<SUBMISSION>
<ACCESSION-NUMBER>0001104659-07-014455
<TYPE>S-8
<PUBLIC-DOCUMENT-COUNT>5
<FILING-DATE>20070227
<DATE-OF-FILING-DATE-CHANGE>20070227
<EFFECTIVENESS-DATE>20070227
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ADAM INC
<CIK>0000863650
<ASSIGNED-SIC>7372
<IRS-NUMBER>581878070
<STATE-OF-INCORPORATION>GA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>S-8
<ACT>33
<FILE-NUMBER>333-140926
<FILM-NUMBER>07653982
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1600 RIVEREDGE PARKWAY
<STREET2>STE 800
<CITY>ATLANTA
<STATE>GA
<ZIP>30328
<PHONE>7709800888
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1600 RIVEREDGE PKWY
<STREET2>STE 800
<CITY>ATLANTA
<STATE>GA
<ZIP>30328
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>A D A M SOFTWARE INC
<DATE-CHANGED>19950919
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>a07-4347_1s8.htm
<DESCRIPTION>S-8
<TEXT>
<html>

<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><a name="scotch"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed with the Securities and Exchange Commission on February 27, 2007</font></b></a></p> <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p align="right" style="border:none;margin:0pt 0pt 12.0pt;padding:0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Registration No. 333- &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p> </div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington,
D.C. 20549</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM S-8</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">REGISTRATION STATEMENT</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">UNDER</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">THE SECURITIES ACT OF 1933</font></b></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">A.D.A.M., Inc.</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">(Exact name of registrant as
specified in its charter)</font></b></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Georgia</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">58-1878070</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">incorporation or
  organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">identification
  no.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1600
RiverEdge Parkway, Suite 100</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Atlanta,
Georgia&#160; 30328-4696</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices) (Zip code)</font></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">A.D.A.M., Inc. 2002 Stock Incentive
Plan</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Full title of the plan)</font></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading -->(Name, Address and Telephone
  Number, Including Area Code, of Agent For Service)</p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Copy
  to:</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Kevin S. Noland<br>
  President and Chief Executive Officer<br>
  A.D.A.M., Inc.<br>
  1600 RiverEdge Parkway, Suite 100<br>
  Atlanta, Georgia 30328-4696<br>
  (770) 980-0888</font></b></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Jason
  C. Harmon, Esquire<br>
  DLA Piper US LLP<br>
  6225 Smith Avenue<br>
  Baltimore, Maryland 21209-3600<br>
  (410)&nbsp;580-3000</font></b></p>
  </td>
 </tr>
</table>

<div style="line-height:9.0pt;margin:12.0pt 0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="margin:0pt 36.0pt 12.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This registration statement
shall hereafter become effective in accordance with Rule 462 promulgated under the
Securities Act of 1933, as amended.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CALCULATION
OF REGISTRATION FEE</font></b></p>

<div align="center">

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="31%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:31.04%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b><font size="1" style="font-size:8.0pt;font-weight:bold;">Title&nbsp;of&nbsp;Securities&nbsp;to&nbsp;be&nbsp;registered(1)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount&nbsp;to&nbsp;be<br>
  registered(2)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.3%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed<br>
  maximum<br>
  offering&nbsp;price<br>
  per&nbsp;share(3)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:16.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Proposed<br>
  maximum<br>
  aggregate<br>
  offering&nbsp;price(3)</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.88%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Amount&nbsp;of<br>
  registration&nbsp;fee</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:31.04%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.D.A.M., Inc. 2002 Stock Incentive Plan Common
  Stock Par Value $0.01</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.32%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">185,830</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.3%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$6.30</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:16.32%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$1,170,729</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:1.54%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="15%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt .7pt 0pt .7pt;width:15.88%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$35.94</font></p>
  </td>
 </tr>
</table>

</div>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The securities to be
registered include options and rights to acquire such Common Stock.</p>

<p style="font-size:10.0pt;margin:0pt 0pt .0001pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pursuant to Rule
416(a) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
this registration statement also covers any additional securities that may be
offered or issued in connection with any stock split, stock dividend or similar
transaction.</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Estimated
pursuant to Rule 457 under the Securities Act solely for purposes of
calculating the registration fee. As to the shares under the 2002 Stock
Incentive Plan, the price is based upon the average of the high and low prices
of the Common Stock on February 23, 2007, as reported on the National
Association of Securities Dealers Automated Quotations System.</p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\5855510475_D11431_1776075\4347-1-ba.htm',USER='jmsproofassembler',CD='Feb 27 05:55 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">PART II<a name="PartIi_183709"></a></font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</font></u></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 3.</font></u>&nbsp;<u>Incorporation
of Documents by Reference<a name="Item3_IncorporationOfDocumentsByR_183733"></a></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.D.A.M., Inc. (the &#147;Company&#148;)
hereby incorporates by reference in this registration statement the following
documents:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company&#146;s annual report on Form
10-KSB filed pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act
of 1934, as amended (the &#147;Exchange Act&#148;), containing audited financial
statements for the Company&#146;s two fiscal years-ended December 31, 2005, as filed
with the Securities and Exchange Commission on March 31, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company&#146;s Current Report on Form
8-K, as amended, filed with the Securities and Exchange Commission on August
16, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All other reports filed pursuant to
Section 13(a) or 15(d) of the Exchange Act since the end of the fiscal year
covered by the document referred to in (a) above.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company&#146;s Registration Statement
on Form 8-A, as filed with the Securities and Exchange Commission on October
11, 1995, to register the Company&#146;s $0.01 par value Common Stock under Section
12(b) of the Exchange Act which Registration Statement contains a description
of the Common Stock.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e) &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All documents subsequently filed by
the Company pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange
Act, prior to the filing of a post-effective amendment to this registration
statement which indicates that all securities offered hereby have been sold or
which deregisters all securities remaining unsold, shall be deemed to be
incorporated by reference in this registration statement and to be a part
hereof from the date of filing of such documents.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 4.</font></u>&nbsp;<u>Description
of Securities</u><a name="Item4_DescriptionOfSecurities_183735"></a></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The class of securities
to be offered is registered under Section 12 of the Exchange Act.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 5.</font></u>&nbsp;<u>Interests
of Named Experts and Counsel<a name="Item5_InterestsOfNamedExpertsAndC_183736"></a></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not applicable.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 6.</font></u>&nbsp;<u>Indemnification
of Directors and Officers<a name="Item6_IndemnificationOfDirectorsA_183739"></a></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Georgia Business
Corporation Code requires that a corporation indemnify a director who is wholly
successful, on the merits or otherwise, in the defense of any proceeding to
which he was a party because he is or was a director of the corporation against
reasonable expenses incurred by the director in connection with the
proceeding.&#160; The Georgia Business
Corporation Code permits a corporation to indemnify a director who is involved
in a legal proceeding because he is or was a director against liability
incurred in the proceeding if (1) he conducted himself in good faith and (2)
reasonably believed that, in the case of conduct in his official capacity, that
his conduct was in the best interests of the corporation; in all other cases,
that his conduct was at least not opposed to the best interests of the
corporation; and in case of any criminal proceeding, that he had no reasonable
cause to believe that his conduct was unlawful.&#160;
</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='2',FILE='C:\fc\58557042_D11431_1776075\4347-1-de.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company&#146;s Restated
Articles of Incorporation (the &#147;Restated Articles&#148;) exonerate the Company&#146;s
directors from monetary liability to the extent permitted by statute.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company&#146;s Bylaws (the
&#147;Bylaws&#148;) also provide that the Company 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 (including any action by or in the right of the Company), by
reason of the fact that such person is or was a director or officer of the
Company, or is or was serving at the request of the Company as a director or
officer of another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including reasonable attorneys&#146; fees), judgments,
fines, and amounts paid in settlement actually and reasonably incurred by such
person in connection with such action, suit or proceeding, if such person acted
in good faith and in a manner such person reasonably believed to be in or not
opposed to the best interests of the Company (and with respect to any criminal
action or proceeding, if such person had no reasonable cause to believe such
person&#146;s conduct was unlawful), to the maximum extent permitted by, and in the
manner provided by, the Georgia Business Corporation Code.&#160; In addition, the Bylaws provide that the
Company will advance to its directors or officers reasonable expenses of any
such proceeding.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding any
provisions of the Company&#146;s Bylaws to the contrary, the Georgia Business
Corporation Code provides that a corporation may not indemnify a director in
connection with a proceeding by or in the right of the corporation, except for
reasonable expenses incurred in connection with the proceeding if it is determined
that the director met the relevant standard of conduct set forth above.&#160; A corporation may also not indemnify a
director in connection with any proceeding with respect to conduct for which he
was adjudged liable on the basis that personal benefit was improperly received
by him, whether or not involving action in his official capacity.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has purchased
insurance with respect to, among other things, any liabilities that may accrue
under the statutory provisions referred to above.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 7.</font></u>&nbsp;<u>Exemption
From Registration Claimed</u><a name="Item7_ExemptionFromRegistrationCl_183807"></a></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Inapplicable.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 8.</font></u>&nbsp;<u>Exhibits<a name="Item8_Exhibits_183808"></a></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">See Exhibit Index.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Item 9.</font></u>&nbsp;&nbsp;<u>Undertakings<a name="Item9_Undertakings_183810"></a></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned registrant hereby undertakes:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1) To file, during any
period in which offers or sales are being made, a post-effective amendment to
this registration statement:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i) To include any
prospectus required by Section 10(a)(3) of the Securities Act;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='3',FILE='C:\fc\58557042_D11431_1776075\4347-1-de.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii) To reflect in the
prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in the registration statement.&#160; Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range may
be reflected in the form of prospectus filed with the Securities and Exchange
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:108.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii) To include any
material information with respect to the plan of distribution not previously
disclosed in the registration statement or any material change to such
information in the registration statement; <u>provided, however</u>, that
paragraphs (a)(1)(i) and (a)(l)(ii) do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the registrant pursuant to Section 13 or Section
15(d) of the Exchange Act that are incorporated by reference in the
registration statement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2) That, for the purpose
of determining any liability under the Securities Act, each such post-effective
amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3) To remove from
registration by means of a post-effective amendment any of the securities being
registered which remain unsold at the termination of the offering.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The undersigned registrant hereby undertakes that, for
purposes of determining any liability under the Securities Act, each filing of
the registrant&#146;s annual report pursuant to Section 13(a) or Section 15(d) of
the Exchange Act (and, where applicable, each filing of an employee benefit
plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Insofar as indemnification for liabilities arising under the Securities
Act may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.&#160; In the event
that a claim for indemnification against such liabilities (other than the
payment by the registrant of expenses incurred or paid by a director, officer
or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='4',FILE='C:\fc\58557042_D11431_1776075\4347-1-de.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">SIGNATURE<a name="Signature_183850"></a></font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Act,
the registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this
registration statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Atlanta, Georgia, on February 27, 2007.&#160; </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="54%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:54.36%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->A.D.A.M., Inc.</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Kevin S.
  Noland</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kevin S. Noland</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President, Chief
  Executive Officer and</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate
  Secretary</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='5',FILE='C:\fc\58557042_D11431_1776075\4347-1-de.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="margin:0pt 0pt 12.0pt;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES AND
POWER OF ATTORNEY</font></u></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The officers and directors of A.D.A.M., Inc., whose
signatures appear below, hereby constitute and appoint Kevin S. Noland and Mark
B. Adams, and each of them, their true and lawful attorneys and agents, with
full power of substitution, each with power to act alone, to sign and execute
on behalf of the undersigned any amendment or
amendments to this registration statement on Form S-8, and each of the
undersigned does hereby ratify and confirm all that each of said attorney and
agent, or their or his substitutes, shall do or cause to be done by virtue
hereof.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Act of
1933, as amended, this registration statement has been signed by the following
persons in the capacities indicated on February 27, 2007.&#160; </font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p align="left" style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:left;"><!-- SET mrlNoTableShading -->Signature</p>
  </td>
  <td width="4%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="45%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Title</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Kevin S.
  Noland</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President, Chief Executive Officer and</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kevin S. Noland</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director (Principal Executive Officer)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Mark B.
  Adams</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark B. Adams</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Principal Financial and Accounting Officer)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Robert S.
  Cramer, Jr.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chairman of the Board</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Robert S.
  Cramer, Jr.</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Daniel S.
  Howe</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Daniel S. Howe</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Clay E.
  Scarborough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Clay E.
  Scarborough</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Director</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mark Kishel</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.52%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='6',FILE='C:\fc\58557042_D11431_1776075\4347-1-de.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->



<br clear="all" style="page-break-before:always;">
<div style="font-family:Times New Roman;">

<p style="margin:0pt 0pt 12.0pt;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">EXHIBIT INDEX</font></u></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Restated
Articles of Incorporation of the Company</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>By-laws
of the Company are incorporated by reference to the Company&#146;s Registration
Statement on Form S-1 filed with the Securities and Exchange Commission dated
September 12, 1995, as amended (No. 33-96864).</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Opinion
as to Legality</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consent
of Counsel (included in Exhibit 5.1)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.2</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consent
of Tauber &amp; Balser P.C.</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">23.3</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Consent
of Berenson LLP</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">24.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Power
of Attorney (included in signature pages to this registration statement)</p>



</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\mdunna\07-4347-1\task1759440\4347-1-de-01.htm',USER='Mdunna',CD='Feb 23 18:36 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>a07-4347_1ex4d1.htm
<DESCRIPTION>RESTATED ARTICLES OF INCORPORATION OF THE COMPANY
<TEXT>
<html>

<head>







</head>

<body lang="EN-US" style=" text-justify-trim:punctuation">

<div>


<p align="right" style="background:white;margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.25pt;">Exhibit 4.1</font></b></p>

<p align="center" style="background:white;font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.25pt;">ARTICLES OF </font></b><b style="letter-spacing:-.15pt;">INCORPORATION<br>
OF<br>
</b><b style="letter-spacing:-.2pt;">A.D.A.M., INC.</b></p>

<p align="center" style="background:white;margin:0pt 2.15pt 12.0pt 0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-1.7pt;">1.</font></p>

<p style="background:white;margin:0pt 2.15pt 12.0pt 0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.2pt;">The name of the Corporation is A.D.A.M., Inc. (the &#147;Corporation&#148;)</font></p>

<p align="center" style="background:white;margin:0pt 2.85pt 12.0pt 0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .5pt;text-indent:35.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.1. <u>Common Stock</u>. The aggregate number of <font style="letter-spacing:-.15pt;">common shares (referred to in these Articles of
incorporation as &#147;Common Stock&#148;) which the Corporation shall have the authority
to </font><font style="letter-spacing:-.05pt;">issue is 20,000,000, with a par
value of $.01 per share. Each </font><font style="letter-spacing:-.2pt;">share
of Common Stock shall have one vote on each matter submitted </font><font style="letter-spacing:-.15pt;">to a vote of the shareholders of the
Corporation.&#160; Subject to the provisions
of applicable law and the rights of the holders of the outstanding shares of
Preferred Stock, if any, the holders of shares of Common Stock shall be
entitled to receive, when and as declared by the Board of Directors of the
Corporation, out of the </font><font style="letter-spacing:-.2pt;">assets of the
Corporation legally available therefor, dividends or </font><font style="letter-spacing:-.15pt;">other distributions, whether payable in cash,
property or </font><font style="letter-spacing:-.05pt;">securities of the
Corporation. The holders of shares of Common </font><font style="letter-spacing:-.2pt;">Stock shall be entitled to receive, in proportion to the number of </font><font style="letter-spacing:-.15pt;">shares of Common Stock held, the net assets of
the Corporation upon dissolution after any preferential amounts required to be
paid or distributed to holders of outstanding shares of Preferred </font>Stock,
if any, are so paid or distributed.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .25pt;text-indent:35.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.2. <u>Preferred Stock</u>. The aggregate number of <font style="letter-spacing:-.15pt;">preferred shares (referred to in these Articles
of Incorporation as &#147;Preferred Stock&#148;) which the Corporation shall have
authority </font><font style="letter-spacing:-.05pt;">to issue is 10,000,000,
with a par value of $.01 per share. The </font><font style="letter-spacing:-.15pt;">Preferred Stock may be issued from time to time by the Board of
Directors as shares of one or more series.&#160;
The description of shares of each series of Preferred Stock, including
any </font><font style="letter-spacing:-.1pt;">designations, preferences,
conversion and other rights, voting </font><font style="letter-spacing:-.2pt;">powers,
restrictions, limitations as to dividends, qualifications, </font><font style="letter-spacing:-.15pt;">and terms and conditions of redemption shall be
as set forth in resolutions adopted by the Board of Directors, and articles of
amendment shall be filed with the Georgia Secretary of State as required by law
to be filed with respect to issuance of such Preferred Stock, prior to the
issuance of any shares of such </font>series.</font></p>

<p style="background:white;font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:57.65pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">The
Board of Directors is expressly authorized, at any </font><font style="letter-spacing:-.15pt;">time, by adopting
resolutions providing for the issuance of, or providing for a change in the
number of, shares of any particular series of Preferred Stock and, if and to
the extent from time to time required by law, by filing articles of amendment
which are effective without shareholder action, to increase or decrease the </font><font style="letter-spacing:-.1pt;">number of shares
included in each series of Preferred Stock, but </font><font style="letter-spacing:-.15pt;">not below the number of shares then issued, and
to set in any one </font><font style="letter-spacing:-.1pt;">or more respects the designations, preferences, conversion or other
rights, voting powers, restrictions, limitations as to dividends,
qualifications, or terms and conditions of redemption </font><font style="letter-spacing:-.15pt;">relating to the shares
of each such series.&#160; The authority of
the Board of Directors with respect to each series of Preferred Stock </font><font style="letter-spacing:-.1pt;">shall include, but not
be limited to, setting or changing the </font>following:</p>

<p style="background:white;margin:0pt 0pt 12.0pt 29.9pt;text-indent:30.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160; the dividend rate, if any, on
shares of such series, the times of payment and the </font></p>


<br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt 29.2pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">date
from which dividends shall be accumulated, if dividends are to be cumulative;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 30.15pt;text-indent:30.15pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii) whether the shares of such series shall be redeemable and, if so,
the redemption price and the terms and conditions of such redemption;</font></p>

<p style="background:white;margin:0pt 19.15pt 12.0pt 29.65pt;text-indent:30.4pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii) the obligation, if any, of the Corporation to
redeem shares of such series pursuant to a sinking fund;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 29.2pt;text-indent:29.9pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv) whether shares of such series shall be convertible into, or
exchangeable for, shares of stock of any other class or classes and, if so, the
terms and conditions of such conversion or exchange, including the price or
prices or the rate or rates of conversion or exchange and the terms of
adjustment, if any;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 29.4pt;text-indent:30.15pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v) whether the shares of such series shall have voting rights, in
addition to the voting rights provided by law, and, if so, the extent of such
voting rights;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 28.45pt;text-indent:30.6pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi) the rights of the shares of such series in the event of voluntary
or involuntary liquidation, dissolution or winding-up of the Corporation; and</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 28.95pt;text-indent:30.6pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii) any other relative rights, powers, preferences, qualifications,
limitations or restrictions thereof relating to such series.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.1&#160; <u>Designation</u>. The shares of Series A
convertible preferred stock, par value $.01 per share, shall be designated the &#147;Convertible
Preferred Stock.&#148;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.2&#160; <u>Dividends</u>.&#160; When, as and if declared by the Board of
Directors, the holders of any of the outstanding Corporation&#146;s capital stock
(either common or preferred) shall be entitled to receive, out of any funds
legally available therefor, any dividends, then the holders of Convertible
Preferred Stock shall receive any such dividends on a ratable basis based on
each holder&#146;s outstanding Convertible Preferred Stock as a percentage of total
outstanding capital stock. Such dividend amounts shall be subject to equitable
adjustment in the event of any stock split, dividend, combination,
reclassification or other similar event. Upon liquidation, dissolution or
winding up of the Corporation, or redemption of the Convertible Preferred
Stock, all accrued and unpaid dividends, whether or not earned or declared, to
and until the date of such event, shall become immediately due and payable and
shall be paid in full.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.3&#160; <u>Liquidation, Dissolution or Winding Up</u>.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the event of any liquidation, dissolution or winding up
of the Corporation, whether voluntary or involuntary, holders of each share of
Convertible Preferred Stock shall be entitled to be paid first out of the
assets of the Corporation available for distribution to holders of the
Corporation&#146;s capital stock of all classes, whether such assets are capital,
surplus, or earnings, before any sums shall be paid or any assets distributed
among the holders of shares of Common Stock, an amount equal to $8.00 per share
of Convertible Preferred Stock <u>plus</u> (i) an amount equal to all accrued
and unpaid dividends thereon, whether or not earned or declared, up to and
including the date of full payment and (ii) a premium in an amount equal to
$0.80 per </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='2',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">annum per share (for the time period such
Convertible Preferred Stock is held) subject to adjustment in the event of any
stock split, dividend, combination, reclassification or other similar event
involving the Convertible Preferred Stock. If the assets of the Corporation
shall be insufficient to permit the payment in full to the holders of the
Corporation&#146;s Preferred Stock of the amount thus distributable, then the entire
assets of the Corporation available for such distribution shall be distributed
ratably among the holders of all of the Corporation&#146;s preferred stock,
including ratable distribution to the holders of the Convertible Preferred
Stock.&#160; After such payment shall have
been made in full to the holders of the Convertible Preferred Stock or funds
necessary for such payment shall have been set aside by the Corporation in
trust for the account of holders of the Convertible Preferred Stock so as to be
available for such payment, holders of the Convertible Preferred Stock shall be
entitled to no further participation in the distribution of the assets of the
Corporation and shall have no further rights of conversion, and the remaining
assets available for distribution shall be distributed ratably among the
holders of the Common Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A consolidation or
merger of the Corporation or a sale of all or substantially all of the assets
of the Corporation shall be regarded, at the option of the holder of the
Convertible Preferred Stock, as a liquidation, dissolution or winding up of the
affairs of the Corporation within the meaning of this Section 2.2.3.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Whenever the
distribution provided for herein shall be paid in property other than cash, the
value of such distribution shall be the fair market value of such property as
determined in good faith by the Board of Directors of the Corporation.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.4&#160; <u>Voting Power</u>. Except as required by
law, each holder of Convertible Preferred Stock shall be entitled to vote on
all matters and shall be entitled to that number of votes equal to one hundred
percent (100%) of the largest number of whole shares of Common Stock into which
such holder&#146;s shares of Convertible Preferred Stock could be converted pursuant
to the provisions of Section 2.2.5 hereof, at the record date for the
determination of shareholders entitled to vote on such matters or, if no such
record date is established, at the date such vote is taken or any written
consent of shareholders is solicited.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.5&#160; <u>Right to Convert</u>.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conversion Price</u>. The initial conversion price per
share for the Convertible Preferred Stock is $8.00. Subject to the terms and
conditions of this Section 2.2.5, the holder of any share or shares of
Convertible Preferred Stock shall have the right, at its option at any time, to
convert any of such shares of Convertible Preferred Stock (except as provided
herein and hereof upon any liquidation, merger or sale of assets of the
Corporation) into such number of fully paid and nonassessable whole shares of
Common Stock as is obtained by multiplying the number of shares of Convertible
Preferred Stock to be converted by $8.00 and dividing the result by the initial
conversion price of $8.00 per share, or, if there has been an adjustment of
such conversion price, by the conversion price as last adjusted and in effect
at the date any share or shares of Convertible Preferred Stock are surrendered
for conversion (such price, or such price as last adjusted, being referred to
herein as the &#147;Preferred Stock Conversion Price&#148;).</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='3',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exercise of Conversion Rights</u>. The rights of
conversion herein provided shall be exercised by any holder of shares of
Convertible Preferred Stock by giving written notice that such holder elects to
convert a stated number of shares of Convertible Preferred Stock into Common
Stock and by surrender of a certificate or certificates for the shares to be so
converted to the Corporation at its principal office (or such other office or
agency of the Corporation as the Corporation may designate by notice in writing
to the holder or holders of the Convertible Preferred Stock) at any time during
its usual business hours on the date set forth in such notice, together with a
statement of the name or names (with address) in which the certificate or
certificates for shares of Common Stock shall be issued.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Issuance of Certificates; Time Conversion Effected</u>.
Promptly after the receipt of the written notice referred to in Section
2.2.5(b) and surrender of the certificate or certificates for the share or
shares of the Convertible Preferred Stock to be converted, the Corporation
shall issue and deliver, or cause to be issued and delivered, to such holder,
registered in such name or names as such holder may direct, subject to
compliance with applicable laws to the extent such designation shall involve a
transfer, a certificate or certificates for the number of whole shares of
Common Stock issuable upon the conversion of such share or shares of
Convertible Preferred Stock. To the extent permitted by law, such conversion
shall be deemed to have been effected as of the close of business on the date
on which the certificate or certificates for such share or shares shall have
been surrendered as aforesaid, and at such time the rights of the holder of
such share or shares of Convertible Preferred Stock shall cease, and the person
or persons in whose name or names any certificate or certificates for shares of
Common Stock shall be issuable upon such conversion shall be deemed to have
become the holder or holders of record of the shares represented thereby.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Fractional Shares: Dividends; Partial Conversion</u>.&#160; No fractional shares shall be issued upon
conversion of the Convertible Preferred Stock into Common Stock and no payment
or adjustment shall be made upon any conversion on account of any cash
dividends on the Common Stock issued upon such conversion. At the time of each
conversion, the Corporation shall pay in cash an amount equal to all dividends
accrued and unpaid on the share surrendered for conversion to the date upon
which such conversion is deemed to take place as provided in Section 2.2.5(c).
In case the number of shares of Convertible Preferred Stock represented by the
certificate or certificates surrendered pursuant to Section 2.2.5(b) exceeds
the number of shares converted, the Corporation shall, upon such conversion,
execute and deliver to the holder thereof, at the expense of the Corporation, a
new certificate or certificates for the number of shares of Convertible
Preferred Stock represented by the certificate or certificates surrendered that
are not to be converted. If any fractional interest in a share of Common Stock
would, except for the provisions of the first sentence of this Section
2.2.5(d), be deliverable upon any such conversion, the Corporation, in lieu of
delivering the fractional share thereof, shall pay to the holder surrendering
the Convertible Preferred Stock for conversion an amount in cash equal to the
current market price of such fractional interest as determined in good faith by
the Board of Directors of the Corporation.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Adjustment of Convertible Preferred Stock Conversion
Price Upon Issuance of Common Shares</u>.&#160;
Except as provided in Section 2.2.5(i) hereof, if and whenever, on or
before the fifth anniversary of the date of issuance of the shares of
Convertible Preferred Stock to be </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='4',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">issued by the Corporation (the &#147;Date of Issuance&#148;),
the Corporation shall issue or sell, or is, in accordance with Section
2.2.5(e)(i) through 2.2.5(e)(vii), deemed to have issued or sold any shares of
its Common Stock for a consideration per share less than Preferred Stock
Conversion Price in effect immediately prior to such issue or sale, then, forth
with upon such issue or sale, the Preferred Stock Conversion Price shall be
reduced to the price (calculated to the nearest tenth of a cent) determined to
be the consideration, if any, received, or deemed to have been received
pursuant to such Sections 2.2.5(e) (i) through 2.2.5(e) (vii), by the
Corporation upon such issue or sale.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as provided in
Section 2.2.5(1) hereof, if and whenever, after the fifth anniversary of the
Date of Issuance, the Corporation shall issue or sell, or is, in accordance
with Sections 2.2.5(e)(i) through 2.2.5(e)(vii), deemed to have issued or sold
any shares of its Common Stock for a consideration per share less than the
Preferred Stock Conversion Price in effect immediately prior to the time of
such issue or sale, then, forthwith upon such issue or sale, the Preferred
Stock Conversion Price shall be reduced to the price (calculated to the nearest
tenth of a cent) determined by dividing (1) an amount equal to the sum of (A)
the number of shares of Common Stock outstanding immediately prior to such
issue or sale (including as outstanding all shares of Common Stock issuable
upon conversion of outstanding Convertible Preferred Stock) multiplied by the
then existing Preferred Stock Conversion Price, and (B) the consideration, if
any, received, or deemed to have been received pursuant to such Sections
2.2.5(e)(i) through 2.2.5(e)(vii), by the Corporation upon such issue or sale,
by (2) the total number of shares of Common Stock outstanding, or deemed to be
outstanding, immediately after such sale (including as outstanding all shares
of Common Stock issuable upon conversion of outstanding Convertible Preferred
Stock).</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No adjustment of the
Preferred Stock Conversion Price, however, shall be made in an amount less than
$0.01 per share, and any such lesser adjustment shall be carried forward and
shall be made at the time and together with the next subsequent adjustment
which together with any adjustments so carried forward shall amount to $0.01
per share or more.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of this Section
2.2.5(e), the following Sections 2.2.5(e)(i) to 2.2.5(e)(vii), shall also be
applicable.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:70.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Issuance of Rights or Options</u>.&#160; In case at any time the Corporation shall in
any manner grant (whether directly or by assumption in a merger or otherwise)
any rights to subscribe for or to purchase, or any options for the purchase of,
Common Stock or any stock or securities convertible into or exchangeable for
Common Stock (such rights or options being herein called &#147;Options&#148; and such
convertible or exchangeable stock or securities being herein called &#147;Convertible
Securities&#148;) whether or not such Options or the right to convert or exchange
such Convertible Securities are immediately exercisable, and the price per
share for which Common Stock is issuable upon the exercise of such Options or
upon conversion or exchange of such Convertible Securities (determined by
dividing (i) the total amount, if any, received or receivable by the
Corporation as consideration for the granting of such Options, plus the minimum
aggregate amount of additional consideration payable to the Corporation upon
the exercise of all such Options, plus, in the case of such Options which
relate to Convertible Securities, the minimum aggregate amount of additional
consideration, if any, payable upon the </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='5',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">issue or sale of such
Convertible Securities and upon the conversion or exchange thereof, by (ii) the
total maximum number of shares of Common Stock issuable upon the exercise of
such Options or upon the conversion or exchange of all such Convertible
Securities issuable upon the exercise of such Options) shall be less than the
Preferred Stock Conversion Price in effect immediately prior to the time of the
granting of such Options, then the total maximum number of shares of Common
Stock issuable upon the exercise of such Options or upon conversion or exchange
of the total maximum amount of such Convertible Securities issuable upon the
exercise of such Options shall be deemed to have been issued for such price per
share as of the date of granting of such Options and thereafter shall be deemed
to be outstanding in calculating the Convertible Preferred Stock Conversion
Price.&#160; Except as otherwise provided in
Section 2.2.5(e)(iii), no adjustment of the Convertible Preferred Stock
Conversion Price shall be made upon the actual issue of such Common Stock or of
such Convertible Securities upon exercise of such Options or upon the actual
issue of such Common Stock upon conversion or exchange of such Convertible
Securities.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Issuance of Convertible Securities</u>.&#160; In case the Corporation shall in any manner
issue (whether directly or by assumption in a merger or otherwise) or sell any
Convertible Securities, whether or not the rights to exchange or convert
thereunder are immediately exercisable, and the price per share for which
Common Stock is issuable upon such conversion or exchange (determined by
dividing (i) the total amount received or receivable by the Corporation as
consideration for the issue or sale of such Convertible Securities, plus the minimum
aggregate amount of additional consideration, if any, payable to the
Corporation upon the conversion or exchange thereof, by (ii) the total maximum
number of shares of Common Stock issuable upon the conversion or exchange of
all such Convertible Securities) shall be less than the Convertible Preferred
Stock Conversion Price in effect immediately prior to the time of such issue or
sale, then the total maximum number of shares of Common Stock issuable upon
conversion or exchange of all such Convertible Securities shall be deemed to
have been issued for such price per share as of the date of the issue or sale
of such Convertible Securities and thereafter shall be deemed to be outstanding
in calculating the Preferred Stock Conversion Price, provided that (a) except
as otherwise provided in Section 2.2.5(e)(iii) below, no adjustment of the
Preferred Stock Conversion Price shall be made upon the actual issue of such
Common Stock upon conversion or exchange of such Convertible Securities, and
(b) if any such issue or sale of such Convertible Securities is made upon
exercise of any Option to purchase any such Convertible Securities for which
adjustments of the Preferred Stock Conversion Price have been or are to be made
pursuant to other provisions of this Section 2.2.5(e), no further adjustment of
the Preferred Stock Conversion Price shall be made by reason of such issue or
sale.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Change in Option Price or Conversion Rate</u>.&#160; Upon the happening of any of the following
events, namely, if the purchase price provided for in any Option referred to in
Section 2.2.5(e)(i), the additional consideration, if any, payable upon the
conversion or exchange of any Convertible Securities referred to in Section
2.2.5(e)(i) or 2.2.5 (e)(ii), or the rate at which any Convertible Securities
referred to in Section 2.2.5(e)(i) or 2.2.5 (e)(ii) are convertible into or
exchangeable for Common Stock shall change at any time (in each case other than
under or by reason of provisions designed to protect against dilution), the
Preferred Stock Conversion Price in effect at the time of such event shall
forthwith be readjusted to the Preferred Stock Conversion Price which would
have been in effect at such time had such Options or </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='6',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Convertible Securities still
outstanding provided for such changed purchase price, additional consideration
or conversion rate, as the case may be, at the time initially granted, issued
or sold; and on the expiration of any such Option or the termination of any
such right to convert or exchange such Convertible Securities, the Preferred
Stock Conversion Price then in effect hereunder shall forthwith be increased to
the Preferred Stock Conversion Price which would have been in effect at the
time of such expiration or termination had such Option or Convertible Securities,
to the extent outstanding immediately prior to such expiration or termination,
never been issued, and the Common Stock issuable thereunder shall no longer be
deemed to be outstanding.&#160; If the
purchase price provided for in any such Option referred to in Section
2.2.5(e)(i) or the rate at which any Convertible Securities referred to in
Section 2.2.5(e)(i) or 2.2.5(e)(ii) are convertible into or exchangeable for
Common Stock shall be reduced at any time under or by reason of provisions with
respect thereto designed to protect against dilution, then, in case of the
delivery of Common Stock upon the exercise of any such Option or upon
conversion or exchange of any such Convertible Securities, the Preferred Stock
Conversion Price then in effect hereunder shall forthwith be adjusted to such
respective amount as would have been obtained had such Option or Convertible
Securities never been issued as to such Common Stock and had adjustments been
made upon the issuance of the shares of Common Stock delivered as aforesaid,
but only if as a result of such adjustment such Conversion Price then in effect
hereunder is thereby reduced.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Stock Dividends</u>.&#160;
In case the Corporation shall declare a dividend or make any other
distribution upon any stock of the Corporation payable in Common Stock, Options
or Convertible Securities, any Common Stock, Options or Convertible Securities,
as the case may be, issuable in payment of such dividend or distribution shall
be deemed to have been issued or sold without consideration.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Consideration for Stock</u>.&#160; In case any shares of Common Stock, Options
or Convertible Securities shall be issued or sold for cash, the consideration
received therefor shall be deemed to be the amount received by the Corporation
therefor, without deduction therefrom of any expenses incurred or any
underwriting commissions or concessions paid or allowed by the Corporation in
connection therewith. In case any shares of Common Stock, Options or
Convertible Securities shall be issued or sold for a consideration other than
cash, the amount of the consideration other than cash received by the
Corporation shall be deemed to be the fair value of such consideration as
determined in good faith by the Board of Directors of the Corporation, without
deduction therefrom of any expenses incurred or any underwriting commissions or
concessions paid or allowed by the Corporation in connection therewith. The
amount of consideration deemed to be received by the Corporation pursuant to
the foregoing provisions of this Section 2.2.5(e)(v) upon any issuance and/or
sale of shares of Common Stock, Options or Convertible Securities, pursuant to
an established compensation plan of the Corporation, to directors, officers or
employees of the Corporation in connection with their employment, shall be
increased by the amount of any tax benefit realized by the Corporation as a
result of such issuance and/or sale, the amount of such tax benefit being the
amount by which the federal and/or state income or other tax liability of the
Corporation shall be reduced by reason of any deduction or credit in respect of
such issuance and/or sale in the fiscal year of such issuance and/or sale.&#160; In case any Options shall be issued in
connection with the issue and sale of other securities of the Corporation,
together comprising one integral transaction in which no specific </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='7',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">consideration is allocated
to such Options by the parties thereto, such Options shall be deemed to have
been issued without consideration.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Record Date</u>. In case the Corporation shall take a
record of the holders of its Common Stock for the purpose of entitling them (A)
to receive a dividend or other distribution payable in Common Stock, Options or
Convertible Securities, or (B) to subscribe for or purchase Common Stock,
Options or Convertible Securities, then such record date shall be deemed to be
the date of the issue or sale of the shares of Common Stock deemed to have been
issued or sold upon the declaration of such dividend or the making of such
other distribution or the date of the granting of such right of subscription or
purchase, as the case may be.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:75.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Treasury Shares</u>. The number of shares of Common Stock
outstanding at any given time shall not include shares owned or held by or for
the account of the Corporation, and the disposition of any such shares shall be
considered an issue or sale of Common Stock for the purpose of this Section
2.2.5(e).</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination</u>. In the event of a call for redemption
of any shares of Convertible Preferred Stock pursuant to Section 2.2.6 hereof,
the right to convert shall terminate as to the shares designated for redemption
at the close of business on the fifth day prior to the Redemption Date, unless
a default is made in payment of the Redemption Price.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Subdivision or Combination of Stock</u>.&#160; In case the Corporation shall at any time
subdivide its outstanding shares of Common Stock into a greater number of
shares, the Preferred Stock Conversion Price in effect immediately prior to
such subdivision shall be proportionately reduced, and conversely, in case the
outstanding shares of Common Stock of the Corporation shall be combined into a
smaller number of shares, the Preferred Stock Conversion Price in effect
immediately prior to such combination shall be proportionately increased.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Reorganization, Reclassification, Consolidation, Merger
or Sale</u>. If any capital reorganization or reclassification of the capital
stock of the Corporation or any consolidation or merger of the Corporation with
another corporation, or the sale of all or substantially all of its assets to
another corporation shall be effected in such a way (including, without
limitation, by way of consolidation or merger) that holders of Common Stock
shall be entitled to receive stock, securities or assets with respect to or in
exchange for Common Stock, then, as a condition of such reorganization or
reclassification, lawful and adequate provisions shall be made whereby each
holder of a share or shares of Convertible Preferred Stock shall thereafter
have the right to receive, upon the basis and upon the terms and conditions
specified herein and in lieu of the shares of Common Stock of the Corporation
immediately theretofore receivable upon the conversion of such share or shares
of the Convertible Preferred Stock, such shares of stock, securities or assets
as may be issued or payable with respect to or in exchange for a number of
outstanding shares of such Common Stock equal to the number of shares of such
stock immediately theretofore so receivable had such reorganization or
reclassification not taken place, and in any such case appropriate provision
shall be made with respect to the rights and interests of such holder to the
end that the provisions hereof shall thereafter be applicable, as nearly as may
be, in relation to any shares of stock, securities or assets thereafter
deliverable upon the exercise of such conversion rights. In the event of a
merger or consolidation of the Corporation </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='8',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">as a result of which a
greater or lesser number of shares of common stock of the surviving corporation
are issuable to holders of Common Stock of the Corporation outstanding
immediately prior to such merger or consolidation, the Preferred Stock
Conversion Price in effect immediately prior to such merger or consolidation
shall be adjusted in the same manner as though there were a subdivision or
combination of the outstanding shares of Common Stock of the Corporation. The
Corporation will not effect any such consolidation or merger, or any sale of
all or substantially all of its assets and properties, unless prior to the
consummation thereof the successor corporation (if other than the Corporation)
resulting from such consolidation or merger or the corporation purchasing such
assets shall assume by written instrument the obligation to deliver to such
holder such shares of stock, securities or assets as, in accordance with the
foregoing provisions, such holder may be entitled to receive.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Certain
Issues of Common Stock Excepted</u>. Notwithstanding anything contained herein
to the contrary, the Corporation shall not be required to make any adjustment
of the Convertible Preferred Stock Conversion Price by reason of the issuance
of Common Stock or the grant of stock options in accordance with Section 5.4(b)
of the Stock Purchase Agreement, dated December 22, 1994 (the &#147;Purchase
Agreement&#148;) by and among the Corporation, Chemical Bank, as trustee for the
Firestone Tire and Rubber Master Trust (R.D. 4615504) and James D. Oelschlager
or the issuance of Common Stock upon the exercise of such options.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice
of Adjustment</u>.&#160; Upon any adjustment
of the Preferred Stock Conversion Price, then and in each such case the
Corporation shall give written notice thereof, by first class mail, postage
prepaid, addressed to each holder of shares of Convertible Preferred Stock at
the address of such holder as shown on the books of the Corporation, which
notice shall state the Preferred Stock Conversion Price resulting from such
adjustment, setting forth in reasonable detail the method of calculation and
the facts upon which such calculation is based.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Other
Notices</u>.&#160; In case at any time:</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Corporation shall declare any dividend upon its Common Stock payable in cash or
stock or make any other distribution to the holders of its Common Stock;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Corporation shall offer for subscription <u>pro rata</u> to the holders of its
Common Stock any additional shares of stock of any class or other rights;</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there
shall be any capital reorganization or reclassification of the capital stock of
the Corporation, or consolidation or merger of the Corporation with, or a sale
of all or substantially all of its assets to another corporation;</font></p>

<p style="background:white;margin:0pt 20.1pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there
shall be a voluntary or involuntary dissolution, liquidation or winding up of
the Corporation;</font></p>

<p style="background:white;margin:0pt 20.1pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there
shall be any request for optional redemption of the Convertible Preferred Stock
pursuant to Section 2.2.11; or</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='9',FILE='C:\fc\51214446237_P92010_1737631\4347-1-kc.htm',USER='jmsproofassembler',CD='Feb 20 21:44 2007' -->



<br clear="all" style="page-break-before:always;">
<div>


<p style="background:white;margin:0pt 20.1pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the
Corporation shall take any action or there shall be any event which would
result in an automatic conversion of the Convertible Preferred Stock pursuant
to Section 2.2.5(1);</font></p>

<p style="background:white;margin:0pt 20.1pt 12.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">then,
in any one or more of said cases, the Corporation shall give, by first class
mail, postage prepaid, return receipt requested, addressed to each holder of
any shares of Convertible Preferred Stock at the address of such holder as
shown on the books of the Corporation (A) at least 30 days&#146; prior written
notice of the date on which the books of the Corporation shall close or a
record shall be taken for such dividend, distribution or subscription rights or
for determining rights to vote in respect of any such reorganization,
reclassification, consolidation, merger, sale, dissolution, liquidation or
winding up, (B) in the case of any such reorganization, reclassification,
consolidation, merger, sale, dissolution, liquidation or winding up, at least
30 days&#146; prior written notice of the date when the same shall take place, and
(C) in the case of any request for optional redemption hereunder or event which
would result in an automatic conversion hereunder, at least 30 days&#146; prior
written notice of the date on which such optional redemption or automatic
conversion will be effected. Such notice in accordance with the foregoing
clause (A) shall also specify, in the case of such dividend, distribution or
subscription rights, the date on which the holders of Common Stock shall be
entitled thereto, and such notice in accordance with the foregoing clause (B)
shall also specify the date on which the holders of Common Stock shall be
entitled to exchange their common stock for securities or other property
deliverable upon such reorganization, reclassification, consolidation, merger,
sale, dissolution, liquidation or winding up, as the case may be.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Automatic
Conversion</u>. In the event that at any time while any of the shares of
Convertible Preferred Stock shall be outstanding, the Corporation shall
complete a &#147;Qualified Public Offering&#148;, then all outstanding shares of
Convertible Preferred Stock shall, automatically and without further action on
the part of the holders of the Convertible Preferred Stock, be converted into
shares of Common Stock in accordance with the terms of this Section 2.2.5, with
the same effect as if the certificates evidencing such shares had been
surrendered for conversion, such conversion to be effected simultaneously with
the closing under such Qualified Public Offering; <u>provided</u>, <u>however</u>,
that certificates evidencing the shares of Common Stock issuable upon such
conversion shall not be issued except on surrender of the certificates for the
shares of Convertible Preferred Stock so converted. A &#147;Qualified Public
Offering&#148; shall mean and include the closing of an underwritten public offering
pursuant to an effective registration statement under the Securities Act
covering the offer and sale of Common Stock for the account of the Corporation
from which the aggregate gross proceeds to the Corporation equal or exceeds
$7,500,000.</font></p>

<p style="background:white;margin:0pt .5pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Stock
to be Reserved</u>. The Corporation will at all times reserve and keep
available out of its authorized Common Stock, solely for the purpose of issue
upon the conversion of the Convertible Preferred Stock as herein provided, such
number of shares of Common Stock as shall then be issuable upon the conversion
of all outstanding shares of Convertible Preferred Stock. The Corporation
covenants that all shades of Common Stock which shall be so issued shall be
duly and validly issued and fully paid and nonassessable and free from all </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='10',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt .5pt 12.0pt 18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">taxes, liens and charges arising out of or by reason of the issue
thereof, and without limiting the generality of the foregoing, the Corporation
further covenants that it will from time to time take all such action as may be
requisite to assure that the par value per share of the Common stock, if any,
is at all times equal to or less than the effective Preferred Stock Conversion
Price. The Corporation will take all such action as may be necessary on its
part to assure that all such shares of Common Stock may be so issued without
violation of any applicable law or regulation, or of any requirements of any
national securities exchange upon which the Common Stock of the Corporation may
be listed. The Corporation will not take any action which results in any
adjustment of the Preferred Stock Conversion Price if the total number of
shares of Common Stock issued and issuable after such action upon conversion of
the Convertible Preferred Stock would exceed the total number of shares of
Common Stock then authorized by the Corporation&#146;s Articles of Incorporation.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No
Reissuance of Convertible Preferred Stock</u>. Shares of Convertible Preferred
Stock which are converted into shares of Common Stock as provided herein shall
not be reissued.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Issue
Tax</u>. The issuance of certificates for shares of Common Stock upon
conversion of the Convertible Preferred Stock shall be made without charge to
the holders thereof for any issuance tax in respect thereof, provided that the
Corporation shall not be required to pay any tax which may be payable in
respect of any transfer involved in the issuance and delivery of any
certificate in a name other than of the holder of the Convertible Preferred
Stock which is being converted.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Closing
of Books</u>. The Corporation will at no time close its transfer books against
the transfer of any Convertible Preferred Stock or of any shares of Common
Stock issued or issuable upon the conversion of any shares of Convertible
Preferred Stock in any manner which interferes with the timely conversion of
such Convertible Preferred Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Definition
of Common Stock</u>. As used herein, the term &#147;Common Stock&#148; shall mean and
include the Corporation&#146;s authorized Common Stock; <u>provided</u> that the
shares of Common Stock receivable upon conversion of shares of the Convertible
Preferred Stock of the Corporation, or in case of any reorganization or
reclassification of the outstanding shares thereof, the stock, securities or
assets provided for in Section 2.2.5(h), shall include only shares designated
as Common Stock of the Corporation, except as otherwise specifically provided
in this Section 2.2.5; <u>provided,</u>  <u>further</u> that Convertible
Preferred Stock shall not be deemed to be Common Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.6&#160; <u>Corporation Redemption</u>.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On the fifth anniversary of the date of initial issuance
of shares of Convertible Preferred Stock and on each anniversary thereafter
(the &#147;Redemption Date&#148;), the Corporation shall have the right to call for
redemption all of the shares of outstanding Convertible Preferred Stock. The
redemption price for each share of Convertible Preferred Stock redeemed
pursuant to this Section 2.2.6 (the &#147;Redemption Price&#148; or the &#147;Redemption
Prices&#148;) shall be $8.00 per share <u>plus</u> (i) an amount equal to all
accrued and unpaid dividends thereon, whether or not earned or </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='11',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">declared up to and including
the date of redemption and (ii) a premium in an amount equal to $0.80 per annum
per share (for the time period such Convertible Preferred Stock is held)
subject to adjustment in the event of any stock split, dividend, combination,
reclassification or other similar event involving the Convertible Preferred
Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Redemption Prices set
forth in this Section 2.2.6 shall be subject to equitable adjustment whenever
there shall occur a stock split, dividend, combination, reclassification or
other similar event involving the Convertible Preferred Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; At least 30 days before the
Redemption Date specified in Section 2.2.6(a), written notice (hereinafter
referred to as the &#147;Redemption Notice&#148;) shall be mailed, postage prepaid, to
each holder of record of the Convertible Preferred Stock which is to be
redeemed, at its address shown on the records of the Corporation; <u>provided,
however,</u> that prior to the giving of such Redemption Notice, the conversion
rights of such holder pursuant to Section 2.2.5 hereof shall not be affected
and such holder may, prior to receiving such Redemption Notice, convert an
equivalent number of shares of Convertible Preferred Stock into Common Stock
pursuant to such Section 2.2.5; <u>provided, further,</u> that the Corporation&#146;s
failure to give such Redemption Notice shall in no way affect its obligation to
redeem the shares of Convertible Preferred Stock as provided in Section 2.2.11
herein. The Redemption Notice shall contain the following information:</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
number of shares of Convertible Preferred Stock held by the holder which shall
be redeemed by the Corporation, and the total number of shares of Convertible
Preferred Stock held by all holders to be so redeemed,</font></p>

<p style="background:white;margin:0pt 42.1pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
Redemption Date and the applicable Redemption Price, and</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 18.0pt;text-indent:54.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; That
the holder is to surrender to the Corporation, at the place designated therein,
its certificate or certificates representing the shares of Convertible
Preferred Stock to be redeemed.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each holder of shares of
Convertible Preferred Stock to be redeemed shall surrender the certificate or
certificates representing such shares to the Corporation at the place
designated in the Redemption Notice, and thereupon the applicable Redemption
Price for such shares as set forth in this Section 2.2.6 shall be paid to the
order of the person whose name appears on such certificate or certificates and
each surrendered certificate shall be cancelled and retired.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.7&#160; <u>No Reissuance of Convertible Preferred
Stock</u>. No share or shares of Convertible Preferred Stock acquired by the
Corporation by reason of redemption, purchase, conversion or otherwise shall be
reissued, and all such shares shall be cancelled, retired and eliminated from
the shares which the Corporation shall be authorized to issue.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.8&#160; <u>Board of Directors Representation</u>. At
elections to elect members of the board of directors, except as specified
below, the holders of all of the Series A Preferred Stock are entitled to elect
as a class, one (1) of the authorized members of the Corporation&#146;s Board of
Directors and </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='12',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">to fill any vacancy in such directorship (the &#147;Series
A Preferred Director&#148;), as long as at least 100,000 shares of Series A
Preferred Stock of the Corporation are outstanding at the time of such vote.
The Series A Preferred Director may be removed at any time for cause solely by
the supermajority vote of seventy-five (75%) of the holders of all of the
Series A Preferred stock, voting as a class. The remaining directors shall be
elected by all holders entitled to vote pursuant to the Corporation&#146;s Restated
Articles of Incorporation and Bylaws, as amended, excluding all such shares
held by holders of Series A Preferred Stock. In the event that additional
members of the Board of Directors are authorized or in the event of the vacancy
or vote for removal of a director other than the Series A Preferred Director,
such holders entitled to vote, excluding holders of Series A Preferred Stock,
shall vote all of their respective shares pursuant to the Corporation&#146;s
Restated Articles of Incorporation and Bylaws, as amended.&#160; If there are less than 100,000 shares of
Series A Preferred Stock outstanding, each holder of Series A Preferred Stock
is entitled to as many votes as shall equal the number of shares of Common
Stock issuable to such holder upon conversion of all such shares held by such
holder on the record date for the determination of shareholders entitled to
vote. The rights of each holder of Series A Preferred Stock under this Section
2.2.8 with respect to election of directors shall terminate upon the closing of
a Qualified Public Offering.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.9&#160; <u>No Dilution or Impairment</u>. The
Corporation will not, by amendment of its Articles of Incorporation or through
any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities or any other voluntary action, avoid or seek to
avoid the observance or performance of any of the terms of the Convertible
Preferred Stock set forth herein, but will at all times in good faith assist in
the carrying out of all such terms and in the taking of all such action as may
be necessary or appropriate in order to protect the rights of the holders of
the Convertible Preferred Stock against dilution or other impairment. Without
limiting the generality of the foregoing, the Corporation (a) will not increase
the par value of any shares of stock receivable on the conversion of the
Convertible Preferred Stock above, (b) will take all such action as may be
necessary or appropriate in order that the Corporation may validly and legally
issue fully paid and nonassessable shares of stock on the conversion of all
Convertible Preferred Stock from time to time&nbsp;outstanding, (c) will not
issue any capital stock of any class which is preferred as to dividends or as
to the distribution of assets upon voluntary or involuntary dissolution,
liquidation or winding up of the Corporation, unless the rights of the holders
thereof shall be limited to a fixed sum or percentage of par value in respect
of participation in dividends and in any such distribution of assets, and (d)
will not transfer all or substantially all of its properties and assets to any
other person (corporate or otherwise), or consolidate with or merge into any
other person or permit any such person to consolidate with or merge into the
Corporation (if the Corporation is not the surviving person), unless such other
person shall expressly assume in writing and will be bound by all the terms of
the Convertible Preferred Stock set forth herein.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.10&#160; <u>Notices of Record Date</u>. In the event
of:</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any taking by the
Corporation of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any
dividend or other distribution, or any right to subscribe for, purchase or
otherwise acquire any shares of stock of any class or any other securities or
property, or to receive any </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='13',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">other
right, or</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;text-indent:31.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any
capital reorganization of the Corporation, any reclassification or
recapitalization of the capital stock of the Corporation, any merger or
consolidation of the Corporation, or any transfer of all or substantially all
of the assets of the Corporation to any other corporation, or any other entity
or person, or</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any
voluntary or involuntary dissolution, liquidation or winding up of the
Corporation,</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">then and in each such event the Corporation shall
mail or cause to be mailed to each holder of Convertible Preferred Stock a
notice specifying (i) the date on which any such record is to be taken for the
purpose of such dividend, distribution or right and a description of such
dividend, distribution or right, (ii) the date on which any such
reorganization, reclassification, recapitalization, transfer, consolidation,
merger, dissolution, liquidation or winding up is expected to become effective,
(iii) the time, if any, that is to be fixed, as to when the holders of record
of Common Stock (or other securities) shall be entitled to exchange their
shares of Common Stock (or other securities) for securities or other property
deliverable upon such reorganization, reclassification, recapitalization,
transfer, consolidation, merger, dissolution, liquidation or winding up. Such
notice shall be mailed at least 60 days prior to the date specified in such notice
on which such action is to be taken.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.2.11&#160; <u>Holders of Convertible Preferred Stock Put
Option</u>.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Put Option</u>. Each holder of Convertible Preferred
Stock shall have the right to require the Corporation to redeem shares of then
outstanding Convertible Preferred Stock as provided under this Section 2.2.11
after the fifth anniversary of the date of initial issuance of shares of
Convertible Preferred Stock (the &#147;Put Date&#148;); <u>provided that</u> the shares
of Common Stock issued upon the conversion of shares of Convertible Preferred
Stock before the fifth anniversary of the date of initial issuance of shares of
Convertible Preferred Stock shall not be subject to the terms of this Section
2.2.11.&#160; In the event that the conditions
set forth above have been met with respect to the Convertible Preferred Stock,
the holder of Convertible Preferred Stock may exercise its option hereunder
only with respect to all or any portion of the then outstanding shares of
Convertible Preferred Stock held by such holder of Convertible Preferred Stock.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Put Price</u>. The put
price for each share of Convertible Preferred Stock pursuant to Section
2.2.11(a) shall be equal to the greater of:&#160;
(i) $8.00 per share of Convertible Preferred Stock, <u>plus</u> (x) an
amount equal to all accrued and unpaid dividends thereon, whether or not earned
or declared up to and including the date of redemption and (y) a premium in an
amount equal to $0.80 per share per annum (for the time period such Convertible
Preferred Stock is held) subject to adjustment in the event of any stock split,
dividend, combination, reclassification or other similar event involving the
Convertible Preferred Stock and (ii) &#147;fair market value&#148; per share of the
Convertible Preferred Stock, which shall be determined in accordance with standard
appraisal methods and generally accepted accounting principles (the &#147;Put Price&#148;).
For the purposes of this Section 2.2.11, the appraised fair market value of
shares of Convertible </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='14',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preferred Stock shall be the
amount of cash for which such shares could be sold (taking into account the
restrictions on transfer imposed by this Agreement) to a willing buyer.&#160; Such appraised fair market value shall be
determined as follows: within 30 days after the date of the Put Notice, the
Corporation shall appoint one appraiser with such experience, expertise and
skills as to enable him to place a reasonable and appropriate value on the
shares of Convertible Preferred Stock and the holder of Convertible Preferred
Stock shall appoint one appraiser of like qualifications. Each appraiser shall
be a member, partner, shareholder or managing director of an independent
professional appraising organization, a nationally-recognized accounting firm
or a reputable regional or national merchant or investment banking firm. Within
30 days after the second appraiser has been appointed hereunder, each of the
two appraisers shall in good faith determine the fair market value of such
shares as of the date of the Put Notice and shall give written notice of such
value to the Corporation and the holder of shares of Convertible Preferred
Stock giving such notice (&#147;Valuation Notice&#148;). The average of the values
submitted by the two appraisers shall be deemed to be the appraised fair market
value of such shares as of the Valuation Date, and such average shall be
conclusive on all parties affected thereby. In the event that either party
shall fail to appoint an appraiser within 30 days after the date of the Put
Notice, the appraiser appointed by the other party shall appraise the value of
such shares for the purposes of this Section 2.2.11. Any such value determined
by such appraiser shall be conclusive on all parties affected thereby.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Exercise.</u> The holder of shares of Convertible
Preferred Stock shall exercise its option under this Section 2.2.11 by
delivering written notice of such holder&#146;s intention to exercise such put
option (a &#147;Put Notice&#148;) to the Corporation. Such Put Notice shall specify the
number of shares such holder shall put. The rights of the holders of
Convertible Preferred Stock to require the redemption of shares of Convertible
Preferred Stock by the Corporation pursuant to this Section 2.2.11 shall lapse
after 180 days after the Put Date in the event that such holder fails to
deliver a Put Notice for redemption pursuant to Section 2.2.11(a) as provided
herein.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 2.3. <u>Shares
Acquired by the Corporation</u>. Shares of Common Stock that have been acquired
by the Corporation shall become treasury shares and may be resold or otherwise
disposed of by the Corporation for such consideration, not less than the par
value thereof, as shall be determined by the Board of Directors, unless or
until the Board of Directors shall by resolution provide that any or all
treasury shares so acquired shall constitute authorized, but unissued shares.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No shareholder shall have any preemptive
right to subscribe for or to purchase any shares or other securities issued by
the Corporation.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .25pt;text-indent:35.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 4.1. <u>Personal Liability of Directors</u>.&#160; No director of the Corporation shall be
personally liable to the Corporation or its shareholders for monetary damages
for breach of duty of care or other duty as a director, except for liability
(i) for any appropriation, in violation of the director&#146;s duties, of any
business opportunity of the Corporation, (ii) for acts or omissions which </font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='15',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt .25pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">involved
intentional misconduct or a knowing violation of law, (iii) for the types of
liabilities set forth in Section 14-2-832 of the Georgia Business Corporation
Code, or (iv) for any transaction from which the director derived an improper
personal benefit.&#160; If the Georgia
Business Corporation Code is amended to authorize corporate action further
eliminating or limiting the personal liability of directors, then the liability
of a director of the Corporation shall be eliminated or limited to the fullest
extent permitted by the Georgia Business Corporation Code, as amended.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .95pt;text-indent:35.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 4.2. <u>Effect of Repeal or Modification</u>. Neither the
repeal or modification of this Article 4 nor the adoption of any provision of
these Articles of Incorporation inconsistent with these Articles shall
eliminate or adversely affect any right or protection of a director of the
Corporation existing immediately prior to such repeal, modification or
adoption.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .25pt;text-indent:35.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.1.&#160; <u>Number of
Directors</u>. Subject to the rights of the holders of any series of Preferred
Stock to elect additional directors under specified circumstances, the number
of directors that shall constitute the Board of Directors of the Corporation
shall be determined from time to time exclusively by the Board of Directors
pursuant to a resolution adopted by a majority of the entire Board.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.2. <u>Classified
Board</u>. The directors of the Corporation (other than any directors who may
be elected by holders of any series of Preferred Stock then outstanding) shall
be and are divided into three classes: Class I, Class II and Class III. The
number of directors in each class shall be as nearly equal as the
then-authorized number of directors constituting the Board of Directors
permits. Each director shall serve for a term ending on the date of the third
annual meeting following the annual meeting at which such director was elected;
<u>provided</u>, <u>however</u>, that the directors first elected to Class I
shall serve for a term ending on the date of the annual meeting next following
the end of the calendar year 1994, the directors first elected to Class II
shall serve for a term ending on the date of the second annual meeting next
following the end of the calendar year 1994, and the directors first elected to
Class III shall serve for a term ending on the date of the third annual meeting
next following the end of the calendar year 1994. Any director who may be
elected by holders of any series of Preferred Stock then outstanding shall
serve for a term ending on the date of the next annual meeting following the
annual meeting at which such director was elected.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .5pt;text-indent:35.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.3.&#160; <u>Increase or
Decrease in Authorized Number of Directors</u>.&#160;
In the event of any increase or decrease in the authorized number of
directors:</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each director then serving shall nevertheless continue as
a director of the class of which he is a member until the expiration of his
term, or his prior death, retirement, resignation or removal; and</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Newly-created or eliminated directorships resulting from
any increase or decrease shall be apportioned by the Board of Directors among
the three classes so as to keep the number of directors in each class as nearly
equal as possible.</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='16',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt 1.45pt;text-indent:34.55pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.4.&#160; <u>Removal</u>.
Subject to the rights of the holders of any series of Preferred Stock then
outstanding, any or all Directors may be removed from office at any time for
cause, but only by the same affirmative vote of the shareholders required to
amend this Article 5 as provided in Section 9.2 of these Articles of
Incorporation.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .95pt;text-indent:35.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 5.5.&#160; <u>Vacancies</u>.
Subject to the rights of the holders of any series of Preferred Stock then
outstanding to fill director vacancies, vacancies on the Board of Directors
(including vacancies resulting from retirement, resignation, removal from
office or death) shall be filled exclusively by the Board of Directors. Any
director so elected shall hold office until the next annual meeting of
shareholders.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:58.15pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In discharging the duties of
their respective positions and in determining what is believed to be in the best
interests of the Corporation, the Board of Directors, committees of the Board
of Directors, and individual directors, in addition to considering the effects
of any action on the Corporation or its shareholders, may consider the
interests of the employees, customers, suppliers and creditors of the
Corporation and its subsidiaries, the communities in which offices or other
establishments of the Corporation and its subsidiaries are located, and all
other factors such directors consider pertinent; <u>provided</u>, <u>however</u>,
that this provision solely grants discretionary authority to the directors and
no constituency shall be deemed to have been given any right to consideration
hereby.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .7pt;text-indent:57.15pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Any action required or permitted to be taken at a shareholders&#146; meeting
may be taken without a meeting if the action is taken by all of the
shareholders entitled to vote on the action, or by persons who would be
entitled to vote at a meeting those shares having voting power to cast not less
than the minimum number (or numbers, in the case of voting by groups) of votes
that would be necessary to authorize or take such actions at a meeting at which
all shares entitled to vote were present and voted.&#160; The action must be evidenced by one or more
written consents describing the action taken, signed by shareholders entitled
to take action without a meeting and delivered to the Corporation for inclusion
in the minutes or filing with the corporate records.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .25pt;text-indent:35.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The mailing address of the principal office of the Corporation is 1600
RiverEdge Parkway, Suite 100, Fulton County, Atlanta, Georgia 30328.</font></p>

<p align="center" style="background:white;margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt .5pt;text-indent:35.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.1. <u>Amendment</u>.&#160;
These Articles of Incorporation may not be amended without the
affirmative vote of at least a majority of the shares entitled to vote
generally in the election of directors, voting as a single voting group.</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='17',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->
<br clear="all" style="page-break-before:always;">



<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Section 9.2. <u>Supermajority
Vote Required for Certain Amendments</u>. Notwithstanding anything to the
contrary in these Articles of Incorporation or the Bylaws of the Corporation
and subject to the rights of holders of any series of Preferred Stock then
outstanding (and notwithstanding that a lesser percentage may be specified by
law, these Articles of Incorporation or the Bylaws of the Corporation), (i) the
affirmative vote of the holders of at least 75% of the shares of the Corporation
entitled to vote generally in the election of directors, voting as a single
voting group, shall be required to alter, amend or repeal, or adopt any
provisions inconsistent with, Article 4, Article 5 or this Section 9.2 of these
Articles of Incorporation, and (ii) Article II of the Bylaws of the Corporation
shall not be altered, amended or repealed, and no provision inconsistent
therewith shall be adopted, without the affirmative vote of a majority of the
entire Board of Directors or of the holders of at least 75% of the shares of
the Corporation entitled to vote generally in the election of directors, voting
as a single voting group.</font></p>

<p style="background:white;margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">18</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='18',FILE='C:\fc\51214731848_P92010_1737643\4347-1-ke.htm',USER='jmsproofassembler',CD='Feb 20 21:47 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>a07-4347_1ex5d1.htm
<DESCRIPTION>OPINION AS TO LEGALITY
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT
5.1</font></u></b></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[LETTERHEAD OF DLA
PIPER US LLP]<br>
1201 West Peachtree Street, Suite 2800, Atlanta, GA&#160; 30309</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="36%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:36.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Phone:
  404-736-7800</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:31.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fax:
  404-736-7800</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:31.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.dlapiper.com</font></p>
  </td>
 </tr>
</table>

<p align="left" style="color:blue;margin:12.0pt 0pt;text-align:left;text-indent:216.0pt;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">February 27, 2007</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->A.D.A.M., INC.</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1600 RiverEdge Parkway, Suite 100</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Atlanta, Georgia 30328-4696</font></p>
  </td>
 </tr>
</table>

<p style="margin:12.0pt 0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Registration Statement on Form S-8</u></font></p>

<p style="margin:12.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have acted as counsel to A.D.A.M., Inc., a Georgia corporation (the &#147;Company&#148;),
in connection with the preparation of a Registration Statement on Form S-8 (the
&#147;Registration Statement&#148;) registering <font style="letter-spacing:-.15pt;">185,830
</font>shares of common stock of the Company, par value $0.01 per share (the &#147;Shares&#148;),
issuable under the A.D.A.M., Inc. 2002 Stock Incentive<font style="letter-spacing:-.15pt;"> Plan</font> (the &#147;Plan&#148;).</font></p>

<p style="margin:12.0pt 0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have examined copies
of the Company&#146;s charter and bylaws, as in effect on the date hereof, the Plan,
all resolutions adopted by the Company&#146;s Board of Directors and proposals
adopted by the Company&#146;s stockholders relating to the authorization of the
issuance of the Shares and such other records and documents that we have deemed
necessary for the purpose of rendering this opinion.&#160; In such examination of the aforesaid
documents, we have assumed, without independent investigation, the genuineness
of all signatures, the legal capacity of all individuals who have executed any
of the aforesaid documents, the authenticity of all documents submitted to us
as originals, the conformity with originals of all documents submitted to us as
copies (and the authenticity of the originals of such copies), and the accuracy
and completeness of all public records reviewed by us.&#160; As to factual matters material to this
opinion, we have relied on statements and certificates of officers of the
Company.</font></p>

<p style="margin:12.0pt 0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Based upon the foregoing,
we are of the opinion that the Shares issuable under the Plan have been duly
authorized and, when issued, sold and delivered as authorized by the Board of
Directors of the Company, will be validly issued, fully paid and
non-assessable.</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\585560257_D11431_1776075\4347-1-kg.htm',USER='jmsproofassembler',CD='Feb 27 05:56 2007' -->
<br clear="all" style="page-break-before:always;">


<p style="margin:12.0pt 0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The opinion set forth
herein is limited to matters governed by the laws of the State of Georgia and
no other opinion should be inferred beyond the matters expressly stated.&#160; We hereby consent to the filing of this
opinion as an exhibit to the Registration Statement.&#160; This opinion may not be relied on by any
other person or in any other connection without our prior written approval.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.46%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="53%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DLA PIPER US LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="53%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ DLA Piper US LLP</font></p>
  </td>
  <td width="34%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:34.76%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\585560257_D11431_1776075\4347-1-kg.htm',USER='jmsproofassembler',CD='Feb 27 05:56 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>a07-4347_1ex23d2.htm
<DESCRIPTION>EX-23.2
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">EXHIBIT 23.2</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:center;text-transform:uppercase;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;">CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have issued our Report dated March 10, 2006, accompanying the
consolidated financial statements as of and for the years ended December 31,
2005 and 2004, included in the Annual Report of A.D.A.M., Inc., and
subsidiaries on Form 10-KSB for the year ended December 31, 2005, which are
included and incorporated by reference in this Registration Statement.&#160; We consent to the inclusion and incorporation
by reference in the Registration Statement of the aforementioned Report.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="19%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:19.86%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->/s/ Tauber &amp; Balser P.C.</p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Atlanta, Georgia</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="100%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:100.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;26, 2007</font></p>
  </td>
 </tr>
</table>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;text-transform:uppercase;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;text-transform:none;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\5855723751_D11431_1776075\4347-1-ki.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.3
<SEQUENCE>5
<FILENAME>a07-4347_1ex23d3.htm
<DESCRIPTION>EX-23.3
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit 23.3</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CONSENT OF INDEPENDENT AUDITORS</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We
consent to the incorporation by reference in this Registration Statement on
Form&nbsp;S-8 of A.D.A.M.,&nbsp;Inc. (the &#147;Company&#148;) of our report dated June
2, 2006 relating to the consolidated financial statements of OnlineBenefits,
Inc. and Subsidiaries as of and for the years ended December&nbsp;31, 2005 and
2004, which was previously filed as an exhibit to the Company&#146;s Current Report
on Form 8-K, as amended, filed on August 16, 2006.</font></p>

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;">
 <tr style="page-break-inside:avoid;">
  <td width="95" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:71.6pt;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;"><!-- SET mrlHTMLTableLeft --><!-- SET mrlNoTableShading -->/s/ Berenson LLP</p>
  </td>
  <td width="7" valign="top" style="padding:0pt .7pt 0pt 0pt;width:5.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="513" valign="top" style="padding:0pt .7pt 0pt 0pt;width:384.7pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.4pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="615" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:461.3pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York, New York</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.4pt;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="615" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:461.3pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">February&nbsp;26, 2007</font></p>
  </td>
  <td width="16" valign="top" style="padding:0pt .7pt 0pt 0pt;width:12.0pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.4pt;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

<!-- SEQ.=1,FOLIO='',FILE='C:\fc\5855742396_D11431_1776075\4347-1-kk.htm',USER='jmsproofassembler',CD='Feb 27 05:57 2007' -->


</body>

</html>
</TEXT>
</DOCUMENT>
</SUBMISSION>
