Form 10-Q EndoChoice Holdings, For: May 04

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 8/15/2026

1. AMAT
2. GLOB
3. SPY
4. RDDT
5. HTFL
6. SNDK
7. WDAY
8. ADYEN:NA
9. DVLT
10. ADYYF

May 4, 2016 7:24 AM EDT
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

FORM 10-Q
 
(Mark One)
x
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2016
Or
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number 001-37414
 
EndoChoice Holdings, Inc.
(Exact name of Registrant as specified in its Charter)
 
Delaware
 
90-0886803
(State or Other Jurisdiction of
Incorporation or Organization)
 
(I.R.S. Employer
Identification No.)
11405 Old Roswell Road
Alpharetta, Georgia 30009
(Address of principal executive offices) (Zip Code)
(888) 682-3636
(Registrant’s telephone number, including area code)
 
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    YES  x    NO  ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    YES  x    NO  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
¨
 
Accelerated filer
¨
Non-accelerated filer
x
(Do not check if a smaller reporting company)
Smaller Reporting company
¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    YES  ¨    NO  x
The Registrant had 26,011,050 shares of Common Stock, $0.001 par value per share, outstanding as of April 29, 2016.
 


EndoChoice Holdings, Inc.
Table of Contents
 
 
 
Page
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

i

Part I. Financial Information
Item 1. Financial Statements
EndoChoice Holdings, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
in thousands (except share and per share data)
 
March 31,
2016
 
December 31,
2015
Assets:
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
 
$
26,985

 
$
34,033

Short-term marketable securities
 
37,533

 
33,872

Receivables, net
 
8,902

 
9,880

Inventories
 
17,096

 
17,473

Prepaid expenses and other current assets
 
2,908

 
3,108

Total current assets
 
93,424

 
98,366

Long-term marketable securities
 
6,099

 
19,748

Property and equipment, net
 
12,463

 
11,523

Intangible assets, net
 
13,522

 
13,819

Goodwill
 
20,690

 
20,105

Deposits and other long-term assets
 
780

 
777

Total assets
 
$
146,978

 
$
164,338

Liabilities and Stockholders' Equity:
 
 
 
 
Current liabilities:
 
 
 
 
Accounts payable
 
$
6,141

 
$
8,434

Accrued expenses and other current liabilities
 
8,309

 
9,203

Current portion of deferred rent
 
118

 
85

Deferred revenue
 
696

 
812

Total current liabilities
 
15,264

 
18,534

Long-term debt, net of discount
 
42,670

 
42,643

Deferred rent, less current portion
 
759

 
761

Deferred income taxes
 
2,526

 
2,493

Other long-term liabilities
 
719

 
614

Total liabilities
 
61,938

 
65,045

Commitments and contingencies (Note 11)
 

 

Stockholders’ equity:
 
 
 
 
Preferred stock, $0.001 par value per share; 50,000,000 shares authorized; no shares issued and outstanding at March 31, 2016 and December 31, 2015
 
—

 
—

Common stock, $0.001 par value; 150,000,000 shares authorized; 24,982,091 shares issued and outstanding at March 31, 2016; 24,886,516 shares issued and outstanding at December 31, 2015
 
26

 
26

Additional paid-in capital
 
258,696

 
257,384

Accumulated deficit
 
(173,611
)
 
(156,549
)
Accumulated other comprehensive loss
 
(71
)
 
(1,568
)
Total stockholders’ equity
 
85,040

 
99,293

Total liabilities and stockholders’ equity
 
$
146,978

 
$
164,338

See accompanying notes to condensed consolidated financial statements.

2

EndoChoice Holdings, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Loss
(Unaudited)
 
 
 
Three Months Ended
March 31,
in thousands (except share and per share data)
 
 
2016
 
2015
Revenues:
 
 
 
 
 
GI equipment and supplies
 
 
$
14,414

 
$
13,795

GI pathology services
 
 
4,048

 
2,953

Net revenues
 
 
18,462

 
16,748

Cost of revenues:
 
 
 
 
 
GI equipment and supplies
 
 
12,397

 
10,026

GI pathology services
 
 
1,536

 
1,143

Cost of revenues
 
 
13,933

 
11,169

Gross profit
 
 
4,529

 
5,579

Operating expenses:
 
 
 
 
 
Research and development
 
 
4,023

 
4,683

Sales and marketing
 
 
9,609

 
8,243

General and administrative
 
 
6,324

 
4,417

Amortization of intangible assets
 
 
682

 
687

Operating expenses
 
 
20,638

 
18,030

Operating loss
 
 
(16,109
)
 
(12,451
)
Other income (expense):
 
 
 
 
 
Other income (expense)
 
 
164

 
(1,033
)
Interest expense
 
 
(1,147
)
 
(1,591
)
Total other expense
 
 
(983
)
 
(2,624
)
Net loss before income taxes
 
 
(17,092
)
 
(15,075
)
Income tax benefit (expense)
 
 
30

 
(199
)
Net loss
 
 
(17,062
)
 
(15,274
)
Other comprehensive income (loss):
 
 
 
 
 
Foreign currency translation adjustments
 
 
1,382

 
(740
)
Change in fair value of available-for-sale securities
 
115

 
—

Other comprehensive income (loss)
 
 
1,497

 
(740
)
Comprehensive loss
 
 
$
(15,565
)
 
$
(16,014
)
Net loss per share attributable to common stockholders, basic and diluted
 
$
(0.68
)
 
$
(1.00
)
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic and diluted
24,957,002

 
15,318,390

See accompanying notes to condensed consolidated financial statements.

3

EndoChoice Holdings, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
 
Three Months Ended
March 31,
in thousands
2016
 
2015
Cash flows from operating activities:
 
 
 
Net loss
$
(17,062
)
 
$
(15,274
)
Adjustments to reconcile net loss to net cash used in operations:
 
 
 
Depreciation and amortization
2,333

 
2,102

Loss on disposal of property and equipment
5

 
—

Non-cash interest expense and discount amortization
93

 
181

Amortization of premium on marketable securities, net
177

 
—

Change in fair value of warrant liability
—

 
28

Provision for doubtful accounts
335

 
277

Unrealized foreign currency (gain) loss
(198
)
 
972

Deferred income taxes
(41
)
 
106

Stock-based compensation
1,337

 
5

Loss on impairment of property and equipment
423

 
912

Changes in certain working capital components and other assets and liabilities:
 
 
 
Accounts receivable
727

 
(1,393
)
Inventories
795

 
710

Prepaid expenses and other current assets
240

 
(161
)
Other assets
9

 
51

Accounts payable, accrued expenses, and other liabilities
(3,518
)
 
1,063

Net cash used in operations
(14,345
)
 
(10,421
)
Cash flows from investing activities:
 
 
 
Capital expenditures
(2,840
)
 
(1,292
)
Proceeds from maturities of marketable securities
9,925

 
—

Net cash provided by (used in) investing activities
7,085

 
(1,292
)
Cash flows from financing activities:
 
 
 
Proceeds from issuance of member units, net
—

 
31,000

Proceeds from option exercises
26

 
—

Net cash provided by financing activities
26

 
31,000

Effect of exchange rate changes on cash and cash equivalents
186

 
(67
)
Net (decrease) increase in cash and cash equivalents
(7,048
)
 
19,220

Cash and cash equivalents, beginning of period
34,033

 
13,761

Cash and cash equivalents, end of period
$
26,985

 
$
32,981

Supplemental disclosure of cash flow information:
 
 
 
Cash paid during the period for:
 
 
 
Interest
$
1,053

 
$
1,175

Income taxes
$
35

 
$
26

See accompanying notes to condensed consolidated financial statements.

4


EndoChoice Holdings, Inc.
Notes to Condensed Consolidated Financial Statements
(Dollars in thousands, except share and per share data)
(Unaudited)
(1)
Background and Basis of Presentation
Description of Business
EndoChoice Holdings, Inc. and its subsidiaries ("EndoChoice", or the "Company") is a medical device company headquartered in Alpharetta, Georgia focused exclusively on designing and commercializing a platform of innovative products for gastrointestinal, or GI, caregivers. The Company offers a comprehensive range of products and services that span single use devices and infection control, pathology, and imaging technologies. Since the Company began commercial operations in 2008, it has developed an extensive line of devices and infection control products and acquired pathology and scope repair services providers.
The condensed consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying condensed consolidated financial statements, the Company has incurred losses and cash flow deficits from operations for the three months ended March 31, 2016 and 2015. The Company has financed operations to date primarily through private placements of equity securities, borrowings under debt agreements, and the issuance of common stock in the initial public offering completed in June 2015. The Company’s ability to meet its obligations in the ordinary course of business is dependent upon its ability to generate sufficient cash flow to meet its obligations and ultimately to attain profitable operations. Failure to increase sales of its products, manage discretionary expenditures, or raise additional financing, if required, may adversely impact the Company’s ability to achieve its intended business objectives.
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements are presented in accordance with United States generally accepted accounting principles pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated financial statements include the accounts of EndoChoice Holdings, Inc. (formerly ECPM Holdings, LLC prior to the corporate conversion discussed below; EndoChoice Innovation Center, Ltd.; EndoChoice GmbH; and Robert S. Smith, M.D., Inc. d/b/a EndoChoice Pathology ("EC Pathology")). The Company also owns a 67% interest in EndoChoice Israel, Ltd., which had no material transactions during the three months ended March 31, 2016 or 2015. All significant intercompany transactions and balances were eliminated in consolidation.
The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2016 and the results of its operations and its cash flows for the three months ended March 31, 2016 and 2015. The condensed consolidated financial statements, including these condensed notes, exclude some of the disclosures required in annual consolidated financial statements.
The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2015 filed with the SEC on March 21, 2016.
The results for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the year ending December 31, 2016, any other interim periods, or any future year or period.
Corporate Conversion
On June 4, 2015, ECPM Holdings, LLC converted into a Delaware corporation pursuant to a statutory conversion and changed its name to EndoChoice Holdings, Inc. As a result of the corporate conversion, the holders of the different classes and series of units of ECPM Holdings, LLC became holders, in aggregate, of 17,580,918 shares of common stock and 579,869 shares of restricted stock in EndoChoice Holdings, Inc. In addition, holders of options and warrants to purchase units of ECPM Holdings, LLC received an aggregate of 339,373 options and 187,161 warrants to purchase shares of EndoChoice Holdings, Inc. common stock.

5

The accompanying condensed consolidated financial statements and related notes thereto have been retroactively adjusted to account for the effect of the corporate conversion for all periods presented prior to June 4, 2015.
Initial Public Offering
On June 10, 2015, the Company completed an initial public offering (the "IPO", or the "offering") of 7,302,500 shares of common stock, including 952,500 shares sold to underwriters for the exercise of their option to purchase additional shares, at an offering price of $15.00 per share. Of the 7,302,500 common shares sold in the offering, 7,052,500 shares were sold by the Company and 250,000 shares were sold by existing stockholders. The Company received net proceeds from the IPO of approximately $94,186 after deducting underwriting discounts and commissions of $7,405 and offering expenses of $4,197.
Net Loss Per Share of Common Stock
Basic and diluted net loss per share of common stock reflect the conversion of all member units of ECPM Holdings, LLC to shares of EndoChoice common stock by treating all units as if they had been converted as of the beginning of the periods presented. Basic and diluted net loss per share amounts do not give effect to potentially dilutive securities where the impact would have been anti-dilutive.
Reclassifications
Certain prior period amounts in the accompanying condensed consolidated financial statements have been reclassified to conform to the current period presentation.
(2)
Summary of Significant Accounting Policies
There have been no significant changes to the accounting policies during the three months ended March 31, 2016 as compared to the significant accounting policies described in Note 2 of the “Notes to consolidated financial statements” in the Company’s December 31, 2015 audited financial statements included in its Annual Report.
(3)
Recent Accounting Pronouncements
In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 supersedes the previous leases standard, ASC 840. The standard is effective on January 1, 2019, with early adoption permitted. The Company is in the process of evaluating the impact of this new guidance.
In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.
In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 changes the measurement principle for inventory for entities using FIFO or average cost from the lower of cost or market to lower of cost and net realizable value. ASU 2015-11 defines net realizable value as estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The standard is effective for reporting periods beginning after December 15, 2016 and interim periods within those fiscal years with early adoption permitted. ASU 2015-11 should be applied prospectively. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.

6

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 will eliminate transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09, as specified in ASU 2015-14, is now effective for reporting periods beginning after December 15, 2017. Earlier adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the future adoption of this standard.
(4)
Fair Value Measurements
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. The Company categorizes its financial assets and liabilities into a three-level hierarchy based on the priority of the inputs to the valuation, pursuant to the Fair Value Measurements and disclosures of ASC Topic 820. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the overall fair value measurement of the instrument.
Level 1 – Quoted prices available in active markets for identical assets or liabilities as of the reporting date; 
Level 2 – Inputs other than quoted prices for identical assets or liabilities in active markets that are either directly or indirectly observable as of the reporting date; and,
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. These inputs reflect management judgment about the assumptions that market participants would use in valuing the asset or liability.
As of March 31, 2016 and December 31, 2015, the Company holds a portfolio of available-for-sale marketable securities recorded at fair value on the condensed consolidated balance sheets (as discussed in Note 5). Other financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets as of March 31, 2016 and December 31, 2015 that require fair value disclosure include cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and long-term debt. The estimated fair values of these financial assets and liabilities as of March 31, 2016 and December 31, 2015 reasonably approximate their respective carrying values as reported within the condensed consolidated balance sheets.
As of March 31, 2016 and December 31, 2015, contingent liabilities for accrued earn-out consideration were categorized as Level 3 within the fair value hierarchy and were recorded at fair value on the acquisition date and are remeasured periodically based on the then assessed fair value. These liabilities are adjusted if deemed necessary and have been recorded in other long-term liabilities within the condensed consolidated balance sheets. The increases or decreases in the fair value of these contingent consideration liabilities can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measures are based on significant inputs that are not observable in the market, they are categorized as Level 3.

7

For the Company’s assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein and gains or losses recognized during the period:
Fair value measurements using significant unobservable inputs (level 3):
Contingent liabilities for accrued earn-out acquisition consideration
Balance as of December 31, 2015
$
393

Foreign currency translation adjustments
11

Payments
(20
)
Balance as of March 31, 2016
$
384

Within the condensed consolidated balance sheets, the current portion of contingent liabilities for accrued earn-out acquisition consideration are included in accrued expenses and other current liabilities, while the non-current portion is included in other long-term liabilities. The determination of current versus non-current is made based on the expected timing of the payments from the balance sheet date. Amounts expected to be paid within twelve months of the balance sheet date are classified as current, and amounts expected to be paid after twelve months from the balance sheet date are classified as non-current. As of March 31, 2016, $384 of contingent liabilities for accrued earn-out acquisition consideration were included in accrued expenses and other current liabilities. As of December 31, 2015, $110 and $283 of contingent liabilities for accrued earn-out acquisition consideration were included in accrued expenses and other current liabilities and other long-term liabilities, respectively.
(5)
Marketable Securities
The table below summarizes the Company’s available-for-sale marketable securities' amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as short-term marketable securities or long-term marketable securities as of March 31, 2016 (refer to Note 4 for discussion of our fair value hierarchy). The Company had total marketable securities of $53,620 as of December 31, 2015.
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Short-term Marketable Securities
 
Long-term Marketable Securities
Level 1:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
4,012

 
$
—

 
$
—

 
$
4,012

 
$
2,005

 
$
2,007

U.S. government agencies
3,619

 
—

 
—

 
3,619

 
3,619

 
—

Subtotal
7,631

 
—

 
—

 
7,631

 
5,624

 
2,007

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Corporate securities
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Subtotal
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Total
$
43,633

 
$
13

 
$
(14
)
 
$
43,632

 
$
37,533

 
$
6,099

 
 
 
 
 
 
 
 
 
 
 
 
The amortized cost and fair value of short-term and long-term marketable securities as of March 31, 2016 are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called, or prepaid.
 
Amortized Cost
 
Fair Value
Due to mature:
 
 
 
Less than one year
$
37,534

 
$
37,533

One to two years
6,099

 
6,099

Total
$
43,633

 
$
43,632

 
 
 
 

8

No realized gains and losses were recognized on the sale of marketable securities for any of the periods presented. As of March 31, 2016, net unrealized losses of $1, net of tax, were included in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheets. There were no transfers between Level 1 and Level 2 fair value measurements during the three months ended March 31, 2016, and there were no changes in the valuation techniques used by the Company.
(6)
Inventories
Inventories consisted of the following:
 
March 31, 2016
 
December 31, 2015
Raw materials
$
6,592

 
$
6,821

Work-in-process
3,936

 
3,113

Finished goods
6,568

 
7,539

Total inventories
$
17,096

 
$
17,473

(7)
Property and Equipment
Property and equipment consisted of the following:
 
March 31, 2016
 
December 31, 2015
Furniture and fixtures
$
1,480

 
$
1,229

Leasehold improvements
2,540

 
2,244

Computers and software
3,765

 
3,245

Demonstration equipment
9,075

 
8,414

Machinery and equipment
7,190

 
6,428

Construction in progress
1,168

 
1,015

Total
25,218

 
22,575

Accumulated depreciation
(12,755
)
 
(11,052
)
Property and equipment, net
$
12,463

 
$
11,523

Depreciation expense was $1,651 and $1,415 for the three months ended March 31, 2016 and 2015, respectively. During the three months ended March 31, 2016, we recognized an impairment of $282 on demonstration equipment as the Company plans to replace this equipment with newer versions of Fuse®. During the three months ended March 31, 2015, we recognized an impairment of $912 on demonstration equipment due to the replacement of certain of this equipment with newer versions of Fuse®. The loss is recorded in sales and marketing expense in the condensed consolidated statements of operations and comprehensive loss.

9

(8)
Goodwill and Other Intangible Assets
The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for amortizable intangible assets as of March 31, 2016 and December 31, 2015 are as follows:
 
March 31, 2016
 
December 31, 2015
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
$
1,742

 
$
(793
)
 
$
949

 
$
1,683

 
$
(732
)
 
$
951

Developed technology
21,082

 
(8,565
)
 
12,517

 
20,498

 
(7,687
)
 
12,811

Other intangible assets
2,262

 
(2,206
)
 
56

 
2,198

 
(2,141
)
 
57

Total amortizable intangible assets
$
25,086

 
$
(11,564
)
 
$
13,522

 
$
24,379

 
$
(10,560
)
 
$
13,819

 
 
 
 
 
 
 
 
 
 
 
 
Unamortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
20,690

 
$
—

 
$
20,690

 
$
20,105

 
$
—

 
$
20,105

The Company recorded amortization expense related to the amortizable intangible assets of $682 and $687 for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, estimated aggregate future amortization expense for the intangible assets is as follows:
Estimated amortization expenses:
 
2016 (remaining)
$
2,111

2017
2,815

2018
2,815

2019
2,815

2020
2,800

2021
166

Total
$
13,522

 
 
Changes in the carrying amount of amortizable intangible assets and goodwill for the three months ended March 31, 2016 are as follows:
Amortizable intangible assets:
 
Balance at December 31, 2015
$
13,819

Amortization
(682
)
Foreign currency translation adjustment
385

Balance at March 31, 2016
$
13,522

 
 
Goodwill:
 
Balance at December 31, 2015
20,105

Foreign currency translation adjustment
585

Balance at March 31, 2016
$
20,690

 
 

10

(9)
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
 
March 31, 2016
 
December 31, 2015
Payroll and employee related expenses
$
4,412

 
$
4,787

Accrued warranty costs
624

 
922

Sales and other taxes payable
184

 
320

Other accrued liabilities
3,089

 
3,174

Accrued expenses and other current liabilities
$
8,309

 
$
9,203

(10)
Debt
The Company had $42,670 and $42,643 in total debt outstanding, net of discount, as of March 31, 2016 and December 31, 2015, respectively, which is fully included in long-term debt on the accompanying condensed consolidated balance sheets. Effective June 30, 2015, the Company refinanced its outstanding debt by entering into a new term loan credit and security agreement (the "Term Loan Credit Agreement") and a new revolving loan credit and security agreement (the "Revolving Loan Credit Agreement", and together with the Term Loan Credit Agreement, the "Credit Agreements") each dated June 30, 2015 (the "Closing Date") by and among EndoChoice and certain of its subsidiaries, MidCap Financial Trust, and Silicon Valley Bank.
The Credit Agreements contain representations and covenants typical for credit arrangements of comparable size in the medical device industry, including certain financial covenants related to minimum liquidity levels and net revenues. The Credit Agreements also contain customary events of default. If an event of default occurs and is not cured within any applicable grace period or is not waived, the creditors are entitled to take various actions, including, without limitation, the acceleration of amounts due thereunder, termination of commitments under the Credit Agreements, and realization upon the collateral securing the credit facilities.
Term Loan Facility
The Term Loan Credit Agreement provides for a five-year $43,000 senior term loan facility (the "Term Loan Facility") secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. The Term Loan Facility bears interest at a fixed rate of 9.5% per year and is subject to an end of term fee of 2.95% on the $43,000 advanced under the facility on the Closing Date. Interest-only payments are due during the first 30 months of the Term Loan Facility, with principal payments beginning in January 2018 in equal monthly installments until maturity. The end of term fee is not applied to scheduled principal payments and is due only upon the earlier of repayment or maturity of the loan. The end of term fee is accrued as additional interest expense using the effective interest rate method over the term of the loan.
Revolving Credit Facility
The Revolving Loan Credit Agreement provides for a five-year $15,000 senior revolving credit facility (the "Revolving Credit Facility") also secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. Amounts drawn under the Revolving Credit Facility will bear interest at the LIBOR Rate (as defined in the Revolving Loan Credit Agreement) plus 5.25% per year, while the undrawn portion is subject to an unused line fee of 0.50% per year. No amounts were drawn or outstanding under the Revolving Credit Facility as of March 31, 2016. The Revolving Credit Facility expires on June 30, 2020.
(11)
Commitments and Contingencies
The Company has certain minimum obligations under noncancelable operating lease agreements, principally in connection with office and warehouse space, which contain provisions for rent-free periods. The total amount of rental payments due over the lease terms are being charged to rent expense using the straight-line method over the terms of the leases. Rent expense associated with noncancelable operating leases totaled $370 and $288 for the three months ended March 31, 2016 and 2015, respectively.

11

Future minimum lease payments under noncancelable operating leases at March 31, 2016 are as follows:
 
Amount
Year:
 
2016 (remaining)
$
1,292

2017
1,792

2018
1,567

2019
1,534

2020
1,153

2021
1,051

Thereafter
370

Total
$
8,759

(12)
Stock-based Compensation
Equity Incentive Plans
The Company's equity incentive plans are broad-based, long-term programs intended to attract, motivate, and retain talented non-employee directors, officers, and employees and to align their interests with stockholders. For the three months ended March 31, 2016, the Company made new grants under the following equity incentive plans:
2015 Omnibus Equity Incentive Plan
The 2015 Omnibus Equity Incentive Plan (the "2015 Plan") allows for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance unit awards, performance share awards, cash-based awards, and other stock-based awards to eligible individuals.
A total of 2,301,145 shares of our common stock are reserved for issuance under the 2015 Plan. As of March 31, 2016, 795,957 stock options, 649,067 shares of restricted stock, and 212,504 restricted stock units have been granted under the 2015 Plan. The 2015 Plan contains an “evergreen” provision allowing for an annual increase in the number of shares of our common stock available for issuance under the 2015 Plan on January 1 of each year during the period beginning January 1, 2016 and ending on (and including) January 1, 2025. The annual increase in the number of shares will be equal to four percent (4%) of the total number of shares of common stock outstanding on December 31 of the preceding calendar year; provided, however, that our board of directors is authorized to act prior to the first day of any calendar year to determine if the increase will be a lesser number of shares of common stock than would otherwise occur.
Employee Stock Purchase Plan
The Company's Employee Stock Purchase Plan ("ESPP") is designed to allow our eligible employees to purchase shares of our common stock with accumulated payroll deductions of up to 15% of eligible compensation, subject to a purchase limitation of the lesser of 5,000 shares per offering period or $25 in fair market value of shares of common stock (determined at the time the option to purchase shares under the ESPP is granted) per annual period. The current offering period under the ESPP began on January 1, 2016 and concludes on June 30, 2016.
Stock Options
Following is a summary of stock option activity for the three months ended March 31, 2016:
 
Number of Options
 
Weighted average
exercise price
 
Weighted average remaining
contractual term
Outstanding at December 31, 2015
848,400

 
$
11.10

 
7.7 years
Granted
217,244

 
5.31

 
 
Exercised
(9,523
)
 
1.15

 
 
Forfeited
(812
)
 
2.83

 
 
Outstanding at March 31, 2016
1,055,309

 
10.02

 
8.0 years
Vested and exercisable at March 31, 2016
298,895

 
$
2.83

 
 

12

We estimate the fair value of stock options at the grant date using the Black-Scholes-Merton option pricing model. As of March 31, 2016, there was $3,010 of total unrecognized compensation cost related to stock options. These costs are expected to be recognized over a weighted average period of 3.4 years.
Restricted Stock and Restricted Stock Units
Following is a summary of restricted stock and restricted stock units activity for the three months ended March 31, 2016:
 
Number of Restricted
Stock Shares
 
Number of Restricted Stock Units
Unvested at December 31, 2015
1,083,793

 
—

Granted
—

 
212,504

Vested
(86,052
)
 
—

Forfeited
(674
)
 
—

Unvested at March 31, 2016
997,067

 
212,504

As of March 31, 2016, total unrecognized compensation cost related to restricted stock shares was $8,103 net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 3.0 years. As of March 31, 2016, total unrecognized compensation cost related to restricted stock units was $953, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 4.0 years.
Stock-based Compensation Expense
Stock-based compensation expense is recorded within the operating expense captions in the condensed consolidated statements of comprehensive loss based on the employees receiving the awards. We recognized stock-based compensation expense as follows during the three months ended March 31, 2016 and 2015:
 
 
Three Months Ended March 31,
 
 
2016
 
2015
Cost of revenues
 
$
47

 
$
—

Research and development
 
111

 
1

Sales and marketing
 
269

 
1

General and administrative
 
910

 
3

Total
 
$
1,337

 
$
5

(13)
Net Loss per Common Share
After giving effect to the corporate conversion as described in Note 1, the following table provides a reconciliation of the numerator and denominator used in calculating basic and diluted net loss per share attributable to common stockholders for the three months ended March 31, 2016 and 2015.
 
Three Months Ended March 31,
 
2016
 
2015
Numerator:
 
 
 
Net loss attributable to common stockholders
$
(17,062
)
 
$
(15,274
)
Denominator:
 
 
 
Weighted-average common shares outstanding - basic
24,957,002

 
15,318,390

Dilutive effect of stock options, warrants, restricted stock, and restricted stock units1
—

 
—

Weighted-average common shares outstanding - diluted
24,957,002

 
15,318,390

Net loss per share attributable to common stockholders - basic and diluted
$
(0.68
)
 
$
(1.00
)
1Potentially dilutive stock options, warrants, restricted stock, and restricted stock units were excluded from the calculation of diluted weighted-average shares outstanding as they would have had an anti-dilutive effect due to losses reported during the three months ended March 31, 2016 and 2015.

13

The treasury stock method is used to determine the dilutive effect of the Company’s potentially dilutive securities. The following securities were excluded from the calculation of diluted shares outstanding due to their anti-dilutive effect
 
March 31, 2016
Stock options
1,055,309

Warrants for common stock
4,061

Restricted stock
997,067

Restricted stock units
212,504

Total
2,268,941

(14)
Income Taxes
Income taxes are determined using an estimated annual effective tax rate applied against income, which are then adjusted for the tax impacts of certain discrete items. The Company recorded income tax benefit of $30 and income tax expense of $199 during the three months ended March 31, 2016 and 2015, respectively, resulting in effective rates of 0.19% and 1.30% respectively. The Company updates its annual effective income tax rate each quarter, and if the estimated effective income tax rate changes, a cumulative adjustment is made. The low effective tax rates for the three months ended March 31, 2016 and 2015 are primarily due to full valuation allowances against certain deferred tax assets.
The Company evaluates the realizability of the deferred tax assets on a jurisdictional basis at each reporting date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax planning strategies in making this assessment. Based on future operating results, there is a reasonable possibility that the valuation allowance against deferred tax assets in Germany could be released within the next twelve months. No liability for uncertain tax positions has been recorded as of March 31, 2016 or December 31, 2015.
(15)
Segment, Geographical, and Customer Concentration
The Company is globally managed as one reportable segment, which is consistent with how management reviews the business, makes investing and resource allocation decisions, and assesses operating performance. The Company’s geographic regions consist of the United States and other areas, which are referred to as international.
The following table represents net revenues by geographic area based on the location of the customer during the three months ended March 31, 2016 and 2015:
 
Three Months Ended
March 31,
 
2016
 
2015
United States
$
16,603

 
$
15,321

International
1,859

 
1,427

Total
$
18,462

 
$
16,748

For the three months ended March 31, 2016 and 2015, no customers accounted for greater than 10% of revenues. Additionally, no customers accounted for greater than 10% of accounts receivable as of March 31, 2016 or December 31, 2015.
The composition of the Company’s long-lived assets, consisting of property and equipment, amortizable intangible assets, and goodwill by geographic area is set forth below:
 
March 31, 2016
 
December 31, 2015
United States
$
8,155

 
$
7,694

Israel
32,042

 
31,694

Other Regions
6,478

 
6,059

Total
$
46,675

 
$
45,447


14


Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
You should read the following management's discussion and analysis of our financial condition and results of operations in conjunction with our unaudited condensed consolidated financial statements and notes thereto included in Part I, Item 1 of this Quarterly Report on Form 10-Q and with our audited consolidated financial statements and notes thereto for the year ended December 31, 2015, included in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) on March 21, 2016.
When we refer to "we," "our," "us" or "EndoChoice" in this Quarterly Report on Form 10-Q, we mean EndoChoice Holdings, Inc. as well as all of our consolidated subsidiaries, unless otherwise expressly stated or the context otherwise requires.
Special note regarding forward-looking statements
This report contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those discussed in the forward-looking statements. The statements contained in this report that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "seek," "should," "strategy," "target," "will," "would" and similar expressions or variations intended to identify forward-looking statements. These statements are based on the beliefs and assumptions of our management based on information currently available to management. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those identified below and those discussed in the section titled "Risk Factors" included under Part II, Item 1A below. Furthermore, such forward-looking statements speak only as of the date of this report. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.
Overview
We are a medical device company focused exclusively on designing and commercializing a platform of innovative products and services for gastrointestinal, or GI, caregivers. We currently serve over 2,500 GI departments that perform endoscopic procedures, which represent approximately one-third of the U.S. market. We offer a comprehensive range of products and services that span single-use devices and infection control products, pathology and imaging systems. In December 2013, we began limited commercialization of our Fuse® full spectrum endoscopy system, or Fuse®. Our Fuse® system enables GI specialists to see more than twice the anatomy at any one time compared to standard, forward-viewing colonoscopes and has been clinically demonstrated to detect 69% more pre-cancerous polyps than standard colonoscopes. We believe our commitment to continuing innovation and focus on GI specialists provides us with the unique capability to meet their evolving needs. We intend to leverage our broad product platform, established customer relationships, commercial infrastructure and Fuse® technology to set a new standard of care for the global GI market.
We estimate that the addressable worldwide market for our GI endoscopy products and services is over $6 billion, with more than 70 million GI endoscopies performed each year in the United States, Japan and Europe combined. We estimate that the addressable market for our GI endoscopy products and services is growing at 7% annually driven by increased governmental and payor focus on screening, prevention and treatment of colorectal cancer and other GI conditions, an aging global population and changing dietary habits. GI endoscopies involve inserting a thin tube containing a camera or cameras into a natural orifice of the patient to examine the upper or lower GI tract in order to diagnose and treat various GI conditions, including colorectal cancer. GI endoscopies require a large number of steps, including setup, imaging, therapy, specimen retrieval, pathology and endoscope disinfection and repair, which we refer to collectively as the GI procedure cycle. The GI endoscopy market is highly fragmented and served by numerous companies, many of which focus on only one or two areas of the GI procedure cycle. We believe the needs of GI specialists are currently underserved due to the lack of a comprehensive provider solely focused on innovation in the GI endoscopy market.

15

We founded our company to serve the evolving needs of GI specialists by continually bringing to market a broad suite of innovative products across the GI procedure cycle. Since we began our commercial operations in 2008, we have developed an extensive line of devices and infection control products and have added pathology and scope repair services capabilities. Our products and services are designed to improve clinical outcomes and GI specialist productivity. In 2013, we acquired Peer Medical Ltd., which was developing a new endoscope system that we now call Fuse®. Our focus on product innovation and services that span the GI endoscopy procedure cycle has enabled our direct salesforce to penetrate approximately one-third of the GI departments in the United States in just seven years while increasing our sales per customer over that time.
Our products are used in colonoscopy and EGD and other procedures of the upper GI tract, which represent approximately 15 million and 8 million annual procedures in the United States, respectively, and together account for 96% of all GI endoscopic procedures. Colonoscopy is used for the screening, surveillance and diagnosis of GI diseases including colorectal cancer, inflammatory bowel disease and GI bleeding.
Our Fuse® system, which is intended for visualization of the GI tract and related therapeutic interventions, enables a wider field of view for upper and lower endoscopy procedures. Specifically, the Fuse® colonoscope offers a 330° view of the colon during colonoscopy instead of the 140° to 170° view offered by standard colonoscopes. This enables the GI specialist to visualize more than twice the anatomy at any one time as compared to a standard colonoscope and improves the ability to more thoroughly examine the colon without prolonging the time to complete the colonoscopy. According to the results of a tandem clinical trial published in The Lancet Oncology, GI specialists using Fuse® during colonoscopy identified 69% more pre-cancerous polyps than when using standard endoscopes. The improved detection is clinically important not only because pre-cancerous polyps are removed during the procedure, but also because clinical guidelines recommend more frequent colonoscopies following initial detection of pre-cancerous polyps. Further, we believe that increased adoption of Fuse® for colorectal cancer screening could result in significant savings to healthcare payors given the high cost of colorectal cancer related surgical intervention and subsequent treatment. The costs of surgeries and related care can be significant, with total costs to the U.S. healthcare system estimated to exceed $8 billion per year.
During the three months ended March 31, 2016 and 2015, our net revenue was $18,462 and $16,748, respectively. During the three months ended March 31, 2016 and 2015, our net loss was $17,062 and $15,274, respectively. We have not been profitable since inception and as of March 31, 2016, our accumulated deficit was $173,611. We have made significant investments over the past three years in our research and development, sales and marketing, general administrative, and manufacturing operations in support of the commercialization of Fuse®. We intend to continue to make investments in building our U.S. and International commercial infrastructure and sales force and in recruiting and training our sales representatives in addition to research and development of new products.
Components of our results of operations
We manage our business globally within one reportable segment, which is consistent with how our management reviews our business, prioritizes investment and resource allocation decisions and assesses operating performance.
Net revenues
We generate revenue primarily from the sales of GI equipment and supplies and GI pathology services to GI caregivers treating a wide range of GI diseases. Net revenues from GI equipment and supplies include revenue from imaging systems and related products, single use therapeutic devices and infection control products, and endoscope repair and maintenance, and our net revenues from GI pathology services include revenues from our GI pathology laboratory. Sales to U.S. customers represented approximately 89.9% and 91.2% for the three months ended March 31, 2016 and 2015, respectively.
Our Fuse® system is comprised of colonoscopes and gastroscopes, a FuseBox® video processor, a FusePanel® image management system, a FuseView® monitor system, a standard FuseCart® and other related supplies. We sell our Fuse® system primarily to GI departments in ASCs and hospitals in the United States and Germany and through distributors in other international markets.
We expect revenue to increase in the future as we expand our sales, marketing, and distribution capabilities to support growth in the United States and internationally as our Fuse® system becomes more widely adopted. We expect revenues to increase during the remainder of 2016 from 2015 levels due to the commercialization of Fuse® and a growing base of customers for our single-use infection control and device products and our pathology services.

16

Cost of revenues
We have manufacturing facilities in Caesarea, Israel and Halstenbek, Germany, and we assemble products in the United States at our facilities in Alpharetta, Georgia and Reno, Nevada. Cost of revenues consist primarily of manufacturing, overhead, direct material, and direct labor costs. A significant portion of our cost of revenues consists of manufacturing overhead costs such as quality assurance, material procurement, inventory control, warehousing and shipment, facilities, equipment depreciation, and operations supervision and management. Due to our relatively low production and sales volumes compared to our available manufacturing capacity, currently a large portion of our Fuse® unit product costs is comprised of manufacturing overhead expense. We expect cost of revenues to decrease as a percentage of net revenues in the future as our per-unit manufacturing costs decline due to greater absorption of our fixed manufacturing costs over an increase in units produced. In addition, we expect our direct materials and direct labor costs to decline with higher sales and production volumes as we are able to negotiate more favorable pricing from component suppliers and introduce design programs to reduce the number and complexity of parts.
Gross profit
We calculate gross profit as net revenues less cost of revenues. Gross profit has been and will continue to be affected by a variety of factors, including production and sales volumes, manufacturing costs, product reliability, production yields, and the implementation over time of cost-reduction strategies. We expect gross profit to increase over time as production and sales volumes increase and the fixed portion of manufacturing overhead costs are allocated over a larger number of units produced, thereby significantly reducing our per unit manufacturing costs. However, gross profit will likely fluctuate from quarter to quarter.
Research and development
Our research and development, or R&D, employees are exclusively focused on the GI industry and are located in Israel, the United States, and Germany. R&D expenses consist primarily of engineering, product development, clinical and regulatory affairs, consulting services, materials, depreciation, patent related costs, start-up manufacturing costs, and R&D activities associated with our core technologies and processes. We expense all R&D costs as incurred.
We expect R&D expense to increase as we continue to innovate and introduce new products and technologies addressing the evolving needs of the GI caregiver. However, we anticipate that our R&D costs will decrease as a percentage of net revenues over time if we are successful growing the sales of our products.
Sales and marketing
We employ a team of experienced sales and marketing professionals in the United States and Germany. In international markets, we sell through 30 distributors and employ a team of experienced sales and marketing representatives in Germany who together serve our markets in Europe, the Middle East, Latin America, and Asia. Sales and marketing expense consists primarily of salaries, employee benefits, commissions and bonuses, and related personnel costs. In addition, sales and marketing expense includes marketing and promotional activities, trade shows, travel expenses, depreciation on Fuse® demonstration equipment, and professional fees for consulting services. We expect sales and marketing expense to increase as we continue to expand our sales force and marketing activities to support the commercialization of Fuse® and further sales of our other products. The timing of these increased expenditures are dependent upon the commercial success of Fuse®, sales growth of our other products, the timing of new product launches, and the expansion of our sales force. We expect sales and marketing expense as a percentage of revenue to decline over time if we are able to increase product sales.
General and administrative
General and administrative expense, or G&A, consists primarily of salaries, employee benefits, bonuses, stock-based compensation expense, and related costs for our executive, financial, legal and administrative functions. Other G&A expenses include outside legal counsel and litigation expenses, independent auditors and other outside consultants, corporate insurance, facilities, and information technology expenses. We expect the amount of G&A expenses to continue to increase for the foreseeable future as we employ additional personnel and incur additional legal, accounting, insurance and other professional service fees associated with being a public company. However, we expect G&A expenses to decrease as a percentage of net revenue if we are successful in growing the sales of our products.

17

Amortization of intangible assets
Amortization of intangible assets consists primarily of amortization expense related to separately identified intangible assets including developed technology, customer relationships and other assets acquired as a result of the acquisitions of Peer Medical Ltd. ("Peer Medical") and RMS Endoskopie-Technik Stephan Wieth e.K. ("RMS") in January 2013. The value of the intangible assets acquired in the Peer Medical and RMS transactions was $23,731 and $1,894, respectively. The amortization of intangibles is expected to decline over time based on the useful lives of each identified intangible asset.
Other expense
Other expense is comprised primarily of interest expense, loss on early retirement of debt, foreign currency transaction gains and losses, and changes in the fair value of warrant liabilities. Interest expense consists primarily of interest payments made pursuant to our current Term Loan Credit Agreement with MidCap Financial Trust and Silicon Valley Bank (which we refer to as our Term Loan Facility). We refinanced our previous Senior Secured Credit Facility with Silicon Valley Bank and Growth Capital Facility with Triple Point Capital on June 30, 2015. Interest expense will fluctuate in future periods to the extent that we incur additional debt or repay loans. Our foreign currency transaction gains and losses primarily relate to foreign currency denominated cash, liabilities, and intercompany receivables and payables. The warrants issued to Triple Point Capital in connection with the Growth Capital Facility were remeasured to fair value on the date of the corporate conversion and reclassified from other long term liabilities to additional paid-in capital on the condensed consolidated balance sheet.
Income taxes
Income tax expense results primarily from income taxes in foreign jurisdictions in which we conduct business. We maintain a full valuation allowance in certain jurisdictions for deferred tax assets, including net operating loss carryforwards, research and development credits, and other tax credits. We are taxed at the rates applicable within each jurisdiction in which we operate and/or generate revenue. The composite income tax rate, tax provisions, deferred tax assets, and deferred tax liabilities will vary according to the jurisdiction in which profits arise. Tax laws are complex and subject to different interpretations by management and the respective governmental taxing authorities and require us to exercise judgment in determining our income tax provision, our deferred tax assets and liabilities, and the valuation allowance recorded against our net deferred tax assets. Deferred tax assets and liabilities are determined using the enacted tax rates in effect for the years in which those tax assets are expected to be realized. A valuation allowance is established when it is more likely than not that the future realization of all or some of the deferred tax assets will not be achieved.
Critical accounting policies and estimates
Management's discussion and analysis of our financial condition and results of operations is based on our financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of these financial statements requires us to make estimates and assumptions for the reported amounts of assets, liabilities, revenue, expenses and related disclosures. Our estimates are based on our historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions and any such differences may be material.
There have been no significant changes to our critical accounting policies during the three months ended March 31, 2016 as compared to the significant accounting policies described in our Annual Report. We believe that the critical accounting policies discussed in our Annual Report are important to understanding our historical and future performance, as these policies relate to the more significant areas involving management's judgments and estimates.
Recently issued accounting pronouncements
Please see Note 3 to the condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

18

Results of operations
Comparison of the Three Months ended March 31, 2016 and 2015
The following table set forth amounts from our unaudited condensed consolidated financial statements for the three months ended March 31, 2016 and 2015 (dollars in thousands):
 
 
Three Months Ended
March 31,
 
 
2016
 
2015
Net revenues:
 
 
 
 
GI equipment and supplies
 
$
14,414

 
$
13,795

GI pathology services
 
4,048

 
2,953

Net revenues
 
18,462

 
16,748

Cost of revenues:
 
 
 
 
GI equipment and supplies
 
12,397

 
10,026

GI pathology services
 
1,536

 
1,143

Cost of revenues
 
13,933

 
11,169

Gross profit
 
4,529

 
5,579

Operating Expenses:
 
 
 
 
Research and development
 
4,023

 
4,683

Sales and marketing
 
9,609

 
8,243

General and administrative
 
6,324

 
4,417

Amortization of intangible assets
 
682

 
687

Operating expenses
 
20,638

 
18,030

Operating loss
 
(16,109
)
 
(12,451
)
Other expense
 
(983
)
 
(2,624
)
Net loss before income taxes
 
(17,092
)
 
(15,075
)
Income tax expense
 
30

 
(199
)
Net loss
 
$
(17,062
)
 
$
(15,274
)
Net revenues
The following table sets forth revenue by product category for the three months ended March 31, 2016 and 2015 (dollars in thousands):
 
 
Three Months Ended
March 31,
 
 
2016
 
2015
Imaging
 
$
5,648

 
$
5,504

Single-use products
 
8,766

 
8,291

GI equipment and supplies
 
14,414

 
13,795

GI pathology services
 
4,048

 
2,953

Net revenues
 
$
18,462

 
$
16,748

Net revenues for GI equipment and supplies increased $619, or 4.5%, to $14,414 for the three months ended March 31, 2016 compared to $13,795 during the three months ended March 31, 2015. The growth in net revenues for GI equipment and supplies was primarily attributable to an increase in sales of Fuse® systems from 26 systems in the three months ended March 31, 2015 to 30 systems in the three months ended March 31, 2016, or 15.4%. Our average selling price per system was consistent for all periods presented. The growth in net revenues for GI equipment and supplies was also attributable to a 5.7% increase in net revenues of our single-use therapeutic devices and infection control products for the three months ended March 31, 2016 compared to the three months ended March 31, 2015, which was achieved through expansion of our customer base.

19

Net revenues for GI pathology services increased $1,095, or 37.1%, to $4,048 for the three months ended March 31, 2016 compared to $2,953 during the three months ended March 31, 2015. The growth in net revenues for GI pathology services was attributable to a 54.1% increase in the number of specimens processed for the three months ended March 31, 2016 compared to the three months ended March 31, 2015 due to an increase in the number of referring physicians.
Cost of revenues
Cost of revenues for GI equipment and supplies increased $2,371, or 23.6%, to $12,397 during the three months ended March 31, 2016 compared to $10,026 during the three months ended March 31, 2015. The increase in cost of revenues was primarily attributable to an increase in the number of Fuse® systems sold. In addition, the three months ended March 31, 2016 included an obsolescence charge of $611 related to older versions of Fuse® systems and parts as well as $345 of scrap incurred during startup of a new production process. As a percentage of GI equipment and supplies revenues, cost of revenues for GI equipment and supplies was 86.0% for the three months ended March 31, 2016 compared to 72.7% for the three months ended March 31, 2015. The increase in GI equipment and supply costs as a percentage of revenue was due to the lower gross margins on Fuse® during the ramp up of global manufacturing operations and as we introduce new product generations prior to achieving significant sales.
Cost of revenues for GI pathology services increased $393, or 34.4%, to $1,536 during the three months ended March 31, 2016 compared to $1,143 during the three months ended March 31, 2015. The increase in GI pathology costs related to higher variable costs resulting from the growth in specimens processed, partially offset by the allocation of fixed production overhead costs to more specimens processed. As a percentage of GI pathology services revenues, cost of revenues for GI pathology services was 37.9% for the three months ended March 31, 2016 compared to 38.7% for the three months ended March 31, 2015.
As we continue the commercialization of Fuse® beyond 2016, if we are able to achieve higher sales volumes and economies of scale in manufacturing, we expect cost of revenues to decrease as a percentage of net revenues as our per-unit manufacturing costs decline due to the absorption of fixed manufacturing costs over a greater number of production units and the introduction of design and sourcing programs to reduce the cost of direct materials. Our ability to achieve a reduction in cost of revenues as a percentage of revenues is dependent on the reliability of our products and the widespread acceptance of Fuse®.
Gross profit
Gross profit was $4,529 for the three months ended March 31, 2016 compared to $5,579 for the three months ended March 31, 2015, a decrease of $1,050 or 18.8%, respectively, for the reasons discussed above.
Research and development
Research and development expenses decreased $660, or 14.1%, to $4,023 during the three months ended March 31, 2016 compared to $4,683 during the three months ended March 31, 2015. The decrease in expense is primarily attributable to the reduction of Fuse® start-up manufacturing costs, prototypes, and project expenses. Research and development expense included $802 for the three months ended March 31, 2015 of labor and overhead costs associated with certain engineering activities required to advance the design of Fuse® for manufacture. No such costs were included in research and development expense for the three months ended March 31, 2016. Additionally, stock-based compensation expense charged to research and development was $111 for the three months ended March 31, 2016 compared to $1 for the three months ended March 31, 2015. As a percentage of net revenues, research and development expenses were 21.8% and for the three months ended March 31, 2016 compared to 28.0% for the three months ended March 31, 2015.
Sales and marketing
Sales and marketing expenses increased $1,366, or 16.6%, to $9,609 during the three months ended March 31, 2016 compared to $8,243 during the three months ended March 31, 2015. The increase is primarily attributable to expanding the sales and marketing organization as well as stock-based compensation. Sales and marketing expense includes $269 for stock-based compensation during the three months ended March 31, 2016 compared to $1 during the three months ended March 31, 2015. As a percentage of net revenues, sales and marketing expense was 52.0% for the three months ended March 31, 2016 compared to 49.2% for the three months ended March 31, 2015.

20

General and administrative
General and administrative expense increased $1,907, or 43.2%, to $6,324 during the three months ended March 31, 2016 compared to $4,417 during the three months ended March 31, 2015. The increase was due to expenses related to being a public company, stock-based compensation, and an increase in headcount as we invested in our infrastructure and systems to support the growth of the company and commercialization of Fuse®. General and administrative expense includes $910 for stock based compensation expense during the three months ended March 31, 2016 compared to $3 during the three months ended March 31, 2015. As a percentage of net revenues, general and administrative expenses were 34.3% for the three months ended March 31, 2016 compared to 26.4% for the three months ended March 31, 2015.
Amortization of intangible assets
Amortization of intangible assets was $682 for the three months ended March 31, 2016 compared to $687 for the three months ended March 31, 2015. The decrease relates to fluctuations in foreign currency exchange rates.
Other expense
For the three months ended March 31, 2016 and 2015, other expense was as follows (dollars in thousands):
 
 
Three Months Ended
March 31,
 
 
2016
 
2015
Interest expense
 
$
(1,147
)
 
$
(1,591
)
Foreign currency exchange gain (loss)
 
57

 
(986
)
Other income (expense)
 
107

 
(47
)
Other expense
 
$
(983
)
 
$
(2,624
)
Other expense decreased $1,641, or 62.5%, to $983 during the three months ended March 31, 2016 compared to $2,624 during the three months ended March 31, 2015. The decrease was driven by a net decrease in foreign currency losses and interest expense of $1,043 and $444, respectively, and an increase in other income of $154 for the three months ended March 31, 2016 compared to the three months ended March 31, 2015. The foreign currency losses relate to the impact of revaluing certain of our intercompany receivables and payables between our U.S., German, and Israeli subsidiaries as a result of changes in the respective Euro and Shekel to U.S. dollar exchange rates. The decrease in interest expense was primarily the result of lower interest rates on outstanding debt during the three months ended March 31, 2016 compared to the three months ended March 31, 2015.
Income tax expense
Income tax benefit was $30 for the three months ended March 31, 2016 compared to income tax expense of $199 for the three months ended March 31, 2015, a decrease of $229. The decrease during the three months ended March 31, 2016 compared to the three months ended March 31, 2015 was primarily due to income taxes on foreign subsidiary earnings.
Significant trends and uncertainties impacting our business
The global GI Endoscopy market has been growing as a result of:
•
increased governmental and payor focus on colorectal cancer screening, prevention and treatment of colorectal cancer and other GI conditions;
•
an aging global population; and
•
changing dietary habits.
Nonetheless, we face a number of challenges and uncertainties, including:
•
lack of experience that GI customers have with our products (and our Fuse® system in particular) and their concerns that we are relatively new to the business of designing and manufacturing endoscopy systems;
•
concerns that our competitors have greater financial and other resources than our company;
•
entrenched relationships that our competitors have with potential customers and their competitive response and negative selling efforts against us; and
•
reluctance by GI caregivers to change or to use new products and services for established procedures.

21

We are also subject to additional risks and uncertainties discussed in our Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the section titled “Risk Factors” included in Part II, Item 1A below.
Seasonality and quarterly fluctuations
Our business is seasonal in nature. We have experienced and expect to continue to experience variability in our revenue and gross profit among quarters, as well as within each quarter, as a result of a number of factors, including adverse weather and by resetting of annual patient healthcare insurance plan deductibles, both of which may cause patients to delay elective procedures, particularly in the first quarter. Demand and timing for GI endoscopy procedures may be impacted by provider budgetary cycles and by the desire of patients to spend their remaining balances in flexible-spending accounts or because they have met their annual deductibles under their health insurance plans. In addition, sales cycles for medical capital equipment such as our Fuse® system are longer than other products, which may result in revenue variations caused by the timing of the receipt of customer orders or the shipment of our systems. In the first quarter, the number of GI endoscopy procedures nationwide is historically lower than other quarters throughout the year, which we believe is attributable to winter weather and patients deferring elective procedures until they have met their insurance deductibles during a year. Other factors that may cause variability in our results include: the number and mix of products sold in the quarter, the demand for, and pricing of, our products and the products of our competitors; the timing of or failure to obtain regulatory clearances or approvals for products; costs, benefits and timing of new product introductions; increased competition; the timing of the receipt of customer orders; changes in average selling prices; the availability and cost of components and materials; number of selling days; and fluctuations in foreign currency exchange rates.
Liquidity and capital resources
Overview
Since our inception and prior to our IPO, we financed our operations primarily through non-public equity financings and to a lesser extent, debt financings. During June 2015, we completed our IPO and received net proceeds of $94,186. Based on our current operating plan, we expect that cash and marketable securities on hand as well as $15,000 of available capital under our revolving line of credit will be sufficient to fund our operations into 2018. As of March 31, 2016, we had total cash, cash equivalents, and marketable securities of $70,617 and an accumulated deficit of $173,611.
On June 30, 2015, the Company refinanced its outstanding debt by entering into a new $58,000 credit facility, which includes a Term Loan Credit Agreement and a Revolving Loan Credit Agreement with MidCap Financial Trust and Silicon Valley Bank. The Term Loan Credit Agreement provides for a five-year $43,000 senior term loan facility (the "Term Loan Facility"), and the Revolving Loan Credit Agreement provides for a five-year $15,000 senior revolving credit facility (the "Revolving Credit Facility"). Both the Term Loan Facility and Revolving Credit Facility are secured by a lien on substantially all of the assets of the Company and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. Interest-only payments are due during the first 30 months of the Term Loan Facility, with principal payments beginning in January 2018 in equal monthly installments until maturity.
Proceeds from the Term Loan Facility were used to repay $40,000 of outstanding loans under the Growth Capital Loan and Security Agreement dated February 18, 2014 with Triple Point Capital, LLC (the "Growth Capital Facility"), $2,306 of prepayment and end of term fees under the Growth Capital Facility, and approximately $517 of other fees and expenses in connection with the refinancing, with the remaining $177 of proceeds used for general business purposes. The Revolving Credit Facility is expected to be used in the future for working capital needs and general business purposes. The Term Loan Credit Agreement and Revolving Loan Credit Agreement are discussed below under the caption "Indebtedness".
Our liquidity position and capital requirements may be impacted by a number of factors, including the following:
 
•
our ability to generate revenues;
•
fluctuations in gross margins, operating expenses and net loss; and
•
fluctuations in working capital.

22

Our primary short-term capital needs, which are subject to change, include expenditures related to:
 
•
support of our commercialization efforts related to Fuse®;
•
expansion of our sales and marketing activities, including hiring new direct sales representatives;
•
purchases of new product demonstration equipment, including colon models and other simulation equipment, used by our sales representatives and other personnel for Fuse® product demonstrations to GI specialists;
•
improvements in our manufacturing capacity as sales of our Fuse® system and other products increase in the future, which will include the acquisition of equipment and other fixed assets related primarily to the manufacturing of our Fuse® system and our other products;
•
improvements to our information technology systems; and
•
payment of interest due under our Term Loan Credit Agreement.
We may raise additional funds to finance future cash needs through public or private equity offerings, debt financings, receivables or royalty financings or corporate collaboration and licensing arrangements. The covenants under our credit facilities limit our ability to obtain additional debt financing. We cannot be certain that additional funding will be available on acceptable terms, or at all. Any failure to raise capital in the future could have a negative impact on our financial condition and our ability to pursue our business strategies.
If we raise additional funds by issuing equity securities or convertible debt, our stockholders will experience dilution. Debt financing, if available, would result in increased fixed payment obligations and may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. Any debt financing or additional equity that we raise may contain terms, such as liquidation and other preferences, which are not favorable to us or our stockholders. If we raise additional funds through collaboration and licensing arrangements with third parties, it may be necessary to relinquish valuable rights to our products, future revenue streams or product candidates, or to grant licenses on terms that may not be favorable to us.
Cash flows
The following table provides a summary of our cash flows for the periods indicated (dollars in thousands):
 
Three Months Ended
March 31,
 
2016
 
2015
Net cash used in operating activities
$
(14,345
)
 
$
(10,421
)
Net cash provided by (used in) investing activities
7,085

 
(1,292
)
Net cash provided by financing activities
26

 
31,000

Effect of exchange rate changes on cash and cash equivalents
186

 
(67
)
Net (decrease) increase in cash and cash equivalents
$
(7,048
)
 
$
19,220

 
 
 
 

23

Cash flows from operating activities
During the three months ended March 31, 2016, net cash used in operating activities was $14,345, consisting primarily of a net loss of $17,062 and an increase in net operating assets of $1,747, partially offset by non-cash charges of $4,464. The cash used in operations was primarily due to the ongoing commercialization of Fuse® and the expansion of our infrastructure in sales and marketing, research and development, and manufacturing supply chain. The increase in net operating assets was due to a decrease in accounts payable, accrued expenses, and other liabilities, partially offset by decreases in accounts receivable, inventories, and other assets. The non-cash charges primarily related to depreciation and amortization, loss on impairment of property and equipment, stock-based compensation, and provision for doubtful accounts.
During the three months ended March 31, 2015, net cash used in operating activities was $10,421, consisting primarily of a net loss of $15,274, offset by a decrease in net operating assets of $270 and non-cash charges of $4,583. The cash used in operations was primarily due to the ongoing commercialization of Fuse® and the expansion of our infrastructure in sales and marketing, research and development, and manufacturing supply chain. The decrease in net operating assets was due to decreases in inventory and other assets as well as an increase in accounts payable, accrued expenses, and other liabilities, partially offset by increases in accounts receivable and prepaid expenses and other current assets. The non-cash charges primarily related to depreciation and amortization, unrealized foreign currency losses, and loss on impairment of property and equipment.
Cash flows from investing activities
During the three months ended March 31, 2016, net cash provided by investing activities was $7,085, consisting of proceeds from the maturity of marketable securities of $9,925, offset by $2,840 of capital expenditures associated with global expansion and the commercialization of Fuse®.
During the three months ended March 31, 2015, net cash used in investing activities was $1,292, comprised of an increase in the deployment of Fuse® demonstration equipment and an increase in other capital expenditures associated with global expansion and the commercialization of Fuse®.
Cash flows from financing activities
During the three months ended March 31, 2016, net cash provided by financing activities was $26, consisting primarily of cash from option exercises.
During the three months ended March 31, 2015, net cash provided by financing activities was $31,000, consisting of proceeds from the issuance of member units of 31,000.

24

Indebtedness
On June 30, 2015, the Company refinanced its outstanding debt by entering into the $43,000 Term Loan Credit Agreement and $15,000 Revolving Loan Credit Agreement with MidCap Financial Trust and Silicon Valley Bank.
The Credit Agreements contain representations and covenants typical for credit arrangements of comparable size in the medical device industry, including certain financial covenants related to minimum liquidity levels and net revenues. The Credit Agreements also contain customary events of default. If an event of default occurs and is not cured within any applicable grace period or is not waived, the creditors are entitled to take various actions, including, without limitation, the acceleration of amounts due thereunder, termination of commitments under the Credit Agreements, and realization upon the collateral securing the credit facilities.
Term Loan Facility
The Term Loan Credit Agreement provides for a five-year $43,000 senior term loan facility (the "Term Loan Facility") secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. The Term Loan Facility bears interest at a fixed rate of 9.5% per year and is subject to an end of term fee of 2.95% on the $43,000 advanced under the facility on the Closing Date. Interest-only payments are due during the first 30 months of the Term Loan Facility, with principal payments beginning in January 2018 in equal monthly installments until maturity. The end of term fee is not applied to scheduled principal payments and is due only upon the earlier of repayment or maturity of the loan. The end of term fee is accrued as additional interest expense using the effective interest rate method over the term of the loan.
Proceeds from the Term Loan Facility were used to voluntarily prepay $40,000 of outstanding loans under the Growth Capital Facility with Triple Point Capital, LLC, to pay $2,306 of prepayment and end of term fees, and to pay $517 of other fees and expenses in connection with the refinancing.
Revolving Credit Facility
The Revolving Loan Credit Agreement provides for a five-year $15,000 senior revolving credit facility (the "Revolving Credit Facility") also secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. Amounts drawn under the Revolving Credit Facility will bear interest at the LIBOR Rate (as defined in the Revolving Loan Credit Agreement) plus 5.25% per year, while the undrawn portion is subject to an unused line fee of 0.50% per year. No amounts were drawn or outstanding under the Revolving Credit Facility as of March 31, 2016. The Revolving Credit Facility expires on June 30, 2020.

25

Contractual obligations and commitments
The following table summarizes our expected material contractual payment obligations as of March 31, 2016 (dollars in thousands):
 
Payments due by period
 
Total
 
Less than
1 year
 
1-3
years
 
3-5
years
 
More than 5 years
Long-term debt obligations(1)(2)
$
44,269

 
$
—

 
$
21,500

 
$
22,769

 
$
—

Operating leases
8,759

 
1,756

 
3,296

 
2,568

 
1,139

Total
$
53,028

 
$
1,756

 
$
24,796

 
$
25,337

 
$
1,139


(1)
Under the terms of the Term Loan Credit Agreement, principal payments begin January 2018 and continue until maturity on June 30, 2020.
(2)
Includes aggregate end of term fees of $1,269 due at maturity of the Term Loan Credit Agreement.
Off-balance sheet arrangements
We do not have any off-balance sheet arrangements.
JOBS Act
We qualify as an “emerging growth company” pursuant to the provisions of the JOBS Act. For as long as we are an “emerging growth company,” we may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging growth companies,” including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, reduced disclosure obligations relating to the presentation of financial statements in Management’s Discussion and Analysis of Financial Condition and Results of Operations, exemptions from the requirements of holding advisory “say-on-pay” votes on executive compensation and shareholder advisory votes on golden parachute compensation. We have availed ourselves of the reduced reporting obligations and executive compensation disclosure in this quarterly filing, and expect to continue to avail ourselves of the reduced reporting obligations available to emerging growth companies in future filings.
In addition, an emerging growth company can delay its adoption of certain accounting standards until those standards would otherwise apply to private companies. However, we are choosing to “opt out” of such extended transition period, and as a result, we plan to comply with any new or revised accounting standards on the relevant dates on which non-emerging growth companies must adopt such standards. Section 107 of the JOBS Act provides that our decision to opt out of the extended transition period for complying with new or revised accounting standards is irrevocable.

26

Item 3.     Quantitative and Qualitative Disclosures about Market Risk
We are exposed to market risks in the ordinary course of our business. The primary market risks that we are exposed to include interest rate risk, foreign currency exchange rate risk, and inflation risk.
Interest rate risk and credit risk
We are exposed to interest rate risk in connection with future borrowings under our Revolving Credit Facility, which will bear interest annually at a floating rate based upon the LIBOR Rate (as defined in the Revolving Loan Credit Agreement) plus 5.25%. As of March 31, 2016, no amounts were outstanding under our Revolving Credit Facility. We do not believe that we are exposed to material interest rate risk with respect to our Term Loan Facility, which bears interest at a fixed rate of 9.5% that is not subject to changes in market interest rates.
We are also exposed to a degree of interest rate risk and credit risk related to our investment activities. The primary objectives of our investment activities are to ensure liquidity and preserve capital. We also seek to maximize income from our investments without assuming significant risk. To achieve these objectives, we have established policies allowing excess cash to be invested in a diversified portfolio of high credit quality (Standard & Poor’s credit rating of A or better), U.S. dollar denominated marketable debt securities with durations of less than 2 years, including U.S. Treasury securities, U.S. government agency bonds, money market funds, certificates of deposit, and commercial paper.
As of March 31, 2016, we held $7,032 of cash, $19,953 of cash equivalents, and $43,632 of available-for-sale investment securities. Cash equivalents were comprised of liquid money market funds with durations of less than 90 days, and available-for-sale investments were comprised of U.S. Treasury, U.S. government agency, commercial paper, and investment-grade corporate debt securities. Our investments bear interest primarily at fixed rates, have durations of less than two years, and are diversified across high-credit quality issuers. Therefore, we do not believe that our investment securities are subject to significant interest rate risk or credit risk. Nor do we believe that we are exposed to material interest rate risk with respect to cash, which is not subject to loss of principal due to fluctuations in interest rates and is held in readily available checking accounts with high quality financial institutions. A hypothetical 1% change in interest rates during any of the periods presented would not have had a material impact on our consolidated financial statements.
Foreign currency risk
A portion of our sales and operating expenses are incurred outside the United States, are denominated in foreign currencies, and are subject to fluctuations due to changes in foreign currency exchange rates, particularly changes in the Euro and the Shekel. Additionally, fluctuations in foreign currency exchange rates may cause us to recognize transaction gains and losses in our statements of comprehensive loss. To date, foreign currency transaction realized gains and losses have not been material to our consolidated financial statements, and we have not engaged in any foreign currency hedging transactions. As our international operations grow, we will continue to reassess our approach to managing the risks relating to fluctuations in currency rates.
For the three months ended March 31, 2016 and 2015, approximately 10.1% and 8.3%, respectively, of our sales were denominated in foreign currencies.
Inflation risk
Inflation generally affects us by increasing our cost of labor and manufacturing and other costs. We do not believe that inflation had a material effect on our business, financial condition, or results of operations during the three months ended March 31, 2016 and 2015.

27

Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
As required by Rule 13a-15 under the Securities Exchange Act of 1934, as amended (Exchange Act), our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of March 31, 2016, our disclosure controls and procedures are effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
Changes in Internal Control over Financial Reporting
There were no changes in our internal control over financial reporting that occurred during the three months ended March 31, 2016 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.


28

Part II. Other Information
Item 1. Legal Proceedings
We are not aware of any pending or threatened legal proceeding against us that could have a material adverse effect on our business, operating results or financial condition. The medical device industry is characterized by frequent claims and litigation, including claims regarding patent and other intellectual property rights as well as improper hiring practices. As a result, we may be involved in various additional legal proceedings from time to time.
Item 1A. Risk Factors
An investment in our common stock involves risks. You should carefully consider the risk factors as previously disclosed in our Annual Report on Form 10-K filed with the SEC on March 21, 2016, as well other information in this Quarterly Report on Form 10-Q, including the financial statements and related notes, before deciding whether to purchase, hold, or sell shares of our common stock. The occurrence of any of these risks could harm our business, financial condition, or results of operations or cause our actual results to differ materially from those contained in forward-looking statements we have made in this report and those we may make from time to time. You should consider all of the risk factors described when evaluating our business. There have been no material changes to the risk factors as previously disclosed in our Annual Report filed with the SEC on March 21, 2016, the discussion of which is specifically incorporated by reference into this Quarterly Report on Form 10-Q.


29

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
(a) Sales of Unregistered Securities
There were no sales of equity securities by us that were not registered under the Securities Act of 1933, as amended, during the three months ended March 31, 2016.
(b) Use of Proceeds from the Sale of Registered Securities
On June 10, 2015, we completed an initial public offering, or IPO, of our common stock. In connection with the IPO, we issued 7,302,500 shares of our common stock at a price of $15.00 per share, including 952,500 shares pursuant to the underwriters’ full exercise of their over-allotment option. The underwriters’ over-allotment option was comprised of 702,500 shares sold by us and 250,000 shares sold by certain selling stockholders. The offer and sale of all of the shares in the IPO were registered under the Securities Act pursuant to a registration statement on Form S-1, as amended (File No. 333-203883), which was declared effective by the SEC on June 4, 2015.
We received total net proceeds from the IPO of approximately $94,186 after deducting underwriting discounts and commissions of approximately $7,405 and other offering expenses of approximately $4,197. The selling stockholders received total net proceeds from the IPO of approximately $3,488 after deducting underwriting discounts and commissions of approximately $262. No offering expenses were paid or are payable, directly or indirectly, to any of our directors or officers (or their associates), to persons owning ten percent or more of any class of our equity securities, or to any other affiliates.
The net proceeds from the IPO have been invested in highly-liquid money market funds and investment grade marketable securities. There has been no material change in the planned use of proceeds from our IPO.

30

Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
Item 5. Other Information
None.

31

Item 6. Exhibits
The agreements and other documents filed as exhibits to this Quarterly Report on Form 10-Q are not intended to provide factual information or other disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by us in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs as of the date they were made or at any other time.
 
 
 
 
Incorporated by Reference
 
 
Exhibit
Number
 
Exhibit Description
 
Form
 
Date
 
Number
 
Filed Herewith
3.1
 
Certificate of Incorporation of EndoChoice Holdings, Inc.
 
10-Q
 
08/06/15
 
3.1
 
 
 
 
 
 
 
 
 
 
 
 
 
3.2
 
Bylaws of EndoChoice Holdings, Inc.
 
10-Q
 
08/06/15
 
3.2
 
 
 
 
 
 
 
 
 
 
 
 
 
4.1
 
Form of Stock Certificate for Common Stock
 
S-1/A
 
05/25/15
 
4.1
 
 
 
 
 
 
 
 
 
 
 
 
 
10.1#
 
Form of Nonqualified Stock Option Agreement for the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan, or 2015 Plan, for Grants on or after March 29, 2016
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.2#
 
Form of 102 Capital Gains Track Nonqualified Stock Option Agreement for 2015 Plan for Grants on or after March 29, 2016 to Employees in Israel
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.3#
 
Form of Nonqualified Stock Option Agreement for 2015 Plan for Grants on or after March 29, 2016 to Employees in Germany
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.4#
 
Form of Restricted Stock Unit Award Agreement for 2015 Plan for Grants on or after March 29, 2016
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.5#
 
Form of 102 Capital Gains Track Restricted Stock Unit Award Agreement for 2015 Plan for Grants on or after March 29, 2016 to Employees in Israel
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.6#
 
Form of Restricted Stock Unit Award Agreement for 2015 Plan for Grants on or after March 29, 2016 to Employees in Germany
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
10.7#
 
EndoChoice Holdings, Inc. Amended and Restated Employee Stock Purchase Plan, including Israeli Appendix, as approved by Shareholders on April 29, 2016
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
31.1
 
Certification of Chief Executive Officer required by Rule 13a-14(a) or Rule 15d-14(a)
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
31.2
 
Certification of Chief Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a)
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
32.1*
 
Certification required by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. §1350)
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.INS
 
XBRL Instance Document
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.SCH
 
XBRL Taxonomy Extension Schema Document
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
 
 
 
 
 
 
 
X
 
 
 
 
 
 
 
 
 
 
 
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document
 
 
 
 
 
 
 
X
# Indicates management contract or compensatory plan.
* The certification attached as Exhibit 32.1 that accompanies this Quarterly Report on Form 10-Q is not deemed filed with the SEC and is not to be incorporated by reference into any filing of EndoChoice Holdings, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-Q, irrespective of any general incorporation language contained in such filing.

32

Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
 
 
EndoChoice Holdings, Inc.
 
 
 
 
 
(Registrant)
 
 
 
 
Date: May 4, 2016
 
 
 
 
By:
/s/ David N. Gill
 
 
 
 
 
 
David N. Gill
President and Chief Financial Officer
(Principal Financial Officer and Accounting Officer and duly authorized signatory)





33



ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
Nonqualified Stock Option Agreement
This Nonqualified Stock Option Agreement (this “Agreement”) is made and entered into as of _______________ and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and ______________ (the “Participant”).
Grant Date:
__________________
Exercise Price per Share:
__________________
Total Shares of Stock Subject to Option:
__________________
Expiration Date:
__________________
1.Grant of Option.    
1.1    Grant; Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase the total number of shares of Common Stock of the Company, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”). The Option is intended to be a Nonqualified Stock Option and not an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code.
1.2    Consideration; Subject to Plan. The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company or its Affiliates and is subject to the terms and conditions of the Plan. Capitalized terms used but not defined herein will have the meaning ascribed to them in the Plan.
2.    Exercise Period; Vesting.
2.1    Vesting Schedule. The Option will become vested and exercisable with respect to _________________ shares per the following vesting schedule until the Option is 100% vested. Except as provided in this Agreement, the unvested portion of the Option will not be exercisable on or after the Participant’s Termination.
Vesting Date
Number of Stock Options That Vest
________________
__________________
________________
__________________
2.2    Expiration. The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.

1

3.    Termination of Employment or Service. The Participant’s Option shall be forfeited upon his or her Termination of employment or service, except as set forth below:
3.1    Termination for Reasons Other Than Cause, Death, Disability or Retirement. Upon a Participant’s Termination for any reason other than death, Disability, Retirement or for Cause, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the ninetieth (90th) day following such Termination and (b) the Expiration Date.
3.2    Termination for Cause. Upon a Participant’s Termination for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be exercisable.
3.3    Termination Due to Disability. Upon a Participant’s Termination by reason of Disability, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of such Termination and (b) the Expiration Date.
3.4    Termination Due to Death. Upon the Participant’s Termination by reason of death, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
3.5    Termination Due to Retirement. Upon a Participant’s Termination by reason of Retirement, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the fifth (5th) anniversary of such Termination and (b) the Expiration Date. For purposes of this Agreement, Retirement shall be mean a Participant’s Termination after either (a) the attainment of age 55 with 10 years of service, or (b) the attainment of age 65.
3.6    Death after Termination. Notwithstanding the above provisions of this Section 3, if a Participant dies after such Participant’s Termination, but while his or her Option remains exercisable as set forth above, such Option may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
4.    Manner of Exercise.
4.1    Election to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant's death or incapacity, the Participant's executor, administrator, heir or legatee, as the case may be) must deliver to the Company a written notice of intent to exercise in the form specified or accepted by the Committee (or by complying with any alternative exercise procedures that may be authorized by the Committee), setting forth the number of Shares with respect to which the Option is to be exercised. If someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.

2

4.2    Payment of Exercise Price. The entire Exercise Price of the Option shall be payable to the Company in full (which payment shall include applicable taxes, if any, in accordance with Article XVII of the Plan) at the time of exercise, by certified or bank check or such other instrument as the Committee may accept. If approved by the Committee, and subject to any such terms, conditions and limitations as the Committee may prescribe and to the extent permitted by applicable law, payment of the Option Price, in full or in part, may also be made in one or more of the manners permitted by Section 6.6 of the Plan.
4.3    Withholding. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted or payment due under the Plan the amount of all federal, state, local and non-United States taxes due in respect of such Award or payment and take any such other action as may be necessary or appropriate, as determined by the Committee, to satisfy all obligations for the payment of such taxes. No later than the date as of which an amount first becomes includible in the gross income or wages of a Participant for federal, state, local, or non-U.S. tax purposes with respect to any Award, such Participant shall pay to the Company, or make arrangements satisfactory to the Committee regarding the payment of, any federal, state, local or non-U.S. taxes or social security (or similar) contributions of any kind required by law to be withheld with respect to such amount, in accordance with Article XVII of the Plan.
4.4    Issuance of Shares. Subject to any governing rules or regulations, as soon as practicable after receipt of a written notification of exercise and full payment in accordance with the preceding provisions of this Section 4 and Section 6.6 of the Plan and satisfaction of tax obligations in accordance with Article XVII of the Plan, the Company shall deliver to the Participant exercising an Option, in the Participant’s name, evidence of book entry Shares, in an appropriate amount based upon the number of Shares purchased under the Option, subject to Section 20.9 of the Plan.
5.    No Right to Continued Service; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant's employment or service at any time, with or without Cause. No Participant or other person shall become the beneficial owner of any Shares subject to an Option, nor have any rights to dividends or other rights of a stockholder with respect to any such Shares, until a book entry has been created for the Participant with respect to such Shares following exercise of his or her Option in accordance with the provisions of the Plan and this Agreement; provided, that notwithstanding the foregoing, a Participant receiving an Option shall not have any rights to dividends with respect to any Shares earned upon satisfaction or achievement of the terms and conditions of such Option with respect to any period prior to the date upon which such a book entry is created for the Participant.

3

6.    Transferability. Except as otherwise provided in Sections 8.5 or 13.3 of the Plan or as otherwise determined at any time by the Committee, the Option may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than (i) by will or by the laws of descent and distribution or (ii) by gift or other transfer to any trust or estate in which the Participant or the Participant’s spouse or other immediate relative has a substantial beneficial interest, or to a spouse or other immediate relative, provided that any such transfer is permitted subject to Rule 16b-3 issued pursuant to the Exchange Act as in effect when such transfer occurs and the Board does not rescind this provision prior to such transfer; provided that the Committee may permit further transferability, on a general or a specific basis, and may impose conditions and limitations on any permitted transferability, subject to Section 13.1 of the Plan; provided further, however, that the Option may not be transferred for value or other consideration without first obtaining approval thereof by the stockholders of the Company and the Option shall not be transferable pursuant to a domestic relations order or similar order. Further, except as otherwise determined at any time by the Committee, or unless the Committee decides to permit further transferability, subject to Section 13.1 of the Plan, the Option shall be exercisable during the Participant’s lifetime only by the Participant.
7.    Change in Control. The terms of the Plan will govern the Option in the event of a Change in Control.
8.    Adjustments. The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan.
9.    Tax Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale of any shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant's liability for Tax-Related Items.
10.    Non-competition and Non-solicitation.
10.1    Non-competition and Non-solicitation Restrictions. In consideration of the Option, the Participant agrees and covenants not to:
(a)    contribute his or her knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant, agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar business as the Company and its Affiliates, including those engaged in a Competing Business (as defined in the EndoChoice Employee Covenants Agreement) during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination;
(b)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination; or

4

(c)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination.
10.2    Enforcement of Non-competition and Non-solicitation Restrictions. In the event of a breach or threatened breach by the Participant of any of the covenants contained in Section 10.1:
(a)    any unvested portion of the Option shall be forfeited effective as of the date of such breach, unless sooner terminated by operation of another term or condition of this Agreement or the Plan; and
(b)    the Participant hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
11.    Compliance with Law. The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.
12.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company's principal corporate offices. Any notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
13.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.
14.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

5

15.    Options Subject to Plan. This Agreement is subject to the Plan as approved by the Company's shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.
16.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom this Agreement may be transferred by will or the laws of descent or distribution.
17.    Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.
18.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment with the Company.
19.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Participant under this Agreement without the Participant’s consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan.
20.    No Impact on Other Benefits. The value of the Participant's Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.
21.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Participant consents to (a) receive any documents related to his or her current or future participation in the Plan, including this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

6

22.    Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

7


ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
102 Capital Gains Track Nonqualified Stock Option Agreement
This Nonqualified Stock Option Agreement (this “Agreement”) is made and entered into as of ________________ and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and _______________ (the “Participant”).
Grant Date:
__________________
Exercise Price per Share:
__________________
Total Shares of Stock Subject to Option:
__________________
Expiration Date:
__________________
1.Grant of Option.
1.1    Grant; Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase the total number of shares of Common Stock of the Company, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”) and the Israeli Appendix thereto (the “Israeli Appendix”). The Option is intended to be a Nonqualified Stock Option and not an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code.
1.2    Consideration; Subject to Plan. The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company or its Affiliates and is subject to the terms and conditions of the Plan and the Israeli Appendix. Capitalized terms used but not defined herein will have the meaning ascribed to them in the Plan and in the Israeli Appendix, as applicable.
2.    Exercise Period; Vesting.
2.1    Vesting Schedule. The Option will become vested and exercisable with respect to _______________ shares per the following vesting schedule until the Option is 100% vested. Except as provided in this Agreement, the unvested portion of the Option will not be exercisable on or after the Participant’s Termination.
Vesting Date
Number of Stock Options That Vest
_______________
________________
_______________
_______________
2.2    Expiration. The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.

1

3.    Termination of Employment or Service. The Participant’s Option shall be forfeited upon his or her Termination of employment or service, except as set forth below:
3.1    Termination for Reasons Other Than Cause, Death, Disability or Retirement. Upon a Participant’s Termination for any reason other than death, Disability, Retirement or for Cause, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the ninetieth (90th) day following such Termination and (b) the Expiration Date.
3.2    Termination for Cause. Upon a Participant’s Termination for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be exercisable.
3.3    Termination Due to Disability. Upon a Participant’s Termination by reason of Disability, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of such Termination and (b) the Expiration Date.
3.4    Termination Due to Death. Upon the Participant’s Termination by reason of death, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
3.5    Termination Due to Retirement. Upon a Participant’s Termination by reason of Retirement, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the fifth (5th) anniversary of such Termination and (b) the Expiration Date. For purposes of this Agreement, Retirement shall be mean a Participant’s Termination after either (a) the attainment of age 55 with 10 years of service, or (b) the attainment of age 65.
3.6    Death after Termination. Notwithstanding the above provisions of this Section 3, if a Participant dies after such Participant’s Termination, but while his or her Option remains exercisable as set forth above, such Option may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
4.    Manner of Exercise.
4.1    Election to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant's death or incapacity, the Participant's executor, administrator, heir or legatee, as the case may be) must deliver to the Company a written notice of intent to exercise in the form specified or accepted by the Committee (or by complying with any alternative exercise procedures that may be authorized by the Committee), setting forth the number of Shares with respect to which the Option is to be exercised. If someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.

2

4.2    Payment of Exercise Price. The entire Exercise Price of the Option shall be payable to the Company in full (which payment shall include applicable taxes, if any, in accordance with Article XVII of the Plan) at the time of exercise, by certified or bank check or such other instrument as the Committee may accept. If approved by the Committee, and subject to any such terms, conditions and limitations as the Committee may prescribe and to the extent permitted by applicable law and the Israeli Appendix, payment of the Option Price, in full or in part, may also be made in one or more of the manners permitted by Section 6.6 of the Plan.
4.3    Withholding. Subject to the provisions of the Israeli Appendix, the Company or any Subsidiary, Affiliate or the Trustee is authorized to withhold from any Award granted or payment due under the Plan the amount of all federal, state, local and non-United States taxes (including, for removal of doubt, national insurance payments and health tax) due in respect of such Award or payment and take any such other action as may be necessary or appropriate, as determined by the Committee, to satisfy all obligations for the payment of such taxes. No later than the date as of which an amount first becomes includible in the gross income or wages of a Participant for federal, state, local, or non-U.S. tax purposes with respect to any Award, such Participant shall pay to the Company, or make arrangements satisfactory to the Committee regarding the payment of, any federal, state, local or non-U.S. taxes or social security (or similar) contributions of any kind required by law to be withheld with respect to such amount, in accordance with Article XVII of the Plan and the Israeli Appendix. Notwithstanding the above, any withholding of shares in accordance with the terms of this Section will only be made in accordance with written instructions of the Participant.
4.4    Issuance of Shares. Subject to any governing rules or regulations and the terms of the Israeli Appendix, as soon as practicable after receipt of a written notification of exercise and full payment in accordance with the preceding provisions of this Section 4 and Section 6.6 of the Plan and satisfaction of tax obligations in accordance with Article XVII of the Plan and the Israeli Appendix, the Company shall deliver to the Participant exercising an Option, in the name of the Trustee for the benefit of the Participant or in the Participant’s name, as applicable, evidence of book entry Shares, in an appropriate amount based upon the number of Shares purchased under the Option, subject to Section 20.9 of the Plan.
5.    No Right to Continued Service; No Rights as Shareholder. Neither the Plan, including the Israeli Appendix nor this Agreement shall confer upon the Participant any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant's employment or service at any time, with or without Cause. No Participant or other person shall become the beneficial owner of any Shares subject to an Option, nor have any rights to dividends or other rights of a stockholder with respect to any such Shares, until a book entry has been created for the Participant or the Trustee, as applicable, with respect to such Shares following exercise of his or her Option in accordance with the provisions of the Plan and this Agreement; provided, that notwithstanding the foregoing, a Participant receiving an Option shall not have any rights to dividends with respect to any Shares earned upon satisfaction or achievement of the terms and conditions of such Option with respect to any period prior to the date upon which such a book entry is created for the Participant.

3

6.    Transferability. Except as otherwise provided in Sections 8.5 or 13.3 of the Plan or as otherwise determined at any time by the Committee and subject to the provisions of the Israeli Appendix , the Option may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than (i) by will or by the laws of descent and distribution or (ii) by gift or other transfer to any trust or estate in which the Participant or the Participant’s spouse or other immediate relative has a substantial beneficial interest, or to a spouse or other immediate relative, provided that any such transfer is permitted subject to Rule 16b-3 issued pursuant to the Exchange Act as in effect when such transfer occurs and the Board does not rescind this provision prior to such transfer; provided that the Committee may permit further transferability, on a general or a specific basis, and may impose conditions and limitations on any permitted transferability, subject to Section 13.1 of the Plan; provided further, however, that the Option may not be transferred for value or other consideration without first obtaining approval thereof by the stockholders of the Company and the Option shall not be transferable pursuant to a domestic relations order or similar order. Further, except as otherwise determined at any time by the Committee, or unless the Committee decides to permit further transferability, subject to Section 13.1 of the Plan and the terms of the Israeli Appendix, the Option shall be exercisable during the Participant’s lifetime only by the Participant.
7.    Change in Control. The terms of the Plan will govern the Option in the event of a Change in Control.
8.    Adjustments. The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan and subject to the terms of the Israeli Appendix.
9.    Tax Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting, exercise or release from trust of the Option or the subsequent sale or release from trust of any shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant's liability for Tax-Related Items.
10.    Status of the Option.
10.1    The Option is being issued under Section 102(b) of the ITO as a 102 Capital Gains Track Grant.
10.2    The Option shall be deposited with the Trustee on the Participant's behalf, under the provisions of the 102 Capital Gains Track and will be held by the Trustee for the benefit of the Participant for at least the Required Holding Period. For the avoidance of doubt, the delivery of the Option to the Trustee shall be considered as the fulfillment of the Company's obligation to deliver the Option to the Participant.
10.3    The Trustee will not release the Option and/or the underlying shares to the Participant before the satisfaction of the applicable tax obligations of the Participant in accordance with Section 102.

4

10.4    The Participant undertakes not to make any transaction or take any action with respect to the Option and/or underlying shares nor sell, transfer, assign, pledge, encumber, or otherwise willfully hypothecate or dispose of, and give no power of attorney or deed of transfer, whether for immediate or future use (together, hereinafter “Transfer”) in respect to the Option and/or underlying shares prior to the expiration of the Required Holding Period.
10.5    At the earlier of the time the Option or the underlying shares are sold or withdrawn from the Trustee, the Trustee, the Company or an Affiliate shall be entitled to withhold from the payroll and any other amounts payable to the Participant any sums required to satisfy the withholding obligations of the Company, the Trustee and/or an Affiliate, if any, which arise in connection with such withdrawal or sale.
11.    Non-competition and Non-solicitation.
11.1    Non-competition and Non-solicitation Restrictions. In consideration of the Option, the Participant agrees and covenants not to:
(a)    contribute his or her knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant, agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar business as the Company and its Affiliates, including those engaged in a Competing Business (as defined in the EndoChoice Employee Covenants Agreement) during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination;
(b)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination; or
(c)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Participant's Termination.
11.2    Enforcement of Non-competition and Non-solicitation Restrictions. In the event of a breach or threatened breach by the Participant of any of the covenants contained in Section 10.1:
(a)    any unvested portion of the Option shall be forfeited effective as of the date of such breach, unless sooner terminated by operation of another term or condition of this Agreement or the Plan; and

5

(b)    the Participant hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
12.    Participant Acknowledgements. The Participant hereby acknowledges and agrees as follows:
(c)    The Participant understands the provisions of Section 102 and the applicable tax track of this grant;
(d)    The Participant agrees to the terms and conditions of the Trust Agreement;
(e)    The Company has made no warranties or representations to the Participant with respect to the tax consequences related to the Restricted Stock. The Participant understands that this grant of Option under the 102 Capital Gains track is conditioned upon the receipt of all requisite approvals from the ITA; and
(f)    All tax consequences under any applicable law which may arise in connection with the grant or exercise of the Option, from the release from trust of the Option or the underlying shares or from the sale of the underlying shares by or on behalf of the Participant, shall be borne solely by the Participant. The Participant shall indemnify the Company, its Affiliate or the Trustee, as the case may be, and hold them harmless, against and from any liability for any such tax or any penalty, interest or indexing.
13.    Compliance with Law. The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.
14.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company's principal corporate offices. Any notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
15.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware in the United States without regard to conflict of law principles.

6

16.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.
17.    Options Subject to Plan. This Agreement is subject to the Plan as approved by the Company's shareholders and the Israeli Appendix. The terms and provisions of the Plan and the Israeli Appendix as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan or the Israeli Appendix, the applicable terms and provisions of the Plan or the Israeli Appendix will govern and prevail.
18.    Application of Israeli Tax Law. This Agreement shall conform with and be interpreted so as to comply with, Section 102 and the rules, regulations, orders or procedures promulgated thereunder, as may be amended from time to time, and any written approvals from the ITA.
19.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom this Agreement may be transferred by will or the laws of descent or distribution.
20.    Severability. The invalidity or unenforceability of any provision of the Plan or the Israeli Appendix or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or the Israeli Appendix or this Agreement, and each provision of the Plan, the Israeli Appendix and this Agreement shall be severable and enforceable to the extent permitted by law.
21.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment with the Company.
22.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Participant under this Agreement without the Participant’s consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan and the Israeli Appendix.
23.    No Impact on Other Benefits. The value of the Participant's Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

7

24.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Participant consents to (a) receive any documents related to his or her current or future participation in the Plan, including this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
25.    Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan, the Israeli Appendix and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan, the Israeli Appendix and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option, release from trust of the Option or underlying shares or disposition of the underlying shares and that the Participant should consult a tax advisor prior to such exercise or disposition.
26.    Transfer of Data. The Participant authorizes the Company and its Affiliates to furnish the Company and/or any third party with such personal information and data as may be required to implement this Agreement and the Plan, including the Israeli Appendix.

8


ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
Nonqualified Stock Option Agreement
This Nonqualified Stock Option Agreement (this “Agreement”) is made and entered into as of ________________ and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and ________________ (the “Participant”).
Grant Date:
________________
Exercise Price per Share:
________________
Total Shares of Stock Subject to Option:
________________
Expiration Date:
________________
1.Grant of Option.
1.1    Grant; Type of Option. The Company hereby grants to the Participant an option (the “Option”) to purchase the total number of shares of Common Stock of the Company, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”). The Option is intended to be a Nonqualified Stock Option and not an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code.
1.2    Consideration; Subject to Plan. The grant of the Option is made in consideration of the services to be rendered by the Participant to the Company or its Affiliates and is subject to the terms and conditions of the Plan. Capitalized terms used but not defined herein will have the meaning ascribed to them in the Plan.
2.    Exercise Period; Vesting.
2.1    Vesting Schedule. The Option will become vested and exercisable with respect to ________________ shares per the following vesting schedule until the Option is 100% vested. Except as provided in this Agreement, the unvested portion of the Option will not be exercisable on or after the Participant’s Termination.
Vesting Date
Number of Stock Options That Vest
________________
________________
________________
________________
2.2    Expiration. The Option will expire on the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.
3.    Termination of Employment or Service. The Participant’s Option shall be forfeited upon his or her Termination of employment or service, except as set forth below:
3.1    Termination for Reasons Other Than Cause, Death, Disability or Retirement. Upon a Participant’s Termination for any reason other than death, Disability, Retirement or for Cause, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the ninetieth (90th) day following such Termination and (b) the Expiration Date.

1

3.2    Termination for Cause. Upon a Participant’s Termination for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be exercisable.
3.3    Termination Due to Disability. Upon a Participant’s Termination by reason of Disability, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of such Termination and (b) the Expiration Date.
3.4    Termination Due to Death. Upon the Participant’s Termination by reason of death, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
3.5    Termination Due to Retirement. Upon a Participant’s Termination by reason of Retirement, any Option held by such Participant that was vested and exercisable immediately before such Termination may be exercised at any time until the earlier of (a) the fifth (5th) anniversary of such Termination and (b) the Expiration Date. For purposes of this Agreement, Retirement shall be mean a Participant’s Termination after either (a) the attainment of age 55 with 10 years of service, or (b) the attainment of age 65.
3.6    Death after Termination. Notwithstanding the above provisions of this Section 3, if a Participant dies after such Participant’s Termination, but while his or her Option remains exercisable as set forth above, such Option may be exercised at any time until the earlier of (a) the first anniversary of the date of such death and (b) the Expiration Date.
4.    Manner of Exercise.
4.1    Election to Exercise. To exercise the Option, the Participant (or in the case of exercise after the Participant's death or incapacity, the Participant's executor, administrator, heir or legatee, as the case may be) must deliver to the Company a written notice of intent to exercise in the form specified or accepted by the Committee (or by complying with any alternative exercise procedures that may be authorized by the Committee), setting forth the number of Shares with respect to which the Option is to be exercised. If someone other than the Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option.
4.2    Payment of Exercise Price. The entire Exercise Price of the Option shall be payable to the Company in full (which payment shall include applicable taxes, if any, in accordance with Article XVII of the Plan) at the time of exercise, by certified or bank check or such other instrument as the Committee may accept. If approved by the Committee, and subject to any such terms, conditions and limitations as the Committee may prescribe and to the extent permitted by applicable law, payment of the Option Price, in full or in part, may also be made in one or more of the manners permitted by Section 6.6 of the Plan.
4.3    Withholding. The Company or any Subsidiary or Affiliate is authorized to withhold from any Award granted or payment due under the Plan and/or from any other compensation payable to the Participant the amount of all federal, state, local and non-United States taxes due in respect of such Award or payment or in respect of any acquisition of shares of Common Stock under the Plan or a sale of such shares and take any such other action as may be necessary or appropriate, as determined by the Committee, to satisfy all obligations for the payment of such taxes. No later than the date as of which an amount first becomes includible in the gross income or wages of a Participant for federal, state, local, or non-U.S. tax purposes with respect to any Award, such Participant shall pay to the Company or to any Subsidiary or Affiliate, or make arrangements satisfactory to the Committee regarding the payment of, any federal, state, local or non-U.S. taxes or social security (or similar) contributions of any kind required by law to be withheld with respect to such amount, in accordance with Article XVII of the Plan.

2

4.4    Issuance of Shares. Subject to any governing rules or regulations, as soon as practicable after receipt of a written notification of exercise and full payment in accordance with the preceding provisions of this Section 4 and Section 6.6 of the Plan and satisfaction of tax obligations in accordance with Article XVII of the Plan, the Company shall deliver to the Participant exercising an Option, in the Participant’s name, evidence of book entry Shares, in an appropriate amount based upon the number of Shares purchased under the Option, subject to Section 20.9 of the Plan.
5.    No Right to Continued Service; No Rights as Shareholder. Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Participant's employment or service at any time, with or without Cause. No Participant or other person shall become the beneficial owner of any Shares subject to an Option, nor have any rights to dividends or other rights of a stockholder with respect to any such Shares, until a book entry has been created for the Participant with respect to such Shares following exercise of his or her Option in accordance with the provisions of the Plan and this Agreement; provided, that notwithstanding the foregoing, a Participant receiving an Option shall not have any rights to dividends with respect to any Shares earned upon satisfaction or achievement of the terms and conditions of such Option with respect to any period prior to the date upon which such a book entry is created for the Participant.
6.    Nature of Grant.  In accepting this Option, Participant acknowledges, understands and agrees that:
6.1    The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;
6.2    This Option is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of Options, or benefits in lieu of Options, even if Options have been granted in the past;
6.3    All decisions with respect to future Options or other grants, if any, will be at the sole discretion of the Company;
6.4    This Option and Participant’s involvement in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company and shall not interfere with the ability of the EndoChoice GmbH (the “Employer”) to terminate Participant’s employment or service relationship, if any;
6.5    The Participant is voluntarily participating in the Plan;
6.6    This Option and the shares of Common Stock subject to this Option, and the income and value of same, are not intended to replace any pension rights or compensation;
6.7    This Option and the shares of Common Stock subject to this Option, and the income and value of same, are not part of normal or expected compensation for any purpose, including for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;
6.8    The future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty;

3

6.9    No claim or entitlement to compensation or damages shall arise from forfeiture of this Option award resulting from the termination of Participant’s employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment agreement, if any) and in consideration of the grant of this Option to which the Participant is otherwise not entitled, the Participant irrevocably agrees never to institute any claim against the Company or any Affiliate, waives his or her ability, if any, to bring any such claim, and releases the Company and its Affiliates from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, the Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim;
6.10    For purposes of this Option, Participant’s employment or service relationship will be considered terminated as of the date Participant is no longer actively providing services to the Company or the Employer, the Employer or any of the other subsidiaries or affiliates of the Company (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment agreement, if any), and unless otherwise expressly provided in this Agreement or determined by the Company, Participant’s right to vest in the Options under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant’s employment agreement, if any); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing services for purposes of this Option grant (including whether Participant may still be considered to be providing services while on a leave of absence);
6.11     Unless otherwise agreed with the Company, the Options and the shares of Common Stock subject to the Options, and the income and value of same, are not granted as consideration for, or in connection with, the service Participant may provide as a director of a subsidiary of the Company; and
6.12    Neither the Company, the Employer nor any other subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the Options or of any amounts due to Participant pursuant to the settlement of the Option or the subsequent sale of any shares of Common Stock acquired upon settlement.
7.    Transferability. Except as otherwise provided in Sections 8.5 or 13.3 of the Plan or as otherwise determined at any time by the Committee, the Option may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than (i) by will or by the laws of descent and distribution or (ii) by gift or other transfer to any trust or estate in which the Participant or the Participant’s spouse or other immediate relative has a substantial beneficial interest, or to a spouse or other immediate relative, provided that any such transfer is permitted subject to Rule 16b-3 issued pursuant to the Exchange Act as in effect when such transfer occurs and the Board does not rescind this provision prior to such transfer; provided that the Committee may permit further transferability, on a general or a specific basis, and may impose conditions and limitations on any permitted transferability, subject to Section 13.1 of the Plan; provided further, however, that the Option may not be transferred for value or other consideration without first obtaining approval thereof by the stockholders of the Company and the Option shall not be transferable pursuant to a domestic relations order or similar order. Further, except as otherwise determined at any time by the Committee, or unless the Committee decides to permit further transferability, subject to Section 13.1 of the Plan, the Option shall be exercisable during the Participant’s lifetime only by the Participant.
8.    Change in Control. The terms of the Plan will govern the Option in the event of a Change in Control.
9.    Adjustments. The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan.

4

10.    Tax Liability and Withholding. Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting, or exercise of the Option or the subsequent sale of any shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Participant's liability for Tax-Related Items.
11.    Non-solicitation.
11.1    Non-solicitation Restrictions. In consideration of the Option, the Participant agrees and covenants not to:
(a)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates for a period of eighteen (18) months following the Participant's Termination; or
(b)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates for a period of eighteen (18) months following the Participant's Termination.
11.2    Enforcement of Non-Solicitation Restrictions. In the event of a breach or threatened breach by the Participant of any of the covenants contained in Section 11.1:
(a)    any unvested portion of the Option shall be forfeited effective as of the date of such breach, unless sooner terminated by operation of another term or condition of this Agreement or the Plan; and
(b)    the Participant hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
12.    Compliance with Law. The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under no obligation to register the shares with the Securities and Exchange Commission, any state securities commission or any stock exchange to effect such compliance.
13.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company's principal corporate offices. Any notice required to be delivered to the Participant under this Agreement shall be in writing and addressed to the Participant at the Participant's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
14.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware in the United States without regard to conflict of law principles.

5

15.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.
16.    Options Subject to Plan. This Agreement is subject to the Plan as approved by the Company's shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.
17.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom this Agreement may be transferred by will or the laws of descent or distribution.
18.    Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.
19.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant's employment with the Company.
20.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Participant under this Agreement without the Participant’s consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan.
21.    No Impact on Other Benefits. The value of the Participant's Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.
22.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Participant consents to (a) receive any documents related to his or her current or future participation in the Plan, including this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
23.    Acceptance. The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement. The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

6

24.    Transfer of Data. The Participant authorizes the Company and its Affiliates to furnish the Company and/or any third party with such personal information and data as may be required to implement this Agreement and the Plan.

7


ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
Restricted Stock Unit Agreement
This Restricted Stock Unit Agreement (this “Agreement”) is made and entered into as of ___________(the “Grant Date”) by and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and ________________ (the “Grantee”).
WHEREAS, the Company has adopted the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”) pursuant to which awards of Restricted Stock Units may be granted; and
WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Restricted Stock Units provided for herein.
NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:
1.Grant of Restricted Stock Units.
1.1    Pursuant to Section 8.1 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, ___________ Restricted Stock Units (the “Restricted Stock Units”). Each Restricted Stock Unit represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.
1.2    The Restricted Stock Units shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the “Account”). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.
2.    Consideration. The grant of the Restricted Stock Units is made in consideration of the services to be rendered by the Grantee to the Company or its Affiliates.
3.    Vesting.
3.1    Except as otherwise provided herein, provided that the Grantee has not incurred a Termination as of the applicable vesting date, the Restricted Stock Units will vest and no longer be subject to any restrictions in accordance with the following schedule (the period during which restrictions apply, the “Restricted Period”):
Vesting Date
Number of Restricted Stock Units That Vest
____________
____________
____________
____________
Once vested, the Restricted Stock Units become “Vested Units.”

1

3.2    The foregoing vesting schedule notwithstanding, upon the Grantee’s Termination for any reason at any time before all of his or her Restricted Stock Units have vested, the Grantee’s unvested Restricted Stock Units shall be automatically forfeited upon such Termination and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.
3.3    The terms of the Plan will govern the Restricted Stock Units in the event of a Change in Control.
4.    Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period and until such time as the Restricted Stock Units are settled in accordance with Section 6, the Restricted Stock Units or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock Units or the rights relating thereto shall be wholly ineffective and, if any such attempt is made, the Restricted Stock Units will be forfeited by the Grantee and all of the Grantee’s rights to such units shall immediately terminate without any payment or consideration by the Company.
5.    Rights as Shareholder; Dividend Equivalents.
5.1    The Grantee shall not have any rights of a stockholder with respect to the shares of Common Stock underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the shares of Common Stock underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Stock in accordance with Section 6.
5.2    Upon and following the settlement of the Restricted Stock Units, the Grantee shall be the record owner of the shares of Common Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.    Settlement of Restricted Stock Units.
6.1    Subject to Section 9 hereof, promptly following the last day of the Restricted Period, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units, and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.
6.2    Notwithstanding Section 6.1, in accordance with Section 20.6 of the Plan, the Committee may, but is not required to, prescribe rules pursuant to which the Grantee may elect to defer settlement of the Restricted Stock Units. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.

2

If the Grantee is deemed a “specified employee” within the meaning of Section 409A of the Code, as determined by the Committee, at a time when the Grantee becomes eligible for settlement of the Restricted Stock Units upon his “separation from service” within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee’s separation from service and (b) the Grantee’s death.
6.3    To the extent that the Grantee does not vest in any Restricted Stock Units, all interest in such Restricted Stock Units shall be forfeited. The Grantee has no right or interest in any Restricted Stock Units that are forfeited.
7.    No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee’s employment or service at any time, with or without Cause.
8.    Adjustments. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the Restricted Stock Units shall be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan.
9.    Tax Liability and Withholding.
9.1    The Grantee shall be required to pay to the Company, and the Company shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Restricted Stock Units and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes in accordance with Sections 17.1 and 17.2 of the Plan.
9.2    Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee’s responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting or settlement of the Restricted Stock Units or the subsequent sale of any shares of Common Stock; and (b) does not commit to structure the Restricted Stock Units to reduce or eliminate the Grantee’s liability for Tax-Related Items.
10.    Non-competition and Non-solicitation.
10.1    In consideration of the Restricted Stock Units, the Grantee agrees and covenants not to:
(a)    contribute his or her knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant, agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar business as the Company and its Affiliates, including those engaged in a Competing Business (as defined in the EndoChoice Employee Covenants Agreement) during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee’s Termination;

3

(b)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee’s termination of Continuous Service; or
(c)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee’s termination of Continuous Service.
10.2    If the Grantee breaches any of the covenants set forth in Section 10.1:
(a)    all unvested Restricted Stock Units shall be immediately forfeited; and
(b)    the Grantee hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
11.    Compliance with Law. This Award and the issuance of transfer of shares of Common Stock in accordance with Section 6 shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company’s shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.
12.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company’s principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee’s address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
13.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware without regard to conflict of law principles.
14.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.

4

15.    Restricted Stock Units Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.
16.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee’s beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock Units may be transferred by will or the laws of descent or distribution.
17.    Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.
18.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, altered, suspended or terminated by the Board at any time, in its discretion. The grant of the Restricted Stock Units in this Agreement does not create any contractual right or other right to receive any Restricted Stock Units or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Committee and the Board. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee’s employment with, or service to, the Company or its Affiliates.
19.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Restricted Stock Units, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Grantee under this Agreement without the Grantee’s consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan.
20.    Section 409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.
21.    No Impact on Other Benefits. The value of the Grantee’s Restricted Stock Units is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

5

22.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Grantee consents to (a) receive any documents related to his or her current or future participation in the Plan, including this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
23.    Acceptance. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock Units subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting or settlement of the Restricted Stock Units or disposition of the underlying shares of Common Stock, and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or disposition.

6


ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
102 Capital Gains Track Restricted Stock Unit Agreement
This Restricted Stock Unit Agreement (this “Agreement”) is made and entered into as of ___________ (the “Grant Date”) by and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and ________________ (the “Grantee”).
WHEREAS, the Company has adopted the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”) and the Israeli Appendix thereto (the “Israeli Appendix”) pursuant to which awards of Restricted Stock Units may be granted; and
WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Restricted Stock Units provided for herein.
NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:
1.Grant of Restricted Stock Units.
1.1    Pursuant to Section 8.1 of the Plan, the Company hereby issues to the Grantee on the Grant Date a Restricted Stock Unit Award consisting of, in the aggregate, _________ shares of Common Stock of the Company (“Restricted Stock Unit(s)”), on the terms and conditions and subject to the restrictions set forth in this Agreement, the Plan and the Israeli Appendix. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan and the Israeli Appendix, as applicable.
2.    Consideration. The grant of the Restricted Stock Units is made in consideration of the services to be rendered by the Grantee as an employee to the Company or its Affiliates.
3.    Restricted Period; Vesting.
3.1    Except as otherwise provided herein, provided that the Grantee has not incurred a Termination as of the applicable vesting date, the Restricted Stock Units will vest in accordance with the following schedule:
Vesting Date
Number of Restricted Stock Units That Vest
_____________
______________________
_____________
______________________
The period over which the Restricted Stock Units vest is referred to as the "Restricted Period". Once vested, the Restricted Stock Units become "Vested Units."
3.2    The foregoing vesting schedule notwithstanding, upon the Grantee's Termination for any reason at any time before all of his or her Restricted Stock Units have vested, the Grantee's unvested Restricted Stock Units shall be automatically forfeited upon such Termination and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.

1

3.3    The terms of the Plan will govern the Restricted Stock Units in the event of a Change in Control.
4.    Restrictions. Subject to any exceptions set forth in this Agreement, the Plan or the Israeli Appendix during the Restricted Period and until such time as the Restricted Stock Units are settled in accordance with Section 6, the Restricted Stock Units or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock Units or the rights relating thereto during the Restricted Period shall be wholly ineffective and, if any such attempt is made, the Restricted Stock Units will be forfeited by the Grantee and all of the Grantee's rights to such units shall immediately terminate without any payment or consideration by the Company.
5.    Rights as Shareholder; Dividend Equivalents.
5.1    The Grantee shall not have any rights of a stockholder with respect to the shares of Common Stock underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the shares of Common Stock underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Stock in accordance with Section 6.
5.2    Upon and following the settlement of the Restricted Stock Units, the Grantee shall be the record owner of the shares of Common Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.    Settlement of Restricted Stock Units.
6.1    Subject to Section 9 hereof, promptly following the last day of the Restricted Period, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units, and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.
6.2    To the extent that the Grantee does not vest in any Restricted Stock Units in accordance with Section 3, all interest in such Restricted Stock Units shall be forfeited. The Grantee has no right or interest in any Restricted Stock Units that are forfeited.
7.    No Right to Continued Service. Neither the Plan, including the Israeli Appendix, nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan, the Israeli Appendix or this Agreement shall be construed to limit the discretion of the Company to terminate the Grantee's employment or service at any time, with or without Cause.
8.    Adjustments. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the Restricted Stock Units shall be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan.

2

9.    Tax Liability and Withholding.
9.1    The Grantee shall be required to pay to the Company, its Affiliate or the Trustee and the Company, its Affiliate and the Trustee shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan, the amount of any required withholding taxes in respect of the Restricted Stock Units and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes in accordance with Sections 17.1 and 17.2 of the Plan and the Israeli Appendix. Notwithstanding the above, any withholding of shares underlying Vested Units in accordance with the terms of this Section will only be made in accordance with written instructions of the Grantee.
9.2    Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee's responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting or settlement of the Restricted Stock Units or the subsequent sale of any shares or release from trust of the Common Stock; and (b) does not commit to structure the Restricted Stock Units to reduce or eliminate the Grantee's liability for Tax-Related Items.
10.    Status of the Restricted Stock Units.
10.1    The Restricted Stock Units are being issued under Section 102(b) of the ITO as 102 Capital Gains Track Grant.
10.2    The Restricted Stock Units, shall be issued, on the Grantee's behalf, to the Trustee under the provisions of the 102 Capital Gains Track and will be held by the Trustee for the benefit of the Grantee for at least the Required Holding Period. For the avoidance of doubt, the delivery of the Restricted Stock Units to the Trustee shall be considered as the fulfillment of the Company's obligation to deliver the Restricted Stock Units to the Grantee.
10.3    The Trustee will not release the Restricted Stock Units and/or the underlying shares to the Grantee before the satisfaction of the applicable tax obligations of the Grantee in accordance with Section 102.
10.4    The Grantee undertakes not to make any transaction or take any action with respect to the Restricted Stock Units nor sell, transfer, assign, pledge, encumber, or otherwise willfully hypothecate or dispose of, and give no power of attorney or deed of transfer, whether for immediate or future use (together, hereinafter “Transfer”) in respect to the Restricted Stock Units prior to the expiration of the Required Holding Period.
10.5    At the earlier of the time the Restricted Stock Units or the underlying shares are sold or withdrawn from the Trustee, the Trustee, the Company and an Affiliate shall be entitled to withhold from the payroll and any other amounts payable to the Grantee any sums required to satisfy the withholding obligations of the Company, the Trustee and/or an Affiliate, which arise in connection with such withdrawal or sale.
11.    Non-competition and Non-solicitation.
11.1    In consideration of the Restricted Stock Units, the Grantee agrees and covenants not to:

3

(a)    contribute his or her knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant, agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar business as the Company and its Affiliates, including those engaged in a Competing Business (as defined in the EndoChoice Employee Covenants Agreement) during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee's termination of Continuous Service;
(b)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee's termination of Continuous Service; or
(c)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates during the Restricted Period (as defined in the EndoChoice Employee Covenants Agreement) following the Grantee's termination of Continuous Service.
11.2    If the Grantee breaches any of the covenants set forth in Section 11.1:
(a)    all unvested Restricted Stock Units shall be immediately forfeited; and
(b)    the Grantee hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
12.    Grantee Acknowledgements. The Grantee hereby declares, acknowledges and agrees as follows:
(c)    The Grantee understands the provisions of Section 102 and the applicable tax track of this grant;
(d)    The Grantee agrees to the terms and conditions of the Trust Agreement;
(e)    The Company has made no warranties or representations to the Grantee with respect to the tax consequences related to the Restricted Stock Units. The Grantee understands that this grant of Restricted Stock Units under the 102 Capital Gains track is conditioned upon the receipt of all requisite approvals from the ITA;

4

(f)    All tax consequences under any applicable law which may arise from the grant of the Restricted Stock Units, from the holding of the Restricted Stock Units or sale or withdrawal from the Trustee of the Restricted Stock Units or the underlying shares by or on behalf of the Grantee, shall be borne solely by the Grantee. The Grantee shall indemnify the Company, an Affiliate or the Trustee, as the case may be, and hold them harmless, against and from any liability for any such tax or any penalty, interest or indexing.
13.    Compliance with Law. This Restricted Stock Unit award and the issuance and transfer of shares of Common Stock in accordance with Section 6 shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company's shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.
14.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company's principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee's address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
15.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware in the United States of America without regard to conflict of law principles.
16.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.
17.    Restricted Stock Units Subject to Plan. This Agreement is subject to the Plan as approved by the Company's shareholders and the Israeli Appendix. The terms and provisions of the Plan and the Israeli Appendix as either may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan or the Israeli Appendix, the applicable terms and provisions of the Plan or the Israeli Appendix will govern and prevail.
18.    Application of Israeli Tax Law. This Agreement shall be interpreted so as to comply with Section 102 and the rules, regulations, orders or procedures promulgated thereunder, as may be amended from time to time, and any written approval from the ITA.
19.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee's beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock Units may be transferred by will or the laws of descent or distribution.

5

20.    Severability. The invalidity or unenforceability of any provision of the Plan, the Israeli Appendix or this Agreement shall not affect the validity or enforceability of any other provision of the Plan, the Israeli Appendix or this Agreement, and each provision of the Plan, the Israeli Appendix and this Agreement shall be severable and enforceable to the extent permitted by law.
21.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, altered, suspended or terminated by the Board at any time, in its discretion. The grant of the Restricted Stock Units in this Agreement does not create any contractual right or other right to receive any Restricted Stock Units or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Committee and the Board. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee's employment with, or service to, the Company or its Affiliates.
22.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Restricted Stock Units, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Grantee under this Agreement without the Grantee's consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan and the Israeli Appendix.
23.    No Impact on Other Benefits. The value of the Grantee's Restricted Stock Units is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.
24.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Grantee consents to (a) receive any documents related to his or her current or future participation in the Plan, including the Israeli Appendix and this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.
25.    Acceptance. The Grantee hereby acknowledges receipt of a copy of the Plan, the Israeli Appendix and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock Units subject to all of the terms and conditions of the Plan, the Israeli Appendix and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting or settlement of the Restricted Stock Units or disposition of the underlying shares of Common Stock, and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or disposition.
26.    Transfer of Data. The Grantee authorizes the Company and its Affiliates to furnish the Company and/or any third party with such personal information and data as may be required to implement this Agreement and the Plan, including the Israeli Appendix.


6


ENDOCHOICE HOLDINGS, INC.
2015 OMNIBUS EQUITY INCENTIVE PLAN
Restricted Stock Unit Agreement
This Restricted Stock Unit Agreement (this “Agreement”) is made and entered into as of ________________ (the “Grant Date”) by and between EndoChoice Holdings, Inc., a Delaware corporation (the “Company”) and ________________ (the “Grantee”).
WHEREAS, the Company has adopted the EndoChoice Holdings, Inc. 2015 Omnibus Equity Incentive Plan (the “Plan”) pursuant to which awards of Restricted Stock Units may be granted; and
WHEREAS, the Committee has determined that it is in the best interests of the Company and its shareholders to grant the award of Restricted Stock Units provided for herein.
NOW, THEREFORE, the parties hereto, intending to be legally bound, agree as follows:
1.Grant of Restricted Stock Units.
1.1    Pursuant to Section 8.1 of the Plan, the Company hereby issues to the Grantee on the Grant Date an Award consisting of, in the aggregate, _______________ Restricted Stock Units (the “Restricted Stock Units”). Each Restricted Stock Unit represents the right to receive one share of Common Stock, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not defined herein have the meaning ascribed to them in the Plan.
1.2    The Restricted Stock Units shall be credited to a separate account maintained for the Grantee on the books and records of the Company (the “Account”). All amounts credited to the Account shall continue for all purposes to be part of the general assets of the Company.
2.    Consideration. The grant of the Restricted Stock Units is made in consideration of the services to be rendered by the Grantee to the Company or its Affiliates.
3.    Vesting.
3.1    Except as otherwise provided herein, provided that the Grantee has not incurred a Termination as of the applicable vesting date, the Restricted Stock Units will vest and no longer be subject to any restrictions in accordance with the following schedule (the period during which restrictions apply, the “Restricted Period”):
Vesting Date
Number of Restricted Stock Units That Vest
________________
________________
________________
________________
Once vested, the Restricted Stock Units become “Vested Units.”
3.2    The foregoing vesting schedule notwithstanding, upon the Grantee’s Termination for any reason at any time before all of his or her Restricted Stock Units have vested, the Grantee’s unvested Restricted Stock Units shall be automatically forfeited upon such Termination and neither the Company nor any Affiliate shall have any further obligations to the Grantee under this Agreement.

1

3.3    The terms of the Plan will govern the Restricted Stock Units in the event of a Change in Control.
4.    Restrictions. Subject to any exceptions set forth in this Agreement or the Plan, during the Restricted Period and until such time as the Restricted Stock Units are settled in accordance with Section 6, the Restricted Stock Units or the rights relating thereto may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Grantee. Any attempt to assign, alienate, pledge, attach, sell or otherwise transfer or encumber the Restricted Stock Units or the rights relating thereto during the Restricted Period shall be wholly ineffective and, if any such attempt is made, the Restricted Stock Units will be forfeited by the Grantee and all of the Grantee’s rights to such units shall immediately terminate without any payment or consideration by the Company.
5.    Rights as Shareholder; Dividend Equivalents.
5.1    The Grantee shall not have any rights of a stockholder with respect to the shares of Common Stock underlying the Restricted Stock Units (including, without limitation, any voting rights or any right to dividends paid with respect to the shares of Common Stock underlying the Restricted Stock Units) unless and until the Restricted Stock Units vest and are settled by the issuance of such shares of Common Stock in accordance with Section 6.
5.2    Upon and following the settlement of the Restricted Stock Units, the Grantee shall be the record owner of the shares of Common Stock underlying the Restricted Stock Units unless and until such shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a shareholder of the Company (including voting rights).
6.    Settlement of Restricted Stock Units.
6.1    Subject to Section 10 hereof, promptly following the last day of the Restricted Period, and in any event no later than March 15 of the calendar year following the calendar year in which such vesting occurs, the Company shall (a) issue and deliver to the Grantee the number of shares of Common Stock equal to the number of Vested Units, and (b) enter the Grantee’s name on the books of the Company as the shareholder of record with respect to the shares of Common Stock delivered to the Grantee.
6.2    Notwithstanding Section 6.1, in accordance with Section 20.6 of the Plan, the Committee may, but is not required to, prescribe rules pursuant to which the Grantee may elect to defer settlement of the Restricted Stock Units. Any deferral election must be made in compliance with such rules and procedures as the Committee deems advisable.
If the Grantee is deemed a “specified employee” within the meaning of Section 409A of the Code, as determined by the Committee, at a time when the Grantee becomes eligible for settlement of the Restricted Stock Units upon his “separation from service” within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section 409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following the Grantee’s separation from service and (b) the Grantee’s death.
6.3    To the extent that the Grantee does not vest in any Restricted Stock Units, all interest in such Restricted Stock Units shall be forfeited. The Grantee has no right or interest in any Restricted Stock Units that are forfeited.

2

7.    No Right to Continued Service. Neither the Plan nor this Agreement shall confer upon the Grantee any right to be retained in any position, as an Employee, Independent Contractor, Consultant or Director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company and its Affiliates to terminate the Grantee’s employment or service at any time, with or without Cause.
8.    Nature of Grant. In accepting this Restricted Stock Unit award, Grantee acknowledges, understands and agrees that:
8.1    The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan;
8.2    This Restricted Stock Unit award is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past;
8.3    All decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion of the Company;
8.4    This Restricted Stock Unit award and Grantee’s involvement in the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company and shall not interfere with the ability of the EndoChoice GmbH (the “Employer”) to terminate Grantee’s employment or service relationship, if any;
8.5    The Participant is voluntarily participating in the Plan;
8.6    This Restricted Stock Unit and the shares of Common Stock subject to this Restricted Stock Unit, and the income and value of same, are not intended to replace any pension rights or compensation;
8.7    This Restricted Stock Unit and the shares of Common Stock subject to this Restricted Stock Unit, and the income and value of same, are not part of normal or expected compensation for any purpose, including for purposes of calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;
8.8    The future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty;
8.9    No claim or entitlement to compensation or damages shall arise from forfeiture of this Restricted Stock Unit award resulting from the termination of Grantee’s employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Grantee is employed or the terms of Grantee’s employment agreement, if any), and in consideration of the grant of this Restricted Stock Unit to which the Grantee is otherwise not entitled, the Grantee irrevocably agrees never to institute any claim against the Company or any Affiliate, waives his or her ability, if any, to bring any such claim, and releases the Company and its Affiliates from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, the Grantee shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim;

3

8.10    For purposes of this Restricted Stock Unit, Grantee’s employment or service relationship will be considered terminated as of the date Grantee is no longer actively providing services to the Company or the Employer, the Employer or any of the other subsidiaries or Affiliates of the Company (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Grantee is employed or the terms of Grantee’s employment agreement, if any), and unless otherwise expressly provided in this Agreement or determined by the Company, Grantee’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., Grantee’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Grantee is employed or the terms of Grantee’s employment agreement, if any); the Administrator shall have the exclusive discretion to determine when Grantee is no longer actively providing services for purposes of this Restricted Stock Unit grant (including whether Grantee may still be considered to be providing services while on a leave of absence);
8.11     Unless otherwise agreed with the Company, the Restricted Stock Units and the shares of Common Stock subject to the Restricted Stock Units, and the income and value of same, are not granted as consideration for, or in connection with, the service Grantee may provide as a director of a subsidiary of the Company; and
8.12    Neither the Company, the Employer nor any other subsidiary or Affiliate of the Company shall be liable for any foreign exchange rate fluctuation between Grantee’s local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Grantee pursuant to the settlement of the Restricted Stock Unit or the subsequent sale of any shares of Common Stock acquired upon settlement.
9.    Adjustments. If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the Restricted Stock Units shall be adjusted or terminated in any manner as contemplated by Section 4.4 of the Plan.
10.    Tax Liability and Withholding.
10.1    The Grantee shall be required to pay to the Company or to any Subsidiary or Affiliate, and the Company or any Subsidiary or Affiliate shall have the right to deduct from any compensation paid to the Grantee pursuant to the Plan and/or from any other compensation payable to the Grantee, the amount of any required withholding taxes in respect of the Restricted Stock Units or in respect of any acquisition of shares of Common Stock under the Plan or a sale of such shares and to take all such other action as the Committee deems necessary to satisfy all obligations for the payment of such withholding taxes in accordance with Sections 17.1 and 17.2 of the Plan.
10.2    Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee’s responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in connection with the grant, vesting or settlement of the Restricted Stock Units or the subsequent sale of any shares of Common Stock; and (b) does not commit to structure the Restricted Stock Units to reduce or eliminate the Grantee’s liability for Tax-Related Items.
11.    Non-solicitation.
11.1    In consideration of the Restricted Stock Units, the Grantee agrees and covenants not to:

4

(a)    directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its Affiliates for a period of eighteen (18) months following the Grantee’s termination of Continuous Service; or
(b)    directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, and instant message), attempt to contact or meet with the current, former or prospective customers of the Company or any of its Affiliates for purposes of offering or accepting goods or services similar to or competitive with those offered by the Company or any of its Affiliates for a period of eighteen (18) months following the Grantee’s termination of Continuous Service.
11.2    If the Grantee breaches any of the covenants set forth in Section 11.1:
(a)    all unvested Restricted Stock Units shall be immediately forfeited; and
(b)    the Grantee hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to, not in lieu of, legal remedies, monetary damages or other available forms of relief.
12.    Compliance with Law. This Restricted Stock Unit award and the issuance and transfer of shares of Common Stock in accordance with Section 6 shall be subject to compliance by the Company and the Grantee with all applicable requirements of federal and state securities laws and with all applicable requirements of any stock exchange on which the Company’s shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred unless and until any then applicable requirements of state and federal laws and regulatory agencies have been fully complied with to the satisfaction of the Company and its counsel.
13.    Notices. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Committee, care of the Company, at the Company’s principal corporate offices. Any notice required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee’s address as shown in the records of the Company. Either party may designate another address in writing (or by such other method approved by the Committee) from time to time.
14.    Governing Law. This Agreement will be construed and interpreted in accordance with the laws of the State of Delaware in the United States of America without regard to conflict of law principles.
15.    Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company.
16.    Restricted Stock Units Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders. The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail.

5

17.    Successors and Assigns. The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the Grantee’s beneficiaries, executors, administrators and the person(s) to whom the Restricted Stock Units may be transferred by will or the laws of descent or distribution.
18.    Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law.
19.    Discretionary Nature of Plan. The Plan is discretionary and may be amended, altered, suspended or terminated by the Board at any time, in its discretion. The grant of the Restricted Stock Units in this Agreement does not create any contractual right or other right to receive any Restricted Stock Units or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Committee and the Board. Any amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee’s employment with, or service to, the Company or its Affiliates.
20.    Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the Restricted Stock Units, prospectively or retroactively; provided, that, no such amendment shall materially impair the previously accrued rights of the Grantee under this Agreement without the Grantee’s consent, subject to the provisions of Sections 16.1 and 16.2 of the Plan.
21.    Section 409A. This Agreement is intended to comply with Section 409A of the Code or an exemption thereunder and shall be construed and interpreted in a manner that is consistent with the requirements for avoiding additional taxes or penalties under Section 409A of the Code to the extent it may be applicable. Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A of the Code and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account of non-compliance with Section 409A of the Code.
22.    No Impact on Other Benefits. The value of the Grantee’s Restricted Stock Units is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.
23.    Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature. The Grantee consents to (a) receive any documents related to his or her current or future participation in the Plan, including this Agreement, by electronic means, (b) the use of electronic signatures or other electronic indication(s) of acceptance, and (c) participate in the Plan and/or receive any documents related to such participation through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

6

24.    Acceptance. The Grantee hereby acknowledges receipt of a copy of the Plan and this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the Restricted Stock Units subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax consequences upon the vesting or settlement of the Restricted Stock Units or disposition of the underlying shares of Common Stock, and that the Grantee has been advised to consult a tax advisor prior to such vesting, settlement or disposition.
25.    Transfer of Data. The Grantee authorizes the Company and its Affiliates to furnish the Company and/or any third party with such personal information and data as may be required to implement this Agreement and the Plan.

7







ENDOCHOICE HOLDINGS, INC.
EMPLOYEE STOCK PURCHASE PLAN
Originally Effective as of May 22, 2015, and
Amended and Restated Effective as of April 29, 2016





ENDOCHOICE HOLDINGS, INC.
AMENDED AND RESTATED
EMPLOYEE STOCK PURCHASE PLAN

ARTICLE I.    PURPOSE, SCOPE AND ADMINISTRATION OF THE PLAN
1.1    Purpose and Scope. The purpose of the EndoChoice Holdings, Inc. Employee Stock Purchase Plan, as it may be amended from time to time (the “Plan”), is to assist employees of EndoChoice Holdings, Inc., a Delaware corporation (the “Company”), and its Designated Subsidiaries in acquiring a stock ownership interest in the Company pursuant to a plan which is intended to qualify as an “employee stock purchase plan” under Section 423 of the Code and to help such employees provide for their future security and to encourage them to remain in the employment of the Company and its Subsidiaries. The Plan became effective on the “Effective Date.” Effective as of April 29, 2016, the Plan is amended and restated to increase the number of shares of Common Stock available for sale under the Plan by an additional 343,934 shares, increasing the total available shares from 126,066 to 470,000 shares of Common Stock.
ARTICLE II.     DEFINITIONS
Whenever the following terms are used in the Plan, they shall have the meaning specified below unless the context clearly indicates to the contrary. The singular pronoun shall include the plural where the context so indicates.
2.1    “Agent” means the brokerage firm, bank or other financial institution, entity or person(s), if any, engaged, retained, appointed or authorized to act as the agent of the Company or an Employee with regard to the Plan.
2.2    “Administrator” shall mean the Committee, or such individuals to which authority to provide administrative services under this Plan has been delegated under Section 7.1 hereof.
2.3    “Board” shall mean the Board of Directors of the Company.
2.4    “Code” shall mean the Internal Revenue Code of 1986, as amended.
2.5    “Committee” shall mean the Compensation Committee of the Board.
2.6    “Common Stock” shall mean the common stock of the Company.
2.7    “Company” shall have such meaning as set forth in Section 1.1 hereof.
2.8    “Compensation” of an Employee shall mean the regular straight-time earnings or base salary, bonuses and commissions paid to the Employee from the Company on each Payday as compensation for services to the Company or any Designated Subsidiary, before deduction for any salary deferral contributions made by the Employee to any tax-qualified or nonqualified deferred compensation plan, including overtime, shift differentials, vacation pay, salaried production schedule premiums, holiday pay, jury duty pay, funeral leave pay, paid time off, military pay, prior week adjustments and weekly bonus, but excluding education or tuition reimbursements, imputed income arising under any group insurance or benefit program, travel expenses, business and moving reimbursements, income received in connection with any stock options, restricted stock, restricted stock units or other compensatory equity awards and all contributions made by the Company or any Designated Subsidiary for the Employee’s benefit under any employee benefit plan now or hereafter established. Such Compensation shall be calculated before deduction of any income or employment tax withholdings, but shall be withheld from the Employee’s net income.
2.9    “Designated Subsidiary” shall mean each Subsidiary that has been designated by the Committee from time to time in its sole discretion as eligible to participate in the Plan, including any Subsidiary in existence on the Effective Date and any Subsidiary formed or acquired following the Effective Date, in accordance with Section 7.2 hereof.




2.10    “Effective Date” shall mean the effective date of the Company’s first registration statement relating to its initial public offering, as approved and adopted by the Board on May 15, 2015 and subsequently approved and adopted by the Company’s stockholders on May 22, 2015.
2.11    “Eligible Employee” shall mean an Employee who (a) who customarily works at least twenty (20) hours per week and is customarily employed for more than five (5) months in a calendar year. Notwithstanding the foregoing, the Committee may exclude from participation in the Plan as an Eligible Employee (x) any Employee that is a “highly compensated employee” of the Company or any Designated Subsidiary (within the meaning of Section 414(q) of the Code), or that is such a “highly compensated employee” (A) with compensation above a specified level, (B) who is an officer, and/or (C) is subject to the disclosure requirements of Section 16(a) of the Exchange Act, and/or (y) any Employee who is a citizen or resident of a foreign jurisdiction (without regard to whether such Employee is also a citizen of the United States or a resident alien (within the meaning of Section 7701(b)(1)(A) of the Code)) if either (i) the grant of the Option is prohibited under the laws of the jurisdiction governing such Employee, or (ii) compliance with the laws of the foreign jurisdiction would cause the Plan or the Option to violate the requirements of Section 423 of the Code; provided that any exclusion in clauses (x) and/or (y) shall be applied in an identical manner under each Offering Period to all Employees of the Company and all Designated Subsidiaries, in accordance with Treasury Regulation Section 1.423-2(e).
2.12    “Employee” shall mean any person who renders services to the Company or a Designated Subsidiary as an “employee” within the meaning of Section 3401(c) of the Code pursuant to an employment relationship with such employer. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on military leave, sick leave or other leave of absence approved by the Company or Designated Subsidiary that meets the requirements of Treasury Regulation Section 1.421-1(h)(2). Where the period of leave exceeds three (3) months, or such other period specified in Treasury Regulation Section 1.421-1(h)(2), and the individual’s right to re-employment is not guaranteed either by statute or by contract, the employment relationship shall be deemed to have terminated on the first day immediately following such three (3)-month period, or such other period specified in Treasury Regulation Section 1.421-1(h)(2).
2.13    “Enrollment Date” shall mean the first date of each Offering Period.
2.14    “Exercise Date” shall mean the last Trading Day of each Offering Period, except as provided in Section 5.2 hereof.
2.15    “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.
2.16    “Fair Market Value” shall mean, as of any date, the value of Common Stock determined as follows:
(a)If the Common Stock is (i) listed on any established securities exchange (such as the New York Stock Exchange, the NASDAQ Global Market and the NASDAQ Global Select Market), (ii) listed on any national market system or (iii) listed, quoted or traded on any automated quotation system, its Fair Market Value shall be the closing sales price for a share of Common Stock as quoted on such exchange or system for such date or, if there is no closing sales price for a share of Common Stock on the date in question, the closing sales price for a share of Stock on the last preceding date for which such quotation exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable;
(b)If the Common Stock is not listed on an established securities exchange, national market system or automated quotation system, but the Common Stock is regularly quoted by a recognized securities dealer, its Fair Market Value shall be the mean of the high bid and low asked prices for such date or, if there are no high bid and low asked prices for a share of Common Stock on such date, the high bid and low asked prices for a share of Common Stock on the last preceding date for which such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or




(c)If the Common Stock is neither listed on an established securities exchange, national market system or automated quotation system nor regularly quoted by a recognized securities dealer, its Fair Market Value shall be established by the Administrator in good faith.
(d)For purposes of the first Enrollment Date of the first Offering Period under the Plan, the Fair Market Value will be the initial price to the public set forth in the final prospectus included within the registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission for the initial public offering of the Common Stock (the “Registration Statement”).
2.17    “Grant Date” shall mean the first Trading Day of an Offering Period.
2.18    “New Exercise Date” shall have such meaning as set forth in Section 5.2(b) hereof.
2.19    “Offering Period” shall mean such period of time commencing on such date(s) as determined by the Administrator, in its sole discretion, and with respect to which Options shall be granted to Participants. The duration and timing of Offering Periods may be established or changed by the Administrator at any time, in its sole discretion; provided, that unless otherwise determined by the Administrator, each Offering Period shall be a calendar quarter in duration and the first day of each such Offering Period shall be the first Trading Day of such calendar quarter; provided, however, the first Offering Period under the Plan will not commence before the Company’s Registration Statement is declared effective by the U.S. Securities and Exchange Commission. Notwithstanding the foregoing, in no event may an Offering Period exceed twenty-seven (27) months.
2.20    “Option” shall mean the right to purchase shares of Common Stock pursuant to the Plan during each Offering Period.
2.21    “Option Price” shall mean the purchase price of a share of Common Stock hereunder as provided in Section 4.2 hereof.
2.22    “Parent” means any entity that is a parent corporation of the Company within the meaning of Section 424 of the Code and the regulations promulgated thereunder.
2.23    “Participant” shall mean any Eligible Employee who elects to participate in the Plan.
2.24    “Payday” shall mean the regular and recurring established day for payment of Compensation to an Employee of the Company or any Designated Subsidiary.
2.25    “Plan” shall have such meaning as set forth in Section 1.1 hereof.
2.26    “Plan Account” shall mean a bookkeeping account established and maintained by the Company in the name of each Participant.
2.27    “Subsidiary” shall mean any entity that is a subsidiary corporation of the Company within the meaning of Section 424 of the Code and the regulations promulgated thereunder. In addition, with respect to any sub-plans adopted under Section 7.1(d) hereof which are designed to be outside the scope of Section 423 of the Code, Subsidiary shall include any corporate or noncorporate entity in which the Company has a direct or indirect equity interest or significant business relationship.
2.28    “Trading Day” shall mean a day on which the principal securities exchange on which the Common Stock is listed is open for trading or, if the Common Stock is not listed on a securities exchange, shall mean a business day, as determined by the Administrator in good faith.
2.29    “Withdrawal Election” shall have such meaning as set forth in Section 6.1(a) hereof.




ARTICLE III.    PARTICIPATION
3.1    Eligibility.
(a)Any Eligible Employee who shall be employed by the Company or a Designated Subsidiary on a given Enrollment Date for an Offering Period shall be eligible to participate in the Plan during such Offering Period, subject to the requirements of Articles IV and V hereof, and the limitations imposed by Section 423(b) of the Code and the regulations promulgated thereunder.
(b)Notwithstanding any provision of the Plan to the contrary, no Eligible Employee shall be granted an Option under the Plan (i) to the extent that, immediately after the grant of the Option, such Eligible Employee (or any other person whose stock would be attributed to such Eligible Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary and/or hold outstanding options to purchase stock possessing 5% or more of the total combined voting power or value of all classes of the capital stock of the Company or any Parent or any Subsidiary, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (within the meaning of Section 423 of the Code) of the Company or any Parent or Subsidiary accrues (within the meaning of Section 423(b)(8) of the Code) at a rate that exceeds $25,000 of the Fair Market Value of such stock (determined at the time the option is granted) for each calendar year in which such Option is outstanding at any time, as determined in accordance with Section 423 of the Code and the regulations promulgated thereunder.
3.2    Election to Participate; Payroll Deductions.
(a)An Eligible Employee may become a Participant in the Plan only by means of payroll deduction. Each individual who is an Eligible Employee as of an Offering Period’s Enrollment Date may elect to participate in such Offering Period and the Plan by properly completing a payroll deduction authorization and submitting it to the Company, in accordance with the enrollment procedures established by the Administrator, in its sole discretion.
(b)Subject to Section 3.1(b) hereof, by submitting a payroll deduction authorization, the Eligible Employee authorizes payroll deductions in an amount (i) equal to at least one percent (1%) of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment Date, but not more than the lesser of (x) fifteen percent (15%) of the Participant’s Compensation as of each Payday of the Offering Period following the Enrollment Date or (y) $25,000 per Offering Period; and (ii) that shall be expressed as a whole number percentage. Amounts deducted from a Participant’s Compensation with respect to an Offering Period pursuant to this Section 3.2 shall be deducted each Payday through payroll deduction and credited to the Participant’s Plan Account.
(c)During an Offering Period, a Participant may decrease (to as low as zero) the amount deducted from such Participant’s Compensation only once. To make such a change, the Participant must submit a new payroll deduction authorization authorizing the new rate of payroll deductions at least ten (10) calendar days before the Exercise Date for such Offering Period. A Participant may not increase the amount deducted from such Participant’s Compensation during an Offering Period.
(d)Notwithstanding the foregoing, upon the termination of an Offering Period, each Participant in such Offering Period shall automatically participate in the immediately following Offering Period at the same payroll deduction percentage as in effect at the termination of the prior Offering Period, unless such Participant delivers to the Company a different election with respect to the successive Offering Period in accordance with Section 3.1(a) hereof, or unless such Participant becomes ineligible for participation in the Plan.




(e)No payroll deduction authorization shall become binding upon the Company until it has been accepted by the Administrator. Only the Administrator is authorized to accept payroll deduction authorizations and the actions of any person other than the Administrator (subject to the Committee’s right to delegate pursuant to Section 7.1(a) hereof) shall be of no effect. The Administrator shall have the right, in its sole discretion, to reject any payroll deduction authorization that (i) does not comply with the requirements of this Plan or the deadlines, forms or procedures developed by the Administrator or (ii) is submitted by a person who is not an Eligible Employee or whose status as Eligible Employee is suspended or revoked. Such rejection may be effected by not making payroll deductions under this Plan or, if such deductions have been made, by returning, without interest, such amounts to the person for whose benefit such deductions were made. The rejection of a payroll deduction authorization for one or more Offering Periods shall not affect the ability or right of the Administrator to accept or reject a payroll deduction authorization for any subsequent Offering Period.
ARTICLE IV.    PURCHASE OF SHARES
4.1    Grant of Option. Each Participant shall be granted an Option with respect to an Offering Period on the applicable Grant Date. Subject to adjustment in accordance with Sections 5.2 and 5.3 hereof and the limitations of Section 3.1(b) hereof, the number of shares of Common Stock subject to a Participant’s Option shall be determined by dividing (a) such Participant’s payroll deductions accumulated prior to such Exercise Date and retained in the Participant’s Plan Account on such Exercise Date by (b) the applicable Option Price; provided that in no event shall a Participant be permitted to purchase during each Offering Period more than 5,000 shares of Common Stock. The Committee may, for future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a Participant may purchase during such future Offering Periods. Each Option shall expire on the Exercise Date for the applicable Offering Period immediately after the automatic exercise of the Option in accordance with Section 4.3 hereof, unless such Option terminates earlier in accordance with Article 6 hereof.
4.2    Option Price. The “Option Price” per share of Common Stock to be paid by a Participant upon exercise of the Participant’s Option on the applicable Exercise Date for an Offering Period shall be equal to eighty five percent (85%) of the lesser of the Fair Market Value of a share of Common Stock on (a) the applicable Grant Date and (b) the applicable Exercise Date; provided that in no event shall the Option Price per share of Common Stock be less than the par value per share of the Common Stock.
4.3    Purchase of Shares.
(a)On the applicable Exercise Date for an Offering Period, each Participant shall automatically and without any action on such Participant’s part be deemed to have exercised his or her Option to purchase at the applicable per share Option Price the largest number of whole shares of Common Stock which can be purchased with the amount in the Participant’s Plan Account. Any balance less than the per share Option Price that is remaining in the Participant’s Plan Account (after exercise of such Participant’s Option) as of the Exercise Date shall be carried forward to the next Offering Period, unless the Participant has elected to withdraw from the Plan pursuant to Section 6.1 hereof or, pursuant to Section 6.2 hereof, such Participant has ceased to be an Eligible Employee. Any balance not carried forward to the next Offering Period in accordance with the prior sentence promptly shall be refunded to the applicable Participant. For the avoidance of doubt, in no event shall an amount greater than or equal to the per share Option Price as of an Exercise Date be carried forward to the next Offering Period.
(b)As soon as practicable following the applicable Exercise Date, the number of shares of Common Stock purchased by such Participant pursuant to Section 4.3(a) hereof shall be delivered (either in share certificate or book entry form), in the Company’s sole discretion, to either (i) the Participant or (ii) an account established in the Participant’s name at a stock brokerage or other financial services firm designated by the Company. If the Company is required to obtain from any commission or agency authority to issue any such shares of Common Stock, the Company shall seek to obtain such authority. Inability of the Company to obtain from any such commission or agency authority which counsel for the Company deems necessary for the lawful issuance of any such shares shall relieve the Company from liability to any Participant except to refund to the Participant such Participant’s Plan Account balance, without interest thereon.




(c)If the Company is prevented by applicable securities laws from selling stock as of any date, no purchase shall be made on such date and Options shall remain in effect unless withdrawn and the purchases shall occur as soon as practicable after the Administrator determines that restrictions preventing the sale of stock have been removed or otherwise cease to exist; provided, that such Options shall expire and may not be exercised after the expiration of the twenty-seven (27) month period starting on the Grant Date applicable to such Options.
4.4    Transferability of Rights. An Option granted under the Plan shall not be transferable, other than by will or the applicable laws of descent and distribution, and is exercisable during the Participant’s lifetime only by the Participant. No option or interest or right to the Option shall be available to pay off any debts, contracts or engagements of the Participant or his or her successors in interest or shall be subject to disposition by pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempt at disposition of the option shall have no effect.
ARTICLE V.    PROVISIONS RELATING TO COMMON STOCK
5.1    Common Stock Reserved. Subject to adjustment as provided in Section 5.2 hereof, a total of 126,066 shares of Common Stock shall be made available for sale under the Plan as of the Effective Date. The Plan was amended by the Board on February 18, 2016 (“2016 Amendment”) to increase the maximum number of shares of Common Stock made available for sale under the Plan by an additional 343,934 shares, thereby increasing the total available shares from 126,066 to a total of 470,000 shares of Common Stock, with such 2016 Amendment to become effective as of April 29, 2016, subject to approval by the Company’s stockholders. Shares of Common Stock made available for sale under the Plan may be authorized but unissued shares, treasury shares of Common Stock, or reacquired shares reserved for issuance under the Plan.
5.2    Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Corporate Transaction.
(a)Changes in Capitalization. In the event that any dividend or other distribution (whether in the form of cash, Common Stock, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities of the Company, or other change in the Company’s structure affecting the Common Stock occurs, then in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, the Committee will, in such manner as it deems equitable, adjust the number of shares and class of Common Stock that may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock covered by each outstanding option under the Plan, and the numerical limits of Sections 4.1 and 5.1 hereof.
(b)Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Offering Period then in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”), and shall terminate immediately prior to the consummation of such proposed dissolution or liquidation, unless provided otherwise by the Committee. The New Exercise Date shall be before the date of the Company’s proposed dissolution or liquidation. The Administrator shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has elected to withdraw from the Plan pursuant to Section 6.1 hereof or, pursuant to Section 6.2 hereof, such Participant has ceased to be an Eligible Employee.




(c)Corporate Transaction. In the event of the occurrence of a merger, consolidation, acquisition of property or stock, separation, reorganization or other corporate event described in Section 424 of the Code with respect to the Company, each outstanding Option shall be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, any Offering Periods then in progress shall be shortened by setting a New Exercise Date and any Offering Periods then in progress shall end on the New Exercise Date. The New Exercise Date shall be before the date of the Company’s proposed sale or merger. The Administrator shall notify each Participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the Participant’s Option has been changed to the New Exercise Date and that the Participant’s Option shall be exercised automatically on the New Exercise Date, unless prior to such date the Participant has elected to withdraw from the Plan pursuant to Section 6.1 hereof or, pursuant to Section 6.2 hereof, such Participant has ceased to be an Eligible Employee.
5.3    Insufficient Shares. If the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which Options are to be exercised would exceed the number of shares of Common Stock remaining available for sale under the Plan on such Exercise Date, the Administrator shall make a pro rata allocation of the shares of Common Stock available for issuance on such Exercise Date in as uniform a manner as shall be practicable and as the Administrator shall determine in its sole discretion to be equitable among all Participants exercising Options to purchase Common Stock on such Exercise Date, and unless additional shares are authorized for issuance under the Plan, no further Offering Periods shall take place and the Plan shall terminate pursuant to Section 7.5 hereof. If an Offering Period is so terminated, then the balance of the amount credited to the Participant’s Plan Account which has not been applied to the purchase of shares of Common Stock shall be paid to such Participant in one lump sum in cash within thirty (30) days after such Exercise Date, without any interest thereon.
5.4    Rights as Stockholders. With respect to shares of Common Stock subject to an Option, a Participant shall not be deemed to be a stockholder of the Company and shall not have any of the rights or privileges of a stockholder. A Participant shall have the rights and privileges of a stockholder of the Company when, but not until, shares of Common Stock have been deposited in the designated brokerage account following exercise of his or her Option.
ARTICLE VI.    TERMINATION OF PARTICIPATION
6.1    Cessation of Contributions; Voluntary Withdrawal.
(a)A Participant may elect to withdraw from the Plan by delivering written notice of such election to the Company in such form and at such time prior to the Exercise Date for the then-current Offering Period as may be established by the Administrator (a “Withdrawal Election”). A Participant electing to withdraw from the Plan may elect to either (i) withdraw all, but not less than all, of the funds then credited to the Participant’s Plan Account as of the date on which the Withdrawal Election is received by the Company (or its designee), in which case amounts credited to such Plan Account shall be returned to the Participant in one (1) lump-sum payment in cash within thirty (30) days after such election is received by the Company (or its designee), without any interest thereon, and the Participant shall cease to participate in the Plan and the Participant’s Option for such Offering Period shall automatically terminate. Upon receipt of a Withdrawal Election, the Participant’s payroll deduction authorization and his or her Option to purchase under the Plan shall terminate. If a Participant withdraws from the Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Article 3.
(b)A participant’s withdrawal from the Plan shall not have any effect upon his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the Participant withdraws.
(c)A Participant who ceases contributions to the Plan during any Offering Period shall not be permitted to resume contributions to the Plan during that Offering Period.




6.2    Termination of Eligibility. Upon a Participant’s ceasing to be an Eligible Employee, for any reason, such Participant’s Option for the applicable Offering Period shall automatically terminate, he or she shall be deemed to have elected to withdraw from the Plan, and such Participant’s Plan Account shall be paid to such Participant or, in the case of his or her death, to the person or persons entitled thereto pursuant to applicable law, within thirty (30) days after such cessation of being an Eligible Employee, without any interest thereon.
ARTICLE VII.    GENERAL PROVISIONS
7.1    Administration.
(a)The Plan shall be administered by the Committee, which shall be composed of members of the Board. The Committee may delegate administrative tasks under the Plan to the Administrator to assist in the administration of the Plan, including establishing and maintaining an individual securities account under the Plan for each Participant. Any person to whom the duty to perform an administrative function is delegated shall act on behalf of and shall be responsible to the Committee for such function.
(b)It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with the provisions of the Plan. The Administrator shall have the power, subject to, and within the limitations of, the express provisions of the Plan:
(i)To establish Offering Periods;
(ii)To determine when and how Options shall be granted and the provisions and terms of each Offering Period (which need not be identical);
(iii)To select Designated Subsidiaries in accordance with Section 7.2 hereof;
(iv)To develop such forms and procedures as the Administrator in its discretion deems necessary or helpful to the orderly administration of this Plan; and
(v)To construe and interpret the Plan, the terms of any Offering Period and the terms of the Options and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret, amend or revoke any such rules. The Administrator, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, any Offering Period or any Option, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effect, subject to Section 423 of the Code and the regulations promulgated thereunder.
(c)The Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding handling of participation elections, payroll deductions, payment of interest, conversion of local currency, payroll tax, withholding procedures and handling of stock certificates which vary with local requirements. In its absolute discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee or the Administrator under the Plan.
(d)The Committee may adopt sub-plans applicable to particular Designated Subsidiaries or locations, which sub-plans may be designed to be outside the scope of Section 423 of the Code. The rules of such sub-plans may take precedence over other provisions of this Plan, with the exception of Section 5.1 hereof, but unless otherwise superseded by the terms of such sub-plan, the provisions of this Plan shall govern the operation of such sub-plan.




(e)All expenses and liabilities incurred by the Administrator in connection with the administration of the Plan shall be borne by the Company. The Administrator may, with the approval of the Committee, employ attorneys, consultants, accountants, appraisers, brokers or other persons. The Committee, the Administrator, the Company and its officers and directors shall be entitled to rely upon the advice, opinions or valuations of any such persons. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon all Participants, the Company and all other interested persons. No member of the Board, the Committee or the Administrator shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or the options, and all members of the Board, the Committee and the Administrator shall be fully protected by the Company in respect to any such action, determination, or interpretation.
(f)All communications from an Eligible Employee to the Administrator under, or in connection with, this Plan shall be deemed to have been filed with the Administrator when actually received in the form specified by the Administrator at the location, or by the person, designated by the Administrator for the receipt of such communications. The Administrator, in its sole discretion, may accept or reject communications not complying with the forms and procedures developed by the Administrator.
(g)In the event that payroll deductions are made or shares of stock are purchased in error, the Administrator shall take such action as the Administrator in its absolute discretion deems necessary or appropriate to correct such error as soon as practicable after the Administrator has knowledge of the error.
7.2    Designation of Subsidiary Corporations. The Board or Committee shall designate from among the Subsidiaries, as determined from time to time, the Subsidiary or Subsidiaries that shall constitute Designated Subsidiaries. The Board or Committee may designate a Subsidiary, or terminate the designation of a Subsidiary, without the approval of the stockholders of the Company.
7.3    Reports. Individual accounts shall be maintained by the Administrator for each Participant in the Plan. Statements of Plan Accounts shall be given by the Administrator to Participants at least annually, which statements shall set forth the amounts of payroll deductions, the Option Price, the number of shares purchased and the remaining cash balance, if any.
7.4    No Right to Employment. Nothing in the Plan shall be construed to give any person (including any Participant) the right to remain in the employ of the Company, a Parent or a Subsidiary or to affect the right of the Company, any Parent or any Subsidiary to terminate the employment of any person (including any Participant) at any time, with or without cause, which right is expressly reserved.
7.5    Amendment and Termination of the Plan.
(a)The Board may, in its sole discretion, amend, suspend or terminate the Plan at any time and for any reason; provided, however, that without approval of the Company’s stockholders given within twelve (12) months before or after action by the Board, the Plan may not be amended to increase the maximum number of shares of Common Stock subject to the Plan or change the designation or class of Eligible Employees; and provided, further that without approval of the Company’s stockholders, the Plan may not be amended in any manner that would cause the Plan to no longer be an “employee stock purchase plan” within the meaning of Section 423(b) of the Code.
(b)In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, to the extent permitted under Section 423 of the Code, in its discretion and, to the extent necessary or desirable, modify or amend the Plan to reduce or eliminate such accounting consequence including, but not limited to:
(i)altering the Option Price for any Offering Period including an Offering Period underway at the time of the change in Option Price;




(ii)shortening any Offering Period so that the Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the Administrator action; and
(iii)allocating shares of Common Stock.
Such modifications or amendments shall not require stockholder approval or the consent of any Participant.
(c)If the Plan is terminated, the Administrator may elect to terminate all outstanding Offering Periods either immediately or once shares of Common Stock have been purchased on the next Exercise Date (which may, in the discretion of the Administrator, be accelerated). If any Offering Period is terminated before its scheduled expiration, all amounts that have not been used to purchase shares of Common Stock will be returned to Participants (without interest, except as otherwise required by law) as soon as administratively practicable.
7.6    Use of Funds; No Interest Paid. All funds received by the Company by reason of purchase of Common Stock under the Plan shall be included in the general funds of the Company free of any trust or other restriction and may be used for any corporate purpose to the extent permitted by applicable law. No interest shall be paid to any Participant or credited under the Plan.
7.7    Term; Approval by Stockholders. No Option may be granted during any period of suspension of the Plan or after termination of the Plan. The Plan shall be submitted for the approval of the Company’s stockholders within twelve (12) months before or after the date of the Board’s adoption of the Plan. Options may be granted prior to such stockholder approval; provided, however, that such Options shall not be exercisable prior to the time when the Plan is approved by the stockholders; provided, further that if such approval has not been obtained by the end of said twelve (12)-month period, all Options previously granted under the Plan shall thereupon terminate and be canceled and become null and void without being exercised.
7.8    Effect Upon Other Plans. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company, any Parent or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company, any Parent or any Subsidiary (a) to establish any other forms of incentives or compensation for Employees of the Company or any Parent or any Subsidiary, or (b) to grant or assume Options otherwise than under the Plan in connection with any proper corporate purpose, including, but not by way of limitation, the grant or assumption of options in connection with the acquisition, by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, firm or association.
7.9    Conformity to Securities Laws. Notwithstanding any other provision of the Plan, the Plan and the participation in the Plan by any individual who is then subject to Section 16 of the Exchange Act shall be subject to any additional limitations set forth in any applicable exemption rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, the Plan shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.
7.10    Notice of Disposition of Shares. Each Participant shall give the Company prompt written notice of any disposition or other transfer of any shares of Common Stock, acquired pursuant to the exercise of an Option, if such disposition or transfer is made (a) within two (2) years after the applicable Grant Date or (b) within one (1) year after the transfer of such shares of Common Stock to such Participant upon exercise of such Option. The Company may direct that any certificates evidencing shares acquired pursuant to the Plan refer to such requirement.
7.11    Tax Withholding. The Company or any Parent or any Subsidiary shall be entitled to require payment in cash or deduction from other compensation payable to each Participant of any sums required by federal, state or local tax law to be withheld with respect to any purchase of shares of Common Stock under the Plan or any sale of such shares.
7.12    Governing Law. The Plan and all rights and obligations thereunder shall be construed and enforced in accordance with the laws of the State of Delaware.




7.13    Notices. All notices or other communications by a participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof.
7.14    Conditions To Issuance of Shares.
(a)Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make any book entries evidencing shares of Common Stock pursuant to the exercise of an Option by a Participant, unless and until the Board or the Administrator has determined, with advice of counsel, that the issuance of such shares of Common Stock is in compliance with all applicable laws, regulations of governmental authorities and, if applicable, the requirements of any securities exchange or automated quotation system on which the shares of Common Stock are listed or traded, and the shares of Common Stock are covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board or the Administrator may require that a Participant make such reasonable covenants, agreements, and representations as the Board or the Administrator, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements.
(b)All certificates for shares of Common Stock delivered pursuant to the Plan and all shares of Common Stock issued pursuant to book entry procedures are subject to any stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with federal, state, or foreign securities or other laws, rules and regulations and the rules of any securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted, or traded. The Administrator may place legends on any certificate or book entry evidencing shares of Common Stock to reference restrictions applicable to the shares of Common Stock.
(c)The Administrator shall have the right to require any Participant to comply with any timing or other restrictions with respect to the settlement, distribution or exercise of any Option, including a window-period limitation, as may be imposed in the sole discretion of the Administrator.
(d)Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any applicable law, rule or regulation, the Company may, in lieu of delivering to any Participant certificates evidencing shares of Common Stock issued in connection with any Option, record the issuance of shares of Common Stock in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).
7.15    Equal Rights and Privileges. Except with respect to sub-plans designed to be outside the scope of Section 423 of the Code, all Eligible Employees of the Company (or of any Designated Subsidiary) shall have equal rights and privileges under this Plan to the extent required under Section 423 of the Code or the regulations promulgated thereunder so that this Plan qualifies as an “employee stock purchase plan” within the meaning of Section 423 of the Code or the regulations promulgated thereunder. Any provision of this Plan that is inconsistent with Section 423 of the Code or the regulations promulgated thereunder shall, without further act or amendment by the Company or the Board, be reformed to comply with the equal rights and privileges requirement of Section 423 of the Code or the regulations promulgated thereunder.
7.16    Limitation on Liability. Neither the Company nor any affiliate or anyone acting on the behalf of the Company or an affiliate shall be responsible in whole or in part for any act done in good faith or any good faith omission to act. Without limiting the first sentence, such entities shall not be responsible for any prices at which shares of Stock are purchased or sold, the time at which any purchase or sale is made under this Plan, or the change in value of any class of stock of the Company.
7.17    Plan Document Controls. In the event of any conflict between the provisions of this Plan and any other document or communication, this Plan shall control, and the conflicting provisions of such other document or communication shall be null and void ab initio.




7.18    Severability. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as if the illegal or invalid provision had not been included.




ISRAELI APPENDIX TO
Amended and Restated Employee Stock Purchase Plan
1.     Special Provisions for Persons who are Israeli Taxpayers
1.1    This Appendix (the “Appendix”) to the EndoChoice Holdings, Inc. Employee Stock Purchase Plan (the “Plan”) is made and entered effective as of November 30, 2015 (the “Effective Date”).
1.2    The provisions specified hereunder apply only to persons who are subject to taxation by the State of Israel with respect to the Awards (as defined below).
1.3    This Appendix applies with respect to the Options under the Plan. The purpose of this Appendix is to establish certain rules and limitations applicable to Options that may be granted under the Plan to Eligible Employees from time to time, in compliance with the securities and other applicable laws currently in force in the State of Israel. Except as otherwise provided by this Appendix, all grants made pursuant to this Appendix shall be governed by the terms of the Plan. This Appendix is applicable only to grants made after the Effective Date. This Appendix complies with, and is subject to the ITO (as defined below) and Section 102 (as defined below).
1.4    The Plan and this Appendix shall be read together. In any case of contradiction, whether explicit or implied, between the provisions of this Appendix and the Plan, the provisions of this Appendix shall govern.
2.     Definitions
Capitalized terms not otherwise defined herein shall have the meaning assigned to them in the Plan. The following additional definitions will apply to grants made pursuant to this Appendix:
“3(i) Award” means an Award that is subject to taxation pursuant to Section 3(i) of the ITO which has been granted to any person who is NOT an Eligible 102 Participant.
“102 Capital Gains Track” means the tax track set forth in Section 102(b)(2) or Section 102(b)(3) of the ITO, as the case may be.
“102 Capital Gains Track Grant” means a 102 Trustee Grant qualifying for the special tax treatment under the 102 Capital Gains Track.
“102 Earned Income Track” means the tax track set forth in Section 102(b)(1) of the ITO.
“102 Earned Income Track Grant” means a 102 Trustee Grant qualifying for the ordinary income tax treatment under the 102 Earned Income Track.
“102 Trustee Grant” means an Award granted pursuant to Section 102(b) of the ITO and held in trust by a Trustee for the benefit of the Eligible 102 Participant, and includes 102 Capital Gains Track Grants or 102 Earned Income Track Grants.
“Affiliate” means any affiliate that is an “employing company” within the meaning of Section 102(a) of the ITO.
"Award" means the right to purchase shares of Common Stock pursuant to the Plan during each Offering Period;
“Controlling Shareholder” shall have the meaning ascribed to such term in Section 32(9) of the ITO.
“Election” means the Company’s election of the type of 102 Trustee Grants (i.e., 102 Capital Gains Track or 102 Earned Income Track) that it will make, as filed with the ITA.




“Eligible 102 Participant” means an individual employed by the Company or by an Affiliate or an individual who is serving as an office holder of the Company or an Affiliate, who is not a Controlling Shareholder.
“ITA” means the Israeli Tax Authority.
“ITO” means the Israeli Income Tax Ordinance (New Version) 1961 and the rules, regulations, orders or procedures promulgated thereunder and any amendments thereto, including specifically the ITO Rules, and any ruling issued by the ITA with respect to Awards granted under this Appendix, all as may be amended from time to time.
“ITO Rules” means the Income Tax Rules (Tax Benefits in Share Issuance to Employees) 5763-2003 as may be amended from time to time.
“Non-Trustee Grant” means an Award granted to an Eligible 102 Participant pursuant to Section 102(c) of the ITO.
“Required Holding Period” means the requisite period prescribed by Section 102, or such other period as may be required by the ITA, with respect to 102 Trustee Grants, during which an Award granted by the Company and any Underlying Shares must be held by the Trustee for the benefit of the person to whom it was granted.
“Section 102” means the provisions of Section 102 of the ITO, and the rules, regulations, orders or procedures promulgated thereunder and any amendments thereto, including specifically the ITO Rules, and any ruling issued by the ITA with respect to Awards granted under this Appendix, all as may be amended from time to time.
"Shares" means shares of Common Stock of the Company.
“Trustee” means a person or entity designated by the Board of Directors or the Committee (if applicable) to serve as a trustee and approved by the ITA in accordance with the provisions of Section 102(a) of the ITO.
“Trust Agreement” means the agreement(s) between the Company and the Trustee regarding Awards granted under this Appendix, as in effect from time to time.
"Underlying Shares" means Shares issued upon the exercise of an Award.
3.     Types of Grants and Section 102 Election
3.1    Grants of Awards made pursuant to Section 102 shall be made pursuant to either (a) Section 102(b)(2) or Section 102(b)(3) of the ITO as the case may be, as 102 Capital Gains Track Grants, or (b) Section 102(b)(1) of the ITO as 102 Earned Income Track Grants. The Company’s Election regarding the type of 102 Trustee Grant shall be filed with the ITA. Once the Company has filed such Election, it may change the type of 102 Trustee Grant that it elects to make only after the lapse of at least 12 months from the end of the calendar year in which the first Award or another award was granted pursuant to the previous Election, in accordance with Section 102. The Company shall be allowed to grant only the type of 102 Trustee Grants it has elected, and such Election shall apply to all Participants who were granted 102 Trustee Grants during the period indicated herein, all in accordance with the provisions of Section 102(g) of the ITO. For the avoidance of doubt, such Election shall not prevent the Company from granting Non-Trustee Grants to Eligible 102 Participants at any time.
3.2    Eligible 102 Participants may receive only 102 Trustee Grants or Non-Trustee Grants under this Appendix. Eligible Employees who are not Eligible 102 Participants may be granted only 3(i) Awards under this Appendix.
3.3    No 102 Trustee Grants may be made effective pursuant to this Appendix before the lapse of 30 days from the date on which the requisite filings required by Section 102 have been filed with the ITA. The provision of this paragraph is subject to any ruling issued by the ITA which may provide for a different period.




3.4    The Award agreement or documents evidencing the Award granted pursuant to the Plan and this Appendix shall indicate whether the Award is a 102 Trustee Grant, a Non-Trustee Grant or a 3(i) Award; and, if the Award is a 102 Trustee Grant, whether it is a 102 Capital Gains Track Grant or a 102 Earned Income Track Grant.
4.     Terms And Conditions of 102 Trustee Grants
4.1    Each 102 Trustee Grant will be deemed granted on the date stated in a written notice by the Company, in accordance with the provisions of Section 102 and the Trust Agreement.
4.2    Each 102 Trustee Grant granted to an Eligible 102 Participant shall be deposited with and held by the Trustee and each certificate for Shares acquired pursuant to a 102 Trustee Grant shall be issued to and registered in the name of the Trustee and shall be held in trust for the benefit of the Eligible 102 Participant for the Required Holding Period. After termination of the Required Holding Period, the Trustee may release such Award and any such Shares, provided that (i) the Trustee has received an acknowledgment from the ITA that the Eligible 102 Participant has paid any applicable tax due pursuant to the ITO; or (ii) the Trustee and/or the Company and/ or an Affiliate withholds any applicable tax due pursuant to the ITO. The Trustee shall not release any 102 Trustee Grant or Shares issued thereunder and held by it prior to the full payment of the Eligible 102 Participant's applicable tax liabilities.
4.3    Each 102 Trustee Grant (whether a 102 Capital Gains Track Grant or a 102 Earned Income Track Grant, as applicable) shall be subject to the relevant terms of Section 102 and the ITO, which shall be deemed an integral part of the 102 Trustee Grant and shall prevail over any term contained in the Plan, this Appendix or any Award agreement that is not consistent therewith. Any provision of the ITO and any approvals by the ITA not expressly specified in this Appendix or any document evidencing an Award that are necessary to receive or maintain any tax benefit pursuant to Section 102 shall be binding on the Eligible 102 Participant, the Trustee, the Company and its Affiliates. The Trustee and the Eligible 102 Participant granted a 102 Trustee Grant shall comply with the ITO, and the terms and conditions of the Trust Agreement entered into between the Company and the Trustee. Further, the Eligible 102 Participant agrees to execute any and all documents which the Company an Affiliate or the Trustee may reasonably determine to be necessary in order to comply with the provision of any applicable law, and, particularly, Section 102.
4.4    During the Required Holding Period, the Eligible 102 Participant shall not require the Trustee to release or sell the Award or Underlying Shares and other securities received subsequently following any realization of rights derived from the Award or Underlying Shares (including distributions) to the Eligible 102 Participant or to a third party, unless permitted to do so by Section 102. Notwithstanding the foregoing and subject to more restrictive provisions of the Plan, the Trustee may, pursuant to a written request of the Eligible 102 Participant and subject to Section 102, release and transfer such Award, shares or other securities to the Eligible 102 Participant or to a designated third party, provided that both of the following conditions have been fulfilled prior to such transfer: (i) all taxes required to be paid upon the release and transfer of the Award, Underlying Shares or other securities have been withheld; and (ii) the Trustee has received written confirmation from the Company that all requirements for such release and transfer have been fulfilled according to terms of the Articles of Incorporation of the Company, the Plan, any applicable agreement and any applicable law. A sale or release during the Required Holding Period will result in adverse tax ramifications to the Eligible 102 Participant under Section 102 and the ITO Rules, which shall apply to and shall be borne solely by such Eligible 102 Participant.
4.5    In the event that additional rights, including bonus shares, are granted with respect to Awards which were granted as 102 Trustee Grants or Shares issued upon the exercise of such Awards, such rights shall also be subject to the provisions of this Section 4 and the Required Holding Period for such rights shall be measured from the commencement of the Required Holding Period for the Award or Share with respect to which the rights were granted. Such additional rights shall be subject to the same tax treatment applicable to the relevant Award or Share with respect to which the rights were granted. In the event of a cash distribution on an Underlying Share, the Trustee shall transfer the distribution proceeds to the Eligible 102 Participant after deduction of taxes and mandatory payments in compliance with the ITO and the applicable withholding requirements.




4.7    Notwithstanding anything to the contrary in the Plan, or the applicable Award agreement no Award qualifying as a 102 Trustee Grant or Shares issued upon the exercise of such an Award shall be substituted for payment in cash or any other form of consideration, including an Award or Share, in the absence of an express approval of the ITA in advance for such substitution.
4.8    Notwithstanding anything to the contrary in the Plan, the Shares subject to Awards granted under the Plan to Eligible 102 Participants shall be authorized and unissued shares to the exclusion of previously issued shares acquired by the Company or its Subsidiary or Affiliates.
5.     Fair Market Value
Without derogating from the provisions of the Plan and solely for the purpose of determining the tax liability pursuant to Section 102(b)(3) of the ITO, if at the date of grant the Company’s equity securities are listed on any established stock exchange or a national market system or if the Company’s equity securities will be registered for trading within ninety (90) days following the date of grant of the 102 Capital Gains Track Grant, the fair market value of the equity securities at the date of grant shall be determined in accordance with the average value of the Company’s equity securities on the thirty (30) trading days preceding the date of grant or on the thirty (30) trading days following the date of registration for trading, as the case may be.
6.     Assignability
As long as an Award or Underlying Share is held by the Trustee on behalf of the Eligible 102 Participant, all rights of the Eligible 102 Participant over the Award or the Underlying Share are personal, cannot be transferred, assigned, pledged or mortgaged voluntarily, and shall not be subject to any proxy or assignment deed whether immediately effective or effective at a future date, other than by will or operation of law, unless the applicable taxes under the ITO have been paid or withheld. If such an Award or Underlying Share has been transferred by will or by operation of law, the provisions of the ITO and Section 102 will apply with respect to the heirs or the transferees of the Eligible 102 Participant, as the case may be.
7.     Tax Consequences
7.1    Any tax consequences arising from the grant of any Award, exercise of the Award, sale or withdrawal from trust of the Underlying Shares or from any other event or act (of the Company, or its Affiliates, and the Trustee or the Eligible Employee), hereunder, shall be borne solely by the Eligible Employee. The Company, its Affiliates and the Trustee shall withhold taxes according to the requirements under the applicable laws, rules, and regulations, including withholding taxes at source. Furthermore, the Eligible Employee shall agree to indemnify the Company, its Affiliates and the Trustee and hold them harmless against and from any and all liability for any such tax or interest or penalty thereon, including without limitation, liabilities relating to the necessity to withhold, or to have withheld, any such tax from any payment made to the Eligible Employee. The Company, its Affiliates or the Trustee may make such provisions and take such steps as they may deem necessary or appropriate for the withholding of all taxes required by law to be withheld with respect to Awards granted under the Plan, the exercise thereof, or the sale or release from the Trustee of the Underlying Shares, including, but not limited, to (i) deducting the amount so required to be withheld from any other amount then or thereafter payable to an Eligible Employee, (ii) requiring an Eligible Employee to pay to the Company or any of its Affiliates the amount so required to be withheld as a condition of the issuance, delivery, distribution or release of any Underlying Share, or (iii) by causing the sale of Underlying Share held by or on behalf of an Eligible Employee to cover such liability, up to the amount required to satisfy minimum statuary withholding requirements. In addition, the Eligible Employee will be required to pay any amount which exceeds the tax to be withheld and remitted to the tax authorities, pursuant to applicable tax laws, regulations and rules.
7.2    With respect to Non-Trustee Grants, if the Eligible 102 Participant ceases to be employed by the Company or any Affiliate, the Eligible 102 Participant shall extend to the Company or its Affiliate a security or guarantee for the payment of tax due at the time of sale of the Underlying Shares to the satisfaction of the Company, all in accordance with the provisions of Section 102 of the ITO.




8.     Governing Law and Jurisdiction
Notwithstanding any other provision of the Plan, with respect to Eligible Employees subject to this Appendix, the Plan and all instruments issued thereunder or in connection therewith shall be governed by, and interpreted in accordance with, the laws of the State of Israel applicable to contracts made and to be performed therein.
9.     Securities Laws
Without derogation from any provisions of the Plan, all grants pursuant to this Appendix shall be subject to compliance with the Israeli Securities Law, 1968, and the rules and regulations promulgated thereunder.
* * * * * * *





CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002
I, Mark G. Gilreath, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of EndoChoice Holdings, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: May 4, 2016
/s/ Mark G. Gilreath
Mark G. Gilreath
Chief Executive Officer
(Principal Executive Officer)





CERTIFICATION OF CHIEF FINANCIAL OFFICER
PURSUANT TO SECTION 302 OF
THE SARBANES-OXLEY ACT OF 2002
I, David N. Gill, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q of EndoChoice Holdings, Inc.;
2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(c) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: May 4, 2016
/s/ David N. Gill
David N. Gill
President and Chief Financial Officer
(Principal Financial and Accounting Officer)




CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
In connection with the Quarterly Report of EndoChoice Holdings, Inc. (the “Company”) on Form 10-Q for the fiscal quarter ended March 31, 2016, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Mark G. Gilreath, Chief Executive Officer of the Company, and David N. Gill, President and Chief Financial Officer of the Company, respectively, do each hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and
2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: May 4, 2016
/s/ Mark G. Gilreath
Mark G. Gilreath
Chief Executive Officer
(Principal Executive Officer)
/s/ David N. Gill
David N. Gill
President and Chief Financial Officer
(Principal Financial and Accounting Officer)


v3.4.0.3
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2016
Apr. 29, 2016
Entity [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2016  
Document Fiscal Year Focus 2016  
Entity Registrant Name EndoChoice Holdings, Inc.  
Entity Central Index Key 0001623919  
Current Fiscal Year End Date --12-31  
Document Fiscal Period Focus Q1  
Entity Filer Category Non-accelerated Filer  
Entity Common Stock, Shares Outstanding   26,011,050
v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 26,985 $ 34,033
Short-term marketable securities 37,533 33,872
Receivables, net 8,902 9,880
Inventories 17,096 17,473
Prepaid expenses and other current assets 2,908 3,108
Total current assets 93,424 98,366
Long-term marketable securities 6,099 19,748
Property and equipment, net 12,463 11,523
Intangible assets, net 13,522 13,819
Goodwill 20,690 20,105
Deposits and other long-term assets 780 777
Total assets 146,978 164,338
Current liabilities:    
Accounts payable 6,141 8,434
Accrued expenses and other current liabilities 8,309 9,203
Current portion of deferred rent 118 85
Deferred revenue 696 812
Total current liabilities 15,264 18,534
Long-term debt, net of discount 42,670 42,643
Deferred rent, less current portion 759 761
Deferred income taxes 2,526 2,493
Other long-term liabilities 719 614
Total liabilities $ 61,938 $ 65,045
Commitments and contingencies (Note 11)
Stockholders’ equity:    
Preferred stock, $0.001 par value per share; 50,000,000 shares authorized; no shares issued and outstanding at March 31, 2016 and December 31, 2015 $ 0 $ 0
Common stock, $0.001 par value; 150,000,000 shares authorized; 24,982,091 shares issued and outstanding at March 31, 2016; 24,886,516 shares issued and outstanding at December 31, 2015 26 26
Additional paid-in capital 258,696 257,384
Accumulated deficit (173,611) (156,549)
Accumulated other comprehensive loss (71) (1,568)
Total stockholders’ equity 85,040 99,293
Total liabilities and stockholders’ equity $ 146,978 $ 164,338
v3.4.0.3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Mar. 31, 2016
Dec. 31, 2015
Statement of Financial Position [Abstract]    
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 150,000,000 150,000,000
Common stock, shares issued 24,982,091 24,886,516
Common stock, shares outstanding 24,982,091 24,886,516
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
v3.4.0.3
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues:    
GI equipment and supplies $ 14,414 $ 13,795
GI pathology services 4,048 2,953
Net revenues 18,462 16,748
Cost of revenues:    
GI equipment and supplies 12,397 10,026
GI pathology services 1,536 1,143
Cost of revenues 13,933 11,169
Gross profit 4,529 5,579
Operating expenses:    
Research and development 4,023 4,683
Sales and marketing 9,609 8,243
General and administrative 6,324 4,417
Amortization of intangible assets 682 687
Operating expenses 20,638 18,030
Operating loss (16,109) (12,451)
Other income (expense):    
Other income (expense) 164 (1,033)
Interest expense (1,147) (1,591)
Total other expense (983) (2,624)
Net loss before income taxes (17,092) (15,075)
Income tax benefit (expense) 30 (199)
Net loss (17,062) (15,274)
Other comprehensive income (loss):    
Foreign currency translation adjustments 1,382 (740)
Change in fair value of available-for-sale securities 115 0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 1,497 (740)
Comprehensive loss $ (15,565) $ (16,014)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share) $ (0.68) $ (1.00)
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic and diluted 24,957,002 15,318,390
v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (17,062) $ (15,274)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 2,333 2,102
Loss on disposal of property and equipment 5 0
Non-cash interest expense and discount amortization 93 181
Amortization of premium on marketable securities, net 177 0
Change in fair value of warrant liability 0 28
Provision for doubtful accounts 335 277
Unrealized foreign currency (gain) loss (198) 972
Deferred income taxes (41) 106
Stock-based compensation 1,337 5
Loss on impairment of property and equipment 423 912
Changes in certain working capital components and other assets and liabilities:    
Accounts receivable 727 (1,393)
Inventories 795 710
Prepaid expenses and other current assets 240 (161)
Other assets 9 51
Accounts payable, accrued expenses, and other liabilities (3,518) 1,063
Net cash used in operations (14,345) (10,421)
Cash flows from investing activities:    
Capital expenditures (2,840) (1,292)
Proceeds from maturities of marketable securities 9,925 0
Net cash provided by (used in) investing activities 7,085 (1,292)
Cash flows from financing activities:    
Proceeds from issuance of member units, net 0 31,000
Proceeds from option exercises 26 0
Net cash provided by financing activities 26 31,000
Effect of exchange rate changes on cash and cash equivalents 186 (67)
Net (decrease) increase in cash and cash equivalents (7,048) 19,220
Cash and cash equivalents, beginning of period 26,985 32,981
Cash and cash equivalents, end of period 26,985 32,981
Supplemental disclosure of cash flow information:    
Interest 1,053 1,175
Income taxes $ 35 $ 26
v3.4.0.3
Background and Basis of Presentation
 3 Months Ended
Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Background and Basis of Presentation
Background and Basis of Presentation
Description of Business
EndoChoice Holdings, Inc. and its subsidiaries ("EndoChoice", or the "Company") is a medical device company headquartered in Alpharetta, Georgia focused exclusively on designing and commercializing a platform of innovative products for gastrointestinal, or GI, caregivers. The Company offers a comprehensive range of products and services that span single use devices and infection control, pathology, and imaging technologies. Since the Company began commercial operations in 2008, it has developed an extensive line of devices and infection control products and acquired pathology and scope repair services providers.
The condensed consolidated financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying condensed consolidated financial statements, the Company has incurred losses and cash flow deficits from operations for the three months ended March 31, 2016 and 2015. The Company has financed operations to date primarily through private placements of equity securities, borrowings under debt agreements, and the issuance of common stock in the initial public offering completed in June 2015. The Company’s ability to meet its obligations in the ordinary course of business is dependent upon its ability to generate sufficient cash flow to meet its obligations and ultimately to attain profitable operations. Failure to increase sales of its products, manage discretionary expenditures, or raise additional financing, if required, may adversely impact the Company’s ability to achieve its intended business objectives.
Basis of Presentation
The accompanying unaudited condensed consolidated financial statements are presented in accordance with United States generally accepted accounting principles pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated financial statements include the accounts of EndoChoice Holdings, Inc. (formerly ECPM Holdings, LLC prior to the corporate conversion discussed below; EndoChoice Innovation Center, Ltd.; EndoChoice GmbH; and Robert S. Smith, M.D., Inc. d/b/a EndoChoice Pathology ("EC Pathology")). The Company also owns a 67% interest in EndoChoice Israel, Ltd., which had no material transactions during the three months ended March 31, 2016 or 2015. All significant intercompany transactions and balances were eliminated in consolidation.
The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2016 and the results of its operations and its cash flows for the three months ended March 31, 2016 and 2015. The condensed consolidated financial statements, including these condensed notes, exclude some of the disclosures required in annual consolidated financial statements.
The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2015 filed with the SEC on March 21, 2016.
The results for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the year ending December 31, 2016, any other interim periods, or any future year or period.
Corporate Conversion
On June 4, 2015, ECPM Holdings, LLC converted into a Delaware corporation pursuant to a statutory conversion and changed its name to EndoChoice Holdings, Inc. As a result of the corporate conversion, the holders of the different classes and series of units of ECPM Holdings, LLC became holders, in aggregate, of 17,580,918 shares of common stock and 579,869 shares of restricted stock in EndoChoice Holdings, Inc. In addition, holders of options and warrants to purchase units of ECPM Holdings, LLC received an aggregate of 339,373 options and 187,161 warrants to purchase shares of EndoChoice Holdings, Inc. common stock.
The accompanying condensed consolidated financial statements and related notes thereto have been retroactively adjusted to account for the effect of the corporate conversion for all periods presented prior to June 4, 2015.
Initial Public Offering
On June 10, 2015, the Company completed an initial public offering (the "IPO", or the "offering") of 7,302,500 shares of common stock, including 952,500 shares sold to underwriters for the exercise of their option to purchase additional shares, at an offering price of $15.00 per share. Of the 7,302,500 common shares sold in the offering, 7,052,500 shares were sold by the Company and 250,000 shares were sold by existing stockholders. The Company received net proceeds from the IPO of approximately $94,186 after deducting underwriting discounts and commissions of $7,405 and offering expenses of $4,197.
Net Loss Per Share of Common Stock
Basic and diluted net loss per share of common stock reflect the conversion of all member units of ECPM Holdings, LLC to shares of EndoChoice common stock by treating all units as if they had been converted as of the beginning of the periods presented. Basic and diluted net loss per share amounts do not give effect to potentially dilutive securities where the impact would have been anti-dilutive.
Reclassifications
Certain prior period amounts in the accompanying condensed consolidated financial statements have been reclassified to conform to the current period presentation.
v3.4.0.3
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
There have been no significant changes to the accounting policies during the three months ended March 31, 2016 as compared to the significant accounting policies described in Note 2 of the “Notes to consolidated financial statements” in the Company’s December 31, 2015 audited financial statements included in its Annual Report.
v3.4.0.3
Recent Accounting Pronouncements
 3 Months Ended
Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements
Recent Accounting Pronouncements
In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 supersedes the previous leases standard, ASC 840. The standard is effective on January 1, 2019, with early adoption permitted. The Company is in the process of evaluating the impact of this new guidance.
In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.
In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 changes the measurement principle for inventory for entities using FIFO or average cost from the lower of cost or market to lower of cost and net realizable value. ASU 2015-11 defines net realizable value as estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The standard is effective for reporting periods beginning after December 15, 2016 and interim periods within those fiscal years with early adoption permitted. ASU 2015-11 should be applied prospectively. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 will eliminate transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09, as specified in ASU 2015-14, is now effective for reporting periods beginning after December 15, 2017. Earlier adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the future adoption of this standard.
v3.4.0.3
Fair Value Measurements
 3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Fair Value Measurements
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. The Company categorizes its financial assets and liabilities into a three-level hierarchy based on the priority of the inputs to the valuation, pursuant to the Fair Value Measurements and disclosures of ASC Topic 820. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the overall fair value measurement of the instrument.
Level 1 – Quoted prices available in active markets for identical assets or liabilities as of the reporting date; 
Level 2 – Inputs other than quoted prices for identical assets or liabilities in active markets that are either directly or indirectly observable as of the reporting date; and,
Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the asset or liability. These inputs reflect management judgment about the assumptions that market participants would use in valuing the asset or liability.
As of March 31, 2016 and December 31, 2015, the Company holds a portfolio of available-for-sale marketable securities recorded at fair value on the condensed consolidated balance sheets (as discussed in Note 5). Other financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets as of March 31, 2016 and December 31, 2015 that require fair value disclosure include cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and long-term debt. The estimated fair values of these financial assets and liabilities as of March 31, 2016 and December 31, 2015 reasonably approximate their respective carrying values as reported within the condensed consolidated balance sheets.
As of March 31, 2016 and December 31, 2015, contingent liabilities for accrued earn-out consideration were categorized as Level 3 within the fair value hierarchy and were recorded at fair value on the acquisition date and are remeasured periodically based on the then assessed fair value. These liabilities are adjusted if deemed necessary and have been recorded in other long-term liabilities within the condensed consolidated balance sheets. The increases or decreases in the fair value of these contingent consideration liabilities can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measures are based on significant inputs that are not observable in the market, they are categorized as Level 3.
For the Company’s assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein and gains or losses recognized during the period:
Fair value measurements using significant unobservable inputs (level 3):
Contingent liabilities for accrued earn-out acquisition consideration
Balance as of December 31, 2015
$
393

Foreign currency translation adjustments
11

Payments
(20
)
Balance as of March 31, 2016
$
384


Within the condensed consolidated balance sheets, the current portion of contingent liabilities for accrued earn-out acquisition consideration are included in accrued expenses and other current liabilities, while the non-current portion is included in other long-term liabilities. The determination of current versus non-current is made based on the expected timing of the payments from the balance sheet date. Amounts expected to be paid within twelve months of the balance sheet date are classified as current, and amounts expected to be paid after twelve months from the balance sheet date are classified as non-current. As of March 31, 2016, $384 of contingent liabilities for accrued earn-out acquisition consideration were included in accrued expenses and other current liabilities. As of December 31, 2015, $110 and $283 of contingent liabilities for accrued earn-out acquisition consideration were included in accrued expenses and other current liabilities and other long-term liabilities, respectively.
v3.4.0.3
Marketable Securities
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities
The table below summarizes the Company’s available-for-sale marketable securities' amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as short-term marketable securities or long-term marketable securities as of March 31, 2016 (refer to Note 4 for discussion of our fair value hierarchy). The Company had total marketable securities of $53,620 as of December 31, 2015.
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Short-term Marketable Securities
 
Long-term Marketable Securities
Level 1:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
4,012

 
$
—

 
$
—

 
$
4,012

 
$
2,005

 
$
2,007

U.S. government agencies
3,619

 
—

 
—

 
3,619

 
3,619

 
—

Subtotal
7,631

 
—

 
—

 
7,631

 
5,624

 
2,007

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Corporate securities
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Subtotal
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Total
$
43,633

 
$
13

 
$
(14
)
 
$
43,632

 
$
37,533

 
$
6,099

 
 
 
 
 
 
 
 
 
 
 
 

The amortized cost and fair value of short-term and long-term marketable securities as of March 31, 2016 are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called, or prepaid.
 
Amortized Cost
 
Fair Value
Due to mature:
 
 
 
Less than one year
$
37,534

 
$
37,533

One to two years
6,099

 
6,099

Total
$
43,633

 
$
43,632

 
 
 
 

No realized gains and losses were recognized on the sale of marketable securities for any of the periods presented. As of March 31, 2016, net unrealized losses of $1, net of tax, were included in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheets. There were no transfers between Level 1 and Level 2 fair value measurements during the three months ended March 31, 2016, and there were no changes in the valuation techniques used by the Company.
v3.4.0.3
Inventories
 3 Months Ended
Mar. 31, 2016
Inventory Disclosure [Abstract]  
Inventories
Inventories
Inventories consisted of the following:
 
March 31, 2016
 
December 31, 2015
Raw materials
$
6,592

 
$
6,821

Work-in-process
3,936

 
3,113

Finished goods
6,568

 
7,539

Total inventories
$
17,096

 
$
17,473
v3.4.0.3
Property and Equipment
 3 Months Ended
Mar. 31, 2016
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
Property and equipment consisted of the following:
 
March 31, 2016
 
December 31, 2015
Furniture and fixtures
$
1,480

 
$
1,229

Leasehold improvements
2,540

 
2,244

Computers and software
3,765

 
3,245

Demonstration equipment
9,075

 
8,414

Machinery and equipment
7,190

 
6,428

Construction in progress
1,168

 
1,015

Total
25,218

 
22,575

Accumulated depreciation
(12,755
)
 
(11,052
)
Property and equipment, net
$
12,463

 
$
11,523


Depreciation expense was $1,651 and $1,415 for the three months ended March 31, 2016 and 2015, respectively. During the three months ended March 31, 2016, we recognized an impairment of $282 on demonstration equipment as the Company plans to replace this equipment with newer versions of Fuse®. During the three months ended March 31, 2015, we recognized an impairment of $912 on demonstration equipment due to the replacement of certain of this equipment with newer versions of Fuse®. The loss is recorded in sales and marketing expense in the condensed consolidated statements of operations and comprehensive loss.
v3.4.0.3
Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for amortizable intangible assets as of March 31, 2016 and December 31, 2015 are as follows:
 
March 31, 2016
 
December 31, 2015
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
$
1,742

 
$
(793
)
 
$
949

 
$
1,683

 
$
(732
)
 
$
951

Developed technology
21,082

 
(8,565
)
 
12,517

 
20,498

 
(7,687
)
 
12,811

Other intangible assets
2,262

 
(2,206
)
 
56

 
2,198

 
(2,141
)
 
57

Total amortizable intangible assets
$
25,086

 
$
(11,564
)
 
$
13,522

 
$
24,379

 
$
(10,560
)
 
$
13,819

 
 
 
 
 
 
 
 
 
 
 
 
Unamortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
20,690

 
$
—

 
$
20,690

 
$
20,105

 
$
—

 
$
20,105


The Company recorded amortization expense related to the amortizable intangible assets of $682 and $687 for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, estimated aggregate future amortization expense for the intangible assets is as follows:
Estimated amortization expenses:
 
2016 (remaining)
$
2,111

2017
2,815

2018
2,815

2019
2,815

2020
2,800

2021
166

Total
$
13,522

 
 

Changes in the carrying amount of amortizable intangible assets and goodwill for the three months ended March 31, 2016 are as follows:
Amortizable intangible assets:
 
Balance at December 31, 2015
$
13,819

Amortization
(682
)
Foreign currency translation adjustment
385

Balance at March 31, 2016
$
13,522

 
 
Goodwill:
 
Balance at December 31, 2015
20,105

Foreign currency translation adjustment
585

Balance at March 31, 2016
$
20,690

 
 
v3.4.0.3
Accrued Expenses and Other Current Liabilities
 3 Months Ended
Mar. 31, 2016
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
 
March 31, 2016
 
December 31, 2015
Payroll and employee related expenses
$
4,412

 
$
4,787

Accrued warranty costs
624

 
922

Sales and other taxes payable
184

 
320

Other accrued liabilities
3,089

 
3,174

Accrued expenses and other current liabilities
$
8,309

 
$
9,203
v3.4.0.3
Debt
 3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Debt
Debt
The Company had $42,670 and $42,643 in total debt outstanding, net of discount, as of March 31, 2016 and December 31, 2015, respectively, which is fully included in long-term debt on the accompanying condensed consolidated balance sheets. Effective June 30, 2015, the Company refinanced its outstanding debt by entering into a new term loan credit and security agreement (the "Term Loan Credit Agreement") and a new revolving loan credit and security agreement (the "Revolving Loan Credit Agreement", and together with the Term Loan Credit Agreement, the "Credit Agreements") each dated June 30, 2015 (the "Closing Date") by and among EndoChoice and certain of its subsidiaries, MidCap Financial Trust, and Silicon Valley Bank.
The Credit Agreements contain representations and covenants typical for credit arrangements of comparable size in the medical device industry, including certain financial covenants related to minimum liquidity levels and net revenues. The Credit Agreements also contain customary events of default. If an event of default occurs and is not cured within any applicable grace period or is not waived, the creditors are entitled to take various actions, including, without limitation, the acceleration of amounts due thereunder, termination of commitments under the Credit Agreements, and realization upon the collateral securing the credit facilities.
Term Loan Facility
The Term Loan Credit Agreement provides for a five-year $43,000 senior term loan facility (the "Term Loan Facility") secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. The Term Loan Facility bears interest at a fixed rate of 9.5% per year and is subject to an end of term fee of 2.95% on the $43,000 advanced under the facility on the Closing Date. Interest-only payments are due during the first 30 months of the Term Loan Facility, with principal payments beginning in January 2018 in equal monthly installments until maturity. The end of term fee is not applied to scheduled principal payments and is due only upon the earlier of repayment or maturity of the loan. The end of term fee is accrued as additional interest expense using the effective interest rate method over the term of the loan.
Revolving Credit Facility
The Revolving Loan Credit Agreement provides for a five-year $15,000 senior revolving credit facility (the "Revolving Credit Facility") also secured by a lien on substantially all of the assets of EndoChoice and its domestic subsidiaries, other than intellectual property, which is subject to a negative pledge only. Amounts drawn under the Revolving Credit Facility will bear interest at the LIBOR Rate (as defined in the Revolving Loan Credit Agreement) plus 5.25% per year, while the undrawn portion is subject to an unused line fee of 0.50% per year. No amounts were drawn or outstanding under the Revolving Credit Facility as of March 31, 2016. The Revolving Credit Facility expires on June 30, 2020.
v3.4.0.3
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies
The Company has certain minimum obligations under noncancelable operating lease agreements, principally in connection with office and warehouse space, which contain provisions for rent-free periods. The total amount of rental payments due over the lease terms are being charged to rent expense using the straight-line method over the terms of the leases. Rent expense associated with noncancelable operating leases totaled $370 and $288 for the three months ended March 31, 2016 and 2015, respectively.
Future minimum lease payments under noncancelable operating leases at March 31, 2016 are as follows:
 
Amount
Year:
 
2016 (remaining)
$
1,292

2017
1,792

2018
1,567

2019
1,534

2020
1,153

2021
1,051

Thereafter
370

Total
$
8,759
v3.4.0.3
Stock-based Compensation
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Compensation
Stock-based Compensation
Equity Incentive Plans
The Company's equity incentive plans are broad-based, long-term programs intended to attract, motivate, and retain talented non-employee directors, officers, and employees and to align their interests with stockholders. For the three months ended March 31, 2016, the Company made new grants under the following equity incentive plans:
2015 Omnibus Equity Incentive Plan
The 2015 Omnibus Equity Incentive Plan (the "2015 Plan") allows for the granting of stock options, stock appreciation rights, restricted stock awards, restricted stock units, performance unit awards, performance share awards, cash-based awards, and other stock-based awards to eligible individuals.
A total of 2,301,145 shares of our common stock are reserved for issuance under the 2015 Plan. As of March 31, 2016, 795,957 stock options, 649,067 shares of restricted stock, and 212,504 restricted stock units have been granted under the 2015 Plan. The 2015 Plan contains an “evergreen” provision allowing for an annual increase in the number of shares of our common stock available for issuance under the 2015 Plan on January 1 of each year during the period beginning January 1, 2016 and ending on (and including) January 1, 2025. The annual increase in the number of shares will be equal to four percent (4%) of the total number of shares of common stock outstanding on December 31 of the preceding calendar year; provided, however, that our board of directors is authorized to act prior to the first day of any calendar year to determine if the increase will be a lesser number of shares of common stock than would otherwise occur.
Employee Stock Purchase Plan
The Company's Employee Stock Purchase Plan ("ESPP") is designed to allow our eligible employees to purchase shares of our common stock with accumulated payroll deductions of up to 15% of eligible compensation, subject to a purchase limitation of the lesser of 5,000 shares per offering period or $25 in fair market value of shares of common stock (determined at the time the option to purchase shares under the ESPP is granted) per annual period. The current offering period under the ESPP began on January 1, 2016 and concludes on June 30, 2016.
Stock Options
Following is a summary of stock option activity for the three months ended March 31, 2016:
 
Number of Options
 
Weighted average
exercise price
 
Weighted average remaining
contractual term
Outstanding at December 31, 2015
848,400

 
$
11.10

 
7.7 years
Granted
217,244

 
5.31

 
 
Exercised
(9,523
)
 
1.15

 
 
Forfeited
(812
)
 
2.83

 
 
Outstanding at March 31, 2016
1,055,309

 
10.02

 
8.0 years
Vested and exercisable at March 31, 2016
298,895

 
$
2.83

 
 

We estimate the fair value of stock options at the grant date using the Black-Scholes-Merton option pricing model. As of March 31, 2016, there was $3,010 of total unrecognized compensation cost related to stock options. These costs are expected to be recognized over a weighted average period of 3.4 years.
Restricted Stock and Restricted Stock Units
Following is a summary of restricted stock and restricted stock units activity for the three months ended March 31, 2016:
 
Number of Restricted
Stock Shares
 
Number of Restricted Stock Units
Unvested at December 31, 2015
1,083,793

 
—

Granted
—

 
212,504

Vested
(86,052
)
 
—

Forfeited
(674
)
 
—

Unvested at March 31, 2016
997,067

 
212,504


As of March 31, 2016, total unrecognized compensation cost related to restricted stock shares was $8,103 net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 3.0 years. As of March 31, 2016, total unrecognized compensation cost related to restricted stock units was $953, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 4.0 years.
Stock-based Compensation Expense
Stock-based compensation expense is recorded within the operating expense captions in the condensed consolidated statements of comprehensive loss based on the employees receiving the awards. We recognized stock-based compensation expense as follows during the three months ended March 31, 2016 and 2015:
 
 
Three Months Ended March 31,
 
 
2016
 
2015
Cost of revenues
 
$
47

 
$
—

Research and development
 
111

 
1

Sales and marketing
 
269

 
1

General and administrative
 
910

 
3

Total
 
$
1,337

 
$
5
v3.4.0.3
Net Loss per Common Share
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Net Loss per Common Share
Net Loss per Common Share
After giving effect to the corporate conversion as described in Note 1, the following table provides a reconciliation of the numerator and denominator used in calculating basic and diluted net loss per share attributable to common stockholders for the three months ended March 31, 2016 and 2015.
 
Three Months Ended March 31,
 
2016
 
2015
Numerator:
 
 
 
Net loss attributable to common stockholders
$
(17,062
)
 
$
(15,274
)
Denominator:
 
 
 
Weighted-average common shares outstanding - basic
24,957,002

 
15,318,390

Dilutive effect of stock options, warrants, restricted stock, and restricted stock units1
—

 
—

Weighted-average common shares outstanding - diluted
24,957,002

 
15,318,390

Net loss per share attributable to common stockholders - basic and diluted
$
(0.68
)
 
$
(1.00
)
1Potentially dilutive stock options, warrants, restricted stock, and restricted stock units were excluded from the calculation of diluted weighted-average shares outstanding as they would have had an anti-dilutive effect due to losses reported during the three months ended March 31, 2016 and 2015.
The treasury stock method is used to determine the dilutive effect of the Company’s potentially dilutive securities. The following securities were excluded from the calculation of diluted shares outstanding due to their anti-dilutive effect
 
March 31, 2016
Stock options
1,055,309

Warrants for common stock
4,061

Restricted stock
997,067

Restricted stock units
212,504

Total
2,268,941
v3.4.0.3
Income Taxes
 3 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
Income taxes are determined using an estimated annual effective tax rate applied against income, which are then adjusted for the tax impacts of certain discrete items. The Company recorded income tax benefit of $30 and income tax expense of $199 during the three months ended March 31, 2016 and 2015, respectively, resulting in effective rates of 0.19% and 1.30% respectively. The Company updates its annual effective income tax rate each quarter, and if the estimated effective income tax rate changes, a cumulative adjustment is made. The low effective tax rates for the three months ended March 31, 2016 and 2015 are primarily due to full valuation allowances against certain deferred tax assets.
The Company evaluates the realizability of the deferred tax assets on a jurisdictional basis at each reporting date. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax planning strategies in making this assessment. Based on future operating results, there is a reasonable possibility that the valuation allowance against deferred tax assets in Germany could be released within the next twelve months. No liability for uncertain tax positions has been recorded as of March 31, 2016 or December 31, 2015.
v3.4.0.3
Segment, Geographical, and Customer Concentration
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Segment, Geographical, and Customer Concentration
Segment, Geographical, and Customer Concentration
The Company is globally managed as one reportable segment, which is consistent with how management reviews the business, makes investing and resource allocation decisions, and assesses operating performance. The Company’s geographic regions consist of the United States and other areas, which are referred to as international.
The following table represents net revenues by geographic area based on the location of the customer during the three months ended March 31, 2016 and 2015:
 
Three Months Ended
March 31,
 
2016
 
2015
United States
$
16,603

 
$
15,321

International
1,859

 
1,427

Total
$
18,462

 
$
16,748


For the three months ended March 31, 2016 and 2015, no customers accounted for greater than 10% of revenues. Additionally, no customers accounted for greater than 10% of accounts receivable as of March 31, 2016 or December 31, 2015.
The composition of the Company’s long-lived assets, consisting of property and equipment, amortizable intangible assets, and goodwill by geographic area is set forth below:
 
March 31, 2016
 
December 31, 2015
United States
$
8,155

 
$
7,694

Israel
32,042

 
31,694

Other Regions
6,478

 
6,059

Total
$
46,675

 
$
45,447
v3.4.0.3
Recent Accounting Pronouncements (Policies)
 3 Months Ended
Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]  
Recent Accounting Pronouncements
Recent Accounting Pronouncements
In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 supersedes the previous leases standard, ASC 840. The standard is effective on January 1, 2019, with early adoption permitted. The Company is in the process of evaluating the impact of this new guidance.
In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU 2016-01 is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.
In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. ASU 2015-11 changes the measurement principle for inventory for entities using FIFO or average cost from the lower of cost or market to lower of cost and net realizable value. ASU 2015-11 defines net realizable value as estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation. The standard is effective for reporting periods beginning after December 15, 2016 and interim periods within those fiscal years with early adoption permitted. ASU 2015-11 should be applied prospectively. The Company is currently evaluating the impact of the future adoption of this standard, but the adoption is not expected to have a material effect on the consolidated financial statements.
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 will eliminate transaction- and industry-specific revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09, as specified in ASU 2015-14, is now effective for reporting periods beginning after December 15, 2017. Earlier adoption is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is currently evaluating the impact of the future adoption of this standard.
v3.4.0.3
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements using significant unobservable inputs
For the Company’s assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3), the following table provides a reconciliation of the beginning and ending balances for each category therein and gains or losses recognized during the period:
Fair value measurements using significant unobservable inputs (level 3):
Contingent liabilities for accrued earn-out acquisition consideration
Balance as of December 31, 2015
$
393

Foreign currency translation adjustments
11

Payments
(20
)
Balance as of March 31, 2016
$
384
v3.4.0.3
Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Schedule of available-for-sale marketable securities
The table below summarizes the Company’s available-for-sale marketable securities' amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as short-term marketable securities or long-term marketable securities as of March 31, 2016 (refer to Note 4 for discussion of our fair value hierarchy). The Company had total marketable securities of $53,620 as of December 31, 2015.
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
Short-term Marketable Securities
 
Long-term Marketable Securities
Level 1:
 
 
 
 
 
 
 
 
 
 
 
U.S. Treasuries
$
4,012

 
$
—

 
$
—

 
$
4,012

 
$
2,005

 
$
2,007

U.S. government agencies
3,619

 
—

 
—

 
3,619

 
3,619

 
—

Subtotal
7,631

 
—

 
—

 
7,631

 
5,624

 
2,007

Level 2:
 
 
 
 
 
 
 
 
 
 
 
Corporate securities
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Subtotal
36,002

 
13

 
(14
)
 
36,001

 
31,909

 
4,092

Total
$
43,633

 
$
13

 
$
(14
)
 
$
43,632

 
$
37,533

 
$
6,099

 
 
 
 
 
 
 
 
 
 
 
 
Schedule of amortized cost and fair value of short-term and long-term marketable securities
The amortized cost and fair value of short-term and long-term marketable securities as of March 31, 2016 are shown below by contractual maturity. Actual maturities may differ from contractual maturities as securities may be restructured, called, or prepaid.
 
Amortized Cost
 
Fair Value
Due to mature:
 
 
 
Less than one year
$
37,534

 
$
37,533

One to two years
6,099

 
6,099

Total
$
43,633

 
$
43,632

 
 
 
 
v3.4.0.3
Inventories (Tables)
 3 Months Ended
Mar. 31, 2016
Inventory Disclosure [Abstract]  
Schedule of inventories
Inventories consisted of the following:
 
March 31, 2016
 
December 31, 2015
Raw materials
$
6,592

 
$
6,821

Work-in-process
3,936

 
3,113

Finished goods
6,568

 
7,539

Total inventories
$
17,096

 
$
17,473
v3.4.0.3
Property and Equipment (Tables)
 3 Months Ended
Mar. 31, 2016
Property, Plant and Equipment [Abstract]  
Schedule of property and equipment
Property and equipment consisted of the following:
 
March 31, 2016
 
December 31, 2015
Furniture and fixtures
$
1,480

 
$
1,229

Leasehold improvements
2,540

 
2,244

Computers and software
3,765

 
3,245

Demonstration equipment
9,075

 
8,414

Machinery and equipment
7,190

 
6,428

Construction in progress
1,168

 
1,015

Total
25,218

 
22,575

Accumulated depreciation
(12,755
)
 
(11,052
)
Property and equipment, net
$
12,463

 
$
11,523
v3.4.0.3
Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of intangible assets and goodwill
Changes in the carrying amount of amortizable intangible assets and goodwill for the three months ended March 31, 2016 are as follows:
Amortizable intangible assets:
 
Balance at December 31, 2015
$
13,819

Amortization
(682
)
Foreign currency translation adjustment
385

Balance at March 31, 2016
$
13,522

 
 
Goodwill:
 
Balance at December 31, 2015
20,105

Foreign currency translation adjustment
585

Balance at March 31, 2016
$
20,690

 
 
The gross carrying amount of goodwill and other intangible assets and the related accumulated amortization for amortizable intangible assets as of March 31, 2016 and December 31, 2015 are as follows:
 
March 31, 2016
 
December 31, 2015
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
 
Gross carrying
amount
 
Accumulated
amortization
 
Net carrying
value
Amortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
$
1,742

 
$
(793
)
 
$
949

 
$
1,683

 
$
(732
)
 
$
951

Developed technology
21,082

 
(8,565
)
 
12,517

 
20,498

 
(7,687
)
 
12,811

Other intangible assets
2,262

 
(2,206
)
 
56

 
2,198

 
(2,141
)
 
57

Total amortizable intangible assets
$
25,086

 
$
(11,564
)
 
$
13,522

 
$
24,379

 
$
(10,560
)
 
$
13,819

 
 
 
 
 
 
 
 
 
 
 
 
Unamortizable intangible assets:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
20,690

 
$
—

 
$
20,690

 
$
20,105

 
$
—

 
$
20,105
Schedule of finite-lived intangible assets, future amortization expense
As of March 31, 2016, estimated aggregate future amortization expense for the intangible assets is as follows:
Estimated amortization expenses:
 
2016 (remaining)
$
2,111

2017
2,815

2018
2,815

2019
2,815

2020
2,800

2021
166

Total
$
13,522

 
 
v3.4.0.3
Accrued Expenses and Other Current Liabilities (Tables)
 3 Months Ended
Mar. 31, 2016
Payables and Accruals [Abstract]  
Schedule of accrued expense and other current liabilities
Accrued expenses and other current liabilities consisted of the following:
 
March 31, 2016
 
December 31, 2015
Payroll and employee related expenses
$
4,412

 
$
4,787

Accrued warranty costs
624

 
922

Sales and other taxes payable
184

 
320

Other accrued liabilities
3,089

 
3,174

Accrued expenses and other current liabilities
$
8,309

 
$
9,203
v3.4.0.3
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
Schedule of future minimum lease payments under noncancelable operating leases
Future minimum lease payments under noncancelable operating leases at March 31, 2016 are as follows:
 
Amount
Year:
 
2016 (remaining)
$
1,292

2017
1,792

2018
1,567

2019
1,534

2020
1,153

2021
1,051

Thereafter
370

Total
$
8,759
v3.4.0.3
Stock-based Compensation (Tables)
 3 Months Ended
Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock options activity
Following is a summary of stock option activity for the three months ended March 31, 2016:
 
Number of Options
 
Weighted average
exercise price
 
Weighted average remaining
contractual term
Outstanding at December 31, 2015
848,400

 
$
11.10

 
7.7 years
Granted
217,244

 
5.31

 
 
Exercised
(9,523
)
 
1.15

 
 
Forfeited
(812
)
 
2.83

 
 
Outstanding at March 31, 2016
1,055,309

 
10.02

 
8.0 years
Vested and exercisable at March 31, 2016
298,895

 
$
2.83

 
 
Schedule of restricted stock and restricted stock units
Following is a summary of restricted stock and restricted stock units activity for the three months ended March 31, 2016:
 
Number of Restricted
Stock Shares
 
Number of Restricted Stock Units
Unvested at December 31, 2015
1,083,793

 
—

Granted
—

 
212,504

Vested
(86,052
)
 
—

Forfeited
(674
)
 
—

Unvested at March 31, 2016
997,067

 
212,504
Schedule of stock-based compensation expense
We recognized stock-based compensation expense as follows during the three months ended March 31, 2016 and 2015:
 
 
Three Months Ended March 31,
 
 
2016
 
2015
Cost of revenues
 
$
47

 
$
—

Research and development
 
111

 
1

Sales and marketing
 
269

 
1

General and administrative
 
910

 
3

Total
 
$
1,337

 
$
5
v3.4.0.3
Net Loss per Common Share (Tables)
 3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Schedule of earnings per share, basic and diluted
After giving effect to the corporate conversion as described in Note 1, the following table provides a reconciliation of the numerator and denominator used in calculating basic and diluted net loss per share attributable to common stockholders for the three months ended March 31, 2016 and 2015.
 
Three Months Ended March 31,
 
2016
 
2015
Numerator:
 
 
 
Net loss attributable to common stockholders
$
(17,062
)
 
$
(15,274
)
Denominator:
 
 
 
Weighted-average common shares outstanding - basic
24,957,002

 
15,318,390

Dilutive effect of stock options, warrants, restricted stock, and restricted stock units1
—

 
—

Weighted-average common shares outstanding - diluted
24,957,002

 
15,318,390

Net loss per share attributable to common stockholders - basic and diluted
$
(0.68
)
 
$
(1.00
)
1Potentially dilutive stock options, warrants, restricted stock, and restricted stock units were excluded from the calculation of diluted weighted-average shares outstanding as they would have had an anti-dilutive effect due to losses reported during the three months ended March 31, 2016 and 2015.
Schedule of antidilutive securities excluded from computation of earnings per share
The treasury stock method is used to determine the dilutive effect of the Company’s potentially dilutive securities. The following securities were excluded from the calculation of diluted shares outstanding due to their anti-dilutive effect
 
March 31, 2016
Stock options
1,055,309

Warrants for common stock
4,061

Restricted stock
997,067

Restricted stock units
212,504

Total
2,268,941
v3.4.0.3
Segment, Geographical, and Customer Concentration (Tables)
 3 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Schedule of net revenues by geographic area
The following table represents net revenues by geographic area based on the location of the customer during the three months ended March 31, 2016 and 2015:
 
Three Months Ended
March 31,
 
2016
 
2015
United States
$
16,603

 
$
15,321

International
1,859

 
1,427

Total
$
18,462

 
$
16,748
Schedule of long-lived assets by geographic area
The composition of the Company’s long-lived assets, consisting of property and equipment, amortizable intangible assets, and goodwill by geographic area is set forth below:
 
March 31, 2016
 
December 31, 2015
United States
$
8,155

 
$
7,694

Israel
32,042

 
31,694

Other Regions
6,478

 
6,059

Total
$
46,675

 
$
45,447
v3.4.0.3
Background and Basis of Presentation (Details) - USD ($)
$ / shares in Units, $ in Thousands
Jun. 10, 2015
Jun. 04, 2015
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Business Acquisition [Line Items]          
Aggregate number of options shareholders have (in shares)   339,373 1,055,309 848,400  
IPO          
Business Acquisition [Line Items]          
Proceeds from IPO $ 94,186        
Payment for underwriting discounts and commissions 7,405        
Offering expenses $ 4,197        
Common Stock          
Business Acquisition [Line Items]          
Shares available for conversion (in shares)   17,580,918      
Common Stock | Underwriter Option          
Business Acquisition [Line Items]          
Price of shares sold to underwriter (in usd per share) $ 15.00        
Common Stock | IPO          
Business Acquisition [Line Items]          
IPO shares (in shares) 7,302,500        
Shares issued in IPO (in shares) 7,052,500        
Shares sold in the IPO by existing stockholders (in shares) 250,000        
Common Stock | Over-Allotment Option          
Business Acquisition [Line Items]          
IPO shares (in shares) 952,500        
Restricted stock          
Business Acquisition [Line Items]          
Shares available for conversion (in shares)   579,869      
Warrants for common stock          
Business Acquisition [Line Items]          
Aggregate amount of convertible securities (in shares)   187,161      
EndoChoice Israel, Ltd.          
Business Acquisition [Line Items]          
Ownership interest percentage (in shares)     67.00%   67.00%
v3.4.0.3
Fair Value Measurements - Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Details) - Contingent liabilities for accrued earn-out acquisition consideration
$ in Thousands
 3 Months Ended
Mar. 31, 2016
USD ($)
Fair value measurements using significant unobservable inputs (level 3):  
Beginning balance $ 393
Foreign currency translation adjustments 11
Payments (20)
Ending balance $ 384
v3.4.0.3
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Accrued Expenses and Other Current Liabilities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Amount of contingent liabilities $ 384 $ 110
Other Long-term Liabilities    
Fair Value Inputs, Assets, Quantitative Information [Line Items]    
Amount of contingent liabilities   $ 283
v3.4.0.3
Marketable Securities - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]    
Marketable securities $ 43,632 $ 53,620
Net unrealized losses $ 1  
v3.4.0.3
Marketable Securities - Schedule of Available-for-Sale Marketable Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost $ 43,633  
Gross Unrealized Gains 13  
Gross Unrealized Losses (14)  
Fair Value 43,632 $ 53,620
Short-term Marketable Securities 37,533  
Long-term Marketable Securities 6,099  
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost 7,631  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Fair Value 7,631  
Short-term Marketable Securities 5,624  
Long-term Marketable Securities 2,007  
Level 1 | U.S. Treasuries    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost 4,012  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Fair Value 4,012  
Short-term Marketable Securities 2,005  
Long-term Marketable Securities 2,007  
Level 1 | U.S. government agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost 3,619  
Gross Unrealized Gains 0  
Gross Unrealized Losses 0  
Fair Value 3,619  
Short-term Marketable Securities 3,619  
Long-term Marketable Securities 0  
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost 36,002  
Gross Unrealized Gains 13  
Gross Unrealized Losses (14)  
Fair Value 36,001  
Short-term Marketable Securities 31,909  
Long-term Marketable Securities 4,092  
Level 2 | Corporate securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Amortized Cost 36,002  
Gross Unrealized Gains 13  
Gross Unrealized Losses (14)  
Fair Value 36,001  
Short-term Marketable Securities 31,909  
Long-term Marketable Securities $ 4,092  
v3.4.0.3
Marketable Securities - Schedule of Amortized Cost and Fair Value of Short-term and Long-term Marketable Securities (Details)
$ in Thousands
Mar. 31, 2016
USD ($)
Amortized Cost  
Less than one year $ 37,534
Less than one year 6,099
Total 43,633
Fair Value  
Less than one year 37,533
Total 6,099
Total $ 43,632
v3.4.0.3
Inventories (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Inventory Disclosure [Abstract]    
Raw materials $ 6,592 $ 6,821
Work-in-process 3,936 3,113
Finished goods 6,568 7,539
Inventory, Net $ 17,096 $ 17,473
v3.4.0.3
Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Property, Plant and Equipment [Line Items]    
Total $ 25,218 $ 22,575
Accumulated depreciation (12,755) (11,052)
Property and equipment, net 12,463 11,523
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total 1,480 1,229
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total 2,540 2,244
Computers and software    
Property, Plant and Equipment [Line Items]    
Total 3,765 3,245
Demonstration equipment    
Property, Plant and Equipment [Line Items]    
Total 9,075 8,414
Machinery and equipment    
Property, Plant and Equipment [Line Items]    
Total 7,190 6,428
Construction in progress    
Property, Plant and Equipment [Line Items]    
Total $ 1,168 $ 1,015
v3.4.0.3
Property and Equipment - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Property, Plant and Equipment [Line Items]    
Depreciation expense $ 1,651 $ 1,415
Impairment 423 912
Demonstration Equipment    
Property, Plant and Equipment [Line Items]    
Impairment $ 282 $ 912
v3.4.0.3
Goodwill and Other Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Amortizable intangible assets:    
Gross carrying amount $ 25,086 $ 24,379
Accumulated amortization (11,564) (10,560)
Net carrying value 13,522 13,819
Unamortizable intangible assets:    
Gross carrying amount 20,690 20,105
Accumulated amortization 0 0
Net carrying value 20,690 20,105
Customer relationships    
Amortizable intangible assets:    
Gross carrying amount 1,742 1,683
Accumulated amortization (793) (732)
Net carrying value 949 951
Developed technology    
Amortizable intangible assets:    
Gross carrying amount 21,082 20,498
Accumulated amortization (8,565) (7,687)
Net carrying value 12,517 12,811
Other intangible assets    
Amortizable intangible assets:    
Gross carrying amount 2,262 2,198
Accumulated amortization (2,206) (2,141)
Net carrying value $ 56 $ 57
v3.4.0.3
Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]    
Amortization of intangible assets $ 682 $ 687
v3.4.0.3
Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Estimated amortization expenses:    
2016 (remaining) $ 2,111  
2017 2,815  
2018 2,815  
2019 2,815  
2020 2,800  
2021 166  
Net carrying value $ 13,522 $ 13,819
v3.4.0.3
Goodwill and Other Intangible Assets - Schedule of Amortizable Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Amortizable intangible assets:    
Finite-lived intangible assets, beginning $ 13,819  
Amortization (682) $ (687)
Foreign currency translation adjustment 385  
Finite-lived intangible assets, ending 13,522  
Goodwill:    
Goodwill, beginning 20,105  
Foreign currency translation adjustment 585  
Goodwill, ending $ 20,690  
v3.4.0.3
Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Payables and Accruals [Abstract]    
Payroll and employee related expenses $ 4,412 $ 4,787
Accrued warranty costs 624 922
Sales and other taxes payable 184 320
Other accrued liabilities 3,089 3,174
Accrued expenses and other current liabilities $ 8,309 $ 9,203
v3.4.0.3
Debt (Details) - USD ($)
Jun. 30, 2015
Mar. 31, 2016
Dec. 31, 2015
Debt Instrument [Line Items]      
Long-term debt, net of discount   $ 42,670,000 $ 42,643,000
Revolving Credit Facility      
Debt Instrument [Line Items]      
Revolving credit facility amount $ 15,000,000    
Long term revolving credit facility   $ 0  
Revolving Credit Facility | LIBOR      
Debt Instrument [Line Items]      
Revolving credit facility spread (as a percent) 5.25%    
Revolving credit facility unused line fee (as a percent) 0.50%    
Secured Debt | Term Loan Facility      
Debt Instrument [Line Items]      
Loan agreement term 5 years    
Loan facility face amount $ 43,000,000    
Stated interest rate 9.50%    
End of term loan fee (as a percent) 2.95%    
Interest only period for term loan 30 months    
Line of Credit | Revolving Credit Facility      
Debt Instrument [Line Items]      
Loan agreement term 5 years    
v3.4.0.3
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]    
Rent expense for operating lease $ 370 $ 288
v3.4.0.3
Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details)
$ in Thousands
Mar. 31, 2016
USD ($)
Year:  
2016 (remaining) $ 1,292
2017 1,792
2018 1,567
2019 1,534
2020 1,153
2021 1,051
Thereafter 370
Total $ 8,759
v3.4.0.3
Stock-based Compensation - Narrative (Details)
 3 Months Ended
Mar. 31, 2016
USD ($)
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of options granted (in shares) 217,244
Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unrecognized compensation cost related to stock options | $ $ 3,010,000
Weighted average period of compensation cost recognition 3 years 4 months 24 days
Stock Options | Common Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
ESPP payroll deduction percentage (up to) 15.00%
ESPP share purchase limitation (in shares) (lesser) 5,000
ESPP purchase limitation market value of common shares | $ $ 25,000
Restricted stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Awards granted (in shares) 0
Weighted average period of compensation cost recognition 3 years
Unrecognized compensation cost related to the restricted stock | $ $ 8,103,000
Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Awards granted (in shares) 212,504
Weighted average period of compensation cost recognition 4 years
Unrecognized compensation cost related to the restricted stock | $ $ 953,000
2015 Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award shares authorized (in shares) 2,301,145
2015 Plan | Common Stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Percentage increase in issued shares by outstanding shares 4.00%
2015 Plan | Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of options granted (in shares) 795,957
2015 Plan | Restricted stock  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Awards granted (in shares) 649,067
2015 Plan | Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Awards granted (in shares) 212,504
v3.4.0.3
Stock-based Compensation - Schedule of Stock Options Activity (Details) - $ / shares
 3 Months Ended 12 Months Ended
Mar. 31, 2016
Dec. 31, 2014
Number of Options    
Number of options outstanding, beginning balance (in shares) 848,400  
Number of options granted (in shares) 217,244  
Number of options exercised (in shares) (9,523)  
Number of options forfeited (in shares) (812)  
Number of options outstanding, ending balance (in shares) 1,055,309  
Number of options vested and exercisable (in shares) 298,895  
Weighted average exercise price    
Options outstanding, Weighted average exercise price, beginning balance (in dollars per share) $ 11.10  
Options granted, Weighted average exercise price (in dollars per share) 5.31  
Options exercised, Weighted average exercise price (in dollars per share) 1.15  
Options forfeited, Weighted average exercise price (in dollars per share) 2.83  
Options outstanding, Weighted average exercise price, ending balance (in dollars per share) 10.02  
Options vested and exercisable, Weighted average exercise price (in dollars per share) $ 2.83  
Weighted average remaining contractual term    
Options outstanding, Weighted average remaining contractual term 8 years 6 days 7 years 8 months 24 days
v3.4.0.3
Stock-based Compensation - Schedule of Restricted and Restricted Stock Units (Details)
 3 Months Ended
Mar. 31, 2016
shares
Restricted Stock  
Number of Restricted Stock Shares and Units  
Number of Restricted Stock Shares, beginning balance (in shares) 1,083,793
Number of Restricted Stock Shares, Granted (in shares) 0
Number of Restricted Stock Shares, Vested (in shares) (86,052)
Number of Restricted Stock Shares, Forfeited (in shares) (674)
Number of Restricted Stock Shares, ending balance (in shares) 997,067
Restricted Stock Units  
Number of Restricted Stock Shares and Units  
Number of Restricted Stock Shares, beginning balance (in shares) 0
Number of Restricted Stock Shares, Granted (in shares) 212,504
Number of Restricted Stock Shares, Vested (in shares) 0
Number of Restricted Stock Shares, Forfeited (in shares) 0
Number of Restricted Stock Shares, ending balance (in shares) 212,504
v3.4.0.3
Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Total $ 1,337 $ 5
Cost of revenues    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Total 47 0
Research and development    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Total 111 1
Sales and marketing    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Total 269 1
General and administrative    
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]    
Total $ 910 $ 3
v3.4.0.3
Net Loss per Common Share - Schedule of Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Numerator:    
Net loss attributable to common stockholders $ (17,062) $ (15,274)
Denominator:    
Weighted-average common shares outstanding - basic 24,957,002 15,318,390
Dilutive effect of stock options, warrants, restricted stock and restricted stock units (in shares) 0 0
Weighted-average common shares outstanding - diluted 24,957,002 15,318,390
Net loss per share attributable to common stockholders - basic and diluted (in usd per share) $ (0.68) $ (1.00)
v3.4.0.3
Net Loss per Common Share - Schedule of Antidilutive Securities (Details)
 3 Months Ended
Mar. 31, 2016
shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Total (in shares) 2,268,941
Stock options  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Total (in shares) 1,055,309
Warrants for common stock  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Total (in shares) 4,061
Restricted stock  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Total (in shares) 997,067
Restricted stock units  
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Total (in shares) 212,504
v3.4.0.3
Income Taxes (Details) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Income Tax Disclosure [Abstract]      
Income tax expense (benefit) $ (30,000) $ 199,000  
Effective rates 0.19% 1.30%  
Liability for uncertain tax positions $ 0   $ 0
v3.4.0.3
Segment, Geographical, and Customer Concentration (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
USD ($)
segment
Mar. 31, 2015
USD ($)
Dec. 31, 2015
USD ($)
Segment Reporting [Abstract]      
Number of reportable segments | segment 1    
Segment Reporting Information [Line Items]      
Total revenues $ 18,462 $ 16,748  
Total long-lived assets 46,675   $ 45,447
United States | Reportable Geographical Components      
Segment Reporting Information [Line Items]      
Total revenues 16,603 15,321  
Total long-lived assets 8,155   7,694
International | Reportable Geographical Components      
Segment Reporting Information [Line Items]      
Total revenues 1,859 $ 1,427  
Israel | Reportable Geographical Components      
Segment Reporting Information [Line Items]      
Total long-lived assets 32,042   31,694
Other Regions | Reportable Geographical Components      
Segment Reporting Information [Line Items]      
Total long-lived assets $ 6,478   $ 6,059 
begin 644 Financial_Report.xlsx
M4$L#!!0    ( .(ZI$BDF6I)^P$  %$B   3    6T-O;G1E;G1?5'EP97-=
M+GAM;,W:S4[C,! '\%>IG[_Y"G.=G88X[+J4_+?&(MM3U;'VGD:SRWV@Y%Y6VOO!M#H9-[+M
MV!UDG;O5RK34N?;!YBUURJ7I4XY7LSL=THVV.07;#6P*[#]Y7>+L8PI&'TAW
ML2=*=JAC>AHH'JN_C[Q4OJ*5?AC2NPH_W[LZT#"MB;WQSZ6N=SE+S+\MJQR-
M;ZIPN/%OG1E;AN;']6\[ROD_7LO!3=S:X2KH1W-08'NR,95C;;49CXWJT87-
M#^5):%^A-!8Z??_3T*=@9-/AA$B\JP\!TH<$Z4.!]-& ]'$&TL=G
MD#Z^@/3Q%:0/OD!I!$54CD(J1S&5HZ#*453E**QR%%QW8OG*\M"_V/Z'D4X$G1H>)%
M]2-F Q+M*;V"^GH A3&^.R6:E((C-Z."N[_8_ )02P,$%     @ XCJD2%,R
M;J;] 0  )2(  !H   !X;"]?6WV*6A=+\-X.:=Z?/@X>_&\75?C\U:JQ<]FW*>RKG[WXVMN
M4RHYG$]R,RTP/7X;TG>6[W>[PR8]]9M?I]25+RK"OP6J,!^D\T%*";+Y(*,$
M^7R04X+B?%"D!"WG@Y:4H-OYH%M*T-U\T!TEZ'X^Z)X2)#60L>8D(:PY6@O@
M6CA>"P!;.&(+(%LX9@M 6SAJ"V!;.&X+@%LX<@N@6SAV"\!;.'HKT%LY>BO0
M6TGOVNAEFZ.W KV5H[<"O96CMP*]E:.W KV5H[<"O96CMP*]E:.W KV5H["-DLX>AO0VSAZ&]#;.'H;T-LX>AO0VSAZ&]#;.'H;
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M5UF6<$8-ER)\X$Q)+1>&W&P8)*/@-:[email protected]%QQLPT[)::Z56!FC"8P1E_A
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M+$&A?@Q."&[CN')RL (JQZ[<;#+;*UWACG.EG)P)O+@#P)F8U
M!<'JLIL9R59M>SPL.K4QU(O]$0RYEUJ3S$:'OJ0@Q=RL*2R3*9 YW=3YAMB&
M>DIN0<:*9DO437):!IYK=X:-NNF>^^B&G,RM/CSTLV=\>D](S4"WHIHYC=+J
M7OA+J_O97T'DQ$M#NXS\I%22_/72<_>^<9[UNEYZ:9,9WD*1)^>1*D4]-+9C
MU,S-.DX16>ZN6R.GY];!D9@GR.:)GYKW(?EQRM3]3T#?W?UFCKO[S1SW[=S,
MZ?N?SK[[=K:#_YUV-!_@MC^G_\7OT)=-].58L?AS!NZV-W/<;:\?2$5P_IR!
MN^W56_&=5C;.N\'1S'_S6_O5+^O@^!]A^!=02P,$%     @ XCJD2+Q@#A0_
M 0  :0,  !$   !D;V-07&P9,S%AQ*
M\%<'56M/N5TD6T1+"?%\"XKY2:C0(;DV3C$,H=L0R_B.;8 4638G"I )AHP<
M@:GMB4E5"DZY X;&=7C!>[S=NSK"!"=0@P*-GN23G"35B]YIT^B2#/JJ#(YK
MYG%IA%Q+$+?M4/8[%3HC..5/
MEH_/\6Q2J3TRS2&HO*386E@DY\ZOT[O[U4-2%5D^3[-9FEVOLAM:%'16O!\G
MN_ W&%;=$/_6\=E@W"Y*K&'D;J-&Q.7&SP@2X+F3%J71HW 1\TT<87[_\0D<
MQX,Z8;QL.V@;XX2OXOT:HN/+"2O;&->>4C^BBU=5?0%02P,$%     @ XCJD
M2)E&UL[5I;<]HX%'[O
MK]!X9_9M"\8V@;:T$W-I=MNTF83M3A^%$5B-;'EDD81_OTV23;J;
M/ 0LZ?O.14?GZ#AY\^XN8NB&B)3R>	+]O6N[!3+UES@6QHO(];JM-O=5H1I;*$81V1@?5XL
M:$#05%%:;U\@M.4?,_@5RU2-9:,!$U=!)KF(M/+Y;,7\VMX^9<_I.ATR@6XP
M&U@@?\YOI^1.6HCA5,+$P&IG/U9KQ]'22(""R7V4!;I)]J/3%0@R#3LZG5C.
M=GSVQ.V?C,K:=#1M&N#C\7@XMLO2BW A(5M>5 TR  6'!VULS2 Y9>*?IUE!K9';O=05SP6.XY
MB1'^QL4$UFG2&98T1G*=D 4. #?$T4Q0?*]!MHK@PI+27)#6SRFU4!H(FLB!
M]4>"(<7K;YH]5Z%82=J$^!!&&N*<<^9ST6S[!Z5&T?95
MO-RCEU@5 9<8WS2J-2S%UGB5P/&MG#P=$Q+-E L&08:7)"82J3E^34@3_BNE
MVOZKR2.FJW"$2M"/F(9-AIRM1:!MG&IA&!:$L;1>$[2M!'\6:PU
[email protected]$.$9)>-T(^8LZ+D!&_'H8X2IKMHG%8!/V>7L-)P>B"RV;]
MN'Z&U3-L+([W1]072N0/)J<_Z3(T!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E
M>G@*-Y;&O%"N@GL!_]':-\*K^(+ .7\N?<^E[[GT/:'2MSAD6R4)RU3393>*$IY"&V[I4_5*E=?EK[DHN#Q;Y.FOH70^
M+,_Y/%_GM,T+,T.WF)&Y"M-2D&_#^>G%>!KB.=D$N7V85VWGV-'1
M^^?!4;"C[SR6'<>(\J(A[J&&F,_#0X=Y>U^89Y7&4#04;6RL)"Q&MV"XU_$L
M%.!D8"V@!X.O40+R4E5@,5O& RN0HGQ,C$7H<.>77%_CT9+CVZ9EM6ZO*7<9
M;2)2.<)IF!-GJ\K>9;'!51W/55ORL+YJ/;053L_^6:W(GPP13A8+$DACE!>F
M2J+S&5.^YRM)Q%4XOT4SMA*7&+SCYL=Q3E.X$G:V#P(RN;LYJ7IE,6>F\M\M
M# DL6XA9$N)-7>W5YYNTB42%(JP# 4A%W+C[^^3:G>,U_HL@6V$5#)DU1?*0XG!
M/3-R0]A4)?.NVB8+A=OB5,V[&KXF8$O#>FZ=+2?_VU[4/;07/4;SHYG@'K.'
MYA,L0Z1^P7V*BH 1JV*^NJ]/^26<.[1[
M\8$@F_S6VZ3VW> ,?-2K6J5D*Q$_2P=\'Y(&8XQ;]#1?CQ1BK::QK<;:,0QY
M@%CS#*%F.-^'19H:,]6+K#F-"F]!U4#E/]O4#6CV#30,9FV-J/D3@H\
MW/[O#;#"Q([A[8N_ 5!+ P04    " #B.J1(7$J2&EH"  !R"P  #0   'AL
M+W-T>6QE@
MBR?+F=-?/UTJ!IEHN(KA
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M(X[BH6$IEG/[[_QR81=7IZK,=,V3E1:>KK03/M#K4Y5VQ5*G_[?1TSWR7D98B9TQ > # #YL RZ%O9/![%JRI2P[J[R2V#R=HW_S
M;<"%O@\]AL(:-QMI2W@;XFU#B3T-!?!?I]I7@:?H:TH(>VY,]:#JNB=\\QMI
M0P5YH=>Q$MEG1*&Q*:%L& ?;!;7.'MLHG /D26#UO<:5(\^2%V^2BBJF5)N>E/>[=V*H5Z:&,C65()6IH265^'HJW&.
MM3'R\&1A<5ANA)4(02-30LD+79I&LFOQ. X 14P)$Y=R'=/PGIU+L[:BW<3I
M]_V0E,YA4C-T,B.IH1GNXH,/;N.M8,!IB-)EA"6++47D!_(0E]
MS0A?H>;(]BAI1DA*%Q^)0G\SPM_)*@QK.Z#0X(PP>+(*LP-$H<@9(?)D5;%W
MB$*=,T+G777UG"U$H>$98?C.\AI8N,2BX3EA^&2QY&AXCH;GA.&3JV.>(0H-
MSPG#=Q7+'EN&76J%J-$F@E!\-^I*6"L0A;;GA.UTW3V#1JMVCK;GA.V[4'UX
MW6@$T?:$[:/IH/3 %7UJ(AS=#PG'-\Q'[S$A2AT/"<?H."<  FG)Y?+ G[#^_T?]^B:_D2FE9Q4\@ F9M)W3?
M?GT 8A JN0%L_G^^&3/8:"K*FNQ]7(IFXWOBU-.*R)>6$-K]>;"
M>$6D&O*K+QI.R=F8JM+'$,9^18K:RU(S]\ZSE-UD6=3TG0-QJRK"_^UIR=JM
MA[Q^XJ.XYE)/^%GJ#[YS4=%:%*P&G%ZVW@YM#BC0$J/X7=!6.,] )W]D[%,/
M?IZW'M0YT)*>I Y!U.U.#[0L=21%_ML%?3"UT7WNH[^:HL'*O)E[T5M[JU]$Z+.-F_ 
MG0$/!AQ_:P@Z0S 84&@JM9F9NGX02;*4LQ:(ANBOC39*SG40%1D($XW;Y5*5
M"35[SV#JWW683H&-8N\JT*#P5>Q9 /;&=NS8\1S@X"J"94#0 ^QP%SCV<-D>
M]O;0VD/''HWSLXJ]JXB7 =$$$#GVU2S 5:R7 ?$$$#OV9!;@*A!<)JPFA)7K
M1V-$;!%64MO/#-$3Z[2>0-8N!,_6,9(\T2K)!)&X_G"VCL2I \4X2%"RS$%P
M M+[QX,TWU9CS1,+AM"4,OHU)[T5=921YHGN0GA*[;%#I^F:+(8(P6C*\IWMKZ+\:HX% 4[L5DN[^PVSP]&SPV;[?,BSM"%7
M^HOP:U$+<&12;<)FQ[PP)JE*!;ZHY%W8@6=.??L,1
MG/T'4$L#!!0    ( .(ZI$CRW;NY-@0  $$4   8    >&PO=V]R:W-H965T
M&ULC9C+CN,V$$5_Q?!^1GP_&FX#8P5!L@@PF$6R5K?IMC&2
MY4CJ]N3OHY<]Q4HIYL82Y5NL2XH\I+BYULWW]AA"M_I1E>?V>7WLNLM3EK6O
MQU 5[>?Z$L[]/X>ZJ8JN+S9O67MI0K$?@ZHR$XR9K"I.Y_5V,S[[VFPW]7M7
MGL[A:[-JWZNJ:/[9A;*^/J_Y^O;@V^GMV T/LNTFN\?M3U4XMZ?ZO&K"X7G]
MA3_E4@V24?'G*5Q;<+\:S+_4]?>A\/O^>RG*HJ<_\
M]USISYQ#(+R_U?[KV-S>_DO1AKPN_SKMNV/OEJU7^W HWLON6WW]+VJZM;R'I5%3^FZ^D\7J_3/X[-872 F /$/8"K_PV0F:)
M&"6[2$(I\D@A[Y*LST^:$#<34_&+@/'J<;R\Q:LI7L)X'5NT4R,FR7F2&.](
M50Y54C&9T!:%O"CHQ<19S.1%P2Q6@RQ E4.30S(:KL@I
MG$47&*$"(E31"!41&[4P].(2RYQ.&30"(U1 
MA"H:H0*R40EC:4A@F4K9<6*$"HA012-40#9:38_A6&1X@A>,3P'QJ6A\BF@#
MJ^F=91ZKE$_I&0Q0 0&J:( *"$;+%WI&Q41*\((WL *B4Z$=[+RS%SI*XS$?
MYZU]+--,)0B8SN5UJR[ -34T!JZ@5202 NC?T%S?)7)&:FA,S4-*,DB^:A6T(XTEGI
M4KYK,34EI*:F*24A#C]Q*PVGUWXDU$:GC#R)R2DA.35-*PFA^,DN^!'(3\+F
M2O[GTQ^R4].TDI"*KI_Z]+H2R;P7*?24F)X2TE/3Q)*/MI^WTXB'V\\,'/9<
MBK?P1]&\G<[MZJ7NNKH:#WD.==V%OC;VN0?@,13[>Z$,AVZXM?U],YUP386N
MOMP.[.ZGAMM_ 5!+ P04    " #B.J1(0)N0D"$[ 3XPC [:U!$00IB"#K6]7Y5Z[9E5)3T+TO;X
MF7G\W'6(_7O"A(Y;/_#GA9?VU BU *H27'V'ML,];VGO,7S<^H_!0QU )=&*
MWRT>N37W%/R.TE<5_#QL?:@8,,%[H5(@.5QPC0E1F63EOU/2]YK*:,_G[-]U
MNQ)_ASBN*?G3'D0C::'O'? 1G8EXH>,///60J(1[2KC^]O9G+F@W6WRO0V]F
M;'L]CN9)FDTVMR&<#.'5$,1W#=%DB!8&8,AT7]^00%7)Z.CQ :E?.WB0U]F8>5VR,RY7+U62E^"B\DR24$N>;$GH4M0WBN@J ;*^$R*<(4SX&-H0
MQ(N:F"2/IM01N( Q4J4[)@2FRFT,F46)7"N,A#6#CAZUMAGJ=)D'Y,E"Z(4ILH>SLJY$FLC\TC
MI0++1' C_PN-O"&O <%'H::9G#-S9YA T&&^ J_W&PO=V]R:W-H965T&ULC9C;
M;N,V$(9?1?!](G$H463@&(A4%.U%@<5>M->*31^P.KB2$F_?OCK9&0[&:][$
MDO(/YQ\>/E%<7YKV1W>TM@]^5F7=O:Z.?7]^"<-N>[15T3TW9UL/_]DW;57T
MPVU["+MS:XO=%%25(421"JOB5*\VZ^G9MW:S;C[Z\E3;;VW0?515T?Z7V;*Y
MO*[$ZOK@^^EP[,<'X68=WN)VI\K6W:FI@];N7U=OXB67,$HFQ=\G>^G0=3":
M?V^:'^/-G[O7531ZL*7=]F,3Q?#S:7-;EF-+0^9_ET:_5/^<]KUQ\%MM IV=E]\E/WWYO*'76I(Q@:W3=E-?X/M1]0UPWS[)E%\&CV.CZ_Q\1P?XWCA6DSG(F9)/?=!'(N84^6.
M2J8F>>PE(5X2[(5TEYJ])"A+',6:$^58!":1CYTHXD1A)Y)UHG"].E:LW]Q1
MJ109ONLE)2.<8B_QXWA-:M&_&.&E%HU=@C0I6XNCBB)0C[T8XL4\'F&#LR12
ML58MET5PGM9'L5,A=F1 ^ZU@(Z@>C)F7+SA;-,OT3
M,+P=K$J2U,<-D$DG,)?2U*,%2>MQR,0NU&S17)1Z6TSVA3S F'C0/$6/B,%(6=P+33/"$$!IG2
M/.R(R,=+2KU@VO%ILD6S\#U2DG\+.#*A(^GQ=A04G@+34_-O H'!^"24N#=S
M7!W$B<>.0ABZ,C%#M8.YIGGL@
MG$0BYE]01)88GQT;4#^8?)I-E"V:)9'AYT7NJD"!SV!1C +&J.8Q"M*I.XT,
MOSZ)+HE2CTT:4)0"1JGF40H8DI(%7.YHGH3Q>$T!!2E@D!H>I)"0WKFS52.Z
M!'PV6Z#(\@0,4Z\)2!$(&('\2&;@L$W>X;&C>DIC#P "!2!@ !H>@.#L# 5+
ME-P1^3BA>T? X#,LD3)P-H;QG8VLH_+K%TDA*C%$#2EY^7"2+A^31+&ZG.A4
M)#QFGJ0@E1BDAH#4+(X<0D;/]*OW:L@%J8<92E&)*WWZ=B%/,_$2SZ?GGPU
MLUF?BX/]JV@/I[H+WIN^;ZKI&&'?-+T=+$;/ SV.MMC=;DJ[[\?+=+ANYS.4
M^:9OSM&PO
M=V]R:W-H965T&ULG9C)CMLX$(9?1? ]D5BEM>$VT-(@R!P"
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MOFV2>.V^#>W,$A@EJ2E1=X7;-R[V "L:#D8X2!UDIB),'O> MQZFVQ-^,]:C&:!C%)JE'R045>")(LH[( (O^QFX"-)C#3[7F/&PC9<$+2
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ME3#TBI"/*F  1]X@N:P1_6BLBQAP1[(&,/O<=.B,8R+\C1
MAP1]\KZ>(F%:O&"'\#&TJ!>119XO,B*AGKSV
M4T0R5\G"LB0RA,3F>P'4]4ZKW77U>5X
M/K6OZT[WYKR/_;P==;Z[WQ1ZWPV747_=3(=STTU7GV]GC?<#S\UO4$L#!!0 
M   ( .(ZI$@U*@MYG@$  +$#   8    >&PO=V]R:W-H965T&ULC5/;3N,P$/T5RQ^ T[0LJRJ-1%FAW8>5$ _P[":3Q,+V!-MIX._7ER2T
M%8)]B6##$#DIQ\[X'B>..KNA<>!1MYT*!
ME05;>+50H*U 30PT.WJ[VNXW 1$!3P)&>Q*3X/V ^!*2/_6.9L$"2*A<4.!^
M.<(=2!F$?./72?.C92">QK/Z?9S6NS]P"W+X&Z81
MKH-@A=+&+ZD&ZU#-%$H4?TNKT'$=TY^?V43[G)!/A/R"P%*C:/,7=[PL#([$
M]CR&5BHYI)TWNCUE>/Y6J=%>P8A"9,HNS/, N">?5/6^3TG)Z?
MT//OZ>N9ODX.UV<._Z/_9A;8)('-5R,FS/X<<^F2G>RI M/&JV-)A8-V:4N7
MZG([;_-X)A_PLNAY"W^Y:86VY(#.GVP\A@;1@3>175U3TOGWLR02&A?"&Q^;
M=*52XK"?'\CR2LM_4$L#!!0    ( .(ZI$CRCHFZH0$  +$#   8    >&PO
M=V]R:W-H965T&ULA5/;;IPP$/T5RQ\0L\"VU8I%RJ:JVH=*
M41[:9R\,8,7V4-LLZ=_7%R"[4=2\X)GAG#-G?*EF-,]V '#D14EMCW1P;CPP
M9IL!%+=W.(+V?SHTBCN?FI[9T0!O(TE)EF?9)Z:XT+2N8NW1U!5.3@H-CX;8
M22EN_IY XGRD.[H6GD0_N%!@=<4V7BL4:"M0$P/=D=[O#J#\C/H?D1WND6;  $AH7%+A?+O  4@8AW_C/HOG:,A"OXU7]6YS6NS]S"P\H
M?XO6#=YL1DD+'9^D>\+Y.RPC[(-@@]+&+VDFZU"M%$H4?TFKT'&=TY^R6&CO
M$_*%D&^$+UDTGAI%FU^YXW5E<"9VY.'L=@GY%SS^F%RN]2 Z+&X?EQP+E*E F@?)_(R;,
MZ1:S?].$7>VI M/'JV-)@Y-V:4NWZG8[[_-X)J_PNAIY#S^YZ86VY(S.GVP\
MA@[1@3>1W>TI&?S[V1()G0OA9Q^;=*52XG!<'\CV2NM_4$L#!!0    ( .(Z
MI$A]O7I(H@$  +$#   8    >&PO=V]R:W-H965T&ULA5/;
M3N,P$/T5RQ^ T[0%5*61*&BU^[ 2X@&>W6226-B>8#L-_#V^)*%=H>4EGIF<
M<^:,+\6(YM5V (Z\*ZGMGG;.]3O&;-6!XO8*>]#^3X-&<>=3TS+;&^!U)"G)
M\BR[9HH+3#@I-#P:(@=E.+FXP 2QSU=T;GP)-K.A0(K"[;P:J% 
M6X&:&&CV]&ZU.VP"(@*>!8SV+";!^Q'Q-21_ZCW-@@604+F@P/UR@GN0,@CY
MQF^3YE?+0#R/9_5?<5KO_L@MW*-\$;7KO-F,DAH:/DCWA.-OF$;8!L$*I8U?
M4@W6H9HIE"C^GE:AXSJF/]M\HGU/R"="OA!NLV@\-8HV'[CC96%P)+;GX>Q6
M.P\W0<0K$QO53)K>&[6^>BI7Z^N"G8+0A$F4PP5F03"O_FV+G%[2\S-Z_C-]
M/=/7R>'ZPN'-SP*;66"3!#;_&S%A#I>8VW^:L+,]56#:>'4LJ7#0+FWI4EUN
MYUT\1/8%+XN>M_"7FU9H2X[H_,G&8V@0'7@3V=66DLZ_GR61T+@0WOC8I"N5
M$H?]_$"65UI^ E!+ P04    " #B.J1(B@,'.Z(!  "Q P  &    'AL+W=O
M+F"@?HW9\&M>+6I;IE9M# ZT!2DJ5)V/N4<$P"\!D]G$Q'L_
M(;[ZY*D^T,1;  F5]0K<+6>X RF]D&O\-FM^M/3$;;RH/X1IG?L3-W"'\K>H
M;>?,)I34T/!1VA><'F$>X=H+5BA-^))J-!;50J%$\?>XBCZL4_R3Y3/M6UX6&B=B!N[/;K=W<.U%G#(Q04W'Z9U1XZKG8%8$<^J?MDCI)3W=T-.OZ=E"SZ+#;-L]3[X6R!>!/ KD_QLQ8HX7
MF/S?(=EF3Q7H-EP=0RH<>QNW=*VNM_,V#6?R 2^+@;?PD^M6](:J9A8')8'LK[2\B]02P,$%     @ XCJD
M2"-<5MVA 0  L0,  !D   !X;"]W;W)K&ULA5/;
M;IPP$/T5RQ\0 \NVU8I%RJ:JVH=*41[:9R\,8,7V4-LLZ=_7%R"[4=2\X)GA
MG#-G?*EF-,]V '#D14EMCW1P;CPP9IL!%+=W.(+V?SHTBCN?FI[9T0!O(TE)
M5F39)Z:XT+2N8NW1U!5.3@H-CX;822EN_IY XGRD.5T+3Z(?7"BPNF(;KQ4*
MM!6HB8'N2._SPZD,B CX)6"V5S$)WL^(SR'YT1YI%BR A,8%!>Z7"SR E$'(
M-_ZS:+ZV#,3K>%7_%J?U[L_;4=)"QR?IGG#^#LL(^R#8H+3Q
M2YK).E0KA1+%7](J=%SG]&>?+[3W"<5"*#;"ERP:3XVBS:_<\;HR.!,[\G!V
M^<'#31#QRL1&-9.F]T:MKU[JO"PJ=@E""R913C>8#<&\^KLM"GI++Z[HQ[&X>[CP7*5:!, N7_1DR8TRVF?-.$7>VI M/'JV-)@Y-V:4NWZG8[
M[XMX)J_PNAIY#S^YZ86VY(S.GVP\A@[1@3>1W>TI&?S[V1()G0OA9Q^;=*52
MXG!<'\CV2NM_4$L#!!0    ( .(ZI$B@B"VFHP$  *\#   9    >&PO=V]R
M:W-H965TZ+WN^.Y"(@(^"5@LIN8!.\7
MQ.>0_&A.- L60$+M@@+WRQ4>0,H@Y!O_F35?6P;B-E[4O\5IO?L+M_" \K=H
M7._-9I0TT/)1NB>T"AW7*?W9YS/M8T(^
M$_*5<)=%XZE1M/F5.UZ5!B=B!Q[.;G?T'$MJ'+5+&[I6U[MY'X^0O<*K&PO=V]R:W-H965TU#I2@/[;,7!K!B>ZAMEO3OZPN0W2IJ7O#,
M<,Z9,[Y4,YH7.P X\JJDM@%AB=#[*04-W^.('$^T)RNA6?1#RX46%VQC=<*
M!=H*U,1 =Z /^?Y8!D0$_!0PVXN8!.\GQ)>0?&\/- L60$+C@@+WRQD>0O.3=,\X?X-EA-L@V*"T
M\4N:R3I4*X42Q5_3*G1]T):&ULC5/;3N,P$/T5RQ^ T[1E495&HJQ6\("$
M>-A]=I-)8F%[LK;3L'^/+TEH$8)]B6=<_V.
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MI$C(> 9MH@$  +$#   9    >&PO=V]R:W-H965T6CG-"\VA[ D3U#9;=,<:%I5<;:LZE*')T4&IX-L:-2W/P]@L3I0#=T*;R(KG>AP*J2K;Q&
M*-!6H"8&V@-]V.R/14!$P"\!D[V(2?!^0GP-R5-SH%FP !)J%Q2X7\[P"%(&
M(=_XSZSYT3(0+^-%_7N;$9) RT?I7O!Z0?,(^R"8(W2
MQB^I1^M0+11*%']+J]!QG=*?XFZF?4[(9T*^$NZS:#PUBC:_<<>KTN!$[,##
MV6WV'FZ"B%+5L:3&4;NTI6MU
MO9T/>3R3#WA5#KR#G]QT0EMR0N=/-AY#B^C F\AN=I3T_OVLB836A?#.QR9=
MJ90X')8'LK[2ZAU02P,$%     @ XCJD2%GNBAFB 0  L0,  !D   !X;"]W
M;W)K&ULA5/;;J,P$/T5RQ]0$Y(T5420FJZJ[L-*
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ML',0FC")GY!S[^GKV?Z.CE<7SG P-H@-O(KO94M+Y][,D$AH7PIV/3;I2*7'8SP]D>:7E7U!+ P04    " #B
M.J1(BX8OEZ,!  "Q P  &0   'AL+W=OF9;8WP.M(
M4I+E679@B@M-RR+6'DU9X."DT/!HB!V4XN;O&22.)[JA<^%)M)T+!586;.'5
M0H&V C4QT)SH_>9XW@5$!/P2,-I53(+W"^)S2'[4)YH%"R"A.I4;3YE3M>%@9'8GL>
MSFYS]' 31+PRL5'-I.F]4>NKUW*S_U*P:Q":,(EROL$L".;5WVV1TUMZOJ+G
M'].W,WV;'&[7W0_9QP*[66"7!';_&S%ASC>8P]LAV6I/%9@V7AU+*ART2UNZ
M5)?;>1\/D;W"RZ+G+?SDIA7:D@LZ?[+Q&!I$!]Y$=K>GI//O9TDD-"Z$GWQL
MTI5*B<-^?B#+*RW_ 5!+ P04    " #B.J1(0R"W^:(!  "Q P  &0   'AL
M+W=OF8W8PP)M(4I+E67;#%!>:5F6L/9NJQ-%)H>'9
M$#LJQYH%"R"A=D&!^^4$#R!E$/*-_\Z:'RT#\3Q>U'_&:;W[([?P
M@/*/:%SOS6:4--#R4;H7G!YA'N$Z"-8H;?R2>K0.U4*A1/&WM H=URG]N2UF
MVM>$?";D*^$NB\93HVCS!W>\*@U.Q X\G-UFY^$FB'AE8J.:2=-[H]973]7F
M)B_9*0C-F$0Y7&!6!//J7[;(Z24]/Z/GW].W"WV;'&XO'&Z_%R@6@2()%/\;
M,6$.EYCB4Q-VMJ<*3!>OCB4UCMJE+5VKZ^V\S^.9?,"K&PO=V]R:W-H965TY/W,(#RK^B=ITWFU%20\,'Z9YQ_ G3"-L@
M6*&T\4NJP3I4,X42Q5_3*G1%P9'8
MGH>S6^T]W 01KTQL5#-I>F_4^NJY7.VV!3L'H0F3*,QF2TGGW\^22&A<"&]]
M;-*52HG#?GX@RRLMWP!02P,$%     @ XCJD2+23_.BC 0  L0,  !D   !X
M;"]W;W)K&ULA5/;;IPP$/T5RQ\0L["Y=,4B95-%
M[4.E* _MLQ<&L&)[B&V6]._K"Y#=*&I>\,QPSIDSOI03FA?; SCRIJ2V>]H[
M-^P8LW4/BMLK'$#[/RT:Q9U/30..WIABZ%9]'U+A185;*5UP@%V@K4Q$"[I_>;W6$;$!'P6\!D
MSV(2O!\17T+RL]G3+%@ ";4+"MPO)W@ *8.0;_PZ:[ZW#,3S>%%_C--Z]T=N
MX0'E']&XWIO-*&F@Y:-TSSC]@'F$ZR!8H[3Q2^K1.E0+A1+%W](J=%RG]*Z/65T_5
MYN:N9*<@-&,2Y7"!61',JW_:(J>7]/R,GG]-+Q9ZD1P6%PZ_?2VP702V26#[
MOQ$3YG"!NZK =/'J6%+CJ%W:TK6ZWL[[/)[).[PJ!][!+VXZH2TY
MHO,G&X^A173@3617UY3T_OVLB836A?#6QR9=J90X')8'LK[2ZA]02P,$%   
M  @ XCJD2"*.".BB 0  L0,  !D   !X;"]W;W)K&ULC5/+;MLP$/P5@A\02K*=%(8L($X1)(<"00[MF996$A&2JY*4E?Y]^9 4
MNPC:7L3=U3%7BZ*30\&*('97BYM<1)$X'FM.E\"JZWH4"
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M 'AL+W=OV$ *S9#;;.D?U]?@$ 4*2]X9CCGS!E?\A'UJVD!+'E3LC-G
MVEK;GQ@S90N*FSOLH7-_:M2*6Y?JAIE> Z\"24F6)LD]4UQTM,A#[5D7.0Y6
MB@Z>-3ES_NX#$\4QW="Z\B*:UOL"*G"V\2BCHC,".:*C/]'%WNF0>$0"_
M!8QF%1/O_8KXZI.?U9DFW@)(**U7X&ZYP1-(Z85,$2I0E?4@[&HIHIE"C^%E?1A76,
M?P[I1/N^[/;G1Q<>Q&G3$Q0TW%Z9]2X
MZJW8';.&PO=V]R:W-H965T5>R,V?:6MN?&#-E"XJ;.^RAZ9!X1 +\%C&85$^_]BOCJDY_5F2;> D@H
MK5?@;KG!(TCIA5SCMTGSHZ4GKN-9_2E,Z]Q?N8%'E']$95MG-J&D@IH/TK[@
M^ .F$0Y>L$1IPI>4@[&H9@HEBK_'571A'>.?8S;1/B>D$R%="-^28#PV"C:_
M<\N+7.-(3,_]V>U.#JZ]B%,F)JCI.+TS:ESU5NR.AYS=O-"$B93+!K,@F%/_
MM$5*M_1T14^_IN]G^CXZW*^[9\G7 MDLD$6!;#/B_7;$B+EL,-Z RYHG4G&XZA1K3@3"1W!TI:
M]WZ61$)M?7ATL8Y7*B86^_F!+*^T^ =02P,$%     @ XCJD2*/\\>NQ 0  
M%@0  !D   !X;"]W;W)K&ULA53;;J,P$/T5RQ]0
M TG:;$20FJZJW8>5JC[L/CLP@%5?6-N$[M^O+T ABI07/![..7.&L5 ?2O:F5%M2ZK6Z(Z330*I $)UF2/!)!F<1%
M'G)ONLA5;SF3\*:1Z86@^M\)N!J..,53XITUK?4)4N1DYE5,@#1,2:2A/N+G
M]'#:>40 _&8PF$6,O/>S4A]^\[,ZXL1;  ZE]0K4+1=X T[,%/;M/WTST372X65;?;NX+
M;">!;138KEK\MFXQ8DXKS#ZY7V1W562W$DAO%EECKC\%60Q.@&["^32H5+VT
M<6YS=KX"SUD8_!>\R#O:P"^J&R8-.BOKCD^8=:V4!67 N6G=)YPV'VOKP
MR<4ZGMNXL:J;;N'\*RC^ U!+ P04    " #B.J1(PZ-)&J,!  "Q P  &0  
M 'AL+W=O<.>-+,:%^,1V ):]*]N9,
M.VN'$V.FZD!Q])E@:.5
MHHB'7^.^L^=;2$[?QHOX]3.O<
M7[F!1Y1_1&T[9S:AI(:&C](^X_0#YA&.7K!":<*75*.QJ!8*)8J_QE7T89WB
MGRR=:1\3TIF0KH3[)!B/C8+-;]SRLM X$3-P?W:'DX-K+^*4B0EJ.D[OC!I7
MO96'^ZQ@-R\T8R+ELL.L".;4/VR1TCT]W=#3S^G90L^BPVS;/3]^+I O GD4
MR'H84N'8V[BE:W6]G0_A$-D;O"P&WL(OKEO1
M&W)%ZTXV'$.#:,&92.Z.E'3N_:R)A,;Z\*N+=;Q2,;$X+ ]D?:7E?U!+ P04
M    " #B.J1('9G^W*,!  "Q P  &0   'AL+W=O>]GI=Y]\EP?<>(M (?*>@7J
ME@O< ^=>R#7^F#2_6GKB.I[5'\.TSOV9&KA7_"^K;>?,)AC5T-"!VSO8[?3?3=]'A;MT]W_\ND,\">13(-R/>;D>,F-,6\[T)6>VI -V&JV-0
MI09IXY8NU>5VWF7A3+[@9='3%EZH;IDTZ*RL.]EP#(U2%IR)Y.H:H\Z]GR7A
MT%@?WKI8QRL5$ZOZ^8$LK[3\#U!+ P04    " #B.J1(A_%&D[$!   6!   
M&0   'AL+W=ODM;8[4&K*%B0S-]B!!58$D!0.!P3#;)U'CA36M]@Q8YG7D5EZ ,1T4TU,?D87,X[3TB
M 'YS&,QB3GSV,^*K+WY6QR3U$4! :;T"<\,%'D$(+^2,WT;-#TM/7,XG]:>P
M6Y?^S P\HOC#*]NZL&E"*JA9+^P+#C]@W$)(6*(PX4O*WEB4$R4ADKW'D:LP
M#G'E-AMIUPG92,AFPET:@D>C$/,[LZS(-0[$=,R?W>;@[email protected]=!
MC>M>BLW=?4XO7FC$1,IIA9D1U*E?M%?L"+O&,-_&*ZX]POE74/P#4$L#!!0    ( .(ZI$@]PYDFI0$  +$#   9    >&PO
M=V]R:W-H965T
M5HIRR)X]T( 5/XAMANS?QP\@$$7*!7@VT#B3!29HDUT10)G%9A-J3+@LU6,XD/&ED
M!B&H_G\"KL8CWN&Y\,S:SOH"*0NR\&HF0!JF)-+0'/'M[G#*/"( 7AB,9A4C
M[_VLU*M/_M1'G'@+P*&R7H&ZY0)WP+D7T(Z$=*%<),$X[%1L'E/+2T+K49D>NK/;G=P<.U%G#(R04W'Z9U1XZJ7H85*E!VKBE2W6YG;=I.)-/>%GTM(6_5+=,&G16
MUIUL.(9&*0O.1'*58]2Y][,D'!KKPU\NUO%*Q<2J?GX@RRLM/P!02P,$%   
M  @ XCJD2"Z# VBF 0  L0,  !D   !X;"]W;W)K&ULA5/;;J,P$/T5RQ]0$Y(V3420FE:KW8>5JC[L/CLP7%3;0VT3NG^_O@"%
MJE)?\,QPSIDSOF0#ZE?3 %CR+H4R)]I8VQT9,T4#DIL;[$"Y/Q5JR:U+=*IIGH?:L\PQ[*UH%SYJ87DJN_YU!X'"B&SH57MJZL;[ 
M\HS-O+*5H$R+BFBH3O1AXMBJL0_RS/XRTKPGI2$AGPGT2C,=&P>83MSS/
M- [$=-R?W>;[email protected]^>:PS]C5"XV82#FO,#.".?4O6Z1T
M34\7]/1[^G:B;Z/#[;+[7?*]P&X2V$6!W6K$^_6($7->8PZ?FK#%GDK0=;@Z
MAA38*QNW=*[.M_,A#6?R <^SCM?PF^NZ589GVZ^ 0  >P0 
M !D   !X;"]W;W)K&ULC539;J,P%/T5RQ]0LX56
M$4%J.JK:AY&J/LP\.W!95!M3VX3.W]<+4(@B95ZP?3G;%==DHY ?J@'0Z(NS
M3AUPHW6_)T05#7"J[D0/G7E3"
MB4&SMH,WB=3 .97_CL#$>, AG@OO;=UH6R!Y1A9>V7+H5"LZ)*$ZX,=P?TPM
MP@'^M#"JU1[9["!+L;UOJQH0-,"JAH@/3[V)\@:F%G14L!%/NB8I!:<%G"D:$WE77;*702VLRH&ZA*" TF1'!G
M6FW,GV Y,*BTW=Z;O?27PQ^TZ.>KOOQO\F]02P,$%     @ XCJD2& L&(^Q
M 0  %@0  !D   !X;"]W;W)K&ULA53;;IPP$/T5
MRQ\0 WM)NF*1LHFJ]J%2E(?VV0L#6/&%VF9)_[Z^ ('52ON"Q\,Y9\XP-OF@
M](=I 2SZ%%R:(VZM[0Z$F+(%0FBUSUEC,);QJ97@BJ_YV J^&(4SPEWEG36I\@14YF7L4$2,.41!KJ
M(WY.#Z>=1P3 ;P:#6<3(>S\K]>$W/ZLC3KP%X%!:KT#=:,1$RFF)26<$<>HW2V1X3<^6)>[3-Q-]$QUNEM7W
M^_L"VTE@&P6VJQ:?UBU&S&F-^7:_R.ZJR&XID"8WBZPQUU^2+ 8G0#?A?!I4
MJE[:.+Y!UMX!?5#9,&G95UQR?,NE;*@C.1/#@7K;ND\X9#
M;7WXZ&(=SVW<6-5-MW#^%13_ 5!+ P04    " #B.J1(_,^,HK$!   6!   
M&0   'AL+W=OD7TP%8]":X
M-$?<6=L?"#%5!X*:&]6#=%\:I06U[JA;8GH-M XDP4F6)+=$4"9Q683:DRX+
M-5C.)#QI9 8AJ/YW J[&(T[Q7'AF;6=]@90%67@U$R -4Q)I:([X/CV<)=IV0381L(7Q+0O!H%&(^4DO+0JL1F9[ZV:4'!]=>Q"DC$]1T[-X%
M-:YZ*;,T*\C%"TV82#FM,>F"($[]JD6&M_1L;?$Y?3?3=S'A;NU^]P6!_2RP
MCP+[38N[;8L1<]IB]I^;Y!],\HU ?M5DB[G]8$)6@Q.@VW _#:K4(&V
MVWBPJI]?X?)74/X'4$L#!!0    ( .(ZI$ABS^Y('@,  !X.   9    >&PO
M=V]R:W-H965TJ9UXVH?.
M9/+0/F-;MID <@''Z=][email protected]@':46+^;BLWOV2#HK,;NH^JTY2MD&'V51-?/P
MV+:GQRAJMD=99LV#.LE*_[-7=9FU^K$^1,VIEMFN#RJ+B" 41V665^%BUK][
MJ16E&]T%7_$:IM^[AQVX>HJX&6[FZ_$W6R)4J?N>[]JBK16&PD_OL7+2OZO)=&@V\2[A5
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M;,%+ QJX.B(?*H( %;%<1IE'"@PFDN"I$TF@=PCQF$@#,BW6.GGOH7#OH?:)$#1B9HY1%H@A%VC])6@H)AH=
MFT_90?[,ZD->-<%&M?H$WA^7]TJU4J="#WI%'?7'VNVAD/NVNQ7ZOAX^7X:'
M5IVN7V.W3\+%/U!+ P04    " #B.J1(6E[^7-H!  #@!   &0   'AL+W=O
M(STG9>GMG:J\@S/BC:=O JD!P8
M(^+?$2@?#][.FPMO;=TH4_#SS%]X9@%(CI(T_)LV+I2&NY[/Z#]NM3G\B$EXX
M_=N6JM%A P^54)&!JC<^_H2IA=@(%IQ*^XN*02K.9HJ'&/ET8]O9<71?'H.)
M=IN )P)>"-@%=T8VYG>B2)X)/B+9$_/?[?8:+HR(5D;2J@G7O0XJ=?6%XAF@<@)1!N!:-MD
MZE(Z3&NR_L9')ED6SZB&]Z)"N/;SBX;Y)>
MF:0;D^3F9J7KS7J,KDS\U1%D(&I[TR0J^- I=P*7ZG*9G[$]PA=XGO6DAM]$
MU&TGT8DK?1'LJ:TX5Z!#! ]Z.QO]W"P+"I4RTU3/A;N!;J%X/[\GRZ.6_P=0
M2P,$%     @ XCJD2-KSZM'& 0  UP0  !D   !X;"]W;W)K&ULE53;;J,P$/T5BP^HN89L1)!:JJK[L%+5A]UG)PP!U<;4=D+[
M]_4%6$#1ION"/>-SCL^,C;.>BS=9 RCTP6@K]UZM5+?#6!YK8$3>\0Y:O5)Q
MP8C2H3AAV0D@I24QBD/?WV!&FM;+,YM[$7G&SXHV+;P(),^,$?'Y )3W>R_P
MQL1K \PQ.O;!BTLN$M$E#MO?M@5Z0&80&_&^CE;(Z,]P/G;R;X6>X]
MWU@ "D=E%(@>+E  I49(;_P^:/[=TA#G\U']R5:KW1^(A(+3/TVI:FW6]U )
M%3E3](A1C[1BG&;X8
MH0$36LS# G,-42P0T03!VL!5%^'H(G8NPAD_2+XA$(T"+KR/%F5L;PO$*P?Q
M0N#'LLK4]<%A6HN)MO$U3#''!(%_VTBR,I+,C23?$-BL6K'YWU:D*P?I[584
MZ:S,<+L^,#R[@QTYP2\B3DTKT8$K?9WMW:LX5Z"5_#M=<*U?F2F@4"DS3?5<
MN!_/!8IWXS,RO67Y%U!+ P04    " #B.J1(!I@7IL\!  "0!   &0   'AL
M+W=OC^?7T!0B*D]@5[AG/.G(&QLU'(=]4":/3!*%?'H-6Z
M/V"LRA8840^B!V[>U$(RHDTH&ZQZ":1R)$9Q%(9[S$C'@SQSN5>99V+0M./P
M*I$:&"/R_S-0,1Z#73 GWKJFU3:!\PPOO*ICP%4G.))0'X/3[E"D%N$ ?SH8
MU6J/K/>S$.\V^%4=@]!:  JEM@K$+!K=&O,A@&JH"8#U6]B_ E3"\YA*:AR3U0.2@LV4P+$R(=?.^[6T;_9
M/TVT;4(T$:*%L-39)L03(;X2$M>I=^;Z>B&:Y)D4(U(]L3][=S!P:46,,E).
M3?K/93I3)GO)HW27X8L5FC"1PSRO,5<$-NJ;):+@EAZM2VP5*&X0\=<5XKF"
M#T_QVF#R#8%D%DB\0'+S%>Y,/OHV/(8[3!+OXTU4L4:E\3X*OS:3WIE);\S$
MFV;259G[7X)7$\! -NYD*%2*@6L_ $MV.7RGR$W0%9YG/6G@-Y%-QQ4Z"VWF
MT U-+80&8R%\,!Y:&PO=V]R:W-H965T]<22/1-E8JP=I;9GLOWW]5=2
MBPT2JI?X(R1?2GX?R/+Z[)KO[<':+OI15\?V>77HNM-3'+>O!UL7[2=WLL?^
MG[UKZJ+K+YNWN#TUMMB-2745@U(FKHORN-JLQWM?F\W:O7=5>;1?FZA]K^NB
M^?N+K=SY>:57EQO?RK=#-]R(-^OXFK,&KM_7GW63UO*AI QXH_2
MGMO%>30T_^+<]^'BM]WS2@T]V,J^=D.)HC]\V*VMJJ%2K_S77/1?S2%Q>7ZI
M_LLXW+[]EZ*U6U?]6>ZZ0]^M6D4[NR_>J^Z;._]JYS$D0\%75[7C;_3ZWG:N
MOJ2LHKKX,1W+XW@\3_]D:DZ[G0!S EP3--U-P#D!64(\=3:.Z^>B*S;KQIVC
M]E0,3UL_]>'-4*2O'+5CM6::KGYD;7_W8P,)K>./H= < V/,%R_F5L36B\!K
M2-PW<+,+N'0Q77X&KXOD<0&\%*"I 'H%C-]D.@UCBCF.,80&!7T2DR%/)O5E
MS"1#"QDMT$B81N)I9#BQ@F8CR1_*:(8?,%MV9UNXQ*T(!ZW$S*
MFDF7S1AULYET(8-I(GEX&9/)/!E]4R9;R!B5YX]5\BM0:I+)E\__<;Y6C(6A
M3A@,6K.1:GT/AWFH<]#4:&I0TBMP(1  ,0=-0@)[: ZW1@[email protected]:!$QH
M"I\T#KA.!'[72\03 P+&-8=<&X'C]1+@?HU/!4(<8.T3#((2&7=]%NSZG'>1
M2UR_Q).4%O0*B@F!$KA^#A+[$3C$H 6N!QVHP@D&$+@>('S2.,2  M<#^F84
MV  XQT "UP,%NQXXQ^!S+'GM,0$HQ*X'E7PI"&'&+7 ]:C#A3C'" +78^!*C%>(+R\WZ $J
MJ$#,\4BACD?.'28"QV/BS:E2DF;Y HI&8'E<+J"2%W[D"&,J\#PN$1:]\R,G
M&#.)ZS,V<8)7'.048RZQ_9)BU+D2^)XXR:0$OB?EK5^YP O$22:?9,'\$]_E
M4O VE_@J2G-W2S2QQFDFQW*7B_2QQEDNQXR81[GSC-
M)-G.4OH_O,]YIKL[VOFK!V7WO1\OOA>=BC?[>]&\E<G%=Y^KQ.]'>N<[V
MM=2G_CD<;+&[7E1VWPVG:7_>3!_)IHO.G2[?_*X?'C?_ %!+ P04    " #B
M.J1(8@@ \]P!  !]!0  &0   'AL+W=O5%KM17OMA"&@M3&UG;!]^_H %%"TR=[@
MT\S__1YCYST7;[(&4.B=T5;NO5JI;H>Q/-7 B'SB';1ZI>*"$:6'XHQE)X"4
M-HE1'/A^@AEI6J_([=R+*')^4;1IX44@>6&,B+\'H+S?>QMOG'AMSK4R$[C(
M\917-@Q:V? 6":CVWI?-[I"9"!OPJX%>SOK(>#]R_F8&/\J]YQL+0.&DC +1
MS16>@5(CI,%_!LW_2),X[X_JW^QNM?LCD?#,Z>^F5+4VZWNHA(I ]DATQ9[?9Z7!A1+0RDE9-N-UKHU+/7HL@B7-\-4)#C$LY+&*B8(K!6O\F
M)!@AH8,$J8IS!5K+?](G
M6.NWH!
M  !4!0  &0   'AL+W=O@&*%)-_C".W'T&BF' X3BTI .BRVVDGH!%#A=?U7:D%RWK
M 2?UT7M!AS+1"B/XV9)1K/I LY\9>]>#[]71\S4"H>0B=0)6S9V4A%(=I!;^
M/67^6U(;U_TY_:NI5M&?L2 EH[_:2C8*UO= 16I\H_*-C=_(5$*L R^,"O,$
MEYN0K)LM'NCPAVW;WK2C?1.EDVW?$$R&8#&@Z%-#.!G"C0%:,E/7%RQQD7,V
M C%@_;'10VBQ,ZN;/^ "64M2N,P>XR2
M;% 2!V5W[T_):A64^EFR^X5<591N]P6N#L" K^0'YM>V%^#,I#I+YL>O&9-$
M9?E/JK!&77'+@)):ZFZJ^MR>>CN0;)COL.4B+?X"4$L#!!0    ( .(ZI$@:
M0=MPL0(  $,+   9    >&PO=V]R:W-H965T>;B11X84]%;VW1R%1^4.BZ21&X.K*7RCA]9I[_LN&BITEVQ3^11,+KM
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M^"K('%/()-T2A'>_RD$5&,Z1XQ?@X=E$ ^N63
M3*X[1[IG/ZG8UYV,GKG2-Z?^FK/C7#'-!>YT&1WTC?;2:=A.F2;1;6'O>+:C
M^'&\LE[NS>M_4$L#!!0    ( .(ZI$B(CW;K"0(  -<%   9    >&PO=V]R
M:W-H965TQVKBO*
M&E,DGEB'6_7EPCA%4FUYY8J.8W0V)$I&VJ6NJ FV?NS#LW%+>B82W@^+)W#OZN2#7" 'XV>!"+
M-=#>3XR]Z]5"(P8:S'&)\6>$J]0W4T!G38?+%%L)BB4B?GZ<(9@R
MV.TA6&9(PL<"X2006H%P=0K!VF1BR["8UIY"'/E;H&(%"OWHL97HSDJTLA*N
ML\362K3($L)@"U,L,<\^?&PDOC,2KXS\0R7)75>2_^U*>N<@_>PHQJZDBS(_
M_+]C4])/C\)=7!B*>64&B0 EZUMI?^8Y.L^J ]07[BY^5#/,CIR;3)YUJ,(_
M$*^:5H 3D^HZF[MW84QB9&PO=V]R:W-H965T]7<&F$G[X,]T(<'J*(K_>T(_R>
M'6@OO]FRH2-"#H==Q \#)9LQJ&LCC.,\ZDC3AZO%^.QY6"W84;1-3Y^'@!^[
MC@Q_GVC+3LL0PO.#G\UN+]2#:+6(+G&;IJ,];U@?#'2[#!_AH<9424;%KX:>
MN'8?*/,OC+VJP??-,HR5!]K2M5 IB+R\T9JVKFJ@2/MZNN395J0 JT< ;L4!H.T"/=ID%LW]7*3NIC=5>>F!-[#Q
M!(E'HX".GKNB2MQV3%7BL\ VH"#U:!G0V5.E3L^U*P]D1W^0
M8=?T/'AA0IZ@Q^/NEC%!9:;X7A)G+]]L+H.6;H6Z+>3],)WUIX%@A_.KR^7]
M:?4/4$L#!!0    ( .(ZI$A5Q]U5QP$  $ $   9    >&PO=V]R:W-H965T
M<4_7G DP.
M)QSC*?'6UHUQ"9*E9.:5+0>A6RF0@NJ$S_$QWSJ$!_QL8="+.7+>KU*^N^![
M><*1LP ,"N,4J!UND -C3L@6_CUJWDLZXG(^J7_UW5KW5ZHAE^Q76YK&FHTP
M*J&B/3-O+ WN_L/B
M=A+8!H'M0N 0/WKYU_&ME?4$L#!!0    ( .(ZI$B6DV0A^@$  !L&   9
M    >&PO=V]R:W-H965TV$[NUG8V 8H:'>X _..;^_P9BT9_Q=5(1(Y[.A
MK3BYE93=$0!QK4B#Q1/K2*ONE(PW6*HAOP'1<8*+P=10X$$8@@;7K9NEP]PK
MSU)VE[1NR2MWQ+UI,/]S)I3U)Q>YT\1;?:NDG@!9"F9?43>D%35K'4[*D_N,
MCGFB%8/@5TUZL>@[NO8+8^]Z\*,XN5"70"BY2IV 5?,@.:%4!RGPQYCY#ZF-
MR_Z4_C*L5E5_P8+DC/ZN"UFI8J'K%*3$=RK?6/^=C$L(=."543%M=2-9,
M%M=I\*=IZW9H>W,GAJ-MV^"-!F\VH,-_#?YH\%<&8"H;UO4-2YREG/6.Z+!^
MV>BHY%R'J&1'#&G5NJW%;%B\=OB@&+[[C#-_(3\UO="N?"
MI#H2AN^W9$P2E06?U&:HU$D]#R@II>Y&JL_-X64&DG7343S_#[*_4$L#!!0 
M   ( .(ZI$A\)\ Y.0(  /$&   9    >&PO=V]R:W-H965T94&I E^LJN7.*Y1JMKXOSP5E1+[PAM;ZR94+1I1>
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MML-*<.;W6KE_^; [=/$]-IUHMG\PW=UVJ(=,GC7D1G\3<2MK"4Y&PO=V]R:W-H965TU%I=%@AJ*F-WCA
M/__YCK=BX.)=UI2JX*-EG3R$M5+]'@!YJFE+Y!/O::?_7+AHB=)#<06R%Y2<
M;5#+ ((P RUINK L[-RK* M^4ZSIZ*L(Y*UMB?CU0AD?#F$43A-OS;569@*4
M!9CCSDU+.]GP+A#T<@B?HWV%C<(*OC=TD%X_,.Q'SM_-X.OY$$*#0!D]*>- 
M='.G%67,&.G$/T?//RE-H-^?W#_;:C7]D4A:;5+R=0L*@)1^N;3K;#NY/#L>P[0 T!J Y($K^&1"/ ?$J
M #@R6]+)('$&\:*,? F)71E.TUE-DD1H
M2U0M1#C'CU&2%4JR0-DMLV0.)?&R9"C9TE2^9H?08Y!T!9+Z(!')K8@0?@V0KD&P!$FV"9'X2F&\N6[401?@_S@E>H6 ?9;=Y3+"7)/]K \=C
M@A>; ]=''GB7L"=7^HV(:]/)X,B5OL_V\ETX5U1;P2>]OK5^9N\_ U02P,$%     @ XCJD2$3F].J  @  , H  !D   !X
M;"]W;W)K&ULE5;;CMHP$/V5*!^P\2470"'2 JK:
MATJK?6B?#1@2;1*GMB';OZ^="QM;H1@>B!W.G)DSFH.=MHQ_B)Q2Z7U692W6
M?BYELPH"<B/+]Z+YR>UOXK
M7.U0!^D0OPK:BLG:T\7O&?O0FQ_'M0]T#;2D!ZDIB'I!T/;)_Z^2J\O=$T"TK?Q='F:MJ@>\=Z8E<2OG.VN]TT!!IP@,K1??M'2Y"
MLFH,\;V*?/;/HNZ>;?]+E QA\P%H"$"W !C^-P / =@U(!P"0BL@Z*5TC=@1
M2;*4L]83#='C 5<*SC6)8O9$Q\;[_JI6"/7VFF&(TN"JB08,ZC ;$X/G,-LI
M9I9E9R"^2 )5Y&RE:*P4]Y4BHXKP,0$>"?KM*YX0A):*I%?10^H>@N($J,\<
M<&94"Q-F>'@)P.$')1":.3L,
MH,'[V-4/T+8>-+R'DGE1)LAAIJ%M/&@X#]T920.$7?38[H.&_?"=D31!+B.Y
MM/,8+L4N)PFP1A*!9T<2V09$T&$D+9 ]DL'DJ&[(F?XD_%S4PMLSJ4[][H@^
M,2:IH@(O:NIR=7V[;4IZDGJ9J#7O+S3]1K)FO)_=+HG9/U!+ P04    " #B
M.J1('(6I%LD!  !!!   &0   'AL+W=O&BM3&U3=C^?7T!0E9(^X(]
MXW/.G/&%=!3R734 &GUPUJD3;K3NCX2HH@%.U9/HH3,KE9"<:A/*FJA> BT=
MB3,2!L&!<-IV.$M=[E5FJ1@T:SMXE4@-G%/Y[P),C">\PW/BK:T;;1,D2\G"
M*UL.G6I%AR14)WS>'?/8(AS@=PNC6LV1]7X5XMT&/\L3#JP%8%!HJT#-<(,<
M&+-"IO#?2?->TA+7\UG]N^O6N+]2!;E@?]I2-\9L@%$)%1V8?A/C#YA:V%O!
M0C#EOJ@8E!9\IF#$Z8"VSKBG;F^
M7JBF62K%B%1/[6'OC@8NK8A11LJI2;]=IC-ELKJ;)4+\2 ]7]'"K0+Y&'+Y]72&:*_CP'*T-'H*O!>)9(/8"\<,N[!]-)KX-
MC^D\)@FV,/D:$SX_?S)"5D?#0=;NRBI4B*'3?MN6[/(JSJ$]VD_YBWDM_G+?
M9;*TIS7\HK)N.X6N0IN+XTZY$D*#,1<\[3%JS'M> @:5MM/$S*6_XC[0HI\?
M[/+7R/X#4$L#!!0    ( .(ZI$B>LWHQ 0(   P&   9    >&PO=V]R:W-H
M965T^*8=+IINA>;-+W8O69&
M'$U17&#&[MLOB%HT)LZ-?'C^YW=0Q*QG_%-4A$CGJZ&M.+J5E-W!\\2E(@T6
M3ZPCK;I3,MY@J8;\ZHF.$UP,10WU$ "1U^"Z=?-LF'OG><9NDM8M>>>.N#4-
MYO].A++^Z$)WFOBHKY74$UZ>>7-=43>D%35K'4[*H_L,#R<(M&10_*Y)+ZR^
MH\.?&?O4@Y_%T04Z Z'D(K4%5LV=O!!*M9,B_QU-OYFZT.Y/[J_#@L0#-!<@$-Z AY@\L<9YQUCNBP_KEP8.2A54J-E[
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M.J1(]4;67C #  #]#@  &0   'AL+W=O.\O
M?NXW?MCGP&N^4SU%J0\?_)G7=<^D(_\=2;]B]@NGYS?V[X-W72V8:^M^>'\E*K5W']P4<-K"?.11P[N>1#-["0070CB Q!
M9!& +3(V61I,.V" )!!%RW$8BL.L.'29($9*X[5*$Y1!8A%$MM+$*$TF2FE(
M0OU9#I2B0*D5B-F!#&9K8^+E(!D*DED$R3(!"=$#[7VY[HD2@I(@ED6B=%8J
M F4.<0#'L7S"PME=.H),\9A3Y0C%@2P_,3*[24;0Z ?'2-AW9&H\H,R!@N$"
MLM4%C'$6EJO8O/U'D-'KHA4[CR0.CK!!S*%#$&P\8KF*S5M\!!DU*0FI6_VP
M_XAE0.90/\ &A-4&!&Q ( [U&T&W_JUWK$/_!NQ! (ODQAR8*V(.PVH. /0BV!]/Y&DX]"/K51"*7+8>="+;)''HQ
MI%AQNEHQ]@Y8WHG#^:UD@QSBT!#%H9;!8G"@($@M)6O54FP<:AMGWJ-T^O)*
M,I:Y[$:*O4,M[\0./91&6'"T6C#^JT>90U,:049P'&5A["(8>X=:WHD=^AI-
ML.!DM6#\WJ&IB^!TJ0L'D_&DX=UQF,*DMQ.75IGIY'[W/ND]P3#>?,&+_%P>
M^:^R.U:M]-Z$TD/2,-$&ULE99=;]L@%(;_BN7[V8 _P)%CJ3JEYLUS0A
MB57;9$":[M\/;,<%Y,K>30SXG/>/B59X94\%[VW1R&YZ5NFSB6.[/
MK*4RXA?6Z3='+EJJ=%><8GD1C![ZI+:)$0!YW-*Z"ZNR'WL256U;*OX^LH;?MB$,[P//]>FLS$!V8TUCE#3YSRCZP32)=ONN_JV?
MKB[_A4JVX\WO^J#.NEH0!@=VI-=&/?/;=S;.(3.">][(_C?87Z7B[3TE#%KZ
M/CSKKG_>AC<$C&GS"6A,0%/"Q)E/2,:$9$I ?4(\5-;/ZRM5M"H%OP7R0LUN
MPXT.%T9$*P>R5Q/#!E1')'#-V'Q!$@RP+I72 =!%)'H'"KS(=Y##%='T-2D@*P
MS,D\3F9S4C3+R2P.@ABEZ3(G]SBYS<%@EI-;G"]%AI)E#/8PV,' 60RV,02B
M90KQ*,2AS"\:L2@09%D"BF50X8$*!Y3,@@I[=PI"BFR9 X'WO9K_((NT8H,A
M]&J%CB^QY^YB=#>TEP5&< 4(^2#'G3AW01".)&21LBA90TI\DF-CC#\A)?:<
M(KAF_7V[0\?OF'Q"LAV/(K+"(- W/'0)IXGD['6MV@9"YHYP7Y5HJM([-EXM1?)62PY]=.
M#2?F-#I=5QY0?^1^A%?EA9[83RI.=2>#%Z[TP=V?LD?.%=-5@$AOX%E?J*9.
MPX[*-+%NB^&*,704O]QO3-.UK?H'4$L#!!0    ( .(ZI$@/%F#W2P(  " (
M   9    >&PO=V]R:W-H965T9@;$G:<5D0\L8;6ZLF%\8I(M>173S2@)6OW+G3[C;?BFDN]X66I-_B=BXK6HF"U
MP^EE[S[#W0%B;6(L_A2T%:.YHX,_,O:N%[_.>Q?H&&A)3U)+$#7%?R2"OK#R;W&6N8H6N,Z97LBME&^L_4F['$(M>&*E
M,+_.Z28DJWH7UZG(IQV+VHRM?1*#SFW9 74.:'! QL&S(!/F=R))EG+6.J(A
M^N/!G3+G6D0I.\*H<9N]"E2HW7OFQV'JW;509V-=#F,;.%AX2GT1@=RI.YH@
M\+J WPL$-D9_(A"M"P2]@&\%@HE O"X0SB(()P+)]"UAFZ:UJ>U; K$?)?XZ
M",] > Q*P"((CT!@'1'-$-$$ 1<1T0CQ+<[email protected]<>,:))QRTR(G''!P%ZY1D
M1DDF%'^1DHPH21(!O*&$()B!] E_D,)P@P2T/:'Y^87AAF*$X1X$/NT,S?$:F SS,L[0A5_J;\&M1"^?(I.HCYM*_
M,":I"@0\J71SU:Z'14DO4D\C->>V@=F%9$W?CX<_!=E_4$L#!!0    ( .(Z
MI$BQ2K#56@(  '0(   9    >&PO=V]R:W-H965T'(FM$9<+.G%8RW%
MZ*1(=>4%OA][-2H;-TO5WCO-4G+E5=G@=^JP:UTC^F^/*])M7> .&Q_EI>!R
MP\M2;^2=RAHWK"2-0_%YZ^[ )@>QA"C$[Q)WS)@[4OR!D$^Y^'G:NK[4@"M\
MY#($$L,-Y[BJ9"21^6\?])Y3$LWY$/U5E2OD'Q##.:G^E"=>"+6^ZYSP&5TK
M_D&Z-]S7$,F 1U(Q]>LJ"X3HV^]%@V:NSTDY7?T^8)04\(1L*89YX 
M>P*\$T)5J5:FZOJ!.,I22CJ'M4C^VV CX%0&$9$=IJ)1;9>HC(G=6P;78>K=
M9* >$RC,WL2 $>&)Z+,I G=*#PQZ,)<@-Q'Q^G$&.&30RQV<%!$]#A . 4(=
M(#0EQLE49*++T)A&NP#A+"@W00MT1):.R-"1+.#'EA'QLT8DEH#D.R-B;41B
MU!C.0G(3XC]6L;)4K$P;5H_Y:\N&];,V -]2("^ AT;TH/Z5 BBEH@11@
M2S&/7[+@=(# L@,$3_L!;1%PB1_0*#4P#O+$#_BD'_99!>9A72UXNT!D^Q$]
M[4=LBX@7W!@]2)>Z!O[LC3$!04N*9USF-:87U>28BD;YAP(%ZU&]84S(1P+;?Z+,*H0GP#CHL)G+J>)
MF%/=%/6"DW;H\>.'1O8?4$L#!!0    ( .(ZI$C5-"M5-0(  +T&   9    
M>&PO=V]R:W-H965T<:DY3NW
M$J+;>AX_5;A!?$,[W,HW%\H:).2273W>,8S.FM00#P(0>PVJ6[?(=>R%%3F]
M"5*W^(4Y_-8TB/T]8$+[G>N[8^"UOE9"!;PB]R;>N6YPRVO:.@Q?=N[>WY:9
M0FC KQKW?#9WE/.\,+NA'Q2OOO>"@A4H(G2KA^.J<;%[09*:[3
MH'>_,F!0-MG0 ' IP(4YYU0C 0@@T=WB'U,?V
MMQ+.E(A4=KA68V:[9&5<1N]%D,6Y=U=" P9JS&&.\2>$)]574T#7IL,9':XE
M*.>(.'N>([email protected]^L(I(G@N$HT!H!$)+(+5-)J8,@VDUYHN?@!BNP4H;%L$D
M?&XG6M03678^L2'QHIYX)A "8!N-33WQS"@,LR@! *X!RSG0CP(_#3+PW%*R
ML)18EOQ52\DLTZKIT@_NR_I?^U+MK"4698".U-F+&7S
M,P4V\>H!+2W4\C_U9FVAP>RJVR5W3O36"O/+3M&I(^^A:BN+^$%V:M-8'S)%
MWJ$K_HG8M6ZYAIHF<,]->S4+0;KPL
MIANK^ =02P,$%     @ XCJD2.*CS-4K @  < <  !D   !X;"]W;W)K&ULE57;;ILP&'X5Q ,4;,! 1)":3M-V,:GJQ7;M$">@
M8LQL)W1O/Q^ @E4IY"8^\'\G.?Y=#(R_BYH0Z7W0MA-[OY:RWP6!J&I"L7AB
M/>G4ES/C%$NUY)= ])S@DP'1-H!AB **F\XO"[/WRLN"767;=.25>^)**>;_
M#J1EP]X'_K3QUEQJJ3>"L@AFW*FAI!,-ZSQ.SGO_&>P. .D24_&[(8-8S#UM
M_LC8NU[\/.W]4'L@+:FDIL!JN)$7TK::22G_'4D_-35P.9_8OYNXROX1"_+"
MVC_-2=;*;>A[)W+&UU:^L>$'&3,DFK!BK3"_7G45DM$)XGL4?]BQZZ\,#.U7.-8EB]H1AXS:],BK4[JV,
MP[@(;IIHK+&0P[(&S!6!8O]2 OIK.%S HPS=)X@F@LAZC%8>D_L$\4006X)X
M18#6(9%U:6LZ4P,ARO)X0]3$$4I60NE] N1$18]&31T'Z8:HZ2(J"),D"O/[
M0IDCE"V$8+3A5',G:OYH5! Z%O2ENQMV+.JFH@VG"H K!%9AMWB%3EH 'XX;
MN2ZB+7&C1=P\3T.TX5\(W L#UC&PO=V]R:W-H965TV$[;^O/X"8B&V;0VP/[[UY
M,[(G[[EXDS6 0N^,MG(;U$IU&XSEJ09&Y!/OH-5?SEPPHO117+#L!)#*DAC%
M<1AFF)&F#8K(L$G+?!+MH<,H.P@!\-]-+;(^/]R/F;.7RKMD%H+ "%DS(*1"\W*(%2
M(Z03_QHT[RD-T=^/ZE]LM=K]D4@H.?W95*K69L, 57 F5ZI>>?\5AA)61O#$
MJ;3_Z'25BK.1$B!&WMW:M';MW9?D\T!;)L0#(9X(4YYE0C(0DCLA_2LA'0CI
M P&[4FPC#D21(A>\1[(CYG9$&PT71D0K(VG5A.NO;H74T5N1ANLNW#/K2S>K"SFMF)YGD<9C_'Q$N8
M;
M%_$0WT>;T@V1NTR1=^0"WXFX-*U$1Z[T>[./X\RY FTM?-(MJO7N%'B#HIWXV"D";6?__8*H%>*V]J4*/>?<9N\BRJ.D[]\2EJ@C_NZ(ENRU\X'<3'\7Q)/5$D&=!S]L7%:U%P6J/T\/"
M7X+Y!H8:TB!^%?0F!N^>-K]E[%,/?NP7?J@]T)+NI)8@ZG&E:UJ66DE%_M.*
MWF-JXO"]4__6+%?9WQ)!UZS\7>SE2;D-?6]/#^12R@]V^T[;-<1:<,=*T?QZ
MNXN0K.HHOE>1+_,LZN9Y,_\D'6V< %L"[ DP?4B(6D)T)X"'!-02D$,(S%*:
M1&R()'G&V.&82
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MP\-O]_#X0U&4P=?=-BW^^.2V+/?/GCXMEK?Q+BIZV3Y.XS)3W\HDI_^4/[T
M,EM6NS@M@RA=!:_2,BGO@S%+=1'A=_>%K^](>G^ U_-PK>96EY
M6\ WJWA5?_LNRGO!:! &P_Y@6G]YL8>7PX7_I9C"OU[<%&4>+72;&,ML%_CJ,\N(2'#C3%JC_&FP27#9^\CW;.<#"-[,5MEBSCX)^R
M[2I)-T4(F[7L-73W L;.8=PWL$5?@W^.[^OM7E1Y7I]?TUK/SP?#\]'@T!H%
MQ+RK_+/SM9CH9;*-\^ %C+K)6[[/T/%HN8V@#+5;/:->P(MCM38+]\=#>5J^S;'67;+?N)NZS(BG-Q6[55-N6ZW\G
MMWV;1#?)EI;F[/W%!7?\%;1X, I<+DMX^+& KX6:A0Q]\9/DG29
M[>*@C+ZZT_A0V\.6&?/2VF )_"4I$?-X$Y8@!(&MQ.D2&@>G[[,R#@:#L]IG
M*,"?%?MH&?_Q"4CH(LZ_Q$]^"AS*1JYU"YP]SHO??_MWPO+RWL$6H$JQZH+9
MW$F_U^\/ 'GR 'A&%0= *"RV?PPF_;#?I_^$( ^[email protected];O/HQ2#/Y-"D*
MQ#!"+,TN@Z@,0,@M;Y4PIQ; Y^+=#0S2R.N8#3?,[\=@T#ZMX3A2E)7?[MIL-J@(%Z7T -I!D#RETD*_22H'R!O12[4K.'9R*.Q^A2@O\JVVR@O-(;7
M2:WVM8-[VASUJ
M:K#)C($O+"Q_"UC>6:$R[0B'.#^R>'+%Z>LW6D%@&JCV^ZV'FT/#?02PW&:;
M^P"Y,JC63J/W(+6$)/2(@X+P.V^:2KV!,X,]T_Q%D
M"?$_7.4*QMAFM&J'&$&5Y,U@72GGXN>BS)\;FB!&X#R#
MFQ@,Y;A5^7BCWD'K% 1#V3PUV:]_8;:PD,O$]BXH+F%:R285ZM/R/D"CLMCR
MED6KGZN"=1@'76]A)['S8!TEDEG!%D=?HF2+FNDY+/B\B%HU=9ZN3?4"#*=(
M_6=A\)XUP4_1UQ D JNE%V69)S<5VP%E%K"L\3#A R)3[8YBK"#J[:Z7!B<7
MHC$,;J(B63(A)=L*N5HW+OT7@/0M-#^/O@ 2 _0D%UU;XP05
? _=DS;\
M7>;Y(!Y-YN;E-KOKSHSIDS5]LLZS79 IH@4IGGQI,&TTLN&*\A@TYB48\'KY
M\!1_D]E+,((Y9$J".!V">0:=) *5D5D9[,BU0&  : 0]+G
M=* I)35^(2#/)DSKX'4^"?/>)=4.Y^.U>+U6:A-%WD4Y^8FDNN=H=& O?TD*
M'!I(%M"XNBG7%;!W86K6FW].\SC:HDZ![6WF<;J)DO3,2VQDLIP#2L8K0FR 
M4.M&)#O0HW.I%G;;"@9!@3!80FN82W"7Y;\@X@EEG(;.4F65,?=F840/.AG?
MN7*4^#F:7[C5;?<006Q9ZZ'I26@V+=\W$\$A2DS2+X"A!RCQA8 530O,FLJC
MM /2+.-X);K=1:5 3=RL3EX:M8@]HM\*%G(#^"-6=.:=Z*'%K=EV:%^E28,?R/XTVQ.YQE_C?)EX-!7O GU3=!R4ZW6\)*R/ORZ9J-&=
M&2P%=F]-WUZB)DQ0"3$0N"DP%$)&$I=QW6(:*/S@;+=6W9CW+!?WS:/G+)@8>&()52Q_S6MG -.=MLXW:94O R+I9Y
MLI=#/*^*)$6G6&,<@/I"UV51W13)*HER\DH]T1\\"0.0!L"*@B>H247I_1/ 
M'V"20"H$U>ZV.Y15RG+* Q>QUF^22*0&$LB
M<<#L;86*V?:>I&Y<@!PALB!7V6Z'1(52AIX%>U!(<:?9B$BS+V1N(&6MJB6L
M @77)@((9BB$D6]$6YK_ZS 0IN"3@)Y(L[@2Z_/-N&VG1D!I_LH@VN
MJXR7MRD^!]CW@NL$^5!I3!"H*TH-:!A\'N$[[/?G(6QB(6:H.7 +"$W@-R\^<:&H*W2= NE4*Y-!7*M4+Y0J/\
M+6C!L,0X175G'^&(2#'!!O9P-
MCTMF+7^J *UQA=8"?__MWP&8K.3BHG8Q2#^$9 9=;33AX#!9#MPPRN\]6X]<
M;A6CZH/*9[5'9;2T.MZ0!P3@4E1KW"QLIS>P:62$0+4M <8ELCUH!E8]*+[@$2QHE'C1477F*&@8[[E?1A/L,U\1MMTEY6WP.4V4
M?5N(7=S""C%FO,,*1"$PJ62ERGDCXR$"S55FPO+ I?
M7BNJX$0)J<)1/*@@,^OT^M6+,_PVRBF^0(9CLC,6!0P1+<)TP_C],'# _+?5
M*E;,JQ+DVZP4G**,C7. R*L75^^,MV_?OD" ( -B$ !<88:DE68I(DK"MC-(
M=YS<#W?S3CP2UCQEHXF5P#5)Q!QL7
M!N]Z+WMBDJNG-T\C\[,K):= ?WFA_WQR=F;SOVA;9 %P=)3YT]D/VF '5#&G
M6N11O.7Y2U"M0=8"&(7
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M").C(ELJG$<-+DG12",KB8)*W"('B@0$F"<0G[5BM%[YV
M34FHKI(ZN(V4;@_6DO",D6^)9+"[Y)MXB7-3WGLDP,T&M80R#O&;P2R5A,5#$.&^PPQ4R=*]0( 
M9&QHG@"D8&@5/^L!G&@@O0 Y;6-V4E<1W870NF\O@G0Q:GMS;\&79/C$2ENR
MVL9?$_9NFQ$[6UM5-(,QK[WE>L:18%O(Y;&'5U^E37FR&(>#.4B$=4DV.)J'
M+(X%D/$/&9*2>6G2+J'=.YF%X_Z$XQ 2C"J9$-_# (L9J";H6:98S16,1.FS
M%"PTLFK)V+/CI)Y(9IV'2160*431!2X5R,+TT3?PFC+S,PEK%-PNT#$XP #]
M%GZA;2Z)(L7G+[8T/'&KM=5M\M..-6&4DP-%+*9D$8CHPG!0I
M$W:6.L'7VNL"2C&B%#E-V$2_(_5)&:\!)6+^N=CO4Z@'PUX;M=*$-]RN8
MU=(35O$T:7&[=Q\'B1:V0:\64R6-3V381BS6=#'('HXR( $-:4-RAB798\9P
MWOXI/'##FBYEG@XEYO[^VW]_SW(M.[REO__V/WRZLJOM2JV\S2]!DT&JL]1I
M9\,Q*;T&^#Q+X;=P2+9LLPP'DQ\FSS-,-0%,$T9U\]X?&A)UI,OX)J\007!/
M6+9>7EP_ERFD%]>?Z@8K.=;)*(2C/0 ;(M#XC]W(#>CNF$Q#!(32:G/W*+TZ0'3 &3
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M9JL(P<-DA;F;Z+%>B=@0T,B7)*L*V5JBT29D@2^J;LE2GJ2XL9 BS$EAQ=@R&R")K1':I/+)2M,CG^(
MP<#\/FI&07O^3O,*.^)\H0-D^N%;'1:3G E4ZSPF^U7FT42$D,*>?"!;TM(@
M28$B*N$\,I9B;P(A*@L'Y1#7G@<.95KN"-HB GQ&Z5?TJ?I :VVL'BNQA<81
M3&#F[*%03&##6_8NELX/A11R2S7&W0@FKYK@AF>E]L1(@S+2+F9I+*92%3[D
MA$.]+KOF9]I30:^,/;=8-6X8XG\
MF/Y"!99D#T:#-L'EF\L/Y#,2&9!+S'I6-LTVNT,FO^;'T(PSB1 Z]BORY5&V
M-<5_,7)&^6[V?#&2FL:%MR6)I(*#<>BAV6Z5P=@I1DB,#&-R8'_> - !]5?)
MDH-X.$5I"J.5380B$PM%)!3=^XC2ALO>SXD0B [V'\3EZ6'R6/,Q3'39%8=X
MFPE5[:2-*%<>%?;,%%=_[T3T+B(:&OMIZ'W6H[?G_04R7DK69PQ^(10K 7UQ<"2<6Q? Q743(9TVUK,M(!8ZS0(4RA'OE&=.S#*&3
M<'X,6XQ);*A,JAM+RU-9JK1V<<9DDR&R9D::"4>9P!I;PNHD>4I%EC$.)T3*
MD34;PT=D1CFB&ZEVIYBYB*F89/3"EN-F;)A(4>$GZ5?>&R,0BU&))(#YV0W):8#:NMJN
M$0:1 2%CNT*$ID HD:BEJ!MPGHCJ[IL9$ C35\!.$LR&->A5\12.X;%+I4G&
M'^9R)G ELW.[46PO*IVW/2YE@*@*V\)HF$A78VER96' D+=7LSL29I1$QB?V
MX.&Y8#HZ'FFXCE;"\2V!\A_%+AT[^A+#G_]"Y&9(>\=\-IJ]- BFV5ANZ#>X
MU$GHE$^#HG@EP\4JL94]M+0S=SKV)QR?K/\)6P;]4WC"'+=%\ JT;915)EEC^A'49
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MA\:,(Q=\0J%A3==8L^%UD1E3C8<]0IT:J$\U&0_%6261&>X[KK2U:G6
MM9Z6I"DR/0_ \0@@&#:X$0L5'DKM1\53 #EM@YA,5 CB%FDYR1&(:Q%$QH5XXIC&RI-4 TI\D]S$F[16KE*B!W[=3!J7["Y67
M5!3::?I,2(N54)61Z6YK>@3\QPH:48SN7?(B:U-)7Q79$0F>28 15D:F'HYL
M!0T5+=6+ZYC='K]YGTCL<48UR0]Y0$IY?AQVRZET38.#LJ#1DRY#%WF1"P-E&Q6PQGM4EV@JDMGM!Y
M8DDOUEF)O89L<$>-^-?#C#@W'<]/SPJ3'!2,C 1.CHNPH]"<=ZMFQC($Y,66
MSA\$+!C$N11.Y>*#Q$FD#24SA$\G2CGW3>78DN<2?2%*,Z.TGX2]VGC(E?4.
M/K]A&.=&))FF=@1[Q96QIQ)NMX4NLH.,16F*JPQ$K1@5S6?FO:'
MDB]+Y:C(;5+N=@O(Q/R!KXCD#].I>A.SZ2TY[5V\_:)R%"0].7TQ[]!Y'Y'R
M;83R-'[C2.SNL0=JF;9G* -*#=(Z#$X0%[\;%I&L?3@:R5GZ%(B3P:!/7Y\,
MYZ._F1E[R]Y9A&&%L3T5>Z0:?]UX2OP-'0,7R>TOZ4P9)G/P 33CJ$VS?\H[
M#!$:/Z2C*F"I8;H/>5H*!>%D!6+ZADCV5KI= @L/SG.4(DX4A
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MH!O#>D!*;'0O''HR!N-\)X8U)H$?D4\;O6Q+]-FO\$3Z=HO_HD^;"Z9>) "^#60"[OD5B5]YG@'^F9Y(]Z1A4QV+*%0X0#I1$7;2N>EWP1Z9^*G.4!O#&U:CY;CGV@)8R5OX
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M;D[9(VF,V5CB; ;QY4N,#ORO_PFS[S[YR>&Y+P:M9#,&0K1SE=F=SGS*,S1[4L5*[,*AQQIHIVI3J9BD]5C'$
M _:;.5UU]]63B[H03+;HP&)?>Q=YT319K@EF!B*^0P\7;:M_IO+0&)2(=[?)
MGJ7 ;(SR]72V&)%ROA@OZ/%T3BK[;#3DQ\#A7JKR0JIHT3V>6^X#;SF=@[Q%
M]@IL].=3LC: ;T_9XAB,@(63U34.1[,%O>W#V[Y\.P>#ZG/:VO>S
M0&']"2YONN@KHT[]"3\&9-:IY_BG:?UJ8]W<4. 78D^1!
M,'\'N=.@BNM8GCZY*[./?.N0,W$GS>4B%'&]TAU[^H$&TOF %], NI^1R3P 
M5,+\L@"Q:H(_Y_KG0OT:DQUW
M5M\$P@'B5I[&Y'D:AS/@%7*&XH#]O<@F19?1 K9:EP 7B3A8*5$E
M @SFXV $U"4JG8JNS!6-@ NCIVHP&Q\+C!,P%$9]9-(+$ >.988.8-^S;D8K
MM:Q[(T_&PW Z$]YU_#T>$4L@9D%%S(P:]\[%).$QRH7-;U5-FP(3=JEBA_9A
MV#D5.E1_O+?BE48,GB?UQP7,E,+"#&L+HF(N+P -J8P*M(#6-_B3,,WB6K%]'>.*7U*:\*$3F[!G*!34?WX#:^!P::BC(7
MSGS)1XECY+%Y-DM:'E_BE MLW.\IHP[%F 1X3G4PE=7"1X[9OX?9_#)9P*X%
M*@\LF'G9-A@5V$ "2RUE4IS+(RS/GPQ0M-2*?E?KI?S\*D*
MWA>YA%6\CJIM2:FJR"%C3'+.<4S+H)-16*'C1+^BLR^E\HJCR9<",SQIB\ [/
MAI0B%5>P +[=3-9$D 4$JI@]@Y1@' ;U$+)Q&1&G()<^&(;BJ(@NJDG5#]FT
MW>)6X;T/3(?"QA?HLHZ6.HBMR.J2G][3CC53F\[6(&,., 78U3E[MLRZSESDF$!\-%'V?6*F>)Q20@R061G)L@J8'VLF5-:+1LA"7BNP
MH$!=7=:HU,A4Q>,'6TRXI#.'RCFHF#Q\^+.HZX",;B,JV )";+B@6:\&)06\
M&W+@JZ/%F+R#SKR8Y >J*D$P$PAL#IC*6LL$P'5,7PU["_A,[*\$
M-&7'HR#0:*) +9J:+ X/3/&\SNE ATHR0(Q'I#0\W.LDA^F/^K7, 7?%XJBM
M3MU7O>JLG<0Z(#O'O^._4B0&.R=Q"MN\W4J<+Q,SN$,YBC6(" *6A]JPC,CR
M-EY56\X_KD]%0'E5B7)TBE)B<>R%3@R)YGR6D4=71[UAR8TSD7H5'BW11YB<
M&P8XAXA&=<^@$W;(@^C>P^8T RT]!5U:5'M MK:1+F@9!NEJN6ZSC'M'B->F
M@=H!LO:_-VJ6F32K/+I+#7)JAK_=ZDKWOK8>Q0RB**
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MX6+(KK1!...?&%^;3&?L2AM02@&YT@;A8#(2KK2P/QEP$)RS]! XTK3
M1=O-+R]:;GYY:16+,%O"+K*=@*D1A;BM5_2HLD];:CDU3$#FD;U)L=X/,O K
M"GX99/F/A:QVGJA&'"$CO,VS:,4=AX;-3B'+:&?4PN9:WSBY$#"FI*+J4MDF
M(BOI- 9FPV?IN?+D\-FD#*M!,KWF0D67+42N5*;Z*R9"A+9.Z-4"Z5S.$\1;M")I8:7?E>B,MA@!KIXA$^=8_F
MLOC ?"%*O(DW>/!&X*!\I'UAA8&A_);*X,"F)NP87B6@9:&?$JL!,:]%#3X<
M]8$TQQ.CXAUFXME%02EOAZ)W?*165>#7>Z@@VA@%F"TFX6(RJP-U.EZ$?6 8
MS=5&>9E#C WUQPT -4Y]T 9:YH+T\1\V-R\"8[!P1,*P:N^;0
MU#R;@)Y]K@DAG 1G=NNAN NAZ_ID$2:VF@#;UKAH9V-S%=US@8%[>T"Z\D+5^TKD25@!,E6?BNMNY8=7
M3C8#GY(D@KZCVJ7H3^H%KR0WYZ*85[(NF>)[6M2T-CU]\NKZZHHOX>'[!O-E.G% UTD*]>W*J-G@ES:@RV;'%
MXZDF*WK1M(S01E@+CG1&4[-J2HGZ["*.49]UK2>^S,>I*S85KEAV_M9R-'ECI:K7I KSH!_,>C.1O/I:"(7A8$;I:),>L)178BJK
MX'1!65IG 7Q&L<=U3-4G3^<#C(0.>_-1??3:VE&IG5#D:=#O]8?!O-<70_]+
M7'"5Y)5<.Q^'=;H8+N;A?$%IW3C>7_0A6,^)0DN*2NPD1!-E(I3)\WP;@69P
MO00%+B[.WX&!B"0D"C3!'F"[7;:*MXV26R2,8K;:*.P#7)$ B:%C@JW*O3*I
MF!.P#>>\-5]YMI.CAN3:MH_PF%G"7ZA,QUT=3R1EKX-1;\R@1EM-*0?7JIZY
M\_ S:0S-=. J_6.;R039V[7S$1:6O#L/]-1#F9,+B%@6LTHQ*P<3"61
MR(^_I1HEL/)T/A7YC/C20/SI;"P>FB/55K)8S$AWDYTVX<^1N.* 6BHT.O>A55^BU7_4NAB%:%D+L([#_Q/+&NME-5NU
MPMO1=.-JO:(II209IZBUKT$V7$9[Z_*L3GF.GJQ[^YBB4E*X\("J*4'V3P\Y
MJ &:XM!BM.OCR'+*TDGS#-@:-G['C5_Y&E/#^DWMF%L!YBV- @\
MMZL'PRE(G:#Y4O5@ 3Q[I-.7PM$(1W,NN5<%V?=\IS;584?2<^X7C7*4T&;E
M]F;?26.OP05Y?S:\<;IH.>.'YV:#R%>'>O# X][email protected] =)I1N!/^EG?B
M@KZ_I()94Z8T(B,G),U3P>3<$C<
M_Z4&RK/ N7K3A:](.7L@Z]OLNBYA*0UW:X
MWI.P313K(VQ'S55NJ'^V#[OA78' Q!@ ;;\WG0L@XVT2H&\&5]X2_=\%('S/
MUU>1%*1./RN\9F*0TW-DA@=:LHJB<4T ID!%M8L"Y-:*Y'I5Y$ 42WD8=Q51
M CXB>2\6*CSXB:ZGI8UR[+\^H\R]L^O '0FB[)AB+^;M"4?!UP-.??@@R?T0
MK 'CVM+ZM7?F#;L&.AZ8"J1_%AJ;LX+QARIT(E3,N%P.@\7XT'#
M1#WJC_0RVP9*ZH
MVJ_H([)SZB VUD&0)O>DN+U9E-9F6M/;U/RQ.(086E4PS31?4:9"GJVY\^SU
M@V0K7_@I+ZT5](C9E,9!2'*/<547B48*'V)1U^1G0H<"2T)RZ(6Y++!G2=EDYOG2+BBA)#'+&\HP3FJ7=9&6'0MU>
MD##3[$_ .:]Q#54LE-Y,G?(LBIRA^?"-G)XO>RSMM@]IM
MS+Y>^%Y=51]37*0K/A"G"J"Y2((NWT3
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M0#;'8B 3HQ@(8-0,>QE/PO%X
M=O2=6*?R/K2SKA7"3S_1,2RG_;40QJ02?$OQ/&:8EWP
MN6LQL4Y'\JVS]3579>DC5HXX4U%:[PSFQ\U@7Y.^F+LBG
MV\5Q4+;6<.FF9_W^5C?K&XD"=? 1VS9SV
MDCE-\WFL/O3=JP^UG^7MY,W\YG.?CDOS\20IZ38=@%_+N1>9WYU8W..AB[^/
M0Q=MVW_$L0 W;O!XUN#[GC4X2*D^==6_V2/*EJY2[3J@_QF)S^-Y::HC:!]SLKXM)^MYM/QEDX-MSJ;2<\I& KA<
M&:5>@].76&%H6YR!J/I\_3(X/4&Q]%3R#%!_/G--FQ/\_0D+@4%GC@WTIRKM
M@9W&J_6^[(_]+Y^+=-+@PDCQ^=>WR$;?X#D,M]ZV\A?JNAN2+]&LI>PEL72:
M2''O4/Z;JP^> . RCE?B-DE? U&PD7./89@[Y,C(4$7)9W5KQRZAQ!$'4A]D
M'0CI=?+YD5#G1J;HD!7OBEUHQM",6U9K=AO\"KLJ)@\ 9,^""POT)N@"&@4&
M)T%F5,:7.%Y5K+3@/#2L!Z3P2 [1,GVQ$.K$<,S.@*DZ+B#^J!+?U/9Z#&_M UL_,\,,5#4ZO/E$]X;22'
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MOD5N^.Z2=-!)78+8#HC&RTD[Y<[9^.>^QV]51\.EX6=LE0:IJ5G:#D:)%M>4I^HO>D*[DMU&#.XXZ>4,R
M[J#,;[Q3H;EA_?X./Z]&39%S4!IO_N@\%U!XZ0:,[G,J0,A&*[HL(Y(N#@>(
M="-&]S[KMV"T=TX79+A1#;[#A';H5\_5-RX4,>2F;EM!>#JKX*09[Y=J[FN\
MK,J_4>2R7MG7QM3;+'R+>65<6\-W,AT$"ETYY"K/8F2^08AK':[-VY[J7Z@[
MA)Q%X][@Y0&\=;\V7QGB\P$V)_=]FZ"U[J# A=5R\(Z=B^5>B3$,>GA=.73QL[';T^GA]XUSHV^G0X^NY#R*XH%HK
M;:SOO1-=D,7GV]S.9C5F5ZM\4$%=P-,3QQQMKICKZYA&]>D*(Y%2-Y9AQ>$8
MJZ*[H+:J3/\:M 4IJ)ZU4R'<\B13I7 '>(.)SXM,W7'&A:]>N+$9Z#K%JN&N
M^YMFY/FX7BO8S:^9V<8SC.OKB3SUNZ>- NK9C"OAF?*"/ILU8
MX:6<>=$2G?U@2[:#(QW9K=KD[]VQ0H/OW?%Q8/=@4O>A_*CTO19TQ"F A\&B
M>W]S>1S>JUG(\P3S+AK(87YJ,.>H^7J ;LJGG^G6NVQF&DTY^3@QK\PX^.F#
MV6YC?Z\/:S(=>I&' +ZID\OC>'MC/]WY^S$RNJV4_O$VWS>;+J']&87G6JV9
MQK3^F@O7K?[^G5+$=%:Z;VY=D]1='4?GIC?QP.ZIZD[OWY"CWI:1W4%?."9G
MO1&@WYZL?CC#JRMF79BIV;Z8L&."-'SPRLI[?F'GBUK1KV=HEH%TOXV#A&$A4&=IUC74HJ^KZ*X_.
MPN[H7!E&UL4$L! A0#%     @ XCJD2$AU!>[%    *P(   L 
M             ( !+ (  %]R96QS+RYR96QS4$L! A0#%     @ XCJD2%,R
M;J;] 0  )2(  !H              ( !&@,  'AL+U]R96QS+W=O&PO=&AE;64O=&AE;64Q+GAM;%!+ 0(4 Q0    ( .(ZI$A<2I(:6@(  '(+
M   -              "  680  !X;"]S='EL97,N>&UL4$L! A0#%     @ 
MXCJD2(O4D\"A!   ,A(   \              ( !ZQ(  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2$"7.N(J @  DP<  !@         
M     ( !H!X  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#
M%     @ XCJD2#4J"WF> 0  L0,  !@              ( !T"D  'AL+W=O
M&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2(H#!SNB
M 0  L0,  !@              ( !4R\  'AL+W=O&UL4$L! A0#%     @ XCJD
M2*"(+::C 0  KP,  !D              ( ! S,  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2,AX!FVB 0  L0, 
M !D              ( !CC@  'AL+W=OZ*&:(!  "Q P  &0              @ %G.@  
M>&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2$,@M_FB 0  L0,  !D             
M ( !&CX  'AL+W=O&PO=V]R:W-H965T
M&UL4$L! A0#
M%     @ XCJD2"*.".BB 0  L0,  !D              ( !ID,  'AL+W=O
M&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2*/\
M\>NQ 0  %@0  !D              ( !-TD  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2(?Q1I.Q 0  %@0  !D 
M             ( !TTX  'AL+W=O&PO
M=V]R:W-H965T&UL4$L! A0#%     @ XCJD2/E>GVZ^ 0  >P0  !D              ( !
M=%0  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%   
M  @ XCJD2&+/[D@> P  '@X  !D              ( !.5H  'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD2';EV&PO=V]R
M:W-H965T&UL
M4$L! A0#%     @ XCJD2,(887KV @  2PT  !D              ( !VG  
M 'AL+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ 
MXCJD2'PGP#DY @  \08  !D              ( !-G@  'AL+W=O&PO=V]R:W-H965T, ,  /T.   9              "  &UL4$L! A0#%     @ XCJD2-,5B+:I @  P@D  !D         
M     ( !,H<  'AL+W=O&PO=V]R:W-H
M965T&UL4$L!
M A0#%     @ XCJD2-4T*U4U @  O08  !D              ( !)8\  'AL
M+W=O&PO=V]R:W-H965T&UL4$L! A0#%     @ XCJD
M2,7U2<6[ @  L@H  !D              ( !+I8  'AL+W=O&PO




/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){	
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}
		
	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};
	
Show.toggleNext = function( link ){
	var ref = link;
	
	do{
		ref = ref.nextSibling;	
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';
			
		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};







/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em; 
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}









  3.4.0.3
  
  html
  92
  229
  1
  false
  46
  0
  false
  5
  
    
      false
      false
      R1.htm
      0001000 - Document - Document and Entity Information
      Sheet
      http://www.endochoice.com/role/DocumentAndEntityInformation
      Document and Entity Information
      Cover
      1
    
    
      false
      false
      R2.htm
      1001000 - Statement - Condensed Consolidated Balance Sheets
      Sheet
      http://www.endochoice.com/role/CondensedConsolidatedBalanceSheets
      Condensed Consolidated Balance Sheets
      Statements
      2
    
    
      false
      false
      R3.htm
      1001001 - Statement - Condensed Consolidated Balance Sheets (Parenthetical)
      Sheet
      http://www.endochoice.com/role/CondensedConsolidatedBalanceSheetsParenthetical
      Condensed Consolidated Balance Sheets (Parenthetical)
      Statements
      3
    
    
      false
      false
      R4.htm
      1002000 - Statement - Condensed Consolidated Statements of Operations and Comprehensive Loss
      Sheet
      http://www.endochoice.com/role/CondensedConsolidatedStatementsOfOperationsAndComprehensiveLoss
      Condensed Consolidated Statements of Operations and Comprehensive Loss
      Statements
      4
    
    
      false
      false
      R5.htm
      1003000 - Statement - Condensed Consolidated Statements of Cash Flows
      Sheet
      http://www.endochoice.com/role/CondensedConsolidatedStatementsOfCashFlows
      Condensed Consolidated Statements of Cash Flows
      Statements
      5
    
    
      false
      false
      R6.htm
      2101100 - Disclosure - Background and Basis of Presentation
      Sheet
      http://www.endochoice.com/role/BackgroundAndBasisOfPresentation
      Background and Basis of Presentation
      Notes
      6
    
    
      false
      false
      R7.htm
      2104100 - Disclosure - Summary of Significant Accounting Policies
      Sheet
      http://www.endochoice.com/role/SummaryOfSignificantAccountingPolicies
      Summary of Significant Accounting Policies
      Notes
      7
    
    
      false
      false
      R8.htm
      2107100 - Disclosure - Recent Accounting Pronouncements
      Sheet
      http://www.endochoice.com/role/RecentAccountingPronouncements
      Recent Accounting Pronouncements
      Notes
      8
    
    
      false
      false
      R9.htm
      2110100 - Disclosure - Fair Value Measurements
      Sheet
      http://www.endochoice.com/role/FairValueMeasurements
      Fair Value Measurements
      Notes
      9
    
    
      false
      false
      R10.htm
      2113100 - Disclosure - Marketable Securities
      Sheet
      http://www.endochoice.com/role/MarketableSecurities
      Marketable Securities
      Notes
      10
    
    
      false
      false
      R11.htm
      2116100 - Disclosure - Inventories
      Sheet
      http://www.endochoice.com/role/Inventories
      Inventories
      Notes
      11
    
    
      false
      false
      R12.htm
      2119100 - Disclosure - Property and Equipment
      Sheet
      http://www.endochoice.com/role/PropertyAndEquipment
      Property and Equipment
      Notes
      12
    
    
      false
      false
      R13.htm
      2122100 - Disclosure - Goodwill and Other Intangible Assets
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssets
      Goodwill and Other Intangible Assets
      Notes
      13
    
    
      false
      false
      R14.htm
      2125100 - Disclosure - Accrued Expenses and Other Current Liabilities
      Sheet
      http://www.endochoice.com/role/AccruedExpensesAndOtherCurrentLiabilities
      Accrued Expenses and Other Current Liabilities
      Notes
      14
    
    
      false
      false
      R15.htm
      2128100 - Disclosure - Debt
      Sheet
      http://www.endochoice.com/role/Debt
      Debt
      Notes
      15
    
    
      false
      false
      R16.htm
      2131100 - Disclosure - Commitments and Contingencies
      Sheet
      http://www.endochoice.com/role/CommitmentsAndContingencies
      Commitments and Contingencies
      Notes
      16
    
    
      false
      false
      R17.htm
      2134100 - Disclosure - Stock-based Compensation
      Sheet
      http://www.endochoice.com/role/StockBasedCompensation
      Stock-based Compensation
      Notes
      17
    
    
      false
      false
      R18.htm
      2137100 - Disclosure - Net Loss per Common Share
      Sheet
      http://www.endochoice.com/role/NetLossPerCommonShare
      Net Loss per Common Share
      Notes
      18
    
    
      false
      false
      R19.htm
      2140100 - Disclosure - Income Taxes
      Sheet
      http://www.endochoice.com/role/IncomeTaxes
      Income Taxes
      Notes
      19
    
    
      false
      false
      R20.htm
      2141100 - Disclosure - Segment, Geographical, and Customer Concentration
      Sheet
      http://www.endochoice.com/role/SegmentGeographicalAndCustomerConcentration
      Segment, Geographical, and Customer Concentration
      Notes
      20
    
    
      false
      false
      R21.htm
      2207201 - Disclosure - Recent Accounting Pronouncements (Policies)
      Sheet
      http://www.endochoice.com/role/RecentAccountingPronouncementsPolicies
      Recent Accounting Pronouncements (Policies)
      Policies
      http://www.endochoice.com/role/SummaryOfSignificantAccountingPolicies
      21
    
    
      false
      false
      R22.htm
      2310301 - Disclosure - Fair Value Measurements (Tables)
      Sheet
      http://www.endochoice.com/role/FairValueMeasurementsTables
      Fair Value Measurements (Tables)
      Tables
      http://www.endochoice.com/role/FairValueMeasurements
      22
    
    
      false
      false
      R23.htm
      2313301 - Disclosure - Marketable Securities (Tables)
      Sheet
      http://www.endochoice.com/role/MarketableSecuritiesTables
      Marketable Securities (Tables)
      Tables
      http://www.endochoice.com/role/MarketableSecurities
      23
    
    
      false
      false
      R24.htm
      2316301 - Disclosure - Inventories (Tables)
      Sheet
      http://www.endochoice.com/role/InventoriesTables
      Inventories (Tables)
      Tables
      http://www.endochoice.com/role/Inventories
      24
    
    
      false
      false
      R25.htm
      2319301 - Disclosure - Property and Equipment (Tables)
      Sheet
      http://www.endochoice.com/role/PropertyAndEquipmentTables
      Property and Equipment (Tables)
      Tables
      http://www.endochoice.com/role/PropertyAndEquipment
      25
    
    
      false
      false
      R26.htm
      2322301 - Disclosure - Goodwill and Other Intangible Assets (Tables)
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssetsTables
      Goodwill and Other Intangible Assets (Tables)
      Tables
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssets
      26
    
    
      false
      false
      R27.htm
      2325301 - Disclosure - Accrued Expenses and Other Current Liabilities (Tables)
      Sheet
      http://www.endochoice.com/role/AccruedExpensesAndOtherCurrentLiabilitiesTables
      Accrued Expenses and Other Current Liabilities (Tables)
      Tables
      http://www.endochoice.com/role/AccruedExpensesAndOtherCurrentLiabilities
      27
    
    
      false
      false
      R28.htm
      2331301 - Disclosure - Commitments and Contingencies (Tables)
      Sheet
      http://www.endochoice.com/role/CommitmentsAndContingenciesTables
      Commitments and Contingencies (Tables)
      Tables
      http://www.endochoice.com/role/CommitmentsAndContingencies
      28
    
    
      false
      false
      R29.htm
      2334301 - Disclosure - Stock-based Compensation (Tables)
      Sheet
      http://www.endochoice.com/role/StockBasedCompensationTables
      Stock-based Compensation (Tables)
      Tables
      http://www.endochoice.com/role/StockBasedCompensation
      29
    
    
      false
      false
      R30.htm
      2337301 - Disclosure - Net Loss per Common Share (Tables)
      Sheet
      http://www.endochoice.com/role/NetLossPerCommonShareTables
      Net Loss per Common Share (Tables)
      Tables
      http://www.endochoice.com/role/NetLossPerCommonShare
      30
    
    
      false
      false
      R31.htm
      2341301 - Disclosure - Segment, Geographical, and Customer Concentration (Tables)
      Sheet
      http://www.endochoice.com/role/SegmentGeographicalAndCustomerConcentrationTables
      Segment, Geographical, and Customer Concentration (Tables)
      Tables
      http://www.endochoice.com/role/SegmentGeographicalAndCustomerConcentration
      31
    
    
      false
      false
      R32.htm
      2401401 - Disclosure - Background and Basis of Presentation (Details)
      Sheet
      http://www.endochoice.com/role/BackgroundAndBasisOfPresentationDetails
      Background and Basis of Presentation (Details)
      Details
      http://www.endochoice.com/role/BackgroundAndBasisOfPresentation
      32
    
    
      false
      false
      R33.htm
      2410402 - Disclosure - Fair Value Measurements - Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Details)
      Sheet
      http://www.endochoice.com/role/FairValueMeasurementsScheduleOfFairValueMeasurementsUsingSignificantUnobservableInputsDetails
      Fair Value Measurements - Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Details)
      Details
      33
    
    
      false
      false
      R34.htm
      2410403 - Disclosure - Fair Value Measurements - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/FairValueMeasurementsNarrativeDetails
      Fair Value Measurements - Narrative (Details)
      Details
      34
    
    
      false
      false
      R35.htm
      2413402 - Disclosure - Marketable Securities - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/MarketableSecuritiesNarrativeDetails
      Marketable Securities - Narrative (Details)
      Details
      35
    
    
      false
      false
      R36.htm
      2413403 - Disclosure - Marketable Securities - Schedule of Available-for-Sale Marketable Securities (Details)
      Sheet
      http://www.endochoice.com/role/MarketableSecuritiesScheduleOfAvailableForSaleMarketableSecuritiesDetails
      Marketable Securities - Schedule of Available-for-Sale Marketable Securities (Details)
      Details
      36
    
    
      false
      false
      R37.htm
      2413404 - Disclosure - Marketable Securities - Schedule of Amortized Cost and Fair Value of Short-term and Long-term Marketable Securities (Details)
      Sheet
      http://www.endochoice.com/role/MarketableSecuritiesScheduleOfAmortizedCostAndFairValueOfShortTermAndLongTermMarketableSecuritiesDetails
      Marketable Securities - Schedule of Amortized Cost and Fair Value of Short-term and Long-term Marketable Securities (Details)
      Details
      37
    
    
      false
      false
      R38.htm
      2416402 - Disclosure - Inventories (Details)
      Sheet
      http://www.endochoice.com/role/InventoriesDetails
      Inventories (Details)
      Details
      http://www.endochoice.com/role/InventoriesTables
      38
    
    
      false
      false
      R39.htm
      2419402 - Disclosure - Property and Equipment - Schedule of Property and Equipment (Details)
      Sheet
      http://www.endochoice.com/role/PropertyAndEquipmentScheduleOfPropertyAndEquipmentDetails
      Property and Equipment - Schedule of Property and Equipment (Details)
      Details
      39
    
    
      false
      false
      R40.htm
      2419403 - Disclosure - Property and Equipment - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/PropertyAndEquipmentNarrativeDetails
      Property and Equipment - Narrative (Details)
      Details
      40
    
    
      false
      false
      R41.htm
      2422402 - Disclosure - Goodwill and Other Intangible Assets - Schedule of Intangible Assets and Goodwill (Details)
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssetsScheduleOfIntangibleAssetsAndGoodwillDetails
      Goodwill and Other Intangible Assets - Schedule of Intangible Assets and Goodwill (Details)
      Details
      41
    
    
      false
      false
      R42.htm
      2422403 - Disclosure - Goodwill and Other Intangible Assets - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssetsNarrativeDetails
      Goodwill and Other Intangible Assets - Narrative (Details)
      Details
      42
    
    
      false
      false
      R43.htm
      2422404 - Disclosure - Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense (Details)
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssetsScheduleOfEstimatedAmortizationExpenseDetails
      Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense (Details)
      Details
      43
    
    
      false
      false
      R44.htm
      2422405 - Disclosure - Goodwill and Other Intangible Assets - Schedule of Amortizable Intangible Assets and Goodwill (Details)
      Sheet
      http://www.endochoice.com/role/GoodwillAndOtherIntangibleAssetsScheduleOfAmortizableIntangibleAssetsAndGoodwillDetails
      Goodwill and Other Intangible Assets - Schedule of Amortizable Intangible Assets and Goodwill (Details)
      Details
      44
    
    
      false
      false
      R45.htm
      2425402 - Disclosure - Accrued Expenses and Other Current Liabilities (Details)
      Sheet
      http://www.endochoice.com/role/AccruedExpensesAndOtherCurrentLiabilitiesDetails
      Accrued Expenses and Other Current Liabilities (Details)
      Details
      http://www.endochoice.com/role/AccruedExpensesAndOtherCurrentLiabilitiesTables
      45
    
    
      false
      false
      R46.htm
      2428401 - Disclosure - Debt (Details)
      Sheet
      http://www.endochoice.com/role/DebtDetails
      Debt (Details)
      Details
      http://www.endochoice.com/role/Debt
      46
    
    
      false
      false
      R47.htm
      2431402 - Disclosure - Commitments and Contingencies - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/CommitmentsAndContingenciesNarrativeDetails
      Commitments and Contingencies - Narrative (Details)
      Details
      47
    
    
      false
      false
      R48.htm
      2431403 - Disclosure - Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details)
      Sheet
      http://www.endochoice.com/role/CommitmentsAndContingenciesScheduleOfFutureMinimumLeasePaymentsDetails
      Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details)
      Details
      48
    
    
      false
      false
      R49.htm
      2434402 - Disclosure - Stock-based Compensation - Narrative (Details)
      Sheet
      http://www.endochoice.com/role/StockBasedCompensationNarrativeDetails
      Stock-based Compensation - Narrative (Details)
      Details
      49
    
    
      false
      false
      R50.htm
      2434403 - Disclosure - Stock-based Compensation - Schedule of Stock Options Activity (Details)
      Sheet
      http://www.endochoice.com/role/StockBasedCompensationScheduleOfStockOptionsActivityDetails
      Stock-based Compensation - Schedule of Stock Options Activity (Details)
      Details
      50
    
    
      false
      false
      R51.htm
      2434404 - Disclosure - Stock-based Compensation - Schedule of Restricted and Restricted Stock Units (Details)
      Sheet
      http://www.endochoice.com/role/StockBasedCompensationScheduleOfRestrictedAndRestrictedStockUnitsDetails
      Stock-based Compensation - Schedule of Restricted and Restricted Stock Units (Details)
      Details
      51
    
    
      false
      false
      R52.htm
      2434405 - Disclosure - Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details)
      Sheet
      http://www.endochoice.com/role/StockBasedCompensationScheduleOfStockBasedCompensationExpenseDetails
      Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details)
      Details
      52
    
    
      false
      false
      R53.htm
      2437402 - Disclosure - Net Loss per Common Share - Schedule of Earnings Per Share (Details)
      Sheet
      http://www.endochoice.com/role/NetLossPerCommonShareScheduleOfEarningsPerShareDetails
      Net Loss per Common Share - Schedule of Earnings Per Share (Details)
      Details
      53
    
    
      false
      false
      R54.htm
      2437403 - Disclosure - Net Loss per Common Share - Schedule of Antidilutive Securities (Details)
      Sheet
      http://www.endochoice.com/role/NetLossPerCommonShareScheduleOfAntidilutiveSecuritiesDetails
      Net Loss per Common Share - Schedule of Antidilutive Securities (Details)
      Details
      54
    
    
      false
      false
      R55.htm
      2440401 - Disclosure - Income Taxes (Details)
      Sheet
      http://www.endochoice.com/role/IncomeTaxesDetails
      Income Taxes (Details)
      Details
      http://www.endochoice.com/role/IncomeTaxes
      55
    
    
      false
      false
      R56.htm
      2441402 - Disclosure - Segment, Geographical, and Customer Concentration (Details)
      Sheet
      http://www.endochoice.com/role/SegmentGeographicalAndCustomerConcentrationDetails
      Segment, Geographical, and Customer Concentration (Details)
      Details
      http://www.endochoice.com/role/SegmentGeographicalAndCustomerConcentrationTables
      56
    
    
      false
      false
      All Reports
      Book
      All Reports
    
  
  
    gi-20160503.xml
    gi-20160503.xsd
    gi-20160503_cal.xml
    gi-20160503_def.xml
    gi-20160503_lab.xml
    gi-20160503_pre.xml
  
  
  
  true
  true











begin 644 0001623919-16-000077-xbrl.zip
M4$L#!!0    ( .(ZI$@5KQ "\+X  #?_"P /    9VDM,C Q-C U,#,N>&UL
M['U9?RB @26(:!#@)4!+W
MUZ][@B" S,1)\)(X8]9%(2]W#P_WSR,\W/_\O[]?#%Y]+WG2[M,M55/=;M"J&8X5^,[!0=>VHU[;#3ZF7?OY2#_EO\
MWU= ]7#\MCNZ&D[*Z[^\/I],+M^^>8.7?AD7W5_.1E_?W%Q\PPCE1X0>T6__1FXT')[\;U[WGX_7L$'Y/(#9_/7?_OV[9=B
MV!MUST?];O%+=W2!]RLB"9_=W1]^+<:3]@],K[7PWA^/!*-ZZ3O5DZ/R#&XG
M_,W-';,'!OWAO];_=,;%[/9AI]\=M]-474*2Z#))P]%P>'71_HW>I'PS
MN;XLWL!-1W!74?:[M\]M?FCY@;(X7@-79S>.^]UV%N!""P/CR66YXGZX
MTO+ U?CHK-.YO'WFM#/^4A%R!*.1H4X]9GJBOM#Z$4XO+MTZ:;U53F^=+-[:7Z>@P_&D,^S>JMSWAHI^
MX]7=U%K[IKIZ>^NXUW8CO):^^;^_O?O8/2\N.O.;^YMO/KJEYM?__M_^C-]Z
M.ZXN?"A.7U7??GM>Z=U9_V@V@7\!,E[?7,11^,OK'X
M/U[_2H -Q;BE]L]OZ@]7WWA3_\C--RYA2HUZBU\% 923"+[@5R03M8G0V>/S
M:PL/@&%;N)V#\LV_UIO=//OI]GNS'VXDTRZJXTI2[.-YIRS&)U<3'!QT9D]1
M;E/5F=R(01RQ^2MOKNPMACR5 WWZ;"^._F'8EG\33YQM>4390=F.%=O/PC[(
MW>R#/+!]N-&0ISXQY'U,#/'D)X8X\,28S@OV?ZZ&!25_W*"K/SY.0(4PA F#
MSGA\/WK
M[):&//[\IO7U.W]ZE33GG[X5Y[I/WEJ3N03N8)_4$24[V*?%V^]LGQ8TEH@=
M-/8#A'L0ZD \OC!*/Y &MO+WD"I!Q$XJ,;_]()!V'Y7X1Z-6M^2^=)X@'JU$\Z__Q>=@KRF]E?U*4)Y<3$%/=%^WN
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M7?&U&"Q!V]M[CH>75Y-Q=0-[MMJQAN,YQEW#\HL*W,B#UE;F=GS_^=?2U*(!.YC!3V71&5^5UR^&[Q$-WZI!>-'S9?BS
MMYZ'47DY BQ=_.P^?@L<>9^JOG8VSX]*W&K;^W($+YE+?W/"^=W(+5*OY=Q^O#[%T5YBHKRU-9H
MM]&2N:-#X5UU47K'0WCRK"S&S\S/;:4J.+
MRQ*B:;SM1Q[]-?P^W\%?Q,XO'N*)>(B'#)BV'/0PN@!<7Y1CN.7CZ'3RK5,6
M/^:0K^;T^0[XKB;^998_["Q_4GX]7Y7#_N2J+."^W/^.?_W(;GTUNS_/T+\8
M^)]LP.=KF]WS_K HKQ?O^P&'?;Z(N)+?YSOXN\*Y%T/_&(;^22#YE]C]<6+W
M)S7X+T;_)XSA7Q9M'VO1]MXC^MP'OU:\ZW\M>L=#>/=9_\N@<.-Q,1G[ZVK;
M=)XL>ZL&5^/)Z*(H/Q2#*NH=G_#SC;WJ>B>SX<#49GUQ_Z9^<_A4)LX/WG
M=13> 6?+@1AU8)F44/KSTO+6F*HMI5:)?%.A78X9MMDIRK
M8$.4]Z=XS<(S?+?",_S@A6?8/(P!(?0GLP&H59C].AI\[0_/EN]Y7IK7Y&^Q
MQ.P:!A_($"T-[Z&\$GNQ02\VZ*%TKMWY[6M7;N_Z>Z?L=P EI >_!V]X=^Y,/STLI[\4\[?#]NI07=G^V$?-/Y#07 \ 7
MI_F83O,>*XT>TH"M]:+O^L/BY'3Z_(MN',ZE-N7ZDYBHEL-+Q\/NZ**XK0/:
M6I@NC,:3DU,LT_G,UAW6,+>XC5GC[H&4X;$/*+4<>7Q1AL=2AJ=PK'$/9?A0
MC L\N.R @.GZ+=Z:OE^"\)]9DNM6ZK$%OS^1PNSA2EX4YK$4YBFXFST4YJ_%
ML"@[ Y"?ZUWTA_WI89*OQ8^K,EMQ_!,IS1YNZ45I'E-IGJEK^E@,!A"5@@A_
MZY3_*K#0XX^K+YN8?;$O+ZKRM%3E"5J5Y=9\LU_3Q>5@=%T4S["[4*V_WNSG
M%HY^$OM07]/?>L1_AEY4A]&6'3[XM)I?/>@YE$%G^'OGXO9,\:=OHT_GHRML
MHM#!,W>GDZ(8XDT_C_8MBF2Z1[]>)B\Z>"^VK]:!^?.P/QE_^/CY>>G2"DNV
MEK5!?(,R3'<"[P-"?P2W\Y*#D2:'GK77UQ8F\*,)&H[4C!G[F:G-_!NN0
MP/D'TM$[AES/1=V>SN@_/LRMF>;G-9#;N9OG/(C[PH>?VF_L//[/TG8\*<]Q
M-SW]V?3M9>!K,<"+H=HM+GHQ6(?06_$W 7K[8#JTKZC$;J(2RV>V#]_%X67]
MXN$7P>^]KNN+MWZ&@]CF?(&B7G]PA8EO\[94Z7MW<-4K>KD<74PK%%=)+B>G
MV*ZW/SP;OR_*C^>=LO#7[2_X@;3B_@3T@@@?42G_T2G+SG.K-/H@RK@DF1F%W=#6_WDCV[>>/#Z3%3S!C_46+7[3XQ19OJ\6S
M.WX?#3\_LV('ST6=9[/UM[W2B#]D!*?=:?5DK^4)QAPX$7
MM;X/M3[KOVT*^7EF%]4W@5[T]$5/G^(^UV/IZ4L(]YQ#N!]9(X_?O6CD_6CD
M\;OGJY&/@3E?;.0/8B/O_0#"BXW\433R@6SD(33R:MB?JN/5N+>H#A=%9WQ5
M%K_VQR/!J(9)%F?OF%V:OQ5?TO+*X54];ID]>D,=_+GS2X'.V4;EXIM[_:^@
M--':N^:
M7;IE;8-DIA]9+>Y51&QZ[51-V]Y[=JO$F]_:*_IO'=S:P]OSH'/VZD87/Q2G
M2TN=KZ?6L=.='!&J76+&6Q.SS))Y[;*4P:=H26#:O/[UM#,8@PXU7C[[8K@J
M2_RI/X9)^L^B4Z;IXM46'W>1BFRL/EV?F%*6PQDVO7_6*;O\"YA_<
M\WM>H%=92K41-NA$).?),N.HMB8Q2@W/^O4KM G5RVC!.:(SCPH$^OMH>-3I=HL!&OVB
M]ZKZPB)Q2Y]_TK
MZ.THG(_ZW>+5OX\&*(#Q_WIU/.S^LDC2\G>1)C#/[FNG/T!@=#HJQYW!0C9/
MU2RH,[GY%T[1DV'QZ;P<79V=?_HV J/K_K^AAM7/?&?=K)N(&O"YJP1%?
M8(J#O0(58)QR(K.RUNDHE8LL2. KYP4EJ)"'(M:"&O_YS6&)OJL8GV*,J%P58
MPR[\U#DK3DY=[VMGV%WF[_':$*XT*C1(3C/SDFD&"(!:PH3)1#H:*05OL"#1
M&>PDOQ"84I5,=Q)%J_BJ_D7%>'(R'%Q/GM[3GYKD4>3MUL17([&_Q
MN>RY9\GJK',FW-2GAM9Z-C.V(^>.M*^;U@0D&4,T,M$H
M#U!4%5>'O1O[5OT^3>?$HJL+/YZ<
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M&*I2%@' 1R3&*(A?=%+)B\0);^@Q(-&;<7H$6A^9X%L,%>0:#,E$P&X%.6 @;9* ZX/!,3M4B*UP7 )37WQ#_\
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M(4].,TZ?DQ* ^E/F7B8K;=#>Q^R<@@ SZT;00\TM9_M1
M>&#V-OA%,,6)NN 5#AL7U'F2L_4 @J+SCC78L_Q W$T'%C ASL/^&#<9T6M^
M'H+6?L,EGML>&MO,]OUF['*\IQC3BC"'2W6&)6^\L!#<6@DR2:ZQ9*<%D7-9
M;,_.C02J!HHSF/"I\[V8@8FPS[)"!K>J@DLLJBR]C#CQM$W4@ =FH;FLP-FM
MJ=E$R-[TKC,8U@@&/@GL(HG24^LM6$7#A(K,F^0;X2,U8E=ZJ[.<8%%ZN!$.
M@I]&&GC6_:QR#/YZ?LO-^%4E069H#U#>U>1\5.*"ZM3*+BZ6+7B/55L'C]JB
M8*5?DDR'E'0B$/])J8TE.J;@8J#.@2VP[2N)8BKZQY#IXGA^6?/M+]?S6Q:_
M7?WZ_JKLGL.5=_V+_O3@[V^=[^AA,,:=-NVI(MTE(C8&]@]35GPUP,Z9<>E%
MH)'B]JC+(?O(C$PD,T-#8PWFUEX]@C!Q&&]/:"^'3_M9/+!WG 1*075Q6<,S
M(F1V,OK$."<-BV<$GYJ0]43L0^;:K1#+*?-2$N$(D&>-%6"5C=*&TB148XP4
M%71W,LOI$MJR\YVMC(&MO'&^X^/AUV*ZT++[$@($$! 3"Q\"V&<)>(_F)+-1
M+G,&H7)C'6F9ASTHO \>-Z&AZ(R17ID,/ : KLD#A"Z'T86
M:\-*"@HJB3<0BX#R&D")B0-V<<18'D)CS"G34CZD+"KU01<*\38F2GXMIOT"
MWXW&X]^+RJ 284S10_V/)9$/P(C(Q2@)4
MS Y!@;4RRY"%PDR-S%.3#<[UHW)R3_80)K<2$'-KX%M:&[TU@*@#QJV$DN#K
M9(4-,?X3"#<]%E10V+3*M+'M0$/8Q?!=7H&YH,F"$.H2%X!9G0D FP$,!B:
M.5[*WE4J2ZLF]>2:G>$AR4EQ#E%A<#"LF7D"T!"B$.5X$E0V%]],S12L)>78^$2L SU#X04;:P.?*L'T)OUNQ3/C0U>H,N$7^R.(:
M!P7^6#(!YIO,07H(VRUG@$(B84FU[HTS\&B"+K!X",(?3!)/I(+KBO%P1/ED
M':?$$^ELLCY:20*,2HB@5ZYE/"B1DA/[,AY[%\1?,1;2)!]3D#%1"&EQ9<%9
M%[AW ,Z=Y*WY.E83I5^&XLX5N%<,"7%$2 /8VC/.9!0,T)*T@0;*P8)IVV:N
M*).X:?HR)#M6YE\Q!);QQ#1F"V@FO8@&E^"L#5I;"-"T;QD"0=2]NHL6S[YQ
MSQ)S'KC.)D/P'<"P*H A8'(0'GFP,"S[&(ADS9QPH:S>CI"]-G,5?ESQJ)RT$F88&#W ESE+P&TLTV86
MDN%*M9#3MCNZGJJU4A(:PG\KM*%<&@+Q9))!! (V.7#P?LW<*,'$EE3-3KGE
M48DQ+69*+W[1C*[9__WB]*#)JOWV'(O&27;^^9
M'O&H;J ;(D8;/#>.YTP\F!5,,G:>A6R"H(0'VLRA ROT+"5P>\]OG?\Q^9@A,0E<:&,"!#]6"98
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M\$-G*C =DTD.9A+L)Z8R>M C38,7:FT&V4\IR4>$'R*"_94L!0D1A9P>!
M*\^ N9.PC7#B9:@>$'Y8;5ETC&2"M2:\\(Z&% $BY5[ 8RC.(Q)Q>M\E8F+O 8., +3)B3UKG&+MGF;9059!V*DX?$#!!G@;^Q
MTAC!9 C>.HS+9QS&2'[8$G+^Y-GCH9
MXYGA3@LA9+3&$FJTU50J%1)O*:RE"/G1A// CI?QD(C/2D
1AW.L&G \_+V8S#WU3:%F7"]8?61PFT,-DB0*#D4+3DRVTA.=
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M*5D[9%,NT[4=+_L6S3"8$Q+Q33 :O&Z@C762VUX8NY!T$!8>
M$N51 SY0,9=<(-)JY1W%7$9*1#01?FOQB/J'D^^5D2M!)662N!:J*2.HVDV#J3,A=-M6.\'T.Q-B,\R
M&J,6/@#D@PB#&<\9#XKFR(TSI!%D"#"8/XQ4'ACV!3"F&7.>6.)2<]"\(,&'
MRF!%4-XVDO#O+&M_->X/B_$XC"Z^8/_&:8.*FXX62ZTJ;GM!M)X$N>7;=P;8
MB>CC>5$L'VD_Z__1+./6:99QVZB-AGD7/?AD+G@BDB8JK6$Z!\8A)FEMB;$@
MH#T8?AQYS6ZHY#,?O!TD%3VW084%HF69&9MCB1+P9ESQG&>. �GVSDQWE6BVOP6Y%U &X
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M?!,[2ZQC]X!I46"4W,ST=UN73RI3,3<.W-/HE([email protected]>Y@]@._K\^
M7J^^C_MOA_W!7UY/P.N]?O5F;S*JN3X7F/>25XE:W$OP@RY@0T8E??"):U[?
MT-I(QDTQR?>=\J2L1K57S>[9P?R-!K16_9Z:1+ '*78F-4D8[:36@/R$@D!$
MU%)ZYIW6R2^$+ [I9L+NS$?-A-;4,CALP8P9X$0&H7VV0E$6*,6NJ_+^^9A6
M[Y]7\]]Q'*A+BBKP8\9@9>KHJ>+6"9-LT(8&TS:MJNXXRP9F-3U[D[U6[(9P
M;SCX+R>45-C9.8(C!N_K!??+A5_O@>SC\?AJ9TD#(-=:,^54U%@<'_?.-%:"",42T4@OQ
M"+'M6KTUM6N;>*P5,': UYQ13;%\G!$FQ&"HYXQDJF)L*YZTA8#7^(?MZ5YO
M0D003 J8> 8S.+&W,&&:001L(#S683]1;Z9[#]SK*)Y$4 'K'X$%=Q9B="*(
M5"Y%+!;21(RKYEL3&6XD;!V4S03FOX0 0H(,G4@>C(!GD21NJ%2YL9ZZ&V'U
M\M:KDV@V(-1 O,;9+R!@D\1:'R5:,445JV;IKR-F;Z@T E.8 
M:IA5DB1(%87+*0&B9A#W,)6;Q9V/*,+O_:@>?BW*<57Y9T&7IS^#0Z2K6E#M
MA#AWZ.RBJ27:*0[V#V(*1JUG E.X4H8P+\K6@FQ:&IB:9I'Y#5P]O @V5D*K
MF59)O//& E00,G'I#/R/I(XR#:C[JCD+ZBN%CE:++ )$4QG&TKN&\E)*:]4S5Q.S+\F;6J1:J93'
MQBZ!23.MF@M\ G80.I%F)B<$N?75A5U)WDNT,H%[U0!U;<#:5=G9S#0!C5 *
M?VT>>R2D87>7*-B)N$U"=$R!^,#S>RI="."L@K1"*^*42*9921;,F=Z-N)E<
M=Q:VVQP "G"3<)4FAIND9%V_C.OK\+99NZB8,FJ:0,QX96
MX.=M4%XE,'>$ ,1N-G.BDK>-:!MEN'5R/ 2S9?!4!:]_@0(KM9=:X;MZVCP%?N2+]U3V_]9_.#2X^]&P]YH
M6/51_-(9_JMJ[EGT\+9WQ_[DPR8[F;UF-N$.&Z>XZ>C !&J( PU6_O)Q<>8N
M]'233,X%N*V85HL6*&DM*WBS0'/+Z_)3M[WPBO+BW:@S7"$Y$- 9".<"'VXT
M7*OVI[#!RY>-RSD0+1N9P69P[#>8F:6>,)9O>$16544.!J!7,Z2.PJ(<&$T1ATSB[:J-J5RJ[4J75B6"T\9/8A
MIN9:J;WK#[&97?7\3&P+Q^!L@IC/TY0AUJ?!!- HRHTE6"20J]>_OI?_7"44
M9._.S#^(FBQLGOH,X$8#,DC21&ZBT8R[R!S-R6B_([]@Z>!+4VQ>=?,$Y #_
MG0I[=Q^GJ3<&,CL:.VD[.2BCU)71NL6REHU(PIY63&RNH&"^GY1+'3+VN!Y.80
MM*[+-UDG69X)+N);Z2"JQ9,A@H>2O!J\BY&^GK1,U(%)8(
MI9@7Z-EL]E0':VE20K%FZT\F6;NLMR-]WHMP]]4\"F8+F,F42&I4U-@DT6(0
M;*T6JG'XEPI:-[KSKV]/U0;?A2W(L 91\(SDF"A@:BP(F%)R(K%FAA]5LFZO
MVJEJ%!6'V*2+35ZPFG=]@Z%=?&Q115V4' 2%Q21D9L$9DJ5RVGD$N::V/SG?
M.3NBORQ2NX&J.S'0E/02 \H&;PD6HH_2>Z [">)"=$%A83J]D@'RBS+[,0#A
M:!?"Z_2]6QV:1 1_,FS?W=\=L'EJL@#Z22;8>,?"/.0FFUPU.LG-AI=J>;ED
M%^(.Q]2&R2 ICQDLGD[8:$DYEU4V.@GG'1[1;5;'-.J 3-VN=8,IPB>G^_=7
M,-HGES?98UN-TV)V 985R]P8QAE 4AF83TS: )XR9AKHBFB0\@93VQ!W*)::
MHR26!LD:&Q)S#.($(3BF2B!+@1L? \_M+!%J[\S237^6#T55XV3!6^P%90"P
M$,DR\Q%CG$R\8X81/!&>"*";QNZ8T+4V1QOIN2/QZQ&.H.!B99(P4[S07E,E
MK"6X6TTD:[;3Y.:\JB\^0GOHZL4 S_0"+Z7VO6=3$-SM[RI]JG.:-\/8:
MDU:/O+*@"Q?9:NTEH0#W 995%6H-B6"Y@FD4C>.D=KCH0:2P*/;;DVNN]Y]7
MXRKK]S9;>9^>F](I[6P.!"+32"S^K^$JI*"LSXU%0+:\R+J6F#M0O2%@\U&0
MJ"UV%HJ2<&ZCP)1#@5WC+V,8;-QCG1X>
MQ#$;XJY--98?<#.FA&BBVI6]/??SL9A,!M5+5K+;=I;Q]ODJ26>V630_9#28
M VCP>3=GHG"QX.1JXKH0=H[[-Z>2YF>1-I8( T&F@&5FE#0N<<8AT +O;E2(
MJ7D$OG8ZXO[D=HC1&:_XS.HTQR>AL=1/;W,>9)2-II;@R'X)SYBZY"Y/6[-U668D18+TB5J)!]=#:"
M=U Z>"^B!2L.%)3J"AFA.0\*#=XW95(<4SUYJ^]HA06-2N&,4 IO^CVL4,:0!)-EEIC/%;<<<01%1QF?UGA3,/Q
M,59+][H_L2T\DKYC7%Y\*"XZ_2%@P9/3W!]W.P.LJ+:;84J,*QU9E50N3;"8
MQ:(SX8PQDWFSQ2R8L>WM[I84[R^ JH(:B\45R&
M -!0-4N%&;(])EQ-Y!W9'%WM.+16B$BJ@B%92.ZY4TY9@AFD+'O6[.O*#-W>
M JPF\FYL?CHOBUTK%VH9D\1.M1#D9):,)8;)6)52)SHWPLX#\%E1>4=&OXUV
M3#;D3+$Z#828T$9^ 6&Y;ABIZ[DS[@\,=[1,V49RV0>H
M*$,#'O_C&O"=M_!_.A"..:C>,FZ:)YCI@XIDK27SD?&8L1*[E#I1)Y5CQ,.\
M=]D(UZA0SV#XMP99AZ']P6=^B(* )01P;I(,1%DJP.#YR"%0]%8UMMNH%ENO
MN#P!D>P[\ZW7A$:'Y\X CE-JA8HB@,)X#H:2-L3"P&8^)[GL,_-C8%CHUBKJ
MP!J*X!V#F>^=4D1 U-*LH >XX3Y$\GNQZ\F.X*T@#,\T92D"F"Q'6.,A@RQA^3"<"V\I,)IAFM%#41GY=:AUR-+
M8__I+JEFTE-)+;AY;6T,F>6 3:D(:QZFI !RGXM,]IGJR4ENM -92")-)BZ#
MNQ1$3#U]$_C(K9>2[RB,=>Y=.[BN.4QV:Z3"_29P:ISSR(*G)#;<.^62;6V@
M[D[W@T]SKT&+#1,VARQC)"Y%7$Z(&0 M%;ZAU%8\E-%[+*_N&$;LFGL-8,<'
M:I7'\D8 ?CA@(-/6)"2
M6Z/A[87QJ>P,QU.EGJ>=[''@U*FDG?$93!&XM&@]\8#>,Y9CBY8TPA)NMEZD
M:*=PB;U16?3/AM,T[>YU]0 0!0_,^F_-&W/MG(;$@H5HVWBM'$!1Y6S@(ACX
M+_/)^= P:T=6UZS:#M0=CJM-:4I,I^0=R5$*J1U$',8:D7UPT1MMFZ>;ZU'D
MGDS-KIX,L1[XR>G[$NQ(.;E^/^@,)W@6Y?*BD?F_54$2ZH-(V02L9YLQT8I 
M-,7!_T"XV=QG6^!D.XH.P<.&((+))5^+FY7 G0?!,NN-4L:BE2?,.".%PZ/') ;E
MFFC
MWK?^8+!CZ3HNL=%.N>5@37E?K_37[[G:TK%UZ%YE+
MX['W4\#M60=AG6..@FVT7#?[03%2E:3:DI8]%I6CB,P+S5CD3FHI?&;$2#!K
M7CMO6O8\5@JG$0EOH&KM3HP"Z8 9PM*3,D@%JD6"C=F82$T2+;UI5HEI)57'
M%Y>=?EGT%O88IS_A9'^WLQQII+A]H@S!_GT0B.D0C'>*9AV3$XV!;2%U(T4'
M8F/M2J.2#+.GHQ804H)F.N% Z!Y;@+HL&Y;H4&P<"$S)E(GGRG+*\* *=8'8
M[&#J8^72W#1&TK3K\F;D5.D5>(K3_NX^E]OHWIFF#Y*R*-DI/'*5XFMD8Q0B>S&0.8@S"&Y(3DFU%TWSH3TZQ
MWDT%5&_@Z<@7L3^^'(V+WLGI[F?P,\?" &!!*95,3>MD7%'A:/)1
M2VE VS0$$U@23\BD8],8/;9H-NDFA/U*,\4L>"A*-"AGS,%CZP@(*FBS8ACC
M3X"=AQGI3(7&J1I=\$ZC_JD-9KR7(XNVHY:^^(4
MPIR%&DCI.S V*GO]8:>\/IX4%U55#GBR' T&\.BL,MG.5H""P4H IR*G'+ ^
M;H=AY0L(R"".,;XA@"-,<5@V^O?(SJ-);<.,"DQ 7)%]M-YCCKN7\(N4GB=G
M8O+-B GBC5J'J@>5&CQ^$PYXB!;V\;DA9ZTQH]@;+.ML4#5'4$,IT4 &0(KA?&SE77.-FK(C-1>M:J9XF!;O2MT&**FL&\UQ92K@4
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M$VV;'+,#5YLA8M>621V$HY9R Y)I
M.9!91P6KJ)J:]VO<01R?%[VJWGW5F^-#@6=55_8[6[EMKSE$%!8M-UBZX#'E
M3'NJ*2[@AL9.)LRENNG;2-&=&5B[ZDR!=F( >Y,H1:;.*1U25%C2+V?96#91
M: 0/P<#.B6&&>("U*06+U5(=A/\I)L%!T$F9W"S91;70=:V8?WM[FM8>C+$L
M:6H$QXUX"O&3-]7FH@I@<[)IIB)!2%F/"3;0]*'S[;<.:',?OGX'1248S!KC
MM<3JJ-C5)H.]Q!PJ,$=)-#R9,JQN'3<1=%?RUPE:&E]8HQK7'%BU#8/8D"9&[<
MPO'@?QW'O?S,#(_*"B33JPPA3=/?<4UV)'->-6+'\S=""P[#G<"K2<:4A?@$
MS"XUN*;>DBJA)!'+ &'ATUM3M%81(4#EQG.82%9R@X4J0K(N>:\BR+ 1:RMJ
MN=F1(NPBA%6+SD>#7E&.<6%Z12_T-<<'$[4.YCO,>&E "0D%#*JPBB(!2-I,
M8U;@1%;2V4K0W8A?>_91QV0,S8EP*QWV!0!UC:>9 +B!S"I0?( '@Q< ]BT
MG)-B-,.$7)?UM3?L=8\%1H:X-1H)4TIY"%"8-XDP
M@%9,)>VM:L;7LMY?:1?F-@GE\_ *Z^;=W#UO:IV+8D4+IF?6^,MP&=&\>A:T
ME Q,O_6"!088EQ!A%I5KL82U7"_NK<2V)/O1\.S332^A?5M'X'(>GB?F$$L"
M]LJ& YD2T%\
MBO7^ 16==9"XD<[?.N6_B@DJ3-6(:7^'#+%F\CIK$IV1D3A U928J(6! (*Q
M1E@,R*>6!KV&E+TI7MM#!OR!\MY8JKV,E$&4KC,$.=@/@/AF/R&.BZ*'HGA?
MW=64 QP#(.&HE3CO2.)4:*9])M8U;3RU, (;B=Y>-_;5Y>PPW][email protected],&580
M5RDI&(!$$]&D">%);6-Z![+[PQ%]?SBV*OW[?625[^D>O
MZ/_QKCB#J&HXF1GAL_X?">QG.!_UN\7QN.P4@W>3WB]-J[G8/R,+5I7US EF
MKC(Q&DHDKF<&ZFAWWBIZ__CS&N=BLU"*NC]^CJMJPW<;(NV(93GF1(F6J'* %9VT2EMF36S6$C\"X\^V
M8:F%N$.QM"F323(!W@? O(D0S"B/H277%G>ZP)$VUA8TJ:7\'I2C^2[M_H/$
M0>1:9)N=CM+D:%,@4A+,_)'$I9:,-B)JZ]/;4W.T[ #I1M$&@4VDF19?962IJU\9BJ0D)D*0J5&EM5F,"G&E-Y!66W
MZ*%M WWC@1*L,VF LD@QZ]X8F(D=UPF#P/'0$("4371"AL%F>:R-E56_"!B^?QQ=2B7$GA8
M'Z1(4MH ") K :$GEG%)2C=65_7SEPK@Q2KKXT-QALMEF^IYNNAL!NCA$S@ 
M,)N:9!T8![$IIFFS_22I=?2\FX#6ARZ.8U<%"Y-=1@=C5^5P6 @?/A9G6Y^QJZUX AI*4HD$&BT!;WL(ADPFP6IM
M(EU:8!Y//_+Z5[I YDI2%@F^Q74W.[A[Y"LRK6'F\0QP3>)>O94L<^=HB(ZQ
M)N:DAM02Z1LT[$C@IM %/F8 #%,I(A8QLL+:F+"#*,N "QJA"\-C^7L0> < 
MG!@$@"9HSX.4P4=P1L1+B2!>1])$+1 PBEI>;@L9.U.Y09!)&J4H;B+BQCP@
M+$J# 92.55"L88V5AR-,3;5[45EE%XSSU>2J+'[K#_L75Q?O.]>5]L85G2U6
MDTVS-V@#J<+^XLZ0%&E0),'65.W!""Y2?*TJFNZ("0*7)'AL
MB4S!U$L(^VPFE$H-($&E9OEQN,3WX6F!P/W8&UV5>[!G#0R5% 97&H!PZ;RE
MP1)GHTL.<%IS;ZVVN;X[@7NQ5Y7;W8,_@XVW:6 ),YTA6#&& XJA)EJE.%>-
MF41EK17P'A3NQ^"WT1[L@2GS,-V"XB%*%9@/G 0A/%:NP'KYS13%VO+7SO3M
MP=PG0 Q%YW12[%B]V@O'\+P3@0B*"QTT.&2).2K$XF)+0S?KB5,[D[].YQ&R5M#]M-W3G?)V$&5"4
MJ,2YQ%T0Z<&-"<#$D4O6/'?/:6V!:3TQ=R%[K9V7+E /""9I)=$B>ES\CR*$
M3)&E!MG$V+N0C>B[+,X!Y-QV>D8?[;YV^@.$D'E48O&>^1;8O&Q#E5;YJ?-]
M]X58SV5BP2>5K0PR. OQ+A&HX.0//#R&'36J/,")>HIX1)3:CE
M$*2X)*W 4Q&IF5)6*Z/^T,)876'+#7NME3WV5I&4G?12>*8_Q[+_\*+)I.Q_N:JBUT^CMAWC;8ZDRP13"V84 [ EG'80KP8&0B$\
M>Z4;"84[*<\6!-\K[YM"-IM24@SK TJ9-3-8R-LF<"(@".\;O%-A];WRON"#
M]DU!2=+A-C$H=0 [J2C\D2F/W"CCJ&L>"X"0MIY(6)X RUYSQ1:[2'T$I1UXBC;*TKQ5[$
M3B? O@+&@E@NY"^J:2 YIG:GV$
M0(!(;(F@?$@Q9&$,4"\
M@;P%K5G.=3RT\?II5/52+8N5=8QVKPS+(1Y-ULEL 38)8CS8(K"8A#,(R)LI
M#HTP;GO:#L71IE-+,!K@N,#*2P#&.1IK,;7+.!=! 6-C]C!3\^5[G"BO
MAA))1=,,N7].F^:$6 L*)G;9+Z!X"D9^Q*[_D0/.#SI8XP$:Q<(@4NVN:H;% 052Q6]#DKLR=5D
M/.D,>^ U=Q2OU#1+F5+(CH)*&V]IM<9L3,A!2+H[Q0NTW(GLM8+62GC 0Q"R
M22L%H18T.X/]FO0?B$R*"C$2+*!&IL;,X^&^.PP(YM["^M
M)+/1A'PKTM8NQ,.L')9CD;9N_*P*A;%+VJ+. ,7![#%_J=P?NK+X-^MSIA59]X]P>8
ME33<6V]QL8G"?R*6,[84L+/V$#4T(DY!H-W_4O^@ =
M $5,,&O_,[QKCV1NY@SNALBH"2(T)SC6PF7@I[@AH26CL.E3=R/QL.QMRH[ 
M@G&:*8-)DTH2$S/6:^<0C*84R;I#FX?B"W4.U/VWS@37I*]/3MO.VNP>:',(
MUX04R P!]^N
MNI-_=,H2(M7K:D^O,ZCZ_/1/^T5O+Z\+(( FW)^/R4E'G6? $4O*!$)$< WC
M9FL-L;8DZB!\K-V4=XX 7B0),PXL4[Y*DU-6>2.%5!2=V8TFNHN2/=NY;8QOV"JPF8?2S#
M,3J=? /XO6FYC:2L>=#)),"K6#(9 40B.1NAHF]Z62:>L #VJC$N/+;+I1K'
M7#+-P/2!E<_50>4LFJ=@C* -)7XB(EC, )Z45]46855_Z0SBL$T)NMPI+9B(
MPJ4('AS" 9BL-ENP29(HTDP^(?2IJL+LWGQ5 LE7)7K:W/^.?VULSJ<,*$.(
MBGDE'I2J'*!L"+/\<5E.?I:)7-O[,@'49(-
M%@RD9E614.,P,38'!F9=-;.M&!-/?5+\UNF>]P$47R_>MT$,E/@DF'18>5]R
ME2W8"B^U"(G( .)H)JVS>G!Y7V)86X4H: 8@%0+YX+#5EO%(;?+N+'H2@$V\:=:[50QFS/02PEU_SV%)9
M1PYA",0A05@/$1E->(A)0939R&NR]<813T<$=_)K2@8(1%64(8(IR\K((%(B
M+A$CLU8M=6_54YT+=_!KA%#.2 9L XX]>^XRY>#4F0*A"!F:QT6J\B%/6@K[
M^#7M1 @L1 &87V)_'0)!2Q+*Y,"%;;8. N$\=3'LX]"]H>@.1[2=4P[
M!OY=0Q2GA6J(89H=IZMB]; 5-8^&1%H,ZF*REJG
MI'6T[$_S^JQU35,6%G<#98"HRH-!)C'8G#'WMID7R(3:F^:O_3$8QCPJX^CJ
MR^3T:C#K++'STI##\L%!Y8")Z#$Q^%>6%E/76 3#T; 63.LZT2N)V9_H3:7$
M&:T$ALFXNVU_L,C-G8.!D^C
M2 X1!HVN*FQJN%>1MB10U:QQ*PU[$+DV"=Y8+ )+. 4EX"EXYUC*@8+'X)K8
MAN,T8$QW)7)<=,KN.:CU3>MP5.Q]4[PXBT%9P0'G&=R+]^#O!(=0GNG@DFK6
M35.UM+2UY-R![DUE>"#42IEJDC.75H"%4XDIL+@8BWK6[$U(V-YT8S7+HIW%!!1LM;-
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MH-.:JNJBQ,4K!="(:V.E, F@1K,T@*@53[H[<4]1J7W(%//(N 'GEA9/BO#G+I==E%H(KPE$PT& .)2SG@@'CE#$I"26Y&FIKF[WD<_'
MHOS:[Q9[N3XI@G'4:H8Y:CD*FV MFUIM2<&X
M-(EHK!L1G0-OG9/E@=E$;;-ZGR!KG,LJ6HNJN6B52X 9!'+*
M-#M!JUIAC"TIQD1&W\&2U3 !X6HU:?>0;[8PLX@'[email protected]+#:J
M2PVQM1*Q#YF;A)ITR%G1K#"97%#K/996IRYFS5BS^![E7!^$4H=9 &?%=)UK
M?LO-V0'WK5/VIATECJMEX.DQ#TS6^W3>&=[D<$#L?EI@"M3Q\'U1]DARJA+8/'S]O&@\P83J3S U8"!^I=N#O)9@%;[$)!(LMX[%1@9_Q
M:/P5TVO&#SLE&,DD\A05CUA?P%M1';BSC"1C3=R0 /]0LGCN\I]O&0PZP]\[
M%[=[AI^^C3Z=CZ[&G6&O@[M$IY.B&.)-F\9-*B4R%L@ANCK829+2,'6X59P9
MVWH61PE+%JMWOPS>H>R8IAXEGX/GP>!F5$RALF,R@$&+;>=>L"X8>1#7\F,.
MQN%GE(HD +2&"26X!:>$#2AP1L7,I33FYQM$B$6Q_'C1FQ9+7)_CDR6BOHLI'#.Z*2]SX%'+1V-;9#7*"+90PS"LCR>[QAL.R.PT5R(%*7/
MM:?. $"J9H0.6BJ^X5CZLQJ'WSK?L3!CNK@/&;I]
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M-5L^ C"/-4"BAX@U5O/Q2&*Z@Z<^F!^QOBIQ!<&&XMC63'->K0LRF/^24-]NT%EA[
M[G 2:K#PP/)9ZVB35Y83!9+05()8/%@^;H33A!@"06WKLJ:4G-@?0D#'\ZHZ
M9%VE,^HI]JIRF Y'D_71P%0SC@4&DE-M.Y&<6ZX/Z%\%8P[<"W"IJ)X!R "1=!IE5PA-)?Z/W,OH?"(WM+XH^84<$*7B<NT]
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M-=&+7KS"FH[363]]]O?B6W5IJUKONTO@KF4O:VN,$"!3:8B@2P=4,T&Q#&0_:[email protected];%F
M 4AKF:T=(VA0L"M]ZXY\TIR295CU+6HP;\QQ*[$8'[@+,'2I>:Q9DEH-B/7T
MU8S7--R+_<$5[H160[!@Z>8M>[8Y34 63V=KZBP1S"0B9/3."I@!2D-XX8A0
MK:MY"RSL2>2]\-F<#XM\>N K):SZBKE"+%@2N9-96*L54W9#0>K[XO/D=-5+
M=AU'\*DQA,RDP1)3ACE"N,'>.90GX+UM'*GDU'"[BGKW&,X".^]U=Q\X 2KAB!(Z"Y*YSI%HPZ:L10BR:5O"Y-;C
MMIFU6=D-@(FX%>6&O68OQ=@?=P>C,02%GX O/P";O 6PY "/;\'39Z>$P'DU&E_##Y?S.\,(A=^%Y1;J,*
M,RGAL+\E-2GAOQ<_,QR5,"F7)8OWW+ZX.AO\JEL,!C?W5/,7_SV^['1G_]Y=
MB2\ZY5E_."6RY/SMT;\HI543/[;G[Z,2L!"1UT0;.=R
M7+R=_=%0]CGUY>U?B)"1YN%?7IO7K\K1M^G?]/;>-Y/>_,^R]0TW;-X01O_M
M3TLOFG^@]:7UY^_XN'[4K_],O&_0!G Z$SP&?Z. 7T:3R>CB3TNS$&W5XA1;
M_/?T_J6?_C][;]N<.)*L#7\^YU$S$@"@9C9W0@,]MQ]GIGNV6[/
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MCQ28"@6VN[EV7E99$;E[ROL]P5"2=! 2J)>RKM51)6-U
M6>VJMWO:U<]8'OJ6,J/Y7.2!G/T-A!4HF:53H)1]@\\S>798A30II>M)Q,O6KXK@U\YT49
M)LT=(I:U-\74G6R\1;Y#CCYJ<[KAZ&VC(MMA%Y+5A7O(1Z[I$>UQE5DC3N.:
MH>F:<7E-,QA(MF<#KKU(>3]!.2>O,E\)AHK*T(PCZD%HG8BWUT8T;V/L_6WL=\C =%D?8I2KG6T6!M
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M]:YY-,Q1@@VC$DX23A).$DX23A
M)..V:0'>);:QCR*R_O8XMG3NVWS:()Y"9#F= 9+
MLMB)Q&6
M9'&O(.N%8TM:A"UYZOH%.ILCCB..JPOAB..(XXCC&D&XVA"+.(XXCCB..(ZP
M)16' X91/(MBEI8[4E<1=FI<@EZ[JQL&X:E0)+:R2&SC1,)LDSB0.) XY/>]
M-Y6=\JVN^:Z3/Z$0?2!I(6G9SIY2EJ)2%]ZG#81$8G^1,/6^H:Q"CT2"1*+Q
M(M'1C3XYW0<'J;:+\5'!V]'BI/7-D%(;Y]I(M(O(C:+SBV,D,%Z&7*H+MI%,
MDDR23-8LXOI+Q(>9'R:N8QR;9$H^,2TFVDVTBW'<6S
M5!<@(^.,%!@I,%)@1SQXZ^DVA<9(@9$"JP/GD0+;F61=W>A7U-;L4O77;B>5
MM5%J$PFX:<-C3J[?MH;?J8!L#2,5<15Q%7$5<5432$5<15Q%7$5*O+.!?YS"3=^ 17P>1
M^\??__N__EIW(,LSN/\Q_WXW>:;X'7S WO1K<=-NC86=P:U[W;*=WW>]>C]I=P^AV
M>C?&:'C[[N\O%J-,S3M_RA/M$W_2OD13MCF,5KH]\$-^E2^@:1G?_7C4EA,E
M\FDL]+0E KZZZJ]-HI'8:)E,(98"Z/09:'+!9]IT8S'#&>M!9PE7&,/,>>"
M)+HVBWT@Q8P%P;,&CP3V";F+C]*>_'2B1>.Q[W)!N2<6\TF4P?T@N"[7M:>)
M[TX$P^%@9G'TZ"=B#.,HUF*.Y9+Y&4P7!!^+86+Y6A3'D]A[6*NW7.<@SMA\0/WX%'B;HU_F_$0KLL2_!7O
M2]*8X5I=X;II4YY.(F_Q5/D\>/?\%3"V+^4GL22)7)^E\!)!A%>IF<@YP;4K
MW+17_+/=,Y0\2*R9FB%9CJ-F2,@82'4E3TLGR%U3^&62:!S8WM-^83%P9-O4
M-51\@@+PAZWD=3IP6S)#V7CDP7.K(:KC-DMA>YAK"BE1#IJV]J=EBL/WU+_S5E,'>R.Z&CO4RMJ.4UG,V'!OH_Y%)PK&.%)DY_K
M0A-ER2'5S;F"RB?=(@30H^U.YZ W=NGO>QJXA],"">J](R ZU(4?CB]IYR=0
MJ^&O2X2B-G6[JZQU>%U6ES:B"N5FEZS4B]R([';U^)EUX0?:B X6*&OU:.@R
M-R+3ILYKM!%M+S>[X)U>Y$9DV-5#PM:%'[email protected]?)>9LG/)8J5BM4JH!HK,N
M78-VHDIVHDZG\8)3?_S'[email protected]'J]X]$V.;7Q5J:/W["-6E3::[Q1JS'VSBG=+
M$UY., [3F+EIQH+/\T326[B'!7C4_0M+,3WY^:L[X5X6\#L4<4?G2Y1Q1QEWS9*T\Q,HRKB3"@DDU.B8?PF#K0*
M@,L"WM5/M'$FP6'=($.035BC($))XO$T7Z=0H'HRUY4LCZFLH+P\!%-%-R04
M>XC 4[UG 2:^:LF$\S1I:3?CL7RC]K]9R+6V(2>DBP<6$A3SL1_B;?#R-"FS
MA7S__;,F4KGP"S],(XT!MSP)H%<8*@LU-^:>GXJ52"3:\O,"!%=[C^]Z=X=7
M_XQ7#^75@^*"=Q_$G?*A,7^,@D>1K+OMD[_,;UG_>%W0LWKAY
M1)(\[UY^GHF@^EB%L,CB2$5P!5P/EQ-2FL*#:3>A%PTE4X/T6
M*,,@9$CU)+M/?,]GL<\37?O%]X9LIMV*=?%!8._B+$GE3+[Z@0^+KOV3!0%_
MUJY9^$=3X%*%WGY)U3G$<
MC\44/#YF69"VM(]C>*C\H?2]%KD@!?)]H#K"*(6GQ#F0,CP2Q9G-9L @@@H/
M8$ 5"-$:T"V_Y8F!1O DETM21K&$@(:W^6D@)YNR/[CV" P99?"C *U.2C33
MQ3M!60 UIKY<,[U05#P0.?>18&\)1RW!IU$$N6\VRS6D2.:&I\+R26V1 U;G[#)F+H@.(L$KDI=N(2\E$VW9
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MW?BM5E_5!')%73\Q8-ZCM( 7.\]<$/)!EVT[V)]SKKE"#EL4H.$FBONA] 2T_V5AAN8+)I3A9_XG
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M*E?W2"RM3,^##1&9VO$B.^%M^ZS]$F?A2J6QLJU]=O-GAGS],<3J;=R"4_'G4YGA5&2GNSABGEQ[O73: COV0\RF,[email protected][AKI&*8V@=
M_!IX"HA:$8 4,5QL31=B=#B,PBL^G071,VPK'B@%%X.J>M[A+\[#EL4527XF
MH0EN0%WI+[;O1'I?"3+H!%8&[FYIMT?M[:;HQ*M\RC1E'A='/$#BY1"OQ#A!
M];I^R?8'/UF1P-)"_"R,D724&).$E-8]]%NF*QM^Z'
M+/1%&TX>CQ&F!L]&\:OY#>4?DHD W'XBN466GM)Z7-0_Z*PLQ!
MF'T\=P&J^^#R@1>@ZJBA\@4=Y)D!RH*&>MLP=;.CYO!NIHA]OJVWK=7BQSW6X1E 57R
MT&ZGKQMKJC /Y)*7BD!7ER=BF99N&ZME;GN->+W"TB;L$?OQ\E JR*6X=(F7
M[\H?BW-EM"TTR96.91D_\D<>HU,?SK\S?URT$Y8*&36PB$[A$7*8B4BG&PML
MM3Q:$&:8&R/4]"NB6/3>?E,.A<O;?4
ME)9+/Q1>\5[$;HHCZP\;;K-L2'-Q\,8M%8UK DP11 M^BA0CI/459D._Z3SX\1B1@J([95["I;S! 
M;PH71;B_VJ\9[&!(G8:9G@LO[[4):>_?W7S]]5>P.O&85$?[4G\K(MS3*UO'N8O-%64!)R$V*#X)(
M^9XG222W05!PL4P[6Z;?BR?!9KRTCVOE+1AL$9'/^C(T:G:/==Y9CWB:U$J?
MI.@B)? 1??YQ\T)3A*=[$)YNO]55BJ;;5X*F
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M)Z(@ 5%JY.F=*.8M+++-5CA]#_C^BNNH!'@P_8U&?1#G)I
M+05V5L+%17DSQ6_8[E5>>H_%Q_.GBF9 3'MZ69]< )4I6LMV2Q%*J7#QUO2A
MN"AH_"\+J%:)ZH5.W,J7OR%^JQI-956MJ38#?:T"; O(^[58M80#1CA@BG# 
MNDIPP'!$%XP#=MS7$Y(6(6FI!D)9(&F5MM=M-?511RKW?-%VB>"^2#A.)AS;
MVIZ4*?,VQ_X6/N:'- O(((V0@K;,?W':>J]??;%579BEZB!LC62N=KO$!0K8
M_\U;N)A6]80Z%Q$[-.7 :?J&1I@EE0I079:YZJV(=IPSEHM-3 "-%J'WW9XRBY#V
M*/*ASEQ<*+9 ATV''#:=J )(*:7SMXEDI973V-I(:K_?6]MT_N@DKH)LVKBJKVU!4TY+7;5P.
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M2-JKEO4'C>"=0]78I4/'?^$)%^$D/"/RP((-HAF>D9%WJMX[/;M>HYG]YE5E==W\!S
MKU0FT2+1.L5V?_:"=>E>]D\\Y#$+Q(;/O*D?^DF*2:R/KR?KDE]1C08Z;;YQ2:XIO!4];]_=?O
ML^3J@;'9#R,_<8,HR6+^>5PN,/\B,1(PWSD1W:FNL=[Y5_8LBJKO@"C70>3^
M\??__J^_%H^Z87$([)K\RF-QQ_PB+,U&,G[AX[^]NQUA0<0_S'_?C=YIO@=?
M,#>]:M^85KMOMKO]H6/?6.9UQS:&G>' Z?1&=J_3?_?W%\M2)O$;];GK5O6U
M>F65RRP^KG9@XJGV,U:ASWB,9?W3*)0MP%Y=^/J4\P_&*0S\01;*@[1Q-T6X
M"5F/'\^B&/L0PZ*#4"=8&,\2S>.)&_OWW,/"_4\1_&[JLKGQO(6HK,^>Q=&C
M[^&!J:BY#UT_\&5Y/?;7A1O";(J@ %&)F@<0-N&>)
M[\HK_2!#: #$T0@*X@NP&8VE*8PMDP. B;AR242A_P16#:9QY-ZD:LOX]P?1
MH":EDQ\(RZDDE4JG28^
M;"0?4NFT>B^X<.1>1QG;EX>/2-4F"']MB'6^6I,XCK( B_L^%5&F+6)+1XN6
M'^S%7,3Y3'5$J:#!DHE]*-0U"-R6-M2$Z<)W15)$I(B6%9&M6^J:O9$B(F=R
M)V=RM#@')'?RY/J_/DQ8.\(1QY$[N3O%_O6R:4?A1LIF.5&6)BD+'?73RQ+]H+(.96B0[\^C:$XMC%J;PU\OV6KK(:UO?=&ME9?9=
M]B2;O;),*RENB\?T9JF4"C$4>,R.>O0"81&.B5%8%P&H>L'MFE?5994:5^VMCI85G/T;K:Y3'X+NE!+0#'95EKE4(R5<
M.Q.*E"@IT5,F4+6,(]JHI$2WLFVW@]78&IFA6Z*?4!3M=>7QB\$?4,ET^'&(
MO=5QR!ZC^C5*8:H^"X)G:>OB:9*2,R3MB8.]S;^Y0885KN,XFDI4B@(10L)(
M%% 03R_#9&OB8RS!)SQK3U$6>-H$KH1_/!@#_"_UK[P7IV%>)DQ\] #@03&?
M13&^R9J?2+ 06"F/ISR>PL#%XKQ#)G,KC)C]>R824+EM=9;M96! BR+R!(6PD@B-,[$)3"
M(E"+!O@I)\5JWCV1]*B5VLN[( 4S#^3/KV6CK)8QB&8 (IJZ8=MZVZB^/0\=
M/ES"\7[N' E0NO)[email protected])]7@5=OW6C2]WY:(O;CK!?7@02:KG+U4:V^GVL
M-U>'?TZ):.>]4[V4K@VIWI>X35FFI=N&LHKINJQX;3>JQA=>J&TO<_ )T?EY
M:99N=1V]WU'7ZY'@Z[<4]7WAZS=BSI>!Z6^9'_^3!1E?@-TO$.RW *>_;5_;
M W-P\17';VP*,LR1N!SS'EYZ]:/-?'\T5-:('@6;X:6!&/ANYY
M^L1Y6#QCQE#SP*LP'A#)MT\7ZZ9YB,4/"@;&[69QC%_E=P+C>[Z([,FSJOR0
M2W/ACH>:!-?!YC
M*/89TQJ!IM&<+/!@F%Y^KN:'LPP>F/<.P&43QU^Z-LOB)(,I%3]M8,H\77(N
MU?CA=A?-?%=S+",_A5LPQ6)@#[#8DBTFP*Q@IRY&!R_],XO0:!6KFHC5
M<,7YFJ2=C+SXR,*H]0O"E%80Z?+^9T$+\X,8)KXIB)Y>OB@+H_N$QX_B4"NG
M1WYC^T-+^[A$J.+0,E_@\L3&+ BT)S^=P%@]?PQ\BDLM5B,IR#V?O)X?.(J%
M?I97H;PL+=;+P>97X4BDZ, -">@D?PPT6"P5GI?@6$IC*_/C?.7!,%H&Y<*A3UUP'5ZT;@]A*!?UNCCN;D2;)9GL]R#^K 3U.X!D@41L66
M(NB*ND(JO.*V52514@XY'5?W0*&[D_DH8CX.,"4#C"C8184N^3WS'L0?[#X2
M2DD\)IO*\RHY@'7;I-SS,_%L,8HB-V?-(!JRE@/!D(QRL#5=,R1R_G_6A8I8$=B9#[Q^"+14CLN;J_ JUSE;"@
M4"A"=DKY/MC'*,94'V#',N.'><@Q(6$L *L+4](XJJCWV$,)
M#)TL24H]E&RP$#X+E?6FD38?1&ZA,M>5DT/>WVX,C'A,*8])!17S/S-_V99;
M6+2P6B)-#&RU9"(F)O[ 6^!2+A(D<26S4&A(]&"0^TI?SMBSW+'@7O@RSF!=
M^3?L\\83F4H91*BE>#P%=^D^E18S&'[^5/# 8EC%E@=J\TUN(U91S"J8QAB%
ML)*PM\YF @B>SXQ+D\9E<2Q$.E\R5DI"S;V#K95.:Y4TM/E= K?I
M(B@&ZR=*VW-/TL/K2CSST H(7,0CXOPSNB)UT\?3"W%Q2
M8UB]Z?V>)2@<_A@4)+P!6PB"KY&P6(Y8Y(3?8TBFO,=*%V6A6\N/W5T0[X3+
M[*(6X,*A\7CQ896@BV"T?YGN9!"LMCK:+];1M4OMK=EK]=J=]H]A:GL'36I[-W3MG>D3/A7>!]?
MX*PIYJGH'&=:#OAOJ;R"7'E5@P5^>7GUPQWLP;)YMF1VG#H%Q&Q\.M5U;A9*
M]WH'+^"("5:US^E35[9^0%5Z;9)>VOUVY?2HR\KC?2?,YFQWFZY_P#.!G2',
M,PG(WA(H;&Q.;O\: /;"2*J
MTM.%?^UX^)3GBN:YPR+934;Y=SDCW!@3$L9*#)U/SEG,4Q(& /$PKQE!Z
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M#8]]V[6'WIFRO.4AX#^8IZE$R$)L12(
MO!3FNMDTR_^>8H;'?Z2;)F)V^1U#G
M/=,\P7EZK4[/JPDO'9_#ZMO=D7BL\&&T77, 2+L=Q'F4++0:EUD*9&SK[1YU
MB#*X0II8O28F>5AAML$B%%=789B'!TDD2"2.P'*?>+J@::UW"I%)!4D&&
M$QE.) ]D.)'A1")!AI-BPXDZKF_JUO!:ID8UU6U')&P3M%%MB'6^:IPXCCB.
M.(XXCCB..(XXCCB..*Y.A"..VX=P!U;864[3/==AEL @>2PK$K#'\,2?[5+@
MJCQ,5A?***N.JV[.%53#Z[V.I6KB=5E)O.^0&C4*!I,6N"@M\+ZG#FYFE=$;
MM/I;5^J3BB 5<5$JHM_IDYE .H!TP 7K %/OKD'P)BU 6H"TP.5H@?>]MK*(
M 3D+I")(19R=BNC;!++Y8IZ5I=(U_D1BA*#PT0P;.'%W$L)4'YYWX)X+!-RT
M3-UPE.W!9X\/3:?,"DZ9+T>ZWCNZW56&U7_AB+8D>R1[NT28+-TV>[2SD721
M=%5@-QIZI^^0=)%TD715$1?5NT[U>Q?9C21[)'NK=J.CKK'/V>]L%Y\%_7D]
M7'LE0G9:B,,*K$C=ZJH+/KY!G;HP3-6V)&U;%RQ1[T&DC(KZ&VTFSV4;D"1P
M%RQP]M&$K2YR0_L7B5.%%J&I,*Q($D42=>D2!1:AV5$7SR"+D 2.!.Y5BU!=
MX/Y"]B_"!MS4-#)*6?!Z+\=J>$U5*^--R]2(_K3'ZW'\)CLWOOFQ9>N&<[R^
MV\UFO*K]@1IIS]K9+:0D24F>S%4S3=WN'K%+O-+$D$:P*V6-D ZM'5.2#E68
MOM/6;:NBG (R-$E)DI(D)=EX)6EU]'9/&0@3*4E2DJ0D:\&KI"15>N,&>.-&
M?2A*WCCIT&;KT+KP73/49&TT(?C4CED#<[$N['.H1;C;>7=M64U:7I<3[","F63'F
MNO#.1:H!R0*.95K*>* NZTFZ@'0!Z0(R"4@-D!H@-;"3&C -9;WBZK*4I 9(
M#9 :(,^ = 'I M(%9!(H4 .E0X3O4\P!6W?]T096(EK@A_PJ3R T+>.[)5XS
MD;,$6?T05$7Z0UMUBN'=A&O#: J+^JS%W,4J.V^.'9KZ4:CQ;S,>)AQ^#5B*
M3=(C+86;7DVGTZ*QMD* O22XNZ;/^#X/TECH*1O2*E;O7D,:1[$@I9*GI9.8
MXC+^PV)UH;5/7+,/L"@K 'ZNJ89_7Z< /R8R[J?_(@^>6-E"W
MYF+8BXVL&+^B8?,D]:>"D=G#0\P?X$]MG*59S->S?;%(JSSN)_ 7_![ 7OY&
M NFV\NX4XBZUJ LBS^.-\EYZZM(N;;Q0&OBY_-HPBJ,W\P4)!:BX/
M@OR:O[TSWHG/H/W=XO,:TM_Y4YYHG_B3]B6:LA739LKB!S^4@V19&A5?2#M*
M?//D>^GD!\=N]=L]^[NB[!?VG8#-$OY#\<>/+_>:Q=C+1\3S_:JS]LA[^T-F
M.:R^^=W;&^+:S57>?^#MO:.^_=!C]Z:?NM\L%,4:O5!-QCBE=VS#9UMFQS0^
M[T/LVN]C/F5^"",\::.)VL,KJ$/G. ?P#4LWJ1UMA2KH_#3-+OU'MF[3_E*9DB6D
M]NJ"G(343CU_:JLR*35OQ:ZHQ\GA*RRV)WF4G!LV.J/+4IS1-9RP\($GFA^*
MO!67Q?$SO!U/L3-X6C1^(W4+TX0>\HKS(Z>8ML?@Z,"-E(:C,+;:=/:[9@$+7>"W5!MQET_O>;R2G*HL4D^I.6>?FJ.X
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M^ZCP),/
MDL32@%H\>75U]T_050VYF \YQ2&+9%6/ISR>PJ \+4M$JFY8AJD+PXP%&JAY
MB;:'-VHQPM:QV2SP!9 =\\,DU7SQ8%U[FOA@2N&3TPDO_!.XKDCFQ0?XTQDP
MBP#MOW?.0C_U4'=9C>W4GW>]9@GBIJ>3,
MF,\PJ0TT!?)T:V&@?0S%0Y*DT(LK+UWS0AVX,60/7/ F&$B)#\Y0 ML@AR?$
M(#""82-8TL#_ ^0*'@P[;!BE^ <0")E?C <&#DP+Z_K:[$1=#-Y\7XR.>U(2
M4/FA;!6#E@]<.V3X#C8E3] *7_0 >VD\OR''HX7+\Z1W(9^EW6(&RQ=YHL9'
M;O;I)((=#O9MF >+@6-]D$@,5<+:W7-Y._V:)?!,(&K^V&@FJ R7RKT*6 =9A LL7URV!)@5WSN+@ 5SIA-,@M-;(_IS
MR5^WQC"PG\"P0TERHRSP),> ^XN#>O)AM'+Q0Y!G+7WBP6.AXEJON"S["/6G
M2(U:+-;^66CW+"STG5B:*/&1.(DV8+G_3S/0;?=-;JV88VLKCT<6M?M:^OZQAZ:0[/=Z5^?
MG>4WR/&$5YEN=+)>$P5#!Y$$%DYU6KVMW+84EDXZ2DDGGDDHF
MZW5[GRSX'6CE4J6%5'G+$J6N[K=5X>45?>UQ_NJ[#A9(V53N_WP
M>)JF$2DSM5!#S4C%ZNK.3HBM^Y&K$5QSJ *[]%*>?T7Q'U=^>#6+(Y1Z;U=!Y(=^,N$26K.2+>5R\$3 '>WN
MTG:I&K+5A;/(76W [G8YPMG3[;8Z=+M+%\Y#73&CZ?NFZ"BA^5OF6IR\,K )
MX8'C%0">37#)[.E&_WA%J8U@(W*>3QL-KT2!U86Y:J6CZJ2&.CUE,8UMSQX9;>>F;UW;O>OVK7USVQXXE6?8+F5>=JM.6,6B
MBKQ9"4=G*TE%(<"8^;%(QA\84KA5)W".9AOWD/8O,DS)*8[
M M/=HGGX3S0/JXFRUN](XI79?
MX_%=?^9)(E$AHI!KSYS%I[15ZD*5BVPGT<8#[(ZJF==E*0\-H9))3FK@\M0 
MI7<>T5%JO!'Q.12>4OH4"0NBFB3/L\D3Z^K&&AA%JBDDMY"2-!LF?)2D>:@'
MW>DT??,3>9K5E>=I4ZYF>3NDP(C!79L!:8.7H44F!*3
M["1:K38-4*A7S!GME74B%7'547/6]\U%WY#3_C$<\?MT$'J_S'.K;_[,X E?
MY_G#\.-0HH+?Q0Q78V//HRWRW3N=X?6-H$%5;T/-5AMDZ5=\Z1JJ^'+K,4D^R*3;/^$_>.R+O*"'EP+',WH_)
MHD? U3B*KQ(&]ZY-V?^?%S4 NO801TFB96'1?D$3(/QKO@>.2T0CD^6J@?MG
M+8$E!8%P&;8SF3.XYF)3@2A^7H*N+U48K*\IB.+MR@X:@(#_/L9&!GB.\2E*
MN=810/_8&2H#!2*[4T197";FQ.T,'
M3W.GN==^[@V)26UV>0ZHU#A&4O?E5;I0>=6IHU07R'0_"2?[MX63_1,ZW\1\
MQ'RG8+Z?181'%?>=@*+$G>?#G;M7GA)#$D-6R)!?%Y'KW0\7B$V)38_#IC_/
M#T\.XM+*P,>;C**Z@>+\D0>:2?7\I\X.H<(-XCCBN+H0CCB..(XXKA&$JPVQ
MB..(XXCCB.-.B\NTTOJCW6VPTRKN^ZWUM:7=Q9PEF.F IXX&ZK"?I M(%I M(%Y N(%U NH"\
M ]("I 5("^PT:4LWC-6Z2M("I 5("UR6%NB1%EB>9U59<6=RP/" .BD4X _L
M@8?N;B<-A"V[0F-*.@,EF2Q.5LE221))$DD221))$ED$R22[%6219+%>LBBK7>M
M#LDBR2+)XLEE46DB+,GB7D'6"\>6M A;\M3U"W0V1QQ''%<7PA''$<<1QS6"
M<+4A%G$<<1QQ''$<84LJ#@<,HW@6Q2PM=Z2N(NS4N 2]=EV\J.^5;7?-=)W]"(?I TD+2LIT]I2Q%I2Z\3QL(B<3^
M(F'J?4-9A1Z)!(E$XT6BHQM]CQ4GKFR&E-LZUD6@7D1M%
MYQ?'2&"\#+E4%VPCF229))FL6<3O38KM% ILA"0KBQ.2R)+(GB;L2%LIR27)
M9?UBGR27))1;CN*9ZDN0$;&&2DP4F"DP(YX\-;3;0J-D0(C!58'SB,%MC/)
MNKK1KZBMV:7JK]U.*FNCU"82<-.&QYQ&G*8O_X(*<)=!-C25PTRM+M,\X?V&Q.UD\LVWJFF68727/UEC,
M<8Y/H7;/@7FU^V>@1)C&S$TS%L L4YS::^,XFJZ[
M+R=)B4!XTSW78IZD<0;7QMS3-9#8 /\;Q=HLYC/F>ZV]>:@4HG&!;7B\Q$2O
M\5#IJ4L:PWC!B/BY_-HPBJO&;^8,DE+@^"_)J_O3/>B<^@3MSB\YJ5
MN_.G0+)/_$G[$DW92@ 86/#!#^4@699&Q1=29XEOGGPOG?S@=%MFVW),R_ZN
MB(6!\@S8+.$_%'_\^#*VM1A^O$[I.FOUX?;Q*#FR7O^[M_>CM3NDO-\\[';G
MI&\_[>W'G7M#HY/-,7*J: FVNQ&TJGT7E'#V(R#>)CZMM&8:S#?O(6S>YV-D
M$]/5F.ENT3S\)YJ'>]C?VZN^&I5[5GGH-0(K.XVDN5Z4@0O\EMU"%<+T1*R/A4TNV)OXC%[/#ZW#UX%KX#983.!+3W8$)$U$Z$ H[
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ME&1UE.1%T6N.JMF';<HXR*^[2JR7(GSS"[G9)PFG85,I4%Q>L\46\]:]CJ@NE:I7I
M7YN(3Z>K=WOJ@LMOD:8NS$">[6ECR:1I+D_3V'JGTR--L[^%LSFQ_O54U=W2
M2,L)J)_XT\!UP7[$+,A?XRB$/UV9.HP9K3+3]F-8OL8/77\6\&27M-3K]L@:
M&4Z_U^T/;*L]Z!O#47?4&]VTV\;@MMVO/"VU(@80'U<2*[YP3-[0%D33EBG[
M*F?4)[GV8ZC=\OLX8_&S2$O216[M[>#KM>8G2<8];?#U-_'+E6'IVL_ :#Q9
M["3O!U^'FM.Q/NC:$S#B!--@$RW*4EG5,.^ 7^5U$IC(JY>3V/6B]$%F
M>6/"K3=/J\;,W4"\63P'U,5$F[%8%%*DD<;F$//:>[_%6W MB C/BS3@[RA.
M/HB,>RT$!DM2^)[%'HSES\R'M\ZOQV?-9L$S/-%#M'KX$$?,G>@@^"Q)_+%(
M\,]'PA*-^R+<-?9#D=H/0\/L8I:6KKIGR:(D9$X/G-#3A(N[X:XPDO02]V R
M,3AWW$U!V,58\N=[VBR+W0E>DB>]RW'CS.">?(B@9 4%1:JRQ[$G 7#8_&WR
M%?S;#$L4\%6EPI7Y6%FX& &F0W.$Y8?52B>1)V8)EP 98X9/0V!!$A6+X>$BX)A@?9@F]J^K:'R5)7DR
MMEA3ED\C\-F]'_CILRRG@0GG5'^"A8&KBE$\@'Y,Q+S,7KN/_
MLA!E?S$+F2;6U^5,8;M#%O2BF6"J&7)3*LJ3[A8I^/A0O^#PR,W)R/.:#5F8
MHOEPJ2OK;9!;41"+>>_?U.'HNC(GUYNJTM07%/VR4'F">W]9:#TDQZV0;A_4
MC=S8Q36++W_.>1QT7:%C8=(Q%[55KJQ& =% T1)DWUO!CN>O]$-LPB%VL59Y
M3LO,(RO80M23,9]A^02L=%[')BLFA.;PI_/B-N0HP2<12K.\=7[#/7_PPQ"?
MP<8HJT7B8HDS;<&:O17><[,XAL$"H[["/L9U2VL2,P>N&S5(UK.B&TG>L+==2R_ALMD(2:NX?)/R*I8"B@+%T7I
MBZBQ6QZOQV$Y>;+V2F$+@"Z?BF5/>! (68A]=U'!!AL:L$.,;70RT-_X]GN<
M!FI+L5^@#1^%\-!GE%3/=_,J'!AB(L<*9.92KD%R9U'"@KQR#HL'40+SK6JS
MPD*H;">0
MJ!]#U']A0M([ZR7]4]1::&&\[,H ^^ +!]$$WA<"-\P-\'SQAUD"#CV6L[Z_
MBV:^JW6-[H?YRN/]TCSB 9A#(1!,\C \ );B*F0/S7F)%\2]:OUAE*&S(A,>/0G\PH2.?
MM'Y]T7[EDHNBN(XL<,#804%^-!
MZA3T8X5MD3Y+JT). ']R60*$ AT*SXI]H8EEGZ]\T>>#@UU=5E3C)0FXY<*<
MAN7Y/?,>9.6R>-ZBU'?Y!UE]6?90\GYBJ!'AR5F<^PO1O;""@&KC+!@C#5B)
M0J7ETD77,-I;7ZXS56Y #?IP35G/S'4A< +J2*'>-YE2
M;VOG,I4+);WZF+FZ9NG*KS#,8F>%]9'\*.4+D67+NTGN\<8\+:MIL0DG2'19
M,@]?7N7*DGF_9[+ .I\G/@YUIIAS3I2JU/RNU> J F5;!MY^A:W#?9;_[A)D
MNZP%&2C(!L%V2C(1D$V
M"K)1D(T\;PJR49"-@FP7)>H49*,@&P79*,A&0;:=@F)+ ;5(X#5R[PO\"SL_
M_/4UA6N^3AA(W0 I!8[JSH"*[8%I7]\8W=N;3MNVAMWKWF@T[/8LRQZ9=J]W
M>V: BK=1 (I%<#+R4Y)-IV@S"0U4D!6>B;23FOW%EQGH:+@QI_8\ZK3"!_N,
M[3B(HX3.>! Z8[_5=7H*H1F[:J 9[0,! AN-CGCDT3<$'K%V]13*:BG/$*ON
M4R9,+MB'%MO[ZJZR05,?=:3"Z-"DU4'%1B0(2+@U&Q)TQ49<1^E:
M:."[[8V:>528@=H4A9FZX;3U7E]=/[QSKW@G.(JJ2E+/4L#F30ZLZ@EU+B)V
M\: 2/\4,,R).:9^>LP#599FKWHIHQSECN0"!T&V#\/V.Y20U?E/YI_"1R%I[
MC4;O'80'4]=;]RTB+;BD0? J'VK)0Y>T<9VG\)&K1*[2'B?B\9C[Y"SE^U>W
MI\PBI#V*?*@S%Q>*+=!ATR&'3=7T!7P36D\II?.WB62EE=/8VDAJO]_3C>[Q
MT LWDK@*;G\;S,\^N\:F@T+]78)4V\,[SM#^S>Z*;;']K70W/0:YO7
MH[YC7+=ONJ/!F0&<7L\Y7&2!7\O:\[%6)NZK_+)-PKM01)T7BLCL%BG2I;DN
MJZ[.BR3J*_&-2GJ(RW_P4QB"NX%"(YZXL3^OBK@N*@T/ILIQR@!N0B\:3B+?
MY=K_@SG!BQ-=^QBZ+5D:EB9:DMTGON>S&(M6WK];W/!.U_*D_W=Y0M8FG'E_9BQ&E -9$A3,4-#3E.G:3SR*'WRFC2,WP](M
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ML )BEYDBR^9EV7F90-2$P0_)6)9L"H"6!5!!4:4HZT765#RWM$&"
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M($$! O$ ._@X+-3'C08'
MFI=8IF\3G+D3GR-"D"C'326?S\D:W?\NZT-5Z=B&F%[56*/'VV66-'$6LLS#
MTZ>=-A_8;@JT&2G(^,Q8%NJ+"GPL"Q U F*OD?(58"DT>*HS$7M.3#T%[82[UONO-\,/
M.?I3N7IZ,:EYI;340/N10Y9G\_D^E^4*=K.5^QZ-1HX &C?#7W\I_?KSST,D
M2!07) "ZP@A1.;GHM<9B7J@8L@0'=P_&U=./Y3=]S,U0N&PH*D/@H:G76KKF
MI^G]__M14.U+=,_C5/L*9MX4%D[7?FF-6OD@O>_OOV?EVWZ=&UY@D \7']]]
M^+"\0PFL MC\T8A5L@%V>]\I>CFZ)Y@16TTT1>O>\M0"_,EPV>!*Q$5"L(KU,RZYP_DBGT1MA%JM%L,<9G&
MU?^GO5_Z[<-<,! 8+.=E)4R["KFSL1QR+RTP]@,8ZIS*8"?B/*486KD8MIH2
M3;TKJ;,&(J((=P*QV8H="4,70"L!S?K(.O.?:1F!I\E0,Y7?:IQW#N# WGSE!#9/1S'NWJZ#GD
MYAK'3WIXTJX6L-,AH+7A^&UA<;/P;W1- ,,97Y_&#"E[$MB=F$_O#JE.^Y
MBV/+GRB,7_;P@!Y[RG5E!J79TVW'T/NFHT9A)>*@>"7TB=-6\@*[U]>=[FJ3
M]P,'NX*FM>P$OV")C^$\MJB7EUQBLKK9-=6,;BWE%TN]>5G+'-LH"V??$Z0\
M?AB("Y:-X87_+@ /V1R27_C)$GLR#^C-;8T")':SDIR#U1?0C(M0Z3RT5]X+
M+GQ3_YB?%/TJ3XH^YR=%%1'E:!N]:>@E<.TB,KHX_F+AQC.R]R*[X>.OGTNY
M#L6/[SXHTY8]O6U@YII1Y:98#B8H>4_?5C]F4"!"UL69YQ-6^7^5F)*O/"L@W=J'+4\WXF0K!SBW#Y
MX&=NWB&*ON@5PKUD =D/*DTDFB :][?BX%R-//0[NNFHBD<('&:/XVF\#/#E
M:@$_8)A3GO 5*6'RL%%=^/LO/;UC*(ISX1CG*BCO"J1PI$#T_FI-PSZ/NG C
MZ!/(R\]1DFB_ N>)/&12(YN2&6.F9'N'GWF2!+;!0E3L+@N3F6=(+),@*!'T]\
MA3>P",0L,,T7,.WY%RO6?4O;:O(2C3_1O$@$/3$#M' JT*( !R5$JQ THW@(
M_KQ(T<(^7S$O0Z4_B6.$A2<#3J%_5=QYX5+UA2]W^6I*T[YAWO9)NHN2T>9\
MX[SO6P?6OW3/NZV^W?M-L#:S2X'3EF^[PJ+0KB
MR12J@G(-$9.EP?-B\$($?!&^*=I(%$T'"'O_$.Q]I]/J=>VNI1!]WU&"ON^<
M%OZ^UVCL_B;-G9#_#P0W;Q.X^6\HL
MW>XH,Q/JLMY5;_BTKY^U1%@=ZO] 'OZ6AZ+1=):)S#Q17A"-4RR-J$*0JD.G
M/[:$M?5>M_H&@G7A$/(^&[!+G9-P61T2+O*,MJ/?B$^C,$GS(CZ^5:K%I1B"
M?=WH*9.DNBPXN4;UV70:)Q&.WC')-2+7:#O"_H)(?2&/7V3"D?GV>IV/V:_^
MV*XN+$*^40.VJ?,1KJ[>L5;!%DBXR#=:']I#SRB3T%<20?RJ$[4WJ%,7CB'GJD:[UOE)U X9F211%3MGC>_P>A>E+"!S\77L MU:
M \Y%]B(Y8^2,'2Y=EFZKBZ^?O71=NCX(-M1WO?>
MM/2>?33K<96+=B40]3B_L&WM_"3.1,0NDCB5$D?>W&Z@$]A.8Y?SMAU8<$T'
M8*75/'4AK+J"G8-[5*N7Y J"5);>Z:Y"'1^=9G5A'_*I:UIZ2-J,M-G;VLS4
M;8NT614QC.\%<-2ZZX\VL->0M[$NMDU=GX)?=&@L0*QG 9/=M&,N&F;#
MCWY2NEQT#0OY$X^U'*E6@,3>9LEJ-=H>/)5;8+W.&DSDO68^6O#76ZQA'VE5
M^V;UJ^IE?-Y'F,\[GPOLX1Q>5I*R8BSL9\ K%<@V%W 6K<">=T%
MVO7&LOIV9V!T!P/'=MHCIS>P!^;(,7K=0;?7<2J'=EVR=:RJ;1V"1R5X5()'
MO:"Y$SPJ(57N1T""1R6FJQ'3$3PJP:/6&R>.T 4)'I7.*)NTWY("(P6VKP(C
M>%1*K59"/X)')7A4E1L^[>MG+1$$CTH>_K:$)7A4@DL[0NAZ,!KTNL(W9.3-@L[LR:)DF
M@;]BC,0D K<.3$WX*.B=:/?/VL.H&_;8XZ2!$)>;8D4:_A;%L]
MDB@JRSI-618EN5"2RX$*S-$[W8H2E2\QR87\_[-(V6L$,'PS5%U#^@UT]5ZG
M(LB*70C:",93: #NFPEX0&Y?.47PJSOA7A;PS^.!Z\89]W[VV;T?^*G/=\\(
M''7,7K?G7!O]FY%M=&\&W?YP-&CWS>MAQ^BVK3/+",PI5O2XE1C840HW:&X6
MQ]CV-%A0DUJ@5I0V1RU0U]].+5 I:Z[>]F[-$D)JE?-!+5")Z8[.=-0"57EE
M,GN.P0B1AA>%X2NENMB-6B_R!9CCX';UCJHMS-IIK*,99
MTQ@G*3!28*\HL)ZC[JBYT5RC,/YXD9E31>3NB<4Q"]-G&$I"'5'%?5V+6IR0
M4TU-?XK[^I8RH_EE[(5*1.S0EY5U1>
MHDZBS)XZP_!")(K*2]1D[%7#=U2'HII\9U&'XNAMHR+;@
M]["X91A-9UDJ0"X^CV]8' );)[_R^.N$Q3L5I_1O;<.QV_VNX]S:W8XQL,QN
MI^-8U\ZH;3B#X8F*4TJ\43E\=8JU0%G\#/YB=:AMC4::1Y/.7Q
M% 8NZE.*A=% (KB;%F4KN"(L?)9;BV.9O1\3;1:E,&J?!<'SXK9DOJ M;1D]
M>_&+]L1C>$&^X-H85EPB8K/ Q79G.4BV>";\GN"J)UJ4I4D*MCL^R\LX#AUN
M\F.PYU/_ZL6X7Q6'?1
MEUC^2^9P)F!> A6CZ10L1F'?JF*O@P]-3ILT;725(4K69-5?5[(%W5ER34A3MHIU(K75H6^CM5'9SO-F69EFX;5'EP
MK(W*:+HL'1[ZB#(Z?#F"U%7<%AC*)CE?6'-B\OOV:)[PY"
M;R2#]+O#AHV,=K=K=4D'06
M1X^^AXE-6LSA&:X?^$N=1L-LRN$%42Q2GV""T=0/Q6=Q!@2/GY^\P$/O<67E
ME?D!#+8Y#:(DT68P!W$:H[$4K)K[3 X )E+VP2=1 *(K??.F-C5MO2K"A,YV
M[/,A12U-VZ?%-VLTO%JS)D]G:]34]+"3M-6FIAIU+[U,O+9&=8TDW$#BPSKP
M(>$('L"RZZGZJ7#D7@>/WI>'CTC5)@A_;8AUOEJ3.(Y.RHK[/A51IBUB2T>+
M3Q_Q@*W!)2I-.G5\;^(!_O&:/ZT*7(-8Z /Y$D Y$Z>7/_7APEK1SCB.'(G]R@1$/J.>U<,ILH>^-R-7*TFO5I0
M5R0_[,.;9X>!:W7TO@VNDD%0N.3K$#3TO)#-UMNFH[?[RO UST4L*&]Y$V5'
MJY@*2;FN5"]Z$L!?\8MZ 5WDM;W\=D,5P;[+GF2S5Y9I)<5M\9C>+)52(88"
MC]E1CUX@,N\<0L.JWGFHBP!4O>.2]T0B1B)&=7I'+Q/A*I+ 2J#U%>4--
M\#+?+CFZA,HB\E%))&OCX9)(5NH?-WWK_;1?>=G5:J7:T1AV+XG?HM1US:OJ
MLDJ- [Q51\L*SOZ-5M>I#T%W2@EH!KLJRURJD1*NG0E%2I24Z"D3J%K&$6U4
M4J);V;;; 5ELC /J&0Z_#C$WNHX9(]1_;H6:EO%&=*.
M6-Q/+\-D:^)C+,$G/&M/419XV@2NA'\\&,-:I.X"RQL] 'A0S&=1C&_RLA@?
M=B" Q)R"1\&/F+_M=?B(UU!<=L)9V0#5,IT%T3/G7WG\Z+N\> SW$/^%AXE8
MU$$ #\BA8+YP-WH(80(>O-6/X+HD378!<[$ZG:'9,ZYO3,.Q!YWNM348=>SK
M@=$QN^V1.3@S,)=_<0&T(DDFA>GJ'@F,?NJ"SFCSS,%':/K@_Y:B?QRC5BLS&HU1TI
MG7V?V4[U;3L:P3)X'Z7CD_:J 2N2]JIE54,C>.=0-7;I)0]?>,)%.$EV!7CD
M032;@M]!WJEZ[_3\ZJ!-ZC!(\D#R,)<'D@:*&6W74IH%V*L']MPIB__@V'.'
M'*\:J9[SJ8.VNM6WVZZ+5%%,@T2KB=O]V0O6I7O9/_&0QRP0&S[SIG[H)VG,
M, &:_(H3:*#3Y@Q5T(_AJJ\C7EZI_#%,6/O@PU$&2\#09A-Y/4>0]^4&P7.F^11&Z?6WUS/9M
MWQK:([LS,@>FT>_?CFS+:AM#J]T]<1$Z?J&26883H!R,V0]SO(8X?O81?6$*
M["^2TN$O$*+_B#)G?TYHC0E*BWCD0TYK;1S%1RQ*5_(63>#$S4OK59:F;['X
M2QMB\TO1';O5;ZLL1>\H*47OG[:>NE?C>NKS.R@9O*:N*NE05@']:N\*4%K.
M!E)>LX"%+D*/:B/N\ND]CQ?4S7LZT[)N7?5*>7
MEF7(:;K^*;8_=*;VV>S.+J/V?==1UA1@==FK4R6U0&%4N[D'F_9TFZ8^6+LA/R\\F):SL5!?IV(%I=&.[4VV'3!;9D
MC;\1.SJB!5X7XB@SM!MF3]L6]:(]2$]0@MN)8D0[P'WOQH![$N^8\:/SVIB*
MXRD*2%) LED!R0NLTK$,W334.27D=)QY#.Z$88+&R9:MSMNOR_(?7WXN;RNK
MQING!$9*8*S6CN@>LQUJHQGO0D,:>:Z7K3C-KPG1C5T=SMJ0:N^$V1<3+(^P
M>>V,[B9< W63).N22.W;3WL[S;VA@Z>YT]QK/_>&>$.;'Y "99KT!3*KO\U*?
M])ES32$@'BM\&&W78TG2;F?0\ZI6K/C34B!C6V_WJ$.4P172Q,*1!1G!Q))4D.%$AA/) QE.9#B12)#A
MI-IPHK3-VB#R').P3=!&M2'6^:IQXCCB..(XXCCB..(XXCCB..*X.A&..&X?
MPEU\(>\P2V"0/)85"7X4)A-_EIPR3%87REPF=I#>ZQ!T$ 6#E6[;I 4:I@7>
M]_K*NONM,GJ#5G]K0%%2$:0B+DI%]#O*$+OKLHYD)I .(!VPD[/0=939"759
M2=("I 5("^SD++2I^P Y"Z0B2$5L=!9LD\R$Y7E2!Y+-,#^//(AFW--2[DY"
MF.K#\P[<R1[JW:C8RJ+.9[]
MSG;Q6="?U\.U5R)DIX4XK,"*U*VNNN#C&]2I"\-4;4O2MG7!$O4>1,JHJ./3
M9O)T?Y$X56@1F@K#BB11)%&7+E%@$9H==?$,L@A)
MX$C@7K4(U07N+V3_(FS 34TCHY0%K_=RK(;7J+GS S5W5FK7V[KA'*\3>;,9
MKVI_H$;:LW9V"RE)4I(G<]5,4[>[G?I0="25H=O=U3!L)$2I*4)"G)6O J*4F5WK@!WKA1'XJ2
M-TXZM-DZM"Y\UPPU61M-"#ZU8]; 7*P+^QQJ$>YVWEV;G)*); !H&?"+#VA&..(XXCCBN$82K#;&(XXCCB..(XXCCZD,XXKCC
M^+3+5&H\6.!/4>0]^4%PRN!276AQD>V,+$/O]I7EE-5E*?$^ K!I5HRY+KQS
MD6I LH!CF98R'JC+>I(N(%U NH!, E(#I 9(#>RD!DQ#6:^XNBPEJ0%2 Z0&
MR#,@74"Z@'0!F00*U$#I$.'[%'/ UEZ_YN^_?I\E5P^,S7[XZDZXEP7\\_CC
M/'UL(++'!J%7Q.CO\-EW0(CK('+_^/M__]=?U]W^R,,TBI^'61S#7\OW )%#
MI.07/O[;N]N199C=?YC_OAN]TWP/OF!N>M4=W;;-4;:)]XD_:EVC*-JN?TNV!'_*K/,G1M(SOEN3!
M1.X72^^'H,[2']JJTR +>ODP;B!.XBQ.-M:+*D%XT7),#/Y=>$43QEP3+9\)KY@P5+:BX/@OR:O[TSWHG/(&]N
M\7GWU9RR^,$/Y2!9ED;%%W+G$M\\^5XZ^<'IM'I=NVO9WQ6EEB#K 9LE_(?B
MCQ]?RO=B].5CN;F.<-8>,VY_L)E&W.73>QX7?+>U+4[%&QM8] M[TJ8,ELUG@3+L^GU(5'N0"748)>< 0=+5
M[;XZ5,^ZKWW5D;(:*9O:[8?'[email protected]!F!<5W>LZAN'-X)K%,;X]DH4
M;KJ9]*\H_N/*#Z]F<>3RI))FX@>?!AQ;O-IZOZW,\:O+0E>]T].&?M8289IM
MD@ARO;]I#%'F5;"EO18B4$OJDD@?N:/=H;8K)7:V/@#9W=[L<
MX>SI=KLBM-H+%,Y#73&CZ?NF;,+J+S(7JF$M5=C;30@/' ]_^VR"2V9/-_I'
M;*#:!#8BY_FTT?!*%%A=F*M6.JI.:JC34Q9S>),T=6$&A4:4BIS5UY).UR>J
M?IVPF%^SA'O#:#KC8<)2/PJ_IG##YQG^F0S=4U@'MY;1,WK7_='P
MQAX,1WW'Z9CPA6,..K>&TC^;:_?ZCH]A=FW
M?279MUWKP!S01B? 'GJ[T>C1[[CTE+][XEC<&:92?LI$(B5LD[F]04Z:>KZC
M%-X5OON7^ +L) 8D80]\6]/FJ(/DWWCL^@G79K'OOCY$DHR*PA='D8;M7=CC
M2X86\RGS0QA]+64$'=$8O*J,!1J\:KJ'ZTWY .7[/F=IDK(01Z>Q5"MJ'19R
MMFO1PU&/<6L3$7,ZCMXQU+4)/O?S1#KL;T)N>EVXK1;IY[71-:;9,DG3D*8Y
MM>%<'\)5FTC4ZFG/P'Q;QRHNO6SAIYB!&^"=K#?-89D^W.AU5M*C+$E>M
ME$GWGG'!@MUJ*RN0(X&X&($@^E!\:W=2WN1!=67FR'G&K][W==M2E]'U%HT6
M?-*@7, /M62A<])B.YV>GTVEBMDZ0G2]+D)$X9R:6E!$. KG;$AUC+$O3Z&E&.J0ZC:DE"7;4U=NGXZZUB1U7((VX($@F)%%"LZ>BZ4J*E9280Z
M8O7M64::3-VP;;UM5(3-L L=Z\)WY!,WP'0ZHWB3T3((19>$BP).QTD-;AF4
M/[0+P?[)13\@,,2TO"1&%/,6%IGR]@]U K"HP(/N.[K35W? <"E@#>1%'I\^
M=>&=R^PS2*$V4@(U4 +G1!^EB#_[HO>LPP**Q@@$G/*?_4?NO6Q_>9NE6X,9RN;0S[-^:M=6:H
M0(,$H0U6F&.?1VT;?-SGV;H&%K:/#9C RGYXB/D#_*F-Q:IKK+3L8'^+=9_#
M%_ES3M&88!4!?Y3D33N3_2&#RNOD%,MTX1!"CMWJMU5""'640 CUJ8GEY?CB
M-PM%L48OO"'P>^*35$#!)AD*:L_DG*9S(.YZVOLY*L5)TT9J'^RF0NDEUM%-
ML_I67'59^T-]W4.WNG/0-+U]]K/S2[K2'749Z759W>.+QP7MT+MTP;G $W>E
M D4;T05L1+MD1]%&1!L1;41";JQ=<)$N/U9#HD"MJ0AG)MW;8J*EC=A:"-8+SCJDQ*
MH5FQ*^IQ(/4QZF7_@,;PH?1G[B!E$"C]DE@\CL
M7YNCX< :="S#[O>_'2B3:*G
M?"9X(=S[Z/.G1"1,W6<)4#Y)=+C@#^!%;""/>1S#I6F$"^5C.E8H
M!LN"5H,8<#SOV2<7%M88%@!>EV@A%\O&PPQ(%HNG'ZW/GUBUMKWNG;74IBPYRA)V.OU3YJP
MYS2Z:5Z3YD[^Q8'^1>\$G=-JU2?M3NPXO\@=YP9WG$T^[WPC(N>W)L[O<1J9
M;1^H.34OJRP1)CXD/CR #[?.82!HI@TLN^2LGE*J:W_H32G@RP>W>M>H'M>\
M+HN_R5H[&D]<\ 9)JN;"58VMMW=*E[EL57/IE94?RV'T?>SP-[,63QNLJ (Y
MTK$K0HT\WYP#\FQ)HO[_]LZM-VT8BN/O^Q16I;U%Y%(G 3I5@E9(>]FF?0,3
M#%@-=I:$4K[]?')IF;BTZ9+("7Y! FSC5-CZ@F]^B=
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MSZUC6+BV?\U5NT?5ZTNH#XJIXJCTXLDLG
M/M@S/%\_RE[O;'L ;ZL27#K3G,PTKH%Q0[?&]3C3U"%'_+YL\#\JP](/;"E=
MSM-)SM+*.K_DNC)@-*GTJ')WZEDN'DXG#U/7LIW1X\C#OC-Z\%UO-G/MG@D-
M;S<;$N^!%3WP('IS(2I]>/'2*T7/QA2MR3-%,2,W:L
M._@BHY5KL;1@61V2[8.?L
ME,8%X7:1^XW)]Q/.M[)$GJLN<^8G$MV',A?D.CFTGL9+(5(N0)Z=/Z&7[*-8
M@&GK-(W&IKG;[08O\S@U87\@YF%&F8+&-A*'0PIPMSN/6TI
MMI+HQI:RDDS(??J39#NVL:)83ABH.F_-A5B<=3K+Y?((
M$9]Z0H;4XH(5%H)O %ZXC5 G5DH[9LA1CVUG3;B8H$J@&V,(8)%Y!X:\:>2P-9
M#G3KWNGI:4=?73?EOJFAA.UU_KB['6L=MC[_!(#6*0X7E E 2KJ80C[1E!%O
MSR!<*-F>M+N]]J#7 K$EW%(/"FUW"8T>A)&P@P+!TS/M#.I(\M "'3=V& T0
MWQ,_&FM7AI2*]\60QJK#D,V*-K!3)E&_VBE=6YUJ]_J[<9%-,C8<(_0(5,FC.@&F (?)$^+"V4!R9,GQSN9!(/9T\.VY,))1
MQ8?M#* >&QQ[SDRD-.I@=P;$@KESD!+I(PL/D! J-) ZE9Y<+#"9TOB,/*="
M]ED:MQ_0%.C,]"R)FO;\M;-@=(&8P#*3RN7E&F#.T/2\-=,S1^?W?WHP.)+Y
M;MJ@!%_,)W1\DB1>%.@AW&8LI@C*8Y^WN!1U@))Q_^ A^6CJ.B1)@@E^MR,*
MX,1U1)($!>]R, N&7 _%
M'+$K'='$+883'& UCA90=-\>AK9%LN:M.F3*5\I99G2?^[W^2:_;!6WP!7,O
MH#QB2/Y(L$$*#B#Q@88'"3[(=?"I\Q+V18<11_X]^:R/7XHT(4Z:6 A?S/[*
M=,4I9B1+3J8:VX<>OR !\S)M28WT]'N1%5U^96)*O+
ME2E:V>5FD%IQ&A30*^@&B6%KY QR=T31' ;J?WD1"RO).]AI&X2V2BYD17&F:?>K:I;^M
M9C!P-8.T=^6!X_Y!P@#0'("4A8.9%-7FFM%NA[+FL(.>(8>U*[>!*:L4@*^R
M>25?3@/LJYM$ES!0-_?&%"2H
M((8]Z"LGXQ%42[$Y$E@RO$_E%8&W:K)71Y/@YT(OC9^):P'*Q<05Y/.;@"YW
MG9%F3+L^!Y5G9H:N J3"![J#@R8SJ=\O$-,\QH$ME,.=2P*96MY2OD_U;NG(
MKO-^39UGG28A-MJ>F*J%_FJ@9G]6*]
MKJ&RL4%1C2]M&>6=*S*9+G_CF,S&>$;P5"Y4B/A&Z(0C]J0*"$.RB&I4O%Z7
MC:WF4JJ';C:70@EL0RO-&AJ+>'Z
M(=@9V;ZFZ!NB<15=-CXT;]-#%AXO0LH$_F\<^(J-)'&*LW=#J,O 5GLYJ6DO
M^=B<8\G05N&L00_&9=/M-19+,4^;T
M3&6>R%Y0_F"T]35U,P5=P]1+M/9ZWP=#<,^!--W272-PF=1>@_M@"+8%\3>D0LE*=O*9FI0Q/87M3_*AQM-:%2"623
M"1F*9_I9)QX_;9"[32(;:#;;0C*G+RI.XU]F](-1EDS@20H>I*,9-;$[3!1T.")G'T(Z1@H=XZUE! 8S5=%3D71P3V<1"I
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MM#7#.39MC%-#RM\O(4=Z+P5$N*L3-M/;R^#')G^K@-IJL^!X?X44
MJO&ZJ+_ KXAG+VX>F]SG!ETU?I%OEGBV!G] 7##LJ=^EMJY64WO&J:"4;
MFS7YA9Q**KM?J)/\PI->%XO5Z]C%ADZVFD.I.NQB#B#I%:3='HQ@+2_GA-N&
M8K\Y=FS*K3>IL8DI=!2&D*WD3,EVALA5EIQK4Q7Q[/5$8XH= ^OYE=O$(E^K
M2L#_/[7WJ?/B\SW)B<)'?O0G?I(O>0(XD23ZPB!2/OS$:+_$63W!#W.)5.S^>.2%AZ!U;NZKP6P5\@Z HK/A)3(&,)6+R4T
MB3?ME.)!$RQ,0VSK)X5WEE8>Z9T):<-D4N$C$HBIUWG'="J6D*'B
MW+&V>+.ILG$XR?;+(L@F]@UEZ<=,("/WD?3G?T68:Q^FMIW$?K*_Y,N![P7K
MK;V),MFAM NF-[F[EGYOJIY_OT%HA)@JO\&9>OS.?XH_VQJ/W96HUB#E"!-T!'WF3?&TKBCV2*;# 56[\S!YL-EB$/)[=(%@%2!W(4Q1TWO"!2
MGTO/G[R?WF BNY>G5:Q5(U?YHTH.>4XVKP+^%J*L,1>D'Z)7.E\?<@91<"O\
MH^),L+9X;\'J6N\U>I%0
M[SX;4D6H91>ZQ4_(+^W%4M[.1^6F8_R\%F5-XO?I9(=$2A*JPFC\?TB2930?
MP97BM[S@NR@O^%+9[ WMO5K.4*W783"*)@'V[J=3I.:&?IJ:CVD@#2(])R41
MQX[K9\Q%VF@NV\C\/Q/7GM!V<&RZMQT=6^5Q9.DO
M$/'"9Y'67T2*Y$R17D(YB[4,ZA"^R;1Q7RKK"?^ 9JHH7LPZC%?>.NL>02Q-
M[I^8^.E"YT6B>#_5>]@G:>!(AE<F0:E._MU1R+8W8]F0.H#_9Q#F./V+Q
MC<@9MU3U'.6G=/3+9.!$\UZ]OWHE>!VP]+Y#25B[*BZ\*K1[;S,U':%R>:7;
M*Q=,)G@SW?!RE35)M'JQA,Q/([^,^)&84Z8*G;%SSI9])TXF6M*9E10
M6XOMC3I_Q9)+18E/+(.>K+(F^4'KLZ.(>7-YY1:'.*[]W\%G%2%4PA^_(9WL
MW) ;?4'>/[SK=S>Y-P0I5:6[I9#<0$^O>8J!:N/5][8T?ES2QSF-U&T:^7>#
MIP(A,I(">S&>KV\#6H0.Q^/YZ<4";+_^X@<3WY;@W1R'\_-/_ %!+ P04
M    " #B.J1(%XAL:\@@  !;3 $ $P   &=I+3(P,38P-3 S7V-A;"YX;6SM
M?5EW&SF2[GO_"E_/,]K8ESY=/4=K'Y];5?:Q[*F9ISQ8I;Q%D9HDZ65^_0U0
MDK682B:3F2"KIE]LBDP @0]?(B* 0.#O__[U>O+J__^,O?_P]"_WG\X>=7IS._O([3Q:N3)MI%#*^^
MU(NK5[^%./_]56IFUZ]^FS6_UY\M0K>%7JT^3.KI[\[.XZNO\_IO_\)63Q-CS)O5K]\?G=?K'H1JR9O__.7G
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M)+Y+Y\O%LHF_U-/Z>GG]PJ^MK*1NO'!4QS<37L
M[]*)G5^=3V9?^J#?6D\1Z=_=Q&8U9=\2^/JFB5=0 .:8GV?S7;O4K?(A^GD:
MW:)=V,=/#-5BITEOS8.#M'_G*@"R9S#M++Z]G:99<]W!VNA2<@@)SVW=_(>=
M+.,O,(G#E+XB1;MHK45&DVD[_;Q5%:/)_$A?KOOYTQP4T45].:T33(C3Q:?I
MS,UC\SDKI;?3FV5'A5VDZ=$PZJ+!.Q0<0KY_SF;A2SV9W/LD;\%0GE[6T,S1
M?+Y1(PV)!E\ESNSJ&D/KM%#[&C_;K)M'6/#AP
M^YU&_^7GAY'F,ZBK6;-Q#[email protected]&-EYX?6)HNY'WQ\2%D^<4VOT,/H=J+
MZ)=-AX7DMA)C2;2=+M^FAK$D_D%]9N=SGEV9[X;OQY2B '*?H;W\X_FLN;"3.!8TVS;RPTAW:]QD9<^WLOSNYG8OUP/AZL6W
MX3K:7O%X_>LTG74H.8B$R^MKVWP#1!ZVSA[IY$Z:?+LZUDD-D[5?3E9=_!F>
MN7LR"SA\0.5M^_'K FJ+H:0$:PGV79 L!@@RF?DG8-\UO@IR37;N5B&IRSFZ
MM/;F#0R#>!,GB_G]-WE@!,+D+ESVW^Z^KNYD?"3,O9AK$)I8%R<_O09)JJW*
M5PY'2CWU2,B4$ N*($]E0,$)1TW@VMAG2PB3'# \:^Y&8;3NGP'99M\BO!F3
MO-GS2.:[46KI^L:R50R><>P4$EXHA*'?2 42D0TR1:I+K"^O%JN/MQ78QO_ RJ<1T'=/O)GGUS+7B.I%O+XOG^.Y1Q_;
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M'AT=B^-^.E#^XE5$M01%SFW3%,QZ"K7=CDG"FW"/SDUNVZ7??5 %5/*
MWG]"*8#!$J/7*(9HD.018T6<(6X_ZT^W\FW>R7CR7,5,M-%)BH"-# F1US-T
M@OJUIR$E+*+ ![Q.U&=09L/B44 7Y#0@^26%_W)T\V<[6;VVBQ/;--_@M5V=
M+FH9\D[E*Q\8#]$[))B3*&)K$-4!Y '/CQ//'4[]YOR25.@UCK,R;TQVG?D[E*X2T5(PY9'%CH-%9!5*PEADA+9$)T)(E >\MC8<&<8!
MJP!'\M&->I5990X\WLR*M<]75FH"SK)%T4N-$K4.$1$# 4/ 5&?MUQU3!666
MI(9CP; @E0F/7!V(>S^QMUF]OI],;#4,VHI5RD=P4BU'E LPM:W2B$E+ $HJ
ML;%2"7'(>WP#^ H#PU. !^?U%%#YN?X5K&_?Z1RA&L@\0<$0:]X%$*Q#11
MB!K.G6+<2]%OA$M: #N-\ Y0;+N',$'!Z@ &Y[&:*].(E[-)H#[/!LC
MBV\M?-A4M.*6$9XPV*\R621\H@B[2) -07'%899+FX(=QNGT5MU6
M09W&28=,\@RYY"1,[L[IY$.BQAWP^.\Z1,_7MW>'I\!X'X509VSLY+VMP<0^
ML3?UPDX>"=^VR;6Q<*4#B9YSZ"6#?Z)0(7]R"'MGL//16M?/OBWCS0[,B5$ 
M*[+:N;#U-(;[W%I'WB^OEZN3K*9#S]BC7XWL';O.QYNQGX+>_2Q_MU[:)
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M!;,"=#F],UL^  8G\'_=(=CFQ3*5]UYKXS'27AI$"4U(91=;R:A
MXF@DV!&D$L;BW6T.^6:_3IMSZPM4*6I#HG H4)O YS$:$:/S)ZI]Q$P)V^\0
M8''ML)O1.!0Z>]$#G0C05JS23(&GNPHB
MP< 8%23#1_OU$0A;$>*EHE5@!N,=N)LI0"H1S1Q66I)\_65Q5#+_&
M."QNHY[&W>$R\['/YG:XD;S,&=WU!_/>QZ:>A;=3W^2#V*?Q]O^VMVF+:JJ4
M1'!$QYREEH >$0%%0SC"@BJ'J=68;%*ZXX!QEE+TBW?I[*N_LL#J#S!([Z;K
M^]8"QC;55)QI3QPVR"2!D4@B(B?!$M?*6Z*QLJ1GYJ4R:YOC#?SSG-KC@EI 
M3^6S3B#G^V;VN8;W^OC;IWF.PBQON+,P!X,P!_""PY@\ B^2"(-3-/R0HP#'
M&OH?SSB-#6MAGCV^3^;L:VQ\/<_&4B=BK2U;)>*T2)8@HWQ 0GF/!",:):=#
M,$I&=]"SU1Z8-!2.^U-]W_/][*+ZUE12&2(CB4XA2L#! 1\8(YO]$NRPB$$R
MIM0A'[G?M^H;!M(RO'H(<6NGSL-S59341^TTXARJI))2I(71B$7)P?T5T8A^
M[OU>E=;.@_8C-W;"K,=YO2;Z^BX;_LTDKL"=AKN[O^WMS6Q^L@RYCX^^S'FD
M[V;9?#UX7I8XK>>W,1)K.#%64Y4Y54>G)^98G\E3)L_9$3D_/I;LQ#!LN#1G
M?SSM-12E#@3R;1EY&[;_?^MI/HTOZI;'DS[5Z<]TV\KI?7ZRG7KZ[J
MZ.R4GO%3:B0YEU2K&-VC\/^6
M\]7:ZKMT=_53FU9K+5=)[email protected]*:%^RCYA$11CSREB>+/8<)NY]!769KJY"6
M&QK#,G[8YWH.")[/FM/9TBW2RKVDQ1I03!:T+
M;*+&3O7,455FZZL060:&L,34,FL _>EMG(__]A%H/;<^(_I/6T^S9?=I"F[$
MI/Z?5O=]FVHJ;B2\-_G$/[<,@3):@U+/UTK?3
M>XOM(0UE&YLZ% =X ]AW(I^ZD1HI+B7 2P+"%(S"P%B(8E,"\Q<6%/&?RN09
M")@@(3,F++78@:%>&M8S
M%)+_*?BT+Y0+3%GW2U[OIA$LE'/@=GOYZ5;@_:XQO!!W6X'S;$;>;OIL
M2D*P?845BXE)B0-*!CQA":.%)"8:,964.
M@6YK*JE$ONTNT)P[,/&<&BXA27*T'SA$BC'"M>MWJ+7,)N^^ ]V&@;3$GN_=
M[8@&KBB]/I#X%[O(:;N_O4OK4GEW#?'N4E=%O39"I'S0/(*^
M$)S#)P?&A!.4!ZP2]OTN M]KT-S@'"N :^ECF(^//]Z9$_#KZCSIH^R5CX-Z
MBYZ)_#&%9HKA)3R.:=;$1P$%9U\7C87QJ:>V^?86@%TE
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MXE5&/!RC\SA1%0YXO'<:IY8QWP&?P@-_$9O/X'EN,?:/2E2(BB3_FH/GMF)ISG5U)^[%;-)VG.'E
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M"=L_KE:L5MMA>1/L 8HV\__%0F#>2NF-IZ#76$0X5Z^
MC%(8E@^#XE1B)2].H?N3G/\A7-?3>K[(8'R.FQFQH60E32*&)0+VLV:(@N)#
M$D.?O3?<4 I A$-.&S\L+88'JT0\X).PLK?3A9U>UCE4=E,8?'O!2FH:"8L!
M ><33(U*@@Y.%C%E9"+.:Z,/^1[*89DQ.%8EC,D<%OWK;#I[AD2;3?E"D4IQ
MJ3R+&$4C',*)@>$-ZA&!"2U#2,J$C?>\[]6T/-B]I.$ WP>C;N'JP:LG!2M!
MN);6,\1\CL& W3$J%G(#,^:=E,=@
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M+]'.ETU\4%T;(#7MG[AKV)8YN/::W_^- >WZP(F^3K5WDX7
MGZ8S-X_-*NO2V^G-:#-
M_2+NBA!/'X+"]_4L DF@DSCH*+.ZHM=[\&YQ0A(+E8AE@:A-AW*+=WC-R'R(U[:&46AR:O\Y
M$.6_HFWZH=*U]BI0&QD!R9/B!J4$YJDS+"*9L,)48<+L(9]8&Y(8S],0[P7=
M A[ =AW+_?CX9388#>_JJS SPN9066:40 $<(D1M2LA+@Z,U*"6?*V/8'
M0[S^>!XFU:#YMM7_GC56@E*?A*&(FY"0Y@PCPI-#UD?JL I8]Z1;F6B%PZ);
M3T0/DG#GL^5P.O:^PBH9P:3+P3]4*B1CTL@*;!"X[1AK37 2_6+HRH1 '!3=
M>@)ZF&R#9X=E&SQ;$8<<,DD$RK:CABO8SXLI<4G)8;.L'
M:"O;UF2O7Y571"CN9,^82)#5TFK- $?..
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M?K>_E=GB&YXA@V)5DB+9R9E?Q7"?]&H[BKQ+1UC?\0@Y;SA<]S
M_.CWF,%WZ>(*?OH8FVOX.M]$FC^NJVR/IM7+,<'7*ZWW&(\?PQZMFMKR\^OAEUD:P0>JM!#LZ.CV50NMC@%H=8W)\?'Q^@O69$?STK-\]
MFV6,P%&YM0]T2^05>8;94Z2>Z+%C.Z^WF?,W557!RT0"Q@ZY1#4829$BHD1$
M-&DOO [,V$T^QP'-_4\Z./3\_Z3R"GO-HX\,$4 *9BDP7,%%#2@J2XF('"S,
M?EF>]J,#AB7*$+I@5[B+Z8-.+^BP#52<'XEC34XTEE*)8\'/J#X^/SY7YYB?
MJ[-^/N!^-,0HS-LKW".ZD1MS1?+$2ZXIBC$PYL_%"L.(0/&P5K?84/TV;:">Y1_D*U=N<2>W'B'>NNPK"NQA@:@V2
M>I1R%RS/62\24RIRIC79>6-WS#V\4>C169>-A_(>;- NWH?!R5Y#WRLM>A*NLC$I:QE&RG,(;
M*!.RU')P0*7PT5#.9;];OLHLH.^723W0VRM%;I.0]#,H[LI6E%(GK.+(""J1
MXERC8'.0C_>)*"6"\CTOW]XS8;8;S,X>ONU[@*#GN_RD1S/9M>7-DF
MEFWMD3,Y7=2AGBSS3EY7]W%TH
M1<."V+3]5!22'WJ0%U7\]H"LKZ?2-KEDH@*BYPDECK$4C*(8!X0=PSPD3PP
MW^_04!E%OW?>C0+QB ;!6M4TLD7POLEYCA??KMX09S
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MJJS*K*R__^?/F^F;[W$^2[+TMU_@K^"7-W$ZSB9)>O7;+U\OWJH+_$CFUV_^.8EG?[RYS+.;-__,
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M^/*W7ZZ2@!ED@ )<(/;O!SS9+9^>6G/)Z%?I=#=C_A=6OW06DM
ME3FPD3;H-MG-33(OYM%"L"9+YV'-OY0BM4;%C^CZ.\CS \CVNA6V#ACJF
MOYAO)XMI?'[I%_-%'G](TN1F2_K6QCKC
MXR),<_%2[.>79C2[]M/L1Q/T][;3"_7GMW&^G+)7"GQSF\?7H4*88]YGLV-9
MJM=X&WS:^-M\/[$/2[358ZU);TO!5OI?[RH"LBY,._.[L_0RRV]J6!MU:K9!
MH1\E^3]&TT7\(4SB84I?*L5^TO96Z8RFP];[email protected]'Z^6VG[_.PD)TD5RE
MR668$-/YUS3[-HOS[\6B=);>+FHNV+UTW1E&=5;P&A7;H._W+)O\2*;37)3+.HEK<42L=Y>MXS& 5WUBT%_"C$L+:@S>1[61AM4GZ7A8_QE
M]+.*M"T%6^Z_EO1WEV^'FN]AN7=6;P-6CZ,
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M&R*1P$B]D\;);"I)06
M!.4UCK(;--0S_;6&8_/V>N:FSO!LW%PKO,RS\1]ZM/1)W12'1W64:&^=[J@Z
M;.4YK(WNJ+Y?)C['LWF>C(LSNW1R_\>RVMEB:+N7/CC?_OLA!Z-M]M ;
MQ^>W*U_N."A<,K]KC]']#7?'7ZWIK$;-5BAK+Z;PA=3O;Z8;6[&:4I,>3^JB9-BE=-OSV)K[Y%N=-R=S6
M1HLT7H>F\O'B6_QV TA#2O>TM(W>H"!)6(Y"J?>AR+I@05+[DEJE^.9M^6^KZ8O;T:
MC6Z#WD/Z+I[.9^4WQ7)"WP*XO@_P[^NO([V8)6D\"RMTV'#/2N[BLWE\LZ%G
M.OH63W_[)1 0U:D6(0R,%HA"K8$AW!FH/9.04>"H?O\GR
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M#7$*AO&BD0*R9$@)B@>WF+8HHZPC=%Z!V(>R# ]*VOU+>15@4I"XR12/0@V">>N$KA;BT?44 X0EI3
MH3@R@&(*X3U;K-$@/GP)[U_ ;:#1@Y#_67B7TWFE&:5
MMA"7; @F8!.AXA<@U&-0Z,/X7GR;)9-DE-\5T;@UC>]==2(.@0#>0NV-LQP;
MPNT&)*T9[4?( S6^6T*M#Z6X)_#CZ"9\_!)4>#8:+_T-5599=>4(6"@,!PA8
M%A8LYK@B:',F3"T;KG%^O R?:D57:/T)U&1PQOP0M:-WK3C[=%YI&FS*1()S
M0"D"($"CI=2 ,VR:")J\$EOP&*3Z6-B+JS_/HAM5L9&Y6L7_Z[O[,NM$
M7$N>[AE+)Y^FH[08-=6F0 ?=10YR3SF$!%J)F!<605Z"ZH%W@[4Q&^K&4\MA
M.)C^I;"M@#LT:_<%Z^EQ_NBO:<#V1Y[,X[S"&MI=.-+.,2>M$9C)8#@@ ?7F
M("C8$HW3F
M5:SO5LD)]TPS![02<>>5()(HK[A  5)LS,8,5;216=V9/G42,-@=6KUXQ-)U
M]O#U=F,YG&:KK^?Q!.Y1D\JZ$3,6>HX,]LI1++WPRFYV%(#[0>VY.E&.MC$:
M@DVS:\Y=WYLZ7\R+3.A%"OJ/BXKM>NM]11(+@9!6PEOK%2+ H,TFUAB@!N7N
MZ2: ^<28]A>ML79QG>>?DZOK^0.ZJV,W=E:-##0 $B2EEY0):H7?N#V5ITKV
M=%!L_EM'F132=G:?G=63J>+@J"
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M# LL04 + "@E@OC21:Q80Y5F'M2WBN>J8C!HO5?5(P2$/2[5'UO,GI-IM^X0)
M7HKNS]+9/%^^#+69]?>L>SMJ1!(C12B6@$-MB;(4PW5X@"X<+E4I*_I@KRIS
MRY;2D416&D\FZX=[D+$=+)&L;AFY3KS17AR(=_SS.
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M6F05(<4]++99RX#G@S7'CA'47ID?#2Z-A)+*
MBF7X>>'(%LL7\BS8*988P)#7J&2(:M#(S.HX*4B;R_#1B/0NXNK$:UN*1TB0
ML"4PQE/+J0"*:"G* T6KH!CL\GN,@/;*^BA@7HG4A[;DGEK8O0OY<_P]FWY/
MTJO'Y-9(S;:G7N005P=1,IX&4P:+#"6F&]<1(8U2MG6<0:'-A?N(_'H6;B5
MT_?SPA$01%CK,2=*2,BE,WKC Z0*T,$NV%)0_/Y,GW^N/MZN4S_2R@!B.4!(4"\]8EQLEB<"75^O
M%-1;MH\1VW-W5>OH].2J_+(^\_^8I>/5DU<5KLKG%:*P[B'CM*44$>:%0I!L
M&!, ]_1@3*,CEO='!ZRT@DGO!Z$%Q?6#D4+AR"J/N!1:"T9T,$ ]H!M\M'>-
M0D\Z\V9U')5T.!Z]"SAL'&)U4SS"65O,]U4B9K$U"FLK' H[%PL9*_WVV+!F
M:WEGU^N[%79C5'H7>9F9I%AWEG&KD_O4)+658%\CD62.(<$^+2R?EE,2/Y.+XGX?Q23;X7(=S;?24'-1',(J $
M@I):0ZPFSE($2W88:Q9UV-D]^+;$WC%*QPE]DX0HG=ZMKM;6D?/S6E%8J   
MA'C.*4'<6@A+;Q!VE#=RGG1V?[TST1X-3,_12.6IX/J16IWE>?:C.#,"(\6R,I)@:;#?X2]_HKDMGU]?[
MF&NZ@*UGK:JI*!%PP$A#PWZ*$V:0P:9,=/D7O1TG^C]%T$7^(1[-%OKIVV6MG-2]!=SI^-H2=
MI;>+^4S-9O%\]O\6HT(*2]H>2.)]C2N3C=J+N-)0,5V\#0 <=!8ZIZAD!EHC
MPFQ3-2)/#TW5=$XN9T%((Q*RGDCO/J8*]O4%T4 Q$AV+/
M.D&M!Z-G&Z65/O3=E8I'>GR1=5Q;%*5^ )$3QXNLA@X<
M!=(KU(:A158,20F..W55XW%8<";OPS:^V),E\6R43L[GUW'^X*M]EQ(.:""B
M# KLB:2&2HLQ\XZ'3P(*CJ'CO5TOJ9FVJ0619#W U,-P7])Y[_JOHQEUJT;>
MF;!DT19WH"* ^)O]U/C.3W7Q+TB4&FSQ2
M\R*U4#)9IQ$JF=EW7-^@M4@9YZU$4&D,$9 ,.4<+K!4#RF@YK"BL?K0SCH>#2HE\1/
MSM//17Z (E?G\D3]&>'AYS IA%J'GX.TV%T49AQB":9",8N%4-;*=9274\#H
MJA#VP0-;^Q2EI:XBRCD!+" G)52^R P-5 FH +"GE!CU#EE.HDB[SF!.(X"A
M'M%L8-%WFXE\^=Y%Q3G-WGH1D44R&X<=UQ)K1*6B=(.-@#W%N38[K.E=/W8I
M:@O(]F#%M8C;4X8K3P(Z[SL*IA(Q*NR;%* 2_C#N'N=VC3>P9\EJ\/C=PH3\\7\P?YPQ]MY/:=SK71
M@::_?;[=/K0G9*,;RLJ=6,IN/%=/GQH[&9;Y9MU5'_-ON+%,1:0FT\) 9KAX&WI(258CFL=)T#TK)=
M^G]"X1QJ@FRC^4<-FG>0'"",DZMT%4T^OON2C]+9"F U^>_%;'ZS_1KN:0B)
M@G")$\0I2X*LN4% ;01M"!N6#VIX>O\BI#;@16 '"!?Q?#Y]'"/:XDI0W6D$
MI)?:$ @XL  XAH$LMF-&*LT=YHWL_L[NR YO6 Q.0OUZ[KI]3NCW+)O\2*93
MM8ZB.$OGH_0J"5VN'*RGZK>O5Z:JZ+CWFZJ;+)\G_UIIV>-"H7+9SF#(=;-Y
M:_[_'D*8&U_,SFHTNM"4 X"#8@<-[3J>M^
M'VZKPGSZM$%74 W6V[J;37WW8?3?65[+]UJ_EU"*YZ:4ITAV,?V8#?Q]Z37RM]^8$MAG!=GUDIQ"H)EJ+WW')50
M8&W4<+VA7W<3YYWBU%9Y=)[?5\=Y[
M:D5$4<"1%$83H)4 E)3Y8PSSSO3UX%?-\X2NY/'R=9M/LZNYS]X)8*?5E-_S
M!P^0'Z8CRZJ1)(!"3*F7 BK-I?5^L^.$$ WKZF'; JRO'TW .JUFJ/%X<5-X
M:QZ?&#?3E1V-10(0BQRR&CBN*;#6&;'9!'#D7HIUTK'VM /?R=>DQFM15+R$
M@@R2'(>U'!))G-A@BB5KM!$^A;72L9X<#E4/.E$Z<,YN;D=)'C3X7IE77RUS
M887IL8;)C*E59+8_*
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MT4\DG"]>,\*04XXMA4:BL%I(8@A@Q).JT*WA0ED[DAE,^M6978'?/4,^V"BZ^\O?FX__-XGS0._UW?O"UUD_
M>!B)=^+Z@U]AS:HP"B.D-6D"YGN(,FF4QZ4]5=JZZM(WBGU:I!A=&]Y)TZ70Z
MM+K;M<0#5L;"[*D5&8@A"-@YXJ6@QGN <,FB;OJ(2&<^@FZDMS]#_Q%PG4@C
M4".-0.6#RXX !Z0W6%&AH;80V9)%!L&PCH-/IQ'-X.I!(Y9185]";[/SR^+1
MG>(QFO]9+"]YECO\"I.X9@N1)P9I :@($S$CQ%BPV<-0 )NEWCY<4UZ83=P-
MN,/0JTK;I78;D23*<&Z@%TYS$#XXM!FJ8<]L!VL,MR[?P_7G* C_=)HT- OX
MY2A0[XKS]>)+OIRC']!::>OLKA09[[email protected]!L*/WUIQW=E@!G!W(+>L(
MJ5Y4X??L>YRGR^?VKN)TO'18('%8<
M51]JT@EN?5P_R_+;+!_-XP,U96^]*.!F&5'.0 $-!6&0R'('P QOELJRLPB*
M[M6C3;!ZT(FG'M$'J^Q#7^\>[:C90D24%492I:66F-+ O44EZQ#:GGQ765Y$P333MWIM1]XZ+PCR@!"F
M41C:W)=#FW%@&AWZ=7_$,U1-[ 3T@>IH$5O7E8X^:CORF"$GD)<&8LTT4=2Y
M$B[)9:-4N=TGBGMQ.GH,Z"?5T4;*%R$F@'%<,R6,4L$T54R6#"H.&^WXR)]5
MJPY$\Z3JLDK[V-L-7"(42L)QY*H2ACM&07&]?H-C#]LRI/,U!/JD/W
M+RHV4J/[ZA%S7&!&G8404FX4TH!LX#2BT33$_JR:U!C7SH+UMT75=AN=_3%>
M7GOX%.J.+^%6=GWLT3
M0#[4J.(CH=!WVQNHB+OHL-<(_FOG4
M\!B,5/HP?K?26BO!8U75B "''1,6>6V1 LY140K &Z7]8$,Z!J$!M;3R:+1?
MN8H-+=;C56I6[QKE;FZGV5T<7\RS\1_GMWO?+ZRL$P$G(%>,*B"58R"@!G7)
M'B>^KWBA>GOS]H25=8-/#^+_9W$S.)U7BOQ1N6)X2(FHU(@1"AU&Q(J2#0R;
MY3WHS ?6F9B/P:0'T7Z.9_,\&<_CR5(/*T6\M7RDN2!8<,"#]2<"@R(H;LD6
M<618&;0Z$W4;V/0O\J\!^=GGBZ^'BOYQO2BP1IDC2!MDM-)6>[84>CYM.@7EGY_P5!^%/B>\X\\=6:KIU.WS*L]LXG]^MHPAO'S[!V4=?
M-9/"=#I+E71]F@9#ZB%Q=?P&U94C:*$@ F 2IGL;5FMN05BA%=2.04F].+%'
M8"<']<_Z]S<1:5_D0L=;3@(7B=D6L9B*L
MZ8/:Z[6*?M8%0#T,>!O?YO$XJ7J_X6&QR'A.N>$$^4 ]-Y8Y3%=,"(Q-7[[R
M8Z5\O.EY!"@]2/8^X>_Y99%ON!HH"6LI%7J#-W08&Y//_SU%9\E2$BD(QP[
M+KC%1F$A";5%,BT(@9!59Y6OX"PA, \%$\@#"ZPRQDM; N"%[2E X-BSA-IB
M;'R6U*FCLX2Z.M#@+.$PW%[%OI J
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M7G+#%3J[&!? GZ4!EJM@4M1)#;>[6B0KB.WYT-H>@S9*DQ]
MQ"'?9T]ZZ!(+GZ?Q4ASIHZ?)=[*W+Q2YI2XB!S0$R@8["4EL"-"6ZS5X"'/>
M*,G@*?U4377L1(">'9K=1GE_CL=%JM_QN(B]3]*K0$$:/HY7V^W3]/HIFR;C#I\@O5BYJ'Z/
[email protected]/BZ5VSF,VSFR+ /BV(RQ^%E9R0A!.ZK-=4?HYOB]DTO3I++[/\
M9K1FN-)I7:=ZI*R4% D,%?.8,FL-@JOK'E(' [3JV+-KM_4>'O3=^L?Z'NS:
MK448"*N,\X82Q(*-I)A>W\0-H&C=4YS27F=VN^+=Z<[N"K.A>K8OYL&P>38Y
M[/=G[ZP3:4 I(0(Y!0@)JQNEH,1?28>&'1'?@>B?JEE+P/5@&VY9,BH=D3OK
M1!Y;PI04@H7Q":764,B2/AG\?C7
MJ^S[NZ4!G-\5DL?E'X70\0.AK[^.OEYLD>[]CQ$6Q##DL/!6%R':V@N[(56"
M884VMX!X=B0"/8S3CUGZM?J<^4&IR%FO#!& 48:X]Q9Y04H6BD3=@SKC:4^(
MQT/1Z= [>[]GZ)V]CS2&4%@I%.2"8V>*[ TEJ5R31E969V >XP25APL!&HNG,:]N>:-H HR?/
M7#9-)DN;?KECK-CI;*\0"2%L6.T5@!8"IJ&19C-70&P;I6_O^+G2/KBI0B@]WA'"NL2MD?!= KTX*A[6V&
M(OS>A;Z:_8I9[N'J5\2.96FMH,IZ#42.60ZAA]!R#Y%6 "A:,NZ5Q#TI1#U[
MX'CQ/R_R(>C0KWI>\N0WK>WJV]#2&YV2K-]%/*5)$T
M]BI>W>RY+_)I=%=\I7Z,\DDMW^_1C4?<.:> $) YR"300IAU)DRCO=(!_N+C^H@T=@8!JVB8ZZVF@++R/-PHCRI?G.G%B]RCHNSV,?>*\U ]
MST5D5)&)MNKR](-BD7+,$ 240580"K#VUFXX5Z@GWU'3@Y>^Q/XT%*TY@GT$
M(:ZIJ[[F^JA@)!'4RGOA&.$@C#OOU 8-)_UP7!\8*E.[2#E%,(
M]3@GQY50N0HI0(J#F'&!GB85*HY(-BTA/-P%>
MV*I[#(1]''$UAN6>L712>WKOHKO(42F\M%PR3!#WTEO@-Z!:,%P3H*%N/-U0
M# ?3OQ2V%7"'9M6\8#WM73\?/7-UV*-A:VLA&(F 0BP$UI)2+*TFKF0)8]QH
MF>W.=W!2H>Y[8JP1FKVX'-MX@0H3H+AVA%+HK!#$%=EQUVQ!QWL*/7F)2M(&
MGOVK24NO5@%%D R#(6Q"@&(8R-(P/31T'0%HL!4!LGK2G#=R+4CQ/$LAO$X
M)(9P%+)K7?NX*!A:KXPSM9A?9WGRKR+NI/W(BEU]180HYP0-0'KJM51*XG)C
MIA5@ PN1.V&\P(F1'[(BKYX1G_U>O#@].TL_Q7F23:IR:G706\2XH$[ L'1 
M9H2GUFY.&30.^\J7M1T?H#*WAOV0U;G(OC._.UMFMEMN3):7J;YA
MXP>2$!%F.0TK*W?&,"R=@TJ7X#N@AO42^DM4_&X%QLW]]?R&"&?(J\&'T,[E9W&R<&8MOLW&>+ ?[Y[!_[6+6K^@R
M8M:8(O%=T !AD2.$"[:Q&$FS]/"=)2!^B;-\NP)X =K]>',2QG?)>H?JO;//
MB$!D/+>>"X6 ,+9([%_":XEH%+'>65KE%ZS?;4F@D=GR;0_=W^[NBSRD>_GM
MIT4^O@Z_O$]NDOFRYIH=/TKR#Z/\CWC^C]%T\7AMVF.T]$M(Q#"%##M7>*0$
M(0CK>XN08]K(50M
M?S?9;/XQF___>/XY'F=7Z=*&6]IJJ]U*G5B8+ON/%/0  *^5%U(:RJW!<+.2
MT6@8LC1>\B!8;<]]EJ^_*LK!4XR&K8043F[,K- $0:JY-Y@J40J"
M.=$H89'\:UCT*Y:7/#[N6UI5>GK,=9*%HX*F2#M*@VP0(UQ*C052>C-]48H;
MF580_#5L3B:B46=Y"+9>R+\/4KH/+U/I9%NLV5]7]G.8 M<8ZY@$O(12PKV>GN[ZR7UM1.KNR
M?QC.HX%>V6]V?5 1Z+VBG F"@&4"&FM*WL,W/05\G"B(M+;@]UX?/ S"(1P#
MOX#;6$ IC8CWF$/*J >>0K01#VGX>TPZ@CDCA%?/%L&.?.4;E8;;+CH24-.>,VGMF!KW0X[#,\7>SO,.\8E
MEAXQC;F#OGCL;C,TG1Y8.L,!J\U1N YA%6P]	WCA[\5+SD1+ Q73"&%89 \H
MP4<.-AHZP[OW\5J&SE'">]$CYQ]+Z9QTY#PF(3(*02,A!@PZH,.^BFIXOZ52
MH,G(&=[%D=.4$FEW%RZL'SC(JHV(T*A@PF(-CR%B'#12D"*VFC
MKP_7?WL_AXRF<$:@64J.E2[\.G(L#B<:15$4PRJQ.@
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M$QM_CZ?9;<'_>NM4QU-?53N2,&P;PS+JI8;5[=#PN:Y:5%6-%#;6<*R*78% Q!#F-T Z!AI=2>GL7+4;
MG6@9HQX4XO&W:A&%T#UH!_KW=7#ZTY;CN/V1>+7:B!R%"C-G556>:Z54\BY^YER
M8)$ 0SE*Z03;TQ[XKD^MU3B,C61^M_^&ULY+UYC^0XFN;Y_WP*
M;?5B-POPJ-1%'=7'@.*1X]BX$!%9-8W$PJ PD[NKT]SD+9EY1M2G7U*7F1\F
M(RE24M0"TU,1D>YZG_>A].--_MO__':_M1ZSLLJ+W;__R?F+_2]_Y?_?U[3*K&]5_M=J?9?=
MIV^+=;JO8]_M]P]__?GG/_[XXR_?OI;;OQ3E[<^N;7L_][]U]B?XW]YT/_:&
M_],;QWWC.7_Y5FW^9+$,=U4=6R!(]^/?7OS\'U[]TTX[MY_K/-_DNVJ?[M;9G_[C?UA68T=9;+-/V8W%__?73]=GU<4_\Y_X
M>9?=;#[OTW+_-OV:;9F,^FEW97;S^B.V9?GD"=RAF#OD!-RA?[GP
MX/WWA^S?_U3E]P];9L_/(_0K"-Z_%&M*76W">Q610ZX^?Z!FO5_8IYOI5?SR
MD9HU-R\:V6U,O+_/'ZM9NU[)1M^,8I]N-;\9+QYY5O.6_]1;]J?V!_G3!_!;
M!V^A>O+@[-L^VVVR30W-)X^V\LV__XG]:76HWMRFZL8?"P?_.D4'E;:I+Z<9!EO!K[KWXF&F^R_?9V_PQ>Z&!
M'O8\_GU1[O-_U$U'\NTAVU49.I0E:Y8RV93]WN?#>IUEO!E+F>AT^Y]96E:]
M:L\E("*)"UR/!("&ON=X0>RYT,4NI-!9[?LZ\"(#YM8J0XW]F:I] !VDVN?W
M=3L_/Q<0R"U:,ZW/+-%<3-)F]J5-[61-<6:>)66UF5]:[E"6=
M[[];O#.S.6SGJR<,E\Q S;*4=V(9==%BW"B6^>5JJ^]>T?LINT]SUBPN/]P<
M):Y\%T&;PL2A* IU$%YOD>FF2ZL-$F*&["XRFXS75;
M3/B2.=UZJXW,LF7U([)8.L=1]%5SU"!OV D.@L"FL>,' $:HIS]V
MD&N8N$(:S#,W,LY<,;.-45>[S]-QETM?/'FY2+WLE2JQ'Y:^J>+Z4=$KE^1H\BIX:A"\[&=7./822@$($^*'R(D]'P:=F-"FIL$K
M(L$X>%W;.'B%K#8&7MTN3P=>]CN+!R_[6;W@E2FN'Q:\4DF.!Z^\IY? >YLK
MZ/B2)U[N)Y5OW=YKQ*"VQ@>W6%IFK8*U69<>_GK<3,IU=,
M] YKZS&\S_:KD 0$Q)[M0Q*$(/(P#OK5GS1VO=6^7S$^ILTJ$DJJ4CJSCGW@
M V42K'5:EM_SW:WUF&X/Y]N<1HP[7[:'>ZH>I6TP;GFE1:ZO+6+SX-KE4
M,N)M;WF/1%%UO5L7]]EG5O%FO/[M5^PE/G%)G& []EP0.9X+?3^(8T#.
M+=JE5GV\N6^J463UDF9;DWO&FH&/:*R9R_AZ1F=1Z'W%Y+Z7S^DVJSYEC]GN
MD+&OLH_FQ#&%(04PHC0$/HY XK31@&<#7V:T3S6&X1YFJTAV\X*R8V*$F<(L
M.<*T8NKJ>3:ZG+%E@"YCC5P&749G4>A]O=3IPG>4U14_B2.$$8X(09Y'HMB'
M7M2&"GP_EMIVI13 ,%=^N;:R_S[D#W5MS+=:5H>'AVV>5>J<$?=.'C)&;),C
M3"W'ZCE3*YJA-_":*X* D39Q>7213V$ +8I^J'#EB
MLR5!0T']J[A0=4$.%%W_9^4$D1W8'H9>Y+HL6!0X?1#72:0&5B4?O?Q!#UFO
M9 AAQ"8U0'R^9(Y!/'2Q+])!VJ\EP4%>_*ML4/1 H0T!=YLN6,VBF&^;#ER(
MDCA&A++8$'8!@R"@,J,7(\(8'LAXWDU1;E!(VR?=MC#IW)AF!F^/=<+F;7,\
M1QI*/PY:8.3[XF/\ (E1<6@83
ME)0_/]A7.7O1K_[#0U:F^WQWVZY-/QZ;&%$2AK:'$,-,8H&B6FLDX/&T;5.U&R#I6?M&6#*>$N701@->12Z7S8Y
M^GS*JHS][!UKX6#6]-\6]=AB&WP5>3X@V(]\RAHZ(*)A#+J9H-!!5&J!R+A(
MABG4B:L;\9NC/#D4C313#$?3^2@[WWMBX8FRCE#34FG0I0$RZ7%W&732E$MA
MXOV37%&2;=E_O64AWZ7E[]D)'UMES4.D\_X,+5 9;^HR6*0CD>?+
M5G1Y(SP^D^U8XXS?\0(W][email protected]!JQ]AF&L4=BMX\*O5!J
M+5/A$H.:HSUE+!D9X)W90<_3DQ\JFV>2AUP:FA<2)-'B^#
M5]JR>3Z>I-4E47*='H'PX>;Y]N)52 %V'((CEWB1&P$W=+MEP&&8Q%0&7"-#
M&>;6DR-!BALK/^ZJ3VN!S]U\<4;!M.P:]FD 79H,7@:Y
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M@&I%_GF^F7TA\X8(IM?]A4!-\BZ%F09U.TETV4P?AM/JHG6Q+PIDRQH0M_A'P)9Z,%+8D/1(_O9)]
MVEG5+SZ(W0##)'2C( CC)*9>@+PN"@H3M-IEM^D^VWP1QY1L"*'O*6Z^IQ=J
MA+^M3E4W3B0')FG;Q$ADQ"K%0SY;>V:90GOFPP!85!U;!DF4U;\XP7.,"\I-
MFRZ<@V(G#FGHQJZ'[9 F=M2-0T6A[>(>&A*#1*JQ5.@A/V!4_XI5U/6S$D#4
MO51LTVCU3U=K9A:XG+-&IODBZ^8R<#,^C4M-%C5?Y([:YN-6E.6&BAT+>6!1
MVX&M8E@VP3
M:L;"%&V._1CE*-NT.QF]MS@EK&-JUC&WKHC;GZ_3N[*>)&C5&5Y93W.TNB3G
M. [>2&D--D#G?T>64;LLPHE7C[9?0NG(U7%,25N5)MDNXSLG$XP#SPT!L#'$
M3N@1F]A=M#AQ$Z6.N5JHJ3KH7($X@C$(88(\4.D$,9^/YB 
M,)!I&:*VK!Q-),T18X@Y7^3(P2UYVCZ$^WV9?SWL4[XD=5]8']-R:%.G
M$8H\<6> '6HN+H,8BMH+'>^1PC @*NX?RNR.L2A_S(XA6?P/-PQ3'[,R+S;L
MW\LLK3*<-?_;3[U"XL.8T"1"#%Z)$[#FDW=L.BDL_# K9Y*9TO5I"OV\*>>3
MTOH0PP4D,0JYG+)1&:]\HOXI&YO[B8J;NJ$UZPJ3419?&O>$I$WYM
M+'5*KW7PGK*^2M0K6W[^4Z:YB2EC'&NXV]=^V=3<;;O[K4.WY+O)62>9U;M:3W*SCLF=5C_+J7/4"TFQ'IK@K5A^W32%
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M!=!V714F/C65X&*-?VOS 6C05%VBES[XS5B#W
MK/52[8OU[W?%EKUAU97UE:?1G'K=)&+]E.^L3;'=IN7)PR07K8TN&#$03EDF
M;-F@MI/IPV%=[]MXQ=:LP(A01CR#?B1B3'9B0[N:B"'K4
M7['G?"U$H:@[NLP'>2I4^+OL!+])&\4-W2K>-CG%HW6H& D;9CZP5*R=+KS*
M<51[Z8IQ=-LI]1JI5J-UOIJQZ9D3W1>S0->23<'0&RJ7)8!9F/9%=.\
MW;);)1ZS=@D$SK[N645!_ON0[[^?C 9W*V-\B#U(;1S9 +)6-,)\,#AV D"(
M[Q,D>HRLQH@F5__W(MGGRF36\&R$GL[?S+5B3=S$P6T"VDMB&9^PB<1>;"8P
MY)WP6=IGIV]6**$!=L(8 ^S;@1LZ042[@,"CMM0YVNIA#'1?7)P&YR2GOBL[+/^#'!+@ZG+X)2.1)Z?CZW+F_$<:I:T7._>9_M?
M=V66;O-_9)O_Q;HDK#7S2YKO3N<85LBV[0A[/O2I[;L)\4GB=N)<@!V%K9D3
M*1/Z3D?OY.0#:X=>:]T)U$<[O24UEHS3EXY^BEY9QP5=O.B.B5AM)A9/Y96)
MB:7P5Z84E%AMI)B7SG4S20O7 08]%[]#[Y:WFC]E#WQ:>7?;-Y/Y$5NQG238
M<6.;SRL#?HHR#Q<%D%+1:W*5GV^.%*TDJ]3[+UEQ6Z8/=_D:\MU,7^HU
M&MFW?<(L^'T5^+:70)A@@@/;AY!B&K>*PM"3O3[7G [#'<;/Z[ML<]C6RZKY
M0'K9I%)97[];M[UP*V7*9>_;-5@V8M1;2K'(@;%5W9R?U.FV>N&\8([2K5J[
M]5NMWN+RK5K_Q @=X?0 9:)),7]P5/)6[HCA_6^QNW^:/V::YM^J2
MB!C ($IB[#@V93$#QW= )P*PCKP,P36'GA#:6Z;\S99+;V_)&TUNW<4@!NL9
M2T".SV^/AL/>\,416<[. 0@;*I=E<-=4K;=%=2BS#S=\.6"V
MJ^JMDI^R+1]^0T6UK^H)UJ]IE6T^IM_K>9SCA(WMD2@BD,:)BT/(Y"$$XMA'
M'H(XC(G@9VY8A;G/_BB<4_=4NM5JMVKQ5\WBAC>U?JM+8+;.[3B_![@P44$N
M@Q-3)5O,\K%(CE6UC8\/-]U2.J[D* Z6)1]/JZ4DWX\_T\J#?Z3EI@;>*O$(
MTQ:LF:%27>4P-+8Z>5DOHXZ9(>_GH[&R,61#VPOH1CW(:#KR%0>4@\VS'^NQ>)B6).1R9$DMYQ%
M8O UYHX"1I B"T2-DJ.! 8^4>7#)'J-$:((+,$'2L65105;\
M&2XH>7")#+?YZLL?Q9>[XE"ENPW[?S2_V6?9C@=]E_$=!"O/IK8-;!NY?NP1
M/\0V";N 24*$**$AC&%B\#?5XG+$0*'#MV%H3&R9'$"8,JN35N]D:,75#EJ_
M-?H$F:O#RDVQ/O!V=-W67HJE3T1-9>TS7M_FG,$!2\FK"7S9@E=HK-&W>8,DJ.PN#=FUOJ>VC"T9%?)KF6TX12U/U] .\(!X;D%Y7&G
MH[K=YEECDX XHC$.X\#SW9#&%-NTEXIMJ1[B+ (-TZG=P-D.*RMU->')@3F+,!E$'Q>"YY/$\Q?'L*'4-T_;(OO6?:9'_S1
MMF0Q!C9PO"CRDA@ +\:)3[I(GN?)'3RE\'S3\\?U&2D?'NH[*"5/AE)Q2PS"
MIHV29&BKQFK,DNV/:CKSZ:4E Q <8^ RJ@^?G.8UV0WR+2;4O\S4_?.0D
MEN?;,$R(#X!#5@X)I98>JT4P3)&CJ.;0)-F]'TJFB:'$O%]R,#FQ
M:DZ+Y).JKD,4VJ40\+#1Z&! #QL<$
MD-"V8^S%D>T&_1(/[+M2=^VI1S'<&*KUU,LVF_I=80A_A(."HUR3F"<')CG?
MS Q5G;-E:+QIM)7+X(^&/)Z/_&AR1I0[IV':<:*0)JP]Y@&?0)) +T2>WP>*
M 8$RP%%X_,2D41J,5W%-##*M'EUF&PE\Z,@"6$?8M@RAC$GA^(<%8+X09
M4A_]?-JC0R'U( QL3-!7JLO@^90)RZXZT.VU\1JCN]R@N=4 'O9W1XSIBDZ":N0JY>WAYS3.P'J5+.E8N)&F;T._"#5SCC\]=5_V@J">/54;MD
M[!?V@_OJ>O5NUTOGA,
MU$\:7H8?O(;2X8"N.DI;:1BOI9KM#]>[:E_6^U*K^K+V+W?I[M4<5GZ 0P!)
M$A*$ B\FQ(%))Y_84&JP?S&BI^ABS5F):2]DPS7;G.4[>777;D ZR=:JT[7V
M+-_SE>$/4@M*%J6)JM'4V_2#UY?&;-%5B9HMMTLUZVVNKOQZM^;'$&?7NV/W
MM.FN,JEK?OK#;7,":3<%=WH%*_9 [,4Q!A"Y &&(8M0W$'PD5L,N5KSAFO:H
MD(&R28,3,Z^J0]8/:UF
M[C)G?S@9'&V'2Z^LDY?M0WV"]7$EQ(D%/_J+)7R*SC+UR[Q@:F?S+/Y%NWSZ
MSRQ%]TI3;_%OT>PG%2W&^WUU[^%JMR[QNO'Y*]]DJ
MP B%48B#V(ZP2WP_C()^QL(/Z"2#*6-%&F[2D<\?/UH/Z7?V^UMKDVT.ZQJN
M#T##(M<*"43PR"Z
M7HP??-A#FPVZACGTELM4==K367A6-7?Z5[[C(AIB&D;0M2.$;=<'G5[L1W*W
MD,RF'IYW15> !)_ (X<<$1+[O>LEQ$B+T
M@-!)1@N5/DE'[Y7*\+X6;#URQ1R(ZV8 3&7+6
M,?-CU*[#DA"BCP HRZ)@$3)(BI6->F&:]B_
M9_GM'6=H^IB5?$+\H5;9#I6\J&][X0NI8A5?AYGK6O-OPER5+L_VU9JW2=FZ
M*4KKD\!;]&-5P:^6YQQU\;@7ZY^\4AYISE2ULXXRG+V:/CZI^:7GNR]6"0& 
M)>,&?AC'B1>Y,.F;'0!X4I+Q72/F7#VUS'72"S7Y+EK\TG?DD7UID\>
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M^&K26N5L9W6?LVV ?#I-7P;XM&9T_H1O36XI8*]9Y7ER2%\208!P#)%#H0
J9G&?42'>4V71=GPVRBFT?)W;B$FI[P(T!0*2/%N D',4EP1AS,*DY
M&F4DCT0]5&21 ?O&<^C*NAZV;AH(-2)D "3IYD+A(YO%)? HN:(,G=,S"P*;
M!I 2/PG")'1(@D+?Z4)Z+/HH\L@$F@,_A>Q!.7HL5021*3=UT$CA)!A#2!H^
MXT6KN0N%DU(JEPBE[H\HICZRMR(KRW9UV=E.HQ\$A"8A2("?V"Z"%+NP"X[M
M4&K>5U-(P^CJ59H9M]+ENQC59K!*+7JKOQA&*:HIZ/H(Z!IWU>>;^[(Z2<=!E]G63IYS9^!C&FWH,KZB\6D\7_FLQQ?1[^9]MK_>
MK8O[[&U157VL($$AB7R(8\>A+N';EYTN%K%CJ<-"U2(8KN??'^ZSDK\X?Y6K
MSA7M$F.,>:?D ,/T6(T@ZRCJ,2N_%DJ0N?AL
MF4_F5(;4E[-E2JSTV0>S/IEMORNV[%V9>!O7$Z-$/Q5A0Q?XB8AK'_HT)!T0
M_22Z,R)@KW^?W6J[^[T\P:06_//WZ1/255[email protected]  ,T6
MUC) :3C'8LK7WR!X5TP "A'Q?>H!Z+IN3*$7>H$7\WH@=J4V@^F-;!BTG=@W
MW1E&7?OEQ:BH]<;ZRA4;Q/'E8C" 8:TE8!Z_"V:N+M8*E\@/R%CQW,:P5=+!
M44S%^?:P[ZZ*.Q$"-_]UJ/9\_^_*@2[V L?V*<  !1$& '2$#V(ZGJX:-)AN
MT'*%^6-F93&?_DV-4KZX^TK*]5OGIQV(S%DGGYCX==OJ_4[[0W5I8C
M$#UQ,>J!=2OZ%6);1]T+H/9EL]ORXEE%M9N784C3O99II-6^:)!: @/.&RC?=1A?-
M@C]Y'=F)-=\TN:@ZA]YTQ'>;5L;*H7'LQR&Q?1=$ONM1B.,NJA,11V[(?FRT
MZ0;Q^PTD(L/Y74>X;I:U'W?=#CM4&Y&M*)/,SS_S6F*:7K64EO$]:\OFPJ3]
M.)=$OU><5VOV@A[*YB*/_MRS3\WIE/SXLZJ3T]\24GW)ONV3+;_P(PF)!YF-
MCHV=B-J,'*0]Z@S;3N))W7-M6HOA#EB]5NF5TQOE>DW&"T2L][2DLI#K11V5
M\R[PDV,R6_'U.=C5U6OW0%76;SP'JTYBXMF'D98/ 'BJPEP&H"?+MICGDY$\
M-7)]EVT.6Z;I0@7SA3=(CFJP;X=Q" ,< L\G8>0DCMNH27P[@E);@4UI, WT
M5C;G2-8ME.R;7U+Q>N=I/'O#RZ$;/?:NW6
M;$A7]'@ Y:9+;1D(-Y[E\X-$)W%5'MEPM\\W[;C^YVQ]*/-]GE7DVWI[V&0;
MRGSC%A#G4\RFL3''J@$^J$7JQ&\\GD30CZ]"0GJ^J3
MLK(V*XN_K?5Q_FU>K]<.JE7!="4N6TLLLK#5*Y#3=*QC/A9Y4L[H:3F_MEUB
M,56,K@(2JGTF?QN65C%-;\#9.FNFLI Y(BVOIY4J5I&B@JG=W6:[-=-X[#+U
M:[68 N31 -E!%+H1ZPD1SVLTP##&5.: +WU!S2'I1&?=.3;,E(-:O^4C4("/0>+&L1.$$&&"HR0.6Q%13+'TT:L:
M0QMN4@Y^U_+G(>KT7"- S=AMBJ"SM='DO!P+4?E"^8$HJI"<"D95/13GZ*[&
M]"'=?OBZS6_KIAEEX=/M?[+.Y+MTSUMQW[LVWK-A!\YSU\K+0[G5;1^%75B/=XMJM3KS5E_+U1
M;@]B?8I27 KE)\GU!?2GA#]'>L8, V;#[M/?&"]Y+LD
M=IOW!;_:N_DKGR"NZO;"*J Q]ER'VM!&B[![*[OND%U9O?1ZU.94?-O./__USEV.8JA<9A'*P=5$Z1EAKS:S!V@]?8$N
M@^\SY%W,_2DIUB')]_Z/_RO/2O;[=]_?9H^LH+[EU2I!/HD=FG@T! A!VPV2
M/K@-B=2A.YI"3D;_*ZM7Q[I^3)HJWD=:+,GNZ=Q5!;.$L6;).VB5"%;U>+TP
M9FI*ZAP0=7HF3;O3)L%+&;BX3_/="L51&-H)\'SJ(B=$K/D>=!I\VY$Z^5MO
MY.E:OB=?:*--%7YZ')=DX.1F*[=1)7PVRT(1RT20J-7ZA9%1;V[G &G 06E.
M7N\>#ONJQK+S+N/[LE?(\1R;P9CX-(X HM1VO2YBXMBN$A45XAAF8*W%J&N$75FM@]9OC;JY@/;2)Q%\C7!W8; :D\DY-(UV9PR(W#9B
M0GR;V#'E>!N0_[[P!=>]-L6ZGXK]9&;
M1#:(6-\U\'V$;9?V_5:'2JT;UA73,*!JF5:MDZ]FJVRK%2>]L6R,>V*$F\@X.:3]^KES["F_9NG7GG=H %@:;%T&H70D4FA_Y609
M]$OQF)4[/L, NXUDC(4OPML^#!.?)"Z@@0-1Y/E.WV@DO@/DB*0IZ!1\NNVE
M6JG2#EA]%HMB:P9WI2%VU&C!?KLK;Y\M &IB_@TB3G,1+ 5XNM-Z@3\COHGO
M:RT?BC+=9Z_&9(T^'/B0("=R$+ 9B>-N4#% (93).3I"2W5TZ
MRD@QSDWGH1S#/@U 3(^_RR"7IEQ>[,O4Y]"4&S[>YKOL>I_=5ZN(
MT,!/0H]U8D,/ P?%_5!@X%-?ZN:A:95-N/2WR:<>.#K)J-M2L+'JLYG/;BBH
M\[)^XYE9=6HS[ R1*'#)B=_%E;7Z5/%DQ;S8+21]B8A,2D]:\LNH16;*W3O1NK%U ?YR]4%VFP5H_P7--\E&7N-LR_IMQ7%A$:^2VW?#Q(W1$Y(NQFG(+21U IK\VH,-\9K;=91
MG,7520Y)3% DHZ$Z0VGHQ>TQ >O5,KNROM996"R-Q7!8S'4U0FLNT<6S6W>^
MXE0WXK1)WK]E?SO1Y04NB5P:(\=+@L2'@)!.5QS&:+7+;OE#OIC%OIPH(=#$
M#6A>Z%>G/Q>I>6OV?-/\>V<.+\OLK)VK;
M?&8YCA-"?==U<0P8:ILS;VD8 .$QDS$AS'UYO:HEG L_8-' 9Z;#V&5\75HR
M*?2_=HK?TJ?TCWNS\IW5*EP*T\[;
M)@(U#:8OC&HZ,CJ'-6UN27.-YKN\NLLVOQ3%YEED[/K0MOW IQ0G",&8)'WK
M, J0U)BUCGB&N=8ILVZY-$6LC;%3$FL3.:F,M=[/6N!2J';>-1&J:?!\8533
MD=$YJFES2YIJ+-C*];T([email protected]\\5!J -$3E^',E,6DL]V/ T];S_MB
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M^5IUPE?=\9 G.5MUTM:>96VU:==SZTWB[(_]R]:^6[]Q,ZS6C8GG JI;U9?J:6:GDYJ^4?V&/V%?7NX]U
M);1*'!OZ28P<&"2NZSG (;B3[Q('R8UA+4:V\6$Q@:JXELS^5:0"_L$0^K0T
M9B&HX@OQSPY055LFX^>HO@E5MF:P*'E5N\U?!M"AOLOPT@\CV_"APD>?;<8RPZZ(PZC+ ,? 6
M50O+RU],1=Q+7V)=K/!:S%T=&WH5%EXC']^B?[I*^46!SE(OJ[]6_^Q5\PAG
M)JN=QY;>_!7T\R%2)R8 Q6&"/0I"B#");+O5#YTP(>V\']EMYJZ;997+S_IU
M2>JLEK/=1G;"[P?CZA*G;$3?C7]VIBK[,MN4C5S)B?*42>*'3/ [!^!Z71[2
M;=7OB >!'<4)B1$(:0)I%,6P.4G;PY3]671@:$P(
M#6!#A[/+^-"U9%+H?^\DCXE:KXL#^Y3;R%W@[/0ZC^/)$U^R;_N$F?#[*O0<
M-TR2)(+8<2"F/@A0IP91)'4/G2D-AM?VMB(M\HU#M/TLFWY8>[37Z14^DF=+
MF2H6,?XMH43DV-@IMEK)1T9F3V]2.CTFAPNW:N43LU/1WP&NFBZQ93#7>);/
M3[2:Q%515O,+_HZMKR].D=36#)7G&V;L
MY_5=MCFPSYEURXZ']]576IZ.?OU6BY6\TT[)3C%^FG92&>'*:[X,@&64CKB/5NG3".$'*Q'U%^14[<@RP)[#%T$0PQ"U\:;2,)
M(^JA&F,,V*>#,I>B39-SJQ
MQ_JMD3/U3NGG=@S-NBE;MPQPC-#_?!9KI!/"S9-\EWVX02Q4W@6*/3N.63L(
M!]2/W-AAY4JZ0-3&4@?K*3S>=+.$7QY?W%B-)LEVB()9@FT0LSY)MC^>6#03
M-EXZ,M3J4+=O&> 8D\#SUL98+]3&:YLN%(S"(,(NC2+DAEX"7-@/SR0)ECHX
M7>'QAM'Q;$A1:;!$Q32505GM?LDA1-*J"<9>+XR0C'!O&009D\#@P*N"%VH$
M>9_>=UTC'R:!"VV,L8NA[T/?#8)^*,:F(S@B$61:FEQ97)KB (FZD2IL,>3A
M*,*(VCI+5MZ_+=(=3==\JOM[VU9*
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M7L9%,LR97ISU[ .2 \U(-\6(,YV1W':A
MSR%14/TM+7.^R/E3NF\6)$*/$L>%B,88^E[D>;$7=F$H"J0VH4D_W#"..CT6
M%Z34=9*W2PP^1IV2XXV4248(\]R, :@H^[8,CJC++S2]/^JT:-M/=N1'&%,O
M]&$4.V%,4-*M$/( M($J+P0?/RTQE+I)*J;)4\. 7Z.X,4L'Z:4A@NR0=&]Y
M])!-8( ?2EY([$S8%+OK'?L6OZ:[WS_F^$
M5Q7)N[D,(HW.8G!-D:HK,AL^O[2[O=ZSA)NS*Y^BPL"L,
MJ1O&49)$@9^$<4)MT),NH43J+ N%QQL'3[JSTMLR:PZ7YI_1J*-RA!Q3:=YH
M-VM4R^;*^C+DU!3GX;#XPJT9*?.609$Q"0P?AB/OA1H]:+K.X#VOOE1,@YFB.,&@4_%PB;E32&(2.LB]JZ*G'C+)JS\>*/N_Y920?,_;N[?;I
M;;:* Q*X)(A]Z&,$H@#$$/8S\ Z)U6$T*JQA/#5ZK+R5:)7LKV/(-,YB%59-
MYNY(>G4ZZT'K*ZLU_JAU3J0->2@,.2T%L43LZ4EL$(0:O1/8I_8T-MEM/MSP
MYA_-LF/4#S=P\\@O;5C9D0TCUXD!1CY.?(*!ZW3A@T#LU$+M00UCD_3$<=P_=(W!@LFR6KN7[)NBO)8XRAB
M3L52R1K%L)NZFMEU7+[NL
M8E$]#7!T8,/0/^[U63=[??IA89418;V6"TYRS^6VY-3WT],&.Z57_K(+9,X!Z_/V"0]7:RB!9:!2?UJ#0]7:?!O3MOQU=^"WL;9L1L7]?;ZO
M)Q1/QS%6KH=AC# )J(=0##R /-ROQHRIU%5?YE3,!M%#+=_:\M:2ZOCV!(6D
MWC2=OGPTM5,;X7WCE#5<>^U\1':V64-EDR4;L7H+;AF8GB!/@>:M"6=50+ZR
MB8UB!)P@"/T ND^<[MM05(E(/-K[>BY&V'L4MSX%7G:R779.'I5;#
M)/G7+U%_2L+YH";(*6'/EH<><>D#-)',7V!BB.SV_"2X[NKN $4^=F"$4.+[
MH>^&'L$@"F'B.S'V*+D\9R'Y0',O>2-$Y-+YL9X(SST8]$9MID'WT.0=& V6<,5'478XM>[#O>9/D*MR\ OY5LA6 ",70\-_)\2#S7\[V@>SQT
M0R12R4L_U' %WVFI[] 3^Y;E?1G&FU%+)(>,A-P8J+>K;/V7V^+Q9Y83K[)]
M_@?^3?LG-?7S?%_YJ)4MF?>;5I==C'P5Q+]HR)Z]J?L(V_1V1=FCH$\20 *$
M[0#B /?$"* OM$Q:_JF&O^E>C,75B'_4DM9<_JK-N2+W60L:HN&[?I+QF0];
MS97YOVQ%W<78]T&^MFX6!Y#=!J?[;!6". I]SWQXYL,%>JBZMAQ^*&?P"D'&N2'"D&8(XE-V
MF_-!B.9&KE40T/&: 6=@,#L%#U:RFT4-;_ A?CG!#A1;MJ]]AXZ;I B%*"01S'-O&APWP@
MM!\.#7PBM 1L5 ##U.A6M)^VL^5'--3MNPR/29R3XX>2:1H88\F[0;=K'/$Z\$!KU4/%N?JIHR.'LR(>Z(^+]&IIOLQ(Q
M1 ZU(L%^O?/]^E[*WY
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MO:BKA>V*HL +6!#D.4D4^=3#) EBE^"0XAB*GTHRKK**MO@4W+L &'!LBEP]=E\$I+)H7^MTZ.39^R
M=<9HR")6[[-]%PM10OR0.JQ?&5 2@8#&0<=!$(DMMAD7P3"/3D35EU'*\4?1
M-#'RF/=+CCE/K&**9L+-J[8,@&:/[.%%^9U%6I$H
MHA$)62?28;R*0@]%_?A4X"*IV^&D'FP8(IV6R>]=/35AX!-0\FH9;[Z:]$+#
MNR+WGG\LLXL0B\ (&"1(;_OQX&LYNX[%3!R
M$YG77T<\PU]%*]'*&HU5W0,ON$QK_61L5:[.U>*T6 T\MT2G>83-6@8\
M%+4/3>M(.C!F;//D%GM,J>^%@4TA#'W'9ST+$@:QFT2(XL!/I.YB'1G*<+/G
M> 2FH0%.&5?5QS@-&:IEF/.H;?Z1SJ,6R<%.!8.7P21=R0@,>2I[)-YM*QZR
M$'OC6 =Y3=,.(^#%T SMT61,*.#ZD_;RW&TFM>QL5R'A'
MK=%6]R"R3IC"<.@X-T7[9!,9*=L9:V1=6;6PVDIRM/+]@)6&>F'G;1KL?FEP
M=QF8TI/*BPZ7-G]$$47S7;[/WN:/V>9ZMV?O7,X0V;3H>- H"H/ YF?%Q="/
MO(1U\/K6G N)U*#2R%#&1UD[26U';)A01CZK88<&/BQ-UB[CT]*53&'D]9/[
MO'XIBLT?^7:[LMGS66,B\"D)X\"A@/C]XQ.42"UH%7ZHX4^FTR%7C8M;(E9E
M&W%#KGJ^:(016G11![@@[E/A'8(
M,8R #SSDV10%$)$N+O$2H7I37S3#'.A4GDS!;/MA"IE138W^#K-C'FOEH-*[
MVFZ9@2\F8 0&*DS9*W%M]>0VJUY>K<%ND3NL1?QX!>GZO9S]=@K=^12FWCJ5
MR:N5G23 H0F%!)/$Q3Z( ]0^// 1A?*S5A6T=*3%?WJU)-DSN+7SZ5?^?UK><8)4F^1OBNVS)"*C\N<7(KC
MD@ 01A$W03!,  @HW\'DAX&#$];PE%IXIBVHZ7FHH\ZZV7>J]/^V&JV2NQKU
M^2V&D5FLE@/-+A""8N
M@5'B0 =%$ '2!"2 GVVC2#_9,(9YU^T^WAX5JN--VD)IH)ET3QEA\^_A/N^0
M&+)4;5T
MO&,P1VH!D&((PP#J5%D/C2S)#IBB;8(=,O..27;0.K-:17.M(7S5EZ$^W#@C
MEX&9L4D\[^/I\$0"+^4AVSQM;=6#1R?_M"*AZT>!'P.;NIY-?9^ J(M-$93:
M3:TGHGGX<)%#FRU.&D;2:-)AN3"I)G9;&ERUT<\[?LU(]%L!CTV![+)MPUS3
M:/MB,*1VR$:8@Q#+IX
M=A0(7?0X/LI$7;V'HN0S2%9Q8VU:K9;X9)L&,\60-HV/LG.7K5] 5R-MW09B-*01Z'[95-%T6.V._2-/V##@-BA0RD!7IP ')(^&"%0:LQ)
M,83Q-14]<6I9JM"1LTV6.,8<4\9-K6AVU)SZ(L09)2.7!AFU),X29H0GZL/:
MJQ@YV'?#T <>1G:81#ZUNT @=HC,M+W"XR>9PA_=9U/Q374,6ZMEX\>NYQZP
MEAJH%O9N&2@9D\#%@6E)+]0[2R<+C((DM)/835QJ.QX+9V,7=R%1 *16!HP*
M-%UKA>]'VF95U4.F[4:-[37)N*K:<3)DJ(Z^TUR;4H=,DNI!*7B[#"CI2>5B
M/TK9'UE0?4F_G<#Q)"R*?!8M0:$7> Z!$8ZH)X3(2]Q8L>+71C821?!
MI10K#AM=?.XDXT4ZQHDN.R0]0*35'.61H=D&A,1&@H1-6@87E)2?'_N1S%[X
M=IGB_C[?\TV&?%H>%;M]OKO-=FL>,7(BQPUM$B(;NI'K^$X<=IM18FICJ3ME
M1L0Q/4M^E-9<*',JSOKI?;'/+,?YL^2],F-\%>/'5);*\>2YFT]T37QIS'F#
M!HBCP]9E$$A+)L^OA='FCBBA!G:(4 0I!#9P/EO:&"?%D#21B7)$>FU#GP7W^S+_>FC.3-P7UL=T
MUNT<2CO0-+B]#%#I2*30_B9*'VS?#"35D9O;L7#H)#CPD>=0 B!"3:^MB>0!
MA"0/LI=^OF$P]9*LJKE3^_^T_V+;CO60EM8C%V@]9*55\>W*AOZEDWS+PIB[_E9[E"!^$]\5M-CE?Q9-N/Z;YYGJ'TH=\GVY/
MHK/ B(7U2(!] #S7 QZ$;> 0Q%#NRO;QX0S#[ZC0XG>DO,EWUKH1*;G[38.Q
M8L"9V%,Y!)W8R=59S,Y6WY5UBJ>)M[U=M&R 4!K]7@:S=";T?+>;;J_$[R7=
MI_DNVY"TW+'V0@77Z\/]89ONLPW.;O)UOE\1$/L)9B%I3$([1I#T-Q>&+@P#
MN4M*1X*L3IWUTZFUK<#STR.&+C>]
MY-@ SS3:O0R>Z4SHQ1VHFKV2.+^@"U0OAV $?2BSNVQ7Y8_9=;W6\6U1\0//
M/]Q\2;^M[,!FL=T@C!Q^%J:+(M)3-0X:+4:L=9/7.Z?ZT6D?/,UTSSY:0=>PT
MZF7[5*=/M3IG;-IT[KE2J3E284N7@:8Q"5R<$Y7T0M=YPRN;^#@ 80QPZ/K0
MCE#H^%W8P &)XAI3M6!3+SRMA_9UP6B\U6)HFM1E.5"]?K3PLLX3%EOA.L[9
M9?!*7SJ2YP9+^B2\4>'^8_J]7@F'#UF_
MNL0&-D@\%-J. YA_ 70)#>( V+8#(^IY4KMW-,D:7=7C&9S
M&BL'MUZIU4B]LAJQ5JO6ZN1:F,]UTKQ:L]J&EX3U+MWSZV'G.V1=TN4!1IHJ
MKV4@TUAVS[<5&751)U _9?=IOF.V?[AIWFC^0J_<*/1BET6VO2#$&$>4V#7@
M"8Q]IE W6M54&(9LO?;MI[*6QN1+;DLP:+X^\IKWW1"#KZQ>.A_N.X'Q\L#[
MJLDC$3RNX'X<&(_,4P'+.IS5W.*]WGWYH^ RJE7@>6Y(8P3=)+8##\08)9T.
M[#E2&\7T1S&H,ND\R7V3#1-6LGWF4F;>KX=JY" ?TX
M<%7,3ZVMJ^RD?IBR=S)KE&!^R0AR0MNU0Q\FK*WMP$X)#4(30PA2\\DO[PYN$:&X*KA,6:V6K&7=-HY:H73=;>5AU@E2^C
M'XRK"@FJ8E752_U4S1];O"=^P$)CA"-,D(<]SV\W57.\1S R0U7A\,:IZMJF
MJ"INL6ZJ&G'7.%7Y\LM%4[6S50M5I&&--/"_W&5EEMXPC*^E1KY)%T3Y=W[ S^([,/-IXQ?BL9W W[.;NN8*]8^=7SJAFX4
M8L7\&L*7!U&602D;-E 3F>'Q
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M=OOR^^K7SRLO\E'@$B^B./$QI@F-"=4."8
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M[X/L-8R[JMCFF_K-N-YG]U4]%CJ)A_%$(8I
M^42550R^D!CDWAQ(Z(&3]1)
MTPZ68M]'?L*0%K)@K'V'41!V"W8 @F <:P2#S$$;I:D3=1M5B6/ 00W,F67^
MY)PY4MR1]'.IY)%-XR)[E'P1O[VP6RAX.EW#K\FX6(Q
MYP; IMGZ96!.=U(O+CLTX)GDLI77ENJ]S7=9S> 5Q'$,W,AS(.ME@@!CY'8K
M9AB,@=0MAUH"&L;?X")8ZS>NLVEQJ*UP&6FV& 0G]UD.@1HL-KD89M"VR^MB
M]+B^#/KI3>GUU3(Z_1(F7[K-JD_98[8[9.^S_B9>)?3,RN&OAU%TQ;RF:BJ?_Y%C')!8BW*^E#R6Q1A
M567[:H6)AQR ?0)A3!//L>VD6_*2!#&0&F^1?O@DK_^VV-V^V>:/V<9*:UG2
MZU,D'1.KIXV:)5[C;\ZKL'7F_WES;A"(:(TCB$+O5L/D"#@R8N!0D(1#^&
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M6[C+H,C$.3\_>VH&QR?ASFMXC"($01+AR*'4H&\8V#%B4B"(G\1'T')<%
MC!/B>$$<$D$@C8A@#BU'45:G:K9FYWF#!CYS#:XNXX/5D4BA_8V3G!?.;W?Y
M3;[F?=@7L8]?,,80!)[+ B>L]^IXC@.#+CCU8JG;IS6%-+TJYG!_GY;?ZU/B
MCH*M5[X^R54QF@P77!2*V.&O9VQX2-FW= ,OU[OE\$\W4D]7P]@PC-1
M%E[OUL5]]B7]=FS#]/2E'D& (!1&KN\'D$1Q1)L!/(@MSDFA+F/L%%E
M,5E/^APS-2H&/!KXVG0XNXQ/3$LFA?[W;O3'=/Q^;4P(22+ 0N(H0+;MXJ0+
M&9#$EVE.C IDN!%Q_+!DFPGC[%.&D1GGM-!HMH; D$UR0))W=[%$4DCE,I)4
M_1%E$DWS\F_I]I =0Q[[5PE-J.<[H1-[V*/D4OZFW>?HUW^9[UE!_EZ4\].;#
M[E/&5^RQ-GP];?'KKOA:9>4CW_USO7LX[-E_9FZQWZK'$X^?O^_[&  _!"1@
M?XJ=,(JB3FI@PU"F?3"+0-.#$R=GV-_P+_NQ_K+OF[2:V8-#Q3O2U4G_^G"2
MG97S]"0;)?.4M21WEUK,JKR^LDXRLKJ4K&)G]4DUDX)7UFE>5IV8]32S]AH#
M:[:VE(E2$JDOYG@I%E;/S&+!N?IIOO*0O^V&YOR,WGJGP/5NSS[2G"EJ5J W
MUSK8-$RH"P)*,< HBASBV,WU7RBPPU#NF@5]82>L@QJM[6Z*H]IV8\78"VW&
M%X#@8/D\WDL.F.NSW?"=-9=,'!HZUU\2RZ"QB<3.7DRCV3OA'L'YL,GW=^E_
M%27:IE5SSA*),; !BI#C^< /@ L8Q5L%@0>D3H;6&=JQ:L
M=":;UD(0;('/Y+]DPUJG]6;:R.(^#C5]#93&,AAJ)+/G#55C[FF@Z#'^^_0^
M:\^,XF?V!SZ$(;!CF"24TM#M5'@)DMH/I3OVK#2]>O)!<]6*Q\YI+Y'16#5>
M&#K1JE(.4_/U-4/5&#NJ:!;/V7'9B;-6@XO"9W,>JGUQST\6I-LFS.P1XF#;1UU4)TZD9LG&QC*,IEZ>M>_UR8%IM)EB
M<)K21SE '2T\2K,:;3-1ZH)7 Z32Y?(R:*4MF\+,NRBY.93?V_"B(==>X)"X
M /O013Z)PX@D&-NPB\C^5:HA-2:.85HUMX;DQQZ0RA%F,62 UX-$ H'0XNPPX:YH&$U[VY^\&6$" /)BSXTBAP:! URO
MGPZ!0&H7NI: \\Y"J)_\J\?MT<-C9HS6.MTPW]&_(KZI#7W)V[X,TNE-27R0
M2]4O#>Q[GQW/=/.Q%\+$<2+;L7W7=T)">_ Z?J2+?C(A#?,/WO-CF/_1+H=\
MUEC[JS;D29D\&GJF_-4[%S;P/$ H''DP"2,,:7]0AC'<>76FX\-9IAZM0AKG9;E=[YT.+WGNVRUP4[0
MS]&8TV^E7L#5^A;#M5J-&M'DC%X\RR33$:>8BD\:^ 77Z\/]89ONLTW7G*DO
MVHUL'[O$Q8E-P@38&!,4]8M20I>L=MDM_Z4O6L"FJD+H^XR;[_.%8/%VWE$=
MQUTO3QOTE MA- :-&F\$C*>% 44*8VI6GK%4C9YCRV?Q/!V=H#AA]7@IRMQ?
MBF+S1[[=7M\_I'G)0AZC-__$=]F]9C?MU*2&5
MNE1$?W3#KZ)9V2
M YY^DU1A-D//^8D) O21,VM99)'4?H8:*@YH;WFM@I! AX0$^TD28S>V(]RM
M! Z3((D5.KGZ@O](?5N-EFMN9^FQ>8KVU4(;53H:4\*%L"S4:;YM 2^'&&KEO5AB,L^\]Y+YBU_HCNZ8V]$5O%KE!Y $<1A0$EM#WV P. 1!O 6F.:JXQ.SD9N=397DW&EUHG4!1P%?]G'
M@2_+2'$LX^LSD]K9 ^2U^R=\VW+VQ\G9S66Q8W]3$@0 Q_X$8 ![J0AQY=:C32)(,/C!Y^R=?;LB/0GB4A>[SQ)
M$8D!>'&E(P=F)O]\J=2,[GB=[Y[^8)?%C$?;ZO!^ .:3%NTR(#]MRL\OR)[>
M;_GCU,C]P[;XGF6?L_(Q7V>?[](R2](JVZ#B_B';5[
M_!_9YF-6Y@7[N:H[P B$-H0@#@/HQZSYZ0&/P.:8X 2%?B1W+G
MA75I66U>5IW8FZ\\,^LTM2OKF!S_Q6-Z5I.?52^ 7.4T
M:_$;/EY.8PD-5&'SOA'+J--F]N#L^7;SE8C<)1C]Y7AO6R7UL5'4I1Z(4!S 
M.*(VL1W>#6LC.K'OR=^!H1;'< W4WN;0:[,Z<4K'VHTR5*P.F,I+.9(KVVCP
M2HQ7/1I@J0YGET%$+9F\>A^&#G=&TJD]9HGX+K!=!-W(YF=TFW7'!4#'<_W084P,[!@$CD_ ^LS!ZS
MW4'V"C$%L\388]8G.=YT%M5JYCIM[;D? UQ1]VX9+!FA__EY:B.=$&7&IZS*
MV,_>P=VF/1")XXI\XSW$K(T<.Z[+CSZB,77XG#: H=]%II!*]<5TQ#,^F=1(
MK*1U F?"DH!I Z#2:?DRT*4UH\+<"RHY
ML9)MV7^]98'?I>7O&9_5>1H6>@BCT(,>2'#D^L@/:-\2(X$M-9,^.ICIZ8ZZ
M%< _P_M.G^3LQ&@W!2<:IC12GT27LF:[;(RW;*P<'.?[W*^,FF?/V9/8SLP0-CU[=@-$/59,]%QHBXV\!.I
MRPWT1#0,LE9D_1&F3V1*+NS78Z\8U*9W5HYLIZ8^53@SWH2,&UJ.K-7X98!.
M7JF+=_VI\8A&'$F@P"BV/7]D(((="I]ZD4R<)Q:F^GVX)DE
M#A8L2[X8JNZE??W^9"G$Q_1[_<_PC[3<7#W]M7JT2?UB* !LF(<$00QHF
MD$"7D.-P!T0RU9*FD(9KFR]\KYMTSS+5\92(N2CRI^YG>3U_>5X^SK_EVZ;__6
MGD25U>CM-U;1Q(T]ZE#7PP$F010Q:QKR]F_TKQ:IUOK/[.T
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M#?T#%N^3!)9MTN=*NICUNQG7M>.Z
MCBI?D>%@BD,/(@]X'@E\"'TGZ60X-B(RI^AI#RY57>94&.X#<4'6WP:/+IW:=KU#7V8=-]O#.1;.
M#SK!\<)\#6-=Z@6Z3$ ;R%-Q9&NLLT8G-'IQ*\?#+K )=6/;Y1>M(Q\%G:@D
M]*66V!N6LM !K*D*PN DAIDRF'X"0Z#^7O2?JHB<:,Q%QW]84H?E^#?E
MKHE""?P(G1"5M*2Z&\J^B8*O!^O;//V:;^M0[_Z_]KZN.6X3\E7[7,QQ5_(W4HBA&RWC$22Q9Z =42<
MY;6
M+U&WY;7=P',P(A CTPTL:,$86AUN!]GA0I/MB6BUS;Y9[9=7K_ND(O_+DZ9_
M6JW!NU/GV9,3[43;&E>(IC.QH7=&8[DARR&^.%=K^\YB5&0-&?Z#,J(=KE%T1T=#&@0&M!8LBJ/2R09C8(1Q5QR,I#'#2*D=[XMC1;_06V)LAZ9P[XOJ\=[%
M3>W5.4XLX+SA,VJ T5I@,!/>4QN,@1'&,RLN%QE=QGGA\56HA_ZLH(VQD[DV*Z/O,CV?11%0=Q!-7'(
M%<07!?B3[O9\F%IW=IFG0/OZ5,T#L(ZM'Q[?KWT]^X&C$.VBC\,OMVJ=0(&Z
MA>I4?RP0ZW"RWQ[W]<>/Q7Y/8SDK#KV!#@@P :$#2!A%D>=801^C260)E;1=
M'JV.*/BM3LX]-':Q*7II'$NF?&5VGV=WV3:AL^_C4/XR9E]IO-NS-DJ&_=M_
M+!;JICX$VN.>!O^O(0A>&0-#C;^8J49KZ\\;$\_[3D^ G/G<_'+1
M[ 8F&=^I36>"6ODBJM'(]RH4GG8R%[C#JL0_/ %MD>=A94%L&0[>"EP+>H1C
M0_(;6P<
M"XU71O=$=<8; ^N-D_D_]P/%O2F[1O3J]W!7_8!=WOE=P&GG-XK7_/0LOJ^\
M:G**GT(!]&0@WK#D4UI5^R;[O#&#. BQ8YG0C$R3>+89L /?F-VN)#:T-GEZ
MSWI.?9Z0R=>/EDM@@T9@7QG&+;)MATS.J=D*:%&R ZO-JI-\
MMV1._1)*\9QZ9Q"W+-(?X$FGKTJ\UI51Y77BSRU9DCC0DE$5\PBO4'W:?DUW
MQWUZUDI< R8)
MD>F/Y"%M[^<[)K&)YT<@#B. 3$)12,/C_OB*4T_5<7V'S>/
M@ZO+)O$MB#P7F0$BGDGUTPJ[\: 3"Y7:FSZ*ZFP- V04-2+!G= 9S/%IE![2
MQ,2IPV0TQ#6HA*LER!&E-_D94:/YG*Y#AB384242PF-H)L\0F,
M.J+$1*7%L9",/&-A1#JFL;4.N9B(O9#QO(C)PL>TK [9MDIWM1#]F6=5^?'3
MG^V8?A"X'G% B $.41B%,*:K.@S,,+)"BQ 1F9@WDF+9.(%KU,(X,GAZ7XQ1
M@D9>%#G$KN/%D61+H>+1TYI4_]"7>3"!!SQ$W-"&@&!BVI;I=.^]B2*A<@G:
M0"V4+A?> /PPM1B0/O=JR:BK\:R<]+D2IZXQZ?Z!H[*/=C^O(R[H-UMN[GPJ
M[YJB#7HHCGFU 0&,'8M&PLC'L4N1XCA3MVXSWF5T#RNXS658\K+Z]F>;=K=&.P1$]14@=^L6"[92[NG.+2_?B<*QM^L"52M
MYJ69@OWU^S"9 >XTSJF"T^>BN\26/AOYE<*%-;,L%_5M)
M2""4U5D"H.K-A)--1E48A\XJ(V_?2/95]GG+0NJQB:+=;*;(1>T
M=O<*IHR>>[8WR&!:VYADO&-&_<;^^6>9,:EPTEAJ:EO<'
M1UG)*'VD0MK),L8H,$7;^[B+$^H3?D]+LJJ
MI#\39>669"8@6O#&(4AJYC$YI<#F"'7!L5BX!2'L:%11I+OC&0 G+M\
MWT)^&P]//X7+Q$+3T)XKH[?HRJ#XC"'^*Z,WZ]G7C9L[H[?,J$VK?[8W;NTN
MYZ[)N'[73ZNZN. C<+FFHA+2S\PR%O?OXG41%S:_6,E[)K90_EN2Y6RFCK7H;.;ZNF6OF$5^>ZP+*WI1X'J($(FWPT>.K$YH4ZA
MI)&YY&5VS4$&E+6)V67E8U$F>[8I]M@"KN<(:0=8; TKBWZ^5:E.RB<%7>_5UFV1T
MP?=?64[_I$N)M*Q>Z/C-791^J3J5OCVD#]GQ8>-',;20XUC0]4$,7"?$/8[(
MCQS.Y96BT57GWXO\?9WARUK01OKC,Z9@6^F;9P4>>CR^N2::2=
M7W@H=L#B*PO5]A6Z'F7!3;3M]M"L79X#Z)8D%%H+H+S.OZ5M+G43QU&(B$O"
MV$6F:T% S'[SVO>),V&MH B)GK7#LW>Y7C?42-D$]R$Y_".MZO+7Y:!@1IX*
M+B-4>8ISLVM![TS;SNH &^^&D']CWNE1U[.5#O>5,4"N>9=J$KMC^U!JW;6.
M]8AJ(U_N)>G@5+BV]VF'Z^:NN\^_(39V/!@[Q(V1@V)B>_ATMBB(N=8F6KG,.@XQ$CM
ML"U4ROP<32,2*(?>=2B=)%O>*A$N@2%>W:KWV4LJG'%QB(KCE^KNN*?"VJ2_
M+8QBU[6=F,JB@^/0C]V@/R<6BS6[GS608M7JL=6%5W8M.B/9BFQ&RF&43ZJT
MD2F8_WC&8P?,0)=X5*)38QR-R)04:M>A4G),*10\>H)SJS-MR-@MC"+O4M1_
MYHBT'L(Q>%^"23%K""*=V]9(ZO9_U[ L1>Q>==5]_=
M)^Q8X.AQ;0U^X)R4:>=^VASM;)_(!J@QV&&[,DYP-4_;!(@.KXXY73*+U+Z>B[YLCEY^1'RI;*]&],OYA1%:>CNE8 _,!U26RR\GU1
M?P71\D*N#M?2!E-^\+#!1Y>L]8GJBB$4D\7Y?/))H58JQ>2O9[$]EUZ#JY-Y
M])/1XM.K=Y?8&M$X:42O0]?DF5,H>B %"P34]=R3,MVQ(@4IU<]ZLQ*[ )D1
MP,0%)J+/!(Z\?NX96(Z0:DT<0K%6U?7?WG]AL%AUT!Z78*NGB?3QB90&YL2D
MJ0;4DH9Y2%-32>$L+2,:-)/'=2C/7"->UDV0P0FOREP_/";9HE6D57]_
M#X8.)K8'7(^"(# ,Z/][ ?=#H=U1U5BT[)^6; -U2X64)8Z^%X=_L"LRV^0Q
M8P7]V,ROR-/NM$3!S#.21@;8%_8GPP0O=ROW(Z<>K\B%@BK=(C?>==A_8YZL
MX0^O89^<-3#AJK[8O=2][)FDC^FZ)G>N1.UU6?LR!FAE>7IDZ+:*/J;;-*N;
M7F]"SXI=0DP,8]LA"'C8PJ>-;1).V+&1,JZFDXHM,%:ZHT4V5[6G<#Q5FE7Q
M*E-_>XH_7J98D[B^IDU(06>POE:9G&/212V6&3AQ"
M$\ 4A1,"A(]TM9"[6Y;#I?DS7F;JEV:SQ4^.=Z9JHCZ/")3*COG
MD,%5V&8MCL9]HDD_>5@5$E:I;EJKXLHU\J(4*^!4;EYUX]%)+ : ]=FT(9W%
M.L"*N\%A',92-'G2R'HT^&:0 561\+Q,L,R\IAQ2U:!+X+Z1\.#D%$
M7*?#95M0I'Z2/E":DXZ/#?8K=M>%H>\GLE>#F>Q@1XF[0(4N'XY+[\K\)DV5
MKP=)S=O.A:TAS_>44#_G_;!B+W*7'5FA-Z>5(='IU30>B;\ZG?9XH5+
M=-M;+/5RJ.I M"&1CT(O)+[E!780.0B1'@ )XWA3L!*]:QUE%AV.2F08+]!IZCH@3*RZP,KRT:J&58B"?X,KCDKL*2O+4]B1!VW\>LT/Z
MK-8MG22?RMVZ9HR"F(( $%LQ"&TW[.^TF9XSI2JWQ-'UI(]P>Q2Y3A;MLNIX
M$#W9(9-P/G753?+$ K)/?<.G%F9?@?NJ*<'=).86JL/-3^*(@BKPQ#J44X5A
M+ZNOJ.).H%[4-DUW)>L1SLJ"TR%_3RI61?/IYN[WOK3FJ:GXQ@%AZ 66A4T'
M$&@"Y)TN <>!UCKXE_*HI_;%>M04A6&35[D"W(W4SO[ME]GL@QV%)LHPGX0.R0.?2KG
M09_>Q:8MVJ==]O":LZIW?9L^V5G563Z8I:*ZZ)>JIJ=^B>O-JHX0*RZP,KRT
M:J&58B"?X,KC\BJ='>;'*J<*M2?.:L7%F$3
MF, Q+0?;V"%T8#?J+R%C3ZB$E_3!M68*LA9QG2=('[ZD!^/(4$[H4R+?"^(I
M NT.F),AN!YPW\ U6KQ&!]BH$2^7(.#ADS,_(-4UZ]!:=>:-9 <4\#@I)\MJ
M!-X\UL>&R(_TL,VH^&\LSP$ 8#JC)A[P8U9.MM=WBX33<["31M.JI$6-SDA;
M=',2K-.HG9!05<[JK 0J0V>T\(P>WX+9TG-T\69'9U&]/KF;:<]8]E,"4_)7
M[)O PL""Q')='[C Q)8;].7K38X(('M!\2&@(YI
M011ZI(/@$RBT[RYU8 UST7>[0<& ]F)C)DU-Y;J!3TT7\X"8FKXIF5=&@]4X
M<]%4KYR*,#DBITH&!EB&GB$Z=#XY]N'#^.+>B%@>/0
MOWT7QP#V.5(3L /VU1P5%1U/[$A]-6&K_9Q"7AE?TOLLS]FRDC56J/VTAA?W
M!7W";^Q4^M?\JDZVB>L=G<>8W)?3!Q $OA< /PZ)&=LP
M 8CWQ??K_*XX/-0E OJ3'"Z)?#? =NCY<10C!V.OWV&,?5LHMR-K3,5IG2%,
M8Y>5VWU1'@_U]OVV.\E&5R,];L&C:]*8YUMX+$&ZV)KC&=^U-C*,Q@#D8F?2
M.,D;4479]*]#%Z5;];(SFQ+6^.MD4M5(R^HVR78;RR2N2Y 30-_S 0D]B/L=
M2>A'6*R9D, O5JQR'1;1"I) Z.*^7CH!@=!9IPF_7KD,
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M/1]!T+YV%/UT<_?:O=-<J>S[<3Q^W FJYES=29O7;'BD[XU^S3Z>N SBJC-6MD87"RC?W@
MR;KNB&MMW^)!19G#N%8/2STDZPA/*^#AS;7&LI[A#71QDAWJ\TO7^>.Q*IO6
M;O_WF.15QCH;?4L'V_GUB[;[email protected][GAL2!SF>;6(,0XK#PU:$?01=H0 F?W3%
M@8D!-FK$1@/YJFV+>&4,83\_%%,C?UN5=/F%+_XLZQ*QN*+"&TIBA#"I(]JO
MSD'KT'2%]A6Z'G4Q#0Z3/:L@\^EKFE8?VG" ?F3E!HDZI(!(.4ITB4-M6M0 $50C05K7JT>BAG HTB1N+FG2
M?;9YW:TT>=VM]/>Z..;&]2S?CIW Q6X0V;87$T@_^98/;8O F&LQ*GE(Q5K5
M]04F;LNKZ0F,CX=#FE>3.CY+)7U6]L4J\OOW]*URR^O=.S*VF+1]Q;Z]!@Q3;.V.J9RBAWNO58TA'*$A=]'@H
MCGE=/'3;(S7V4Z>G2AS F;I=F'O!G&Z+UAC O3).@(UGB*_Z.>[;MVW49'O%
M21U+ RMTT3JD5ZF%+Q/'RMGD+QGPC0Y9')ZBOE30Z7!5[+N^!0,_"$& @8V@
MAFV;:02AZXG5>5,POF+]&IXDSWK01E*CKG<'[EO<4Z\%2'0%G^HM
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M2>Q;EI@,21]6]F&Y3P>$EW=VE&]?V>RCH[;O!4W^3R '218X8P B;T"?)@
M>!K!]2(>29WR>Q6K90W':/ (W>&@1&<,/R,R<^A95C]F(2_F/QS\;WWSR]N+4F'DF8#.Y:(X );M
M>\@+^E]O X_K#(_P+U7\OG?/L]!-27%F+K_HRD@1>\MY^9#PA@\M?N/UGD3*
M\N_V--C%S(>!^WXBR7<%_EIDV_2Z/"3I_D.U^_?V>+<#0M=U8QL@RR.^&R(W
M,MNQ F+&/N=UQ!DC*'_?.V1& ^W*8."X[[W-X6YO_[UM]QEIERGL=!R_3-.++"&),(VMB!4="-%X:>*]8+<>HHJO-225M7O:ZT.Z5: ?/Q^2
MO&1=)OJ"&&9D^1B:P(R\R/,\ I$#NH%-P:I=$H;3JT.32N;(()53DO3R.4N;
M%JF<9D/H>FZE![W
M.[%/A"X];.#G@T]CU% A)B44PT)5!GKK1W1"G*%UR,$$W"]O
M&4RTG+N>R;?TP&I*5VQUW;2T:<<#$;)=$(:NZ5O0CFQVJ;4;#P&QHZG31U'\
M\C-@[WMD;4\IP=HETQGDDP<]Y(G)Q5G>EBI3\A8_(X(RG]-U"(P$.UY6))'$
M#$=>_,^4V3> 9\,E_\YY*S>,)[
MM@&%M =E6L60P3FE#WV1$F";./2!:X6AB1U(L!7&_2K1PD(3NUD#*1;:KW+"^H
M)CY=Y_3]3LOJYGM.W_.OV>-M2I]$&O+NT_#I-F&E\3:0Q,AW @?%"/K B@(;
MXQX!$FLC)'-Q'Z.H7[*;4*CU\_S15&\L-LV#
MDV])MJ]O";/K@=L>]72ME, SGT+JI5A,%T_8^AW'JZY?I&M$^^11
MO0[%DVA/H>JA%#PX<;[_Y>% G\J4Y4/"I].WW"9/[$OH>W+8->OK\N98E562
M[V@4_^-8K[4#V_@4JR>ZOS^D]TF5&GF-
MA[WE18.U4375=&8YGF R:R'3-V'F6QAV =461!^U^>=EG8$]QS\'U2EC=W
M?T\8LNKF\#&[_UH-!M^P:A^6 X(@#ES/=R,_MJQV6!2[2*C^WNS!M,609%A_
MFW0@SZ?7CXJ(8?4\R2?E[$[('Y5& ^K*:'BFN!II7"#]3E#ZMFLS&JB=)*->BE[*CB3F4 Y?2U\.CN!
M],P8X#"V?12# ,6.[;BD@Q:2@+=0D#Y >O2SGO)1U:R^IK6"?GDRTFX=5S*G
M=[N62G,M\[TG+]VBU7&J,R[#?PB?=*5=YKM3?N9%JUMU)5]FN5=B!N82N3.3
M,-)\]_/D8>29/"$5(YEOWK7.[:'8INFNC"EC;$*14#;/8MY8R(21!2#T31S#
M,,((Q/WX.! ZEBEO5.79F@:HP9XH0[CJ@D1V^58YRQ K%E%?<-JB--Y08KT+
M'6[^1M8Z\GVPCN6. KL*U4\O]Z*G/8U3QL4!%P\/6]*.'4\_#N 9NZSVO*1W0:+G1$8^H8JL\ZUK",*OG1MVQ\]Z6!]G867DV1P?,$C;Q)
MEDXDB#7-O1DDXT-MB#
M. YAY+LNM$S7@0#@#@#%P[4_IF!8Q2]8C]2@@$1CO4QV^2+_0L2*S0-.G+;R
M16$:#*?Q,65O7;;/:HQ771T(O4K&S^&(N"EPQ#KT3H5AA?*'6+#SOFX=SN
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MX4O!/^5>?1Q'X?3
M1N.TXV^3Z;Q\VFW,\O.GVZ1PM?AI-CE6%'*?($GST0]]SP4KLGS'-VTG G$$
MZ4B1V2W]K<"-A?:T)0RW;!;RP]2^+3*(GCD55<.QU/0C#[UZYZ$?.%JZ2&1\
MY;/0"0;Q3D*G$BWS:&)#8ZA"S%T0$Q5%.+(([;;#.';-K:%*GT(
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MWF=YKKTDUCAUT]Y*$<2-(?3Z0>DS
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M1GZ,(" AZ$<*H%"-\"F_7]/VCF FRI3"%R'
MILRRX(W=D>ELB*K'Q@8 N::+ AS:GN>;.'2[!".[3QF*Y_JX?[66K%Z'9K'\
M70> XR7@9FQ=3SX_[#<>=T&[19_Q-V;#$(:!#1&V$;(\/_0CQ')\S: DB(3*
M7,TN([J YO[%&I;*I[=HB46Q2&CF)6M=+P(_[+="LYC=
MW#FC)#O\OV1_3$^'?LK3J1_,MMM<0N>[KN,XP$+0!VY@!2$Q,07@">7B9XVD
M.C!3<$:-SO@]31BV\="[email protected]+HV&@7SYR<&!\@6/&TX2M18GDT*P>M0'TFV
MO,RR262(OP[_M[0-\]=YE'YA=R!_3P[_2"MV1H[=AJR>/J5T7IU56'L[8.-EA,&$(6.:\7$ AA9*/*\P#-]$/B(^$+;C8N!5*R.)QN,$WPQ
M;5S.?WRR^E.X3DR1!R:Q)LO,J/IT^,";C5T#IQKOV'?@K@AP8UR[!_K;.DZ1
MJ_+42$A8_.%81S19GH97_2R6!B36$./A<5\\I>G'=,].9G5UE2DTW)9/#E'@
M!-B.4."!*"0 >'1^CTP<>NR0J6T*]<&8/9KBJ'*;/!V*]L9*VH(U#@W:B0VP
M)##,%R[TDBNF^QVV]QV7 W17!EZBC/M%ND;$5Q[5ZU!1B?:\[&TAF2F!8DB[
MX[;Z>W(X)'GUA+;;PS'9XWU2EME=EN[ZT1WBA,0R$?%8X&@'YWX0NHF
M:TS%&E?CHJ_@]Q:GL1UM1J>67CYI6X)9,8%K$1H=1*/%N)"X<1(V(G&R*5^'
MT$FWZG5)) 6L<=3F_)3LZ]ED?:_Y<_(C+>E4ALTXNQ%AX,0HL+R8Q""B.NM!
MS^E&#(C%VQ9[]CB*Q:W&5T_?BOJ&=\4@&H\-1NXRD_/9'-IO
MR=?HC!;>94&33R9WW4ZMI$ZKW3F3W,L5/"]Q<$;S93*W>"5/>984\I\KL4EL
M/5P[73LS-&$#IV/V@N^Q,^L5GK
M7#[Y)JL:J133]8;%;OJ__ I\G*B1N:DDAM2PWRSC47(%5Q/
M#GCM0?9SCK91H;'8YBTO@R,B*-T)Z]!!^6:]V;-0*F_B:OA:DU\  -BFLR07
M>8[M6F'@1SZ$3:VQB 0V$.J<('%8C8J8/)_$3)S#*/>#J&IJ=<%TW3RS:EN1
M<%XBD4LZI7EB;>(IS[ WY5,R=]PGM8^'/*N.AY3.8./L!_M4MCUN ( F<:P0
M8=>! 00P, ,W"K%#+(M=5!0ZICU]&-5GM#MDM1S>M=@$CVC/()%/[33Q)Z9N
MSZGK8 GWL))T,/M-AL9.9<^G=1U2)<.0E^>Q97'#*T4?TJ1,OQ;[W?7#XZ'X
MUMR5:$?TL1<#D_@!C")BQ[%I J<;T2.>4.6#.>,H%J,>FI$-L(F)T2P:^=1(
M%X-BV:_T%,)2]T ;(PB%W;I].Q;JS0B@+.@Q@S1E L0SVR.K"7+3;NXP)SJ+MX
MZD(3:V+2[5&OO
M"\S+S^+O@!PK./L"B['"NS+Z/=E^S?+T\#1LT=F.& 0@QB;$;F"'D>-9?ABA
M;D33C(2.O\\91_'[T$-K+O:(=6V7PB/?TD@7A6+SD^?L36\W+F=M-,+1R-I(
M!K/K6!M)L:20_]R)B1*N5?"X93)XG=\>BGOZ /;+,0)<^G]B!=BW'=>&OH.[
M(8$)A%1IUD#*5THG;.PZ]&.+3DR7YE'))TS:6!1=.3TGL .VD#2-L32B35+(
M78)X'=(D
MRYC7-_[D<21PSOKX<*QO5 \;K=//^[0N0)COAIU5WL2X(69HF2B*71L$-G;,
M,()A"P_8$#I3V@GIPL;U"L]O/'0RQ]@-[!'31'T.XU//=3EIDLX.'3.TXR[/VH_=2G#"BX-K]O ZMUV_VZS/^2_ ^>WK+.E* "'F.
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MZZ@ RT':B.C)I'P=JB?5HI?77J2SQ9UW^Y9D>Q918(G<"VH]CWL1M .W ].K#OBNB>C/$TSO"2#N[[N^+POJ2 C8=38>=R8IEN
M*:1SIL4T\RV8\7I-[Z!*]M*S/@[NQA)5$IE?AP)*M>AE>DDZ6Q-Z'IRJ&H9/
M=&9#IS7;ZICL?T\JAN4I2JKTQ27$&$9^Z$:V;_N^Z9DP )[30:(,AQ/[&L@'
MHE,SFS1@NJO+L#;7"%G;DF]UVQ+Z#>57^@WOZ2@/]3_NB_R^^2\)TJK6FWR:
MNQI'BHGQL)/!";?QY' =HJ['U+=;"JCFESL!
M\#4YI&%2ICMVK#_-RZ;O':MZ>U_?K J?3M]RFSRQ+R'6L?;FD7UC>7.LRBJI
MN[I]'+2S=;%O^1[Q(X]$,8 X!F'4E/D((LL,N([F+PQ1<>CXX\A./;&XT,(4
M3",LY#?.S,/Z72:8K&!HWW]A<(VA2<; )A8RAM_7VF74AEUU;J8?3L8MVL);
MC9/&DB/+/A7K"#Q+D_ R!;,&GRP0K!KYW5A^")T8VGYHAG;H0.@0V.&,("3B
M?='U8Q11O?5M8:H_4H
MFJ"S?SDQ$[5?G8Y-\@2WA%5T+G]=EL=T%]&9?GY_V[R1]9M2_V,+B/Q(#]N,
M@MV8)J"3?B_PO-"+8M^#A/1:B@/+[8YVE,]H\P3D[
M7L@%B\]\.WOJEI&-T9IC@S#S8^*OSHTK47>%!KZ4;]5H!ME79YF] )'!O:$'NQ!8D?0N!W. 'RA*[TZT>G;=>QTRRV(TTG8?55
MCA/:Y:;:$QRJ9Z*MUI>+)V6:KI6-93]7@'KE&(4!:OI#\&L$J!GV2PY0P7&(T.ZV#$;:=[7?@1G"<>OXGC.E=$_3*WM_1:&
M45MO_(6^E/79O9_W[ ZG=_6L^F0_:K]&U%5)D+IUHQI?KBQN;QP?NTX04[0D
M#$@($ K-?AO*C>)%3Q#-0J[E7-'-N=39A1#^UG&C'7VHDD-I4##-VE7STE7:
M([.J""_U.?DYPOHO&(T]W%N*PG".M\+B0%
MXI4^$O*#<'_;X2>)X=*?$4U1?,G'8\$X?O92Q:\6R05]JS*6
MJWK,?I%HKHP>V?%)[='%F6TZ'
MV3%MK25JYR'5?:'FD#XD67WZ=CNHD,U*F>L-IC/]JR>$ZG/MIX#E!J&%T9P2+!=670?XZ0.WZ=
MI;?^60^3SV./EKI(K->_E^+S2I^V%47MM3)T+I:O%:M0A/\C_8ZVV^*8LQZ(
MMXK[ MRCK8E&+0GV;[2NC 6K\U?Z]6$LL449'
MXH0RYZQ#Y-695VAZR%_*Z_!)^T __>>_=5^A?S#]_\]_^_]02P,$%     @ 
MXCJD2%A=%F":6P  @'X$ !,   !G:2TR,#$V,#4P,U]P&UL[+UK=QLY
MDB;\?7]%O;V?JPOWRYSIW8-KK\^Z++^VJWOW$PY-I:29D7UW_[RQ^??U6?S;MW?_F?_^.__?O_]^NO_T=_>O^++<>+VZR8_V*FV6B>
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M[<=1FI9OLGD^'DV.[?JKC74FQ^#;NVEV$RO$.>9].3M6I'J-MR&GS;[.=W?V<8FVOEAKTGNE8"O?7[L*
M$5D7IYWY_;OBJIS>UK VZM1LHX=^E$__,9HLLM_C)!ZG]"4I=G=M9Y7.^G38
M^GQ0$YWU^=%Z^=J?_YC%A>AS?EWD5W%"+.9_%.7763;]EA:E=\7=HN:"WHV(;_?M[65Y^SR>3RB=Y%PWEXCJ/GU&SV=Z5NV[M/GIZV&!IVEH?
MDCSP6-V6TWG^7RN&/BT4*U?MM"+PD1_M%QW:5&O^IJ6B+5[W3(:!WRJ
M7PSZ(\2P6%!G\CRLC39Z_:Z(/V9?1C_V=>V5@BU_OY;VMY=OIS??XG)53O?N
M@;Q2L.7OUT1C6_F6>U.'O%N+M]&7WT?3/Z.$L=G/V7@QK;&1O*M&5STZ;"T_
MI(6N>OQB^4S.YRRY,AM#[N+J\TW\TY=L>AM__;XLKM./KS766.HN>]$#ZDKW.=+"_7AN]^Y#-T];'QVR:M@[+XO/-:)KM[MC.
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M\69K9)+ ^=M?XO=#C5J!,B"D=M)0[K7R0DB%J)3$8.OCS^"IE)-TDZ"6I)R_F#Y&T_$+
M.C^MN"[QV]TR&/+7\4T^N:QJI^LC'7"D/ 7H40STVGHONX7W84AW-VBFY>5B//]GVC(IYO=K
M*,QD-)M%7RGZ=WLY5;.%H(DCVD&@'*,8*T8@DAO1G6C(+/1S,*L;D'?RZ[D?
M?9V'=&*]F?N7\3MK6;>SI$:MP"7Q2D+FG4Z>L^T/[Z02')E$AS*)0TVOU86E^)#3%CS2A%#Z;4BQV(MT"I+B >AG_S
MVA[W6W5OG,0P#FAK%-#.84$,MVO_TCG![$G14"](M 2_SC9'_48",CAB
M0*.IA"G44EC!>06"Q$C\% Y/;2:4/>'/^W9QY?-B5(SST>3A4FF->:"5]@.%C'.I):=(\D@1Z("F$L9E 0) V6EV
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MWCJ!4@"-B/_'C+"(*ZFJ/2XAUL7C.V%@S%.*PL-
M<0K&4::1 K(22(F]L1C#GUM:U&G9,II]T&-UZ3)U<>OBL[5L,-K%Y95B:[20
M2'J$;66"RVB;G\\VRC&J?,Z*(U'L@13/;K;L)<:KY0,%A".D-8W>&#* 8@KA
M@UBLX^SW#=7SD "X7A  '+XO+*'%<$
M50(#>D:V2@LZ?\ZBMM'M@4[O/E[L79XV98+@'% :P8[0:"DUH%Q4W2=>N/,A
M1XNJ+-M!LX_XQV_95$TFY3([^NJ"[UYR;*T3D%68)G,,",BQQ58_#".%<,.H
MQP$:MAV2I2UT^XA[_#Z:7GZ)7]MCUSPI%PR1D?01 DR90@>J!/Y]EL"&7GMM%I]?!H:=.?Q11)=^G>81XSSJX
MO7#0SC$GK1'1^8S3/A)0;]S0N!(T/% 8($U.J^"R947T, F^L@2\C[]X-\]N
M=RV=NZJ%N$ 8+1"%6H/HLC@3_9>-B0%-0W/K\!L!Y[.2M@AW#YSZ/2_*Z?)E
MD*B";#:_^%Y$5=SD=Q^S:4K?-;K.]/WJR9T=%#N@E<"=5X)(HKSB L5ABHW9
M0*!H0\8-<'YKAPAE7TCW
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MT^[ W3H-!"BD4<)9&X<-($ 3N+GNHAS@#8TQ_K,[email protected]'WZG[SM8&/7,1Q#3:$G/7;\J
M[HZIKG8; 49WW4+$N0#&T$("6T2@@"&@! *5$$%\%(RC6.# #@C-G3;
P=ME>.VJ%BA1T0G!EFD&$"/>I40':R$19DV/PG^60X 6
ML>TTB\.2[?/5Q?+BTI3+QPFRXN73!/UD;MC1G8=TR-!S43L (&NR9 4QP
M)"P4#N-5CB#%4VZP/5P_(11UDL<=.D/_5%/#[I>.SGFJ,,)S2CWA4J6Y6V(L+)4ZNB9&46I.DXGJ?3::
M9.@X1%20N3@X+#OE*-(N0/*/T*QUIO&P?Y%.-[X=(
M'+^81S!^SXO\=G&[%*FR;'ZZH<\$ IQ:"BET/EJ$R+IUE@0E+=:GL1(N[K(T
M$Q?72]W,GJAKHZE%'3 .;"E$/Y=J;#B ,%UU8 JY:!DS"@!4PN/SN1C?$4N>
M7PCH%/X^[IC4$.!3EB) HZ)39JO9>#3YO]EHYQV4IFT&)#B6* (!,./66N$?
MU$ B8&?#SLYXTX"?;:AB($R-D+TKOGPODP2[]E .;BO$93\: =%X0%H"%GT(
M:_3#! $;)B8;8 S+:6NTW#06C*&,ZW3&1\J&
M.CCTV+9VAS[G/[81K$DS@5K%G1(XCCAHO+/$D'7\OE*.H8:7I@<8--;;)J-KN:[TSD9K-9>$RA@)3K%JB'[#@_!Z_P=K(&Q[T#@3W5"<;KW
ML$YS^" QU Q(!IQ%R$- )%R_ :VHY&3?<.CLLNBR=XO1Y.+K)+]>*OEAY^_W
M4:18/K^O3I-J/Z-U5+LAG
M3>+D4"RO(U9/;F27>C1)<5F?;[)L?I+I9)-V^=%C'Q_+51A:C5FD3O7 B<;8
M*828QE8KY95?W1GQD+K](3W="*YFLZS6:SM/"P;D&+!Q,=+$*\6( @:!2IB4
MWN]LAG>[JGV>3.H84/M(.K;LW_H=S-HD>58^&!%-&9I,)+=\,Q:@=7Z8*%9*
M'G(V7&FJSE=9<1R*?5R['LUNTHH7_^7^F#
MU*H?/$VH(8;C^@45<-2BC=B8JO,)A#Q2Z\_MA0[ [2/+SFCZ9S9/QLOG;)PL
MFEKO@^^H%;QAF$6I3#2\A" >6Q>==^0L]U8JVO#"X@ />MOE3WN0]L":3]DX
MBQ1/ONB';+Z?+Z^6#\8[1[B'<=)FW@G*O&055%2X\SE\;9%=]B
MO\KI?>SD#FH\+A:<$%XX'N& D=Z"8R,V"SA#36_/#_#@LUU&'(%A+S=(L[M1
M7CWV7KWU_@2!'?RH43MPS"AE4>3H7"L%59P@-[@I@1J^2\Y;'=IRVFWJ;*K6D!<."(58H"C.&-22)3?##$D&N[/#=:8/9HS+8+9 V-\
M7N3S['W^+;M\%[547.>1["LD=G-F=\4@!&<,,$6D5$1@#1_M8R+E&EHN@S5X
MCV9-JW#VP)N_E^7E]WPRV<&0JD@ L?=Q2DP7X[EDT%-'-IW71C?\DG[X[PZ*M%
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MX881U /A);^2 ;.6#N;30$%1:$*4*C!:CPAORPZ='0X9MTG?OG
M'7#D:#C[X$=97'_)IKH6 &11Q-N1.4VN]<- )70FFO6N856[8
MMDM'/E0; )_$=*G%GUW5@O*&&$VDIS(.N718NKZ:&X6DU#>,Q1VV =,-BUJ$
MN4(3,07S:5C5@3(@B)J4.*0P6KLU5F#6QH% _;RNF64RU!W<<]
MYF<.8"U&;:\4N-941M\1* 0IHTHRM3'OF&QJ,0_PR+)S+K4&**\HH @KCR&(8V:=-REM
M0T3?LQF-!OBP5>K)2S[/2^VY&OE Z60QW= 8-AA$09@Q3%PW..@(@8##.E913J-/[I14P!C5T
MS@>XQ=,!.8X$LX\CSLO+95S):/)QE%^^*\SH+H_6XZ..[SK?W%LY"FRBN-@Q
M2RC%"%.LU%I@3J5J&.TYP*V=#MC3.KR]7)F=C_(BNW2C:1$MKYD:CQ>WBTE*
MQF*SJWR<[[X_NZ]R<%02;:.H7CH.I%%N<_^3(\4;'I8/<%NG SZU#F\_(1A5
M'Y=[!Y'\45,W63'+OV7OBG%YF[TO9RDJ_N+JR^C'[F",0UH*@($( &).0!'+*-<4LL144 8#DDE+(.TX2[BX8\#G]4N8AM0/_#J
M)/GK/BY!O=JS\TEFEUZH1XPQS RE"$A+XI@7VD2OF3F_E_R=N\]1
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M%6Y24UGN??5CO*^\4_O+' 
M6'I31=$XFS&IO&*"P H4 LCYI!5HAQIESX#WL*9$&1Y.2'>3ZZ%<@)1RB8%W
MEFM&XT2) :[$2!\Z&]YTJ>*7;&J,<"^A6_^QF*U"G;^4G[)Q&=?.2?:DTU_*
M]B:S+CX7 '=6($@)C_=C_%DD:RVQ[_<&(W%M2EGRYC_]#C:,KO,*USNZE-!
M$B IYEYI;8D3256/X-'N;*;?TY*K')0:>YCC_S[*BX3I1?%Y-,DNKIZD$][D
M$MXQ:]=K(# K*5/.$>DB_$X*"T0EN"8>=#T/RQ5_B^PZN3U??@X:=ZJC0Z?@
M58CQ_\Z+E'$XB_J]X+ AC'OBJ%=$>8>9>7 FI&](S0&>FPZ*DVWJI)?CC C)+#T 74YM
MN?@ZOUI,JER=.\\RME<+T"A/*28^CB5BO!:>RLVVB8<-[Y8.\&AU4,1K425]
M3'GE-,NOBU6VM/']ES@\9E'ZV/W*-/ZCF&:CR9Y#_D.:"8A)PC!CU" O%%7:
M/ P^B&##G:?ZA[4_]5K=H:9Z3%NU0N[+Z,?R>D'\]RKCUJZI:"JEW9Q\P,9)R0=X[CLH/K:LECXNJ*6S;#U:GA??IH<-ERK?=13[:H5@
M*%+ (N,H BI^REBV60LD) WY=OAEHY^+;ZTHHP>6O;N]BQ;LRFQ-"2J7+U*M
MWB+Y4NHL^E9W913BXFH'\6JW$2PSA!N+B%!*1@R\$)M]!>>;9IJ X%]DW$G&
MKA34!S^+Z//'862SU;\C0.FZ\0-*U?-)CU/.977>#3FRY< U,=&A0S2%T#JN
M9?S?9B@+W=#?AO\Z$=K#Y5[5=A*&5V[8=^=[W!GO0"I)EYS8+S3,HYM3A"K
MQ 1>->3<< \>28 =!Z
MM;%TB.S\%N3/2\\.U#,80_1H>S.PN# 8A&!*E,&ZI_K'CN
M?#R5IOJ)7AT4>=IE?J-D.\&
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MTIYXA"I1./8-+T8.\#RJ2VX<#F0?&V3E+/K:ZQ[6,$9>+1\L%)+'Y53]AXVZ9(&W#VQI+E*OBYG.S:BWA6,D".K?#"X^A8><$AY))5
MHBA$SR=HYTA-OLJ+IC#VQHAJN=M+B*I@@$P !K"-=A-"42#!X$80!'5#/"8;]A/97G8X6V;64T![$'
M'FSN9:ZS*M2)7=]:)PCO. ?8F,AS#3BCG/!*/.!!PWWM 48MMR#9)-)"OA,%]#2M;,'*'9MB6RM%+P0U#L&*:6"$J4C>*X24!+2
M,"_/ &W:]IG3&JI]&"Q9$<6?I-=(+F_S(D^BS_-OV7[N[*D9M+/=
M0D%1BNU<"\JU[#P)TQOF4*O(GL)B/L12#A$@J"4VT<'TSEJ)M=KL'4BE]YV*
MOYTXZ_:)9,IW:R[$>"&5\4'^,).
MZRSJ M^3$ZLQH8+2E&JH,25&0<<,X_%_*T&%(UJLN(/XM6!,/<8^[R?
M0,]*!HF859HCP1B7T3[#S.!*%,-UPPCHX69Q[I@XQ\%[BIFGP9Q3"0>-A))[
MCB3"%G"O@:CL.<$!LEU[XL^XT[V-W/.DTPSGWN+ID\V6TA*8LHB]7<0./\1'
MZ^RJG&:/PKW=CPA.U'!>C*;W[^+R/XN2CF/-B/]D">5JX.R-7.[DJR%"JPD0
M D>)O>86:%&9GH(PWG#A//A2VMNSXX>CE#[OD:Q'ILZ*;/>)[)8:0:>AJ#N9L-1C0?E
MB)(I48R)@TA#%F==_##C-MV(&.+[;9WL1/0)_HG9NOW]U_3L9OJOR8H&F[?%
M*A0:,KCY!T-TU:,2!8.8*LH!M7!CD L 04,_9:B[(CV1\ #^]Z:Z$X\)]6V4
M3U):WBAPNLOPD)VWM5%PR">"P<)Q9;#VFBD5YS6B-]M4@L*&AU=##+48)N\[
M5-90;)5T%AS9,9]/\Z^+94KJ+^7'ILNLV\^&T_!XW;Z.>@FZ?R%+C;EX1ZW@,5, (62-HYQBZ!SP&Q%%T[R3#1Z(
M?7->6GNH]D <-YH6>7&=TL-5CW[GXQ2\F4\6\YT9<_?4#(8(0JB$GILX[V.L
MI9:;*9^8ID&T UR@VR90N\CV0*)_1@/X)O9,?I#FPI<.&\<=@9 D4<6E!I5UUE$0HWCM0^>+7L(]]:VS3K
M%NM.<]G8[.O\Z>?Z24B3OFOSV7A2SA;3.KM6KU<(3 ,C'"3$1 R-T-$%E%1*
M8K"5AN%]5Q_[$.Y+1%3'#_U96[I-C<"U5=1[$]U:;33WDEE?B:<].Y]$(\>J
MM^P"S\Y'GLWFT?4[24:HM@:@QUX33B3D5-/H*7BM+9.04:>1XWOO:70GW+LB
M]G"1YO/8(]FSTD&B2# ?UP,M?.2+9R:9ERNQ@#1-C?8W,_!JJ_65@7<<
MECU86>_+XCHB>YLZ^R5^5/W(=YVYO58\6,@AQ))0S:%6S#M!0"54FE[.BB"-
M-5JVCN0)Z&'+VU%>'$"0584@%**02V$,LD1XR"-&&Y0TZ_P5QMXH>+NXW'(=G'])$7Z;FGV,M\/S->%@X2 RGCP+',$X$DC)]QE4 >V(;9?0:X
MV],R-8Z&L@=N/%U,]]@=+PL'JP1GPB(OA$$<:XK49N&-%MKYW(INT^HX&L?>
MB?%A=+O?ZMA6)1"E&5+ 6HNL(D01Q-AFY06^(4D&N+8ZO\[#ESC]O2]'A1^-\TD^O]^Z7FPM&[3FS$-)2+2OK%(08/XP75+=
M\([RX+7=1$5ENUCV<1JY7,VJ7NY9+UX6#C;-F,BSN*!:8@!#/AE%*X&H!@UM
MB0$F06ASO3@:Q]Z)L7>M>*UX0()$:]D83RVG BBBTTLP2Z&P5?!\;@$>H]"=
MW&@$9"_)G+Z5DV]Y0:2,EW$=Q@)CB7DEC#=-3ZL&
MF"ZES=7F2!1[IL3>E>9EX0 $$=9ZS(D2,GKVSNAJAP93U30.;X#S1G-5[N!$
M(Q#[V26_+(OE);ROH^+/BZNHBNPR]?C].WWQ:?_.5YWZ02L#B.4 (4&]](AQ
ML9D?"70-+\ -G#N'JOSE#GKKR/:^!9)V\Y:7/FOO@&QJ!)DB=RB6@$-MB;(4
MPPUP7KF&%SD.S[;SIM:A=L#LZ7CNRWK;.-T(7EX7V16Y\'J%$.%!QFE+*2+,
M"X4@V0P  ?#Y7/\ AH@$DC.Z/%T:#V''14;3&O+M+/=3F=EM_3
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M8A4[CU](-O"@3?.R;(DY3QXP%3$7K=2,Q4Z3ASM6 =LW;4?(QH+6N
MY8IQ*^_6%9$;**SO[0&L@6N_
M!>PZ4KV)LD]'DW?1!U[KVU_N.#]/1[M5_6_%@O(\(2"F!(PI&:)W?V*F,N(8;)0/:#&Z'
M RWAU[$-L#)/ZEL!C\H'@"TST H+I-"&8NN!J 0!3.SS2X>_9=N%'= 4AD-:N1T6Q7M: %L%#0M/6&(1=6
M**RHA%([8**#OF^OLC]!ZZ07W%DO&.6=H@XK00DA""H>G9&UJ)PU/<U^PE2$G0Q?PEA:2;&E&A$J!8U&E$QVE>%4FM.D)=ST
M^%UQ%Z?TU5/H__]BE&;]I1(>'2GM2UIX<%N!(2(8HSKZ%X1A8 S7= V)4)R>
M3UJ0=HBQ;9AWA'U 'NNU@+:
MN/:>SR7/XU5<@S.-0#TT6%F-Q]-%Q#4??4VA/7DVB_[)\C&01[_:E4T*H-=98]0-S#'%.]X==ZHO<"5ABJB
MK:T$#CH+7?0+UU:!L4TW1@?(N?X,ICX4T8Q[Z.
M:,>?9OGE^HWL:K#MNL'1H+6@C/-6(J@TA@A(AIRC:2Y0#"BCY?G87QTSYKEQ
MUKDJ^M\O^CR^R2X7D^SBZM4__Q$EOOZ<7Q?Y53Z.L/Y1E%]GV?1;&NG[S:QI)J/9;,].ULYZ@G<\C> /B47E*%;ZM^?R@/:,6/Q>P,<023(5B%@NAK)6^ A7$%?G\
MMI0&8[2<3HUO:VR8T62\F"Q__%1.)G':^#Z:[GH+N_-O!TZ0- YI@IRVUC("
MY68JBL[6V[^$.@RR=C=R6M%KG\/HT0;9/_/YS;AM!)U3OH8[%
M:WW^7J//6[H<(Q\3IF'-V;>A,8'O 1M >%S-I]/GH;YM[@.[?]H -)+;0@$
MZ08$< P#F39HC%2:.\P[SS(@5T.JR*Y3*M$O/^'(&IR2!SR*AF7(B6BI6^",
M)S E8%)1UZ+2-,2RK\=Y[JK,%_\:."=3;O]A \MME[,Y]-=>>TP@AQ);XBWG
MWLGUI1YEL-]GV0U^U^:@*V4M?BX00BREA%/'XD\2'
M_PU5TNG,\O>RO/R>3R9J'<7\+K937.=1@E4@URFFET=]>MZ=!]76F&\.:B< 
MK*VT5C+&$%4",\TUE3*Z\,YQ0?:MY2>$HL[4IKYPCML!<#2&"VL4= ##ZA4UHOD5^U]F+,;
M*-1M.9WG_[54]<75MLG\%=EW5PP^/:>JH$*":6 <\<+0M;"$,=XP&]7!\\&W
M;/JU'-2,4)L%98=XGW0&>(A>KF1:FC]/"\7*53L_W42AM?-: 6NB!0J9HDCB
M*FFSM4Z<*.M%7N3S:-1^RUZ(4/-0N58#P6.*2$B2 YH8RMA%>1%!^4D.B
M-B>>NR-=H-['=M_V?G_(=NX9[*P8M,$*(^=<2@G"I"7:KZ,+M9/6G-U):LOJ
MK\^NP\'N@55=63N8X+C^6J<0LLQ1SSG;"!J[TC"U5OU3QMZ/1+JE5:MHGW:R
M>O6,-;WA
M#E//<,0382$0=&PSD8.F;WD/]=CJI&OF85#WP*G*3JUGY;]2.D17U!$DD9!8
M":\XD/Q[B'EE3@RH!(Z0HH$J:](*G $9OGJ6.4,"^
M+C[U99,?I;\M7#@0PQX)<+ !M+MBX.E:&%?+'+U,:&&5J]X+=M&I(&P=N]D\
MOTW>[F-GT?VXRXK9SW>T1+R!S/%H,CI%)+'I^&^E00.IWAN2V;LSXA?SU/V7
MFEN_S!"E]K'>Y\5XG&4IX_;#4PVUXH:Z_7)<;!T5<911A!VCGA,,,4MIP)%%
MZISNPG;$POH>T0G4=5HW_151/V7IUG"DR,75@W3-V%^W]4"04< K#;T1#!%N
M'-&5*M-QY=DP?##OV@C;220:X9@!)91$P$F]@
M$;AA?., /8CSX'8SM0V3S?'S.^\<-&LQD.CT:\L8 UY"PJ@29C/0+6QZJ/FV
M3@#>&J,;*&Z0G/;EHCUCI&HPR#2VE396 L(\CL->D H8J)I>>![0.Z;GQ^@&
M>ALFH6/9=@D=RP8KL?:>4JY=-,2@Q$2Q"[email protected]!IUC,D].%Z._AJ_L&=^IS_
M>(6<39L*7C.NK(HC5DLL.(P8;HPJ"ILF^AS0H[%#I65/&GO#,0?<,4W;,OY:/)34;,3_0SDU.!?8>8/V[5Q%O%84>^1)1:O,=X5A[\F'7;R0 S[5'E'EOJ35"0/<  N#\?)*N=L2-
MLB?D3[N0Z?O?1_]13FNEN*[?2G#24D"-,! 3&MU_1*FK(&"8RK,A7Q>TJ+]:
M'8G[::GWT/4/H]ML?YKJPUH*PJ9LM$IQ"J+?'ET=SU$%!=;FISCH:>&@6LWEYFTT_9:L@H=E-?K?_J:\=M0)1%' DA=$$:"4 )0A6(GIGP,_ 
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M#)(<1V,7$DF..78XS#U>/'MW>S?*HY8>#835K]*%
MN?=Q=C[@-*YV6X$9 RC2PJ=\?AQ$#(#=P,$]/1OWH%.CK6O<>Z3A/F/M2;E@
M"(>42*LA\=)5I+BR00
MMMH&XIKIAL>5P[6_^J=9VSH8V%5MHQ0'&AE/I1?<"(A!%1W,#7,-U[$"$<*4$U''JT<'5(09[TOKUIN8=2:$7=4"L,XY
M+6@4U IF $!65X(RIQMF&!K@0M6*MLO.D.UK>)[P)D#[HU1BHAE)&_<&(T,5
M0&:]BR94_,]]-[PZ%G,]:^NLR*[R6B(^K1&$HM!B*85DW'KFK#:V$H]KV]"E
M?&-CL[:.MXW-HT#MP2QT5U?9.#T:L^GQI^A+F[*8Y\4B+ZXO[K+I*AIR!X7J
M-Q(,X\9K;@6E' )*.$*F B#B(<[&I.N"59WAW /1'C\U_$R&*_NWNU@V@&M!.PIT9(RYJ21EC AXJA;0V"IZ2M]X=ND6G= =VQK
M?(M5RVE^*E=@]?G[ XV,K;4"PAX2&JU Z8%%"."$]-*.\XK@O>\?]"9F/5=@
M>[7@!160QX51(VD05CSZDVM!M?!-P\X':6ZTH.T7YD9KR/8U/$_J"K0]2@'1
M/%IUVGF"$+*2(K)^)=!S1N5IWI7:=/C3Z/OOT4Z8YJ-)B@VYN/J4I;=1LUTF
MW?[* 1.8UA/HO((4"P:%<)70QOTD([:VYK>-V+;P[<&$V_3YG^7TSW?%QVDY
MSF:',VI[[8 5U08>4:@W@/CF5MJ1G-]GR
M/.5P3FVO'2PB"@#"B/?1VS9*.KV!4S#3,%Y_D&Y AYQJ#> ^.;4[4/5QL8 (
M%M0J*!"D)DZWQ%.Z%D) (AON2QR>%J_S (I.67(XDGV9FZ>+C&C?VK3&1XN>
MFF@1*&,X!,HK3]+[O
M"@#%D6]H)KPQR[,V"W9$,[2(AS74W3GJXI,!$BUYA)9"[V D>;J*SR0# LDXJD1?
MC];V,Y.T3;I7K( !**GWB>C#:)I.7;Z=\G&'VX*Y!_]Q>U_-S:BXSMX5T<_YHYAFHTG^7]GE_RHG:?[Z>YS*4N#Y
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M]^5F6BZN;[Y\+Y]T4H]FKV8S;O<#05'"))%&6&4H%=[X%(;EFM3S?1FM>[B
M9"OM!@NHLIQA)PR5VBE@9752[61: @Z*RP]E,:W^
M<^D,[7O_K+5O1.I+BQ'T0 &3LMYY'[VZ-802T7-*?= ^K9[G0CV15OI(PUN)
MIN\W/_ZO/)O&3]_" Z4.Y]-[Q-P
M91M;V]1(GU1]BNKU2,-RG\T5B.<361,N!/I@+WMGS22S1@<[+CE#NA49_+[]ETR)9%.HZ
M*\8O]HMKD*I>$P$0Q76*RJ:>064$)G S2AV!Y_,>3!\4ZP3S'@AGRNE=.1W-
MLP-9MK->B+A91I0S4$!#01Q@LC)/F>&JX:V, >:;Z)Y:;0+=IU=YA-'ZOLZ#
MN&U^)PCG6Z+/AZ^E]BE,J[J2G]\='[S\- "?*"B.I
MTE)+3&D<_195HD-H>SL\Z_X1P=,PIO9Y_C%J.2TC']X-6KY ]G"G+UWFTRFH
M)FMZB;-FV\%;YP5!'A#"-(K+(O?5LL@X, UWH =HA Z>Q9TH;*#\3A=5N^+W
MD[:#QPPY@;PT$&NFB:+.57!)OC^O"K]9FA^CMY/2O!%_ V("&,2 BH\5\Q*(QP'@$J.)64:"'^:!Q>V4ZA.
M]KP:M0.RSBG#&$2:2(RM%^E.R$ILI<4YO?;4/A5J#_BF>/>P\#S"Q4Q&LUE^
ME6>7^CX]+I3 6(PFZYLB]S8Z$+5SNA[3;/#<"DTM%E@(P "7B)&- @!NN#4]
MP V2'DC9HR(Z79T^9,OGO3]F4U/>WI;%YYN(\"D6)C>:%M%(2#U9]J'&,K2M
M2H@0(BJ6;T!BH1PR7*[.XK&FV-E]T??]"%AGN&^M$R@GSAM&<73LJ 0IAF_]
M\H!F/ I[-@O,\4I^_NI;2YCV/RP?W9\KYOEE/EFD-*F#N#'7YN@5P"'NO1,0
M*D A]!"C]5NK#B!TFMMP^[!W/\:318391P)'E=TM5GJ_N'I!MSU7XMK]4$ 1
M,Q_A!.FFJ1:<*04J,#D\HXM(Q]-I:V+W$RBBCZV1XZ32]Z\WL"*-TPXP> R3N(!A3B\6-M=,#%=WMW:2\S[+/\VBU7MPEK/8&
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MF@-- \\'.!<=+,N/8('.EUUER!=.W6&(*9])48Z.NV)%M^R
MZ=>R8V(,(M0S2X6\]E\5%RN
MXSG'-2:51NT%(A7R"#M!K134^6A&FLV0HZCAP>4 #>YVN=4'V$/C8%O<"Q$#
MPXTCQ&.J$$+2*\PQPS*-2HD:!L@-<*'KF"7'[Q6B^@=[LC=EZ.]G_!\#,UM30QU'U\Q/\)2S%Y5J" QSM
M9S4#]%(2&6TA@J@@"/MH*E6B0N'ZR@OT]KR/=H'M?R?I='>G6@URQ1X;10UP
MQ$#&J,9^O5NH"01PWU+>=9#K'I+4OJ_2L,5@"> R7
M[!V@)7X\0;:&K7:)> ]+1WL'40?QM*V/!48P@MJG>&-OH\(LQW2C0([/)X5U
MAQ0^D3(Z7=0^3LN[;#J_7]]*NWOL*_:YFE7]^#@9%?/'G:FQK.VM&ZQ0W'@?
M9Q3D,9"*V_7;,]A334_TI-'6;MM\-IZ4Z?YZG
M><':9K=ED>;AI(C-Y[?&:.^I$2C1!%'I$+$VFFM&1_-MU5G-A"!]L:*/_=96
M=5=V >\IYYGW-<*N]U<.T$)!!,#$(A_M=,(MJ"9M**EO^%[T +='3K>,-06[
M!W;9+*IIG"_5MX-'CXL%XSGEAA/DX]C@QC*7]G"2$ )C3+5;+!+Z7.HKM_%^?^RXNK'92IW480PBG&? 10
M(LDXP<:MIW %M)0-+[X>/ .==$4[GE%=X=W[SLS+>?K)5M.Y;ME97 BMY:<^B.QANX9P# 43R ,+K#+&2UL!X(4]G^0++7*A\7;-
M05B?Q7:-H)(Z21"7"")/K,/1F%N+3(0X'WJU3X(&VS6'H7T6VS5484\@QJ_P7;-84#WP"V_F!;Y?#'-8H=]_B/]M/^UO>V5
M D(<. *U,I1PR2.(0&X&IN+G\X1[J]I^_BA96_CV0*#WV6B6W923RVC$3\MO
MJ\?']S)H1ZT@3#[email protected] < ;<8?P(?N&:^B:2)X
M4:+/Y=7\>\1BUX[Q]O*!^)S
M X"H=TX:+3$B D#@)=R(3IHF!1I@5I>.>- BN#VL*+^/(DI%-GVR=[)W1=E1
M*TB)O '<4(FU)0P*;3>0 ; WE_?;>>.GRQ6E/8![X)!9\GTQ3BI[5T18KJ,.
MZSPCO;U:$"[E"D<.RO10-L5+EG4(L)G<( I(9&.<.RX
MX!8;A87<6&) R(89<@9HZIYN8Z1$>SA(=''Y[/QYTFV5&1QN7X8>OG[K>+M8%U;
MGP@.: B4C5X'DM@0H"W7:_ 0YKSA4^'U9[V^'Z'MD*8GTLDI)\KADH[V@BBG@$$0"8^X)1)50@/HS^?U
MJA;U7_O$JB'*G8[H3]DX"3T>IV25>7$=>U_$'\>KO>U3C.J'OIB;47&=I7U6
M-YV64U-&_BQ]W#H9$P]I)CA)%76"84RM$%XQGQX8@U([8"DU^W)6= /$A^S[
M-KU$6=92O2L>E\F+<1Z-E%JOI;;1?"#0&8JE;6IH"B'T% .+$>4(BNYD&M I#5H7V;>,YT\:M.D_N31!OR=
M3A2?L^OE-E!67D]'=S?Y>#1)$]YB-B]O4XZA(LTCTR>7$OJ<+=;=^Y3=):^_
MN*XQ,VRK$C"E4#EA-4A1U@@J2>TZ'SC0S)_&U'C>V\/2+M2H'8C5RF,E 842
MIJL-W*.-V$J?CZ%PO.*?Q_"VCNY0AO()0_?;'-'. \688<@+2#@$D,CUZ\0R
MZIOO.V_J:%U?9R1<=3=MT:S[OS.-^-9*D6$,DNBJ(L%M-"(%]4]\]YUA+E]]^6_K#T_M$&5S]1V(+?L26]:_#'Y]?
MH<7#'P,6),[*#@MO=4H&H;VPFZY*<'8FT#':*H]$KX?)X4-9_+$_>/%1J>"L
M5X8(P"B+#I:W<84FE0@$L/-)'-H> 8Z'L=,A_^[]CB'_[GW0&$)AI5"0"XZ=
M20]_5EWEFC0T( 9X5Z+](7\P>H=>A[B8WV333]EUVCS==0GB9;D *(_&=;1Z
M //8> >XP57'A-F;X_OM7'UH3ZUM -E3B'HYR2^7NEG&Y.QQ'EZO$(00-EHW
M"D + =/02+.9HR"V#;B7/Y[3T>-6_>'V] X#[V[YX;49^7^.J3)WJ(?I>DB*!H8HK.&76
M&E1Y]!%BVC"UP! MW#ZWR-I'O@^ZC2;9[%/V+2L6V>YX\&VR9.BP3J<+O,0IY3T
MT3$$0%?;/YI)VM .&J)!W25%CH1U* ?_I[LRT.:YOY8>2Z"UA4@"JJRC$#()
M68K\5-Z?)IYO/7^D%WA<1'1:1$-GK8*9OG]0CIIFHUGMU\*.:#4P K!62EMG
M&2!*>>OE&B;.L6]X,>T-+ Z'$^6%W=H7ZGVD-'J:@K0Y%P]K*,AHM0DM+83 
M1[D9))!60% .SV@GIVWZ=0ITMTO1/'9(CV;997+RLF)VLLC1AV"]BZO'??F4
M+:^7FG(VGRU?1/N:>OMQ=+\*]M^_*AW7<.#,60JH6^
M?\%-]7TTO3P@/O*X;P2-G4' *DH?;GRWY2,$@$=70]A&.$ ^^U=VJ#AI-[+T&]'0(U4]\6#C0"[]"PFB_?RR\W
MY6(V*BY'*5'RU3S+BM2#73$V>RH%##R('P$&$8G=\@D37G59:W=^^CY4565'
M4/:1)&LYR>U_D^%)N8!4NIL.->=Q2;;$0J719B5&I/-T53_1$G(,\'T<.S:&
MY4&PXK+V2M3%YX*C4G@9+4B&T]U+Z2WP&U"C"WHV\UM#+CTWIT^O@QZ([6[O
M)N5]EBUW!/9& ;U2.D3S %"(A$E-,*CXE7QNQ@?!W8A$&8YC08K=\:P
ME$ ;*EV![X!J:+$/<9/@#0Z:;I5Y:)!$8S'>%>,4.I^]*QX6P-6"&/N=+DB-
MKE>1;94?=+&8S^:CXC(OKE\/O3A)5X+%5&(I+54F>F16&6DV$Q4Q3?WT<_\MO%[>8D;_%U-I[FRXGBTVB^,R:WHT\&9HU)KT)%!@B+
M'"%P,AXZHS%N:$2O<.AL?6;@4!D/+>>"X6 
M,!8@0BMX+1$-P]<'^ CP&QX;;6FOD:GU=4>_O]Z_"/A?]GOYVX^+Z?@F_N5]
M?INO"+(6QX_RZ>^CZ9_9_!^CR>+IFKC#T.JW(X%A"AEV+AW&"D(0U@]6+,>T
M87P&_]? >"LJ[3-,+9M^R\?9ZYKX4!;?LMD\6T4FS+ZDQS8?_SU=O/E0SO]O
M-O^4CM>TVL2RU6NKKZ$VPU6JR3AVR2)XJ;E=G381O7;Z_0$Z,,?)(
MUKD )@;)]S.XP98* 'MCTLB1G#*!MEL9]+C>_:GZ'A^"20<;4IV;21VM5X*#
M-Q0DH*V!T,FVK*+J;I2:"J13YM;S+VT?^GH[<9 )ZT2;"I\ ,C9"*^.ODL^=(65"TI%G2$,>
M5R'J;8$T=KS.Y]4E.YW^7ZY7&YI,=U]= @2MU#
M# =![:4]
M0\M=T(*E&".HVOR:85]E1/_,Y0
M>1*T'6==J7V_)N57ZH3G;>C3>:G OY+L)_TN3+F+PO%T/S[U4KBFJO
MR6H1I&)Y.1*%",;6$$0'+5=RS;/);A3LF8*7NL"D63C&E1]W"8(S/DH"@R$F
MR]C._,A;%PPX.SMMN_)+JX<;_<:+_J#"L\/_3W]7'V^7Z[Q6 B%8JQSZ$%$1
M TE:X%93Z(,1_%1EZJY%9XW$EKC9M!^)%]E?LWON'J(Y5_E\O'/JO^[2+V)\.O4
MTX7C0E0K*7+$0S8;H%%UEPFIY3PW0MU,-SYT?1/WL2U3+I?5Y=:KAVV&??[<
MU*5./5J@##$8B1)\M$(%I6EOR*19R_2Z$1: Z\:?KFS?'ISIAW)5KN^6N<7X
M\'&Q6E0+ENJ2WJ8>U>CY@J,.42CFA ZD\C#-N:V[#:TK@8^P5EHW;M6%D<>2
MN7QR1=)$@7KE-Q4!;<50T!B<4,H06*A-J4BVE/*/<%H=U_)Q6!C[R,#;MOUE
M(O2!/=QCJ7F-?J!(P-";%#$B&8\)14K/,4MO*K;N_7-W/[@0+;[VK
MX-8;149:S[STRAB5ZD2?&(UI*4R8GR3]2D[9'4=:X3D!>@Q_V0<9QAE3P:!%
M&9+W!+6^).:1\';9QTC)<3F6?="CBH1__/3IJ7R(3^MLN6UK-QW[]#),3G^7
MZ_O%I^,W/IW]8P5C0EJIG=9>1[+:I+TT/@;'6^;&ME5G?U/NW358$QC<=SK5
M')IVFBKT]MN*P#:*6 ,HC#8H.$BH32HM;WE..D-I]#C'^,LAG0!+AETA)"TT
M%\S&*"S#/%MJW*__B,>6I\!SDRZ/DQZ7HCD!][G7VK Q!>A0W6.M&"D=/4,'HBZ2%%7P\U&%3)1"G4,Z'XX-
M3ZQ"V0#*439U\BYY@>C9WDL@]J7[G.!^[M6=>Q@>GND!8R#?F[7(#F[D=47 
MZ[6B(+"$T9LH'3#!$[E]><@(1LXG*IP3_0;#?PH4K/LW. O/:DCA,$+$@""E
M\$%HX>W>630SMRNGITC$+EU@"EP\L.8]L??$4W+T][Y[^4/SL%!
M\)\ ]5[L[PY$O88M*%(TUGB%4:L [email protected]:F3RF<+!0RG:EOHMN X 0KA
MP\/F=LJ[Y3-R3;3MG;ZWV.Q>H>/&RF1UC@\DKTOEYN%5MERYG3U3W>C2 WI]
MD>2WT]W][>P)]I>RRK[,?P^/JTWGG^Z6[\KU1W&*.OVV)H];*H&WDL5@%")*
M@W5HDOV&F]FD.XS$LP_Q;=20#Y 0MDGHO&5\O1C.-4E,5DGADPA.>)<7Q+LK
M:E-@Z53-LXX&SQ/7RAS*YMM ^RZ#Z7.;_C@V%E[\XX6*.MO'877[G/!!*L'W
M1LN&G$]5I+ZP"EC]#UVE44SAJ4K_S. B1'GBA8\)0_*PL >_,&
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K 0!G:2TR,#$V,#4P,U]P&UL4$L%!@     &  8 ?@$  &40 @    $!
 
end

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings