UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 23, 2025 (
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
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(Address of principal executive offices) | (Zip Code) |
(
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Title of Class | Trading Symbol | Name of Each Exchange on Which Registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) On July 21, 2025, DoubleVerify Inc. (the “Company”) entered into an amended and restated employment agreement with Mark Zagorski (the “Amended and Restated Employment Agreement”), effective as of July 21, 2025. The Amended and Restated Employment Agreement provides for Mr. Zagorski’s continued employment as Chief Executive Officer of the Company.
Pursuant to the Amended and Restated Employment Agreement, Mr. Zagorski will receive an annual base salary of $669,500, and Mr. Zagorski shall be eligible for a target bonus in an amount equal to 100% of the base salary for each year during his continued employment by the Company. Mr. Zagorski will also be granted time-vesting restricted stock units with a grant date fair value of $2,500,000.
The term of the Amended and Restated Employment Agreement will continue until such employment is terminated pursuant to the Amended and Restated Employment Agreement. The Amended and Restated Employment Agreement includes provisions related to severance payments and entitlements upon the Company’s termination of Mr. Zagorski’s employment for any reason other than “cause” (as defined in the Amended and Restated Employment Agreement), or Mr. Zagorski’s termination for “good reason” (as defined in the Amended and Restated Employment Agreement). In the event Mr. Zagorski terminates his employment without “good reason” after January 1 of a calendar year and prior to payment of the bonus in respect of the immediately preceding calendar year, the Company will pay Mr. Zagorski the bonus for such preceding year at the level accrued based on actual performance. In the event Mr. Zagorski’s employment is terminated by the Company without “cause” or for “good reason”, subject to his execution and nonrevocation of a release and waiver, Mr. Zagorski will be entitled to continued base salary for twelve months following termination, as well as certain continued health benefits for two years following termination. In addition, if the termination occurs on or after January 1 of a calendar year and prior to payment of the bonus in respect of the immediately preceding calendar year, Mr. Zagorski will be entitled to payment of 100% of his target bonus.
The Amended and Restated Employment Agreement includes standard restrictive covenants and confidentiality obligations.
The foregoing description of the Amended and Restated Employment Agreement is qualified in its entirety by reference to the Amended and Restated Employment Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description |
10.1 | |
104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DOUBLEVERIFY HOLDINGS, INC. | |||
By: | /s/ Andy Grimmig | ||
Name: | Andy Grimmig | ||
Title: | Chief Legal Officer | ||
Date: July 23, 2025 |
Exhibit 10.1
Execution Version
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This Amended and Restated Employment Agreement (the “Agreement”), dated as of July 21, 2025 (the “Amendment Date”), is entered into by and between DoubleVerify Inc. (“Employer”) and Mark Zagorski, an individual (“Employee”, together with Employer, the “Parties” and each, a “Party”).
WHEREAS, Employer and Employee entered in that certain Employment Agreement, dated as of July 1, 2020 (the “Original Agreement”), which was effective commencing on July 21, 2020 (the “Commencement Date”), pursuant to which Employer and Employee agreed that Employee would serve as the Chief Executive Officer of Employer, on the terms and conditions set forth in the Original Agreement; and
WHEREAS, Employee and Employee now desire to amend and restate the Original Agreement.
NOW, THEREFORE, in consideration of the mutual agreements set forth herein, Employer and Employee hereby agree that the Original Agreement is hereby amended and restated in its entirety as follows:
Notwithstanding the foregoing, Employee shall not be entitled to terminate Employee’s employment with Employer for the occurrence of any Good Reason unless Employee (i) notifies Employer of the occurrence of such Good Reason within ninety (90) days after its initial
occurrence, (ii) provides Employer with thirty (30) days to cure the occurrence of such Good Reason event of which Employer is so notified, and (iii) elects to terminate Employee’s employment with Employer as a result of such Good Reason event within one (1) year after the occurrence thereof; provided, however, that in the event Employee shall have previously given such 30-day opportunity to cure any such occurrence or commission of an event of Good Reason during the immediately preceding one (1) year, Employee shall not again be required to give such 30-day cure period for any second such act constituting Good Reason committed by Employer.
“Associated With” a Person means to, directly or indirectly, own, manage, operate, join, finance, control, be employed by, receive remuneration from, participate in, consult with, or be connected in any manner with the ownership, management, financing, operation or control of or be connected as an officer, director, employee, partner, member, manager, trustee, principal, agent, representative, consultant, contractor, or otherwise, or use or expressly permit his name or any one or more of his or its tradenames to be used, in connection with such Person. The foregoing shall
not include the beneficial ownership solely as an unaffiliated, passive investor of less than five percent (5%) of any class of securities of any business, firm or entity having a class of equity securities actively traded on a national securities exchange, automated quotation system or over-the-counter market.
“Business” means (i) the verification and measurement of the quality and performance of digital advertising, (ii) any substantially related business performed or marketed by Employer and in which Employee was materially involved during the period of Employee’s employment with Employer, and (iii) any material business that was a Planned New Business during the period of Employee’s employment with Employer.
“Client” means any Person who, during the six-month period immediately preceding the termination or cessation of Employee’s employment, had done business with Employer.
“Competing Business” means any Person who engages or is engaged in any element or elements of the Business.
“Person” means an individual, partnership, corporation, limited liability company, unincorporated organization or association, trust or joint venture or other entity, or a Governmental Authority (as defined in the next sentence). “Governmental Authority” means any national, federal, state, provincial, county, municipal or local government, foreign or domestic, or the government of any political subdivision of any of the foregoing, or any entity, authority, agency, ministry or other similar body exercising executive, legislative, judicial, regulatory or administrative authority or functions of or pertaining to government, including any court, authority or other quasi-governmental entity established to perform any of such functions.
“Planned New Business” during a specific time period, means any new line of business or new market which, during that time period, Employer was planning to enter (or any new product or service which, during that period, Employer was planning to market and/or sell); provided that for purposes of this definition, Employer shall have been “planning” something where (w) such planning involved discussion at the level of the board of directors or, for a limited liability company, the body performing the analogous function, (x) such planning was reduced to writing in a substantial form, such as a comprehensive business plan, by the board or such analogous body, (y) Employer committed material resources (human and either financial or technological) to the planning and implementation of the execution of that new business, and (z) such planning was known to Employee and with Employee being materially involved in its contemplation and implementation.
“Restricted Period” means the period commencing on the Commencement Date and ending at 11:59 p.m. New York time on the date that is twelve months after the effective date of any termination of Employee’s employment with Employer, regardless of whether such employment was then pursuant to or under this Agreement.
in the case of Employer to:
DoubleVerify Inc.
462 Broadway
New York, New York 10013
Email: corporatesecretary@doubleverify.com
Attn: General Counsel
and in the case of Employee to, to him at his most recent address as shown on the books and records of Employer.
[The remainder of this page is intentionally blank.
Signatures contained on the following page.]
IN WITNESS WHEREOF, the Parties have duly executed this Amended and Restated Employment Agreement as of the date first written above.
| EMPLOYER: |
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| DoubleVerify Inc. |
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| By: /s/ R.Davis Noell______________ |
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| EMPLOYEE: |
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| /s/ Mark Zagorski_____________________ |
Exhibit A
Confidentiality and Intellectual Property Assignment Agreement
[to be attached]
DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
Confidentiality, Unfair Competition, Intellectual Property
Assignment and Non-Solicitation
(for U.S. Based Employees)
THIS UNDERTAKING (“Undertaking”) is entered into effect as of the __________, 2025 by ______________, an individual residing at_____________________________________ (address) (the “Employee”).
WHEREAS | Employee wishes to be employed by DoubleVerify Inc., a Delaware corporation (the “Company”); and |
WHEREAS | the Company wishes to employ Employee, subject to Employee’s executing this Undertaking in the Company’s favor. |
NOW, THEREFORE, Employee undertakes and warrants towards the Company and any subsidiary and parent entity of the Company as follows:
1. | Confidential Information |
1.1. | Employee acknowledges that Employee will have access to trade secrets and confidential and proprietary information, including information concerning activities of the Company and any of its subsidiaries and affiliated companies, now or in the future (collectively, the “Group”), and that Employee will have access to technology regarding the product research and development, patents, copyrights, customers, suppliers (including customers and/or suppliers lists), marketing plans, strategies, forecasts, trade secrets, test results, formulas, processes, data, know-how, improvements, inventions, techniques and products (actual or planned) of the Group. Such information in any form or media, whether documentary, written, oral or computer generated, shall be deemed to be and referred to herein as “Proprietary Information”. |
1.3. | Proprietary Information shall be deemed to include any and all proprietary information disclosed by or on behalf of the Group irrespective of form, but excluding information that has become a part of the public domain not as a result of a breach of this Undertaking by Employee. |
1.4. | Employee agrees that all memoranda, books, notes, records (contained on any media whatsoever), charts, formulae, specifications, lists and other documents made, compiled, received, held or used by Employee while in the employ of the Company, concerning any phase of the Group’s business or its trade secrets (the “Materials”), shall be the Company’s sole property and all originals or copies thereof shall be delivered by Employee to the Company upon termination of Employee’s employment for any reason whatsoever, or at any earlier or other time at the request of the Company, without Employee retaining any copies thereof. If Employee works or resides in California, the foregoing agreement shall be subject to California Labor Code 2870, a copy of which is included in Exhibit A. |
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
1.5. | Employee recognizes that the Company, after signing Non-Disclosure Agreements, has received and will receive from third parties their confidential or proprietary information, and Employee undertakes to hold all such confidential or proprietary information in strict confidence and not to disclose it to any person or entity or to use it except as necessary in carrying out Employee’s employment duties. |
(1) An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.
(2) An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual—(A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.
2. | Unfair Competition and Solicitation |
In light of the above provisions and in addition to any other undertaking herein or in any other agreement containing restrictive covenants between Employee and the Company, subject, as applicable, to the state specific provisions included in Exhibit A attached hereto, Employee hereby undertakes:
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
2.2. | For purpose of this Section 2: |
2.2.1. | the term “Non-Compete Period” means the term of Employee’s employment with the Company and a period of: |
• | twelve (12) months thereafter, if Employee has a level of “E7” or above as of the date of Employee’s termination; |
• | zero (0) months thereafter, if Employee has a level below “E7” as of the date of Employee’s termination and the Employee’s position as of the date of Employee’s termination is classified by the Company as non-exempt from overtime. |
3. | Ownership of Inventions |
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
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LET’S BUILD A BETTER INDUSTRY® | ©2019 DoubleVerify. All rights reserved. | 4 |
DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
4. | Third Party Information |
4.1. | Employee will not disclose to the Company any proprietary or confidential information belonging to any third party, including any prior or current employer or contractor, unless the written approval of that third party was received. |
4.2. | Employee recognizes that the Company may receive in the future from third parties their confidential or proprietary information, subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. Employee undertakes to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person or entity or to use it except as necessary in carrying out his services for the Company, consistent with the Company’s agreement with such third party. |
5. | General |
5.1. | Severability. The Employee acknowledges that the provisions of this Undertaking serve as an integral part of the terms of employment and reflects the reasonable requirements of the Company in order to protect its legitimate interests. If any provision of this Undertaking (including any sentence, clause or part thereof) shall be adjudicated to be invalid or unenforceable, such provision shall be deemed amended to delete there from the portion thus adjudicated to be invalid or unenforceable, such deletion to apply only with respect to the operation of such provision in the particular jurisdiction in which such adjudication is made. In addition, if any particular provision contained in this undertaking shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing the scope of such provision so that the provision is enforceable to the fullest extent compatible with applicable law. |
5.2. | Survival. The provisions of this Undertaking shall continue and remain in full force and effect following the termination of the employment relationship between the Company and the Employee for whatever reason. This Undertaking shall not serve in any manner as to derogate from any of the Employee’s obligations and liabilities under any applicable law and/or under any other agreement with the Company. |
5.3. | Condition of Employment. Employee acknowledges that execution of this Undertaking is a condition of employment by the Company and the disclosure of any Proprietary Information. |
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
5.5. | Governing Law. Subject to any applicable mutual arbitration agreement this Undertaking and any action related thereto will be governed, controlled, interpreted, and defined by and under the laws of the State of New York, without giving effect to any conflicts of laws principles that require the application of the law of a different state. |
5.7. | Waiver. Any waiver or failure to enforce any provision of this Undertaking on one occasion will not be deemed a waiver of any other provision or of such provision on any other occasion. |
5.8. | Export. Employee agrees not to export, directly or indirectly, any U.S. technical data acquired from Company or any products utilizing such data, to countries outside the United States that would be in violation of the United States export laws or regulations. |
________________________
Name of Employee
________________________
Signature
______________
Date
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LET’S BUILD A BETTER INDUSTRY® | ©2019 DoubleVerify. All rights reserved. | 6 |
DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
State Specific Restrictive Covenant Administration
If the Employee is employed in a state listed below, the provisions set forth under that jurisdiction shall apply to the Undertaking, which may be in lieu of, or in addition to, the provisions set forth above in the Undertaking, as the context requires. In the event of any conflict between the Undertaking and the applicable provisions of this Exhibit A, the applicable provisions of this Exhibit A shall control.
● | Section 2.1.1 of the Undertaking will not apply following the termination of employment of a California Employee. |
● | For the purposes of Section 2.1.2, a California Employee shall not use any of the Company’s trade secrets (as defined in California Civ. Code section 3426.1 and/or the federal Defend Trade Secrets Act, 18 USC 1839) in order to solicit or call upon any Restricted Customer for the purpose of offering or providing any product or service that is similar to or competitive with any products or service offered by the Company. |
● | Solely for purposes of Section 2 of the Undertaking as it applies to a California Employee, all references in Sections 5.5 and 5.7 to the State of New York shall be replaced by reference to the State of California. |
California Employees are hereby notified that Section 2870 of the California Labor Code is as follows:
(a) | Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of their rights in an invention to their employer shall not apply to an invention that the employee developed entirely on their own time without using the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: |
(1) | Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or |
(2) | Result from any work performed by the employee for the employer. |
(b) | To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. |
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
Massachusetts
● | A Massachusetts Employee has the right to consult with an attorney before signing the Undertaking. |
● | A Massachusetts Employee who is eligible to receive an award of restricted stock units in the Company hereby expressly acknowledges and agrees that the award of restricted stock Units is sufficient and mutually agreed-upon consideration for the Massachusetts Employee’s agreement to be bound by the noncompetition covenant contained in Section 2.1.1. |
● | Solely for purposes of Section 2.1.1 of the Undertaking as it applies to a Massachusetts Employee, all references in Sections 5.5 and 5.7 to the State of New York shall be replaced by reference to the State of Massachusetts. |
● | The non-competition covenant set out in Section 2.1.1 of the Undertaking (i) shall not apply to any Washington Employee whose compensation is less than the minimum amounts required by Revised Code of Washington Chapter 49.62 as of the date of the Employee’s termination of employment with or services for the Company and (ii) shall not apply |
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LET’S BUILD A BETTER INDUSTRY® | ©2019 DoubleVerify. All rights reserved. | 8 |
DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
following the termination of employment of a Washington Employee whose employment is terminated pursuant to a layoff. |
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DV | NON-DISCLOSURE AGREEMENT 2025 |
DoubleVerify | |
Exhibit B
INVENTIONS
Prior Inventions Disclosure. The following is a complete list of all Prior Inventions:
☐ | None |
☐See immediately below:
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Appendix A - Permitted Activities
Board Memberships:
Outbrain Inc.
Gannon University Board of Trustees
Document and Entity Information |
Jul. 21, 2025 |
---|---|
Document and Entity Information [Abstract] | |
Document Type | 8-K |
Document Period End Date | Jul. 21, 2025 |
Entity File Number | 001-40349 |
Entity Registrant Name | DoubleVerify Holdings, Inc. |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 82-2714562 |
Entity Address, Address Line One | 462 Broadway |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10013 |
City Area Code | 212 |
Local Phone Number | 631-2111 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common stock, par value $0.001 per share |
Trading Symbol | DV |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001819928 |
Amendment Flag | false |
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