number of Stockholder Nominees nominated by all Eligible Stockholders that will
be included in the Corporation&rsquo;s proxy materials with respect to an annual meeting of stockholders shall not exceed the greater
of (x) two (2) or (y) twenty percent (20%) of the number of directors in office as of the last day on which a Notice of Proxy Access
Nomination may be delivered pursuant to and in accordance with this <U>Section 3.16</U> (the &ldquo;<B><I>Final Proxy Access Nomination
Date</I></B>&rdquo;) or, if such amount is not a whole number, the closest whole number below twenty percent (20%) (such number,
as it may be adjusted pursuant to this <U>Section 3.16(c)</U>), the &ldquo;<B><I>Permitted Number</I></B>&rdquo;). In the event
that one (1) or more vacancies for any reason occurs on the board of directors after the Final Proxy Access Nomination Date but
before the date of the annual meeting and the board of directors resolves to reduce the size of the board of directors in connection
therewith, the Permitted Number shall be calculated based on the number of directors in office as so reduced. In addition, the
Permitted Number shall be reduced by (i) the number of individuals who will be included in the Corporation&rsquo;s proxy materials
as nominees recommended by the board of directors pursuant to an agreement, arrangement or other understanding with a stockholder
or group of stockholders (other than any such agreement, arrangement or understanding entered into in connection with an acquisition
of stock from the Corporation by such stockholder or group of stockholders) and (ii) the number of directors in office as of the
Final Proxy Access Nomination Date who were included in the Corporation&rsquo;s proxy materials as Stockholder Nominees for any
of the two (2) preceding annual meetings of stockholders (including any persons counted as Stockholder Nominees pursuant to the
immediately succeeding sentence) and whom the board of directors decides to nominate for re-election to the board of directors.
For purposes of determining when the Permitted Number has been reached, any individual nominated by an Eligible Stockholder for
inclusion in the Corporation&rsquo;s proxy materials pursuant to this <U>Section 3.16</U> whose nomination is subsequently withdrawn
or whom the board of directors decides to nominate for election to the board of directors shall be counted as one (1) of the Stockholder
Nominees. Any Eligible Stockholder submitting more than one (1) Stockholder Nominee for inclusion in the Corporation&rsquo;s proxy
materials pursuant to this <U>Section 3.16</U> shall rank such Stockholder Nominees based on the order in which the Eligible Stockholder
desires such Stockholder Nominees to be selected for inclusion in the Corporation&rsquo;s proxy materials in the event that the
total number of Stockholder Nominees submitted by Eligible Stockholders pursuant to this <U>Section 3.16</U> exceeds the Permitted
Number. In the event that the number of Stockholder Nominees submitted by Eligible Stockholders pursuant to this <U>Section 3.16</U>
exceeds the Permitted Number, the highest ranking Stockholder Nominee who meets the requirements of this <U>Section 3.16</U> from
each Eligible Stockholder will be selected for inclusion in the Corporation&rsquo;s proxy materials until the Permitted Number
is reached, going in order of the amount (largest to smallest) of shares of stock of the Corporation each Eligible Stockholder
disclosed as owned in its Notice of Proxy Access Nomination. If the Permitted Number is not reached after the highest ranking Stockholder
Nominee who meets the requirements of this <U>Section 3.16</U> from each Eligible Stockholder has been selected, then the next
highest ranking Stockholder Nominee who meets the requirements of this <U>Section 3.16</U> from each Eligible Stockholder will
be selected for inclusion in the Corporation&rsquo;s proxy materials, and this process will continue as many times as necessary,
following the same order each time, until the Permitted Number is reached. Notwithstanding anything to the contrary contained in
this <U>Section 3.16</U>, the Corporation shall not be required to include any Stockholder Nominees in its proxy materials pursuant
to this <U>Section 3.16</U> for or any meeting of stockholders for which the Secretary of the Corporation receives notice that
a stockholder intends to nominate one (1) or more persons for election to the board of directors pursuant to the advance notice
requirements for stockholder nominees set forth in <U>Section 2.14</U> of Article II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Eligible
Stockholder</U>. An &ldquo;<B><I>Eligible Stockholder</I></B>&rdquo; is a stockholder or group of no more than twenty (20) stockholders
(counting as one (1) stockholder, for this purpose, any two (2) or more funds that are part of the same Qualifying Fund Group (as
defined below)) that (i) has owned (as defined in <U>Section 3.16(e)</U>) continuously for at least three (3) years (the &ldquo;<B><I>Minimum
Holding Period</I></B>&rdquo;) a number of shares of stock of the Corporation that represents at least three percent (3%) of the
voting power of all shares of stock of the Corporation issued and outstanding and entitled to vote in the election of directors
as of the date the Notice of Proxy Access Nomination is received by the Secretary at the principal executive offices of the Corporation
in accordance with this <U>Section 3.16</U> (the &ldquo;<B><I>Required Shares</I></B>&rdquo;), (ii) continues to own the Required
Shares through the date of the annual meeting and (iii) satisfies all other requirements of, and complies with all applicable procedures
set forth in, this <U>Section 3.16</U>. A &ldquo;<B><I>Qualifying Fund Group</I></B>&rdquo; means two (2) or more funds that are
(A) under common management and investment control, (B) under common management and funded primarily by the same employer or (C)
a &ldquo;group of investment companies&rdquo; as such term is defined in Section 12(d)(1)(G)(ii) of the Investment Company Act
of 1940, as amended. Whenever the Eligible Stockholder consists of a group of stockholders (including a group of funds that are
part of the same Qualifying Fund Group), (x) each provision in this <U>Section 3.16</U> that requires the Eligible Stockholder
to provide any written statements, representations, undertakings, agreements or other instruments or to meet any other conditions
shall be deemed to require each stockholder (including each individual fund) that is a member of such group to provide such statements,
representations, undertakings, agreements or other instruments and to meet such other conditions (except that the members of such
group may aggregate the shares that each member has owned continuously for the Minimum Holding Period in order to meet the three
percent (3%) ownership requirement of the &ldquo;<B><I>Required Shares</I></B>&rdquo; definition) and (y) a breach of any obligation,
agreement or representation under this <U>Section 3.16</U> by any member of such group shall be deemed a breach by the Eligible
Stockholder. No person may be a member of more than one (1) group of stockholders constituting an Eligible Stockholder with respect
to any annual meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definition
of Ownership</U>. For purposes of this <U>Section 3.16</U>, an Eligible Stockholder shall be deemed to &ldquo;own&rdquo; only those
outstanding shares of stock of the Corporation as to which the stockholder possesses both (i) the full voting and investment rights
pertaining to the shares and (ii) the full economic interest in (including the opportunity for profit from and risk of loss on)
such shares; provided that the number of shares calculated in accordance with clauses (i) and (ii) shall not include any shares
(x) sold by such stockholder or any of its affiliates in any transaction that has not been settled or closed, (y) borrowed by such
stockholder or any of its affiliates for any purposes or purchased by such stockholder or any of its affiliates pursuant to an
agreement to resell or (z) subject to any option, warrant, forward contract, swap, contract of sale, other derivative or similar
instrument or agreement entered into by such stockholder or any of its affiliates, whether any such instrument or agreement is
to be settled with shares or with cash based on the notional amount or value of shares of outstanding stock of the Corporation,
in any such case which instrument or agreement has, or is intended to have, the purpose or effect of (1) reducing in any manner,
to any extent or at any time in the future, such stockholder&rsquo;s or its affiliates&rsquo; full right to vote or direct the
voting of any such shares and/or (2) hedging, offsetting or altering to any degree any gain or loss realized or realizable from
maintaining the full economic ownership of such shares by such stockholder or affiliate. A stockholder shall &ldquo;own&rdquo;
shares held in the name of a nominee or other intermediary so long as the stockholder retains the right to instruct how the shares
are voted with respect to the election of directors and possesses the full economic interest in the shares. A stockholder&rsquo;s
ownership of shares shall be deemed to continue during any period in which (i) the stockholder has loaned such shares, provided
that the stockholder has the power to recall such loaned shares on five (5) business days&rsquo; notice and includes in the Notice
of Proxy Access Nomination an agreement that it (A) will promptly recall such loaned shares upon being notified that any of its
Stockholder Nominees will be included in the Corporation&rsquo;s proxy materials and (B) will continue to hold such recalled shares
through the date of the annual meeting or (ii) the stockholder has delegated any voting power by means of a proxy, power of attorney
or other instrument or arrangement which is revocable at any time by the stockholder. The terms &ldquo;owned,&rdquo; &ldquo;owning&rdquo;
and other variations of the word &ldquo;own&rdquo; shall have correlative meanings. Whether outstanding shares of stock of the
Corporation are &ldquo;owned&rdquo; for these purposes shall be determined by the board of directors. For purposes of this <U>Section
3.16</U>, the term &ldquo;affiliate&rdquo; or &ldquo;affiliates&rdquo; shall have the meaning ascribed thereto under the General
Rules and Regulations under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
of Notice</U>. To be in proper written form, the Notice of Proxy Access Nomination must include or be accompanied by the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
written statement by the Eligible Stockholder certifying as to the number of shares it owns and has owned continuously for the
Minimum Holding Period, and the Eligible Stockholder&rsquo;s agreement to provide (A) within five (5) business days following the
later of the record date for the annual meeting or the date notice of the record date is first publicly disclosed, a written statement
by the Eligible Stockholder certifying as to the number of shares it owns and has owned continuously through the record date and
(B) immediate notice if the Eligible Stockholder ceases to own any of the Required Shares prior to the date of the annual meeting;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;one
or more written statements from the record holder of the Required Shares (and from each intermediary through which the Required
Shares are or have been held during the Minimum Holding Period) verifying that, as of a date within seven calendar days prior to
the date the Notice of Proxy Access Nomination is delivered to or mailed and received by the Secretary of the Corporation, the
Eligible Stockholder owns, and has owned continuously for the Minimum Holding Period, the Required Shares, and the Eligible Stockholder&rsquo;s
agreement to provide, within five (5) business days following the later of the record date for the annual meeting or the date notice
of the record date is first publicly disclosed, one or more written statements from the record holder and such intermediaries verifying
the Eligible Stockholder&rsquo;s continuous ownership of the Required Shares through the record date;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
copy of the Schedule 14N that has been or is concurrently being filed with the United States Securities and Exchange Commission
as required by Rule 14a-18 under the Exchange Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
details of any relationship that existed with the past three (3) years and that would have been described pursuant to Item 6(e)
of Schedule 14N if it existed on the date of submission of the Schedule 14N;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
information, statements, representations, agreements and other documents that would be required to be set forth in or included
with a stockholder&rsquo;s notice of a nomination pursuant to <U>Section 14.2</U> of Article II, together with the written consent
of each Stockholder Nominee to being named as a nominee and to serve as a director if elected;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
representation that the Eligible Stockholder (A) will continue to hold the Required Shares through the date of the annual meeting,
(B) acquired the Required Shares in the ordinary course of business and not with the intent to change or influence control of the
Corporation, and does not presently have such intent, (C) has not nominated and will not nominate for election to the board of
directors at the annual meeting any person other than the Stockholder Nominee(s) it is nominating pursuant to this <U>Section 3.16</U>,
(D) has not engaged and will not engage in, and has not and will not be a &ldquo;participant&rdquo; in another person&rsquo;s,
&ldquo;solicitation&rdquo; within the meaning of Rule 14a-1(l) under the Exchange Act in support of the election of any individual
as a director at the annual meeting other than its Stockholder Nominee(s) or a nominee of the board of directors of the Corporation,
(E) has not distributed and will not distribute to any stockholder of the Corporation any form of proxy for the annual meeting
other than the form distributed by the Corporation, (F) has complied and will comply with all laws and regulations applicable to
solicitations and the use, if any, of soliciting material in connection with the annual meeting and (G) has provided and will provide
facts, statements and other information in all communications with the Corporation and its stockholders that are or will be true
and correct in all material respects and do not and will not omit to state a material fact necessary in order to make the statements
made, in light of the circumstances under which they were made, not misleading;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;a
statement indicating whether the Eligible Stockholder intends to continue to own the Required Shares for at least one (1) year
following the annual meeting;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(viii)&nbsp;&nbsp;an
undertaking that the Eligible Stockholder agrees to (A) assume all liability stemming from any legal or regulatory violation arising
out of the Eligible Stockholder&rsquo;s communications with the stockholders of the Corporation or out of the information that
the Eligible Stockholder provided to the Corporation, (B) indemnify and hold harmless the Corporation and each of its directors,
officers and employees individually against any liability, loss or damages in connection with any threatened or pending action,
suit or proceeding, whether legal, administrative or investigative, against the Corporation or any of its directors, officers or
employees arising out of any nomination submitted by the Eligible Stockholder pursuant to this <U>Section 3.16</U> or any solicitation
or other activity in connection therewith and (C) file with the Securities and Exchange Commission any solicitation or other communication
with the stockholders of the Corporation relating to the meeting at which its Stockholder Nominee(s) will be nominated, regardless
of whether any such filing is required under Regulation 14A of the exchange Act or whether any exemption from filing is available
for such solicitation or other communication under Regulation 14A of the Exchange Act;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a nomination by a group of stockholders together constituting an Eligible Stockholder, the designation by all group
members of one (1) member of the group that is authorized to receive communications, notices and inquiries from the Corporation
and to act on behalf of all members of the group with respect to all matters relating to the nomination under this <U>Section 3.16</U>
(including withdrawal of the nomination); and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the case of a nomination by a group of stockholders together constituting an Eligible Stockholder in which two (2) or more funds
that are part of the same Qualifying Fund Group are counted as one (1) stockholder for purposes of qualifying as an Eligible Stockholder,
documentation reasonably satisfactory to the Corporation that demonstrates that the funds are part of the same Qualifying Fund
Group.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional
Required Information</U>. In addition to the information required pursuant to <U>Section 3.16(f)</U> or any other provision of
these By-laws, (i) the Corporation may require any proposed Stockholder Nominee to furnish any other information (A) that may reasonably
be required by the Corporation to determine whether the Stockholder Nominee would be independent under the Independence Standards,
(B) that could be material to a reasonable stockholder&rsquo;s understanding of the independence, or lack thereof, of such Stockholder
Nominee or (C) that may reasonably be required by the Corporation to determine the eligibility of such Stockholder Nominee to serve
as a director of the Corporation, and (ii) the Corporation may require the Eligible Stockholder to furnish any other information
that may reasonably be required by the Corporation to verify the Eligible Stockholder&rsquo;s continuous ownership of the Required
Shares for the Minimum Holding Period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Supporting
Statement</U>. The Eligible Stockholder may, at its option, provide to the Secretary of the Corporation, at the time the Notice
of Proxy Access Nomination is provided, a written statement, not to exceed five hundred (500) words, in support of the Stockholder
Nominee(s)&rsquo; candidacy (a &ldquo;Supporting Statement&rdquo;). Only one (1) Supporting Statement may be submitted by an Eligible
Stockholder (including any group of stockholders together constituting an Eligible Stockholder) in support of its Stockholder Nominee(s).
Notwithstanding anything to the contrary contained in this <U>Section 3.16</U>, the Corporation may omit from its proxy materials
any information or Supporting Statement (or portion thereof) that it, in good faith, believes would violate any applicable law
or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Correction
of Defects</U>. In the event that any information or communications provided by an Eligible Stockholder or a Stockholder Nominee
to the Corporation or its stockholders ceases to be true and correct in all material respects or omits to state a material fact
necessary to make the statements made, in light of the circumstances under which they were made, not misleading, such Eligible
Stockholder or Stockholder Nominee, as the case may be, shall promptly notify the Secretary of the Corporation of any defect in
such previously provided information and of the information that is required to correct any such defect; it being understood that
providing such notification shall not be deemed to cure any such defect or limit the remedies available to the Corporation relating
to any such defect (including the right to omit a Stockholder Nominee from its proxy materials pursuant to this <U>Section 3.16</U>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stockholder
Nominee Eligibility</U>. Notwithstanding anything to the contrary contained in this <U>Section 3.16</U>, the Corporation shall
not be required to include in its proxy materials, pursuant to this <U>Section 3.16</U>, any Stockholder Nominee (i) who would
not be an independent director under the independence standards of the principal U.S. exchange on which the Corporation&rsquo;s
common stock is listed for trading, (ii) whose election as a member of the board of directors would cause the Corporation to be
in violation of these bylaws, the Corporation&rsquo;s Certificate of Incorporation, the rules and listing standards of the principal
United States securities exchanges upon which the stock of the Corporation is listed or traded, or any applicable state or federal
law, rule or regulation, (iii) who is or has been, within the past three (3) years, an officer or director of a competitor, as
defined in Section 8 of the Clayton Antitrust Act of 1914, (iv) who is a named subject of a pending criminal proceeding (excluding
traffic violations and other minor offenses) or has been convicted in such a criminal proceeding within the past ten years, (v)
who is subject to any order of the type specified in Rule 506(d) of Regulation D promulgated under the Securities Act, or (vi)
who shall have provided any information to the Corporation or its stockholders that was untrue in any material respect or that
omitted to state a material fact necessary to make the statements made, in light of the circumstances in which they were made,
not misleading.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Invalid
Nominations</U>. Notwithstanding anything to the contrary set forth herein, if (i) a Stockholder Nominee and/or the applicable
Eligible Stockholder breaches any of its agreements or representations or fails to comply with any of its obligations under this
<U>Section 3.16</U> or (ii) a Stockholder Nominee otherwise becomes ineligible for inclusion in the Corporation&rsquo;s proxy materials
pursuant to this <U>Section 3.16</U> or dies, becomes disabled or otherwise becomes ineligible or unavailable for election at the
annual meeting, in each case as determined by the board of directors or the chair of the annual meeting, (x) the Corporation may
omit or, to the extent feasible, remove the information concerning such Stockholder Nominee and the related Supporting Statement
from its proxy materials and/or otherwise communicate to its stockholders that such Stockholder Nominee will not be eligible for
election at the annual meeting, (y) the Corporation shall not be required to include in its proxy materials any successor or replacement
nominee proposed by the applicable Eligible Stockholder or any other Eligible Stockholder and (z) the board of directors or the
chair of the annual meeting shall declare such nomination to be invalid and such nomination shall be disregarded notwithstanding
that proxies in respect of such vote may have been received by the Corporation. In addition, if the Eligible Stockholder (or a
qualified representative thereof) does not appear at the annual meeting to present any nomination pursuant to this <U>Section 3.16</U>,
such nomination shall be declared invalid and disregarded as provided in clause (z) above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions
on Re-Nominations</U>. Any Stockholder Nominee who is included in the Corporation&rsquo;s proxy materials for a particular annual
meeting of stockholders but either (i) withdraws from or becomes ineligible or unavailable for election at the annual meeting,
or (ii) does not receive at least twenty-five percent (25%) of the votes cast in favor of such Stockholder Nominee&rsquo;s election,
will be ineligible to be a Stockholder Nominee pursuant to this <U>Section 3.16</U> for the next two (2) annual meetings of stockholders.
For the avoidance of doubt, the immediately preceding sentence shall not prevent any stockholder from nominating any person to
the board of directors pursuant to and in accordance with <U>Section 14.2</U> of Article II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exclusive
Method</U>. This <U>Section 3.16</U> provides the exclusive method for a stockholder to include nominees for election to the board
of directors in the Corporation&rsquo;s proxy materials.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>4.1 <U>Committees of Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The board of directors may, by resolution
passed by a majority of the whole board of directors, designate one or more committees, with each committee to consist of one or
more of the directors of the Corporation. The board of directors may designate one or more directors as alternate members of any
committee, who may replace any absent or disqualified member at any meeting of the committee. Any such committee, to the extent
provided in the resolution of the board of directors or in the bylaws of the Corporation, will have and may exercise all the powers
and authority of the board of directors in the management of the business and affairs of the Corporation, and may authorize the
seal of the Corporation to be affixed to all papers that may require it; but no such committee will have the power or authority
to (i) approve or adopt, or recommend to the stockholders, any action or matter expressly required by the Nevada Revised Statutes
to be submitted to stockholders for approval, or (ii) adopt, amend or repeal any bylaws of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>4.2 <U>Committee Minutes</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Each committee will keep regular minutes
of its meetings and report the same to the board of directors when required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>4.3 <U>Meetings and Action of Committees</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">Meetings and actions of committees will
be governed by, and be held and taken in accordance with, the provisions of <U>Article III</U> of these bylaws, <U>Section 3.5</U>
(place of meetings and meetings by telephone), <U>Section 3.6</U> (regular meetings), <U>Section 3.7</U> (special meetings and
notice), <U>Section 3.8</U> (quorum), <U>Section 3.9</U> (waiver of notice), <U>Section 3.10</U> (adjourned meeting and notice),
and <U>Section 3.11</U> (board action by written consent without a meeting), with such changes in the context of those bylaws as
are necessary to substitute the committee and its members for the board of directors and its members; <U>provided</U>, <U>however</U>,
that the time of regular meetings of committees may also be called by resolution of the board of directors and that notice of special
meetings of committees will also be given to all alternate members, who will have the right to attend all meetings of the committee.
The board of directors may adopt rules for the governance of any committee not inconsistent with the provisions of these bylaws.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.1 <U>Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The officers of the Corporation will be
a chief executive officer, president, one or more vice presidents, a secretary and a treasurer, each of whom will be elected by
the board of directors. The Corporation may also have, at the discretion of the board of directors, a chairman of the board, one
or more assistant vice presidents, assistant secretaries, assistant treasurers, and any such other officers as may be appointed
in accordance with the provisions of <U>Section 5.3</U> of these bylaws. Any number of offices may be held by the same person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.2 <U>Election of Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The officers of the Corporation, except
such officers as may be appointed in accordance with the provisions of <U>Sections 5.3</U> of these bylaws, will be chosen by the
board of directors, subject to the rights, if any, of an officer under any contract of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.3 <U>Subordinate Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The board of directors may appoint, or
empower the president to appoint, such other officers and agents as the business of the Corporation may require, each of whom will
hold office for such period, have such authority, and perform such duties as are provided in these bylaws or as the board of directors
may from time to time determine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.4 <U>Removal and Resignation of Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Subject to the rights, if any, of an officer
under any contract of employment, any officer may be removed, either with or without cause, by an affirmative vote of the majority
of the board of directors at any regular or special meeting of the board of directors or by any officer upon whom such power of
removal may be conferred by the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any officer may resign at any time by
giving written notice to the Corporation. Any resignation will take effect at the date of the receipt of that notice or at any
later time specified in that notice; and, unless otherwise specified in that notice, the acceptance of the resignation will not
be necessary to make it effective. Any resignation is without prejudice to the rights, if any, of the Corporation under any contract
to which the officer is a party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.5 <U>Vacancies in Offices</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any vacancy occurring in any office of
the Corporation will be filled by the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.6 <U>Chairman of the Board</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The chairman of the board of directors
will, if present, preside at meetings of the board of directors, and exercise and perform such other powers and duties as may from
time to time be assigned to him by the board of directors or as may be prescribed by these bylaws. The chairman of the board of
directors will be chosen by the board of directors. The chairman is ex-officio a member of all committees of the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.7 <U>Chief Executive Officer</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Subject to such supervisory powers, if
any, as may be given by the board of directors to the chairman of the board, the chief executive officer of the corporation shall,
subject to the control of the board of directors, have general supervision, direction and control of the business and the officers
of the corporation. The chief executive officer shall preside at all meetings of the stockholders and, in the absence or nonexistence
of a chairman of the board, at all meetings of the board of directors at which he or she is present. The chief executive officer
shall have the general powers and duties of management usually vested in the office of chief executive officer of a corporation
and shall have such other powers and duties as may be prescribed by the board of directors or these bylaws.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.8 <U>President</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Subject to such supervisory powers, if
any, as may be given by the board of directors to the chairman of the board or the chief executive officer, if there be such officers,
the president shall, subject to the control of the board of directors, have general supervision, direction and control of the business
and the officers of the corporation. In the absence or nonexistence of the chief executive officer, he or she shall preside at
all meetings of the stockholders and, in the absence or nonexistence of a chairman of the board and chief executive officer, at
all meetings of the board of directors at which he or she is present. He or she shall have the general powers and duties of management
usually vested in the office of president of a corporation and shall have such other powers and duties as may be prescribed by
the board of directors or these bylaws. The board of directors may provide in their discretion that the offices of president and
chief executive officer may be held by the same person.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.9 <U>Vice Presidents</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">In the absence or disability of the chief
executive officer and president, the vice presidents, if any, in order of their rank as fixed by the board of directors or, if
not ranked, a vice president designated by the board of directors, will perform all the duties of the president and when so acting
will have all the powers of, and be subject to all the restrictions upon, the president. The vice presidents will have such other
powers and perform such other duties as from time to time may be prescribed for them by the board of directors, these bylaws, the
president or the chairman of the board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.10 <U>Secretary</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The secretary or an agent of the Corporation
will keep or cause to be kept, at the principal executive office of the Corporation or such other place as the board of directors
may direct, a book of minutes of all meetings and actions of directors, committees of directors, and stockholders. The minutes
will show the time and place of each meeting, whether regular or special (and, if special, how authorized and the notice given),
the names of those present at directors&rsquo; meetings or committee meetings, the number of shares present or represented at stockholders&rsquo;
meetings, and the proceedings thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The secretary will keep, or cause to be
kept, at the principal executive office of the Corporation or at the office of the Corporation&rsquo;s transfer agent or registrar, as
determined by resolution of the board of directors, a share register, or a duplicate share register, showing the names of all stockholders
and their addresses, the number and classes of shares held by each, the number and date of certificates evidencing such shares,
and the number and date of cancellation of every certificate surrendered for cancellation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The secretary will give, or cause to be
given, notice of all meetings of the stockholders and of the board of directors required to be given by law or by these bylaws.
The secretary will keep the seal of the Corporation, if one be adopted, in safe custody and will have such other powers and perform
such other duties as may be prescribed by the board of directors or by these bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.11 <U>Treasurer</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The treasurer will be the chief financial
officer of the Corporation. The treasurer will keep and maintain, or cause to be kept and maintained, adequate and correct books
and records of accounts of the properties and business transactions of the Corporation, including accounts of its assets, liabilities,
receipts, disbursements, gains, losses, capital, retained earnings, and shares. The books of account will at all reasonable times
be open to inspection by any director.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The treasurer will deposit all money and
other valuables in the name and to the credit of the Corporation with such depositaries as may be designated by the board of directors.
The treasurer will disburse the funds of the Corporation as may be ordered by the board of directors, will render to the president
and directors, whenever they request it, an account of all of his or her transactions as treasurer and of the financial condition
of the Corporation, and will have such other powers and perform such other duties as may be prescribed by the board of directors
or these bylaws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.12 <U>Representation of Shares of
Other Corporations</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The chairman of the board, the chief executive
officer, the president, any vice president, the treasurer or the secretary of the Corporation, or any other person authorized by
the board of directors or the chief executive officer, president or a vice president, is authorized to vote, represent, and exercise
on behalf of the Corporation all rights incident to any and all shares of any other corporation or corporations standing in the
name of the Corporation. The authority granted herein may be exercised either by such person directly or by any other person authorized
to do so by proxy or power of attorney duly executed by such person having the authority.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.13 <U>Authority and Duties of Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">In addition to the foregoing authority
and duties, all officers of the Corporation will respectively have such authority and perform such duties in the management of
the business of the Corporation as may be designated from time to time by the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>5.14 <U>Compensation</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The officers of the Corporation will receive
such compensation as will be fixed from time to time by the board of directors or a committee thereof. Unless otherwise determined
by the board of directors, no officer is prohibited from receiving any compensation by reason of the fact that such officer is
a director of the Corporation.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>6.1 <U>Indemnification of Directors
and Officers</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation will, to the maximum extent
and in the manner permitted by the Nevada Revised Statutes (as such law may from time to time be amended, but, in the case of any
such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights), indemnify
each of its directors and officers (each such person sometimes referred to in this <U>Section 6.1</U> as an &ldquo;indemnitee&rdquo;)
against Expenses (as herein defined), judgments, fines, penalties, ERISA excise taxes, settlements, loss, liability, and other
amounts actually and reasonably incurred in connection with any Proceeding (as herein defined), arising by reason of such person&rsquo;s
Official Capacity (as herein defined) or anything done or not done in such person&rsquo;s Official Capacity. For purposes of this <U>Section
6.1</U>, a director or officer of the Corporation includes any person (a) who is or was a director or officer of the Corporation,
(b) who is or was serving at the request of the Corporation as a director, officer, manager, member, partner, trustee, or other
agent of another corporation, limited liability company, partnership, joint venture, trust or other enterprise, or (c) who was
a director or officer of a corporation that was a predecessor corporation or other entity of the Corporation or of another enterprise
at the request of such predecessor corporation or entity. Such indemnification will include the right to receive payment of any
Expenses incurred by the indemnitee in connection with any Proceeding in advance of its final disposition, consistent with the
provisions of applicable law as then in effect. The right of indemnification provided in this <U>Section 6.1</U> will not be exclusive
of any other rights to which those seeking indemnification may otherwise be entitled, and the provisions of this <U>Section 6.1</U>
will inure to the benefit of the heirs and legal representatives of any person entitled to indemnity under this <U>Section 6.1</U>
and will be applicable to Proceedings commenced or continuing after the adoption of this <U>Section 6.1</U>, whether arising from
acts or omissions occurring before or after such adoption. In furtherance, but not in limitation of the foregoing provisions, the
following procedures, presumptions and remedies will apply with respect to advancement of Expenses and the right to indemnification
under this <U>Section 6.1</U>. Indemnitee will be entitled to indemnification and advancement against all Expenses reasonably incurred
for serving as a witness by reason of indemnitee&rsquo;s Official Capacity in any Proceeding with respect to which indemnitee is not
a party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Advancement
of Expenses</U>. All reasonable Expenses incurred by or on behalf of the indemnitee in connection with any Proceeding will be advanced
to the indemnitee by the Corporation within twenty (20) days after the receipt by the Corporation of a statement or statements
from the indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such
Proceeding. Such statement or statements will reasonably evidence the Expenses incurred by the indemnitee and, if required by law
at the time of such advance, will include or be accompanied by an undertaking by or on behalf of the indemnitee to repay the amounts
advanced if it should ultimately be determined that the indemnitee is not entitled to be indemnified against such Expenses pursuant
to this <U>Section 6.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedure
for Determination of Entitlement to Indemnification.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.5pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
obtain indemnification under this <U>Section 6.1</U>, an indemnitee will submit to the secretary of the Corporation a written request,
including such documentation and information as is reasonably available to the indemnitee and reasonably necessary to determine
whether and to what extent the indemnitee is entitled to indemnification (the &ldquo;<B><I>Supporting Documentation</I></B>&rdquo;).
The determination of the indemnitee&rsquo;s entitlement to indemnification will be made not later than sixty (60) days after receipt
by the Corporation of the written request for indemnification together with the Supporting Documentation. The secretary of the
Corporation will, promptly upon receipt of such a request for indemnification, advise the board of directors in writing that the
indemnitee has requested indemnification, whereupon the Corporation will provide such indemnification, including without limitation
advancement of Expenses, so long as the indemnitee is legally entitled thereto in accordance with applicable law.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
indemnitee&rsquo;s entitlement to indemnification under this <U>Section 6.1</U> will be determined in one of the following ways: (A)
by a majority vote of the Disinterested Directors (as hereinafter defined), even though less than a quorum of the board of directors;
(B) by a committee of such Disinterested Directors, even though less than a quorum of the board of directors; (C) by a written
opinion of Independent Counsel (as hereinafter defined) if (x) a Change of Control (as hereinafter defined) will have occurred
and the indemnitee so requests or (y) a quorum of the board of directors consisting of Disinterested Directors is not obtainable
or, even if obtainable, a majority of such Disinterested Directors so directs; (D) by the stockholders of the Corporation (but
only if a majority of the Disinterested Directors, if they constitute a quorum of the board of directors, presents the issue of
entitlement to indemnification to the stockholders for their determination); or (E) as provided in paragraph (c) below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to paragraph (b)(ii)
above, a majority of the Disinterested Directors will select the Independent Counsel, but only an Independent Counsel to which
the indemnitee does not reasonably object; <U>provided</U>, <U>however</U>, that if a Change of Control will have occurred, the
indemnitee will select such Independent Counsel, but only an Independent Counsel to which the board of directors does not reasonably
object.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
only basis upon which a finding that indemnification may not be made is that such indemnification is prohibited by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation will pay all costs associated with its determination of indemnitee&rsquo;s eligibility for indemnification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Presumptions
and Effect of Certain Proceedings</U>. Except as otherwise expressly provided in this <U>Section 6.1</U>, if a Change of Control
will have occurred, the indemnitee will be presumed to be entitled to indemnification under this <U>Section 6.1</U> upon submission
of a request for indemnification together with the Supporting Documentation in accordance with paragraph (b)(i), and thereafter
the Corporation will have the burden of proof to overcome that presumption in reaching a contrary determination. In any event,
if the person or persons empowered under paragraph (b)(ii) above to determine entitlement to indemnification will not have been
appointed or will not have made a determination within sixty (60) days after receipt by the Corporation of the request therefor
together with the Supporting Documentation, the indemnitee will be deemed to be entitled to indemnification and the indemnitee
will be entitled to such indemnification unless (A) the indemnitee misrepresented a material fact, or omitted a material fact necessary
to make indemnitee&rsquo;s statement not misleading, in making the request for indemnification or in the Supporting Documentation or
(B) such indemnification is prohibited by law. The termination of any Proceeding described in this <U>Section 6.1</U>, or of any
claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent,
will not, of itself, adversely affect the right of the indemnitee to indemnification or create a presumption that the indemnitee
did not act in good faith and in a manner that the indemnitee reasonably believed to be in or not opposed to the best interests
of the Corporation or, with respect to any criminal Proceeding, that the indemnitee had reasonable cause to believe that the indemnitee&rsquo;s
conduct was unlawful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Remedies
of Indemnitee.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that a determination is made pursuant to paragraph (b)(ii) that the indemnitee is not entitled to indemnification under
this <U>Section 6.1</U>: (A) the indemnitee will be entitled to seek an adjudication of his or her entitlement to such indemnification
either, at the indemnitee&rsquo;s sole option, in (x) an appropriate court of the State of Nevada or any other court of competent jurisdiction,
or (y) an arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association; (B)
any such judicial Proceeding or arbitration will be de novo and the indemnitee will not be prejudiced by reason of such adverse
determination; and (C) in any such judicial Proceeding or arbitration the Corporation will have the burden of proving that the
indemnitee is not entitled to indemnification under this <U>Section 6.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(ii) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f
a determination will have been made or is deemed to have been made, pursuant to paragraph (b)(ii) or (iii), that the indemnitee
is entitled to indemnification, the Corporation will be obligated to pay the amounts constituting such indemnification within five
(5) days after such determination has been made or is deemed to have been made and will be conclusively bound by such determination
unless (A) the indemnitee misrepresented a material fact, or omitted a material fact necessary to make indemnitee&rsquo;s statement not
misleading, in making the request for indemnification or in the Supporting Documentation, or (B) such indemnification is prohibited
by law. In the event that: (X) advancement of Expenses is not timely made pursuant to paragraph (a); or (Y) payment of indemnification
is not made within five (5) days after a determination of entitlement to indemnification has been made or deemed to have been made
pursuant to paragraph (b)(ii) or (iii), the indemnitee will be entitled to seek judicial enforcement of the Corporation&rsquo;s obligation
to pay to the indemnitee such advancement of Expenses or indemnification. Notwithstanding the foregoing, the Corporation may bring
an action, in an appropriate court in the State of Nevada or any other court of competent jurisdiction, contesting the right of
the indemnitee to receive indemnification hereunder due to the occurrence of an event described in subclause (A) or (B) of this
clause (ii) (a &ldquo;<B><I>Disqualifying Event</I></B>&rdquo;); <U>provided</U>, <U>however</U>, that in any such action the Corporation
will have the burden of proving the occurrence of such Disqualifying Event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Corporation will be precluded from asserting in any judicial Proceedings or arbitration commenced pursuant to this paragraph (d)
that the procedures and presumptions of this <U>Section 6.1</U> are not valid, binding and enforceable and will stipulate in any
such court or before any such arbitrator that the Corporation is bound by all the provisions of this <U>Section 6.1</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the indemnitee, pursuant to this paragraph (d), seeks a judicial adjudication of or an award in arbitration to enforce
his or her rights under, or to recover damages for breach of, this <U>Section 6.1</U>, the indemnitee will be entitled to recover
from the Corporation, and will be indemnified by the Corporation against, any Expenses actually and reasonably incurred by the
indemnitee if the indemnitee prevails in such judicial adjudication or arbitration. If it will be determined in such judicial adjudication
or arbitration that the indemnitee is entitled to receive part but not all of the indemnification or advancement of Expenses sought,
the Expenses incurred by the indemnitee in connection with such judicial adjudication will be prorated accordingly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
For purposes of this <U>Article VI</U>:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Change
in Control</I></B>&rdquo; means a change in control of the Corporation of a nature that would be required to be reported in response
to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act, whether or not the Corporation is then subject
to such reporting requirement; <U>provided</U> that, without limitation, such a change in control will be deemed to have occurred
if (i) any &ldquo;person&rdquo; (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the &ldquo;beneficial
owner&rdquo; (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing
twenty five percent (25%) or more of the combined voting power of the Corporation&rsquo;s then outstanding securities without the prior
approval of at least a majority of the members of the board of directors in office immediately prior to such acquisition; (ii)
the Corporation is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest, as a consequence
of which members of the board of directors in office immediately prior to such transaction or event constitute less than a majority
of the board of directors thereafter; or (iii) during any period of two (2) consecutive years, individuals who at the beginning
of such period constituted the board of directors (including for this purpose any new director whose election or nomination for
election by the Corporation&rsquo;s stockholders was approved by a vote of at least a majority of the directors then still in office
who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the board of directors;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Disinterested
Director</I></B>&rdquo; means a director of the Corporation who is not a party to the Proceeding in respect of which indemnification
or advancement of Expenses is sought by the indemnitee;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Expenses</I></B>&rdquo;
will include all direct and indirect costs including, but not limited to, attorneys&rsquo; fees, retainers, court costs, transcript costs,
fees of experts, witness fees, advisory fees, travel expenses, duplicating costs, printing and binding costs, telephone charges,
postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with investigating,
prosecuting, defending (or preparing to investigate, prosecute or defend) a Proceeding, or being or preparing to be a witness in
a Proceeding;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Independent
Counsel</I></B>&rdquo; means a law firm or a member of a law firm that neither presently is, nor in the past five (5) years has
been, retained to represent: (A) the Corporation or the indemnitee in any matter material to either such party or (B) any other
party to the Proceeding giving rise to a claim for indemnification under this <U>Section 6.1</U>. Notwithstanding the foregoing,
the term &ldquo;Independent Counsel&rdquo; will not include any person who, under the applicable standards of professional conduct
then prevailing under such persons relevant jurisdiction of practice, would have a conflict of interest in representing either
the Corporation or the indemnitee in an action to determine the indemnitee&rsquo;s rights under this <U>Section 6.1</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 101.25pt">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Official
Capacity</I></B>&rdquo; means indemnitee&rsquo;s corporate status as an officer and/or director and any other fiduciary capacity in which
indemnitee serves the Corporation, its subsidiaries or affiliates, and any other entity which indemnitee serves in such capacity
at the request of any of the Corporation&rsquo;s board of directors or any committee of its board of directors, chief executive officer,
chairman of the board of directors, or president. &ldquo;Official Capacity&rdquo; also refers to all actions which indemnitee takes
or does not take while serving in such capacity; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 103.5pt">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B><I>Proceeding</I></B>&rdquo;
includes any actual or threatened inquiry, investigation, action, suit, arbitration, or any other such actual or threatened action
or occurrence, whether civil, criminal, administrative or investigative.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Invalidity;
Severability; Interpretation</U>. If any provision or provisions of this <U>Section 6.1</U> will be held to be invalid, illegal
or unenforceable for any reason whatsoever: (i) the validity, legality and enforceability of the remaining provisions of this <U>Section
6.1</U> (including, without limitation, all portions of any paragraph of this <U>Section 6.1</U> containing any such provision
held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) will not in any way be
affected or impaired thereby; and (ii) to the fullest extent possible, the provisions of this <U>Section 6.1</U> (including, without
limitation, all portions of any paragraph of this <U>Section 6.1</U> containing any such provision held to be invalid, illegal
or unenforceable, that are not themselves invalid; illegal or unenforceable) will be construed so as to give effect to the intent
manifested by the provision held invalid, illegal or unenforceable. Reference herein to laws, regulations or agencies will be deemed
to include all amendments thereof, substitutions therefor and successors thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contractual
Rights; Applicability</U>. The right to be indemnified or to the reimbursement or advancement of Expenses pursuant hereto (i) is
a contract right based upon good and valuable consideration, pursuant to which the person entitled thereto may bring suit as if
the provisions hereof were set forth in a separate written contract between the Corporation and the director or officer, (ii) is
intended to be retroactive and will be available with respect to events occurring prior to the adoption hereof, and (iii) will
continue to exist after the rescission or restrictive modification hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>6.2 <U>Indemnification of Others</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation will have the power, to
the extent and in the manner permitted by the Nevada Revised Statutes, to indemnify each of its officers, employees and agents
(other than directors) against Expenses, judgments, fines, settlements, and other amounts actually and reasonably incurred in connection
with any Proceeding, arising by reason of the fact that such person is or was an agent of the Corporation. For purposes of this
<U>Section 6.2</U>, an officer, employee or agent of the Corporation (other than a director) includes any person (a) who is or
was an officer, employee or agent of the Corporation, (b) who is or was serving at the request of the Corporation as a director,
officer, manager, member, partner, trustee, employee or other agent of another corporation, limited liability company, partnership,
joint venture, trust or other enterprise, or (c) who was an officer, employee or agent of a corporation that was a predecessor
corporation or other entity of the Corporation or of another enterprise at the request of such predecessor corporation or entity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>6.3 <U>Insurance</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation may purchase and maintain
insurance on behalf of any person who is or was a director, officer, manager, member, partner, trustee, employee or other agent
of the Corporation, or is or was serving at the request of the Corporation as a director, officer, employee or agent of another
corporation, limited liability company, partnership, joint venture, trust or other enterprise against any liability asserted against
him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the Corporation
would have the power to indemnify him or her against such liability under the provisions of the Nevada Revised Statutes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>7.1 <U>Maintenance and Inspection of
Records</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation will, either at its principal
executive office or at such place or places as designated by the board of directors, keep a record of its stockholders listing
their names and addresses and the number and class of shares held by each stockholder, a copy of these bylaws as amended to date,
accounting books, and other records.<BR>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any stockholder of record, in person or
by attorney or other agent, will, upon written demand under oath stating the purpose thereof, have the right during the usual hours
for business to inspect for any proper purpose the Corporation&rsquo;s stock ledger, a list of its stockholders, and its other books
and records and to make copies or extracts therefrom. A proper purpose will mean a purpose reasonably related to such person&rsquo;s
interest as a stockholder. In every instance where an attorney or other agent is the person who seeks the right to inspection,
the demand under oath will be accompanied by a power of attorney or such other writing that authorizes the attorney or other agent
to so act on behalf of the stockholder. The demand under oath will be directed to the Corporation at its registered office in Nevada
or at its principal place of business.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">Any records maintained by the Corporation
in the regular course of its business, including its stock ledger, books of account, and minute books, may be kept on, or by means
of, or be in the form of, any information storage device or method, <U>provided</U> that the records so kept can be converted into
clearly legible paper form within a reasonable time. The Corporation will so convert any records so kept upon the request of any
person entitled to inspect such records pursuant to any provision of the articles of incorporation, these bylaws or the Nevada
Revised Statutes. When records are kept in such manner, a clearly legible paper form or by means of the information storage device
or method will be admissible in evidence, and accepted for all other purposes, to the same extent as an original paper record of
the same information would have been, <U>provided</U> that the paper form accurately portrays the record.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>7.2 <U>Inspection by Directors</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Any director will have the right to examine
the Corporation&rsquo;s stock ledger, a list of its stockholders, and its other books and records for a purpose reasonably related to
his or her position as a director.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.1 <U>Checks</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">From time to time, the board of directors
will determine by resolution which person or persons may sign or endorse all checks, drafts, other orders for payment of money,
notes or other evidences of indebtedness that are issued in the name of or payable to the Corporation, and only the persons so
authorized will sign or endorse those instruments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.2 <U>Execution of Corporate Contracts
and Instruments</U></B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The board of directors, except as otherwise provided in these
bylaws, may authorize any officer or officers, or agent or agents, to enter into any contract or execute any instrument in the
name of and on behalf of the Corporation; such authority may be general or confined to specific instances. Unless so authorized
or ratified by the board of directors or within the agency power of an officer, no officer, agent or employee will have any power
or authority to bind the Corporation by any contract or engagement or to pledge its credit or to render it liable for any purpose
or for any amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.3 <U>Stock Certificates</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The shares of the Corporation will be
represented by certificates, <U>provided</U> that the board of directors of the Corporation may provide by resolution or resolutions
that some or all of any or all classes or series of its stock will be uncertificated shares. Any such resolution will not apply
to shares represented by a certificate until such certificate is surrendered to the Corporation. Notwithstanding the adoption of
such a resolution by the board of directors, every holder of stock represented by certificates and upon request every holder of
uncertificated shares will be entitled to have a certificate signed by, or in the name of the Corporation by the chairman of the
board of directors, or the president or vice president, and by the treasurer or an assistant treasurer, or the secretary or an
assistant secretary of the Corporation representing the number of shares registered in certificate form. In case any officer, transfer
agent or registrar who has signed or whose facsimile signature has been placed upon a certificate has ceased to be such officer,
transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he
were such officer, transfer agent or registrar at the date of issue. The stock certificates of the Corporation will be numbered
and registered in the share ledger and transfer books of the corporation as they are issued. Any or all of the signatures on the
certificate may be a facsimile.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.4 <U>Lost Certificates</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Except as provided in this <U>Section
8.4</U>, no new certificates for shares will be issued to replace a previously issued certificate unless the latter is surrendered
to the Corporation and cancelled at the same time. The Corporation may issue a new certificate of stock or uncertificated shares
in the place of any certificate theretofore issued by it, alleged to have been lost, stolen or destroyed, and the Corporation may
require the owner of the lost, stolen or destroyed certificate, or his or her legal representative, to give the Corporation a bond
sufficient to indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of
any such certificate or the issuance of such new certificate or uncertificated shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.5 <U>Construction; Definitions</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Unless the context requires otherwise,
the general provisions, rules of construction, and definitions in the Nevada Revised Statutes will govern the construction of these
bylaws. Without limiting the generality of this provision, the singular number includes the plural, the plural number includes
the singular, the masculine includes the feminine, and the term &ldquo;person&rdquo; includes both a corporation and a natural person.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.6 <U>Dividends</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.85pt">The directors of the Corporation, subject
to any rights or restrictions contained in the articles of incorporation, may declare and pay dividends upon the shares of its
capital stock pursuant to the Nevada Revised Statutes. Dividends may be paid in cash, in property, or in shares of the Corporation&rsquo;s
capital stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The directors of the Corporation may set
apart out of any of the funds of the Corporation available for dividends a reserve or reserves for any proper purpose and may abolish
any such reserve. Such purposes will include but not be limited to equalizing dividends, repairing or maintaining any property
of the Corporation, and meeting contingencies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.7 <U>Fiscal Year</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The fiscal year of the Corporation will
end on September 30.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.8 <U>Seal</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation may adopt a corporate
seal which may be altered as desired, and may use the same by causing it or a facsimile thereof, to be impressed or affixed or
in any other manner reproduced.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.9 <U>Transfer of Stock</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">Upon surrender to the Corporation or the
transfer agent of the Corporation of a certificate for shares duly endorsed or accompanied by proper evidence of succession, assignation
or authority to transfer, it will be the duty of the Corporation to issue a new certificate to the person entitled thereto, cancel
the old certificate, and record the transaction in its books.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.10 <U>Stock Transfer Agreements and
Restrictions</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">The Corporation will have the power to
enter into and perform any agreement with any number of stockholders of any one or more classes of stock of the Corporation to
restrict the transfer of shares of stock of the Corporation of any one or more classes owned by such stockholders in any manner
not prohibited by the Nevada Revised Statutes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>8.11 <U>Electronic Transmission</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">For purposes of these bylaws, &ldquo;electronic
transmission&rdquo; means any form of communication, not directly involving the physical transmission of paper, that creates a record
that may be retained, retrieved, and reviewed by a recipient thereof, and that may be directly reproduced in paper form by such
a recipient through an automated process.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>9.1 <U>By the Stockholders</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">These bylaws may be amended, altered,
or repealed at any regular or special meeting of the stockholders if notice of the proposed alteration or amendment is contained
in the notice of the meeting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt"><B>9.2 <U>By the Board of Directors </U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.75pt">These bylaws may be amended, altered,
or repealed by the affirmative vote of a majority of the entire board of directors at any regular or special meeting of the board
of directors.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">19</P>

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

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

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