Document:

Exhibit 4(g)  

CN REAL ESTATE INVESTMENT CORPORATION II

ARTICLES OF AMENDMENT AND RESTATEMENT  

        CN REAL ESTATE INVESTMENT CORPORATION II, a Maryland corporation, hereby certifies to the State Department of Assessments and Taxation of Maryland that: 

        FIRST:    CN Real Estate Investment Corporation II desires to, and does hereby, amend and restate its charter (the "Charter") as
currently in effect. 

        SECOND:    The following provisions are all the provisions of the Charter currently in effect as amended and restated hereby: 

ARTICLE I

NAME  

        The name of the corporation (the "Corporation") is: 

CN
Real Estate Investment Corporation II 

ARTICLE II

PURPOSE  

        The purposes for which the Corporation is formed are to engage in any lawful act or activity (including, without limitation or obligation, engaging in business as
a real estate investment trust under the Internal Revenue Code of 1986, as amended, or any successor statute (the "Code")) for which corporations may be organized under the general laws of the State
of Maryland as now or hereafter in force. For purposes of these Articles, "REIT" means a real estate investment trust under Sections 856 through 860 of the Code. 

ARTICLE III

PRINCIPAL OFFICE IN STATE AND RESIDENT AGENT  

        The address of the principal office of the Corporation in the State of Maryland is The Corporation Trust Incorporated, 300 East Lombard Street, Baltimore,
Maryland 21202-3242. The name and address of the resident agent of the Corporation in the State of Maryland is The Corporation Trust Incorporated, 300 East Lombard Street, Baltimore,
Maryland 21202-3242. 

ARTICLE IV

PROVISIONS FOR DEFINING, LIMITING

AND REGULATING CERTAIN POWERS OF THE CORPORATION AND OF THE

STOCKHOLDERS AND DIRECTORS  

        Section 4.1    Number of Directors.    The business and affairs of the Corporation shall be managed under the
direction of the Board of Directors. The number of directors of the Corporation shall be fixed pursuant to the bylaws of the Corporation (the "Bylaws") but shall never be more than nine (9) nor
less than the minimum number required by the Maryland General Corporation Law (the "MGCL"). The directors may increase the number of directors and may fill any vacancy, whether
resulting from an increase in the number of directors or otherwise, on the Board of Directors occurring before the first annual meeting of stockholders in the manner provided in the Bylaws. 

        Section 4.2    Extraordinary Actions.    Except as otherwise specifically provided in Section 4.10 of
this Article IV and in Article VIII of the charter of the Corporation (the "Charter"), notwithstanding any provision of law requiring a greater proportion of the votes entitled to be
cast by the stockholders 

 

in
order to take or approve any action, such action shall be valid and effective if taken or approved by the affirmative vote of at least a majority of all votes entitled to be cast by the
stockholders on the matter. 

        Section 4.3    Authorization by Board of Stock Issuance.    The Board of Directors may authorize the issuance
from time to time of shares of stock of the Corporation of any class or series, whether now or hereafter authorized, or securities or rights convertible into shares of its stock of any class or
series, whether now or hereafter authorized, for such consideration as the Board of Directors may deem advisable (or without consideration in the case of a stock split or stock dividend or as
otherwise permitted by law), subject to such restrictions or limitations, if any, as may be set forth in the Charter or the Bylaws. 

        Section 4.4    Preemptive Rights.    Except as may be provided by the Board of Directors in setting the terms
of classified or reclassified shares of stock pursuant to Section 5.4 or as may otherwise be provided by contract, no holder of shares of stock of the Corporation shall, as such holder, have
any preemptive right to purchase or subscribe for any additional shares of stock of the Corporation or any other security of the Corporation which it may issue or sell. 

        Section 4.5    Indemnification.    The Corporation shall have the power, to the maximum extent permitted by
Maryland law in effect from time to time, to obligate itself to indemnify, and to pay or reimburse reasonable expenses in advance of final disposition of a proceeding to, (a) any individual who
is a present or former director or officer of the Corporation or (b) any individual who, while a director of the Corporation and at the request of the Corporation, serves or has served as a
director, officer, partner or trustee of another corporation, real estate investment trust, partnership, joint venture, trust, employee benefit plan or any other enterprise from and against any claim
or liability to which such person may become subject or which such person may incur by reason of his status as a present or former director or officer of the Corporation. The Corporation shall have
the power, with the approval of the Board of Directors, to provide such indemnification and advancement of expenses to a person who served a predecessor of the Corporation in any of the capacities
described in (a) or (b) above and to any employee or agent of the Corporation or a predecessor of the Corporation. 

        Section 4.6    Determinations by Board.    The determination as to any of the following matters, made in good
faith by or pursuant to the direction of the Board of Directors consistent with the Charter and in the absence of actual receipt of an improper benefit in money, property or services or active and
deliberate
dishonesty established by a court, shall be final and conclusive and shall be binding upon the Corporation and every holder of shares of its stock: the amount of the net income of the Corporation for
any period and the amount of assets at any time legally available for the payment of dividends, redemption of its stock or the payment of other distributions on its stock; the amount of
paid-in surplus, net assets, other surplus, annual or other net profit, net assets in excess of capital, undivided profits or excess of profits over losses on sales of assets; the amount,
purpose, time of creation, increase or decrease, alteration or cancellation of any reserves or charges and the propriety thereof (whether or not any obligation or liability for which such reserves or
charges shall have been created shall have been paid or discharged); the fair value, or any sale, bid or asked price to be applied in determining the fair value, of any asset owned or held by the
Corporation; any matter relating to the acquisition, holding and disposition of any assets by the Corporation; or any other matter relating to the business and affairs of the Corporation. 

        Section 4.7    REIT Qualification.    If the Corporation elects to qualify for federal income tax treatment as
a REIT, the Board of Directors shall use its reasonable best efforts to take such actions as are necessary or appropriate to preserve the status of the Corporation as a REIT; however, if the Board of
Directors determines that it is no longer in the best interests of the Corporation to continue to be qualified as a REIT, the Board of Directors may revoke or otherwise terminate the Corporation's
REIT election pursuant to Section 856(g) of the Code. 

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        Section 4.8    Business Combinations; Control Share Acquisitions.    Any business combination between the
Corporation and any Interested Stockholder or any Affiliate of an Interested Stockholder (both as defined in Section 3-601 of the MGCL), or any other person or entity, is hereby
exempted from the provisions of Section 3-602 of the MGCL. In addition, Subtitle 7 of Title 3 of the MGCL shall not apply to any acquisition of shares of stock of the Corporation by
any person. 

        Section 4.9    Rights of Objecting Stockholders.    No stockholder of the Corporation shall be entitled to
exercise the rights of an objecting stockholder under Subtitle 2 of Title 3 of the MGCL. 

        Section 4.10    Removal of Directors.    Subject to the rights of holders of shares of one or more classes or
series of Preferred Stock to elect one or more directors and to remove such directors so elected, a director may be removed from office, with or without cause, only by the affirmative vote of at least
two-thirds (2/3) of all votes entitled to be cast by the stockholders for the election of directors. 

ARTICLE V

STOCK  

        Section 5.1    Authorized Shares.    The Corporation has authority to issue 30,000,000 shares of stock,
consisting of 23,000,000 shares of common stock, $.01 par value per share ("Common Stock"), and 7,000,000 shares of preferred stock, $.01 par value per share ("Preferred Stock"). The aggregate par
value of all authorized shares of stock having par value is $300,000. If shares of one class of stock are classified or reclassified into shares of another class of stock pursuant to this
Article V, the number of authorized shares of the former class shall be automatically decreased and the number of shares of the latter class shall be automatically increased, in each case by
the number of shares so classified or reclassified, so that the aggregate number of shares of stock of all classes that the Corporation has authority to issue shall not be more than the total number
of shares of stock set forth in the first sentence of this paragraph. To the extent permitted by Maryland law, the Board of Directors, without any action by the stockholders of the Corporation, may
amend the Charter from time to time to increase or decrease the aggregate number of shares of stock or the number of shares of stock of any class or series that the Corporation has authority to issue. 

        Section 5.2    Common Stock.    Subject to the express terms of any other class or series of stock of the
Corporation then outstanding, each share of Common Stock shall entitle the holder thereof to one vote on each matter upon which stockholders are entitled to vote and to receive dividends and other
distributions as may be authorized and declared from time to time by the Board of Directors in accordance with and subject to provisions of the Charter of the Corporation and applicable law. 

        Section 5.3    Preferred Stock.    Of the 7,000,000 shares of Preferred Stock authorized, 300,000 shares are
classified and designated as shares of the Series A Non-Cumulative Preferred Stock ("Series A Preferred Stock") and 6,700,000 shares are unclassified. The preferences,
conversion or other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, terms and conditions of redemption and other terms and conditions of the
Series A Preferred Stock are set forth in Section 5.6 of this Article V. Any shares of Preferred Stock which are unclassified will be issued, from time to time, in one or more
classes or series with such designations, and with such preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications,
terms and conditions of redemption and other terms and conditions as may be set by the Board of Directors pursuant to Section 5.4 of this Article V. 

        Section 5.4    Classified or Reclassified Shares.    The Board of Directors may classify or reclassify any
unissued shares of stock by setting or changing the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications and terms
and conditions of redemption. Prior to issuance of classified or reclassified shares of any class or series, the Board of Directors by resolution shall: (a) designate that class or series to
distinguish it from all other 

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classes
and series of shares of the Corporation; (b) specify the number of shares to be included in the class or series; (c) set or change, subject to the express terms of any class or
series of shares of the Corporation outstanding at the time, the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends or other distributions,
qualifications and terms and conditions of redemption for each class or series; and (d) cause the Corporation to file articles supplementary with the State Department of Assessments and
Taxation of Maryland (the "SDAT"). Any of the terms of any class or series of shares set or changed pursuant to clause (c) of this Section 5.4 may be made dependent upon facts or events
ascertainable outside the Charter of the Corporation (including determinations by the Board of Directors or other facts or events within the control of the Corporation) and may vary among holders
thereof, provided that the manner in which such facts, events or variations shall operate upon the terms of such class or series of shares is clearly and expressly set forth in the articles
supplementary filed with the SDAT. 

        Section 5.5    Charter and Bylaws.    All persons who shall acquire stock in the Corporation shall acquire the
same subject to the provisions of the Charter and the Bylaws. 

        Section 5.6    Series A Preferred Stock Terms and Conditions.

        (a)   Dividends and Distributions.

          (i)  Subject
to the rights of the holders of any shares of any other class or series of Preferred Stock (or any similar stock) ranking prior and superior to, or on a par
with, the shares of Series A Preferred Stock with respect to dividends, the holder of record of each share or fraction of a share of Series A Preferred Stock, in preference to the
holders of any other class or series of stock of the Corporation (including shares of Common Stock), shall be entitled to receive, when, as and if declared by the Board of Directors out of funds
legally available to the extent such funds are available for the purpose, quarterly dividends payable in cash on or prior to the last day of January, April, July and October, as applicable, in each
year (each such date being referred to in this Section 5.6(a)(i) as a "Quarterly Dividend Payment Date"), commencing on the first Quarterly Dividend Payment Date after the first issuance of
such share or fraction of a share of Series A Preferred Stock, in an amount per share (rounded to the nearest cent) equal to $2.125 per share ($8.50 per annum); provided, however, that if such
share or fraction of a share is issued less than three months prior to a Quarterly Dividend Payment Date, the quarterly dividend which the holder of such share or fraction of a share shall be entitled
to receive on the first Quarterly Dividend Payment Date after the issuance of such share or fraction of a share shall be prorated based upon the number of days between the date of first issuance of
such share or fraction of a share and the first Quarterly Dividend Payment Date after such issuance as a percentage of the number of days between the first day of the second calendar month preceding
the month in which such Quarterly Dividend Payment Date occurs and such Quarterly Dividend Payment Date. 

         (ii)  The
Corporation shall declare a dividend or distribution on the Series A Preferred Stock as provided in paragraph (i) of this Section 5.6(a)
immediately before it declares any dividend or distribution on the Common Stock (other than a dividend payable in shares of Common Stock); provided, however, that dividends shall be
non-cumulative. Accordingly, if the Corporation fails to declare a dividend on the Series A Preferred Stock for a quarterly dividend period, then the holders of shares of
Series A Preferred Stock will have no right to receive a dividend on such shares for that quarter, and the Corporation will have no obligation to pay a dividend for that quarter, whether or not
dividends are declared and paid for any future quarter with respect to either the Series A Preferred Stock or the Common Stock of the Corporation. The Board of Directors may fix a record date
for the determination of holders of shares of Series A Preferred Stock entitled to receive payment of a dividend or distribution declared thereon, which record date shall be not more than
60 days prior to the date fixed for the payment thereof. 

        (b)   Voting Rights.

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          (i)  Subject
to any provisions for adjustment set forth in the Charter of the Corporation, each share of Series A Preferred Stock shall entitle the holder thereof to
one (1) vote on all matters submitted to a vote of stockholders of the Corporation. 

         (ii)  Except
as otherwise provided in the Charter of the Corporation, the holders of shares of Series A Preferred Stock and the holders of shares of Common Stock and
any other capital stock of the Corporation having general voting rights shall vote together as one class on all matters submitted to a vote of stockholders of the Corporation. 

        (iii)  Holders
of shares of Series A Preferred Stock shall have the right to vote on all matters submitted to a vote of the holders of shares of Common Stock and of
shares of any other class or series of stock which may be entitled to vote thereon, together with the holders of shares of Common Stock. 

        (c)   Certain Restrictions.

          (i)  Whenever
quarterly dividends or other dividends or distributions that have been declared on the Series A Preferred Stock remain outstanding and payable and until
such unpaid dividends and distributions shall have been paid in full, the Corporation shall not, directly or indirectly: 

        (A)  declare
or pay dividends on, or make any other distributions with respect to, any shares of stock ranking junior (either as to dividends or upon liquidation, dissolution
or winding up) to the Series A Preferred Stock; 

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

        (C)  redeem
or purchase or otherwise acquire for consideration shares of any stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to
the Series A Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire shares of any such junior stock in exchange for shares of any stock of the
Corporation ranking junior (either as to dividends or upon dissolution, liquidation or winding up) to the Series A Preferred Stock; or 

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

         (ii)  The
Corporation shall not permit any subsidiary of the Corporation to purchase or otherwise acquire for consideration, directly or indirectly, any shares of stock of
the Corporation unless the Corporation could, under paragraph (i) of this Section 5.6(c), purchase or otherwise acquire such shares at such time and in such manner. 

        (d)   Reacquired Shares.

        Any
shares of Series A Preferred Stock purchased or otherwise acquired by the Corporation in any manner whatsoever shall be retired and canceled promptly after the acquisition
thereof. All such shares shall upon their cancellation become authorized but unissued Preferred Stock and may be reissued as part of a new class or series of Preferred Stock subject to the conditions
and restrictions on issuance 

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set
forth in the Charter of the Corporation, in any articles supplementary creating a class or series of Preferred Stock or any similar stock or as otherwise required by law. 

        (e)   Liquidation, Dissolution or Winding Up.

          (i)  Upon
any liquidation, dissolution or winding up of the Corporation, no distribution shall be made to: (1) the holders of shares of stock ranking junior (either
as to dividends or upon liquidation, dissolution or winding up) to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have
received the sum of $100 per share (the "Liquidation Preference") plus any declared and unpaid dividends; or (2) the holders of shares of stock ranking on a parity (either as to dividends or
upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on the shares of Series A Preferred Stock and all such parity stock in
proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. After payment of the full amount of the Liquidation Preference
plus declared and unpaid dividends to which they are entitled, the holders of shares of Series A Preferred Stock will not be entitled to further participation in any distribution of assets of
the Corporation. 

         (ii)  Neither
the voluntary sale, conveyance, exchange or transfer (for cash, securities or other consideration) of all or substantially all of the property and assets of the
Corporation, nor the merger or consolidation of the Corporation with any one or more corporations or other entities, shall be deemed a voluntary or involuntary dissolution, liquidation or winding up
of the Corporation, unless such voluntary sale, conveyance or exchange shall be in connection with a plan of liquidation, dissolution or winding up of the Corporation. 

        (f)    Consolidation, Merger or Other.

        In
the event the Corporation shall enter into any consolidation, merger, combination or other transaction in which the shares of Common Stock are exchanged for or changed into other
stock or securities, cash and/or any other property, or otherwise changed, then in any such event each share of Series A Preferred Stock shall at the same time be similarly exchanged or changed
into an amount per share equal to $100. 

        (g)   Redemption.

          (i)  The
Series A Preferred Stock may be redeemed by the Corporation any time after September 30, 2005 upon 30 days written notice, for a redemption
price equal to $100 per share plus any declared and unpaid dividends. The notice of redemption for the Series A Preferred Stock shall set forth all the following: (1) the class or series
of shares or part of any class or series of shares to be redeemed; (2) the date fixed for redemption; (3) the redemption price; and (4) the place in which the stockholders may
obtain payment of the redemption price upon surrender of their share certificates. 

         (ii)  The
Corporation will have the right at any time to redeem the shares of Series A Preferred Stock at a redemption price equal to the Liquidation Preference plus
any declared and unpaid dividends thereon after one of the following two events have occurred: 

        (A)  The
receipt by the Corporation of advice from a nationally recognized law or accounting firm that, as a result of (i) any amendment to, clarification of or change
(including any announced prospective change) in the laws or treaties (or any regulation thereunder) of the United States or any political subdivision or taxing authority thereof or therein affecting
taxation, (ii) any judicial decision, official administrative pronouncement, ruling, regulatory procedure, notice or announcement (including any official administrative notice or announcement
of intent to adopt such procedures or regulations) ("Administrative Action") or (iii) any amendment to, clarification of or change in the official position or the interpretation of such
Administrative Action or judicial decision or any judicial interpretation or pronouncement that provides for a position with respect 

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to
such Administrative Action or judicial decision that differs from the theretofore generally accepted position, in each case, by any legislative body, court, governmental authority or regulatory
body, irrespective of the manner in which such amendment, clarification or change is made known, which amendment, clarification or change is effective or such pronouncement or decision is announced on
or after the date of issuance of the Series A Preferred Stock, there is more than an insubstantial risk that a dividend paid or to be paid by the Corporation with respect to the capital stock
of the Corporation is not, or will not be, fully deductible for United States federal income tax purposes (a "Tax Event"); or 

        (B)  The
receipt by City National Bank, a national banking association ("CNB") or City National Corporation, a Delaware corporation (the "Parent Company") of an opinion of
independent bank
regulatory counsel experienced in such matters to the effect that as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws (or any regulations
thereunder) of the United States or any rules, guidelines or policies of an applicable regulatory agency for CNB, the Parent Company or any of their respective affiliates, or (b) any official
administrative pronouncement or judicial decision interpreting or applying such laws or regulations, which amendment or change is effective or which pronouncement or decision is announced on or after
the date of original issuance of the shares of Series A Preferred Stock, the shares of Series A Preferred Stock do not constitute, or within 90 days of the date of such opinion
will not constitute, Tier 1 Capital (as defined in Section 2(a)(2) of Appendix A of 12 C.F.R. 3) (or its then equivalent) for purposes of any capital adequacy guidelines as
then in effect and applicable to CNB, the Parent Company or any of their respective affiliates. 

        In
the event that the Corporation proposes to redeem shares of Series A Preferred Stock after the occurrence of any event described in Section 5.6(g)(ii)(A) or (B), the
Corporation will provide written notice of such redemption, via first-class mail, to each holder of record of the shares of Series A Preferred Stock to be redeemed not less than thirty
(30) days nor more than sixty (60) days prior to the date for redemption of such shares. 

        (h)   Automatic Exchange.

        Each
share of Series A Preferred Stock will be exchanged automatically (the "Automatic Exchange") for one newly issued preferred share of CNB stock (each a "CNB Series C
Preferred Share") having preferences, rights, restrictions and limitations which are substantially the same as the preferences, rights, restrictions and limitations of the Series A Preferred
Stock if the Office of the Comptroller of the Currency (the "OCC") directs in writing (a "Directive") an exchange of Series A Preferred Stock for CNB Series C Preferred Shares due to the
occurrence of any of the following events (each an "Exchange Event"): (i) CNB becomes "undercapitalized" under the OCC's then current prompt corrective action regulations, (ii) CNB is
placed into bankruptcy, reorganization, conservatorship or receivership, or (iii) the OCC, in its exercise of supervisory authority over CNB, requires the Automatic Exchange of Series A
Preferred Stock. Upon receipt by the Corporation of a Directive, each holder of shares of Series A Preferred Stock shall be unconditionally obligated to surrender to CNB the certificates
representing such shares of Series A Preferred Stock of such holder in exchange for a certificate representing one CNB Series C Preferred Share for each share of Series A
Preferred Stock. Any shares of Series A Preferred Stock purchased or redeemed by the Corporation prior to the Time of Exchange (as defined below) shall not be deemed outstanding and shall not
be subject to the Automatic Exchange. 

        The
Automatic Exchange shall occur as of 9:00 a.m., Los Angeles local time, on the date for such exchange set forth in the Directive, or, if such date is not set forth in the
Directive, as of 9:00 a.m., Los Angeles local time, on the earliest possible date such exchange could occur consistent with the Directive (the "Time of Exchange"), as evidenced by the issuance
by CNB of a press release prior to such time. As of the Time of Exchange, all of the shares of Series A Preferred Stock required to be 

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exchanged
shall be deemed canceled without any further action by the Corporation, all rights of the holders of such shares of Series A Preferred Stock as stockholders of the Corporation shall
cease, and such persons shall thereupon and thereafter be deemed to be and shall be for all purposes the holders of CNB Series C Preferred Shares. The Corporation shall mail notice of the
occurrence of an Exchange Event to each holder of shares of Series A Preferred Stock within 30 days of such event, and CNB shall deliver to each such holder certificates for CNB
Series C Preferred Shares upon surrender of certificates for the shares of Series A Preferred Stock required to be exchanged. Until such replacement stock certificates are delivered (or
in the event such replacement certificates are not delivered, certificates previously representing the shares of Series A Preferred Stock shall be deemed for all purposes to represent
corresponding CNB Series C Preferred Shares. 

        (i)    Rank.

        The
Series A Preferred Stock shall rank, with respect to the payment of dividends and the distribution of assets, senior to the Common Stock and no less than  pari passu with all other classes or series
of Preferred Stock whether issued before or after the issuance of the Series A Preferred Stock.
 

        (j)    Restrictions on Transfer.

          (i)  The
shares of Series A Preferred Stock shall be subject to all of the provisions and restrictions on transfer as provided in Article VI and
Article VII of the Charter of the Corporation, and each certificate representing shares of Series A Preferred Stock shall contain the legend set forth in Section 6.11 and the
legend set forth in Section 7.2. 

         (ii)  Unless
the shares of Series A Preferred Stock have been registered under the Securities Act of 1933, as amended, and all applicable state securities laws, each
certificate representing shares of Series A Preferred Stock shall contain the following legend: 

        "THIS
SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS, AND NONE OF THIS SECURITY, THE SHARES OF
PREFERRED STOCK EVIDENCED HEREBY ("PREFERRED SHARES"), OR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH A REGISTRATION OR AN APPLICABLE
EXEMPTION THEREFROM. EACH PURCHASER OF THIS SECURITY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM REGISTRATION PROVIDED BY SECTION 4(2) OF THE SECURITIES ACT AND RULE
506 THEREUNDER. THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, REPRESENTS, ACKNOWLEDGES AND AGREES FOR THE BENEFIT OF THE CORPORATION THAT: (i) IT HAS ACQUIRED A "RESTRICTED" SECURITY
WHICH HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT; (ii) IT WILL NOT OFFER, SELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE CORPORATION, (B) PURSUANT TO A
REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) TO A PERSON WHO THE SELLER REASONABLY BELIEVES, AND WHO REPRESENTS ITSELF TO BE, AN "ACCREDITED INVESTOR"
(AS DEFINED IN RULE 501 UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 506, OR (D) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY APPLICABLE JURISDICTION; AND (iii) IT WILL, AND EACH SUBSEQUENT
HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THIS SECURITY OR ANY PREFERRED SHARES OF THE RESALE RESTRICTIONS SET FORTH IN (ii) ABOVE. ANY OFFER, SALE OR OTHER DISPOSITION PURSUANT TO
THE FOREGOING CLAUSE (ii)(D) IS SUBJECT TO THE 

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RIGHT
OF THE CORPORATION TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATIONS OR OTHER INFORMATION REASONABLY ACCEPTABLE TO IT IN FORM AND SUBSTANCE. 

        (k)   Amendment.

        The
Charter of the Corporation shall not be amended in any manner that would materially alter or change the powers, preferences or special rights of the Series A Preferred Stock
without the affirmative vote of the holders of at least a majority of the outstanding shares of Series A Preferred Stock, voting together as a single class, in addition to any vote of
stockholders otherwise required by law or under the Charter. 

ARTICLE VI

REIT RESTRICTIONS ON TRANSFER  

        Section 6.1    Definitions.    The following terms shall have the following meanings for purposes of this
Article VI and other articles of the Charter: 

        "Beneficial
Ownership" means ownership of shares of any class or series of Common Stock or Preferred Stock by a Person (as defined below) who would be treated as an owner of such shares
under Section 542(a)(2) of the Code either directly or constructively through the application of Section 544 of the Code as modified by Section 856(h)(i)(B) of the Code. The terms
"Beneficial Owner," "Beneficially Own" and "Own Beneficially" shall have correlative meanings. 

        "Beneficiary"
means, with respect to the Trust (as defined below), one or more organizations named by the Corporation as beneficiary or beneficiaries of the Trust in accordance with
Section 6.13(a) of this Article VI. Each such Beneficiary shall be an organization described in Section 501(c)(3) of the Code, that is not an "individual" within the meaning of
Section 541 of the Code, contributions to which must be eligible for deduction under each of Sections 170(b)(l)(A), 2055 and 2522 of the Code. 

        "Board
of Directors" means the Board of Directors of the Corporation. 

        "Excess
Shares" has the meaning set forth in Section 6.3 of this Article VI. 

        "Initial
Issuance Date" means the calendar day immediately following the initial issuance of shares of Series A Preferred Stock. 

        "Market
Price", with respect to any class or series of Common Stock or Preferred Stock, on any date means the Closing Price (as defined below) on the Trading Day (as defined below)
immediately preceding such date of such class or series of Common Stock or Preferred Stock. The "Closing Price", with respect to any class or series of Common Stock or Preferred Stock, on any date
shall mean the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or admitted to trading on the NYSE, as reported in the principal, consolidated transaction reporting system with respect to
securities listed on the principal national securities exchange on which such class or series of Common Stock or Preferred Stock is listed or admitted to trading or, if such class or series of Common
Stock or Preferred Stock is not listed or admitted to trading on any national securities exchange, the last quoted, price, or if not so quoted, the average of the high bid and low asked prices in the
over-the-counter market, as reported by the NASDAQ or, if such system is no longer in use, the principal other automated quotations system that may then be in use or, if such
class or series of Common Stock or Preferred Stock is not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a 

9

 

market
in such class or series of Common Stock or Preferred Stock selected by the Board of Directors of the Corporation or, if there is no professional market maker making a market in such class or
series of Common Stock or Preferred Stock, the liquidation value of a share of such class or series of Common Stock or Preferred Stock as determined by the Board of Directors in its reasonable
discretion. "Trading Day" means a day on which the principal national securities exchange on which the relevant class or series of Common Stock or Preferred Stock is listed or admitted to trading is
open for the transaction of business or, if the relevant class or series of Common Stock or Preferred Stock is not listed or admitted to trading on any national securities exchange, shall mean any day
other than a Saturday, a Sunday or a day on which banking institutions in the State of California are authorized or obligated by law or executive order to close. 

        "NASDAQ"
means the National Association of Securities Dealers, Inc. Automated Quotation System. 

        "Non-Transfer
Event" means any event other than a purported Transfer that would cause (i) any Person (as defined below) (other than CNB and its affiliates) to Own
Beneficially (as defined below) shares of Preferred Stock in excess of the Ownership Limit (as defined below), (ii) the Corporation to become "closely held" within the meaning of
Section 856(h) of the Code, and/or (iii) the Corporation to otherwise fail to qualify as a REIT (other than as a result of a violation of the "100-shareholder" requirement of
Section 856(a)(5) of the Code), in each case including, but not limited to, the granting of any option on entering into any agreement for the sale, transfer or other disposition of shares of
Common Stock or Preferred Stock or the sale, transfer, assignment or other disposition of any securities or rights convertible into or exchangeable for shares of Common Stock or Preferred Stock. 

        "NYSE"
means the New York Stock Exchange, Inc. 

        "Ownership
Limit" means, for any Person (as defined below), other than CNB and its affiliates, the Beneficial Ownership of nine and nine-tenths percent (9.9%), in number of
shares or value (determined on the basis of the Market Price), of the outstanding shares of any class or series of Preferred Stock of the Corporation. 

        "Permitted
Transferee" means any Person designated as a Permitted Transferee in accordance with the provisions of Section 6.13(e) of this Article VI. 

        "Person"
means (i) an individual, corporation, partnership, estate, trust (including a trust qualified under Section 401(a) or 501(c)(17) of the Code), a portion of a trust
permanently set aside for or to be used exclusively for the purposes described in Section 642(c) of the Code, association, private foundation within the meaning of Section 509(a) of the
Code, joint stock company, limited liability company or other entity and (ii) also includes a group as that term is used for purposes of Section 13(d)(3) of the Securities Exchange Act
of 1934, as amended. 

        "Prohibited
Owner" means, with respect to any purported Transfer or Non-Transfer Event, any Person whom, but for the provisions of Section 6.3 of this
Article VI, would Beneficially Own shares of Common Stock or Preferred Stock. 

        "Restriction
Termination Date" means the first day on which the Board of Directors determines that it is no longer in the best interests of the Corporation to attempt to, or continue to,
qualify as a REIT. 

        "Transfer"
means any sale, transfer, gift, assignment, devise or other disposition of any shares of Common Stock or Preferred Stock (including (i) the granting of any option
(including, but not limited to, an option to acquire an option or any series of such options) or entering into any agreement for the sale, transfer or other disposition of Common Stock or Preferred
Stock or 

10

 

(ii) the
sale, transfer, assignment or other disposition of any securities or rights convertible into or exchangeable for Common Stock or Preferred Stock or the exercise of such rights) whether
voluntary or involuntary, whether of record or beneficially, and whether by operation of law or otherwise (including, but not limited to, any transfer of an interest in other entities which results in
a change in the Beneficial Ownership of shares of Common Stock or Preferred Stock). The terms "Transfers" and "Transferred" shall have correlative meanings. 

        "Trust"
means the trust created pursuant to Section 6.13 of this Article VI. 

        "Trustee"
means any Person or entity unaffiliated with both the Corporation and any Prohibited Owner who is designated by the Corporation to act as trustee of the Trust, and any
successor trustee appointed by the Corporation. 

        Section 6.2    Restriction on Ownership and Transfers.

        (a)   Except
as provided in Section 6.10 of this Article VI, commencing on the Initial Issuance Date and prior to the Restriction Termination Date, no Person
(other than CNB and its affiliates) shall Beneficially Own shares of any class or series of Preferred Stock in excess of the Ownership Limit. 

        (b)   Except
as provided in Section 6.10 of this Article VI, and subject to the provisions of Section 6.14 of this Article VI, commencing on the
Initial Issuance Date and prior to the Restriction Termination Date, any Transfer or other event that, if effective, would result in any Person (other than CNB and its affiliates) Beneficially Owning
shares of any class or series of Preferred Stock in excess of the Ownership Limit shall be void ab initio as to the Transfer of such shares of Preferred
Stock which would be otherwise Beneficially Owned by such Person in excess of the Ownership Limit, and the intended transferee shall acquire no right or interest in such shares of Preferred Stock. 

        (c)   Subject
to the provisions of Section 6.14 of this Article VI, commencing on the Initial Issuance Date and prior to the Restriction Termination Date, any
Transfer that, if effective, would result in the outstanding shares of Common Stock and Preferred Stock being Beneficially Owned by less than 100 Persons (determined without reference to any rules of
attribution) shall be void ab initio, and the intended transferee shall acquire no right or interest in such shares of Common Stock or Preferred Stock. 

        (d)   Notwithstanding
any other provision herein, subject to the provisions of Section 6.14 of this Article VI, commencing on the Initial Issuance Date and prior
to the Restriction Termination Date, any Transfer that, if effective, would result in the Corporation being "closely held" within the meaning of Section 856(h) of the Code shall be void ab
initio as to the Transfer of that number of shares of Common Stock or Preferred Stock, as the case may be, that would cause the Corporation to be "closely held" within the meaning of
Section 856(h) of the Code, and the intended transferee shall acquire no right or interest in such shares of Common Stock or Preferred Stock, as the case may be. 

11

 

  
        (e)   Notwithstanding any other provision herein, subject to the provisions of Section 6.14 of this Article VI, commencing on the Initial Issuance Date and prior
to the Restriction Termination Date, any Transfer that, if effective, would cause the Corporation to fail to qualify as a REIT under the Code for any reason shall be void ab
initio as to the Transfer of that number of shares of Common Stock or Preferred Stock, as the case may be, in excess of the number that could have been Transferred without such
result; and the intended transferee shall acquire no right or interest in such shares of Common Stock or Preferred Stock, as the case may be. 

        (f)    A
Transfer of a share of Common Stock or Preferred Stock which is null and void under paragraphs (b), (c), (d) or (e) of this Section 6.2 of
this Article VI shall not adversely affect the validity of the Transfer of any other share of Common Stock or Preferred Stock in the same or any other related transaction. 

        Section 6.3    Transfer in Trust.

        (a)   If,
notwithstanding the other provisions contained in this Article VI, at any time on or after the Initial Issuance Date and prior to the Restriction Termination
Date, there is a purported Transfer or Non-Transfer Event such that any Person (other than CNB and its affiliates) would Own Beneficially shares of any class or series of Preferred Stock
in excess of the Ownership Limit, then (i) except as otherwise provided in Section 6.10 of this Article VI, the Prohibited Owner shall acquire no right, or interest (or in the
case of a Non-Transfer Event, shall cease to own any right or interest) in such number of shares of such class or series of Preferred Stock that would cause such Beneficial Owner to
Beneficially Own shares of such class or series of Preferred Stock in excess of the Ownership Limit and (ii) such number of shares of such class or series of Preferred Stock in excess of the
Ownership Limit (rounded up to the nearest whole share) shall be designated as excess shares ("Excess Shares") and, in accordance with Section 6.13 of this Article VI, be transferred
automatically and by operation of law to the Trust for the benefit of the Beneficiary. Such transfer to the Trust and the designation of the shares as Excess Shares shall be effective as of the close
of business on the business day prior to the date of the purported Transfer or Non-Transfer Event, as the case may be. 

        (b)   If,
notwithstanding the other provisions contained in this Article VI, at any time on or after the Initial Issuance Date and prior to the Restriction Termination
Date, there is a purported Transfer or Non-Transfer Event that, if effective, would cause the Corporation to become "closely held" within the meaning of Section 856(h) of the Code
or to otherwise fail to qualify as a REIT (other than as a result of a violation of the 100-shareholder requirement of Section 856(a)(5)), then (i) except as otherwise
provided in Section 6.10 of this Article VI, the Prohibited Owner shall acquire no right or interest (or, in the case of a Non-Transfer Event, shall cease to own any right or
interest) in such number of shares of Common Stock or Preferred Stock, the ownership of which by such purported transferee or record holder would cause the Corporation to be "closely held" within the
meaning of Section 856(h) of the Code or to otherwise fail to qualify as a REIT (other than as a result of a violation of the 100-shareholder requirement of
Section 856(a)(5)) and (ii) such number of shares of Common Stock or Preferred Stock (rounded up to the nearest whole share) shall be designated as Excess Shares and, in accordance with
the provisions of Section 6.13 of this Article VI, be transferred automatically and by operation of law to the Trust for the benefit of the Beneficiary. Such transfer to the Trust and
the designation of shares as Excess Shares shall be effective as of the close of business on the business day prior to the date of the Transfer or Non-Transfer Event, as the case may be. 

        Section 6.4    Remedies for Breach.    If the Board of Directors or a committee thereof shall at any time
determine in good faith that a Non-Transfer Event has occurred, a Transfer has taken place in violation of Section 6.2 of this Article VI or that a Person intends to acquire
or has attempted to acquire or may acquire Beneficial Ownership of any shares of Common Stock or Preferred Stock in violation of Section 6.2 of this Article VI (whether or not such
violation is intended), the Board of Directors shall be empowered to take any action it deems advisable to refuse to give effect to or to 

12

 

prevent
such Transfer or Non-Transfer Event, including but not limited to, refusing to give effect to such Transfer or Non-Transfer Event on the books of the Corporation or
instituting proceedings to enjoin or rescind such Transfer or acquisition. 

        Section 6.5    Notice of Restricted Transfer.    Any Person who acquires or attempts to acquire shares of
Common Stock or Preferred Stock in violation of Section 6.2 of this Article VI, or any Person who owned shares of Common Stock or Preferred Stock that were transferred to a Trust
pursuant to the provisions of Section 6.3 of this Article VI, shall immediately give written notice to the Corporation of such event and shall provide to the Corporation such other
information as the Corporation may request in order to determine the effect, if any, of such Transfer or Non-Transfer Event, as the case may be, on the Corporation's status as a REIT.
Failure to give such notice shall not in any way limit the rights and remedies of the Board of Directors provided herein. 

        Section 6.6    Reserved.

        Section 6.7    Owners Required to Provide Information.    Prior to the Restriction Termination Date: 

        (a)   Every
Beneficial Owner of more than one-half of one percent (0.5%) (or such lower percentage as required in the applicable regulations adopted under the
Code) of shares of any class or series of Preferred Stock of the Corporation outstanding shall, within thirty (30) days after December 31 of each year, give written notice to the
Corporation stating the name and address of such Beneficial Owner, the number of shares of such class or series of Preferred Stock Beneficially Owned by such Beneficial Owner, a full description of
how such shares are held and a statement identifying the actual or constructive owners of such shares. Each such Beneficial Owner shall, upon demand by the Corporation, disclose to the Corporation in
writing such additional information with respect to its Beneficial Ownership of shares of such class or series of Preferred Stock as the Corporation, in its sole discretion, deems appropriate or
necessary, (i) to comply with the provisions of the Code regarding the qualification of the Corporation as a REIT and (ii) to ensure compliance with the Ownership Limit. 

        (b)   At
the request of the Corporation, any Person who is a Beneficial Owner of shares of Common Stock or Preferred Stock and any Person (including the stockholder of record)
who is holding shares of Common Stock or Preferred Stock for a Beneficial Owner, and any proposed transferee of shares, shall provide (i) such information as the Corporation, in its sole
discretion, may request from time to time in order (A) to determine the Corporation's status as a REIT, (B) to ensure compliance with the requirements of any taxing authority or other
governmental agency or (C) to ensure compliance with the Ownership Limit and (ii) a statement or affidavit to the Corporation setting forth the number of shares of each class or series
of Common Stock or Preferred Stock Beneficially Owned by such stockholder or proposed transferee and any related Persons specified, which statement or affidavit shall be in the form prescribed by the
Corporation for that purpose. 

        (c)   In
addition, every individual who Beneficially Owns shares of any class or series of Preferred Stock of the Corporation shall, upon demand by the Corporation, disclose
to the Corporation in writing information for the purpose of determining whether the Corporation is a "pension-held REIT" within the meaning of Section 865(h)(3)(D) of the Code. In
this context, "individual" is defined as any natural person and any entity that is included in the definition of "individual" in Section 542(a)(c) of the Code, but does not include a pension
trust described in Section 401(a) of the Code that qualifies for "look through treatment" under Section 856(h)(3)(A)(i) of the Code. 

        Section 6.8    Remedies Not Limited.    Nothing contained in this Article VI shall limit the authority
of the Board of Directors to take such other action as it deems necessary or advisable (subject to the provisions of Section 6.14 of this Article VI) to protect the Corporation and the
interests of its 

13

 

stockholders
in the preservation of the Corporation's status as a REIT, and to insure compliance with the Ownership Limit. 

        Section 6.9    Ambiguity.    In the case of an ambiguity in the application of any of the provisions of this
Article VI, including any definition contained in Section 6.1 of this Article VI, the Board of Directors shall have the power to determine the application of such provisions with
respect to any situation based on its reasonable belief, understanding or knowledge of the circumstances. 

        Section 6.10    Exceptions.

        (a)   The
Board of Directors, upon receipt of a ruling from the Internal Revenue Service or an opinion of tax counsel or other evidence satisfactory to it, may waive the
application of the Ownership Limit, in whole or in part, to any Person, if such Person is not an individual for purpose of Section 542(a) of the Code and is a corporation, partnership, estate
or trust; provided, however, in no event may the Board of Directors grant any such exception if it would, in the Board of Director's judgment, jeopardize the Corporation's status as a REIT. In
connection with any such exemption, the Board of Directors may require such representations and undertakings from such Person and may impose such other conditions as the Board of Directors deems
necessary in its sole discretion to determine the effect, if any, of the proposed Transfer on the Corporation's status as a REIT. 

        (b)   For
a period of 90 days following the acquisition of shares of Preferred Stock by an underwriter that (i) is a corporation or a partnership and
(ii) participates in an offering of the Preferred Stock, such underwriter shall not be subject to the Ownership Limit with respect to the shares of Preferred Stock purchased by it as a part of
such offering. 

        (c)   Anything
in this Article VI or elsewhere in the Charter to the contrary notwithstanding, CNB, any directly or indirectly owned subsidiary of CNB or the Parent
Corporation, and any other affiliate of CNB, and with respect to any of the foregoing, any of their respective successors, shall be exempt from the Ownership Limit and may Beneficially Own shares of
any class or series of Preferred Stock in excess of the Ownership Limit. 

        Section 6.11    Legend.    Each certificate for shares of Common Stock or Preferred Stock shall bear the
following legend (in addition to the legends required by other provisions of the Charter of the Corporation): 

        THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE CORPORATION'S MAINTENANCE OF ITS STATUS AS A REAL
ESTATE INVESTMENT (A "REIT") UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"). SUBJECT TO CERTAIN OTHER RESTRICTIONS, AND EXCEPT AS EXPRESSLY PROVIDED IN THE CHARTER OF THE
CORPORATION: (1) NO PERSON (OTHER THAN CITY NATIONAL BANK AND ITS AFFILIATES) MAY BENEFICIALLY OWN SHARES OF PREFERRED STOCK OF ANY CLASS OR SERIES OF THE CORPORATION IN EXCESS OF 9.9%
(BY VALUE OR BY NUMBER OF OUTSTANDING SHARES OF SUCH CLASS OR SERIES OF PREFERRED STOCK) OF THE OUTSTANDING SHARES OF SUCH CLASS OR SERIES OF PREFERRED STOCK; (2) NO PERSON MAY BENEFICIALLY OWN
SHARES OF STOCK IN THE CORPORATION THAT WOULD RESULT IN THE CORPORATION BEING "CLOSELY HELD" UNDER SECTION 856(H) OF THE CODE OR OTHERWISE CAUSE THE CORPORATION TO FAIL TO QUALIFY AS A REIT;
AND (3) NO PERSON MAY TRANSFER SHARES OF STOCK OF THE CORPORATION IF SUCH TRANSFER WOULD RESULT IN THE SHARES OF STOCK OF THE CORPORATION BEING OWNED BY FEWER THAN 100 PERSONS (DETERMINED
WITHOUT REFERENCE TO ANY RULES OF ATTRIBUTION). ANY PERSON WHO BENEFICIALLY OWNS OR ATTEMPTS TO BENEFICIALLY OWN SHARES 

14

 

OF
STOCK OF THE CORPORATION WHICH CAUSES OR WILL CAUSE A PERSON TO BENEFICIALLY OWN SHARES OF STOCK OF THE CORPORATION IN VIOLATION OF THE ABOVE LIMITATIONS MUST IMMEDIATELY NOTIFY THE CORPORATION. IF
ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP ARE VIOLATED, SOME OR ALL OF THE SHARES OF STOCK OF THE CORPORATION REPRESENTED HEREBY WILL BE TRANSFERRED AUTOMATICALLY AND BY OPERATION OF LAW TO A
TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES. FURTHERMORE, UPON THE OCCURRENCE OF CERTAIN EVENTS, ATTEMPTED TRANSFERS (OR CHANGES IN RECORD OWNERSHIP OF SHARES OF STOCK IN THE
CORPORATION IN THE CASE OF A NON-TRANSFER EVENT) IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO. ALL TERMS USED IN THIS LEGEND WHICH ARE DEFINED IN THE CHARTER OF
THE CORPORATION SHALL HAVE THE MEANINGS SET FORTH IN THE CHARTER OF THE CORPORATION, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND OWNERSHIP SET FORTH ABOVE, WILL BE FURNISHED TO EACH
HOLDER OF SHARES OF STOCK OF THE CORPORATION UPON REQUEST AND WITHOUT CHARGE. REQUESTS FOR A COPY OF THE CHARTER OF THE CORPORATION MUST BE DIRECTED TO THE SECRETARY OF THE CORPORATION. 

        Section 6.12    Severability.    If any provision of this Article VI or any application of any such
provision is determined to be void, invalid or unenforceable by any federal or state court having jurisdiction over the issues, the validity and enforceability of the remaining provisions of the
Charter of the Corporation (including without limitation this Article VI) shall not be affected and other applications of such provision shall be affected only to the extent necessary to comply
with the determination of such court. 

        Section 6.13    Excess Shares.

        (a)   Ownership in Trust.    Upon any purported Transfer, Non-Transfer Event or purported change in
Beneficial Ownership that results in shares of Preferred Stock being designated Excess Shares pursuant to Section 6.3 of this Article VI, such Excess Shares shall be transferred to a
Trust for the exclusive benefit of the Beneficiary. The Corporation shall name a Beneficiary that is an organization described in Section 501(c)(3) of the Code that is not an "individual"
within the meaning of Section 542 of the Code, if one does not already exist, within five (5) days after the discovery of any Transfer to the Trust. Excess Shares shall remain issued and
outstanding shares of stock of the Corporation and shall be entitled to the same rights and privileges on identical terms and conditions as all other issued and outstanding shares of the same class
and series of stock. When transferred to a Permitted Transferee in accordance with the provisions of Section 6.13(e) of this Article VI, such Excess Shares shall cease to be designated
as Excess Shares. 

        (b)   Dividend Rights.    The Trustee, as record holder of the Excess Shares, shall be entitled to receive all
dividends and distributions as may be declared by the Board of Directors of the Corporation on such shares of Common Stock or Preferred Stock designated Excess Shares and shall hold such dividends or
distributions in trust for the benefit of the Beneficiary. The Prohibited Owner with respect to Excess Shares shall repay to the Trustee the amount of any dividends or distributions received by it
that (i) are attributable to any shares of Common Stock or Preferred Stock designated Excess Shares and (ii) the record date of which is on or after the date that such shares became
Excess Shares. The Corporation shall take all measures that it determines reasonably necessary to recover the amount of any such dividend or distribution paid to a Prohibited Owner, including, if
necessary, withholding any portion of future dividends or distributions payable on shares of Common Stock or Preferred Stock Beneficially Owned by the Person who, but for the provisions of
Section 6.3 of this Article VI, would Beneficially Own the Excess Shares, and as soon as reasonably practicable following the Corporation's 

15

 

receipt
or withholding thereof, shall pay over to the Trustee for the benefit of the Beneficiary the dividends so received or withheld, as the case may be. 

        (c)   Rights Upon Liquidation.    Subject to the preferential rights of any class or series of Preferred Stock, if
any, as may be determined by the Board of Directors pursuant to Section 5.4 or 5.6 of the Charter of the Corporation, in the event of any voluntary or involuntary liquidation, dissolution or
winding up of, or any distribution of the assets of, the Corporation, the Trustee of Excess Shares shall be entitled to receive, ratably with each other holder of shares of Common Stock or Preferred
Stock of the same class or series, that portion of the assets of the Corporation available for distribution to the holders of such class and series of Common Stock or Preferred Stock. The Trustee
shall distribute to the Prohibited Owners the amounts received upon such liquidation, dissolution, or winding up, or distribution; provided, however, that no Prohibited Owner who paid for shares of
Common Stock or Preferred Stock in any purported Transfer that resulted in the Excess Shares, or in the case of a Non-Transfer Event or a Transfer in which the Prohibited Owners did not
give value for such shares (e.g., through a gift or devise), shall receive a distribution greater than a price per share equal to the Market Price on the date of any purported Transfer or
Non-Transfer Event that resulted in the Excess Shares. Any remaining amount in the Trust shall be distributed ratably to the Beneficiary of the Trust. 

        (d)   Voting Rights.    The Trustee shall be entitled to vote all Excess Shares. Any vote by a Prohibited Owner as a
holder of shares of Common Stock or Preferred Stock subsequent to the discovery of the Corporation that such shares of Common Stock or Preferred Stock are Excess Shares shall, subject to applicable
law and only to the extent that no Person other than the applicable Prohibited Owner is materially and adversely affected, be rescinded and shall be void ab
initio with respect to such Excess Shares and the applicable Prohibited Owner shall be deemed to have given, as of the close of business on the business day prior to the date
of the purported Transfer or Non-Transfer Event that results in the transfer to the Trust of the shares of Common Stock or Preferred Stock under Section 6.3(a) of this
Article VI, an irrevocable proxy to the Trustee to vote the Excess Shares in the manner in which the Trustee, in its sole and absolute discretion, desires. 

        (e)   Designation of Permitted Transferee.    The Trustee shall have the exclusive and absolute right to designate
one or more Permitted Transferees of any and all Excess Shares. As soon as reasonably practicable, in an orderly fashion so as not to materially adversely affect the Market Price of the Excess Shares,
the Trustee shall designate any person as a Permitted Transferee; provided, however, that (i) any Permitted Transferee so designated purchases for valuable consideration (whether in a public or
private sale) the Excess Shares and (ii) the acquisition of such Excess Shares by any Permitted Transferee so designated will not result in a transfer to a Trust and the redesignation of such
shares of Common Stock or Preferred Stock so acquired as Excess Shares under Section 6.3 of this Article VI. Upon the designation by the Trustee of a Permitted Transferee in accordance
with the provisions of this paragraph, the Trustee of the Trust shall (i) cause to be transferred to the Permitted Transferee that number of Excess Shares acquired by the Permitted Transferee,
(ii) cause the Permitted Transferee to be recorded as the holder of record of such number of shares of Common Stock or Preferred Stock on the books of the Corporation; and
(iii) distribute to the Beneficiary any and all amounts held with respect to the Excess Shares after making payment to the applicable Prohibited Owner pursuant to Section 6.13(f) of this
Article VI. 

        (f)    Compensation to Record Holder of Shares that Become Excess Shares.    Any Prohibited Owner shall be entitled
(following discovery of the Excess Shares and the subsequent designation of a Permitted Transferee in accordance with Section 6.13(e) of this Article VI to receive from the Trustee the
lesser of (i) in the case of (a) a purported Transfer in which the Prohibited Owner gave value for shares of Common Stock or Preferred Stock and which Transfer resulted in the transfer
of the shares to the Trust, the price per share, if any, such Prohibited Owner paid for such shares, or in the case of (b) a Non-Transfer Event or Transfer in which the Prohibited
Owner did not give value for such shares (e.g., if the shares were received through a gift or devise) and which Non-Transfer Event or Transfer, as 

16

 

the
case may be, resulted in the transfer of shares to the Trust, the price per share equal to the Market Price on the date of such Non-Transfer Event or Transfer, and (ii) the
price per share received by the Trustee of the Trust from the sale or other disposition of such Excess Shares in accordance with Section 6.13(e) of this Article VI. Any amounts received
by the Trustee in respect of the Excess Shares in excess of the amounts to be paid to the applicable Prohibited Owner pursuant to this Section 6.13(f) of this Article VI shall be
distributed to the Beneficiary in accordance with the provisions of Section 6.13(e) of this Article VI. Each Beneficiary and Prohibited Owner waives any and all claims that they may have
against the Trustee and the Corporation arising out of the disposition of Excess Shares, except for claims arising out of the gross negligence or willful misconduct of, or any failure to make payments
in accordance with this Section 6.13 of this Article VI by, such Trustee or the Corporation. 

        (g)   Purchase Right in Excess Shares.    Excess Shares shall be deemed to have been offered for sale to the
Corporation, or its designee, at a price per share equal to the lesser of (i) the price per share in the transaction that created such Excess Shares (or, in the case of a devise or gift, the
Market Price on the date of such devise or gift) and (ii) the Market Price on the date the Corporation, or its designee, accepts such offer. The Corporation shall have the right to accept such
offer for a period of ninety days after the later of (i) the date of the Transfer which resulted in such Excess Shares and (ii) the date the Board of Directors determines in good faith
that a Transfer resulting in Excess Shares has occurred. 

        Section 6.14    Settlement.    Notwithstanding any provision contained herein to the contrary, nothing in the
Charter of the Corporation shall preclude the settlement of any transaction with respect to any class or series of Common Stock or Preferred Stock entered into through facilities of the NYSE or the
NASDAQ. 

ARTICLE VII

OTHER RESTRICTIONS ON TRANSFER  

        Section 7.1    No
class or series of Preferred Stock of the Corporation may be owned (either directly or indirectly) by 500 or more persons (as such term is defined in
the Securities Exchange Act of 1934, as amended). If any purported Transfer (as defined in Article VI) or other event would result in any class or series of Preferred Stock being owned (either
directly or indirectly) by 500 or more persons, then the purported Transfer or other event shall be null and void ab initio, and the intended Transferee
shall acquire no right or interest in such shares of Preferred Stock. 

        Section 7.2    Each
certificate representing shares of Preferred Stock shall bear the following legend (in addition to the legends required by other provisions of the
Charter of the Corporation or applicable law): 

"NO
PERSON MAY TRANSFER THIS SECURITY OR ANY SHARES OF PREFERRED STOCK OF ANY CLASS OR SERIES IF SUCH TRANSFER WOULD RESULT IN THE NUMBER OF HOLDERS OF SHARES OF PREFERRED STOCK OF SUCH CLASS OR
SERIES EQUALING OR EXCEEDING 500 PERSONS (AS DEFINED IN THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED). ANY ATTEMPTED TRANSFER IN VIOLATION OF SUCH RESTRICTIONS SHALL BE VOID AND OF NO
FURTHER EFFECT AND SHALL BE SUBJECT TO THE FURTHER PROVISIONS OF THE CORPORATION'S CHARTER. THESE RESTRICTIONS ARE SET FORTH IN FULL DETAIL IN THE CORPORATION'S CHARTER, A COPY OF WHICH WILL BE SENT
WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS." 

        Section 7.3    The
provisions of Article VII of the Charter shall cease to apply to any class or series of Preferred Stock of the Corporation which has been
registered under the Securities Exchange Act of 1934, as amended. 

17

 
ARTICLE VIII

AMENDMENTS  

        The Corporation reserves the right from time to time to make any amendment to its Charter, now or hereafter authorized by law, including any amendment altering
the terms or contract rights, as expressly set forth in the Charter, of any shares of outstanding stock. All rights and powers conferred by the Charter of the Corporation on stockholders, directors
and officers are granted subject to this reservation. Except as otherwise provided in the Charter of the Corporation, any amendment to the Charter shall be valid only if approved by the affirmative
vote of two-thirds of all the votes entitled to be cast on the matter by the stockholder of the Corporation. 

ARTICLE IX

LIMITATION OF LIABILITY  

        To the maximum extent that Maryland law in effect from time to time permits limitation of the liability of directors and officers of a corporation, no director or
officer of the Corporation shall be liable to the Corporation or its stockholders for money damages. Neither the amendment nor repeal of this Article IX, nor the adoption or amendment of any
other provision of the Charter or Bylaws inconsistent with this Article IX, shall apply to or affect in any respect the applicability of the preceding sentence with respect to any act or
failure to act which occurred prior to such amendment, repeal or adoption. 

        THIRD:    The amendment to and restatement of the Charter as hereinabove set forth have been duly advised by the Board of
Directors and approved by the stockholders of the Corporation as required by law. 

        FOURTH:    The foregoing amendment and restatement of the Charter does not increase the authorized stock of the Corporation. 

        FIFTH:    The current address of the principal office of the Corporation is as set forth in Article III of the foregoing
amendment and restatement of the Charter. 

        SIXTH:    The name and address of the Corporation's current resident agent is as set forth in Article III of the
foregoing amendment and restatement of the Charter. 

        SEVENTH:    There are currently four directors of the Corporation, and the names of those directors currently in office are as
follows: Marshall Ezralow, Frank Pekny, Sandy Singer and Heng Chen. 

        EIGHTH:    The undersigned President acknowledges these Articles of Amendment and Restatement to be the corporate act of the
Corporation and as to all matters or facts required to be verified under oath, the undersigned President acknowledges that to the best of his knowledge, information and belief, these matters and facts
are true in all material respects and that this statement is made under the penalties for perjury. 

18

 

        IN
WITNESS WHEREOF, the Corporation has caused these Articles of Amendment and Restatement to be signed in its name and on its behalf by its President and attested to by its Assistant
Secretary on this 5th day of Sept, 2002. 

	ATTEST:	 	CN REAL ESTATE INVESTMENT CORPORATION II
	    	 	 	 	 
	/s/ [ILLEGIBLE]
 Assistant Secretary	 	By:	 	/s/ FRANK P. PEKNY
 President

19EXHIBIT 4(h)  

CN REAL ESTATE INVESTMENT CORPORATION II

A Maryland Corporation

AMENDED AND RESTATED

BYLAWS  

August 16, 2002  

 
AMENDED AND RESTATED BYLAWS

OF

CN REAL ESTATE INVESTMENT CORPORATION II

(A MARYLAND CORPORATION)

ARTICLE I

NAME OF CORPORATION, LOCATION OF

OFFICES AND SEAL  

        Section 1.    Name.    The name of the Corporation is CN Real Estate Investment
Corporation II. 

        Section 2.    Principal Offices.    The principal office of the Corporation is in the City of Baltimore. The
Corporation may, in addition, establish and maintain such other offices and places of business as the Board of Directors may, from time to time, determine. 

        Section 3.    Seal.    The corporate seal of the Corporation shall be circular in form and shall bear the
name of the Corporation, the year of its incorporation, and the word "Maryland." The form of the seal shall be subject to alteration by the Board of Directors and the seal may be used by causing it or
a facsimile to be impressed or affixed or printed or otherwise reproduced. Any officer or director of the Corporation shall have authority to affix the corporate seal of the Corporation to any
document requiring the same. 

ARTICLE II

STOCKHOLDERS  

        Section 1.    Annual Meetings.    The annual meeting of stockholders shall be held
on a date and at a time set by the Board of Directors during the month of March, at which the stockholders shall elect a Board of Directors and transact such other business as may be required by law
or these Bylaws ("Bylaws") or as may properly come before the meeting. All meetings of stockholders shall be held at the principal executive office of the Corporation or at such other place as shall
be set by the Board of Directors and stated in the notice of meeting. 

        Section 2.    Special Meetings.    Special meetings of stockholders may be called at any time by the
Chairman of the Board, or President, or by a majority of the Board of Directors, and shall be held at such time and place as may be stated in the notice of the meeting. 

        Special
meetings of the stockholders may be called by the Secretary upon the written request of the holders of shares entitled to vote not less than a majority of all the votes entitled
to be cast at such meeting, provided that (1) such request shall state the purposes of such meeting and the matters
proposed to be acted on, and (2) the stockholders requesting such meeting shall have paid to the Corporation the reasonably estimated cost of preparing and mailing the notice thereof, which the
Secretary shall determine and specify to such stockholders. No special meeting shall be called upon the request of stockholders to consider any matter which is substantially the same as a matter voted
upon at any special meeting of the stockholders held during the preceding twelve months, unless requested by the holders of a majority of all shares entitled to be cast at such meeting. 

        Section 3.    Notice of Meetings.    The Secretary shall cause notice of the place, date and hour, and, in
the case of a special meeting or as otherwise may be required by statute, the purpose or purposes for which the meeting is called, to be mailed, postage prepaid, not less than ten nor more than ninety
days before the date of the meeting, to each stockholder entitled to vote at such meeting and to each stockholder not entitled to vote who is entitled to notice of the meeting at his or her address as
it appears on the records of the Corporation at the time of such mailing. Notice shall be deemed to be given when deposited in the United States mail addressed to the stockholders as aforesaid, with
postage thereon prepaid. Notice of any stockholders' meeting need not be given to any 

2

 

stockholder
who shall sign a written waiver of such notice whether before or after the time of such meeting which is filed with the records of stockholders' meetings, or to any stockholder who is
present at such meeting in person or by proxy. Notice of adjournment of a stockholders' meeting to another date and time need not be given if such date and time are announced at the meeting; provided,
however, that the date and time for such adjourned meeting is not more than 120 days after the original record date. Irregularities in the notice of any meeting to, or the nonreceipt of any
such notice by, any of the stockholders shall not invalidate any action otherwise properly taken by or at any such meeting. 

        Section 4.    Quorum and Adjournment of Meetings.    The presence at any stockholders' meeting, in person,
by telephone conference, or by proxy, of stockholders entitled to cast a majority of all the votes entitled to be cast at the meeting shall be necessary and sufficient to constitute a quorum for the
transaction of business. In the absence of a quorum, the holders of shares entitled to vote at the meeting and present in person or by proxy, or, if no stockholder entitled to vote is present in
person or by proxy, any officer present entitled to preside or act as secretary of such meeting may adjourn the meeting from time to time without further notice to a date not more than 120 days
after the original record date. Any business that might have been transacted at the meeting originally called may be transacted at any such adjourned meeting at which a quorum is present. 

        Section 5.    Voting.    Except as otherwise provided in the charter of the Corporation (the "Charter") or
by applicable law, at each stockholders' meeting each stockholder shall be entitled to one vote for each share of stock of the Corporation validly issued and outstanding and registered in the name of
such stockholder on the books of the Corporation on the record date fixed in accordance with Section 5 of Article VI hereof, either in person or by proxy appointed by instrument in
writing subscribed by such stockholder or such stockholder's duly authorized attorney or by any other manner permitted by applicable law, except that no shares held by the Corporation shall be
entitled to a vote. 

        Except
as otherwise provided in the Charter, these Bylaws, or as required under Maryland law, all matters shall be decided by a vote of the majority of the votes validly cast. The vote
upon any question shall be by ballot whenever requested by any person entitled to vote, but, unless such a request is made, voting may be conducted in any way approved at the meeting. At any meeting
at which there is an election of directors, the Chairman of the meeting may, and upon the request of the holders often percent of the stock entitled to vote at such election shall, appoint two
inspectors of election who shall first subscribe an oath or affirmation to execute faithfully the duties of inspectors at such election with strict impartiality and according to the best of their
ability, and shall, after the election, make a certificate of the result of the vote taken. No candidate for the office of director shall be appointed as an inspector. 

        Section 6.    Validity of Proxies.    The right to vote by proxy shall exist only if the instrument
authorizing such proxy to act shall have been signed by the stockholder or by his or her duly authorized attorney or if the proxy is authorized in any other manner permitted by applicable law. Unless
a proxy provides otherwise, it shall not be valid more than eleven months after its date. All proxies shall be delivered to the Secretary of the Corporation or to the person acting as Secretary of the
meeting before being voted, who shall decide all questions concerning qualification of voters, the validity of proxies, and the acceptance or rejection of votes. If inspectors of election have been
appointed by the Chairman of the meeting, such inspectors shall decide all such questions. A proxy with respect to stock held in the name of two or more persons shall be valid if executed by one of
them unless at or prior to exercise of such proxy the Corporation receives a specific written notice to the contrary from any one of them. A proxy purporting to be executed by or on behalf of a
stockholder shall be deemed valid unless challenged at or prior to its exercise. 

        Section 7.    Stock Ledger.    It shall be the duty of the Secretary or Assistant Secretary of the
Corporation to cause an original or duplicate stock ledger to be maintained at the office of the 

3

 

Corporation's
transfer agent. Such stock ledger may be in written form or any other form capable of being converted into written form within a reasonable time for visual inspection. 

        Section 8.    Action Without Meeting.    Any action required or permitted to be taken by stockholders at a
meeting of stockholders may be taken without a meeting if (1) all stockholders entitled to vote on the matter sign a written consent to the action, (2) all stockholders entitled to
notice of the meeting but not entitled to vote at it sign a written waiver of any right to dissent, and (3) the consents and waivers are filed with the records of the meetings of stockholders.
Such consent shall be treated for all purposes as a vote at the meeting. 

        Section 9.    Advance Notice of Stockholder Nominees for Director and Other Stockholder Proposals.

         (a)  Annual Meetings of Stockholders.    (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 9(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 9(a). 

         (2)  For
nominations or other business to be properly brought before an annual meeting by a stockholder pursuant to clause (iii) of paragraph (a)(l) of this
Section 9, 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 be delivered to the Secretary at the principal executive offices of the Corporation not less than 90 days nor more than 120 days
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 mailing of the notice for the
annual meeting is advanced or delayed by more than 30 days from the first anniversary of the date of mailing of the notice for the preceding year's annual meeting, notice by the stockholder to
be timely must be so delivered not earlier than the 120th day prior to the date of mailing of the notice for such annual meeting and not later than the close of business on the
later of the 90th day prior to the date of mailing of the notice for such annual meeting or the tenth day following the day on which disclosure of the date of mailing of the
notice for such meeting is first made. In no event shall the public announcement of a postponement or adjournment of an annual meeting commence a new time period for the giving of a stockholder's
notice as described above. Such stockholder's notice shall 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 and number of shares of stock of the Corporation that are beneficially owned by such person and (C) if the
Corporation has any class or series of stock which is registered under the Securities Exchange Act of 1934 (the "Exchange Act"), 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 Exchange Act and the rules thereunder (including such person's written consent to being named in the proxy statement 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 the business desired to be brought before the
meeting, the reasons for conducting such business at the meeting and any material interest in such business of such stockholder (including any anticipated benefit to the stockholder therefrom) and of
each beneficial owner, if any, on whose behalf the proposal is made; and (iii) as to the stockholder giving the notice and each beneficial owner, if any, on whose behalf the nomination or
proposal is made, (x) 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 beneficial owner, and
(y) the class and number of shares of each 

4

 

class
of stock of the Corporation which are owned beneficially and of record by such stockholder and owned beneficially by such beneficial owner. 

         (3)  Notwithstanding
anything in this subsection (a) of this Section 9 to the contrary, in the event the Board of Directors increases or decreases the maximum
or minimum number of directors in accordance with Article III, Section 2 of these Bylaws, and there is no announcement of such action at least 100 days prior to the first
anniversary of the date of mailing of the notice of the preceding year's annual meeting, a stockholder's notice required by this Section 9(a) shall also be considered timely, but only with
respect to nominees for any new positions created by such increase, if it shall be delivered to the Secretary at the principal executive offices of the Corporation not later than the close of business
on the tenth day following the day on which such public announcement is first made by the Corporation. 

         (b)  Special Meetings of Stockholders.    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 9 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 9. 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 as a director as specified in the Corporation's notice of meeting, if the stockholder's notice required by paragraph (a)(2) of this Section 9 shall be
delivered to the Secretary at the principal executive offices of the Corporation not earlier than the 120th day prior to such special meeting and not later than the close of
business on the later of the 90th 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 of 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 commence a
new time period for the giving of a stockholder's notice as described above. 

         (c)  General.    Only such persons who are nominated in accordance with the procedures set forth in this
Section 9 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 9. 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 9 and, if any proposed nomination or business is not in compliance with this Section 9,
to declare that such defective nomination or proposal be disregarded. 

ARTICLE III;

BOARD OF DIRECTORS  

        Section 1.    Powers.    Except as otherwise provided by operation of law, by the
Charter, or by these Bylaws, the business and affairs of the Corporation shall be managed under the direction of and all the powers of the Corporation shall be exercised by or under authority of its
Board of Directors. 

        Section 2.    Number and Term of Directors.    Except for the initial Board of Directors, the Board of
Directors shall consist of a number of directors which may be established, and thereafter increased or decreased from time to time, as specified by a resolution of a majority of the entire Board of
Directors but in no event shall the number of directors be fewer than one nor more than nine. 

5

 

Directors
need not be stockholders of the Corporation. All acts done at any meeting of the directors or by any person acting as a director, so long as his or her successor shall not have been duly
elected or appointed, shall, notwithstanding that it be afterwards discovered that there was some defect in the election of the directors or of such person acting as a director, or that they or any of
them were disqualified, be as valid as if the directors or such other person, as the case may be, had been duly elected and were or was qualified to be directors or a director of the Corporation. Each
director shall hold office until his or her successor is elected and qualified or until his or her earlier death, resignation, or removal. 

        Section 3.    Election.    A plurality of all the votes cast at a meeting of stockholders duly called and at
which a quorum is present is sufficient to elect a director. Each share may be voted for as many individuals as there are directors to be elected and for whose election the share is entitled to be
voted. 

        Section 4.    Vacancies and Newly Created Directorships.    If any vacancies shall occur in the Board of
directors by reason of death, resignation, removal, or otherwise, or if the authorized number of directors shall be increased, the directors then in office shall continue to act, and such vacancies
(if not previously filled by the stockholders) may be filled by a majority of the directors then in office, although less than a quorum, except that a newly created directorship may be filled only by
a majority vote of the entire Board of Directors. 

        Section 5.    Removal.    The stockholders may remove any director in accordance with and subject to the
provisions of the Charter and applicable law. 

        Section 6.    Annual and Regular Meetings.    The annual meeting of the Board of Directors for choosing
officers and transacting other proper business shall be held within a reasonable time after each annual meeting of stockholders at such time and place as the Board may determine. The Board of
Directors from to time may provide by resolution for the holding of regular meetings and fix their time and place within or outside the State of Maryland. Notice of the time and place of such annual
and regular meeting shall be specified in a notice given as hereinafter provided in the manner provided for notice of special meetings. Members of the Board of Directors or any committee designated
thereby, may participate in a meeting of such Board or committee by means of a conference telephone or similar communications equipment that allows all persons participating in the meeting to hear
each other at the same time. 

        Section 7.    Special Meetings.    Special meetings of the Board of Directors shall be held whenever called
by the Chairman of the Board, the Vice Chairman, the President (or, in the absence or disability of the President, by any Vice President), the Chief Financial Officer, or by two or more directors, at
the time and place (within or without the State of Maryland) specified in the respective notice or waivers of notice of such meetings. Notice of special meetings, stating the time and place, shall be
(1) mailed to each director at his or her residence or regular place of business at least three days before the day on which a special meeting is to be held, or (2) delivered to him or
her personally or transmitted to him or her by telegraph, telecopy, telex, cable, or wireless at least one day before the meeting. 

        Section 8.    Waiver of Notice.    No notice of any meeting need be given to any director who is present at
the meeting or who waives notice of such meeting in writing (which waiver shall be filed with the records of such meeting) either before or after the time of the meeting. 

        Section 9.    Quorum and Voting.    At all meetings of the Board of Directors, the presence of one half or
more of the number of directors then in office shall constitute a quorum for the transaction of business, provided that, at any time that there shall be more than one director, there shall be present
at least two directors. In the absence of a quorum, a majority of the directors present may adjourn the meeting, from time to time, until a quorum shall be present. The action of a majority of the
directors present at a meeting at which a quorum is present shall be the action of the Board of Directors, unless 

6

 

concurrence
of a greater proportion is required for such action by law, by the Charter, or by these Bylaws. 

        Section 10.    Telephonic Meetings.    Members of the Board of Directors or any committee of the Board of
Directors may participate in a meeting by means by a conference telephone or similar communications equipment if all persons participating in the meeting can hear each other at the same time. 

        Section 11.    Action Without a Meeting.    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 a written consent to such action is signed by all members of the Board or of such committee, as the case may be,
and such written consent is filed with the minutes of proceedings of the Board or committee. 

        Section 12.    Compensation of Directors.    Directors shall be entitled to receive such compensation from
the Corporation for their services as may from time to time be determined by resolution of the Board of Directors. 

ARTICLE IV

COMMITTEES  

        Section 1.    Organization.    By resolution adopted by the Board of Directors, the
Board may designate one or more committees of the Board of Directors, including an Executive Committee. The Chairmen of such committees shall be elected by the Board of Directors. Each committee must
be comprised of one or more members, each of whom must be a director and shall hold committee membership at the pleasure of the Board. The Board of Directors shall have the power at any time to change
the members of such committees and to fill vacancies in the committees. The Board may delegate to these committees any of its powers, except as prohibited by law. 

        Section 2.    Executive Committee.    Unless otherwise provided by resolution of the Board of Directors,
when the Board of Directors is not in session, the Executive Committee, if one is designated by the Board, shall have and may exercise all powers of the Board of Directors in the management of the
business and affairs of the Corporation that may lawfully be exercised by an Executive Committee. The President and Chairman shall automatically be members of the Executive Committee. 

        Section 3.    Proceedings and Quorum.    Notice of committee meetings shall be given in the same manner as
notice for special meetings of the Board of Directors. In the absence of an appropriate resolution of the Board of Directors, each committee may adopt such rules and regulations governing its
proceedings, quorum, and manner of acting as it shall deem proper and desirable. In the event any member of any committee is absent from any meeting, the members thereof present at the meeting,
whether or not they constitute a quorum, may appoint a member of the Board of Directors to act in the place of such absent member. 

        Section 4.    Other Committees.    The Board of Directors may appoint other committees, each consisting of
one or more persons, who need not be directors. Each such committee shall have such powers and perform such duties as may be assigned to it from time to time by the Board of Directors, but shall not
exercise any power which may lawfully be exercised only by the Board of Directors or a committee thereof. 

ARTICLE V

OFFICERS  

        Section 1.    General.    The officers of the Corporation shall be a President, a
Treasurer, who shall also be the Chief Financial Officer unless the Board of Directors otherwise specifies, a Secretary and such other officers, if any, as the Board of Directors from time to time may
in its discretion elect 

7

 

or
appoint in accordance with Section 9 of this Article including without limitation a Chairman of the Board, one or more Vice Presidents and a Controller. The Corporation may also have such
agents, if any, as the Board of Directors from time to time may in its discretion choose. Any officer may be but none need be a stockholder. Any officer may be required by the Board of Directors to
secure the faithful performance of his duties to the corporation by giving bond in such amount and with sureties or otherwise as the Board of Directors may determine. 

        Section 2.    Election, Tenure and Qualifications.    The officers of the Corporation, except those
appointed as provided in Section 9 of this Article V, shall be elected by the Board of Directors at its first meeting or such subsequent meetings as shall be held prior to its first
annual meeting, and thereafter annually at its annual meeting. If any officers are not elected at any annual meeting, such officers may be elected at any subsequent regular or special meeting of the
Board. Except as otherwise provided in this Article V, each officer elected by the Board of Directors shall hold office until the next annual meeting of the Board of Directors and until his or
her successor shall have been elected and qualified. Any person may hold one or more offices of the Corporation, except that no one person may serve concurrently as both President and Vice President.
A person who holds more than one office in the Corporation may not act in more than one capacity to execute, acknowledge, or verify an instrument required by law to be executed, acknowledged, or
verified by more than one officer. No officer, other than the Chairman or Vice Chairman, need be a director. 

        Section 3.    Vacancies and Newly Created Officers.    If any vacancy shall occur in any office by reason of
death, resignation, removal, disqualification, or other cause, or if any new office shall be created, such vacancies or newly created offices may be filled by the Board of Directors at any regular or
special meeting or, in the case of any office created pursuant to Section 9 hereof, by any officer upon whom such power shall have been conferred by the Board of Directors. 

        Section 4.    Removal and Resignation.    Any officer may be removed from office by the vote of a majority
of the members of the Board of Directors given at a regular meeting or any special meeting called for such purpose. Any officer may resign from office at any time by delivering a written resignation
to the Board of Directors, the President, the Chairman, the Secretary, or any Assistant Secretary. Unless otherwise specified therein, such resignation shall take effect upon delivery. 

        Section 5.    Chairman, President and Vice President.    The Chairman of the Board, if any, shall have such
duties and powers as shall be designated from time to time by the Board of Directors. Unless the Board of Directors otherwise specifies, the Chairman of the Board, or if there is none, the Chief
Executive Officer, shall preside, or designate the person who shall preside, at all meetings of the stockholders and of the Board of Directors. 

        Unless
the Board of Directors otherwise specifies, the President shall be the Chief Executive Officer and shall have direct charge of all business operations of the corporation and,
subject to the control of the directors, shall have general charge and supervision of the business of the corporation. 

        Any
Vice Presidents shall have such duties and powers as shall be set forth in these Bylaws or as shall be designated from time to time by the Board of Directors or by the President. 

        Section 6.    Treasurer, Chief Financial Officer and Assistant Chief Financial Officers.    Unless the Board
of Directors otherwise specifies, the Treasurer shall be the Chief Financial Officer of the Corporation and shall be in charge of its funds and valuable papers, and shall have such other duties and
powers as may be designated from time to time by the Board of Directors or by the President. If no Controller is elected, the Chief Financial Officer shall, unless the Board of Directors otherwise
specifies, also have the duties and powers of the Controller. 

        Any
assistant Chief Financial Officers or Assistant Treasurers shall have such duties and powers as shall be designated from time to time by the Board of Directors, the President or the
Treasurer. 

8

 

        Section 7.    Controller and Assistant Controller.    If a Controller is elected, he shall, unless the Board
of Directors otherwise specifies, be the chief accounting officer of the corporation and be in charge of its books of account and accounting records, and of its accounting procedures. He shall have
such other duties and powers as may be designated from time to time by the Board of Directors, the President or the Treasurer. 

        Section 8.    Secretary and Assistant Secretaries.    The Secretary shall attend to the giving and serving
of all notices of the Corporation and shall record all proceedings of the meetings of the stockholders and directors in books to be kept for that purpose. The Secretary shall keep in safe custody the
seal of the Corporation, and shall have responsibility for the records of the Corporation, including the stock books and such other books and papers as the Board of Directors may direct and such
books, reports, certificates, and other documents required by law to be kept, all of which shall at all reasonable times
be open to inspection by any director. The Secretary shall perform such other duties which appertain to this office or as may be required by the Board of Directors. 

        Any
Assistant Secretary may perform such duties of the Secretary as the Secretary or the Board of Directors may assign, and, in the absence of the Secretary, may perform all the duties
of the Secretary. 

        Section 9.    Subordinate Officers.    The Board of Directors from time to time may appoint such other
officers and agents as it may deem advisable, each of whom shall have such title, hold office for such period, have such authority, and perform such duties as the Board of Directors may determine. The
Board of Directors from time to time may delegate to one or more officers or agents the power to appoint any such subordinate officers or agents and to prescribe their respective rights, terms of
office, authorities, and duties. Any officer or agent appointed in accordance with the provisions of this Section 9 may be removed, either with or without cause, by any officer upon whom such
power of removal shall have been conferred by the Board of Directors. 

        Section 10.    Remuneration.    The salaries or other compensation, if any, of the officers of the
Corporation shall be fixed from time to time by resolution of the Board of Directors in the manner provided by Section 12 of Article III, except that the Board of Directors may by
resolution delegate to any person or group of persons the power to fix the salaries or other compensation of any subordinate officers or agents appointed in accordance with the provisions of
Section 9 of this Article V. 

        Section 11.    Surety Bond.    The Board of Directors may require any officer or agent of the Corporation to
execute a bond to the Corporation in such sum and with such surety or sureties as the Board of Directors may determine, conditioned upon the faithful performance of his or her duties to the
Corporation, including responsibility for negligence and for the accounting of any of the Corporation's property, funds or securities that may come into his or her hands. 

ARTICLE VI

CAPITAL STOCK  

        Section 1.    Certificates of Stock.    The interest of each stockholder of the
Corporation may be evidenced by certificates for shares of stock in such form as the Board of Directors may from time to time authorize; provided, however, the Board of Directors may, in its
discretion, authorize the issuance of non-certificated shares. No certificate shall be valid unless it is signed by the Chairman of the Board, President, or a Vice President and
countersigned by the Secretary or an Assistant Secretary, or the Treasurer or an Assistant Treasurer of the Corporation and sealed with the seal of the Corporation, or bears the facsimile signatures
of such officers and a facsimile of such seal. In case any officer who shall have signed any such certificate, or whose facsimile signature has been placed thereon, shall cease to be such an officer
(because of death, resignation, or otherwise) before such certificate is issued, such certificate may be issued and delivered by the Corporation with the same effect as if he or she were such officer
at the date of issue. Each certificate representing shares which are restricted as to their 

9

 

transferability
or voting powers, which are preferred or limited as to their dividends or as to their allocable portion of the assets upon liquidation or which are redeemable at the option of the
Corporation, shall have a statement of such restriction, limitation, preference or redemption provision, or a summary thereof, plainly stated on the certificate. If the Corporation has authority to
issue stock of more than one class, the certificate shall contain on the face or back a full statement or summary of the designations and any preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends and other distributions, qualifications and terms and conditions of redemption of each class of stock and, if the Corporation is authorized to issue any
preferred or special class in series, the differences in the relative rights and preferences between the shares of each series to the extent they have been set and the authority of the Board of
Directors to set the relative rights and preferences of subsequent series. In lieu of such statement or summary, the certificate may state that the Corporation will furnish a full statement of such
information to any stockholder upon request and without charge. If any class of stock is restricted by the Corporation as to transferability, the certificate shall contain a full statement of the
restriction or state that the Corporation will furnish information about the restrictions to the stockholder on request and without charge. 

        In
the event that the Board of Directors authorizes the issuance of non-certificated shares of stock, the Board of Directors may, in its discretion and at any time,
discontinue the issuance of share certificates and may, by written notice to the registered owners of each certificated share, require the surrender of share certificates to the Corporation for
cancellation. Such surrender and cancellation shall not affect the ownership of shares of the Corporation. 

        Section 2.    Transfer of Shares.    Subject to the provisions of the next sentence of this Section 2
of Article VI, shares of the Corporation shall be transferable on the books of the Corporation by the holder of record thereof in person or by his or her duly authorized attorney or legal
representative (i) upon surrender and cancellation of any certificate or certificates for the same number of shares of the same class, duly endorsed or accompanied by proper instruments of
assignment and transfer, with such proof of the authenticity of the signature as the Corporation or its agents may reasonably require,
or (ii) as otherwise prescribed by the Board of Directors. The Board of Directors may, from time to time, adopt limitations and rules and regulations with reference to the transfer of the
shares of stock of the Corporation to comply with the requirements of the Securities Act of 1933, as amended, or other applicable laws. The Corporation shall be entitled to treat the holder of record
of any share of stock as the absolute owner thereof for all purposes, and accordingly shall not be bound to recognize any legal, equitable, or other claim or interest in such share on the part of any
other person, whether or not it shall have express or other notice thereof, except as otherwise expressly provided by law or the statutes of the State of Maryland. 

        Notwithstanding
the foregoing, transfers of shares of stock will be subject in all respects to the Charter of the Corporation and all of the terms and conditions contained therein. 

        Section 3.    Stock Ledger.    The stock ledger of the Corporation, containing the names and addresses of
the stockholders and the number of shares of stock held by them respectively, shall be kept at the principal offices of the Corporation or, if the Corporation employs a transfer agent, at the offices
of the transfer agent of the Corporation. 

        Section 4.    Transfer Agents and Registrars.    The Board of Directors may from time to time appoint or
remove transfer agents and registrars of transfers for shares of stock of the Corporation, and it may appoint the same person as both transfer agent and registrar. Upon any such appointment being
made, all certificates representing shares of capital stock thereafter issued shall be countersigned by one of such transfer agents or by one of such registrars or by both and shall not be valid
unless so countersigned. If the same person shall be both transfer agent and registrar, only one countersignature by such person shall be required. 

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        Section 5.    Fixing of Record Date.    The Board of Directors may fix in advance a date as a record date
for the determination of the stockholders entitled to notice of or to vote at any stockholders' meeting or any adjournment thereof, or to express consent to corporate action in writing without a
meeting, or to receive payment of any dividend or other distribution or allotment of any rights, or to exercise any rights in respect of any change, conversion, or exchange of stock, or for the
purpose of any other lawful action, provided that (1) such record date shall not be prior to the close of business on the day the record date is fixed and shall be within ninety days prior to
the date on which the particular action requiring such determination will be taken, (2) the transfer books shall not be closed for a period longer than twenty days, and (3) in the case
of a meeting of stockholders, the record date shall be at least ten days before the date of the meeting. 

        Section 6.    Lost, Stolen or Destroyed Certificates.    Before issuing a new certificate for stock of the
Corporation alleged to have been lost, stolen, or destroyed, the Board of Directors or any officer
authorized by the Board may, in their discretion, require the owner of the lost, stolen, or destroyed certificate (or his or her legal representative) to give the Corporation a bond or other
indemnity, in such form and in such amount as the Board or any such officer may direct and with such surety or sureties as may be satisfactory to the Board or any such officer, sufficient to indemnify
the Corporation against any claim that may be made against it on account of the alleged loss, theft, or destruction of any such certificate or the issuance of such new certificate. 

ARTICLE VII

FISCAL YEAR  

        The fiscal year of the Corporation shall, unless otherwise ordered by the Board of Directors, be twelve calendar months ending on the 31st day of December. 

ARTICLE VIII

INDEMNIFICATION AND INSURANCE  

        Section 1.    Indemnification of Officers and Directors.    The Corporation shall
indemnify, in the manner and to the maximum extent permitted by law, any person (or the estate of any person) who is or was a party to, or is threatened to be made a party to, any threatened, pending
or completed action, suit or proceeding, whether or not by or in the right of the Corporation, and whether civil, criminal, administrative, investigative or otherwise, by reason of the fact that such
person is or was a director or officer of the Corporation or that such person while a director or officer of the Corporation is or was serving at the request of the Corporation as a director, officer,
trustee, partner, member, agent or employee of another corporation, partnership, limited liability company, association, joint venture, trust or other enterprise. To the maximum extent permitted by
law, the indemnification provided herein shall include expenses (including attorneys' fees), judgments, fines and amounts paid in settlement, and any such expenses may be paid by the Corporation in
advance of the final disposition of such action, suit or proceeding. The indemnification and reimbursement of expenses provided herein shall not be deemed to limit the right of the Corporation to
indemnify any other person against any liability and expenses to the fullest extent permitted by law, nor shall it be deemed exclusive of any other rights to which any person seeking indemnification
from the Corporation may be entitled under any agreement, the Charter of the Corporation, a vote of stockholders or disinterested directors, or otherwise, both as to action in such person's official
capacity as an officer or director and as to any action in another capacity, at the request of the Corporation, while acting as an officer or director of the Corporation. 

        Section 2.    Indemnification of Employees and Agents.    The Corporation shall have the power, with the
approval of the Board of Directors, to provide indemnification and advancement of expenses, to the same extent which it is authorized to provide indemnification to present and past directors and
officers, to any person who served a predecessor of the Corporation in any of the capacities described 

11

 

in
Section 1 of this Article VIII above and to any employee or agent of the Corporation or a predecessor of the Corporation. 

        Section 3.    Insurance of Officers, Directors, Employees and Agents.    The Corporation may purchase and
maintain insurance on behalf of any person who is or was a director or officer of the Corporation or who while a director or officer of the Corporation, is or was serving at the request of the
Corporation as a director, officer, trustee, partner, member, agent or employee of another corporation, partnership, limited liability company, association, joint venture, trust, or other enterprise,
against any liability asserted against that person and incurred by that person in or arising out of his or her position, whether or not the Corporation would have the power to indemnify him or her
against such liability. Notwithstanding the foregoing, any insurance so purchased will not protect or purport to protect any officer or director against liabilities for willful misfeasance, bad faith,
gross negligence, or reckless disregard of duty. 

        Section 4.    Amendment.    No amendment, alteration, or repeal of this Article or the adoption, alteration,
or amendment of any other provision of the Charter or Bylaws inconsistent with this Article shall adversely affect any right or protection of any person under this Article with respect to any act or
failure to act which occurred prior to such amendment, alteration, repeal, or adoption. 

ARTICLE IX

AMENDMENTS  

        The Board of Directors shall have the exclusive right and power to amend, alter or repeal any of the Bylaws, and to adopt new Bylaws. 

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