Document:

ADVAXIS,
      INC.

     

    
      
        

      

    

    
       

      BY-LAWS

    

    

    
      
 

    Effective
      as of March 29, 2006

    

    ARTICLE
      I

    

    MEETINGS
      OF STOCKHOLDERS

    

    Section
      1.
      Place
      of Meetings.
      Meetings of the stockholders for the election of directors or for any other
      purpose shall be held at such time and place, either within or without the
      State
      of Delaware as shall be designated from time to time by the Board of Directors
      or the President and stated in the notice of the meeting or in a duly executed
      waiver of notice thereof.

    

    Section
      2.
      Annual
      Meetings.
      The
      Annual Meeting of Stockholders shall be held on such date and at such time
      as
      shall be designated from time to time by the Board of Directors and stated
      in
      the notice of the meeting, at which meeting the stockholders shall elect by
      a
      plurality vote a Board of Directors, and transact such other business as may
      properly be brought before the meeting. Written notice of the Annual Meeting
      of
      Stockholders stating the place, date and hour of the meeting shall be given
      to
      each stockholder entitled to vote at such meeting not less than ten nor more
      than sixty days before the date of the meeting.

    

    Section
      3.
      Special
      Meetings.
      Unless
      otherwise prescribed by law or by the Certificate of Incorporation, Special
      Meetings of Stockholders, for any purpose or purposes, may be called at any
      time
      by the Board of Directors. Written notice of a Special Meeting stating the
      place, date and hour of the meeting and the purpose or purposes for which the
      meeting is called shall be given not less than ten nor more than sixty days
      before the date of the meeting to each stockholder entitled to vote at such
      meeting.

    

    Section
      4.
      Quorum.
      Except
      as otherwise provided by law or by the Certificate of Incorporation, the holders
      of one-third of the capital stock issued and outstanding and entitled to vote
      thereat, present in person or represented by proxy, shall constitute a quorum
      at
      all meetings of the stockholders for the transaction of business. If, however,
      such quorum shall not be present or represented at any meeting of the
      stockholders, the stockholders entitled to vote thereat, present in person
      or
      represented by proxy, shall have power to adjourn the meeting from time to
      time,
      without notice other than announcement at the meeting, until a quorum shall
      be
      present or represented. At such adjourned meeting at which a quorum shall be
      present or represented, any business may be transacted which might have been
      transacted at the meeting as originally noticed. If the adjournment is for
      more
      than thirty days, or if after the adjournment a new record date is fixed for
      the
      adjourned meeting, a notice of the adjourned meeting shall be given to each
      stockholder entitled to vote at the meeting.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Section
      5.
      Voting.
      Unless
      otherwise required by law, the Certificate of Incorporation or these By-Laws,
      any question brought before any meeting of stockholders shall be decided by
      the
      vote of the holders of a majority of the stock represented and entitled to
      vote
      thereat. Each stockholder represented at a meeting of stockholders shall be
      entitled to cast one vote for each share of the capital stock entitled to vote
      thereat held by such stockholder. Such votes may be cast in person or by proxy
      but no proxy shall be voted on or after three years from its date, unless such
      proxy provides for a longer period. The Board of Directors, in its discretion,
      or the officer of the Corporation presiding at a meeting of stockholders, in
      his
      discretion, may require that any votes cast at such meeting shall be cast by
      written ballot.

    

    Section
      6.
      Consent
      of Stockholders in Lieu of Meeting.
      Unless
      otherwise provided in the Certificate of Incorporation, any action required
      or
      permitted to be taken at any Annual or Special Meeting of Stockholders of the
      Corporation, may be taken without a meeting, without prior notice and without
      a
      vote, in a consent in writing, setting forth the action so taken, signed by
      the
      holders of outstanding stock having not less than the minimum number of votes
      that would be necessary to authorize or take such action at a meeting at which
      all shares entitled to vote thereon were present and voted. Prompt notice of
      the
      taking of the corporate action without a meeting by less than unanimous written
      consent shall be given to those stockholders who have not consented in writing.
      In the event that the action which is consented to is such as would have
      required the filing of a certificate under the General Corporation Law, if
      such
      action had been voted on by stockholders at a meeting thereof, the certificate
      filed shall state, in lieu of any statement concerning any vote of stockholders,
      that written consent and written notice has been given as provided in this
      Section 6.

    

    Section
      7.
      List
      of Stockholders Entitled to Vote.
      The
      officer of the Corporation who has charge of the stock ledger of the Corporation
      shall prepare and make, at least ten days before every meeting of stockholders,
      a complete list of the stockholders entitled to vote at the meeting, arranged
      in
      alphabetical order, and showing the address of each stockholder and the number
      of shares registered in the name of each stockholder. Such list shall be open
      to
      the examination of any stockholder, for any purpose germane to the meeting,
      during ordinary business hours, for a period of at least ten days prior to
      the
      meeting, either at a place within the city where the meeting is to be held,
      which place shall be specified in the notice of the meeting, or, if not so
      specified, at the place where the meeting is to be held. The list shall also
      be
      produced and kept at the time and place of the meeting during the whole time
      thereof, and may be inspected by any stockholder of the Corporation who is
      present.

    

    Section
      8.
      Stock
      Ledger.
      The
      stock ledger of the Corporation shall be the only evidence as to who are the
      stockholders entitled to examine the stock ledger, the list required by Section
      7 of this Article I or the books of the Corporation, or to vote in person or
      by
      proxy at any meeting of stockholders.

     

    
      
         

      

      
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    ARTICLE
      II

    

    DIRECTORS

    

    Section
      1.
      Number,
      Election, Resignation and Removal of Directors.
      The
      Board of Directors shall consist of not less than one nor more than nine
      members, the exact number of which shall be fixed from time to time by the
      Board
      of Directors. Except as provided in Section 2 of this Article, directors shall
      be elected by a plurality of the votes cast at Annual Meetings of Stockholders,
      and each director so elected shall hold office until the next Annual Meeting
      and
      until his successor is duly elected and qualified, or until his earlier
      resignation or removal. Any director may resign at any time upon notice to
      the
      Corporation. Any director may be removed at any time for cause or without cause
      by the vote of the holders of a majority of the common stock then entitled
      to
      vote at an election of directors. Any director may be removed at any time for
      cause by the vote of a majority of the Board of Directors. The vacancy on the
      Board of Directors caused by any such removal may be filled by the stockholders
      at such meeting or as provided in Section 2 of this Article II.

    

    Section
      2.
      Vacancies.
      Vacancies, and newly created directorships resulting from any increase in the
      authorized number of directors, may be filled by vote of a majority of the
      directors then in office (even if such remaining directors constitute less
      than
      a quorum) or of the sole remaining director, and the directors so chosen shall
      hold office until the next annual election and until their successors are duly
      elected and qualified, or until their earlier resignation or
      removal.

    

    Section
      3.
      Duties
      and Powers.
      The
      business of the Corporation shall be managed by or under the direction of the
      Board of Directors which may exercise all such powers of the Corporation and
      do
      all such lawful acts and things as are not by statute or by the Certificate
      of
      Incorporation or by these By-Laws directed or required to be exercised or done
      by the stockholders.

    

    Section
      4.
      Meetings.
      The
      Board of Directors of the Corporation may hold meetings, both regular and
      special, either within or without the State of Delaware. Regular meetings of
      the
      Board of Directors may be held without notice at such time and at such place
      as
      may from time to time be determined by the Board of Directors. Special meetings
      of the Board of Directors may be called by the President or any of the
      directors. Notice thereof stating the place, date and hour of the meeting and
      the purpose or purposes for which the meeting is called shall be given to each
      director either by mail not less than forty-eight (48) hours before the date
      of
      the meeting, by telephone on twenty-four (24) hours’ notice, or on such shorter
      notice as the person or persons calling such meeting may deem necessary or
      appropriate in the circumstances.

    

    Section
      5.
      Quorum.
      Except
      as may be otherwise specifically provided by law, the Certificate of
      Incorporation or these By-Laws, at all meetings of the Board of Directors,
      one-third of the entire Board of Directors shall constitute a quorum for the
      transaction of business and the act of a majority of the directors present
      at
      any meeting at which there is a quorum shall be the act of the Board of
      Directors. If a quorum shall not be present at any meeting of the Board of
      Directors, the directors present thereat may adjourn the meeting from time
      to
      time, without notice other than announcement at the meeting, until a quorum
      shall be present.

    

    
      
         

      

      
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    Section
      6.
      Actions
      of Board.
      Unless
      otherwise provided by the Certificate of Incorporation or these By-Laws, 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 all
      the
      members of the Board of Directors or committee, as the case may be, consent
      thereto in writing, and the writing or writings are filed with the minutes
      of
      proceedings of the Board of Directors or committee.

    

    Section
      7.
      Meeting
      by Means of Conference Telephone.
      Unless
      otherwise provided by the Certificate of Incorporation or these By-Laws, members
      of the Board of Directors, or any committee designated by the Board of
      Directors, may participate in a meeting of the Board of Directors or such
      committee by means of a conference telephone or similar communications equipment
      by means of which all persons participating in the meeting can hear each other,
      and participation in a meeting pursuant to this Section 7 shall constitute
      presence in person at such meeting.

    

    Section
      8.
      Committees.
      The
      Board of Directors may, by resolution passed by a majority of the entire Board
      of Directors, designate one or more committees, each committee to consist of
      one
      or more of the directors of the Corporation. The Board of Directors may
      designate one or more directors as alternate members of any committee, who
      may
      replace any absent or disqualified member at any meeting of any such committee.
      In the absence or disqualification of a member of a committee, and in the
      absence of a designation by the Board of Directors of an alternate member to
      replace the absent or disqualified member, the member or members thereof present
      at any meeting and not disqualified from voting, whether or not he or they
      constitute a quorum, may unanimously appoint another member of the Board of
      Directors to act at the meeting in the place of any absent or disqualified
      member. Any committee, to the extent allowed by law and provided in the
      resolutions establishing such committee, shall have and may exercise all the
      powers and authority of the Board of Directors in the management of the business
      and affairs of the Corporation, and may authorize the seal of the Corporation
      to
      be fixed to all papers which require it. Each committee shall keep regular
      minutes and report to the Board of Directors when required.

    

    ARTICLE
      III

    

    OFFICERS

    

    Section
      1.
      General.
      The
      officers of the Corporation shall be chosen by the Board of Directors and shall
      be a President, Treasurer and a Secretary. The Board of Directors, in its
      discretion, may also choose a Chief Executive Officer, Chief Financial Officer,
      Chief Operations Officer and one or more Vice Presidents, Assistant Secretaries,
      Assistant Treasurers and other officers. Any number of offices may be held
      by
      the same person, unless otherwise prohibited by law, the Certificate of
      Incorporation or these By-Laws. The officers of the Corporation need not be
      stockholders of the Corporation nor need such officers be directors of the
      Corporation.

    

    
      
         

      

      
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    Section
      2.
      Election.
      The
      Board of Directors at its first meeting held after each Annual Meeting of
      Stockholders shall elect the officers of the Corporation who shall hold their
      offices for such terms and shall exercise such powers and perform such duties
      as
      shall be determined from time to time by the Board of Directors; and all
      officers of the Corporation shall hold office until their successors are chosen
      and qualified, or until their earlier resignation or removal. Any officer
      elected by the Board of Directors may be removed with or without cause, at
      any
      time by the affirmative vote of a majority of the Board of Directors. Any
      vacancy occurring in any office of the Corporation shall be filled by the Board
      of Directors. The salaries of all officers of the Corporation shall be fixed
      by
      the Board of Directors.

    

    Section
      3.
      Voting
      Securities Owned by the Corporation.
      Powers
      of attorney, proxies, waivers of notice of meeting, consents and other
      instruments relating to securities owned by the Corporation may be executed
      in
      the name of and on behalf of the Corporation by any officer of the Corporation
      and any such officer may, in the name of and on behalf of the Corporation,
      take
      all such action as any such officer may deem advisable to vote in person or
      by
      proxy at any meeting of security holders of any corporation in which the
      Corporation may own securities and at any such meeting shall possess and may
      exercise any and all rights and power incident to the ownership of such
      securities and which, as the owner thereof, the Corporation might have exercised
      and possessed if present. The Board of Directors may, by resolution, from time
      to time confer like powers upon any other person or persons.

    

    Section
      4.
      President.
      The
      President shall, subject to the control of the Board of Directors, have general
      supervision of the business of the Corporation and shall see that all orders
      and
      resolutions of the Board of Directors are carried into effect. The President
      shall have the power and authority to execute all bonds, mortgages, contracts
      and other instruments of the Corporation requiring a seal, under the seal of
      the
      Corporation, except where required or permitted by law to be otherwise signed
      and executed without seal and except in such cases in which the other officers
      of the Corporation may sign and execute documents when so authorized by these
      By-Laws, the Board of Directors or the President. The President shall preside
      at
      all meetings of the stockholders and the Board of Directors. The President
      shall
      also perform such other duties and may exercise such other powers as from time
      to time may be assigned to him by these By-Laws or by the Board of
      Directors.

    

    Section
      5.
      Secretary.
      The
      Secretary shall attend all meetings of the Board of Directors and all meetings
      of stockholders and record all the proceedings thereat in a book or books to
      be
      kept for that purpose; the Secretary shall also perform like duties for the
      standing committees when required. The Secretary shall give, or cause to be
      given, notice of all meetings of the stockholders and special meetings of the
      Board of Directors, and shall perform such other duties as may be prescribed
      by
      the Board of Directors or the President, under whose supervision he shall be.
      If
      the Secretary shall be unable or shall refuse to cause to be given notice of
      all
      meetings of the stockholders and special meetings of the Board of Directors,
      then either the Board of Directors or the President may choose another officer
      to cause such notice to be given. The Secretary shall have custody of the seal
      of the Corporation and the Secretary shall have authority to affix the same
      to
      any instrument requiring it and when so affixed, it may be attested by the
      signature of the Secretary. The Secretary shall have the power and authority
      to
      execute all bonds, mortgages, contracts and other instruments of the Corporation
      requiring a seal, under the seal of the Corporation, except where required
      or
      permitted by law to be otherwise signed and executed without seal. The Board
      of
      Directors may give general authority to any other officer to affix the seal
      of
      the Corporation and to attest the affixing by his signature. The Secretary
      shall
      see that all books, reports, statements, certificates and other documents and
      records required by law to be kept or filed are properly kept or filed, as
      the
      case may be.

    

    
      
         

      

      
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    Section
      6.
      Other
      Officers.
      Such
      other officers as the Board of Directors may choose shall perform such duties
      and have such powers as from time to time may be assigned to them by the Board
      of Directors. The Board of Directors may delegate to any other officer of the
      Corporation the power to choose such other officers and to prescribe their
      respective duties and powers.

    

    ARTICLE
      IV

    

    STOCK

    

    Section
      1.
      Form
      of Certificates.
      Every
      holder of stock in the Corporation shall be entitled to have a certificate
      signed, in the name of the Corporation (i) by the President and (ii) by the
      Secretary or the Treasurer of the Corporation, certifying the number of shares
      owned by him in the Corporation.

    

    Section
      2.
      Signatures.
      Where a
      certificate is countersigned by (i) a transfer agent other than the Corporation
      or its employee, or (ii) a registrar other than the Corporation or its employee,
      any other signature on the certificate may be a facsimile. In case any officer,
      transfer agent or registrar who has signed or whose facsimile signature has
      been
      placed upon a certificate shall have ceased to be such officer, transfer agent
      or registrar before such certificate is issued, it may be issued by the
      Corporation with the same effect as if he were such officer, transfer agent
      or
      registrar at the date of issue.

    

    Section
      3.
      Lost
      Certificates.
      The
      Board of Directors may direct a new certificate to be issued in place of any
      certificate theretofore issued by the Corporation alleged to have been lost,
      stolen or destroyed, upon the making of an affidavit of that fact by the person
      claiming the certificate of stock to be lost, stolen or destroyed. When
      authorizing such issue of a new certificate, the Board of Directors may, in
      its
      discretion and as a condition precedent to the issuance thereof, require the
      owner of such lost, stolen or destroyed certificate, or his legal
      representative, to advertise the same in such manner as the Board of Directors
      shall require and/or to give the Corporation a bond in such sum as it may direct
      as indemnity against any claim that may be made against the Corporation with
      respect to the certificate alleged to have been lost, stolen or
      destroyed.

    

    Section
      4.
      Transfers.
      Stock
      of the Corporation shall be transferable in the manner prescribed by law and
      in
      these By-Laws. Transfers of stock shall be made on the books of the Corporation
      only by the person named in the certificate or by his attorney lawfully
      constituted in writing and upon the surrender of the certificate therefor,
      which
      shall be canceled before a new certificate shall be issued.

    

    
      
         

      

      
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    Section
      5.
      Record
      Date.
      In
      order that the Corporation may determine the stockholders entitled to notice
      of
      or to vote at any meeting of stockholders or any adjournment thereof, or
      entitled to express consent to corporate action in writing without a meeting,
      or
      entitled to receive payment of any dividend or other distribution or allotment
      of any rights, or entitled to exercise any rights in respect of any change,
      conversion or exchange of stock, or for the purpose of any other lawful action,
      the Board of Directors may fix, in advance, a record date, which shall be before
      the date of such meeting; in the case of consent to corporate action in writing
      without a meeting, the record date must not be more than ten days after the
      date
      upon which the resolution fixing the record date is adopted by the Board of
      Directors. A determination of stockholders of record entitled to notice of
      or to
      vote at a meeting of stockholders shall apply to any adjournment of the meeting;
      provided,
      however,
      that
      the Board of Directors may fix a new record date for the adjourned
      meeting.

    

    Section
      6.
      Beneficial
      Owners.
      The
      Corporation shall be entitled to recognize the exclusive right of a person
      registered on its books as the owner of shares to receive dividends, and to
      vote
      as such owner, and to hold liable for calls and assessments a person registered
      on its books as the owner of shares, and shall not be bound to recognize any
      equitable or other claim to or interest in such share or shares on the part
      of
      any other person, whether or not it shall have express or other notice thereof,
      except as otherwise provided by law.

    

    ARTICLE
      V

    

    NOTICES

    

    Section
      1.
      Notices.
      Whenever written notice is required by law, the Certificate of Incorporation
      or
      these By-Laws, to be given to any director, member of a committee or
      stockholder, such notice may be given by mail, addressed to such director,
      member of a committee or stockholder, at his address as it appears on the
      records of the Corporation, with postage thereon prepaid, and such notice shall
      be deemed to be given five days after the same shall be deposited in the United
      States mail. Written notice may also be given personally or by email, facsimile,
      telex or cable.

    

    Section
      2.
      Waivers
      of Notice.
      Whenever any notice is required by law, the Certificate of Incorporation or
      these By-Laws, to be given to any director, member of a committee or
      stockholder, a waiver thereof in writing, signed by the person or persons
      entitled to said notice, whether before or after the time stated therein, shall
      be deemed equivalent thereto.

    
      
         

      

      
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    ARTICLE
      VI

    

    GENERAL
      PROVISIONS

    

    Section
      1.
      Dividends.
      Dividends upon the capital stock of the Corporation, subject to the provisions
      of the Certificate of Incorporation, if any, may be declared by the Board of
      Directors at any regular or special meeting, and may be paid in cash, in
      property, or in shares of the capital stock. Before payment of any dividend,
      there may be set aside out of any funds of the Corporation available for
      dividends such sum or sums as the Board of Directors from time to time, in
      its
      absolute discretion, deems proper as a reserve or reserves to meet
      contingencies, or for equalizing dividends, or for repairing or maintaining
      any
      property of the Corporation, or for any proper purpose, and the Board of
      Directors may modify or abolish any such reserve.

    

    Section
      2.
      Disbursements.
      All
      checks or demands for money and notes of the Corporation shall be signed by
      such
      officer or officers or such other person or persons as the Board of Directors
      may from time to time designate.

    

    Section
      3.
      Fiscal
      Year.
      The
      fiscal year of the Corporation shall be fixed by the resolution of the Board
      of
      Directors.

    

    Section
      4.
      Corporate
      Seal.
      The
      corporate seal shall have inscribed thereon the name of the Corporation, the
      year of its organization and the words “Corporate Seal, Delaware.” The seal may
      be used by causing it or a facsimile thereof to be impressed or affixed or
      reproduced or otherwise.

    

    ARTICLE
      VII

    

    INDEMNIFICATION

    

    Section
      1.
      Power
      to Indemnify in Actions, Suits or Proceedings other Than Those by or in the
      Right of the Corporation.
      Subject
      to Section 3 of this Article VII, the Corporation shall indemnify any officer
      or
      director of the Corporation who was or is a party or is threatened to be made
      a
      party to any threatened, pending or completed action, suit or proceeding,
      whether civil, criminal, administrative or investigative (other than an action
      by or in the right of the Corporation) by reason of the fact that he is or
      was a
      director, officer, employee or agent of the Corporation, or is or was serving
      at
      the request of the Corporation as a director, officer, employee or agent of
      another corporation, partnership, limited liability company, joint venture,
      trust, employee benefit plan or other enterprise, against expenses (including
      attorneys’ fees), judgments, fines and amounts paid in settlement actually and
      reasonably incurred by him in connection with such action, suit or proceeding
      if
      he acted in good faith and in a manner he reasonably believed to be in or not
      opposed to the best interests of the Corporation, and, with respect to any
      criminal action or proceeding, had no reasonable cause to believe his conduct
      was unlawful. The termination of any action, suit or proceeding by judgment,
      order, settlement, conviction, or upon a plea of nolo contendere
      or its
      equivalent, shall not, of itself, create a presumption that the person did
      not
      act in good faith and in a manner which he reasonably believed to be in or
      not
      opposed to the best interests of the Corporation, and, with respect to any
      criminal action or proceeding, have reasonable cause to believe that his conduct
      was unlawful.

    

    
      
         

      

      
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    Section
      2.
      Power
      to Indemnify in Actions, Suits or Proceedings by or in the Right of the
      Corporation.
      Subject
      to Section 3 of this Article VII, the Corporation shall indemnify any officer
      or
      director of the Corporation who was or is a party or is threatened to be made
      a
      party to any threatened, pending or completed action or suit by or in the right
      of the Corporation to procure a judgment in its favor by reason of the fact
      that
      he is or was a director, officer, employee or agent of the Corporation, or
      is or
      was serving at the request of the Corporation as a director, officer, employee
      or agent of another corporation, partnership, limited liability company, joint
      venture, trust, employee benefit plan or other enterprise against expenses
      (including attorneys’ fees) actually and reasonably incurred by him in
      connection with the defense or settlement of such action or suit if he acted
      in
      good faith and in a manner he reasonably believed to be in or not opposed to
      the
      best interests of the Corporation; except that no indemnification shall be
      made
      in respect of any claim, issue or matters as to which such person shall have
      been adjudged to be liable to the Corporation unless and only to the extent
      that
      the Court of Chancery or the court in which such action or suit was brought
      shall determine upon application that, despite the adjudication of liability
      but
      in view of all the circumstances of the case, such person is fairly and
      reasonably entitled to indemnity for such expenses which the Court of Chancery
      or such other court shall deem proper.

    

    Section
      3.
      Authorization
      of Indemnification.
      Any
      indemnification under this Article VII (unless ordered by a court) shall be
      made
      by the Corporation only as authorized in the specific case upon a determination
      that indemnification of the director, officer, employee or agent is proper
      in
      the circumstances because he has met the applicable standard of conduct set
      forth in Section 1 or Section 2 of this Article VII, as the case may be. Such
      determination shall be made (i) by a majority vote of the directors who were
      not
      parties to such action, suit or proceeding even though less than a quorum,
      or
      (ii) if there are no such directors, or, if such directors so direct, by
      independent legal counsel in a written opinion, or (iii) by the stockholders.
      To
      the extent, however, that a director, officer, employee or agent of the
      Corporation has been successful on the merits or otherwise in defense of any
      action, suit or proceeding described above, or in defense of any claim, issue
      or
      matter therein, he shall be indemnified against expenses (including attorneys’
fees) actually and reasonably incurred by him in connection therewith, without
      the necessity of authorization in the specific case.

    

    Section
      4.
      Good
      Faith Defined.
      For
      purposes of any determination under Section 3 of this Article VII, a person
      shall be deemed to have acted in good faith and in a manner he reasonably
      believed to be in or not opposed to the best interests of the Corporation,
      or,
      with respect to any criminal action or proceeding, to have had no reasonable
      cause to believe his conduct was unlawful, if his action is based on the records
      or books of account of the Corporation or another enterprise, or on information
      supplied to him by the officers of the Corporation or another enterprise in
      the
      course of their duties, or on the advice of legal counsel for the Corporation
      or
      another enterprise or on information or records given or reports made to the
      Corporation or another enterprise by an independent certified public accountant
      or by an appraiser or other expert selected with reasonable care by the
      Corporation or another enterprise. The term "another enterprise" as used in
      this
      Section 4 shall mean any other corporation or any partnership, limited liability
      company, joint venture, trust, employee benefit plan or other enterprise of
      which such person is or was serving at the request of the Corporation as a
      director, officer, employee or agent. The provisions of this Section 4 shall
      not
      be deemed to be exclusive or to limit in any way the circumstances in which
      a
      person may be deemed to have met the applicable standard of conduct set forth
      in
      Section 1 or 2 of this Article VII, as the case may be.

    

    
      
         

      

      
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    Section
      5.
      Indemnification
      by a Court.
      Notwithstanding any contrary determination in the specific case under Section
      3
      of this Article VII, and notwithstanding the absence of any determination
      thereunder, any officer or director may apply to any court of competent
      jurisdiction in the State of Delaware for indemnification to the extent
      otherwise permissible under Sections 1 and 2 of this Article VII. The basis
      of
      such indemnification by a court shall be a determination by such court that
      indemnification of the officer or director is proper in the circumstances
      because he has met the applicable standards of conduct set forth in Sections
      1
      or 2 of this Article VII, as the case may be. Neither a contrary determination
      in the specific case under Section 3 of this Article VII nor the absence of
      any
      determination thereunder shall be a defense to such application or create a
      presumption that the officer or director seeking indemnification has not met
      any
      applicable standard of conduct. Notice of any application for indemnification
      pursuant to this Section 5 shall be given to the Corporation promptly upon
      the
      filing of such application. If successful, in whole or in part, the officer
      or
      director seeking indemnification shall also be entitled to be paid the expense
      of prosecuting such application.

    

    Section
      6.
      Expenses
      Payable in Advance.
      Expenses incurred in defending or investigating a threatened or pending action,
      suit or proceeding shall be paid by the Corporation in advance of the final
      disposition of such action, suit or proceeding upon receipt of an undertaking
      by
      or on behalf of such officer or director to repay such amount if it shall
      ultimately be determined that he is not entitled to be indemnified by the
      Corporation as authorized in this Article VII.

    

    Section
      7.
      Nonexclusivity
      of Indemnification and Advancement of Expenses.
      The
      indemnification and advancement of expenses provided by or granted pursuant
      to
      this Article VII shall not be deemed exclusive of any other rights to which
      those seeking indemnification or advancement of expenses may be entitled under
      any bylaw, agreement, contract, vote of stockholders or disinterested directors
      or pursuant to the direction (howsoever embodied) of any court of competent
      jurisdiction or otherwise, both as to action in his official capacity and as
      to
      action in another capacity while holding such office, it being the policy of
      the
      Corporation that indemnification of the persons specified in Sections 1 and
      2 of
      this Article VII shall be made to the fullest extent permitted by law. The
      provisions of this Article VII shall not be deemed to preclude the
      indemnification of any person who is not specified in Section 1 or 2 of this
      Article VII but whom the Corporation has the power or obligation to indemnify
      under the provisions of the General Corporation Law of the State of Delaware,
      or
      otherwise.

    

    Section
      8.
      Insurance.
      The
      Corporation may purchase and maintain insurance on behalf of any person who
      is
      or was a director, officer, employee or agent of the Corporation, or is or
      was
      serving at the request of the Corporation as a director, officer, employee
      or
      agent of another corporation, partnership, limited liability company, joint
      venture, trust, employee benefit plan or other enterprise against any liability
      asserted against him and incurred by him in any such capacity, or arising out
      of
      his status as such, whether or not the Corporation would have the power or
      the
      obligation to indemnify him against such liability under the provisions of
      this
      Article VII.

    

    
      
         

      

      
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    Section
      9.
      Certain
      Definitions.
      For
      purposes of this Article VII, references to "the Corporation" shall include,
      in
      addition to the resulting corporation, any constituent corporation (including
      any constituent of a constituent) absorbed in a consolidation or merger which,
      if its separate existence had continued, would have had power and authority
      to
      indemnify its officers or directors, so that any such person who is or was
      a
      director, officer, employee or agent of such constituent corporation, or is
      or
      was serving at the request of such constituent corporation as a director,
      officer, employee or agent of another corporation, partnership, limited
      liability company, joint venture, trust, employee benefit plan or other
      enterprise, shall stand in the same position under the provisions of this
      Article VII with respect to the resulting or surviving corporation as he would
      have with respect to such constituent corporation if its separate existence
      had
      continued. For purposes of this Article VII, references to "fines" shall include
      any excise taxes assessed on a person with respect to an employee benefit plan;
      and references to "serving at the request of the Corporation" shall include
      any
      service as a director, officer, employee or agent of the Corporation which
      imposes duties on, or involves services by, such director, officer, employee
      or
      agent with respect to an employee benefit plan, its participants or
      beneficiaries; and a person who acted in good faith and in a manner he
      reasonably believed to be in the interest of the participants and beneficiaries
      of an employee benefit plan shall be deemed to have acted in a manner "not
      opposed to the best interests of the Corporation" as referred to in this Article
      VII.

    

    Section
      10.
      Survival
      of Indemnification and Advancement of Expenses.
      The
      indemnification and advancement of expenses provided by, or granted pursuant
      to,
      this Article VII shall, unless otherwise provided when authorized or ratified,
      or by contract, continue as to a person who has ceased to be a director,
      officer, employee or agent and shall inure to the benefit of the heirs,
      executors and administrators of such person.

    

    Section
      11.
      Limitation
      of Indemnification.
      Notwithstanding anything contained in this Article VII to the contrary, except
      for proceedings to enforce rights to indemnification (which shall be governed
      by
      Section 5 of this Article VII), the Corporation shall not be obligated to
      indemnify any officer or director in connection with a proceeding (or part
      thereof) initiated by such person unless such proceeding (or part thereof)
      was
      authorized or consented to by the Board of Directors of the
      Corporation.

    

    Section
      12. Repeal
      or Amendment.
      Any
      repeal or amendment of the indemnification provisions contained herein will
      not
      adversely affect any right or protection in respect of any act or omission
      occurring prior to the time of such repeal or modification. 

    
      
         

      

      
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    ARTICLE
      VIII

     

    AMENDMENTS

     

    Section
      1.
      These
      By-Laws may be altered, amended or repealed, in whole or in part, or new by-laws
      may be adopted by the stockholders or by the Board of Directors; provided,
      however,
      that
      notice of such alteration, amendment, repeal or adoption of new by-laws be
      contained in the notice of such meeting of stockholders or Board of Directors,
      as the case may be. All such amendments must be approved be either of the
      holders of a majority of the outstanding capital stock entitled to vote thereon
      or by a majority of the entire Board of Directors then in office.

     

    Section
      2.
      Entire
      Board of Directors.
      As used
      in this Article VIII and in these By-Laws generally, the term “entire Board of
      Directors” means the total number of directors which the Corporation would have
      if there were no vacancies.

     

    

    [END
      OF
      DOCUMENT]

     

     

    
      
         

      

      
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