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<br />ARTICLE Ill- BOARD OF DIRECfOS <br /> <br />1. Management of Corporntion not incoDsisleDl with <br />By-laws. <br /> <br />2. Performance of duties by Directors. <br /> <br />3. No Board member shall be eligible to <br />become or remain a Director who is DOl <br />a shareholder unless representing a <br />Corporate shareholder. <br /> <br />Document! <br /> <br />PAGE THREE <br /> <br />ARTICLE 111- BOARD OF DlltECTOUS <br /> <br />1. GENERAL POWERS. <br />The business :and affairs of the Corporaliou shall be <br />managed by its Board of Dilcctur.;. 'Tltc Din:ctOls shall ill all <br />t:IStS act as " board, and they mar adopt such rules aud <br />rcgulalioJlS for Ihe conducl of their uU:Clmgs and Ihe <br />management of the. Corporation, as Ihey lnay deem proper, not <br />inconsislent with these b}'laws and the laws of Ibis Slate. <br /> <br />2. PERFORMANCE OF DUTIES. <br />^ Director of tltC Corporatiou shall pcrfonn lhe <br />Director's duties as a Director, includiug the Ditl:ctor's duties <br />as a member of an}. commiuee of (be board upon which lhe <br />Direclor may scn-c, in good failh, in a manner Ille Director <br />rcasonablv bcl~cs to be in tbe best lHtCtcsts of tlle <br />Corporation, and Wilh such case as a11 ordillarily prudent <br />1lcrson in a like position would use uuder simililr <br />circumstances. In pcd"onning lhe DuCClOr's duties, a Direclor <br />shall be entilled 10 rely 011 iufomlatioD, opinions, IqJQl1S, or <br />sUltcments, including financial Slalcmcots and odlCI financial <br />dala. in caeh case prepared or presented by perseuS and groups <br />listed in para!;rapl\S (a). (b). and. (c) (Jf(IUs Pa.ragrapb 2: bUl the <br />Director shalt nol be col~iden:d 10 be acting in good failh if <br />lhe Director bas Imowlcdgc ~oiJlg die lnauct ill qUCSiioll <br />I..h.'ll would cause sucb rcJiallcc to be Iln\\4UJ3Dlcd. A perSOll <br />who so pcrfonus the Director's dt1lics sImll nol have ;Ul)' <br />li.'lbility by reason uf being or h.tYing bccu :I DirlXlor of lhe <br />Corpomrion. Those persons 3l1d groups UII wllOSC infonll:llioll. <br />opinions. reports, :lnd sl.'l(ClllCnlS ;1 Director is entiUed to rei)' <br />upon arc: <br />3. One or mOJC officers or cmplO}"CCS of the <br />COlllUmliol\ Wh\llU tIle Dil.;C\.or l~II.ilO[)" uc~h;\;.:", l~ ~,~ <br />rcliilblc and compelent in Ih.: mallets vr~lllct.i, <br />b. Counsel, public :tCcounl:mls: or Olher fi!"rsOIlS ~ !!:-" <br />llIallers wiJiclL the DilCClur cCJ.:.ouiilily It.ii.(;\'(:.; i.\l lie \., iUUli <br />such pc!sons' profc5.o;!Qnal Of C.WC1t I,;Qltl~i.I:;lK.C: OJ <br />c. A committee (Of lite !JO;lrd upon which II!:; Dil:~'':!(;~ <br />uue;; 1101 :;cp..~. duly lh;;;ibllalcd Ln a.:cold:mc.: \H!h ,1;.; <br />pJO\'i:ilOn uf lhe Alliclcs of hu:orpljmllOn Of lhc bylaws. :.15 l{r <br />m:;llCl5 wilhill ils dcsisrr.rtcd :mUloril:", which eltllllliuce Ihe <br />Dir.:clor reasonably bcliC\'cs to merit confidence. <br /> <br />J. NUl\iBER, n:NURE AND QUALlFlCATIONS. <br />The number of Dncctocs or the Corporation shall be <br />7. Each Ditcclor sl1all llold office Ulllil IDe UCXi auuu.al <br />meeting or slockholtlcls and until Ule Diro..:lol':) SUCC.c:,..\Ul <br />shall Ji:m: been elected ~nd qlmlifictl <br />L No Board member shall 'be eligible to <br />become or remain a Director who is nol a <br />stocldlolder of tile CorpotalioD. PrO'idcd. <br />however lh:d. n Din:ctor m:I}' qualify b)' <br />r~l1 of having been dcsilPl'1tcd by :l <br />person lllal is not an individual lO <br />represent such stockholder. <br />1. Wilen ~lotk ownership- i.o; hcld jointly, <br />only on..: of (he joint lltcmbcrs may be <br />elected a Director. <br />