Name of Corporation                ProCentury Corporation

                                   ------------------------------------------------------------------------------------------------

 

Charter Number                     1170133

                                   -------------------------------------------------------

 

Name of Officer                    Edward F. Feighan

                                   -------------------------------------------------------

 

Title                              President

                                   -------------------------------------------------------

 

[X]  Please check if additional provisions attached.

 

The above named Ohio corporation, does hereby certify that:

 

[ ]  A meeting of the              [ ]  shareholders          [ ]  members was duly called and held on

                                                                                                         --------------------------

                                                                                                                  (Date)

 

at which meeting a quorum was present in person or by proxy, based upon the quorum present, an affirmative vote was cast which

entitled them to exercise                 % as the voting power of the corporation.

                          ----------------

 

 

[X]  In a writing signed by all of the [X] shareholders [ ] members who would be entitled to the notice of a meeting or such other

proportion not less than a majority as the articles of regulations or bylaws permit.

 

Resolved, that the following amended articles of incorporations be and the same are hereby adopted to supercede and take the place

of the existing articles of incorporation and all amendments thereto.

 

FIRST:       The name of the corporation is:         ProCentury Corporation

                                                     ------------------------------------------------------------------------------

 

SECOND:      The place in the State of Ohio where its principal office is located is in the City of:

 

             Westerville                                                           Delaware

             ---------------------------------------------------------  ---------------------------------

             (city, village or township)                                           (county)

 

THIRD:       The purposes of the corporation are as follows:

 

                -------------------------------------------------------------------------------------------------------------------

                To engage in any lawful act, activity or business not contrary to and for which a Corporation may be formed under

                the laws of the State of Ohio, and to have and exercise all powers, rights and privileges conferred by the laws of

                Ohio on corporations, including, but not limited to, buying, leasing or otherwise acquiring and holding, using or

                otherwise enjoying and selling, leasing or otherwise disposing of any interest in any property, real or personal,

                of whatever nature and wheresoever situated, and buying and selling stocks, bonds, or any other security of any

                issuer as the Corporation by action of its Board of Directors may, at any time and from time to time, deem

                advisable.

 

                -------------------------------------------------------------------------------------------------------------------

 

 

FOURTH:      The number of shares which the corporation is authorized to have outstanding is:                    21,000,000

                                                                                                        ---------------------------

                   (DOES NOT APPLY TO BOX (2))

 

 

 

                                   -------------------------------------------------------         --------------------------------

 

   REQUIRED                        /s/ Edward F. Feighan                                           4-21-2004

Must be authenticated              -------------------------------------------------------         --------------------------------

(SIGNED) by an authorized          Authorized Representative                                       Date

representative                     Edward F. Feighan, President

        (SEE INSTRUCTIONS)

 

                                   -------------------------------------------------------         --------------------------------

 

 

                                   -------------------------------------------------------         --------------------------------

                                   Authorized Representative                                       Date

 

 

 

                                   -------------------------------------------------------         --------------------------------

 

 

                                   -------------------------------------------------------         --------------------------------

                                   Authorized Representative                                       Date

Last Revised: May 2002

 

 

                              ADDITIONAL PROVISIONS

                                     TO THE

                              AMENDED AND RESTATED

                            ARTICLES OF INCORPORATION

                                       OF

                             PROCENTURY CORPORATION

 

Fourth Article (continued)

 

4.    CAPITAL STOCK          I.       CAPITAL STOCK.  The total number of

      -------------                   shares which the Corporation shall have

      (CONTINUED)                     authority to issue is Twenty One Million

      -----------                     (21,000,000) shares, of which Twenty

                                      Million (20,000,000), each without par

                                      value, shall be of a class designated

                                      "Common Shares", and One Million

                                      (1,000,000), each without par value, shall

                                      be of a class designated "Preferred

                                      Shares".

 

                             II.      PREFERRED SHARES. The Board of Directors

                                      is authorized to provide for the issuance

                                      from time to time in one or more series of

                                      any number of authorized and unissued

                                      Preferred Shares. Subject to the

                                      provisions of this ARTICLE 4 and the

                                      limitations prescribed by law, the Board

                                      of Directors is expressly authorized to

                                      adopt amendments to these Amended and

                                      Restated Articles of Incorporation in

                                      respect of any unissued or treasury

                                      Preferred Shares and thereby establish or

                                      change the number of shares to be included

                                      in each such series and fix the

                                      designation and relative rights,

                                      preferences, qualifications and

                                      limitations or restrictions of the shares

                                      of each such series. The authority of the

                                      Board of Directors with respect to each

                                      series shall include, but not be limited

                                      to, determination of the following:

 

 

                                           A. The distinguishing designation of

                                      such series and the number of shares which

                                      shall constitute such series;

 

 

                                           B. The rate or rates of dividends

                                      payable on shares of such series, the

                                      conditions upon which such dividends shall

                                      be payable (including whether they shall

                                      by payable in preference to, or in another

                                      relation to, the dividends payable on any

                                      other class or classes or series of

                                      shares) and the date from which dividends

                                      shall be cumulative in the event the Board

                                      of Directors determines that dividends

                                      shall be cumulative;

 

                                           C. Whether such series shall have

                                      conversion privileges and, if so, the

                                      terms and conditions of such conversion,

                                      including but not limited to, provision

                                      for adjustment of the

                                      conversion rate upon such events and in

                                      such manner as the Board of Directors

                                      shall determine;

 

                                           D. Whether or not the shares of such

                                      series shall be redeemable and, if so, the

                                      terms and conditions of such redemption,

                                      including the date or dates upon or after

                                      which they shall be redeemable, and the

                                      amount per share payable in case of

                                      redemption, which amount may vary under

                                      different conditions and at different

                                      redemption dates;

 

                                           E. Whether such series shall have a

                                      sinking fund for the redemption or

                                      purchase of shares of that series and, if

                                      so, the terms and amounts of such sinking

                                      fund;

 

 

                                           F. The rights of the shares of such

                                      series in the event of voluntary or

                                      involuntary liquidation, dissolution or

                                      winding up of the Corporation, and the

                                      relative rights of priority, if any, of

                                      payment in respect of shares of that

                                      series;

 

 

                                           G. Voting rights, if any, associated

                                      with the series, which may be full,

                                      limited or denied, except as otherwise

                                      required by law; and

 

 

                                           H. Any other relative rights,

                                      preferences and limitations of such series

                                      which shall not be inconsistent with this

                                      ARTICLE 4.

 

 

                             III.     COMMON SHARES. The Board of Directors of

                                      the Corporation is authorized, subject to

                                      limitations prescribed by law and the

                                      provisions of this ARTICLE 4, to provide

                                      for the issuance from time to time of any

                                      number of authorized and unissued Common

                                      Shares, and shall determine the terms

                                      under which and the consideration for

                                      which the Corporation shall issue its

                                      Common Shares.

 

 

                                           A. Subject to the provisions of any

                                      applicable law, at every meeting of the

                                      shareholders, each holder of Common Shares

                                      shall be entitled to one vote, in person

                                      or by proxy, for each Common Share

                                      standing in the name of such shareholder

                                      on the books of the Corporation, on each

                                      matter on which the Common Shares are

                                      entitled to vote.

 

                                           B. Subject to the rights of holders

                                      of the Preferred Shares, the holders of

                                      the Common Shares shall be entitled to

                                      receive, when and as declared by the Board

                                      of Directors, out of the assets of the

                                      Corporation which are by law available

                                      therefor, dividends payable in cash, in

                                      property, or in shares and the holders of

                                      the Preferred Shares shall

                                      not be entitled to participate in any such

                                      dividends (unless otherwise provided by

                                      the Board of Directors in any resolution

                                      providing for the issue of a series of

                                      Preferred Shares).

 

                                           C. In the event of any dissolution,

                                      liquidation or winding up of the affairs

                                      of the Corporation either voluntarily or

                                      involuntarily, the holders of the Common

                                      Shares shall be entitled, after payment or

                                      provision for payment in full of the debts

                                      and other liabilities of the Corporation

                                      and the amounts to which the holders of

                                      the Preferred Shares shall be entitled, to

                                      share ratably in the remaining assets of

                                      the Corporation available for distribution

                                      to its shareholders to the exclusion of

                                      the Preferred Shares (unless otherwise

                                      provided by the Board of Directors in any

                                      resolution providing for the issue of a

                                      series of Preferred Shares). Neither the

                                      merger or consolidation of the

                                      Corporation, nor the sale, lease or

                                      conveyance of all or part of its assets,

                                      shall be deemed to be a liquidation,

                                      dissolution or winding up of the affairs

                                      of the Corporation within the meaning of

                                      this Subparagraph III(C).

 

                             IV.      NO PREEMPTIVE RIGHTS. No holder of shares

                                      of this Corporation of any class shall

                                      have, as such, as a matter of right, the

                                      preemptive right to subscribe for or

                                      purchase any part of any new or additional

                                      issue of shares of any class whatsoever,

                                      or of securities or other obligations

                                      convertible into or exchangeable for any

                                      shares of any class whatsoever or which by

                                      warrants or otherwise entitle the holders

                                      thereof to subscribe for or purchase any

                                      shares of any class whatsoever, which now

                                      or hereafter authorized and whether issued

                                      for cash or other consideration or by way

                                      of dividend.

 

 

                             V.       CONVERSION AND EXCHANGE OF PREVIOUSLY

                                      AUTHORIZED COMMON SHARES. Each Class A

                                      Common Share, Class B Common Share and

                                      Class C Common Share of the Corporation

                                      outstanding immediately prior to the

                                      effectiveness of these Amended and

                                      Restated Articles of Incorporation shall

                                      automatically and without further act or

                                      deed be converted into and exchanged for

                                      five hundred (500) Common Shares of the

                                      Corporation, rounded down to the nearest

                                      whole number to avoid the issuance of any

                                      fractional Common Shares, upon the

                                      effectiveness of these Amended and

                                      Restated Articles of Incorporation.

 

5.    CERTAIN                No person shall be disqualified from being a

      -------                director of the Corporation because he or she is

      TRANSACTIONS           or may be a party to, and no director of the

      ------------           Corporation shall be disqualified from entering

                             into,any contract or other transaction to which the

                             Corporation is or may be a party. No contract or

                             other transaction shall be void or voidable for

                             reason that any director or officer or other agent

                             of the Corporation is a party thereto, or otherwise

                             has any direct or indirect interest in such

                             contract or transaction or in any other party

                             thereto, or for reason that any interested director

                             or officer or other agent of the Corporation

                             authorizes or participates in authorization of such

                             contract or transaction, (a) if the material facts

                             as to such interest are disclosed or are otherwise

                             known to the Board of Directors or applicable

                             committee of directors at the time the contract or

                             transaction is authorized, and at least a majority

                             of the disinterested directors or disinterested

                             members of the committee vote for or otherwise take

                             action authorizing such contract or transaction,

                             even though such disinterested directors or members

                             are less than a quorum, or (b) if the contract or

                             transaction (i) is not less favorable to the

                             Corporation than an arm's length contract or

                             transaction in which no director or officer or

                             other agent of the Corporation has any interest or

                             (ii) is otherwise fair to the Corporation as of the

                             time it is authorized. Any interested director may

                             be counted in determining the presence of a quorum

                             at any meeting of the Board of Directors or any

                             committee thereof which authorizes the contract or

                             transaction.

 

6.    AUTHORITY TO           The Directors of the Corporation shall have the

      ------------           power to cause the Corporation from time to time

      REPURCHASE             and at any time to purchase, hold, sell, transfer

      ----------             or otherwise deal with (a) shares of any class or

      STOCK                  series issued by it, (b) any security or other

      -----                  obligation of the Corporation which may confer upon

                             the holder thereof the right to convert the same

                             into shares of any class or series authorized by

                             the articles of the Corporation, and (c) any

                             security or other obligation which may confer upon

                             the holder thereof the right to purchase shares of

                             any class or series authorized by the articles of

                             the Corporation. The Corporation shall have the

                             right to repurchase, if and when any shareholder

                             desires to sell, or on the happening of any event

                             is required to sell, shares of any class or series

                             issued by the Corporation. The authority granted in

                             this ARTICLE 6 of these Amended and Restated

                             Articles of Incorporation shall not limit the

                             plenary authority of the directors to purchase,

                             hold, sell, transfer or otherwise deal with shares

                             of any class or series, securities or other

                             obligations issued by the Corporation or authorized

                             by its articles.

 

7.    CH. 1704               Chapter 1704 of the Ohio Revised Code shall not

      --------               apply to the Corporation.

 

8.    DIRECTORS;             All of the authority of the Corporation shall be

      ----------             exercised by or under the direction of the Board

      SHAREHOLDERS           of Directors except as otherwise provided in these

      ------------           Amended and Restated Articles of Incorporation

                             or the Code of Regulations of the Corporation or

                             required by law. For the management of the business

                             and for the conduct of the affairs of the

                             Corporation and in further creation, definition,

                             limitation and regulation of the power of the

                             Corporation and of its directors and of its

                             shareholders, it is further provided as follows:

 

                             I.       CLASSIFIED BOARD. Subject to the rights of

                                      the holders of any class or series of

                                      shares of the Corporation having a

                                      preference over the Common Shares as to

                                      dividends or upon liquidation to elect

                                      additional directors under specific

                                      circumstances, the number of directors of

                                      the Corporation shall be fixed from time

                                      to time by or in accordance with the

                                      provisions of the Code of Regulations of

                                      the Corporation. The directors, other than

                                      those who may be elected by the holders of

                                      any class or series of shares of capital

                                      stock having preference over the Common

                                      Shares as to dividends or upon

                                      liquidation, shall be classified, with

                                      respect to the time for which they

                                      severally hold office, into three classes,

                                      as nearly equal in number as possible, as

                                      shall be provided in the manner specified

                                      in the Code of Regulations of the

                                      Corporation, one class to hold office

                                      initially for a term expiring at the

                                      annual meeting of shareholders to be held

                                      in 2005, another class to hold office

                                      initially for a term expiring at the

                                      annual meeting of shareholders to be held

                                      in 2006, and another class to hold office

                                      initially for a term expiring at the

                                      annual meeting of shareholders to be held

                                      in 2007, with the members of each class to

                                      hold office until their successors are

                                      duly elected and qualified. At each annual

                                      meeting of the shareholders of the

                                      Corporation. the successors to the class

                                      of directors whose term expires at that

                                      meeting shall be elected to hold office

                                      for a term expiring at the annual meeting

                                      of shareholders held in the third year

                                      following the year of their election.

 

 

                             II.      NOTICE. Advance notice of nominations for

                                      the election of directors, or of proposals

                                      to be brought before a meeting of

                                      shareholders, other than nominations or

                                      proposals made by the Board of Directors

                                      or a committee thereof, shall be given in

                                      the manner provided in the Code of

                                      Regulations of the Corporation.

 

 

                             III.     FILLING VACANCY. Subject to the right of

                                      the shareholders to fill a vacancy caused

                                      by the removal of a director at the same

                                      meeting at which the removal occurs, and

                                      subject further to the rights of the

                                      holders of any class or series of shares

                                      of capital stock of the Corporation having

                                      a preference over the Common Shares as to

                                      dividends or upon liquidation to elect

                                      directors under specified circumstances,

                                      newly created directorships resulting from

                                      any increase in the number of directors

                                      and any vacancies on the Board of

                                      Directors resulting from death,

                                      resignation, disqualification, removal or

                                      other cause may be filled by the

                                      affirmative vote of a majority of the

                                      remaining directors then in office, even

                                      though less than a quorum of the Board of

                                      Directors. Any director elected in

                                      accordance with the preceding sentence

                                      shall hold office for the remainder of the

                                      full term of the class of directors in

                                      which the new directorship was created or

                                      the vacancy occurred and until such

                                      directors successor shall have been

                                      elected and qualified. No reduction in the

                                      number of directors constituting the Board

                                      of Directors shall shorten the term of any

                                      incumbent director.

 

 

                             IV.      REMOVAL. Subject to the rights of the

                                      holders of any class or series of shares

                                      of capital stock of the Corporation having

                                      a preference over the Common Shares as to

                                      dividends or upon liquidation to elect

                                      directors under specified circumstances, a

                                      director, or the entire Board of

                                      Directors, may be removed from office,

                                      with cause, but only by the affirmative

                                      vote of the holders of record of

                                      outstanding shares representing at least

                                      75% of the votes entitled to be cast by

                                      the holders of all then outstanding shares

                                      of Voting Stock (as defined in ARTICLE 9

                                      hereof), voting together as a single

                                      class, and entitled to vote in respect

                                      thereof. Any vacancy in the Board of

                                      Directors caused by any removal may be

                                      filled by the shareholders at the same

                                      meeting.

 

9.    SUPER-MAJORITY         I.       Capitalized terms used herein are defined

      --------------                  in Paragraph IV of this ARTICLE 9.

      VOTE FOR

      --------

      MAJOR

      -----

      TRANSACTIONS

      ------------

                             II.      In addition to any affirmative vote

                                      required by law or under any other

                                      provision of these Amended and Restated

                                      Articles of Incorporation or the Code of

                                      Regulations of the Corporation or

                                      otherwise, and except as otherwise

                                      expressly provided in this ARTICLE 9:

 

                                           A. Any merger or consolidation of

                                      this Corporation or any Subsidiary with or

                                      into (i) any Substantial Shareholder or

                                      (ii) any other Corporation (whether or not

                                      itself a Substantial Shareholder) which,

                                      after such merger or consolidation, would

                                      be an Affiliate of a Substantial

                                      Shareholder, or

 

                                           B. Any sale, lease, exchange,

                                      mortgage, pledge, transfer

                                      or other disposition (in one transaction

                                      or a series of related transactions) to or

                                      with any Substantial Shareholder of any

                                      Substantial Part of the assets of this

                                      Corporation or of any Subsidiary, or

 

 

                                           C. The issuance or transfer by this

                                      Corporation or by any Subsidiary (in one

                                      transaction or a series of related

                                      transactions) of any Equity Securities of

                                      this Corporation or any Subsidiary to any

                                      Substantial Shareholder in exchange for

                                      cash, securities or other property (or a

                                      combination thereof) having an aggregate

                                      fair market value in excess of an amount

                                      equal to five percent (5%) of the book

                                      value of the Corporation, as determined in

                                      accordance with generally accepted

                                      accounting principles, as of the end of

                                      the immediately preceding fiscal year, or

 

                                           D. The adoption of any plan or

                                      proposal for the liquidation or

                                      dissolution of this Corporation if, as of

                                      the record date for the determination of

                                      shareholders entitled to notice thereof

                                      and to vote thereon, any person shall be a

                                      Substantial Shareholder, or

 

 

                                           E. Any reclassification of securities

                                      (including any reverse stock split) or

                                      recapitalization of this Corporation, or

                                      any reorganization, merger or

                                      consolidation of this Corporation with any

                                      of its Subsidiaries or any similar

                                      transaction (whether or not with or into

                                      or otherwise involving a Substantial

                                      Shareholder) which has the effect,

                                      directly or indirectly, of increasing the

                                      proportionate share of the outstanding

                                      securities of any class of Equity

                                      Securities of this Corporation or any

                                      Subsidiary which is directly or indirectly

                                      Beneficially Owned by any Substantial

                                      Shareholder, shall (except as otherwise

                                      expressly provided in these Amended and

                                      Restated Articles of Incorporation)

                                      require the affirmative vote of the

                                      holders of not less than 75% of the Votes

                                      entitled to be cast by all holders of all

                                      then outstanding shares of Voting Stock;

                                      provided that such affirmative vote must

                                      include the affirmative vote of the

                                      holders of shares of Voting Stock entitled

                                      to cast a majority of the votes entitled

                                      to be cast by the holders of all then

                                      outstanding shares of Voting Stock not

                                      beneficially owned by the Substantial

                                      Shareholder in question. Each such

                                      affirmative vote shall be required

                                      notwithstanding the fact that no vote may

                                      be required, or that some lesser

                                      percentage may be specified, by law or in

                                      any agreement with The NASDAQ Stock Market

                                      or any national securities exchange or

                                      otherwise.

 

                             III.     The provisions of this ARTICLE 9 shall not

                                      be applicable to any Business Combination,

                                      the terms of which shall be approved,

                                      either in advance of or subsequent to a

                                      Substantial Shareholder having become a

                                      Substantial Shareholder, by three-fourths

                                      (3/4) of the Whole Board, but only if a

                                      majority of the members of the Board of

                                      Directors in office and acting upon such

                                      matter shall be Continuing Directors.

 

                             IV.      For the purpose of this ARTICLE 9:

 

 

                                           A. A "Person" shall mean any

                                      individual, firm, Corporation or other

                                      entity.

 

 

                                           B. The term "Business Combination" as

                                      used in this ARTICLE 9 shall mean any

                                      transaction which is described in any one

                                      or more of Subparagraphs (A) through (E)

                                      of Paragraph II of this ARTICLE 9.

 

                                           C. "Substantial Shareholder" shall

                                      mean any Person who or which, as of the

                                      record date for the determination of

                                      shareholders entitled to notice of and to

                                      vote on any Business Combination, or

                                      immediately prior to the consummation of

                                      any such Business Combination:

 

                                                (1) Is the Beneficial Owner,

                                      directly or indirectly, of more than

                                      fifteen percent (15%) of the shares of

                                      Voting Stock (determined solely on the

                                      basis of the total number of shares of

                                      Voting Stock so Beneficially Owned (and

                                      without giving effect to the number or

                                      percentage of votes entitled to be cast in

                                      respect of such shares) in relation to the

                                      total number of shares of Voting Stock

                                      then issued and outstanding), or

 

                                                (2) Is an Affiliate of this

                                      Corporation and at any time within three

                                      years prior thereto was the Beneficial

                                      Owner, directly or indirectly, of more

                                      than fifteen percent (15%) of the then

                                      outstanding Voting Stock (determined as

                                      aforesaid), or

 

                                                (3) Is an assignee of or has

                                      otherwise succeeded to any shares of this

                                      Corporation which were at any time within

                                      three years prior thereto Beneficially

                                      Owned by any Substantial Shareholder, and

                                      such assignment or succession shall have

                                      occurred in the course of a transaction or

                                      series of transactions not involving a

                                      public offering within the meaning of the

                                      Securities Act of 1933, as amended.

 

                                      Notwithstanding the foregoing, a

                                      Substantial Shareholder shall not include

                                      (i) this Corporation or any Subsidiary, or

                                      (ii) any profit-sharing, employee stock

                                      ownership or other employee benefit plan

                                      of this Corporation or any Subsidiary or

                                      any trustee of or fiduciary with respect

                                      to any such plan when acting in such

                                      capacity.

 

                                           D. "Beneficial Ownership" shall be

                                      determined pursuant to Rule 13d-3 of the

                                      General Rules and Regulations under the

                                      Securities Exchange Act of 1934, as

                                      amended (or any successor rule or

                                      statutory provision) or, if said Rule

                                      13d-3 shall be rescinded and there shall

                                      be no successor rule or statutory

                                      provision thereto, pursuant to said Rule

                                      13d-3 as in effect on December 31, 2003;

                                      provided, however, that a Person shall, in

                                      any event, also be deemed to be the

                                      "Beneficial Owner" of any shares of Voting

                                      Stock:

 

                                                (1) Which such Person or any of

                                      its Affiliates or Associates beneficially

                                      own, directly or indirectly, or

 

 

                                                (2) Which such Person or any of

                                      its Affiliates or Associates has (i) the

                                      right to acquire (whether such right is

                                      exercisable immediately or only after the

                                      passage of time), pursuant to any

                                      agreement, arrangement or understanding

                                      (but shall not be deemed to be the

                                      beneficial owner of any shares of Voting

                                      Stock solely by reason of an agreement,

                                      arrangement or understanding with this

                                      Corporation to effect a Business

                                      Combination or upon the exercise of

                                      conversion rights, exchange rights,

                                      warrants, or options, or otherwise, or

                                      (ii) sole or shared voting or investment

                                      power with respect thereto pursuant to any

                                      agreement, arrangement, understanding,

                                      relationship or otherwise (but shall not

                                      be deemed to be the beneficial owner of

                                      any shares of Voting Stock solely by

                                      reason of a revocable proxy granted for a

                                      particular meeting of shareholders,

                                      pursuant to a public solicitation of

                                      proxies for such meeting, with respect to

                                      shares of which neither such Person nor

                                      any such Affiliate or Associate is

                                      otherwise deemed the beneficial owner), or

 

                                                (3) Which are beneficially

                                      owned, directly or indirectly, by any

                                      other Person with which such first

                                      mentioned Person or any of its Affiliates

                                      or Associates acts as a partnership,

                                      limited partnership, syndicate or other

                                      group pursuant to any agreement,

                                      arrangement or understanding for the

                                      purpose of acquiring, holding, voting or

                                      disposing of any shares of capital stock

                                      of this Corporation: and provided further,

                                      however, that (i) no

                                      director or officer of this Corporation,

                                      nor any Associate or Affiliate of any such

                                      director or officer, shall, solely by

                                      reason of any or all such directors and

                                      officers acting in their capacities as

                                      such, be deemed, for any purposes hereof,

                                      to beneficially own any shares of Voting

                                      Stock beneficially owned by any other such

                                      director or officer (or any Associate or

                                      Affiliate thereof), and (ii) no employee

                                      stock ownership or similar plan of this

                                      Corporation or any Subsidiary nor any

                                      trustee with respect thereto, nor any

                                      Associate or Affiliate of any such

                                      trustee, shall, solely by reason of such

                                      capacity of such trustee, be deemed for

                                      any purposes hereof, to beneficially own

                                      any shares of Voting Stock held under any

                                      such plan.

 

                                           E. For purposes of computing the

                                      percentage Beneficial Ownership of shares

                                      of Voting Stock of a Person in order to

                                      determine whether such Person is a

                                      Substantial Shareholder, the outstanding

                                      shares of Voting Stock shall include

                                      shares deemed owned by such Person through

                                      application of Subparagraph (D) of this

                                      Paragraph IV but shall not include any

                                      other shares of Voting Stock which may be

                                      issuable by this Corporation pursuant to

                                      any agreement, or upon the exercise of

                                      conversion rights, warrants or options, or

                                      otherwise. For all other purposes, the

                                      outstanding shares of Voting Stock shall

                                      include only shares of Voting Stock then

                                      outstanding and shall not include any

                                      shares of Voting Stock which may be

                                      issuable by this Corporation pursuant to

                                      any agreement, or upon the exercise of

                                      conversion rights, warrants or options, or

                                      otherwise.

 

                                           F. "Continuing Director" shall mean

                                      any member of the Board of Directors of

                                      the Corporation who is unaffiliated with

                                      the Substantial Shareholder and was a

                                      member of the Board of Directors prior to

                                      the time that the Substantial Shareholder

                                      became a Substantial Shareholder; any

                                      successor of a Continuing Director who is

                                      unaffiliated with the Substantial

                                      Shareholder and is approved to succeed a

                                      Continuing Director by the Continuing

                                      Directors; any member of the Board of

                                      Directors who is appointed to fill a

                                      vacancy on the Board of Directors who is

                                      unaffiliated with the Substantial

                                      Shareholder and is approved by the

                                      Continuing Directors.

 

                                           G. "Whole Board" shall mean the total

                                      number of directors which this Corporation

                                      would have if there were no vacancies.

 

                                           H. An "Affiliate" of a specified

                                      Person is a Person that directly, or

                                      indirectly through one or more

                                      intermediaries, controls, or is controlled

                                      by, or is under common control with, the

                                      Person specified.

 

                                           I. The term "Associate" used to

                                      indicate a relationship with any Person

                                      shall mean (i) any Corporation or

                                      organization (other than this Corporation

                                      or a Subsidiary) of which such Person is

                                      an officer or partner, or is, directly or

                                      indirectly, the beneficial owner of ten

                                      percent (10%) or more of any class of

                                      Equity Securities, (ii) any trust or other

                                      estate in which such Person has a

                                      substantial beneficial interest or as to

                                      which such Person serves as trustee or in

                                      a similar fiduciary capacity, and (iii) an

                                      relative or spouse of such Person, or any

                                      relative of such spouse, who has the same

                                      home as such Person, or is an officer or

                                      director of any Corporation controlling or

                                      controlled by such Person.

 

                                           J. "Subsidiary" shall mean any

                                      Corporation of which a majority of any

                                      class of Equity Security is owned,

                                      directly or indirectly, by this

                                      Corporation; provided, however, that, for

                                      the purposes of the definition of

                                      Substantial Shareholder set forth in

                                      Subparagraph (C) of this Paragraph IV, the

                                      term "Subsidiary" shall mean only a

                                      Corporation of which a majority of each

                                      class of Equity Security is owned,

                                      directly or indirectly, by this

                                      Corporation.

 

                                           K. "Substantial Part" shall mean

                                      assets having a book value (determined in

                                      accordance with generally accepted

                                      accounting principles) in excess of ten

                                      percent (10%) of the book value

                                      (determined in accordance with generally

                                      accepted accounting principles) of the

                                      total consolidated assets of this

                                      Corporation, at the end of its most recent

                                      fiscal year ending prior to the time the

                                      determination is made.

 

                                           L. "Voting Stock" shall mean any

                                      shares of capital stock of this

                                      Corporation entitled to vote generally in

                                      the election of directors.

 

 

                                           M. "Equity Security" shall have the

                                      meaning given to such term under Rule

                                      3a11-1 of the General Rules and

                                      Regulations under the Securities Exchange

                                      Act of 1934, as amended, as in effect on

                                      December 31, 2003.

 

                             V.       A majority of the Continuing Directors

                                      then in office shall have the power to

                                      determine for the purposes of this ARTICLE

                                      9, on the basis of information known to

                                      Them (i) the number of shares of Voting Stock

                                      Beneficially Owned by any Person, (ii)

                                      whether a Person is an Affiliate or

                                      Associate of another, (iii) whether the

                                      assets subject to any Business Combination

                                      constitute a Substantial Part of the

                                      assets of the Corporation in question,

                                      and/or (iv) any other factual matter

                                      relating to the applicability or effect of

                                      this ARTICLE 9.

 

 

                             VI.      A majority of the Continuing Directors

                                      then in office shall have the right to

                                      demand that any Person who is reasonably

                                      believed to be a Substantial Shareholder

                                      (or holder of record shares of Voting

                                      Stock Beneficially Owned by any

                                      Substantial Shareholder) supply this

                                      Corporation with complete information as

                                      to (i) the record owner(s) of all shares

                                      Beneficially Owned by such Person who is

                                      reasonably believed to be a Substantial

                                      Shareholder, (ii) the number of, and class

                                      or series of, shares Beneficially Owned by

                                      such Person who it is reasonably believed

                                      is a Substantial Shareholder and held of

                                      record by each such record owner and the

                                      number(s) of the share certificate(s)

                                      evidencing such shares, and (iii) any

                                      other factual matter relating to the

                                      applicability or effect of this ARTICLE 9,

                                      as may be reasonably requested of such

                                      Person, and such Person shall furnish such

                                      information within 10 days after receipt

                                      of such demand.

 

 

                             VII.     Any determinations made by the Board of

                                      Directors, or by the Continuing Directors,

                                      as the case may be, pursuant to this

                                      ARTICLE 9 in good faith and on the basis

                                      of such information and assistance as was

                                      then reasonably available for such purpose

                                      shall be conclusive and binding upon this

                                      Corporation and its shareholders,

                                      including any Substantial Shareholder.

 

                             VIII.    Nothing contained in this ARTICLE 9 shall

                                      be construed to relieve any Substantial

                                      Shareholder from any fiduciary obligation

                                      imposed by law.

 

10.   CONSTITUENCIES         The Board of Directors of the Corporation, when

      --------------         evaluating any offer of another party to (1) make

                             a tender or exchange offer for any Equity Security

                             of the Corporation, (2) merge or consolidate the

                             Corporation with another Corporation, or (3)

                             purchase or otherwise acquire all or substantially

                             all of the properties and assets of the

                             Corporation, may in connection with the exercise of

                             its judgment in determining what is in the best

                             interests of the Corporation and its shareholders,

                             give due consideration to all relevant factors,

                             including without limitation the social and

                             economic effects on the employees, customers,

                             suppliers and other constituents of the Corporation

                             and its subsidiaries and on the communities in

                             which the Corporation and its subsidiaries operate

                             or are located and any other factors which the

                             Board of Directors may consider under Ohio law.

 

11.   VOTE TO AMEND          I.       75% VOTE.  Notwithstanding any other

      -------------                   provisions of these Articles of

      ARTICLES                        Incorporation or the Code of Regulations

      --------                        of the Corporation (and notwithstanding

                                      the fact that a lesser percentage may be

                                      specified by law or in any agreement with

                                      The NASDAQ Stock Market or any national

                                      securities exchange or in any other

                                      provision of these Amended and Restated

                                      Articles of Incorporation or the Code of

                                      Regulations of the Corporation), the

                                      affirmative vote of the holders of at

                                      least 75% of the votes entitled to be cast

                                      by the holders of all then outstanding

                                      shares of Voting Stock (as that term is

                                      defined in ARTICLE 9 hereof), shall be

                                      required to amend, alter, change or

                                      repeal, or adopt any provisions

                                      inconsistent with, ARTICLES 8, 10, 11 or

                                      12 of these Amended and Restated Articles

                                      of Incorporation, and the affirmative vote

                                      of the holders of at least 75% of the

                                      votes entitled to be cast by the holders

                                      of all then outstanding shares of Voting

                                      Stock, including the holders of at least a

                                      majority of the votes entitled to be cast

                                      by the holders of all then outstanding

                                      shares of Voting Stock of the Corporation

                                      not beneficially owned by a Substantial

                                      Shareholder (as that term is defined in

                                      ARTICLE 9), shall be required to amend

                                      alter, change or repeal, or adopt any

                                      provision inconsistent with ARTICLE 9 of

                                      these Amended and Restated Articles of

                                      Incorporation.

 

                             II.      MAJORITY VOTE. Except as otherwise

                                      provided in these Amended and Restated

                                      Articles of Incorporation, including

                                      without limitation Paragraph I of this

                                      ARTICLE 11, the shareholders of the

                                      Corporation may, by the affirmative vote

                                      of the holders of at least a majority of

                                      the votes entitled to be cast by the

                                      holders of all then outstanding shares of

                                      the Voting Stock, amend, alter, change or

                                      repeal any provision contained in these

                                      Amended and Restated Articles of

                                      Incorporation.

 

12.   VOTE TO AMEND           I.      Except as provided in Subparagraph II

      -------------                   of this ARTICLE 12, and notwithstanding

      CODE OF REGULATIONS             any other provisions of these Amended

      -------------------             and Restated Articles of Incorporation

                                      or the Code of Regulations of the

                                      Corporation (and notwithstanding the fact

                                      that a lesser percentage may be specified

                                      by law or in any agreement with The NASDAQ

                                      Stock Market or any

                                      national securities exchange or any other

                                      provision of these Amended and Restated

                                      Articles of Incorporation or the Code of

                                      Regulations of the Corporation), the

                                      affirmative vote of the holders of at

                                      least 75% of the votes entitled to be cast

                                      by the holders of all then outstanding

                                      shares of Voting Stock (as that term is

                                      defined in ARTICLE 9 hereof), shall be

                                      required to amend, alter, change or

                                      repeal, or adopt any provisions

                                      inconsistent with, the Code of Regulations

                                      of the Corporation: provided, however,

                                      that if such amendment, alteration, change

                                      or repeal has been approved by

                                      three-fourths (3/4) of the Whole Board (as

                                      defined in ARTICLE 9 hereof), the

                                      shareholders may, by the affirmative vote

                                      of the holders of at least a majority of

                                      the votes entitled to be cast by the

                                      holders of all then outstanding shares of

                                      Voting Stock, approve such amendment,

                                      alteration, change or repeal. Any

                                      amendment to these Amended and Restated

                                      Articles of Incorporation which shall

                                      contravene the Code of Regulations in

                                      existence on the record date of the

                                      meeting of shareholders at which such

                                      amendment is to be voted upon by the

                                      shareholders, shall require the

                                      affirmative vote of the holders of at

                                      least 75% of the votes entitled to be cast

                                      by the holders of all then outstanding

                                      shares of Voting Stock; provided, however,

                                      that if such amendment has been approved

                                      by three-fourths (3/4) of the Whole Board,

                                      the shareholders may approve such

                                      amendment to these Amended and Restated

                                      Articles of Incorporation by the

                                      affirmative vote of the holders of at

                                      least a majority of the votes entitled to

                                      be cast by the holders of all then

                                      outstanding shares of Voting Stock.

 

                             II.      If and to the extent permitted by the Ohio

                                      Revised Code as the same may be amended

                                      from time to time, the Code of Regulations

                                      of the Corporation, and any provision

                                      thereof, may be amended, altered, changed

                                      or repealed by the affirmative vote of

                                      three-fourths (3/4) of the Whole Board;

                                      provided that any amendment, alteration,

                                      change or repeal which is materially

                                      prejudicial to the substantive rights of

                                      the shareholders of the Corporation (or

                                      any class of shareholders of the

                                      Corporation) may not be adopted by the

                                      directors of the Corporation pursuant to

                                      this Subsection II of ARTICLE 12. The

                                      authority granted to the directors

                                      pursuant to this Subsection II of ARTICLE

                                      12 is in addition to, and shall not

                                      abridge, the rights of the shareholders

                                      and directors of the Corporation granted

                                      pursuant to Subsection I of ARTICLE 12 of

                                      these Amended and Restated Articles of

                                      Incorporation.

 

13.   VOTING                 I.       MAJORITY VOTE.  Notwithstanding any

      ------                          provision of the Ohio Revised Code

      MATTERS                         requiring for any purpose the vote,

      -------                         consent, waiver or release of the holders

                                      of shares of the Corporation entitling

                                      them to exercise two-thirds (2/3) or any

                                      other proportion of the voting power of

                                      the Corporation or of any class or classes

                                      of shares thereof, such action may be

                                      taken by the vote, consent, waiver or

                                      release of the holders of shares entitling

                                      them to exercise not less than a majority

                                      of the voting power of the Corporation or

                                      of such class or classes, unless expressly

                                      provided otherwise by statute or in these

                                      Amended and Restated Articles of

                                      Incorporation.

 

                             II.      CUMULATIVE VOTING. Shareholders of the

                                      Corporation shall not have the right to

                                      vote cumulatively in the election of

                                      directors.

 

14.   SUPERSEDE              These Amended and Restated Articles of

      ---------              Incorporation take the place of and supersede the

                             existing Amended and Restated Articles of

                             Incorporation of the Corporation.