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stockholders to first offer any or all of the stock of the
corporation held by such stockholder for sale to other
stockholders or per~ons or to the corporation, uncier rules and ~
regulations established in such E3y-Laws or pursuant to such
agreement, then all certificates of stock subject to such
abridgement, limitations or restrictions shall ha~e a reference
thereto endorsed thereon by an officer of the corporation, and a
copy of suci~ agreement, if any, shall be tiled at the of~ice of
~'he corporation, and such stock shall not thereafter be
.transferred on thP books of the corporation except in accordance
with the terms and provisions of any such 8y-Laws or agreement,
as the case may be.
ELEVENTH: This corporation reser~es the right to ~mend these
Articles of Incc~rporation as from time to time amended, in the
manner now or hereafter prescribed by law, and all rights
confer~red upon officers, directors and stockholders herein
granted subject to this reser~ation. ,
IN WIT~NESS WNEREUF, we hereby sign and execute these Articles
of Incorporation, in the City of Fanama, Republic of Panama, on
the 7th day oF the montl~ of O~taber, 1969.
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I (Sgd.) R.C. DURLING
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; (Sgd.) Esteban Bernal
~ This is a translation of its original. (Sgd.~ Sidney J. Wi~liams,
Public Translator, I.C. N° E-8-7163
' NATIONAL ARCHIVES OF PANAMA
This is a true copy of its original, which is euidenced in Public
Instrument No. 2054, Notary Public Number Fi~e of the Circuit af
~ Panarna, year 19b9.
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