# RESTATED ARTICLES OF
INCORPORATION OF GEHL COMPANY, AS AMENDED

Pursuant
to the provisions of Chapter 180 of the Wisconsin Statutes, these Restated Articles of
Incorporation shall supersede and take the place of the corporations heretofore
existing Restated Articles of Incorporation and all amendments thereto:

# ARTICLE I

# NAME

The
name of the corporation is GEHL COMPANY.

# ARTICLE II

# PURPOSE

The purposes
for which the corporation is organized are to engage in any lawful activity within the
purposes for which corporations may be organized under the Wisconsin Business Corporation
Law, Chapter 180, Wisconsin Statutes, including (without by this specification limiting
the generality of the foregoing) the manufacturing, acquiring, holding, pledging,
disposing of and dealing in all kinds of property, whether real, personal or mixed, and
whether tangible or intangible and particularly agricultural machinery and equipment.

# ARTICLE III

# AUTHORIZED SHARES

The
aggregate number of shares which the corporation shall have the authority to issue shall
be twenty-seven million (27,000,000) shares, consisting of: (i) twenty-five million
(25,000,000) shares of a class designated as Common Stock, with a par value of
$.10 per share; and (ii) two million (2,000,000) shares of a class designated as
Preferred Stock, with a par value of $.10 per share. Each issued and
outstanding share of Common Stock, $2.00 par value, shall upon the effective date of these
Restated Articles of Incorporation be reclassified into five (5) shares of Common Stock,
$.10 par value.

The
designation, relative rights, preferences and limitations of the shares of each class and
the authority of the Board of Directors of the corporation to establish and to designate
series of the Preferred Stock and to fix the variations in the relative rights,
preferences and limitations as between such series, shall be as set forth herein.

A.              PREFERRED
STOCK.

(1)              Series
and Variations Between Series. The Board of Directors of the
               corporation is authorized, subject to limitations prescribed by law and
the                provisions of this section A, to provide for the issuance of the
Preferred Stock                in series, to establish or change the number of shares to
be included in each                such series and to fix the designation, relative
rights, preferences and                limitations of the shares of each such series. The
authority of the Board of                Directors of the corporation with respect to
each series shall include, but not                be limited to, determination of the
following:

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| | (i)       
               The number of shares constituting that series and the distinctive designation of
               that series;
| | --------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               The dividend rate or rates on the shares of that series and/or the method of
               determining such rate or rates and the timing of dividend payments on the shares
               of such series;
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iii)       
               Whether and to what extent the shares of that series shall have voting rights in
               addition to the voting rights provided by law, which might include the right to
               elect a specified number of directors in any case or if dividends on such series
               were not paid for a specified period of time;
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iv)       
               Whether the shares of that series shall be convertible into shares of Common
               Stock or shares of any other series of Preferred Stock, and, if so, the terms
               and conditions of such conversion, including the price or prices or the rate or
               rates of conversion and the terms of adjustment thereof;
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (v)       
               Whether or not the shares of that series shall be redeemable, and, if so, the
               terms and conditions of such redemption, including the date or dates upon or
               after which they shall be redeemable and the amount per share payable in case of
               redemption, which amount may vary under different conditions and at different
               redemption dates;
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (vi)       
               The rights of the shares of that series in the event of voluntary or involuntary
               liquidation, dissolution or winding up of the corporation;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (vii)       
               The obligation, if any, of the corporation to retire shares of that series
               pursuant to a sinking fund; and
| | -----------------------------------------------------------------------------------------------------------------------------------------------------

| | (viii)       
               Any other relative rights, preferences and limitations of that series.
| | ---------------------------------------------------------------------------------------------------

Subject
to the designations, relative rights, preferences and limitations provided pursuant to
this section A, each share of Preferred Stock shall be of equal rank with each other share
of Preferred Stock.

(2)       
          Dividends. Before any dividends shall be paid or set apart for payment
          upon shares of Common Stock, the holders of each series of Preferred Stock shall
          be entitled to receive dividends at the rate per annum and at such times as
          specified in the particular series. Dividends on shares of Preferred Stock shall
          be paid out of any funds legally available for the payment of such dividends,
          when and if declared by the Board of Directors. Such dividends shall accumulate
          on each share of Preferred Stock from the date of issuance. All dividends on
          shares of Preferred Stock shall be cumulative so that if the corporation shall
          not pay, on a timely basis, the specified dividend, or any part thereof, on the
          shares of Preferred Stock then issued and outstanding, such deficiency shall
          thereafter be fully paid, but without interest, before any dividend shall be
          paid or set apart for payment on the Common Stock.

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Any
dividend paid upon the Preferred Stock at a time when any accumulated dividends for any
prior period are delinquent shall be expressly declared as a dividend in whole or partial
payment of the accumulated dividend for the earliest dividend period for which dividends
are then delinquent, and shall be so designated to each shareholder to whom payment is
made. All shares of Preferred Stock shall rank equally and shall share ratably, in
proportion to the rate of dividend of the series, in all dividends paid or set aside for
payment for any dividend period or part thereof upon any such shares.

Except
to the limited extent hereinafter provided, so long as any shares of Preferred Stock shall
be outstanding, no dividend, whether in cash, stock or otherwise, shall be paid or
declared nor shall any distribution be made on the Common Stock, nor shall any Common
Stock be purchased, redeemed or otherwise acquired for value by the corporation, nor shall
any moneys be paid to or set aside or made available for a sinking fund for the purchase
or redemption of any Common Stock, unless:

| | (i)       
               All dividends on the Preferred Stock of all series for all past dividend periods
               shall have been paid or shall have been declared and a sum sufficient for the
               payment thereof set apart; and
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| | (ii)       
               The corporation shall have set aside all amounts theretofore required to be set
               aside as and for all sinking fund accounts, if any, for the redemption or
               purchase of all series of Preferred Stock for all past sinking fund payment
               periods or dates.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The foregoing provisions shall not,
however, apply to, or in any way restrict (x) any acquisition of Common Stock in exchange
solely for Common Stock; (y) the acquisition of Common Stock through application of the
proceeds of the sale of Common Stock; or (z) stock dividends or distributions payable only
in shares of stock having rights and preferences subordinate to the Preferred Stock.

(3)       
          Liquidation, Dissolution or Winding Up. In case of voluntary or
          involuntary liquidation, dissolution or winding up of the corporation, the
          holders of shares or each series of Preferred Stock shall be entitled to receive
          out of the assets of the corporation in money or moneys worth the amount
          specified in the particular series for each share at the time outstanding
          together with all accrued but unpaid dividends thereon, before any of such
          assets shall be paid or distributed to holder of Common Stock. In case of the
          voluntary or involuntary liquidation, dissolution or winding up of the
          corporation, if the assets of the corporation shall be insufficient to pay the
          holders of all shares of Preferred Stock then outstanding the entire amounts to
          which they may be entitled, the holders of shares of each outstanding series of
          Preferred Stock shall share ratably in such assets in proportion to the
          respective amounts payable in liquidation.

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(4)       
          Voting Rights. The holders of Preferred Stock shall have only such voting
          rights as are fixed for shares of each series by the Board of Directors pursuant
          to this section A or are provided by law.

(5)       
          Series A Preferred Stock.

| | (i)        Designation
and Amount. There is hereby created a series of Preferred                Stock which
shall be designated as Series A Preferred Stock               (the Series A
Preferred Stock), and the number of shares                constituting such series
shall be Two Hundred Fifty Thousand (250,000). Such                number of shares may
be increased or decreased by resolution of the Board of                Directors;
provided that no decrease shall reduce the number of shares of Series                A
Preferred Stock to a number less than the number of shares then outstanding
               plus the number of shares reserved for issuance upon the exercise of
outstanding                options, rights or warrants or upon the conversion of any
outstanding securities                issued by the corporation into Series A Preferred
Stock.
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| | (ii)        Dividends
and Distributions.
| | ----------------------------------------

| | (a)        The
holders of shares of Series A Preferred Stock, in preference to the
               holders of Common Stock and of any other junior stock, shall be entitled
to                receive, when, as and if declared by the Board of Directors out of
funds legally                available for the purpose, quarterly dividends payable in
cash on the first                business days of January, April, July and October in
each year (each such date                being referred to herein as a Quarterly
Dividend Payment Date),                commencing on the first Quarterly Dividend
Payment Date after the first issuance                of a share or fraction of a share of
Series A Preferred Stock, in an amount                per share (rounded to the
nearest cent) equal to the greater of (i) $1.00 or                (ii) subject to the
provision for adjustment hereinafter set forth, 100 times                the aggregate
per share amount of all cash dividends, and 100 times the                aggregate per
share amount (payable in kind) of all noncash dividends or other
               distributions, other than a dividend payable in shares of Common Stock or
a                subdivision of the outstanding shares of Common Stock (by
reclassification or                otherwise), declared on the Common Stock since the
immediately preceding                Quarterly Dividend Payment Date, or, with respect to
the first Quarterly Payment                Date, since the first issuance of any share or
fraction of a share of                Series A Preferred Stock. In the event the
corporation shall at any time                after May 25, 2007 (the Rights
Declaration Date) (a) declare any                dividend on Common Stock payable
in shares of Common Stock, (b) subdivide the                outstanding Common Stock, or
(c) combine the outstanding Common Stock into a                smaller number of shares,
then in each such case the amount to which holders of                shares of Series A
Preferred Stock were entitled immediately prior to such                event under clause
(ii) of the preceding sentence shall be adjusted by                multiplying such
amount by a fraction the numerator of which is the number of                shares of
Common Stock that are outstanding immediately after such event and the
               denominator of which is the number of shares of Common Stock that were
               outstanding immediately prior to such event.
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| | (b)        The
corporation shall declare a dividend or distribution on the Series A
               Preferred Stock as provided in paragraph (a) above immediately after it
declares                a dividend or distribution on the Common Stock (other than a
dividend payable in                shares of Common Stock); provided that, in the
event no dividend or                distribution shall have been declared on the Common
Stock during the period                between any Quarterly Dividend Payment Date and
the next subsequent Quarterly                Dividend Payment Date, a dividend of $1.00
per share on the Series A                Preferred Stock shall nevertheless be
payable on such subsequent Quarterly                Dividend Payment Date.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)        Dividends
shall begin to accrue and be cumulative on outstanding shares of                Series A
Preferred Stock from the Quarterly Dividend Payment Date next                preceding
the date of issue of such shares of Series A Preferred Stock,                unless
the date of issue of such shares is prior to the record date for the                first
Quarterly Dividend Payment Date, in which case dividends on such shares
               shall begin to accrue from the date of issue of such shares, or unless the
date                of issue is a Quarterly Dividend Payment Date or is a date after the
record date                for the determination of holders of shares of Series A
Preferred Stock                entitled to receive a quarterly dividend and before such
Quarterly Dividend                Payment Date, in either of which events such dividends
shall begin to accrue and                be cumulative from such Quarterly Dividend
Payment Date. Accrued but unpaid                dividends shall not bear interest.
Dividends paid on the shares of Series A                Preferred Stock in an amount
less than the total amount of such dividends at the                time accrued and
payable on such shares shall be allocated pro rata on a                share-by-share
basis among all such shares at the time outstanding. The Board of
               Directors may fix a record date for the determination of holders of shares
of                Series A Preferred Stock entitled to receive payment of a dividend
or                distribution declared thereon, which record date shall be no more than
30 days                prior to the date fixed for the payment thereof.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iii)        Voting
Rights. The holders of shares of Series A Preferred Stock                shall
have the following voting rights:
| | ------------------------------------------------------------------------------------------------------------------------------------

| | (a)        Subject
to the provision for adjustment hereinafter set forth, each share of                Series A
Preferred Stock shall entitle the holder thereof to 100 votes on                all
matters submitted to a vote of the shareholders of the corporation. In the
               event the corporation shall at any time declare or pay any dividend on
Common                Stock payable in shares of Common Stock, or effect a subdivision or
combination                or consolidation of the outstanding shares of Common Stock (by
reclassification                or otherwise than by payment of a dividend in shares of
Common Stock) into a                greater or lesser number of shares of Common Stock,
then in each such case the                number of votes per share to which holders of
shares of Series A Preferred                Stock were entitled immediately prior to
such event shall be adjusted by                multiplying such number by a fraction the
numerator of which is the number of                shares of Common Stock that are
outstanding immediately after such event and the                denominator of which is
the number of shares of Common Stock that were                outstanding immediately
prior to such event.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (b)               Except
as otherwise provided herein, in any other resolution of the Board of
               Directors creating a series of Preferred Stock or any similar stock, or by
law,                the holders of shares of Series A Preferred Stock and the
holders of shares                of Common Stock shall vote together as one class on all
matters submitted to a                vote of shareholders of the corporation.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)               Except
as set forth herein, holders of Series A Preferred Stock shall have
               no special voting rights and their consent shall not be required (except
to the                extent they are entitled to vote with holders of Common Stock as
set forth                herein) for taking any corporate action.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iv)        Certain
Restrictions.
| | ---------------------------------

| | (a)        Whenever
quarterly dividends or other dividends or distributions payable on the
               Series A Preferred Stock as provided in subparagraph (ii) are in
arrears,                thereafter and until all accrued and unpaid dividends and
distributions, whether                or not declared, on shares of Series A
Preferred Stock outstanding shall                have been paid in full, the corporation
shall not:
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (1) | declare
or pay dividends on, make any other distributions on, or redeem or
               purchase or otherwise acquire for consideration any shares of stock
ranking                junior (either as to dividends or upon liquidation, dissolution or
winding up)                to the Series A Preferred Stock;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (2) | declare
or pay dividends on or make any other distributions on any shares of                stock
ranking on a parity (either as to dividends or upon liquidation,
               dissolution or winding up) with the Series A Preferred Stock, except
               dividends paid ratably on the Series A Preferred Stock and all such
parity                stock on which dividends are payable or in arrears in proportion to
the total                amounts to which the holders of all such shares are then
entitled;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (3) | redeem
or purchase or otherwise acquire for consideration shares of any stock
               ranking on a parity (either as to dividends or upon liquidation,
dissolution or                winding up) with the Series A Preferred Stock, provided that
the                corporation may at any time redeem, purchase or otherwise acquire
shares of any                such parity stock in exchange for shares of any stock of the
corporation ranking                junior to or on a parity with (both as to dividends or
upon dissolution,                liquidation or winding up) the Series A Preferred
Stock; or
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (4) | purchase
or otherwise acquire for consideration any shares of Series A
               Preferred Stock, or any shares of stock ranking on a parity with the
               Series A Preferred Stock, except in accordance with a purchase offer
made                in writing or by publication (as determined by the Board of
Directors) to all                holders of such shares upon such terms as the Board of
Directors, after                consideration of the respective annual dividend rates and
other relative rights                and preferences of the respective series and
classes, shall determine in good                faith will result in fair and equitable
treatment among the respective series or                classes.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)        The
corporation shall not permit any corporation of which an amount of voting
               securities sufficient to elect at least a majority of the directors of
such                corporation is beneficially owned, directly or indirectly, by the
corporation or                otherwise controlled by the corporation to purchase or
otherwise acquire for                consideration any shares of stock of the corporation
unless the corporation                could, under paragraph (a) of this subparagraph
(iv), purchase or otherwise                acquire such shares at such time and in such
manner.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (v)        Reacquired
Shares. All shares of Series A Preferred Stock that shall                at any
time have been reacquired by the corporation shall, after such
               reacquisition, have the status of authorized but unissued shares of
Preferred                Stock of the corporation, without designation as to series, and
may be reissued                as part of a new series of Preferred Stock to be created
by resolution or                resolutions of the Board of Directors, subject to the
conditions and                restrictions on issuance set forth herein.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (vi)        Liquidation,
Dissolution or Winding Up. Upon any liquidation, dissolution                or
winding up of the corporation, no distribution shall be made (a) to the
               holders of shares of stock ranking junior (either as to dividends or upon
               liquidation, dissolution or winding up) to the Series A Preferred
Stock                unless, prior thereto, the holders of shares of Series A
Preferred Stock                shall have received $100 per share, plus an amount equal
to accrued and unpaid                dividends and distributions thereon, whether or not
declared, to the date of                such payment, provided that the holders of
shares of Series A                Preferred Stock shall be entitled to receive an
aggregate amount per share,                subject to the provision for adjustment
hereinafter set forth, equal to 100                times the aggregate amount to be
distributed per share to holders of shares of                Common Stock, or (b) to the
holders of shares of stock ranking on a parity                (either as to dividends or
upon liquidation, dissolution or winding up) with the                Series A
Preferred Stock, except distributions made ratably on the                Series A
Preferred Stock and all other such parity stock in proportion to                the total
amounts to which the holders of all such shares are entitled upon such
               liquidation, dissolution or winding up. In the event the corporation shall
at                any time declare or pay any dividend on the Common Stock payable in
shares of                Common Stock, or effect a subdivision or combination or
consolidation of the                outstanding shares of Common Stock (by
reclassification or otherwise than by                payment of a dividend in shares of
Common Stock) into a greater or lesser number                of shares of Common Stock,
then in each such case the aggregate amount to which                holders of shares of
Series A Preferred Stock were entitled immediately                prior to such
event under the proviso in clause (a) of the preceding sentence                shall be
adjusted by multiplying such amount by a fraction the numerator of                which
is the number of shares of Common Stock outstanding immediately after such
               event and the denominator of which is the number of shares of Common Stock
that                were outstanding immediately prior to such event.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (vii)        Consolidation,
Merger, etc. In case the corporation shall enter into any
               consolidation, merger, combination, share exchange or other transaction in
which                the shares of Common Stock are exchanged for or changed into other
stock or                securities, cash and/or any other property, then in any such case
the shares of                Series A Preferred Stock shall at the same time be
similarly exchanged or                changed in an amount per share (subject to the
provision for adjustment                hereinafter set forth) equal to 100 times the
aggregate amount of stock,                securities, cash and/or any other property
(payable in kind), as the case may                be, into which or for which each share
of Common Stock is changed or exchanged.                In the event the corporation
shall at any time after the Rights Declaration Date                (a) declare any
dividend on Common Stock payable in shares of Common Stock, (b)                subdivide
the outstanding Common Stock, or (c) combine the outstanding shares of
               Common Stock into a smaller number of shares, then in each such case the
amount                set forth in the preceding sentence with respect to the exchange or
change of                shares of Series A Preferred Stock shall be adjusted by
multiplying such                amount by a fraction the numerator of which is the number
of shares of Common                Stock that are outstanding immediately after such
event and the denominator of                which is the number of shares of Common Stock
that were outstanding immediately                prior to such event.
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| | (viii)        No
Redemption. The shares of Series A Preferred Stock shall not be
               redeemable.
| | -----------------------------------------------------------------------------------------------------------

| | (ix)        Amendment.
To the fullest extent permitted by applicable law, prior to                such time as
shares of Series A Preferred Stock are issued and outstanding,                the
Board of Directors may modify, amend, alter or revoke any of the number of
               shares of Series A Preferred Stock, the powers, preferences or
special                rights of the Series A Preferred Stock or the other terms of
the                Series A Preferred Stock. From and after such time as shares of
               Series A Preferred Stock are issued and outstanding, the Restated
Articles                of Incorporation of the corporation shall not be amended in any
manner that                would materially alter or change the powers, preferences or
special rights of                the Series A Preferred Stock so as to affect them
adversely without the                affirmative vote of the holders of at least
two-thirds of the outstanding shares                of Series A Preferred Stock,
voting together as a single class.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (x)               Fractional
Shares. Series A Preferred Stock may be issued in                fractions of a
share which shall entitle the holder, in proportion to such                holders
fractional shares, to exercise voting rights, receive dividends,
               participate in distributions and to have the benefit of all other rights
of                holders of Series A Preferred Stock.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

B.        COMMON
STOCK.

(1)       
          Dividends. Subject to the provisions of this Article III, the Board of
          Directors may, in its discretion, out of funds legally available for the payment
          of dividends and at such times and in such manner as determined by the Board of
          Directors, declare and pay dividends on the Common Stock.

(2)       
          Liquidation Rights. In the event of any voluntary or involuntary
          liquidation, dissolution or winding up of the corporation, after there shall
          have been paid to or set aside for the holders of shares of Preferred Stock the
          full preferential amounts to which they are entitled, the holders of outstanding
          shares of Common Stock shall be entitled to receive pro rata, according to the
          number of shares held by each, the remaining assets of the corporation available
          for distribution.

(3)       
          Voting Rights. Except as otherwise provided by law and except as may be
          determined by the Board of Directors with respect to the Preferred Stock
          pursuant to section A of this Article III, only the holders of Common Stock
          shall be entitled to vote for the election of directors of the corporation and
          for all other corporate purposes. Upon any such vote the holders of Common Stock
          shall, except as otherwise provided by law, be entitled to one vote for each
          share of Common Stock held by them respectively.

C.
       PREEMPTIVE
RIGHTS.

Except
as the Board of Directors of the corporation may otherwise determine from time to time, no
shareholder of the corporation shall have any preferential or preemptive right to
subscribe for or purchase from the corporation any new or additional shares of capital
stock of the corporation or securities convertible into shares of capital stock, whether
now or hereafter authorized.

D.        REPURCHASE
OF SHARES.

The
corporation, subject to the conditions provided for herein, shall have the express right
to acquire and dispose of its own shares on such terms and conditions as the Board of
Directors may from time to time determine and agree.

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# ARTICLE IV

# BOARD OF DIRECTORS

A.       
          POWERS, NUMBER, CLASSIFICATION AND NOMINATION.

The
general powers, number, classification, and requirements for nomination of directors shall
be as set forth in sections 3.01, 3.02 and 3.03 of Article III of the By-Laws of the
corporation (and as such sections shall exist from time to time). Notwithstanding any
other provisions of these Restated Articles of Incorporation or the By-Laws of the
corporation (and notwithstanding the fact that a lesser affirmative vote may be specified
by law), the affirmative vote of shareholders possessing at least seventy-five percent of
the voting power of the then outstanding shares of all classes of stock of the corporation
generally possessing voting rights in elections of directors, considered for this purpose
as one class, shall be required to amend, alter, change or repeal, or to adopt any
provision inconsistent with, such sections 3.01, 3.02 and 3.03 of Article III of the
By-Laws, or any provision thereof; provided, however, that the Board of Directors, by a
resolution adopted by the Requisite Vote (as defined herein), may amend, alter, change or
repeal, or adopt any provision inconsistent with, sections 3.01, 3.02 and 3.03 of Article
III of the By-Laws, or any provision thereof, without the vote of the shareholders. As
used herein, the term Requisite Vote shall mean the affirmative vote of at
least two-thirds of the directors then in office plus one director.

B.        REMOVAL
OF DIRECTORS.

Any
director may be removed from office, but only for cause (as defined herein) by
the affirmative vote of shareholders possessing at least a majority of the voting power of
the then outstanding shares of all classes of stock of the corporation generally
possessing voting rights in elections of directors, considered for this purpose as one
class; provided, however, that if the Board of Directors by a resolution adopted by the
Requisite Vote shall have recommended removal of a director, then the shareholders may
remove such director from office by the foregoing vote without cause. As used herein,
cause shall be deemed to exist only if the director whose removal is proposed
has committed acts of fraud constituting a felony and resulting in personal enrichment for
the director at the corporations expense for which the director was duly and
properly indicated and such indictment is not dismissed within ninety (90) days of
issuance.

C.
       VACANCIES.

Any
vacancy occurring in the Board of Directors, including a vacancy created by an increase in
the number of directors, shall be filled by the affirmative vote of a majority of the
directors then in office, though less than a quorum of the Board of Directors, or by a
sole remaining director. Any director so elected shall serve until the next election of
the class for which such director shall have been chosen and until his successor shall be
duly elected and qualified.

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D.       
          AMENDMENTS.

(1)       
          Notwithstanding any other provision of these Restated Articles of Incorporation
          (and notwithstanding the fact that a lesser affirmative vote may be specified by
          law), the affirmative vote of shareholders possessing at least seventy-five
          percent of the voting power of the then outstanding shares of all classes of
          stock of the corporation generally possessing voting rights in elections of
          directors, considered for this purpose as one class, shall be required to amend,
          alter, change or repeal, or adopt any provision inconsistent with, the
          provisions of this Article IV.

(2)       
          Notwithstanding the foregoing and any provisions in the By-Laws of the
          corporation, whenever the holders of any one or more series of Preferred Stock
          issued by the corporation pursuant to Article III hereof shall have the right,
          voting separately as a class or by series, to elect directors at an annual or
          special meeting of shareholders, the election, term of office, filling of
          vacancies and other features of such directorships shall be governed by the
          terms of the series of Preferred Stock applicable thereto, and such directors so
          elected shall not be divided into classes unless expressly provided by the terms
          of the applicable series.

# ARTICLE V

# BUSINESS COMBINATIONS

A.       
          BUSINESS COMBINATIONS WITHIN THREE YEARS OF THE STOCK ACQUISITION DATE.

In
addition to any affirmative vote otherwise required by law, the By-Laws of the corporation
or these Restated Articles of Incorporation, and except as otherwise expressly provided in
section C of this Article V, the corporation may not engage in a Business Combination (as
herein-after defined) with an Interested Shareholder (as hereinafter defined) for three
(3) years after the Interested Shareholders Stock Acquisition Date (as hereinafter
defined) unless the Board of Directors of the corporation has approved by resolution,
before the Interested Shareholders Stock Acquisition Date, that Business Combination
or the purchase of Stock (as hereinafter defined) made by the Interested Shareholder on
that Stock Acquisition Date.

B.       
          BUSINESS COMBINATIONS MORE THAN THREE YEARS AFTER THE STOCK ACQUISITION
          DATE.

Except
as otherwise expressly provided in section C of this Article V, at any time after the
three-year period described in section A above the corporation may engage in a Business
Combination with an Interested Shareholder but only if, in addition to any affirmative
vote otherwise required by law, the By-Laws of the corporation or these Restated Articles
of Incorporation, any of the following conditions is satisfied:

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(1)                             The
Board of Directors of the corporation has approved, before the Interested
               Shareholders Stock Acquisition Date, the purchase of Stock made by
the                Interested Shareholder on that Stock Acquisition Date.

(2)                             The
Business Combination is approved by the affirmative vote of the holders of a
               majority of the Voting Stock (as hereinafter defined) not beneficially
owned by                the Interested Shareholder at a meeting called for that purpose.

(3)                             The
Business Combination meets all of the following conditions:

| | (i)       
               Holders of all outstanding shares of Stock of the corporation not beneficially
               owned by the Interested Shareholder are each entitled to receive per share an
               aggregate amount of cash and the market value, as of the Consummation Date (as
               hereinafter defined), of noncash consideration at least equal to the higher of
               the following:
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)       
               The highest of: the market value per share on the Announcement Date (as
               hereinafter defined) with respect to the Business Combination, the market value
               per share on the Interested Shareholders Stock Acquisition Date, the
               highest price per share paid by the Interested Shareholder, including brokerage
               commissions, transfer taxes and soliciting dealers fees, for shares of the
               same class or series within the three (3) years immediately before the including
               the Announcement Date of the Business Combination or the highest price per share
               paid by the Interested Shareholder, including brokerage commissions, transfer
               taxes and soliciting dealers fees, for shares of the same class or series
               within the three (3) years immediately before and including the Interested
               Shareholders Stock Acquisition Date; plus, in each case, interest
               compounded annually from the earliest date on which that highest per share
               acquisition price was paid or the per share market value was determined, through
               the Consummation Date, at the rate for one-year U.S. Treasury obligations from
               time to time in effect; less the aggregate amount of any cash and the market
               value, as of the dividend payment date, of any noncash dividends paid per share
               since that date, up to the amount of that interest.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)       
               The highest preferential amount per share, if any, to which the holders of
               shares of that class or series of Stock are entitled upon the voluntary or
               involuntary liquidation of the corporation, plus the aggregate amount of
               dividends declared or due which those holders are entitled to before payment of
               dividends on another class or series of Stock, unless the aggregate amount of
               those dividends is included in the preferential amount.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (ii)                             The
form of consideration to be received by holders of each particular class or
               series of outstanding Stock in the Business Combination is in cash or, if
the                Interested Shareholder holds previously acquired shares of that class
or series,                the same form as the Interested Shareholder previously used to
acquire the                largest number of shares of that class or series.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

C.
       EXCLUDED TRANSACTIONS.

The
provisions of sections A and B of this Article V shall not apply to any of the following:

(1)                             A
Business Combination with an Interested Shareholder who was an Interested
               Shareholder immediately before September 30, 1989, unless subsequently the
               Interested Shareholder increased its beneficial ownership of the voting
power of                the outstanding Voting Stock of the corporation to a proportion
in excess of the                proportion of voting power that the Interested
Shareholder beneficially owned                immediately before September 30, 1989,
excluding an increase approved by                resolution of the Board of Directors of
the corporation before the increase                occurred.

(2)                             A
Business Combination of the corporation with an Interested Shareholder which
               became an Interested Shareholder inadvertently, if the Interested
Shareholder                satisfies both of the following:

| | (i)       
               As soon as practicable divests itself of a sufficient amount of the Voting Stock
               of the corporation so that the Interested Shareholder is no longer the
               beneficial owner of at least 10% of the voting power of the outstanding Voting
               Stock of the corporation, or a Subsidiary of the corporation (as hereinafter
               defined).
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               Would not at any time within the three (3) years before the Announcement Date
               with respect to the Business Combination in question have been an Interested
               Shareholder except for the inadvertent acquisition.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(3)                             A
Business Combination of the corporation with an Interested Shareholder which
               was an Interested Shareholder immediately before September 30, 1989, and
               inadvertently increased its beneficial ownership of the voting power of
the                outstanding Voting Stock of the corporation to a proportion in excess
of the                proportion of voting power that the Interested Shareholder
beneficially owned                immediately before September 30, 1989, if the
Interested Shareholder divests                itself of a sufficient amount of Voting
Stock so that the Interested Shareholder                is no longer the beneficial owner
of a proportion of the voting power in excess                of the proportion of voting
power that the Interested Shareholder held                immediately before September
30, 1989.

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D.        
DEFINITIONS.

For
purposes of this Article V:

(1)                             Affiliate shall
mean a person that directly, or indirectly through                one or more
intermediaries, controls, is controlled by or is under common                control with
a specified person.

(2)                             Announcement
Date shall mean the date of the first public                announcement of a
final, definitive proposal for a Business Combination.

(3)                             Associate of
a person shall mean any of the following:

| | (i)       
               A corporation or organization of which the person is an officer, director or
               partner or is the beneficial owner of at least 10% of any class of Voting Stock.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               A trust or other estate in which the person has a substantial beneficial
               interest or as to which the person serves as trustee or in a similar fiduciary
               capacity.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iii)       
               A relative or spouse of the person, or a relative of the spouse, who has the
               same principal residence as the person.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

(4)                             A
person shall be deemed to be the beneficial owner of any Stock:

| | (i)       which
such person or any of such persons Affiliates or Associates
               beneficially owns, directly or indirectly;
| | --------------------------------------------------------------------------------------------------------------------------------------

| | (ii)
       which
such person or any of such persons Affiliates or Associates has (a)
               the right to acquire (whether such right is exercisable immediately or
only                after the passage of time) pursuant to any agreement, arrangement or
               understanding (other than customary agreements with and between
underwriters and                selling group members with respect to a bona fide public
offering of                securities), or upon the exercise of conversion rights,
exchange rights, rights                (other than rights issued by the corporation
pursuant to a shareholder rights                plan), warrants or options, or otherwise;
provided, however, that                a person shall not be deemed the
beneficial owner of securities tendered                pursuant to a tender or exchange
offer made by or on behalf of such person or                any of such persons
Affiliates or Associates until such tendered                securities are accepted for
purchase or exchange; or (b) the right to vote                pursuant to any agreement,
arrangement or understanding; provided, however, that a person shall not be
deemed the beneficial owner of any                security if the agreement, arrangement
or understanding to vote such security                arises solely from a revocable
proxy or consent given to such person in response                to a public proxy or
consent solicitation; or
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (iii)
       which
are beneficially owned, directly or indirectly, by any other person with
               which such person or any of such persons Affiliates or Associates
has any                agreement, arrangement or understanding (other than customary
agreements with                and between underwriters and selling group members with
respect to a bona fide                public offering of securities) for the purpose of
acquiring, holding, voting                (except to the extent contemplated by the
proviso to section D(4)(ii)(b) of this                Article V) or disposing of any
securities of the corporation.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(5)                             Business
Combination means any of the following:

| | (i)       
               A merger or consolidation of the corporation or any Subsidiary of the
               corporation with any of the following:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)
        An
Interested Shareholder.
| | --------------------------------------

| | (b)
        A
corporation, whether or not it is an Interested Shareholder, which is, or
               after a merger or consolidation would be, an Affiliate or Associate of an
               Interested Shareholder.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               A sale, lease, exchange, mortgage, pledge, transfer or other disposition, in one
               transaction or a series of transactions, to or with an Interested Shareholder or
               an Affiliate or Associate of an Interested Shareholder of assets of the
               corporation or a subsidiary of the corporation if those assets meet any of the
               following conditions:
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)       
               Have an aggregate market value equal to a least 5% of the aggregate market value
               of all the assets, determined on a consolidated basis, of the corporation.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)       
               Have an aggregate market value equal to at least 5% of the aggregate market
               value of all the outstanding Stock of the corporation.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)       
               Represent at least 10% of the earning power or income, determined on a
               consolidated basis, of the corporation.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iii)       
               The issuance or transfer by the corporation or a Subsidiary of the corporation,
               in one transaction or a series of transactions, of any Stock of the corporation
               or a Subsidiary of the corporation is all of the following conditions are
               satisfied:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)       
               The stock has an aggregate market value equal to at least 5% of the aggregate
               market value of all of the outstanding Stock of the corporation.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | (b)       
               The Stock is issued or transferred to an Interested Shareholder or an Affiliate
               or Associate of an Interested Shareholder, except for Stock of the corporation
               or such Subsidiary issued or transferred pursuant to the exercise of warrants,
               rights or options to purchase such Stock offered, or a dividend paid, or
               distribution made, proportionately to all holders of Stock of the corporation.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (iv)       
               The adoption of a plan or proposal for the liquidation or dissolution of the
               corporation which is proposed by, on behalf of, or pursuant to a written or
               unwritten agreement, arrangement or understanding with, an Interested
               Shareholder or an Affiliate or Associate of an Interested Shareholder.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (v)       
               Any of the following, if the direct or indirect effect is to increase the
               proportionate share of the outstanding Stock of a class or series of securities
               convertible into Voting Stock of the corporation or a Subsidiary of the
               corporation beneficially owned by the Interested Shareholder of an Affiliate or
               Associate of the Interested Shareholder, unless the increase is the result of
               immaterial changes due to fractional share adjustment:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)       
               A reclassification of securities, including, without limitation, a stock split,
               stock dividend or other distribution of Stock in respect of Stock, or reverse
               stock split.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)       
               A recapitalization of the corporation.
| | ----------------------------------------------------------------

| | (c)       
               A merger or consolidation of the corporation with a Subsidiary of the
               corporation.
| | ---------------------------------------------------------------------------------------------------------------------------

| | (d)       
               Any other transaction, whether or not with, into or involving the Interested
               Shareholder, which is proposed by, on behalf of, or pursuant to a written or
               unwritten agreement, arrangement or understanding with, the Interested
               Shareholder or an Affiliate or Associate of the Interested Shareholder.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (vi)       
               Receipt by an Interested Shareholder or an Affiliate or Associate of an
               Interested Shareholder of the direct or indirect benefit of a loan, advance,
               guarantee, pledge or other financial assistance or a tax credit or other tax
               advantage provided by or through the corporation or any Subsidiary of the
               corporation, unless the Interested Shareholder receives the benefit
               proportionately as a holder of Stock of the corporation.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(6)                             Consummation
Date means the date of consummation of a Business                Combination.

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(7)                             Control,
controlled by or under common control                with means
the possession, directly or indirectly of the power to direct                or cause the
direction of the management and policies of a person, whether                through the
ownership of Voting Stock, except as provided in the next sentence,                by
contract, or otherwise. Control of a corporation is not
               established for purposes of this Article V if a person, in good faith and
not                for the purpose of circumventing this Article V, holds voting power as
an agent,                bank, broker, nominee, custodian or trustee for one or more
beneficial owners                who do not individually or as a group have control of
the corporation. For                purposes of this Article V, a persons
beneficial ownership of at least 10%                of the voting power of a corporations
outstanding Voting Stock creates a                presumption that the person has control
of the corporation.

| | (8)       
               (i) Interested Shareholder, with respect to the corporation, means a
               person other than the corporation or a Subsidiary of the corporation that meets
               any of the following conditions:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (a)       
               Is the beneficial owner of at least 10% of the voting power of the outstanding
               Voting Stock of the corporation.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)       
               Is an Affiliate or Associate of the corporation and at any time within three (3)
               years immediately before the date in question was the beneficial owner of at
               least 10% of the voting power of the then outstanding Voting Stock of the
               corporation.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               For the purpose of determining whether a person is an Interested Shareholder,
               the number of shares of Voting Stock of the corporation considered outstanding
               includes shares beneficially owned by the person but does not include any other
               unissued shares of Voting Stock of the corporation which may be issuable
               pursuant to an agreement, arrangement or understanding, or upon exercise of
               conversion rights, warrants or options, or otherwise.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(9)                             Stock means
any of the following:

| | (i)       
               Shares, stock or similarly security, certificate of interest, participation in a
               profit sharing agreement, voting trust certificate, or certificate of deposit
               for any of the items described herein.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)       
               Security which is convertible, with or without consideration, into stock, or any
               warrant, call or other option or privilege of buying stock, or any other
               security carrying a right to acquire, subscribe to or purchase stock.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(10)                             Stock
Acquisition Date, with respect to any person, means the date                that
that person first becomes an Interested Shareholder of the corporation.

(11)                             Subsidiary
of the corporation shall mean any other corporation of                which Voting
Stock having a majority of the votes entitled to be cast is owned,
               directly or indirectly, by the corporation.

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(12)                             Voting
Stock means capital stock of a corporation entitled to vote
               generally in the election of directors.

E.              DETERMINATION
OF MARKET VALUE.

For
purposes of this Article V, the market value of Stock or other property other than cash or
Stock is determined as follows:

(1)       
          In the case of Stock generally, by:

| | (i)                             The
highest closing sale price during the thirty (30) days immediately before
               the date in question of a share of that class or series of Stock on the
               composite tape for stocks listed on the New York Stock Exchange, or, if
that                class or series of Stock is not quoted on the composite tape or if
that class or                series of Stock is not listed on the New York Stock
Exchange, on the principal                U.S. securities exchange registered under the
Securities Exchange Act of 1934,                as amended, on which that class or series
of Stock is listed.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (ii)                             If
that class or series of Stock is not listed on an exchange described above,
               the highest closing bid quotation for a share of that class or series of
Stock                during the thirty (30) days immediately before the date in question
on the                National Association of Securities Dealers Automated Quotation
System, or any                similar system then in use.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

(2)       
          In the case of property other than cash or Stock (except for Stock not traded as
          provided above), the fair market value of the property or Stock on the date in
          question as determined in good faith by the Board of Directors of the
          corporation.

F.        
FIDUCIARY OBLIGATIONS.

Nothing
contained in this Article V shall be construed to relieve any Interested Shareholder from
any fiduciary obligation imposed by law.

G.        AMENDMENT.

Notwithstanding
any other provisions of these Restated Articles of Incorporation (and notwithstanding that
a lesser affirmative vote may be specified by law), the affirmative vote of shareholders
possessing at least seventy-five percent of the voting power of the then outstanding
Voting Shares, considered for this purpose as one class, shall be required to amend,
alter, change, repeal, or adopt any provision inconsistent with this Article V.

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# ARTICLE VI

# REGISTERED OFFICE AND
AGENT

At
the time of adoption of these Restated Articles of Incorporation the address of the
registered office of the corporation is 143 Water Street, West Bend, Wisconsin 53095, in
Washington County. The name of the registered agent at such address is Michael J. Mulcahy.

# ARTICLE VII

# AMENDMENTS

Except
as otherwise provided herein, these Restated Articles may be amended at any regular or
special meeting of the shareholders of the corporation by the affirmative vote of
shareholders possessing at least two-thirds (2/3) of the voting power of all then
outstanding shares entitled to vote thereon.

-19-