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<SEC-DOCUMENT>0001096906-06-001584.txt : 20061213
<SEC-HEADER>0001096906-06-001584.hdr.sgml : 20061213
<ACCEPTANCE-DATETIME>20061213172418
ACCESSION NUMBER:		0001096906-06-001584
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20061207
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20061213
DATE AS OF CHANGE:		20061213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Geovax Labs, Inc.
		CENTRAL INDEX KEY:			0000832489
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER & OFFICE EQUIPMENT [3570]
		IRS NUMBER:				870455038
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52091
		FILM NUMBER:		061274991

	BUSINESS ADDRESS:	
		STREET 1:		1256 BRIARCLIFF ROAD N.E.
		STREET 2:		EMTECH BIO SUITE 500
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30306
		BUSINESS PHONE:		404 727-0971

	MAIL ADDRESS:	
		STREET 1:		1256 BRIARCLIFF ROAD N.E.
		STREET 2:		EMTECH BIO SUITE 500
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DAUPHIN TECHNOLOGY INC
		DATE OF NAME CHANGE:	19940826

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUCCESSO INC
		DATE OF NAME CHANGE:	19910410
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>geovax8k120706.htm
<DESCRIPTION>GEOVAX LABS, INC. FORM 8-K DECEMBER 7, 2006
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      Geovax Labs, Inc. Form 8-K December 7, 2006
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      AND EXCHANGE COMMISSION </strong></font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
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      Exchange Act of 1934 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      2006</strong></font></div>
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      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the Registrant under any of the following
      provisions (see General Instruction A.2 below).</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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      Written communications pursuant to Rule 425 under the Securities Act (17 CFR
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      ]
      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
      CFR240.14a-12)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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      ]
      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
      Act
      (17 CFR 240.14d-2(b)).</font></div>
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      ]
      Pre-commencement communications pursuant to Rule 13e-4&#169; under the Exchange Act
      (17 CFR 240.13(e)-4(c))</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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      Form
      8-K and other reports filed by GeoVax Labs, Inc. (the &#8220;registrant&#8221;) from time to
      time with the Securities and Exchange Commission (collectively the &#8220;Filings&#8221;)
      contain forward looking statements and information that are based upon beliefs
      of, and information currently available to, the registrant's management as
      well
      as estimates and assumptions made by the registrant's management. When used
      in
      the Filings the words &#8220;anticipate&#8221;, &#8220;believe&#8221;, &#8220;estimate&#8221;, &#8220;expect&#8221;, &#8220;future&#8221;,
&#8220;intend&#8221;, &#8220;plan&#8221; or the negative if these terms and similar expressions as they
      relate to the registrant or the registrant's management identify forward looking
      statements. Such statements reflect the current view of the registrant with
      respect to future events and are subject to risks, uncertainties, assumptions
      and other factors relating to the registrant's industry, operations and results
      of operations and any businesses that may be acquired by the registrant. Should
      one or more of these risks or uncertainties materialize, or should the
      underlying assumptions prove incorrect, actual results may differ significantly
      from those anticipated, believed, estimated, expected, intended or
      planned.</font></div>
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    <div>
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          <tr valign="top" style="line-height: 1.25;">
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
                5.02</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Departure
                of Directors or Certain Officers; Election of Directors; Appointment
                of
                Certain Officers; Compensatory Arrangements of Certain
                Officers.</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      December 7, 2006 Ms. Edith Murphree and Mr. Gary Teal resigned as members of
      the
      Board of Directors of the registrant in order to eliminate any potential
      conflict with their respective positions at Emory University. Emory refrains
      from having direct representation of its interests on the board of directors
      of
      public companies.&#160; Mr. Teal was a member of the compensation committee of
      the Board of Directors; Ms. Murphree did not serve on any of the committees
      of
      the Board of Directors. Neither Ms. Murphree nor Mr. Teal resigned as a result
      of a disagreement with the registrant on any matter relating to its operations,
      policies or practices.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      December 7, 2006 the registrant&#8217;s Board of Directors appointed Mr. Robert
      McNally to the Board. Mr. McNally will serve on the Audit Committee and as
      the
      Chairperson of the Compensation Committee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dr.
      Robert McNally graduated with a Ph.D. in Biomedical Engineering from the
      University of Pennsylvania and has over 28 years of experience in academic
      and
      corporate clinical investigations, management, research, business, quality
      and
      regulatory affairs.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Since
      2000, Dr. McNally has served as CEO of Cell Dynamics LLC, a company which he
      co-founded.&#160; He also is currently serving as Cell Dynamics&#8217; VP of Quality
      Assurance.&#160; Cell Dynamics is a cGMP laboratory which contracts with organ
      and tissue procurement organizations for the recovery of human tissue and
      processes these tissues into cellular components necessary for research and
      development, pharmaceuticals and cell therapy. In 1984, Dr. McNally was
      co-founder of CryoLife, Inc., a company specializing in the cryopreservation
      of
      human tissue for transplant. During his 14 year association with CryoLife,
      it
      grew to $50MM in revenue, became a public company on NYSE and is recognized
      the
      world over as a leader in transplant technology.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dr.
      McNally is a Fellow of the American Institute of Medical and Biological
      Engineers, serves on the board of the Petit Institute for Tissue Engineering
      at
      Georgia Tech and is Past Chairman of the Georgia Biomedical Partnership and
      recipient of its 2004 Biomedical Industry Growth Award. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">There
      was
      no arrangement or understanding between Mr. McNally and any person pursuant
      to
      which he was selected as a director. Mr. McNally has not been a party to any
      transaction with us that we would be obligated to report pursuant to section
      404(a) of Regulation S-K nor has any such transaction been
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            <td style="width: 72pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
                5.03</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Amendments
                to Articles of Incorporation or Bylaws; Change in Fiscal
                Year</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">On
      December 7, 2006, the registrant&#8217;s Board of Directors amended the registrant&#8217;s
      By-laws, effective immediately. Section 13 of Article III of the By-laws was
      added to allow the Board of Directors to designate from among its members one
      or
      more standing or ad hoc committees in addition to an executive committee (the
      designation and authority of the executive committee is stated in Section 11
      of
      Article III of the By-laws). Under new Section 13 of Article III of the By-laws,
      each committee designated by the Board of Directors under that Section shall
      have the authority set forth in the resolution establishing the committee or
      in
      any other resolution of the Board of Directors specifying, enlarging or limiting
      the authority of the Committee, subject to the limitations imposed by the
      Illinois Business Corporations Act. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Additionally,
      the first sentence of Section 5 of Article III of the By-laws was amended to
      clarify the methods by which the required two days notice of special meetings
      of
      the Board of Directors may be given to directors. As amended, the By-laws state
      that notice may be given by mail, in person, by courier delivery, by telephone,
      or by e-mail, fax, or similar electronic means. Previously, directors must
      have
      been notified of a special meeting by written notice delivered to each
      director&#8217;s business address.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
      above
      summary of the amendments to the By-laws is qualified in its entirety by
      reference to the Amended By-laws, a copy of which is filed as Exhibit 3.1 to
      this Current Report on Form 8-K and is incorporated herein by reference
      thereto.</font></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Item
                9.01</strong></font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Financial
                Statements and Exhibits</strong></font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
      following exhibit is filed with this Current Report:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3.1</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">GeoVax
                Labs, Inc. By-Laws (as amended December 7,
                2006)</font></div>
            </td>
          </tr>

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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this Current Report on Form 8-K to be signed on its behalf by the
      undersigned hereunto duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Dated:
      December 13, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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            <td align="left" valign="top" width="50%">&#160;</td>
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                LABS, INC.</font></div>
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          <tr>
            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="46%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="46%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="46%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">
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            <td align="left" valign="top" width="46%">
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                Mark W.
                Reynolds&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
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            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="46%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mark
                W. Reynolds</font></div>
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            <td align="left" valign="top" width="50%">&#160;</td>
            <td align="left" valign="top" width="4%">&#160;</td>
            <td align="left" valign="top" width="46%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Chief
                Financial Officer</font></div>
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<DOCUMENT>
<TYPE>EX-3.1
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<FILENAME>geovax8k120706ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1 - GEOVAX LABS, INC. BY-LAWS (AS AMENDED DECEMBER 7, 2006)
<TEXT>
<html>
  <head>
    <title>
      Exhibit 3.1 - GeoVax Labs, Inc. By-Laws (as amended December 7, 2006)
</title>
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    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>GEOVAX
        LABS, INC.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>BY-LAWS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(As
        Amended as of December 7, 2006)</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        I</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>OFFICES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporation shall continuously maintain in the State of Illinois a registered
        office and a registered agent whose office is identical with such registered
        office, and may have other offices within or without the state. The principal
        office of the corporation shall be located in the City of Palatine, County
        of
        Cook and State of Illinois.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        II</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SHAREHOLDERS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. ANNUAL MEETING. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Annual
        meetings of the shareholders shall be held on the second Wednesday in August
        of
        each year, for the purpose of electing directors and for the transaction
        of such
        other business as may come before the meeting. If the day fixed for the annual
        meeting shall be a legal holiday, such meeting shall be held on the next
        succeeding business day.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. SPECIAL MEETINGS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Special
        meetings of the shareholders may be called either by the president and chief
        executive officer (hereinafter sometimes referred to solely as the &#8220;president&#8221;),
        the chairman of the board of directors or the holders of not less than one-fifth
        of all the outstanding shares of the corporation, for the purpose or purposes
        stated in the call of the meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. PLACE OF MEETING. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        board
        of directors may designate any place as the place of meeting for any annual
        meeting or for any special meeting called by the board of directors. If no
        designation is made, or if a special meeting be otherwise called, the place
        of
        meeting shall be at the principal office of the corporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        4. NOTICE OF MEETINGS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Written
        notice stating the place, date and hour of the meeting, and in the case of
        a
        special meeting, the purpose or purposes for which the meeting is called,
        shall
        be delivered not less than ten nor more than sixty days before the date of
        the
        meeting, or in the case of a merger or consolidation, not less than twenty
        nor
        more than sixty days before the meeting, either personally or by mail, by
        or at
        the direction of the president, the secretary or the officer or persons calling
        the meeting, to each shareholder of record entitled to vote at such meeting.
        If
        mailed, such notice shall be deemed to be delivered when deposited in the
        United
        States mail, addressed to the shareholder at his address as it appears on
        the
        records of the corporation, with postage thereon prepaid. When a meeting
        is
        adjourned to another time or place, notice need not be given of the adjourned
        meeting if the time and place thereof are announced at the meeting at which
        the
        adjournment is taken.</font></div>
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          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
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          </div>
        </div>
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          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        5. FIXING OF RECORD DATE. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">For
        the
        purpose of determining the shareholders entitled to notice of or to vote
        at any
        meeting of shareholders or any adjournment thereof, or to express consent
        to
        corporate action in writing without a meeting, or to receive payment of any
        dividend or other distribution or allotment of any rights, or to exercise
        any
        rights in respect of any change, conversion or exchange of shares or for
        the
        purpose of any other lawful action, the board of directors of the corporation
        may fix in advance a record date which shall not be more than sixty days
        and,
        for a meeting of shareholders, not less than ten days, or in the case of
        a
        merger or consolidation, not less than twenty days, before the date of such
        meeting. If no record date is fixed, the record date for the determination
        of
        shareholders entitled to notice of or to vote at a meeting of shareholders
        shall
        be the date on which notice of the meeting is mailed, and the record date
        for
        the determination of shareholders for any other purpose shall be the date
        on
        which the board of directors adopts the resolution relating thereto. A
        determination of shareholders of record entitled to notice of or to vote
        at a
        meeting of shareholders shall apply to any adjournment of the
        meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        6. VOTING LISTS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        officer or agent having charge of the transfer books for shares of the
        corporation shall make, at least ten days before each meeting of shareholders,
        a
        complete list of the shareholders entitled to vote at such meeting, arranged
        in
        alphabetical order, showing the address of and the number of shares registered
        in the name of the shareholder, which list, for a period often days prior
        to
        such meeting, shall be kept on file at the registered office of the corporation
        and shall be open to inspection by any shareholder for any purpose germane
        to
        the meeting, at any time during usual business hours. Such list shall also
        be
        produced and kept open at the time and place of the meeting and may be inspected
        by any shareholder during the whole time of the meeting. The original share
        ledger or transfer book, or a duplicate thereof kept in this State, shall
        be
        prima facie evidence as to who are the shareholders entitled to examine such
        list or share ledger or transfer book or to vote at any meeting of
        shareholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        7. QUORUM. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        holders of a majority of the outstanding shares of the corporation, present
        in
        person or represented by proxy, shall constitute a quorum at any meeting
        of
        shareholders; provided that if less than a majority of the outstanding shares
        are represented at said meeting, a majority of the shares so represented
        may
        adjourn the meeting at any time without further notice. If a quorum is present,
        the affirmative vote of the majority of the shares represented at the meeting
        shall be the act of the shareholders, unless the vote of a greater number
        or
        voting by classes is required by the Business Corporation Act, the articles
        of
        incorporation or these bylaws. At any adjourned meeting at which a quorum
        shall
        be present, any business may be transacted which might have been transacted
        at
        the original meeting. Withdrawal of shareholders from any meeting shall not
        cause failure of a duly constituted quorum at that meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        8. PROXIES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Each
        shareholder entitled to vote at a meeting of shareholders 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 proxy, but no such proxy shall
        be
        valid after eleven months from the date of its execution, unless otherwise
        provided in the proxy.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-2-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        9. VOTING OF SHARES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Each
        outstanding share, regardless of class, shall be entitled to one vote upon
        each
        matter submitted to vote at a meeting of shareholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Shares
        standing in the name of another corporation, domestic or foreign, may be
        voted
        by such officer, agent or proxy as the by-laws of such corporation may prescribe
        or, in the absence of such provision, as the board of directors of such
        corporation may determine.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Shares
        standing in the name of a deceased person, a minor ward or an incompetent
        person, may be voted by his administrator, executor, court appointed guardian
        or
        conservator, either in person or by proxy, without a transfer of such shares
        into the name of such administrator, executor, court appointed guardian or
        conservator. Shares standing in the name of a trustee may be voted by him,
        either in person or by proxy.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Shares
        standing in the name of a receiver may be voted by such receiver and shares
        held
        by or under the control of a receiver may be voted by such receiver without
        the
        transfer thereof into his name if authority so to do be contained in an
        appropriate order of the court by which such receiver was
        appointed.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        shareholder whose shares are pledged shall be entitled to vote such shares
        until
        the shares have been transferred into the name of the pledgee and thereafter
        the
        pledgee shall be entitled to vote the shares so transferred.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        number of shareholders may create a voting trust for the purpose of conferring
        upon a trustee or trustees the right to vote or otherwise represent their
        shares, for a period not to exceed ten years, by entering into a written
        voting
        trust agreement specifying the terms and conditions of the voting trust,
        and by
        transferring their shares to such trustee or trustees for the purpose of
        the
        agreement. Any such trust agreement shall not become effective until a
        counterpart of the agreement is deposited with the corporation at its registered
        office. The counterpart of the voting trust agreement so deposited with the
        corporation shall be subject to the same right of examination by a shareholder
        of the corporation, in person or by agent or attorney, as are the books and
        records of the corporation, and shall be subject to examination by any holder
        of
        a beneficial interest in the voting trust, either in person or by agent or
        attorney, at any reasonable time for any proper purpose.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Shares
        of
        its own stock belonging to this corporation shall not be voted, directly
        or
        indirectly, at any meeting and shall not be counted in determining the total
        number of outstanding shares at any given time but shares of its own stock
        held
        by it in a fiduciary capacity may be voted and shall be counted in determining
        the total number of outstanding shares at any given time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        10. INSPECTORS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">At
        any
        meeting of shareholders, the presiding officer may, or upon the request of
        any
        shareholder shall, appoint one or more persons as inspectors for such
        meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-3-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Such
        inspectors shall ascertain and report the number of shares represented at
        the
        meeting, based upon their determination of the validity and effect of proxies,
        count all votes and report the results and do such other acts as are proper
        to
        conduct the election and voting with impartiality and fairness to all
        shareholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Each
        report of an inspector shall be in writing and signed by him or by a majority
        of
        them if there be more than one inspector acting at such meeting. If there
        is
        more than one inspector, the report of a majority shall be the report of
        the
        inspectors. The report of the inspector or inspectors on the number of shares
        represented at the meeting and the results of the voting shall be prima facie
        evidence thereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        11. INFORMAL ACTION BY SHAREHOLDERS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        action required to be taken at a meeting of the shareholders, or any other
        action which may be taken at a meeting of the shareholders, may be taken
        without
        a meeting if a consent in writing, setting forth the action so taken, shall
        be
        signed by (a) all of the shareholders entitled to vote with respect to the
        subject matter thereof, (b) by the holders of outstanding shares 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 voting (if 5 days prior written notice of the proposed action
        is
        given in writing to all shareholders entitled to vote with respect to the
        subject matter thereof). Prompt notice of the taking of the corporate action
        without a meeting by less than unanimous written consent shall be given in
        writing to those shareholders who have not consented in writing.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        12. VOTING BY BALLOT. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Voting
        on
        any question or in any election may be by voice unless the presiding officer
        shall order or any shareholder shall demand that voting be by
        ballot.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        13. CORPORATE RECORDS - EXAMINATION BY SHARE-HOLDERS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporation shall keep correct and complete books and records of account
        and
        shall also keep minutes of the proceedings of its shareholders and Board
        of
        Directors and committees thereof. The corporation also shall keep at its
        registered office or principal place of business in this State, or at the
        office
        of a transfer agent or registrar in this State, a record of its shareholders,
        giving the names and addresses of all shareholders and the number and class
        of
        shares held by each.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        person who is a shareholder of record of this corporation shall have the
        right
        to examine, in person or by agent, at any reasonable time or times, the
        corporation&#8217;s books and records of account, minutes, voting trust agreements
        filed with the corporation, and the record of shareholders, and to make extracts
        therefrom, but only for a proper purpose. In order to exercise this right,
        a
        shareholder must make written demand upon the corporation, stating with
        particularity the records sought to be examined and the purpose
        therefor.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Upon
        the
        written request of any shareholder of this corporation, the corporation shall
        mail to such shareholder within 14 days after receipt of such request a balance
        sheet as of the close of its latest fiscal year and a profit and loss statement
        for such fiscal year; provided that if such request is received by the
        corporation before such financial statements are available, the corporation
        shall mail such financial statements within 14 days after they become available,
        but in any event within 120 days after the close of its latest fiscal
        year.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-4-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
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          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        III</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>DIRECTORS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. GENERAL POWERS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        business of the corporation shall be managed by its board of
        directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. NUMBER, TENURE AND QUALIFICATIONS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        number of directors of the corporation shall be fixed from time to time by
        the
        board of directors, but shall be not less than three nor more than nine.
        The
        directors shall hold office until the next annual meeting of shareholders
        or
        until their successors shall have been elected and qualified. The directors
        need
        not be residents of Illinois or shareholders of the corporation. The number
        of
        directors may be increased or decreased from time to time by the amendment
        of
        this section; but no decrease shall have the effect of shortening the term
        of
        any incumbent director.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. REGULAR MEETINGS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        regular
        meeting of the board of directors shall be held without other notice than
        this
        by-law, immediately after the annual meeting of shareholders. The board of
        directors may provide, by resolution, the time and place for holding of
        additional regular meetings without other notice than such
        resolution.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        4. SPECIAL MEETINGS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Special
        meetings of the board of directors may be called by or at the request of
        the
        president, the chairman of the board of directors or any two directors. The
        person or persons authorized to call special meetings of the board of directors
        may fix any place as the place for holding any special meeting of the board
        of
        directors called by them.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        5. NOTICE. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Notice
        of
        any special meeting shall be given at least two days previous thereto by
        mail,
        in person, by courier delivery, by telephone, or by e-mail, fax or similar
        electronic means. If mailed, such notice shall be deemed to be delivered
        when
        deposited in the United States mail so addressed, with postage thereon prepaid.
        If notice be given by telegram, such notice shall be deemed to be delivered
        when
        the telegram is delivered to the telegram company. The attendance of a director
        at any meeting shall constitute a waiver of notice of such meeting, except
        where
        a director attends a meeting for the express purpose of objecting 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 board of directors need be specified in
        the
        notice or waiver of notice of such meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        6. QUORUM. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        majority of the number of directors fixed by these by-laws shall constitute
        a
        quorum for transaction of business at any meeting of the board of directors,
        provided that if less than a majority of such number of directors are present
        at
        said meeting, a majority of the directors present may adjourn the meeting
        at any
        time without further notice.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        7. MANNER OF ACTING. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        act
        of the majority of the directors present at a meeting at which a quorum is
        present shall be the act of the board of directors, unless the act of a greater
        number is required by the Business Corporation Act, articles of incorporation
        or
        these by-laws.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-5-</font></div>
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        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        8. ACTION WITHOUT A MEETING. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Unless
        specifically prohibited by the Business Corporation Act, articles of
        incorporation or by-laws, any action required to be taken at a meeting of
        the
        board of directors, or any other action which may be taken at a meeting of
        the
        board of directors or of any committee thereof, may be taken without a meeting
        if a consent in writing, setting forth the action so taken, shall be signed
        by
        all the directors entitled to vote with respect to the subject matter thereof,
        or by all the members of such committee, as the case may be. Any such consent
        signed by all the directors or all the members of the committee shall have
        the
        same effect as a unanimous vote and may be stated as such in any document
        filed
        with the Secretary of State or with anyone else. The consent shall be evidenced
        by one or more written approvals, each of which sets forth the action taken
        and
        bears the signature of one or more directors. All approvals evidencing the
        consent shall be delivered to the secretary to be filed in the corporate
        records. The action taken shall be effective when all directors have approved
        the consent unless the consent specifies a different effective
        date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        9. COMPENSATION. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        board
        of directors, by the affirmative vote of a majority of directors then in
        office,
        and irrespective of any personal interest of any of its members, shall have
        authority to establish reasonable compensation of all directors for services
        to
        the corporation as directors, officers, or otherwise. By resolution of the
        board
        of directors the directors may be paid their expenses, if any, of attendance
        at
        each meeting of the board. No such payment previously mentioned in this section
        shall preclude any director from serving the corporation in any other capacity
        and receiving compensation therefor.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        10. PRESUMPTION OF ASSENT. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        director of the corporation who is present at a meeting of the board of
        directors at which action on any corporate matter is taken shall be conclusively
        presumed to have assented to the action taken unless his dissent shall be
        entered in the minutes of the meeting or unless he shall file his written
        dissent to such action with the person acting as the secretary of the meeting
        before the adjournment thereof or shall forward such dissent by registered
        mail
        to the secretary of the corporation immediately after the adjournment of
        the
        meeting. Such right to dissent shall not apply to a director who voted in
        favor
        of such action.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        11. EXECUTIVE COMMITTEE. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        board
        of directors by resolution adopted by a majority of the whole board may
        designate two or more directors to constitute an executive committee. The
        designation of such committee and the delegation thereto of authority shall
        not
        operate to relieve the board of directors or any member thereof of any
        responsibility imposed upon it or him or her by law.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        executive committee, when the board of directors is not in session, shall
        have
        and exercise all of the authority of the board of directors in the management
        of
        the corporation, except to the extent, if any, that such authority shall
        be
        limited by the resolution appointing the executive committee and except also
        that the executive committee shall not have the authority of the board of
        directors in reference to the following, to wit:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
        <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

            <tr valign="top" style="line-height: 1.25;">
              <td style="width: 72pt;">&#160;</td>
              <td style="width: 36pt;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">a.</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">amending
                  the articles of incorporation;</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">b.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">adopting
        a plan of merger or adopting a plan of consolidation with another corporation
        or
        corporations;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-6-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">c.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">recommending
        to the shareholders the sale, lease, exchange, mortgage, pledge or other
        disposition of all or substantially all of the property and assets of the
        corporation, if not made in the usual and regular course of its
        business;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">d.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">recommending
        to the shareholders a voluntary dissolution of the corporation or a revocation
        thereof;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">e.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">amending,
        altering or repealing the by-laws of the corporation;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">f.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">electing
        or removing officers of the corporation or members of the executive
        committee;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">g.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">fixing
        the compensation of any member of the executive committee;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">h.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">declaring
        dividends; or</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">i.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
</font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">amending,
        altering or repealing any resolution of the board of directors which by its
        terms provides that it shall not be amended, altered or repealed by the
        executive committee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Each
        member of the executive committee shall hold office until the next regular
        annual meeting of the directors following his designation and until his
        successor as a member of the executive committee is elected and qualified.
        Members of the executive committee must at all times be directors of the
        corporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Regular
        meetings of the executive committee may be held without notice at such times
        and
        places as the executive committee may fix from time to time by resolution.
        Special meetings of the executive committee may be called by any member thereof
        upon not less than one day&#8217;s notice stating the place, date and hour of the
        meeting, which notice may be written or oral and, if mailed, shall be deemed
        to
        be delivered when deposited in the United States mail addressed to the member
        of
        the executive committee at his business address. Any member of the executive
        committee may waive notice of any meeting and no notice of any meeting need
        be
        given to any member thereof who attends in person. The notice of a meeting
        of
        the executive committee need not state the business proposed to be transacted
        at
        the meeting.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        majority of the members of the executive committee shall constitute a quorum
        for
        the transaction of business at any meeting thereof and action of the executive
        committee must be authorized by the affirmative vote of a majority of the
        members present at a meeting at which a quorum is present.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        vacancy in the executive committee may be filled by a resolution adopted
        by a
        majority of the whole board of directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        member of the executive committee may be removed at any time with or without
        cause by resolution adopted by a majority of the whole board of directors.
        Any
        member of the executive committee may resign from the executive committee
        at any
        time by giving written notice to the president or secretary of the corporation
        and unless otherwise specified therein, the acceptance of such resignation
        shall
        not be necessary to make it effective.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-7-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        executive committee shall elect a presiding officer from its members and
        may fix
        its own rules of procedure which shall not be inconsistent with these by-laws.
        It shall keep regular minutes of its proceedings and report the same to the
        board of directors for its information only at the meeting thereof held next
        after the proceedings shall have been taken.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        12. ATTENDANCE BY CONFERENCE TELEPHONE. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mem-bers
        of the board of directors or of any committees of the board of directors
        may
        participate in and act at any meeting of such board or committee through
        the use
        of a conference telephone or other communications equipment by means of which
        all persons participating in the meeting can hear each other; provided that
        a
        majority of such members consent in writing to the recording of such
        communications and provided that such recording is in fact made and becomes
        a
        part of the official corporate records. Participation in such a meeting shall
        constitute attendance and presence in person at the meeting of the person
        or
        persons so participating for all purposes including fulfilling the requirements
        of Sections 6 and 7 hereof.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        13. OTHER COMMITTEES.</strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">
        In
        addition to an executive committee, the board of directors may designate
        from
        among its members one or more other standing or ad hoc committees, each
        consisting of one or more directors, who shall serve at the pleasure of the
        board of directors. Subject to the limitations imposed by the Illinois Business
        Corporation Act, each committee shall have the authority set forth in the
        resolution establishing the committee or in any other resolution of the board
        of
        directors specifying, enlarging or limiting the authority of the
        committee.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        IV</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>OFFICERS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. NUMBER. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        officers of the corporation shall be a chairman of the board, a president
        and
        chief executive officer, an assistant to the president, one or more
        vice-presidents, a treasurer, a secretary, and such other officers as may
        be
        elected or appointed by the board of directors. Any two or more offices may
        be
        held by the same person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. ELECTION AND TERM OF OFFICE. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        officers of the corporation shall be elected annually by the board of directors
        at the first meeting of the board of directors held after each annual meeting
        of
        shareholders. If the election of officers shall not be held at such meeting,
        such election shall be held as soon thereafter as conveniently may be. Vacancies
        may be filled or new offices created and filled at any meeting of the board
        of
        directors. Each officer shall hold office until his successor shall have
        been
        duly elected and shall have qualified, or until his death or until he shall
        resign or shall have been removed in the manner hereinafter provided. Election
        of any officer shall not of itself create contract rights.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. REMOVAL. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        officer elected or appointed by the board of directors may be removed by
        the
        board of directors whenever, in its judgment, the best interests of the
        corporation would be served thereby but such removal shall be without prejudice
        to the contract rights, if any, of the person so removed.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-8-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        4. VACANCIES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">A
        vacancy
        in any office because of death, resignation, removal, disqualification or
        otherwise may be filled by the board of directors for the unexpired portion
        of
        the term.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        5. CHAIRMAN OF THE BOARD. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        chairman shall serve as chairman of the board of directors and shall preside
        at
        all meetings of the board of directors and of the shareholders. He shall
        have
        and perform such other duties as may from time to time be assigned to him
        by the
        board of directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        6. PRESIDENT AND CHIEF EXECUTIVE OFFICER. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        president and chief executive officer shall be the chief policymaking officer
        of
        the corporation, and shall be the supreme officer of the corporation in the
        general supervision, direction and active management of the business of the
        corporation, and shall have direction over the general policies and affairs
        of
        the corporation and of compliance with the requirements of the by-laws and
        resolutions and directions of the Board of Directors, subject to the control
        and
        direction of the Board of Directors. Except in those instances in which the
        authority to execute is expressly delegated to another officer or agent of
        the
        corporation or a different mode of execution is expressly prescribed by the
        board of directors or by these by-laws, he may execute for the corporation
        certificates for its shares, and any contract, deeds, mortgages, bonds, and
        other instruments which the board of directors has authorized to be executed,
        and he may accomplish such execution either under or without the seal of
        the
        corporation and either individually or with the secretary, any assistant
        secretary, or any other officer thereunto authorized by the board of directors,
        according to the requirements of the form of the instruments. He may vote
        all
        securities which the corporation is entitled to vote except as and to the
        extent
        such authority shall be vested in a different officer or agent of the
        corporation by the board of directors. Unless otherwise provided by resolutions
        of the board of directors, the president and chief executive officer shall
        have
        sole and exclusive authority to enter into contracts and commitments on behalf
        of the corporation and by this by-law, he is expressly authorized to execute
        any
        contract or document which by law or otherwise contemplates the execution
        by the
        president of the corporation and, without limiting the generality of the
        foregoing, may on behalf of the corporation, execute as president and chief
        executive officer corporate certificates for its shares, warrants and options
        for its shares, and any contracts, deeds, mortgages, bonds or other instruments
        which require the execution by an officer of the corporation and he may
        accomplish such execution either under or without the seal of corporation,
        and
        either individually or with the secretary, any assistant secretary, or any
        officer as he designates. In the absence of the chairman of the board, he
        shall
        preside as chairman at all meetings of the shareholders and board of
        directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        7. ASSISTANT TO THE PRESIDENT. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        assistant to the president shall perform such duties as the president may
        direct
        from time to time.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        8. THE VICE PRESIDENTS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        vice-president (or in the event there be more than one vice-president, each
        of
        the vice-presidents) shall assist the president and chief executive officer
        in
        the discharge of his duties as the president and chief executive officer
        may
        direct and shall perform such other duties as from time to time may be assigned
        to him by the president and chief executive officer or by the chairman of
        the
        board of directors. Except in those instances in which the authority to execute
        is expressly delegated to another officer or agent of the corporation or
        a
        different mode of execution is expressly prescribed by the board of directors
        or
        these by-laws, the vice-president (or each of them if there are more than
        one)
        may execute for the corporation certificates for its shares and any contracts,
        deeds, mortgages, bonds or other instruments which the board of directors
        has
        authorized to be executed, and he may accomplish such execution either under
        or
        without the seal of the corporation and either individually or with the
        secretary, any assistant secretary or any other officer thereunto authorized
        by
        the board of directors, according to the requirements of the form of the
        instrument.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-9-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        9. THE TREASURER. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        treasurer shall be the principal accounting and financial officer of the
        corporation. He shall: (a) have charge of and be responsible for the maintenance
        of adequate books of account for the corporation; (b) have charge and custody
        of
        all funds and securities of the corporation, and be responsible therefor
        and for
        the receipt and disbursement thereof; and (c) perform all the duties incident
        to
        the office of treasurer and such other duties as from time to time may be
        assigned to him by the president or by the board of directors. If required
        by
        the board of directors, the treasurer shall give a bond for the faithful
        discharge of his duties in such sum and with such surety or sureties as the
        board of directors may determine.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        10. THE SECRETARY. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        secretary shall: (a) record the minutes of the shareholders&#8217; and of the board of
        directors&#8217; meetings in one or more books provided for that purpose; (b) see that
        all notices are duly given in accordance with the provisions of these by-laws
        or
        as required by law; (c) be custodian of the corporate records and of the
        seal of
        the corporation; (d) keep a register of the post-office address of each
        shareholder which shall be furnished to the secretary by such shareholder;
        (e)
        sign with the president, or a vice-president, or any other officer thereunto
        authorized by the board of directors, certificates for shares of the
        corporation, the issue of which shall have been authorized by the board of
        directors, and any contracts, deeds, mortgages, bonds or other instruments
        which
        the board of directors has authorized to be executed, according to the
        requirements of the form of the instrument, except when a different mode
        of
        execution is expressly prescribed by the board of directors or these by-laws;
        (f) have general charge of the stock transfer books of the corporation; and
        (g)
        perform all duties incident to the office of secretary and such other duties
        as
        from time to time may be assigned to him by the president or by the board
        of
        directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        11. ASSISTANT TREASURERS AND ASSISTANT SECRE-TARIES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        assistant treasurers and assistant secretaries shall perform such duties
        as
        shall be assigned to them by the treasurer or the secretary, respectively,
        or by
        the president or the board of directors. The assistant secretaries may sign
        with
        the president, or a vice-president, or any other officer thereunto authorized
        by
        the board of directors, certificates for shares of the corporation, the issue
        of
        which shall have been authorized by the board of directors, and any contracts,
        deeds, mortgages, bonds, or other instruments which the board of directors
        has
        authorized to be executed, according to the requirements of the form of the
        instrument, except when a different mode of execution is expressly prescribed
        by
        the board of directors or these by-laws. The assistant treasurers shall
        respectively, if required by the board of directors, give bonds for the faithful
        discharge of their duties in such sums and with such sureties as the board
        of
        directors shall determine.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-10-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        12. SALARIES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        salaries of the officers shall be fixed from time to time by the board of
        directors and no officer shall be prevented from receiving such salary by
        reason
        of the fact that he is also a director of the corporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        V</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CONTRACTS,
        LOANS, CHECKS AND DEPOSITS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. CONTRACTS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        board
        of directors may authorize any officer or officers, agent or agents, to enter
        into any contract or execute and deliver any instrument in the name of and
        on
        behalf of the corporation, and such authority may be general or confined
        to
        specific instances.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. LOANS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">No
        loans
        shall be contracted on behalf of the corporation and no evidences of
        indebtedness shall be issued in its name unless authorized by a resolution
        of
        the board of directors, and such authority may be general or confined to
        specific instances.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. CHECKS, DRAFTS, ETC. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">All
        checks, drafts or other orders for the payment of money, notes or other
        evidences of indebtedness issued in the name of the corporation, shall be
        signed
        by such officer or officers, agent or agents of the corporation and in such
        manner as shall from time to time be determined by resolution of the board
        of
        directors.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        4. DEPOSITS. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">All
        funds
        of the corporation not otherwise employed shall be deposited from time to
        time
        to the credit of the corporation in such banks, trust companies or other
        depositories as the board of directors may select.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        VI</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CERTIFICATES
        FOR SHARES AND THEIR TRANSFER</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. CERTIFICATES FOR SHARES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Certificates
        representing shares of the corporation shall be signed by the president and
        chief executive officer or a vice-president or by such officer as shall be
        designated by resolution of the board of directors and by the secretary or
        an
        assistant secretary, and shall be sealed with the seal or a facsimile of
        the
        seal of the corporation. If both of the signatures of the officers be by
        facsimile, the certificate shall be manually signed by or on behalf of a
        duly
        authorized transfer agent or clerk. Each certificate representing shares
        shall
        be consecutively numbered or otherwise identified, and shall also state the
        name
        of the person to whom issued, the number and class of shares (with designation
        of series, if any), the date of issue, that the corporation is organized
        under
        Illinois law, and the par value or a statement that the shares are without
        par
        value. If the corporation is authorized and does issue shares of more than
        one
        class or of a series within a class, the certificate shall also contain such
        information or statement as may be required by law.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-11-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        name
        and address of each shareholder, the number and class of shares held and
        the
        date on which the certificates for the shares were issued shall be entered
        on
        the books of the corporation. The person in whose name shares stand on the
        books
        of the corporation shall be deemed the owner thereof for all purposes as
        regards
        the corporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. LOST CERTIFICATES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">If
        a
        certificate representing shares has allegedly been lost or destroyed, the
        board
        of directors may in its discretion, except as may be required by law, direct
        that a new certificate be issued upon such indemnification and other reasonable
        requirements as it may impose.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. TRANSFER OF SHARES. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Transfers
        of shares of the corporation shall be recorded on the books of the corporation
        and, except in the case of a lost or destroyed certificate, shall be made
        on
        surrender for cancellation of the certificate for such shares. A certificate
        presented for transfer must be duly endorsed and accompanied by a proper
        guaranty of signature and other appropriate assurances that the endorsement
        is
        effective.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        VII</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FISCAL
        YEAR</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        fiscal year of the corporation shall begin on the first day of January in
        each
        year and end on the thirty-first day of December in each year.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        VIII</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>DISTRIBUTIONS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        board
        of directors may from time to time declare, and the corporation may pay,
        distributions (dividends, redemptions and other transfers of money or property)
        to its shareholders on its outstanding shares in the manner and upon the
        terms
        and conditions provided by law and its articles of incorporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        IX</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SEAL</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporate seal shall have inscribed thereon &#8220;Geovax Labs, Inc.&#8221; the words
&#8220;Corporate Seal, Illinois&#8221;, or merely the latter words. The seal may be used by
        causing it or a facsimile thereof to be impressed or affixed or in any manner
        reproduced.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        X</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>WAIVER
        OF NOTICE</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Whenever
        any notice is required to be given under the provisions of these by-laws,
        under
        the provisions of the articles of incorporation or under the provisions of
        the
        Business Corporation Act, a waiver thereof in writing, signed by the person
        or
        persons entitled to such notice, whether before or after the time stated
        therein, shall be deemed equivalent to the giving of such notice.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-12-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        XI</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>AMENDMENTS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        power
        to make, alter, amend, or repeal the by-laws of the corporation and to adopt
        new
        by-laws shall be vested in the shareholders or the board of directors. The
        by-laws may contain any provisions for the regulation and management of the
        affairs of the corporation not inconsistent with law or the articles of
        incorporation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>ARTICLE
        XII</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>INDEMNIFICATION
        OF OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        1. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporation shall indemnify any person who was or is a party, or is threatened
        to be made a party to any threatened, pending or completed action, suit or
        proceeding, whether civil, criminal, administrative or investigative (other
        than
        an action by or in the right of the corporation) by reason of the fact that
        he
        is or was a director, officer, employee or agent of the corporation or fiduciary
        of any employee benefit plan maintained by the corporation, or who is or
        was a
        director, officer, employee or agent of the corporation or a fiduciary as
        aforesaid, or who is or was serving at the request of the corporation as
        a
        director, officer, employee, agent or fiduciary of another corporation,
        partnership, joint venture, trust or other enterprise, against expenses
        (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement
        actually and reasonably incurred by him in connection with such action, suit
        or
        proceeding, if he acted in good faith and in a manner he reasonably believed
        to
        be in, or not opposed to, the best interests of the corporation (or, in the
        case
        of a fiduciary, the best interests of the plan and plan participants) and,
        with
        respect to any criminal action or proceeding, had no reasonable cause to
        believe
        his conduct was unlawful. The termination of any action, suit or proceeding
        by
        judgment, order, settlement, conviction, or upon a plea of nolo contendere
        or
        its equivalent, shall not, of itself, create a presumption that the person
        did
        not act in good faith and in a manner which he reasonably believed to be
        in or
        not opposed to the best interests of the corporation and, with respect to
        any
        criminal action or proceeding, had reasonable cause to believe that this
        conduct
        was unlawful.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        2. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporation shall indemnify any person who was or is a party, or is threatened
        to be made a party to any threatened, pending or completed action or suit
        by or
        in the right of the corporation to procure a judgment in its favor by reason
        of
        the fact that he is or was a director, officer, employee or agent of the
        corporation or fiduciary as aforesaid, or is or was serving at the request
        of
        the corporation as a director, officer, employee or agent of another
        corporation, partnership, joint venture, trust or other enterprise, against
        expenses (including attorneys&#8217; fees) actually and reasonably incurred by him in
        connection with the defense or settlement of such action or suit, if he acted
        in
        good faith and in a manner he reasonably believed to be in, or not opposed
        to
        the best interests of the corporation (or, in the case of a fiduciary, the
        best
        interests of the plan and plan participants), except that no indemnification
        shall be made in respect of any claim, issue or matter as to which such person
        shall have been adjudged to be liable for negligence or misconduct in the
        performance of his duty to the corporation, unless, and only to the extent
        that
        the court in which such action or suit was brought shall determine upon
        application that, despite the adjudication of liability, but in view of all
        the
        circumstances of the case, such person is fairly and reasonably entitled
        to
        indemnity for such expenses as the court shall deem proper.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-13-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        3. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">To
        the
        extent that a director, officer, employee or agent of a corporation or fiduciary
        as aforesaid has been successful, on the merits or otherwise, in the defense
        of
        any action, suit or proceeding referred to in the preceding sections, or
        in
        defense of any claim, issue or matter therein, he shall be indemnified against
        expenses (including attorneys&#8217; fees) actually and reasonably incurred by him in
        connection therewith.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        4. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Any
        indemnification under sections 1 and 2 hereof (unless ordered by a court)
        shall
        be made by the corporation only as authorized in the specific case, upon
        a
        determination that indemnification of the director, officer, employee, agent
        or
        fiduciary is proper in the circumstances because he has met the applicable
        standard of conduct set forth in said sections. Such determination shall
        be made
        (1) by the board of directors by a majority vote of a quorum consisting of
        directors who were not parties to such action, suit or proceeding, or (2)
        if
        such a quorum is not obtainable, or, even if obtainable, a quorum of
        disinterested directors so directs, by independent legal counsel in a written
        opinion, or (3) by the shareholders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        5. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Expenses
        incurred in defending a civil or criminal action, suit or proceeding may
        be paid
        by the corporation in advance of the final disposition of such action, suit
        or
        proceeding, as authorized by the board of directors in the specific case,
        upon
        receipt of an undertaking by or on behalf of the director, officer, employee
        or
        agent to repay such amount unless it shall ultimately be determined that
        he is
        entitled to be indemnified by the corporation as authorized in this
        Article.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        6. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        indemnification provided by this Article shall not be deemed exclusive of
        any
        other rights to which those seeking indemnification may be entitled under
        any
        by-law, agreement, vote of shareholders or disinterested directors, or
        otherwise, both as to action in his official capacity and as to action in
        another capacity while holding such office, and shall continue as to a person
        who has ceased to be a director, officer, employee or agent, and shall inure
        to
        the benefit of the heirs, executors and administrators of such a
        person.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        7. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The
        corporation may purchase and maintain insurance on behalf of any person who
        is
        or was a director, officer, employee or agent of the corporation or fiduciary,
        or who is or was serving at the request of the corporation as a director,
        officer employee, agent or fiduciary of another corporation, partnership,
        joint
        venture, trust or other enterprise, against any liability asserted against
        him
        and incurred by him in any such capacity, or arising out of his status as
        such,
        whether or not the corporation would have the power to indemnify him against
        such liability under the provisions of this Article.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        8. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In
        the
        case of a merger, the term &#8220;corporation&#8221; shall include, in addition to the
        surviving corporation, any merging corporation absorbed in a merger, which
        if
        its separate existence had continued, would have had the power and authority
        to
        indemnify its directors, officers, and employees or agents, so that any person
        who was a director, officer, employee or agent of such merging corporation,
        or
        was serving at the request of another corporation, as a director, officer,
        employee, or agent of another corporation, partnership, joint venture, trust
        or
        other enterprise, shall stand in the same position under the provisions of
        this
        section with respect to the surviving corporation as such person would have
        with
        respect to such merging if its separate existence had continued.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: ">-14-</font></div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>SECTION
        9. </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">For
        purposes of this Article, references to &#8220;other enterprises&#8221; shall include
        employee benefit plans; reference to &#8220;fines&#8221; shall include any excise tax
        assessed on a person with respect to an employee benefit plan; and references
        to
        the phrase &#8220;serving at the request of the corporation&#8221; shall include any service
        as a director, officer, employee or agent of the corporation which imposes
        duties on, or involves services by such director, officer, employee, or agent
        with respect to an employee benefit plan, its participants, or beneficiaries.
        A
        person who acted in good faith and in a manner he or she reasonably believed
        to
        be in the best interests of the participants and beneficiaries of an employee
        benefit plan shall be deemed to have acted in a manner &#8220;not opposed to the best
        interest of the corporation&#8221; as referred to in this Article.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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