DUANE STREETCORP.

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BY-LAWS

 

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A Delaware Corporation

 

ARTICLE I

 

OFFICES

 

Section 1

 

The registered office of the Corporation in the State of Delaware shall be located in the City and State designated in the Certificate of Incorporation.

 

Section 2

 

The corporation may also have offices at such other places both within and without the state of Delaware as the Board of Directors may from time to time determine or the business of the corporation may require.

 

ARTICLE II

 

ANNUAL MEETINGS OF SHAREHOLDERS

 

Section 1

 

All meetings of shareholders for the election of directors shall be held at such time and at such place, either within or without the State of Delaware, as may be fixed from time to time by the Board of Directors.The Board of Directors may, in its sole discretion, determine that the meeting shall not be held at any place, but may instead be held solely by means of remote communication as authorized by Article IV, Section 6 of these Bylaws. Unless directors are elected by written consent in lieu of an annual meeting as permitted by Article IV, Section 5 of these Bylaws, an annual meeting of the stockholders for the election of the directors shall be held on a date and a time as shall be designated by the Board of Directors and stated in the notice of the meeting. Any other proper business may be transacted at the annual meeting.

 

 

Section 2

 

Written or printed notice of the annual meeting stating the place, date and hour of the meeting shall be delivered not less than ten nor more than sixty days before the date of the meeting, either personally or by mail, by or at the direction of the president, the secretary, or the officer or persons calling the meeting, to each shareholder of record entitled to vote at such meeting.

 

Section 3

 

The officer who has charge of the stock ledger of the corporation shall prepare and make, or cause a third party to prepare and make, at least 10 days before every meeting of the stockholders, a complete list of the stockholders entitled to vote at the meeting, arranged in alphabetical order, and showing the address of each stockholder and the number of shares registered in the name of each stockholder.

 

ARTICLE III

 

SPECIAL MEETINGS OF SHAREHOLDERS

 

Section 1

 

Special meetings of shareholders may be held at such time and place within or without the State of Delaware as shall be stated in the notice of the meeting or in a duly executed waiver of notice thereof.

 

Section 2

 

Special meetings of the shareholders, for any purpose or purposes, unless otherwise prescribed by statute or by the certificate of incorporation, may be called by the chairman or the president or vice president(if any) or secretary at the request in writing of the majority of the members of the Board of Directors or holders of a majority of the total voting power of all outstanding shares of stock of this corporation then entitled to vote, and may not be called by the stockholders absent such request. Any such request shall state the purpose or purposes of the proposed meeting.

 

Section 3

 

Written or printed notice of a special meeting stating the place, date and hour of the meeting and the purpose or purposes for which the meeting is called, shall be delivered not less than ten nor more than sixty days before the date of the meeting, either personally or by mail, by, or at the direction of, the chairman or the president or vice president, to each shareholder of record entitled to vote at such meeting. The notice should also indicate that it is being issued by, or at the direction of, the person calling the meeting.

 

 

Section 4

 

The business transacted at any special meeting of shareholders shall be limited to the purposes stated in the notice.

 

Section 5

After fixing a record date for a meeting, the officer who has charge of the stock ledger of the Corporation, shall prepare an alphabetical list of the names of all its shareholders entitled to notice of the meeting, arranged by voting group with the address of and the number, class, and series, if any, of shares held by each shareholder. The stock ledger shall be the only evidence as to who are the shareholders entitled to examine the stock ledger, the list required by Section 219 of the Delaware General Corporation Law or the books of the Corporation, or to vote in person or by proxy at any shareholders’ meeting.

 

ARTICLE IV

 

QUORUM AND VOTING OF STOCK

 

Section 1

 

The holders of a majority of the shares of stock issued and outstanding and entitled to vote, represented in person or by proxy, shall constitute a quorum at all meetings of the shareholders for the transaction of business except as otherwise provided by statute or by the certificate of incorporation.If, however, such quorum shall not be present or represented atany meeting of the shareholders, the shareholders present inperson or represented by proxy shall have power to adjourn themeeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented.At such adjourned meeting at which a quorum shall be present orrepresented any business may be transacted which might have beentransacted at the meeting as originally notified. If the adjournment is for more than 30 day, or if after the adjournment a new record date is fixed for the adjourned meeting, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting as provided in Section 3 of Article III.

 

Section 2

If a quorum is present, the affirmative vote of a majority of the shares of stock represented at the meeting shall be the act of the shareholders, unless the vote of a greater or lesser number of shares of stock is required by law or the certificate of incorporation.

 

 

Section 3

Each outstanding share of stock having voting power shall be entitled to one vote on each matter submitted to a vote at a meeting of shareholders. A shareholder may vote either in person or by proxy executed in writing by the shareholder or by his duly authorized attorney-in-fact.

 

Section 4

The Board of Directors in advance of any shareholders' meeting may appoint one or more inspectors to act at the meeting or any adjournment thereof. If inspectors are not so appointed, the person presiding at a shareholders' meeting may, and, on the request of any shareholder entitled to vote there-at, shall appoint one or more inspectors. In case any person appointed as inspector fails to appear or act, the vacancy may be filled by the Board in advance of the meeting or at the meeting by the person presiding thereat. Each inspector, before entering upon the discharge of his duties, shall take and sign an oath faithfully to execute the duties of inspector at such meeting with strict impartiality and according to the best of his ability.

 

Section 5

Unless otherwise provided in the certificate of incorporation, any action required to be taken at an annual meeting or special meeting of the stockholders of the corporation, or any action which may be taken at any annual meeting or special meeting, may be taken without a meeting, without prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted and shall be delivered to the corporation by delivery to its registered office in Delaware, to its principal place of business, or to an officer or agent of the corporation having custody of the book in which proceedings of meetings are recorded.

 

Section 6

Unless otherwise restricted in the certificate of incorporation or these Bylaws, the Board of Directors may in its sole discretion permit stockholders to participate in meetings of stockholders by means of remote communication and shall be deemed present in person and permitted to vote at such meeting, provided that (i) the corporation shall implement reasonable measures to verify that each person deemed present in person and permitted to vote at such meeting by means of remote communication is a stockholder, (ii) the corporation shall implement reasonable measures to provide such stockholders a reasonable opportunity to participate in such meeting and to vote on matters submitted to the stockholders, and (iii) if any stockholder votes or takes action at such meeting by means of remote communication, a record of such vote or other action shall be maintained by the corporation.

 

 

ARTICLE V

 

DIRECTORS

 

Section 1

The first Board of Directors and all subsequent Boards of the Corporation shall consist of at least one person, unless and until otherwise determined by vote of a majority of the entire Board of Directors. Directors shall be at least eighteen years of age and need not be residents of the State of Delawarenor shareholders of the corporation. The directors, other than the first Board of Directors, shall be elected at the annual meeting of the shareholders, except as hereinafter provided, and each director elected shall serve until the next succeeding annual meeting and until his successor shall have been elected and qualified. The first Board of Directors shall hold office until thefirst annual meeting of shareholders.

 

Section 2

Any or all of the directors may be removed, with or without cause, at any time by the vote of the shareholders at a special meeting called for that purpose. Any director may be removed for cause by the action of the directors at a special meeting called for that purpose. If elected by cumulative voting, a director may be removed

only by the shareholders and then only when the votes cast against his removal would not be sufficient to elect him if voted cumulatively at an election at which the same total number of votes were cast and the entire Board or the entire class of directors of which he is a member were then being elected. If the director being removed was elected by the holders of the shares of any class or series he cannot be removed by the directors and may be removed only by the applicable vote of the holders of shares of that class or series, voting as a class.

 

Section 3

Unless otherwise provided in the certificate of incorporation, newly created directorships resulting from an increase in the Board of Directors either created by the Board of Directors or the shareholders and all vacancies occurringin the Board of Directors, including vacancies caused by removalwithout cause, may be filled by the affirmative vote of a majorityof the Board of Directors, however, if the number of directorsthen in office is less than a quorum then such newly createddirectorships and vacancies may be filled by a vote of a majorityof the directors then in office. A director elected to fill a vacancy shall hold office until the next meeting of shareholders at which election of directors is the regular order of business, and until his successor shall have been elected and qualified.A director elected to fill a newly created directorship shall serveuntil the next succeeding annual meeting of shareholders and untilhis successor shall have been elected and qualified.

 

 

Section 4

The business affairs of the corporation shall be managed by its Board of Directors which may exercise all such powers of the corporation and do all such lawful acts and things as are not by statute or by the certificate of incorporation or by these by-laws directed or required to be exercised or done by the shareholders.

 

Section 5

The compensation of the officers of the Corporation shall be fixed from time to time by the Board of Directors.

 

ARTICLE VI

 

MEETINGS OF THE BOARD OF DIRECTORS

 

Section 1

Meetings of the Board of Directors, regular or special,may be held either within or without the State of Delaware.

 

Section 2

The first meeting of each newly elected Board of Directorsshall be held at such time and place as shall be fixed by thevote of the shareholders at the annual meeting and no noticeof such meeting shall be necessary to the newly electeddirectors in order legally to constitute the meeting,provided a quorum shall be present, or it may convene at suchplace and time as shall be fixed by the consent in writing of allthe directors. In the event that such meeting is not held at such time, the meeting may be held at such time and place as shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors, or as shall be specified in a written waiver signed by all of the directors.

 

Section 3

Regular meetings of the Board of Directors may be held upon such notice, or without notice, and at such time and at such placeas shall from time to time be determined by the Board.

 

 

Section 4

Special meetings of the Board of Directors may be called bythe chairman or the president on one (1) days notice toeach director personally or by mail, or on two (2)days notice to each director by telegram, telefax, telecopier or telephone; special meetings shall be called by the chairman, the president or secretary in like manner and on like notice on the written request of two directors.

 

Section 5

Notice of a meeting need not be given to any director whosubmits a signed waiver of notice whether before or after the meeting, or who attends the meeting without protesting, prior thereto or at its commencement, the lack of notice. Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the Board of Directors need be specified in the notice or waiver of notice of such meeting.

 

Section 6

A majority of the directors shall constitute a quorum for the transaction of business unless a greater or lesser number isrequired by law or by the certificate of incorporation. The vote of a majority of the directors present at anymeeting at which a quorum is present shall be the act of theBoard of Directors, unless the vote of a greater number isrequired by law or by the certificate of incorporation.If a quorum shall not be present at any meeting of directors,the directors present may adjourn the meeting from time to time,without notice other than announcement at the meeting, until a quorum shall be present.

 

Section 7

Unless the certificate of incorporation provides otherwise,any action required or permitted to be taken at a meetingof the directors or a committee thereof may be takenwithout a meeting if a consent in writing to the adoption of aresolution authorizing the action so taken, shall be signed byall of the directors entitled to vote with respect to the subjectmatter thereof.

 

Section 8

Unless otherwise restricted by the certificate of incorporationor these by-laws, members of the Board of Directors, may participate in a meeting of the Board of Directors or any committee by means of conference telephone or anyother communications equipment by means of which all persons participating in ameeting can hear each other and such participation in a meeting shall constitute presence in person at the meeting.

 

 

ARTICLE VII

 

EXECUTIVE COMMITTEE

 

Section 1

The Board of Directors, by resolution adopted by a majority ofthe entire board, may designate, from among its members,one or more committees, each consistingof one or more directors, and each of which, tothe extent provided in the resolution, shall have all the authorityof the board, except as otherwise required by law.

 

Vacancies in the membership of the committee shall be filled bythe Board of Directors at a regular or special meeting of the Board of Directors. Each committee shall keep regular minutes ofits proceedings and report the same to the board when required.

 

ARTICLE VIII

 

NOTICES

 

Section 1

Whenever, under the provisions of the statutes or of the certificate of incorporation or of these Bylaws, notice is required to be given to any director or stockholder, it shall not be construed to mean personal notice, but such notice may be given in writing, by electronic transmission when such director or stockholder has consented to the delivery of notice in such form or in writing by mail, addressed to such director or stockholder, at his address as it appears on the records of the corporation, with postage thereon prepaid, and such notice shall be deemed to be given at the time when the same shall be deposited in the United States mail. Notice given by electronic transmission shall be deemed given: (a if by facsimile telecommunication, when directed to the number at which a stockholder or director has consented to receive notice; (by) if by electronic mail, when directed to an electronic mail address at which a stockholder or director has consented to receive notice to directors may also be given by telegram, telefax, telecopier or telephone.

 

Section 2

Whenever any notice of a meeting is required to be given underthe provisions of the statutes or under the provisions of the certificate of incorporation or these by-laws, a waiver thereof in writing signed by the person or persons entitled to such notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

 

 

ARTICLE IX

 

OFFICERS

 

Section 1

The officers of the corporation shall be chosen by the Board of Directors and shall be a president, a secretary and a treasurer. The Board of Directors in its discretion may also elect a Chairman of the board of directors. The Board of Directors may also choose one or more vice-presidents, and one or more assistant secretaries and assistant treasurers.

 

Section 2

The Board of Directors at its first meeting after each annualmeeting of shareholders shall choose a president, a secretaryand a treasurer, none of whom need be a member of the board.Any two or more offices may be held by the same person, except the offices of president and secretary. Notwithstanding the above, when all the issued and outstanding stock of the corporation is owned by one person, such person may hold all or any combination of offices.

 

Section 3

The Board of Directors may appoint such other officers andagents as it shall deem necessary who shall hold their officesfor such terms and shall exercise such powers and perform suchduties as shall be determined from time to time by the Board of Directors.

 

Section 4

The salaries of all officers and agents of the corporation shall be fixed by the Board of Directors.

 

Section 5

The officers of the corporation shall hold office until their successors are chosen and qualify. Any officer elected or appointed by the board of directors may be removed at any time by the affirmative vote of a majority of the board of directors. Any vacancy occurring in any office of the corporation shall be filled by the Board of Directors.

 

CHAIRMAN OF THE BOARD OF DIRECTORS

 

Section 6

The Chairman of the Board of Directors shall be a director andshall preside at all meetings of the Board of Directors at whichhe shall be present, and shall have such power and perform suchduties as may from time to time be assigned to him by theBoard of Directors.

 

 

THE PRESIDENT

 

Section 7

The president shall be the chief executive officer of thecorporation, shall preside at all meetings of the shareholders and, in the absence of the Chairman of the Board of Directors, the Board of Directors shall have general and active management of the business of the corporation and shall see that all orders and resolutions of the board of directors are carried into effect.He shall have the power to call special meetings of the stockholders or of the Board of Directors or of the ExecutiveCommittee at any time.

 

Section 8

The President shall execute bonds, mortgages and othercontracts, except where required or permitted by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated by the Board of Directors to some other officer or agent of the corporation.

 

THE VICE-PRESIDENTS

 

Section 9

The vice-president or, if there shall be more than one,the vice-presidents in the order determined by the board ofdirectors, shall, in the absence or disability of thepresident, perform the duties and exercise the powers of thepresident and shall perform such other duties and have such otherpowers as the Board of Directors may from time to time prescribe.

 

THE SECRETARY AND ASSISTANT SECRETARIES

 

Section 10

The secretary shall attend all meetings of the Board of Directorsand all meetings of the shareholders and record all the proceedings of the meetings of the corporation and of the Board of Directorsin a book to be kept for that purpose and shall perform like dutiesfor the standing committees when required. He shall give, or cause to be given, notice of all meetings of the shareholders and special meetings of the Board of Directors, and shall perform such other duties as may be prescribed by the Board of Directors or president, under whose supervision he shall be.

 

 

Section 11

The assistant secretary or, if there be more than one, theassistant secretaries in the order determined by the Boardof Directors, shall, in the absence or disability ofthe secretary, perform the duties and exercise the powers of thesecretary and shall perform such other duties and have such otherpowers as the Board of Directors may from time to time prescribe.

 

THE TREASURER AND ASSISTANT TREASURERS

 

Section 12

The treasurer shall have the custody of the corporate fundsand securities and shall keep full and accurate accounts ofreceipts and disbursements in books belonging to thecorporation and shall deposit all moneys and other valuableeffects in the name and to the credit of the corporation in suchdepositories as may be designated by the Board of Directors.

 

Section 13

He shall disburse the funds of the corporation as may be ordered by the Board of Directors, taking proper vouchers for such disbursements, and shall render to the president and the Board of Directors at its regular meetings, or when the Board of Directors so requires, an account of all his transactions as treasurer and of the financial condition of the corporation.

 

Section 14

If required by the Board of Directors, he shall give the corporation a bond in such sum and with such surety or sureties as shall be satisfactory to the board of directors for the faithful performance of the duties of his office and for the restoration to the corporation, in case of his death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control belonging to the corporation.

 

Section 15

The assistant treasurer, or, if there shall be more than one,the assistant treasurers in the order determined by theBoard of Directors, shall, in the absence or disability of thetreasurer, perform the duties and exercise the powers of thetreasurer and shall perform such other duties and have such otherpowers as the Board of Directors may from time to time prescribe.

 

 

ARTICLE X

 

CERTIFICATES FOR SHARES

 

Section 1

The shares of the corporation shall be represented by certificatessigned by the chairman or vice-chairman of the board or the president or a vice-president and the secretary or an assistant secretary or the treasurer or an assistant treasurer of the corporation. When the corporation is authorized to issue shares of more than one class there shall be set forth upon the face or back of the certificate, or the certificate shall have a statement that the corporation will furnish to any shareholder uponrequest, thedesignation, relative rights, preferences and limitations of eachsuch series so far as the same have been fixed and the authorityof the board of directors to designate and fix the relative rights,preferences and limitations of other series.

 

Section 2

The signatures of the officers of the corporation upon a certificate may be facsimiles if the certificate is countersigned by a transfer agent or registered by a registrar other than the corporation itself or an employee of the corporation. In case any officer who has signed or whose facsimile signature has beenplaced upon a certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the corporation with the same effect as if he were such officer at thedate of issue.

 

LOST CERTIFICATES

 

Section 3

The board of directors may direct a new certificate to be issued in place of any certificate theretofore issued by the corporation alleged to have been lost or destroyed. When authorizing such issue of a new certificate, the board of directors, in its discretion and as a condition precedent to the issuance thereof, may prescribe such terms and conditions as it deems expedient, and may require such indemnities as it deems adequate, to protect the corporation from any claim that may be made against it with respect to any such certificate alleged to have been lost or destroyed.

 

TRANSFERS OF SHARES

 

Section 4

Upon surrender to the corporation or the transfer agentof the corporation of a certificate representing shares dulyendorsed or accompanied by proper evidence of succession,assignment or authority to transfer, a new certificateshall be issued to the person entitled thereto, and the oldcertificate cancelled and the transaction recorded upon thebooks of the corporation.

 

 

FIXING RECORD DATE

 

Section 5

For the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof, or to express consent to or dissent from any proposal without a meeting, or for the purpose of determining shareholders entitled to receive payment of any dividend or the allotment of any rights, or for the purpose of any other action, the Board of Directors may fix, in advance, a date as the record date for any such determination of shareholders. Such date shall not be more than fifty nor less than ten days before the date of any meeting nor more than sixty days prior to any other action. When a determination of shareholders of record entitled to notice of or to vote at any meeting of shareholders has been made as provided in this section, such determination shall apply to any adjournment thereof, unless the board fixes a new record date for the adjourned meeting.

 

REGISTERED SHAREHOLDERS

 

Section 6

The corporation shall be entitled to recognize the exclusive rightof a person registered on its books as the owner of shares toreceive dividends, and to vote as such owner, and to hold liablefor calls and assessments a person registered on its books asthe owner of shares, and shall not be bound to recognize anyequitable or other claim to or interest in such share or shareson the part of any other person, whether or not it shall haveexpress or other notice thereof, except as otherwise provided by the laws of Delaware.

 

LIST OF SHAREHOLDERS

 

Section 7

A list of shareholders as of the record date, certified by thecorporate officer responsible for its preparation or by a transferagent, shall be produced at any meeting upon the request thereator prior thereto of any shareholder. If the right to vote at anymeeting is challenged, the inspectors of election, or personpresiding thereat, shall require such list of shareholders to beproduced as evidence of the right of the persons challenged tovote at such meeting and all persons who appear from suchlist to be shareholders entitled to vote thereat may vote at such meeting.

 

 

ARTICLE XI

 

GENERAL PROVISIONS

 

DIVIDENDS

 

Section 1

Subject to the provisions of the certificate of incorporation relating thereto, if any, dividends may be declared by the Board of Directors at any regular or special meeting, pursuant to law.

Dividends may be paid in cash, in shares of the capital stock or in the corporation's bonds or its property, including the shares or bonds of other corporations subject to any provisions of law and of the certificate of incorporation.

 

Section 2

Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends such sum or sums as the directors from time to time, in their absolute discretion, think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the directors shall think conducive to the interest of the corporation, and the directors may modify or abolish any such reserve in the manner in which it was created.

 

CHECKS

 

Section 3

All checks or demands for money and notes of the corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.

 

FISCAL YEAR

 

Section 4

The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

 

 

ARTICLE XII

INDEMNIFICATION

 

INDEMNIFICATION OF DIRECTORS AND OFFICERS

 

Section 1

The corporation shall, to the maximum extent and in the manner permitted bythe General Corporation Law ofDelaware as the same now exists or may hereafterbe amended, indemnify any person against expenses (including attorneys' fees),judgments, fines, and amounts paid in settlement actually and reasonablyincurred in connection with any threatened, pending or completed action, suit,or proceeding in which such person was or is a party oris threatened to be madea party by reason of the fact that such person is or was a director or officerof the corporation. For purposes of this Section 1, a "director" or "officer"of the corporation shall mean any person (i) who is or was a director or officerof thecorporation, (ii) who is or was serving at the request of the corporationas a director or officer of another corporation, partnership, joint venture,trust or otherenterprise, or (iii) who was a director or officer of acorporation which was a predecessor corporation of the corporation or of anotherenterprise at the request of such predecessor corporation.

 

The corporation shall be required to indemnify a director or officer inconnection with an action, suit, or proceeding (or part thereof) initiated bysuchdirector or officer only if the initiation of suchaction, suit, orproceeding (or part thereof) by the director or officer was authorized by theBoard of Directors of the corporation.

 

The corporation shall pay the expenses (including attorney's fees) incurredby a director or officer of the corporation entitled to indemnificationhereunder in defending any action, suit or proceeding referred to in this Section 1 in advance of its final disposition; provided, however, that paymentof expenses incurred by a director or officer of the corporation in advance ofthe finaldisposition of such action, suit or proceeding shall be made only upon receiptof an undertaking by the director or officer to repay all amounts advanced if itshould ultimately be determined that the director of officer is not entitled tobe indemnified under this Section 1 or otherwise.

 

The rights conferred on any person by this Article shall not be exclusive ofany other rights which such person may have or hereafter acquire under anystatute, provision of the corporation's Certificate of Incorporation, these Bylaws, agreement, vote of the stockholders or disinterested directors orotherwise.

 

Any repeal or modification of the foregoing provisions of this Article shallnot adversely affect any right or protection hereunder of any person in respectof any act or omission occurring prior to the time of such repeal ormodification.

 

 

INDEMNIFICATION OF OTHERS

 

Section 2

The corporation shall have the power, to the maximum extent and in the mannerpermitted by the General Corporation Law of Delaware as the same now exists ormay hereafter be amended, to indemnify any person (other than directors andofficers) against expenses (including attorneys' fees), judgments, fines, andamounts paid in settlement actually and reasonably incurred in connection withany threatened, pending or completed action, suit, or proceeding, in which suchperson was or is a party or is threatened to be made a party by reason of thefact that such person is or was an employee or agent of the corporation. Forpurposes of this Section 2, an "employee" or "agent" of the corporation (otherthan a director or officer) shall mean any person (i) who is or was an employeeor agent of the corporation, (ii) who is or was serving at the request of thecorporation as an employee or agent of another corporation, partnership, jointventure, trust or other enterprise, or (iii) who was an employee or agent of acorporation which was a predecessor corporation of the corporation or of anotherenterprise at the request of such predecessor corporation.

 

INSURANCE

 

Section 3

The corporation may purchase and maintain insurance on behalf of any personwho is or was a director, officer, employee or agent of the corporation, or isor was serving at the request of the corporation as a director, officer,employee or agent of another corporation, partnership, joint venture, trust orother enterprise against any liability asserted against him or her and incurredby him or her in any such capacity, or arising out of his or her status as such,whether or not the corporation would have the power to indemnify him or heragainst such liability under the provisions of the General Corporation Law ofDelaware.

 

ARTICLE XIII

 

AMENDMENTS

 

These by-laws may be amended or repealed or new by laws may be adopted by the Board of Directors or at any regular or special meeting of shareholders at which a quorum is present or represented, by the vote of the holders of shares entitled to vote in the election of any directors, provided notice of the proposed alteration, amendment or repeal be contained in the notice of such meeting.

 

 

ARTICLE XIII

 

No contract or transaction shall be void or void-able if such contract or transaction is between the Corporation and one or more of its Directors or Officers, or between the Corporation and any other corporation, partnership, association, or other organization in which one or more of its Directors or Officers, are Directors or Officers, or have a financial interest, when such Director or Officer is present at or participates in the meeting of the board or committee which authorizes the contract or transaction or his/her votes are counted for such purpose, if:

 

(a)

the material facts as to his/her relationship or interest and as to the contract or transaction are disclosed or are known to the board of directors or the committee, and the board or committee in good faith authorizes the contract or transaction by the affirmative votes of a majority of the disinterested directors, even though the disinterested directors be less than a quorum; or

 

(b)

the material facts as to his/her relationship or relationships or interest and as to the contract or transaction are disclosed or are known to the shareholders entitled to vote thereon, and the contract or transaction is specifically approved in good faith by vote of the shareholders; or

 

(c)

the contract or transaction is fair as to the Corporation as of the time its is authorized, approved or ratified, by the board of directors, a committee or the shareholders. Such interested directors may be counted when determining the presence of a quorum at the board of directors or committee meeting authorizing the contract or transaction.

 

Dated: November22, 2011