PARRIS N. GLENDENING, Governor                             Ch. 717

(2)     As to each class of stock, either the par value of the shares or that the
shares are without par value;

(3)     (i) That the corporation shall set apart dividends for or pay dividends
to the holders of a specified class of stock before any dividends are set apart for or paid
to the holders of another class of stock;

(ii) The rate, amount, and time of payment of the dividends; and

(iii) Whether the dividends are cumulative, cumulative to a limited
extent, or noncumulative;

(4)     That any specified class of stock is preferred over another class as to its
distributive share of the assets on voluntary or involuntary liquidation of the corporation
and the amount of the preference;

(5)     That any specified class of stock may be redeemed at the option of the
corporation or of the holders of the stock and the terms and conditions of redemption,
including the time and price of redemption;

(6)     That any specified class of stock is convertible into shares of stock of one
or more other classes and the terms and conditions of conversion;

(7)     That the holders of any specified securities issued or to be issued by the
corporation have any voting or other rights which, by law, are or may be conferred on
stockholders;

(8)     For any other preferences, rights, restrictions, including restrictions on
transferability, and qualifications not inconsistent with law;

(9)     That the board of directors may classify or reclassify any unissued stock
from time to time by setting or changing the preferences, conversion or other rights,
voting powers, restrictions, limitations as to dividends, qualifications, or terms or
conditions of redemption of the stock; [ and]

(10)   (i) For any grant to the holders of the stock of the corporation,
including a specified class or series of stock, of the preemptive right to subscribe to:

1.       Any or all additional issues of the stock; or

2.       Any securities of the corporation convertible into additional
issues of stock; or

(ii) For any definition or limitation of the preemptive rights of
stockholders to acquire additional stock or securities in the corporation; AND

(11)    FOR ANY PROVISION RESTRICTIONS ON TRANSFERABILITY FOR
ANY PURPOSE INCLUDING RESTRICTIONS DESIGNED TO PERMIT A CORPORATION
TO QUALIFY AS:

(1) A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL
REVENUE CODE OR REGULATIONS ADOPTED UNDER THE INTERNAL REVENUE
CODE: OR AS

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