NAR-03-80IC(IED) 13. 11 P olan3a Bytaws Page 4 The minte of Directors gall be three (3), but the nurober may be dt.mgad from time to time by tbe alterasien of these By-Laws. The fint Bord of Dir:cuJrs of gis corporation gall hold office unul the fint annual miming to be brd immefiatoly after the first =tua'. =eting of shareholders. Directon skatl hold office for the tern of orm (l) year, andror antil geir successon are eieeted and qualified. SECTION 2. ?ture of hteetn:t. The directors enny hold thnr meetings in niob piece or plates witlin or without the Vira talong as a majority of the Bond of Diremors «y, from time to time, detontine. SECTION 3. Motting' Meetings of tbe Bord of Directon rony be etled at *ny time by the President or Se retsry, ar by a majority of the Bord of Directers. Directurs gall be totifed in writir.g of the time, plate and psupose of all metting, of :be Board, ecept the reguler annua! =eting held irnmediately ager the gnir =eting of sharcholden, at L-ar. Uret (3) days ;mor ;beret°. Any director skall, boweve, be dermed to have waiva ach nodet by eit ault al any SECTION 4. Oirortnn. A majority of the Bord °Wire:tort s.ball constitute a gunrum for the trausaction of business, and if at ttay metting of the Bord of Directors there is less tiur: a guceurn present, a majority of tbose preses* may adjourn the motting from tine to time. SECTION 5. MgairuifArting At all meetings of the Bord ofDiretton, eng direror present shall have one vom, Un:spee:tire at the number of sbares of stock, if any, which be may hold Except as ~ise pravided by stemte, by the Certificate of Incorponition, or by theseBytaws, the action ara Inaktiv of tbe dim:tars present at ry =eting at whida a quorwu is prevent gall be the act of the Bord of Dirocton. Any action authortzed, in wrinng, by all of the &motors entitled to rote =mon and filed with the minnes of the Corporation shag be the 3Ct of the Bord of Directors with the same fora and aix as if t