Sec. 3. The seal of the Corporation shall be in the form of a circle, containing the inscription, Research Corporation, New York, surrounding the inscription, Corporate Seal 1912.

Sec. 4. These By-Laws may be amended at any meeting of the stockholders or of the Board of Directors, as the case may be, by unanimous vote, or, by a two-thirds vote when fifteen days' previous notice of the proposed amendment has been mailed or delivered to each stockholder or Director, provided that no amendment adopted by the Board of Directors regulating the election of Directors or officers shall be valid unless published as required by law. A copy of any amendment to the by-laws shall be sent to each stockholder and each Director within ten days after its adoption.

Sec. 5. There may be an Advisory Board, consisting of such former directors, stockholders and others as the Board of Directors may from time to time elect. The Advisory Board shall be a consultative body only and meetings thereof shall be held when and as requested by the Board of Directors. Copies of the printed reports and other publications of the Corporation shall be sent to members of the Advisory Board.

EXHIBIT D

SEPARATE STATEMENT FOR PERIOD ENDED DECEMBER 31,
1936, SHOWING SALARIES OR OTHER PAYMENTS MADE TO
ANY ADMINISTRATIVE OFFICER, SHAREHOLDER OR TRUSTEE,
THE REASON FOR SUCH PAYMENT AND THE AMOUNT THEREOF

No shareholder or trustee has ever received com

pensation as such. The Corporation owns all of its capital stock.

*The above figure represents Mr. Scott's retainer.
In addition he received during 1936 the sum of $150.
for special legal work.

Reserve for Additional Cost of Completed Contracts
Reserve for Awards to Scientific and Educational
Institutions, appropriated but unpaid

Advance Payments on Contracts

Account Payable - Officer

19,382.17

20,129.89

218,629.44

11,783.36