Natives born after December 18, 1971, and, at the further option of the Corporation, descendants of Natives born after December 18, 1971,

Natives who were eligible for enrollment pursuant to

Natives who have attained the age of 65,

Not more than one hundred shares of Settlement Common Stock shall be issued to any one individual pursuant to clause (i).

An amendment under clause (i) may provide that Settlement Common Stock issued to a Native pursuant to the amendment (or stock issued in exchange for that Settlement Common Stock pursuant to subsection (h)(3) or section 1626(c)(3)(D) of this title) shall be subject to 1 or more of the conditions described in subclause (II).

the stock described in that subclause shall be deemed to be canceled on the death of the Native to whom the stock is issued, and no compensation for the cancellation shall be paid to the estate of the deceased Native or any person holding the stock;

the stock shall carry limited or no voting rights; and

the stock shall not be transferred by gift under subsection (h)(1)(C)(iii).

Settlement Common Stock issued pursuant to clause (i) shall not carry rights to share in distributions made to shareholders pursuant to subsections (j) and (m) unless, prior to the issuance of such stock, a majority of the class of existing holders of Settlement Common Stock carrying such rights separately approve the granting of such rights. The articles of incorporation of the Regional Corporation shall be deemed to be amended to authorize such class vote.

A Regional Corporation may amend its articles of incorporation to authorize the issuance of additional shares of Settlement Common Stock as a dividend or other distribution (without regard to surplus of the corporation under the laws of the State) upon each outstanding share of Settlement Common Stock issued pursuant to subparagraphs (A) and (B).

The amendment authorized by clause (i) may provide that shares of Settlement Common Stock issued as a dividend or other distribution shall constitute a separate class of stock with greater per share voting power than Settlement Common Stock issued pursuant to subparagraphs (A) and (B).

preemptive rights of shareholders under the laws of the State shall not apply to the issuance of such shares, or

conveying assets to a Settlement Trust, or

issuing shares of stock without adequate consideration as required under the laws of the State.

dividend rights,

voting rights, and

liquidation preferences;

the restrictions on alienation described in clauses (i), (ii), and (iv) of subsection (h)(1)(B), and

the restriction described in paragraph (1)(B)(iii); and

Natives who have attained the age of sixty-five;

other identifiable groups of Natives or identifiable groups of descendants of Natives defined in terms of general applicability and not in any way by reference to place of residence or family;

Settlement Trusts; or

entities established for the sole benefit of Natives or descendants of Natives, in which the classes of beneficiaries are defined in terms of general applicability and not in any way by reference to place of residence, family, or position as an officer, director, or employee of a Native Corporation.

as a dividend or other distribution (without regard to surplus of the corporation under the laws of the State) upon all outstanding shares of stock of any class or series, or

for such consideration as may be permitted by law (except that this requirement may be waived with respect to issuance of stock to the individuals or entities described in subparagraph (B)(iii)).

issued to, or for the benefit of, a group of individuals composed only or principally of employees, officers, and directors of the corporation; or

issued more than thirteen months after the date on which the vote of the shareholders on the amendment authorizing the issuance of such stock occurred if, as a result of the issuance, the outstanding shares of Settlement Common Stock will represent less than a majority of the total voting power of the corporation for the purpose of electing directors.

the maximum number of shares of any class or series of stock that may be issued, and

the maximum number of votes that may be held by such shares.

If the board of directors of a Regional Corporation intends to propose an amendment pursuant to paragraph (2) which would authorize the issuance of classes or series of stock that, singly or in combination, could cause the outstanding shares of Settlement Common Stock to represent less than a majority of the total voting power of the corporation for the purposes of electing directors, the shareholders of such corporation shall be expressly so informed.

Such information shall be transmitted to the shareholders in a separate disclosure statement or in another informational document in writing or in recorded sound form both in English and any Native language used by a shareholder of such corporation. Such statement or informational document shall be transmitted to the shareholders at least sixty days prior to the date on which such proposal is to be submitted for a vote.

If not later than thirty days after issuance of such disclosure statement or informational document the board of directors receives a prepared concise statement setting forth arguments in opposition to the proposed amendment together with a request for distribution thereof signed by the holders of at least 10 per centum of the outstanding shares of Settlement Common Stock, the board shall either distribute such statement to the shareholders or provide to the requesting shareholders a list of all shareholder’s names and addresses so that the requesting shareholders may distribute such statement.

No shares of stock issued pursuant to paragraphs (1)(C) and (2) shall carry rights to share in distributions made to shareholders pursuant to subsections (j) and (m). No shares of stock issued pursuant to paragraph (1)(B) shall carry such rights unless authorized pursuant to paragraph (1)(B)(iv).

Notwithstanding the issuance of additional shares of stock pursuant to paragraphs 1 (1)(B), (1)(C), or (2), a Regional Corporation shall apply the ratio last computed pursuant to subsection (m) prior to February 3, 1988, for purposes of distributing funds pursuant to subsections (j) and (m).

carry a right to vote in elections for the board of directors and on such other questions as properly may be presented to shareholders;

permit the holder to receive dividends or other distributions from the corporation; and

vest in the holder all rights of a shareholder in a business corporation organized under the laws of the State.

sold;

pledged;

subjected to a lien or judgment execution;

assigned in present or future;

title 11 or any successor statute,

any other insolvency or moratorium law, or

other laws generally affecting creditors’ rights; or

otherwise alienated.

pursuant to a court decree of separation, divorce, or child support;

by a holder who is a member of a professional organization, association, or board that limits his or her ability to practice his or her profession because he or she holds Settlement Common Stock; or

as an inter vivos gift from a holder to his or her child, grandchild, great-grandchild, niece, nephew, or (if the holder has reached the age of majority as defined by the laws of the State of Alaska) brother or sister, notwithstanding an adoption, relinquishment, or termination of parental rights that may have altered or severed the legal relationship between the gift donor and recipient.

amends its articles of incorporation to authorize such purchases, and

gives the person receiving such stock written notice of its intent to purchase within ninety days after the date that the corporation either determines the decedent’s heirs in accordance with the laws of the State or receives notice that such heirs have been determined, whichever later occurs; and

the person receiving such stock fails to transfer the stock pursuant to paragraph (1)(C)(iii) within sixty days after receiving such written notice.

transferred by will or pursuant to applicable laws of intestate succession after February 3, 1988, or

transferred by any means prior to February 3, 1988,

Replacement Common Stock issued in exchange for Settlement Common Stock issued subject to the restriction authorized by subsection (g)(1)(B)(iii) shall bear a legend indicating that the stock will eventually be canceled in accordance with the requirements of that subsection.

a share of Replacement Common Stock that carries such right, or

a share of Replacement Common Stock that does not carry such right together with a separate, non-voting security that represents only such right.

Replacement Common Stock issued in exchange for a class of Settlement Common Stock carrying greater per share voting power than Settlement Common Stock issued pursuant to subsections (g)(1)(A) and (g)(1)(B) shall carry such voting power and be subject to such other terms as may be provided in the amendment to the articles of incorporation authorizing the issuance of such class of Settlement Common Stock.

a restriction denying voting rights to any holder of Replacement Common Stock who is not a Native or a descendant of a Native;

a restriction granting the Regional Corporation, or the Regional Corporation and members of the shareholder’s immediate family who are Natives or descendants of Natives, the first right to purchase, on reasonable terms, the Replacement Common Stock of the shareholder prior to the sale or transfer of such stock (other than a transfer by will or intestate succession) to any other party, including a transfer in

satisfaction of a lien, writ of attachment, judgment execution, pledge, or other encumbrance; and

any other term, restriction, limitation, or provision authorized by the laws of the State.

the non-village shares, including the right to share in distributions made to shareholders pursuant to subsections (j) and (m) (referred to in this paragraph as “nonresident distribution rights”), at a price that includes a premium, in addition to the amount that is offered for the purchase of other village shares of Settlement Common Stock of the Cook Inlet Regional Corporation, that reflects the value of the nonresident distribution rights; or

non-village shares without the nonresident distribution rights associated with the shares.

the consideration for a share of Settlement Common Stock offered to shareholders of village shares; and

a security for only the nonresident rights that attach to such share that does not have attached voting rights (referred to in this paragraph as a “non-voting security”).

computing distributions under such subsections; and

entitling the holder of the share to the proportional share of the distributions made under such subsections;

may be sold to Cook Inlet Region, Inc.; and

shall otherwise be subject to the restrictions under paragraph (1)(B).

outstanding shares; and

for the purposes of subsection (m), shares of stock registered on the books of the Cook Inlet Regional Corporation in the names of nonresidents of villages;

any amount of funds that would be distributable with respect to non-village shares or non-voting securities pursuant to subsection (j) or (m) shall be distributed by Cook Inlet Regional Corporation to itself; and

outstanding shares, and

for the purposes of subsection (k) shares of stock registered on the books of the Cook Inlet Regional Corporation in the names of the residents of villages.

any share of Settlement Common Stock held, at the time the offer is made, by an officer (including a member of the board of directors) of Cook Inlet Regional Corporation or a member of the immediate family of the officer; and

any share of Settlement Common Stock held by any custodian, guardian, trustee, or attorney representing a shareholder of Cook Inlet Regional Corporation in fact or law, or any other similar person, entity, or representative.

The board of directors of Cook Inlet Regional Corporation, in determining the terms of an offer to purchase made under this paragraph, including the amount of any premium paid with respect to a non-village share, may rely upon the good faith opinion of a recognized firm of investment bankers or valuation experts.

in good faith;

in reliance on a determination made pursuant to clause (i); and

otherwise in accordance with this paragraph.