0001144204-12-010216.txt : 20120221 0001144204-12-010216.hdr.sgml : 20120220 20120221165851 ACCESSION NUMBER: 0001144204-12-010216 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20120220 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120221 DATE AS OF CHANGE: 20120221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOCUMENT SECURITY SYSTEMS INC CENTRAL INDEX KEY: 0000771999 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 161229730 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32146 FILM NUMBER: 12627502 BUSINESS ADDRESS: STREET 1: 36 WEST MAIN ST STREET 2: SUITE 710 CITY: ROCHESTER STATE: NY ZIP: 14614 BUSINESS PHONE: 585 232 1500 MAIL ADDRESS: STREET 1: 36 W MAIN ST STREET 2: SUITE 710 CITY: ROCHESTER STATE: NY ZIP: 14614 FORMER COMPANY: FORMER CONFORMED NAME: NEW SKY COMMUNICATIONS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: THOROUGHBREDS USA INC DATE OF NAME CHANGE: 19861118 8-K 1 v303337_8k.htm

 

 

 

UNITED STATES

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 20, 2012

 

DOCUMENT SECURITY SYSTEMS, INC.

 

(Exact name of registrant as specified in its charter)

         
New York   001-32146   16-1229730
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

 

First Federal Plaza, Suite 1525

28 East Main Street

Rochester, NY

  14614
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (585) 325-3610

 

 

 

(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 (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On February 20, 2012, Document Security Systems, Inc. (the “Company”) and ipCapital Group, Inc. (“ipCapital”) entered into an engagement letter (the “ipCapital Engagement Letter”) for the provision of certain IP strategic consulting services by ipCapital for the 2012 calendar year (the “Services”). Pursuant to the terms of the ipCapital Engagement Letter, Services to the Company include, but are not limited to (i) facilitation of eight full-day invention sessions with the Company’s senior management team to create a strategic invention inventory on the front end of new patent application development, and (ii) the provision of as-needed engineering and management support to ensure that strategic action items are executed in a cost-effective manner leveraging ipCapital’s expertise and best-practices.

 

Fees under the ipCapital Enagement Letter will range from $240,000 to $365,000 for the 2012 calendar year (the “Cash Fees”). In addition to Cash Fees, the Company issued ipCapital a five-year warrant (the “Warrant”) on February 20, 2012 (the “Issuance Date”) to purchase up to 100,000 shares of the Company’s common stock (the “Warrant Stock”) at an exercise price of $4.62 per share (the “Warrant Price”). The Warrant vests and becomes exercisable to the extent of 33 1/3 percent of the Warrant Stock upon each of the first, second and third anniversary dates, respectively, of the Issuance Date.

 

The forgoing description is a summary only, does not purport to set forth the complete terms of the ipCapital Engagement Letterand the Warrant, and is qualified in its entirety by reference to the ipCapital Engagement Letter and Warrant, which are filed as Exhibits 10.1 and 4.1, respectively, to this Current Report on Form 8-K.

 

On February 20, 2012, the Company entered into a consulting arrangement with ipCapital (the “ipCapital Consulting Agreement”). Pursuant to the terms of the ipCapital Consulting Agreement, ipCapital will provide strategic advice to the Company’s senior management team on the development of the Company’s Digital Group infrastructure and cloud computing business strategy. The ipCapital Consulting Agreement has a three year term. As ipCapital’s sole source of compensation under the ipCapital Consulting Agreement, the Company issued ipCapital a five-year warrant (the “Consulting Warrant”) on February 20, 2012 (the “Consulting Warrant Issuance Date”) to purchase up to 200,000 shares of the Company’s common Stock (the “Consulting Warrant Stock”) at an exercise price of $4.50 per share (the “Consulting Warrant Price”). The Consulting Warrant vests and becomes exercisable to the extent of 33 1/3 percent of the Consulting Warrant Stock upon each of the first, second and third anniversary dates, respectively, of the Consulting Warrant Issuance Date. Either party may terminate the Consulting Agreement upon a material breach by the other party which is not cured within 15 days of notice thereof or by the Company immediately upon a breach by ipCapital of its confidentiality obligations.

 

The foregoing description is a summary only, does not purport to set forth the complete terms of the ip Capital Consulting Agreement and Consulting Warrant, and is qualified in its entirety by reference to the ipCapital Consulting Agreement and Consulting Warrant, which are filed as Exhibits 10.2 and 4.2, respectively, to this Current Report on Form 8-K.

 

On February 20, 2012, the Company entered into consulting arrangement (the “Century Media Consulting Agreement”) with Century Media Group (“Century Media”) for the provision of investor relations services to the Company (the “IR Services”). The IR Services include, but are not limited to (i) assisting in the implementation and maintenance of an ongoing program to increase the investment community’s awareness of the Company’s activities and to stimulate the investment community’s interest in the Company, (ii) assisting the Company with press release production and editing, and (iii) management of shareholder inquiries to the Company.

 

The term of the Century Media Consulting Agreement is one year. As compensation for the IR Services, Century Media will receive a fee of $10,000 per month for the one year term (the “Cash Consulting Fees”). In addition to the Cash Consulting Fees, the Company issued Century Media a 14-month warrant (the “Century Media Warrant”) on February 20, 2012 to purchase up to 250,000 shares of the Company’s common stock (the “Century Media Warrant Stock”), at exercise prices of $4.50, $4.75, $5.00, $5.25 and $6.00 for each 50,000 shares subject to the Century Media Warrant. The Century Media Warrant vested in full on the date of issuance, February 20, 2012. Either party may terminate the Century Media Consulting Agreement upon 30 days prior written notice after the first 30 days of the term of the Century Media Consulting Agreement.

 

 
 

 

The foregoing description is a summary only, does not purport to set forth the complete terms of the Century Media Consulting Agreement and the Century Media Warrant, and is qualified in its entirety by reference to the Century Media Consulting Agreement and the Century Media Warrant, which are filed as Exhibits 10.3 and 4.3, respectively, to this Current Report on Form 8-K.

 

The Company has received NYSE Amex additional listing approval for the Warrant Stock, the Consulting Warrant Stock and the Century Media Warrant Stock.

 

Item 5.02 Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On February 20, 2012, the Board of Directors (the “Board”) unanimously appointed John Cronin as a director of the Company, to fill a vacancy on the Board created pursuant to amended by-laws of the Company adopted on January 16, 2012 whereby the number of Board seats was increased from seven members to eight members. The appointment will be effective on February 21, 2012, and Mr. Cronin will serve as a director of the Company until the next annual meeting of shareholders. Mr. Cronin is Chairman, Managing Director and a 42% owner of ipCapital which, on February 20, 2012, entered the ipCapital Engagement Letter and the ipCapital Consulting Agreement with the Company, as described in Item 1.01 above of this Current Report on Form 8-K.

 

The disclosure set forth above in Item 1.01of this Current Report on Form 8-K is hereby incorporated by reference into this Item 5.02.

 

Item 8.01 Other Events.

 

On February 21, 2012, the Company issued a press release announcing the appointment of John Cronin to the Board. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information furnished pursuant to this Item 8.01 and Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits
   
4.1 Warrant issued to ipCapital Group, Inc., dated February 20, 2012.
4.2 Warrant issued to ipCapital Group, Inc., dated February 20, 2012.
4.3 Warrant issued to Century Media Group, dated February 20, 2012.
10.1 Engagement Letter between Document Security Systems, Inc. and ipCapital Group, Inc., dated February 20, 2012.
10.2 Consulting Agreement between Document Security Systems, Inc. and ipCapital Group, Inc., dated February 20, 2012.
10.3 Consulting Agreement between Document Security Systems, Inc. and Century Media Group, dated February 20, 2012.
99.1 Press release issued February 21, 2012.

 

 
 

 

 

SIGNATURE

 

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.

 

    DOCUMENT SECURITY SYSTEMS, INC.
     
Dated: February 21, 2012   By:   /s/ Patrick A. White
        Patrick A. White
        Chief Executive Officer

 

 

 

EX-4.1 2 v303337_ex4-1.htm

 

WARRANT

 

DOCUMENT SECURITY SYSTEMS, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

VOID AFTER 5:30 P.M., EASTERN

TIME, ON THE EXPIRATION DATE

 

THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT COMPLIANCE WITH THE REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR APPLICABLE EXEMPTIONS THEREFROM.

 

As consideration for consulting services to be performed pursuant to a Consulting Agreement, DOCUMENT SECURITY SYSTEMS, INC., a New York corporation (the “Company”), on even date herewith (the “Issuance Date”) hereby agrees to sell upon the terms and on the conditions hereinafter set forth, but no later than 5:30 p.m., Eastern Time, on the Expiration Date (as hereinafter defined) to ipCAPITAL GROUP Inc. or registered assigns (the “Holder”), one-hundred thousand (100,000) fully paid and non-assessable shares of the Company’s common stock, par value $0.02 per share (the “Common Stock” or “Warrant Stock”), at a per share purchase price equal to the price of the Company’s common stock at the close of market on the Issuance Date (the “Warrant Price”), pursuant to this warrant (this “Warrant”). Holder’s right to purchase under this Warrant shall be subject to and contingent upon the Company receiving prior NYSE Amex additional listing approval for the underlying Warrant Stock. The number of shares of Warrant Stock to be so issued and the Warrant Price are subject to adjustment in certain events as hereinafter set forth. The term “Common Stock” or “Warrant Stock” shall mean, when used herein, unless the context otherwise requires, the stock receivable upon the exercise of this Warrant.

 

1.          Exercise of Warrant.

 

a.           The Holder may exercise this Warrant according to its terms by (i) surrendering this Warrant, properly endorsed, to the Company at the address set forth in Section 10, (ii) executing the subscription form attached hereto (the “Form of Exercise”), and (iii) making payment of the purchase price to the Company for the number of shares of the Warrant Stock specified in the Form of Exercise, or as otherwise provided in this Warrant, prior to 5:30 p.m., Eastern Time, on February 20, 2017 (the “Expiration Date”). Such exercise shall be deemed effected by the surrender of the Warrant, together with a duly executed copy of the Form of Exercise, to Company at its principal office along with payment to the Company of an amount equal to the aggregate Warrant Price for the number of shares of Warrant Stock being purchased in cash, check or bank draft.

 

 
 

 

b.           This Warrant may be exercised in whole or in part. If exercised in part, the Company shall deliver to the Holder a new Warrant, identical in form, in the name of the Holder, evidencing the right to purchase the number of shares of Warrant Stock as to which this Warrant has not been exercised. The term Warrant as used herein shall include any subsequent Warrant issued as provided herein.

 

c.           No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. If any fraction of a Warrant Stock would, except for the provisions of this Section 1(c), be issuable on the exercise of a Warrant, the number of Warrant Stock to be issued by the Company shall be rounded to the nearest whole number, with one-half or greater being rounded up.

 

d.           In the event of any exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Stock so purchased, registered in the name of the Holder, shall be delivered to the Holder within a reasonable time after such rights shall have been so exercised. The person or entity in whose name any certificate for the Warrant Stock is issued upon exercise of the rights represented by this Warrant shall for all purposes be deemed to have become the holder of record of such shares immediately prior to the close of business on the date on which the Warrant was surrendered and payment of the Warrant Price and any applicable taxes was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the opening of business on the next succeeding date on which the stock transfer books are open.

 

2.          Vesting of Warrant. This Warrant shall vest and become exercisable pursuant to the following schedule:

 

(i)          This Warrant shall vest and become exercisable to the extent of 33 1/3% of the Warrant Shares upon each of the first, second and third anniversary dates, respectively, of the Issuance Date.

 

3.          Disposition of Warrant and Warrant Stock.

 

a.           The Holder hereby acknowledges that this Warrant and any Warrant Stock purchased pursuant hereto are, as of the date hereof, not registered: (i) under the Securities Act of 1933, as amended (the “Act”), on the ground that the issuance of this Warrant is exempt from registration under Section 4(2) of the Act and/or Regulation D thereunder as not involving any public offering or (ii) under any applicable state securities law because the issuance of this Warrant does not involve any public offering; and that the Company’s reliance on the Section 4(2) exemption of the Act and/or Regulation D and the other rules and regulations promulgated thereunder, and under applicable state securities laws is predicated in part on the representations hereby made to the Company by the Holder that it is acquiring this Warrant and will acquire the Warrant Stock for investment for its own account, with no present intention of dividing its participation with others or reselling or otherwise distributing the same, subject, nevertheless, to any requirement of law that the disposition of its property shall at all times be within its control.

 

- 2 -
 

 

The Holder hereby agrees that it will not sell or transfer all or any part of this Warrant and/or Warrant Stock unless and until it shall first have given notice to the Company describing such sale or transfer and furnished to the Company either (i) an opinion, satisfactory to counsel for the Company, to the effect that the proposed sale or transfer may be made without registration under the Act and without registration or qualification under any state law, or (ii) an interpretative letter from the Securities and Exchange Commission to the effect that no enforcement action will be recommended if the proposed sale or transfer is made without registration under the Act.

 

b.           If, at the time of issuance of the shares issuable upon exercise of this Warrant, no registration statement is in effect with respect to such shares under applicable provisions of the Act, the Company may at its election require that the Holder provide the Company with written reconfirmation of the Holder’s investment intent and that any stock certificate delivered to the Holder of a surrendered Warrant shall bear legends reading substantially as follows:

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.”

 

In addition, so long as the foregoing legend may remain on any stock certificate delivered to the Holder, the Company may maintain appropriate “stop transfer” orders with respect to such certificates and the shares represented thereby on its books and records and with those to whom it may delegate registrar and transfer functions.

 

4.          Reservation of Shares. The Company hereby agrees that at all times there shall be reserved for issuance upon the exercise of this Warrant such number of shares of its Common Stock as shall be required for issuance upon exercise of this Warrant. The Company further agrees that all shares which may be issued upon the exercise of the rights represented by this Warrant will be duly authorized and will, upon issuance and against payment of the exercise price, be validly issued, fully paid and non-assessable, free from all taxes, liens, charges and preemptive rights with respect to the issuance thereof, other than taxes, if any, in respect of any transfer occurring contemporaneously with such issuance and other than transfer restrictions imposed by federal and state securities laws.

 

- 3 -
 

 

5.          Exchange, Transfer or Assignment of Warrant. This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other Warrants of different denominations, entitling the Holder or Holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, along with a duly executed assignment form and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled. This Warrant may be divided or combined with other Warrants that carry the same rights upon presentation hereof at the office of the Company or at the office of its stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof.

 

6.          Capital Adjustments. This Warrant is subject to the following provisions:

 

A.      Adjustment for Stock Splits, Stock Dividends, Recapitalizations. The number of Warrant Stock issuable upon exercise of each Warrant and the Warrant Price shall each be proportionately adjusted to reflect any stock dividend, stock split, reverse stock split, recapitalization or the like affecting the number of outstanding shares of Common Stock that occurs after the date hereof.

 

B.      Adjustments for Reorganization, Consolidation, Merger. If after the date hereof, the Company (or any other entity, the stock or other securities of which are at the time receivable on the exercise of the Warrants), consolidates with or merges into another entity or conveys all or substantially all of its assets to another entity, then, in each such case, Holder, upon any permitted exercise of a Warrant, at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise of the Warrant prior to such consummation, the stock or other securities or property to which such Holder would have been entitled upon the consummation of such reorganization, consolidation, merger or conveyance if such Holder had exercised the Warrant immediately prior thereto. The successor or purchasing entity in any such reorganization, consolidation, merger or conveyance (if other than the Company) shall duly execute and deliver to Holder a written acknowledgment of such entity’s obligations under the Warrants and this Agreement.

 

C.      Stock Dividends. If the Company at any time while this Warrant is outstanding and unexpired shall issue or pay the holders of its Common Stock, or take a record of the holders of its Common Stock for the purpose of entitling them to receive, a dividend payable in, or other distribution of, Common Stock, then the Warrant Price shall be adjusted as provided in Section 5(C) and the number of shares of Warrant Stock purchasable upon exercise of this Warrant shall be adjusted to the number of shares of Common Stock that the Holder would have owned immediately following such action had this Warrant been exercised immediately prior thereto.

 

D.      Purchase Adjustments. Except as otherwise provided herein, whenever the number of shares of Warrant Stock purchasable upon exercise of this Warrant is adjusted, as herein provided, the Warrant Price payable upon the exercise of this Warrant shall be adjusted to that price determined by multiplying such Warrant Price immediately prior to such adjustment by a fraction (i) the numerator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately thereafter. The number of shares of Common Stock outstanding at any given time for purposes of the adjustments set forth in this Section 5 shall exclude any shares then directly or indirectly held in the treasury of the Company.

 

- 4 -
 

 

E.      Exception to Purchase Adjustments. The Company shall not be required to make any adjustment pursuant to this Section 5 if the amount of such adjustment would be less than one percent (1%) of the Warrant Price in effect immediately before the event that would otherwise have given rise to such adjustment. In such case, however, any adjustment that would otherwise have been required to be made shall be made at the time of and together with the next subsequent adjustment which, together with any adjustment or adjustments so carried forward, shall amount to not less than one percent (1%) of the Warrant Price in effect immediately before the event giving rise to such next subsequent adjustment. Following each computation or readjustment as provided in this Section 5, the new adjusted Warrant Price and number of shares of Warrant Stock purchasable upon exercise of this Warrant shall remain in effect until a further computation or readjustment thereof is required.

 

7.          Notice to Holders.

 

a.            In case:

 

(i)          the Company shall take a record of the holders of its common stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than a cash dividend payable out of earned surplus of the Company) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right;

 

(ii)         of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation with or merger of the Company into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation; or

 

(iii)        of any voluntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case, the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (ii) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution or winding-up. Such notice shall be mailed at least ten (10) days prior to the record date therein specified, or if no record date shall have been specified therein, at least ten (10) days prior to such specified date, provided, however, failure to provide any such notice shall not affect the validity of such transaction.

 

- 5 -
 

 

8.          Loss, Theft, Destruction or Mutilation. Upon receipt by the Company of evidence satisfactory to it, in the exercise of its reasonable discretion, of the ownership and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and, in the case of mutilation, upon surrender and cancellation thereof, the Company will execute and deliver in lieu thereof, without expense to the Holder, a new Warrant of like tenor dated the date hereof.

 

9.          Warrant Holder Not a Stockholder. The Holder of this Warrant, as such, shall not be entitled by reason of this Warrant to any rights whatsoever as a stockholder of the Company.

 

10.         Notices. Any notice required or contemplated by this Warrant shall be deemed to have been duly given if transmitted by registered or certified mail, return receipt requested, or nationally recognized overnight delivery service, to the Company at its principal executive offices located at 28 Main Street East, Suite 1525, Rochester, New York 14614, Attn: Chief Executive Officer, or to the Holder at the name and address set forth in the Warrant Register maintained by the Company.

 

11.         Choice of Law. THIS WARRANT IS ISSUED UNDER AND SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

 

12.         Venue. THE HOLDER BY RECEIPT OF THIS WARRANT HEREBY CONSENTS TO AND IRREVOCABLY SUBMITS TO PERSONAL JURISDICTION OVER SUCH HOLDER BY THE APPLICABLE STATE OR FEDERAL COURTS OF THE STATE OF NEW YORK, COUNTY OF MONROE, IN ANY ACTION OR PROCEEDING, IRREVOCABLY WAIVES TRIAL BY JURY AND PERSONAL SERVICE OF ANY AND ALL PROCESS AND OTHER DOCUMENTS AND SPECIFICALLY CONSENTS THAT IN ANY SUCH ACTION OR PROCEEDING, ANY SERVICE OF PROCESS MAY BE EFFECTUATED UPON THE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, IN ACCORDANCE WITH SECTION 9 AND WAIVES TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS WARRANT .

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

- 6 -
 

IN WITNESS WHEREOF, the Company has duly caused this Warrant to be signed on its behalf, in its corporate name and by its duly authorized officer, as of this 20th day of February, 2012.

 

  DOCUMENT SECURITY SYSTEMS, INC.
   
  By: /s/ Patrick White
    Name: Patrick White
    Title:  Chief Executive Officer

 

- 7 -
 

 

FORM OF EXERCISE

 

(to be executed by the registered holder hereof)

 

The undersigned hereby exercises the right to purchase _________ shares of common stock, par value $0.02 per share (“Common Stock”), of Document Security Systems, Inc. evidenced by the within Warrant for a Warrant Price of $______ per share and herewith makes payment of the purchase price in full of $__________ in cash. Kindly issue certificates for shares of Common Stock (and for the unexercised balance of the Warrants evidenced by the within Warrant Certificate, if any) in accordance with the instructions given below.

 

 

Dated:____________________ , 20___ .

 

______________________________

 

Instructions for registration of stock

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number:

 

Address:__________________________________

City/State and Zip Code

 

Instructions for registration of certificate representing

the unexercised balance of Warrants (if any)

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number: ___________

 

Address:____________________________________

City, State and Zip Code

 

- 8 -

 

EX-4.2 3 v303337_ex4-2.htm

 

WARRANT

 

DOCUMENT SECURITY SYSTEMS, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

VOID AFTER 5:30 P.M., EASTERN

TIME, ON THE EXPIRATION DATE

 

THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT COMPLIANCE WITH THE REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR APPLICABLE EXEMPTIONS THEREFROM.

 

As consideration for consulting services to be performed under a Consulting Agreement dated February 20, 2012, DOCUMENT SECURITY SYSTEMS, INC., a New York corporation (the “Company”), on even date hereof (the “Issuance Date”) hereby agrees to sell upon the terms and on the conditions hereinafter set forth, but no later than 5:30 p.m., Eastern Time, on the Expiration Date (as hereinafter defined) to ipCAPITAL GROUP, INC. or registered assigns (the “Holder”), two-hundred thousand (200,000) fully paid and non-assessable shares of the Company’s Common Stock, par value $0.02 per share (the “Warrant Stock”), at a price of $4.50 per share (the “Warrant Price”), pursuant to this warrant (this “Warrant”). Holder’s right to purchase under this Warrant shall be subject to and contingent upon (i) the vesting schedule set forth hereunder, and (ii) the Company receiving prior NYSE Amex additional listing approval for the underlying Warrant Stock. The number of shares of Warrant Stock to be so issued and Warrant Price are subject to adjustment in certain events as hereinafter set forth. The term “Common Stock” or “Warrant Stock” shall mean, when used herein, unless the context otherwise requires, the stock receivable upon the exercise of this Warrant.

 

1.          Exercise of Warrant.

 

a.           The Holder may exercise this Warrant according to its terms by (i) surrendering this Warrant, properly endorsed, to the Company at the address set forth in Section 10, (ii) executing the subscription form attached hereto (the “Form of Exercise”), and (iii) submitting payment of the purchase price to the Company for the number of shares of the Warrant Stock specified in the Form of Exercise, or as otherwise provided in this Warrant, prior to 5:30 p.m., Eastern Time, on February 20, 2017 (the “Expiration Date”). Such exercise shall be deemed effected by the surrender of the Warrant, together with a duly executed copy of the Form of Exercise, to Company at its principal office along with payment to the Company of an amount equal to the aggregate Warrant Price for the number of shares of Warrant Stock being purchased in cash, check or bank draft.

 

 
 

 

b.           This Warrant may be exercised in whole or in part. If exercised in part, the Company shall deliver to the Holder a new Warrant, identical in form, in the name of the Holder, evidencing the right to purchase the number of shares of Warrant Stock as to which this Warrant has not been exercised. The term Warrant as used herein shall include any subsequent Warrant issued as provided herein.

 

c.           No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. If any fraction of a Warrant Stock would, except for the provisions of this Section 1(c), be issuable on the exercise of a Warrant, the number of Warrant Stock to be issued by the Company shall be rounded to the nearest whole number, with one-half or greater being rounded up.

 

d.           In the event of any exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Stock so purchased, registered in the name of the Holder, shall be delivered to the Holder within a reasonable time after such rights shall have been so exercised. The person or entity in whose name any certificate for the Warrant Stock is issued upon exercise of the rights represented by this Warrant shall for all purposes be deemed to have become the holder of record of such shares immediately prior to the close of business on the date on which the Warrant was surrendered and payment of the Warrant Price and any applicable taxes was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the opening of business on the next succeeding date on which the stock transfer books are open.

 

2.          Vesting of Warrant. This Warrant shall vest and become exercisable pursuant to the following schedule:

 

(i)          This Warrant shall vest and become exercisable to the extent of 33 1/3% of the Warrant Stock upon each of the first, second and third anniversary dates, respectively, of the Issuance Date.

 

3.          Disposition of Warrant and Warrant Stock.

 

a.           The Holder hereby acknowledges that this Warrant and any Warrant Stock purchased pursuant hereto are, as of the date hereof, not registered: (i) under the Securities Act of 1933, as amended (the “Act”), on the ground that the issuance of this Warrant is exempt from registration under Section 4(2) of the Act and/or Regulation D thereunder as not involving any public offering or (ii) under any applicable state securities law because the issuance of this Warrant does not involve any public offering; and that the Company’s reliance on the Section 4(2) exemption of the Act and/or Regulation D and the other rules and regulations promulgated thereunder, and under applicable state securities laws is predicated in part on the representations hereby made to the Company by the Holder that it is acquiring this Warrant and will acquire the Warrant Stock for investment for its own account, with no present intention of dividing its participation with others or reselling or otherwise distributing the same, subject, nevertheless, to any requirement of law that the disposition of its property shall at all times be within its control.

 

- 2 -
 

 

The Holder hereby agrees that it will not sell or transfer all or any part of this Warrant and/or Warrant Stock unless and until it shall first have given notice to the Company describing such sale or transfer and furnished to the Company either (i) an opinion, satisfactory to counsel for the Company, to the effect that the proposed sale or transfer may be made without registration under the Act and without registration or qualification under any state law, or (ii) an interpretative letter from the Securities and Exchange Commission to the effect that no enforcement action will be recommended if the proposed sale or transfer is made without registration under the Act.

 

b.           If, at the time of issuance of the shares issuable upon exercise of this Warrant, no registration statement is in effect with respect to such shares under applicable provisions of the Act, the Company may at its election require that the Holder provide the Company with written reconfirmation of the Holder’s investment intent and that any stock certificate delivered to the Holder of a surrendered Warrant shall bear legends reading substantially as follows:

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.”

 

In addition, so long as the foregoing legend may remain on any stock certificate delivered to the Holder, the Company may maintain appropriate “stop transfer” orders with respect to such certificates and the shares represented thereby on its books and records and with those to whom it may delegate registrar and transfer functions.

 

4.          Reservation of Shares. The Company hereby agrees that at all times there shall be reserved for issuance upon the exercise of this Warrant such number of shares of its Common Stock as shall be required for issuance upon exercise of this Warrant. The Company further agrees that all shares which may be issued upon the exercise of the rights represented by this Warrant will be duly authorized and will, upon issuance and against payment of the exercise price, be validly issued, fully paid and non-assessable, free from all taxes, liens, charges and preemptive rights with respect to the issuance thereof, other than taxes, if any, in respect of any transfer occurring contemporaneously with such issuance and other than transfer restrictions imposed by federal and state securities laws.

 

5.          Exchange, Transfer or Assignment of Warrant. This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other Warrants of different denominations, entitling the Holder or Holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, along with a duly executed assignment form and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled. This Warrant may be divided or combined with other Warrants that carry the same rights upon presentation hereof at the office of the Company or at the office of its stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof.

 

- 3 -
 

 

6.          Capital Adjustments. This Warrant is subject to the following provisions:

 

A.      Adjustment for Stock Splits, Stock Dividends, Recapitalizations. The number of Warrant Stock issuable upon exercise of each Warrant and the Warrant Price shall each be proportionately adjusted to reflect any stock dividend, stock split, reverse stock split, recapitalization or the like affecting the number of outstanding shares of Common Stock that occurs after the date hereof.

 

B.      Adjustments for Reorganization, Consolidation, Merger. If after the date hereof, the Company (or any other entity, the stock or other securities of which are at the time receivable on the exercise of the Warrants), consolidates with or merges into another entity or conveys all or substantially all of its assets to another entity, then, in each such case, Holder, upon any permitted exercise of a Warrant, at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise of the Warrant prior to such consummation, the stock or other securities or property to which such Holder would have been entitled upon the consummation of such reorganization, consolidation, merger or conveyance if such Holder had exercised the Warrant immediately prior thereto. The successor or purchasing entity in any such reorganization, consolidation, merger or conveyance (if other than the Company) shall duly execute and deliver to Holder a written acknowledgment of such entity’s obligations under the Warrants and this Agreement.

 

C.      Stock Dividends. If the Company at any time while this Warrant is outstanding and unexpired shall issue or pay the holders of its Common Stock, or take a record of the holders of its Common Stock for the purpose of entitling them to receive, a dividend payable in, or other distribution of, Common Stock, then the Warrant Price shall be adjusted as provided in Section 5(C) and the number of shares of Warrant Stock purchasable upon exercise of this Warrant shall be adjusted to the number of shares of Common Stock that the Holder would have owned immediately following such action had this Warrant been exercised immediately prior thereto.

 

D.      Purchase Adjustments. Except as otherwise provided herein, whenever the number of shares of Warrant Stock purchasable upon exercise of this Warrant is adjusted, as herein provided, the Warrant Price payable upon the exercise of this Warrant shall be adjusted to that price determined by multiplying such Warrant Price immediately prior to such adjustment by a fraction (i) the numerator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately thereafter. The number of shares of Common Stock outstanding at any given time for purposes of the adjustments set forth in this Section 5 shall exclude any shares then directly or indirectly held in the treasury of the Company.

 

- 4 -
 

 

E.      Exception to Purchase Adjustments. The Company shall not be required to make any adjustment pursuant to this Section 5 if the amount of such adjustment would be less than one percent (1%) of the Warrant Price in effect immediately before the event that would otherwise have given rise to such adjustment. In such case, however, any adjustment that would otherwise have been required to be made shall be made at the time of and together with the next subsequent adjustment which, together with any adjustment or adjustments so carried forward, shall amount to not less than one percent (1%) of the Warrant Price in effect immediately before the event giving rise to such next subsequent adjustment. Following each computation or readjustment as provided in this Section 5, the new adjusted Warrant Price and number of shares of Warrant Stock purchasable upon exercise of this Warrant shall remain in effect until a further computation or readjustment thereof is required.

 

7.          Notice to Holders.

 

a.            In case:

 

(i)          the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than a cash dividend payable out of earned surplus of the Company) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right;

 

(ii)         of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation with or merger of the Company into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation; or

 

(iii)        of any voluntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case, the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (ii) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution or winding-up. Such notice shall be mailed at least ten (10) days prior to the record date therein specified, or if no record date shall have been specified therein, at least ten (10) days prior to such specified date, provided, however, failure to provide any such notice shall not affect the validity of such transaction.

 

8.          Loss, Theft, Destruction or Mutilation. Upon receipt by the Company of evidence satisfactory to it, in the exercise of its reasonable discretion, of the ownership and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and, in the case of mutilation, upon surrender and cancellation thereof, the Company will execute and deliver in lieu thereof, without expense to the Holder, a new Warrant of like tenor dated the date hereof.

 

- 5 -
 

 

9.          Warrant Holder Not a Stockholder. The Holder of this Warrant, as such, shall not be entitled by reason of this Warrant to any rights whatsoever as a stockholder of the Company.

 

10.         Notices. Any notice required or contemplated by this Warrant shall be deemed to have been duly given if transmitted by registered or certified mail, return receipt requested, or nationally recognized overnight delivery service, to the Company at its principal executive offices located at 28 Main Street East, Suite 1525, Rochester, New York 14614, Attn: Chief Executive Officer, or to the Holder at the name and address set forth in the Warrant Register maintained by the Company.

 

11.         Choice of Law. THIS WARRANT IS ISSUED UNDER AND SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

 

12.         Venue. THE HOLDER BY RECEIPT OF THIS WARRANT HEREBY CONSENTS TO AND IRREVOCABLY SUBMITS TO PERSONAL JURISDICTION OVER SUCH HOLDER BY THE APPLICABLE STATE OR FEDERAL COURTS OF THE STATE OF NEW YORK, COUNTY OF MONROE, IN ANY ACTION OR PROCEEDING, IRREVOCABLY WAIVES TRIAL BY JURY AND PERSONAL SERVICE OF ANY AND ALL PROCESS AND OTHER DOCUMENTS AND SPECIFICALLY CONSENTS THAT IN ANY SUCH ACTION OR PROCEEDING, ANY SERVICE OF PROCESS MAY BE EFFECTUATED UPON THE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, IN ACCORDANCE WITH SECTION 9 AND WAIVES TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS WARRANT .

 

[REMAINDER OF PAGE INTENTIONALLY BLANK – SIGNATURE PAGE FOLLOWS]

 

- 6 -
 

 

IN WITNESS WHEREOF, the Company has duly caused this Warrant to be signed on its behalf, in its corporate name and by its duly authorized officer, as of this 20th day of February, 2012.

 

  DOCUMENT SECURITY SYSTEMS, INC.
   
  By: /s/ Patrick White
    Name: Patrick White
    Title:  Chief Executive Officer

 

- 7 -
 

 

FORM OF EXERCISE

 

(to be executed by the registered holder hereof)

 

The undersigned hereby exercises the right to purchase _________ shares of common stock, par value $0.02 per share (“Common Stock”), of Document Security Systems, Inc. evidenced by the within Warrant for a Warrant Price of $______ per share and herewith makes payment of the purchase price in full of $__________ in cash. Kindly issue certificates for shares of Common Stock (and for the unexercised balance of the Warrants evidenced by the within Warrant Certificate, if any) in accordance with the instructions given below.

 

Dated:____________________ , 20___ .

 

______________________________

 

Instructions for registration of stock

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number:

 

Address:__________________________________

City/State and Zip Code

 

Instructions for registration of certificate representing

the unexercised balance of Warrants (if any)

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number: ___________

 

Address:____________________________________

City, State and Zip Code

 

- 8 -

 

EX-4.3 4 v303337_ex4-3.htm

  

WARRANT

 

DOCUMENT SECURITY SYSTEMS, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

VOID AFTER 5:30 P.M., EASTERN

TIME, ON THE EXPIRATION DATE

 

THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT COMPLIANCE WITH THE REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR APPLICABLE EXEMPTIONS THEREFROM.

 

As consideration for consulting services performed pursuant to a Consulting Agreement, DOCUMENT SECURITY SYSTEMS, INC., a New York corporation (the “Company”), on even date herewith (the “Issuance Date”) hereby agrees to sell upon the terms and on the conditions hereinafter set forth, but no later than 5:30 p.m., Eastern Time, on the Expiration Date (as hereinafter defined) to CENTURY MEDIA GROUP or registered assigns (the “Holder”), one-hundred thousand (250,000) fully paid and non-assessable shares of the Company’s common stock, par value $0.02 per share (the “Common Stock” or “Warrant Stock”), at the per share purchase prices set forth in Section 2 hereof (the “Warrant Prices”), pursuant to this warrant (this “Warrant”). Holder’s right to purchase under this Warrant shall be subject to and contingent upon the Company receiving prior NYSE Amex additional listing approval for the underlying Warrant Stock. The number of shares of Warrant Stock to be so issued and the Warrant Price are subject to adjustment in certain events as hereinafter set forth. The term “Common Stock” or “Warrant Stock” shall mean, when used herein, unless the context otherwise requires, the stock receivable upon the exercise of this Warrant.

 

1.          Exercise of Warrant.

 

a.           The Holder may exercise this Warrant according to its terms by (i) surrendering this Warrant, properly endorsed, to the Company at the address set forth in Section 10, (ii) executing the subscription form attached hereto (the “Form of Exercise”), and (iii) making payment of the purchase price to the Company for the number of shares of the Warrant Stock specified in the Form of Exercise, or as otherwise provided in this Warrant, prior to 5:30 p.m., Eastern Time, on April 20, 2013 (the “Expiration Date”). Such exercise shall be deemed effected by the surrender of the Warrant, together with a duly executed copy of the Form of Exercise, to Company at its principal office along with payment to the Company of an amount equal to the aggregate Warrant Price for the number of shares of Warrant Stock being purchased in cash, check or bank draft.

 

 
 

 

b.           This Warrant may be exercised in whole or in part. If exercised in part, the Company shall deliver to the Holder a new Warrant, identical in form, in the name of the Holder, evidencing the right to purchase the number of shares of Warrant Stock as to which this Warrant has not been exercised. The term Warrant as used herein shall include any subsequent Warrant issued as provided herein.

 

c.           No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. If any fraction of a Warrant Stock would, except for the provisions of this Section 1(c), be issuable on the exercise of a Warrant, the number of Warrant Stock to be issued by the Company shall be rounded to the nearest whole number, with one-half or greater being rounded up.

 

d.           In the event of any exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Stock so purchased, registered in the name of the Holder, shall be delivered to the Holder within a reasonable time after such rights shall have been so exercised. The person or entity in whose name any certificate for the Warrant Stock is issued upon exercise of the rights represented by this Warrant shall for all purposes be deemed to have become the holder of record of such shares immediately prior to the close of business on the date on which the Warrant was surrendered and payment of the Warrant Price and any applicable taxes was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the opening of business on the next succeeding date on which the stock transfer books are open.

 

2.          Vesting and Warrant Prices. This Warrant shall vest on February 20, 2012 (the “Issuance Date”) and is exercisable pursuant to the following schedule:

 

(i)          50,000 shares of Warrant Stock at $4.50 per share;

 

(ii)         50,000 shares of Warrant Stock at $4.75 per share;

 

(iii)        50,000 shares of Warrant Stock at $5.00 per share;

 

(iv)        50,000 shares of Warrant Stock at $5.25 per share;

 

(v)         50,000 shares of Warrant Stock at $6.00 per share.

 

3.          Disposition of Warrant and Warrant Stock.

 

a.           The Holder hereby acknowledges that this Warrant and any Warrant Stock purchased pursuant hereto are, as of the date hereof, not registered: (i) under the Securities Act of 1933, as amended (the “Act”), on the ground that the issuance of this Warrant is exempt from registration under Section 4(2) of the Act and/or Regulation D thereunder as not involving any public offering or (ii) under any applicable state securities law because the issuance of this Warrant does not involve any public offering; and that the Company’s reliance on the Section 4(2) exemption of the Act and/or Regulation D and the other rules and regulations promulgated thereunder, and under applicable state securities laws is predicated in part on the representations hereby made to the Company by the Holder that it is acquiring this Warrant and will acquire the Warrant Stock for investment for its own account, with no present intention of dividing its participation with others or reselling or otherwise distributing the same, subject, nevertheless, to any requirement of law that the disposition of its property shall at all times be within its control.

 

- 2 -
 

 

The Holder hereby agrees that it will not sell or transfer all or any part of this Warrant and/or Warrant Stock unless and until it shall first have given notice to the Company describing such sale or transfer and furnished to the Company either (i) an opinion, satisfactory to counsel for the Company, to the effect that the proposed sale or transfer may be made without registration under the Act and without registration or qualification under any state law, or (ii) an interpretative letter from the Securities and Exchange Commission to the effect that no enforcement action will be recommended if the proposed sale or transfer is made without registration under the Act.

 

b.           If, at the time of issuance of the shares issuable upon exercise of this Warrant, no registration statement is in effect with respect to such shares under applicable provisions of the Act, the Company may at its election require that the Holder provide the Company with written reconfirmation of the Holder’s investment intent and that any stock certificate delivered to the Holder of a surrendered Warrant shall bear legends reading substantially as follows:

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.”

 

In addition, so long as the foregoing legend may remain on any stock certificate delivered to the Holder, the Company may maintain appropriate “stop transfer” orders with respect to such certificates and the shares represented thereby on its books and records and with those to whom it may delegate registrar and transfer functions.

 

4.          Reservation of Shares. The Company hereby agrees that at all times there shall be reserved for issuance upon the exercise of this Warrant such number of shares of its Common Stock as shall be required for issuance upon exercise of this Warrant. The Company further agrees that all shares which may be issued upon the exercise of the rights represented by this Warrant will be duly authorized and will, upon issuance and against payment of the exercise price, be validly issued, fully paid and non-assessable, free from all taxes, liens, charges and preemptive rights with respect to the issuance thereof, other than taxes, if any, in respect of any transfer occurring contemporaneously with such issuance and other than transfer restrictions imposed by federal and state securities laws.

 

- 3 -
 

 

5.          Exchange, Transfer or Assignment of Warrant. This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other Warrants of different denominations, entitling the Holder or Holders thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, along with a duly executed assignment form and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in such instrument of assignment and this Warrant shall promptly be canceled. This Warrant may be divided or combined with other Warrants that carry the same rights upon presentation hereof at the office of the Company or at the office of its stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof.

 

6.          Capital Adjustments. This Warrant is subject to the following provisions:

 

A.      Adjustment for Stock Splits, Stock Dividends, Recapitalizations. The number of Warrant Stock issuable upon exercise of each Warrant and the Warrant Price shall each be proportionately adjusted to reflect any stock dividend, stock split, reverse stock split, recapitalization or the like affecting the number of outstanding shares of Common Stock that occurs after the date hereof.

 

B.      Adjustments for Reorganization, Consolidation, Merger. If after the date hereof, the Company (or any other entity, the stock or other securities of which are at the time receivable on the exercise of the Warrants), consolidates with or merges into another entity or conveys all or substantially all of its assets to another entity, then, in each such case, Holder, upon any permitted exercise of a Warrant, at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise of the Warrant prior to such consummation, the stock or other securities or property to which such Holder would have been entitled upon the consummation of such reorganization, consolidation, merger or conveyance if such Holder had exercised the Warrant immediately prior thereto. The successor or purchasing entity in any such reorganization, consolidation, merger or conveyance (if other than the Company) shall duly execute and deliver to Holder a written acknowledgment of such entity’s obligations under the Warrants and this Agreement.

 

C.      Stock Dividends. If the Company at any time while this Warrant is outstanding and unexpired shall issue or pay the holders of its Common Stock, or take a record of the holders of its Common Stock for the purpose of entitling them to receive, a dividend payable in, or other distribution of, Common Stock, then the Warrant Price shall be adjusted as provided in Section 5(C) and the number of shares of Warrant Stock purchasable upon exercise of this Warrant shall be adjusted to the number of shares of Common Stock that the Holder would have owned immediately following such action had this Warrant been exercised immediately prior thereto.

 

D.      Purchase Adjustments. Except as otherwise provided herein, whenever the number of shares of Warrant Stock purchasable upon exercise of this Warrant is adjusted, as herein provided, the Warrant Price payable upon the exercise of this Warrant shall be adjusted to that price determined by multiplying such Warrant Price immediately prior to such adjustment by a fraction (i) the numerator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately prior to such adjustment, and (ii) the denominator of which shall be the number of shares of Warrant Stock purchasable upon exercise of this Warrant immediately thereafter. The number of shares of Common Stock outstanding at any given time for purposes of the adjustments set forth in this Section 5 shall exclude any shares then directly or indirectly held in the treasury of the Company.

 

- 4 -
 

 

E.      Exception to Purchase Adjustments. The Company shall not be required to make any adjustment pursuant to this Section 5 if the amount of such adjustment would be less than one percent (1%) of the Warrant Price in effect immediately before the event that would otherwise have given rise to such adjustment. In such case, however, any adjustment that would otherwise have been required to be made shall be made at the time of and together with the next subsequent adjustment which, together with any adjustment or adjustments so carried forward, shall amount to not less than one percent (1%) of the Warrant Price in effect immediately before the event giving rise to such next subsequent adjustment. Following each computation or readjustment as provided in this Section 5, the new adjusted Warrant Price and number of shares of Warrant Stock purchasable upon exercise of this Warrant shall remain in effect until a further computation or readjustment thereof is required.

 

7.          Notice to Holders.

 

a.           In case:

 

(i)          the Company shall take a record of the holders of its common stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than a cash dividend payable out of earned surplus of the Company) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right;

 

(ii)         of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation with or merger of the Company into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation; or

 

(iii)        of any voluntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case, the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (ii) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution or winding-up. Such notice shall be mailed at least ten (10) days prior to the record date therein specified, or if no record date shall have been specified therein, at least ten (10) days prior to such specified date, provided, however, failure to provide any such notice shall not affect the validity of such transaction.

 

- 5 -
 

 

8.          Loss, Theft, Destruction or Mutilation. Upon receipt by the Company of evidence satisfactory to it, in the exercise of its reasonable discretion, of the ownership and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and, in the case of mutilation, upon surrender and cancellation thereof, the Company will execute and deliver in lieu thereof, without expense to the Holder, a new Warrant of like tenor dated the date hereof.

 

9.          Warrant Holder Not a Stockholder. The Holder of this Warrant, as such, shall not be entitled by reason of this Warrant to any rights whatsoever as a stockholder of the Company.

 

10.         Notices. Any notice required or contemplated by this Warrant shall be deemed to have been duly given if transmitted by registered or certified mail, return receipt requested, or nationally recognized overnight delivery service, to the Company at its principal executive offices located at 28 Main Street East, Suite 1525, Rochester, New York 14614, Attn: Chief Executive Officer, or to the Holder at the name and address set forth in the Warrant Register maintained by the Company.

 

11.         Choice of Law. THIS WARRANT IS ISSUED UNDER AND SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES OF CONFLICTS OF LAW.

 

12.         Venue. THE HOLDER BY RECEIPT OF THIS WARRANT HEREBY CONSENTS TO AND IRREVOCABLY SUBMITS TO PERSONAL JURISDICTION OVER SUCH HOLDER BY THE APPLICABLE STATE OR FEDERAL COURTS OF THE STATE OF NEW YORK, COUNTY OF MONROE, IN ANY ACTION OR PROCEEDING, IRREVOCABLY WAIVES TRIAL BY JURY AND PERSONAL SERVICE OF ANY AND ALL PROCESS AND OTHER DOCUMENTS AND SPECIFICALLY CONSENTS THAT IN ANY SUCH ACTION OR PROCEEDING, ANY SERVICE OF PROCESS MAY BE EFFECTUATED UPON THE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, IN ACCORDANCE WITH SECTION 9 AND WAIVES TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS WARRANT .

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

- 6 -
 

 

IN WITNESS WHEREOF, the Company has duly caused this Warrant to be signed on its behalf, in its corporate name and by its duly authorized officer, as of this 20th day of February, 2012.

 

  DOCUMENT SECURITY SYSTEMS, INC.
   
  By: /s/ Patrick White
    Name: Patrick White
    Title:  Chief Executive Officer

 

- 7 -
 

 

FORM OF EXERCISE

 

(to be executed by the registered holder hereof)

 

The undersigned hereby exercises the right to purchase _________ shares of common stock, par value $0.02 per share (“Common Stock”), of Document Security Systems, Inc. evidenced by the within Warrant for a Warrant Price of $______ per share and herewith makes payment of the purchase price in full of $__________ in cash. Kindly issue certificates for shares of Common Stock (and for the unexercised balance of the Warrants evidenced by the within Warrant Certificate, if any) in accordance with the instructions given below.

 

Dated:____________________ , 20___ .

 

______________________________

 

Instructions for registration of stock

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number:

 

Address:__________________________________

City/State and Zip Code

 

Instructions for registration of certificate representing

the unexercised balance of Warrants (if any)

 

_____________________________

Name (Please Print)

 

Social Security or other identifying Number: ___________

 

Address:____________________________________

City, State and Zip Code

 

- 8 -

 

EX-10.1 5 v303337_ex10-1.htm

 

 

February 20, 2012

 

Patrick White

CEO

Document Security Systems, Inc.

28 East Main Street, Suite 1525

Rochester, NY 14614

 

RE: Strategic Alliance and Engagement for IP Strategy Execution in 2012

 

Dear Mr. White:

 

We understand that Document Security Systems, Inc. (“DSS”), would like ipCapital Group, Inc. (“ipCG”) to assist in the execution of its IP strategy using our expert tools for invention, IP strengthening, and process management. We are delighted to be entering a long-term trusted advisor and strategic alliance relationship with DSS that we believe will result in the creation of substantial business value.

 

This letter sets forth the terms of our proposed engagement and services ipCG will perform for DSS in the scope of work described below. In addition to this engagement letter, ipCG and DSS will execute a stock options or warrant agreement to align interests toward the highest levels of value creation.

 

We will use DSS’s IP strategy and ipLandscape® framework (to be delivered under previous ipCG/DSS engagement letter dated Jan. 10, 2012) as our guide for facilitated invention activities that we expect will result in dozens of new patent applications filed over the course of 2012. We will also facilitate installation of best practices for trade secret management and IP marketing communications, and serve as a general advisor on strategic IP activities to ensure DSS develops a high-quality IP portfolio that serves the business strategy.

 

Our engagement will require close collaboration with DSS’s executive management, engineers, designers, and patent counsel in an efficient team-based approach.

 

If you have any questions or require additional information, please feel free to contact us at any time. We are looking forward to working with you on this important effort.

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

 
 

 

 

SCOPE OF WORK: SUPPORT IP STRATEGY EXECUTION IN 2012

 

Part 1. Facilitate Eight (8) Full-Day Invention Sessions Using ipCG’s Proprietary Expert Tools

 

ipCG will facilitate a total of eight (8) full-day invention sessions with the DSS team using our expert tools for invention capture and IP strengthening. This work is required to create a significant and strategic invention inventory on the front-end of new patent application development.

 

The focus areas for the various invention sessions will be defined and prioritized based on DSS’s IP strategy and supporting business and technical information. The invention focus areas are also subject to change should emerging business strategies, issues, or events require revisions to the IP strategy over the course of the year. ipCG and DSS will discuss and agree upon any such modifications to the focus areas of the contemplated invention sessions on a case-by-case basis as needed.

 

The cash fee for each facilitated full-day invention session is $30,000, which will amount to $240,000 for all eight (8) sessions. See Detailed Work Steps below for additional information on the ipScan®, Invention on Demand®, and ipNavigationSM invention processes that will be deployed as appropriate based on the DSS’s IP strategy.

 

Detailed Work Steps for Services Provided in Part 1 of the Scope of Work

 

This section outlines the work steps associated with each of the services ipCG will provide to DSS in Part 1 of the Scope of Work. Note that the ipScan®, Invention on Demand®, and ipNavigationSM processes may each be deployed multiple times based on the invention focus areas defined by DSS’s IP strategy.

 

A. Facilitated Invention Extraction Sessions (ipScan® Process)

 

ipCG will use its proprietary ipScan® process to systematically extract existing invention concepts from DSS’s team and then help to broaden them across multiple thinking axes to capture potential IP across DSS’s ipLandscape® frameworks. This potential IP will be documented and categorized to build a thorough inventory that can be reviewed for further IP documentation, such as invention disclosures, patent applications, enabled publications, or documented trade secrets. Typically, a full-day ipScan® workshop captures 50-100 concepts.

 

Specifically, ipCG will:

 

1.Schedule a conference call with DSS to confirm the objectives and focus areas for the session

 

2.Facilitate an ipScan® invention extraction session(s) with DSS’s key inventive team onsite in Rochester, NY or at ipCG’s office in Williston, VT

 

3.Develop brief titles and abstracts for the invention ideas captured in the session, along with the relevant ipLandscape® categories

 

4.Schedule a conference call with DSS and Patent Counsel as required to review the results along with first-pass prioritization of invention ideas for further IP documentation

  

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

2
 

 

 

B. Facilitated Invent-Around Sessions (ipNavigationSM Process)

 

ipCG will use its proprietary ipNavigationSM invent-around process and associated “checklist” to identify additional potential inventions that may be added to or around DSS’s existing patents and patent applications to enhance the overall strength of the core IP. This process results in a thorough inventory of invention concepts that can be reviewed for further IP documentation, such as new patent claims, invention disclosures, patent applications, provisionals, enabled publications, or documented trade secrets. Typically, a full-day ipNavigationSM session workshop captures 50-100 concepts.

 

Specifically, ipCG will:

 

1.Schedule a conference call with DSS to confirm the objectives and focus areas for the session

 

2.Review the subject IP documents to be targeted in the session (i.e., specific patents or patent applications)

 

3.Facilitate an ipNavigationSM invent-around session(s) with DSS’s key inventive team onsite in Rochester, NY or at ipCG’s office in Williston, VT. Note that ipNavigationSM sessions may be conducted by web meeting to facilitate scheduling and minimize costs.

 

4.Develop brief titles and abstracts for the invention ideas captured in the session, along with the relevant ipLandscape® categories

 

5.Schedule a conference call with DSS and Patent Counsel as required to review the results along with first-pass prioritization of invention ideas for further IP documentation

  

C. Facilitated Directed Invention Sessions (Invention on Demand® Process)

 

ipCG’s Invention on Demand® (IOD®) process identifies problems and elements that accelerate and direct new invention using creativity tools. ipCG will use its proprietary process to assist DSS in the discovery of new potential inventions that have possible technical operability in strategic areas defined by the IP strategy and other inputs. This process will further expand the inventory of DSS’s existing invention ideas extracted through the ipScan® process.

 

Specifically, ipCG will:

 

1.Schedule a conference call with DSS to confirm the objectives and focus areas for the session

 

2.Facilitate an Invention on Demand® session(s) with DSS’s key inventive team onsite in Rochester, NY or at ipCG’s office in Williston, VT

 

3.Develop brief titles and abstracts for the invention ideas captured in the session, along with the relevant ipLandscape® categories

 

4.Schedule a conference call with DSS and Patent Counsel as required to review the results along with first-pass prioritization of invention ideas for further IP documentation

  

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

3
 

 

 

Part 2. Retainer for IP Process Engineering and Management Support in 2012

 

ipCG will provide as-needed IP process engineering and management support to DSS above and beyond the facilitated invention sessions described in Part 1. This will ensure that all of the strategic action items described in DSS’s IP strategy report (to be delivered under previous ipCG/DSS engagement letter dated Jan. 10, 2012) are executed in a cost-effective manner leveraging ipCG’s expertise and best-practices. ipCG consultants will support DSS in a range of IP management activities under a retainer that includes a maximum total fee of $125,000 during 2012 at daily consulting rates. For reference, full utilization of the retainer would result in approximately three to four man-days of time per month for ipCG Senior Advisors / Managers over the course of 2012. Possible support activities include, but are not limited to, the following:

 

·Facilitate meetings to prioritize the output of ipCG invention sessions for IP development
·Help manage DSS’s Patent Counsel and disclosure writers to ensure high-quality work
·Define and install a trade secret policy and management process
·Regularly extract trade secrets from DSS’s staff and document them in a repository
·Define a strategy and process for IP marketing communications in press releases, web, etc.
·Support IP due diligence on external business opportunities for DSS, such as M&A
·Define and implement IP process integrated in DSS’s new product development process

 

These activities will be managed and executed primarily by ipCG Senior Advisors and Managers. ipCG Associates and Analysts will support Senior Advisors and Managers as needed on documentation, data analyses, and other detailed tasks at lower daily rates to maximize cost-effectiveness for DSS.

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

4
 

 

 

DELIVERABLES

 

Professional Services:   Deliverables:
 
Part 1: Facilitate Eight (8) Full-Day Invention Sessions Using ipCG’s Proprietary Expert Tools
       
A. Facilitated Invention Extraction Sessions (ipScan® Process)     ipCG will develop a single unified Excel worksheet to document titles, brief abstracts, ipLandscape® categorization, and tracking data for the invention ideas captured in the ipScan®, Invention on Demand®, and ipNavigationSM sessions. ipCG will add new “invention records” to build the Excel worksheet as the sessions are completed.
     
B. Facilitated Invent-Around Sessions (ipNavigationSM Process)    
     
C. Facilitated Directed Invention Sessions (Invention on Demand® Process)    
 
Part 2: Retainer for IP Process Engineering and Management Support in 2012
 
Documentation and training of IP processes, IP management support, and other strategic advice as needed

 

COLLABORATION WITH DSS AND PATENT COUNSEL

 

ipCG will work closely with DSS to execute the proposed Scope of Work. DSS’s involvement will include participation in invention sessions, follow-up calls, and other meetings as required to review ipCG’s work products and make final decisions regarding IP development.

 

Please note that ipCG’s Scope of Work does not include drafting detailed invention disclosures or prosecuting patent applications. ipCG does not practice law. We will collaborate closely with DSS’s Patent Counsel to review our work products and transfer the information (e.g., invention abstracts generated by the ipScan®, Invention on Demand®, and ipNavigationSM invention processes) to Counsel and/or other designated technical writers for inclusion in detailed invention disclosures and patent applications as required.

 

Should DSS and its Patent Counsel require assistance in developing detailed invention disclosures to support new patent applications, ipCG and DSS may explore a separate arrangement at that time in which ipCG directly manages this activity.

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

5
 

 

 

Under the scope of this engagement, ipCG will perform the services described in the table below entitled “Professional Services and Fees” (hereinafter referred to as “Services”) in accordance with the following terms and conditions:

 

1.          Professional Services and Fees

 

Professional Services   Cash Fees
Part 1: Facilitate Eight (8) Full-Day Invention Sessions Using ipCG’s Proprietary Expert Tools  

$30,000 per full-day session

($240,000 total for 8 days)

Part 2: Retainer for IP Process Engineering and Management Support in 2012   Maximum of $125,000 total based on daily rates for 2012 (see table below)
Total   Maximum of $365,000

 

ipCG’s daily rates for this engagement as follows. These rates will be applied to ipCG staff time spent executing Part 2 of the Scope of Work.

 

ipCG Staff   Daily Rates
Principals, Senior Advisors, and Managers   $3,500 / day
Associates and Analysts   $2,200 / day

 

In addition to the cash fees described above, DSS will issue to ipCG options or warrants to purchase 100,000 shares of DSS common stock according to the terms and conditions defined in a separate options or warrants agreement to be executed by ipCG and DSS simultaneously herewith.

 

Should DSS request additional meetings, reports, analyses, or services outside the scope of the Services, the scope of such services and fees will be mutually agreed upon in writing between ipCG and DSS.

 

2.          Timing & Delivery.   Work can begin upon acceptance of the terms in this engagement letter. ipCG and DSS shall mutually agree upon a project schedule.

 

3.          Resources. Jed Cahill, Senior Manager, will oversee the Services with DSS and provide guidance and support within the scope of the project. Additional company resources will be utilized as required. ipCG will work in a close, collaborative manner with DSS to execute the Services. Because of the highly interactive nature of this work, the availability of DSS’s management and key technical personnel will be critical to the completion of the project. DSS agrees to provide ipCG with its full assistance and cooperation including, but not limited to, providing all information as may be necessary or reasonable for ipCG to discharge its duties under this engagement letter and making the appropriate DSS personnel available to enable ipCG to obtain such DSS information.

 

4.          Compensation. The maximum aggregate fee for Services is $365,000.00 (“Contract Total”). DSS agrees to pay ipCG $30,000 upon execution of this engagement letter to initiate the first Service in Part 1 of the Scope of Work. DSS agrees to pay the fee associated with each subsequent Service in Part 1 at initiation. For Services in Part 2 of the Scope of Work (i.e., retainer), ipCG will provide monthly invoices for fees calculated based upon the specified daily rates and payable within ten (10) days from date of the invoice for Services. DSS also agrees to reimburse ipCG for all reasonable, preapproved, out of pocket expenses estimated at 15% - 20% of fees. Reimbursable expenses will be included in invoices as they are incurred together with appropriate documentation of such expenses. DSS shall pay all charges and fees in U.S. Dollars. Additionally, DSS agrees to pay any legal and/or travel expenses incurred by ipCG in relation to DSS (e.g., depositions, other legal proceedings, etc.).

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

6
 

 

 

5.          Late Payment/Interest. If payment in full is not received within 10 days from the invoice due date, as defined in mutually signed agreement(s), DSS is subject to interest fees, along with costs of collection incurred by ipCG, including but not limited to, collection agency fees and reasonable attorney’s fees (whether or not suit is brought to affect such collection). The interest fees will be calculated per day of actual delay, from the due date of invoice, and based on the maximum rate of interest or fee allowed by law.

 

6.          Confidential Nature. ipCG and DSS agree that the terms and conditions of the Mutual Non-Disclosure Agreement (“NDA”) executed or intended to be executed by ipCG and DSS simultaneously herewith, shall govern and control the manner in which Confidential Information (defined below) is protected. The term Confidential Information shall have the meaning set forth in the NDA.

 

7.          Independent Contractor. The parties are and shall be independent contractors to one another, and nothing herein shall be deemed to cause these services to create an agency, partnership, or joint venture between the parties. Further, nothing in this engagement letter shall be interpreted or construed as creating or establishing the relationship of employer and employee between DSS and either ipCG or any employee of ipCG.

 

8.           Warranty. The services are warranted to conform substantially to the services described in Section 1 entitled “Professional Services and Fees.” As the exclusive remedy for any breach of this warranty, ipCG shall reperform Services at no cost to DSS necessary to remedy or avoid any condition that results in the services not performing as warranted above. This warranty is conditioned upon receipt by ipCG of DSS’s written notice of all claimed breaches within sixty (60) days of the date of delivery of the services. DSS ACKNOWLEDGES THAT NO EXPRESS WARRANTIES HAVE BEEN MADE BY IPCG EXCEPT FOR THE LIMITED WARRANTY MADE IN THIS PARAGRAPH. THIS LIMITED WARRANTY AND THE ASSOCIATED LIMITED REMEDY IS PROVIDED BY IPCG IN LIEU OF ALL OTHER WARRANTIES AND REMEDIES RELATED TO PERFORMANCE OF THE SERVICES. IPCG DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

 

9.           DSS agrees that ipCG’s AGGREGATE MONETARY liability FOR ALL CAUSES (REGARDLESS OF THE FORM OF ACTION) UNDER OR RELATING TO THIS AGREEMENT, WHETHER PRIOR OR SUBSEQUENT TO ITS EXECUTION OR TERMINATION, SHALL IN NO EVENT EXCEED THE TOTAL OF ALL AMOUNTS PAID TO IPCG BY DSS FOR THE SERVICES GIVING RISE TO SUCH LIABILITY. DSS will indemnify and hold harmless ipCG and its personnel from any claims, liabilities, costs, and expenses that arise, for any reason, related to the delivery of the Services pursuant to this agreement, including, without limitation, costs and reasonable attorneys’ fees incurred in connection with responding to subpoenas related to DSS and/or the services.

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

7
 

 

 

10.         Taxes. All charges for the sale or delivery of services purchased or licensed pursuant to this engagement letter, unless otherwise noted, are exclusive of applicable taxes. Excluding taxes on ipCG’s income, DSS agrees to pay any current or future applicable tax which ipCG may be required to pay or collect and which is imposed on the sale or delivery or services purchased or licensed in this engagement letter. Such taxes may include, but are not limited to, state and local privilege, excise, sales, services, withholding, and use. DSS’s obligation to pay taxes includes any interest. To the extent ipCG has not collected and remitted any applicable tax for DSS in reliance upon an erroneous representation of DSS as to its tax status, DSS’s obligation to pay taxes shall include any penalties imposed by any taxing authorities.

 

11. Governing Law. This engagement letter shall be construed in accordance with and governed for all purposes by the Uniform Trade Secrets Act and otherwise by the law of the State of New York, without regard to its principles regarding conflicts of law.

 

12. Document Retention Policy. DSS acknowledges and agrees that, upon the conclusion of ipCG’s provision of Services hereunder, ipCG shall destroy all documents and electronic media related to the Services, except for the final deliverable(s).

 

13.         Entire Agreement. This engagement letter and the NDA reflect the entire agreement between ipCG and DSS related to the Services described in this letter. It replaces and supersedes any previous proposals, correspondence, and understandings, whether written or oral. The agreements of ipCG and DSS contained in this letter shall survive the completion of the Services or termination of this letter. In the event of any inconsistency between the NDA and this letter, the terms of the NDA will govern unless this letter specifically references a paragraph of the NDA and expressly states that such paragraph is intended to be amended by this engagement letter. Subject to the preceding sentence, any terms or conditions in this engagement letter which conflict with NDA shall have no force or effect.

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

8
 

 

 

Please confirm your agreement with the foregoing by signing a copy of this letter and returning it to ipCG. We are pleased to have this opportunity to be of service to you.

 

Very truly yours,

ipCapital Group, Inc.

 

By:  /s/ Robert McDonald  
   
Name:  Robert McDonald  
   
Title:  Managing Director and President  
   
Date: 02/20/12  

 

DSS agrees to, accepts, and acknowledges the foregoing terms and conditions pursuant to which ipCapital Group, Inc. will provide services to DSS.

 

By:  /s/ Patrick White  
   
Name: Patrick White  
   
Title:  CEO  
   
Date:  02/20/12  

 

400 Cornerstone Drive, Suite 325 - Williston, VT 05495-4046

(802) 872.3200 - Toll Free (888) 853.2212

fax: (802) 288.9468 - www.ipcg.com

 

9

 

EX-10.2 6 v303337_ex10-2.htm

 

CONSULTING AGREEMENT

 

THIS CONSULTING AGREEMENT (the “Agreement”) is made as of the 20th day of February, 2012 (the “Effective Date”), by and between DOCUMENT SECURITY SYSTEMS, INC. (“DSS” or “Company”) and ipCAPITAL GROUP, INC. (“Consultant”).

 

RECITALS:

 

WHEREAS, Consultant is engaged in business of digital business and intellectual property consulting;

 

WHEREAS, Company is engaged in the business of, among other things, developing, licensing and selling anti-counterfeiting technologies, processes, services and products providing protection against a wide range of security threats, including forgery, counterfeiting and unauthorized copying, scanning and photo imaging;

 

WHEREAS, Company desires to retain Consultant to provide the consulting services (as defined in Section 2(a), below) set forth in this Agreement; and

 

WHEREAS, Company and Consultant recognize that in the course of providing the consulting services, Consultant will be exposed to and have access to certain confidential information of Company and that there is a need for Company to protect such confidential information from unauthorized use and disclosure.

 

PROVISIONS:

 

NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, and for other good and valuable consideration the receipt and sufficiency of which are expressly acknowledged, the parties hereby agree as follows:

 

1.         Appointment. By this Agreement, the Company appoints Consultant, and Consultant accepts such appointment, to provide advice and consulting services to the Company, in accordance with the terms and conditions of this Agreement.

 

2.          Duties and Responsibilities.

 

(a)  Services. During the term of this Agreement Consultant shall perform the services described in this Section 2(a) (collectively, the “Services”):

 

(i)Ongoing Consulting Services with respect to DSS:

 

·Provision of strategic advice to DSS senior management on development of DSS Digital Group infrastructure and business (cloud computing).

 

(b) Hours of Consulting. Consultant shall devote whatever time Consultant deems necessary to performance of the Services during the Term.

 

DSS Consulting Agreement  
 

 

(c) Scheduling. The Consultant will develop and maintain a detailed schedule for completion of Services. The schedule will consist of a written work plan showing activities to be performed and their sequence.

 

3.          Term and Termination.

 

(a) Term. Unless earlier terminated as provided in this Section 3, the term (“Term”) of this Agreement shall commence on the Effective Date and shall continue until the third anniversary of the Effective Date, unless earlier terminated by mutual agreement of the parties or in accordance with Sections 3(b) or 3(c) hereunder.

 

(b) Breach with Right to Cure. Either party may terminate this Agreement in the event the other party materially breaches this Agreement and fails to cure such breach within fifteen (15) days after receiving written notice of such breach.

 

(c) Breach of Representations and Warranties. Company may terminate this Agreement immediately upon notice to Consultant in the event of any breach by Consultant of Section 5 hereof, or of any material provision of any non-disclosure agreement (“NDA”) currently in effect between the parties.

 

(d) Survival. Upon termination of this Agreement the provisions of Sections 5 and 6(b) hereof, and any other provision that by its nature survives termination of this Agreement, shall survive termination of this Agreement.

 

4.          Compensation and Expenses.

 

(a) Compensation. In consideration for Consultant’s performance of the Services described in Sections 2(a)(i) hereof during the Term of this Agreement, Company shall compensate Consultant by issuing a five-year warrant (the “Warrant”) to purchase up to 200,000 shares of DSS Common Stock (the “Warrant Stock”) at a price of $4.50 per share (the “Warrant Price”), to vest in equal installments of 33 1/3% on each of the first, second and third anniversaries following the issuance date of the Warrant. A copy of the form Warrant is annexed hereto as Exhibit A.

 

(b) Expenses. The Company may reimburse Consultant, in its discretion, for all reasonable and necessary business and travel expenses actually incurred by Consultant in performing the Services, subject to receipt of a written request for reimbursement, accompanied by appropriate supporting documentation. Consultant may request reimbursement not more frequently than once every month during the Term of this Agreement.

 

(c) Withholding; Benefits. All fees payable to Consultant under this Agreement shall be made in full, and without any withholding, deduction, or offset of any state or federal withholding taxes, FICA, SDI, or income taxes, nor shall the Company be obligated to pay any of Consultant’s employees’ taxes. Consultant hereby covenants and agrees that he shall be solely responsible for all taxes, withholding, FICA, SDI, and other similar items (both employee and employer portions) with respect to all fees paid by the Company under this Agreement, and agrees to indemnify and hold the Company harmless with respect to such taxes and withholding.

 

DSS Consulting Agreement2 
 

 

5.          Confidential Information.

 

(a) Definition of Confidential Information. “Confidential Information” means any and all patents, patents-pending, source-code, trade secrets, know-how, confidential knowledge, customer information, financial information, or any other proprietary information existing as of the date of this Agreement, or thereafter developed, pertaining to Company, its affiliates and subsidiaries, or any of their respective existing or prospective clients, customers, or consultants. By way of illustration but not limitation, “Confidential Information” includes (i) inventions, ideas, concepts, improvements, discoveries, trade secrets, processes, data, programs, knowledge, know-how, designs, techniques, formulas, test data, computer code, other works of authorship and designs whether or not patentable, copyrightable, or otherwise protected by law; (ii) information regarding research, development, new products and services, marketing plans and strategies, merchandising and selling, business plans and processes, data models, strategies, forecasts, projections, profits, investments, operations, financings, records, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (iii) identity, requirements, preferences, practices and methods of doing business of specific parties with whom a party transacts business, and information regarding the skills and compensation of employees of such party and independent contractors performing services for such party.

 

(b) Confidentiality Obligations. Consultant acknowledges that irreparable injury and damage will result from disclosure of the Confidential Information to third parties or its use for purposes other than those connected with the Services. Consultant agrees, indefinitely:

 

(i)          To hold the Confidential Information in strictest confidence.

 

(ii)         Not to disclose Confidential Information to any third party except as specifically authorized herein or as specifically authorized by Company, and to use all precautions necessary to prevent the unauthorized disclosure of the Confidential Information, including without limitation, protection of documents from theft, unauthorized duplication and discovery of contents, and restrictions on access by other persons to the Confidential Information.

 

(iii)        Not to make or use any copies, synopses or summaries of oral or written material made available by Company to Consultant, except as are necessary to carry out Consultant’s duties and/or obligations as a Consultant.

 

(iv)       In the event of disclosure in accordance with Section 5(b)(ii) hereof, to limit disclosure to persons with a bona fide need to know the Confidential Information, to communicate to all persons to whom such Confidential Information is made available the strictly confidential nature of such Confidential Information and to obtain from all such persons an agreement in writing to be bound by the restrictions imposed by this Agreement.

 

DSS Consulting Agreement3 
 

 

(v)          In the event Consultant is required by law to disclose such Confidential Information, to provide Company with prompt written notice of such requirement so that Company may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement; in the event that such protective order or other remedy is not obtained, or that Company waives compliance with the provisions of this Agreement in writing, to furnish only that portion of Confidential Information that is legally required and to use its best efforts to obtain reliable assurance that confidential treatment will be accorded to that portion of the Confidential Information to be disclosed.

 

(vi)          To the extent that the terms of this Section 5 conflict with those contained in any previous NDA issued between the parties, the terms of the NDA shall govern.

 

(c) Return of Confidential Information. Upon Company's request and upon the termination of this Agreement, Consultant will promptly return to Company all written material and other documentation which includes any of the Confidential Information, and will, at Company's request, provide Company with a written certification that Consultant has done so.

 

(d) Unauthorized Disclosure of Confidential Information. If it appears that Consultant has disclosed, or has threatened to disclose, any Confidential Information in violation of this Section, Company shall be entitled to an injunction to restrain Consultant from disclosing, in whole or in part, such information as a result of Consultant’s violation of this Section. Company shall not be prohibited by this provision from pursuing all other legal and equitable remedies available, including a claim for losses and damages.

 

6.          Representations and Warranties; Indemnification.

 

(a) Consultant hereby represents and warrants to Company as follows:

 

(i)           Consultant is authorized to enter into this Agreement and perform as contemplated herein;

 

(ii)          Consultant will perform hereunder in compliance with all applicable U.S. and international laws;

 

(iii)         That Services will be performed in a diligent and professional manner, consistent with generally accepted industry standards;

 

(iv)        That to the best of Consultant’s knowledge, the Services will not violate any trademark, trade secret, copyright, patent or other intellectual property right of any third party;

 

(v)         That Consultant’s performance under this Agreement will not violate any contract, agreement, or other document to which Consultant is subject.

 

DSS Consulting Agreement4 
 

 

(b) Consultant will defend, indemnify and hold harmless Company from and against any and all claims, actions, demands, liabilities, losses, damages, judgments, settlements, costs and expenses (including reasonable attorneys' fees) (any or all of the foregoing hereinafter referred to as "Losses") insofar as such Losses (or actions in respect thereof) arise out of or are based on (i) the acts or omissions of Consultant, or (ii) a material breach of any representation, warranty or covenant made by Consultant hereunder or in any NDA previously executed by the parties.

 

7.          General.

 

(a) Notices. All notices under this Agreement may be given by personal delivery, by nationally recognized overnight courier, or by certified mail, return receipt requested, enclosed in a duly post-paid envelope and addressed to the post office address of the party to receive the address provided by the party to receive notice. Any notice to Company sent pursuant to this Section shall be addressed to the Chief Executive Officer.

 

(b) Independent Contractor. Consultant is, and at all times will be, an independent contractor. Nothing in this Agreement shall be deemed to create an employer/employee, principal/agent, or joint venture relationship. Unless expressly agreed to in writing, neither party has the authority to enter into any contracts on behalf of the other party or otherwise act on behalf of the other party.

 

(c) Governing Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference to New York’s conflicts of law principles. The federal and state courts residing in Monroe County, New York shall have exclusive jurisdiction over any claim brought under this Agreement, and the parties hereby irrevocably consent to the personal jurisdiction of such courts.

 

(d) Entire Agreement. This Agreement shall constitute the entire agreement between the parties and supersedes and replaces all other agreements oral and written with respect to its subject matter. This Agreement may not be modified, amended or terminated except by a writing signed by all parties to it.

 

(e) Assignment. Consultant may not assign any of its rights or obligations under this Agreement to any other person or entity (including any subcontractor). All of the terms and conditions of this Agreement shall be binding upon, shall inure to the benefit of, and shall be enforceable by the respective successors and assigns of the parties. Any attempted assignment in conflict with the terms herein shall be deemed null and void.

 

(f) Remedies. The parties acknowledge that the financial hardship to a non-defaulting party as a result of breach of this Agreement may be difficult or impossible to measure in dollars and that no remedy at law will be adequate to compensation the non-breaching party for such violation; therefore, in any action to enforce this Agreement, a party shall be entitled to preliminary, temporary or permanent injunctive relief and the other party waives the defense of adequate remedy at law, acknowledging that no such remedy exists. In the event of litigation to enforce the terms of this Agreement, the losing party agrees to pay the substantially prevailing party's costs and expenses incurred including, without limitation, reasonable attorneys' fees, expert witness fees and disbursements. Each and all of the rights and remedies provided for in the Agreement shall be cumulative. No one right or remedy shall be exclusive of the others or any right or remedy allowed in law or in equity.

 

DSS Consulting Agreement5 
 

 

(g) Waiver. No waiver by Company of any failure by Consultant to keep or perform any promise of condition of this Agreement shall be a waiver of any proceeding or succeeding breach of the same or any other promise or condition. No waiver of Company of any right shall be construed as a waiver of any other right.

 

(h) Severability. If any provision of this Agreement shall be held invalid or unenforceable by competent authority, such provision shall be construed so as to be limited or reduced to be enforceable to the maximum extent compatible with the law as it shall then appear. The total invalidity or unenforceability of any particular provision of this Agreement shall not affect the other provisions hereof and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted.

 

(i) Counterparts. This Agreement may be executed in multiple counterparts, each of which will for all purposes be deemed to be an original and all of which will constitute one and the same Agreement. A signature delivered on any counterpart by email PDF, facsimile or other electronic means will be deemed an original signature to this Agreement.

 

IN WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of the Effective Date.

 

  DOCUMENT SECURITY SYSTEMS, INC.
     
  By: /s/ Patrick Whtie
    Patrick White, CEO
     
  IpCAPITAL GROUP, INC. (CONSULTANT)
     
  By: /s/ John Cronin
    Name: John Cronin
    Title: Managing Director and Chairman

 

DSS Consulting Agreement6 
 

 

Exhibit A

 

Form of Warrant

 

(Attached)

 

DSS Consulting Agreement7 

 

EX-10.3 7 v303337_ex10-3.htm

 

CONSULTING AGREEMENT

 

AGREEMENT made as of the 20th day of February, 2012 by and between Document Security Systems, Inc., maintaining its principal offices at the address 28 Main Street East Suite 1525 Rochester, NY 14614 (hereinafter referred to as "Client") and Century Media Group maintaining its principal offices at 260 Madison Ave. New York, NY 10016 (hereinafter referred to as the "Company").

 

WITNESSETH:

 

WHEREAS, Company is engaged in the business of providing and rendering investor relations and media communications services and has knowledge, expertise and personnel to render the requisite services to Client; and

 

WHEREAS, Client is desirous of retaining Company as a “general contractor” for the purpose of obtaining investor relations and corporate communications services so as to better, more fully and more effectively deal and communicate with the general public, its shareholders, and the investment community.

 

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements contained herein, it is agreed as follows:

 

1.           Engagement of Company. Client herewith engages Company and Company agrees to render to Client investor relations, media communications, advisory and consulting services as described below, for the term of this Agreement.

 

A.   The consulting services to be provided by the Company shall include, but are not limited to, assisting in the implementation and maintenance of an ongoing program to increase the investment community's awareness of Client's activities and to stimulate the investment community's interest in Client through the retention of, but not limited to Zacks SCR Program, Standard & Poors Stock Report, PRNewswire Capital Markets Visibility 365 and full suite of proprietary services. Client acknowledges that Company's ability to relate information regarding Client's activities is directly related to the information provided by Client to the Company.

 

B.   Client acknowledges that Company will devote such time as is reasonably necessary to perform the services for Client, having due regard for Company's commitments and obligations to other businesses for which it performs consulting services.

 

C.   Company will assist Client in press release production and required clearance with NYSE Amex, and with editing. Company will require written authorization to disseminate each individual release; authorization must be given by a principle of the Client or Corporate Counsel. Company will manage inbound Shareholder inquiries as well as assist with the organization of quarterly calls with service to be provided by Accu Talk or similar. Company will assist Client in conducting annual and special shareholder meetings. Direct costs for these services to be assumed by the Client

 

Page | 1
 

 

D.    The services to be rendered by Company to Client shall under NO circumstances include the following:

 

i.   Any activities which could be deemed by the Securities and Exchange Commission to constitute investment banking or any other activities requiring Consultant to be registered as a broker-dealer under the Securities Act of 1934.

ii.   Any activities which could be deemed to be in connection with the offer or sale of securities in a capital-raising transaction.

iii. Any paid for research or promotional tout services.

 

2.           Compensation. As compensation for the services provided for in this Agreement, the Client shall pay Company as follows, subject to and contingent upon Client receiving approval of corresponding NYSE Amex Additional Listing Application for 250,000 shares of Client’s common stock underlying the proposed warrant:

 

·One Hundred Twenty Thousand Dollars ($120,000) to be paid at a rate of Ten Thousand Dollars ($10,000) per month for the term of this Agreement, commencing with the execution of this Agreement.
·Client shall grant to the Company a cash Warrant (the “Warrant”); to purchase Two Hundred Fifty Thousand (250,000) shares (the “Warrant Shares”) of the common stock of Document Security Systems, Inc., said Warrants shall be exercisable for a period of Fourteen Months (14) commencing on the date Client receives NYSE Amex approval of the underlying Warrant Shares, at the following exercise prices:

 

Ø50,000 at $4.50 per share
Ø50,000 at $4.75 per share
Ø50,000 at $5.00 per share
Ø50,000 at $5.25 per share
Ø50,000 at $6.00 per share

 

3.           Term and Termination. This Agreement shall be for a period of Twelve (12) Months commencing February 20, 2012 and terminating February 20, 2013. This Agreement shall automatically terminate effective on February 20, 2013, unless renewed upon mutual agreement of the parties, or unless earlier terminated as described below in this Section 3. Either party hereto shall have the right to terminate this Agreement upon 30 days prior written notice to the other party after the first 30 days. At the conclusion of this Agreement, or its termination, all confidential data provided by the Client to Consultant shall either be destroyed or returned to the Client.

 

Page | 2
 

 

4.           Treatment of Confidential Information. Company hereby agrees to use all non-public information provided to it by Client (“Confidential Information”) solely for the purpose of rendering services to Client pursuant to its engagement hereunder and to treat confidentially such information for so long as such information remains non-public. Except as contemplated by this agreement or as required by applicable law, Company will not disclose such confidential information to a third party (other than directors, officers, employees or outside advisors of Company) or use such Confidential Information for its own benefit or the benefit of a third party without the prior consent of Client. This restriction shall not apply to any Confidential Information: (a) that becomes known generally to the public; (b) for which disclosure is required by applicable law, legal process, or any order or mandate of a court or other governmental authority to be disclosed; or (c) that is reasonably believed by Company to be required to be disclosed in connection with a lawsuit or other legal or administrative action, provided, that in the case of clauses (b) or (c), Company shall, unless otherwise prohibited from doing so, give Client reasonable advance written notice of the Confidential Information intended to be disclosed and the reasons and circumstances surrounding such disclosure, in order to permit the Client to seek a protective order or other appropriate request for confidential treatment of the applicable Confidential Information. Company shall obtain no rights of any kind in any Confidential Information.

 

Company acknowledges that it is aware that U.S. and state securities laws impose restrictions on trading in securities when in possession of material, non-public information and has adopted securities trading policies to that effect.

 

5.           Representation by Company of other clients. Client acknowledges and consents to Company rendering investor relations, consulting and/or communications services to other clients of the Company engaged in the same or similar business as that of Client.

 

6.           Indemnification by Client as to Information Provided to Company. Client acknowledges that Company, in the performance of its duties, will be required to rely upon the accuracy and completeness of information supplied to it by Client's officers, directors, agents and/or employees. Client agrees to indemnify, hold harmless and defend Company, its officers, agents and/or employees from any proceeding or suit which arises out of or is due to the inaccuracy or incompleteness of any material or information supplied by Client to Company, to the extent that such proceeding or suit arises from the use of such material or information as contemplated by this Agreement.

 

7.           Independent Contractor. It is expressly agreed that Company is acting as an independent contractor in performing its services hereunder. Client shall carry no workers compensation insurance or any health or accident insurance on Company or consultant's employees. Client shall not pay any contributions to social security, unemployment insurance, Federal or state withholding taxes nor provide any other contributions or benefits which might be customary in an employer-employee relationship. Company shall indemnify Client for any such payment or taxes for which Client may become liable as a consequence of this Agreement or the services rendered by Company or its employees hereunder.

 

Page | 3
 

 

8.           Assignment. The Company may assign either this Agreement or any of its rights, interests, or obligations hereunder with the prior written notification of the other party.

 

9.           Notices. Any notice to be given by either party to the other hereunder shall be sufficient if in writing and sent by registered or certified mail, return receipt requested, addressed to such party at the address specified on the first page of this Agreement or such other address as either party may have given to the other in writing.

 

10.         Entire Agreement. The within agreement contains the entire agreement and understanding between the parties and supersedes all prior negotiations, agreements and discussions concerning the subject matter hereof.

 

11.         Modification and Waiver. This Agreement may not be altered or modified except by writing signed by each of the respective parties hereof. No breach or violation of this Agreement shall be waived except in writing executed by the party granting such waiver.

 

12.         Law to Govern; Forum for Disputes. This Agreement shall be governed by the laws of the State of New York without giving effect to the principle of conflict of laws. Each party acknowledges to the other that courts within the County of New York shall be the sole and exclusive forum to adjudicate any disputes arising under this agreement. In the event of delinquent fees owed to the Company, The party prevailing in any claim under this agreement shall be entitled to recover reasonable attorneys’ fees and expenses form the other.

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first written above.

 

By: /s/ Jack J. Zahran  
Century Media Group by Durham Advisors LLC  
Jack J. Zahran  
Managing Partner  
     
By: /s/ Patrick Whtie  
Document Security Systems, Inc.  
Patrick A. White as  
Chief Executive Officer  

 

Page | 4

 

EX-99.1 8 v303337_ex99-1.htm

 

 

Document Security Systems Announces New Director

 

Former IBM “Top Inventor” and Chairman of ipCapital Strategy Group, John Cronin, Joins DSS
Board of Directors

 

ROCHESTER, N.Y., February 21, 2012 — Document Security Systems, Inc. (NYSE Amex: DSS; "DSS"), a leading developer and integrator of cloud computing data security and security printing technologies which prevent counterfeiting and brand fraud, announced today that John Cronin, Managing Director and Chairman, ipCapital Group, Inc. has been elected to the Board of Directors effective immediately.

 

“I am pleased to welcome John Cronin to our Board of Directors,” said Robert Fagenson, Chairman of Document Security Systems, Inc. “John is a seasoned executive who brings a wealth of knowledge and experience to our Company. His contacts and licensing experience can strategically help DSS monetize our growing intellectual property portfolio. Several months ago we engaged John and his firm, ipCapital Group to perform an analysis of our intellectual property portfolio. His findings convinced us that DSS needs to devote more resources to our potential in the world of “cloud computing” and the types of technologies that can power an additional dynamic potential driver of future growth for our Company. John’s presence on our Board will give us the direct knowledge to develop those strategies quickly with a focused approach. Our recently completed equity financing gives us the financial flexibility to continue to fund additional growth in our historic business lines as well as provide the working capital needed to develop the new patents, products and relationships that are John Cronin’s specialty. We are looking forward to John’s contributions as we work to drive exciting new areas of growth to help build shareholder value.”

 

CEO Patrick White stated, “Having John Cronin join our Board of Directors is a real win for our shareholders. I look forward to working closely with John on a number of initiatives. He has a track record of successfully operating in a high growth technology environment as well as executing mergers and acquisitions.”

 

Prior to founding ipCapital Group, John Cronin spent over 17 years at IBM where he became its top inventor with over 100 patents and 150 patent publications. He created and ran the IBM Patent Factory which was essential to helping IBM become number one in U.S. patents and was part of the team that contributed to the start of IBM's successful licensing program.

 

 
 

 

About DSS (Document Security Systems, Inc.):

 

DSS provides counterfeit prevention and comprehensive brand and digital information protection solutions to corporations, governments, and financial institutions around the world. DSS develops and manufactures products and services containing patented and patent pending optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners and copiers in the market. DSS's customized solutions are designed to protect against product diversion, counterfeit, and other costly and damaging events. In addition, The Company owns numerous patented and patent-pending technologies and products.

 

For more information on DSS and its subsidiaries, please visit DSSsecure.com.

 

Follow Document Security Systems, Inc. on

 

About ipCapital Group:

 

ipCapital Group has been serving clients that range from early stage to Fortune 500 since 1998. Its interdisciplinary team trained in business, law, marketing, and product development provides a systematic and comprehensive view of the full lifecycle of IP, from inception through shareholder value creation. ipCapital Group maximizes business results for clients that seek to develop and execute IP strategies, strengthen and monetize IP portfolios, and establish and implement Intellectual Asset Management (IAM) practices. ipCapital Group has worked with a variety of public companies including VirnetX. For more information, visit www.ipcg.com.

For more information:

 

Investor Relations:

Nicole Acton

585-325-3610

Email: ir@documentsecurity.com

 

Safe Harbor Statement

 

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. These forward-looking statements include, but are not limited to, statements regarding expectations for future financial performance, potential sales from new and existing customers, expected benefits from the Company's cost cutting efforts and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," or similar expressions, all of which involve uncertainty and risk. Many of these risks and uncertainties are discussed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2010 filed with the Securities and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov. It is possible the company's future financial performance may differ from expectations due to a variety of factors including, but not limited to, the risks referred to above, and changes in economic and business conditions in the world, increased competitive activity, achieving sales levels to fulfill revenue expectations, consolidation among its competitors and customers, technology advancements, unexpected costs and charges, adequate funding for plans, changes in interest and foreign exchange rates, regulatory and other approvals and failure to implement all plans, for whatever reason. It is not possible to foresee or identify all such factors. Any forward-looking statements in this report are based on current conditions; expected future developments and other factors it believes are appropriate in the circumstances. Prospective investors are cautioned that such statements are not a guarantee of future performance and actual results or developments may differ materially from those projected. The company makes no commitment to update any forward-looking statement included herein, or disclose any facts, events or circumstances that may affect the accuracy of any forward-looking statement.

 

 

 

GRAPHIC 9 ex99-1_logo.jpg GRAPHIC begin 644 ex99-1_logo.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`8@#K`P$1``(1`0,1`?_$`+\```$#!`,!```````` M```````)"@L!!@<(`P0%`@$!``$$`P$!``````````````$"`P0'!@@)!0H0 M```&`0,#`04#!0L)"0````$"`P0%!@<`$0@A$@D3,5$4%0I!819QD2(R.;$C M4]4FMA=W&%@94M*3)':6UI>W@<%"DL(S0Y4:$0`"`@$"!0($!`,%!P4````! M`@`#!!$%(3$2!@=1$T%A(C)Q@10(H4)RP5)B(S.1L:)#U=PW1,/L!5=),?S'.`Z1.1,Y M%2]Z1R*D'V&3.50OYR"(:1/K2)0P@0HG.)2$#J)CF`I0#WB8P@&D3A3=M%3` M1)TV4./0")N$3F$?L8VUH/!9 M?)ZI7EFT[87C%9H4:#9>\QWEEYC692LK\E M4CD!:;_``ID7W]'N/3A>W-LR\BL_\` M,Z"E0U];7Z:_^+7Y36?>GF'QMV#4S=U[O@XMH!_RBXLO.GP%-?59^?3I\XH: M_P#.WQ7B+:QK<31\PV"F-R)M'-_,RBTG&Z()I).DH"5E"3DF@<@"9558Z+@1 MZ^F<1UOC&_:'Y`MVLY>1F;=5N>FHQRSM^36JA16]`.I?5A.L.9^_#Q;1O2X. M+@;M?L^NC902M=/0K2SBQE]22C#X(9IMR6X2\&?*]*2ERPIY+.26&LJS@+.O MP+*9KMKRF"^7`YTVH8:R#+0[ALGZVP&)#/B)))="$#IK3'=?B'R+V82V^;7D MKB@_ZM8]ZK3UZZ^H*/ZNF=ANQO/GB?O]53MS><-LQ@/\BYOT]_X"N[H9C_1U M"-_N37T\?EUXSN'MHP];9/DQ560'=(3^$LH6BOWPC8GB6.A3&$0`=;D$<#SFXUNK2KRV<%K:6I*@A_C%>53^_]R8_W MZ+_%VD=">@E0\Q?E4`0'^W]R7Z#OUO)1#I[P&.V$-(Z$]!,R8S\^_ENQ?(MG M[/F#;;NB@H4ZL5E&M4J^1SU,H@)F[D)2OD?$34`-A,BNDJ`?JG`>ND@UH?A' M$O`7ZL2L7*>@\=>0/&$/C-23)4Y9W1F2RP@D5Y>:%(N)6P0+$RIP% M9Y'NGR2!0[C(%+N8LRTU.G%8\9JEJK-ZK4%UU*T1;.;KEDK\@UEH2; MB)!$KAE(Q8WPD=ZU(NS:V%O&N6KJTWD[=P10ODNY[\IYIW-9LY5YBL2;E9=5.MPELD*/2X]-<'D%YC9DSY"\B.1-NR[A'$6,(%PBTND16I":4R'<+$+:O`-R M2AFMA.BV@8.24.B9P(/\>_CB>3DYV<>JVR-A MV$U)EC8%HU3.@X543`7I3@`&ZZ3'M55TTYQUYJ99AI$-(C`OZO/#+V"Y/\7L M^(,5"PV1,-3>,W\B!-D36''5J>3S1J)PZ&7/#74QNO7M3]VH,R:#P(BC7@;R MG3L:^%:XY^Q#AK%+C/V$+ADFJW.Q.*RS9V.X)M+%%3K>5M=BBD4+)(I,*?;2 ME3(+DI3(L`+TZB/.O&G;.V=Y=\;=VQN]UF/@YMQK-E?3U`E6*`=0(^I@J:D' M3772:K\W=[[UXW\9;QWQL.-5F;CMN,+A586",HL1;&/20?HK+6:`C7ITU'.: MK9]\D/-[,Q7S:QY8DZA4GQ5$#U_%B7X.@S-U!V^&=R$>F':O@3Q?V>R/B[;7D[@AU%N4???4?$*W^6O\`[4$\;.Z?W8^6?)77CY&\ MV86&X(.+B#]*-/0LI]VP?,V,/PB>;E==XY6>O%UWCURH95R\=K*.7;A4X[G5 M7@`X`?A-+VV676M=03EWQZ2;%HV:[(>L1YP_DO=UPN54$@;"+9-C/\`Q;EH!P``V9K(J[`` M`(!K5W=OA[QGW>&LWK:\=JO0,?ZU83=787GKS'V3=7A]L;OE MVXJGAC7G]33IZ=-NOMK\T9/36*Q,]=_P!OW?\`W5Y*[#K[E[MQ\3'W M%LFRL?I^L(ZUA07T\RSY4L;6@[11Y!8#QUD/*DVY M,41*V>&ABT>LJF5$HE!92?M20@'ZQBE.(>P1#40F\[3HGXR3;JAC2GVF3?3?]#^7H6P.HFG.Y!PJZ<1=/N%72DWZM<(JH(-&KQB95JG ML3XA0H!M&DOK=_>$T&4^DA\@Y#B5/-?%M4H>PX361"`;J/7M/2NX-PTTE?O+ M\YQ__DD\A(>W,_%S_P"]R#_P7II'O)\YB')OTLWE'HT:YDJDRP9E_P"$147/ M%T[)?R.:<`F43>E'M;O$5]BY<*;;%(9REN/VZ:0+DB"68<*Y($<%]&1C'7:(HNVQUFRY>J:A@ZZ2Z"#Q'*8 MPTB.*?#SYS+WX_,0<@,!9%D)*W8W7Q3>K7QE:O\`XB4+CG/#>-K/8[OF4^R9"N%4H--BEYV MW7>QPM2J\*UV^(E9^P2#>+B6"0FV*07#UR0HF-L4A1$P]`'2"=!J>4>[8+^D M$H2^/8=]R3Y8W]KD^0CV[F:@<.5JJMZA6GSA`BB\2WE[:SFY*RFCU3"F9T"3 M)-42B)4@#81:3'-YUX#A,4YU^C^NS!H\D.-7,*"L;E%)11I6,TT)S7E71B%, M8B`6VF/I5L1980`I>^*(F!AW,8`]C22+Q\1-@>/.$\Z>`CPJ\Z4 MN1K*.7LA(/5SNGSYXY5,95P[>.E3J** M&$3'.81$=QTF1,D83P]?.0F7\:8,Q=%$FLB99N<'1*?&K+D:-EYJ>=D:MU'S MQ0!39Q[,@F7<+&W!)!,YMAVV%!.@U/*/:,7?1^8@)2(S^FSE_E!UDA=FD>9_ MHMJ51BJ3&OCI@95K&$M;*;G)5LV5$2@NJ=L98H=WHI[]H-)CF\Z\!PFMN?OI M!";@5D7Q[<$XW$N:H.&@LV6O)V0<@9(9PDPQL+-%P\E2P%7;I3 MD88S*2;DJ4`S52.78Q2+]I@*8!*$RU8P9M1RBS&DHAI$-(B$OU$O"Y_S`\JG:Z]8L<611%,P]I M$T5FT0)A#H)U0]GV_:[:W5]C[AP=YK.CXF93<#_T[%;^R<=[[V"KNGL_=.V[ MEZJ\_;\C'(_ZU3H/XM,!OF;V"DY.)=!Z;V+?/(I^B8H&(+A@Z5:.4E4E`$BA M`62,':8!#[M>W--M.;C5Y-?U46HKK^#`$'_89^7[<,*W!SK<+)!7)HM9&T)! M5D)!T(T(((YCC+=>5N(E.XS51.#?C["F`YX=P8=_U@#U%XTYA#VE!1+[BAUU M9>BQ.-?UIZ?S#\/@?SX_.?1PNY=PP=$S%.5B^HT%R_[EL'_Q;YM+0:/2 M1ZT8X^(43%9$Q`*HU7;E_6=(O"&%H=J4.HJ=_:7[1#5@W5A2S$`#GKPT_+G. M8XN];7FX_P"JQKD:H'I(XA@W]TI]X;_#IJ?AK+X[EI=EAL M7"/P('O,/DIU%8/JVK?X1,?R4H]D3F7>+"IZ93"FD0H)-T2@`CV(($`J:1?R M!N/VB(ZQQJ6X\23SFP\+`P]MH]K#0*GQ/-F^;,>)/X_E%?/--,'XS>!#AOQX M2/\``S^>;OC^6GD`_>U'T6WC9[,4ZFX3#8161EY")[]^@"EL/7;7DQYDWS_R M#R;O.X*=:AF-4OITTZ5#3Y?1K^<]F_!FP?\`CGBW9-M<:7?H5M?^J_6XZ_/Z M]#^$V<^E$X8/L1\5LC\O;?%&967D_/MH:@F<)F(Y+A['KAXT:R*?<`=K6T7) MP^6)_"(M$3]2F+K60FU+FU/2/A'80>T/RAJ99D7SYH^6G*FB^4SFC4:1R6SU M3ZI!939LX.LU?+-Y@H"':&I54<&;1<1&S;9@Q;F76.<2)$*7O,([;B.HF76H MZ!PB8']N'FG_`'NN3'_._(__`!#I*^E?021]^G0R!?,G>*7"-PR3=;7D&VO[ MKFM!]:+K8)2SV%Z@PRI9V;%%U,3+IX_<),VB)$DBF4$$TR@4NP``:F8MO!S% MQ]);B%/G\\=U*YL\'\C7V,K;#^T-QOJLYE'%EM:LTBSK^&K38\S=<=OGI`*N M]@[+7VC@Z""@F(A))HJD[-U!,ERINEOD9%VD.50A%"#N0Y2G*/O*8`,4?^T! MU$RY]:1#2)D#$^2K-AG*..LWVM'=I^LT&9JTLUEV*3M+VJ-% MU6H)J@&QNPP["`[#I!&HTDJ/XS_,#Q6\E5&B`H]HCJ)GYE#HN,@H"N!S(/67>H1$`^)20/N74S#="GX15_241N-]4Y"34KX MI9][%D658UW/6%IFPD2*8P$B3S3Z)34DVXF$>@"(#J#+M/WR-2TF M5,]<6^05KXH\C<+GE)XH>2/'K.RX1NK2-R&QC6SF_8/M#QHPR7 M0WYT_P#6TW$0*A1GX%-P4P(2K`%F:R?:)A34$4BS,1D9#QY11O240TB&D0TB M&D3B611P>*;SR5VP8ZB7+?AISOI.6J=2'[%%0\7C_((,"Y2##DP@`9)$DL*6_O3$/LU[%^%=\/<7BS8]Q=NJ\8*5.?CUT$TMK\ST M:_G/SC?N9[77L_SOW-LU2=&,=SLOK&F@]O*TR4`^0%O3^(,U&]_Y0]WO'6T9 MHJ6YD%\Z3H2[1-TX(@I8XPIT2+*%3,F9E)G43$A3`44U#D*)BB&QA*`C[`U\ M?#7LB&T8+Z$@$@^Y6`==.8!(!Y@$^LUSU\^=CY? M^**,\R?E+&^-V")UW=\O=4J22*6_J'+.S;*/<"3;KW$;+'-TZ]-?)W[=*]DV M/-WFTZ5XN+;:2?\``A8?Q`GU^W]IMW[?\'9*039EY=5(`Y_YCJI_@3%YO,+P MCOODP\B?!K@G21DX?`W'O"S[+/(F],D1+&46K6^S-JI"PS5[-!8]5: MQ34-U"IO#.3E!!$QM>-&5?9EY-F5:=;;'9V/J6))_B9[AX-%>#A)C5`"JM%1 M1\E4`?PCI''U!J&*J)3L9X_@F59H]!K4-4:G7XY(J+*(@(!@A&Q;%`A0#<$6 MK@[Z1(5N^PQ:W?K[72$*FG7[S<(-),H;% M32B;')QZ290#H!2)-P`/NU$SQREIZ1+XLV-;]3*UCZY6FHSD'4LKPDE8\;V5 M^R43A+I#0L])5>9=P,B`&;/#1-@B'#5RD!@6043#O*!3$$R-1+'TB>Q7[#8* ME.Q5HJ<]-5>S0+Q*1@['7)5]!ST,_0,!T7L7+QB[5^P=)&`!`Z2A3![](CK3 MQK_5&9TPJ[KV+>>K*1S]B15FIEB;M79V+M-!RW+J0DV5!4*]D"HGC(P<=W^,_ZIO(5'>5[$GD8CELBTDYF\8SY( M5&)21O\`7""9)%)YDBHQB2+&XQ;=,-UGT:DC)%#HZ1$:?)1X_T.3$K8R^ZP! MVM;<6KO`^K&LL(ZNL?S4L>)(^JLZM]0)`Z`_O!_:=E^52_DGL,D]\T8ZK=BL M?IS*J@>GVB=.C)1?I52>BT`+JK`$M?).,DH62D(>88/(J6BWB["3C)%NJS?Q M[YHL=%RS>-5R$6;N6ZI!*T$AZ2^?O/.%E8F5V! MV>R7U6J:LO)YIIK]5-/][EH]G+FJZZEAWN_;K^WK/Q/;%9,#2 M+M-,J[P630H)I>H8WIDZ%V#72:=[9Z&D2H>T/RA^[I$B=O.;^UMYS?UMLOYB M5#43-K^P1*'2523Q^F8_9!8&_P!NL[?]7;7J9B6_ZAB^NDMSB<.D&3=P]=*% M1;-$%G3A8X[$20;I'564,/V%(F01'[@TB0K&49(DUE')\PGMZ4MDB^R20EZE M%)];)=RF)1^T!34`0U$SQREBZ1))[Q9\"^/'-#P/<0,'\G\=L[E6Y>LY'MC65),S^NS!6+M(>Y,11<$`"+IJIB)!F8K,5L)$;1^ M1_Z;'EUQ`4G\C<=22/*_`3,7+\RM8BO3S/2HM,%%S%M5$9BK^)6C!NF/?(PP MJ]Q2]ZC5#?4:2ZMJMP/`QN`HFHBJLW7250<-EE&[ENNF=%PV<(G%-9NX05*1 M5!=%0HE.0X`8I@V$`'279\:1%KO"#Y2KOXZ>4=8A;!/R#SBSFFS0]5S52EW* MBD5`N)APE$Q&5X)JH8R#"?JCIPF=Z9,I1?1@*I''N*D8B46(&7YR10YR^/CB MQY'L2)X[Y!4YM/)H-E7^/PR[14%V#U, M`!5(^Q1+,Q58J=1(_KR/?3Q\SN#"D_?L=1KSE%QVCQ=/@O\`C^%<#>ZC#I;J M"KD;'34SU\R3:(_^[(1IWC'8.\_H`/:$:3)2U6X6.%[Q&MS;$5)(R$C&-I)OG0P6Z MY'<3I"+QUROI\:S2RQB.>KNU5B@AZ/J%7`Y3)B8I@$?1QM[V?== MGIW_`&_)IMV6RHV+<&'M^WIJ6+'3I`_FZM"I!#`$$3R9["[6[@[>[YS>V=ZP M\C'[BQT-+X[H?=%AL4!`HU+%CITE=0P(*D@@E8;`W%'C?XN<)EY\>367BHNR MQA$GF+,*.4VLS+,K&=N9Y#Q;.M&5`MPRL]$H"BT`190W51=0IRF41Z#>;_W" MV[[[O:78EK5[)Q2_*757R/@4J/-:?5N#6?)/N]/?]*V;]P>C M$8!DQOB'N'$-?Z+Q6KYO]MH^*7DUR2\T?D9M',W*;!_1>('"YE,,L`879O55 M:RRR[D",=P,//658GHMKCD6'H3Q^[=O3D.E&JO4$FQ4B&*)^HD[H.!6O2.9C MN[4RS#2)4/:'Y0_=TB1.WG-_:V\YOZVV7\Q*AJ)FU_8(E#I*I)X_3,?L@L#? M[=9V_P"KMKU,Q+?]0Q?726YH!Y2>45;X>\".2^;)^2082#'&EAJ-%;*+`DYF MLCWJ.7<#K.CS$D1HZF8+'5B9M3I(C=GS+^"O`7-K&>0,X83J$%BC MF!6(&5M$98:O'MX:!S*O$,UW[BJ9'AX]%-F^F9I-$R;.:*F#Y%R8@+'51$2E M2[785.A^V1H`E.0QB*D,DJF'M`0V$!Z@(#[0$/8(#I*8U=\Z_ M@HP5G/#F5^7_`!GIT+B?D;C.K3^1KI!51DWAZ;FNO5E@YFK,G+U]F1&-C;\G M%-5EVLDU33.]6)Z3HJHJ%432]780>D\I'QZJ3]DZ0.*:[5ZR4*Z:.4%"[&36;N$BG(8.I3%`0TB30 M_'VQR%QP'@ZW2YC&EK5A_&ECE#'$1.:1FZ9"R3TQA-N(F,YE2=LEP`3(.D$U`ZETD@D'4T,ONVGOG(V[%?NRB@TIE%![HK)U`)_F*\>AB"R`L%(!,:M9:S; MSH\ZW-^GU]YZ]KR#>YE:`Q9C2'4>H8PPE2%%RKR3I%$YE$XN`@8\@.9F8/KA+C?Q\\5L:\:,<>F_+5H\TE=[>9N5N_O^19 MD".K?<9`H;G+\RD=R-4C";X5BDB@`B">XS,5F+'6;IZ2F&D2H>T/RA^[I$B= MO.;^UMYS?UMLOYB5#43-K^P1*'251WWXC?J%>+/C\X,XUXOY/Q+FVV7*F6+( M\Q(S=+959:O.4+C>9NSQY&BDI.L'GJ-V4F1-4#)@`*%'81#;26'J+,6&DWQO M'U?W&&.CUQQWQ+SK;9845/A$K+9J/3HHKCL_>OC7;=>R/BH=_P"L*3=0VWL# M360*#\3&L/DU\N7)SRA6^%=97-$4+$U*>.7N/L(TEP_4JL$^6^W':&%+XY=-%-%,QBMT$2G.!DO(BH.'.)8Z2J+.^';B:XO5ZRGSNR7`%4X MS^/:DS^>[.[ET#%A+_EVG0CVPXIQ6V44("3X7ME9-WDD!1$$6R::9Q*+E/=* M';0=(^XQP?Q%^KJQW,L8BO\`-OCS8*5-`@FE(9+P2N%KJ[M;M`H.G>/["[96 M*$[Q'=0K>0DBEV$2A["::RTU)_E,6RH'GW\1^0HY*0:[369>O4DM*C9@M`J&^D1\OX[_JD>,>.,-8BX^\E\"7[$S/$^/J?C:'OV+W M"&2*G)1E/@X^O1S^1KCKY):8)9=LP!56288,"6 M"8;1#Q8K!I'E5+\2':!-F,%&MHMH':&X%V M0:EZ?9J9@GCQEP:1#2(:1#2(:1-#/(9X[>/WDDP6^PSG"(.VD8\7+K%SAK!*-)") M56;DAV[M(P"("55LL4BZ9@$/88H#I,J4TB&D2Z*32;GDNU1%$QQ4;+?KM/NT M6,)4:;"2-DLE01:E=RIA_AN^/_\`N9<:_P#E!2_XITT$=3>IG?CO'AP. MB7)'D?PZXV-G*8@8BH8=HR@E$H[@/:K#*$'8?>&ITD=3>IFR=-QMCK'38[+' MM`I-$9G`"G:4RJ0-7;&*7]4#(0C!BD8"_9N'32-2>'/(@BX9OXPX/R8LZ.=1S(6C'%8>3"ZAP`#'5FR1Z,N<_3H(K"(#U M#KI)#,.1,T"M7T]'B!M:ZKE?A_`P2RIC&_DG?\I5I!,3#N(),HNZHL2%]P`E ML&FDK]VSUEN0'TXWB`@GR;\W%Q:;,D<#D:V#*V6)!AN`[[*,RW)!%'4%B&3<.:34(J+F'B9P*4Y'T_Z"LX_* M?L`1!9P9FR0["!BF`#%,`@8I@`2F`0V$#`.X"`@/VZ2)J!F M7Q^\'^0HJJ9IXHX'R"[6.=1:2FL<5LLRJHH/<=52:8,6,4"-:X]80QEAV&.GZ2[>A5&'@'#U,#`8"R,DT;%DY+8Q=P M]=90=^OMTE!8MSF>-)$-(AI$-(AI$-(AI$-(AI$-(AI$-(AI$J'M#\ND1"W. MG,#DUAUSRHD+%DD]/GX>KN8X4CU,>6/$&4H9=RRL&2Z MS%_$*6^K6)T5\9TH8B+-%%J*AHEP*#I,Q$RAR;MT]CO#U\73\OB3/.;9 M7(^>\(XXJ5L.YQW,X[K--J\[3F34:U$XU2D;6N_E':)0E'3,@$3*N*^5LJU(807"ZAGJ M!;I46CE-T0K,+G`,5H"758@601(Z;'!.GX7=8WI-:+5,DV#)-KP_QVN[<]8:QB MBU787BM-`LB+@ZHJ(RASI>F5$I=)!"ZD3*/D!Y3\G.+J=2IN-YNM3]^RE@=Y M$8P>2]49JMIGD73+U0"6.148D.4AXR403:BV!4HB!3:2%4'B?A, M7&YM\ILIE=S.$Y."DZMDVO9!NN*(^/@J@%S#'5/SUB7%3M_1AMK>C)OUD$NTXD(F:)5T*.?PGN4[E5F^\Y9PQC2MYDS!;H!2GY,DKO M+43C)5VV1&UFI^>6%&0J^?*C>8UJOB^7J5:?%83:L>S:IN79!>-B%152WF00 M`-=)O=SRR_D#!W'N0O.,G_RRVFOF,JNV=IUUK;'B;&W7:'K\H$77GRB+:4EC ML7QP:I',`'7$H;AOK8WBOM[:>Y^[DVS>TZ\`8N3:0;#4.JJE[%ZK%U*IU*.H M@<%UFKO+GX_J\6H,*QD$\6TB7%SY]\ MHXV@T=5I;W#&UM7_`#)96SY-@AO8+J*V`G[;\`L\EXZ4?&3QV\6CEBJ64S9P M9O'H*BL53M+K>6V^*.QKMVR5LQP^`R;0U77G&NG3.4^^<;(Z?^X`8$8X9>JQ MATD:F:"W/S!W]3L^(U>2R;@K[RMW1@"R_7;V'Z=?EV8*N+9*V8S:U"ZXSP\7,E>CUHYU)2N3L[U*S3EKVJRE M>I&H(N37GK-8Z]Y+.3;NNW2,G9"J,+S5\7\SLG1ZI:JQ^&GJKCEHF;"UA3:B MH!")1,W%RS!^0H]KM1J'?L/4>;9?A?LFO,QK\5+WVR_.V?&8>ZVM=N03^LK) MYZLC5.AYH&X3@>'YR[ZMP\K'RGQTW7'V_>LI3[2Z658RC]%8!Z+8EU;C^-LI62O7V;QA5,,7JLW%*NM*,F[9Y?QNO;1KEC8QSIQ&IC M7I:.4+\6GZ8F:+D$Y>XNXZ8[\[:[]T=S9^;N^Q[_`'TY>5@8^%?5=[:T`C,QC=[=BJ2H M]MU/UC35&!(U$3UEN;O+^O84S`+Z]0[#DK&!A=:"QE:<1,(]"!=9#S2G07$[ MCNR1;Y]4LLXHO@4,H<0$H:V[C^,O'N7W+MWMXMC]F/^L#Y M-66S%QCX?OA,BME6W%RZW#-9655"F@`YS3.1Y4\D8?:^Y>[EUIWPGZ(UXMN& MJBLY&:,LK>+:\LAR=<50UZ*J_R,<8*>H<27!F=A>=-_RE[AWAGQUV3$V6FS#!11 MIEL4Q[&9C]Z#*+CI)T`0CAIK/"MGD(Y`KX9X_358O\:\N3V+Y?1&6K)B[%<9 ME9A9KEQS;PZU#;/`;15'GFL@D]?O$%O3:LG7J=X`3?65@>).TD[CW?&S M<1UVY7VE\6O)RFQ6KIW`N+$=R-6OK*E$1AJSKIIQF)N/F3O%^V=FR<#,1MR: MO>$R[,7$3+6V[;0AK=$!T2BP,'L=3HB-U:\)MUBC+/)J[\F<'U:;S#4TJ#D' MBU6>1]BJ%=Q_`/V7S%9Y7ZY+U&"N9WQY)6"D7\@J]2>B!EDP$$R@)``=:_W[ M8.R=L[)W/.QMNR#NN)OMFW5VV7V*>D"RQ+7IZ>D.JJ$*Z M]\[5@96YXPVC,V"KMAU$UUO37?U=1K9F+A_N'VCAQBH^M&3?T-(AI$ M-(AI$-(AI$-(AI$-(AI$-(AI$TUL'`/BU:I7($I8*#)2A,CM\BIS4*XN]U&L MQ+W+H)?TH3E,K@3P1%)L=Y41`[]_&)-G1CF4$AR"JKWI5U&P-8!6U),9>9S+E61MBE?O4?%Q5UH[^VNK:I89'']J80K9-Y"K.#QZ@I M`8$RG$3"CJ(Y3O/.#7&5]:+!:5\>J`:R1]H9O*RA9K0UH;)[=J*;&5KL<%1& M\NE58&USN/SFB5I)HU2=?"G.!3%,LTX[X? M8T2JXT:U%%*ETK(;#*M:AOF$F8D;?(S(#G*+*=*Y,\%VL=&\/%'WI*',B)C= M@E]/]'2-3KK\9ZN0\'XLRM9\77'(-0C[+8\,666M^-9%Z=R!JS89RN2-4E'Z M"**R2#H7<%*+(F(N51,.X#`4#E*8$`D.G8R[P;61;2)%OC$5TOT5.TQBBD]3!O'..D*I-0T3D"`L53)8BI6BO9@RA!6>RJVZVHWFTNKY/1=K:R5[=6"U(% M=N3RJCKN$H)@!4BE(".HS+MTX]XLR)C-UB*YPTK/T=W/FM"C)]:K,>4)-A9U MK@W>-K$$J$\U^7SRXJM2)N"D:D(1)(")$(0/M=O]P[MVON:[OLM@JSE1U!*J MXZ74JZE7#*0RD@@@\#/@=Q]M[/W9M;;-OM1NV]W1RH9D/56P=&#(58%6`((( MXB67#<-.-\!'Q4;%8X;((1$3E"&266FK`]D'S?,[,K')SF;E'THXDIR4MKR?(_>67=9=?F,6LLQG("5A5.&>K&"*JA46H_:B@+Z@S MC^+XQ[(PZ:Z,?!4)77E("7L9F&:.G*+NSEG>X?<[DMZ$3JL^%'&5C%/(E'&$ M<=)[+8TFSOG$A+.9IM(X>:0C#'"D=.+O3RL:C5V5>:)HI(*IIG(F(*%/WG[J M[/)?>MMZY#9SAEKR4Z0J!"N67;(ZD"]+&TV,26!()X$:#2W5XL[$JH;'7`31 M[,9^HLY<-AA%QBKENM14M:!0I`('$'4Z]=SP>XO.RM@7Q:P.9ICS(F*DE0E9 MPBQJ%E68DYZ\U]98DB51PA,2LPY5!0XF5;^L8$C$+TU6GD_OBLL4SG^K,Q\H MCI33W\5%2FP#IX%%11H.#:`L"90_BGL.P*'P$^G#R,0?79K[&4[V7UD]7$.[ ML=3Q74A2!,CXEX\8@PA!6*NXZJ18QA;W";FV+2TM-6B5LAV\4C!-$IF9LTA+ M2CYHQA&Y&C=`ROHH(%["%*`CO\;?^[^X>YLJG,WC(Z[<<$5!52I:]6+DHE:J MJEG)9F`U+<23PGV^W>R^V^U<2_"V7'Z*U[=$%8#O:SNP5`$52>E5X M`#C,45?@9Q9I[1\QA<;'!J\=4I5NC)6JVS(0;#'=R3R#2Z[61EIIX-5>^MQL6W)S1[BK<"5JJ3K;(I-%UEG2@]RUZCT& MQ]7TY$'C./8'B+L#;:WJQ<'_`"V:@@-;<_MKC7#(HKJZW/MU5W#W!6FB:\P1 MPG?1X-\6FZ+5JABB*28M7D2^+&DD)CY:NM"9%DLKQQ'C`7XM7K9*^R[A^9)4 MITU3'[#E,F`$"VWE#OEV9VS[#:RL.KI3J`?'7%;1NG4'V$5`001IJ"&U,NKX MG[`151=OK%2LC=/4_22F2V6O4O5HP&0[6$$$$G0@J-)[B/#_`(ZM;))6QIC: M.9S$LXR*[>"S?2K2/]?+-0^\'PDP'S7;'K&.!JJ%M,6QK"BY- MAR2W2SA=Q<;#KTHX,HC#K;`<;\//V M!HZ:8J:2+"5;UA%ZUDD792IOXQ`X.0/\5^AMZFPB`T5]_=U5WOD+DCW+-Q.< MVM=9!RBK*;2I4C[68=.G3QY2NSQWVC;CIC/BGVJ]L&WKI98",0,KBH,&!X,J MGJUZ^'W::S8A!!)L@@V1*)46Z*2")1,8XE213*FF43F$3&$"%#J(B(ZX>[M8 MY=ON8DG\3.:HBUH*T^U0`/P'" GRAPHIC 10 ex99-1_pg2.jpg GRAPHIC begin 644 ex99-1_pg2.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`&0!B`P$1``(1`0,1`?_$`+,```(#``,````````` M``````@)!@<*``(%`0`"`P`#`0``````````````!P4&"`,$"0(0```&`0,! M`P8("0T```````$"`P0%!@<`$0@2(1,),2(4%18X0<$R,S15-G9Q8B-S9+2U M%S>!D7*R4V.S5'1E5K9W$0`!`@4"`P(+!P('```````!`@,`$00%!B$2,4$' M41-A<;'!(C)RU2NU+SDW M70%`;)DDE7%1EH)Q#,BWNQXTO]NQ[)V*C3;VHRRD6I-0K"#4BI4A2%4([9G[ M0$.DVQP`1`I@$-]3%AM5HOUFIKTU2/,MU#>[8LKW)UE(^;M$0617;(,H.&KMJ0 M%$'+=8A3IJ$-U%,`"&I%S$K2XA32F5"8(U*CQ[0="#S!B,8S*_M.I>%0E020 M1)*1P/(C@>PCG`,YSYCYLR'D.8F[C;&\Y-H>@QHRCN)8K*&CV,:T*Q:(I'3, MBU11!4YS@F`=ZJ<81TOJ'"[%:0[2T;`2P'ER$SIK]Y\'8)`:"-<6?*+O M>;+1W&O="JQRG25*D-3J.'`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`DJ6$#;M0F9X3/.!6Y_8TPU1H'`&<,$PKJ MG4[/,"Y=*4X_65I'+ILRNVKULD1'# MG&=7(,X9&W2P&4V[YPD![Q0A+I:*5S)=Y:BF$G3;+ ME,0V*/:&D+UFRA^B8>Q,4I4PZVVLOZR&LY<)F_+(**"YW M%$/)OKH](H\:1;&T*VN$U8'IGGQEPY<8Y\WM:VD/W556I29I_HST'+A M^/"!7X]^N%^!V+W<8^=-%2YIRN!CH',`&+ZWA3['+OTF#MTPD!C_`-I7H=2" M.X;X^R8PU_*)-:FU6ARC<6AR9X'_`%F-*T1:+4XGL?U2NODDIIQ0*69`SDP) MI=[[,M%G!E#[>:!R@.DZU;;6W8ZBZ7%!-(FI>G(3,N\($-QZ_9,_F=MQO'WD MINB[92;"HR3/X9*E$GE,3CIR3LN)3]*8TE%B MZC7#*,5P:YU74MRE">0W`C,EWN4A&+R+6NV"2Q;1GM*0KR;=PL< M[15_DF3I9F*/FJ)R1S&V$PJ"8@B\/:'DA_;S'NB^TWR''O4?Y?\`/?H_R/Q- M$$+*P+GIOQBY>5C+ETJEDEX6D3-F5=0T2T-ZT76?HNV!$R$6`I4U6RI]SE/L M.VO3>^8X,YZ;KL5MJ&6ZBJ9:`6L^B-I!,Y=O*/,2UY([@/4Y%]N%)4/4E,\X MK:VDDJW`IT,I:'B(([*?B*X^O7'KE5AV+QY>F,UR`R5+7R"E'3(HQ\(A(J,% M"-),2"*IG"7H0@/2`@/5Y=5NQ]([G:\LL60O5E*JGM-$EA:0?264A0FGP'=S MB=O?6"BNF)7W'6;?6IJ;O6K?;64':V%;=%:<1+E%:\B^9-9Y!82XMX:JU*ML M+-X/9(L)R6F&Q21LJ4L:5DJ>/,41/TF5+N'5L(]6P!J5Q7`*G#\AON2UU53N M4MR*E(2D^DC4D;O\(CLCZ@IS2R8_C%!0U;53;-J7%K2=JA(`D:XA:5N!3)YCE&X\ M\\_3"I[ZLM+3-F>?K1P9_6W!&95K%.A2F]R9:*(/H_=#-^,^"K)#\$L=M`K\^BQ M7RAE:;BEI5L?TB1CAD8)#UDT,!"E2L)0TDF8T,CH?/V3$^,*/KQCUUN>-6JI6R?^R4A_E(X?\ICM`,N!ACL58(7 M(T55)I:]*XFR'7*]%UF;;2\;*!'2A(5L5DRFH619HJ&25[.TS=KM9M[[50EQ3ZBA.U">* M1M,U%7"1TB3H45.,V^YN9+DHR"DJK>XPW1(2\YO=<$D.*+B9(#9]+<#NG%S^ M'53G%=QG>(F9C3)IR4M'J+-7K;=!RU=1[I,[=9-4HIK`9$VRA!`0Z#@`AVZH M'5>I;JKM3K;4"`VH:>,?AV?;#O\`XEVFHM&*7!BH0I"E53:M1+BE6GC',ZXX&9M)/EMC*.K[E!^DSDZ]7,CU@%8^H94E*\^<-I12ZUR MM/EF:'N,^)/)!_`VBM8OS@ZR MC69M)D#./:U`DDPM,=CI_"2AY&PV&/99':!/>AJ&C(ITNU9E=@\;H*-5B"'. M?N$QM]5.OL=[%_3EOHGU[][?]S^E?C:((R1<^O?#SY]_Y'_#0UN3IE]%T'N! MY3&,^HGU=7>_5YH#[X/Y0^/5_BC\XLG#G\6,:??JJ?MUEJ"R7Y'5>X<_08FL M?^<4_OD?J$-"\7GWH&O_`)_6?ZTCI!])OD;GO3YHTOFWS!/L#SP*G"CWE*#^ M8F?U,VI[J/\`1U7XT>6(G%/GK/\`N\D>3RX]Y')7^OBOV?\`2V^D9:_JBL]XY_ GRAPHIC 11 logo.jpg GRAPHIC begin 644 logo.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`0P*>`P$1``(1`0,1`?_$`,T``0``!@,!`0`````` M```````"`P0'"`D&"@L%`0$!``$%`0$!``````````````$$!08'"`(#"1`` M``4$``('!0<#`@('"0```@,$!08``0<("1D1$A/5EAA8(4&!P10Q@L(5%VD* M(A9HH2,D.5%A0K8H>$EQHC.#)W>WB3H1``$#`@($"0D&!`0#!@<```$``@,1 M!!(%(=$&!S&1DA-4I%46%T$B%"1D)66E9E%A,A4F"'%"(Z:!P5(S,SN+'=Q5#L6G0MS9C!E5J[\,=#-._14M;&P@8OX..'^8-6. M[L7PU6=6)"U';O3I.2.X+R&PL&P1.ML&_1VR1A5H92N(*,^T-CE`1VM[+VM6 M>6KOW"740FN1L=9R$?[7O&Y+?N=(UT+21Y<+:?8L:G9NKBD,<3L[F:#3%ZM& M#]X:6S&G\757-8CKGI/L`K31W"&T\NPWD9Q'9,R0C;:&LS3&9`X&WL!,V-V7 MLZQNFMER^P>TA%OD&:RV69.T-BOXVM8\\``N(7. M8VI-!CC;4Z!I7!\C<-S=G&4]9<=/&`9F_/$H=!-$4=H.F+F$2DJNP.U#9#*& MD9C6WV&3_7U7$2$P(;7N((>B]7G(/W`[G]HLDFSZUSRT@M+:/',RX)@GB;P> M="^CW:=%8A(">`E6[,MU>W669BS+9+":265^%CHQSD;SHX'MJT<-:.(=320* M%;C/X[&_>P>%-V87H[-9/))#A',"V:0R^/9(N/=2\4Y,BS`^R!$]0_ZDX\;" M0J4QD]L=$*<841]E`%%R^U("*]AWU;(Y#G>R#]M,O;&W,(61RME8*<_#(6BC M]`Q>:\/8XC$*8:T)"R;==M)FV6[0-V8O"]UI(YS"QQKS;VM)JVO!I;A(%`:D MFI`IZ#]<8+II*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$ MHB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$ M2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1%Y2G M&%]G%&WI]E[_`/B!E'LM:][W_P"#:O9:UNF][W]UK>V]?HKNP_Z?Y3_[-G^: MXPW@`NVPO0.$SO\`^=RW:Z-ZN8QX;VK,EW%V!:RS[J2B!.D!CKN2 M1_;6+(D%1:X44SEJI3T_%!`&O?$W@P,,FE[VX>E]@=D\IW9;)2;9;0,!SDV_. M.K3%$UU`R!E>"60N:UY\A=@X`XNU8(<%;#\2I]GNZNR^1V7`>M[%9P'?(\P` ML5Q^-Q)I6#)!"\01"QZ4][3-9][)3%77(+7.@Q?UJ5@Q%5TG-MIL'^WNRLMT M.[S+YL[V_GP^JP86RRSO;7TB^GH1&7CSPRCC'"!HCB`]@BMNT.?;X=WEF[ M.KFVL=JMG8`73BUB?8YE%&-+I&0F2>WN0P:7-88GTT@$5(J\JRW8/:JX%E;R MW&39L\@1F5[9[9SO(TO#(I(2[R.<)6CRD>7LF:&N6PVJ[AB[3O<.:Q.122>I M)RMUV=V21.4A<[1[%QS&)[@,D>E[>WA7@.:7D+A'P7N8J3I$BE*=U>HF`'\^ M]]5OL)O*@S+>ONIL[J#+[%]NW-&21,B9SMX).;N8HVN=AH^/FKHZ&.>^.1E: MR./3NP,NT6R2!4878HAI(#7-.$8&C2MPF MO^>+@7_S+9I_[NY6K]#]L/\`H:?_`-/9_P#+`N9MEO\`JDW_`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`(P(K!O?JWO1%D_1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E M$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB M41*(E$2B)1$HB41*(E$2B)1$HB41*(O-HSCB-OS?_(:S1`WI(!='K;;2672- M&8&PR53'`&(B:K$:@%^FPTR\;&!.9:_L$`V]O?76^U>U,^QW[89LZLW8+[\G M9!$X<+9+EXMVN'WMYPN'WM7-EEDT>>[YV6$[<5OZ:][QY"V(OE(/W.#"T_Q6 MR+BS(7O-3MIOINS.*AN#LCGDQQF2A(+J&E0O'R-(>YJ1!M[!`0`D)ZX%KVZO M;HB[W^RN._VPS6>R%KM9O8NXVR'9_)0R`.X#<7+G!@_BXQ-C/EPR.^U;OWN, MFSN?)MC(7EIS*^+I*?\`EQ80XG[0T2.?3RE@6NCCA9?3Q%SPII-C,D$6Q5C& M!,$P=HNU7^F0'*U'UC+C]G5%%=6QZ>,QUL,5A"/I[14XW.%TF!"*V^_V<;*R M9I;YQO?VA<;G:;,;V2!DS]+@T89+F1I/`9I7AAIP,BP"C20M8;^LZ%B^QV'R ML6-T-)-6QM-.'`P5T\)D)-3I&BAX:HJCC4/Y,\E/PYA%KQ MQ>UEPDQ"Z?2L)!;^I4&(Y0*0MG2K$),64%'["A]8?3>W:%I`MYJCJ M-\\FC\;?.T`8>`U*XI>P1AO:_0((K7M>WVVO:_LO:KGI!^]4(JTU&@A;/LF; MYR258XX>$Y2R(;CGO4B13Q$]C6F+KJW5KCKUCEPQT[NZZX?^,(DT:;C6M8() M@S31(CQ&6MVEKBYSV=W*9?EF?[>9-)`(]B=J+>V='A#<+'RQW3;IC&_RF&5X MFCT!K><8&_AT;;S7>'<766[-YA'(79]E#YFOKB\YK'P.A+C_`#!S6X'::NP$ MN_$KA\&60F2_C):JRTU(4WFRK->1I,:@3F&'$(37^"9)=C$1!QMK&FDI1J[E MA$*UA""&U[^V]9KO(L&Y5NCN\K:\R-MK&"(.(`+A&Z)@<0-`+L-2!H!*M6PM MV;_>';WI:&F6XD?0:0,0<:?X+U#:X%77BTT[%\5Z,X$XENKG#YG>I.4%,AV, MD'T.&MBG%XQJ#'2U*;&0*I<]Q1*F>'R0QO6 M[/KU-\>90PID^2GKT+6@CKI)80MZL(?%CJZ)48DI_P!4:C4K$PE5B$B@I6(B MT9,KAY]/YA,IBN9K?GV.^'SBIP=,)P5V$-4Q()#!X3!5R1^`VF7^E_."\J99 M4R(I18':W-;$-A"$%,58)%WC:(L08KJ]A+`.Q^U>[S8J,BDCV(QIAU!G6Y]T M*>)B+UN09(LU9%.[)(!<6^J(?,PH7(TPTPH:-D27"`([&B,(M0.8/Y`YN.M0 M(AQ)HOII()KP])=D[]/6[*KEFQEA6>7)K+R+(<8F3QCUW6X]=D*B/K)%%U9B M`A=+VYP4HQ$FG$);#%8LBR/XI7&ABO#$QGBK,;UJIGG.V*,LI(T)HRE!%D$C MN/F=]F2=R-]09^^1J,N6T3+.L49(!B]]E)0!-Q&4L4P)^?)''$!1@^J8H)6 M+`FB`,I*%2I[-.81?1XF?&$QWH$WZSO[_K'D'8K#>S\DQXSXXS;"I)C`.)P3 M"9*U#S$&P9KT]K94>ZBC39^?HU:=G&WF)>SN4K[:P@ED6IK^8[E*8,.E>!8( MWXDR@=%K;3XHG*S.+2Y0Q)CE*](HAFIM3XG,2!F)6254Z>$81N)(BV,3,!(5 M_6M^HN$FQ%NMF/%20:\:6Y*W.W:U2SWJ-'X%)HY$XSBB5.6*\E96RPX3`MA2 MP\F$-F,)S(&4A>_/KT-#],ZK&XY)=&>>IL20#KT16Y5<6G(6+.(3K%H-M/J. MFPTZ;AQR7OF#\CPG8%JS(G+61%O=5YK#DJ*DXQ@ID37+[M5R`FH'![3`4GE6 ML8,OM32B+`#=[_\`JOX/?_E%V$_[F;/T1=JRB+HE<'Z3&;__`,F?B3;-9T+O M*7K55FRY`M>F9YO98BQLSQ++R+!L14,"0\(B&U6VP)*ZW,[$(+""2YKRIL8S8"@*K'['(E$FS3,4+W* M(3CDV5.T'AK5&F1P6J5R4A:N*N0C`,DH1@@D$B(M>G#\X[QG$9DN/6G"G#^V MJ2Q1VS'D/$V9]R*0VM;?LKC36-_5P'(VPF1\W$8%Q1,,M(2Q*5>, M,'JDF,LM/>17!$D"$:EV5)69D)"<08%2:G5)CSB+Y$+XU6*LN\//.>^&%,*S M^=O6K)LO0;-ZQ/,FA,!RYA5ZQFC5.F36Z0K)$XWCSD".,:$Y>B&B&>-X(!V2 MB+BDHXU#3'>%UB+BB-NGN?,A M8YR3%GR;2B#8[>,>NKAAR(L#E(&Q7*T4A#XDJY*:5>]^ITW(K\41*( ME$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$H MB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$7G\Q,2;&]' M9LRTTPWF&O\`J$3JT^^A"Z_?&D*5%\0'(XE-C+%GP?$YJ'KWOT71?V*UE6N5 M_P!!?U91OV?]KIKN3]HKHG;CLO$=,3;R]#O^+TEYT_?A+?\`!#<% M_P"$Q0D?PYF/_.JO%'6J!%:-HI^+$F$UQ:T MR94:>U#"M>O[.6C2JCSPF76#L$9_7O:]KXI?76=NWR/R,9IG#/A:`_S8^?:'L:V@C%0R@5\LX,N[D,OC9V+KP9&^3&;>(NYR/-&6 M[7FK=+^:<6DFN(Z756&F=6YAGVI>"]CW6$1/'^4Y'E;)&(EXX+&VB"QC*\'@ MT>C3RVY#+A3$E0,*-]C[V^'L:]>VIR$JX11=C0?4%#%?;.Q<][D>\_.M@+6\ MNK[9J#++2^;Z1*^XFLKBXEFC?:^D2.=(Z.6.-MQ''*YSXZNPGFW`#"MHH;;, M=CK':6>WBM MIA7YZKLA=/SC&9%QZU?R$N!6-UGL);`0-URC_?(G&6,"&T+_`#C\L5L_]V?5 M.!7]N?G"906-)]9V/U01VN5U^FU$7W./Q(&&+<7W^.M)).^,\1.-=1GKG)U<#TZ%"C)![1&FF!`&WVWHBXW_('R#CKB79,X>'#A MTKE47S]L.HVSB.>L@2S#[TUSYCUPPY$6:01R02[(\QBJIP:H:%7>2?F`$IRD M"DTIF#_M=JH;PJ"+A?%9U\S!PM.,3B+CQ8?Q[*N+P)H4/4EQ\ MU+(>FQ<_SX]H2=6YD7=(]R+M(8PWLTSS)AU#L M!CG:'!'1K)K4P)->2W:'',3!MU),=Q_.&1= MBLE8Q+D[*4ODD1>T:=AC#4OZIS.O2IK*BK#L>:$)%U3.)7Q!C=X^`4FR-*,_ M:I8V6I2K;E8$BU(:29>%G@:7LS@A>8OYW,% M2(M_:%:=R9U+"MQIF8U$\)'%&8]_2@AK7 M'0KDQ"8]&X"5*4@RCR`CL=8BT4[2Y]BK[QXN!S.<@;V8!V=,8VO((I[E+%=L M>0S`D%>9$V/Q*.-Q=^9I%)DGT3BY*RRTY3O(W1TL(TBP[E"4%@&19P;R9,QL MG_E6<)LQ3D2")BXIK%G2+RDQ3,(ZF!&Y,[0_9(MHC;^,]R+"SO[N:Y)@)$2B MY:E28H*"4`0C`6N1=N*B+H_9-Q',^`9QV9IQ#GV+O[MPSN($IE\9S1D^,,;D M^-^N4VRU)&:;O9V0D32E5'-#4UY;9`.J)7V82E$== M(Y_IS)\HS':^,,>,TL;DD,2QJ4X+R#'I+/#'5:W0PAQDP[]1X<$*18J2%VL09](.]S2*T/\`$V=( MW-^'QO9B5AR'&&[(,OW'V+6,S=H+/75MBK@R M0MYB$$(9,IFGO)Z$I;CMT*B:T"9\"*Z`U,C"=8WL3"1C(L%.&7KYEO*&B'\F M;:6(P^3#Q9ORNVL7ZI-=V=Q3KS&)RE+LTR.^44#:W*$Y0@ M+%J5027<0B;VHBOMI3M'K>J_B;SG&%\[XA1Y.C>B>Z,$?,;N61X@W3YMEY[A MFK\MCZF'K7H8 M`5R+)35?B`Z;ZX?QS,&)\H9JQ"]2X>AJC'K5@I'.8H_Y-R)D"40U]C#%BMIQ MN@6*.GJA3Q28LZ6(2!89?[+E-S>]C5"_P"HBNQ, MZV1FVY_;9)LU:-Q7\N3MDA'VS0.$\31][WQAG_>7,K,\CV3_PLYM0-.L]^6SPSNTL]X&2?ULM?;L9(YOD:23$\C[\1C?72U[6M.DT&N MG6G8M6GP[L]!LGY@3MX+ZV!@&O\`')<&[BV)I-;*,*FPX]'F_P#)'1K;4:Q/ M&SSS[J@EI3%-PB'>YIG6OOO>%L%$_:O9S.=G,J<\]X/2F2YG89M=AH;EO-6K'@N&+TB&7`T87-:"(W M.-:-+C4^<:K%4O8?)!LT:L@S,<9RRY1Z/'QID8,MQ5HF\%:6*Y8^Q:VJ#JR4 M\=9D:(PP1I!:(A.`DX8C`VZXA"OLI^P>0,R>7(LH](RNWGG$LDME,^WN'R5% M7ON&DRR.<``XR.<7-`:=``6(P[49D_,X[[,.:NRQN!K)V-DB:S@PMC<"UH%2 M0&@`$DC22NR%NCA3%&/]:-87[!>JVLQ67MC)WAK&IRMPPRQ/*'M'8[9[2[1'9;(+*_NP MUM_)&2VSN6,:)'T)I:_1UK_;78>U>T#]K-Q;MJ'P>C.S'*[:YYK% MCYOGC%)@Q4;BPAU*X17[`M([*Y6W)-Z# M)O\`(HYBZ'RN08$=VAQR&I1LB]H:V5\8VY6<"YX[@$0G-N*U@AO1%VM\40W# MD>E3'(#DPT9R(T@HQ(:D,*N28E,3##W11%8AKU-U88XH_P1EUHU_:(/+'%K=Y3#6O#6.F^*25V8U):UE='^.I(X4T M/+BSK"@&I3U))AB[NSBGQ]$8=E1J?'U!'XHT*RT+`R+WM&08*P"RP&*2P6MTC#:Y%V0M>F_ M667QQ!F;`47Q,H(DQ*Q$HR'`H.Q,#@^*D*DQ"]$JG5*QM+NIN!S3F!-L=]HP MWZ;417+F6',19%<4SOD'%>.)V[(T/Y6C=)E!XQ)W%*V=N:J_+DRU[:URDA#] M2<,SL0BL7UQB%T=-[WHBG2G$F*IS!BL837&6/IAC4E.U)"<>2F&1R008I(Q7 M($R)2HD[-JM@+3LPDI5TH+)[!3W+#V=@]6W01?!4:]X#5X['B%5@_$"G$PS4 MQX\7J,:0P['8ST1I1Z,X<),911H1J0\@`RA73=)8P!N'HO:U$4E-KEKVC#!` MI,$8:2AQ:4N(QD%-B^$$!QT0YG)U+D3!+%,8;1$IP4)"C#PM_P!/8T90!"Z; MAM>Q%6.>`\%/4A42YXPMB9VE:QQ3O"N3N>.8>OD*IW1B)&D=%#TJ9C7(]Q2C M3%W+/$;W.*4A:@7)#P7+ M/2K$BD!J=2G.+%<(P#"((@WZ+VZ*(K%PK4[5C&LC+F..=:=?X!+BCS514JA6 M&\=161E*3Q#$>H+?&*.(',!YPC!7&.QMA"N*_3?VWHBO4_,#%*6=QCLG96F1 MQ]X2F(7=B?FY&[L[HB.MT&HW%L<"5")NQS] M`,38T@[XH;QM*AYA\$BT9=CVLP\A48VG.+*U(EAK>8I3%F")$.Y=QEA%>W2& MU[$7RY_KW@/*[PED.4L'X@R4_H4%VM$^3_&D+F+PC;!'@5";DKG(F5Q6IT`E M)83+D@'8NXPV%T=-K7HBNND2)&](E0($J=$A1)R4B-&D)+3)$B1,6$E.E2IR M0@)3ITY(+```%K!`&UK6M:UJ(K*M.L.M3!*7F$)N;C&(1Q@ MAZ_*6)Y1"\<02"Q&R0V8SYW**''IJ)-`\>GY\PQ@G'40R:O<<W21;SZ(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*( ME$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$H MB41*(E$2B)1%Y2?&&M87%%WJ#>W3:^P$IM>U_LO:Z)JM>U__`&VK]%=U^C=_ ME)]C9_FN,-X!(VOO2.$3O_YW+=/PR-W<=;=81,TRV-/0+\CHX2LQ\G1R!2$L MC-N,K-@FT@E$K.%81D^CC0$)*@D-_J5!:W ML"U[,@=>-NBZ(5.7W>/&2YHX+:5]7-=^!I1E[NG M9FJ7$C/C9K8_W,`XL1CI]&Y)8--STAMRG%N5IS6EY$&ZDDJXA",*VI86F[?] MU>76^T>6W1V?WV9>QAD?`:2A\5,$@9B8;BW#A6*5CFS0:(WN``:[$+F?:KX9^3EJF68KRS MG364]S.$K5XKGF(KY=?KG(XM+HC+R'H+249>_8@6EJ#`@Z+=:UK6#;= M>07_`.X;9R%N5[2Y7DVT3(QA;>6U]Z%-(!P.F@G@,>,C\1C+03IIY5KS-+3= M;G,AO]KW3-&[\=J MX?0,M9E6RMH\4?<&9V9WH!X>8B9'!;1NIP/?)(0=(:#I5)8>'613"YN'7F7AO3>PD6 MTFU5S!M5M7&RURBVTV-HUN!C/-+/2'`U/FQDMC<\D:2]@8T`NU*<+]\)DW'G MQ#(DRDE:F?=J\[NR58G-+4)U:9>RY94IU*<\H0RCTYY)@1`&&]PB#>U[7O:] M=Z;06;\N_;]#82-+)(%YE%)3S M$!$?8USNVU[569?;F[OX+4-Q&69C*:=.)P;31 M0^7R*FO9A;V3RK$_3?904NU7U,FNRF5<;LV<]@\%Q M7,)T?<'6+0-4[_GL+13Q^+B$15.)"]8S1-E6]=28792).04(T\RUK7O;(]I\ MA]&VAS*TR*VG?E%E=OAQ`/D#<+S&W&\`@.>X:`:5)H`K+D6;MGR>RN,TGB;? MW5NV7"2UA(-Y9 MAB-MR;/C7Y#&280P3$I2]-(7),[+K67B++5#;R"CC3B[!*'T>,@V.S?.L_CR M&:*>VD(Q2.="\F*/"7\XYE&FA`\VI&(D`'2%ZS?:3+LKR=^;QR13QC0P-D8! M(\N#0QKJD5J=/#05)&A9`/\`GW"L/9XR]S++6,XTW2YC#)(^X.,X8"6IZCX2 MVX:J2,[BH5D$N,527=DO:.8;61%A5$W,&#M06O9H%P M#P*/FF(JT-=2.E>%8Y=9EYH#-$K^:@:R2/<',T=29>FV%XQ-Y[(IVOBT-5.,D\!H>61Z M27$F3#5H))<20*\"N&47[K7(K.;/;A@OY+=KWN>6LJXM#WZ-`HRM"0*``$K) MUWRYBU@E+?"'O(<,:I@ZV9Q(8TND;4G>C@R)::VQP0F\Q4%00&2.9!B5MN8$ M%G!4`1*?M#`W#:P19;F$UNZ[B@E=:MQ5>&DM\T5=II3S0074_"-+J!7B2^LX MIA;R2QMG=2C2X5\XT;H_[1T-_P!1T"I6,>,]]\$Y'R;MA#2ISC1DAFI[A#FJ M49,6Y5B`V5U5/$/;Y5,UIZ41R8N.1['RI\0M*I>>J-(.=KJ4_P#M&)1@%?[_ M`&.S>QL,MNC#.^ZS%KRR(0OQ-#7EC!73B=(&N>&@`AF%VD.5HL]I,ON[R]MP M^)L%D6!TAD;1Q[":-><5&.-*!QPNHTZ3A-!H*O8N+=SVQM>PR/87-%15S12K@*U+1B%2 M-`J/M"^)?+6,?[_;<5`GT4.R2\-,C?6Z#IWM`IDRAGB"MG02AR_*4YQJLE(P MKI`A)4C,"&Q1JLH%_P"H=K5]ORW,/0G9B89!8-EN:XAE1BHT@.-.&@+@#]Y"Q&X=.1O,$?,?PIP8,S2''^+\V-S7NPN#'"9H1>O!K'C:7MA)&YWNMLSNQED"D^]V9ZNV*;(E@>E*KNF.[$P?9#ZM%=Y M;F%AA-[!+$'$@8VEM2VF(:1^)M1B;PBHJ!4*IMKZSO*^BRQR80"<+@:`UH=' MD-#0\!H:'059O6;<;!FU3$D7XVFL:'*3X^5-%N+SY9%%^38U!W=X<&^(2>71 M%B>71='$TK;TA*PHL_\`J(LJ`2;<)UA`M=,_V7S?9V8LOXI/1P_`)<#Q$Z0- M!>QCW-`<6$EI(X:$C1I5!E&?9=G40?:2,YTMQ9GK#R=NB!3:HE#DLR/$438Q)7EZ6QMI6.;BK=R429"YR1M4 MMR<\1G9'."8U,$5SBQ@#2_D&>XHV"SNB^4D,`B>2XM:'.``;4D-(<1PAI#N` M@JH_.,IH]QN8`V,`N)D:`T$EH))-`"X%H/`2".$+'S-O$2UTQ6VXI51C)6)< MF*\I[$1K7Y.G9\P0MO1L"H4)4YN0#W8H2+$"-M6'.J>P`WLK)+1C-(- M.#>UZRG8C.\QDN6SP7-NVWL7W-3"\EPP8HF`:-,Q+0P_82X`@%6S,MJ,LL60 M&*6&5TUTR&@D:,-31[B=.B,`EP^X"HJLHOURPO=.6K+RSCA2E,R6FPQ]4CFD M=6IB\O+%)2)+C!0>D<#BDT_.6'EDA:#+A7]J8`'9=88;7Q_\HS6N$VTX=Z.9 MZ%C@>9`J914:8Z5.,>;0$UT*[_F.7TQ<_$6\\(M#VG^J=`CT'\==&'\7W+'/ M?38]SU>QACF?B>B(-C]\SUC.`9GS`L8+R1#A/%Q^1Q9_?SV>$RWC+.62"$.PF>9F&D0/"3A+Y, M+2'/YO`T@NJK9M%F(@TH:>1Y MCD.O+3F[/V6\Z0&;:GL^'XS.L1O+B9"8Y)G&8$)I\ZR^-WF;$8VQ:7-L@:&M MAO&QID!*@\]9;^7*X[C,[VXCDR5L`?&3@:XN`>7-Q-HUP(#W@;+")"'2LHW@Q#$2*X'5:33A%-!T*]F0LR8 MIQ.A1N.2LB1"$I7%PCK2W"D3ZWMQS@Y2U^11:,(4"4XZRI:I?I&XD(DH2@"N MW$Q;*MNI9J.P/T,=93"\5,L^>W)#D&.JW0 MJ4NTMFYCH*1QMHA"AU=/]WM4*90G[4@%C0CO=I]F,PM]FHMI9F2 MMMY;ET;08W`8&LC<)'$T,+G::@4J--5>!@SMA65+9.WQO+..GQ9"VA1()80US%@6"CT?2+7- MM6/[J(E>,"1B0N;*M2GK!7LF)5(SR1C"828$-KFR?-;9D;Y[:=C)7!K*L<,3 MB`0T:-+B'-(;PD.!`H0JZ+,LOF<]D,\3G1MQ.H]IPM!(+CIT`$$$\`((X05P MYBVXU:DJU*W,6Q.%G%>O.B"9O2%9)B0#W%5D!<\ML#1MY9SJ6)>MFJV/K0-) M)/7-[;29ZP#P:]1-I:7"$!S[@]GV>?W,(S/T]P5F&;'8A:I"D!8-@`< MEF2'Q";8T0[!*;FQ<*]KWZE9;LALW:Y^+N*Y13[FN%*D+.*83B&X M_:BGR<2ABB;2H<4+.E7/SFD;"%KPYFW);&=!=4:6)<[.1UK@3I2;#//%;H`` M5ZQ*VM+J]D,5I&^20-+B&@FC1PN-.!H\I.@>4K(9[B"V9SEP]K&$@`N(%2>` M"O"3Y`-)6"6G.Q`LBY"V9!.F^8;49(+&RL#9VCV/9ET,EW(ULA: M);A\CHA(7%S8R8>:H*M#B20%C>0YH;NZO/2;AKF.O9&6["6`F.%K&O+``"\" M3G*FAH`*E9#J,[0J9R3!#=BG/6"5";);U*7HEF5O;?)Y1EF!PMCDB63H\/I6 MF6-0C'6.2Q,F,='&Y+FG0)$2H@Q-8T=C2+(W)[NU@O'YC9W@=`QC<0:6,AD> MYI89B6'0YA(8VK"XN:0Z@H;HVO3\ASN-XCDM+EKS$V6AC>#S;S1CZ$?A>=##_,= M#:KRW-\J>W&RY@+!(Z.H>TC&T5%HTN'\HTFBO:$01A",`@C`,-A!$&]A M!$$5ND(@BMTVN&]K^R]6G@T'A5Q45$2B)1$HB41*(E$2B)1$HB41*(E$2B)1 M$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB\[#^0 M3PV-B<4[KY:V?B&-IGD+`>PCRWSI/-(9'763)X1-%3,W-LJB$V)94JQ2P&GN M[:8M;E*@L"18E5!+`:(\DX`>W-R^WF1YALK;;/W4\4&<633&6/<&\XP$ECX\ M5,7FD-?LAFT&?2YO;1.ER^X.+$T5PDBKFN/D.*I%:`@BE2' M4T"HL=9>;%J-R;<>Y2;G)N5$+F]P00R9(EZ!:E-"?[6=V&6@"5;V"=&P]2.]ND:B]_;7)^V?[5MW&;YC^?["9G) MLWGK7XV^CR!\#7_ZF1\XR2'3_P"3,U@\C`-"W?D&^':ZSM/RW:2RCS7+RW"> M=`$A;]CG45(NU6-F,$KXA8.V'T MB,LF2`DSAV&VVSU_:-T-?>1XI*>2K MO1WO)_XI'G[ROI=9GNAS%_I%SL_F4$YX1!(W!_@'2M:!_!C?X+Y;'L'IO@A< M5(-<^%CEN63A`8%0RRO8M1+I(F:%I5^L0O31T+;+$-E!!EK""(JZ8T-[=(3` MW]M5%YNSWU[:PFQV^W@6EKD[Q22'*X&1%[3PM,O]%U"-!!QM/E:5\[?:C8+9 M]WI.S6S4LM\#4/NY<8:1P$1C&RH^XM/WA8T;.;L<07:I*N8)TWY&BN/UM[A/ MQMC?'BUP.*U01>]NFQ8:V'N[W&[G]VDC+[) MH8;G/&<%W=R,FF:?MC!I%"?OBC:[[7%8GM7O!V_VM8ZVO7.ARYW##",#"-.A MVDN?H\CW.&BHHMIG\=CAG[%S#<;'>X.0,=3#&&"\#E21^97Z:,3E%562IN]1 MAYB3&PPUM>4J1Q=6=J`^G+W!Q+*^B+^E`F"8(TZ]@?#?=M]D=OLQ/LQ93Q7& M;7A:US6.#Q$QKVO1Y[>1OBLK>I!<*@E7%ZZ:2B)1%A?Q%$V2'?1O:B)8?A^YF@?&T-%35 M[2VO^%:U5B"M<#91D_AW,;IBLQPQ%JWK[.).[. M.AS`[H8O+YBXEE#*^G3C)`/KA,N#IO)ST6^7YW-'<8?]ITDD\S MP6Z*%[(6DUJ:D<%5:AE+I;S*HGPUL+.U>XES1_N-8R*)E#IJ&NEM3=6CIOK/FMH>\@<3M=LQLKCE'$(^?*&AK,R;E;.\3&KB9#\,E/!F MV>M$*CYRE2-*`!*42TT($@@G#RBXOLKAVDS$6E_:.BAR`6MK*7NP./-0V[Z/ MP_[AC,\@`KI.$5=H%AAL[^7)++TFTN&R2YP;BX9A;B`YR29OFXOP!XBCJ:#1 MB/FZ3=&=8@RA-=S=IHQE+`.6,A8QSMY;TT#<&2T:;L7R'!<*A;6"7X?R=EI1 M(%I^-X5%LMFR!]?(PV-]W.87<"`$C6HC#TU6ZSS/+[39;+I\OO;:#,+/THR! MV(RMN)'G!-%"&CG9'P\W''*]V&'"20QP#E67.7WEQGU['>VTTMG<\P&4PB-T M+&#%%)(7'FV-EQO?&T8I:@>Y[G&O/%B;B<`YC#-]B=MH?CQLLWL M;2L<9MK8D)U]P0X26"(RGL*Y]CR?$L?D+R*]RR"[!6C+L.YH3[%UF4WV3VF= M[-R&\M?1+'+7R&KB!'='TFX#9#AHUW/.C9PD^:#2F&M/F-GF5SE6=L%M.+B[ MO6L%`"70#F826`&I'-M>[@`\[AK6EQX.S%*L.YOQOKI$L7 M!B)<3;(:'#K`Q.YN9\#Y3RO:1*P8;BBG(#BI7RMN:TJEQFS4-&C1'JRD]TMZ M&RO\KMMF;.:SN[6/-+2>Y?+CQE_/N(P&PN>0V!^)S@TNQ*KNK M+,)\\NF7-O.^PN(H&1AN$-YH-/.PR28OZ3"\DR!H+I6X6M)``-T->((_6R=L MEC/..L$JDTOE>YSQGB^7I$TM@Z1 MSI:T=&\-J3YBK,KM)1=W=IF-F]\\F8.FYQP'-.C8YIMW!VFIB8UC6QTJU[2= M`JY6+6XKS.]H8\F*H\SQML9R51))B-X:2A+/IKV*L/UEUQD%M:Y;E^>+7K&T/;E24\)[HI6B4J%HR[#+./I9F9<[* MH+3-G,OYKG+[*XC M@MLIEV/3FB1"`YG(^T@A"(8BTJNPTES;D&6".P@UD>WV>&:XM< MNRF\YW*(V5E2$Q]BG[CK)% M9GC[&*3'4>?T2@`60&7L`8I6'ITEEB8LY3)/^($4888,-SCVGR^VV@R2#TC' ME-A81-R24RN:?Q;4`*V/R&]FR;-9>9PYA>7;W`#"U MYMVO9&(VGR-4VPAC[%FB"W7##_Y&T$P# M(>48E0.0UL@<@-?TX"PJSVRIL9I,O MV?O717=[<9P+J;$[G(XH8XW"1SG@X7R2-QR.`+FX8X^"QK6D5:QAPL::-=5[\%*8C9?,^J^=)U"G!XU1Q#,,FV=9[E!ZQ/>;-$587,YFD+6R1W'^*U@&]W<[MEEDFD8#4 M1G0E.57NF5;191:7;8]H[J*=^89Y%>2X7<]';QQ-FYMSW#$TN=)*W$QN+#%& M0\><&JBO\GS*XM7?DL#X66F5.MX\0YI\KWF/&&M-'!K8V&CG8:R/!:?-)5Z\ MD:]JZR9!993FUCP5K(P$Y-B$:@$AA6O"K(S/%)?$X;B2[LX#Q'B M?"^/)"^.)`E"H3VZN(E*O_>!9"<9:K'.FY7M+:OO(!MHV-\>2D8"=B=2\V218D`A3-"K8J'L MTU0WC);80&W:R`MECD'E#DKZ`&E61-81]>RJP@S>YE$W8S+9'O)SEOID#0:E MPMGN8<=?].)T\31P'%)2F%>;6QD.T]\UC1^6.]&E=2E.?8'##3_51L,CCPC" MROXEEEG+(,CC$MQ="%N!Y!E_"F5R9]$\QR-B9$TR38Y*$TM-HI>6P'H5NTJA M4V$K<&Y?]&A7W2WL6,\JR:YHPXWE%E!<6UQ=MO&6V;6QC?`USBPRZ78\$F@, M?'1KFXG-KI`.*@5\S&ZEAGAMW6SI\OF#VRN`Q8-`PXF:2YKZN#J`TX2*56G* M?:DY1QEJOO[BW`>-LC1W6#.F?=?V7!N`(LPN+C+,:X,0F:$*9(K;8P2!*:G+)/5ITB8M86"MH66TF77VT.2YAG$\#]H+.SN77%P]P M#)9VME=8LDE%&N?'2(.E-020TN<6E8+>9-?PY1F=I81RMRFYN81%$`2]D3G1 MBZ>UAJX-?63"S00`74`OF,?BB].D MS-E&2XWC$9C"Y$6K=237F&P!ED1_5#8](E,=+#+,[6]A6PJRSEV4;)7]C:79 M&8W=]"PACG@F")DKWO!H/-?(Z(>1Q#*$462W66#,MHK2ZN;<>@V]I*X%S6D< M[(Z-K6D5.EC`\^4#%4&JP9+9=@I`BQ5!)]K#L%),B._$O5Y$V?R7=CC"J*/< M#P]/)_D[7=3$7YZEJ%.NPJF21>!M[=DV+8;@2!Q&'(L=3@;F4(4EDK\ZS)00>4$L#6XK`W4GIC;@JBL[_ M`&?M9]EO39X9,GMACN&"KG-F?<2/>98Z?A8T0`@UQM;YH<*JIN;/.)X<_-M% M(S,K@X87:&AT;(6,:&/K^)SC*1_I)%2-"L?FMIA;1K)-G`_6W8:'.^=&W"VJ M$!-<,."73>$XKBRMYF=L?X_U!A2R6S]5K[C(<<#>0-QIIKI,3G1:-2I`UE)E MI-WRF6ZDS^%@O[*6*T=/>24GI'),\-CYR2]>&1BYEQ_TW`!D`8S"TR%S3;LQ MA@9E,I-I88\/GMKBF+G5.#"X7!F[)@S8W4WB M5918WI\E6>I'$F)`^166X+F6!)GB')>',8HG36.!13%>3DR>>-#HOE*U,Z,Z MTU4I$[N#WT)C`E6+3%45I-F^1[29#E\S&1Y/'*XM>RX9<,FBFE(NY'S1$QN` M8"Q[0!@;'YPK5QJKJ++LUR3-[R)SGYD^,5:Z%T+XGQ1@V[&QR4>"7413K9%R0P1ZP70MD>C6!J:FV$MJA+88GTV&1 M9C0,_P!0"][."I(8H!8-C[`MK/-9;::\%I8/+LN@'-1.=HQ-Q$F0@_AQO=W)D_)&M\5"M<]/= M[<%P@&W+L$5LURO.X]G-K1OF&]U'55!&N4S.:-1,@+1(F&7PIF>VQ@DX#E" M1O2KE92@:8#G<0JBYM\A989SD^2W]HQSLR8]LCW%K9K$"0LC8[#4N9(Z-TD5 M`7%K2T.YM?.*3-3?9=F.96T\C&63V%K6U,=T2QKI'-)%&O8'"-Y_"US@[#B* MX9CO`V75^GW#ZD1.#)6W;-8[VL9\RR-/.VI!&GR+27,#IEQ^V`DDM6(U;D[M M./$)^7'VQZ<\1"MW`F3EED6-4I+WJ[[.,L9M/G4#KR-V03Y*]$K@\!I:Z4R.F<\@DB,&1] M0:%U!05+5D"XX0E;#OKJL)%C2:S+'FO6KNPLI;,MC1LJ9GDFQN:96R-CTHF\ ME/5H[H9`OC[?(%/8IDRBWU,O,,+)`0`\1=E9FUO-L=F..XBBO;W,+9AAJXN; M;0,<6B-E#5H<8Q4D:(0"22*W1V6SQ[2V1;%)):VEG.X2:*.GF<`2]VBAPAYT M`Z9=`I6F%`-2-AU>NV>L8Q6`2]+CER1:OKHQ#I45]/EZ$XSF.=TF5-[-)(C- MSTL=<+0MM\+':)6L=-SE MY:M>:&6-K?P.H,>(LJX:5?#;S`^>LXH=ZYKB_'#JG8LN:J82T@PW"W-G)97R M1&N&2IT9D;."N+2,+8**1[%\H)*`4-&)1:=FVN-TKH`7X26^>QI)(=AK\]RW,\Q;F5Q9Q.$ M<]E#:1,(H75D?SDQ:ZF%L;93AJ`[S'$"A;7F6Y>M4J:A8?:-7<.GM#QB/',D M8("8PMZ!PQ-E]JR:_8^@>8]8L_P=*R`1-$#R=CQA1.:J:'+VY>TJVDL]*::8 M4P)910+!M;W6M6LG.<]Q>XU<34G[RL[:T- M:&M%&@4517E2E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB41*(E$2B)1$HB M41*(E$2B)1$HB41*(E$2B)1$HB41*(M5W.]X2_KTU_\`$RONVME>#V\[L6^Y M(UJR=X\DZ0SB=J3G>\)?UZ:_^)E?=M/![>=V+?\)?UZ:_P#B97W;3P>WG=BWW)&M M.\>2=(9Q.U)SO>$OZ]-?_$RONVG@]O.[%ON2-:=X\DZ0SB=J3G>\)?UZ:_\` MB97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_$RONVG@]O.[%ON2-:=X\DZ M0SB=J3G>\)?UZ:_^)E?=M/![>=V+?\)?UZ:_^)E?=M/![>=V+?\)?UZ:_P#B97W;3P>W MG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_$RONVG@]O.[%ON2-:=X\DZ0SB=J3G>\ M)?UZ:_\`B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_$RONVG@]O.[%ON M2-:=X\DZ0SB=J3G>\)?UZ:_^)E?=M/![>=V+?\)?UZ:_^)E?=M/![>=V+?\)?UZ:_P#B M97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_$RONVG@]O.[%ON2-:=X\DZ0 MSB=J3G>\)?UZ:_\`B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_$RONVG M@]O.[%ON2-:=X\DZ0SB=J3G>\)?UZ:_^)E?=M/![>=V+?\)?UZ:_^)E?=M/![>=V M+?X-.FA-:*AS',MG#V\[L6^Y(UJN[QY)TAG$[4G.]X2_KTU_\` M$RONVG@]O.[%ON2-:=X\DZ0SB=J7X+C><)@016MOM@$%[VO:PPR53<0;WMT6 M$&PVL0;W#]MNFU[?]5/![>=V)>\D?_,G>/).D,XG:EP3&_%ZX/N,8N1&6;?[ M"CH,2YR>GR1R"7F+I-+9*]K#7!]D\E<$[&B(6/#LN.$,?9$D)B"[`(3E$IBB M22ZR^W5[U,PN#<2Y)=MT!K6M8`QC6BC6-!<:-:/M))-2XEQ)--:9QD%G"(8[ MD.TDESJESG$U+G$-%23]@`'````!SSG>\)?UZ:_^)E?=M4?@]O.[%ON2-:J> M\>2=(9Q.U)SO>$OZ]-?_`!,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO\` MXF5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/). MD,XG:DYWO"7]>FO_`(F5]VT\'MYW8M]R1K3O'DG2&<3M2M?D;BZ<*&<9+F*9E:.:`=#AI!#V.!!H#P5!`H>$&V,(XAO!4A;@B>S>(ECN92`W("[+, MW?YMD(#PYY2R:)F:X[&)=/;IXJWI%'Z;L+.G2QEI;BFUA9`$DC3H0G)DQA-P MN]@=[ETPQ#(KB*#F1#&V./"(8L1<]D=7D_U7.)E>XNDDJ0Y]'.!H[:XV:MWB M0W3I)3*97N>23))0-:Y_F@?TV@"-K0UC*"C:@$9/<[WA+^O37_Q,K[MK'_![ M>=V+?.\>2=(9Q.U)SO>$OZ]-?\`Q,K[MIX/;SNQ;[DC6G>/).D,XG:D MYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_`!,K[MIX/;SN MQ;[DC6G>/).D,XG:DYWO"7]>FO\`XF5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA M+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_`(F5]VT\'MYW8M]R M1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO M_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?\`Q,K[MIX/;SNQ;[DC6G>/ M).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_`!,K M[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO\`XF5]VT\'MYW8M]R1K3O'DG2& M<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_`(F5]VT\ M'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DY MWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?\`Q,K[MIX/;SNQ M;[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ M]-?_`!,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO\`XF5]VT\'MYW8M]R1 MK3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_ M`(F5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/) M.D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ]-?\`Q,K[ MMIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q. MU)SO>$OZ]-?_`!,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO\`XF5]VT\' MMYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYW MO"7]>FO_`(F5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ; M[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U)SO>$OZ] M-?\`Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M. M\>2=(9Q.U)SO>$OZ]-?_`!,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO\` MXF5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[DC6G>/). MD,XG:DYWO"7]>FO_`(F5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[M MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG=BWW)&M.\>2=(9Q.U M)SO>$OZ]-?\`Q,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO"7]>FO_B97W;3P>WG M=BWW)&M.\>2=(9Q.U)SO>$OZ]-?_`!,K[MIX/;SNQ;[DC6G>/).D,XG:DYWO M"7]>FO\`XF5]VT\'MYW8M]R1K3O'DG2&<3M2<[WA+^O37_Q,K[MIX/;SNQ;[ MDC6G>/).D,XG:EYXXO*!T^SE`?=YYW1_[WMKO/\`5?U5_;BTC[L^'=?4N_E" M_:$^'/)^=3^J_JK^W4]V?#NOJ"_E#]W*'^'/%^=/U5]5?VZH]V?#NOJ"_E%] MW**^'/!^=3^J?JG^WD]V_#NOJ"_E&_:-^'.^^=/U3]4_V\GNWX?U]07\I'[2 M'PYW7SJ?U3]4_P!O*/=OP_KZEW\I7NY2GPYVWXJG]4?5/]OJ/=GP_KZ@OY2_ MVE_ASLOG3]4?5']OI[M^']?4%_*;[N4U\.==\ZG]4?5']OI[M]@Z^H+^4[H_ M])WX[O8.O*"_E6_:N^'.7^=3^IOJ7Y"GN[V#KR@O MY6/=RL?ASD_G0=Y?J7Y"GN[V#KJ@OY6O=RM/ASC_`)UZ_4OU+\A4>[O8.NJ" M_E;]W*W^'.+_`!4_4OU)\B3W?[#UU07\KO[77PYP_P`ZG]2?4GR)1[O]AZZH M+^5_W[_8>NJ7 M?RQ?MB?#F]_.O7ZC^H_D:>[Z_P#H>NJ"_ECZ?_3'^'-XZ/\`6GZC^H_D:\^[ M_8NNJ7?RR^[EE_#FY_.O7ZB^HOD:>[_8NNJ"_EG_`&SOAS;OG4CO%]0_)$]W M^Q==4-_+1^VC\.;7\Z?J+ZB^2)[O]BZZI=_+5[N6I\.;/\ZG]0_4/R11ZA[% MUQ07\MG[:_PYLGSH.\/U#\D3U#V/KBEB\MO[;?W>;!\ZD=X?J#Y*H'H/L?7% M!?RW>[EO?#FN_.I_4/U!\E4^H^Q=<4N_EP_;B^'-8^=3^H/C_P`E3U'V+KBA MOYI M>Q];4N_EY_;Q^'-$^=/?WQ[Y.GJ7L?6U!?R]?MZ?#F@_.GOWX]\G3U+V3K2@ MOY?/=R]_AS/?G4C\]^._*$/H7LG6U+OY??=R^_AS.?Q>VI]^_'?E"CU*G_I. MM*"_E_\`=R_OAS-OG4C\\^._*%'J7LO6E!?]`?\``'XI>R] M:4%_T"_P$^',M^?LJ??GQSY2H]2]EZTH+_H)[O(/\.93\Z>_/CGRE/4_9>M* M7?\`0;_`OXCR*?#F-?Z=-3[Z^-?*D]3]EZ MRI=_T,_P8^',6^?MJ??7QKY4GJGLO65!?]#O\&_AS$OG3WS\9^5IZI[+UE07 M_0_W>1_XJ>S=94%_T2 M_P`)?AS!OG4^^/C'RQ#Z)[-UE0W_`$4_PG^',"^=/?'QCY8GJOLW6%#_`/1; MV]'DL^[Y_OQ4]\?%_EB@^B^S=84%_P!%_=Y,/AY^OG4^]_BWRQ>?5?9NL*"_ MZ,_X:?#S[?.I][_%OEJCU3V;K"@O^C?^&_P\^7SI[W^+?+4]5]FZPI=_T<_P MZ^'GN^=3[V^*_+4]5]FZPH+_`*/?X>_#SU?.GO;XK\M4>J^S]84-_P!'_P#$ M#X>>?YU/O;XK\N3U7V?K"EW_`$A]WE#^'GB_%3WK\4^7)ZK[/UA3`_H_[.GR M@?>\\_\`KU*>]OBORY/5?9^L*H!^C?O\G'W_`#Y?@KS[V^*_+5/JOLW6%4!_ M1?H]ODO_`/F>?S_7J5Y][_%_EB]#T7V;K"GA_1+W^23[W,&_!0_G'QCY6O7J MGLW6%/!^AWO\COW^8A^"O'OGXS\K4^J>R]954#]"O?Y$_O\`,;_!4'\Z^-?* MD]3]EZRJ@/Z#>_R%_>YDOX/;7@_G?QOY2I]3]EZTJ@/Z`^_R!_>YE_X*CWY\ M<^4J?4O9>M*I#Y???R^OO3^>_'?E"D>A>R=;52'R\^_EX_>YHGX*\^ M_OCWR=3ZE['UM5`?+K[^73][FG?@J/?_`,>^3*?4?8^MJH#Y?U!]0?)5/J/L?6U4@\MGOY;'W^;'^"O)[P_4/R1/4/8^N*H#Y:/?RT/O?U%]0_)%/N_V+KJJ0>63W\L?[_-W_``5Y/>/ZC^1J?=_L7754!\L'LZ>5 M_P#>YP/^O4KP>\GU)\B4^[_8>NJH#Y6_?RM_OYR_X*\_J;ZE^0J?=WL'754!\J7OY4WWN=#^"O)[S_4WR!/=WL'7E M4@\IWOY3OV_]OG5_A]U>3WG^I_[?4^[?8.O*H#Y2O?RE?O<[3\%>?U1]4?V^ MGNWX?U]5(?*-[^49][G?_@KS^J?JG^WEZ]V_#NOJ?_X0NK?_`)0O3_\`O'ZW 2PZ/Z:C]5_57]NJ?=GP[KZ__9 ` end GRAPHIC 12 logo1.jpg GRAPHIC begin 644 logo1.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$" M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#_\``$0@`)@"P`P$1``(1`0,1`?_$`)8```,``P`#```````` M```````("08'"@0%"P$!``,!`0`#``````````````8'"`4$`0,)$```!P$` M`00"`00!!0`````!`@,$!08'"``1$A0)$Q4*(3$C%B1!430F%Q$``@$$`0," M!`0#!P4``````0(#`!$$!1(A!@@6GS)4[))Y*J M,JO0:3#)BH6/A(AN9)HR:-R%*!2^\WJ4DLKGXGJS,3]/D*PYLLW;]U;QI)><^?/+Q11<^ILJ(!\!<*H`^0ZFG3 MN'&?-G$%1K,MW%9K9I>]W*,1F:YRCB4_&P?Z..:;I:S2558MU7)!2` ML5K*I!D$9(4V=E=B]K=AX<4W?4LN5W!,G),'&95XJ?0SS6?B+]/L%[@\2 MP!8:Z>$H\LS_`#D^IFZQ53,C\LDO7;[T\E:DXH$Q4^>E89=A-5]P8J`"<5E( MA1L/]_8`>=Z([G%EX-Y/PY=G?B4EQM08>=_PF)&CE'7IQ$X?X7O7.==;*O3M M'(7%M<,LN;RM;U]QB\9Z=;F(CZ5LK%OKKQ_N!%*7XYW)S4I2&EHMGK&)]"M$ M5[_F\3(//BKV>N62F,F\9HU?2-ZD0]S&,5,L`).#H*&*`Q_N[SUW5X=,=+WTJS]F9S0RHZ MB?&RQ^;$I:QD1XU"S(.@7[(S>P;B2+]#G\73>-C7G.QN.KO>9.\YMS\^K4EF MA9A=PX-4W#JUWFI6>+KORU7+F.J\XK7VSU*/%4R+)P"ID@**ZHFXGG;`U67K MM-WEAP#'SME#RE`M]P:*.5.1``9TYE2]@6%K^@M*_$V9L(I]AV_DRF7%PY.* M$WZ69E:UR;*W0\?0$7]6)/7MYG&KIH\4H\4H\4H\4H\4H\4H\4H\4H\4H\4H M\4H\4H\4H\4H\4H\4KYQ'TA8E5W%_P"ANK[JR1=,\31?UVH+."$.2*EY5A,V M"Z6%M^0!!.2C*?'E:HJ!_5,LBJ(>@^@A=7[RN\-E'J=)XRU#E9=Q()9P.G-$ M=(L>(V]4>=N;#XF)?A5(>!=#BG,V'=^\\X`EWO<&C&P=N=X6F:G,@G+"R:3*'.6-F;$>1LI28J11/56Y10LUGTIA'*<39C7!I?W=AG!<3<>TG6;I2UQLR];790P)<,QY`$'[?VV.ZV':^JFRAX\VVBRWQ\1Y9'Q=;MXY< M=H)8$8LL*2`MQ06"J,B-`$;B+BT7D],?`Q-SF)".Y\+8PB6940396$TI)B9B60L;"?Q9IR-L_6_P!C-FACKJP]CAZ=/Q*KE`6SE2+F=0TN M2CU'#83&%NN=HY()TQ$1(81#U'T\]'G+"R-;V5VWKLL*,O'A$3@&X#QX\*-8 M_$<@;'XCK75\3Y,69OMOEP$F"20LM^AL7)%Q\.E=:74VUZ7@N;Q=TRGFS2.I M[,_O]+J+G.,OF:E!6"+K]EE/A3=\>/;E)Q<8:$J30/RKID,950YTP-^)#\SE M#,%7K3)>*4JG:'9N$\$8#:>C>A9^0B*17749"QD17HP\_=;Y=+`N9I5L^H%: M1517L5RL[T@IM6P'22(0BBZZJ+9%99-2EN:]9]ZQ69#O%\^NMI&YVE`!<97( MJ5TM&7+K^OU%-F,H\.YRB0RBI9/-WUA$E%1>LQ]^6=BX*9JV<.W7L244IT.; M-UK'3_/N*]&TF-FX>G;IF%)U>K15D1:MK#'5^]U]C9(AG.-F+I\S;2S=C($* MX2365*FJ!B@8WIZ^*5NSQ2O46"1>0\#-R\?#/K&_BHB2D6->BU&B4E.O&+)9 MRVAHY60<-&";Z462*@B9=5)$%#@)SE+ZB"E*)4^U*A#8CS7I_6-6E.,;YTS? M:ICM2Q+79:,F+@SVN\OYUI3LO-*4\)2'>SMH:P"KMF(BW]&YR@X(W7!1$BE. MEXI4S>I^X=.YR[D^O_F)ME=$LN7]O6W3J.?1E[[8&-]H]BR[.IW0IP@`DW;)K/)&2D'BR35DS;IJNGKQ=)!!,ZJA"&4J?V3=K]O[ME, M5TGF_P!>\>RPRV0Z5RSJEZ5TM&4CJ_0\X?HEDJ_;&63(Y1/Y749NUP2B;R-@ M9N_,W!BJI$>.6)SF*FI3J?6C:WIE?1JM^@G- M8MD]2YJ)ME;0D98D)-,)VN.4E6PN%#I"7VG]I_<4JE,/XI1XI1XI1XI7S_OJ M6:*3W`O<=<@P]]B>W#:62*20#\@[J8Q-FUA2A[/4XBLNDH1/_N8!]/)K^Z:5 M<+SIVAGYG3`3'P6)/IQ38LTG]P()^EJJ_P`.1MD>.-[C0?\`O MJ7V"'_0?+/\`VK12X7>WD/7Y_3:)O@7!_%;WLW[OF02;@_4?.H?YF=)^WNUL MF`?]$=;T(]!]F/-^G9Z%/=:E@6K3.>ND59:&MB=:5 M7BUJZL07D<_=RB!S1Z*BD8HFHH`G+[1-_8/Z>6_)Y8\=866-/M-YK(MZI"20 M&8!Q*/M950_<;."!TZVJ`CL;NG(@.?A8&4^M8M#UX>L+;EH/W4/N/"=;=*4+`[Y]:%EZ M91J>:V#.JJ\I&LP_2E.RB/E:=8__`)B_L"42G6E5E#LI%S(HK/'!S*>]'T0\ M4KF]ZZZ2Z;V?FC(M*Z:M\IT#DWU(?R($L:US>4JG$QA]"P++)2$1JNN:3$TN M.9U)29K:TBZAI)VQ;)-5%IAF0Q3+*JJJ*5]`0UOJ9:D:^FLU?"C%KHV\;E^X MCQJP5,(W]R-F_?@X&*&O_I_^5\S\OQ_C?Y/?[/Z^*5"CIGJN@Z?&XV]Q;I#6 M*WF&H_7]J6^XORCRA1K3`]`VM.1_UI?-NE+#?J$[2:Y9AN>0956#1E(N8F(E M)J8(159VHW19@I24+=7]?W+D/^.CI9^IM>K-K[5V;`,7Z7S2L_7.W[0QW6;0GGDWN7,&C/+%;*2?*9&Z)4882WL[(6!3L<,6QQ;U\@R M(9,163$5E%*G+UY+Z[UC]:?\;[6].WW7V.H[1W;]?Z=TNE/=4J#F5[IH4!>7 MSC6XL5*2]3C=)KAD%/TZR0!%-P=*BLP<#^,4U*??[3-EL?-^>]"Y]7>R^FK7 M=,#^LVYZ;G.5XPUL7_W:MZ=7E;VK']A=3;Q3(^$JK6@&6KL9'-(25(P92)FL MNLFPD3&*1NI6K=0T&Z:WMO\`$]U32)A2PZ%I41H%^O-@5:-6*D];K?P97;!8 MIH[)B@U8M32LM(+.!31231)^3T(4I?0`4IB?Y067Z;J'U`;8GFE=EKB3/[[C MNK:-4(5)=T]L&5T.]1TI<2G9MBG6G)VT6N_I170O7.E;'KDM78^2TC5*+$TB5#+,:83:C*/ MBZZC#I"^;-DWIW**)$04I"T^]>QW^*9PP7WK0WMAY@_D.Y]]9Z>X0CF':,NL M.:Y/5H6,D2:E'(U].OV>WL*^L2$?R4W^@*5)BJ]A]X4KZ..-_MUB^QMIT+IE_I-0KM^PRYL\WL.0=,PMLZR MLN'AF[3/F&?1TK7+B:KB@NRD:\\:2(_"6,H"IA*HBI4?OI]['JG.V^:!DNGR MK&!SG=)1JDSLDLN1O#5K18%[(MX`\TX6,5LS@[/'R:S!PX4$$T5P;&4$J7Y# M%TK^['Q/L^_.SL3NCMR)Y]_IE M$^]L3MS>SZ;:NL>MSB+.QLJ2H6X)C7>#^I$(%[9*WGJDXZE)&3QS1FL:DL_&NP+RP.F1U6ON708J(+&) M^$$#DK?QCM]UW%FP>;_&T<>P[S3#3![CTYE6*7*$814SL5G(7W9%B20*]E:0 M.@//F#,.[M?KM;BR>/NZ6;&T)G:?5YH5G2+F6)@E"@MP4N5)6Y7[7(X<+2+O M.![;&5>O9"VFN>+U1*S:;%=*Q>Z'MF-/(V0>7)E!1LQ(KV&4N\/,M(UVQK;# MU:R+)HHU^,`^PHBH)M2Z;O?L_(V4_=4D.^PMUD8T6/-C9.OSU=5@:1T01)CO M&SAI9/OBD1D5@I$:=)` MMN-^(ZWK!P_0:'>,@K/UYU^UQ6W6&V;]3.D>AK?FJ+F0R#'L[I,M3Y%Q1I&[ MR"#9C?[7='=21BT`BDE(_P#,_.8JZI&YC'S'YCW>[T_=61YVSL:33X.+H\C5 M:N#+(7.SLK(2=1D)CJ2V-#CK.TS>\1+QC`**9`!MP/,:5,^>?81 MY>7)$"58* M-6C1!)LT:MAVC5_CMFK9$I$6[=!'VE(0@`4A0````#R:^5T>/QAV?'(S/(NO MA!9B2S'])![=\R`*ARI"`!8`&5C8`=`!?H!74=U/Q M/S#VO!4VL]09:WU:OY_8QN%/B']IO%>8PMK!%-!O8TD*;9JZ5U-1R2?HS=RWK-ASW%_5W8.4S;-0:_U+GU59 M:Y)=$5R]1]0'?\__`->=+-7.:)N%UY=295B?D%%)9U\\I2E4JT6:\J9*A6(Y_3)R(L!%B6-&T14`)S0"T*!D*N`UMW4+ M[IN8PY,5/(N)=++I:K9E? M:?$:-Y$C]3U4.T1$B2OM4JRF>\%NV/ZHN#]^O,AH^N8Q*7"WS6&1_.%CDG6N[6R0M^01"$T3:]OI?.MFFI1V+Z75DL`K.B1F1DC)MWZ'D(Q"'1BY$ M0$'398#J`=2MO[!Q%RIN^;4''-,Q>LR649;98*X9YG-=TRHV:K*_GK$S M#5[.Y>JQC=W7%Q,=A_C$K,YS&2`@G,(J5Y&E<<<_ZKHF<;%9:I,,-GR2ISE# MH.R5"\WBEZK#T>RM#LYZH/;Y6+#&6*RUR3_(9P9I*KODDWYA>I`F\_S^*5@L MS]H^?=DK?37)KK3OUV?]$M=TK]AQM> MNM4_=5MP]77CBS->O]8J<[%SS)JH"+Y/XRC7Y"9Q0652$IQ_3O19.PR]5!/L ML9L38&-><9:-^+6Z\6C=U*D]5-[VM<`]*PAMH,/&V4D6MG&1C!SP<*ZDB_3H MZJW+TOTM>X!(L37K+-)[WS[DZ(4ZCYTSG?\`BES&QYJ^PZ=ON<9[:&$7^$2U MXE'G+59`[E[?\);WR=*OC??Y^C\O+(WNM MJ,;*RH6>_P";^HCAQY,4B_\`7M+&G*_O`O>KVU&T\B:[M)#W9K,;8=E%1P&9 M-!"X'\'M,\JS`VO[=D=K6]NRTD\KLWUD.'BLDUXHW5D],I^4:\TZD.%6(OZB M)FR+Y6A2,\,?[OZ`(+B<2_V,']_+>QNTOW$1Q#'D[OTSPVM[K:?\ZWS*C)2+ ME_+:_P`*A\NY\:-^:FDS%;_0,\&=)WS`_GKN'8;OO)A^0-GBY.+K57D/Z")CK@^V&MRY3O'>W,$U,,+;=_Y M_;LB^-]5C8&C']3]+-%+E$V_Y&:5LDMQ_#:-&M^'I5??XG]0HD;,=@V][J[2 MP[A8&.>QUGR=.OZ$VG:+5XN*4>*4>*4>*4>*4>* :4>*4>*4>*4>*4>*4>*4>*4>*4>*4>*5__]D_ ` end