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Jt~J. 32 ,..494
to ~ltCh~:\(<i(' l~lr CotUnWII Sh..ck lut ~ut1ti~ or (lln"f pn.>l~rt} df:u\'ulIlb!( upon '!!\.l(:h (",.,}ltall'.vttA1\',
IlAtWIl, r~dA.,>>\.fi(,liI\ion. fVI\JKllidaHOn, I~'..~r, db.1K:IU\IUll, IIq\.Hdauon, or wil\dm~ \.Ii', M th.. C~ n~J b.,
(i') So imlg ..., an)' l>iull~ of the PN"1vCi'~i Stock "h.ali J"l!'f1\Al!l o'"lat.l\dm~ a~i ~ hokk-n t~r~f
s.hail h"yt' the rll\ht to (Vnvf<rt l!o&l(\ "lulfn m .~('Onbj)ce wllh the J.>f(I\'~()n,~ d lhlll s.r.Uon 7. the (">\Jr-
pOtatiOlI Will At ill! tunt'3 n.'~l'\ie {rom \he i1ulh.....fU.ed and UlHM\.HI'\l .h.H~ of it;; COHU1\Ot) Stock. a l\lfti.
nent IIUIll~r of ~l.Ut''' to pnl'ilde fur 5urh con","ni~, A-s ill c,mdlll')O pfE'C~",lt'nt to tll. taking of .ny
llc\lHII wtHt'h ,,",uuid caU-5~ all adlwtnwnt n!'lhH:II\& lh~ ('On'o't'::.ion pfl<:E- below tht.- l~ per ,,'alUff of t.he
"hiilCS (.f COlllIIIIJt\ Stn..~k IMuable upon (on"'e'n-I~' of the' Pn'{rll~ Stock, the- C'(trporabon Will alt. Ii;j(h
CorP'Hille actIOn a!J Ill")' lJ04: 1\~~f.1'..ry III orof!'or that it may ,,'.hdly liIfld t€giill!y ~1.If;' full-ptild liind r.(\n.
u.."."e~Ue >1\.<Ah'$ ~.f "ud, L(IiIllIHH\ St<X'k fit such ad)UlItt..o ('on\ cr'JIOH pnc1;',
8 Any ~lull\'s d lb' Prdt'ne-t.1 Stvdl. whKh ~II have h...'i!!\ CiYlV~rh....l lilt',) CV!HrnQf\ Stodr. III itC--
cor.lilllC'(' Wllh the l'luvliwni of See-lion 7 or red"m~! or utht:fWIs.e lil.c\iUa~ ~h...li be Cillllt~tif1'd iJ,.nd
not ft'L~Ued t
9 On January 1. 11)1;2 the (Olp"! .1\1011 !s114tll P.....'lUifi,' hy r.....\.kmpt"'n Ilny ~h&re:' of P~{ent"d St(X'k
l.)u~\dndl!\K Oil that datI? The con3-1deratlon \......yablt' to the h,>ldt>r of ",..eh shaH' of tM Prderr~ Sttx!o.
up-ur. l;uo:h n'i.!eli\\J1101I ~hilll (X)IUL'lt oi (I) ,ash lfl an ili1\uunl e.qual to the IH;,crut"<.l and unp.aid (hvidt"rl-tll
upon iuch !ohar'\! 01 Pn.-ierre..l Stock plus (II) Ih~ numbe, 91 J>hau's vi Cllllilllon Stoc,k to which :;uch f;i}\<\.
er would ha..'e b('-('n enUtlc'd \{) f\'<<i\'t! upon the 'liolunt..ry COII\Tt!lIOn of ~uch ~han' l..,f P~f...rr1."d St(>ck
Imm\.,<,illltJ:i)' pllLlr to tht.. rl(.~ of bu~IO~'1 on De~mbH :n, 19S1 Such n-dt'll\ptiol\ ..hall hoe ~ft<<"ted undt>r
Section ~ he~.>f.
10 lr-. \ht' e\,{!ut of un.... hq~lI,jatlOn, dl\>3olubJI\ or Wlndllli<: up ollh~ ilflllln Ilf the <-ot-pOraOon, then,
bt'for-e (Hi)! dlstributlQIl or J,.aymen\ ~hall 00 nliil<le to itw holder., of liny oliwr cla.!'.... of ~t.l('k of the Ci.>r.
porauon, lht' holdl'h of tl'H~ Pr'(>f~trt,,<1 Slock llhaU l~ .,nllth..J t" lx, p<lId 11\ l'il..d\ III ftlll, ill the- ~vt"nt of
Ii voluntary hqUldiltlOli. OL'\solutwo or wlndllljol. IJp. tll\.' ,>\ITn of s.zt;~() ~r share, Of, in the event of an
Hwolunt...:'y !tqU,diltiUll, (h~~olutioll (,r wmdmg up, the s\lm In nun of $2500 per !!hA~, Viti'! in each
ca.~ a !'iUil'l In rash ("qual to iHxr\.leJ Illld unpaId dlvidemh thN'/;'On to the daJf',of JHi)'mf!nt the~~f Aft~r
!Such i,aYllH'nt ~h..1l hav(' ht't'11 madl: 111 full tf> the h"ldt'r'i of Prdt'rrN St~>l~k, the remainder of such u..
5l.o'l\ and {und" s.hal! \)(" (hsltihule<! anFmg the holdf.'n oj tht> ..tvc~~ of the L'Orporatlorr ranking jun.lor
to th~' Prdt>trt-d Stock ucc()rdlTl~ tl) their ft"5}'.('cH\'e J1Kh\s,
11 So long tiS itny 5-hine;; of l'rE:krfl.'d Sto<:k art' Il\Jhti:tndl!lg tiw c-orporatinn ~hli1i ooL WlthUut the
COr\.s.t'nt of the holder;; (It at ll';ut ~wirt.h(fd~ 01 th~ nu:nl...,t o{ ~,halt''J of Pteh:rred Sto(.k at the tU1\E: oul-
l)l.rlndUijoi. KIVCll In r.o:1wn or hy pr<Jxy. t'llhcr in writmg lir by \-',-l\l' ~t Ii ll1~tlng called for the purt-'o~e:
(il) !>cll, lea..~. lttll\Sff'f, c'Qrwey or oth~rw~s.e di.5pt.~ of all o. &\.t3St.ant14Hy all of ine gt4:'\ !(athedttg
i'..!..wt:'i prior to Janu"t)' 2, 1982 unlf'SS
(i) ~l! or ~ub~~nlii:llly all of $\I(h g"," ~i<th\'nng as..'<{.t,~ ar" s-<:.>ld. lei>~-d. lr~ii'"feftt',d. ('OlweYf.'\.1
or othefWLSe du,pc1>M-q of Ii." !4 unit in ..me tuuuath"n. provH.ie<.1 nothill& h~r-el!i "hail pN!Vt'lit tht'
sale or other dlsposllion (,f any i!QrtlOH of the glOs >:..tiwnn.; ll,,,,,..vb. which Deei.H.lIe of N'pu('em~nt,
o\,~l)I\':;.c('rK~ or ott-~rw\5oe, Is (,0 longer t~.tuirrd fur the Opf:tatlOlU ol thl:" R~ jital.iu!ring ~~u; and
(II) ~ a conditIon pr~"t'de<lt to and a... it }>Mt o! Qny ~u(:h !klle. !t'ih'.', tranJf~r. conveYQilC" Qr
oth~r dIsposition, ine c-orporation ;;ndor th~ penon nClpllflng !ouch ~a.~ g..tht'ring ~11l or the UM
thfr('of ~hllll depn,'!it in tn,st for the lH:('(JU!I\ of the hoiclcrs of lh~ f;uutandlng Pfdo!r~d Slock, with
thi.' 1I1'>rW:m GUi\IClhty Tfu~t CQ:n~ny of New York, New York, New York, 01" its lHlcc~r, ..11 or
!>uch \x>filon of the prOl.t"Nl!l. of 1;lj{h Ml~, !!1'aM', lrQrl.ilt;r. COI1\'cy",nc-€ or uther I.hsJxm!tlOn &.:i m~y boI.!
n<<~~ry (A) rither (x) to redt'em aU lHlutandlng ~ill~$ of Prefaf'<<l StO':k ~t the ih~n applki!.bl~
vol\ll\tarj redli'mpliOn price of the Prefen07d StoCk. or (y} If v~luntiHY rNemptlon of lh~ P{.",f~rred
St.x-k i.. n"l }><'nnllH-d at the tim~ ,}f suth ~k, IeM\!, tril.l"f.a, (-OTiv{':;ali('C or (ither (hsr"\.~ition pur.
SUlint \0 th~ prnVi!Wi\.'> of ~t:on 5 of thL.. Pitrl A, to fedc-cm alll}t!ut~ndln~ "h..lt-'" of Pr('i\'ul:'u Sw,ck
at a ptict' of $35,00 rot:r !harc phu $i('('JuE?d and uq'>lI.J (\lvdcnd$, or (H) if the !'nUTI.' iIHX~d~ of 1;\Kh
~Ie, le:-...4', trid.....!...r, cOn\'eyt.t'lc-e or dher d\!ij);,..\tlOI\ "h>l,1\ l~ !r}';Ufndf'llt to l'...det'm aU of the Qut,
sI3l\d:r.g Prdcrn"-d Stock at the IlppllCal>!;~ H...aeowt!on price ht'f1'inalx..vc,: in thjg ~cti()i1 11 (~) (Ii)
!;f't forth, to .t:-Jee-m IlH of ih~ ()tlbtandl!l~ Pr-d<'HE'd St,x-k..t It pnc~ I*f 1}!une ('(1Ui\llo the ljuoHt'nt
ob!a\Jl~ by dividing tlit' ",mount of tnt'! "n\lI~ prOC'C~h of sud, sate, IcLl..'U', tnm"ier. (<)!ll,'eyanee or
o!hH (h~lx-,s:twn hy Ih.' num\:..er of i>har~ of P.'E'ii'rrtd St.xk ouL..tandllig at tht' tlfl'~e of such di;;p()ji.
bon, t~t'tht't wlth in~vO('~bi~ wri\l~n in-,lruetl.!)!:]l ttuthori1.lf1g llaid tW;it c'Ornpany, on hehalf of And
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