ANNEX 1

 

 

                        AMENDED ARTICLES OF INCORPORATION

 

                                       OF

 

                           WENDY'S INTERNATIONAL, INC.

 

 

         FIRST:            The name of the corporation shall be Wendy's

                           International, Inc.

 

         SECOND:           The place in Ohio where the principal office of the

                           corporation is to be located is the Village of

                           Dublin, Franklin County, Ohio.

 

         THIRD:            The purpose or purposes for which corporation is

                           formed are:

 

                  1.       To develop, own, operate and manage business

                           enterprises of every nature and kind (including,

                           without limitation, enterprises engaged in food sales

                           and related services) and to own and license others

                           to use tradenames, trademarks, patents and similar

                           rights.

 

                  2.       To provide management, consulting and advising

                           services to business.

 

                  3.       To do any and all things related to the foregoing and

                           to engage in any other lawful act or activity for

                           which corporation may be formed under Section 1701.01

                           to 1701.98, inclusive, of the Ohio Revised Code.

 

         FOURTH:           The authorized number of shares of the corporation is

                  20,250,000 of which 20,000,000 shares shall be common shares,

                  without par value, and 250,000 shares shall be preferred

                  shares, $1.00 par value.

 

                           Each share, regardless of class, shall entitle the

                  holder thereof to one vote.

 

                           The directors of the corporation may adopt amendments

                  to the Articles in respect of any unissued or treasury shares

                  of any class and thereby fix or change: the division of such

                  shares into series and the designation and authorized number

                  of shares of each series; the dividend rate; the dates of

                  payment of dividends and the dates from which they are

                  cumulative; liquidation price; redemption rights and price;

                  sinking fund requirements; conversion rights; and restrictions

                  on the issuance of shares of any class or series.

 

         FIFTH:            No shareholder of the corporation shall have, as a

                  matter of right, the pre-emptive right to purchase or

                  subscribe for shares of any class, now or thereafter

                  authorized, or to purchase or subscribe for securities or

                  other obligations convertible into or exchangable for such

                  shares or which by warrants or otherwise entitle the holders

                  thereof to subscribe for or purchase any such shares.

<PAGE>   11

         SIXTH:            The corporation by its directors may purchase,

                  redeem, hold, sell, transfer and otherwise deal with (A)

                  shares of any class or 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.

 

         SEVENTH:          Notwithstanding any provision of the Ohio Revised

                  Code now or hereafter in force requiring for any purpose the

                  vote, consent, waiver or release of the holders of shares of

                  the corporation entitling them to exercise a greater

                  proportion of the voting power of the corporation, or of any

                  class or classes or shares thereof, any action may, to the

                  extent permitted by Law, 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.

 

         EIGHTH:           These Amended Articles supersede and take the place

                  of the existing Amended Articles of Incorporation.

<PAGE>   12

                            CERTIFICATE OF AMENDMENT

                                (BY SHAREHOLDERS)

                       TO THE ARTICLES OF INCORPORATION OF

 

                           WENDY'S INTERNATIONAL, INC.

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

                              (NAME OF CORPORATION)

 

                                                ( ) Chairman of the Board

    Ronald P. Fay      , who is                 (X) President

- -----------------------                         ( ) Vice President

 

and     John W. Funk   , who is                 (X) Secretary

   --------------------                         ( ) Assistant Secretary

 

of the above named Ohio corporation for profit with its principal location at

_________________, Ohio do hereby certify that: (check the appropriate box and

complete the appropriate statements)\

 

         -----

                     a meeting of the shareholders was duly called and held on

         -----       __________________, ________, at which meeting a quorum of

                     the shareholders was present in person or by proxy, and by

                     the affirmative vote of the holders of shares entitling

                     them to exercise ________% of the voting power of the

                     corporation,

 

               in a writing signed by all of the shareholders who would be

         -----

               entitled to a notice of a meeting held for that purpose,

         -----

 

the following resolution was adopted to amend the articles:

 

         RESOLVED, that the first paragraph of Article IV of the Amended

         Articles of Incorporation be, and the same hereby is, amended to read

         as follows:

 

         "ARTICLE IV. The authorized number of shares of the corporation is

         100,250,000, of which 100,000,000 shares shall be common shares,

         without par value, and 250,000 shares shall be preferred shares, $1.00

         par value."

 

 

 

         IN WITNESS WHEREOF, the above named officers, acting for and on behalf

of the corporation, have subscribed their names this ________ day of __________,

19_____.

 

 

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

                                            (President)

 

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

                                            (Secretary)

 

NOTE:    Ohio law does not permit one officer to sign in two capacities. Two

         separate Signatures are required, even if this necessitates the

         election of a second Officer before filing can be made.