# EDGAR Filing Document

**Accession Number:** 0000846475
**File Stem:** 0001104659-26-035274
**Filing Date:** 2026-3
**Character Count:** 101797
**Document Hash:** 489ff1d807a44c10ecfc5f13709a3a37
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-035274.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0001104659-26-035274

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260326

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Termination of a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZYNEX INC
- **CENTRAL INDEX KEY:** 0000846475
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 870403828
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38804
- **FILM NUMBER:** 26799166

**BUSINESS ADDRESS:**
- **STREET 1:** 9655 MAROON CIRCLE
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** (800)-495-6670

**MAIL ADDRESS:**
- **STREET 1:** 9655 MAROON CIRCLE
- **CITY:** ENGLEWOOD
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZYNEX MEDICAL HOLDINGS INC
- **DATE OF NAME CHANGE:** 20050812

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZYNEX MEDICAL HOLDINGS   INC
- **DATE OF NAME CHANGE:** 20040120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FOX RIVER HOLDINGS  INC
- **DATE OF NAME CHANGE:** 20031126

?xml version='1.0' encoding='ASCII'? ZYNEX, INC._March 26, 2026

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of report (Date of earliest event reported): March 26, 2026**

**ZYNEX, INC.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Nevada** | &nbsp;&nbsp;**001-38804** | &nbsp;&nbsp;**90-0275169** |
| &nbsp;&nbsp;**(State or other jurisdiction of incorporation)** | &nbsp;&nbsp;**(Commission File Number)** | &nbsp;&nbsp;**(IRS EmployerIdentification No.)** |
| &nbsp;&nbsp;**9655 Maroon Circle, Englewood, CO(Address of principal executive offices)** | &nbsp;&nbsp;**9655 Maroon Circle, Englewood, CO(Address of principal executive offices)** | &nbsp;&nbsp;**80112(Zip Code)** |

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**Registrant's telephone number, including area code: (800) 495-6670**

**Not Applicable**

**(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchangeon which registered** |
| Common Stock, $0.001 par value per share | (1) | (1) |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) On December 17, 2025, Zynex, Inc. (the "Company") received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that Nasdaq had determined to delist the Company's common stock as a result of the Company and certain of its subsidiaries commencing voluntary cases under chapter 11 of title 11 of the United States Code on December 15, 2025. On December 24, 2025, the Company's common stock was suspended from trading on Nasdaq and began trading on the Pink Limited Market, operated by OTC Markets Group, under the symbol " ZYXIQ ." On January 23, 2026, Nasdaq filed a Form 25 with the U.S. Securities and Exchange Commission (the "SEC"), which became effective 10 calendar days after such filing on February 2, 2026. The deregistration of the Company's common stock under Section 12(b) of the Securities Exchange Act of 1934, as amended, will be effective 90 days, or such shorter period as the SEC may determine, after the filing of the Form 25.

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**Introductory Note**

As previously reported, on December 15, 2025 (the "Petition Date"), Zynex, Inc. (the "Company") and certain of its subsidiaries (collectively, the "Company Subsidiary Parties" and together with the Company, the "Company Parties") filed voluntary petitions (the "Chapter 11 Cases") under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of Texas (the "Court").

Subsequently, the Company Parties filed with the Court a Third Amended Combined Disclosure Statement and Joint Plan of Reorganization of Zynex, Inc. and its Affiliated Debtors Pursuant to Chapter 11 of the Bankruptcy Code on February 7, 2026 (as amended, supplemented, or otherwise modified from time to time (including through plan supplements), the "Plan", or the "Disclosure Statement", as applicable). As previously reported, on March 19, 2026, the Court entered an order (the "Confirmation Order") confirming the Plan and approving the Disclosure Statement. The Chapter 11 Cases are being administered under the caption *In re Zynex, Inc., et al*., Case No. 25-90810. For additional information about the Chapter 11 Cases and copies of motions and proposed orders filed with the Court and other documents related to the court-supervised process, please visit https://dm.epiq11.com/Zynex.

On March 26, 2026 (the "Effective Date"), after satisfaction or waiver of the conditions precedent to the effectiveness of the Plan, the Company Parties effected the transactions contemplated by the Plan and emerged from chapter 11 protection. A copy of the Confirmation Order and the Third Amended Combined Disclosure Statement and Joint Plan of Reorganization of Zynex, Inc. and its Affiliated Debtors, as confirmed by the Court, are attached hereto as Exhibits 2.1 and 2.2, respectively, and incorporated herein by reference. Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Plan.

**Item 1.01** **Entry into a Material Definitive Agreement.**

***Exit Credit Agreement***

On the Effective Date and in connection with the Plan, the Company, as borrower, the guarantors, the lender party thereto and Wilmington Savings Fund Society, FSB ("WSFS"), as administrative agent and collateral agent, entered into a term loan credit agreement (the "Exit Credit Agreement"). The Exit Credit Agreement provides for $10.0 million in aggregate principal amount of senior secured term loans maturing on April 20, 2034 (the "New Term Loan Facility"). On the earlier of the maturity date and the date upon which all payments under the Zynex Non-Prosecution Agreement dated as of February 17, 2026 among the Company and United States Attorney's Office for the District of Rhode Island, are made, all obligations under the New Term Loan Facility will be automatically converted into common stock of the Company at the then applicable conversion rate based on fair market value of the common stock of the Company at that time.

All obligations under the Exit Credit Agreement are guaranteed by, subject to certain exceptions, each of the Company's current and future subsidiaries. All obligations under the Exit Credit Agreement, and the guarantees of those obligations, are or will be secured by substantially all of the assets of the Company and each guarantor (subject to certain exceptions).

The New Term Loan Facility will require the Company to prepay outstanding term loans, subject to certain exceptions, with 100% of the proceeds of any debt incurrence that does not otherwise constitute permitted indebtedness under the Exit Credit Agreement and upon a change of control.

Borrowings under the New Term Loan Facility will bear interest, paid in kind, at a rate per annum equal to the applicable federal rate.

The Exit Credit Agreement contains other customary terms, including (1) representations, warranties and affirmative covenants, (2) negative covenants, including limitations on indebtedness, liens, mergers, acquisitions, asset sales, investments, distributions, prepayments of subordinated debt, amendments of material agreements governing subordinated indebtedness, changes to lines of business and transactions with affiliates, in each case subject to baskets, thresholds and other exceptions, and (3) customary events of default.

**Item 1.02.** **Termination of a Material Definitive Agreement.**

***DIP Credit Facility***

On December 17, 2025, the Company entered into a delayed draw senior secured debtor-in-possession term loan in an aggregate principal amount of $22.3 million (the "DIP Facility") on the terms and conditions set forth in the DIP Facility credit agreement (the "DIP Credit Agreement") between the Company Parties, the lenders party thereto and Wilmington Savings Fund Society, FSB, as administrative agent and collateral agent. The material terms of the DIP Credit Agreement were previously described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on December 18, 2025 and are incorporated by reference herein. On the Effective Date, pursuant to the Plan, all outstanding obligations under the DIP Facility and the DIP Credit Agreement were discharged and the liens and mortgages related thereto were released.

***Convertible Senior Notes***

On May 9, 2023, the Company issued $60.0 million in aggregate principal amount of its 5.00% Convertible Senior Notes due 2026 (the "Notes"). The Notes were issued pursuant to an indenture, dated as of May 9, 2023 (the "Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee. The material terms of the Notes and the Indenture were previously described in the Company's Current Report on Form 8-K filed with the SEC on May 9, 2023 and are incorporated by reference herein. On the Effective Date, pursuant to the Plan, all outstanding obligations under the Notes and the Indenture were discharged.

***Cancellation of Certain Existing Security Interests***

In accordance with the Plan, on the Effective Date, all outstanding equity interests in the Company, including all outstanding shares of the Company's common stock and all shares of the Company's common stock issuable under equity awards granted under any of the Company's incentive plans, were canceled, released, and extinguished and are of no further force and effect without any need for a holder of such common stock to take further action with respect thereto.

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| | |
|:---|:---|
| **Item 2.03.** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

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The information set forth in Item 1.01 of this Current Report on Form 8-K relating to the Exit Credit Agreement is incorporated herein by reference.

**Item 3.02.** **Unregistered Sales of Equity Securities.**

On the Effective Date, in connection with the Company's emergence from the Chapter 11 Cases and in accordance with the terms of the Plan, the Company issued an aggregate of 1,000 shares of common stock, $0.001 par value per share (the "New Common Stock") to Altivera Medical Holdings LLC, the Plan Sponsor under the Plan (the "Plan Sponsor").

The issuance of the shares of New Common Stock to the Plan Sponsor was in reliance upon the exemptions from registration under the Securities Act of 1933, as amended (the "Securities Act"), including pursuant to Section 1145 of the Bankruptcy Code to the fullest extent applicable.

**Item 3.03.** **Material Modification to Rights of Security Holders.**

The information set forth in the Introductory Note and Items 1.01, 1.02 (under the subheading "Cancellation of Certain Existing Security Interests"), 3.02 and 5.03 of this Current Report on Form 8-K is incorporated herein by reference.

**Item 5.01.** **Changes in Control of Registrant.**

On the Effective Date, all previously issued and outstanding equity interests in the Company were cancelled and extinguished. Pursuant to the Plan, the Plan Sponsor received 100% of the shares of the Common Stock.

The information set forth in Item 3.02 of this Current Report on Form 8-K is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.02.** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

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In connection with the Company's emergence from the Chapter 11 Cases and effective as of the Effective Date, Steven Dyson, Jacob Mercer, Keith Fischer and David Ashley Lee were appointed as the directors of the Plan Sponsor, the sole shareholder of the reorganized Company. Effective as of the Effective Date, the directors of the Company were removed from their positions as directors and Vikram Bajaj and John Bibb were appointed as directors of the Company. Pursuant to the Plan, the officers of the Company remain as officers of the Company in the same capacities as prior to the Effective Date. Director and officer compensation will be determined by the applicable governing bodies.

**Item 5.03.** **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year**

Pursuant to the Plan, the Company amended and restated its articles of incorporation (the "Articles") and bylaws (the "Bylaws"), each of which became effective on the Effective Date and forms of which were disclosed in the plan supplement filed with the Bankruptcy Court. The principal changes to the Articles and the Bylaws are described below.

***Articles***

The Articles authorizes the Company to issue up to 1,000,000 shares of Common Stock, with a par value of $0.001 per share. The Articles do not authorize the issuance of any other class of capital stock.

***Bylaws***

The Bylaws provide that for a special meeting of the shareholders to be called at any time by the Board of Directors, the President or the holders of a majority of the outstanding shares of capital stock of the Company entitled to vote at such meeting. The Bylaws establish that each outstanding share of stock is entitled to one vote on each matter submitted to a vote and a majority vote shall constitute the act of the stockholders, except, in each case as may otherwise be provided in the Bylaws or the Articles. The Bylaws also provide for action by written consent of the stockholders.

The Bylaws removed the nominations and proposals by stockholders provisions and provided that special meetings of the Board of Directors may be called by the Chief Executive Officer or President with one day written notice. The Bylaws also provide for the election of a chairman to preside over meetings as well as for the resignation at any time by a director upon notice to the Board of Directors, its chair or to the Secretary of the Company. The Bylaws also provide that all transfers will be reflected on the books of the Company.

The foregoing summaries of the principal changes to each of the Articles and Bylaws do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Articles and the Bylaws, which are attached hereto as Exhibits 3.1 and 3.2, respectively, and incorporated herein by reference. In addition, marked copies of the Articles and Bylaws showing all changes from the respective prior versions are attached hereto as Exhibits 3.3 and 3.4, respectively.

**Forward-Looking Statements**

This Current Report on Form 8-K includes "forward-looking statements," within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, including, in particular, any statements about our plans, strategies, objectives, initiatives, roadmap and prospects. We generally use the words "may," "will," "could," "expect," "anticipate," "believe," "estimate," "plan," "intend," "aim" and similar expressions in this Current Report on Form 8-K to identify forward-looking statements. We have based these forward-looking statements on our current views with respect to future events and financial performance. Actual results could differ materially from those projected in the forward-looking statements. These forward-looking statements, include, but are not limited to, statements related to the restructuring transactions described above, including the Company's ability to realize the intended benefits of the restructuring transactions contemplated by the Plan. These forward-looking statements are subject to risks, uncertainties and assumptions, including, among other things, the risks and uncertainties in Part II, Item 1A. "Risk Factors" and in

Part I, Item 1A. "Risk Factors" in our 2024 Form 10-K/A filed with the Securities and Exchange Commission (the "SEC") on July 24, 2025, Part II, Item 1A. "Risk Factors" of the Company's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025 filed with the SEC on July 31, 2025, Part II, Item 1A. "Risk Factors" of the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the SEC on November 17, 2025, and our other filings with the SEC. When considering these forward-looking statements, you should keep in mind the documents incorporated by reference. New risks and uncertainties arise from time to time, and we cannot predict those events or how they may affect us. We assume no obligation to update any forward-looking statements after the date of this report as a result of new information, future events or developments, except as required by applicable laws and regulations.

You should not put undue reliance on any forward-looking statements. You should understand that many important factors, including those identified herein, could cause our results to differ materially from those expressed or suggested in any forward-looking statement. Except as required by law, we do not undertake any obligation to update or revise these forward-looking statements to reflect new information or events or circumstances that occur after the date of the filing of this Current Report on Form 8-K or to reflect the occurrence of unanticipated events or otherwise.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |

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(d) Exhibits:

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 2.1 | [Confirmation Order, dated March 19, 2026 (incorporated by reference to Exhibit 2.1 of the Company's Current Report on Form 8-K, filed on March 20, 2026).](https://www.sec.gov/Archives/edgar/data/846475/000110465926032723/zyxi-20260319xex2d1.htm) |
| 2.2 | [Third Amended Combined Disclosure Statement and Joint Plan of Reorganization of Zynex, Inc. and its Affiliated Debtors, dated February 7, 2026 (incorporated by reference to Exhibit 2.2 of the Company's Current Report on Form 8-K, filed on March 20, 2026).](https://www.sec.gov/Archives/edgar/data/846475/000110465926032723/zyxi-20260319xex2d2.htm) |
| 3.1 | [Second Amended and Restated Articles of Incorporation of Zynex, Inc.](zyxi-20260326xex3d1.htm) |
| 3.2 | [Second Amended and Restated Bylaws of Zynex, Inc.](zyxi-20260326xex3d2.htm) |
| 3.3 | [Second Amended and Restated Articles of Incorporation of Zynex, Inc. (marked to show amendments)](zyxi-20260326xex3d3.htm) |
| 3.4 | [Second Amended and Restated Bylaws of Zynex, Inc. (marked to show amendments)](zyxi-20260326xex3d4.htm) |
| 104 | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| DATED: March 26, 2026 | **ZYNEX, INC.** | **ZYNEX, INC.** |
|  | By: | */s/ John Bibb* |
|  | Name: | John Bibb |
|  | Title: | Chief Legal Officer |

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## Exhibit 3.1

*Exhibit 3.1*

**SECOND AMENDED AND RESTATED**

**ARTICLES OF INCORPORATION**

**OF**

**ZYNEX, INC.**

The undersigned, Steven Dyson, hereby certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.He is the duly elected and acting Chief Executive Officer of Zynex, Inc., a Nevada corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The Articles of Incorporation of this corporation were originally filed with the Secretary of State of Nevada on December 31, 2001. The corporation's Articles of Incorporation were amended and restated on October 3, 2008.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.The Amended and Restated Articles of Incorporation of this corporation shall be amended and restated to read in their entirety as follows:

**ARTICLE 1.** **NAME.** The name of the corporation is:

ZYNEX, INC.

**ARTICLE 2.** **CAPITALIZATION.** The corporation is authorized to issue one class of capital stock designated as "Common Stock". The total number of shares which the corporation is authorized to issue is 1,000,000 shares of Common Stock, with a par value of $0.001 per share.

**ARTICLE 3.** **DIRECTORS.** The members of the governing board shall be styled as directors. The number of directors may be increased or reduced in the manner provided for in the Bylaws of the corporation.

**ARTICLE 4.** **INDEMNIFICATION.** The corporation shall indemnify its officers and directors and may indemnify any other person to the fullest extent permitted by law.

**ARTICLE 5.** **DISTRIBUTIONS.** Subject to the terms of these Second Amended and Restated Articles of Incorporation and to the fullest extent permitted by the Nevada Revised Statutes, the corporation shall be expressly permitted to redeem, repurchase, or make distributions, as that term is defined in Section 78.191 of the Nevada Revised Statutes, with respect to the shares of its capital stock in all circumstances other than where doing so would cause the corporation to be unable to pay its debts as they become due in the usual course of business.

**ARTICLE 6.** **LIABILITY OF DIRECTORS AND OFFICERS**. To the maximum extent permitted under the Nevada Revised Statutes, no director or officer of the corporation shall be personally liable to the corporation or its stockholders for damages as a result of any act or failure to act in his capacity as a director or officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The foregoing Second Amended and Restated Articles of Incorporation have been duly and unanimously adopted and approved by this corporation's Board of Directors and

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stockholders in accordance with the applicable provisions of Chapter 78 of the Nevada Revised Statutes.

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated this 26th day of March, 2026. |  |
|  | /s/ *Steven Dyson* |
|  | Steven Dyson, Chief Executive Officer |

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## Exhibit 3.2

*Exhibit 3.2*

**SECOND AMENDED & RESTATED BYLAWS**

**OF**

**ZYNEX, INC.**

**a Nevada corporation**

**(March 26, 2026)**

<u>ARTICLE I.</u>

<u>OFFICES</u>

Section 1.<u>Registered Office</u>. The registered office shall be maintained at such place as the Board of Directors shall determine from time to time.

Section 2.<u>Other Offices</u>. The corporation may also have offices at such other places both within and without the State of Nevada as the Board of Directors may from time to time determine or the business of the corporation may require.

<u>ARTICLE II.</u>

<u>STOCKHOLDERS</u>

Section 1.<u>Meetin</u>gs. All meetings of stockholders, for any purpose, may be held at such time and place, within or without the State of Nevada, as shall be stated in the notice of meeting or in a duly executed waiver of notice thereof.

Section 2.<u>Annual Meetin</u>g. The annual meeting of stockholders shall be held on the day and at the time set by the Board of Directors, if not a legal holiday, and if a legal holiday, then on the next regular business day following, at the hour set forth in the notice thereof. At such annual meeting, the stockholders shall elect, by a plurality vote, a Board of Directors and transact such other business as may properly be brought before the meeting. Notwithstanding the foregoing, in the event that the Directors are elected by written consent of the stockholders in accordance with Article II, Section 11 of these Bylaws and NRS 78.320, an annual meeting of stockholders shall not be required to be called or held for such year, but the Directors may call and notice an annual meeting for any other purpose or purposes.

*Section 3.*<u>Notice of Annual Meetin</u>g. Written notice of the annual meeting shall be given to each stockholder entitled to vote thereat at least ten (10) days but not more than sixty (60) days before the date of the meeting. The notice must state the purpose or purposes for which the meeting is called and the time when, and the place where, the meeting is to be held.

Section 4.<u>List of Stockholders</u>. The officer who has charge of the stock ledger of the corporation shall prepare and make a complete list of the stockholders entitled to vote for the election of Directors, arranged in alphabetical order, showing the address of and the number of shares registered in the name of each stockholder, and the list shall be produced and kept at the

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time and place of election during the whole time thereof and be subject to the inspection of any stockholder who may be present.

Section 5.<u>Special Meetin</u>gs. Special meetings of the stockholders, for any purpose or purposes, unless otherwise prescribed by statute or by the Articles of Incorporation, may be called at any time by the Board of Directors, the President or the holders of a majority of the outstanding shares of capital stock of the Company entitled to vote at such meeting. Such request shall state the purpose or purposes of the proposed meeting.

Section 6.<u>Notice of Special Meetin</u>gs. Written notice of a special meeting of stockholders stating the purpose or purposes for which the meeting is called, time when, and place where, the meeting will be held, shall be given to each stockholder entitled to vote thereat, at least ten (10) days but not more than sixty (60) days before the date fixed for the meeting.

Section 7.<u>Limitation on Business</u>. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice.

Section 8.Q<u>uorum</u>. Stockholders of the corporation holding at least a majority of the voting power of the corporation, present in person or represented by proxy, regardless of whether the proxy has authority to vote on all matters, shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the Articles of Incorporation. If, however, a quorum shall not be present or represented at any meeting of the stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. At any adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally noticed.

Section 9.<u>Voting Required for Action</u>. Each outstanding share of stock, regardless of class or series, shall be entitled to one vote on each matter submitted to a vote at a meeting of stockholders, except as otherwise provided by these Bylaws and to the extent that the Articles of Incorporation or the certificate of designation establishing the class or series of stock provides for more or less than one vote per share or limits or denies voting rights to the holders of the shares of any class or series of stock. The vote of a majority of the shares of the corporation present, either in person or by proxy, at any meeting at which a quorum is present shall constitute the act of the stockholders, unless the question is one upon which by express provision of the statutes or of the Articles of Incorporation, the Bylaws of the corporation, or an express agreement in writing, a different vote is required, in which case such express provision shall govern and control the decision of such question. Voting for Directors shall be in accordance with Article II, Section 2, of these Bylaws.

Section 10.<u>Proxies</u>. Except as otherwise provided in the Articles of Incorporation or in a Certificate of Designation or similar document filed with the Secretary of State of Nevada in accordance with Section 78.1955 of the Nevada Revised Statutes, each stockholder may vote either in person or by proxy executed in writing by the stockholder, but no proxy shall be valid after the expiration of six (6) months from the date of its execution unless (a) coupled with an interest, or

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(b) the person executing it specifies therein the length of time for which it is to be continued in force, which in no case shall exceed seven (7) years from the date of its execution.

Section 11.<u>Action by Consent</u>. Any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if, before or after the action, a written consent thereto is signed by stockholders holding at least a majority of the voting power, except that if any different proportion of voting power is required for such action at a meeting, then such different proportion of written consents shall be required. In no instance where action is authorized by written consent, need a meeting of stockholders be called or noticed.

Section 12.<u>Telephonic Meetin</u>gs. Stockholders may participate in a meeting of stockholders by means of a telephone conference or similar method of communication by which all persons participating in the meeting can hear one another. Participation in such meeting shall constitute presence in person at the meeting.

Section 13.<u>Closing of Transfer Books/Record Date</u>. The Board of Directors may close the stock transfer books of the corporation for a period not exceeding sixty (60) days preceding the date of any meeting of stockholders or the date for payment of any dividend or the date when any change or conversion or exchange of capital stock shall go into effect or for a period not exceeding sixty (60) days in connection with obtaining the consent of stockholders for any purpose. In lieu of closing the stock transfer books, the Board of Directors may fix in advance a record date, not more than sixty (60) days or less than ten (10) days before the date of any meeting of stockholders, or the date for the payment of any dividend, or the date for the allotment of rights, or the date when any change or conversion or exchange of capital stock shall go into effect, or a date in connection with obtaining such consent, as a record date for the determination of the stockholders entitled to notice of, and to vote at, any such meeting, and any adjournment thereof, or entitled to receive payment of any such dividend, or to any such allotment of rights, or to exercise the rights in respect of any such change, conversion or exchange of capital stock, or to give such consent, and in such case such stockholders and only such stockholders as shall be stockholders of record on the date so fixed shall be entitled to such notice of, and to vote at, such meeting and any adjournment thereof, or to receive payment of such dividend, or to receive such allotment of rights or to exercise such rights, or to give such consent, as the case may be, notwithstanding any transfer of any stock on the books of the corporation after any such record date fixed as aforesaid. If no record date is fixed for such distribution or issuance, the record date shall be the date on which the resolution of the Board of Directors authorizing the distribution or issuance is adopted.

Section 14.<u>Registered Stockholders</u>. The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner, and the corporation shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Nevada.

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<u>ARTICLE III.</u>

<u>DIRECTORS</u>

Section 1.<u>Number</u>. The number of Directors which shall constitute the whole Board shall be fixed by the Board of Directors of the corporation at any regular or special meeting thereof (or appropriate written consent thereby) subject to any limitations prescribed in the Articles of Incorporation. The Directors shall either be elected by written consent in accordance with Article II, Section 11 of these Bylaws and NRS 78.320 or at the annual meeting of the stockholders, except as provided in Sections 2 and 3 of this Article, and each Director elected shall hold office until his or her successor is elected and qualified or until the his or her earlier death, resignation, disqualification, or removal. Directors need not be stockholders. If, for any reason, Directors are not elected pursuant to NRS 78.320 or at the annual meeting of the stockholders, they may be elected at a special meeting of the stockholders called and held for that purpose.

Section 2.<u>Vacancies</u>. Vacancies and newly created directorships resulting from any increase in the authorized number of Directors or due to the death, resignation, disqualification, or removal of a director or otherwise, may be filled by a majority of the remaining Directors then in office, though less than a quorum, and the Directors so chosen shall hold office until their successors are duly elected and shall qualify, unless sooner displaced.

Section 3.<u>Removal by Stockholders</u>. Any Director or one or more of the incumbent Directors of the corporation may be removed from office at any time, with or without cause, by a vote of stockholders representing not less than two-thirds of the voting power of the issued and outstanding stock entitled to voting power (or such higher amount as may be set forth in the Articles of Incorporation), in which event the vacancy or vacancies so created shall be filled by a majority of the remaining Directors, though less than a quorum, as provided in Section 2 of this Article. Notwithstanding the foregoing, in the event that any class or series of stockholders is entitled to elect one or more Directors, only the approval of the holders of the applicable proportion of such class or series is required to remove such Director(s) and not the votes of the outstanding shares as a whole.

Section 4.<u>Management of Business</u>. The business of the corporation shall be managed by its Board of Directors which may exercise all such powers of the corporation and do all such lawful acts and things as are not by statute or by the Articles of Incorporation or by these Bylaws directed or required to be exercised or done by the stockholders.

Section 5.<u>Meetin</u>gs. The Board of Directors of the corporation may hold meetings, both regular and special, either within or without the State of Nevada.

Section 6.<u>Annual Meetin</u>g. The first meeting of each newly elected Board of Directors may be held following the annual meeting of stockholders. If such annual meeting of directors is not a regular meeting of the Board of Directors, such meeting may be held at such time and place as shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors or as shall be specified in a written waiver signed by all of the Directors.

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Section 7.<u>Regular Meetin</u>gs. Regular meetings of the Board of Directors may be held without notice at such time and at such place as from time to time shall be determined by the Board.

Section 8.<u>Special Meetin</u>gs. Special meetings of the Board may be called by the Chief Executive Officer or the President on one (1) days' notice to each director, either personally or by telephone or electronic transmission, or at least three days if the notice is given by mail. Special meetings shall be called by the Chief Executive Officer or President in like manner and on like notice on the written request of a majority of the Directors.

Section 9.<u>Quorum and Votin</u>g. A majority of the Directors then in office, at a meeting duly assembled, shall constitute a quorum for the transaction of business, and the act of the Directors holding a majority of the voting power of the Directors, present at any meeting at which there is a quorum, shall be the act of the Board of Directors except as may be otherwise specifically provided by statute or by the Articles of Incorporation. If a quorum shall not be present at any meeting of the Board of Directors, the Directors present may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

Section 10.<u>Meetings by Consent</u>. Unless otherwise restricted by the Articles of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting if, before or after the action, a written consent thereto is signed by all members of the Board or of such committee, as the case may be.

Section 11.<u>Telephonic Meetin</u>gs. Members of the Board of Directors or any committee designated by the Board of Directors may participate in a meeting of the Board of Directors or committee by means of a telephone conference system or similar method of communication by which all persons participating in the meeting can hear one another. Participation in such meeting constitutes presence in person at such meeting.

Section 12.<u>Committees</u>. The Board of Directors, by resolution, resolutions or as set forth in these Bylaws, may designate one (1) or more committees, which, to the extent provided in the resolution, resolutions or in these Bylaws, shall have and may exercise the powers of the Board of Directors in the management of the business and affairs of the corporation. Each committee must include at least one Director. The Board of Directors may appoint natural persons who are not Directors to serve on any committee. Each committee must have the name or names as may be designated in these Bylaws or as may be determined from time to time by resolution adopted by the Board of Directors. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors as and when required.

Section 13.<u>Compensation</u>. The Directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors. Directors shall not receive any stated salary for their services. No such payment shall preclude any Director from serving the corporation in any other capacity and receiving compensation therefore. Members of special or standing committees may be allowed like compensation for attending committee meetings.

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Section 14.<u>Chairman of the Board/Organization of Meetings</u>. The Board of Directors may elect, among its members, a chairman of the Board of Directors. The chairman of the Board of Directors, if one be elected, shall preside, if present and unless otherwise determined by the Board of Directors, at all meetings of the stockholders and at all meetings of the Board of Directors, and he or she shall perform such other duties and have such other powers as may from time to time be designated and assigned to him or her by the Board of Directors. At each meeting of the Board of Directors, the chairman of the Board of Directors, or, in his or her absence or nonelection, a director chosen by a majority of the directors, shall act as chairman of the meeting. The Secretary, or in the absence of the secretary, any person appointed by the chairman of the meeting, shall act as secretary of the meeting.

Section 15.<u>Resignation</u>. A director may resign at any time by giving written notice to the Board of Directors, its chair, or to the Secretary of the Corporation. A resignation is effective when the notice is given unless a later effective date is stated in the notice. Acceptance of the resignation shall not be required to make the resignation effective. The pending vacancy may be filled before the effective date, but the successor shall not take office until the effective date.

<u>ARTICLE IV.</u>

<u>NOTICES</u>

Section 1.<u>General</u>. Notices to Directors and stockholders shall be in writing and delivered personally or mailed to the Directors or stockholders at their addresses appearing on the books of the corporation. Notice by mail shall be deemed to be given at the time when the same shall be mailed. Notice to Directors may also be given by other media, including electronic transmission, if the sending of notice by such other media may be verified or confirmed. Notice to stockholders may also be given by other media, including electronic transmission, in the manner and to the extent permitted by statute.

Section 2.<u>Waiver of Notice</u>. Whenever any notice is required to be given under the provisions of the statutes or of the Articles of Incorporation or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto.

<u>ARTICLE V.</u>

<u>OFFICERS</u>

Section 1.<u>General</u>. The officers of the corporation shall be chosen by the Board of Directors and shall at a minimum consist of a President, a Secretary and a Treasurer. The Board of Directors may also choose a Chairman of the Board, Chief Executive Officer, Chief Financial Officer and one (1) or more Assistant Secretaries and Assistant Treasurers. Two (2) or more offices may be held by the same person. The officers of the corporation shall exercise such authority and perform such duties as shall be determined from time to time by these Bylaws or the Board of Directors. Each of such officers shall serve until his or her successor is duly appointed and qualified, but any officer may be removed by the Board at any time with or without cause and with

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or without hearing or notice of hearing. Vacancies among the officers by reason of death, resignation or other cause shall be filled by the Board.

Section 2.<u>Appointment</u>. The Board of Directors shall appoint the officers of the corporation who shall hold office at the pleasure of the Board of Directors. No officer need be a member of the Board of Directors.

Section 3.<u>Other Officers</u>. The Board of Directors may appoint other officers and agents as it shall deem necessary who shall hold their positions for such terms and exercise such powers and perform such duties as shall be determined from time to time by the Board unless otherwise received in writing. Any such officer or agent may be removed at any time, with or without cause, by the Board of Directors unless otherwise agreed in writing.

Section 4.<u>Compensation</u>. The salaries and other compensation of all officers of the corporation shall be fixed by the Board of Directors unless otherwise agreed in writing.

Section 5.Powers and Duties of Officers. The powers and duties of the officers of the Corporation shall be as provided from time to time by resolution of the Board of Directors or by direction of an officer authorized by the Board of Directors to prescribe the duties of other officers. In the absence of such resolution, the respective officers shall have the powers and shall discharge the duties customarily and usually held and performed by like officers of corporations similar in organization and business purposes to the Corporation, subject to the control of the Board of Directors.

<u>ARTICLE VI.</u>

<u>SHARES OF CAPITAL STOCK</u>

Section 1.<u>Certificates</u>. The shares of the Corporation's stock may be certificated or uncertificated, as provided under NRS 78.235, and shall be entered in the books of the Corporation and registered as they are issued. Any certificates representing shares of stock shall be in such form as shall be approved by the Board of Directors. Every holder of stock represented by certificates and upon request every holder of uncertificated shares shall be entitled to have a certificate, signed by or in the name of the Corporation by any two authorized officers of the Corporation, representing the number of shares registered in certificate form. Any and all signatures on any such certificate may be facsimiles. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer, transfer agent or registrar at the date of issue. The name of the holder of record of the shares represented thereby, with the number of such shares and the date of issue, shall be entered on the books of the Corporation.

Section 2.<u>Lost Certificates</u>. The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost or destroyed. When authorizing such issuance of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition

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precedent to the issuance thereof, require the owner of such lost or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and to give the corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the corporation with respect to the certificate alleged to have been lost or destroyed.

Section 3.<u>Transfer of Stock</u>. Transfers of share certificates and the shares represented thereby shall be made on the books of the Company only by the registered holder or by a duly authorized attorney. Transfers shall be made only upon surrender of the share certificate or certificates.

<u>ARTICLE VII.</u>

<u>GENERAL PROVISIONS</u>

Section 1.<u>Dividends</u>. Dividends upon the capital stock of the corporation may be declared by the Board of Directors out of funds legally available therefore at any regular or special meeting. Dividends may be paid in cash, in property, or in shares of the capital stock of the corporation.

Section 2.<u>Reserves</u>. Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends, such sum or sums as the Board of Directors from time to time, in its absolute discretion, thinks proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the Directors shall think conducive to the interest of the corporation, and the Directors may modify or abolish any such reserve in the manner in which it was created.

Section 3.<u>Checks</u>. All checks or demands for money and notes of the corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.

Section 4.<u>Fiscal Year</u>. The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

Section 5.<u>Seal</u>. The corporate seal, if there be one, shall have inscribed thereon the words, "State of Nevada."

Section 6.<u>Captions</u>. Captions used in these Bylaws are for convenience only and are not a part of these Bylaws and shall not be deemed to limit or alter any provisions hereof and shall not be deemed relevant in construing these Bylaws.

Section 7.<u>Interpretations</u>. To the extent permitted by the context in which used, words in the singular number shall include the plural, words in the masculine gender shall include the feminine and neuter, and vice versa. If any provisions of these Bylaws shall be found to be inconsistent with any provisions of the Articles of Incorporation, as the same may be amended from time to time, the Articles of Incorporation shall govern.

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<u>ARTICLE VIII.</u>

<u>AMENDMENTS</u>

Section 1.<u>Amendments</u>. These Bylaws may be amended or repealed at any regular meeting of the stockholders or of the Board of Directors, or at any special meeting of the stockholders or of the Board of Directors, if notice of such alteration or repeal be contained in the notice of such special meeting.

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## Exhibit 3.3

*Exhibit 3.3*

**SECOND AMENDED AND RESTATED**

**ARTICLES OF INCORPORATION**

**OF**

**ZYNEX, INC.**

The undersigned Thomas Sandgaard<u>, Steven Dyson,</u> hereby certifies that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.He is the duly elected and acting President<u>Chief Executive Officer</u> of Zynex, Inc., a Nevada corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.The Articles of Incorporation of this corporation were originally filed with the Secretary of State of Nevada on December 31, 2001. <u>The corporation's Articles of Incorporation were amended and restated on October 3, 2008.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.The <u>Amended and Restated</u> Articles of Incorporation of this corporation shall be amended and restated to read in their entirety as follows:

**ARTICLE 1.** **NAME.** The name of the corporation is:

ZYNEX, INC.

**ARTICLE 2.** **CAPITALIZATION.** <u>The corporation is authorized to issue one class of capital stock designated as "Common Stock".</u> The total number of shares of stock which the C<u>c</u>orporation shall have the<u>is</u> authority<u>zed</u> to issue is one hundred ten million (110,000,000) shares, consisting of one hundred million (100,000,000)<u>1,000,000</u> shares of Common Stock having<u>, with</u> a par value of $.001 per share and ten million (10,000,000) shares of Preferred Stock having a par value of $.001<u>0.001</u> per share.

The Preferred Stock may be divided into such number of series as the Board of Directors may determine. The Board of Directors is authorized to determine and alter the rights, preferences, privileges and restrictions granted to and imposed upon any wholly unissued series of Preferred Stock, and to fix the number of shares of any series of Preferred Stock and the designation of any such series of Preferred Stock. The Board of Directors, within the limits and restrictions stated in any resolution or resolutions of the Board of Directors originally fixing the number of shares constituting any series, may increase or decrease (but not below the number of shares of such series then outstanding) the number of shares of any series subsequent to the issue of shares of that series.

**ARTICLE 3.** **DIRECTORS.** The members of the governing board shall be styled <u>as</u> directors. The number of directors may be increased or reduced in the manner provided for in the Bylaws of the corporation.

**ARTICLE 4.** **INDEMNIFICATION.** The corporation shall indemnify its officers and directors and may indemnify any other person to the fullest extent permitted by law.

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**ARTICLE 5.** **DISTRIBUTIONS.** Subject to the terms of these <u>Second Amended and Restated</u> Articles of Incorporation and to the fullest extent permitted by the Nevada Revised Statutes, the corporation shall be expressly permitted to redeem, repurchase, or make distributions, as that term is defined in Section 78.191 of the Nevada Revised Statutes, with respect to the shares of its capital stock in all circumstances other than where doing so would cause the corporation to be unable to pay its debts as they become due in the usual course of business.

**ARTICLE 6.** **LIABILITY OF DIRECTORS AND OFFICERS**. To the maximum extent permitted under the Nevada Revised Statutes, no director or officer of the corporation shall be personally liable to the corporation or its stockholders for damages as a result of any act or failure to act in his capacity as a director or officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The foregoing <u>Second</u> Amended and Restated Articles of Incorporation have been duly and unanimously adopted and approved by this corporation's Board of Directors and stockholders in accordance with the applicable provisions of Chapter 78 of the Nevada Revised Statutes.

Dated this 3rd<u>26th</u> day of October<u>March</u>, 2008<u>2026</u>.

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| |
|:---|
| <u>/s/</u> <u>Thomas Sandgaard</u> <u>Steven Dyson</u> |
| Thomas Sandgaard, President |
| <u>Steven Dyson, Chief Executive Officer</u> |

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## Exhibit 3.4

*Exhibit 3.4*

**SECOND AMENDED & RESTATED BYLAWS**

**OF**

**ZYNEX, INC.**

**a Nevada corporation**

**(October 3March 26, 20082026)**

<u>ARTICLE I.</u>

<u>OFFICES</u>

Section 1.<u>Registered Office</u>. The registered office shall be maintained at such place as the Board of Directors shall determine from time to time.

Section 2.<u>Other Offices</u>. The corporation may also have offices at such other places both within and without the State of Nevada as the Board of Directors may from time to time determine or the business of the corporation may require.

<u>ARTICLE II.</u>

<u>STOCKHOLDERS</u>

Section 1.<u>Meetin</u>gs. All meetings of stockholders, for any purpose, may be held at such time and place, within or without the State of Nevada, as shall be stated in the notice of meeting or in a duly executed waiver of notice thereof.

Section 2.<u>Annual Meetin</u>g. The annual meeting of stockholders shall be held on the day and at the time set by the Board of Directors, if not a legal holiday, and if a legal holiday, then on the next regular business day following, at the hour set forth in the notice thereof. At such annual meeting, the stockholders shall elect, by a plurality vote, a Board of Directors and transact such other business as may properly be brought before the meeting. Notwithstanding the foregoing, in the event that the Directors are elected by written consent of the stockholders in accordance with Article II, Section 11 of these Bylaws and NRS 78.320, an annual meeting of stockholders shall not be required to be called or held for such year, but the Directors may call and notice an annual meeting for any other purpose or purposes.

*Section 3.*<u>Notice of Annual Meetin</u>g. Written notice of the annual meeting shall be given to each stockholder entitled to vote thereat at least ten (10) days but not more than sixty (60) days before the date of the meeting. The notice must state the purpose or purposes for which the meeting is called and the time when, and the place where, the meeting is to be held.

Section 4.<u>List of Stockholders</u>. The officer who has charge of the stock ledger of the corporation shall prepare and make a complete list of the stockholders entitled to vote for the election of Directors, arranged in alphabetical order, showing the address of and the number of shares registered in the name of each stockholder, and the list shall be produced and kept at the

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time and place of election during the whole time thereof and be subject to the inspection of any stockholder who may be present.

Section 5.<u>Special Meetin</u>gs. Special meetings of the stockholders, for any purpose or purposes, unless otherwise prescribed by statute or by the Articles of Incorporation, may be called by the President and shall be called by <u>at any time</u> <u>by the Board of Directors,</u> the President or Secretary at the request, in writing,<u>holders</u> of a majority of the Board of Directors, or at the request, in writing, of stockholders<u>outstanding shares of capital stock of the Company</u> entitled to exercise a majority of the voting power of the corporation<u>vote at such meeting</u>. Such request shall state the purpose or purposes of the proposed meeting.

Section 6.<u>Notice of Special Meetin</u>gs. Written notice of a special meeting of stockholders stating the purpose or purposes for which the meeting is called, time when, and place where, the meeting will be held, shall be given to each stockholder entitled to vote thereat, at least ten (10) days but not more than sixty (60) days before the date fixed for the meeting.

Section 7.<u>Limitation on Business</u>. Business transacted at any special meeting of stockholders shall be limited to the purposes stated in the notice.

Section 8.Q<u>uorum</u>. Stockholders of the corporation holding at least a majority of the voting power of the corporation, present in person or represented by proxy, regardless of whether the proxy has authority to vote on all matters, shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute or by the Articles of Incorporation. If, however, a quorum shall not be present or represented at any meeting of the stockholders, the stockholders entitled to vote thereat, present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present or represented. At any adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally noticed.

Section 9.<u>Voting Required for Action</u>. When <u>Each outstanding share of stock, regardless of class or series, shall be entitled to one vote on each matter submitted to a vote</u> <u>at a meeting of stockholders</u><u>, except as otherwise provided by these Bylaws and to the extent that the Articles of Incorporation or the certificate of designation establishing the class or series of stock provides for more or less than one vote per share or limits or denies voting rights to the holders of the shares of any class or series of stock. The vote of a majority of the shares of the corporation present, either in person or by proxy, at any meeting at which</u> a quorum is present <u>shall constitute the</u> a<u>c</u>t any meeting, action by<u>of</u> the stockholders on a matter other than the election of directors is approved if the number of votes cast in favor of the action exceeds the number of votes cast in opposition to the action, unless the question is one upon which by express provision of the statutes or of the Articles of Incorporation, the Bylaws of the corporation, or an express agreement in writing, a different vote is required, in which case such express provision shall govern and control the decision of such question. If voting by a class or series of stockholders is permitted or required, action by the stockholders of each class or series is approved if the number of votes cast in favor of the action by the class or series votes exceeds the number of votes cast in opposition by the class or series votes, unless the question is one upon which by express provision of the statute or of the Articles of Incorporation, the Bylaws of the corporation or an express agreement in writing, a

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different vote is required, in which case such express provision shall govern and control the decision of such question. Voting for Directors shall be in accordance with Article II, Section 2, of these Bylaws.

Section 10.<u>Proxies</u>. Except as otherwise provided in the Articles of Incorporation or in a Certificate of Designation or similar document filed with the Secretary of State of Nevada in accordance with Section 78.1955 of the Nevada Revised Statutes, each stockholder shall, at every meeting of the stockholders be entitled to one (1)<u>may</u> vote <u>either</u> in person or by proxy for each share of stock having voting power held by such<u>executed in writing by the</u> stockholder, but no proxy shall be valid after the expiration of six (6) months from the date of its execution unless (a) coupled with an interest, or (b) the person executing it specifies therein the length of time for which it is to be continued in force, which in no case shall exceed seven (7) years from the date of its execution.

Section 11.<u>Action by Consent</u>. Any action required or permitted to be taken at a meeting of the stockholders may be taken without a meeting if, before or after the action, a written consent thereto is signed by stockholders holding at least a majority of the voting power, except that if any different proportion of voting power is required for such action at a meeting, then such different proportion of written consents shall be required. In no instance where action is authorized by written consent, need a meeting of stockholders be called or noticed.

Section 12.<u>Telephonic Meetin</u>gs. Stockholders may participate in a meeting of stockholders by means of a telephone conference or similar method of communication by which all persons participating in the meeting can hear one another. Participation in such meeting shall constitute presence in person at the meeting.

Section 13.<u>Closing of Transfer Books/Record Date</u>. The Board of Directors may close the stock transfer books of the corporation for a period not exceeding sixty (60) days preceding the date of any meeting of stockholders or the date for payment of any dividend or the date when any change or conversion or exchange of capital stock shall go into effect or for a period not exceeding sixty (60) days in connection with obtaining the consent of stockholders for any purpose. In lieu of closing the stock transfer books, the Board of Directors may fix in advance a record date, not more than sixty (60) days or less than ten (10) days before the date of any meeting of stockholders, or the date for the payment of any dividend, or the date for the allotment of rights, or the date when any change or conversion or exchange of capital stock shall go into effect, or a date in connection with obtaining such consent, as a record date for the determination of the stockholders entitled to notice of, and to vote at, any such meeting, and any adjournment thereof, or entitled to receive payment of any such dividend, or to any such allotment of rights, or to exercise the rights in respect of any such change, conversion or exchange of capital stock, or to give such consent, and in such case such stockholders and only such stockholders as shall be stockholders of record on the date so fixed shall be entitled to such notice of, and to vote at, such meeting and any adjournment thereof, or to receive payment of such dividend, or to receive such allotment of rights or to exercise such rights, or to give such consent, as the case may be, notwithstanding any transfer of any stock on the books of the corporation after any such record date fixed as aforesaid. <u>If no record date is fixed for such distribution or issuance, the record date shall be the date on which the resolution of the Board of Directors authorizing the distribution or issuance is adopted.</u>

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Section 14.<u>Registered Stockholders</u>. The corporation shall be entitled to recognize the exclusive right of a person registered on its books as the owner of shares to receive dividends and to vote as such owner, and the corporation shall not be bound to recognize any equitable or other claim to or interest in such share or shares on the part of any other person, whether or not it shall have express or other notice thereof, except as otherwise provided by the laws of Nevada.

Section 15. <u>Nominations and Proposals by Stockholders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Annual Meetings of Stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Nominations of persons for election to the Board of Directors and the proposal of business to be considered by the stockholders may be made at an annual meeting of stockholders (i) pursuant to the corporation's notice of meeting, (ii) by or at the direction of the Board of Directors or (iii) by any stockholder of the corporation who was a stockholder of record both at the time of giving of notice provided for in this Section 15(a) and at the time of the annual meeting, who is entitled to vote at the meeting and who complied with the notice procedures set forth in this Section 15(a).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) For nominations for election to the Board of Directors or other business to be properly brought before an annual meeting by a stockholder pursuant to clause (iii) of paragraph (a)(1) of this Section 15, the stockholder must have given timely notice thereof in writing to the Secretary of the corporation and such other business must otherwise be a proper matter for action by the stockholders. To be timely, a stockholder's notice shall set forth all information required under this Section 15 and shall be delivered to the Secretary at the principal executive office of the corporation not earlier than the 150th day nor later than 5:00 P.M., Mountain Time, on the 120th day prior to the first anniversary of the date of mailing of the notice for the preceding year's annual meeting; provided, however, that in the event that the date of the annual meeting is advanced or delayed by more than 30 days from the first anniversary of the date of the preceding year's annual meeting, notice by the stockholder to be timely must be so delivered not earlier than the 150th day prior to the date of such annual meeting and not later than 5:00 P.M., Mountain Time, on the later of the 120th day prior to the date of such annual meeting or the tenth day following the day on which public announcement of the date of such meeting is first made by the corporation. In no event shall the public announcement of a postponement of the mailing of the notice for such annual meeting or of an adjournment or postponement of an annual meeting to a later date or time commence a new time period for the giving of a stockholder's notice as described above. A stockholder's notice to be proper must set forth (i) as to each person whom the stockholder proposes to nominate for election or reelection as a director (A) the name, age, business address and residence address of such person, (B) the class, series and number of any shares of stock of the corporation that are beneficially owned or owned of record by such person, (C) the date or dates such shares were acquired and the investment intent of such acquisition, and (D) all other information relating to such person that is required to be disclosed in solicitations of proxies for election of directors in an election contest (even if an election contest is not involved), or is otherwise required, in each case pursuant to Regulation 14A (or any successor provision) under the Securities Exchange Act of 1934 as amended from time to time ("Exchange Act") and the rules thereunder (including such person's written consent to being named in a proxy statement or information statement (if any) as a nominee and to serving as a director if elected); (ii) as to any other business that the stockholder proposes to bring before the meeting, a description of such business, the reasons for conducting such business at the meeting and any material interest in such business of such stockholder and any Stockholder Associated Person (as defined below), individually or in the aggregate,

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including any anticipated benefit to the stockholder or the Stockholder Associated Person therefrom; (iii) as to the stockholder giving the notice and any Stockholder Associated Person, (A) the class, series and number of all shares of stock of the corporation which are owned by such stockholder and by such Stockholder Associated Person, if any, (B) the nominee holder for, and number of, shares owned beneficially but not of record by such stockholder and by any such Stockholder Associated Person, and (C) whether and the extent to which any hedging or other transaction or series of transactions has been entered into by or on behalf of, or any other agreement, arrangement or understanding (including any short position or any borrowing or lending of shares) has been made, the effect or intent of which is to mitigate loss to or manage risk or benefit of share price changes for, or to increase or decrease the voting power of, such stockholder or any such Stockholder Associated Person with respect to any share of stock of the corporation; (iv) as to the stockholder giving the notice and any Stockholder Associated Person covered by clauses (ii) or (iii) of this paragraph (2) of this Section 15(a), the name and address of such stockholder, as they appear on the corporation's stock ledger, and current name and address, if different, and of such Stockholder Associated Person; and (v) to the extent known by the stockholder giving the notice, the name and address of any other stockholder supporting the nominee for election or reelection as a director or the proposal of other business on the date of such stockholder's notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) For purposes of this Section 15, "Stockholder Associated Person" of any stockholder shall mean (i) any person controlling, directly or indirectly, or acting in concert with, such stockholder, (ii) any beneficial owner of shares of stock of the corporation owned of record or beneficially by such stockholder and (iii) any person controlling, controlled by or under common control with such Stockholder Associated Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Special Meetings of Stockholders</u>.

Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the corporation's notice of meeting. Nominations of persons for election to the Board of Directors may be made at a special meeting of stockholders at which directors are to be elected (i) pursuant to the corporation's notice of meeting, (ii) by or at the direction of the Board of Directors or (iii) provided that the Board of Directors has determined that directors shall be elected at such special meeting, by any stockholder of the corporation who is a stockholder of record both at the time of giving of notice provided for in this Section 15(b) and at the time of the special meeting, who is entitled to vote at the meeting and who complied with the notice procedures set forth in this Section 15(b). 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 such stockholder may nominate a person or persons (as the case may be) for election to such position as specified in the corporation's notice of meeting, if the stockholder's notice required by paragraph (a)(2) of this Section 15 shall be

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delivered to the Secretary at the principal executive office of the corporation not earlier than 5:00 P.M., Mountain Time, on the 150<sup>th</sup> day prior to such special meeting and not later than 5:00 P.M., Mountain Time, on the later of the 120<sup>th</sup> day prior to such special meeting or the tenth day following the day on which public announcement is first made of the date of the special meeting and the nominees proposed by the Board of Directors to be elected at such meeting. In no event shall the public announcement of a postponement or adjournment of a special meeting to a later date or time commence a new time period for the giving of a stockholder's notice as described above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>General</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) If information submitted pursuant to this Section 15 by any stockholder proposing a nominee for election as a director or any proposal for other business at a meeting of stockholders shall be inaccurate to any material extent, such information may be deemed not to have been provided in accordance with this Section 15. Upon written request by the Secretary, the Board of Directors or any committee thereof, any stockholder proposing a nominee for election as a director or any proposal for other business at a meeting of stockholders shall provide, within seven Business Days of delivery of such request (or such other period as may be specified in such request), written verification, satisfactory in the discretion of the Board of Directors, any committee thereof or any authorized officer of the corporation, to demonstrate the accuracy of any information submitted by the stockholder pursuant to this Section 15. If a stockholder fails to provide such written verification within such period, the information as to which written verification was requested may be deemed not to have been provided in accordance with this Section 15.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Only such persons who are nominated in accordance with the procedures set forth in this Section 15 shall be eligible to serve as directors and only such business shall be conducted at a meeting of stockholders as shall have been brought before the meeting in accordance with the procedures set forth in this Section 15. The chairman of the meeting shall have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made or proposed, as the case may be, in accordance with the procedures set forth in this Section 15 and, if any proposed nomination or business is not in compliance with this Section 15, to declare that such defective nomination or proposal be disregarded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) For purposes of this Section 15, (a) the "date of mailing of the notice" shall mean the date of the proxy statement for the solicitation of proxies for election of directors and (b) "public announcement" shall mean disclosure (i) in a press release either transmitted to the principal securities exchange on which shares of the corporation's common stock are traded or reported by a recognized news service or (ii) in a document publicly filed by the corporation with the Securities and Exchange Commission pursuant to the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Notwithstanding the foregoing provisions of this Section 15, a stockholder shall also comply with all applicable requirements of state law and of the Exchange Act and the rules and regulations thereunder with respect to the matters set forth in this Section 15. Nothing in this Section 15 shall be deemed to affect any right of a stockholder to request inclusion of proposals or nominations in, nor the right of the corporation to omit a proposal or nomination from, the corporation's proxy statement pursuant to any rules and regulations, if applicable, under the Exchange Act.

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<u>ARTICLE III.</u>

<u>DIRECTORS</u>

Section 1.<u>Number</u>. The number of Directors which shall constitute the whole Board shall be fixed by the Board of Directors of the corporation at any regular or special meeting thereof (or appropriate written consent thereby) subject to any limitations prescribed in the Articles of Incorporation. The Directors shall either be elected by written consent in accordance with Article II, Section 11 of these Bylaws and NRS 78.320 or at the annual meeting of the stockholders, except as provided in Sections 2 and 3 of this Article, and each Director elected shall hold office until his <u>or her</u> successor is elected and qualified <u>or until the his or her earlier death, resignation, disqualification, or removal</u>. Directors need not be stockholders. If, for any reason, Directors are not elected pursuant to NRS 78.320 or at the annual meeting of the stockholders, they may be elected at a special meeting of the stockholders called and held for that purpose.

Section 2.<u>Vacancies</u>. Vacancies and newly created directorships resulting from any increase in the authorized number of Directors <u>or due to the death, resignation, disqualification, or removal of a director or otherwise,</u> may be filled by a majority of the <u>remaining</u> Directors then in office, though less than a quorum, and the Directors so chosen shall hold office until their successors are duly elected and shall qualify, unless sooner displaced.

Section 3.<u>Removal by Stockholders</u>. Any Director or one or more of the incumbent Directors of the corporation may be removed from office <u>at any time, with or without cause,</u> by a vote of stockholders representing not less than two-thirds of the voting power of the issued and outstanding stock entitled to voting power (or such higher amount as may be set forth in the Articles of Incorporation), in which event the vacancy or vacancies so created shall be filled by a majority of the remaining Directors, though less than a quorum, as provided in Section 2 of this Article. Notwithstanding the foregoing, in the event that any class or series of stockholders is entitled to elect one or more Directors, only the approval of the holders of the applicable proportion of such class or series is required to remove such Director(s) and not the votes of the outstanding shares as a whole.

Section 4.<u>Management of Business</u>. The business of the corporation shall be managed by its Board of Directors which may exercise all such powers of the corporation and do all such lawful acts and things as are not by statute or by the Articles of Incorporation or by these Bylaws directed or required to be exercised or done by the stockholders.

Section 5.<u>Meetin</u>gs. The Board of Directors of the corporation may hold meetings, both regular and special, either within or without the State of Nevada.

Section 6.<u>Annual Meetin</u>g. The first meeting of each newly elected Board of Directors may be held following the annual meeting of stockholders. If such annual meeting of directors is not a regular meeting of the Board of Directors, such meeting may be held at such time and place as shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors or as shall be specified in a written waiver signed by all of the Directors.

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Section 7.<u>Regular Meetin</u>gs. Regular meetings of the Board of Directors may be held without notice at such time and at such place as from time to time shall be determined by the Board.

Section 8.<u>Special Meetin</u>gs. Special meetings of the Board may be called by the <u>Chief Executive Officer or the</u> President on two<u>one</u> (2<u>1</u>) days' written<u>'</u> notice to each D<u>d</u>irector<u>, either personally or by telephone or electronic transmission, or at least three days if the notice is given by mail</u>. Special meetings shall be called by the <u>Chief Executive Officer or</u> President or Secretary in like manner and on like notice on the written request of a majority of the Directors.

Section 9.<u>Quorum and Votin</u>g. A majority of the Directors then in office, at a meeting duly assembled, shall constitute a quorum for the transaction of business, and the act of the Directors holding a majority of the voting power of the Directors, present at any meeting at which there is a quorum, shall be the act of the Board of Directors except as may be otherwise specifically provided by statute or by the Articles of Incorporation. If a quorum shall not be present at any meeting of the Board of Directors, the Directors present may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present.

Section 10.<u>Meetings by Consent</u>. Unless otherwise restricted by the Articles of Incorporation or these Bylaws, any action required or permitted to be taken at any meeting of the Board of Directors or of any committee thereof may be taken without a meeting if, before or after the action, a written consent thereto is signed by all members of the Board or of such committee, as the case may be.

Section 11.<u>Telephonic Meetin</u>gs. Members of the Board of Directors or any committee designated by the Board of Directors may participate in a meeting of the Board of Directors or committee by means of a telephone conference system or similar method of communication by which all persons participating in the meeting can hear one another. Participation in such meeting constitutes presence in person at such meeting.

Section 12.<u>Committees</u>. The Board of Directors, by resolution, resolutions or as set forth in these Bylaws, may designate one (1) or more committees, which, to the extent provided in the resolution, resolutions or in these Bylaws, shall have and may exercise the powers of the Board of Directors in the management of the business and affairs of the corporation. Each committee must include at least one Director. The Board of Directors may appoint natural persons who are not Directors to serve on any committee. Each committee must have the name or names as may be designated in these Bylaws or as may be determined from time to time by resolution adopted by the Board of Directors. Each committee shall keep regular minutes of its meetings and report the same to the Board of Directors as and when required.

Section 13.<u>Compensation</u>. The Directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors and may be paid a fixed sum for attendance at each meeting of the Board of Directors or a<u>. Directors shall not receive any</u> stated salary as a Director<u>for their services</u>. No such payment shall preclude any Director from serving the corporation in any other capacity and receiving compensation therefore. Members of special or standing committees may be allowed like compensation for attending committee meetings.

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<u>Section 14.</u><u>Chairman of the Board/Organization of Meetings. The Board of Directors may elect, among its members, a chairman of the Board of Directors. The chairman of the Board of Directors, if one be elected, shall preside, if present and unless otherwise</u> <u>determined by the Board of Directors,</u> <u>at</u> <u>all meetings of the stockholders and</u> <u>at all</u> <u>meetings of the Board of Directors</u><u>, and he or she</u> <u>shall perform such other duties and have such other powers as may from time to time</u> <u>be designated and assigned to him or her by the Board of Directors. At each meeting</u> <u>of the Board of Directors,</u> <u>the chairman of the Board of Directors, or, in his or her absence or nonelection, a director chosen by a majority of the directors, shall act as chairman of the meeting. The Secretary, or in the absence of the secretary, any person appointed by the chairman of the meeting, shall act as secretary of the meeting.</u>

<u>Section 15.</u><u>Resignation. A director may resign at any time by giving written notice</u> <u>to the Board of Directors</u><u>, its chair, or</u> <u>to the Secretary of the</u> <u>Corporation. A resignation is effective when the notice is given unless a later effective date is stated in the notice. Acceptance of the resignation shall not be required to make the resignation effective. The pending vacancy may be filled before the effective date, but the successor shall not take office until the effective date.</u>

<u>ARTICLE IV.</u>

<u>NOTICES</u>

Section 1.<u>General</u>. Notices to Directors and stockholders shall be in writing and delivered personally or mailed to the Directors or stockholders at their addresses appearing on the books of the corporation. Notice by mail shall be deemed to be given at the time when the same shall be mailed. Notice to Directors may also be given by other media, including electronic transmission, if the sending of notice by such other media may be verified or confirmed. Notice to stockholders may also be given by other media, including electronic transmission, in the manner and to the extent permitted by statute.

Section 2.<u>Waiver of Notice</u>. Whenever any notice is required to be given under the provisions of the statutes or of the Articles of Incorporation or of these Bylaws, a waiver thereof in writing, signed by the person or persons entitled to said notice, whether before or after the time stated therein, shall be deemed equivalent thereto.

<u>ARTICLE V.</u>

<u>OFFICERS</u>

Section 1.<u>General</u>. The officers of the corporation shall be chosen by the Board of Directors and shall at a minimum consist of a President, a Secretary and a Treasurer. The Board of Directors may also choose a Chairman of the Board, Chief Executive Officer, Chief Financial Officer and one (1) or more Assistant Secretaries and Assistant Treasurers. Two (2) or more offices may be held by the same person. The officers of the corporation shall hold their offices for such terms and shall exercise such authority and perform such duties as shall be determined from time to time by these Bylaws or the Board of Directors. <u>Each of such officers shall serve until his or her successor is duly appointed and qualified, but any officer may be removed by the Board at any</u>

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<u>time with or without cause and with or without hearing or notice of hearing. Vacancies among the officers by reason of death, resignation or other cause shall be filled by the Board.</u>

Section 2.<u>Appointment</u>. The Board of Directors shall appoint the officers of the corporation who shall hold office at the pleasure of the Board of Directors. No officer need be a member of the Board of Directors.

Section 3.<u>Other Officers</u>. The Board of Directors may appoint other officers and agents as it shall deem necessary who shall hold their positions for such terms and exercise such powers and perform such duties as shall be determined from time to time by the Board unless otherwise received in writing. Any such officer or agent may be removed at any time, with or without cause, by the Board of Directors unless otherwise agreed in writing.

Section 4.<u>Compensation</u>. The salaries and other compensation of all officers of the corporation shall be fixed by the Board of Directors unless otherwise agreed in writing.

Section 5. <u>Duties of CEO</u>. Unless otherwise determined by the Board of Directors, the Chief Executive Officer shall be the chief executive officer of the corporation and shall have general and active management of the business of the corporation and shall see that all orders and resolutions of the Board of Directors are carried into effect. He shall vote or execute, in the name of the corporation, proxies for, any securities pursuant to which the corporation has voting rights, unless some other person is designated by the Board of Directors to execute such proxies.<u>Powers and Duties of Officers. The powers and duties of the officers of the Corporation shall be as provided from time to time by resolution of</u> <u>the Board of Directors or</u> <u>by direction of an officer authorized</u> <u>by the Board of Directors to</u> <u>prescribe the duties of other officers. In the absence of such resolution, the respective officers shall have the powers and shall discharge the duties customarily and usually held and performed by like officers of corporations similar in organization and business purposes to the Corporation, subject to the control of the Board of Directors.</u>

Section 6. <u>Duties of Vice President</u>. The Vice President, if any, or if there shall be more than one (1), the Vice Presidents, in the order or seniority determined by the Board of Directors, shall, in the absence or disability of the Chief Executive Officer and President, perform the duties and exercise the powers of the Chief Executive Officer and President and shall perform such other duties and have such other powers as the Board of Directors may prescribe from time to time.

Section 7. <u>Duties of Secretary</u>. The Secretary shall attend all meetings of the Board of Directors and all meetings of the stockholders and record all the proceedings of the meetings of the corporation and of the Board of Directors in a book to be kept for that purpose and shall perform like duties for the standing committees when required. He shall give or cause to be given notice of all meetings of the stockholders and special meetings of the Board of Directors and shall perform such other duties as may be prescribed by the Board of Directors or the President, under whose supervision he shall be.

Section 8. <u>Duties of Assistant Secretaries</u>. The Assistant Secretary, or if there be more than one (1), the Assistant Secretaries, in the order of seniority determined by the Board of Directors, shall, in the absence or disability of the Secretary, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

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Section 9. <u>Duties of Treasurer</u>. The Treasurer shall have the custody of the corporate funds and securities and shall keep full and accurate accounts of receipts and disbursements in books belonging to the corporation and shall deposit all moneys and other valuable effects in the name and to the credit of the corporation in such depositories as may be designated by the Board of Directors. He shall disburse the funds of the corporation as may be ordered by the Board of Directors, taking proper vouchers for such disbursements, and shall render to the President and the Board of Directors, at its regular meetings, or when the Board of Directors so requires, an account of all his transactions as Treasurer and of the financial condition of the corporation. The Treasurer is authorized to execute and file on behalf of the corporation all federal tax returns and all elections under federal tax laws. If required by the Board of Directors, he shall give the corporation a bond in such sum and with such surety or sureties as shall be satisfactory to the Board of Directors for the faithful performance of the duties of his office and for the restoration to the corporation, in case of his death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in his possession or under his control, belonging to the corporation. Any of the duties and functions of the Treasurer as stated above may be performed by the Chief Financial Officer, alone or together with the Treasurer.

Section 10. <u>Duties of Assistant Treasurers</u>. The Assistant Treasurer, or if there shall be more than one (1), the Assistant Treasurers, in the order of seniority determined by the Board of Directors, shall, in the absence or disability of the Treasurer, perform the duties and exercise the powers of the Treasurer and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe. The Assistant Treasurer is also authorized to execute and file on behalf of the corporation all federal tax returns and all elections under federal tax laws.

<u>ARTICLE VI</u><u>.</u>

<u>SHARES OF CAPITAL STOCK</u> <u>CERTIFICATES OF STOCK</u>

Section 1.<u>Certificates</u>. <u>The shares of the Corporation's stock may be certificated or uncertificated, as provided under NRS 78.235, and shall be entered in the books of the Corporation and registered as they are issued. Any certificates representing shares of stock shall be in such form as shall be approved by the Board of Directors. Every holder of stock represented by certificates and upon request every holder of uncertificated shares shall be entitled to have a certificate, signed by or in the name of the Corporation by any two authorized officers of the Corporation, representing the number of shares registered in certificate form. Any and all signatures on any such certificate may be facsimiles. In case any officer, transfer agent or registrar who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer, transfer agent or registrar before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer, transfer agent or registrar at the date of issue. The name of the holder of record of the shares represented thereby, with the number of such shares and the date of issue, shall be entered on the books of the Corporation.</u> Every holder of stock in the corporation shall be entitled to have a certificate signed in the name of the corporation by the President or Chief Executive Officer and the Treasurer, the Chief Financial Officer or the Secretary of the corporation, certifying the number of shares owned by him in the corporation. When such certificate is signed (a) by a transfer agent or an assistant transfer agent or (b) by a transfer clerk acting on behalf of the corporation and registrar, the signature of any such officer may be facsimile.

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If the corporation shall be authorized to issue more than one class of stock or more than one series of any class of stock, the voting powers, qualifications, limitations, restrictions, designations, preferences and relative rights shall be set forth in full or summarized on the face or back of the certificate which the corporation shall issue to represent such class or series of stock; provided, however, that except as otherwise provided by applicable law, in lieu of the foregoing requirements, there may be set forth on the face or back of a certificate a statement directing the stockholder, officer or agent of the corporation who will furnish such a summary or description without charge upon written request by any stockholder. In case any officer or officers who shall have signed, or whose facsimile signature or signatures shall have been used on, any such certificate or certificates shall cease to be such officer or officers of the corporation, whether because of death, resignation or otherwise, before such certificate or certificates have been delivered by the corporation, such certificate or certificates may nevertheless be adopted by the corporation and be issued and delivered as though the person or persons who signed such certificate or certificates, or whose facsimile signature or signatures have been used thereon, had not ceased to be such officer or officers of the corporation.

Section 2.<u>Lost Certificates</u>. The Board of Directors may direct a new certificate or certificates to be issued in place of any certificate or certificates theretofore issued by the corporation alleged to have been lost or destroyed, upon the making of an affidavit of that fact by the person claiming the certificate of stock to be lost or destroyed. When authorizing such issuance of a new certificate or certificates, the Board of Directors may, in its discretion and as a condition precedent to the issuance thereof, require the owner of such lost or destroyed certificate or certificates, or his legal representative, to advertise the same in such manner as it shall require and to give the corporation a bond in such sum as it may direct as indemnity against any claim that may be made against the corporation with respect to the certificate alleged to have been lost or destroyed.

<u>Section 3.</u><u>Transfer of Stock. Transfers of share certificates and the shares represented thereby shall be made on the books of the Company only by the registered holder or by a duly authorized attorney. Transfers shall be made only upon surrender of the share certificate or certificates.</u>

<u>ARTICLE VII</u><u>.</u>

<u>GENERAL PROVISIONS</u>

Section 1.<u>Dividends</u>. Dividends upon the capital stock of the corporation may be declared by the Board of Directors out of funds legally available therefore at any regular or special meeting. Dividends may be paid in cash, in property, or in shares of the capital stock of the corporation.

Section 2.<u>Reserves</u>. Before payment of any dividend, there may be set aside out of any funds of the corporation available for dividends, such sum or sums as the Board of Directors from time to time, in its absolute discretion, thinks proper as a reserve or reserves to meet contingencies, or for equalizing dividends, or for repairing or maintaining any property of the corporation, or for such other purpose as the Directors shall think conducive to the interest of the

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corporation, and the Directors may modify or abolish any such reserve in the manner in which it was created.

Section 3.<u>Checks</u>. All checks or demands for money and notes of the corporation shall be signed by such officer or officers or such other person or persons as the Board of Directors may from time to time designate.

Section 4.<u>Fiscal Year</u>. The fiscal year of the corporation shall be fixed by resolution of the Board of Directors.

Section 5.<u>Seal</u>. The corporate seal, if there be one, shall have inscribed thereon the words, "State of Nevada."

Section 6.<u>Captions</u>. Captions used in these Bylaws are for convenience only and are not a part of these Bylaws and shall not be deemed to limit or alter any provisions hereof and shall not be deemed relevant in construing these Bylaws.

Section 7.<u>Interpretations</u>. To the extent permitted by the context in which used, words in the singular number shall include the plural, words in the masculine gender shall include the feminine and neuter, and vice versa. <u>If any provisions of these Bylaws shall be found to be inconsistent with any provisions of the Articles of Incorporation, as the same may be</u> <u>amended from time to time</u><u>, the Articles of Incorporation shall govern.</u>

<u>ARTICLE VIII</u><u>.</u>

 <u>AMENDMENTS</u>

Section 1.<u>Amendments</u>. These Bylaws may be amended or repealed at any regular meeting of the stockholders or of the Board of Directors, or at any special meeting of the stockholders or of the Board of Directors, if notice of such alteration or repeal be contained in the notice of such special meeting.

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