upr000196 186

? Quorum Adjourn­ment Chairman o f Meet­ings and the attendance o f any D ire c to r at a s p e c ia l m eeting s h a ll c o n s titu te a w aive r by h i * o f c a l l and n o tic e th e re o f and a consent to the h o ld in g o f said m eeting and the tra n sa c tio n o f any c o rp o ra te b u sin ess th e re a t. A l l re g u la r m eetings o f the Board o f D ir e c t o r s s h a l l he h e ld at the ge n e ra l o f f i e a o f the Company in the & ty o f Los A n geles. State o f C a lif o r n ia . S p ecial m eetings o f the Board o f D ir e c t o r s may he h e ld a t the o f f i c e o f the Company a t Dos A n g e le s, C a lifo r n ia , o r at the o f f i c e o f the Company in the Town o f Las Vegas, County o f d a r k , 8 ta te o f Nevada. Section 3. A m a jo rity o f the d ir e c t o r s in o f f i c e s h a ll c o n s titu te a quorum a t a l l m eetings o f the Board. I f a quorum be not p resen t at any m eeting, a m a jo rity o f the d ir e c t o r s presen t may adjourn the meeting u n t i l a l a t e r day o r hour, and a minute o f suoh adjournment s h a ll he entered on the rec o rd s by the s e c re ta ry . S eo tio a 4. The Chairman o f the Exeoutive Cbmmittee s h a ll p re s id e a t a l l m eetings o f the Board o f D ire c to rs at which he be p re se n t, and in the absence o f the Chairman the Board appoin t one o f t h e i r number to p re s id e , ARTICLE I I I Number, Tenure and Powers Meetings Vacancies Executive Committee s e o tio a 1. The Board o f D ir e c t o r * shal l e le c t from t h e ir number a t the f i r s t m asting o f the Board a f t e r the annual e le c ­tio n . o r a s soon t h e r e a ft e r a s p o e s ib le , an Executive Cbmmittee o f t&ree members, in c lu d in g a chairman to be e le c te d by the Board whose terms o f © f f io s s h a ll continue d u rin g the p le a s u re o f the Board. The E xecutive Committee s h a ll, when the Board o f D ire c to rs i s not in s e s s io n , have a l l the powers o f the Board o f D ire c to rs to manage and d ir e c t a l l the Business and a f f a i r s o f the Company, in suoh manner a s s a id (bmmittse s h a ll deem b e st f o r the Company, e in t e r e s t s , in a l l oases in which s p e c ifle d ir e c t io n s s h a ll not bags been given by r e . The COwsittee s h a ll keep a f u l l and accurate rec o rd o f a l l i t s a c t s and proceed in gs and rep o rt the safe* from tim e to time to the Board. S eo tio a 3. R egu lar m eetings o f the E xecutive Committee s h a ll be h e ld at such tim es and a t suoh p la c e s in the C ity o f Los Angeles. State o f C a lifo r n ia , o r elsew here, a s the Committee s h a llf r o m time to time determ ine. S p ec ial m eetings may be c a lle d at any time by th e Chairman and s h a ll be c a lle d a t the request o f any member o f ths S sa a ltts o , to convene at suck time and p la c e as may be appoin ted. Section 3. Any vacancy in the Committee s h a ll be f i l l e d by the Board o f D ire c to rs . a* 3 ts>