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SIGNATURE JENNIE W KLEIN
TITLE TREASURER
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Exhibit 2.b.
Section 11. Advance Notice of Stockholder Nominees
for Director and Other Stockholder Proposals.
(a) The matters to be considered and brought before
any annual or special meeting of stockholders of the
Corporation shall be limited to only such matters,
including the nomination and election of directors,
as shall be brought properly before such meeting in
compliance with the procedures set forth in this Section 11.
(b) For any matter to be properly before any annual
meeting of stockholders, the matter must be (i)
specified in the notice of annual meeting given by
or at the direction of the Board of Directors, (ii)
otherwise brought before the annual meeting by or at
the direction of the Board of Directors or (iii) brought
before the annual meeting in the manner specified in
this Section 11(b) by a stockholder of record or a
stockholder (a "Nominee Holder") that holds voting
securities entitled to vote at meetings of stockholders
through a nominee or "street name" holder of record and
can demonstrate to the Corporation such indirect
ownership and such Nominee Holder's entitlement to
vote such securities. In addition to any other
requirements under applicable law and the Certificate
of Incorporation and By-Laws of the Corporation,
persons nominated by stockholders for election as
directors of the Corporation and any other proposals
by stockholders shall be properly brought before
the meeting only if written notice of any such matter
to be presented by a stockholder at such meeting of
stockholders (the "Stockholder Notice") shall be
delivered to the Secretary of the Corporation at the
principal executive office of the Corporation not
less than 90 nor more than 120 days prior to the
first anniversary date of the Corporation's annual
meeting for the preceding year; provided, however,
if and only if the annual meeting is not scheduled
to be held within a period that commences 30 days
before such anniversary date and ends 30 days after
such anniversary date (an annual meeting date outside
such period being referred to herein as an "Other
Annual Meeting Date"), such Stockholder Notice shall
be given in the manner provided herein by the later
of the close of business on (i) the date 90 days
prior to such Other Annual Meeting Date or (ii) the
10th day following the date such Other Annual Meeting
Date is first publicly announced or disclosed. Any
stockholder desiring to nominate any person or persons
(as the case may be) for election as a director or
directors of the Corporation shall deliver, as part of
such Stockholder Notice: (i) a statement in writing
setting forth (A) the name of the person or persons to
be nominated, (B) the number and class of all shares
of each class of stock of the Corporation owned of
record and beneficially by each such person, as reported
to such stockholder by such nominee(s), (C) the
information regarding each such person required by
paragraph (b) of Item 22 of Rule 14a-101 under
the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), adopted by the Securities
and Exchange Commission (or the corresponding
provisions of any regulation or rule subsequently
adopted by the Securities and Exchange Commission
applicable to the Corporation), (D) whether such
stockholder believes any nominee will be an
"interested person" of the Corporation (as defined
in the Investment Company Act of 1940, as amended)
and, if not an "interested person", information
regarding each nominee that will be sufficient for
the Corporation to make such determination, and (E)
the number and class of all shares of each class of
stock of the Corporation owned of record and beneficially
by such stockholder; (ii) each such person's signed
consent to serve as a director of the Corporation if
elected (iii) such stockholder's name and address;
and, (iv) in the case of a Nominee Holder, evidence
establishing such Nominee Holder's indirect ownership
of, and entitlement to vote, securities at the
meeting of stockholders. Any stockholder who gives
a Stockholder Notice of any matter proposed to be
brought before the meeting (not involving nominees
for director) shall deliver, as part of such Stockholder
Notice, the text of the proposal to be presented;
a brief written statement of the reasons why such
stockholder favors the proposal; such stockholder's
name and address; the number and class of all shares
of each class of stock of the Corporation owned of
record and beneficially by such stockholder; if
applicable, any material interest of such stockholder
in the matter proposed (other than as a stockholder);
and, in the case of a Nominee Holder, evidence establishing
such Nominee Holder's indirect ownership of, and
entitlement to vote, securities at the meeting of
stockholders. As used herein, shares "beneficially owned"
shall mean all shares that such person is deemed to
beneficially own pursuant to Rules 13d-3 and 13d-5
under the Exchange Act.
Notwithstanding anything in this Section 11(b) to
the contrary, in the event that the number of directors
to be elected to the Board of Directors of the Corporation
is increased and either all of the nominees for
director or the size of the increased Board of Directors
are not publicly announced or disclosed by the
Corporation at least 100 days prior to the first
anniversary of the preceding year's annual meeting,
a Stockholder Notice shall also be considered
timely hereunder, but only with respect to nominees
for any new positions created by such increase, if
it shall be delivered to the Secretary of the
Corporation at the principal executive office of
the Corporation not later than the close of business
on the 10th day following the first date all of such
nominees or the size of the increased Board of
Directors shall have been publicly announced or disclosed.
(c) Only such matters shall be properly brought
before a special meeting of stockholders as shall have
been brought before the meeting pursuant to the Corporation's
notice of meeting. In the event the Corporation calls
a special meeting of stockholders for the purpose of
electing one or more directors to the Board of Directors,
any stockholder may nominate a person or persons
(as the case may be), for election to such position(s)
as specified in the Corporation's notice of meeting, if
the Stockholder Notice required by Section 11(b) hereof
shall be delivered to the Secretary of the Corporation
at the principal executive office of the Corporation not
later than the close of business on the 10th day following
the day on which the date of the special meeting and of
the nominees proposed by the Board of Directors to be
elected at such meeting is publicly announced or disclosed.
(d) For purposes of this Section 11, a matter shall be
deemed to have been "publicly announced or disclosed"
if such matter is disclosed in a press release reported
by the Dow Jones News Service, Associated Press or
comparable national news service or in a document
publicly filed by the Corporation with the Securities
and Exchange Commission.
(e) In no event shall the adjournment of an annual
meeting, or any announcement thereof, commence a new
period for the giving of notice as provided in this
Section 11. This Section 11 shall not apply to
stockholder proposals made pursuant to Rule
14a-8 under the Exchange Act.
(f) The person presiding at any meeting of
stockholders, in addition to making any other
determinations that may be appropriate to the
conduct of the meeting, shall have the power and
duty to determine whether notice of nominees and
other matters proposed to be brought before a meeting
has been duly given in the manner provided in this
Section 11 and, if not so given, shall direct and
declare at the meeting that such nominees and other
matters shall not be considered.
NY12527: 75753.1
