-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 L9oI7EBbxCTd8f/NIVw+cKfa5fJlvrlk0HdnPSG8hN8Nv5kpSU/VuGCHF0yNact6
 wmfUGE3sBMx0B1gLD6L8Zg==

<SEC-DOCUMENT>0001169232-07-004075.txt : 20071101
<SEC-HEADER>0001169232-07-004075.hdr.sgml : 20071101
<ACCEPTANCE-DATETIME>20071101160549
ACCESSION NUMBER:		0001169232-07-004075
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20071206
FILED AS OF DATE:		20071101
DATE AS OF CHANGE:		20071101
EFFECTIVENESS DATE:		20071101

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMTECH TELECOMMUNICATIONS CORP /DE/
		CENTRAL INDEX KEY:			0000023197
		STANDARD INDUSTRIAL CLASSIFICATION:	RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
		IRS NUMBER:				112139466
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-07928
		FILM NUMBER:		071207014

	BUSINESS ADDRESS:	
		STREET 1:		68 SOUTH SERVICE ROAD
		STREET 2:		SUITE 230
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6319627000

	MAIL ADDRESS:	
		STREET 1:		68 SOUTH SERVICE ROAD
		STREET 2:		SUITE 230
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMTECH INC
		DATE OF NAME CHANGE:	19870503

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMTECH TELECOMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19831215

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMTECH LABORATORIES INC
		DATE OF NAME CHANGE:	19780425
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d72846_def14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body>
        <br>

        <div style="WIDTH: 600px">
            <br>
            <!-- MARKER FORMAT-SHEET="Head Major 10" -->

            <h1 align="center"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">UNITED
            STATES<br>
            SECURITIES AND EXCHANGE COMMISSION<br>
            Washington, D.C. 20549<br>
            <br>
             </font><font face="TIMES NEW ROMAN, TIMES, SERIF" size="4">SCHEDULE 14A </font></h1>
            <!-- MARKER FORMAT-SHEET="Para Center 10" -->

            <p align="center"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Proxy Statement
            Pursuant to Section 14(a) of the<br>
            Securities Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;) </font></p>
            <!-- MARKER FORMAT-SHEET="Para Flush 10" -->

            <p><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Filed by the Registrant [X]<br>
            Filed by a Party other than the Registrant [&nbsp;&nbsp;] </font></p>
            <!-- MARKER FORMAT-SHEET="Para Flush 10" -->

            <p><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Check the appropriate
            box: </font></p>
            <!-- MARKER FORMAT-SHEET="Page Width End" --><br>
            <!-- MARKER FORMAT-SHEET="Reg Cover Table 2 Col 10" -->

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr valign="top">
                    <td align="left" width="50%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;
                    ]&nbsp;&nbsp;Preliminary Proxy Statement </font> </td>

                    <td align="left" width="50%">
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Reg Cover Table 2 Col 10" -->

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr valign="top">
                    <td align="left" width="50%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2"><strong>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Confidential,
                    For Use of the&nbsp;Commission Only (as permitted by Rule
                    14a-6(e)(2))</strong> </font> </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Reg Cover Table 2 Col 10" -->

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr valign="top">
                    <td align="left" width="50%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[X]&nbsp;&nbsp;Definitive
                    Proxy Statement </font> </td>

                    <td align="left" width="50%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Reg Cover Table 2 Col 10" -->

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr valign="top">
                    <td align="left" width="80%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Definitive
                    Additional Materials </font> </td>

                    <td align="left" width="20%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>
                </tr>

                <tr valign="top">
                    <td align="left">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting
                    Material Pursuant to &sect;240.14a-12 </font> </td>

                    <td align="left">&nbsp;</td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Page Width Start" -->

            <table cellspacing="0" cellpadding="0" width="600" border="0">
                <tr valign="top">
                    <td>
                        <!-- MARKER FORMAT-SHEET="Para Center 10" -->

                        <p align="center"><font size="2"><b>COMTECH TELECOMMUNICATIONS
                        CORP.</b><br>
                        (Name of Registrant as Specified In Its Charter) </font></p>
                        <!-- MARKER FORMAT-SHEET="Para Center 10" -->

                        <p align="center">
                        <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;<br>

                        (Name of Person(s) Filing Proxy Statement, if other than the
                        Registrant) </font></p>
                        <!-- MARKER FORMAT-SHEET="Para Flush 10" -->

                        <p><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Payment of Filing
                        Fee (Check the appropriate box): </font></p>
                        <!-- MARKER FORMAT-SHEET="Page Width End" -->
                    </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[X] </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="94%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">No fee
                    required. </font> </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;&nbsp;] </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="94%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Fee
                    computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. </font>
                    </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">1) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Title of
                    each class of securities to which transaction applies:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">2) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Aggregate
                    number of securities to which transaction applies:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">3) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Per unit
                    price or other underlying value of transaction computed pursuant to Exchange
                    Act Rule 0-11 (set forth the amount on which the filing fee is calculated and
                    state how it was determined):<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">4) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Proposed
                    maximum aggregate value of transaction:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">5) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Total fee
                    paid:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;] </font> </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="94%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Fee paid
                    previously with preliminary materials: </font> </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">[&nbsp;&nbsp;] </font> </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="94%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Check box
                    if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2)
                    and identify the filing for which the offsetting fee was paid previously.
                    Identify the previous filing by registration statement number, or the Form or
                    Schedule and the date of its filing. </font> </td>
                </tr>
            </table>
            <br>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">1) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Amount
                    Previously Paid:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">2) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Form,
                    Schedule or Registration Statement No.:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">3) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Filing
                    Party:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <!-- MARKER FORMAT-SHEET="Para Hang Arabic 10 In 1" -->

            <table cellspacing="0" cellpadding="0" width="600">
                <tr valign="top">
                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="3%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">4) </font>
                    </td>

                    <td width="3%">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">&nbsp; </font> </td>

                    <td width="91%"><font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">Date
                    Filed:<br>
                    <br>
                    &mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash;&mdash; </font>
                    </td>
                </tr>
            </table>
            <br>
            <hr color="gray" noshade size="5">
        </div>
        <PAGE>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><img height="63" src="image001.jpg" width="308">
                     </font></p>

                    <p align="center"><font face="Times New Roman, Times, Serif" size="2">68 South
                    Service Road, Suite 230 </font><br>
                    <font face="Times New Roman, Times, Serif" size="2">Melville, New York
                    11747 </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                    November 1, 2007 </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">To Our
                    Stockholders: </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">On
                    behalf of the Board of Directors and management, I cordially invite you to
                    attend the 2007 Annual Meeting of Stockholders of Comtech Telecommunications
                    Corp. The annual meeting will be held at 10:00 a.m. on December 6, 2007 at our
                    corporate headquarters located at 68 South Service Road, Melville, New York
                    11747. The Notice of Annual Meeting of Stockholders, Proxy Statement and proxy
                    card are enclosed. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">I
                    believe that the annual meeting provides an excellent opportunity for
                    stockholders to become better acquainted with Comtech and its directors and
                    officers. I hope that you will be able to attend and I look forward to greeting
                    as many stockholders as possible. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>It is
                    important that your shares are voted at the annual meeting. Whether or not you
                    are able to attend in person, the prompt execution and return of your enclosed
                    proxy card in the envelope provided or submission of your proxy and voting
                    instructions over the internet or by telephone will both assure that your
                    shares are represented at the annual meeting and minimize the cost of proxy
                    solicitations. (Instructions for voting via the internet or by telephone are
                    set forth on the enclosed proxy card.)&nbsp;If you later decide to attend the
                    annual meeting, you may revoke your proxy and vote in person.</b> </font></p>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td width="50%">&nbsp;</td>

                <td>
                <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;Sincerely, </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><img height="45" src="image002.jpg" width="141"></td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;Fred
                Kornberg </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;Chairman, Chief
                Executive Officer and President </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">&nbsp;</p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center"><img height="63" src="image001.jpg" width="308"></td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, serif" size="2">68 South
                Service Road, Suite 230<br>
                Melville, NY 11747 </font> </td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, serif" size="2"><b><u>NOTICE
                OF 2007 ANNUAL MEETING OF STOCKHOLDERS</u></b> </font> </td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2"><strong>TIME
                AND DATE</strong> </font> </td>

                <td valign="top" colspan="2">
                <font face="Times New Roman, Times, serif" size="2">10:00 a.m. on December 6, 2007
                &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" width="5%">&nbsp;</td>

                <td valign="top" width="60%">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2"><strong>PLACE</strong> </font>
                </td>

                <td valign="top" colspan="2">
                <font face="Times New Roman, Times, serif" size="2">Comtech Telecommunications
                Corp.<br>
                68 South Service Road, Lower Level Auditorium<br>
                Melville, NY 11747 &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2"><strong>ITEMS
                OF BUSINESS</strong> </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(1) </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">To elect three
                directors. </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(2) </font>
                </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">To approve an amendment
                        to our By-Laws to permit direct registration of uncertificated shares of
                        capital stock in accordance with the NASDAQ Stock Market LLC
                        (&ldquo;NASDAQ&rdquo;) requirements. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(3) </font>
                </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">To approve an amendment
                        to our 2000 Stock Incentive Plan (the &ldquo;Plan&rdquo;) increasing the
                        number of shares of our Common Stock subject to awards under the Plan or
                        with respect to which awards may be granted. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(4) </font>
                </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">To ratify the selection
                        of our independent registered public accounting firm for the current fiscal
                        year. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(5) </font>
                </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">To transact such other
                        business as may properly come before the annual meeting or any adjournment
                        thereof. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2"><strong>&nbsp;</strong> </font>
                </td>

                <td valign="top" colspan="2">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The Board of Directors
                        unanimously recommends that the stockholders vote &ldquo;for&rdquo; the
                        election of our three nominees for director and &ldquo;for&rdquo; approval
                        of Proposals 2, 3 and 4 to be presented to stockholders at the 2007 Annual
                        Meeting. &nbsp; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2"><strong>RECORD
                DATE</strong> </font> </td>

                <td valign="top" colspan="2">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">All stockholders are
                        invited to attend the annual meeting. In order to vote, you must have been
                        a stockholder at the close of business on October 8, 2007. &nbsp; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2"><strong>PROXY
                VOTING</strong> </font> </td>

                <td valign="top" colspan="2">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2"><strong>It is important
                        that your shares be represented at the annual meeting regardless of the
                        number of shares you hold in order that we have a quorum, whether or not
                        you plan to be present at the annual meeting in person. Please complete,
                        sign, date and mail the enclosed proxy in the accompanying envelope (to
                        which you need affix no postage if mailed within the United States) or
                        submit your proxy and voting instructions over the internet or by
                        telephone. (Instructions for voting via the internet or by telephone are
                        set forth on the enclosed proxy card.)</strong> </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" colspan="2"><font face="Times New Roman, Times, serif" size="2">By
                Order of the Board of Directors, </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" colspan="2"><img height="43" src="image003.jpg" width="164"></td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" colspan="2">
                    <p><font face="Times New Roman, Times, serif" size="2">Patrick O&rsquo;Gara<br>
                    Secretary<br>
                    November 1, 2007 </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">&nbsp;</p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center"><img height="63" src="image001.jpg" width="308"></td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2007 ANNUAL
                MEETING </font> <br>
                <font face="Times New Roman, Times, Serif" size="2">PROXY STATEMENT </font> </td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2"><b><u>TABLE
                OF CONTENTS</u></b> </font> </td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600">
            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2"><strong>&nbsp;</strong> </font>
                </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1"><strong>Page</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" align="center">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a1">About the
                Proxy Statement</a></strong> </font> </td>

                <td valign="bottom" align="center" width="5%" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>2</strong> </font> </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a2">Principal
                Stockholders of Comtech Telecommunications Corp.</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>5</strong> </font> </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a3">Beneficial
                Ownership of Directors and Executive Officers</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>6</strong> </font> </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a4">Corporate
                Governance and Board Committees</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>6</strong> </font> </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a5">Code of
                Ethics</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>9</strong> </font> </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a6">Compensation
                Discussion and Analysis</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>10</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a7">Executive
                Compensation</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>18</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a8">Grants of
                Plan-Based Awards For Fiscal 2007</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>19</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a9">Outstanding
                Equity Awards at Fiscal Year-End &ndash; Fiscal 2007</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>23</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a10">Option
                Exercises &ndash; Fiscal 2007</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>24</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a11">Potential
                Termination and Change-in-Control Payments</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>24</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a12">Securities
                Authorized for Issuance Under Equity Compensation Plans</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>28</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a13">Director
                Compensation Table for Fiscal 2007</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>29</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a14">Executive
                Compensation Committee Report</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>30</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a15">Executive
                Compensation Committee Interlocks and Insider Participation</a></strong> </font>
                </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>31</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a16">Audit
                Committee Report</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>32</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a17">Certain
                Relationships and Related Transactions</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>33</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a18">Voting
                of Proxies and Other Matters</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>33</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a19">Section
                16(a) Beneficial Ownership Reporting Compliance</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>33</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a20">Proposal
                No. 1: Election of Three Directors</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>34</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a21">Proposal
                No. 2: Approval of Amendment to Our By-Laws</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>37</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a22">Proposal
                No. 3: Approval of Amendment to Our 2000 Stock Incentive Plan</a></strong> </font>
                </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>38</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a23">Proposal
                No. 4: Ratification of Selection of Independent Registered Public Accounting
                Firm</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>45</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a24">Other
                Business</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>46</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a25">Stockholder
                Proposals and Nominations</a></strong> </font> </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>46</strong> </font>
                </td>
            </tr>

            <tr>
                <td valign="bottom" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong><a href="#a26">Householding</a></strong> </font>
                </td>

                <td valign="bottom" align="center" height="20">
                <font face="Times New Roman, Times, serif" size="2"><strong>46</strong> </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">1 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a1"></a>ABOUT
                    THE PROXY STATEMENT</b> </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>What is the
                    purpose of the annual meeting?</i></b> </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td colspan="2"><font size="1">&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">At the annual meeting,
                        our stockholders will be asked to consider and act upon the following
                        matters: </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td width="48">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="96">
                </td>

                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Election of two
                        directors to our Board of Directors for a term expiring in 2010 and one
                        director for a term expiring in 2009; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="96">
                </td>

                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Approval of an
                        amendment to our By-Laws to permit direct registration of uncertificated
                        shares of capital stock in accordance with NASDAQ requirements; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="96">
                </td>

                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Approval of an
                        amendment to our 2000 Stock Incentive Plan increasing the number of shares
                        of our Common Stock subject to awards under the Plan or with respect to
                        which awards may be granted; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="96">
                </td>

                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Ratification of the
                        appointment of KPMG LLP as our independent registered public accounting
                        firm for the 2008 fiscal year; and </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="96">
                </td>

                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Such other business as
                        may properly come before the annual meeting or any adjournment
                        thereof. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>Who is entitled to
                    vote at the annual meeting?</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Only stockholders of
                        record on October 8, 2007, the record date for the annual meeting, are
                        entitled to receive notice of and vote at the annual meeting. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>What are the voting
                    rights of stockholders?</i></b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
                    <font face="Times New Roman, Times, Serif" size="2">Each share of our Common
                    Stock is entitled to one vote. There is no cumulative voting. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>How do stockholders
                    vote?</i></b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
                    <font face="Times New Roman, Times, Serif" size="2">Stockholders may vote at
                    the annual meeting in person or by proxy. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b><i>If
                    a stockholder gives a proxy, how are the shares voted?</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Proxies
                received by us before the annual meeting will be voted at the annual meeting in
                accordance with the instructions contained on the proxy card. The proxy card
                provides a way for you to direct how your shares will be voted. </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">If you do not give
                        voting instructions on your proxy card, your shares will be voted by the
                        persons named as proxies on your proxy card on each matter in accordance
                        with the recommendation of the Board of Directors or, if no recommendation
                        is made by the Board of Directors, in the discretion of the proxies. Thus,
                        for example, if you do not give instructions on your proxy card, and a
                        nominee for director withdraws before the election (which is not now
                        anticipated), your shares will be voted by the proxies for any substitute
                        nominee as may be nominated by the Board of Directors. The proxies named on
                        the proxy card are
                        &shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;&shy;Fred
                        Kornberg, Chairman, Chief Executive Officer and President of Comtech
                        (&ldquo;CEO&rdquo;), and Robert G. Rouse, Executive Vice President and
                        Chief Operating Officer (&ldquo;COO&rdquo;) of Comtech. Under the rules
                        that govern brokers and nominees who have record ownership of shares that
                        are held in &ldquo;street name&rdquo; for account holders (who are the
                        beneficial owners of the shares), brokers and nominees have the discretion
                        to vote such shares on routine matters, but not on non-routine matters. If
                        a broker or nominee has not received voting instructions from an account
                        holder and does not have discretionary authority to vote shares on a
                        particular item, a &ldquo;broker non-vote&rdquo; occurs. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">2 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">It is possible that
                        matters other than those listed above may be brought before stockholders at
                        the annual meeting. If we were not aware of the matter a reasonable time
                        before the mailing of this Proxy Statement, the proxies will vote your
                        shares on the matter as recommended by the Board of Directors, or, if no
                        recommendation is given, the proxies will vote your shares in their
                        discretion. In any event, the proxies will comply with the rules of the
                        Securities and Exchange Commission (&ldquo;SEC&rdquo;) when acting on your
                        behalf on a discretionary basis. At the date of this Proxy Statement, we
                        had not received any notice regarding any other matter to come before the
                        annual meeting which was timely in accordance with our By-Laws. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>How are proxies
                    changed or revoked?</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">You may change any vote
                        by proxy or revoke a proxy before it is exercised by filing with the
                        Secretary of Comtech either a notice of revocation or a duly executed proxy
                        bearing a later date or by attending the annual meeting and voting in
                        person. Attendance at the annual meeting will not by itself constitute
                        revocation of a proxy. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>How many shares are
                    outstanding and what constitutes a quorum?</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">At the close of
                        business on October 8, 2007, the record date for the annual meeting,
                        24,000,861 shares of Common Stock were outstanding. Stockholders entitled
                        to cast at least a majority of the votes that all stockholders are entitled
                        to cast must be present at the annual meeting in person or by proxy to
                        constitute a quorum for the transaction of business. Withheld votes and
                        shares voted as &ldquo;abstentions&rdquo; or subject to broker non-votes
                        still count for purposes of determining whether a quorum is present. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>What vote is required
                    to approve each item?</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><b>Election of the
                        Three Directors.</b> &nbsp;The three directors will be elected by a
                        plurality of the votes cast. That means that the nominees receiving the
                        greatest number of votes will be elected as directors, even if the number
                        of votes received is less than a majority of the votes present at the
                        annual meeting. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><b>By-Laws
                        Amendment</b>. Approval of the amendment to&nbsp;our By-Laws to permit
                        direct registration of uncertificated shares of capital stock will require
                        the affirmative vote of a majority of the outstanding shares entitled to
                        vote on the proposal. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><b>Amendment to 2000
                        Stock Incentive Plan.</b> Approval of the amendment to&nbsp;our 2000 Stock
                        Incentive Plan increasing the number of shares of our Common Stock subject
                        to awards under the Plan or with respect to which awards may be granted
                        will require the affirmative vote of a majority of the shares present at
                        the annual meeting and entitled to vote on such proposal. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><b>Ratification of
                        Selection of Accounting Firm</b>. The ratification of the selection of KPMG
                        LLP as our independent registered public accounting firm for fiscal 2008
                        will require the affirmative vote of a majority of the shares present at
                        the annual meeting and entitled to vote on such proposal. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><b>Other Matters.
                        &nbsp;</b> Approval of any other matter that comes before the annual
                        meeting or any adjournment thereof will require the affirmative vote of a
                        majority of the shares present at the annual meeting and entitled to vote
                        on such matter. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">3 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2"><b><i>How do withheld
                votes, abstentions and broker non-votes affect the outcome of a
                vote?</i></b> </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Withheld votes with
                        respect to a nominee for election as director will not affect the outcome
                        of the vote, so long as the particular nominee receives more votes than any
                        nominee competing for the particular director seat. Abstentions will be
                        counted in determining the number of shares present and entitled to vote on
                        the proposal, but broker non-votes are not counted as entitled to vote
                        thereon. Therefore, abstentions will have the effect of a vote against a
                        proposal and broker non-votes will have no effect on the outcome of the
                        vote on a proposal that requires a majority vote of the shares present and
                        entitled to vote on the matter. In the case of a proposal that requires the
                        affirmative vote of a majority of the outstanding shares, both abstentions
                        and broker non-votes will have the effect of a vote against the
                        proposal. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>What
                    are our Board of Director&rsquo;s recommendations?</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">The Board
                unanimously recommends that you vote: </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="75">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">FOR the
                election of the three nominees proposed for election as directors, </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="75">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">FOR the
                approval of the proposed amendment to our By-Laws, </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="75">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">FOR the
                amendment to&nbsp;our 2000 Stock Incentive Plan, and </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="75">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">FOR the ratification of
                        the appointment of KPMG LLP as our independent registered public accounting
                        firm for fiscal 2008. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Other
                    Information</i></b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">We have enclosed our
                        Annual Report for fiscal 2007 together with this Proxy Statement. No
                        material contained in the Annual Report is to be considered a part of the
                        proxy solicitation material. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">The annual meeting may
                        be adjourned from time to time without notice other than by announcement at
                        the annual meeting. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Our mailing address is
                        Comtech Telecommunications Corp., 68 South Service Road, Suite 230,
                        Melville, New York 11747. Our corporate website address is
                        <u>www.comtechtel.com</u>. The contents of our website are not incorporated
                        by reference into this Proxy Statement. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">4 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a2"></a>PRINCIPAL
                    STOCKHOLDERS OF COMTECH TELECOMMUNICATIONS CORP.</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">This
                    table provides the number of shares beneficially owned by principal
                    stockholders who beneficially own more than five percent of our outstanding
                    Common Stock, as of a date stated in the below footnotes. The information in
                    this table is based upon the latest filings by each principal stockholder of
                    either a Schedule 13D, Schedule 13G or Form 13F as filed by the respective
                    stockholder with the SEC. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We
                    calculate the stockholder&rsquo;s percentage of the outstanding class assuming
                    the stockholder beneficially owned that number of shares on October 8, 2007.
                    Unless otherwise indicated, the stockholder had sole voting and sole
                    dispositive power over the shares. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <td align="left" colspan="5">
                    <hr noshade size="2">
                </td>
            </tr>

            <tr valign="bottom">
                <td><font face="Times New Roman, Times, Serif" size="2"><b>Name and Address of<br>
                Beneficial Owner</b> </font> </td>

                <th nowrap><font face="Times New Roman, Times, Serif" size="2">Amount and Nature
                of<br>
                Beneficial Ownership </font> </th>

                <th>&nbsp;</th>

                <th><font face="Times New Roman, Times, Serif" size="2">Percent of<br>
                Class </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="5">
                    <hr noshade size="2">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#ffffff">
                <td align="left" colspan="5"><font size="2">&nbsp;&nbsp;&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Paradigm
                Capital Management, Inc./PCM<br>
                Advisors LLC (1)<br>
                9 Elk Street<br>
                Albany, NY 12207-1002 </font> </td>

                <td valign="top" align="center" width="18%">
                <font face="Times New Roman, Times, Serif" size="2">1,580,464 </font> </td>

                <td valign="top" align="left" width="5%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center" width="10%">
                <font face="Times New Roman, Times, Serif" size="2">6.6 </font> </td>

                <td align="left" width="1%">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Lord Abbett
                &amp; Co. LLC (2)<br>
                90 Hudson Street, 11<sup>th</sup> Floor<br>
                Jersey City, NJ 07302 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">1,412,015 </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">5.9 </font> </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Barclays
                Global Investors NA (CA) (3)<br>
                45 Fremont Street, 17<sup>th</sup> Floor<br>
                San Francisco, CA 94105 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">1,320,527 </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">5.5 </font> </td>

                <td align="left">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">The
                information is based upon a Form 13F filed by Paradigm Capital Management, Inc./PCM
                Advisors LLC with the SEC reporting beneficial ownership as of June 30,
                2007. </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(2) </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">The
                information is based upon a Form 13F filed by Lord Abbett &amp; Co. LLC with the
                SEC reporting beneficial ownership as of June 30, 2007. </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(3) </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">The
                information is based upon a Form 13F filed by Barclays Global Investors NA (CA)
                with the SEC reporting beneficial ownership as of June 30, 2007. </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">5 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a3"></a>BENEFICIAL
                    OWNERSHIP OF DIRECTORS AND EXECUTIVE OFFICERS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    table below shows the beneficial ownership of our Common Stock of each of our
                    current directors,&nbsp;CEO,&nbsp;Chief Financial Officer (&ldquo;CFO&rdquo;)
                    and three other highest paid executive officers (collectively, the Named
                    Executive Officers (&ldquo;NEOs&rdquo;)) and all directors and executive
                    officers as a group. Unless otherwise indicated, our directors and executive
                    officers had sole voting and sole dispositive power over their
                    shares. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="left" colspan="8">&nbsp;</td>
            </tr>

            <tr>
                <th align="left">&nbsp;</th>

                <th align="left" colspan="7">
                    <hr noshade size="1">
                </th>
            </tr>

            <tr valign="bottom">
                <th align="left">&nbsp;</th>

                <th nowrap align="left">
                <font face="Times New Roman, Times, Serif" size="2">Name </font> </th>

                <th nowrap colspan="3"><font face="Times New Roman, Times, Serif" size="2">(1)<br>
                Shares<br>
                Beneficially Owned<br>
                on October 8, 2007 </font> </th>

                <th nowrap>
                </th>

                <th nowrap><font face="Times New Roman, Times, Serif" size="2">Percent of<br>
                Class </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" colspan="7">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" width="5%" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Richard L.
                Goldberg </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="10%">
                <font face="Times New Roman, Times, Serif" size="2">21,125 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="left" width="3%">&nbsp;</td>

                <td align="center" width="9%">
                <font face="Times New Roman, Times, Serif" size="2">* </font> </td>

                <td align="left" width="2%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Edwin
                Kantor </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">22,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Ira
                Kaplan </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">12,375 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Gerard R.
                Nocita </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">13,125 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert G.
                Paul </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Fred
                Kornberg </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">272,874 </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">1.1 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert G.
                Rouse </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">111,750 </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Michael D.
                Porcelain </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">44,433 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Richard L.
                Burt </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">106,625 </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert L.
                McCollum </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">64,528 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">* </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">All directors
                and executive officers as a group (13 persons) </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">708,690 </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2.9 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>

                <td align="left" colspan="7">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p>
                    <font face="Times New Roman, Times, Serif" size="2">________________________<br>

                    &nbsp;&nbsp;&nbsp;&nbsp; *&nbsp; Less than one
                    percent&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Includes the following
                        shares of our Common Stock with respect to which such persons have the
                        right to acquire beneficial ownership within 60 days from such date: Mr.
                        Goldberg 18,125 shares; Mr. Kantor 19,500 shares; Mr. Kaplan 9,375 shares;
                        Mr. Nocita 13,125 shares; Mr. Kornberg 149,068 shares; Mr. Rouse 100,500
                        shares; Mr. Porcelain 39,230 shares; Mr. Burt 106,625 shares; Mr. McCollum
                        41,000 shares and all directors and officers as a group 527,298 shares. We
                        calculated the percentage of the outstanding class beneficially owned by
                        each person and by the group treating their shares subject to this right to
                        acquire within 60 days as outstanding. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a4"></a>CORPORATE
                    GOVERNANCE AND BOARD COMMITTEES</b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Corporate Governance
                    Guidelines</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    business is managed with the oversight of our Board of Directors, in accordance
                    with the Delaware General Corporation Law and our By-Laws. Members of our Board
                    of Directors are kept informed of our business through discussions with our CEO
                    and other officers, by reviewing materials provided to them and by
                    participating in regular and special meetings of our Board of Directors and its
                    committees. In addition, to promote open discussion among our non-employee
                    directors, those directors meet in scheduled executive sessions without the
                    participation of management or our CEO, who is our only employee
                    director. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has a long-standing commitment to sound and effective
                    corporate governance practices. The foundation of our corporate governance is
                    our Board or Director&rsquo;s policy that a substantial majority of the members
                    of our Board of Directors should be independent. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors, in their opinion, has determined that five of our six
                    directors have no relationship which would interfere with the exercise of
                    independent judgment in carrying out the responsibilities of a director, and
                    that each, therefore, is an &ldquo;independent&rdquo; director, as that term is
                    defined in the NASDAQ Marketplace Rules. The five directors determined to be
                    independent are Messrs. Goldberg, Kantor, Kaplan, Nocita and Paul. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has complete access to all levels of management and also is
                    provided with opportunities to meet with members of our management. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">6 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Committees of the Board
                    of Directors</b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Audit Committee.</i>
                    &nbsp;&nbsp;</b> During fiscal 2007, our Audit Committee held nine meetings.
                    Our Audit Committee functions include engaging the independent registered
                    public accounting firm, directing investigations into accounting, finance and
                    internal control matters, reviewing the plan and results of audits with our
                    independent registered public accounting firm, overseeing our internal audit
                    function, reviewing our internal accounting controls and approving services to
                    be performed by our independent registered public accounting firm and related
                    fees. Our Board of Directors has determined that Messrs. Nocita and Paul
                    qualify as &ldquo;audit committee financial experts,&rdquo; as defined by SEC
                    rules, based on their education, background and experience. Our Audit Committee
                    is responsible for and has a policy to review and approve all related party
                    transactions. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has determined that all members of our Audit Committee are
                    qualified to be members of the Committee in accordance with NASDAQ Marketplace
                    Rules and meet the criteria for independence set forth in the rules of the SEC.
                    Our Audit Committee&rsquo;s Charter is available on our website at
                    www.comtechtel.com, under the link for &ldquo;Investor
                    Relations.&rdquo;&nbsp; </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Executive
                    Compensation Committee.</i></b> &nbsp;Our Executive Compensation Committee
                    (referred to throughout this proxy by name or by &ldquo;ECC&rdquo;) of our
                    Board of Directors considers and authorizes remuneration arrangements for our
                    executive officers. Our ECC also constitutes our Stock Option Committee which
                    administers our stock option plans. Our ECC held eight meetings during the past
                    fiscal year. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our ECC
                    determines the terms of performance-based awards for our executive officers,
                    and negotiates the terms of any of our executive officers&rsquo; employment
                    agreements. In addition, our ECC monitors the aggregate share usage under our
                    stock incentive programs and potential dilution resulting from the granting of
                    stock options. It also makes other determinations involved in the
                    administration of the stock option programs, except with respect to the
                    application of our Company&rsquo;s 2000 Stock Incentive Plan to non-employee
                    directors. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In early
                    fiscal 2007, Steven Hall &amp; Partners, LLC (&ldquo;SH&amp;P&rdquo;) was
                    retained by our Company to advise us with respect to preserving the tax
                    deductibility of certain performance-based compensation.&nbsp;After this
                    assignment was completed, our ECC retained SH&amp;P directly to advise it in
                    making certain executive compensation decisions. Our ECC has the sole
                    authority&nbsp; to set SH&amp;P&rsquo;s compensation and/or to terminate the
                    services of SH&amp;P. During fiscal 2007, SH&amp;P worked with our ECC on
                    assignments relating to the tax efficiency of executive compensation, severance
                    policies for our CEO and COO, compliance with SEC disclousure rules concerning
                    executive compensation, the negotiation of amended and restated employment
                    agreements for our CEO and COO, and change-in-control agreements for certain of
                    our other&nbsp;executive officers. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our CEO,
                    COO, CFO, and other members of our management often work with SH&amp;P to
                    provide information to SH&amp;P and, at the request of SH&amp;P or our ECC,
                    management reads and reviews SH&amp;P&rsquo;s consulting work product prior to
                    presentation to our ECC. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our ECC
                    often requests our CEO, COO, and CFO to be present at meetings, including ECC
                    meetings, where executive compensation and corporate and individual performance
                    are discussed and evaluated. These executives provide insight, suggestions or
                    recommendations regarding executive compensation if present during these
                    meetings or at other times. Our ECC meets with our CEO to discuss his own
                    compensation package, and his recommendations for other executives, but
                    ultimately decisions regarding compensation for our CEO and other executive
                    officers are made by our ECC. Only ECC members are allowed to vote on decisions
                    made regarding executive compensation, and these votes generally take place
                    during the &ldquo;executive session&rdquo; portion of our ECC meetings, when
                    members of management are not present. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has determined that each member of our ECC is an
                    &ldquo;independent director,&rdquo; as that term is defined in the NASDAQ
                    Marketplace Rules. Our ECC does not currently have a charter. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">7 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Nominating
                    Committee.</i></b> &nbsp;Our Nominating Committee identifies and evaluates
                    candidates for election as members of our Board of Directors and
                    reports&nbsp;its findings. In seeking and evaluating prospective members of our
                    Board of Directors, our Nominating Committee considers the nature and scope of
                    our business activities, and the capacity of our Board of Directors to provide
                    oversight and positive contributions in areas of particular significance to the
                    long-term creation of stockholder value. Areas of experience and capability
                    that our Nominating Committee particularly believes should be represented on
                    our Board of Directors include finance and accounting, and technology related
                    to our businesses. Our Nominating Committee believes that individual candidates
                    should also demonstrate high levels of commitment, adequate availability to
                    actively participate in our Board of Director&rsquo;s affairs, and high levels
                    of integrity and sensitivity to current business and corporate governance
                    trends. Before recommending a candidate to our full Board of Directors, all
                    members of our Nominating Committee will participate in meetings with the
                    candidate, and our Nominating Committee will seek to arrange meetings between
                    the candidate and other Board of Director members. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Candidates are typically
                    identified by a member of our Board of Directors, and our Nominating Committee
                    will consider individuals recommended by stockholders. A stockholder who wishes
                    to recommend a candidate for consideration by the Nominating Committee should
                    do so in writing addressed to the Nominating Committee Chairman at Comtech
                    Telecommunications Corp., 68 South Service Road, Suite 230, Melville, NY 11747.
                    Candidates recommended by stockholders will be considered according to the same
                    standards of perceived Comtech need and potential individual contribution as
                    are applied to candidates from other sources. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">During
                    fiscal 2007, our Nominating Committee held one meeting. Our Nominating
                    Committee identified Mr. Paul as a candidate to fill the vacancy left by the
                    retirement of Dr. George Bugliarello. Mr. Paul was recommended to the
                    Nominating Committee by Mr. Kapelus who was familiar with Mr. Paul through
                    prior professional dealings. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has determined that each member of our Nominating Committee
                    is an &ldquo;independent director,&rdquo; as that term is defined in the NASDAQ
                    Marketplace Rules. Our Nominating Committee&rsquo;s Charter is available on our
                    website at www.comtechtel.com, under the link for &ldquo;Investor
                    Relations.&rdquo; </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Executive
                    Committee.</i></b> &nbsp;During fiscal 2007, our Executive Committee of our
                    Board of Directors held one meeting. Except as limited by law, our Executive
                    Committee has the authority to act upon all matters requiring Board of Director
                    approval. Our Executive Committee&rsquo;s primary function is to be available
                    to take prompt action in circumstances in which it is impractical to convene a
                    meeting of our Board of Directors to respond to unanticipated and
                    time-sensitive matters. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Board
                    of Directors Meetings</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors held twelve meetings during fiscal 2007, including regularly
                    scheduled and special meetings. All of the incumbent directors attended or
                    participated in more than 75% of the total number of Board of
                    Directors&nbsp;meetings and the total number of meetings held by all committees
                    of our Board of Directors on which each such director served, held during the
                    periods in which the incumbent directors served on our Board of Directors and
                    such committees. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Communications with Our
                    Board of Directors</b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Stockholders may
                    communicate with our Board of Directors or an individual Director by writing to
                    us at Comtech Telecommunications Corp., Attention: Corporate Secretary, 68
                    South Service Road, Suite 230, Melville, NY 11747. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Annual Meeting
                    Attendance</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We have
                    adopted a policy for attendance by our Board of Directors at our annual meeting
                    of stockholders, which encourages directors, if practicable and time
                    permitting, to attend our annual meeting of stockholders, either in person, by
                    telephone or by other similar means of live communications (including video
                    conference or webcast). All incumbent directors, who were serving as directors
                    at the time, attended our 2006 Annual Meeting of Stockholders in
                    person. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">8 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a5"></a>CODE OF
                    ETHICS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We have
                    adopted a written Standards of Business Conduct that applies to our principal
                    executive officer, principal financial officer, principal accounting officer,
                    controller and to all&nbsp;of our&nbsp;other employees. These standards are a
                    guide to help ensure that all our employees live up to our high ethical
                    standards. A copy of the Standards of Business Conduct is maintained on our
                    website at www.comtechtel.com under the link for &ldquo;Investor
                    Relations.&rdquo; </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We
                    intend to post on our website, as required, any amendment to or waiver from any
                    provision in our Standards of Business Conduct that applies to our principal
                    executive officer, principal financial officer, principal accounting officer or
                    controller, or persons performing similar functions, and that relates to any
                    element of the standards enumerated in the rules of the SEC. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">9 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a6"></a>COMPENSATION
                    DISCUSSION AND ANALYSIS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><i>Our
                    ECC determines the compensation of all of our executive officers. This
                    discussion and analysis focuses on our NEOs and should be read in conjunction
                    with the Summary Compensation Table and other compensation tables in this Proxy
                    Statement.</i> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Objectives of Our
                    Compensation Program for Named Executive Officers</i></b> &nbsp; </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    principal goals of our compensation program for executive officers are to help
                    us to attract, motivate and retain the talent required to develop and achieve
                    our strategic and operating goals, with a view to maximizing stockholder value.
                    We intend for our executive officer compensation program to support our
                    growth-oriented business strategy by motivating and rewarding management
                    activities that create long-term stockholder value. Our key executive officer
                    compensation objectives are to: </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Attract and
                retain the key leadership talent required to successfully execute our business
                strategy; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Align
                executive pay with performance, both annual and long-term; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Ensure
                internal pay equity that reflects the relative contribution of each executive
                officer; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Strongly link the
                        interests of executives to those of our stockholders and other key
                        constituencies; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Keep our
                executive compensation practices transparent; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Comply with
                applicable rules and regulations;&nbsp;and </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="72">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">&bull; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">Administer
                executive compensation on a cost-effective and tax-efficient basis. </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We seek
                    to achieve these goals by placing a major portion of executives&rsquo; total
                    compensation at risk, in the form of an annual bonus or non-equity incentive
                    plan award and stock option awards. Bonuses are intended to reward achievement
                    of non-specific financial and performance goals. Non-equity incentives reward
                    the achievement of specific pre-set financial and performance goals. Stock
                    options create compensation opportunities intended to align management&rsquo;s
                    long-term interests with those of our stockholders. Such cash and stock-based
                    compensation components have been critical factors in attracting and retaining
                    key employees and are intended to contribute to a high level of executive
                    commitment to our business success. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our ECC
                    intends to assess performance of our NEOs in light of business conditions and
                    based on the efforts and effectiveness of each individual NEO. Our ECC also
                    intends to exercise judgment as to the appropriate sharing between management
                    and stockholders of the benefits of our business success. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We also
                    intend that the levels of compensation available to executive officers who
                    successfully enhance stockholder value be fair internally as compared to each
                    other and competitive in the marketplace. Our compensation program needs to be
                    competitive so that we can retain our executive officers who have demonstrated
                    their leadership, commitment, and overall worth to our organization. These
                    executives may be sought by other firms, or may have other interests. A
                    competitive program likewise is critical to our ability to attract new
                    executives who share our values and commitment and who have demonstrated the
                    abilities needed to potentially add value to us. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">10 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>Elements and Brief
                    Description of Our Compensation Program for NEOs</i></b> </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2">The table below lists
                    the elements of our current compensation program for NEOs, and briefly explains
                    the purpose of each element: </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600">
            <tr align="center">
                <td valign="top" colspan="5">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr align="center">
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2"><strong>Element of Our</strong>
                <strong><br>
                Compensation Program</strong> </font> </td>

                <td valign="top"><font size="2">&nbsp; </font> </td>

                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2"><strong>Brief</strong>
                <strong><br>
                Description</strong> </font> </td>

                <td valign="top"><font size="2">&nbsp; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2"><strong>How
                This Element<br>
                </strong><strong>Promotes Our Objectives</strong> </font> </td>
            </tr>

            <tr>
                <td valign="top" colspan="5">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td valign="top" colspan="5">
                <font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                <u><font face="Times New Roman, Times, serif" size="2"><strong><em>Annual
                Compensation:</em></strong> </font></u> </td>

                <td valign="top" width="3%">&nbsp;</td>

                <td valign="top" width="32%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="3%">&nbsp;</td>

                <td valign="top" width="33%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Salary </font>
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Fixed annual
                compensation </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Intended to be
                competitive with marketplace in order to aid in recruitment and retention </font>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Bonus </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Opportunity to
                earn compensation for achieving non-specific financial and performance goals and
                one-time awards such as sign-on bonuses </font> &nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Motivate and
                reward achievement of corporate objectives that enhance stockholder value
                &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Non-equity
                incentive plan compensation </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Opportunity to
                earn performance-based compensation for achieving pre-set financial and performance
                goals </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Motivate and
                reward achievement of annual operating objectives and other pre-set performance
                objectives that enhance stockholder value </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <u><font face="Times New Roman, Times, serif" size="2"><strong><em>Long-term
                Compensation:</em></strong> </font></u> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Stock
                options </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Stock options,
                generally granted on an annual basis with vesting terms </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Highly
                leveraged risk and reward aligned with creation of stockholder value; vesting terms
                promote retention &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <u><font face="Times New Roman, Times, serif" size="2"><strong><em>Other
                Compensation Elements:</em></strong> </font></u> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Retirement
                savings </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Qualified
                401(k) plan, including employer matching contribution, intended to encourage
                savings for retirement &nbsp; </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Program
                available to all employees; vesting terms of matching contributions promote
                retention </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Severance payments
                and benefits </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Payments and
                benefits provided to our CEO and COO upon termination of employment in specified
                circumstances &nbsp; </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Competitive
                employment agreement terms are intended to help retain our CEO and COO </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&mdash;
                Severance payments and benefits after a change-in-control </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Payments and
                benefits upon termination of an executive&rsquo;s employment in specified
                circumstances, generally within one year after a change-in-control </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Intended to
                provide financial security to attract and retain executives under disruptive
                circumstances, such as a change-in-control, and to encourage management to
                identify, consider and pursue transactions that would benefit stockholders, but
                that might adversely impact management &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Benefits </font>
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Health, life
                and disability benefits </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Facilitate
                recruitment and retention &nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">
                <font face="Times New Roman, Times, serif" size="2">&mdash;&nbsp;Perquisites </font>
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Modest
                personal benefits, such as automobile allowance </font> </td>

                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Intended to
                recognize senior employee status and provide additional compensation to executives
                at a relatively low cost </font> </td>
            </tr>

            <tr>
                <td valign="top" colspan="5">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">11 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">&nbsp;In
                    addition to these elements, we currently utilize certain policies and practices
                    as follows: </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><i>Employment
                    Agreements.</i> &nbsp;We have employment agreements with our two most senior
                    NEOs, our CEO and COO. Our practice of providing employment agreements to our
                    two most senior executives is intended to promote careful and complete
                    documentation and understanding of employment terms, prevent uncertainty
                    regarding those terms, promote good disclosure of those terms, help meet
                    regulatory requirements under tax laws and other regulations, and discourage
                    frequent renegotiation of the employment terms. We recognize that such
                    agreements can limit our ability to change certain employment and compensation
                    terms or conditions. However, in our recent renegotiation of these employment
                    agreements, the executives agreed to a number of changes to the agreements that
                    benefited our Company but were disadvantageous to the executives. The
                    employment agreements also include significant contractual restrictions
                    intended to protect our business, particularly after termination of the
                    executive&rsquo;s employment. These business protections include obligations
                    not to compete, not to hire away our employees, not to disparage us, and not to
                    reveal confidential information. The terms and conditions of the employment
                    agreements for our CEO and COO are summarized below under the captions
                    &ldquo;Additional Information Relating to Summary Compensation Table and Grants
                    of Plan-Based Awards Table&rdquo; and &ldquo;Potential Termination and
                    Change-in-Control Payments.&rdquo; </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Currently, we do not have
                    employment agreements with NEOs other than our two most senior officers. This
                    results from our decision to rely on a relatively straight-forward compensation
                    program focused on our executive officers&rsquo; opportunity to share in the
                    success of our fast-growing business as our means to attract and retain
                    employees. In addition, we rely on our history of fair treatment of executives
                    as a basis for not entering into employment agreements, other than with the CEO
                    or COO. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><i>Policies Regarding
                    Hedging.</i> We have a policy that precludes executives from short selling or
                    buying exchange-traded put options or call options, without the advance
                    approval of our ECC. We restrict these transactions because they could serve to
                    &ldquo;hedge&rdquo; the executive&rsquo;s risk of owning our stock and
                    otherwise represent highly speculative transactions with respect to our stock.
                    We recognize that our executives may sell shares from time to time in the open
                    market to realize value from their share-based compensation to meet financial
                    needs and diversify their holdings. All such transactions are required to
                    comply with our insider trading policy. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><i>Equity Award Grant
                    Practices.</i> &nbsp;Our practice in recent years has been to grant stock
                    options to NEOs within the first few business days of August, just after the
                    beginning of our fiscal year. Our ECC typically meets on the date of grant and
                    grants options with an exercise price equal to 100% of fair market value at
                    that date, defined as the closing price of our Common Stock on the grant
                    date. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Determination of
                    Compensation Amounts for NEOs</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    general, our ECC intends that the total compensation opportunity for an
                    executive will be competitive with market levels of compensation. In the past,
                    our ECC has considered compensation information relating to competitive
                    companies in order to gauge the market for executive talent in which we
                    compete. Our ECC does not benchmark executive compensation to market levels and
                    has not obtained formal benchmarking studies in several years. Rather, our ECC
                    sets pay opportunities for specific individuals based on the skills,
                    experience, long-term performance of the individual, and assessments with
                    respect to the individual&rsquo;s ability to add value to our Company. Actual
                    total compensation in a given year will vary upward or downward based primarily
                    on the attainment of operating goals and the creation of stockholder
                    value. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Company has experienced substantial growth and success over the past several
                    years. One effect of this has been a conservative approach on the part of our
                    ECC toward changing the structure of the program and the forms of awards under
                    the program. High levels of performance have resulted in the performance-based
                    elements of the program &ndash; annual incentives and stock options &ndash;
                    delivering a majority of compensation, with fixed portions of compensation
                    &ndash; salary in particular &ndash; representing a smaller portion of
                    compensation than would have been the case had our Company experienced slower
                    growth or lower levels of performance. Our ECC is satisfied that this
                    allocation of compensation both reflects the success of our Company and serves
                    to encourage such success, and has permitted the allocation among salary,
                    annual incentive, and stock options to shift to a heavier weighting toward
                    annual incentives and stock options in recent years. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">12 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><i>Base
                    Salary</i>. &nbsp;Base salaries paid to our executive officers are intended to
                    be generally competitive with those paid to executives holding comparable
                    positions in the marketplace. However, our ECC has considered the performance
                    of our Company or the applicable operating subsidiary or subsidiaries in
                    setting salaries for each position. Our ECC reviews base salaries each year,
                    and makes upward adjustments to the previous level of base salary based on the
                    ECC&rsquo;s assessment of the executive officer&rsquo;s individual performance,
                    taking into consideration the operating and financial performance of our
                    Company&rsquo;s operations for which the executive is responsible. These
                    adjustments involve a degree of subjective judgment on the part of our
                    ECC. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><i>Bonuses and Non-equity
                    Incentive Plan Awards</i>. Annual cash bonuses are intended to motivate and
                    reward achievement of corporate objectives by creating the potential to earn
                    compensation for achieving non-specific financial and performance goals and
                    also include certain one-time awards such as sign-on bonuses. Non-equity
                    incentive plan compensation is intended to motivate and reward achievement of
                    annual operating objectives and other pre-set performance objectives that
                    enhance stockholder values. Non-equity incentive plan compensation is paid to
                    executive officers who are subsidiary presidents pursuant to annually developed
                    incentive compensation plans (the &ldquo;Incentive Compensation Plan&rdquo;).
                    Under the Incentive Compensation Plan, these officers receive compensation up
                    to a fixed percentage of each applicable subsidiary&rsquo;s or
                    subsidiaries&rsquo; pre-tax income each year, subject to the attainment of
                    financial performance goals (such as operating profit, new orders and cash
                    flow) and personal performance targets that are developed by our CEO and COO
                    and approved by our ECC. Our ECC sets final goals after considering the budget
                    submitted for any given year. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    non-equity incentive plan compensation for our CFO is based on our ECC&rsquo;s
                    subjective assessment of our CFO&rsquo;s performance, with significant input
                    from our CEO and COO. While the level of pre-tax income is one consideration,
                    the non-equity incentive plan award payable to our CFO is not directly linked
                    to pre-tax income. This is a reflection of the fact that our CFO plays a
                    significant role in the integrity and oversight of our financial reporting, so
                    that his incentives to perform well in that role should not solely be tied to
                    the reporting of positive news. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Non-equity incentive plan
                    compensation payable to our CEO and COO&nbsp;is based on the terms of their
                    employment agreements and on amounts as our ECC may from time to time
                    determine. For fiscal 2007 and fiscal 2008, our ECC has exercised this
                    authority by granting cash-based incentive awards payable under our 2000 Stock
                    Incentive Plan. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We use
                    &ldquo;pre-tax income&rdquo; as a primary financial performance measure for
                    determining the amount of annual incentive awards to pay to our NEOs, other
                    than the CFO. We view pre-tax income as an effective measure of the overall
                    success of executive officers in guiding and growing our business. This
                    performance measure has been in use by our Company for a number of years for
                    both business planning purposes and in determining annual non-equity incentive
                    plan compensation, during which period we have experienced outstanding
                    growth. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Pre-tax
                    income, for this purpose, is not the same as the pre-tax income determined
                    under U.S. Generally Accepted Accounting Principles (&ldquo;GAAP&rdquo;). For
                    fiscal 2007 and fiscal 2008, the pre-tax income measure has been adjusted to
                    eliminate the effects of: i) stock-based compensation recorded pursuant to
                    Statement of Financial Accounting Standards (&ldquo;SFAS&rdquo;) 123(R), ii)
                    the amortization of newly acquired intangibles with finite lives, iii) any
                    adjustment required by the adoption of new accounting standards, iv) certain
                    costs associated with exit or disposal activities, and v) the write-off of
                    purchased in-process research and development expense, and impairment loss on
                    goodwill. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Pre-tax
                    income is not the sole performance metric we consider in awarding annual
                    incentives, however. Our ECC also considers other factors, such as stock price
                    performance and individual performance of the executive officer. Our ECC then
                    makes a determination of the amount of annual incentive to be paid to the
                    executive officer, up to a maximum level calculated as a pre-set percentage of
                    pre-tax income. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In the
                    case of our CEO, COO and CFO, this determination involves the exercise of
                    subjective judgment on the part of our ECC. Our ECC believes that its ability
                    to exercise judgment in determining annual incentive awards is advantageous as
                    compared to establishing a precise formula for calculating incentives which
                    limits flexibility in determining the final amount payable. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">13 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2">We considered the following
                in determining the amount of non-equity incentive plan awards for each NEO: </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2"><i><u>Our
                CEO&rsquo;s Fiscal 2007 Non-Equity Incentive Plan Award</u></i> <i>&nbsp;-</i>
                &nbsp;The employment agreement in effect for fiscal 2007 entitled our CEO to
                receive a non-discretionary annual incentive payment, not to exceed his base
                salary, equal to 3.5% of our pre-tax income, plus such additional amounts of
                compensation as our ECC may determine at its discretion. </font> </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">In determining the
                        additional amounts of compensation for fiscal 2007, our ECC utilized the
                        formula of 3.5% of pre-tax income as a general guideline for determining
                        the total amount of annual incentive payable to our CEO. In using this
                        guideline, our ECC has sought to reward our CEO for his efforts in growing
                        our business. Since the beginning of our 1998 fiscal year, our stock price
                        has grown by approximately 4,400% through the end of the 2007 fiscal
                        year. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">In applying this
                        general guideline for fiscal 2007, the total amount anticipated to be
                        payable to our CEO (including the base salary, non-discretionary payments
                        and additional amounts of compensation) was expected to be in excess of $1
                        million and would not have been fully tax deductible by our Company under
                        Internal Revenue Code Section 162(m). Accordingly, in December 2006 we
                        amended our 2000 Stock Incentive Plan, with the approval of stockholders,
                        to add an authorization for cash incentive awards that could qualify as
                        &ldquo;performance-based compensation&rdquo; under Code Section 162(m) and
                        therefore remain fully tax deductible by our Company. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">As disclosed in our
                        2006 Proxy Statement, our ECC granted a cash-incentive award to our CEO for
                        fiscal 2007 based on pre-tax income. In determining the annual incentive
                        formula, the annual incentive award would be reduced by the
                        non-discretionary annual incentive payment payable under&nbsp;his
                        employment contract so that, in the aggregate, the total non-equity
                        incentive compensation did not exceed 3.5% of pre-tax income for our
                        CEO. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Our ECC recognizes,
                        however, that given current levels of pre-tax income, payment of a simple
                        percentage of pre-tax income could result in a substantial payment even
                        though year-over-year results might be unfavorable. For this reason, our
                        ECC takes into account other aspects of our performance in determining
                        whether and how much to pay as the final cash incentive award. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">For fiscal 2007, our
                        ECC took into account, among other things, our record net sales of $445.7
                        million in fiscal 2007 (an increase of 13.8% over the previous record
                        achieved in fiscal 2006), record diluted earnings per share of $2.42 (an
                        increase of 40.7% over the previous record achieved in fiscal 2006), and
                        other corporate performance measures. Our ECC also considered elements of
                        our business important for our future success, including progress in
                        product development and research and development and management of our
                        corporate growth. One-, three-, five- and ten-year total stockholder
                        return, annualized, as of the end of the 2007 fiscal year was 57%,
                        49%,&nbsp;60% and 46%, respectively, a reflection of this strong
                        performance. Accordingly, our ECC did not exercise its discretion to reduce
                        the level of discretionary annual incentive payouts based on performance
                        considerations. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">After considering all
                        of the above, our ECC approved total non-equity incentive plan compensation
                        of $3,766,260 for our CEO which consists of $625,000 payable under our
                        CEO&rsquo;s employment contract and an additional amount of $3,141,260
                        payable as a cash-incentive award pursuant to our 2000 Stock Incentive
                        Plan. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><i><u>Our COO&rsquo;s
                        Fiscal 2007 Non-Equity Incentive Plan Award</u></i> <i>&nbsp;-</i>
                        &nbsp;The employment agreement in effect for fiscal 2007 entitled our COO
                        to receive a non-discretionary annual incentive payment, not to exceed his
                        base salary, equal to 1.5% of our pre-tax income, plus such additional
                        amounts of compensation as our ECC may determine at its discretion. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">We structured the
                        additional amounts of compensation for fiscal 2007 in a way similar to that
                        of our CEO, except the specified percentage of pre-tax income was 1.5%. In
                        determining the additional amount of compensation payable, our COO
                        requested that the payout be reduced with the amount of such reduction
                        reallocated to our overall company bonus pool. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">14 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">After considering our
                        financial performance (in the same manner as considered for our CEO) and
                        its positive assessment of &nbsp;the individual performance of our COO, our
                        ECC approved total non-equity incentive plan compensation of $1,289,943 for
                        our COO which consists of $370,000 payable under our COO&rsquo;s employment
                        contract and an additional amount of $919,943 (net of a reallocation to
                        other employees of $291,000) payable as a cash-incentive award pursuant to
                        our 2000 Stock Incentive Plan. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><i><u>Our CFO&rsquo;s
                        Fiscal 2007 Non-Equity Incentive Plan Award</u> -</i> Our ECC approved a
                        discretionary non-equity incentive plan award of $400,000 to our CFO based
                        on his performance in fiscal 2007. In exercising its discretion, the ECC
                        took into account the positive assessment of our CFO&rsquo;s performance by
                        our CEO and COO, as well as its own positive assessment arising out of our
                        CFO&rsquo;s direct interactions with our Board of Directors. The level of
                        the award, representing 154% of base salary, was intended to recognize our
                        CFO&rsquo;s accomplishments in fiscal 2007 in developing the finance
                        department to keep pace with our Company&rsquo;s rapid growth, and in
                        meeting other challenges resulting from such growth and rapidly changing
                        accounting and corporate governance requirements. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2"><i><u>Other NEOs&rsquo;
                        Fiscal 2007 Non-Equity Incentive Plan Awards</u></i> <i>&nbsp;-</i> Annual
                        incentives for other NEOs are calculated based on the pre-tax incomes of
                        the operations for which they each are responsible, but such amounts become
                        payable only if pre-set performance goals have been met. These performance
                        goals were developed by our CEO and COO and approved by our ECC. For each
                        of these executives, four performance goals were specified: operating
                        profit, free cash flows, new orders, and personal goals relating to the
                        operations under the executive&rsquo;s supervision. We set these specific
                        performance goals to focus their performance on factors that are important
                        to the success of the businesses they oversee. As discussed below, under
                        the caption &ldquo;Additional Information Relating to Summary Compensation
                        Table and Grants of Plan-Based Awards Table,&rdquo; our&nbsp;ECC approved
                        fiscal 2007 non-equity incentive plan awards of $800,000 for the President
                        of Comtech EF Data Corp. and $377,408 for the President of Comtech Systems,
                        Inc. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><i>Long-Term
                    Incentives</i>. We provide a substantial portion of compensation to our
                    executive officers as long-term incentive compensation, through annual grants
                    of stock options under our 2000 Stock Incentive Plan. The stock options align
                    the executives&rsquo; interests with those of our stockholders by providing
                    each executive with an opportunity to share in the appreciation of the value of
                    our Common Stock. Options are granted with an exercise price equal to market
                    price on the date of grant. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    level of annual grants of stock options, for each respective NEO, has been
                    determined by our ECC in its discretion, on a subjective basis. The vesting
                    terms of the stock options, requiring three years of service in order to fully
                    vest and with 50% of the options vesting at the end of the third year, provide
                    a strong inducement for our executive officers to remain in long-term service
                    to our Company. Our ECC generally values the options as a component of total
                    compensation based on the Black-Scholes fair value calculated for purposes of
                    SFAS 123(R). This amount for options granted in fiscal 2007 is reflected in the
                    Grants of Plan-Based Awards table, below. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our ECC
                    values options as a component of compensation when the options are being
                    granted. The in-the-money value of unvested options represents one of our
                    strongest tools for retention of executives; however, our ECC does not alter
                    the level of its grants based on the built-up value of previously granted
                    options or value realized by executives by exercising previously granted
                    options. When executives experience a build-up in value of options as a result
                    of increasing market prices of stock, the benefits are aligned with the return
                    experienced by stockholders. Conversely, historically we have not issued
                    increased numbers of options when the build-up in value of previously granted
                    options was modest or previously granted options were underwater. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">15 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Changes to Employment
                    Agreements in Fiscal 2008
                    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                    &nbsp;</i></b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Effective with fiscal 2008,
                    we have agreed with our CEO and COO to certain changes to their employment
                    agreements. We agreed to increase base salaries under the employment agreements
                    for our CEO from $625,000 to $675,000 per year and for our COO from $370,000 to
                    $385,000 per year. The increase in salary for our CEO was authorized at a level
                    exceeding the usual merit increase, in part, in view of the fact that our
                    CEO&rsquo;s rights to perquisites for financial planning services under the
                    revised agreement were reduced by $35,000 per year. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    connection with these changes, our CEO and COO agreed to modify the annual
                    incentive provisions of their employment agreements. Each agreed to reduce the
                    formula for annual incentive, from 3.5% of pre-tax income to 3.0% of pre-tax
                    income in the case of our CEO and from 1.5% of pre-tax income to 1.0% of
                    pre-tax income in the case of our COO. We sought this change in view of the
                    growth in absolute levels of our pre-tax incomes due to sustained corporate
                    performance, which in fact is attributable in large measure to the leadership
                    of our management team. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    addition, our CEO agreed to limit the amount of the non-discretionary annual
                    incentive provided under his agreement to an amount that does not cause us to
                    lose a tax deduction under Section 162(m) of the Internal Revenue Code. This
                    modification potentially will save taxes while effectively putting a greater
                    portion of his annual incentive at risk based on our ECC&rsquo;s discretion.
                    Our COO also agreed&nbsp;to structure his annual incentive mandated by the
                    employment agreement in the same way. However, because the previous cap on his
                    mandated annual incentive was equal to one times salary and his salary was less
                    than $500,000, the new limit providing that salary plus annual incentive under
                    the agreement will not exceed the $1 million limit specified under Code Section
                    162(m) in effect increases the portion of his annual incentive potentially
                    payable under the contract. This is offset by the 33% reduction in the rate
                    specified in his annual incentive formula. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Other
                    changes to the employment agreements are described below under the captions
                    &ldquo;Additional Information Relating to Summary Compensation Table and Grants
                    of Plan-Based Awards Table&rdquo; and &ldquo;Potential Termination and
                    Change-in-Control Payments.&rdquo; &nbsp;Such changes were primarily intended
                    to clarify the provisions and respond to changes in accounting and tax rules,
                    particularly to meet the requirements of Section 409A of the Internal Revenue
                    Code regulating post-termination payments. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Our Severance and
                    Change-in-Control Policies</i></b> &nbsp; </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Severance protection is
                    provided to our CEO and COO under the terms of their employment agreements, and
                    to the other NEOs under change-in-control agreements which became effective in
                    fiscal 2008. These protections are designed to be fair and competitive, to aid
                    in attracting and retaining experienced executives. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">With
                    respect to terminations prior to a change-in-control, the employment agreements
                    provide for severance payments if termination is by us without cause, but the
                    other NEOs are not covered by contract terms or a severance policy for any
                    pre-change-in-control termination. This reflects our judgment that, for the two
                    most senior executive officers, an employment agreement providing them with
                    severance and related protections in the event we terminate their employment
                    without cause is advantageous to us in that the agreement encourages their
                    long-term retention and provides us with strong business protection covenants,
                    including non-competition covenants. The employment agreements provide that
                    severance payments are increased should the executive be terminated without
                    cause or terminate (at his election in the case of our CEO or for good reason
                    in the case of our COO) within a specified period of one or two years after a
                    change-in-control. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    change-in-control agreements likewise provide for severance payments upon a
                    termination by us without cause or by the executive for good reason in the
                    12-month period after a change-in-control. This protection provides a number of
                    important benefits to us. First, it permits an executive to evaluate a
                    potential change-in-control transaction while relatively free of concern for
                    his or her own situation, minimizing the conflict between his or her own
                    interests and those of our stockholders. Second, change-in-control transactions
                    take time to unfold, and a stable management team can help to preserve our
                    operations in order to enhance the value delivered to the buyer &ndash; and
                    thus the price paid to our stockholders &ndash; from a transaction. Or, if a
                    transaction falls through, keeping our management team intact can help us to
                    continue our business without undue disruption. None of these agreements
                    provides for a gross-up payment for any excise taxes. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">16 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    stock option plans provide for acceleration of vesting upon a
                    change-in-control, but in circumstances in which the options will be assumed
                    without diminished value and be exercisable for a public company&rsquo;s stock,
                    our ECC can determine that the vesting of the options will not
                    accelerate. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We
                    believe that the potential cost of executive change-in-control severance
                    payments and accelerated vesting of stock options, as a percentage of any
                    potential transaction price, would be well within the range of reasonable
                    industry practice, and represents an appropriate cost relative to the benefits
                    to us and our stockholders. </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>Tax Deductibility
                    of Executive Compensation</i></b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2">Section&nbsp;162(m) of the
                    Internal Revenue Code subjects public companies to limits on the deductibility
                    of certain executive compensation. It limits our tax deductions for
                    compensation paid in excess of $1 million per year to each person who is, at
                    the end of the fiscal year, the CEO or one of the three other most highly
                    compensated officers listed in the Summary Compensation Table, but excluding
                    the CFO. Certain forms of compensation are exempt from this deductibility
                    limit, one of which is qualifying &ldquo;performance-based
                    compensation.&rdquo; </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We
                    believe that, except for a portion of the non-discretionary bonus paid to our
                    CEO for fiscal 2007 performance, annual incentives paid with respect to fiscal
                    2007 performance and compensation resulting from stock options granted in
                    fiscal 2007 should be deductible without limitation under Section 162(m).
                    Certain taxable fringe benefits paid to our CEO for fiscal 2007 also were
                    non-deductible by us under Section 162(m). </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our ECC
                    retains authority and discretion to authorize compensation that may be
                    non-deductible, and may do so in circumstances in which it concludes that
                    payment of such compensation serves to enhance our Company&rsquo;s ability to
                    attract, retain and appropriately reward executives and therefore is in the
                    best interests of our Company and its stockholders. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">17 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a7"></a>EXECUTIVE
                    COMPENSATION</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    table below provides information concerning the compensation of our NEO&rsquo;s
                    for the fiscal year ended July 31, 2007. </font></p>

                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Summary Compensation
                    Table for Fiscal 2007</b> </font></p>
                </td>
            </tr>

            <tr>
                <td><font size="1">&nbsp;&nbsp; </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600">
            <tr>
                <td valign="bottom" align="center">&nbsp;</td>

                <td valign="bottom" align="center" colspan="19">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td valign="bottom" align="center">&nbsp;</td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>Name and<br>
                Principal Position</strong> </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>Salary</strong> </font>
                </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>Bonus</strong> </font>
                </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>(1)</strong>
                <strong><br>
                Option Awards</strong> </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>Non-Equity<br>
                Incentive Plan<br>
                Compensation</strong> </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>(2)</strong>
                <strong><br>
                All Other Compensation</strong> </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, serif" size="2"><strong>Total</strong> </font>
                </td>

                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td colspan="19">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top" width="5%" bgcolor="#ffffff">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Fred
                Kornberg<br>
                Chairman,<br>
                Chief Executive<br>
                Officer and President </font> </td>

                <td valign="top" width="1%">&nbsp;</td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="top" align="right" width="7%">
                <font face="Times New Roman, Times, serif" size="2">625,000 </font> </td>

                <td valign="top" width="3%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="right" width="6%">
                <font face="Times New Roman, Times, serif" size="2">&mdash; </font> </td>

                <td valign="top" width="3%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="top" align="right" width="9%">
                <font face="Times New Roman, Times, serif" size="2">1,406,906 </font> </td>

                <td valign="top" width="3%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="top" align="right" width="11%">
                <font face="Times New Roman, Times, serif" size="2">3,766,260 </font> </td>

                <td valign="top" width="3%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="top" align="right" width="11%">
                <font face="Times New Roman, Times, serif" size="2">97,403 </font> </td>

                <td valign="top" width="3%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="top" align="right" width="7%">
                <font face="Times New Roman, Times, serif" size="2">5,895,569 </font> </td>

                <td valign="top" width="1%">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Robert G.
                Rouse<br>
                Executive Vice<br>
                President and Chief<br>
                Operating Officer </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">370,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">&mdash; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">586,917 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">1,289,943 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">21,786 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">2,268,646 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top" bgcolor="#ffffff">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Michael D.
                Porcelain<br>
                Senior Vice President<br>
                and Chief Financial<br>
                Officer </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">260,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">&mdash; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">276,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">400,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">14,537 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">950,537 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Richard L.
                Burt<br>
                Senior Vice President;<br>
                President of Comtech<br>
                Systems, Inc. </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">335,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">&mdash; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">390,205 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">377,408 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">11,880 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">1,114,493 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>

                <td valign="top" align="right">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top" bgcolor="#ffffff">&nbsp;</td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Robert L.
                McCollum<br>
                Senior Vice President;<br>
                President Comtech<br>
                EF Data Corp. </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">355,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">&mdash; </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">332,374 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">800,000 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">25,846 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="2">1,513,220 </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td colspan="19">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" colspan="3"><font size="1">&nbsp;&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">These amounts reflect
                        the amount of expense we recognized for financial statement reporting
                        purposes for fiscal 2007, in accordance with SFAS 123(R), for stock
                        options, without regard to estimated forfeitures of such options. These
                        amounts include expense from options granted in fiscal years 1998 through
                        2006 which remained unvested at any time in fiscal 2007, as well as the
                        options granted during fiscal 2007. Assumptions used in the calculation of
                        these amounts for options granted in the 2005, 2006 and 2007 fiscal years
                        are discussed in Note 1(j) to our audited financial statements for the
                        fiscal year ended July 31, 2007, included in our Annual Report on Form 10-K
                        filed with the SEC on September 19, 2007. For assumptions used in the
                        calculation of expense for options granted prior to fiscal 2005, refer to
                        the note relating to the stock-based compensation in the Form 10-K for the
                        respective year-end. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(2) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">The table below shows
                        the items comprising &ldquo;All Other Compensation&rdquo;, which include
                        our matching contributions for each NEO participating in our 401(k) plan,
                        premiums for term life insurance for NEOs paid directly by us, automobile
                        allowances, financial planning services and unused vacation time paid out
                        by us. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <td align="center" colspan="19">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left">
                <strong><font face="Times New Roman, Times, serif" size="1">Name </font></strong>
                </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <strong><font face="Times New Roman, Times, serif" size="1">401(k) Matching<br>
                Contribution </font></strong> </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <strong><font face="Times New Roman, Times, serif" size="1">Term Life<br>
                Insurance </font></strong> </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <strong><font face="Times New Roman, Times, serif" size="1">Automobile<br>
                Allowance </font></strong> </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <strong><font face="Times New Roman, Times, serif" size="1">Financial<br>
                Planning<br>
                Services </font></strong> </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <b><font face="Times New Roman, Times, serif" size="1">Unused<br>
                Vacation<br>
                Time<br>
                Paid Out </font></b> </td>

                <td align="left">&nbsp;</td>

                <td align="center" colspan="2">
                <strong><font face="Times New Roman, Times, serif" size="1">Total<br>
                &ldquo;All Other<br>
                Compensation&rdquo; </font></strong> </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr>
                <td align="left" colspan="19">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Fred
                Kornberg </font> </td>

                <td align="left" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="8%">
                <font face="Times New Roman, Times, Serif" size="2">2,000 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="7%">
                <font face="Times New Roman, Times, Serif" size="2">24,579 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="9%">
                <font face="Times New Roman, Times, Serif" size="2">2,792 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="7%">
                <font face="Times New Roman, Times, Serif" size="2">38,212 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="7%">
                <font face="Times New Roman, Times, Serif" size="2">29,820 </font> </td>

                <td align="left" width="3%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="8%">
                <font face="Times New Roman, Times, Serif" size="2">97,403 </font> </td>

                <td align="left" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert G.
                Rouse </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">2,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">758 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">2,798 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">16,230 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">21,786 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Michael D.
                Porcelain </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">2,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">594 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">11,943 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">14,537 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Richard L.
                Burt </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">2,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">9,880 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">11,880 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert L.
                McCollum </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">2,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">4,192 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">6,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">13,654 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">25,846 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td align="right" colspan="19">
                    <hr noshade size="1">
                </td>

                <td>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">18 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a8"></a>GRANTS
                    OF PLAN-BASED AWARDS FOR FISCAL 2007</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600">
            <tr valign="bottom" align="center">
                <td>&nbsp;</td>

                <td>&nbsp;</td>

                <td colspan="8" rowspan="4">
                <font face="Times New Roman, Times, serif" size="1"><strong>(1)<br>
                Estimated Future Payouts</strong> <strong><br>
                Under Non-Equity</strong> <strong><br>
                Incentive Plan Awards</strong> </font> </td>

                <td rowspan="6"><font size="1">&nbsp; </font> </td>

                <td rowspan="6">
                <font face="Times New Roman, Times, serif" size="1"><strong>(2)</strong>
                <strong><br>
                All Other<br>
                Awards:<br>
                Number of<br>
                Securities<br>
                Underlying<br>
                Options</strong> </font> </td>

                <td rowspan="6"><font size="1">&nbsp; </font> </td>

                <td rowspan="6">
                <font face="Times New Roman, Times, serif" size="1"><strong>Exercise<br>
                or Base<br>
                Price of<br>
                Option<br>
                Awards<br>
                ($/share)</strong> </font> </td>

                <td rowspan="6"><font size="1">&nbsp; </font> </td>

                <td rowspan="6"><font face="Times New Roman, Times, serif" size="1"><strong>Grant
                Date<br>
                Fair Value<br>
                of Stock<br>
                and Option<br>
                Awards</strong> </font> </td>
            </tr>

            <tr valign="bottom" align="center">
                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr valign="bottom" align="center">
                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr valign="bottom" align="center">
                <td><font size="1">&nbsp; </font> </td>

                <td><font size="1">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" align="center">
                <td>&nbsp;</td>

                <td>&nbsp;</td>

                <td>&nbsp;</td>

                <td colspan="7">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr valign="bottom" align="center">
                <td>
                <font face="Times New Roman, Times, serif" size="1"><strong>Name</strong> </font>
                </td>

                <td><font face="Times New Roman, Times, serif" size="1"><strong>Grant
                Date</strong> </font> </td>

                <td><font size="1">&nbsp; </font> </td>

                <td><font face="Times New Roman, Times, serif" size="1"><strong>Threshold<br>
                ($)</strong> </font> </td>

                <td><font size="1">&nbsp; </font> </td>

                <td colspan="3">
                <font face="Times New Roman, Times, serif" size="1"><strong>Target</strong>
                <strong><br>
                ($)</strong> </font> </td>

                <td><font size="1">&nbsp; </font> </td>

                <td><font face="Times New Roman, Times, serif" size="1"><strong>Maximum<br>
                </strong><strong>($)</strong> </font> </td>
            </tr>

            <tr>
                <td valign="top" colspan="17">
                    <hr noshade size="1">
                </td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">Fred
                Kornberg </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Oct. 9, 2006 </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" width="9%">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">$2,812,533 (3) </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" width="9%">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" width="9%">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" width="9%">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center" width="2%"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" width="9%">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Aug. 1, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">120,000 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">$26.90 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">$1,264,761 </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center" colspan="3">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">Robert G.
                Rouse </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Oct. 9, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">1,189,903 (3) </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Aug. 1, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">50,000 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">26.90 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">526,984 </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center" colspan="3">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">Michael D.
                Porcelain (4) </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Aug. 1, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">25,000 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">26.90 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">263,492 </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center" colspan="3">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">Richard L.
                Burt </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Oct. 9, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">273,880 (3) </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Aug. 1, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">20,000 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">26.90 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">210,794 </font> </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center" colspan="3">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>

                <td valign="top" align="center">&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">Robert L.
                McCollum </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Oct. 9, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">1,257,451 (3) </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">N/A </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td valign="top"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">Aug. 1, 2006 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center" colspan="3">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&mdash; </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">15,000 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">26.90 </font> </td>

                <td valign="top" align="center"><font size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">158,095 </font> </td>
            </tr>

            <tr>
                <td valign="top" colspan="16"><font size="1">&nbsp;&nbsp;&nbsp; </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" colspan="2"><font size="1">&nbsp;&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">As required by SEC
                        proxy disclosures rules, the target levels shown above represent the
                        amounts that would have been payable for fiscal 2007 assuming the
                        applicable pre-tax income or incomes were the same as achieved in fiscal
                        2006. The actual payouts for fiscal 2007 for non-equity incentive plan
                        awards are reflected in the Summary Compensation Table for Fiscal 2007
                        under the column &ldquo;Non-Equity Incentive Plan Compensation.&rdquo; The
                        awards for Messrs. Kornberg, Rouse and McCollum, were granted under our
                        2000 Stock Incentive Plan, and as applicable, Messrs. Kornberg and
                        Rouse&rsquo;s employment agreements. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">(2) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Each option granted to
                        NEOs in fiscal 2007 vests as to 25% of the underlying shares on each of the
                        first and second anniversaries of the grant date, and as to the remaining
                        50% of the underlying shares on the third anniversary of the grant date.
                        The options granted are subject to accelerated vesting in the event of a
                        change-in-control. Prior to August 1, 2007, the options granted to Mr.
                        Kornberg were subject to accelerated vesting and a right to compel us to
                        cash-out the option in the event of termination of his employment by us
                        without cause or termination of employment by either party in certain cases
                        after a change-in-control. Mr. Kornberg&rsquo;s new employment agreement
                        does not provide for an option cash-out right. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, Serif" size="2">(3) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">This non-equity
                        incentive award was payable as a percentage of pre-tax income of our
                        Company or certain of its subsidiaries, subject to certain adjustments. The
                        awards for Messrs. Kornberg, Rouse, Burt and McCollum did not have any
                        thresholds or maximums. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">(4) </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">The non-equity
                incentive plan award to Mr. Porcelain did not have any threshold, target or
                maximum. </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">19 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Additional Information
                    Relating to Summary Compensation Table and Grants of Plan-Based Awards
                    Table</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    following provides background information to give a better understanding of the
                    compensation amounts shown in the Summary Compensation Table and Grants of
                    Plan-Based Awards Table above. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><em><b>Fred
                    Kornberg</b></em> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><em>Employment
                    Agreement</em> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We
                    employ Mr. Kornberg on terms specified in his employment agreement which,
                    during fiscal 2007, had terms pursuant to an amendment and restatement in June
                    2003. As in effect in fiscal 2007, the agreement provided for Mr.
                    Kornberg&rsquo;s employment until July 31, 2008; provided, however, that the
                    employment period would be automatically extended for successive two-year
                    periods unless either party had given notice of non-extension to the other at
                    least six months in advance of the scheduled termination date. The base salary
                    under the agreement for fiscal 2007 had been set by our ECC at $625,000 per
                    annum. The agreement permitted base salary to be increased from time to time by
                    our ECC. The agreement also provided for incentive compensation, in an amount
                    not to exceed the base salary, equal to 3.5% of our Company&rsquo;s pre-tax
                    income, plus such additional amounts as our ECC may from time to time
                    determine. The agreement also called for our Company to pay for term life
                    insurance in the amount of five times base salary (but not less than $2.5
                    million), to reimburse Mr. Kornberg for financial planning services and, for
                    Mr. Kornberg to participate in our benefit plans and programs for executives.
                    The agreement also provided that our Company would pay Mr. Kornberg&rsquo;s
                    reasonable attorney&rsquo;s fees and disbursements in any action to enforce
                    provisions of the agreement. Termination provisions of this agreement are
                    described under the caption &ldquo;Potential Termination and Change-in-Control
                    Payments&rdquo; below. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Kornberg&rsquo;s employment agreement includes covenants for the protection of
                    our business, including a non-competition covenant and a prohibition on
                    soliciting or hiring our employees, that remain in effect for two years
                    following termination of employment (whether before or after a
                    change-in-control). The agreement also restricts his use and disclosure of
                    confidential information and obligates him not to disparage us following
                    termination of employment. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    September 2007, we entered into a revised employment agreement with Mr.
                    Kornberg. The new agreement provides that his base salary will be $675,000 per
                    year, and the annual incentive payable under the agreement will be 3.0% of
                    pre-tax income, capped at an amount which, when combined with base salary
                    expected to be payable in the same year, will not exceed $1 million. The
                    agreement calls for our Company to provide an automobile or automobile
                    allowance at levels comparable to those provided in fiscal 2007 and term life
                    insurance in an amount of five times base salary, but not less than $3.5
                    million. The agreement also provides that Mr. Kornberg will participate in our
                    benefit plans and programs for executives, and that&nbsp;we would pay his
                    reasonable attorney&rsquo;s fees and disbursements in any action to enforce
                    provisions of the agreement. The new agreement contains the same
                    non-competition and related covenants for the protection of our business as
                    were in Mr. Kornberg&rsquo;s old agreement, as described above. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><em>Non-Equity Incentive
                    Plan Compensation</em> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    amounts shown in the two tables above as Non-Equity Incentive Plan Compensation
                    result from cash-based annual incentive awards to Mr. Kornberg including
                    amounts payable as a discretionary cash incentive award under our 2000 Stock
                    Incentive Plan and a mandatory amount payable under the terms of Mr.
                    Kornberg&rsquo;s employment agreement. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    aggregate, the non-equity incentive plan compensation was payable based on 3.5%
                    of our pre-tax income (as defined and discussed above under the caption
                    &ldquo;Compensation Discussion and Analysis&rdquo;) in fiscal 2007. Under this
                    formula, there is no designated &ldquo;target&rdquo; or &ldquo;threshold&rdquo;
                    or &ldquo;maximum&rdquo; payout level. The target level shown in the Grants of
                    Plan-Based Awards table represents the amount that would have been payable for
                    fiscal 2007 assuming pre-tax income for the year was the same as achieved in
                    fiscal 2006 (as required under SEC proxy disclosure rules). Our ECC did not
                    exercise its discretion to reduce the level of annual incentive payouts based
                    on performance considerations. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">20 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2"><b><i>Robert G.
                Rouse</i></b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2"><em>Employment
                Agreement</em> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">We employ Mr. Rouse on
                        terms specified in his employment agreement which, during fiscal 2007, had
                        terms pursuant to an amendment and restatement in June 2003. As in effect
                        in fiscal 2007, the agreement provided for Mr. Rouse&rsquo;s employment
                        until July 31, 2007; provided, however, that the employment period would be
                        automatically extended for successive one-year periods unless either party
                        had given notice of non-extension to the other at least six months in
                        advance of the then scheduled expiration date. No notice had been given
                        with respect to the July 31, 2007 scheduled expiration date, and
                        accordingly the agreement automatically extended through July 31,
                        2008.&nbsp;The base salary under the agreement for fiscal 2007 had been set
                        by our ECC at $370,000 per annum. This base salary could be increased from
                        time to time by our ECC. The agreement also provided for incentive
                        compensation, in an amount not to exceed the base salary, equal to 1.5% of
                        our Company&rsquo;s pre-tax income, plus such additional amounts as our ECC
                        may from time to time determine. The agreement also called for our Company
                        to pay for term life insurance in the amount of three times base salary
                        (but not less than $1 million), and provided for Mr. Rouse to participate
                        in our benefit plans and programs for executives. Termination provisions of
                        this agreement are described under the caption &ldquo;Potential Termination
                        and Change-in-Control Payments&rdquo; below. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Rouse&rsquo;s employment agreement includes covenants for the protection of our
                    business, including a non-competition covenant and a prohibition on soliciting
                    or hiring our employees, that remain in effect for one year following
                    termination of employment (whether before or after a change-in-control). The
                    agreement also restricts his use and disclosure of confidential information and
                    obligates him not to disparage us following termination of
                    employment. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    September 2007, we entered into a revised employment agreement with Mr. Rouse.
                    The new agreement provides that his base salary will be $385,000 per year, and
                    the annual incentive payable under the agreement will be 1.0% of pre-tax
                    income, capped at an amount which, when combined with base salary expected to
                    be payable in the same year, will not exceed $1 million. The agreement provides
                    for Mr. Rouse to participate in all employee benefit plans maintained by us for
                    senior management and to receive all fringe benefits and perquisites generally
                    provided by us to members of senior management. The new agreement contains the
                    same non-competition and related covenants for the protection of our business
                    as were in&nbsp;Mr. Rouse&rsquo;s old agreement, as described above. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><em>Non-Equity Incentive
                    Plan Compensation</em> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    amounts shown in the two tables above as Non-Equity Incentive Plan Compensation
                    result from cash-based annual incentive awards to Mr. Rouse including amounts
                    payable as a discretionary cash incentive award under&nbsp;our 2000 Stock
                    Incentive Plan and a mandatory amount payable under the terms of Mr.
                    Rouse&rsquo;s employment agreement. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    aggregate, the non-equity incentive plan compensation was payable based on 1.5%
                    of our pre-tax income (as defined and discussed above under the caption
                    &ldquo;Compensation Discussion and Analysis&rdquo;) in fiscal 2007. Under this
                    formula, there is no designated &ldquo;target&rdquo; or &ldquo;threshold&rdquo;
                    or &ldquo;maximum&rdquo; payout level. The target level shown in the Grants of
                    Plan-Based Awards table represents the amount that would have been payable for
                    fiscal 2007 assuming pre-tax income for the year was the same as achieved in
                    fiscal 2006 (as required under SEC proxy disclosure rules). </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    final annual incentive award amount was further adjusted by our ECC. Our ECC
                    consulted with Mr. Rouse regarding his annual incentive award for fiscal 2007
                    and he asked the ECC to consider making a downward adjustment to his annual
                    incentive so that the amounts not paid due to this adjustment could be
                    reallocated to other employees&rsquo; fiscal 2007 bonuses. Our ECC
                    reduced&nbsp;Mr. Rouse&rsquo;s final annual incentive amount by $291,000 for
                    this purpose. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">21 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Michael D.
                    Porcelain</i></b> </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2"><em>Non-Equity Incentive
                    Plan Compensation</em> &nbsp; </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    amount shown as non-equity incentive plan compensation paid to Mr. Porcelain
                    was determined by our ECC, based on an assessment of his performance (including
                    significant input from our CEO and COO). While the level of pre-tax income is
                    one consideration, the amount awarded to our CFO is not directly linked to
                    pre-tax income. This is a reflection of the fact that our CFO plays a
                    significant role in the integrity and oversight of our financial reporting, so
                    that his incentives to perform well in that role should not solely be tied to
                    the reporting of positive news. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Richard L.
                    Burt</i></b> </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><em>Non-Equity Incentive
                    Plan Compensation</em> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    annual incentive payable to Mr. Burt, who is a subsidiary president, was
                    payable under a pre-set cash incentive award. The target level shown for Mr.
                    Burt in the Grants of Plan-Based Awards table represents the amount that would
                    have been payable for fiscal 2007 assuming pre-tax income for the year was the
                    same as achieved in fiscal 2006 for the operations he was responsible for. The
                    applicable performance goals were developed by our CEO and COO and approved by
                    our ECC. For Mr. Burt, the cash incentive award authorized for fiscal 2007 was
                    to equal 2.25%&nbsp;of the pre-tax income for target level performance with
                    respect to four factors: operating profit,&nbsp;free cash flows, new orders,
                    and personal goals relating to the operations under Mr. Burt&rsquo;s
                    supervision. The maximum annual incentive would be 3.09% of such pre-tax
                    profit. The same adjustment items apply to this pre-tax income as described
                    above under the caption &ldquo;Compensation Discussion and Analysis&rdquo;.
                    Under the pre-set terms of the performance goals, actual performance resulted
                    in achievement at a rate of 74.01%, so that, as a preliminary calculation, the
                    annual incentive was potentially earned at a rate of 1.67% of the specified
                    pre-tax profit, which figure was used to determine the final 2007 annual
                    incentive payable to Mr. Burt. Our&nbsp;ECC did not exercise its discretion to
                    reduce the level of annual incentive payouts based on performance
                    considerations. </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2"><b><i>Robert L.
                    McCollum</i></b> </font></p>

                    <p><font face="Times New Roman, Times, Serif" size="2"><em>Non-Equity Incentive
                    Plan Compensation</em> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    annual incentive payable to Mr. McCollum, who is a subsidiary president, was
                    payable under a pre-set cash incentive award. The target level shown for Mr.
                    McCollum in the Grants of Plan-Based Awards table represents the amount that
                    would have been payable for fiscal 2007 assuming pre-tax income for the year
                    was the same as achieved in fiscal 2006 for the operations he was responsible
                    for. The applicable performance goals were developed by our CEO and COO and
                    approved by our ECC. For Mr. McCollum, the cash incentive award authorized for
                    fiscal 2007 was to equal 2.00%&nbsp;of pre-tax income for target level
                    performance with respect to four factors: operating profit, free cash flows,
                    new orders, and personal goals relating to the&nbsp;operations under Mr.
                    McCollum&rsquo;s supervision. The maximum annual incentive would be 2.75% of
                    such pre-tax profit. The same adjustment items apply to this pre-tax income as
                    described above under the caption &ldquo;Compensation Discussion and
                    Analysis&rdquo;. Under the pre-set terms of the performance goals, actual
                    performance resulted in achievement at a rate of 91.45%, so that, as a
                    preliminary calculation, the annual incentive was potentially earned at a rate
                    of 1.83% of the specified pre-tax profit, which figure was used to determine
                    the final 2007 annual incentive payable to Mr. McCollum. Our ECC consulted with
                    Mr. McCollum regarding his annual incentive award for fiscal 2007. He asked our
                    ECC to consider making a downward adjustment to his annual incentive so that
                    the amounts not paid due to this adjustment could be reallocated to other
                    employees&rsquo; fiscal 2007 bonuses. Our ECC reduced Mr. McCollum&rsquo;s
                    final annual incentive amount by $85,000 for this purpose. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">22 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="bottom" align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a9"></a>OUTSTANDING
                EQUITY AWARDS AT FISCAL YEAR-END &ndash; FISCAL 2007</b> </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th>
                </th>

                <th colspan="13">
                    <hr noshade size="1">
                </th>

                <th>
                </th>
            </tr>

            <tr valign="bottom">
                <th>
                </th>

                <th colspan="13"><font face="Times New Roman, Times, serif" size="1">Option
                Awards </font> </th>

                <th>
                </th>
            </tr>

            <tr valign="bottom">
                <th>
                </th>

                <th colspan="13">
                    <hr noshade size="1">
                </th>

                <th>
                </th>
            </tr>

            <tr valign="bottom">
                <th><font face="Times New Roman, Times, serif" size="1">Name </font> </th>

                <th><font face="Times New Roman, Times, serif" size="1">Number of<br>
                Securities<br>
                Underlying<br>
                Unexercised<br>
                Options (#)<br>
                Exercisable (1) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman, Times, serif" size="1">Number of<br>
                Securities<br>
                Underlying<br>
                Unexercised<br>
                Options (#)<br>
                Unexercisable (1) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman, Times, serif" size="1">Grant<br>
                Date (1) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman, Times, serif" size="1">Option<br>
                Exercise<br>
                Price<br>
                ($) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman, Times, serif" size="1">Option<br>
                Expiration<br>
                Date  </font> </th>

                <th>
                </th>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="14">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Fred Kornberg </font> </td>

                <td align="right" width="12%"><font face="Times New Roman" size="2">&mdash; </font>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="12%"><font face="Times New Roman" size="2">120,000 </font>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="10%"><font face="Times New Roman" size="2">8/1/2006 </font>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="7%"><font face="Times New Roman" size="2">26.90 </font>
                </td>

                <td align="left" width="4%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="10%"><font face="Times New Roman" size="2">8/1/2011 </font>
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">26,250 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">78,750 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2005 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">35.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">94,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2004 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">13.19 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2014 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">63,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2003 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11.67 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2013 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">31,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2002 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3.58 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2012 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Robert G. Rouse </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">50,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2006 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">26.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2011 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11,250 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">33,750 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2005 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">35.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">23,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">36,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2004 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">13.19 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2014 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">24,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2003 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11.67 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2013 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">18,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2002 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3.58 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2012 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Michael D. Porcelain </font>
                </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">25,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2006 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">26.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2011 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">5,250 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">15,750 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2005 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">35.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1,563 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">15,525 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2004 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">13.19 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2014 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3,045 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2003 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11.67 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2013 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,197 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3/14/2002 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">5.73 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3/14/2012 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Richard L. Burt </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">20,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2006 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">26.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2011 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">7,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">22,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2005 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">35.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">24,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">36,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2004 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">13.19 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2014 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">22,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">22,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2003 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11.67 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2013 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">22,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11,250 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2002 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3.58 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2012 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">6,750 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/7/2001 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">6.33 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/7/2011 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">10,125 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">12/12/2000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">5.06 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">12/12/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Robert L. McCollum </font>
                </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">15,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2006 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">26.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/1/2011 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">15,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2005 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">35.90 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2010 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">36,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2004 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">13.19 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/2/2014 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">22,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2003 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11.67 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/4/2013 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2002 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3.58 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8/6/2012 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">67,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1/14/1998 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1.33 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1/14/2008 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="14">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" colspan="3"><font size="1">&nbsp;&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Each option granted
                        since August 1, 2005 vests as to 25% of the underlying shares on each of
                        the first and second anniversaries of the grant date, and as to the
                        remaining 50% of the underlying shares on the third anniversary of the
                        grant date. Each option granted prior to August 1, 2005 vests as to 20% of
                        the underlying shares on each of the first five anniversaries of the grant
                        date, with the exception of the stock option granted to Mr. McCollum on
                        January 14, 1998, which vests 30 days prior to the option expiration date.
                        The options granted are subject to accelerated vesting in the event of a
                        change-in-control, and until July 31, 2007, the options granted to Mr.
                        Kornberg were subject to a right to compel us to cash out the option in the
                        event of termination of his employment by us&nbsp;without cause or&nbsp;
                        termination of employment by either party after a change-in-control. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">23 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a10"></a>OPTION
                    EXERCISES &ndash; FISCAL 2007</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th>&nbsp;</th>

                <th>&nbsp;</th>

                <th colspan="5">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th><font size="1">&nbsp; </font> </th>

                <th><font face="Times New Roman" size="2">&nbsp; </font> </th>

                <th colspan="5"><font face="Times New Roman" size="2">OPTION AWARDS </font> </th>

                <th><font size="1">&nbsp; </font> </th>

                <th><font size="1">&nbsp; </font> </th>
            </tr>

            <tr valign="bottom">
                <th>&nbsp;</th>

                <th>
                </th>

                <th colspan="5">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th>&nbsp;</th>

                <th align="left"><font face="Times New Roman" size="2">Name of Executive
                Officer </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">Number of Shares<br>
                Acquired on Exercise </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">(1)<br>
                Value Realized<br>
                on Exercise </font> </th>

                <th>&nbsp;</th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" colspan="6">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left" width="10%">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8"><font face="Times New Roman" size="2">Fred
                Kornberg </font> </td>

                <td align="right" width="1%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" width="13%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">230,600 </font> </td>

                <td align="left" width="4%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" width="1%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="12%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">7,336,248 </font> </td>

                <td align="left" width="1%" bgcolor="#eaf9e8">&nbsp;</td>

                <td align="left" width="20%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">Robert G. Rouse </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">110,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3,868,560 </font> </td>

                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8"><font face="Times New Roman" size="2">Michael D.
                Porcelain </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">25,000 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">817,664 </font> </td>

                <td align="left" bgcolor="#eaf9e8">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">Richard L. Burt </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8"><font face="Times New Roman" size="2">Robert L.
                McCollum </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">94,250 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">2,969,483 </font> </td>

                <td align="left" bgcolor="#eaf9e8">&nbsp;</td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" colspan="6">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Amounts reflect the
                        difference between the exercise price of the options and the market value
                        of the shares acquired upon exercise at the time of exercise. Market value
                        is based on the actual selling price of shares sold by the NEO on the date
                        of exercise or, if no shares were sold that day, on the closing price on
                        the NASDAQ. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a11"></a>POTENTIAL
                    TERMINATION AND CHANGE-IN-CONTROL PAYMENTS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We have
                    entered into employment agreements with our CEO and COO. In September 2007, we
                    amended and restated these employment agreements. We describe the terms of
                    these agreements that provide for compensation while the executives remain in
                    service to us above under the caption &ldquo;Additional Information Relating to
                    Summary Compensation Table and Grants of Plan-Based Awards Table.&rdquo;
                    Termination provisions of these agreements are described below. We do not have
                    employment agreements with the other NEOs but, in September 2007, we entered
                    into change-in-control agreements with the other NEOs providing for severance
                    payments upon certain terminations triggered by a change-in-control or during
                    the year following a change-in-control. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Under
                    his employment agreement as in effect in fiscal 2007, we could terminate our
                    CEO&rsquo;s employment due to his disability or for cause. Such termination
                    would have ended our obligation to pay salary and further annual incentive,
                    except in the case of a termination resulting from disability his mandatory
                    annual incentive (3.5% of pre-tax income up to an amount equal to base salary)
                    would be paid as a &ldquo;part-year annual incentive&rdquo; in an amount based
                    on the level of pre-tax income in the year of termination through the end of
                    the fiscal quarter preceding the date of termination. The agreement did not
                    authorize us to terminate his employment without cause or authorize our CEO to
                    terminate his employment voluntarily before a change-in-control. If, before a
                    change-in-control, we had breached the agreement by terminating him without
                    cause, we would have owed him an amount equal to 85% of his base salary payable
                    through the end of the term (July 31, 2008) and his mandatory annual incentive
                    for the year of termination, and our CEO would have had an &ldquo;option
                    cash-out right&rdquo; allowing him to require us to cash out any options,
                    including previously unvested options, based on the average market price of our
                    stock over a 30-trading day period. A voluntary termination by our CEO before a
                    change-in-control would have breached the agreement, but no specific remedies
                    in favor of our Company are specified in the agreement. After a
                    change-in-control, our CEO would have had the right, for a one year period, to
                    elect to terminate his employment upon 30 days notice. In this case, we would
                    be liable to pay the greater of base salary for the remaining term or three
                    times base salary, any accrued annual incentive for a completed fiscal year
                    plus a part-year annual incentive for the year of termination as described
                    above, and he would have also had the option cash-out right. These same rights
                    and payments would have been due to our CEO, as liquidated damages, if we
                    terminated him without cause and not due to disability at any time after a
                    change-in-control. Payments upon a termination following a change-in-control
                    would be reduced to the amount just below the threshold for triggering golden
                    parachute excise taxes if the effect of the reduction would be to provide a
                    greater after-tax benefit to our CEO; no gross-up is payable if such excise
                    taxes apply, however. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">24 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    revised employment agreement with our CEO, effective in fiscal 2008, provides
                    the following termination provisions. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Termination by us due
                        to disability or for cause will result in the same payments as under the
                        old agreement. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The new agreement does
                        not authorize us to terminate our CEO without cause, but specifies that, if
                        we did so before a change-in-control, liquidated damages will be payable by
                        us as a lump sum equal to base salary payable through the end of the term
                        (July 31, 2010), mandatory annual incentive actually earned in the full
                        year of termination, continued participation in our medical plans for 18
                        months, and continuation of the life insurance benefit for two years after
                        termination. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The new agreement does
                        not provide for an option cash-out right which previously required us to
                        cash-out any of his options, including previously unvested options. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">A voluntary termination
                        by our CEO in response to a breach of the agreement by us before a
                        change-in-control will result in the same payments and benefits as if we
                        involuntarily terminated our CEO, while any other voluntary termination
                        before a change-in-control will result in discontinuation of payments under
                        the agreement. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">After a
                        change-in-control, our CEO will have the right, for a one year period, to
                        elect to terminate his employment upon 30 days notice (as under the old
                        agreement). In this case, we will be liable to pay the greater of base
                        salary for the remaining term or three times base salary, any accrued
                        annual incentive for a completed fiscal year plus a part-year annual
                        incentive for the year of termination as described above and continued
                        benefits under our benefit plans for the remainder of the employment period
                        or the two year period following termination of employment, whichever is
                        greater. These same amounts will be payable to our CEO, if he remains
                        employed during the two years after the employment period expires (July 31,
                        2010) and, during that period and within two years after a
                        change-in-control, he elects to terminate employment, and such amounts also
                        will be payable, as liquidated damages, if we terminate his employment
                        without cause and not due to disability at any time after a
                        change-in-control if these amounts exceed the amounts that would be payable
                        for a pre-change-in-control termination by us without cause. Payments upon
                        a termination following a change-in-control would be reduced to the amount
                        just below the threshold for triggering golden parachute excise taxes if
                        the effect of the reduction would be to provide a greater after-tax benefit
                        to our CEO; no gross-up is payable if such excise taxes apply,
                        however. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Under
                    his employment agreement as in effect in fiscal 2007, we could terminate our
                    COO&rsquo;s employment due to his disability or for cause. In such case, our
                    obligation to pay further compensation under the agreement would end, except
                    accrued and unpaid annual incentive amounts would be payable, and the mandatory
                    annual incentive for the year of termination (1.5% of pre-tax income up to an
                    amount equal to base salary) would be paid as a &ldquo;part-year annual
                    incentive&rdquo; in an amount based on the level of pre-tax income in the year
                    of termination through the end of the fiscal quarter preceding the date of
                    termination. These same amounts would be payable upon our COO&rsquo;s death.
                    If, before a change-in-control, we terminated our COO&rsquo;s employment
                    without cause and not due to disability, he would be entitled to receive any
                    accrued annual incentive for a previously completed year, continued medical and
                    dental benefits through the end of the employment term (July 31, 2008),
                    continued salary through the end of the employment term reduced by compensation
                    amounts earned from a new employer. If such a termination were to occur after a
                    change-in-control and at a time when Mr. Kornberg no longer was CEO, we would
                    pay to our COO a lump-sum amount equal to 299% of his base salary. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    revised employment agreement with our COO, effective in fiscal 2008, provides
                    the following termination provisions. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Termination by us for
                        cause or a voluntary termination by the COO, except for a termination after
                        a change-in-control due to a diminution in responsibilities, will result in
                        no further compensation. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Termination by us due
                        to the COO&rsquo;s disability or termination due to death will result in
                        payment of accrued but unpaid annual incentive for a previously completed
                        year and a part-year annual incentive for the year of termination. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">25 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">If we terminate our
                        COO&rsquo;s employment without cause and not due to disability, we will pay
                        to him any accrued but unpaid annual incentive for a previously completed
                        year and a part-year annual incentive for the year of termination. In
                        addition, we will provide medical and dental benefits until the expiration
                        date (July 31, 2009) but not longer than 18 months. If this termination
                        occurs not within one year after a change-in-control, we will continue
                        salary payments through the expiration date. If this termination occurs
                        within one year after a change-in-control, we will pay to the executive a
                        lump sum equal to 299% of his base salary. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">If, during the year
                        following a change-in-control, our COO voluntarily terminates his
                        employment due to a diminution in his responsibilities, his payments and
                        benefits under the agreement will be the same as though we had terminated
                        him without cause during the year following a change-in-control. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Payments upon a
                        termination in the year following a change-in-control would be reduced to
                        the amount just below the threshold for triggering golden parachute excise
                        taxes if the effect of the reduction would be to provide a greater
                        after-tax benefit to our COO; no gross-up is payable if such excise taxes
                        apply, however. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    change-in-control agreements with Messrs. Burt, McCollum, and Porcelain, as in
                    effect from September 2007, provide for severance payments in the event that,
                    during the 12 months following a change-in-control, we terminate the
                    executive&rsquo;s employment without cause or the executive terminates his
                    employment for &ldquo;good reason.&rdquo;&nbsp;The agreements provide no
                    severance or benefits for terminations due to death, disability, by us for
                    cause, or voluntarily by the executive without good reason. A termination of
                    the executive without cause or by the executive for good reason during the
                    30-day period before a change-in-control can also result in severance payments
                    under the agreement, if the acquiring company requested the termination or
                    acted so as to give rise to the good reason. If severance becomes payable, it
                    will be paid as a lump sum equal to one-twelfth of the executive&rsquo;s annual
                    base salary times the number of full and fractional months remaining until the
                    date 18 months after the change-in-control, but in any event not less than one
                    year&rsquo;s base salary. If the amount payable along with any other payments
                    to the executive would trigger a golden parachute excise tax under Internal
                    Revenue Code Sections 280G and 4999, and if reducing the severance to a lesser
                    amount would avoid this tax and result in the executive having a greater
                    after-tax amount, the severance payments will be reduced to the highest level
                    payable without triggering the excise tax. Under the agreements,
                    &ldquo;cause&rdquo; means willful misconduct, dishonesty, misappropriation,
                    breach of fiduciary duty or fraud by the executive relating to our business,
                    conviction or pleading of <i>nolo contendere</i> with regard to any felony or
                    crime (other than traffic violations and misdemeanors), or a material breach of
                    covenants protecting our business not cured within 30 days after we give notice
                    of the breach. &ldquo;Good reason&rdquo; means occurrence of any of the
                    following events, unless he consents: assignment of duties inconsistent in any
                    substantial respect with his position, authority or responsibilities
                    immediately prior to the occurrence of the change-in-control or any other
                    substantial adverse change in such position, including authority or
                    responsibilities; reduction in annual base salary; or relocation of the
                    principal place of employment by more than fifty miles. The executive must
                    notify us that an event constituting &ldquo;good reason&rdquo; has occurred
                    within 90 days of the event, and we will have at least 30 days to cure the good
                    reason. The agreements define a &ldquo;change-in-control&rdquo; in the same way
                    as under our other plans and arrangements. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In the
                    event of a change-in-control,&nbsp;our 2000 Stock Incentive Plan generally
                    provides that unvested options would become automatically vested. The Plan also
                    authorizes our ECC, in its discretion, to cash out outstanding options at a
                    defined &ldquo;change-in-control price,&rdquo; but this alternative may be
                    impractical in some cases under recent changes to federal income tax law. The
                    Plan also provides that options will not automatically vest upon a
                    change-in-control if the ECC reasonably determines in good faith, before the
                    change-in-control, that the options will be assumed and replaced by the
                    acquirer with options that provide equivalent terms (including vesting) and
                    preserve the economic value of the old option, and are exercisable for stock
                    traded in an established securities market. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">26 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">The following table
                        shows the incremental potential value of payments and benefits to each NEO
                        under the terms of our plans and contracts upon a change-in-control and
                        various types of terminations scenarios as if they occurred on July 31,
                        2007. Each of the NEOs holds stock options the vesting of which would be
                        accelerated in certain circumstances, as described elsewhere in the proxy.
                        The table does not necessarily show all post-termination payments, but
                        rather shows how a change-in-control or termination in the specified
                        circumstances will enhance the payments or benefits to be received by each
                        NEO. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Incremental Value of
                    Payments and Benefits Upon Change-in-Control and Various Types of
                    Terminations</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th colspan="15">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th><font face="Times New Roman" size="2">&nbsp; </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">(1) </font> </th>

                <th><font size="2">&nbsp; </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">(1) </font> </th>

                <th><font size="2">&nbsp; </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">(2) </font> </th>

                <th><font size="2">&nbsp; </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">(2) </font> </th>

                <th><font size="2">&nbsp; </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">(2) </font> </th>

                <th><font size="1">&nbsp; </font> </th>
            </tr>

            <tr valign="bottom">
                <th colspan="15">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th align="left"><font face="Times New Roman" size="2"><b>Termination Scenario
                (July 31, 2007)</b> </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">Mr.<br>
                Kornberg </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Mr.<br>
                Rouse </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Mr.<br>
                Porcelain </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Mr.<br>
                Burt </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Mr.<br>
                McCollum </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th colspan="15">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="6">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" colspan="6"><strong><font face="Times New Roman" size="2">Events
                Not Within Specified Period After a Change-in-Control: </font></strong> </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><u><font face="Times New Roman" size="2">Termination by Us Without
                Cause </font></u> </td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Severance Pay </font> </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">531,250 </font>
                </td>

                <td align="left" width="2%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">370,000 </font>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&mdash; </font>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&mdash; </font>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right" width="9%"><font face="Times New Roman" size="2">&mdash; </font>
                </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Stock Option Vesting
                (4) </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,721,838 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Health Benefits Continuation
                (5) </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">16,200 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="6">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="6"><strong><font face="Times New Roman" size="2">Events
                Within Specified Period After a Change-in-Control: </font></strong> </td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" colspan="3">
                <u><font face="Times New Roman" size="2">Change-in-Control &ndash; Assuming no
                Termination </font></u> </td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Stock Option Vesting
                (3) </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">8,705,933 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">3,655,288 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1,289,775 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">2,756,068 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">2,526,690 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="6">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" colspan="6"><u><font face="Times New Roman" size="2">Termination
                Without Cause or by Voluntary Resignation </font></u> </td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Severance Pay </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1,875,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Stock Option Vesting
                (4) </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,721,838 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Health Benefits Continuation
                (5) </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">11,400 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" colspan="6"><u><font face="Times New Roman" size="2">Termination
                Without Cause or Resignation for Good Reason </font></u> </td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Severance Pay </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right"><font face="Times New Roman" size="2">1,106,300 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <th colspan="15">
                <font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp; </font> </th>

                <th><font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </th>
            </tr>

            <tr valign="bottom">
                <th colspan="15">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">In the case of Messrs.
                        Kornberg and Rouse, the principal document setting forth these terms is
                        their respective employment agreements, described throughout this proxy.
                        The table assumes that severance payments are not subject to any reduction
                        under provisions reducing payments so that no excise tax would apply to
                        Messrs. Kornberg or Rouse under Section 4999. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(2) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The other three NEOs do
                        not have employment agreements, and the Change-in-Control Agreements
                        described above were not effective until after the end of fiscal 2007, so
                        potential payments under those agreements are not reflected in the
                        table. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(3) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">These amounts represent
                        the aggregate in-the-money value of options which would become vested as a
                        direct result of the termination event or change-in-control before the
                        option&rsquo;s stated vesting date. This calculation of value does not
                        attribute any additional value to options based on their remaining term and
                        does not discount the value of awards based on the portion of the vesting
                        period elapsed at the date of the termination event or change-in-control.
                        Market value and in-the-money value are based on the closing price of our
                        common stock, $43.47, on July 31, 2007. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(4) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">This amount represents
                        the &ldquo;option cash-out right&rdquo; as described under Potential
                        Termination and Change-in-Control Payments above. Effective August 1, 2007,
                        Mr. Kornberg no longer has such right pursuant to his new employment
                        agreement. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(5) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Health benefits
                        continuation amounts are a good faith estimate based on the current plan
                        enrolled by the&nbsp;respective executive officer and will vary in amount
                        for a given executive officer based on the actual plan and actual costs
                        following termination of employment. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">27 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b>&nbsp;<a name="a12"></a>SECURITIES
                AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td align="left">
                    <div align="left">
                        <font face="Times New Roman, Times, Serif" size="2">The following table
                        sets forth information as of July 31, 2007 regarding our compensation plans
                        and the Common Stock we may issue under the plans. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><b><font face="Times New Roman, Times, serif" size="2">Equity
                Compensation Plan Information </font></b> </td>
            </tr>

            <tr>
                <td align="left">&nbsp;</td>
            </tr>

            <tr>
                <td align="left">
                    <hr noshade size="1">
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="bottom">
                <font face="Times New Roman, Times, serif" size="2"><strong>Plan
                Category</strong> </font> </td>

                <th valign="bottom" nowrap>
                </th>

                <th valign="bottom" nowrap colspan="2">
                <font face="Times New Roman, Times, serif" size="2"><strong>Number of<br>
                securities to<br>
                be issued upon<br>
                exercise of<br>
                outstanding options,<br>
                warrants and rights</strong> </font> </th>

                <td valign="bottom" nowrap><font size="2">&nbsp; </font> </td>

                <td valign="bottom" nowrap align="center" colspan="4">
                <font face="Times New Roman, Times, serif" size="2"><strong>Weighted-average<br>
                exercise price of<br>
                outstanding options,<br>
                warrants and rights</strong> </font> </td>

                <td valign="bottom" nowrap><font size="2">&nbsp; </font> </td>

                <th valign="bottom" nowrap align="center" colspan="2">
                <font face="Times New Roman, Times, serif" size="2"><strong>Number of securities
                remaining<br>
                available for future issuance<br>
                under equity compensation<br>
                plans</strong> </font> </th>

                <td width="1%">&nbsp;</td>
            </tr>

            <tr>
                <td colspan="12">
                    <hr noshade size="1">
                </td>

                <td>&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td><font face="Times New Roman, Times, serif" size="2">Equity compensation<br>
                plans approved by<br>
                stockholders </font> </td>

                <td valign="bottom" align="right" width="5%">&nbsp;</td>

                <td valign="bottom" align="right" width="10%">
                <font face="Times New Roman, Times, serif" size="2">2,500,017 </font> </td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;</td>

                <td valign="bottom" width="1%">
                <font face="Times New Roman, Times, serif" size="2">$ </font> </td>

                <td valign="bottom" align="right" width="13%">
                <font face="Times New Roman, Times, serif" size="2">21.67 </font> </td>

                <td valign="bottom" width="5%">&nbsp;</td>

                <td valign="bottom" width="3%">&nbsp;&nbsp;&nbsp;</td>

                <td valign="bottom" align="right" width="16%">
                <font face="Times New Roman, Times, serif" size="2">1,606,864 </font> </td>

                <td valign="bottom" width="5%">
                <font face="Times New Roman, Times, serif" size="2">(1) </font> </td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, serif" size="2">Equity compensation<br>
                plans not approved by<br>
                stockholders &nbsp; </font> </td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">
                <font face="Times New Roman" size="2">&mdash; </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">
                <font face="Times New Roman" size="2">&mdash; </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right"><font size="2">&mdash; </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">
                    <hr noshade size="1">
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" colspan="3">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">
                    <hr noshade size="1">
                </td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr bgcolor="#eaf9e8">
                <td><font face="Times New Roman, Times, serif" size="2">Total </font> </td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">
                <font face="Times New Roman, Times, serif" size="2">2,500,017 </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom"><font face="Times New Roman, Times, serif" size="2">$ </font>
                </td>

                <td valign="bottom" align="right">
                <font face="Times New Roman, Times, serif" size="2">21.67 </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">
                <font face="Times New Roman, Times, serif" size="2">1,606,864 </font> </td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td valign="bottom" align="right">&nbsp;</td>

                <td valign="bottom" align="right">
                    <hr noshade size="2">
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" colspan="3">
                </td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom">&nbsp;</td>

                <td valign="bottom" align="right">
                    <hr noshade size="2">
                </td>

                <td valign="bottom">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td colspan="12">
                    <hr noshade size="1">
                </td>

                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="24">
                </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, Serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Includes 414,413 shares
                        available for issuance under the Comtech Telecommunications Corp. Employee
                        Stock Purchase Plan. That plan permits employees to purchase shares at a
                        discount from fair market value of up to 15% of the market price
                        of&nbsp;our Common Stock at the beginning or end of each calendar quarter.
                        1,192,451 shares remain available for issuance under the 2000 Stock
                        Incentive Plan for restricted stock, restricted stock units, and other
                        full-value awards (that is, awards other than options, warrants and
                        rights). </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">28 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a13"></a>DIRECTOR
                COMPENSATION TABLE FOR FISCAL 2007</b> </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th><font face="Times New Roman" size="2">Name (1) </font> </th>

                <th colspan="2"><font face="Times New Roman" size="2">Fees Earned or Paid<br>
                in Cash<br>
                ($) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Option<br>
                Awards<br>
                ($) (2) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">All Other<br>
                Compensation<br>
                ($) </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman" size="2">Total<br>
                ($) </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <th colspan="12">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">George Bugliarello
                (3) </font> </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="12%"><font face="Times New Roman" size="2">12,840 </font>
                </td>

                <td align="left" width="8%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="8%" bgcolor="#eaf9e8">
                <font face="Times New Roman" size="2">106,461 </font> </td>

                <td align="left" width="8%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="center" width="12%"><font face="Times New Roman" size="2">&mdash; </font>
                </td>

                <td align="left" width="8%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>

                <td align="right" width="1%"><font face="Times New Roman" size="2">$ </font> </td>

                <td align="right" width="8%"><font face="Times New Roman" size="2">119,301 </font>
                </td>

                <td align="left" width="1%"><font face="Times New Roman" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Richard L. Goldberg </font>
                </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">37,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">106,461 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">143,961 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Edwin Kantor </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">37,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">106,461 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">143,961 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Ira Kaplan </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">37,500 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">106,461 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">143,961 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left"><font face="Times New Roman" size="2">Gerard R. Nocita </font>
                </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">50,000 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">106,461 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">156,461 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman" size="2">Robert G. Paul </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">9,375 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">7,488 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">&nbsp; </font> </td>

                <td align="right"><font face="Times New Roman" size="2">16,863 </font> </td>

                <td align="left"><font face="Times New Roman" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <th colspan="12">
                    <hr noshade size="1">
                </th>

                <th>&nbsp;</th>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="36">
                <font face="Times New Roman, Times, serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Fred Kornberg, our
                        Chairman of the Board, President and Chief Executive Officer, is not
                        included in this table because he receives no separate compensation for his
                        services as a Director. His compensation is shown in the Summary
                        Compensation Table and related compensation tables above. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="36">
                <font face="Times New Roman, Times, serif" size="2">(2) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The amounts in this
                        column reflect the amount of expense we recognized for financial statement
                        reporting purposes for fiscal 2007, in accordance with SFAS 123(R), for
                        non-employee directors&rsquo; stock options, without regard to estimated
                        forfeitures of such options. For the non-employee directors, the amount
                        includes expense from options granted in fiscal 2006 which remained
                        unvested at any time in fiscal 2007, as well as the options granted during
                        fiscal 2007. Assumptions used in the calculation of these amounts were the
                        same as those for stock options granted to employees, as discussed in
                        footnote (1) to the Summary Compensation Table. As of July 31, 2007, the
                        non-employee directors held the following number of outstanding
                        options:&nbsp;Mr. Goldberg: 33,750; Mr. Kantor: 35,125; Mr. Kaplan: 25,000;
                        Mr. Nocita: 28,750; and Mr. Paul: 4,500. On December 5, 2006, all of Dr.
                        Bugliarello&rsquo;s unvested options were cancelled pursuant to the terms
                        of&nbsp;our 2000 Stock Incentive Plan. On August 1, 2006, each non-employee
                        director then serving received an annual grant of options to purchase
                        12,500 shares of our Common Stock at $26.90 per share; each of these grants
                        had an aggregate fair value, measured in accordance with SFAS 123(R), of
                        $131,719&shy;&shy;&shy;&shy;&shy;. In accordance with the provisions
                        of&nbsp;our 2000 Stock Incentive Plan, Mr. Paul received a grant of options
                        to purchase 4,500 shares of our Common Stock on March 7, 2007, the date
                        that he became a director of&nbsp;our Company.&nbsp;This grant had an
                        aggregate fair value, measured in accordance with SFAS 123(R), of
                        $55,879. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="36">
                <font face="Times New Roman, Times, serif" size="2">(3) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Dr. Bugliarello, a
                        director of our Company since 1977, did not stand for re-election as a
                        director at the 2006 Annual Meeting of Stockholders. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    fiscal 2007, each of our directors who is not an employee of our Company
                    received an annual retainer of $37,500 and the Chairman of the Audit Committee
                    received an additional annual retainer of $12,500. Under our current policy for
                    equity grants under&nbsp;our 2000 Stock Incentive Plan, we grant to each
                    director who is not an employee an option to purchase: (i) 4,500 shares of
                    Common Stock as of the date the director begins service on the Board and (ii)
                    12,500 shares of Common Stock on each August 1<sup>st</sup>. The exercise price
                    of all such options is equal to the stock&rsquo;s fair market value on the date
                    of grant. The options expire five years after the date of grant, and become
                    exercisable as to 25% of the underlying shares on the first and second
                    anniversaries of the date of grant and as to the remaining 50% of the
                    underlying shares on the third anniversary of the date of grant, subject to
                    accelerated vesting upon death of the director or a
                    change-in-control. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">For
                    fiscal 2008, each of our directors who is not an employee of our Company will
                    receive an annual retainer of $40,000. Our Chairman of the Audit Committee will
                    also receive an additional annual retainer of $12,500 and our Chairman of the
                    ECC will receive an additional annual retainer of $5,000. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">29 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a14"></a>EXECUTIVE
                COMPENSATION COMMITTEE REPORT</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Executive Compensation Committee has furnished the following report. The
                    information contained in the &ldquo;Executive Compensation Committee
                    Report&rdquo; is not to be deemed to be &ldquo;soliciting material&rdquo; or to
                    be &ldquo;filed&rdquo; with the SEC, nor is such information to be incorporated
                    by reference into any future filings under the Securities Act of 1933, as
                    amended, or the Securities Exchange Act of 1934, as amended, except to the
                    extent that we specifically incorporate it by reference into such
                    filings. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Executive Compensation Committee has reviewed and discussed the
                    &ldquo;Compensation Discussion and Analysis&rdquo; required by Item 402(b) of
                    Regulation S-K of the Securities and Exchange Act of 1933 with
                    management. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Based on
                    such review and discussions, our Executive Compensation Committee recommended
                    to our Board of Directors that the &ldquo;Compensation Discussion and
                    Analysis&rdquo; be included in this Proxy Statement and in our Annual Report on
                    Form 10-K for the fiscal year ended July 31, 2007 for filing with the
                    SEC. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td width="50%">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, serif" size="2">Executive Compensation
                Committee </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td>
                    <hr align="left" width="200" noshade size="1">
                </td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td><font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Ira Kaplan, Chairman </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Edwin Kantor </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Gerard R. Nocita </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">30 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a15"></a>EXECUTIVE
                COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">During
                    fiscal 2007, Messrs. Kaplan, Kantor, and Nocita, and for the period through
                    December 5, 2006 Dr. Bugliarello, served as members of our Executive
                    Compensation Committee. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">No
                    member of our Executive Compensation Committee is or was during fiscal year
                    2007 an employee or an officer of Comtech or its subsidiaries. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">No
                    executive officer of Comtech served as a director or a member of the
                    compensation committee of another company, one of whose executive officers
                    serves as a member of our Board of Directors or our Executive Compensation
                    Committee. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">31 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a16"></a>AUDIT
                COMMITTEE REPORT</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Audit Committee has furnished the following report. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    information contained in the &ldquo;Audit Committee Report&rdquo; is not to be
                    deemed to be &ldquo;soliciting material&rdquo; or to be &ldquo;filed&rdquo;
                    with the Securities and Exchange Commission, nor is such information to be
                    incorporated by reference into any future filings under the Securities Act of
                    1933, as amended, or the Securities Exchange Act of 1934, as amended, except to
                    the extent that we specifically incorporate it by reference into such
                    filings. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Audit Committee reviews Comtech&rsquo;s financial reporting process on behalf
                    of the Board of Directors. Management is responsible for the financial
                    statements and the reporting process, including the system of internal
                    controls. KPMG LLP (&ldquo;KPMG&rdquo;), Comtech&rsquo;s independent registered
                    public accounting firm, is responsible for expressing an opinion on the
                    conformity of the audited financial statements with accounting principles
                    generally accepted in the United States of America. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                </td>

                <td valign="top" colspan="2"><font face="Times New Roman, Times, Serif" size="2">In
                fulfilling its responsibilities: </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The Audit Committee
                        reviewed and discussed the audited financial statements contained in the
                        2007 Annual Report on SEC Form 10-K with Comtech&rsquo;s management and
                        with KPMG. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The Audit Committee
                        discussed with KPMG the matters required to be discussed by Statement on
                        Auditing Standards No. 61 (Communications with Audit Committees). </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td valign="top" width="24">
                <font face="Times New Roman, Times, serif" size="2">&bull; </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">The Audit Committee
                        received from KPMG written disclosures regarding the auditors&rsquo;
                        independence, as required by Independence Standards Board Standard No. 1
                        (Independence Discussions with Audit Committees), and discussed with KPMG
                        its independence from Comtech and its management. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    reliance on the reviews and discussions noted above, the Audit Committee
                    recommended to the Board of Directors (and the Board of Directors has approved)
                    that the audited financial statements be included in Comtech&rsquo;s Annual
                    Report on SEC Form 10-K for the year ended July 31, 2007, for filing with the
                    Securities and Exchange Commission. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td width="50%">&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, serif" size="2">Audit Committee </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td>
                    <hr align="left" width="150" noshade size="1">
                </td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>

                <td><font face="Times New Roman, Times, serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Gerard R. Nocita,
                Chairman </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Edwin Kantor<br>
                Ira Kaplan </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">Robert G. Paul </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">32 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a17"></a>CERTAIN
                RELATIONSHIPS AND RELATED TRANSACTIONS</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">We lease a facility in
                        Melville, New York from a partnership controlled by our CEO. The lease, as
                        amended, provides for our use of the premises as they now exist for a term
                        of ten years, through December 2011. We have a right of first refusal in
                        the event of a sale of the facility. The annual rental under the lease
                        (approximately $564,000 in fiscal 2007) is subject to adjustments. In
                        addition, we sublease 1,150 square feet of the Melville, New York facility
                        to a company principally owned by the son of our CEO. The sublease
                        commenced in August 2005 and expires in December 2011. The annual rental
                        under the sublease of $12,600 is subject to adjustment. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    McCollum&rsquo;s brother, Richard McCollum, is employed by our Company as a
                    test technician and his aggregate compensation for fiscal 2007 of $63,628 was
                    comparable with other Comtech employees in similar positions. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Burt&rsquo;s son, Brian Burt, is employed by our Company as a marketing manager
                    and his aggregate compensation for fiscal 2007 of $54,303 was comparable with
                    other Comtech employees in similar positions. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Richard
                    L. Goldberg, a director, is a Partner in the law firm of Proskauer Rose LLP,
                    which renders legal services to our Company. During fiscal 2007, we paid an
                    aggregate of $1,028,301 in fees to that law firm and expect to pay fees at a
                    comparable level in fiscal 2008. </font></p>

                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a18"></a>VOTING
                    OF PROXIES AND OTHER MATTERS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Board of Directors does not know of any other matters to be presented at the
                    annual meeting. If other matters do come before the annual meeting, the persons
                    acting pursuant to the proxy will vote on them in their discretion. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Proxies
                    may be solicited by mail, telephone, telegram, and personally by directors,
                    officers and other employees of Comtech. The cost of soliciting proxies will be
                    borne by Comtech. A complete list of stockholders entitled to vote at the
                    annual meeting will be available for inspection beginning November 26, 2007 at
                    the Company&rsquo;s headquarters located at 68 South Service Road, Suite 230,
                    Melville, New York 11747. </font></p>

                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a19"></a>SECTION
                    16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Section
                    16(a) of the Securities Exchange Act of 1934, as amended, requires our
                    directors and executive officers, and persons who own more than ten percent of
                    our Common Stock, if any, to file with the Securities and Exchange Commission
                    reports of ownership, and reports of changes in ownership, of our equity
                    securities. Such persons must furnish copies of all such reports that they file
                    to us. Based solely on a review of such reports and written representations of
                    our directors and executive officers, we are not aware that any such person
                    failed to timely file such reports, except that three Forms 4 were
                    inadvertently filed late, one each by Jerome Kapelus, our Senior Vice
                    President, Strategy and Business Development, Nancy Stallone, our Vice
                    President of Finance, and Michael Bondi, our Controller. These transactions
                    were erroneously originally reported on a timely filed Form 3. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">33 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a20"></a>PROPOSAL
                NO. 1 - ELECTION OF THREE DIRECTORS</b> </font> </td>
            </tr>

            <tr>
                <td>
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Our Board of Directors
                        is divided into three classes. Members of our Board of Directors are
                        elected for three-year terms, with the term of office of one class expiring
                        at each Annual Meeting of Comtech&rsquo;s stockholders. Mr. Kornberg and
                        Mr. Kantor are in the class whose term of office expires in 2007, Mr.
                        Kaplan and Mr. Nocita are in the class whose term of office expires in 2008
                        and Mr. Goldberg is in the class whose term of office expires in 2009. On
                        March 7, 2007, the Board appointed Robert G. Paul as a director, to fill
                        the vacancy resulting from the retirement of Dr. George Bugliarello as a
                        director, serving in the class whose term of office would expire in 2009.
                        Under our Restated Certificate of Incorporation, Mr. Paul&rsquo;s term
                        expires at the 2007 Annual Meeting of Stockholders. Therefore, stockholders
                        will be asked to elect two directors to the class whose term expires in
                        2010, for which Mr. Kornberg and Mr. Kantor will be nominated, and one
                        director to the class whose term expires in 2009, for which Mr. Paul will
                        be nominated. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Information concerning
                        the directors being nominated for reelection at the Annual Meeting, the
                        incumbent directors whose terms of office will continue after the Annual
                        Meeting, and our executive officers is set forth below. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2"><b>NOMINEES
                FOR ELECTION AT THE ANNUAL MEETING</b> </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th width="24%"><font face="Times New Roman, Times, Serif" size="2">Name </font>
                </th>

                <th>
                </th>

                <th align="left"><font face="Times New Roman, Times, Serif" size="2">Principal
                Occupation </font> </th>

                <th>
                </th>

                <th><font face="Times New Roman, Times, Serif" size="2">Age </font> </th>

                <th>
                </th>

                <th nowrap><font face="Times New Roman, Times, Serif" size="2">For Term<br>
                Expiring In </font> </th>

                <th>
                </th>

                <th nowrap><font face="Times New Roman, Times, Serif" size="2">Served As<br>
                Director Since </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left" colspan="9">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Fred Kornberg (1) </font> </td>

                <td align="left" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="left" width="36%">
                <font face="Times New Roman, Times, Serif" size="2">Chairman, Chief Executive
                Officer and President of Comtech </font> </td>

                <td align="left" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center" width="8%">
                <font face="Times New Roman, Times, Serif" size="2">71 </font> </td>

                <td valign="top" align="left" width="2%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center" width="11%">
                <font face="Times New Roman, Times, Serif" size="2">2010 </font> </td>

                <td valign="top" align="left" width="2%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp; </font>
                </td>

                <td valign="top" align="center" width="14%">
                <font face="Times New Roman, Times, Serif" size="2">1971 </font> </td>

                <td align="left" width="1%">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Edwin Kantor
                (1)(2)(3)(4) </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Chairman, BK
                Financial Services LLC </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">75 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2010 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2001 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Robert G. Paul
                (2) </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Private
                Investor </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">65 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2009 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2007 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td align="right" colspan="9">
                    <hr noshade size="1">
                </td>

                <td>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b>INCUMBENT DIRECTORS
                    WHOSE TERMS OF OFFICE CONTINUE AFTER THE ANNUAL MEETING AND EXECUTIVE
                    OFFICERS</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th><font face="Times New Roman, Times, Serif" size="2">Name </font> </th>

                <th>
                </th>

                <th align="left"><font face="Times New Roman, Times, Serif" size="2">Principal
                Occupation </font> </th>

                <th>
                </th>

                <th><font face="Times New Roman, Times, Serif" size="2">Age </font> </th>

                <th>
                </th>

                <th><font face="Times New Roman, Times, Serif" size="2">Term<br>
                Expiring In </font> </th>

                <th><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font> </th>

                <th nowrap><font face="Times New Roman, Times, Serif" size="2">Served As<br>
                Director Since </font> </th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left" colspan="9">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Richard L.
                Goldberg (1) </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Partner,
                Proskauer Rose LLP, and </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">71 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2009 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">1983 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Independent
                Business Advisor </font> </td>

                <td align="right">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="center">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Ira Kaplan
                (2)(3)(4) </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Private
                Investor </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">71 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2008 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2002 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Gerard R.
                Nocita (2)(3)(4) </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Private
                Investor </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">71 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">2008 </font>
                </td>

                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="center"><font face="Times New Roman, Times, Serif" size="2">1993 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, serif" size="1">&nbsp; </font> </td>

                <td align="left"><font face="Times New Roman, Times, serif" size="1">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Robert G. Rouse </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Executive Vice President and
                Chief<br>
                Operating Officer of Comtech </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">43 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Richard L. Burt </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President;
                President of<br>
                Comtech Systems, Inc. </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">66 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Jerome Kapelus </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President, Strategy
                and<br>
                Business Development </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">43 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Larry Konopelko </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President;
                President of<br>
                Comtech PST Corp. </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">54 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Robert L. McCollum </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President;
                President of<br>
                Comtech EF Data Corp. </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">58 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Michael D. Porcelain </font>
                </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President and
                Chief<br>
                Financial Officer of Comtech </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">38 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr valign="bottom">
                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Daniel S. Wood </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="left">
                <font face="Times New Roman, Times, Serif" size="2">Senior Vice President;
                President of<br>
                Comtech Mobile Datacom Corporation </font> </td>

                <td valign="top" align="right">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">49 </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td valign="top" align="center">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td align="right" colspan="9">
                    <hr noshade size="1">
                </td>

                <td>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(1) </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Member of
                Executive Committee </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(2) </font> </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Member of
                Audit
                Committee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(3) </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Member of
                Executive Compensation Committee </font> </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">(4) </font>
                </td>

                <td valign="top"><font face="Times New Roman, Times, serif" size="2">Member of
                Nominating Committee </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">34 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Kornberg has been Chief Executive Officer and President of Comtech since 1976.
                    Prior to that, he was the Executive Vice President of Comtech from 1971 to 1976
                    and the General Manager of the telecommunications transmission
                    segment. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Kantor has been a director of Comtech since 2001. He has been Chairman of BK
                    Financial Services LLC since 2002. Previously he served as Co-Chief Executive
                    Officer of TPB Financial Services and was Co-Chairman and Co-Chief Executive
                    Officer of HCFP/Brenner Securities from 1999 to 2001. He was Vice Chairman of
                    Barington Capital Group from 1993 to 1999. Prior to joining Barington, Mr.
                    Kantor spent 37 years in the securities industry with Drexel Burnham Lambert
                    and its predecessor firms, where he held various positions, including serving
                    as the firm&rsquo;s Vice Chairman. </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">Mr. Paul has been a
                        director of Comtech since March 2007. He serves on the boards of directors
                        of Rogers Corporation and Kemet Corporation, and previously served on the
                        board of directors of Andrew Corporation from 2003 to 2005. He was the
                        Group President, Base Station Subsystems, for Andrew Corporation from 2003
                        to 2004. Mr. Paul was the President and Chief Executive Officer of Allen
                        Telecom Inc. from 1989 to 2003. He also served in various other capacities
                        at Allen Telecom, which he joined in 1970, including Chief Financial
                        Officer and President of the Antenna Specialists Division. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Goldberg has been a director of Comtech since 1983. He has been a partner since
                    1990 in the law firm of Proskauer Rose LLP, which renders legal services to
                    Comtech. Prior to 1990, Mr. Goldberg was a partner since 1966 in the firm
                    Botein Hays &amp; Sklar. Since November 2004, Mr. Goldberg has also been an
                    independent business advisor. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Kaplan has been a director of Comtech since 2002. He is a private investor.
                    Prior to his retirement in 2001, Mr. Kaplan held several executive positions at
                    EDO Corporation for over 40 years, most recently as Executive Vice President
                    and Chief Operating Officer from 2000 to 2001. EDO Corporation is a supplier of
                    military and commercial products and services. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Nocita has been a director of Comtech since 1993. He is a private investor. He
                    was Treasurer of the Incorporated Village of Patchogue from 1993 to 1996. He
                    was affiliated with Comtech from its inception in 1967 until 1993. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Rouse has been Executive Vice President of Comtech since September 2004 and was
                    previously Senior Vice President of Comtech from 2001 to September 2004. He has
                    been Chief Operating Officer of Comtech since March 2006 and had been Chief
                    Financial Officer of Comtech from 2001 to March 2006. Mr. Rouse was previously
                    employed by KPMG LLP in various capacities for 15 years, including as a partner
                    in the firm&rsquo;s assurance practice from 1998 to 2001. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr. Burt
                    has been Senior Vice President of Comtech since 1998 and had been a Vice
                    President since 1992. He has been President of Comtech Systems, Inc. since 1989
                    and Vice President since its founding in 1984. Mr. Burt first joined Comtech in
                    1979. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Kapelus has been Senior Vice President, Strategy and Business Development,
                    since he joined Comtech in February 2006. From 2000 until he joined the
                    Company, Mr. Kapelus was a Managing Director in the Investment Banking Group at
                    Bear, Stearns &amp; Company, where his clients included growth companies in the
                    telecommunications equipment sector. Prior to joining Bear, Stearns &amp;
                    Company, Mr. Kapelus worked at firms that included Jefferies &amp; Co. and The
                    Bank of New York, where he provided investment banking and commercial banking
                    services to various industries including communications service
                    providers. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Konopelko has been Senior Vice President of Comtech since December 2006 and has
                    been President of Comtech PST Corp. since June 2002. He joined Comtech PST as
                    Vice President and General Manager in July 2001. Prior to joining Comtech PST,
                    he was General Manager at MPD Technologies, Inc. from 1995 to 2001. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    McCollum has been Senior Vice President of Comtech since 2000 and had been a
                    Vice President since 1996. He founded Comtech Communications Corp. in 1994 and
                    had been its President since its formation. In July 2000, Comtech combined
                    Comtech Communications Corp. with Comtech EF Data Corp., and appointed Mr.
                    McCollum President of the combined entities. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">35 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr.
                    Porcelain has been Senior Vice President of Comtech and Chief Financial Officer
                    since March 2006 and was previously Vice President of Finance and Internal
                    Audit of Comtech from 2002 to March 2006. Prior to joining Comtech, Mr.
                    Porcelain was Director of Corporate Profit and Business Planning for Symbol
                    Technologies, a mobile wireless information solutions company, where he was
                    employed from 1998 to 2002. Previously, he spent five years in public
                    accounting holding various positions, including Manager in the Transaction
                    Advisory Services Group of PricewaterhouseCoopers. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Mr. Wood
                    has been Senior Vice President of Comtech since December 2006 and President of
                    Comtech Mobile Datacom Corp. since April 2005. He was hired in October 2004 and
                    served as Executive Vice President of Operations of Comtech Mobile Datacom
                    Corp. until his promotion to President. Previously, Mr. Wood was employed at
                    EDO Corporation for 15 years, where he held senior management positions,
                    including Group Director, Finance, for EDO&rsquo;s Systems and Analysis Group,
                    and Director Contracts and Finance, for EDO&rsquo;s Combat Systems
                    Division. </font></p>

                    <p align="center"><font face="Times New Roman, Times, Serif" size="2"><b><u>Our
                    Board of Directors recommends a vote FOR the reelection of<br>
                    </u></b><b><u>Fred Kornberg and Edwin Kantor and the election of Robert G. Paul
                    to our Board of Directors.</u></b> </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">36 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a21"></a>PROPOSAL
                NO. 2 - APPROVAL OF AMENDMENT TO OUR BY-LAWS</b> </font> </td>
            </tr>

            <tr>
                <td>
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">NASDAQ has adopted a
                        new requirement that listed securities be eligible for a &ldquo;Direct
                        Registration Program&rdquo; by January 1, 2008 for companies listed on
                        NASDAQ before January 1, 2007. To comply with the NASDAQ requirement,
                        listed companies must be authorized to issue shares electronically on an
                        uncertificated basis. As our current By-Laws provide only for certificated
                        shares, to comply with the NASDAQ requirement, our By-Laws must be amended
                        to provide that shares of our Common Stock may be issued as uncertificated
                        shares. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">On September 18, 2007,
                        our Board of Directors unanimously approved the proposed amendment to our
                        By-Laws to provide for the issuance of uncertificated securities. </font>
                    </div>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Upon
                    stockholder approval of the By-Law amendment, we intend to participate in the
                    Direct Registration Program of our transfer agent, American Stock Transfer
                    &amp; Company. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    specific By-Law provisions that are proposed to be amended are Sections 1 and 3
                    of Article VI of the Amended and Restated By-Laws which would read as
                    follows: </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">&ldquo;Section 1.
                        &nbsp;The shares of the Corporation shall be represented by certificates,
                        provided that the Board of Directors may provide by resolution or
                        resolutions that some or all of any or all classes or series of stock shall
                        be uncertificated shares. Any such resolution shall not apply to shares
                        represented by a certificate until such certificate is surrendered to the
                        Corporation. Every holder of stock represented by certificates shall be
                        entitled to have a certificate signed by or in the name of the Corporation
                        by the Chairman of the Board of Directors, if any, or the President or a
                        Vice President, and by the Treasurer or an Assistant Treasurer, or the
                        Secretary or an Assistant Secretary, of the Corporation certifying the
                        number of shares owned by such holder in the Corporation. Any of or all the
                        signatures on the certificate may be a facsimile. In case any officer,
                        transfer agent or registrar who has signed or whose facsimile signature has
                        been placed upon a certificate shall have ceased to be such officer,
                        transfer agent, or registrar before such certificate is issued, it may be
                        issued by the Corporation with the same effect as if such person were such
                        officer, transfer agent, or registrar at the date of issue.&rdquo; </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top">
                </td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">&nbsp;</td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, Serif" size="2">&ldquo;Section 3.
                        &nbsp;Shares of capital stock of the Corporation shall be transferable only
                        on the books of the Corporation by the holder thereof in person or by
                        attorney upon presentment of proper evidence of succession, assignation or
                        authority to transfer in accordance with the customary procedures for
                        transferring shares.&rdquo; </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <p align="center"><font face="Times New Roman, Times, Serif" size="2"><b><u>Our
                    Board of Directors recommends a vote FOR the approval<br>
                    </u></b><b><u>of the amendment to our By-Laws</u></b> </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">37 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2"><b><a name="a22"></a>PROPOSAL
                NO. 3 - APPROVAL OF AMENDMENT TO OUR<br>
                </b><b>2000 STOCK INCENTIVE PLAN</b> </font> </td>
            </tr>

            <tr>
                <td>
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    stockholders are being asked to approve the adoption of an amendment to the
                    Comtech Telecommunications Corp. 2000 Stock Incentive Plan. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">On
                    September 18, 2007, our Board of Directors unanimously approved the amendment
                    to the Plan, subject to stockholder approval, to provide that the aggregate
                    number of shares of our Common Stock subject to awards under the Plan or with
                    respect to which awards may be granted be increased by 850,000 shares.
                    Currently, the aggregate number of shares of Common Stock which may be issued
                    or used for reference purposes under the Plan or with respect to which awards
                    may be granted may not exceed 5,737,500 shares of Common Stock (excluding
                    1,986,603 shares of Common Stock relating to outstanding awards that were
                    previously granted under the 1982 Incentive Stock Option Plan and the 1993
                    Incentive Stock Option Plan, as amended (the &ldquo;Prior Option Plans&rdquo;)
                    and which were previously transferred to the Plan.) </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">As of
                    October 8, 2007 and without giving effect to this amendment, stock-based awards
                    with reference to 2,873,585 shares were outstanding under the Plan, and only
                    630,901 shares remain available for future issuance or for reference purposes
                    under the Plan or with respect to which awards may be granted (excluding any
                    shares that may become available as a result of the expiration or termination
                    without exercise of currently outstanding options). </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Board of Directors believes the amendment to the Plan is in the best interests
                    of Comtech and its stockholders and is intended to enhance the profitability
                    and value of the Company for the benefit of its stockholders. The Board of
                    Directors believes that in a competitive environment for qualified executive,
                    technical, sales, marketing and other personnel, our ability to make
                    equity-based awards will continue to be a key factor in the recruitment and
                    retention of such personnel. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Description of the 2000
                    Stock Incentive Plan, As Proposed To Be Amended</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    following is a description of the 2000 Stock Incentive Plan, as proposed to be
                    amended. As a summary, it is qualified in its entirety by reference to the
                    Amended Plan. A copy of the Plan (as proposed to be amended) may be obtained
                    from the Secretary at the Corporate Offices, 68 South Service Road, Suite 230,
                    Melville, New York 11747. The current Plan was filed as Exhibit 10.1 to our
                    Form 8-K filed December 11, 2006. </font></p>

                    <p>
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Administration</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The Plan
                    is administered and interpreted by a committee or subcommittee of the Board
                    appointed from time to time by the Board (the &ldquo;Committee&rdquo;),
                    consisting of two or more non-employee directors, each of whom is intended to
                    be a non-employee director as defined in Rule 16b-3 under the Securities
                    Exchange Act of 1934, and an outside director as defined under Code Section
                    162(m). Currently, our ECC serves as the Committee for the Plan. With respect
                    to stock option grants to non-employee directors, the Plan is administered by
                    our Board of Directors and all references to the Committee are deemed to refer
                    to our Board of Directors for this purpose. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Committee has the full authority to administer and interpret the Plan, to grant
                    discretionary awards under the Plan, to determine the persons to whom awards
                    will be granted, to determine the types of awards to be granted, to determine
                    the terms and conditions of each award, to determine the number of shares of
                    Common Stock to be covered by each award and to make all other determinations
                    in connection with the Plan and the awards thereunder as the Committee, in its
                    sole discretion, deems necessary or desirable. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    terms and conditions of individual awards are set forth in written agreements
                    which are consistent with the terms of the Plan. Equity awards under the Plan
                    may not be made on or after October 19, 2009, the tenth anniversary of the
                    adoption of the Plan, but awards granted prior to such date may extend beyond
                    that date. Grants of cash incentive awards are authorized until the fifth
                    anniversary of the latest date upon which stockholders approved the proposed
                    amendment to authorize cash-based incentive awards (even if this date extends
                    past the date at which other awards may be granted under the Plan). </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">38 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Eligibility and Types
                    of Awards</i></b> </font>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">All
                    employees and consultants of Comtech and its affiliates (1,230 employees and
                    consultants as of July 31, 2007) including prospective employees and
                    consultants, are eligible to be granted under the Plan nonqualified stock
                    options, stock appreciation rights, restricted stock, performance shares,
                    performance units, cash-based incentive awards and other stock-based awards and
                    awards providing benefits similar to those listed above which are designed to
                    meet the requirements of non-U.S. jurisdictions. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">In
                    addition, employees of Comtech and its affiliates that qualify as subsidiaries
                    or parent corporations (within the meaning of Section 424 of the Code) are
                    eligible to be granted incentive stock options (&ldquo;ISOs&rdquo;) under the
                    Plan. Non-employee directors of the Company are eligible to receive
                    nondiscretionary grants of nonqualified stock options. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Available Shares and
                    Per-Person Limits</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">As
                    stated above, the proposed amendment would amend the number of shares of Common
                    Stock reserved and available under the Plan. As amended, the aggregate number
                    of shares of Common Stock which may be issued or used for reference purposes
                    under the Plan or with respect to which awards may be granted may not exceed
                    6,587,500 shares of Common Stock plus shares of Common Stock relating to
                    outstanding awards that were previously granted under predecessor option plans
                    (the &ldquo;Prior Option Plans&rdquo;) and which were previously transferred to
                    the Plan, for a total share limit of 8,574,103 shares of Common Stock. The
                    terms applicable to the Prior Option Plans&rsquo; awards in effect prior to the
                    Plan&rsquo;s assumption of these awards continue to apply. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    maximum number of shares of Common Stock with respect to which any option,
                    stock appreciation right or award of performance shares or award of restricted
                    stock for which the grant of such award or lapse of the relevant restriction
                    period is subject to attainment of pre-established performance goals (in
                    accordance with Code Section 162 (m)) which may be granted under the Plan
                    during any fiscal year of our Company to any individual is 225,000 shares per
                    type of award, provided that the maximum number of shares of Common Stock for
                    all types of awards does not exceed 225,000 during any fiscal year. To the
                    extent that shares of Common Stock for which awards are permitted to be granted
                    to an individual during a fiscal year are not covered by an award in a fiscal
                    year, the number of shares of Common Stock available for awards to such
                    individual will automatically increase in subsequent fiscal years until
                    used. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">For
                    awards denominated in cash, including cash incentive awards, the Plan contains
                    an annual per person limit, as required for compliance with Code Section
                    162(m). A participant may potentially earn cash incentive awards up to his or
                    her &ldquo;annual limit&rdquo; in any fiscal year. The annual limit for each
                    individual is $4.0 million plus the amount of the participant&rsquo;s unused
                    annual limit as of the close of the previous fiscal year. A participant uses up
                    his or her annual limit in a given year based on the maximum potential amount
                    of the incentive award authorized by the Committee, even if the actual amount
                    earned is less than the maximum. Performance units, a form of cash-based award
                    previously authorized under the Plan, are subject to a separate $100,000 annual
                    limit plus the amount of the participant&rsquo;s unused annual limit as of the
                    close of the previous fiscal year. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    aggregate number of shares of Common Stock available under the Plan, the
                    maximum number of shares that may be granted, the number of shares underlying
                    option grants and to which other awards relate, exercise prices, performance
                    conditions tied to share price, and other award terms are subject to
                    appropriate adjustment by the Committee in the event of changes in our capital
                    structure or business by reason of certain corporate transactions or events,
                    including stock splits, spinoffs, extraordinary dividends, and other equity
                    restructurings. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">On
                    October 8, 2007, the closing price of our Common Stock in the NASDAQ Stock
                    Market LLC exchange was $55.19 per share. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">39 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Awards Under the
                    Plan</i></b> </font>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Stock
                    Options.</b> &nbsp;The Committee may grant nonqualified stock options and ISOs
                    to purchase shares of Common Stock. The Committee determines the number of
                    shares of Common Stock subject to each option, the term of each option (up to
                    ten years), the exercise price, the vesting schedule (if any), and the other
                    material terms of each option. No ISO or nonqualified stock option which is
                    intended to be performance based for purposes of Code Section 162(m) may have
                    an exercise price less than the fair market value of the Common Stock at the
                    time of grant. Any option with an exercise price that is less than the fair
                    market value of the Common Stock at the time of grant is intended to be
                    structured to comply with Code Section 409A (relating to deferred
                    compensation). </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Options
                    are exercisable at such times and subject to such terms and conditions as
                    determined by the Committee at grant, and the exercisability of such options
                    may be accelerated by the Committee in its sole discretion (except as limited
                    under Section 409A). Payment of an option&rsquo;s exercise price may be made:
                    (i) in cash or by check, bank draft or money order, (ii) to the extent
                    allowable by law, through a broker-assisted &ldquo;cashless exercise&rdquo;
                    procedure, or (iii) on such other terms and conditions as may be acceptable to
                    the Committee. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Stock
                    Appreciation Rights.</b> &nbsp;The Committee may grant stock appreciation
                    rights (&ldquo;SARs&rdquo;) either with a stock option which may be exercised
                    only at such times and to the extent the related option is exercisable
                    (&ldquo;Tandem SAR&rdquo;) or independent of a stock option (&ldquo;Non-Tandem
                    SARs&rdquo;). An SAR is a right to receive a payment either in cash or common
                    stock, as the Committee may determine, equal in value to the excess of the fair
                    market value of one share of Common Stock on the date of exercise over the
                    exercise price per share established in connection with the grant of the SAR.
                    The exercise price per share covered by an SAR is the exercise price per share
                    of the related option in the case of a Tandem SAR and is the fair market value
                    of the Common Stock on the date of grant in the case of a Non-Tandem
                    SAR. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Restricted Stock.</b>
                    &nbsp;The Committee may award &ldquo;restricted&rdquo; shares of Common Stock.
                    Upon the award of restricted stock, the recipient has all rights of a
                    stockholder with respect to the shares, including the right to receive
                    dividends, the right to vote the shares of restricted stock and, conditioned
                    upon full vesting of shares of restricted stock, the right to tender such
                    shares, subject to the conditions and restrictions generally applicable to
                    restricted stock or specifically set forth in the recipient&rsquo;s restricted
                    stock agreement. The Committee may determine at grant that the payment of
                    dividends, if any, shall be deferred until the expiration of the applicable
                    restriction period. Recipients of restricted stock are required to enter into a
                    restricted stock agreement with our Company which states the restrictions to
                    which the shares are subject and the criteria or date or dates on which such
                    restrictions will lapse. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Cash
                    Incentive Awards, Performance Units and Performance Shares.</b> &nbsp;The
                    Committee may grant performance shares entitling recipients to receive a fixed
                    number of shares of Common Stock or the cash equivalent thereof, as determined
                    by the Committee in its sole discretion, upon the attainment of performance
                    goals established by the Committee during a performance period specified by the
                    Committee. The Committee may grant performance units or cash incentive awards
                    entitling recipients to receive a value payable in cash or, in the case of
                    performance units, shares of Common Stock, as determined by the Committee, upon
                    the attainment of performance goals established by the Committee for a
                    specified performance cycle. The Committee may subject such grants of cash
                    incentive awards, performance units and performance shares to vesting and
                    forfeiture conditions as it deems appropriate. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Other
                    Stock-Based Awards.</b> &nbsp;The Committee may grant awards of Common Stock
                    and other awards that are valued in whole or in part by reference to, or are
                    payable in or otherwise based on, Common Stock and may be granted either alone
                    or in addition to or in tandem with stock options, stock appreciation rights,
                    restricted stock, performance shares or performance units. Other stock-based
                    awards may include awards in the nature of restricted stock units, each
                    representing a right to receive a share of stock at a future date upon
                    satisfaction of vesting and other conditions as may be specified by the
                    Committee. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Committee also determines the purchase price to be paid, if any, by a recipient
                    to purchase other stock-based awards (including, without limitation, shares of
                    Common Stock). The purchase of shares of Common Stock or other stock-based
                    awards may be made on either an after-tax or pre-tax basis, as determined by
                    the Committee; provided, however, that if the purchase is made on a pre-tax
                    basis, such purchase will be made pursuant to a deferred compensation program
                    established by the Committee, which will be deemed to be part of the
                    Plan. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">40 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Performance
                    Goals</i></b> </font>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">If the
                    grant of an award, the lapse of a relevant restriction, or the earning or
                    vesting of an award or right to exercise an award, including cash incentive
                    awards as authorized by the amendment, is to be based on the attainment of
                    objective performance goals, the Committee shall establish the performance
                    goals, formulae or standards and the amount of the award to become earned or
                    vested applicable to each recipient while the outcome of the performance goals
                    are substantially uncertain. Such performance goals may incorporate provisions
                    for disregarding (or adjusting for) changes in accounting methods, corporate
                    transactions (including, without limitation, dispositions and acquisitions) and
                    other similar events or circumstances. Code Section 162(m) requires that
                    performance awards be based upon objective performance measures. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Such
                    performance goals will be based on one or more of the following criteria
                    (&ldquo;Performance Criteria&rdquo;): (i) revenues; (ii) income before income
                    taxes and extraordinary items, net income, income before income tax and stock
                    based compensation expense, earnings before income tax, earnings before
                    interest, taxes, depreciation and amortization or a combination of any or all
                    of the foregoing; (iii) operational cash flow; (iv) level of, reduction of, or
                    other specified objectives with regard to the our Company&rsquo;s bank debt or
                    other long-term or short-term public or private debt or other similar financial
                    obligations; (v) earnings per share or earnings per share from continuing
                    operations; (vi) return on capital employed or return on invested capital;
                    (vii) after-tax or pre-tax return on stockholders&rsquo; equity; (viii)
                    economic value added targets; (ix) fair market value of the shares of Common
                    Stock; and (x) the growth in the value of an investment in Common Stock
                    assuming the reinvestment of dividends. In addition, such performance goals may
                    be based upon the attainment of specified levels of our Company&rsquo;s (or a
                    subsidiary, division or other operational unit of our Company) performance
                    under one or more of the measures described relative to the performance of
                    other corporations. To the extent permitted under the Code, the Committee may:
                    (i) designate additional business criteria on which the performance goals may
                    be based; (ii) retain discretion to consider other types of performance or
                    other circumstances, as an exercise of &ldquo;negative discretion,&rdquo; so
                    long as one or more of the objective Performance Criteria has been achieved,
                    and (iii) adjust or modify the Performance Criteria, including by specifying
                    that particular items of income or expense will be included or excluded from
                    the Performance Criteria. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Change-in-Control</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Unless
                    determined otherwise by the Committee at the time of grant, and except to the
                    extent provided in the applicable award agreement, the recipient&rsquo;s
                    employment agreement or other agreement approved by the Committee, accelerated
                    vesting or lapsing of restrictions of equity awards will occur upon a
                    change-in-control of the Company (as defined in the Plan) if the stock options
                    are not honored, assumed or substituted as provided in the Plan. Upon a
                    change-in-control of our Company, options granted to non-employee directors
                    would be subject to the rules described below. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Non-Employee Director
                    Stock Option Grants</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The Plan
                    authorizes the automatic grant of nonqualified stock options to each
                    non-employee director, without further action by the Board or the stockholders,
                    as follows: (i) options to purchase 4,500 shares of Common Stock are to be
                    granted to each non-employee director as of the date he or she begins service
                    as a non-employee director on the Board; and (ii) options to purchase 12,500
                    shares of Common Stock commencing on August 1, 2005 are to be granted to each
                    non-employee director as of each August 1, provided that the non-employee
                    director has served as a director for at least 6 months. The exercise price per
                    share of such options is the fair market value of the Common Stock at the time
                    of grant. The term of each such option is five years. Options granted to
                    non-employee directors are to vest and become exercisable at the rate of 25%
                    effective on the first and second anniversaries of the grant date and 50% on
                    the third anniversary of the grant date, provided that the option may be vested
                    only during the continuance of his or her service as a director of our Company.
                    All options granted to non-employee directors and not previously exercisable
                    will become fully exercisable upon death and immediately upon a
                    change-in-control of our Company (as defined in the Plan). </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">41 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Amendment and
                    Termination</i></b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    Board or Committee may at any time, amend any or all of the provisions of the
                    Plan, or suspend or terminate it entirely, retroactively or otherwise. However,
                    no amendment may be made without the approval of the Company&rsquo;s
                    stockholders in accordance with the laws of the State of Delaware, to the
                    extent required under Section 162(m) of the Code or, to the extent applicable
                    to ISOs, Section 422 of the Code, which would: (i) increase the aggregate
                    number of shares of Common Stock that may be issued; (ii) increase the maximum
                    individual participant share limitations for a fiscal year; (iii) change the
                    classification of employees or consultants eligible to receive awards; (iv)
                    decrease the minimum exercise price of any stock option or SAR; (v) extend the
                    maximum option term; (vi) materially alter the Performance Criteria; or (vii)
                    require stockholder approval in order for the Plan to continue to comply with
                    the applicable provisions of Section 162(m) of the Code or, to the extent
                    applicable to ISOs, Section 422 of the Code. Under these rules, however,
                    stockholder approval will not necessarily be required for all amendments which
                    might increase the cost of the 2000 Plan or broaden eligibility. Outstanding
                    options may not be modified to reduce the exercise price nor may a new option
                    at a lower exercise price be substituted for a surrendered option (as in a
                    &ldquo;repricing&rdquo; transaction), other than with respect to customary
                    adjustments to reflect corporate transactions, changes in the Company&rsquo;s
                    capital structure or other equity restructurings, unless such action is
                    approved by our Company&rsquo;s stockholders. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Vesting, Forfeitures,
                    and Acceleration</b>. The Committee may, in its discretion, determine the
                    vesting schedule of options and other awards, the circumstances that will
                    result in forfeiture of the awards, the post-termination exercise periods of
                    options and similar awards, and the events that will result in acceleration of
                    the ability to exercise and the lapse of restrictions, or the expiration of any
                    deferral period, on any award. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2"><b>Other
                    Terms of Awards</b>. Certain awards may be settled in cash, stock, other awards
                    or other property, in the discretion of the Committee. The Committee may
                    require or permit participants to defer the settlement of all or part of an
                    award in accordance with such terms and conditions as the Committee may
                    establish, including payment or crediting of interest or dividend equivalents
                    on any deferred amounts. The Committee is authorized to place cash, shares or
                    other property in trusts or make other arrangements to provide for payment of
                    our Company&rsquo;s obligations under the Plan. The Committee may condition
                    distributions under awards on the payment of taxes such as by withholding a
                    portion of the stock or other property to be distributed (or receipt of
                    previously acquired stock or other property surrendered by the participant) in
                    order to satisfy tax obligations. Awards granted under the Plan generally may
                    not be pledged or otherwise encumbered and are not transferable except by will
                    or by the laws of descent and distribution, or to a designated beneficiary upon
                    the participant&rsquo;s death, except the Committee may permit transfers not
                    for value for estate-planning purposes. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Awards
                    under the Plan are generally granted without a requirement that the participant
                    pay consideration in the form of cash or property for the grant (as
                    distinguished from the exercise of a stock option), except to the extent
                    required by law. Any outstanding option may not be modified to reduce the
                    exercise price of such option, nor may a new option at lower exercise price be
                    substituted for a surrendered option (other than with respect to customary
                    adjustments to reflect corporate transactions or changes in our Company&rsquo;s
                    capital structure) unless such action is approved by our Company&rsquo;s
                    stockholders. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Company may grant cash or equity awards apart from the Plan, subject to any
                    applicable regulatory restrictions. Thus, the Plan is not the exclusive means
                    by which cash and equity awards may be granted. The Plan is not subject to the
                    requirements of the Employee Retirement Income Security Act of 1974, as amended
                    (&ldquo;ERISA&rdquo;), nor is it a qualified plan under Section 401(a) of the
                    Code. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">42 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <font face="Times New Roman, Times, Serif" size="2"><b><i>Certain Federal
                    Income Tax Consequences Relating to the Plan</i></b> </font>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Company believes that under current law the following Federal income tax
                    consequences generally would arise with respect to awards under the 2000 Plan
                    taxable under U.S. income tax laws:&nbsp; </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Options
                    and SARs that are not deemed to be deferral arrangements under Code Section
                    409A would have the following tax consequences:&nbsp;The grant of an option or
                    an SAR will create no federal income tax consequences for the participant or
                    the Company. A participant will not have taxable income upon exercising an
                    option which is an ISO, except that the alternative minimum tax may apply. Upon
                    exercising an option which is not an ISO, the participant generally must
                    recognize ordinary income equal to the difference between the exercise price
                    and the fair market value of the freely transferable and non-forfeitable shares
                    acquired on the date of exercise. Upon exercising an SAR, the participant must
                    generally recognize ordinary income equal to the cash or the fair market value
                    of the shares received. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Upon a
                    disposition of shares acquired upon exercise of an ISO before the end of the
                    applicable ISO holding periods, the participant must generally recognize
                    ordinary income equal to the lesser of (i)&nbsp;the fair market value of the
                    ISO shares at the date of exercise minus the exercise price or (ii)&nbsp;the
                    amount realized upon the disposition of the ISO shares minus the exercise
                    price. For all options, a participant&rsquo;s sale of shares acquired by
                    exercise generally will result in short-term or long-term capital gain or loss
                    measured by the difference between the sale price and the participant&rsquo;s
                    tax &ldquo;basis&rdquo; in such shares. The tax &ldquo;basis&rdquo; normally is
                    the exercise price plus any amount he or she recognized as ordinary income in
                    connection with the option&rsquo;s exercise. A participant&rsquo;s sale of
                    shares acquired by exercise of an SAR generally will result in short-term or
                    long-term capital gain or loss measured by the difference between the sale
                    price and the tax &ldquo;basis&rdquo; in the shares, which normally is the
                    amount he or she recognized as ordinary income in connection with the
                    SAR&rsquo;s exercise. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Company normally can claim a tax deduction equal to the amount recognized as
                    ordinary income by a participant in connection with the exercise of an option
                    or SAR, but no tax deduction relating to a participant&rsquo;s capital gains.
                    Our Company will not be entitled to any tax deduction with respect to an ISO if
                    the participant holds the shares for the applicable ISO holding periods before
                    selling the shares. We intend that awards other than options and SARs that
                    result in a transfer to the participant of cash or shares or other property
                    generally will have terms that meet applicable requirements under Code Section
                    409A. If no restriction on transferability or substantial risk of forfeiture
                    applies to amounts distributed to a participant, the participant generally must
                    recognize ordinary income equal to the cash or the fair market value of shares
                    actually received. Thus, for example, if our Company grants an award in the
                    nature of restricted stock units that has vested or requires or permits
                    deferral of receipt of cash or shares under a vested award, the participant
                    should not become subject to income tax until the time at which shares or cash
                    are actually distributed, and our Company normally will be entitled to claim a
                    tax deduction at that time. On the other hand, if a restriction on
                    transferability and substantial risk of forfeiture applies to shares or other
                    property actually distributed to a participant under an award (such as, for
                    example, a grant of restricted stock), the participant generally must recognize
                    ordinary income equal to the fair market value of the transferred amounts at
                    the earliest time either the transferability restriction or risk of forfeiture
                    lapses. In all cases, our Company can claim a tax deduction in an amount equal
                    to the ordinary income recognized by the participant, except as discussed
                    below. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">A
                    participant may elect to be taxed at the time of grant of restricted stock or
                    other property rather than upon lapse of restrictions on transferability or the
                    risk of forfeiture, but if the participant later forfeits such shares or
                    property he or she would not be entitled to any tax deduction, including as a
                    capital loss, for the value of the shares or property on which he or she
                    previously paid tax. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Any
                    award that is deemed to be a deferral arrangement (not excluded or exempt under
                    applicable regulations) will be subject to Code Section 409A. Certain
                    participant elections and the timing of distributions relating to such awards
                    must meet requirements under Section 409A in order for income taxation to be
                    deferred upon vesting of the award and tax penalties avoided by the
                    participant. Some options and SARs may be subject to Code Section 409A, which
                    regulates deferral arrangements. In such case, the distribution to the
                    participant of shares or cash relating to the award would have to meet certain
                    restrictions in order for the participant not to be subject to tax and a tax
                    penalty at the time of vesting. One significant restriction would be a
                    requirement that the distribution not be controlled by the participant&rsquo;s
                    discretionary exercise of the option or SAR over an extended period. If the
                    distribution and other award terms meet Section 409A&rsquo;s requirements, the
                    participant would realize ordinary income at the time of distribution rather
                    than exercise, with the amount of ordinary income equal to the distribution
                    date value of the shares or cash less any exercise price actually paid. Our
                    Company would become entitled to a tax deduction at the time shares are
                    delivered at the end of the deferral period. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">43 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">As
                    discussed above, compensation that qualifies as &ldquo;performance-based&rdquo;
                    compensation is excluded from the $1&nbsp;million deductibility cap of Code
                    Section&nbsp;162(m), and therefore remains fully deductible by the company that
                    pays it. Under the Plan, (i) options and SARs granted with an exercise price or
                    base price at least equal to 100% of fair market value of the underlying stock
                    at the date of grant, (ii) incentive and performance awards to employees the
                    Committee expects to be named executive officers at the time compensation is
                    received, and (iii) certain other awards that are conditioned upon achievement
                    of performance goals are intended to qualify as such
                    &ldquo;performance-based&rdquo; compensation. A number of requirements must be
                    met in order for particular compensation to qualify, however, so there can be
                    no assurance that such compensation under the Plan will be fully deductible
                    under all circumstances. In addition, other awards under the Plan, such as
                    non-performance-based restricted stock and restricted stock units, generally
                    will not qualify, so that compensation paid to certain executives in connection
                    with such awards, to the extent it and other compensation subject to
                    Section&nbsp;162(m)&rsquo;s deductibility cap exceed $1&nbsp;million in a given
                    year, may not be deductible by our Company as a result of Section&nbsp;162(m).
                    Compensation to certain employees resulting from vesting of awards in
                    connection with a change-in-control or termination following a
                    change-in-control also may be non-deductible under Code Section
                    280G. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    foregoing provides only a general description of the application of federal
                    income tax laws to certain awards under the Plan. This discussion is intended
                    for the information of stockholders considering how to vote at the Annual
                    Meeting and not as tax guidance to participants in the Plan, as the
                    consequences may vary with the types of awards made, the identity of the
                    recipients and the method of payment or settlement. Different tax rules may
                    apply, including in the case of variations in transactions that are permitted
                    under the Plan (such as payment of the exercise price of an option by surrender
                    of previously acquired shares). The summary does not address in any detail the
                    effects of other federal taxes (including possible &ldquo;golden
                    parachute&rdquo; excise taxes) or taxes imposed under state, local or foreign
                    tax laws. </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">44 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a23"></a>PROPOSAL
                    NO. 4 &ndash; RATIFICATION OF SELECTION OF INDEPENDENT<br>
                    </b><b>REGISTERED PUBLIC ACCOUNTING FIRM</b> </font></p>
                </td>
            </tr>

            <tr>
                <td>
                    <hr noshade size="1">
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors has selected KPMG LLP as our independent registered public
                    accounting firm for the 2008 fiscal year, subject to ratification by our
                    stockholders. If our stockholders do not ratify such selection, it will be
                    reconsidered by our Board of Directors. Even if the selection is ratified, our
                    Audit Committee, in&nbsp;its discretion, may direct the appointment of a
                    different independent registered public accounting firm at any time during the
                    year if our Audit Committee determines that such a change would be in our
                    stockholders&rsquo; best interests. Representatives of KPMG are expected to be
                    present at the Annual Meeting of Stockholders, with the opportunity to make a
                    statement, should they so desire, and to be available to respond to appropriate
                    questions. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Principal Accountant
                    Fees and Services</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">The
                    following is a summary of the fees billed to us for the fiscal year ended July
                    31, 2006 and fees billed to or payable by us for the fiscal year ended July 31,
                    2007 by KPMG for professional services rendered: </font></p>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="bottom">
                <th align="left">&nbsp;</th>

                <th align="left"><font face="Times New Roman, Times, Serif" size="2">Fee
                Category </font> </th>

                <th colspan="2"><font face="Times New Roman, Times, Serif" size="2">Fiscal 2007
                Fees </font> </th>

                <th>
                </th>

                <th colspan="2"><font face="Times New Roman, Times, Serif" size="2">Fiscal 2006
                Fees </font> </th>

                <th>&nbsp;</th>

                <th>&nbsp;</th>
            </tr>

            <tr valign="bottom">
                <td align="left">&nbsp;</td>

                <td align="left" colspan="6">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" width="10%" bgcolor="#ffffff">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">Audit fees (1) </font> </td>

                <td align="right" width="1%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="15%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">960,000 </font> </td>

                <td align="left" width="3%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" width="1%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" width="15%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">980,000 </font> </td>

                <td align="left" width="1%" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="left" width="10%" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">Audit-related
                fees (2) </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">30,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">30,000 </font>
                </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">Tax fees (3) </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">107,000 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">121,000 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="left" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">All other
                fees </font> </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="right">
                <font face="Times New Roman, Times, Serif" size="2">&mdash; </font> </td>

                <td align="left"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>

                <td align="left" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr valign="bottom">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left">&nbsp;</td>

                <td align="right" colspan="2">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="right" colspan="2">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr valign="bottom" bgcolor="#eaf9e8">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">Total Fees </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">1,097,000 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">$ </font> </td>

                <td align="right" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">1,131,000 </font> </td>

                <td align="left" bgcolor="#eaf9e8">
                <font face="Times New Roman, Times, Serif" size="2">&nbsp; </font> </td>

                <td align="left" bgcolor="#ffffff">&nbsp;</td>
            </tr>

            <tr>
                <td align="right" bgcolor="#ffffff">&nbsp;</td>

                <td align="right">&nbsp;</td>

                <td align="right" colspan="2">
                    <hr noshade size="2">
                </td>

                <td>
                </td>

                <td align="right" colspan="2">
                    <hr noshade size="2">
                </td>

                <td>
                </td>

                <td>
                </td>
            </tr>

            <tr valign="bottom">
                <td align="left" bgcolor="#ffffff">&nbsp;</td>

                <td align="left" colspan="6">
                    <hr noshade size="1">
                </td>

                <td align="left">&nbsp;</td>

                <td align="left">&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top">&nbsp;</td>

                <td valign="top">&nbsp;</td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(1) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Audit fees consists of
                        fees for assurance and related services that are reasonably related to the
                        performance of the audit of our annual financial statements and review of
                        the interim financial statements included in quarterly reports or services
                        that are normally provided in connection with statutory and regulatory
                        filings or engagements. Audit fees include fees related to the audit of our
                        report on internal control over financial reporting. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(2) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Audit-related fees
                        consists of fees for assurance and related services that are reasonably
                        related to the audit of our annual financial statements that are not
                        reported under &ldquo;Audit Fees,&rdquo; including the audit of our 401(k)
                        plan. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, serif" size="2">&nbsp; </font>
                </td>

                <td valign="top">
                </td>
            </tr>

            <tr>
                <td valign="top" width="48">
                <font face="Times New Roman, Times, serif" size="2">(3) </font> </td>

                <td valign="top">
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Tax fees consists of
                        fees billed for professional services regarding federal, state and
                        international tax compliance, tax advice and tax planning. </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>

            <tr>
                <td valign="top">
                    <p><font face="Times New Roman, Times, Serif" size="2"><b>Pre-Approval
                    Policies</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Audit Committee reviews each service on a case-by-case basis before approving
                    the engagement of KPMG for all audit or permissible non-audit
                    services. </font></p>

                    <p align="justify">
                    <font face="Times New Roman, Times, Serif" size="2"><b>Consideration of
                    Non-Audit Services Provided by the Independent Registered Public Accounting
                    Firm</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Audit Committee has concluded that the non-audit services provided by KPMG are
                    compatible with maintaining the independent registered public accounting
                    firm&rsquo;s independence. </font></p>

                    <p align="center"><font face="Times New Roman, Times, Serif" size="2"><b><u>Our
                    Board of Directors recommends a vote FOR the ratification of the selection
                    of<br>
                    </u></b><b><u>KPMG as our independent registered public accounting
                    firm.</u></b> </font></p>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">45 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a24"></a>OTHER
                    BUSINESS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Our
                    Board of Directors does not presently intend to bring any other business before
                    the annual meeting, and, so far is known to our Board of Directors, no matters
                    are to be brought before the annual meeting, except as specified in the Notice
                    of Annual Meeting. As to any business that may properly come before the annual
                    meeting, however, it is intended that proxies, in the form enclosed, will be
                    voted in respect thereof in accordance with the judgment of the persons voting
                    such proxies. </font></p>

                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a25"></a>STOCKHOLDER
                    PROPOSALS AND NOMINATIONS</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Eligible
                    stockholders wishing to have a proposal for action by the stockholders at the
                    2008 Annual Meeting included in our proxy statement must submit such proposal
                    at the principal offices of Comtech not later than July 4, 2008. It is
                    suggested that any such proposals be submitted by certified mail, return
                    receipt requested. Under our By-Laws, a stockholder nomination for election to
                    our Board of Directors may not be made at the 2008 Annual Meeting unless notice
                    (including all information that would be required in connection with such
                    nomination under the Securities and Exchange Commission&rsquo;s proxy rules if
                    such nomination were the subject of a proxy solicitation and the written
                    consent of each nominee for election to our Board of Directors named therein to
                    serve if elected) and the name, address and number of shares of Common Stock
                    held of record or beneficially by the person proposing to make such nomination
                    is delivered in person or mailed to Comtech and received by us not earlier than
                    August 8, 2008 or later than September 7, 2008; provided, however, that if the
                    2008 Annual Meeting is not held within 30 days before or after the anniversary
                    date of the 2007 Annual Meeting, such notice must be received not more than 90
                    days prior to the 2008 Annual Meeting or less than 60 days prior to the 2008
                    Annual Meeting. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">Under
                    the SEC&rsquo;s proxy rules, proxies solicited by our Board of Directors for
                    the 2008 Annual Meeting may be voted at the discretion of the persons named in
                    such proxies (or their substitutes) with respect to any stockholder proposal
                    not included in our proxy statement if we do not receive notice of such
                    proposal on or before September&nbsp;17, 2008, unless the 2008 Annual Meeting
                    is not held within 30 days before or after the anniversary date of the 2007
                    Annual Meeting. </font></p>

                    <p align="center">
                    <font face="Times New Roman, Times, Serif" size="2"><b><a name="a26"></a>HOUSEHOLDING</b> </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">We have
                    previously adopted a procedure approved by the SEC called
                    &ldquo;householding.&rdquo; Under this procedure, we satisfy the delivery
                    requirements for proxy materials with respect to two or more stockholders
                    sharing the same address by delivering a single proxy statement and annual
                    report address to those stockholders. This procedure reduces our printing costs
                    and postage fees. Once a stockholder has received a householding notice from
                    its broker, householding will continue until the stockholder is notified
                    otherwise or until the stockholder has revoked consent by notifying the broker.
                    Each stockholder who participates in householding will continue to receive a
                    separate proxy card. </font></p>

                    <p align="justify"><font face="Times New Roman, Times, Serif" size="2">If any
                    stockholders in your household wish to receive a separate annual report, they
                    may send their request to Comtech Telecommunications Corp., Attention:
                    Corporate Secretary, 68 South Service Road, Suite 230, Melville, NY
                    11747&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td width="50%">&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;By Order of the
                Board of Directors, </font> </td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp; </font> </td>

                <td><font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp; </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><img height="43" src="image003.jpg" width="164"></td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td><font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;Patrick
                O&rsquo;Gara </font> </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td>
                <font face="Times New Roman, Times, Serif" size="2">&nbsp;&nbsp;Secretary </font>
                </td>
            </tr>

            <tr>
                <td>&nbsp;</td>

                <td>&nbsp;</td>
            </tr>

            <tr>
                <td><font face="Times New Roman, Times, Serif" size="2">Date:&nbsp;&nbsp;
                November&nbsp;1, 2007 </font> </td>

                <td>&nbsp;</td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">
                    <font face="TIMES NEW ROMAN, TIMES, SERIF" size="2">46 </font></p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>

        <p style="PAGE-BREAK-AFTER: always"></p>
        <PAGE><br>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>
                    <p align="center"><font face="Times New Roman, Times, Serif" size="2"><b>The
                    Annual Meeting of Stockholders of<br>
                    </b><b>Comtech Telecommunications Corp.<br>
                    </b><b>will be held at 10:00 a.m. on December 6, 2007 at<br>
                    </b><b>68 South Service Road (Lower Level Auditorium), Melville, (Long Island),
                    New York 11747</b> </font></p>
                </td>
            </tr>

            <tr>
                <td valign="top"><font face="Times New Roman, Times, Serif" size="2">&nbsp; </font>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td align="center"><img height="423" src="map.jpg" width="600"></td>
            </tr>

            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <b><font face="Times New Roman, Times, serif" size="2">FROM KENNEDY
                        AIRPORT </font></b>
                    </div>
                </td>
            </tr>

            <tr>
                <td><font size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">JFK EXPRESSWAY EAST TO
                        BELT PARKWAY EAST (BECOMES SOUTHERN STATE PARKWAY AT NASSAU COUNTY BORDER).
                        TAKE SOUTHERN STATE PARKWAY EAST TO EXIT 28A NORTH (RT 135). TAKE RT. 135
                        NORTH TO LONG ISLAND EXPRESSWAY EAST (495). TAKE LIE TO EXIT 48 (ROUND
                        SWAMP RD.). PROCEED THROUGH THE LIGHT, REMAINING ON THE SOUTH SERVICE RD.
                        IN 1/4 MILE, TURN RIGHT INTO RECKSON BUSINESS PARK. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        &nbsp;
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font size="2"><b><font face="Times New Roman, Times, serif">FROM LAGUARDIA
                        AIRPORT </font></b> </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td><font size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">GRAND CENTRAL PARKWAY
                        TO LONG ISLAND EXPRESSWAY (495). TAKE LONG ISLAND EXPRESSWAY EAST TO EXIT
                        48 (ROUND SWAMP RD.). PROCEED THROUGH THE LIGHT, REMAINING ON THE SOUTH
                        SERVICE RD. IN 1/4 MILE, TURN RIGHT INTO RECKSON BUSINESS PARK. </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        &nbsp;
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font size="2"><b><font face="Times New Roman, Times, serif">FROM
                        MANHATTAN </font></b> </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td><font size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">MID-TOWN TUNNEL TO LONG
                        ISLAND EXPRESSWAY (495). TAKE LONG ISLAND EXPRESSWAY EAST TO EXIT 48 (ROUND
                        SWAMP RD.). PROCEED THROUGH THE LIGHT, REMAINING ON THE SOUTH SERVICE RD.
                        IN 1/4 MILE, TURN RIGHT INTO RECKSON BUSINESS PARK.<br>
                         </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        &nbsp;
                    </div>
                </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font size="2"><b><font face="Times New Roman, Times, serif">FROM EASTERN
                        LONG ISLAND </font></b> </font>
                    </div>
                </td>
            </tr>

            <tr>
                <td><font size="2">&nbsp; </font> </td>
            </tr>

            <tr>
                <td>
                    <div align="justify">
                        <font face="Times New Roman, Times, serif" size="2">TAKE THE LONG ISLAND
                        EXPRESSWAY (495) WEST TO EXIT 48 (ROUND SWAMP ROAD). TURN LEFT ONTO ROUND
                        SWAMP ROAD. MAKE IMMEDIATE TURN LEFT ONTO THE SOUTH SERVICE ROAD GOING
                        EAST. IN 1/4 MILE, TURN RIGHT INTO RECKSON BUSINESS PARK.<br>
                         </font>
                    </div>
                </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr>
                <td>&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><img height="63" src="image001.jpg" width="308"></td>
            </tr>

            <tr>
                <td align="center">&nbsp;</td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2">COMTECH
                TELECOMMUNICATIONS CORP. </font> </td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2">68 South
                Service Road, Suite 230 </font> </td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2">Melville,
                New York 11747 </font> </td>
            </tr>

            <tr>
                <td align="center"><font face="Times New Roman, Times, Serif" size="2">TEL: (631)
                962-7000 &bull;&nbsp; FAX: (631) 962-7001 </font> </td>
            </tr>

            <tr>
                <td align="center">
                <font face="Times New Roman, Times, Serif" size="2">www.comtechtel.com </font> </td>
            </tr>
        </table>

        <table cellspacing="0" cellpadding="0" width="600" border="0">
            <tr valign="top">
                <td width="600">
                    <br>


                    <p align="center">&nbsp;</p>
                    <hr color="gray" noshade size="5">
                </td>
            </tr>
        </table>
        <PAGE><br>

        <div style="WIDTH: 600px">
            <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
                <tr style="FONT-SIZE: 1px">
                    <td valign="top" width="50%">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top" width="50%">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top"><img height="68" src="logo.jpg" width="250"></td>

                    <td valign="top" rowspan="2">
                        <p align="justify">
                        <font face="arial" size="2"><b><font face="Times New Roman, Times, serif">VOTE
                        BY INTERNET - <u>www.proxyvote.com<br>
                        </u> </font></b> </font><font face="Times New Roman, Times, serif" size="2">Use
                        the Internet to transmit your voting instructions and for electronic
                        delivery of information up until 11:59 P.M. Eastern Time the day before the
                        cut-off date or meeting date. Have your proxy card in hand when you access
                        the web site and follow the instructions to obtain your records and to
                        create an electronic voting instruction form. </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p align="justify">
                        <font face="Times New Roman, Times, serif" size="2"><b><i>COMTECH
                        TELECOMMUNICATIONS CORP.<br>
                        C/O AMERICAN STOCK TRANSFER<br>
                        6201 15TH AVENUE<br>
                        BROOKLYN, NY 11219</i></b> </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p><font face="Times New Roman, Times, serif" size="2"><b>ELECTRONIC
                        DELIVERY OF FUTURE SHAREHOLDER COMMUNICATIONS</b> </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p align="justify"><font face="Times New Roman, Times, serif" size="2">If
                        you would like to reduce the costs incurred by Comtech Telecommunications
                        Corp. in mailing proxy materials, you can consent to receiving all future
                        proxy statements, proxy cards and annual reports electronically via e-mail
                        or the Internet. To sign up for electronic delivery, please follow the
                        instructions above to vote using the Internet and, when prompted, indicate
                        that you agree to receive or access shareholder communications
                        electronically in future years. </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p><font face="Times New Roman, Times, serif" size="2"><b>VOTE BY PHONE
                        -1-800-690-6903</b> </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p align="justify"><font face="Times New Roman, Times, serif" size="2">Use
                        any touch-tone telephone to transmit your voting instructions up until
                        11:59 P.M. Eastern Time the day before the cut-off date or meeting date.
                        Have your proxy card in hand when you call and then follow the
                        instructions. </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p><font face="Times New Roman, Times, serif" size="2"><b>VOTE BY
                        MAIL</b> </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top">
                        <p align="justify">
                        <font face="Times New Roman, Times, serif" size="2">Mark, sign and date
                        your proxy card and return it in the postage-paid envelope we have provided
                        or return it to Comtech Telecommunications Corp., c/o BROADRIDGE, 51
                        Mercedes Way, Edgewood, NY 11717. </font></p>
                    </td>
                </tr>
            </table>
            <br>

            <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
                <tr style="FONT-SIZE: 1px">
                    <td valign="top" width="401">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top" width="52">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="top" width="269">
                        <p align="right">&nbsp;</p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" nowrap>
                        <p><font face="arial" size="1">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK
                        INK AS FOLLOWS:&nbsp; </font></p>
                    </td>

                    <td valign="top">
                        <p align="right"><font face="arial" size="1">CMTEL1 </font></p>
                    </td>

                    <td valign="top" nowrap>
                        <p align="right"><font face="arial" size="1">KEEP THIS PORTION FOR YOUR
                        RECORDS </font></p>
                    </td>
                </tr>

                <tr>
                    <td style="BORDER-TOP: black 2px dashed" valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 2px dashed" valign="top">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 2px dashed" valign="top" nowrap>
                        <p align="right"><font face="arial" size="1">DETACH AND RETURN THIS PORTION
                        ONLY </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" colspan="3">
                        <p align="center"><font face="arial" size="2"><b>THIS PROXY CARD IS VALID
                        ONLY WHEN SIGNED AND DATED.</b> </font></p>
                    </td>
                </tr>
            </table>

            <div style="BORDER-RIGHT: black 2px solid; PADDING-RIGHT: 3%; BORDER-TOP: black 2px solid; PADDING-LEFT: 3%; PADDING-BOTTOM: 3%; BORDER-LEFT: black 2px solid; WIDTH: 100%; PADDING-TOP: 3%; BORDER-BOTTOM: black 2px solid">
                <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
                    <tr>
                        <td style="WIDTH: 44.54%" valign="top" colspan="4">
                            <p>
                            <font face="arial" size="2"><img height="68" src="logo.jpg" width="250">
                             </font></p>
                        </td>

                        <td valign="top" width="15%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" colspan="10">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="24">
                            <p>&nbsp;</p>
                        </td>

                        <td style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-LEFT: medium none; WIDTH: 10%; BORDER-BOTTOM: medium none" valign="top" width="6%">
                            <p>
                            <font face="arial" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
                        </td>

                        <td valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 4.12%" valign="top" width="2%">
                            <p>&nbsp;</p>
                        </td>

                        <td style="WIDTH: 40.42%" valign="top" colspan="4">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="6%">
                            <p>&nbsp;</p>
                        </td>

                        <td style="WIDTH: 44.26%" valign="top" colspan="11">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 40.42%" valign="top" colspan="5">
                            <p><font face="Times New Roman, Times, serif" size="2">PROPOSAL
                            1. </font></p>
                        </td>

                        <td valign="top" width="6%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 44.26%" valign="top" colspan="11">
                            <p>
                            <font face="Times New Roman, Times, serif" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
                        </td>

                        <td valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 4.12%" valign="top" width="2%">
                            <p><font face="Times New Roman, Times, serif" size="2">1. </font></p>
                        </td>

                        <td valign="top" colspan="4" rowspan="4">
                            <p><font face="Times New Roman, Times, serif" size="2">Election of
                            Director.<br>
                            <br>
                            <b>Nominees:</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>
                            <font face="Times New Roman, Times, serif" size="2">01)&nbsp;&nbsp;Fred
                            Kornberg<br>
                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02)
                            &nbsp;Edwin Kantor<br>
                            &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03)
                            &nbsp;Robert G. Paul </font></p>
                        </td>

                        <td valign="top" width="6%">
                            <p>
                            <font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
                        </td>

                        <td valign="bottom" width="6%" rowspan="2">
                            <p style="TEXT-ALIGN: center" align="center">
                            <font face="Times New Roman, Times, serif" size="1"><b>For</b><br>
                            <strong>ALL</strong><br>
                             </font></p>
                        </td>

                        <td valign="bottom" width="5%" rowspan="2">
                            <p style="TEXT-ALIGN: center" align="center">
                            <font face="Times New Roman, Times, serif" size="1"><b>Withhold</b><br>
                            <strong>ALL</strong><br>
                             </font></p>
                        </td>

                        <td valign="bottom" width="3%" rowspan="2">
                            <p style="TEXT-ALIGN: center" align="center">
                            <font face="Times New Roman, Times, serif" size="1"><strong>For ALL<br>
                            Except</strong><br>
                             </font></p>
                        </td>

                        <td style="WIDTH: 2.02%" valign="top" width="1%">
                            <p></p>
                        </td>

                        <td valign="top" colspan="7" rowspan="2">
                            <p>
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font size="2">To withhold authority to vote for any<br>
                            individual nominee(s), mark &ldquo;For All<br>
                            Except&rdquo; and write the number(s) of<br>
                            of the nominee(s) on the line below. </font> </font> </font></p>
                        </td>

                        <td style="WIDTH: 1.88%" valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 4.12%" valign="top" width="2%">
                            <p></p>
                        </td>

                        <td valign="top" width="6%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 1.88%" valign="top" width="1%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 1.88%" valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 4.12%" valign="top" width="2%">
                            <p></p>
                        </td>

                        <td valign="top" width="6%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 3.84%" valign="top" width="6%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 8.22%" valign="top" width="5%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 5.8%" valign="top" width="3%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 2.02%" valign="top" width="1%">
                            <p>
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font> </font> </font></p>
                        </td>

                        <td valign="top" colspan="7">
                            <p></p>
                        </td>

                        <td style="WIDTH: 1.88%" valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td style="WIDTH: 4.12%" valign="top" width="2%">
                            <p></p>
                        </td>

                        <td valign="top" width="6%">
                            <p></p>
                        </td>

                        <td style="WIDTH: 3.84%" valign="top" width="6%">
                            <p align="center">
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font face="WINGDINGS" size="3">o </font> </font> </font></p>
                        </td>

                        <td style="WIDTH: 8.22%" valign="top" width="5%">
                            <p align="center">
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font face="WINGDINGS" size="3">o </font> </font> </font></p>
                        </td>

                        <td style="WIDTH: 5.8%" valign="top" width="3%">
                            <p align="center">
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font face="WINGDINGS" size="3">o </font> </font> </font></p>
                        </td>

                        <td style="WIDTH: 2.02%" valign="top" width="1%">
                            <p></p>
                        </td>

                        <td valign="top" colspan="7">
                            <p>
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif">
                            <font size="2">____________________________________ </font> </font> </font></p>
                        </td>

                        <td style="WIDTH: 1.88%" valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>
                </table>

                <table cellspacing="0" cellpadding="0" border="0">
                    <tr>
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;&nbsp;&nbsp;</td>

                        <td align="center">
                        <strong><font face="Times New Roman, Times, serif" size="2">For </font></strong>
                        </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><strong><font size="2">Against </font></strong> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><strong><font size="2">Abstain </font></strong> </td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr>
                        <td colspan="3">
                        <font face="Times New Roman, Times, serif" size="2">PROPOSAL 2. </font>
                        </td>

                        <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td><font face="Times New Roman, Times, serif" size="2">2. </font> </td>

                        <td>&nbsp;&nbsp;&nbsp;</td>

                        <td><font face="Times New Roman, Times, serif" size="2">Approval of
                        amendment to our By-Laws to permit direct registration of uncertificated
                        shares of capital stock in accordance with the NASDAQ Stock Market LLC
                        requirements. </font> </td>

                        <td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td colspan="3">
                        <font face="Times New Roman, Times, serif" size="2">PROPOSAL 3. </font>
                        </td>

                        <td>&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td><font face="Times New Roman, Times, serif" size="2">3. </font> </td>

                        <td>&nbsp;</td>

                        <td><font face="Times New Roman, Times, serif" size="2">Approval of
                        amendment to our 2000 Stock Incentive Plan increasing the number of shares
                        of our common stock subject to awards under the Plan or with respect to
                        which awards may be granted. </font> </td>

                        <td>&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td>&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td colspan="3">
                        <font face="Times New Roman, Times, serif" size="2">PROPOSAL 4. </font>
                        </td>

                        <td>&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td align="center">&nbsp;</td>

                        <td>&nbsp;</td>
                    </tr>

                    <tr valign="top">
                        <td><font face="Times New Roman, Times, serif" size="2">4. </font> </td>

                        <td>&nbsp;</td>

                        <td><font face="Times New Roman, Times, serif" size="2">Ratification of
                        selection of KPMG LLP as our independent registered public accounting
                        firm. </font> </td>

                        <td>&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td align="center">&nbsp;</td>

                        <td align="center"><font face="WINGDINGS" size="3">o </font> </td>

                        <td>&nbsp;</td>
                    </tr>
                </table>
                <br>

                <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
                    <tr style="FONT-SIZE: 1px">
                        <td valign="top" width="4%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="1%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="84%">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top" width="11%">
                            <p>&nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="3">
                            <p><font face="Times New Roman, Times, serif" size="2"><b>This proxy
                            will be voted or withheld from being voted in accordance with the
                            instructions specified. WHERE NO CHOICE IS SPECIFIED, THIS PROXY WILL
                            BE VOTED FOR THE NOMINEES &nbsp;LISTED ABOVE AND FOR APPROVAL OF
                            PROPOSALS 2, 3 AND 4.</b> </font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" colspan="3">
                            <p><br>
                            <font face="Times New Roman, Times, serif" size="2">PLEASE SIGN, DATE
                            AND RETURN THIS PROXY CARD PROMPTLY IN THE ENCLOSED ENVELOPE.<br>
                            <br>
                             </font></p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top">
                            <p>
                            <font face="Times New Roman, Times, serif"><font face="Times New Roman, Times, serif" size="2">
                            <b>NOTE:</b> </font> </font></p>
                        </td>

                        <td valign="top">
                            <p></p>
                        </td>

                        <td valign="top">
                            <p align="justify">
                            <font face="Times New Roman, Times, serif" size="2">Please sign exactly
                            as name appears hereon. When signing as executor, administrator,
                            attorney, trustee or guardian, please give your full title as such. If
                            a corporation, please sign in full corporate name by president or other
                            authorized officer. If a partnership, please sign in partnership name
                            by authorized person. If a joint tenancy, please have both tenants
                            sign. </font></p>
                        </td>

                        <td valign="top">
                            <p>&nbsp;</p>
                        </td>
                    </tr>
                </table>

                <table cellspacing="0" cellpadding="0" width="95%" align="center" border="0">
                    <tr style="FONT-SIZE: 20pt">
                        <td style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 2px solid" valign="top" width="35%">
                        &nbsp;</td>

                        <td style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-BOTTOM: black 2px solid" valign="top" width="10%">
                        &nbsp;</td>

                        <td valign="top" width="10%">&nbsp;</td>

                        <td style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-BOTTOM: black 2px solid" valign="top" width="35%">
                        &nbsp;</td>

                        <td style="BORDER-RIGHT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-BOTTOM: black 2px solid" valign="top" width="10%">
                        &nbsp;</td>
                    </tr>

                    <tr>
                        <td valign="top" nowrap>
                            <p><font face="Times New Roman, Times, serif" size="1">Signature
                            [PLEASE SIGN WITHIN BOX] </font></p>
                        </td>

                        <td valign="top">
                            <p>
                            <font face="Times New Roman, Times, serif" size="1">&nbsp;Date </font></p>
                        </td>

                        <td valign="top">
                            <p>&nbsp;</p>
                        </td>

                        <td valign="top">
                            <p><font face="Times New Roman, Times, serif" size="1">Signature (Joint
                            Owners) </font></p>
                        </td>

                        <td valign="top">
                            <p><font face="Times New Roman, Times, serif" size="1">Date </font></p>
                        </td>

                        <td valign="top">
                            <p>&nbsp;</p>
                        </td>
                    </tr>
                </table>
            </div>
            <br>
            <hr align="center" width="100%" noshade size="5">

            <p style="PAGE-BREAK-AFTER: always"></p>
            <PAGE><br>

            <p align="center"><font face="Times New Roman" size="2"><b>Please date, sign and mail
            your<br>
            proxy card back as soon as possible!</b> </font></p>

            <p align="center"><font face="Times New Roman" size="2"><b>Annual Meeting of
            Stockholders<br>
            COMTECH TELECOMMUNICATIONS CORP.</b> </font></p>

            <p align="center"><font face="Times New Roman" size="2"><b>December 6,
            2007</b> </font></p>

            <p>&nbsp;</p>

            <p>&nbsp;</p>

            <table cellspacing="0" cellpadding="0" width="100%" align="center" border="0">
                <tr style="FONT-SIZE: 1px">
                    <td valign="top" width="100%">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="FONT-SIZE: 1px">
                    <td style="BORDER-BOTTOM: black 2px dashed" valign="bottom">&nbsp;</td>
                </tr>
            </table>
            <br>

            <div style="BORDER-RIGHT: black 2px solid; PADDING-RIGHT: 5%; BORDER-TOP: black 2px solid; PADDING-LEFT: 5%; PADDING-BOTTOM: 5%; BORDER-LEFT: black 2px solid; WIDTH: 100%; PADDING-TOP: 5%; BORDER-BOTTOM: black 2px solid">
                <p align="center"><font face="Times New Roman" size="2"><b>COMTECH
                TELECOMMUNICATIONS CORP.</b> </font></p>

                <p align="center"><font face="Times New Roman" size="2"><b>PROXY SOLICITED ON
                BEHALF OF BOARD OF DIRECTORS</b> </font></p>

                <p align="justify">
                <font face="Times New Roman" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
                undersigned hereby appoints Fred Kornberg and Robert G. Rouse, and each of them,
                with full power of substitution, proxies to vote at the Annual Meeting of
                Stockholders of Comtech Telecommunications Corp. (the &ldquo;Company&rdquo;) to be
                held at Comtech Telecommunications Corp., 68 South Service Road, Lower Level
                Auditorium, Melville, New York 11747 on December 6, 2007, at 10:00 a.m., local
                time, and at any adjournment or adjournments thereof, hereby revoking any proxies
                heretofore given, to vote all shares of Common Stock of the Company held or owned
                by the undersigned as directed on the reverse side of this proxy card and in their
                discretion, upon such other matters as may come before the meeting. </font></p>

                <p align="justify"><font face="Times New Roman" size="2"><b>This proxy will be
                voted or withheld from being voted in accordance with the instructions specified.
                WHERE NO CHOICE IS SPECIFIED, THIS PROXY WILL BE VOTED FOR THE NOMINEES LISTED ON
                THE REVERSE SIDE AND FOR APPROVAL OF PROPOSALS 2, 3 AND 4.</b> </font></p>

                <p align="justify"><font face="Times New Roman" size="2">PLEASE SIGN, DATE AND
                RETURN THIS PROXY CARD PROMPTLY IN THE ENCLOSED ENVELOPE. </font></p>

                <p align="center"><font face="Times New Roman" size="2"><b>(To be Signed on Reverse
                Side.)</b> </font></p>
            </div>
            <br>
            <hr align="center" width="100%" noshade size="5">
        </div>
    </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image001.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"``_`30#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V2BBO.OB/
M\4H?"^_2M)V7&JD?.QY2W^OJWM^?I0!UOB'Q7HOA:U\_5KU(2PRD0^:1_HHY
M_'I7DVO_`!WU&=FBT"PCM(^TUQ\[G_@/0?K7EU_J%YJEY)>7]S)<W$AR\DC9
M)K4\->#==\67!CTJS9XU.'G?Y8T^K?T&30`NH^./%&JL3=Z[>L#_``I*47\E
MP*Q))I9FW2R/(WJS$FO8+3X1>&-'*CQ-XC+S]6AM\(!^A)_2MVR^'_PPO6$%
MMB61N!NNI`Q^F2*KDE:]B>>-[7/"[35]2L&#6>H75L1T\J9E_D:[3P_\9/$^
MD2*E],NJVP/*7'#X]G'/YYKM-?\`@1IDT#2:#?36LX&5BN#OC;VSC(_6O&-6
MTF^T/4IM.U&W:"YA.&1OT(/<'UJ2CZ>\)>--(\8V1GTZ4K-&!YUM)Q)'_B/<
M5T%?(NA:W?>'=7@U33I3'/"V?9AW4CN#7U1X=URV\2:#::M:<1W"9*YY1APR
MGZ$$4`:5%-=TC0O(RHHZEC@5!'J5A,^R*]MW?^ZLJD_SH`LT44A8*,L0!ZDT
M`+13/-C)P)$_[Z%/H`***:9(U.#(H([%A0`ZBF^;'C/F)C_>%)YT7_/1/^^A
M0`^BF>=%_P`]4_[Z%*98P<&1/^^A0`ZBF>=%_P`]$_[Z%*LB,<*ZD^@.:`'4
M454FU;3;=]D^HVD3_P!UYU!_4T`6Z*9%-%.@DAD21#T9&!'Z4\D`9)``[F@`
MHIHDC8X5U)]`:=0`44TR1J<%U!]"13@01D'(/<4`%%%%`!1110`4444`%%%%
M`''_`!*\:#P?X=+6[`ZC=YCME/\`#ZN1[?S(KYGFFDN)GFFD:221BSNQR6)Z
MDFNG^)&OS:_XVU"5I"8+>9H(%SPJK\N1]2,_C6)HFE3:YK=GI=OQ)=2K&#_=
MR>3^`R:`.L^'/P\;Q3*^IZFS0:-:G]X_0S$<E5/IZG_([G4_$,\T*Z5HEE)8
MZ9%\L44,$B,P'J5(_P`]:WO&-M!X?\%6>BZ>GEVVY8MHV\J!DYR1G)Y-<?HM
MWI:NWVF&".2/H[0PG/\`WT^":]##4ER^T>IP8FJ^;D6AK6^F7T<:SRP7A)7+
M%_.Q_P"C*Q]06^N;LQQQ73*A^4(DI_FYK9NWL;C3IOLZ6CLZ$)B&U'/_`'WF
MN5F@DM0&E6%,\#`@/\C773NW=LY*EDK)&WH/B/5=#N!L>>6W8_O(I8V8'Z9;
M@UW&K>$?#/CM+;4=0M&ED1-JLDI5E'7:VT]OZUY1&8GD5"T*ACC)2'BO1?AX
MKV=U=V8N(I(G02!$,?#`X)PA/8_I6&+I+EYNIOA*LK\O07_A37@G_H'S_P#@
M4_\`C7):]X\TCX>6\_AOP5%YDJR%I9I9#+'"_`(7)Y/'T!]:[+XK>*9?#/A!
M_LCE+R^;R(6'5!C+,/H/U(KR+X6>"H_%^OR2WX+:?8@/,N?]8Q^ZN??!)]A[
MUY9Z92@T_P`<_$"5KA5O]14G!DD?;$/89PH^@IVI_#'QCHUN;J;27>-!N9K>
M19"OOA3FOIF""&U@2"WB2**,;4C10%4>@`J2@#YN\%_%+6O#-W'!>W$M_IA(
M$D,K;FC'JA/(^G2NY^-NO0S>$-)CLK@/%J$WGJZ'[R*O'ZL*X?XPZ-::1XZD
M-FBQI=PK<-&HP%8D@X'N1G\:YK5-9EU'1](L)&++IT,B+GMN<M_+%`%&WO)[
M:YBG25]T3AU^8]0<U]>V=RMY9072?=GC61?H1G^M?*&J:))INC:/J#YQJ44D
M@![;7*_RP?QKZ-^&NH?VE\/M(F+9:.'R6^J$K_("@"YXP\36_A/PY<ZI-AG4
M;((R?]9(?NC^I]@:^6KS4;R_O)KRYN)))IW+R,6/))R:[CXE>);CQQXQBTC2
MLS6MO+]GMD3I+(3@M^?`]A[UQFMV$>F:U=:?%)YHMI#$7'\3+PQ'MD&@#J+;
MP?XGUGPCI<FDZ=/<PR/-,[K(H&20@')'9/UKD[Z"^TV^FLKS?%<0.4D0OG:P
MZC@U]3>&;--"\&:=;2?*+6S4R>QVY;]<U\QH)/$?BM1R9-1O?_0W_P#KT`;F
MG?#OQ=</:W,VF7"64A21Y6E4`1G!+?>STYK`N9KO6M>E^R^9)+>W)\J,-R2S
M<#]17TKX[O5T3P!JLL9V;+4PQ^Q;Y!_.OG+P?JECHGBJPU348Y9+>UD\PK$`
M6)`..I'?%`&M_P`*S\=_]`6Y_P"_R?\`Q5=1X,6Y^%R:CK?BNUE@FEB6&RMC
M(K/.<Y;&"<`87)/K76V?QM\.7U[!:16.I>9/(L:YC3`)..?FKR#QAK]YXV\9
M2S(6=9)1!9Q9X5,X4#Z]3[F@"_K/COQAXZU#[':O<+'(<1V-B&`Q[XY;ZGCZ
M4]/@_P"-I;?SSIJ*2,['N$W_`,Z]P\%>#+#P=H\=M!&KW;J#<W&/FD;N,]E'
M85T=`'RA'=>)O`^KF-9+O2[N,Y,9)`8>XZ,/S%>B:Y\35\2?">\27;!JAEBM
MYT0X#`G=O7V(4C':O5M;\,:)XC$0UC3HKOR<^67R"N>O((.*\6^,FA:!X<GT
MRST;3H[2657EF*,Q)&0%ZD^]`!\#;*2\\93WCLS)9VK$9.?F8A1^FZO?J^<_
MAKX_TSP/;WPN["XN9KMUPT14`*H/'/N378WGQYTN6RGC@TB]29XV6-F9,!B.
M">?6@#RWQ3J4VM>,M2N(I&/VB\<1@,>F["_IBOJ+2K(:=I%G8KTMH$B_[Y4"
MOF+P#IQU;QYI%LPW*;E9']POS'^5?5%`!1110`4444`%%%%`!1110!\<32M/
M/),YRTC%F^I.:[7X.B(_$>Q\W&1'+LS_`'MA_IFN<\4Z6^B^*-2TYUV^1<.%
M'^SG*G\B*K:1JESHNK6NIV;;9[602)GH<=C['I0!]1>+K`7NBLQ"GR6WDLP7
M`Q@G)5L?@*\AO;>XLIUC,X=7^ZR%B/IDH.:]:\(^--)\8:>L]C,J7`4>=:LW
MSQGOQW'N*J>(?#/GQM.ADFB3YEA_>RR!O5?W@KMPU=0]UG'B:#G[R,33M-GM
M-/CA-S)Y@&20+@#/T\NJ7B'3I9=+>22;S#'@@E9_E'XQT^;6;VV4M<V-W`JX
MSYHD4X/<`S9-5QXIMF<H\EP,G"!8Y6W?@)JZ8J=^8YVXVY3*TK0IC<074CD1
M??'[J<Y_)*])\*0S,T]S)/+(N`BAWFX/4\2*/;D50T?3M0U,K*PFMK;@YG6:
M-F]@OFD_B:["*)((EBCSM48&6+'\SS7/B:W-H;X>CRZGD/[0$,IM=$F&?)5Y
ME;_>(4C]`:C^`>JVJ#5-(=U6YD99XP3RZ@$''TX_.O2_%OAFT\6^'Y]*NCLW
M_-%*!DQN.C?X^Q-?.&M^%_$?@C5%>XAGMVB?,-Y`3L/H58=/IUKA.T^J:J:I
MJMCHNG2ZAJ-PEO;1#+.Q_0>I]J^>H/C)XT@MQ";Z&4@8$DENI:J`B\;?$>^0
ML+S4<'AF&V&/^2B@"OXGUF[\>>-)+JVMW9[J18;6`<D*.%'U[GZFL?5;-;'5
MKBRC82?9Y#$6'1F7@D?B#7O/A+X>V7P^T>[UV_=+O5(;9Y"X'R0@*3A/4GIF
MO%_"VG3:UXRTVVE1F^T7:&0D=1NRWZ9H`]$^*^@#3OAWX:VIAK`+`Y]"R`G]
M5KG-%\?MH?PNN]#MI"M_<73)&1UCB91N;ZYR!]<]J];^+.GG4/AWJ(5<O!LF
M7'^RPS^A->!>$O#%WXI\16VEQ*Z)(VZ:3'^KC'WC_A[D4`>@_"#PREAIU[XV
MU&/"6T,GV0,/[H.]_P#V4?C7G?A^TDU_QA8V\GS->7B^9[@MEOTS7OOQ&>#P
M]\+KRSLH_+C\E+2%%[`D#^6:\J^#&EM=^/X;AXSLLX))LD<9QM'_`*%^E`'L
MWQ#U'^RO`6KW"MM8VYB3ZO\`*/YUX9\)-._M'XB:?D92V#W#?\!''ZD5Z3\=
M;]H?"EG8("6N[K<P']U`3_,BL+X!Z8WV_5M3="/+B2!"1W8Y/_H(H`W_`(ZZ
MC]F\(6UBI^:\NAD>JH"3^I6O/?AE\/K7QN=0DOKFXMX;78%,.,LS9]0>PK9^
M/%\]SXCT_3T#,MK;%VP.-SG_``45PVB>*O$GARWDM](OIK2.5][JL:G<<8SR
M#0![%;?!71])E-_:7][-<0HYB20IM+;2!G`]37B6@WJZ/XET^^N$.VTNDDD7
M'.%8$_CQ78>&O'7CG6/$NFZ<VMW)2XN41_W2?=S\W\/IFMSXF_"J]&HSZ[X>
MMS<0SL9)[6,?/&QZLH[@]<#D4`>TVUS#>6T=S;2K+#,H>-T.0P/0BI*^6=$\
M;^*?"(:TL;Z6"-2<VTZ!E4_[K#C\,5:U#QWXV\7#^S_MEQ,DG!M[.+;N]CM&
M2/K0![U/\0?"-M.\$OB"S62-BK`/G!'N*\*^*WB"U\1>-9+BPN%N+2&%(HI%
MZ'C)Q^+&NE\$_!B[N)H]1\4K]FM4^868/[R3_>(^Z/;K]*\]U)9-9\47#6\!
M1;N[*Q(J8"J6PH`]`,"@#U7PG\&]!U;PMIVHZC-?+<W4(E<1R*%`/(P"I[8K
M*^)'PW\.>#_#`U"RFO6NI)UBC6652O.2>`H[`U[=9VR65E!:QC"01K&OT`Q_
M2O'_`(^WSO+I&F("0JO.X`]<*/Y-0!C_``*T[[3XON;YA\MG:G!]&8@#]-U>
M_5Y9\!M,-OX<U#4'0JUS<B-<C^%%_P`6/Y5ZG0`4444`%%%%`!1110`4444`
M>;_%CX>-XDL_[8TF$'4[<?O(P.;A,=/]X8X]>GI7S\Z-&[(ZE64X96&"#Z5]
MDUR'BWX9Z!XM9KB6-K.^/_+U;@`M_O#HW\_>@#YHM[F>TG6>VFDAE0Y5XV*L
M/H177Z?\6_&FGQ>6-4%RHZ?:(E<C\<9K4UCX'^)K%F:PEM=0B'(*OY;_`(AN
M/UKB]0\.:MI<OE7MIY3GMYB-_(F@#J9/C+XNF&)9+%QZ-:J:9'\8/%4+;HO[
M/C/JMFH-<=]@N?\`GE_X\*/L%S_SR_\`'A3NQ6.W_P"%U^,_^?BT_P#`84G_
M``NOQG_S\6G_`(#"N)^P7/\`SR_\>%'V"Y_YY?\`CPI#.W_X77XR_P">UG_X
M#BD?XT^+Y$*/)9,IX*M;`@UQ/V"Y_P">7_CPH^P7/_/+_P`>%`'4#XFZP)/,
M&FZ*'_O?V='G\ZO)\:?&$:!$DLE4=`+8`"N)^P7/_/+_`,>%'V"Y_P">7_CP
MH`[<_&OQB1@S69'_`%[#_&D'QI\7@Y$ED#_U["N)^P7/_/+_`,>%'V"Y_P">
M7_CPH`[C_A=GC'&"]D?K;_\`UZNZ?\4OB!J,4LUC;V<J0C]XRVX&T>_->=?8
M+G_GE_X\*M6_VVVL;NT2W0B["*[DC("MNP.>Y`_*@#OF^)WQ%,=NS6EJ1<X\
MD?9@2^1D8&<\CFH[+XJ^/KZ&6>T@LWCB(#N+<``X)QDGV-<]+XBOY=0MKQM,
MBS;Q&(1^:=N#'Y8QSD8'I5:/4[J'1[G2X=.2.">5I/EF.5)4+CKR`!W]30!U
MDGQ0^(8M8KE[.W,4Q58S]DR26^[QG//;U[4]OB7\1XKI;7[#;^<Z-(J+:YRJ
M@ECP>V#GTKDVUJ^^VVU_'IENE["\;O-O)\S8NT#&[`&!SC]*EM/$.H:=<0M8
M:9;PPP(RQQ%RP^9E9R23D[@H7Z4`=)_PM'XA-&LIL+8JUN;H,;/K"#@OU^[G
MO39OBEX_@7=-86J#8DGS6>/E?[AZ]^U8*>+-:6\:Z:QM7+0+;E&'R>6"QV8S
MT);I["F#Q)JDMW-<WFGP732-!(`[D!7B4A#P>1R20>,T`=&?BA\04&\V%LH#
MR1[OL?&Z,9<9SU4<FI(/BA\1KEF6&RMW**K$?9<?>&Y>_)(Y`ZURB>(M;33)
MK`V\3Q30NC%CDAG9F:0<\,0Q7Z4DNMWMR)Q=:7;SAYO/B4N0(FV!!P&Y`"K@
M'TH`W9/B9XOU*!;N;2]-N8C,(!++8AE\PC(7)/7%6G^(OCW1V>'^RK&U*J&9
M([,#`)`&0#W)`'UKD+O7;[^PUTF6RMDLQLV!5^8,I)+9SDELG.?7VJ,>*;U+
MVYO(XX5EN+N*Y)P<*8R2J`9^[DC\A0!W3_$[XD)=16K:=;F>8,8T6U)+;1EA
MPW4#J.HJ.W^)_P`0;D;H-.M&PBR9%KCY6SMQ\W?!P.IQ7'+XMN+9U.GVL5F$
M$I38S,RR2;0SY)SG"@#VJ8^-KEKR\NGT^UW7*JH1=PC0*FT#;G!`ZC/0T`=/
M8_%WQYJ4K16=O93,@RV+?`4=.26P.:E7XH?$*6*>4:=:E;=F60FT.5*_>&"<
MG'?'2O/],U86$%Q;36D=W;W!1GCD9E^9"2IRI!QR<BK4/BB:&V5!9P&>'SA;
MS98>4)<[L#.#U.">GOQ0!VW_``M+XAI:17(L+40S%0C"UZ[ON\;N_;UJ._\`
MBYX]TR18[VVLX&<97=;]1G!P=WJ,5R8\::AFW!A@,=K+!)$FWA?*7:J^I'?G
MN*R[_5KG4T7[8WFRH?EDZ;5Y)4*.!R2>F:`/65^*?B./X=/K\XL_M<NHBUMP
M(3MV!-S$C//I63H_QB\8:GK-E8!;#-S<)%Q;G/S,!_>]ZS=>TR\/P[\*V-I#
MO#K-=R'<!RS87J?05'\-_#M\OCS39[JWVPV[-,QWJ?NJ2.A]<4`=%XN^,'B'
M2?%>HZ=IPLC:VLQB0R0EFXX.3GUS5[Q9\4?$6@Z7X?:$6?VN_L1=7.^(D#<?
MEP,\<9KRZ]T[4M4UJ>X:#YKNX9R2Z]6;/K[UUOQ#TJYU+XB6^G0Q9M[:.VLT
M)8#@`9[^K&@#K_$?Q#\1:9JOAS2;06ANM0M8)+K="3AY#C`&>.];FB>+]4U?
MXH:MH"B#^S-/C)R$^<L-HZY]2>W:N0NK&?5/CY;L8L6MC(@4DC@1QYZ?[PI/
M!EIJLT7BO7(O,CEN;M2YCD"R>5N9GVG/!Y'X`XH`]IHKRS3E\=7EC'-X<OT>
6S.0S7#@Y?)SLW9(7&WKCG/%%`'__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image002.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MP``+"``M`(T!`1$`_\0`'P```04!`0$!`0$```````````$"`P0%!@<("0H+
M_\0`M1```@$#`P($`P4%!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$(
M(T*QP152T?`D,V)R@@D*%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%56
M5UA96F-D969G:&EJ<W1U=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBI
MJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W
M^/GZ_]H`"`$!```_`/9:*8\L<957D52YPH8XR?:JNH:SINE)NO[Z&#/16?YF
M]@O4GZ5QK>,-9\7ZA-I/A&U>TMXFV76K7<>!%[(AZM]?Q`KK]$T>'0].6SBF
MGN#N+R37$A=Y7/5B3Z^W%:%%%5[^_M-+LI;V^N$M[>%=SR.<`"LBT\76)TUM
M0U8IHT#N?LZWLRI)+'V<J>5SSQUIEGXUT_4[V*#3;/4KR&1PINX[-Q`F>Y9L
M9'N,UT5%%%%%%%07HM#:2-?"$VZ#=(9L;%`[G/%<5;V8\57#?V):)I&AGB34
M(XA'<7P[B(XRJ?[74]J[/3].L]*L8K*PMTM[>(82-!@#_$^]6:BGNK>VV_:+
MB*'><+YCA<GVS4M<MXW\:KX3@M8;>R>_U*^8K:VR9^;'4G'/<<#KFLJ+P7J_
MBZ*WOO&VH2Q,C>9%IMBWEQP^A9N26_'CUJU`/AUX>U4V@;35U(,%;S3YT^X^
MK-ELUV1=%8(64,>BYY-.HKDH[K5/&%[*=/OI-.T*WD,7VB`#SKUU.&V,?N(#
MD9')P<5TUM+;X-M#<+*UN`CCS-[+Q_%WS]:6[N[:QM9+J[GCMX(QEY)6"JH]
MR:J:/X@TG7XY9-*OH[I86"R%,C:2,CJ.X[U9N[^SL(_,O+N"V3^]-($'ZUS6
MH?$[PG8+E=0:]8ML"V<32[F[`,!MS^-8=]I_C7QK?QR7.GVVEZ,A#0VM\Y<N
M>SR1J?F/HA(`[YJ_IVA^.="6]2VN],U)[N0O]IN99(V3C"XC`*J`.PXK4\(Z
M%K^DR7$VN:S]O:=%'E*SLL;#.2"Q[YZ``<4ES<>.K:65+>PT>^CWGRI3</$V
MTGC<NTC('7!YQ7/?\*YUG6Y99?$M_ISR7'$TT,#2S;?[D;/\L0_W5S[UV-]>
M7&G0PZ;H]BUW=",*@D<K'$HX#2/Z<=!DG'XUE)X"M;YS?>(+N?4-5;D7,<C0
MBW_V8@I^4<^Y/>H=4T2[\-Z7<:I8^+M1@2UC,A347%S"V/X3N&[GIP<USOAS
MX=W6L7%IK'B2V@AD<-=22P3R+<7$D@R`QX\L(#C`[BMVY^%]C_;%KJNFZMJ%
MC=6P8"4R>>S9XZR9['%:%GX1OK.:X9/%.INEUAI3((VD+`8X<CY1[`"MV.UE
M;2A:7$[-(8?+>93\Q.,;OKWKB)/AUKD5OIT%EXOF6.P&V*-K<+&@"X5@J$9<
M<G+$Y-9^E>`/%_A/3;S^P=3TQ[VX8&29X6,LPR?XF)52,D].M6]>T[Q1JNGV
M<VL2:7H]KI9$SW%W-]I\Q@N-S)M5.IR/?I4/@]_&L%G<S66G6%[%<R^9_:-\
M[V\MYQ@,4Y(4```8'`&!6[XEB\+Z?J0N)=#M]5UV[.(+81B260@=3G(11QEC
MP*LZ)X7D6[CUC76BN-14?N((EQ;V(/\`#&O<^KGD^U=-111116?K.NZ=H%F+
MG4)_+#';'&HW22MV5%'+'Z5AV>DZCXFOH=5\1P?9K.!O,LM))SM;M)-V+>B]
M%]S7644457OII8+1G@56E)"H'^[N)`!/MS7.>(QH>A:0^H^)[Z>[`Z*TK*';
M^ZD:D#_/)JGX;\-76L6]IJGB622:)"9;#3)&+);*22ADS]]P"!STQZUV]96C
M^&].T26>YMXVEO+HYN+N9M\LISGD^GL,"M6BBBBHY[B&U@>XN)4BBC&YW=L*
MH]2:P7U?5]:^3P_:BWMC_P`Q&]0A2/6./AF^IP/K4^E>%;+3KPZE<RS:EJ;#
M!O;MMSJ/1!T0>R@5MT4444UR`C$KN`&<`9S7FNAZ-J/CG7QXB\06<MO8PN?L
MUK<+M)`/RJ%/0<`LQY8X`X'/IE%%%%%%%9TME%J-^6NQYL5JP\J%ON;\9WD=
0SS@9Z5HT4444444445__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image003.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"``K`*0#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@!"0
MH))``Y)-9VF>(M&UFYN+;3=2M[N:V.)4B?)7_$>XKG=>FG\7:Z_A2PG>'3[9
M0^KW,1P3G[L"GL3U/H/RIF@V-DOQ&O5TFUBM['2-.2R81*`#*S;R/<@`9]S0
M!V]%-DD2*-I)&"H@+,Q/``ZFJ>CZQ9:[ID&HV$IDMYP3&S*5)P2.A^E`%ZBH
MY+B"&2..6:-'D.$5F`+'V'>I*`"BBLVVU_3;S7+O1;>X$E[9QK),@!PH;H,]
M,^WO0!I4444`%%(3@9-1W%U;V<)FN9XX8@0"\C!1DG`Y/N:`):**@AO+6XGG
MMX;B.26V8+,BL"8R1D`CMD<T`3T444`%%%%`!1110`5R?Q$\47OA?0X9=,BB
MGOKN<00PN"68E3RH'4@XKJR<#)K@O#7_`!6GC*[\4S`OIVF,UII:,."W\<OX
M]!_]:@#-\/:_-IF@+H_AK0]4O]8G)DN+J\MC#'YS?>DD9NP/;T%7O#4F@2VU
MSX,BUZ>?6)M]S?W=DQ1FE+`OMD`QQP/I3OBSXAFTO3++2XI)84U21DGEA7,G
MEJ!E$_VFR!7(^!GL_"UW>WAT>[E\27#&"WTB&%A]GCXQN<C&#P2V>WUH`U?&
M7@^TBFT[P]INI:I/J>J2X+7-_)((H5Y=RN<'CCGWKI]%T7P3X<\20:1IT*+K
M"P&107=V5<<DY)`)S[5S-OI7B_1/&DVL3:8VL:KJ5D%CF4XMK.0ORI8GA54#
MW//K6;HC:AX6\8:^/L=SKGB>X9(X'\HK'AE#.[-T"YP/HO:@#UK4-+TG6)H8
M[ZW@N9;.19H@WWHFSPP[CI^.*LR7EK%<QVTES"D\O^KB9P&?Z#J:\TTF#Q-X
M2US53<:;/KFMZP(F@NT7;;K@'<KMGY0I/3N,8K)TY=+T_7CJGC&74F\4VM^T
M@6*V=UF0`A%C`&-G.1TZ4`>G>+O$,/A;PS>:M+@M$F(D/\<AX4?G^@-<C\&[
MBPGTO4'CDDN-3EF$U_<LGRL[Y(56[XYS[DU6U;0O$GQ)URSCU?3Y-&\.VX\]
M8V=3-*3P`P!^5B.W8'UI_AG4[OP#HC:"_A#5[F[CFD;S;2$/%/ECM;?G^[@=
M,\4`>B1:A!+J,]@-RSP(KE6&-RMG#+ZC((^HJRS!5+,0`!DD]JY3PC9ZW=ZA
M>>)/$,`L[F[C6"WLE;/V>%23R?[Q)R?\BI_B'+=1>!-4-F)/,>((3&I9E1F`
M<@#GA2:`.4GOKOXA:A<7EQ.]CX)T[?YKB0QM>E0<G(YV@_YSTT_"7A\:[\/]
M/M]1:X2U-Y]KMXG?<WDB0M&C$YR,8JE8:?<^,([/2+6PGTSP=8*N1,ACDU`K
MT&.H3/)/?^6YXAU[6X[QO#_A717DNUC&;N==EM;J1Q@_Q'V%`&?XZ\;:II6K
MVNE>'+1KZZ@_TF_6--P2$?PL?X<]<]@!ZU/\,C_Q3YUG49HUU#7[E[I@S`%A
MDA54'L`./K7!Q>$]0U./[#;6/B.#6KYQ_:M_>2>7;J,_.1M/[SN`/0UBCPA>
MW=S/'HNBZF^I6]X?+$A:.*UA0X'SL1N=CSP<`=/8`^B6GA6=(&E02N"5C+#<
MP'4@=Z5Y8XRHDD5-[;5W'&X^@]Z\XMO!OBC3]7M/%]Q-%J^MKO$]FTWE1K&R
MX"QL00"O/7@Y/U/.>(M'\<^/?$GV:YLY=->RDS",D6T`P#O\P<NY/'`XQ0![
M;17%PM\2)+6.T6VT6T:-`C7<T[S,V!C=M`')]ZU/#'AN[T:6[O=2UBXU2_O=
MOFR.-L:A<X"(.`.30!T%%%%`$5Q`EU;2V\A8)*A1MIP<$8.#VJMH^D6>@Z3;
MZ981F.VMUVH"<GU))[DDU>HH`8\4<C*SQJQ0Y4L,[3ZBG8&<XYI:*`"DI:*`
E"DP,YI:*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@$`2`!(``#_X0^_17AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````;````<@$R``(````4````C8=I``0````!````I````-````!(````
M`0```$@````!061O8F4@4&AO=&]S:&]P($-3(%=I;F1O=W,`,C`P-CHQ,#HS
M,2`P-#HU,CHS,````````Z`!``,````!__\``*`"``0````!````^J`#``0`
M```!````1``````````&`0,``P````$`!@```1H`!0````$```$>`1L`!0``
M``$```$F`2@``P````$``@```@$`!`````$```$N`@(`!`````$```Z)````
M`````$@````!````2`````'_V/_@`!!*1DE&``$"`0!(`$@``/_M``Q!9&]B
M95]#30`"_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`+`"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`]3>]K&E[R&M:"7.)@`#DDKRSZX?XW;&V
MV8/U8V[6^U_47@.EP/N^R4O]FS_A[OYS_!T_S=R+_C>^MUM('U:P+-KK6BSJ
M+VQ.QVM6)/TF>I_.W_\`!>C_`(.VU<K]4_JS@OPQUWKC=^&YSJ\#"W;#DV,_
MG++'_39@T.]ESZO\)_VU<8Q,B`!9*)2$0230'5QS9]:?K$YQG.ZL6F7!OJWA
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MUE;66%UE-K*_?MWV?0L6?]7?\:74>K?6JGI%N/CLP<BZVMES`\6;6BQV/].Q
MS-S]E>_V)*?2TEE?6CKM7U?Z%E]4L`<ZED4UG\^UWLHKY#MOJ'])M_P6]>=8
MW^-KZT9&!=DU].QK'UVUU-;6RYPAS;K+7.VVN^CZ5:2GUI)>2]-_QM_6?.RJ
MJQT_&]!UC6W6L9<0QAUL>YPL+6;*][_<@T_XX/K9>W?3TO'L8#!<RNYP!YVR
MVQ)3[`DO/,O_`!JGIG0,.[/Q0_KN96ZTX3`ZJNJLO>S'MO-OJ6?I:6LM97_A
MO^"KLJ>L7_QUOKET^^JWK/2*Z\2[5C'578[G-_[KW7OL:[_MNQ)3ZZDN`ZI_
MC*N/5NA8G0ZJ;L?K3:G%^0';V>K<<3T_T5C6,LI?5<RW^=_2+;^OGUGR/JQT
M,=0QJZ[;WWLH8VV=GN#['R&.8[^;J?\`G)*>D26?T#-R>H]$P,_*:QE^7CUW
MO;7(8/4:+0&[W/=]%W[RT$E*22224__0X7J=E_UA^MU^U\V]2SC54YQW;0^S
MT,=O]2JOTV+TOZPBGIG6,7I[6.;TW#Q:J*:PYPVM&YWJM`V>H[VU,M]UF]>6
M])R!TCZQ8>3E`[<#,K??&IBJP>K'^:O:OKAT@=4QJ\_%BX&L>G97N>-??3=-
M-NWT;&OV/L;CW>S]+_-J;EI1&0<6Q!##S`D<9X=Q1KR<'J%]^1CUY.+:?28U
M[[)LLD`:QZ>U_O;M=]%5.BY5MO4:;J[MKZ;:K#N)&X.>&/9[Q[G/:Y;5)Z<*
MZZ&;RVIC:VM;ZFFGT(#T;ZM=%H&0QM)>XT%C\FTL>QKG,.ZMGNL]O_%_I/\`
MA/IJV<D1"5@_7M_6:OMF4XD$>.^_]7TN3_C;SLK,S>D?57$LV.S[&OM:3`<7
MO&-A[X_P?J^L_P#[;_T:[SHO1>G]#Z=5T[I]?IT5#4Z;GNCWW7.TWVV?G+SW
M_&[@YN%U3I7UIQ&[OLA;6]Y$M8^JS[5B&QO[ECWVK69_CA^JQZ:,EXO;F;?=
M@AA+@[O%_MQ_2W?X3?OV?X'_``:SG0>8_P`93Z.A?7[I_5<-HKN-=65>UGYS
MVV6U[S^;^FJK]-ZYCZO4?8,KH/6G.<!9U0U/&D!E!PGDM_K_`&NYG]A:F<SJ
M77\3K/UZZK5Z>-Z?V?IM9=H7V/9AAE&YOZ6K#H?>Y]OZ/U,SZ'\W?LL=8Z:W
M'_Q5=!S/3B[[:^QQC\VXY!:X_P!9F/C)*=S_`!F9CNM=<K^KM3G_`&/I./;U
M+J;F:D%E3KF-]P]K_1VUTO\`H>KGH'U`/[._Q<?6'J@/IW/]=E;QS+*6MQ__
M``>]ZH48]]?U"Z_];,]P'4?K!:*J7?\`!.O;]H;7RYC+G>O^B_T.-2KV81TW
M_$ICTO&VWJ#F@$1KZF0[+:3_`.@U*2F'U9+^F?XH>M9CA_3'VL:?%MHIZ=W_
M`)9M5;Z@?7_"Z#@4=$&#9=;D9#GVWBQK6R\M9NV;-WZ.FMBL_6+?TS_%!T?#
M!@YKZG.'BVWUNI?]5Z2/]7/K5]1W],Z=T$85@ZED4UX3LIF/5N%U[?LUMK+]
M[;?YRY_O^FDI?_%=TO\`;_5>H?6_J\9&0+]N.':M;:0+;+`UT_T>I]%6)[OT
M/]BI>D=6Z1T[K.$_`ZE0,C&L(+F$ENK3N:YKZRVQCOZCEY+]1OK4/J/G]0Z!
M]8*K*JO5DO8W=Z=K1L<\UPU]F/DTBI]=U?\`P?Z/]-ZC-SJ7^-;,SNIX_2_J
M=A#-NN=MWY+'0\G_`$53+*7UU5M]]M][F;/^+_2)*>4Z[D=*^JG^,(.P<,OP
M>D%GIXOK/U>ZKUMPNO\`M+J]M]^[9_P:;ZY_XP;OK?B8O3Z\$X8JN]2/6]7>
MX@TU?X*G;M]1ZW_\7M-O4_K_`-=SL\59+JF6UV/:T^EZCK65M=0VWU'-J].B
MWT][M_IJ?UTHKRO\9G0.F8[&-JI]!]C&M#1K<^^[Z(_T%+4E/I^+CUXN-5C5
M_P`W0QM;/ZK`&-_(BI))*4DDDDI__]'GO\9WU7R.C=?NZA6QQZ?U.PW5V\AM
MS_TF1CO/YCO4WVT_\#_Q5JJ_5O\`QB=?^K^/]BK->9@:@8N2"X,!^FVFQA:]
MF[_1_I*?^"7N'7?V-^RLC]N>E^S=GZQZ\;(GV?\`7-_\SZ?Z7U?YK](O!OK)
M_P`RO6L_YN_;HW:>ML]&/^`W_K>S_C_TB2G1R?K_`(65M];ZO84-!#6,=;6P
M`\_HJ7,K]W]5:6)_CAS<*AN/A](P\>AGT:JMS&B?Y#(:N`_1?ROP2_1?ROP3
MY>Y0XN+AZ<5\*R/!9X>&^O"^@Y'^.7J.32^C)Z3AW4V#;959N<QP_=>Q\M<N
M>J^L?U>JN;>SZLXAL:[=#[\A[)\Z++74N;_(<U<_^B_E?@E^B_E?@F+WMNH_
MXT'=4P6=/SNB8=V'66NKHW6-:TL&VO:*G,V[&_FJ&5_C+;E]*JZ/D=#Q+.GT
M!@JQ]]H#?3$5^YK]_M_K+C/T7\K\$OT7\K\$E/H?5?K9U.SI=?3.H_5["?T[
M#(;72+R6M--+;AL-%^ZST<7(KW_\;Z;_`-,EU#ZS]5R\''Z+U#ZN8;L3$=6R
MC&?D%@K+*O:7.]=CFLQ<2S=EVV.]/"99^N^BN8;_`,Y/LUD^KZ$Y?J>IZ4<5
M_M.?5_ZQ_P!<]/T?TJ-9_P`[/M+O5]3UOM`W^IZ'\[Z0]3U=_M]#[+L^W^I^
MJ_\`<Y)3T.?]8>L=2P\7$S?JI1=BXGLQ*=UH#=HMIV,8RQKG[&X=K?['_"U*
MEC=2=B9/VK&^J.(R_`>+?4;;8[TW,=7ML_GG,]EEU*RJ?^>N[%]']H;OTOV2
M)F?^U7I_G?\`'H3/^='I4>E]J]/[,[T_3V_T>+/4]7T_^"]3U/M'Z3[/Z'^!
M^SI*>AZY]9<GKCA;UCZLX>1;CUNL>X7NKNKJ8]M1^T.Q[F7U5-LO8YC,C\R[
MUZOT3_45CI'UDZKT!]F-TKZL86-:7^B2R[U++'&S[.:J\AUUMN7Z=[=MC:K+
M68_^$]-<L[_G3]E.W[3Z7H-]7;M_F=S]GV[T_?MW_P#<S_NM_P!U4)G_`#I^
MSW;?6]/>/4C;OW>I;N]/_#?TGU?M/I?G^G]I_P`"DIZOI/UNZET%^WIGU;Q<
M.SJ+_3+1<\N<ZKW'U!9:YU+:?6=ZEEGIUL_2>I_-(C?K1U:[K(ZXSZMXEO4P
MU[AE,R"XAE;#0;(;<:O3LIWMQK-NS,_[2>LN4M_YW^OB^OZWK_:;O1]3;N^T
M2W[;]IW_`,G^>^V_H_L__`)/_P"=WH-CUO1BW^:VQMW?IO5]'_`[OH>K^B]'
M^9_5]Z2GT/IO^,CZR7]=P>DYW2Z,7[8&VEQ>XD4%KKGW-@N;N]&NSVO_`#_Y
MQ5.G?XWNIY6+U')LZ?2P8&*+V[7/.Y[K\?$K8[^1^L[UQO1/VG^W[?MF_P"W
M?9.H[-VWU/5^R97\[/O_`*F__K?Z-1Z3Z7_-;ZP>CNC]1]7=&[TO6?ZFW_KW
MV5)3Z+T__&9E9!Z3ZV+4P9^-F9F1M+CLKQ?M7I-KG\ZS[#9OW+:^K7UIS^K7
MT,S*:<=C^GT9EKFN=+;<JVVO%I&_V[;<>MEG[_J6KSNG[/&/L_\`G2R/0G]^
M<O[5O_\`9ST_^M*]A^EZ63O^AZ/1/1]?^:]+[#9M]39[OI_:/5_D;_4_5_62
M4__9_^T4?%!H;W1O<VAO<"`S+C``.$))300$```````''`(```(``@`X0DE-
M!"4``````!!&#/*))KA6VK"<`:&PIY!W.$))30/M```````0`$@````!``$`
M2`````$``3A"24T$)@``````#@`````````````_@```.$))300-```````$
M````'CA"24T$&0``````!````!XX0DE-`_,```````D```````````$`.$))
M300*```````!```X0DE-)Q````````H``0`````````".$))30/U``````!(
M`"]F9@`!`&QF9@`&```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H`
M```&```````!`#4````!`"T````&```````!.$))30/X``````!P``#_____
M________________________`^@`````____________________________
M_P/H`````/____________________________\#Z`````#_____________
M________________`^@``#A"24T$"```````$`````$```)````"0``````X
M0DE-!!X```````0`````.$))300:``````-'````!@``````````````1```
M`/H````)`&0`-@`Y`#8`-@`Y`#``,``Q`````0``````````````````````
M```!``````````````#Z````1``````````````````````!````````````
M`````````````!`````!````````;G5L;`````(````&8F]U;F1S3V)J8P``
M``$```````!28W0Q````!`````!4;W`@;&]N9P``````````3&5F=&QO;F<`
M`````````$)T;VUL;VYG````1`````!29VAT;&]N9P```/H````&<VQI8V5S
M5FQ,<P````%/8FIC`````0``````!7-L:6-E````$@````=S;&EC94E$;&]N
M9P`````````'9W)O=7!)1&QO;F<`````````!F]R:6=I;F5N=6T````,15-L
M:6-E3W)I9VEN````#6%U=&]'96YE<F%T960`````5'EP965N=6T````*15-L
M:6-E5'EP90````!);6<@````!F)O=6YD<T]B:F,````!````````4F-T,0``
M``0`````5&]P(&QO;F<``````````$QE9G1L;VYG``````````!"=&]M;&]N
M9P```$0`````4F=H=&QO;F<```#Z`````W5R;%1%6%0````!````````;G5L
M;%1%6%0````!````````37-G951%6%0````!```````&86QT5&%G5$585```
M``$```````YC96QL5&5X=$ES2%1-3&)O;VP!````"&-E;&Q497AT5$585```
M``$```````EH;W)Z06QI9VYE;G5M````#T53;&EC94AO<GI!;&EG;@````=D
M969A=6QT````"79E<G1!;&EG;F5N=6T````/15-L:6-E5F5R=$%L:6=N````
M!V1E9F%U;'0````+8F=#;VQO<E1Y<&5E;G5M````$453;&EC94)'0V]L;W)4
M>7!E`````$YO;F4````)=&]P3W5T<V5T;&]N9P`````````*;&5F=$]U='-E
M=&QO;F<`````````#&)O='1O;4]U='-E=&QO;F<`````````"W)I9VAT3W5T
M<V5T;&]N9P``````.$))300H```````,`````3_P````````.$))3001````
M```!`0`X0DE-!!0```````0````!.$))300,``````ZE`````0```*`````L
M```!X```4H````Z)`!@``?_8_^``$$I&248``0(!`$@`2```_^T`#$%D;V)E
M7T--``+_[@`.061O8F4`9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,
M#Q48$Q,5$Q,8$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M`0T+"PT.#1`.#A`4#@X.%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`S_P``1"``L`*`#`2(``A$!`Q$!_]T`!``*
M_\0!/P```04!`0$!`0$``````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0``
M```````!``(#!`4&!P@)"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!
M46$3(G&!,@84D:&Q0B,D%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%
MPJ-T-A?25>)E\K.$P]-UX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V
M-T=79W>'EZ>WQ]?G]Q$``@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3
M!3*!D12AL4(CP5+1\#,D8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%
M539T9>+RLX3#TW7C\T:4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G
M=X>7I[?'_]H`#`,!``(1`Q$`/P#U-[VL:7O(:UH)<XF``.22O+/KA_C=L;;9
M@_5C;M;[7]1>`Z7`^[[)2_V;/^'N_G/\'3_-W(O^-[ZW6T@?5K`LVNM:+.HO
M;$[':U8D_29ZG\[?_P`%Z/\`@[;5ROU3^K."_#'7>N-WX;G.KP,+=L.38S^<
MLL?]-F#0[V7/J_PG_;5QC$R(`%DHE(1!)-`=7'-GUI^L3G&<[JQ:9<&^K>&_
MV6;V,Y4<3JWUC^K^2&8^1D]/NJ,FAQ<P3_PN+;^C?_4LJ7J=OUAZGBXS;<6V
MK`Q6;6X^%0*C2`1[6>[&]5C?ZKO^VT^9]B_Q@=+OZ9E54X_6<=INP,@.):#I
MH'_SS:W_`,WE5;+:]GIY#/TNSTI)<O.,>(T1UKHQQSPE+AU!.U]71_Q?_7EG
MUHQ7T9093U7%`==6S1MC#[?M%3'>[Z7LN;_@W[/]*NO7D_0?J!]8/JAU2GZP
M9F?@UX6%)S3ZEVM#ALO:&^@WU'[7?H:_]/Z2)G?XVNNY^795]5^D^O14)<^V
MNRZPM_TKJL5S&X[?Z[K5$ROJB2X3ZC?XRF_6++_974J&XO42USJG53Z5FSW6
M5M98764VLK]^W?9]"Q9_U=_QI=1ZM]:J>D6X^.S!R+K:V7,#Q9M:+'8_T[',
MW/V5[_8DI]+265]:.NU?5_H67U2P!SJ6136?S[7>RBOD.V^H?TFW_!;UYUC?
MXVOK1D8%V37T[&L?7;74UM;+G"'-NLM<[;:[Z/I5I*?6DEY+TW_&W]9\[*JK
M'3\;T'6-;=:QEQ#&'6Q[G"PM9LKWO]R#3_C@^ME[=]/2\>Q@,%S*[G`'G;+;
M$E/L"2\\R_\`&J>F=`P[L_%#^NYE;K3A,#JJZJR][,>V\V^I9^EI:RUE?^&_
MX*NRIZQ?_'6^N73[ZK>L](KKQ+M6,=5=CN<W_NO=>^QKO^V[$E/KJ2X#JG^,
MJX]6Z%B=#JINQ^M-J<7Y`=O9ZMQQ/3_16-8RRE]5S+?YW](MOZ^?6?(^K'0Q
MU#&KKMO?>RAC;9V>X/L?(8YCOYNI_P"<DIZ1)9_0,W)ZCT3`S\IK&7Y>/7>]
MM<A@]1HM`;O<]WT7?O+024I))))3_]#A>IV7_6'ZW7[7S;U+.-53G'=M#[/0
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M8V'OC_!^KZS_`/MO_1KO.B]%Z?T/IU73NGU^G14-3IN>Z/?=<[3?;9^<O/?\
M;N#FX75.E?6G$;N^R%M;WD2UCZK/M6(;&_N6/?:M9G^.'ZK'IHR7B]N9M]V"
M&$N#N\7^W']+=_A-^_9_@?\`!K.=!YC_`!E/HZ%]?NG]5PVBNXUU95[6?G/;
M9;7O/YOZ:JOTWKF/J]1]@RN@]:<YP%G5#4\:0&4'">2W^O\`:[F?V%J9S.I=
M?Q.L_7KJM7IXWI_9^FUEVA?8]F&&4;F_I:L.A][GV_H_4S/H?S=^RQUCIK<?
M_%5T',].+OMK['&/S;CD%KC_`%F8^,DIW/\`&9F.ZUUROZNU.?\`8^DX]O4N
MIN9J065.N8WW#VO]';72_P"AZN>@?4`_L[_%Q]8>J`^G<_UV5O',LI:W'_\`
M![WJA1CWU_4+K_ULSW`=1^L%HJI=_P`$Z]OVAM?+F,N=Z_Z+_0XU*O9A'3?\
M2F/2\;;>H.:`1&OJ9#LMI/\`Z#4I*8?5DOZ9_BAZUF.'],?:QI\6VBGIW?\`
MEFU5OJ!]?\+H.!1T08-EUN1D.?;>+&M;+RUF[9LW?HZ:V*S]8M_3/\4'1\,&
M#FOJ<X>+;?6ZE_U7I(_U<^M7U'?TSIW01A6#J6137A.RF8]6X77M^S6VLOWM
MM_G+G^_Z:2E_\5W2_P!O]5ZA];^KQD9`OVXX=JUMI`MLL#73_1ZGT58GN_0_
MV*EZ1U;I'3NLX3\#J5`R,:P@N826ZM.YKFOK+;&._J.7DOU&^M0^H^?U#H'U
M@JLJJ]62]C=WIVM&QSS7#7V8^32*GUW5_P#!_H_TWJ,W.I?XULS.ZGC]+^IV
M$,VZYVW?DL=#R?\`15,LI?756WWVWWN9L_XO](DIY3KN1TKZJ?XP@[!PR_!Z
M06>GB^L_5[JO6W"Z_P"TNKVWW[MG_!IOKG_C!N^M^)B]/KP3ABJ[U(];U=[B
M#35_@J=NWU'K?_Q>TV]3^O\`UW.SQ5DNJ9;78]K3Z7J.M96UU#;?4<VKTZ+?
M3WNW^FI_72BO*_QF=`Z9CL8VJGT'V,:T-&MS[[OHC_04M24^GXN/7BXU6-7_
M`#=#&UL_JL`8W\B*DDDI22222G__T>>_QG?5?(Z-U^[J%;''I_4[#=7;R&W/
M_29&.\_F.]3?;3_P/_%6JK]6_P#&)U_ZOX_V*LUYF!J!BY(+@P'Z;:;&%KV;
MO]'^DI_X)>X==_8W[*R/VYZ7[-V?K'KQLB?9_P!<W_S/I_I?5_FOTB\&^LG_
M`#*]:S_F[]NC=IZVST8_X#?^M[/^/_2)*=')^O\`A96WUOJ]A0T$-8QUM;`#
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MAM=(O):TTTMN&PT7[K/1Q<BO?_QOIO\`TR74/K/U7+P<?HO4/JYANQ,1U;*,
M9^06"LLJ]I<[UV.:S%Q+-V7;8[T\)EGZ[Z*YAO\`SD^S63ZOH3E^IZGI1Q7^
MTY]7_K'_`%ST_1_2HUG_`#L^TN]7U/6^T#?ZGH?SOI#U/5W^WT/LNS[?ZGZK
M_P!SDE/0Y_UAZQU+#Q<3-^JE%V+B>S$IW6@-VBVG8QC+&N?L;AVM_L?\+4J6
M-U)V)D_:L;ZHXC+\!XM]1MMCO3<QU>VS^><SV674K*I_YZ[L7T?VAN_2_9(F
M9_[5>G^=_P`>A,_YT>E1Z7VKT_LSO3]/;_1XL]3U?3_X+U/4^T?I/L_H?X'[
M.DIZ'KGUER>N.%O6/JSAY%N/6ZQ[A>ZNZNICVU'[0['N9?54VR]CF,R/S+O7
MJ_1/]16.D?63JO0'V8W2OJQA8UI?Z)++O4LL<;/LYJKR'76VY?IWMVV-JLM9
MC_X3TURSO^=/V4[?M/I>@WU=NW^9W/V?;O3]^W?_`-S/^ZW_`'50F?\`.G[/
M=M];T]X]2-N_=ZEN[T_\-_2?5^T^E^?Z?VG_``*2GJ^D_6[J707[>F?5O%P[
M.HO],M%SRYSJO<?4%EKG4MI]9WJ66>G6S])ZG\TB-^M'5KNLCKC/JWB6]3#7
MN&4S(+B&5L-!LAMQJ].RG>W&LV[,S_M)ZRY2W_G?Z^+Z_K>O]IN]'U-N[[1+
M?MOVG?\`R?Y[[;^C^S_\`D__`)W>@V/6]&+?YK;&W=^F]7T?\#N^AZOZ+T?Y
MG]7WI*?0^F_XR/K)?UW!Z3G=+HQ?M@;:7%[B106NN?<V"YN[T:[/:_\`/_G%
M4Z=_C>ZGE8O4<FSI]+!@8HO;M<\[GNOQ\2MCOY'ZSO7&]$_:?[?M^V;_`+=]
MDZCLW;?4]7[)E?SL^_\`J;_^M_HU'I/I?\UOK!Z.Z/U'U=T;O2]9_J;?^O?9
M4E/HO3_\9F5D'I/K8M3!GXV9F9&TN.RO%^U>DVN?SK/L-F_<MKZM?6G/ZM?0
MS,IIQV/Z?1F6N:YTMMRK;:\6D;_;MMQZV6?O^I:O.Z?L\8^S_P"=+(]"?WYR
M_M6__P!G/3_ZTKV'Z7I9._Z'H]$]'U_YKTOL-FWU-GN^G]H]7^1O]3]7]9)3
M_]D`.$))300A``````!3`````0$````/`$$`9`!O`&(`90`@`%``:`!O`'0`
M;P!S`&@`;P!P````$@!!`&0`;P!B`&4`(`!0`&@`;P!T`&\`<P!H`&\`<``@
M`$,`4P````$`.$))300&```````'``@!`0`!`0#_X1@":'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87`O,2XP+P`\/WAP86-K970@8F5G:6X])^^[OR<@:60])U<U
M33!-<$-E:&E(>G)E4WI.5&-Z:V,Y9"<_/@H\>#IX;7!M971A('AM;&YS.G@]
M)V%D;V)E.FYS.FUE=&$O)R!X.GAM<'1K/2=835`@=&]O;&MI="`S+C`M,C@L
M(&9R86UE=V]R:R`Q+C8G/@H\<F1F.E)$1B!X;6QN<SIR9&8])VAT='`Z+R]W
M=W<N=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN<R,G('AM;&YS.FE8
M/2=H='1P.B\O;G,N861O8F4N8V]M+VE8+S$N,"\G/@H*(#QR9&8Z1&5S8W)I
M<'1I;VX@<F1F.F%B;W5T/2=U=6ED.C0V,&1C-SEE+38X-F0M,3%D8BTX,S4T
M+60T,SDU,C(Q,S`R."<*("!X;6QN<SIE>&EF/2=H='1P.B\O;G,N861O8F4N
M8V]M+V5X:68O,2XP+R<^"B`@/&5X:68Z0V]L;W)3<&%C93XT,CDT.38W,CDU
M/"]E>&EF.D-O;&]R4W!A8V4^"B`@/&5X:68Z4&EX96Q81&EM96YS:6]N/C(U
M,#PO97AI9CI0:7AE;%A$:6UE;G-I;VX^"B`@/&5X:68Z4&EX96Q91&EM96YS
M:6]N/C8X/"]E>&EF.E!I>&5L641I;65N<VEO;CX*(#PO<F1F.D1E<V-R:7!T
M:6]N/@H*(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2=U=6ED.C0V,&1C
M-SEE+38X-F0M,3%D8BTX,S4T+60T,SDU,C(Q,S`R."<*("!X;6QN<SIP9&8]
M)VAT='`Z+R]N<RYA9&]B92YC;VTO<&1F+S$N,R\G/@H@/"]R9&8Z1&5S8W)I
M<'1I;VX^"@H@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70])W5U:60Z-#8P
M9&,W.64M-C@V9"TQ,61B+3@S-30M9#0S.34R,C$S,#(X)PH@('AM;&YS.G!H
M;W1O<VAO<#TG:'1T<#HO+VYS+F%D;V)E+F-O;2]P:&]T;W-H;W`O,2XP+R<^
M"B`@/'!H;W1O<VAO<#I(:7-T;W)Y/CPO<&AO=&]S:&]P.DAI<W1O<GD^"B`\
M+W)D9CI$97-C<FEP=&EO;CX*"B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U
M=#TG=75I9#HT-C!D8S<Y92TV.#9D+3$Q9&(M.#,U-"UD-#,Y-3(R,3,P,C@G
M"B`@>&UL;G,Z=&EF9CTG:'1T<#HO+VYS+F%D;V)E+F-O;2]T:69F+S$N,"\G
M/@H@(#QT:69F.D]R:65N=&%T:6]N/C$\+W1I9F8Z3W)I96YT871I;VX^"B`@
M/'1I9F8Z6%)E<V]L=71I;VX^-S(O,3PO=&EF9CI84F5S;VQU=&EO;CX*("`\
M=&EF9CI94F5S;VQU=&EO;CXW,B\Q/"]T:69F.EE297-O;'5T:6]N/@H@(#QT
M:69F.E)E<V]L=71I;VY5;FET/C(\+W1I9F8Z4F5S;VQU=&EO;E5N:70^"B`\
M+W)D9CI$97-C<FEP=&EO;CX*"B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U
M=#TG=75I9#HT-C!D8S<Y92TV.#9D+3$Q9&(M.#,U-"UD-#,Y-3(R,3,P,C@G
M"B`@>&UL;G,Z>&%P/2=H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O)SX*
M("`\>&%P.D-R96%T941A=&4^,C`P-BTQ,"TS,50P,SHP-CHR-"LP-3HS,#PO
M>&%P.D-R96%T941A=&4^"B`@/'AA<#I-;V1I9GE$871E/C(P,#8M,3`M,S%4
M,#0Z-3(Z,S`K,#4Z,S`\+WAA<#I-;V1I9GE$871E/@H@(#QX87`Z365T861A
M=&%$871E/C(P,#8M,3`M,S%4,#0Z-3(Z,S`K,#4Z,S`\+WAA<#I-971A9&%T
M841A=&4^"B`@/'AA<#I#<F5A=&]R5&]O;#Y!9&]B92!0:&]T;W-H;W`@0U,@
M5VEN9&]W<SPO>&%P.D-R96%T;W)4;V]L/@H@/"]R9&8Z1&5S8W)I<'1I;VX^
M"@H@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70])W5U:60Z-#8P9&,W.64M
M-C@V9"TQ,61B+3@S-30M9#0S.34R,C$S,#(X)PH@('AM;&YS.GAA<$U-/2=H
M='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O;6TO)SX*("`\>&%P34TZ1&]C
M=6UE;G1)1#YA9&]B93ID;V-I9#IP:&]T;W-H;W`Z,S!F-V9B86,M-C@V9"TQ
M,61B+3@S-30M9#0S.34R,C$S,#(X/"]X87!-33I$;V-U;65N=$E$/@H@/"]R
M9&8Z1&5S8W)I<'1I;VX^"@H@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70]
M)W5U:60Z-#8P9&,W.64M-C@V9"TQ,61B+3@S-30M9#0S.34R,C$S,#(X)PH@
M('AM;&YS.F1C/2=H='1P.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R<^
M"B`@/&1C.F9O<FUA=#YI;6%G92]J<&5G/"]D8SIF;W)M870^"B`\+W)D9CI$
M97-C<FEP=&EO;CX*"CPO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H\/WAP86-K
M970@96YD/2=W)S\^_^X`(4%D;V)E`&1``````0,`$`,"`P8`````````````
M``#_VP"$``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$"`@("`@("`@("`@,#`P,#`P,#`P,!`0$!`0$!`0$!`0("`0("`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`__"`!$(`$0`^@,!$0`"$0$#$0'_Q`#J```!!`(#`0$`````````````"`D*
M"P('`00%`P8!`0``!P$!```````````````!`@4&!P@)`P00```%!`(`!`8"
M`@,```````4&!P@)`0(#!``*0!$5%B`2$R87&2$44&`Q*!H1```&`0($`P4"
M"08)#`,```$"`P0%!@<1"``2$Q0A%18Q02(7"6$C47&AT3(DI489(($S)34G
MD4)#-$1F-Q@*,$#!4F)C528V5V<XJ-D:$@`"`@$#`04'`08'```````!`A$#
M!"$2!0`Q02(3!D#P46%Q,A2!4&"1L4(5H<'A4B-#!__:``P#`0$"$0,1````
MG\'Q(G)!U&FA;Y8!$MDY```````````````#$KI2$L2WYO-\.9&!\)XZ\\;?
M\?&,C`Y.3DQ`R,3(Q,C`X,S@Y,P```C)%4T6!60<=;6V>UU2S<UFR`]:=D&5
ML(9P4XC%;$G%DT5RI:G"6BNY$^'=-R">":D0QC>Q(['YAF@?>'A@```J!!2T
M(/Q;V:/JG^2[&A;TPGZCRGY\_.B]3Y3OOLG3P"KF&W"UD(H`B0>K'Q2%&6,I
M7"EKH,%$`(L6B#069PK0```*'$LCY37/4'GHJJS+MT-5+&\3VHDMWGIT8@2T
M2M6E(G0H]A_$=4&Q1?8D(F#%;`+1)?!,>,2H$-O#3Y=['9```"A9+"N0[1L?
MKHDR\+8Z_P!WHK"R[X?$UGSK3B31L02'F:_)(A7MD^\V"1:27H,-#K1&I)G9
M%E$7%N\5+1;E````%/0-M%D-+#\AF;"J:[PIK\F`,V[6I5089(MQ)7/+'5R/
M..4"FAC@</&`1\T2(-;$NX9])+1'0)29L8^AR?0W<;S&0"I9-)&(`````+4'
M#CW3\8*:-$'3/TQH440:0/0-O")C>)Z!W3>))H'MQW@9S*OP;C.0````.T?N
M0/SQU3OGGGKFOSU3`^I\#SA]8[Q\QR`5$*0/_]H`"`$"``$%`/\`!4_GEN/)
M?=DPY\/+;Z7>,_BG"`0]LZ[H47M`FUR!/N7251,<1<R_QXN[^;0(F;!4(V#T
MZG,(;@UMC>`=$RZPN%W@@MXJZM:6D*SW44#B`!0*,%3=MS;)QO#K;S+FP[!A
M\5D\ZV(X9]"S7%0>T5&R[@%"Z)FO?VBT&V_-XRMV:VH&K5NIG$%P*=NN-#6^
M8!'_`%K_V@`(`0,``04`_P`%YTIR[+CMI3+BNNI6E?&J&H880=*\2%CM43&;
MM`Q)@J^N:*TKYT\56GG0P#%YZ4#9"\H!I91D4S8@<0%0(2"]RHB&^*_YX?\`
M#<`&0E&75J"*?LEG6#4RW:;&<N69,8#XM8"GFR8RR9Q(!+P^:P8R!Y8$<!BW
MZ4I2GBZ_-7@RCN+;V,*.F'"(!P=@"]?_`%K_V@`(`0$``04`YDR8_EE8[5C6
MV5"SK)Z97'>B`X:3.9Q9LTI<AK01V#KLUD)_QGMK2OB;KJ4YV3.PT9E,.`*"
M#)D%F(=1EU*X%+1Z<<7P\2IB>N4Y6+HO!HB)@HEU]I+MN2^/RF6VM:W4ISZU
ME.4RV5MLR6WTNNI;3ZEO+<EMU/GMY9FQWT^>WE,MM>4OI7EV:VVM<]E+K<EM
MW*Y+;:VWTNK\79]E/%F!,LP:VUN;$;$?"5PG(.<U.4-U&3;5<4;NIT?K\`!]
M2:;72#3G9W$+:PWCJ6)>\;L<RRON4-(Y:Y=&3*/"C-.G<K#9E3G?EA%%'BS7
M4R.9CIGED0NCCCH9G,3+,J;JAN>"7D6&BG-A,6:S2[";N5$#<[DG1F`IB>AV
M'*1:L94R169R08RQ^]B22AAI^[$<WI[O:9US5&<<M44_;>DH=4S4W0*'1>50
MBI^+LBO`WW>2Q]5>/@'>;(8X):]5U+U]LSYD[3837,,,&5.EU'4U,B4J&&J.
MD,B+@UTGMF,C2BE:5%ZCDNT::(R7M%B`=R8F6.'*"3'`W)GU7E,RJ%"_V:76
M'&1R4KJZ)/KJQ,[W;E5PVFJ$8""FA==CJ\A1,%Y>WWR3ME:6S*%V.-0IR)`T
M81!(6[)Q,%UQ6[2FJ9->S$2C67Z,-[T=+9([NU@[1.'8R8L.2/$@;*_B6<\9
M%.6/IGI(&%6-QV.B%(:XUJJSC)Q3=X68$UP)EQU&PG?=$<#.A\-'3L*Q:')7
M;:4K:[I?B<UAL>B&',Y:T>+7-=0X%>OC)4#,*A`B_;\/X&#=*=(*&!X?;O4[
M94>7:4R[499UIV9Q@/KD+#7!Q>OCC=8%TM@(H:L>_*VV\G@,9I=U.K7J@3/4
MRH@U<WUD0UM?!JX_B4,G"2=*!TN75%LQMKEB;6*;M4&6`II8BJ\'Y&UT)+5"
MH5US4-:TH!5L1%O"Q./@_DR3[M=0Z')+YSNP,H,M&Y(A'N8(MHDX/&NX#!U?
MTY%U>.P7.F@Q2B[ZV_2G22\NLV>MLYWM]CGN3JK82(S.NA-JPF*-M,A3_&P=
MCEB<!$TN>(Q=%L[=,39"35!)<YZY7GTQ&EP1=+/H<3#IE$IP&%7<=?/G\?8E
M9F-LQE6:`[Y=F*N`8AVO8ZG3%!9S5$`8["#K,OH9T;E(AD0TDWS4Q(W62\I9
MUYY8,>O!^TJXWQ6-CZW49YCFT3R*6893F)O7AR9,QB.2.J$QC+U9N1J*"8@C
MQ*N2A[BV9>T!@41;:Y"9N[(IIC`W]%$1WE",GT0$/!ND_C?Z_3T5-1N#B-NX
MSM043K[L':[$@RB(2+]XSA958L%I06'-IL/T4CJ_W0Q*^>[*%'.&IJ3)/HZU
M%!R1)W'>I8;EDVCSP),570MU/*N?6LY.;#N2Y9VSN(;BN34%=I7E?.M?*O/*
MO/*O/*O/*O/*O/*O/+SXU%-V]G!.G213EU)>"47J)E/FO&.F(NE1ZA5;2`JJ
M:HHT<`194XLD'3E.P.)-+S,Z<.9BUVU']V(U#;E-<W'$DR'M<3R-1(367PZ+
M%K-H(^YGJ#-O*3\M6U.HFV1X_P`<0T1_9+4RB&40A7[L0[%7&)FCTP_[MV/<
MR_1^68K].WX2?/\`IU]T4]E>7V3S[)Y]D\^R>?9//LGGV3S[)Y@]J_0R>YO[
M&O[E]8U_I>W<7IW,'EZ9F]*^F.?W_GO]>\Q3WW\NY[V]LU]^>FB7O/U?9]=_
MKRQ?C'\>`'XX_P#/JGGX]_\`/AJ_C+\PM-]G?A;_`+><_]H`"`$"`@8_`/V%
M`[?ATRI66(^'B_E/2^=CV(3W%2#_``[_`-)Z,`P#'ZCN^?Z:?/VPDF`.KK4!
M'%8[#>8LFQM&%2%*[`&*P6,'8&!AI`ZNKX7TUF4,QW%*\GGR`P^V?(XN7@P`
M:[57OC9H:*?5.%;D*T.:[;>4M&A,`C)H-J:]L"L_$=?WW@,6]>(<>.HK<RX\
MS_V/6G_&3`U7<I(&HDC0@_3_`%]K,@1\Q(_AW]>F<S!J88HQJ[[B?[D=UMZS
M8[KQUKV-H4"[\>$4`*RB0RM9Z:QWL8@%EH]7[B6,;AO\M),R2\+/:L:=*M>1
MD+M`A1;R9"R!H-N2H&G])!`GLGJ_B^5HKNHM8!:[*<Q@-TJ&(:PLVR=T+J(G
M02>N3XAVEL;(LK[Q]CD:!M0--`>P:>UDA9^7O'\QU35FY#48[T4;J7%Z5E&J
M5JPBYGC(4&-](-!TV6.0P6G'XFM3:B!V<8C9%;,=1MLQ^7Q!6R=I#U`DC6#I
MUDGEL4V9!$AVK..H!T@UY&9R,D_[P:@?MF1)XQJ^$J9U:X%[::LLA1_3L?,P
MBI/<PL;0%=ID=<W=16JTG*MV@5BD`;R(%8>P(--%#N/@Q&OM;Q,P>R)_2=)^
MNG2X=U6,G)XI8+./FW7VU-JS;JLRG'05_:-R=A!@QURO(+Q2*EA5D-O"46^8
M"H!/F/G!W(&I)0-]1XNARO&\-B-8M=B2.#KI*E@!]].<MFH,'4#X!B=+L[D*
MN+NR[!LK3(X+#+.Q!F+K;[;AM$G>%8`P#K`Z)8^(DD_4F=-!I\--![9-+!7C
M0G6#([5[P=9U$?.>J&Y?TCQ3XZ(JG\?$QJ['"B!N>ZF]%).K%*P6,R=>F'$?
M^7\<^9W-E48-@`@0)JPZG`!U`#+VGXD&WD^1:OSF`"K76E-5:"8KKJK"UH@G
M3:H/QDDG]V__V@`(`0,"!C\`_86K`>_;]!W]`NX`)@3I)^4Q/5BBQ25&NH,?
M*!K/U'6AT]MQ'RV+9V3O6M%:K<`H\5FRRVO>%D"`=28,`'K!YCE+K>3H);RF
M:GA\8)#$!9LY'S)&GBA=T0>_K\OBN1;B.2QTV.R'BFM/:9WGD=NT@P%(=="9
M)T%/I[E,H/S:@A+6;%47[8)BO'R,@HVW<=?"=IU!(F=I`^>A]S[609CZQ_B.
MSKU!QN3R6&N"M_DT>8>,?<*CV+Y^]U8:F05+`ZR1'67DX7-WQ3580OY/`5U,
MT=K*E%9@G7[@>[4]7K:_&%K?O+97"[F&OA)\AC$G77=(&NFN+R?"C'_/JUG'
MS^-W'LF16J.R:^)98'0$$'KC\]EVM=2CD2&@LH)$C0P3W:>UQW=-BMR*4W([
MVK=7?QN&P9K'!.W&I9MZ@"7M(LU^&@SU]1>HK+"]VU&OY*I]Z;8,-^%8=K:R
M(@F9ZXW+]-YR^>MY5ZL?)1]X91M8E,.EC!$1J!,CMZRLS-Y?,P<-0%V/G7XP
M-FX=ME>+:&@`C;H3/;&AX=+<AK;/QJ_&S;RTJ#)?97NTTW%%)[2)D^V<CR:W
M9EV!EU@&HWT)57>L;"J'#OL)8`DG?&D$ZCKB^+Q\%;L7&JVM<G(9U:[RS-8-
MM?%M5N4GQ*'.TS'6-QW+9)K07+:NWDLJ2R@A8:SCT.A,Q&V1K.HZ3CN%HLJQ
MZH>T5\CF5BM#V.J'&06EC$*2$8$G=IT`#H/?W/?[8`&/EG[@"03I&A!T(G3_
M`"Z.3QWJ;DUNL>7:[,R;#6`V]/Q]MB!""`OC#C9X?GU0]/\`Z3RE?&,;'R%6
MUVLNL<*%8&QG2N-NI"&1IM';U7BXS.U2J)9V+V,T:LSDRQ/Q,_+:-/W;_]H`
M"`$!`08_`.#E$Y0$"")OB`.4N@B)C".H%``#VCX!Q8<);1X6(W>[AH1PYBK!
M/M9L[/;SCF52,)%V,W;H9162R-.L50`BL;`G3:)B)B+2B*Z1FXNU+_NZR30:
MTZ<`X0Q_@25=X1I[),&QVO9"6B+1UEE62J1Q!0LA)OBG$=3AKX\*V"R6:PV*
M=44!=6;L$W)S,LLL8X+=4TD_<NGJJPFT-S<XF$/$?;Q$S6`]WV<J>TB!3(C3
M96]35UQNNU!=%PJUD,;W-S.TM9-V=H5,YBL4G!4@$$SEYAUK.UC>'"5G"F[.
M7(@RH%M@C+,,1YXD4FP@I#Q:$F[7<47)CP$S*(Q:BSAA*&`Q62Q%A39&'00'
MQ$/`?>'@8/Q@(?\`.0#V\P\H>SWAKKH(AJ`<9#^GIL8O2\#B.M.9"D[D,Y5&
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M-R1JHHCUHV:A9%[$340_8RL1*Q3E5E)QDI&N47L?(QKY`Z+AH]9NT2JHJ$,!
MB*$*8H@(`/%0OU^D6[S<#AJ3+A?/8I=0%YFT5^+9.:]D!5$[=`I`R#5'+9ZL
M*0G0"1*[(00Z8D(!?'4=?`=-?A`!'W^.FH>SCQ`?QB&@!_..@<?@\0#41*77
M7V"',8-0\..?70/M\!^SP^WW<>&H"``(E,&ARZZZ<Q?:&NG`F'V!X_;_`-'X
M>/8;W^[\`:_A_FU]FO&NA@#[0T_%X>WCV_D'\W&I1U#\0_X-/:`\>_W>X?>.
MGY.!\#@!?:(E$`\-=?$=/8`>/N#@=-1T'0=/P^W37V>S@0,!@TT'40T`0'3X
M@'7V!KX^\-!X`N@B)@U`?ATT]PZB8/:/A^/CX1U\1#73VB41`=/?IJ'M]@\"
M4==0`!_1$`T'W@80`H@'O\?#C0`$/QA^/\W\_N_EML.X>LBU?W,;MU)NCT^5
M8"!I2B8KCVR*>4+^S62<)K1TRX9R2$-#J@`J%=OU'"6AF8\(-F;9R\>/%T&S
M9JW26=O'3UTH":+=!-(IEG;QTX.!2%(`F44'PXH.Z+<?1(K)/U.\^U-S,8RH
MTN\Q:\)LZI<O&NP96)6L9$R/C9!];W!U2H2[Q!^D[.Z!2):+-TTWRR\-8=RF
M8*-E!M#`K&DCLI8N^E:UGD&:8"HH$/$VK>,$9`%5=K*?>N81VHHF(@502Z&*
M]?;9;)&8>F(9NY@36?&.-MC=9?/`>ZG=F2F<+961I%ACUVRA2%$!?=,Y3"57
M4="7;9AO(;UVZ3=TI$Y1U+1/O,30C7.U;L$0ZCIFJ/J36K[:S*9&9PQEW!U8
M]HFR=(HBL5-!=(Q3OG,;]16[1L8N^?KQD:OMHA'RT;&*NUCQ\>Y?&S@@9^X8
MLS$247Z:/6.43]-/FY"[A-S68=Y]GW#P&X:OUFD47;FTQ)#XZN62<M45])S%
M<=U9^&4+BDHTB8JP/$)-XY:IM8QF[ZJBQU11;+NH?'.4;;MXHD\]=QU-P/M<
M))QTPHR=G`C5A+W2+:KY%O\`/JM42BLH"K=F=;J';,FI#"D`*QNZ[<U5K1$O
M$)"9QKGR4M%QB)0!!0H-K+C[+:,DFLT7(J</Z%%0NO,D<IP`0N5XL,#&8XW#
M8#8-4]P.,XAVJZ@^V<QKY]$Y$HHOU%9,U*MY(IT";9RHJXC':"K5158H).%\
MER53W^;DX*JR%\NKRKP;*Z@@VAZ\YL,FK"1;4J3$H(-XZ..DB0I.4"E)H&FG
M&S#/%SEU+!<\D[><;S-QG5U07=S5L;02$39):06`B8*2;^9CUU7(Z!]^8_@'
MLXRYE:J3R4'G+(@)8:V]]-1H>4:Y,N;=VEZN:,G)_O4\?5UJ\F14Y%4BN&S=
M,X"*Q2FP#1+/]0#<I+4^1R779&]1[S(!2-'6/ZHHI<;T1ZNHP,'8A4(!X+DP
M\P=(#@.NH:S,NT^H#N/BVTI+R4BVC(^Y]&-C6SYZNZ0CX](\>($9LDU032*7
MP*F4H>&FG%6J[+ZAFYYR\L]E@:\R;-;MS.7#B:EVD6@DW*6/#G645<@!0`?$
MP@'X>-P%<QWOUW'U^D5'+%VIM9C&%X!1H2)I,RYJJ3U("M%DTRRQH<SLPE$$
M^=8VFGCP<P_42W,AH0QBZ780`3`74`$WEY-`$?#P'C:=@-C,*;JOJ36[:WAN
MYY#ELBR#IW!8VE+Y08BT$NN:5V)F,M.7"9+*@NQKZ*K-RNV$CIVX00.B#JP6
MI;.F\7+*<(Y7E9:O[>VF1(6B4E)5(#\H5/"<?'0E=9(((:Z+IE'P$YC"/,88
M$EES%=-S&%HM^E'7;!6?+%)6PR\6D\.5\E4KK-B^NM!M;(IE#(+%75:`L0.[
M:+I%`G'TT\R?3>W+7C%</NE3RME";EJ+*%@+HG"4Z/J=:+1K<BD5X@W?UNY3
MTFSD6HF.!)&/U(8Y`(<<&YPW29;N&:,EY?L^5+>TN-YESS4\6HL[U+TZ`ASN
M3@7I-&7I58Z:0%*`=;FT\=1V78JVGY^O6"YNX5_+F1<B/L<3ZD+-R\7'/JA6
M*:TERE25(XB5':DL=(#>'60,.GAJ&U;+>Y/)EPRYEO+%?M&0)FZWF:&=GGD1
M.W2?]+-E'@I(BDV:UMJU!-'0>GJ(".HC_+W$.&TJ22Q_M\?,]N&-R-W1'#)O
M'XY%<EQ<M^DY61%24R(^EECF*(ZEY`$""'*!,PY(KY9O#>S6'BLL/F3UNLM#
M3N77\F+7$,(^%1(S9RE#2<>YGA;B?E,>)2*<IDSF*.;U+Q:FL2<M^G,?XU,S
MD?I\S<<TIE`EGD#&0)[-N*1JKB#/(D:NWZ2:\T[%5Z\,0$2")M9YA4,D7*E1
M-?K,X^8-8+)OT0(&.CW"+)=ZL]21J5DF9!DLY<DZBJK./=N!./,1%0^A1D'\
MU)U29?39UGDG)2CCZ<<A*NI-Z)%W4L$HXVX!-(S2QP$QW152+*`<VOZ6@-\A
M8FMTG5+;5Q([2FZAD_8M3Y@&@G3.YAW,U&85BI!.(GB-Q:ND06!-PB(E/J`:
MCC_*8&8,XRYT&O7946\M'R\<Q0F81K,.B)S<8<\7(M6?7,'<H#T%"DYB_"(<
M,,8XG>JR%7L&5%MN.UF$5.\4J=0Q;!3KAK,Y,?(==44BSR,<[L\RY(5%46P)
MI&T*BF0L/CG`U%BWM^=Q+-+)V>+%%Q[K*F59TA4U)!],SXH*.8BN`^*)F$(S
M.G',$@*`$.N*JZF3,67^I0`Y3K]1L5CP+E@T:W"WXTR/'1J\C#'C)U%LI*DJ
M]C>L$F<TP`3MWK)0PBF9=)`Z>?9]1V_BXF[[)]XF,KJQ2=K1RRCM##UEL=7*
M1,"B*LK$Y!J[$R29@`P'$=!`W&5\K1#0JM0PNG0AO+X1/JU<9)GG-;K2!=$S
M%%=U(-5A,!C`(@F;0=0XV\,EB)%=8SMV7\9+%(X!P($A<A3,NR.H4!$R)U(^
M?2T3T]@@(?"(#Q3=B."7HV"H[7@D<=LT4I%4*O*YHF8KU3F*V22B+EXP0CL?
MP$2G&.G0ID.T"+>B?[LNH[;WBK-9]&XHKN6,N+GU!%)D:"H\M!0SQT4><%`+
M+V)N4I-3?$8H@(`&@;"L!1Z8M$8ROYFS%+HMR$19.CS3^JTJ`5532*4#.F!:
M_)`0VG@5P;\/&,<KRD>!G,;MWW![GI,LFBW:G74EG>0;Y&)D7.0AB-WD,R9"
MW4$0$2'+H.@AQC3*67+75JU6L5XYS%E&0L]ZML+5HI*R2%?5K$.HM)V-\Q0>
MOUY:V<X)E445-R&4$``IC<;D=RU2R1A+)MDQ#C21FZK4*A>Z+97\U?)IZUJF
M.XMTQA9&1>)1S^\2[))PJ"1P(B"AO$2\HY&O^Y:UVR=Q56)Q7-V[G(G>K!9K
MQ.W69?.H/'$7-*&.I$25_EVSHAUD/B80K%?H`F<J/+6<0X+QO3\48RIT>C&5
MNDT>#90$#&MDB%(90&K))/NY!X<O5=/'`JNW:YC*KJ**',<:?FZMWM#:[FR/
M1<1&2;O3\>Q5D:Y?A"I%&#4N,*28K)%KG75@%-O,F55<JQYRMEN<B+;HX[V$
M([D)?<54\.XS/DJ%5E*FUI_R]G<W3#B>LE7913>:L!DVLHG`L)3Q<%**CPQP
M3*8YA-LMP3-[W-I<+9,<[;\4PUKB39JH;%9G=7E3CIJX).VBTT5PV?GLLFZ.
MX(<H'!<Q]?'B*>8:R/1LK8SQ9MPQS0*_<,=V*.L]<?RDO*VR\V!N2;AG#F/<
M/F3ZTE14(4XB3I@4V@AIQM.PL2.;1*V,]NF':E)L&?,+5*?BZ%!I6-9(QM1-
MW<^+E41U'43"/O\`Y>7<E*\IE,A91R#>U#D$Q@,>WVV7GS&$P:DY3"_\/?[>
M,R961,@,WF#<_:XZ05*U3(Z)%8WJ%8B(=LHX\3NTD'DZ]53*;X$Q6/H&IC"-
MK81TU&*6*M9"O3IG.4W+&WZ.LT1-$M4H5TE966'*Y.-JS)F,(G0CIM9.;22.
M8RS=(#!S7*2O.23+P@SCF.!K;=SF`HFRN$.P2+(I-XG(VQW-\W)P)RK%*BI'
M2:116!4AVA!#J*4J4Q?D*(B&K:6?1TM7XO*V/[3(+&?M152F^7$VS_`3L[=)
M-ET#]\A)`V$P"F9/G/ID2?F,J-W,>E%1<>I#/]P$MB1M(*<Z\BD^!Y)[:LOC
M,>6$1$ID.V:]$5A/U3AJF.X.\QZRCRV4'8'E*PL73NR^LCGE6N&)MXU<#;"5
MNG>HB)JJE.1YY3'=<I0/VR6O($[.3;-LXF:-M3RG-TU94PG58S<A/T>JR+Q@
M4WPE=J5>>>H&Y?8DN<-?$=2F'01T`>;0`\1#[/9X#QGK<7?I%&,JF&\4W2]2
M2ZARE.Z<1$*[-#0[3J!TE)&?FCMV+5,1`%'3@A??KQDK);<CCM(%'SRZ2C4@
ME2:FR'8@@TFBI"`!$23<E+G2*34?@`VH::\?7!S<K#O7DI`3VU-&JN"D)VI0
MQ/?FUTMSI+F*)^K%5VW'44$HARI'T]X\?4]R7+N2N;-@#,\;/XJB9(_49S60
M\_XZAZAC&NM6QTUR'0+=J2O(/$P*!3M"+&$0\1#ZPOU=LP$>3TM7,#92V\X@
MLUB=.B.)[..YDS"M9:R`QE%R=22L%?@K\DU(J1<YS*S"_,`GT$N[/-CJ+,Y9
MXOV^5BBQ\P/+TX^<R9=&[WMRA\1CG>PE%=#KX`!2B'$A0F9WKY'$6`<2T-DR
MZAUR^=V@LM>'2<>V*)NF9<;6@0P%`#**E'7W<9#QPT,[*M5-E6#-N<:D[<=K
M(G>VYGCO%SXRBA#$,9RT8RCI=0A?$X(F#\/%[E-G.WN7S9&8N?0,=>WC"X8S
MJ3:O/K,V?.(-L8V0[K3P?N'C6*7.4&P.`(1/53EU+QG.Z;NL+.,&J9SSYMMQ
M34V#NT8VMC^QP5<A\QY$M!`=X]N-Q+&QHSD+"J'374;F76:)F#G`@\NXVPQ0
MME;C-[LI1A<%`;I$>(,8'&="&JL%7!$".56:3:4=+HE,<Y"*.5A+H)S@/&N@
M`/B&NGCX@`#^0.-T5,I(LK'8IS.6-MM&.D$ET&+9].P4-3\80T2H[=G2:H`-
MH`[=9<X@0GB<1T\>!3^0N+1^\Z0G^>^-A3'4W)S@H63*`$U'7F]FGCQB/9I=
MXN%<W9+=S0<&7J)C9>/EJ\:5;Y.BZ[;&#>99"HPD&"14'*?53^[,4H^[A-LV
M3!)!NDDBBD7^C121(5%--,-1Y2%33``#\'\N]X^ETSHR]#NMKIDJ@J0Q%6\C
M5K!(0#U-0W@!E`<L#<X"',!OLXW+;-)&8:HWW&64@S=4X%8Q4GDI0LC1$/7I
M]_'B(<SI*"M%:1*[`/%/S!#7P/Q9[RZM^065"R2I!D24=Y0QC1\8T/)C%,&%
M>9!3U-NN3+S/(V4S'O'KOO#J"LLH1,Z8],.,<4-_E6\M9BM0;J/GF%/W^9DH
MU;8RJ$O(K.SQ]>J.V=O4XIF\%;K])B'*D*@E7^_`XBTI=HSOER#9%F8.SD<&
MW]Y&MY7)(MPJIVR+*_;7;%%)-GY#&3,\0;D<D)S`FJ34VJ%0Q7D;<2T@(A9O
M9[PXH7U!,ND8P,4*A2M7CZML<,4B/L#F5=HHMP0.\3<+(&,(G!),PAEC"=E$
MGD&5\97?&DRJZ3*\*2.NE:DJVZ<K)K")7)TD9$5!`WZ9B^/#>VOJHHEEK:MD
MFR4#(^/9HSJ'C,A4A^1U7['!K/>DX.A$7FJ.B2$5(%(JD03M712J@4"F;7RR
M9AR#C2R$C62\QB:UXENDG>HV6<-T3NHAD>J,)RM6$S-P<R8.6C\Z!^7FYB@(
M@$)M?VV46XXYVHQ]PCGC"LO^H\RMN)NX.DVM5<VR`KJS]G'PS*2<%-"UILH]
M56?'(Z<JG7!NW:[2<?YG@$X/=GOHW"R^=\LQ8.=9C'>,L)XW&(QUAN<317%,
M[YA*9?4EY`@%$J4PHHWYC"T*/&[>!>LI&/=;GZKO4MY5A2%51ZDPI+NA5YU&
M)<HZMQ4Q\4"::B97F$/'B-VT8]?3LM&YCR?CUXUQG&&#M;KE9%.6I6.W*C<.
M0'$E'!=GC9KJ8"I=\J/M$!#;YL5K7E"D[:<LX4I5]DF14T%;7>$B63-66+KJ
M4B#F13=7:MI-DS*@)TV*K=,="D*4-VN:'$:""F4=Q<#2F,F93G5D(C%5%9N`
M0T`-"ILY?(+O3\(J#[``.,DUR.0E)%M?_J+U##:+5%<'KPT'CJ]UK&+PC`VA
MTDD"LJDNNER?"!##J`Z#KBK%+4A$S9>W.4IB(=T9,X1&/*K:+(NGVZ9N9RW[
MX&G/K^@)2C[>4>,Z4C<3%YJ?Y9R_FY&WG6QS1X^R0:=#K]+@X2JM7#YU8H84
M9).76EU#I%(<.FL01$!\.-S.UW8[0<[36?-M-4AMY-7:7;'3"&CY8F,9YM79
MVHPK]E;)%P>X6RFW"52BVO14[M=(4RAS::7J*RA6['>-KF=PKS/*]<K`IGM]
M$LM:5=H5[)E.B))RRCYE_&MI%PREHTZK51XT$HE/U6R29Y&TXGG<OY\R"$:=
M>M8M@<96:BK/I950R#9C9+9>8^,@JTQ(J03.5TROW!$-3(-US<I#&QYMKW(7
M##\?D2R#896IXXA8%##NW'$$6=NG,VB;DYF!EI$E?J<"7F7>/W"CN8DA*FD4
MSAPFD&W!_.V]YEU65W<VW,%AR%:TD"RN06>/7=IOWK"6:QR:3)"2L9(1%V*:
M)4T$E5="@!"AK:+;(+(-V%6KLW8GKATH"31NTA(QW).5W2FH=-NDBU$QS>X`
MU]W&![W(-XR31^<V=-RUB37`!;JJ1,/=[BR>($,)1ZS:SR3-=`H^WD#P'_D-
MQL1Y"I%XXSS8U]Q>)I%%FX1BI2!R:X7D;,T9KF;(-57%?OX2C)<J0GY.0@F'
M[P.*%N7VXVT:AE#'LBJHV75(+ROV:!><B4_1[G%$6;DL%-LS(@H/&ICE-H)5
M4%$ETTE20=7W6RSK9EFE^V2C)]A<VL[-8:FGSA)5-U(U#+E?:./3,2?I]00L
M*<,HR44(FDY=&(*W$[,8G^M/065SGE)#EDLO[]\A72,JO<*I+1[NIDJ>5:7,
MB]B>ET4`DWDBB5N(Z%ZVBP-'.2?^)$H,'3N]4DK#"85WCY(A;#;'QW+=15S(
MV:WYTG4&SMZV1%%=UV2[PY>4>J/*4`BJ%2_J.[77,3'$.HZF+AN>B;Y=;)*K
M<@O)^WW:W6:6LEGG7YBB*KAVX.(!RII@1(A"%,7^(WL^#F*(:_/*C>&H:?\`
MBW#7(DQ]2[:=@S=)`5U.MP.>*;E_'TF%@A6/,I$5_*M.7GH]G>8F)5.8K1P5
MPRE&B)NB1T*!2(E.S>?7O^E:A0>N8I+(UOTHZMXM]>4'`TA639Q!71B``BGZ
MA,4!#3G'V\0N9WWU(]JFY7<_#ID5ALNY*R_C5I!X\D5F1&[][BG'[:6?1M9D
MEE#K`23=N)&6114$B+E$#*<^#KRI]<+:+@N%PI0[+4V=7)::1>R3$M:)]&7D
M+%W:F2*XE'JF9LV[82`BJ<P)`;J!^CQA790P^I_L]O,/BG&LE19.UNLN46,)
M:I"POYN8LLT>#4L4F1BWE9>PNE`:BNL":9@)S&`.,:[MKI];G:'GB.Q)+6.U
M4O&3J7H%38(75ZS>LZG8'\M\R[`FMZ.,_,\13*U+SOD45`,0""4<"4$/K/[/
M<#0V%+=<+FZ.2VTB^N;3)V>%BX-B0!/D&LIQJ40W9K"/PKBKW`@/+R@/%6VG
MQ7U6]GN4G\1<\@7B>R$;)](J8V29NT^J];JJ5\+7-=B$5!H,F.@.3]0&G/\`
M#S"`8[WYW#Z\VTC*<A1LTV?.#JADE*-6E)NS3SNP2K0BMH'*<PN!6$W,IN%#
M"U.+CHB`@0#>&WN"#ZU6SG`T'@R1ODN=N6WT:\N++*W1M`,B..8V1*PC&IQK
M6%,7Q(L*HKC\1=/'7_\`HKVBZ<VG]G8]U^SX?G7KI]OLXW`W8?K2[1L\36;Z
MU1ZHV.>YX_H:=5C*A)3\NYY2A?;,I)*R[Z63$1$R14R-RAH;77BSY[VP_5IV
M?[2,M7J9>6+(-;+DBBW/"]OL,DHHYEK$RJ[2X5V5HTW,/5!5=>7.E(Y14YU`
M9E.8PF9+;@/^(&V#L:4@^.$A%X9L5=D+/*Q@D4U3:35UML7$0+LZXD^)2-DT
MP*`Z`(Z#QDO;QLMW[;+\3V')M'L\%-YPG\Z8[NF4;#;9:NRL-`W&[S3N;CUY
MY&KO9,'+.)0%A&(Z'*@BD954YZWNT??7+V<YN<U:BWBHQ%.4L&-Z@1O)72+3
MB%)PDP;*5C,D=@QZQ2I@WU-U?TP`/',V'JY]4;9I1I[*>+[UCN,N2N9<=V!.
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M"P<H,GMPMKEA)KI0=>;.W*:9W3@2)`=0H:^(<(9Y7WI;:T<*.;\OBQOE57+M
M-)0E\DM81"R.:,C9S2H12MH0K[I-Z9F505BMC@H)>4=>)_`=-S7C:TYLJM0B
M[_9L4P5MB).^0%)G$8AS#VJ8K35RI*1T')M[`Q.@X53(FH5VD)1'G+K[_9K[
M/=^?[/;PRKD._A:5N:Q"XEK%M^R/+I'+&"_E4$RSV-KBNU26=FI5V!HB!E2$
M56C7Z*+I(IRE616MF#-Q6,K1BC*E*?&9S=1M3!=JX43YC%:3$,^#G86.M2J)
M>JRDV"[AF\;G*JBJ<I@-QS#H8QC";0>8"E$#?";X3E$3``!J`^PP>(<"(F'4
M?$=`*`?S`!?#CVC^3\W'M'\GYN/:/Y/S<>T?R?FX]H_D_-Q[1_)^;CVC^3\W
M&FH_X`\?L]G&[B[Y]B<GR887PM&77'!,>7:`IS-_D"QWNO8WK%;M(S5$NBDA
M'2L]<&SH_;"T51:1[C0PB;5/,U6QK0\]W&Y[=]K-3RI=7466R6I"TY%M&2,>
MT)T^;55_@:@+P>-:ZD%R>K+0[ZSQZC>*;*#+E`%"C@Z$=UG/63+S(;4QW/7J
ME8TG)LEKSM,%J^,5E\-8/B)[`#&*A58VRY3(Y=6&$D<B)H0<.[74:)J*D3):
MY6*3SJRLLS;,BA0[U-FI;G&6-YBC[EZEMYK&U;*2E6:3E?M6XC(BMB</$W,;
M8635GTVAV[)^T=+N&U2QY!9VNLB.4;5N*FZ`K+3%%BU$<.UK#%">[8%IUZ1H
MZC4KSE;.V6JXTETE#()1L"_0`2E<*G40MR=<ON4+S3<)QF,E<_9,KS6*6HE2
M5;;-K[N"S9.*V9&#=,JU59++#6"K-'>2)P+*("Z.51P=1/I56](YIF91&;Q-
MD.2L:L@]@8Q.G9IPCM_K,GEZAS46$6>90A&.XW*M2C(^15Z::\.Z=%#F52$Q
M<9X7EHS<%@3%E<;WE+.67,WVW"=+:Y&A*[:ZOC7&V4,)>NY"@1U/89FRQ9SQ
MD7#32CU-PP8BYAY&9<"NS;XH4L;/.M7R_)XSWBY5R;:W-QJ3S&8U7:XXO]1@
M5*S30QV2U07S$R/"-6)SR#U8D>BBMR`N9P04ZWB^=LN8<%*-8_.U+>W/,SNI
MM8?,MMJ,-BZH8:SSC:*3@XR1JF!\B;A\QQ,$J#L95F,*4SYK,G4*[2:Y\R[`
MMLPR-GQ5GE]BMA9IN7@D:"1*M7*#Q5,LF*D=3W59R49WD2/L[=TK'6AC-P*T
M8U_J1_&K*RB>T6*EFF?VK_-\3CF_V3/L$2C/,,7Q.\8\REDN7VUX.K,DU8SD
M_G.M1N/&U?;/$).737MT@X8/X^/Z#(S_`#7;LBV'+6'SM,6TFY4##ENM<:OE
MS%END-L&1]Q>3,>65JIB1A%9@NF,T:Y7DUXEZ..7`1%D!=50CY`6"N.X_$]S
MM=SRQ6&U.@=TL/U)*UU3&]RN.+Z;<XQM.SB6,J+6\=V=]='MF@VE;2DK61PT
MKPO0E.<ZC5#Z+&(C-E64G<ZOO%W0V1J!BE9NQR1G,U/I,FJ0Q2D,\6IM';%Y
MAU$J(%`!TTT^LKEL4E&3O)EDV/[7ZK(MR$!5X$_D:W9(O\,HH<NA6*T)6HQ5
M70VHB4OA[!X^MQF)0"LW-]KNSG:S399(B?66D;WFA6WW>`(/*F8$I.C5A45Q
M`=?@+J'LX^A;M9<."Q3[=YOAW!97?,&IC_KT7,Y/I6"J[/OBD#07+:/E!12U
M(82D_1'\/U[-Y>4TQ;TZJY%PGM.H,;7DF+FR6&TUYA,-%:I7B2\G"5]BF:+Q
M-YB_>R4A'1,6R9K.GSMJT;JK%_M'*G]A<W^SAQ_ZU_\`;K^V/\Y_UN_V8_ZT
M\%ZNFG-\.O\`UO'3E^W\'V\,_P"++\E/3?8R_P`O?5W<?.SJ]HMWWR?]'?WK
M=?GTZGE?ZEW'2[CQY.+#_#]_W\>S\]>]E\ZOE#\O/+>L3MO2G)_>IY;T->GY
MY^NZZ=3@-?5FN@:_V+[?YO#C][/V-Q^]G[&X_>S]C<?O9^QN/WL_8W'[V?L;
MC][/V-Q^]G[%X>=OZT[?1#O^EY7T.7KAVG><GW6G=Z=+G_RNG+\6G#CK?/KO
M/)OUSJ^9=[Z<U<Z]US_K'D&O5_2_5=>?W\W%6[/Y\>?]LY]$]MYGYSVG8CWG
MI'D_K#M?+M>KV/P=#]+X.`[+YK>D?4;7E[/D],^L?+E.SY>A_5/JORCGZ7^F
M=MKR_!KP7H_-#])73I]/FY^O&];_`+?/U^SYM/'GZ&OQ=+BU=O\`-KR?LX7U
MQT>;RSL>\;>G_5O2_4^S\QZ79=[]UU^7H_'IPX[GYE='1WWG<=OT].9#O^]Y
M_#3GZ77ZO_=\_AR<-?/_`)O]QY36O+//.KS>2]J/HGM?,/A\CZ&GE/2^XY->
MV]W!^MYQS=N[[CK=]S=KW)N_Z_7^][/O=>MS?=];]/X]>(SSWUCR^F87R7SC
MSW7T1UB^G/*^\\?2'=:=ATOU+JZ='XM.`[_U9Z*]4O/\\\Y])>N.P3\PY^M_
M4WJ[RO3K\_Z]V_\`2?!IQ4^;UCY/YU)^@]?//+/4?=1_G7HS_0_/?,.T[OL/
MUGN.CU/CY.);S;U7Y]YG-^?^8^=>;><\H^I?.^Z_7?-.G_:'<?>\G]/X<2O6
M\VY.[3\UZW>]/S7E>=IYGUO@\R_INEUOOM.?E_QN/I)^<_-3T%_"@VZ?+[R#
MTEV/FOJS)?S+[GSG[_S/UAR\_+\'2Z>G&6O1?S-]._Q7L>?-KS#TOYWY?_NV
MS7R\[3H?U9Y9YWS];G^+K<O+\.G&YKTKZZ['^)Y@'YK=SY!Y_P"GOD3=/EQV
M>G]6]AZB[GK_`.5ZO)_B\?\`"7\WF_RJ]!X_].>9>5=I\R_]YIS\RO/=/\IZ
MO\HZ73^#D]OCQ]9CSCS[Y]_Q:LJ^=>M/4ORY\F]![@_57S>]#?WL_)?Y1>MN
C^]+_`/G'K]IY+^N='C]U/_K1_P#&7^QC_P#7E_\`DOQ__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>map.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 map.jpg
M_]C_X``02D9)1@`!`@$`2`!(``#_X1;;17AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````<````<@$R``(````4````CH=I``0````!````I````-``"OR````G
M$``*_(```"<0061O8F4@4&AO=&]S:&]P($-3,R!7:6YD;W=S`#(P,#<Z,3`Z
M,3<@,3@Z-3`Z-#(``````Z`!``,````!``$``*`"``0````!```"6*`#``0`
M```!```!IP`````````&`0,``P````$`!@```1H`!0````$```$>`1L`!0``
M``$```$F`2@``P````$``@```@$`!`````$```$N`@(`!`````$``!6E````
M`````$@````!````2`````'_V/_@`!!*1DE&``$"``!(`$@``/_M``Q!9&]B
M95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`<0"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`ZCZI_5KZNY?U:Z;D9/2\.Z^S'K+['T5E
MSC$2YVSW.6M_S0^JO_E/A?\`L/7_`.00_J5_XD^E?^%F?D3_`%FS\W%P,GT<
M6UU;:=XRZK6,V.D_2#[*KMK-C?YK?O\`4]/_`$B2F?\`S0^JO_E/A?\`L/7_
M`.02_P":'U5_\I\+_P!AZ_\`R"T,2^^^LONQWXIW0VNQS'.B![G?9WW5-]W_
M``J.DIR/^:'U5_\`*?"_]AZ__()?\T/JK_Y3X7_L/7_Y!:Z22G(_YH?57_RG
MPO\`V'K_`/()?\T/JK_Y3X7_`+#U_P#D%KI)*<C_`)H?57_RGPO_`&'K_P#(
M)?\`-#ZJ_P#E/A?^P]?_`)!:Z22G(_YH_57_`,I\+_V'K_\`()?\T/JK_P"4
M^%_[#U_^06@8.:-WYM<L^),6'_J$=)3D?\T/JK_Y3X7_`+#U_P#D$O\`FA]5
M?_*?"_\`8>O_`,@M=))3D?\`-#ZJ_P#E/A?^P]?_`)!+_FA]5?\`RGPO_8>O
M_P`@M'()::7R0&V`.'B'@U#_`*=C$9)3D?\`-#ZJ_P#E/A?^P]?_`)!+_FA]
M5?\`RGPO_8>O_P`@C'KW3FV.JL<YCP\UANPN)+9!.VGU'-^@_P#G-C__``--
M5]8.EW/8RJQSG6/%<>F\0YP);OEOT?;]))2+_FA]5?\`RGPO_8>O_P`@LGZV
M_5KZNXGU8ZKD8W2\2FZO%M-=C**PYIVGW,=L]KET.=DY+;*<3#V#)R-SM]@+
MFLJKV^M<6-=7ZONLIJ97ZGT[M_\`-UO5#Z[?^)'J_P#X4M_ZDI*?_]#NOJ5_
MXD^E?^%F?D6Q;35=6:KF"RMWTF.$@QKP5C_4K_Q)]*_\+,_(KW6>K8W1NEY'
M4\IKWT8K=]C:@"\@D,]C7N8W\[]])3=27#=+_P`9N+=G48>=1Z%5XR;CF.>U
MK*Z:K<ME#;:_=[_2Q&5/]_\`/+MJ;:KZF74N%E5K0^M[3(<UPW-<T_RFI*9I
M)))*4DDDDI22222D&1[+*KNS3Z;_`.K9`_\`/K:D=0N%9J>+2!66D/),#;'N
M]RR;.OUTTL?8ZJNG<&?;,A[:Z[8`>?L;&[K<FVUCOT;*V?SGJ?Z+](E.RDLO
M]K9F1IT[IUUK3Q?E?JE7G+;FOZA_\+_3_EI_LG7,C^D9[,5IUV8=3=P_DNR<
MW[4RUO\`4P\=)3?R*S90]C='$>P^#AJQW]EZR>I_67IE.#;]GS*79SJXIQVV
M,=9ZCQ%?Z$.W^QWN>C_\W.E/,Y;'YY[_`&RQ^0V?WFX^0]^-7_UJFM8/UILJ
MPVU=+H:VC&8791:QH8T-,LK9M9M_POKV?1_,I24U^A]5ZO1;1A8QLRL:N-U6
MP6O;4W]Q[[*-F[VU5^I;^BW_`,WZ=>Q=/^U<WG]CYG^=B?\`O<@_5CI9P,#U
M;F[<K*A]H/+6C^9H/_%M=[_^&LM6PDIR>F9U&=U7->-U5]%=-3L:UI;:P'U+
MO5VG_!W.M]/U*GOJL^S?R$+Z[?\`B1ZO_P"%+?\`J2KO2O<W)O.IMR;M?^+=
M]D_]UE2^NW_B1ZO_`.%+?^I*2G__T>Y^IA+?JCTLAI<1BL(:(DF/H^[VK#Z_
MC]4^MSGXW2<UN-B_8WUYO3LF&/%[]WHMR*6BW(ILH>VM[W;/3_F?L_VFNU;O
MU*_\2?2O_"S/R+1S.F=.SPT9N+5D[/H&UC7EL_Z-SQN9_824^7XW^*KZTG=]
MHRL7^8NI;+['ZV^H\;?T7M9ZE[WO7H=V?C_5SHN&,\N?Z3*L;]"TO+K`R/:W
M]W]$[Z2)^P,5D?9LC+QB.-F3:YH\FTY+[Z/_``)"R^@WY>.[&R.HW9-%FCZ,
MFK&LK<`0YNYK,6A_M<W=_.)T.#B''Q<%^K@KCX?ZO%Z5?8?/9N]+ZEB]5P:L
M_$+C1=NV%P+3[7.J=+3_`"V*VL1W1.J>FVIF9CMKK:VNMK<>VL-:P%M;&MQ<
M_&8W9O\`9[%!W1NKBPV#(QGEQEWLR6`F=WT?M]K$)</$>&^&_3Q:RX>G$8\/
MJ5_+1WDES_[)ZN-`S&('87Y58_LM:ZS:J_[2MZ=E.JG%LRP-KL:K)RLJX#Z4
M_8JZ,JYK?^$]+V(*>H5#JW5:^FTM>]LFP[*R?HE_YE6UNZ^VVS_!8^+3?DW?
MX*I4?M7UOS*7#&P\3IY,;+LJU]KB-/=]BIKKV_R?5S&6?Z2A5*\3J^)U!AKI
MQLWJEK"7963=:][*N+'[F8U=&'4]^UC,3$IH^TO_`.(R+TE-AN'UCJ\/RR,+
M&D.8'UL=?H#M-6/;]HQL+Z7_`&J^WY%O^AZ=;6K]/2</I[_M6+5OR(BZZPFZ
M^QG[IRKS9DN]/_!5>IZ7^"]-4</JG4.H7OIP^H]-?96"7LKKLM<`#MD_K-/Y
MRN_9OK"1#L_%;YLQ'@_^"9UK?^BE5)((T(IT6N:]H>TRUPD$=P4ZP<O#ZAC!
M@?U/)B\N:XL;C4TM>X37O?\`9;LFKU;/\)OL69USH?5+NDQTG=D]2%H]2O/M
M.0!60YSOT&9:[!:_U-GZ2NG^:_TB2'I<CK'2<6ST<C,HJN_T3K&AY_JU3ZCO
M\U<EE8[KNL6YE3,BW%%C;ZFOQ<JW>!%KZ*VN9CU-K]?U;6?K+*O?]"W?8A8/
MU8^M^9TW)P,W*'20+J[,6S%%=+BT#)KMKM'2CC>HW;9B6['N_GJUO_5;ZN9_
M0W99R^H69S<DL-;'NM<VO:;7.V-R;LEWN;;77]/_``%:2FU5URZ\%V/TO,M:
M._ZNS_HWY=3]O\K:IGJ?4C&WI&1_:LQA_P!1DV*Q@TU4,?4QH;Z3MFD_1'OI
M:)_-94]JM)*>>Z6_J>0UK?LMV+3;;>]UPNJ>UI?;=;]"MY<[<[;7^C3?6VG(
MJ^J/6_7M%LXUOIP"V&[/S]S[-]F_?[_T?_%K4Z+!Z7CD=VS]Y)5+Z[?^)'J_
M_A2W_J2DI__2ZWZO863D_5#HEV'8*LS$J9;1ODUO)8^JRC(#/?Z5M=K_`'-_
MF;?2R/TOI>E9=R_K/5TO$LR>MXM^`VELOL:WUZ7&=GZ+(Q]VW>\[*OME6%99
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M:X6]-IU!=4/1?!!]U9](_1_>V;U=24I4.G`6Y&;EG7U+?1K=W].@>EL_LY?V
MQW_7%?5'HIW=.KL_TSK+O^W;'W_^C$E-?I/U7Z3TC,R,S#8X6Y.@#C+:V$[W
M48S8'I4N?[]G_I-BUDDD_)EGDEQ9)&<J`XI:GTH``T#%[&6,=78T/8X0YKA(
M(/8@K,?ZO3[6-/NQY:S&M)G;,,^QY#GGU-MSOYC(_2?IOI_X+U=5,0'"")![
M%,2LUVYH=!&X`P1!U\0I(.)BLQ,=N/6YSJV2&;C)#9]M?]6MOL8C)*<_IN19
M:[=<6FUX>VP,$`/IL=6[V[G_`)ME:T%1-3Z<S?M:RESQ!;`)<]KVV[MH;].W
MT5>24T>BQ^R\<#LTC[B6JE]=O_$CU?\`\*6_]25=Z/IA%O9E^0P?!E]U?_?5
M2^NW_B1ZO_X4M_ZDI*?_T^Z^I7_B3Z5_X69^1;:Q/J5_XD^E?^%F?D6VDI22
M222G,`/2;H&O3<BSYX]MA_\`;/(L=_Z"9'_=2[]0)1^K]6R*#]#,:,FK^O6&
M8V4W^2UK?L;_`.6^VY2ZSCC)Z7DTEGJ!U9)J/#PWWFEW\F[;Z;E1J?=D].#Z
M2;\SI=@=429=:W9OK:7N]KK<SIV1Z;[/YMF79ZG^!24WL4V,S\NE\[';+:=`
M!#ALM#8#=SFVLW6?\;4KJIL:W*R,3J..YKZ#2^'&02R[TK:WUB/^"_.5Q)2E
MG='NIKZ3TYC[&M=90P5M)`+B&;WA@/TMK6N>M%8^!@=/ZATNJN^MM[*#?C-,
MF"QEC\=[)8?=6[T*_9_I*JK/YRJM)3K;V21N$@21/`_U"&,O$<[:+JR[8VR`
MX3L>=M5G/\W8X?HW_GKG'="QZ*F7Y/3NG56A\2'&ML>GNW-M_P!+Z^__`*W_
M`-O*=O2\*V@U6X/3A346LQ*"^0`-_KL)AC?YK*R7LV,_1>I_-6)*>ED>*1<T
M"20!Q*Y<](P@#6.F=.=?6P-=2;B=A(]1M?NJ_1^T^KOV?X3_`*XE9TC`9;:Q
MO3^FVCU/3K`L]/:"=K&/KVV?K/[^S9ZO\VDIZ?U*]VW<-P&[;(F#^<F-U(M%
M)>T6N!<VN1N+00US@SZ6UKGL7,W='Z:Q[FG!Z>7.#76^M9M+;H'K>J)M]5NU
MU&S^O5_8*>C,OQ&54=/PS2&D/I#W/JWFRZZ]F]IJ]3TLEWM]2C]'ZV7^_P#I
M$IW<LC[,YXU#"VSY,<VP_P#4HZI5=,P\/#OQ\.H4LNWO<UI,;GSN=[BK53_4
MJ99^^T.^\2DIJ=-]EV=C]J\@N8/Y-K*\@N_[>MN:J7UV_P#$CU?_`,*6_P#4
ME6O5J9UH%CVN&15Z%L&=MM)-]%<#Z+[*+\JS^I2JOUV_\2/5_P#PI;_U)24_
M_]3NOJ5_XD^E?^%F?D6VL3ZE?^)/I7_A9GY%MI*4DDDDI2Q>F-.)U!N.6N:U
M];Z!NXC'LWXFS_C<;+L_]A5M+%SF#&ZQCW3ID75O#1^\&785KG_R=F5B[/Y;
M$E-G%_4NH681THR=V1BGL'$[LS'_`.W'_:Z_^/O]/]%BK15/JF/;?B[\<3E8
M[A?C:Q-C)_1[OS69##9C6_\``W6*QCWUY./5DU&:[F-L82(.UPWMT_JE)219
M'1FNP\K)Z<\`-<YU^/MDC;+:[F\;=_NHR;/Y>8M=9O5,>J@#J58VW4VUVV.D
MP6#]7OW-^C[<2Z[^WZ?[B2F]=13>S9=6VU@(=M>`X2#N:Z'?NJCE](QOL[:L
M/"Q"20'-MJ;LV`ESAM8/\Q:222G&RNE9&2QS[<7`NR7-#19?5O&W0&NQW\X_
M\Y3NZ=F7M%EM&&^^3)>POD2ST_?M:YOT-_\`VW7_`,*M9))33Q\1]E3QU&JB
MRQY<';&RTL<UK"+/5^GN:S8_^0K3&,8T,8T-:.&@0%)))2D#"_H='_%L_($=
M`POZ'2?&MI^\)*<KJ`=C9S[9.W?1E,)F&[7-P<WMM_H=J?Z[?^)'J_\`X4M_
MZDHWUCHLMZ>][!(J9<7G31IHO9N_E?I'5^U`^NI!^J'5R.#B6D?YJ2G_U>R^
MJ^-D9'U/Z0,;*?B6,H8X/8UCP[VN;Z=K+FOW5>[=^C]*W_A4'KF?]:^G78#*
M[,.]EV5767.:_&%A<+=N$W])U-V^WT]S[WUX]=7Z+9Z_J6>@?ZGY^#1]5^EU
M79-5=C<:O<Q[VM<)$ZM<Y:&1E],O<QW[1JKV<`/I<)_?_2ML][4E-1W6^K56
M^A;BX@N#=SF'(N#@-OJ<5]/NK=[6_F7/1*>L=3N);7AT66`2ZMF2[<(T]S,C
M%QW-]RO_`+5Z7_W,H_[=9_Y)+]J]+_[F4?\`;K/_`"22FM^T>K#Z72;3_4NH
M/_5V5*AU3+S;CBO=TO+KMKR*M@%F+#AZE=MK#^M[G?HZ=ZV/VKTO_N91_P!N
ML_\`)*M9D=+MS:\JSJ%+FT`^C3ZE8:U[@YC[S[MS[?2?Z3/W&/M_?24O^U<Z
M?^1LW_/P_P#WO53`ZCGXF'MMZ/F-8U]M@E^&`VMUEEM37;L]NWTZ7L:M/]J]
M+_[F4?\`;K/_`"2B_J72+&.99E8[V.$.:ZQA!![$%R2FL>M98)!Z1F`@21ZF
M%H#W_P"4/)5NI=4R\KIV7C5]*R@^VFVJ?5P]'%KF^Z,_\U6I^K/C@Z:C^:_U
M_.4C;]7#9ZI?A&S4[R:MTGZ7N^DDIBSK&98T/KZ3E.:X2"+,0@CXMSG)QU/J
MIXZ1>/ZUN./^IO>I59'0*+#;3;B56.!#GL=6TF3N.XM/[R/^U>E_]S*/^W6?
M^224UAF===]'IM3?^-R0/_/5%Z<W?6-V@Q,*O^5]IM?I_4^Q4_\`5JQ^U>E_
M]S*/^W6?^22_:O2_^YE'_;K/_))*:_H_6-PG[7A5?R?LUMG_`$_MM'_GM,,#
MK#S-O57-\J**F?\`MQ]K5G]J]+_[F4?]NL_\DE^U>E_]S*/^W6?^224U+>E=
M2V$,ZOFN<[3Z.((G\[3!_-3MZ):&!AZGFD-$#W5-T`C_``>.Q6OVKTO_`+F4
M?]NL_P#))?M7I?\`W,H_[=9_Y))32R.@/LQ[:V]0S'.>QS1NNALN!;[MM:H?
M6?`.']3NL@WW7E^&^?7L-D%K'?0D-^DMS]J]+_[F4?\`;K/_`"2QOKCU#`N^
MJG5JZ<FJRQV)=#&V-),,)T:')*?_UO*DDDDE*22224I))))2DDDDE*22224I
M))))2DDDDE*22224I))))2DDDDE/_]G_[1P.4&AO=&]S:&]P(#,N,``X0DE-
M!"4``````!``````````````````````.$))300O``````!*```!`$@```!(
M``````````````#0`@``0`(`````````````&`,``&0"`````<`#``"P!```
M`0`/)P$`;&QU;@`````````````X0DE-`^T``````!``2`````$``0!(````
M`0`!.$))300F```````.`````````````#^````X0DE-!`T```````0```!X
M.$))3009```````$````'CA"24T#\P``````"0```````````0`X0DE-!`H`
M``````$``#A"24TG$```````"@`!``````````(X0DE-`_4``````$@`+V9F
M``$`;&9F``8```````$`+V9F``$`H9F:``8```````$`,@````$`6@````8`
M``````$`-0````$`+0````8```````$X0DE-`_@``````'```/__________
M__________________\#Z`````#_____________________________`^@`
M````_____________________________P/H`````/__________________
M__________\#Z```.$))300````````"``$X0DE-!`(```````0`````.$))
M300P```````"`0$X0DE-!"T```````8``0````(X0DE-!`@``````!`````!
M```"0````D``````.$))300>```````$`````#A"24T$&@`````#20````8`
M`````````````:<```)8````"@!5`&X`=`!I`'0`;`!E`&0`+0`Q`````0``
M```````````````````````!``````````````)8```!IP``````````````
M```````!`````````````````````````!`````!````````;G5L;`````(`
M```&8F]U;F1S3V)J8P````$```````!28W0Q````!`````!4;W`@;&]N9P``
M````````3&5F=&QO;F<``````````$)T;VUL;VYG```!IP````!29VAT;&]N
M9P```E@````&<VQI8V5S5FQ,<P````%/8FIC`````0``````!7-L:6-E````
M$@````=S;&EC94E$;&]N9P`````````'9W)O=7!)1&QO;F<`````````!F]R
M:6=I;F5N=6T````,15-L:6-E3W)I9VEN````#6%U=&]'96YE<F%T960`````
M5'EP965N=6T````*15-L:6-E5'EP90````!);6<@````!F)O=6YD<T]B:F,`
M```!````````4F-T,0````0`````5&]P(&QO;F<``````````$QE9G1L;VYG
M``````````!"=&]M;&]N9P```:<`````4F=H=&QO;F<```)8`````W5R;%1%
M6%0````!````````;G5L;%1%6%0````!````````37-G951%6%0````!````
M```&86QT5&%G5$585`````$```````YC96QL5&5X=$ES2%1-3&)O;VP!````
M"&-E;&Q497AT5$585`````$```````EH;W)Z06QI9VYE;G5M````#T53;&EC
M94AO<GI!;&EG;@````=D969A=6QT````"79E<G1!;&EG;F5N=6T````/15-L
M:6-E5F5R=$%L:6=N````!V1E9F%U;'0````+8F=#;VQO<E1Y<&5E;G5M````
M$453;&EC94)'0V]L;W)4>7!E`````$YO;F4````)=&]P3W5T<V5T;&]N9P``
M```````*;&5F=$]U='-E=&QO;F<`````````#&)O='1O;4]U='-E=&QO;F<`
M````````"W)I9VAT3W5T<V5T;&]N9P``````.$))300H```````,`````3_P
M````````.$))3004```````$`````CA"24T$#``````5P0````$```"@````
M<0```>```-/@```5I0`8``'_V/_@`!!*1DE&``$"``!(`$@``/_M``Q!9&]B
M95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`<0"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`ZCZI_5KZNY?U:Z;D9/2\.Z^S'K+['T5E
MSC$2YVSW.6M_S0^JO_E/A?\`L/7_`.00_J5_XD^E?^%F?D3_`%FS\W%P,GT<
M6UU;:=XRZK6,V.D_2#[*KMK-C?YK?O\`4]/_`$B2F?\`S0^JO_E/A?\`L/7_
M`.02_P":'U5_\I\+_P!AZ_\`R"T,2^^^LONQWXIW0VNQS'.B![G?9WW5-]W_
M``J.DIR/^:'U5_\`*?"_]AZ__()?\T/JK_Y3X7_L/7_Y!:Z22G(_YH?57_RG
MPO\`V'K_`/()?\T/JK_Y3X7_`+#U_P#D%KI)*<C_`)H?57_RGPO_`&'K_P#(
M)?\`-#ZJ_P#E/A?^P]?_`)!:Z22G(_YH_57_`,I\+_V'K_\`()?\T/JK_P"4
M^%_[#U_^06@8.:-WYM<L^),6'_J$=)3D?\T/JK_Y3X7_`+#U_P#D$O\`FA]5
M?_*?"_\`8>O_`,@M=))3D?\`-#ZJ_P#E/A?^P]?_`)!+_FA]5?\`RGPO_8>O
M_P`@M'()::7R0&V`.'B'@U#_`*=C$9)3D?\`-#ZJ_P#E/A?^P]?_`)!+_FA]
M5?\`RGPO_8>O_P`@C'KW3FV.JL<YCP\UANPN)+9!.VGU'-^@_P#G-C__``--
M5]8.EW/8RJQSG6/%<>F\0YP);OEOT?;]))2+_FA]5?\`RGPO_8>O_P`@LGZV
M_5KZNXGU8ZKD8W2\2FZO%M-=C**PYIVGW,=L]KET.=DY+;*<3#V#)R-SM]@+
MFLJKV^M<6-=7ZONLIJ97ZGT[M_\`-UO5#Z[?^)'J_P#X4M_ZDI*?_]#NOJ5_
MXD^E?^%F?D6Q;35=6:KF"RMWTF.$@QKP5C_4K_Q)]*_\+,_(KW6>K8W1NEY'
M4\IKWT8K=]C:@"\@D,]C7N8W\[]])3=27#=+_P`9N+=G48>=1Z%5XR;CF.>U
MK*Z:K<ME#;:_=[_2Q&5/]_\`/+MJ;:KZF74N%E5K0^M[3(<UPW-<T_RFI*9I
M)))*4DDDDI22222D&1[+*KNS3Z;_`.K9`_\`/K:D=0N%9J>+2!66D/),#;'N
M]RR;.OUTTL?8ZJNG<&?;,A[:Z[8`>?L;&[K<FVUCOT;*V?SGJ?Z+](E.RDLO
M]K9F1IT[IUUK3Q?E?JE7G+;FOZA_\+_3_EI_LG7,C^D9[,5IUV8=3=P_DNR<
MW[4RUO\`4P\=)3?R*S90]C='$>P^#AJQW]EZR>I_67IE.#;]GS*79SJXIQVV
M,=9ZCQ%?Z$.W^QWN>C_\W.E/,Y;'YY[_`&RQ^0V?WFX^0]^-7_UJFM8/UILJ
MPVU=+H:VC&8791:QH8T-,LK9M9M_POKV?1_,I24U^A]5ZO1;1A8QLRL:N-U6
MP6O;4W]Q[[*-F[VU5^I;^BW_`,WZ=>Q=/^U<WG]CYG^=B?\`O<@_5CI9P,#U
M;F[<K*A]H/+6C^9H/_%M=[_^&LM6PDIR>F9U&=U7->-U5]%=-3L:UI;:P'U+
MO5VG_!W.M]/U*GOJL^S?R$+Z[?\`B1ZO_P"%+?\`J2KO2O<W)O.IMR;M?^+=
M]D_]UE2^NW_B1ZO_`.%+?^I*2G__T>Y^IA+?JCTLAI<1BL(:(DF/H^[VK#Z_
MC]4^MSGXW2<UN-B_8WUYO3LF&/%[]WHMR*6BW(ILH>VM[W;/3_F?L_VFNU;O
MU*_\2?2O_"S/R+1S.F=.SPT9N+5D[/H&UC7EL_Z-SQN9_824^7XW^*KZTG=]
MHRL7^8NI;+['ZV^H\;?T7M9ZE[WO7H=V?C_5SHN&,\N?Z3*L;]"TO+K`R/:W
M]W]$[Z2)^P,5D?9LC+QB.-F3:YH\FTY+[Z/_``)"R^@WY>.[&R.HW9-%FCZ,
MFK&LK<`0YNYK,6A_M<W=_.)T.#B''Q<%^K@KCX?ZO%Z5?8?/9N]+ZEB]5P:L
M_$+C1=NV%P+3[7.J=+3_`"V*VL1W1.J>FVIF9CMKK:VNMK<>VL-:P%M;&MQ<
M_&8W9O\`9[%!W1NKBPV#(QGEQEWLR6`F=WT?M]K$)</$>&^&_3Q:RX>G$8\/
MJ5_+1WDES_[)ZN-`S&('87Y58_LM:ZS:J_[2MZ=E.JG%LRP-KL:K)RLJX#Z4
M_8JZ,JYK?^$]+V(*>H5#JW5:^FTM>]LFP[*R?HE_YE6UNZ^VVS_!8^+3?DW?
MX*I4?M7UOS*7#&P\3IY,;+LJU]KB-/=]BIKKV_R?5S&6?Z2A5*\3J^)U!AKI
MQLWJEK"7963=:][*N+'[F8U=&'4]^UC,3$IH^TO_`.(R+TE-AN'UCJ\/RR,+
M&D.8'UL=?H#M-6/;]HQL+Z7_`&J^WY%O^AZ=;6K]/2</I[_M6+5OR(BZZPFZ
M^QG[IRKS9DN]/_!5>IZ7^"]-4</JG4.H7OIP^H]-?96"7LKKLM<`#MD_K-/Y
MRN_9OK"1#L_%;YLQ'@_^"9UK?^BE5)((T(IT6N:]H>TRUPD$=P4ZP<O#ZAC!
M@?U/)B\N:XL;C4TM>X37O?\`9;LFKU;/\)OL69USH?5+NDQTG=D]2%H]2O/M
M.0!60YSOT&9:[!:_U-GZ2NG^:_TB2'I<CK'2<6ST<C,HJN_T3K&AY_JU3ZCO
M\U<EE8[KNL6YE3,BW%%C;ZFOQ<JW>!%KZ*VN9CU-K]?U;6?K+*O?]"W?8A8/
MU8^M^9TW)P,W*'20+J[,6S%%=+BT#)KMKM'2CC>HW;9B6['N_GJUO_5;ZN9_
M0W99R^H69S<DL-;'NM<VO:;7.V-R;LEWN;;77]/_``%:2FU5URZ\%V/TO,M:
M._ZNS_HWY=3]O\K:IGJ?4C&WI&1_:LQA_P!1DV*Q@TU4,?4QH;Z3MFD_1'OI
M:)_-94]JM)*>>Z6_J>0UK?LMV+3;;>]UPNJ>UI?;=;]"MY<[<[;7^C3?6VG(
MJ^J/6_7M%LXUOIP"V&[/S]S[-]F_?[_T?_%K4Z+!Z7CD=VS]Y)5+Z[?^)'J_
M_A2W_J2DI__2ZWZO863D_5#HEV'8*LS$J9;1ODUO)8^JRC(#/?Z5M=K_`'-_
MF;?2R/TOI>E9=R_K/5TO$LR>MXM^`VELOL:WUZ7&=GZ+(Q]VW>\[*OME6%99
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M:X6]-IU!=4/1?!!]U9](_1_>V;U=24I4.G`6Y&;EG7U+?1K=W].@>EL_LY?V
MQW_7%?5'HIW=.KL_TSK+O^W;'W_^C$E-?I/U7Z3TC,R,S#8X6Y.@#C+:V$[W
M48S8'I4N?[]G_I-BUDDD_)EGDEQ9)&<J`XI:GTH``T#%[&6,=78T/8X0YKA(
M(/8@K,?ZO3[6-/NQY:S&M)G;,,^QY#GGU-MSOYC(_2?IOI_X+U=5,0'"")![
M%,2LUVYH=!&X`P1!U\0I(.)BLQ,=N/6YSJV2&;C)#9]M?]6MOL8C)*<_IN19
M:[=<6FUX>VP,$`/IL=6[V[G_`)ME:T%1-3Z<S?M:RESQ!;`)<]KVV[MH;].W
MT5>24T>BQ^R\<#LTC[B6JE]=O_$CU?\`\*6_]25=Z/IA%O9E^0P?!E]U?_?5
M2^NW_B1ZO_X4M_ZDI*?_T^Z^I7_B3Z5_X69^1;:Q/J5_XD^E?^%F?D6VDI22
M222G,`/2;H&O3<BSYX]MA_\`;/(L=_Z"9'_=2[]0)1^K]6R*#]#,:,FK^O6&
M8V4W^2UK?L;_`.6^VY2ZSCC)Z7DTEGJ!U9)J/#PWWFEW\F[;Z;E1J?=D].#Z
M2;\SI=@=429=:W9OK:7N]KK<SIV1Z;[/YMF79ZG^!24WL4V,S\NE\[';+:=`
M!#ALM#8#=SFVLW6?\;4KJIL:W*R,3J..YKZ#2^'&02R[TK:WUB/^"_.5Q)2E
MG='NIKZ3TYC[&M=90P5M)`+B&;WA@/TMK6N>M%8^!@=/ZATNJN^MM[*#?C-,
MF"QEC\=[)8?=6[T*_9_I*JK/YRJM)3K;V21N$@21/`_U"&,O$<[:+JR[8VR`
MX3L>=M5G/\W8X?HW_GKG'="QZ*F7Y/3NG56A\2'&ML>GNW-M_P!+Z^__`*W_
M`-O*=O2\*V@U6X/3A346LQ*"^0`-_KL)AC?YK*R7LV,_1>I_-6)*>ED>*1<T
M"20!Q*Y<](P@#6.F=.=?6P-=2;B=A(]1M?NJ_1^T^KOV?X3_`*XE9TC`9;:Q
MO3^FVCU/3K`L]/:"=K&/KVV?K/[^S9ZO\VDIZ?U*]VW<-P&[;(F#^<F-U(M%
M)>T6N!<VN1N+00US@SZ6UKGL7,W='Z:Q[FG!Z>7.#76^M9M+;H'K>J)M]5NU
MU&S^O5_8*>C,OQ&54=/PS2&D/I#W/JWFRZZ]F]IJ]3TLEWM]2C]'ZV7^_P#I
M$IW<LC[,YXU#"VSY,<VP_P#4HZI5=,P\/#OQ\.H4LNWO<UI,;GSN=[BK53_4
MJ99^^T.^\2DIJ=-]EV=C]J\@N8/Y-K*\@N_[>MN:J7UV_P#$CU?_`,*6_P#4
ME6O5J9UH%CVN&15Z%L&=MM)-]%<#Z+[*+\JS^I2JOUV_\2/5_P#PI;_U)24_
M_]3NOJ5_XD^E?^%F?D6VL3ZE?^)/I7_A9GY%MI*4DDDDI2Q>F-.)U!N.6N:U
M];Z!NXC'LWXFS_C<;+L_]A5M+%SF#&ZQCW3ID75O#1^\&785KG_R=F5B[/Y;
M$E-G%_4NH681THR=V1BGL'$[LS'_`.W'_:Z_^/O]/]%BK15/JF/;?B[\<3E8
M[A?C:Q-C)_1[OS69##9C6_\``W6*QCWUY./5DU&:[F-L82(.UPWMT_JE)219
M'1FNP\K)Z<\`-<YU^/MDC;+:[F\;=_NHR;/Y>8M=9O5,>J@#J58VW4VUVV.D
MP6#]7OW-^C[<2Z[^WZ?[B2F]=13>S9=6VU@(=M>`X2#N:Z'?NJCE](QOL[:L
M/"Q"20'-MJ;LV`ESAM8/\Q:222G&RNE9&2QS[<7`NR7-#19?5O&W0&NQW\X_
M\Y3NZ=F7M%EM&&^^3)>POD2ST_?M:YOT-_\`VW7_`,*M9))33Q\1]E3QU&JB
MRQY<';&RTL<UK"+/5^GN:S8_^0K3&,8T,8T-:.&@0%)))2D#"_H='_%L_($=
M`POZ'2?&MI^\)*<KJ`=C9S[9.W?1E,)F&[7-P<WMM_H=J?Z[?^)'J_\`X4M_
MZDHWUCHLMZ>][!(J9<7G31IHO9N_E?I'5^U`^NI!^J'5R.#B6D?YJ2G_U>R^
MJ^-D9'U/Z0,;*?B6,H8X/8UCP[VN;Z=K+FOW5>[=^C]*W_A4'KF?]:^G78#*
M[,.]EV5767.:_&%A<+=N$W])U-V^WT]S[WUX]=7Z+9Z_J6>@?ZGY^#1]5^EU
M79-5=C<:O<Q[VM<)$ZM<Y:&1E],O<QW[1JKV<`/I<)_?_2ML][4E-1W6^K56
M^A;BX@N#=SF'(N#@-OJ<5]/NK=[6_F7/1*>L=3N);7AT66`2ZMF2[<(T]S,C
M%QW-]RO_`+5Z7_W,H_[=9_Y)+]J]+_[F4?\`;K/_`"22FM^T>K#Z72;3_4NH
M/_5V5*AU3+S;CBO=TO+KMKR*M@%F+#AZE=MK#^M[G?HZ=ZV/VKTO_N91_P!N
ML_\`)*M9D=+MS:\JSJ%+FT`^C3ZE8:U[@YC[S[MS[?2?Z3/W&/M_?24O^U<Z
M?^1LW_/P_P#WO53`ZCGXF'MMZ/F-8U]M@E^&`VMUEEM37;L]NWTZ7L:M/]J]
M+_[F4?\`;K/_`"2B_J72+&.99E8[V.$.:ZQA!![$%R2FL>M98)!Z1F`@21ZF
M%H#W_P"4/)5NI=4R\KIV7C5]*R@^VFVJ?5P]'%KF^Z,_\U6I^K/C@Z:C^:_U
M_.4C;]7#9ZI?A&S4[R:MTGZ7N^DDIBSK&98T/KZ3E.:X2"+,0@CXMSG)QU/J
MIXZ1>/ZUN./^IO>I59'0*+#;3;B56.!#GL=6TF3N.XM/[R/^U>E_]S*/^W6?
M^224UAF===]'IM3?^-R0/_/5%Z<W?6-V@Q,*O^5]IM?I_4^Q4_\`5JQ^U>E_
M]S*/^W6?^22_:O2_^YE'_;K/_))*:_H_6-PG[7A5?R?LUMG_`$_MM'_GM,,#
MK#S-O57-\J**F?\`MQ]K5G]J]+_[F4?]NL_\DE^U>E_]S*/^W6?^224U+>E=
M2V$,ZOFN<[3Z.((G\[3!_-3MZ):&!AZGFD-$#W5-T`C_``>.Q6OVKTO_`+F4
M?]NL_P#))?M7I?\`W,H_[=9_Y))32R.@/LQ[:V]0S'.>QS1NNALN!;[MM:H?
M6?`.']3NL@WW7E^&^?7L-D%K'?0D-^DMS]J]+_[F4?\`;K/_`"2QOKCU#`N^
MJG5JZ<FJRQV)=#&V-),,)T:')*?_UO*DDDDE*22224I))))2DDDDE*22224I
M))))2DDDDE*22224I))))2DDDDE/_]D`.$))300A``````!5`````0$````/
M`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B`&4`
M(`!0`&@`;P!T`&\`<P!H`&\`<``@`$,`4P`S`````0`X0DE-!`8```````<`
M`0````$!`/_A#\YH='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O`#P_>'!A
M8VME="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY48WIK8SED
M(C\^(#QX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z>&UP
M=&L](D%D;V)E(%A-4"!#;W)E(#0N,2UC,#,V(#0V+C(W-C<R,"P@36]N($9E
M8B`Q.2`R,#`W(#(R.C0P.C`X("`@("`@("`B/B`\<F1F.E)$1B!X;6QN<SIR
M9&8](FAT='`Z+R]W=W<N=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN
M<R,B/B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(B!X;6QN<SID8STB
M:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B('AM;&YS.GAA<#TB
M:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(@>&UL;G,Z>&%P34T](FAT
M='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]M;2\B('AM;&YS.G-T4F5F/2)H
M='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C
M(B!X;6QN<SIP:&]T;W-H;W`](FAT='`Z+R]N<RYA9&]B92YC;VTO<&AO=&]S
M:&]P+S$N,"\B('AM;&YS.G1I9F8](FAT='`Z+R]N<RYA9&]B92YC;VTO=&EF
M9B\Q+C`O(B!X;6QN<SIE>&EF/2)H='1P.B\O;G,N861O8F4N8V]M+V5X:68O
M,2XP+R(@9&,Z9F]R;6%T/2)I;6%G92]J<&5G(B!X87`Z0W)E871O<E1O;VP]
M(D%D;V)E(%!H;W1O<VAO<"!#4S,@5VEN9&]W<R(@>&%P.D-R96%T941A=&4]
M(C(P,#<M,3`M,3=4,3@Z-3`Z-#(K,#4Z,S`B('AA<#I-;V1I9GE$871E/2(R
M,#`W+3$P+3$W5#$X.C4P.C0R*S`U.C,P(B!X87`Z365T861A=&%$871E/2(R
M,#`W+3$P+3$W5#$X.C4P.C0R*S`U.C,P(B!X87!-33I$;V-U;65N=$E$/2)U
M=6ED.D)$,D0X1CA!0C,W0T1#,3$X0CDP1#-&,#%#.#DP14)%(B!X87!-33I)
M;G-T86YC94E$/2)U=6ED.D)%,D0X1CA!0C,W0T1#,3$X0CDP1#-&,#%#.#DP
M14)%(B!P:&]T;W-H;W`Z0V]L;W)-;V1E/2(S(B!P:&]T;W-H;W`Z24-#4')O
M9FEL93TB<U)'0B!)14,V,3DV-BTR+C$B('!H;W1O<VAO<#I(:7-T;W)Y/2(B
M('1I9F8Z3W)I96YT871I;VX](C$B('1I9F8Z6%)E<V]L=71I;VX](C<R,#`P
M,"\Q,#`P,"(@=&EF9CI94F5S;VQU=&EO;CTB-S(P,#`P+S$P,#`P(B!T:69F
M.E)E<V]L=71I;VY5;FET/2(R(B!T:69F.DYA=&EV941I9V5S=#TB,C4V+#(U
M-RPR-3@L,C4Y+#(V,BPR-S0L,C<W+#(X-"PU,S`L-3,Q+#(X,BPR.#,L,CDV
M+#,P,2PS,3@L,S$Y+#4R.2PU,S(L,S`V+#(W,"PR-S$L,C<R+#,P-2PS,34L
M,S,T,S([1#`Q0S1&,44U.34T,C<T040S,3)$.$0W0D$P-C@Y,T8B(&5X:68Z
M4&EX96Q81&EM96YS:6]N/2(V,#`B(&5X:68Z4&EX96Q91&EM96YS:6]N/2(T
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M.3DQ+#0Q.3DR+#0Q.3DS+#0Q.3DT+#0Q.3DU+#0Q.3DV+#0R,#$V+#`L,BPT
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M.#DP14)%(B\^(#PO<F1F.D1E<V-R:7!T:6]N/B`\+W)D9CI21$8^(#PO>#IX
M;7!M971A/B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(#P_>'!A8VME="!E;F0]
M(G<B/S[_X@Q824-#7U!23T9)3$4``0$```Q(3&EN;P(0``!M;G1R4D="(%A9
M6B`'S@`"``D`!@`Q``!A8W-P35-&5`````!)14,@<U)'0@``````````````
M`0``]M8``0````#3+4A0("``````````````````````````````````````
M`````````````````````````!%C<')T```!4````#-D97-C```!A````&QW
M='!T```!\````!1B:W!T```"!````!1R6%E:```"&````!1G6%E:```"+```
M`!1B6%E:```"0````!1D;6YD```"5````'!D;61D```"Q````(AV=65D```#
M3````(9V:65W```#U````"1L=6UI```#^````!1M96%S```$#````"1T96-H
M```$,`````QR5%)#```$/```"`QG5%)#```$/```"`QB5%)#```$/```"`QT
M97AT`````$-O<'ER:6=H="`H8RD@,3DY."!(97=L971T+5!A8VMA<F0@0V]M
M<&%N>0``9&5S8P`````````2<U)'0B!)14,V,3DV-BTR+C$`````````````
M`!)S4D="($E%0S8Q.38V+3(N,0``````````````````````````````````
M````````````````````````````````6%E:(````````/-1``$````!%LQ8
M65H@`````````````````````%A96B````````!OH@``./4```.06%E:(```
M`````&*9``"WA0``&-I865H@````````)*````^$``"VSV1E<V,`````````
M%DE%0R!H='1P.B\O=W=W+FEE8RYC:```````````````%DE%0R!H='1P.B\O
M=W=W+FEE8RYC:```````````````````````````````````````````````
M``````````````!D97-C`````````"Y)14,@-C$Y-C8M,BXQ($1E9F%U;'0@
M4D="(&-O;&]U<B!S<&%C92`M('-21T(``````````````"Y)14,@-C$Y-C8M
M,BXQ($1E9F%U;'0@4D="(&-O;&]U<B!S<&%C92`M('-21T(`````````````
M````````````````9&5S8P`````````L4F5F97)E;F-E(%9I97=I;F<@0V]N
M9&ET:6]N(&EN($E%0S8Q.38V+3(N,0``````````````+%)E9F5R96YC92!6
M:65W:6YG($-O;F1I=&EO;B!I;B!)14,V,3DV-BTR+C$`````````````````
M`````````````````'9I97<``````!.D_@`47RX`$,\4``/MS``$$PL``UR>
M`````5A96B```````$P)5@!0````5Q_G;65A<P`````````!````````````
M`````````````H\````"<VEG(`````!#4E0@8W5R=@````````0`````!0`*
M``\`%``9`!X`(P`H`"T`,@`W`#L`0`!%`$H`3P!4`%D`7@!C`&@`;0!R`'<`
M?`"!`(8`BP"0`)4`F@"?`*0`J0"N`+(`MP"\`,$`Q@#+`-``U0#;`.``Y0#K
M`/``]@#[`0$!!P$-`1,!&0$?`24!*P$R`3@!/@%%`4P!4@%9`6`!9P%N`74!
M?`&#`8L!D@&:`:$!J0&Q`;D!P0')`=$!V0'A`>D!\@'Z`@,"#`(4`AT")@(O
M`C@"00)+`E0"70)G`G$">@*$`HX"F`*B`JP"M@+!`LL"U0+@`NL"]0,``PL#
M%@,A`RT#.`-#`T\#6@-F`W(#?@.*`Y8#H@.N`[H#QP/3`^`#[`/Y!`8$$P0@
M!"T$.P1(!%4$8P1Q!'X$C`2:!*@$M@3$!-,$X03P!/X%#04<!2L%.@5)!5@%
M9P5W!88%E@6F!;4%Q075!>4%]@8&!A8&)P8W!D@&609J!GL&C`:=!J\&P`;1
M!N,&]0<'!QD'*P<]!T\'80=T!X8'F0>L![\'T@?E!_@("P@?"#((1@A:"&X(
M@@B6"*H(O@C2".<(^PD0"24).@E/"60)>0F/":0)N@G/">4)^PH1"B<*/0I4
M"FH*@0J8"JX*Q0K<"O,+"PLB"SD+40MI"X`+F`NP"\@+X0OY#!(,*@Q##%P,
M=0R.#*<,P`S9#/,-#0TF#4`-6@UT#8X-J0W##=X-^`X3#BX.20YD#G\.FPZV
M#M(.[@\)#R4/00]>#WH/E@^S#\\/[!`)$"800Q!A$'X0FQ"Y$-<0]1$3$3$1
M3Q%M$8P1JA')$>@2!Q(F$D429!*$$J,2PQ+C$P,3(Q-#$V,3@Q.D$\43Y10&
M%"<4211J%(L4K13.%/`5$A4T%585>!6;%;T5X!8#%B86219L%H\6LA;6%OH7
M'1=!%V47B1>N%](7]Q@;&$`891B*&*\8U1CZ&2`911EK&9$9MQG=&@0:*AI1
M&G<:GAK%&NP;%!L[&V,;BANR&]H<`APJ'%(<>QRC',P<]1T>'4<=<!V9'<,=
M[!X6'D`>:AZ4'KX>Z1\3'SX?:1^4'[\?ZB`5($$@;""8(,0@\"$<(4@A=2&A
M(<XA^R(G(E4B@B*O(MTC"B,X(V8CE"/"(_`D'R1-)'PDJR3:)0DE."5H)9<E
MQR7W)B<F5R:')K<FZ"<8)TDG>B>K)]PH#2@_*'$HHBC4*08I."EK*9TIT"H"
M*C4J:"J;*L\K`BLV*VDKG2O1+`4L.2QN+*(LURT,+4$M=BVK+>$N%BY,+H(N
MMR[N+R0O6B^1+\<O_C`U,&PPI##;,1(Q2C&",;HQ\C(J,F,RFS+4,PTS1C-_
M,[@S\30K-&4TGC38-1,U336'-<(U_38W-G(VKC;I-R0W8#><-]<X%#A0.(PX
MR#D%.4(Y?SF\.?DZ-CIT.K(Z[SLM.VL[JCOH/"<\93RD/.,](CUA/:$]X#X@
M/F`^H#[@/R$_83^B/^)`(T!D0*9`YT$I06I!K$'N0C!"<D*U0O=#.D-]0\!$
M`T1'1(I$SD42155%FD7>1B)&9T:K1O!'-4=[1\!(!4A+2)%(UTD=26-)J4GP
M2C=*?4K$2PQ+4TN:2^),*DQR3+I-`DU*39--W$XE3FY.MT\`3TE/DT_=4"=0
M<5"[40914%&;4>92,5)\4L=3$U-?4ZI3]E1"5(]4VU4H5755PE8/5EQ6J5;W
M5T17DE?@6"]8?5C+61I9:5FX6@=:5EJF6O5;15N56^5<-5R&7-9=)UUX7<E>
M&EYL7KU?#U]A7[-@!6!78*I@_&%/8:)A]6))8IQB\&-#8Y=CZV1`9)1DZ64]
M99)EYV8]9I)FZ&<]9Y-GZ6@_:)9H[&E#:9II\6I(:I]J]VM/:Z=K_VQ7;*]M
M"&U@;;EN$FYK;L1O'F]X;]%P*W"&<.!Q.G&5<?!R2W*F<P%S77.X=!1T<'3,
M=2AUA77A=CYVFW;X=U9WLW@1>&YXS'DJ>8EYYWI&>J5[!'MC>\)\(7R!?.%]
M07VA?@%^8G["?R-_A'_E@$>`J($*@6N!S8(P@I*"](-7@[J$'82`A..%1X6K
MA@Z&<H;7ASN'GX@$B&F(SHDSB9F)_HIDBLJ+,(N6B_R,8XS*C3&-F(W_CF:.
MSH\VCYZ0!I!ND-:1/Y&HDA&2>I+CDTV3MI0@E(J4])5?E<F6-):?EPJ7=9?@
MF$R8N)DDF9"9_)IHFM6;0INOG!R<B9SWG62=TIY`GJZ?'9^+G_J@::#8H4>A
MMJ(FHI:C!J-VH^:D5J3'I3BEJ:8:IHNF_:=NI^"H4JC$J3>IJ:H<JH^K`JMU
MJ^FL7*S0K42MN*XMKJ&O%J^+L`"P=;#JL6"QUK)+LL*S.+.NM"6TG+43M8JV
M`;9YMO"W:+?@N%FXT;E*N<*Z.[JUNRZ[I[PAO)N]%;V/O@J^A+[_OWJ_]<!P
MP.S!9\'CPE_"V\-8P]3$4<3.Q4O%R,9&QL/'0<>_R#W(O,DZR;G*.,JWRS;+
MMLPUS+7--<VUSC;.ML\WS[C0.="ZT3S1OM(_TL'31-/&U$G4R]5.U='65=;8
MUUS7X-ADV.C9;-GQVG;:^]N`W`7<BMT0W9;>'-ZBWRG?K^`VX+WA1.',XE/B
MV^-CX^OD<^3\Y83F#>:6YQ_GJ>@RZ+SI1NG0ZEOJY>MPZ_OLANT1[9SN*.ZT
M[T#OS/!8\.7Q<O'_\HSS&?.G]#3TPO50]=[V;?;[]XKX&?BH^3CYQ_I7^N?[
M=_P'_)C]*?VZ_DO^W/]M____[@`.061O8F4`9(`````!_]L`A``,"`@("0@,
M"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.%!0.#@X.%!$,#`P,#!$1#`P,
M#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`S_P``1"`&G`E@#`2(`
M`A$!`Q$!_]T`!``F_\0!/P```04!`0$!`0$``````````P`!`@0%!@<("0H+
M`0`!!0$!`0$!`0`````````!``(#!`4&!P@)"@L0``$$`0,"!`(%!P8(!0,,
M,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D%5+!8C,T<H+10P<EDE/PX?%C
M<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-UX_-&)Y2DA;25Q-3D]*6UQ=7E
M]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$``@(!`@0$`P0%!@<'!@4U`0`"
M$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D8N%R@I)#4Q5C<S3Q)086HK*#
M!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4I(6TE<34Y/2EM<75Y?569G:&
MEJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1`Q$`/P#F_JI]5>D=7Z97DYIS
M+,K)SWX./5BOJ8WV4C,WV.R6/_-]1=-_XTO3_P#N-U+_`-B<3_TDJ7^+G^@=
M)_\`3]=_[8.7L"2GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DE
MZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&E
MZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L
M3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:
M7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^
MQ.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDD
MI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`
M]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^
MDDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__
M`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_
MZ27J:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_
M\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI
M?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^DDO_
M`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&Z
ME_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J
M:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I
M_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.
M)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>
MG_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$
MXG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22G
MRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W
M&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z2
M2_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`
M<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I
M)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GRS_Q
MI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7_L3B?^DEZFDDI\L_\:7I_P#W&ZE_
M[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`
M&EZ?_P!QNI?^Q.)_Z27J:22GRS_QI>G_`/<;J7_L3B?^DDO_`!I>G_\`<;J7
M_L3B?^DEZFDDI\L_\:7I_P#W&ZE_[$XG_I)+_P`:7I__`'&ZE_[$XG_I)>II
M)*?+/_&EZ?\`]QNI?^Q.)_Z22_\`&EZ?_P!QNI?^Q.)_Z27J:22GY_\`KI]6
MNG=!;AG".2VRZW(IR*\I];RUU`QG-]-^,UC-KVY22V?\;/\`/8O_`(=S?^HZ
M<DDI_]"I_BY_H'2?_3]=_P"V#E[`O'_\7/\`0.D_^GZ[_P!L'+V!)2DDDDE*
M22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I)))
M)2DDDDE*22224I))))2DDDDE*22224I))))2DDE"ZZJBIUUS@RM@ESCP`DIF
MDH4VBZIMK6N:'B0UX+7?VF.]S5-)2DDDDE*22224I))))2DDDDE*22224I))
M))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE/
MC'^-G^>Q?_#N;_U'3DDO\;/\]B_^'<W_`*CIR22G_]&I_BY_H'2?_3]=_P"V
M#E[`O'_\7/\`0.D_^GZ[_P!L'+V!)2DDDDE*225!W7NCL)#LNL%K;'D$Z[:7
M_9[W1_P5Q]-)3#ZQ9F=A='OR>GAARVFMM(M^@7/LKJVOC][>@_5GK%_5\;+O
MN9Z9IR[<=M9&US17L;Z=G\MEF_W*[U/,;BXQV^[(MEN-4&EQ=9$L]C?S6_2>
ML+Z@]2S\CHE%/5[#9U!WJ/%CFD>HP/+=V^&LL?5_-O\`^MI*>H252SJN!7G-
MZ>^V,IP!%8:XZ.W;-SFMV-W;'?2<K:2E))))*4DDDDI22222E))))*4DDDDI
M22222E))))*4DDDDI22222E))))*4DDDDI22222E))))*4DDDDI2SG_KG5_1
M=K1@,;86]G76;O3W?\14S>W_`([_`(-:*SNE^[+ZD_N<D-GR;53"2G122224
MI))))2DDDDE*22224I))))2DDDDE*22224U\^AV1@Y&.UQ8ZVI[&N!@@N:6A
MS3_)3=.R?M?3\;*.AOJ981X%S0XA65G="]F)9C?]Q;[JM?`/=97_`.!6,24Z
M*2222E))))*4DDDDI22222E))))*4DDDDI22222E)+ECU#K'UES;L?HV0>G]
M&Q7FJ_J;6AUU]K3^DIZ?ZH=4RBKZ%F6YMGZ3^96_TW".!ALQ3D7999)-^2[?
M8XD[O>\-9_U*2FTDDDDI\8_QL_SV+_X=S?\`J.G))?XV?Y[%_P##N;_U'3DD
ME/\`_]*I_BY_H'2?_3]=_P"V#E[`O'_\7/\`0.D_^GZ[_P!L'+V!)2DDDDE*
M7,Y'U,%W4;<W[46^IE5WM8&#VTC])D8D_P#=G*_6'N73))*>&R/J;U##R+<J
M[KW4K:+C:'75EILJ#Q7M-C?3MWT_HOTOV9E'_5K%^K'U5SNI=!Q<;%ZSF5L8
M;W.L9ICUEWK55LQVN:RZRZSU?6NV7^FS_C%Z%]8+GT=%S+&"HN%1:!>8K.[V
M18[^TLSZ@86+@?5UF'C$EM-US7N<`'%X>Z=YK?;38YG\WZE%KZ?8DIG@_5O.
MPL^K).;]L:UE3+;,D/-SO3]22'464T>[U?\`#47+H4DDE*22224I))))2DDD
MDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I
M))))2EG=.]G4NIU<#U:[1_;J8#_TJUHK.=^AZ^T_FYF,6^6_'?N;_:?7EO\`
M^V4E.BDDDDI22222E))))*4DDDDI22222E))))*4DDDDI2SL3]#UC/H[7-IR
M6_$AV-8!_5^S5N_ZZM%9V;^AZM@9/`M%N*X_UPW(K_Z>,DIT4DDDE*223<:E
M)3D=7R<VSJ>#T?$N.(,IEU]^2QK7/%=/I,]*CU6OJ;9;9D,_2.99LK8HOR<W
MH=5AR[W=2KNMKJP&$-;D&RT[/0M>T58[J]_O;=L9Z=6_U%0IZGT_ZRVTOQKK
M.F=3Q7O=A70QQLJ=['[&OW5WX^34UEEM'\[7^B?_`"U>/U:]6NVS*S;;L^U]
M5K<N&M%;L<E^,*<=H]%M;-[_`%&._GO4_2)*87?6@X[OL]V%8,[[15C?9FO8
M1-[;+,>YMTM;Z#_1L;^__(3U?6>Q[VBW`LJK^U?8;;"]A#;R=M8:UONLH>[T
M_P!-_P`+_-I_^;+;+V9>5E/NRQE4Y3[0UK`1CMLKHQF5M^A2WUK'_2>_U$<]
M!I+7--KO=G-ZAP/I-<RSTOZGZ-)3F8?UMN;AT?;J6-S<J_+;4QUK*Z_2QKGT
MFQ]S_:W9^BJ_?L>K='UIKSJZ?V9C.R[[*[+;*0]C=@J?]FL:;9=6]_KM?75Z
M?LL_?4/^:;6^FZK*/JT6Y%E#[*J[`VO*?]HOQK*W#]*SUOTE=GLM1Q]7GT^C
M;B9KZLNNIU%N0YC'^HQ[O6/Z*&5U^G;[J/3_`)K^6DIS6_6?.HS^K7VXMMF!
MB,Q;7,<65OH;95ZES/3=[[+6N]]C%U:Q#]5L<XW4<<Y%KAU.JJFQ[R'/:*J_
MLX?O=_.6/^F_>MH)*76!]<<W)KZ?5TS`?Z?4.L6C#QWCEC7#=E9/+?Z/C-L>
MM]<UBM/4_KQEY;M<?H>.W$H!X^T9$9&4]O\`+9CMQZO^N)*=SIV!B]-P:,#$
M;LQ\9@KK;Y-'YW[SG?GJRDDDI22222GQC_&S_/8O_AW-_P"HZ<DE_C9_GL7_
M`,.YO_4=.224_P#_TZG^+G^@=)_]/UW_`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<
MO8$E*22224I))))2SFAP+7`$'0@Z@A,QC*VAC&AK1PUH@#Y!2224I))))2DD
MDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224
MI))))2DDDDE*22224I9W6OT56/G#G#O98X_\&[]7O_\``KG/6BAWTUY%-E%H
MW5VM+'M\6N&UP24D25'HUUEN`QEQW7XQ./<3R7U'T]Y_XUNVW_KBO)*4DDDD
MI22222E))))*4DDDDI22222E))))*4L_KC''IME]8FS$+<E@')]%PN<QO_&5
MM?5_;6@F<T.:6N$AP@CR*2EF/:]C7L.YK@"TC@@\*2S^A.+>GC&=]/">[&=\
M*CMJ_P`ZCTGK024I8_UKS78?0\CTS%V1&/41SNM/I[A_49OL6PN,^NF7ZW4\
M;!:99B,-]G_&6353_F5"_P#[=24X/IL#6M'M#(V%I@M+?HN8YON8YJZ#IWUR
MR,6H4]1HLS-NC<BG9O(_X>JQ]+=W\NKZ?^B6"DDI[*KZZ_5]_P#.VV8Q[^O4
M]@_[<V^E_P!-:^+EXV90W)Q+6WTOG;8PAS3!VG4?REYO73D9%U6)B_TC(=LK
M/8=WVN_D4LW6+T;`P:.GX=.'CB*J6AH\3^\]W\M[O>])3824'W4U_P`X]K._
MN(&GS0']4Z8S1^70V>)L8/\`OR2FTDJ[,_!?&S)J=NXA[3/XHX(.HX24M8]E
M;'6/.UC`7.)[`:DKGOJ&Q[^A'J=K=MW5\B[/>#S%SSZ#?[..VE'^N^6_$^JG
M4GUSZME)HJCDOO(QJP/[=JU.GXC,+`QL.L17C5,J8/)C16W_`*E)3822224I
M))))3XQ_C9_GL7_P[F_]1TY)+_&S_/8O_AW-_P"HZ<DDI__4J?XN?Z!TG_T_
M7?\`M@Y>P+Q__%S_`$#I/_I^N_\`;!R]@24I))))2DDDDE*22224I))))2DD
MDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224
MI))))2DDDDE*22224I))))3G#]4ZR1Q3U%D_"^H?^C\;_P!M5HJIU3%LR<0^
MC`R:2+L<GCU&>Y@/\BS^:L_X.Q%P\JO+Q:LFN0RUH<`>1^\QW\ICO:Y)29))
M))2DDDDE*22224I))))2DDDDE*23$AHEQ``Y)6+U+ZZ_57I>X9G4Z&O;]*NM
MWJO!\ZJ/4L24[:2XS_QRJ<P[>@]'S^JD_1L94:ZI_E7.W;/[3$OMG^-#J,>A
MA8/1JG=\AYOM'G^BW5?^!I*>BK_5NMVU\5Y]8N;_`,;3%-W^?0<;_ME6LK/P
M<-ALS,BK&8.76O:P?YUA:N'ZG]3OK-=C'-ZS]8\B_P"SD6.IPV#'AD_K/I6,
M_.^S^IL_0K3P_P#%E]3JW"^W'?GVN$F[)M?873^<X!S:G?YB2D^;_C'^IF%.
M_J5=SA^;0'6_]*IKF?\`37*OSOVGD7]3@AN:_P!2H.Y%0&S&!_ZRUC_[:ZGK
MW3^C]#Z%>.FX6/BW9$8]+JZV-=NM]A=N`W>ROU+5RK6AK0UNC6B!\`DI=))&
MP<!_5,ZKI["0VWW9#Q^;2W^=/]:S^9K_`.,_D)*;'2_J=E=:8WJAZGD]-I<'
M5X[,0ACW5S[[G7?2_3N9[/\`@F,_?6@/\6/2'_TWJ'4L[Q];))_ZAK%U]=;*
MJVU5M#6,`:QHX`&C6A224\>S_%1]26&3AO?_`%KK/^^O:K#/\6?U)8W;^S6N
M\W66$_\`GQ=0DDIY2W_%=]2+"3^S]L_NVVC_`-&('_C7=#H!/2\O/Z6\Z[L;
M(<)^._<NR224^8_6C!^N/2#T_$=U`_6#$R,NNRO$>P5Y+CC?KGI>HW?OKVT>
M]_\`X&N[^KWU@P/K#TUG4,$D-DLMJ?H^NP?3IM;^^U9O5&_:?KUT2GM@XN7E
MD>;_`$L-A_\`!'K5Z;T/I_2\K.RL-KJW]1M%V0W<2SU/SGLK^BSU-VZQ)3H)
M)))*4DDDDI\8_P`;/\]B_P#AW-_ZCIR27^-G^>Q?_#N;_P!1TY))3__5J?XN
M?Z!TG_T_7?\`M@Y>P+Q__%S_`$#I/_I^N_\`;!R]@24I))))2DDDDE*4+;64
MU/NL.UE;2]Y\`T;G*GUWK.+T+I=W5,MMCZ*-NYE0#GDO<VE@8U[JV_3L_?7#
M]?\`\8W3NK]!ZIT_$Q<W$R7XUP#\FIC&^PMJR:MS+K7>HUMFWZ"2GH_J)]:3
M]9ND6Y=@#;Z<BRI[6B(;/J8__@#V,_L+I%X=_B^ZGU#H_2OK'DXMC193B5WU
MB6V-#P]U8<6@N;]%SE89_C"_QA/V[;\0[RP#7'&ME9RF3NL]OZ%ONW?0L_0_
MSWZ-)3[2DN?^H?6<[KGU8Q>I9[FNR;76![F-V@[+'UM]H_DM70)*4DDDDI22
M222E))))*4DDDDI22222E))))*4DDDDI22222E))))*4DDDDI22222E))))*
M4DDDDI22222E+.QOU+J5F(=*,N<C'\G_`/:JG^U[<EG_`!EZT54ZEBV9&.#1
M`R:'"[&<>/4;^:[^1:W=39_P=B2FVF)`!),`:DE8/_.9V4R.GT2]UGV<>J0U
MPO`W.J^S_P`ZZJOZ%]WL]/\`G?TM:KG,ZGUME9QA9C-];]+2]NPMK8]]#W[G
M_H<MCF[F96*])3T%6;C77FFIX>0P6;FP6D;G5':X?G,?7[T=9'2^B/P;\?(<
MYAM9B^AE.KW-;9;-/Z<5.+FM_F7;G?SBUG.:QI<XAK1J2=``DI=)<YU3_&!]
M5>FO]%V8,K)F&X^(#<\N_<_1_HVN_KV+.'UG^NW5].A]!^Q4.^CE]3?L_M?9
M61;_`)GJI*>T67U/ZS_5_I(/[0ZA10X`GTR\%YC]VEFZUW^8L`_4OZQ]5]WU
MB^L-[JR9.)T\#'KCNPO^E:W_`(RM:G2_J)]4^ED/QNG5/M!GUKYN?/[VZ_?L
M_P"MI*<QW^,>K,<:_J[TG-ZNX_1M;6:J/+=?:/;_`&ZTB/\`&?U3O@]`I<.W
MZS>W_J\9=BUK6-#6@-:.`-`G24\8W_%NS,=O^L/6,[JQ/TJ39Z5)_P"LLW?]
M&Q;73OJ=]5^F;3A],H8YH@6.9ZC_`/MV[U+/^DME))2P`:`&B`.`$Z222EG-
M:YI:X2UP@@]P50Z.XU4V=/L,V8+O2!/)J/OQ;/\`MG]'_P`;5:M!9N>1AYM'
M49BEWZOEGL&N,X]SO^*O_1_\7>DIY[ZZ9?K=3QL%IEF)6;[!_P`);-5/^;4V
M_P#[=6&I7Y1SLS*SS/ZU:Y[)[5M_18X_[9K8[^NHI*6<YK&E[S#6@EQ/8!=E
M]4NE.P\$Y=[=N7FP][3RRL?S%']EKO4L_P"%L7.="Z9^U.J,J>)Q<7;=D^#C
M/ZO1_P!<>WU+/^#K_P"$7H*2E))))*4DDDDI22222GG,0"[Z_=0MF3A].QZ0
M/#UK+KW_`.=Z5:Z-<Y]7`+?K']9<J9_6:,<'P%6/7N;_`-N6O71I*4DDDDI2
M2222GQC_`!L_SV+_`.'<W_J.G))?XV?Y[%_\.YO_`%'3DDE/_]:I_BY_H'2?
M_3]=_P"V#E[`O'_\7/\`0.D_^GZ[_P!L'+V!)2DDDDE*227/]?\`KS]7OJ]F
MLP>IVV,OLK%K6LK<\;7.?6WW-_E5O24U?\9__B(ZCK&M'N\/T]/NT_=7C>"X
MD=0G,^V?JV4?\)W=5^G_`$[6_P!*^G_I/],O2_K9];NB_67ZD]8;TE[[78WV
M;U6O8YD^I?6&-;N^EOV?FKS"EUE%F757@^C9:VW'?67N8ZLW/;7338W(+MWV
M=U6S_!O]_P"F24[7U9%HZ']9_5;M/[/9`.\:>J?]-[ES5?[&]OJ#)Y9OVEG'
MI_IMLC_N7_-?]U_^$6MT+-?@X75\%^.!^TL.QC;&OT:<<NN?+/TF[=L]/Z;%
M3JIZT[9Z=%!EU6V:\8R30Y]&[>W\_$_2OW_X;]);^M)*>OZ?]:NN=`^IGU>I
MZ/Z._-=GNL]<"(IMWC:^Q]3&^VRQ=5_BY^MW7NOY>=C]7]#]7JIMJ]$#BT%_
MN<Q]C?H;/9].M>==5&,?J;]5?M)>*9ZE)K`+I]6O9`>6M_G-N]=/_B5&..H=
M5^SEY9Z&//J``[_?ZT;2[V>KO]/_`(-)3ZPDDDDI22222E))))*4DDDDI222
M22E))))*4DDDDI22222E))))*4DDDDI22222E))))*4DDDDI22A;;536;+GM
MKK;JYSB`!\RLO*R:.L8-U>'8X&HLL<UU;CZE?\XR*M^.Z['RFM]FRW](DINY
M'4L/'WM?9NL80#2SW6$NU8&U-][MZY^_K_4LLL9A.:`\NLJMI;ZA=40#BW.Q
MW-<]S'/]7&R*V^GZ=_\`.75)4=+]2FZ[)L;@X;&"MUSZAC[Z1^E<STWV.]&K
M'N_H[[_W\BGTO15(_7?I]3G=,^J6#=U[,!)>^J6TM<\[GV7Y;QL_2.]WL_0O
M_P!(DIV:,"O!Z\.IN;Z/[4J%=K-"&Y`_21O_`#?59O\`H?3M_EVJ/5_KM]5^
MADU9&6QV1)_5<<>K87&3JRKZ#WN_TNQ9%GU4^MWUC8?^<_51A8K]1T[IP``(
M.YGJY-F_=M_<_3+5^JWU<Z!TFIU6+@U4Y^,?3OM(WV$\MM9=;NL]*]GZ1O\`
MVW_@TE.8/K']>>N:=!Z.WIF,[Z.;U,EKH_>&*SW_`/GY.W_%Y?U(BSZT]8RN
MJGOC5GT,<?\`6:_^K_1KM$DE.=TOZO=#Z.S;TW!IQNQ>QHWG^O<[=:_^V]:*
M222E))))*4DDDDI22222E))))*4L3ZXY#*OJ_DTN`<[-`Q6-.H)N]C]/^#I]
M6W_K:M]>Q[\GHV95C6.IR#4YU%C##FV,_24N!'_",:N(S^O9'6Z\$75EGV:L
MV6NX9998`VJRO_K/J;V_X*QZ2FLUH:T-;HUH@#R"9[MC9`+G:!K!RYQ.UC&_
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MNW^RBU6"VIEK=`]H<`>8(E)3XW_C9_GL7_P[F_\`4=.22_QL_P`]B_\`AW-_
MZCIR22G_UZG^+G^@=)_]/UW_`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<O8$E*227
M/?7C,ZUT_H]?4>D$SA9%=^;6T-+K,5N[[14W>'?R'N_D)*>A7C/^.,./UMP]
MK=Q^R51]+GULB!^B]_N_]5KUKI/5NG]8P:\_I]S;L>T2".0>]=C?S+&?GL7+
M9GV7KGUDR<7JOU6LO&)2!3EV[)L:'NV['/LKI]'WN>W;=98DI\U^KO\`XBOK
M/N$-VX))$R1]I,QN6&64VW.LJK=?2ZQHK-UC66$/LL+1;K].UC?TEG^#7OG3
MOJU]7_LF5B?L1N%CY.P7TV!A%H8?4JGT;;OYIZQ,S_%K]7GY3WMZ6'5^I%8%
MEC&AFVIP9%5U6QKKGY/Z5WJ;$E/DG3V-9=:!6*R<3+,AX?(V7,''T=FS;_+^
MFJC:^E:;K[QJS=%+3`+"ZW;.0W=LR/T;/WZ?TW_`KV.K_%OTO#S;[,/`!86W
M&@V6/>V-M=;<:ZJRW])5?NM]W\Y_X&KV+]0/JVS*+;^DL>`2!9M:*RS:W4MG
M=ZOJ[OH_^>TE/F6>+#]4OJIZ7I%_^5(^T;/3^FS=N^T?HMVW^;W?X5=1_B<%
M@ZGU,6>D'?9<6/1V;8+3LW>C[?6V_P`__A/6W^K[UWEWU0^K-V+1AV].H?C8
MF_[/46Z,]0[K=G_&.;[T?I?U>Z)T=UC^F8=6(ZX`6&L07`?1G[TE.BDDJ/6\
M_P#9_2\C+%M5+JVC99>2*PYQ#&>I'\IR(!)J(,B=HQUE(]HA,19`L"S5RTB/
M[S>27#6_7VUS&"K+Z76\$%[C=8X$?G-:WTF;-RN]-^N9S^J8N*,C`].UQ:]E
M5KWV.)!V>GNJK;])//+\P+)Y?,`.IQ9`/^BS'EZ%^[A.A-#+`R]/A_7_`$7K
M$DDE&P*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDE1ZMU&
MWIU-5S,<Y+'VMKMVN:TL#_:VS])#'?I-E?T_STE-Y8MOUC:[+.-@T?:G!YID
M/#&^H&F_9ZC@6;;:6O\`1>S_``K/2?Z:S_M_4NH66XK/7=;BAS2&`4NWV?I,
M.W*JN])ME'I^ICWL;ZE?J5_0]]:I]5ZWT+H3L;I[6OZKUJH"O'Z=B2XPQWJX
MM63LEOZI_@76?IO\)Z:2FY4>I=2O.3>37BUV?:*'V@>BQK'%U%AG;ML]%S\7
M(Q_])ZM]EGLI6>_ZVXOVC]G?4W"?UO/J#JFY/&+16YWJ-J?D^SU**G?S+/W/
MYNY3K^JOU@^L[AD_7#)./A$[J^B8CBU@'+?M=[3NL?\`U7?]<K77X/3\'IV,
MW%P:&8V.SZ-=;0T?'3\Y)3R='U$S^KV-R_KGU!_4'`[F].H)KQ6'PANU]VW_
M`*W_`-<76X>#AX&.W&PJ&8U#/HUU-#6CY-1TDE*5'/ILJL;U'&:7VU#;=4WF
MRF=SF#_A:OYRC_MK_#*\DDIA3=7?4RZIP?78T.8X<$'4%36=_P`F9)[8&2Z?
M*FUQ_P"C1D._[:O_`..6BDI22222E))))*4DDDDI22222E))))*4O,;L?['F
M96%_W&O>QO\`4)]:G_P"VM>F\:E<3]9\.H]:=EMS</%Q[ZF"^[(N:W8^LN9/
MI;M]KK*G,_<_FDE.):\,J<XN:R`8<[Z(/YNY;WU1R_K+9CX^%CX^+3A8I#,K
M)M;:VQY,66OJQW.8_P!2_?ZOK6?H?]'ZBKXO6/\`%ST9S;\GJE6=ELXN(==M
M/_`4XS+*JO\`SY_PJ:S_`!F?5MG4AEX#<K,KO9Z60VFAVKFG=C6-]7TO=[K*
M7?UZO]$DI[U)<7_XXN5:"<7ZM]4>W]^RKTF_]N.W,4C]:_KM<0<3ZJ6;3P;L
MFNO_`*H!)3V22X\=6_QEW:LZ'AXT]K<D/(G_`(EWYJ;U/\;#QI5T>J?$W$CS
M]KG-24]BDN.;B_XT[(]3-Z71.A#*['QY^]J1Z/\`XS7M@]?Q*CV<S&:X_P#@
ME:2GL4/(?LQ[7_NL<?N"Y`_5[_&0\#=]:*VGP;AU?^0:J_4/J_\`7VGIV5=D
M?6D.KKIL>]@Q*Q+6M+G-W^US=R2G0^J+#7]2^C@XCLPNI+]K2T1ZGJ;G?I7,
M^FRY[%H.;N8QAZ/=%9)9%E8(+OI>YM^YV[:N5^KWU8^NMO0>G6XOUF.+CV8U
M3ZL?[,UWIL<QKV5;R[W>GNVK0_YJ?7W_`.>UW_L*S_R:2G7;14T`#HED-,@;
MZH!CTY_GOS6#:B-EID=&M[_GU:3S'Z9'^K_3^K=/PG4]6ZB>JY#GEPO-;:MK
M2`!4&LG=QN6FDIYGZOY]_4^HYU67T2[I[,5SJ*\ISOT=C*SLK9LENYVW\ZKU
MJ?\`A5TE=;*F!E8VM'`\%)))3XQ_C9_GL7_P[F_]1TY)+_&S_/8O_AW-_P"H
MZ<DDI__0J?XN?Z!TG_T_7?\`M@Y>P+Q__%S_`$#I/_I^N_\`;!R]@24I,0"(
M.H/(3I)*>0S_`*A&C,?U3ZJYK^BYSSNLI:-V+8?^$QOHMW?ZUH(^M?UPZ-[/
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M*F?5<UKV`:DFMS;M@_K[%GX_^,_ZDWF!U#TS_P`)78S_`*3J]JT*?KI]4[R!
M7U?$)/`=:UI_Z9:GX<LL62&6/S8Y1G'^]`\2"+!'=\G?F]#!V50VD8K6/!8&
M6;FG):ZJQL6^H^QUF/9<YEG\[Z=GT*_T6E]4NGMZM]9NFW8T!N"/5R!62ZMM
M=;6-QXEC-EU]V_U*GKK^K_5'ZE_6'*^V,RJZ\AY!M?BW5P_^NS](S?\`RVKH
M>B]$Z7T7#&+TRH5U$[G.G<Y[OW[+#[GK?S_&N7/+GV1D]_)$PD)_)CXX\$I<
M7Z?]5C&,WK5!N/OIKLKJ>\-LN)%328+B!O<&_P!5H1%G=4P\RW*P<K$;78[#
M>]SJ[7NK!#ZW5>U[*K_H[OW%0S.A]2RG7'=76Z\O+K18_<6/K]+[$Z*V_H*[
M/TK;/Y'\S[WKG65Z!#]>GU_L^\>MM]3TY]VR=F_;^[N7-]0Z7FTVFNBGUZGV
M!V,UI>&T`V5/<ZO:US&OVBS?_-,_X3Z:N]8Z+E9N8<BES-II95M<XM,ML-VO
MZ.^MS-I^@^MZ2G89;6]SV,<'.J.VP`ZM)`?M=_8=N4US&3]7>KVTN8VRCU+&
M_3#GM++!51CLLKEEWT'4V?\`#?\`"JS;T'*-C[:WLW6V6/O:7.`M8ZZO(JQ[
M7;7>ST&/H_D;_P!Q)3K6]0PJ:#DVW,;2U_IEY.F_=Z7I_P!?U?T:GCY-&34+
MJ'A]9D!PGM\5CGHN8.BLPJ_39>S*^T!K+'L:&^N[*]-F1Z3K6_HW;-WHI7=)
MZE<[$M<6L^S3ZM1NLM]8%V]E=MKJJ?YK^>K_`$?\[^B_F?424[J2YGIO0,Q]
M6%9E-92RMM3[<;<YQ-C*K6.R+9:S]8===5ZE?_`?SMB&SZL]59A^BZYEM@+#
M+[#M<]K;&69#V?9_<^USV[MWZ;_NUZB2GJDESIZ'U879%U=M3+'D/8_<\DV!
MS7>[V;F4NJ]6OTWV96S?^B0;/JSU48/V1M]=VP.KILM>_>VMC!5A/+]EOZPS
M]+9=9LW[W_H[$E/4)+(Z9B93.HY#[2[[/2-M&Z1-ENU^8\;OIU>I6STG_P#"
M7+724I))))2DDE6S^HX'3<=V5GY%>-0WFRQP:/@)^DY)396;U_J_1.E]/L?U
MJ^NK&L:YA8_5U@(]U==;?TECMO[BYNWZY]:Z_8[%^I>";*IVOZQF`UX[?^)K
M/ON_U_0*YTCZA85.6.J]=O=UOJVA]?(UK81J!CXW\VS9^9_X'Z:2G-;F?6WZ
MX-%72V6?5_H)`;]NNDY=[./T#9W5?\9O_P"O_P"#72?5[ZJ=&^KU)9@4_IG_
M`,]E6>ZZP_O66_\`?&?HUKITE*22224I))))2DDDDE,;*V6UNKL:'L>"US3J
M"#R"J5%C\![<3)<74..W&R':\_1QKW?Z3_0V_P"&_P"._G;ZHYO4.C,J?5G9
M6.RMPA[+;&-!']MR2F\DN3/UZ^K72[!3=U:C*Q2=M=C'^K;7_(N]+?ZM?_#_
M`$_]+_I4-W^-/ZKO);@C*ZA8/\'C8[W._P#!?224]@DN(N_QA=9L-;>G?5?.
ML=<2VK[3^@D@;G>S9;[6_P!9";UC_&;G90QAAX/12_\`FSDE]A?^<X564^K4
MZQC?\&DI[Q#NR*,=N^^QE3/WGN#1][ER)^J'UOS9'5?K1>QAYKP:VT1\+F%K
M_P#H+*SOJK]0>G//V^S*Z]U!G..;S;<3,.W-K?CLK_Z]:DIZ?.^OWU/P`?7Z
MI2X@P6TDW&?ZN.+%F'_&51DN#>C=&ZCU(GZ-C*=E9_ZX[>[_`,#53`ZW]5^G
M0<+ZK9-#A^>VC%W_`/;ARO4_Z2U:/K[A.L:RSIF?C5$PZZQE6Q@_??Z.3;9M
M_J5I*:HZQ_C+SY^R=$Q>FL)]MF;=O,>==!;9_P"!J+^B?7[*+3U+ZRT]/:[Z
M5.'2W_H7V^E<MOJG4SF_5_-ROJ_G4G(JJ<^N\1:&EHWN#J]=K]C7;=[5XWZW
MUAZV>HY.>YN;;TMKG/LR*'6F`7^QGMV8S/T?T=M3$E/HX_Q>=,O.[JO7L_J!
M/+;,D!G^;[G?]-7\'_%Y]1J-:.GU7N')L>^[_HVV/9_T5Y$[$S1T!O7/LN-Z
M#G[-GV4_O&N?6V^C^;^\CG(^L70C@7=/<,*WJ=8L8['H=48$.V6-V[,AGO\`
MW;:TE/M^+T#H>&(Q>GXU']2IC?\`J6HV9A5Y&';BMBK>WV/:(VO'NJL;_P`7
M8UKT'H7[1_9&(>IW,R<UU8=;=6W8UV[W,]G_`!9:UROI*>7QKK^IXHZA=AC+
MO]>W'LI?[V8XIWU6;*7D;WOR*OYQK-]G_;:T,-APL[%IJK]&O,J>^[&;]"M]
M>P^I6S_!;_4V6;4)O3G4];RV8V19B/S6C+:6!KF/<-N/D[ZK6O9O9%#_`%&_
MZ?\`X-:>)@-QW.M?8_(R+``^ZR)VC78QK`UE=?\`)8U)3:22224I))))2EE?
M6NST_JQU:S]W#O/_`(&]:JQ?KH8^J76#_P!T[A]['!)3;Z"ST^A].K_<Q:1]
MU;%?5?IS=G3\9G[M-8^YK5824I))))2DDDDE/C'^-G^>Q?\`P[F_]1TY)+_&
MS_/8O_AW-_ZCIR22G__1J?XN?Z!TG_T_7?\`M@Y>P+Q__%S_`$#I/_I^N_\`
M;!R]@24I))))2DDDDE*22224I))))2DR=))37OP,'(TR,:J[_C&-=_U06;=]
M3/JG?/J=(PY/);2QA_\``VL6TDDIY>__`!9_4F\:]-:SSKLL9_U-BK#_`!5?
M56N3B_:L5Q_.JO>#_P!+<NQ224\=_P"-PUA/V?ZP=8H'9K<GVCP_,3_\R.OU
M",;ZU9[8X]4-M_ZIS5V"22GC3]5OKVW^;^MKG:\/PZ__`";TXZ-_C*K^AU_%
MMU_PF,!_U#2NQ224\8<7_&Q7&W,Z3=K^<VUO_4U)A9_C:8"35TBWR!M!_P"J
M:NT224\:,[_&HR`[IO3+/$ML>/\`JK4YZS_C*8"7=`Q;`.`S)`/_`$G%=BDD
MIXW_`)R?XPF-E_U68\S^9EUC\#N2;]:OKV)+_JBYP_DYE8_]%O79))*>.9];
MOKG/O^J%P;XMRZR?N])J7_//ZT__`#I9?_;S?_2:[%))3Q[?KE]9]PW?5/,#
M>Y%K"?\`J`I/^NG76"7?57/@Z:%A_P"IE;_4^N]&Z2SU.I9M.*.PL>`X_P!2
MO^<?_8:N;?\`XQFY[C3]5^E976;.!=M-..#_`"[[1[?[;&)*9_\`/GK7_P`Z
MO4?P_P#(JAU#_&M^S('4.B9.*YQ@,LLK:_X^E_.;?Y>U6?V+_C!ZX9ZOU.OH
MN([G%Z>";2T_FNR7'V/_`*EK_P#BUK=%^HGU:Z.\74XWVG+G<[+RCZUI=_I-
MS_8Q_P#Q;&)*>:ROKW]=>J8F_P"KOU=NJ8_C*R`73/>FHBECO^,WVL6+@]-Z
M[9DMZA]9?J[U#K^</H_:+6-QV?R:L1K',V_R'?HO^"7KZ22GC1]:OK;76QF-
M]3[FUM$!AR:ZPT#Z(:QM3DO^=GUY<#L^J#P?%V97_P"DFKLEE_6/K0Z-TXWL
MK^T9=SVT8.,#!MOL]M-0_P"KL_X-)3R'4O\`&)]:^FOJHR_JXVK)R#&/0,D6
MVOCZ7IX^.Q]KE<QOK)_C'S*_4J^K=5`$?TB[83/[K'%CUN_5[ZOCIK'9N<X9
M76<N'9N8[4D_Z"C_`$6+3]"JMBTL[/Q.GXSLK,L%5+2UKGF3!<0QOT?Y3DB0
M!9T3&,I2$8@RE(U&(UE(GH'E3G?XU'DAG3>F5#L7VO='^98HD_XVK#H.D4@C
M_A3'_GQ;UGUK^KM;F-.?2388!:[<!I/O<R?3_MH^+UWI&9E#$Q,JN^XL-FVL
M[AM:0#[V^W\Y-XX'02'VLIY7F(CBEAR"-<7$82$>$;EYQN#_`(U+/YSJ73*)
M'^#K>\@_]<K2=]7_`/&+;._ZRU4SK%6*P_+WPNR23F%XX?5+ZYN/Z;ZW7$'D
M5XM;#_G"Q(_4#.MUR?K-U5_CZ=OIC[F[EV*22GCO_&MZ!:V,[*S\[Q]?(<9^
M.T-5G&_Q9_4G'XZ:VP^-K['_`/5V;5U"22G+Q?JM]6\0AV-TO$K<.'BEF[_/
M+=Z'4S'JRKJNB75MMI,Y&`=*B3]+9M'ZO9K[_1WU_P"FI6I?4;J7U"QU1>TM
M]2N`YL_G,+@[W+F6T_LKJ+@QEOV7"=9D8^,UU8:RES&,R+WWVGUK/7R;,FS[
M/O\`?=^E24V+\VJ[J5M>1:[IUN1BBBMUD!U3PY[K-A_FG,NWL].]C_TGI[/Y
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M24Y'^++I&,?JIU*S%:UV7FL=0][7&'15^B9#WO:SWWO_`-'_`,6LYGU)ZP:L
MFK'P+,0Y1(R''TW%S";6>FQ]K\O8_:ZJWU<>G&_T:](Z'T<=(QGT?:+,IUCS
M8ZRV`=0&A@V#Z#&CVK124^1G_%]UX]/'3?3M^R`[@R:-TSO_`)_[/Z_TO^%4
MKOJ1U@TT59'3[<MV.PMH>#6TM!V,96Y];\5KMOOM];(HR=_\VO6DDE(<.M]6
M)14\0]E;&N'F&@%&2224YW5_T)Q>H#_M+<!8?^"M_06_YF]EO_6EHH65CLRL
M6[&L$LN8ZMP\G#:4#I&19D=.HLMUN#?3NG_25GTK?_!&)*;B2222E))))*4L
M+Z\F/J?U<_\`=6P?>(6ZL#Z^F/J;U8_]UW#[R`DIVL7^C4_U&_D"*AX_]'J_
MJ-_(B)*4DDDDI22222GQC_&S_/8O_AW-_P"HZ<DE_C9_GL7_`,.YO_4=.224
M_P#_TJG^+G^@=)_]/UW_`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<O8$E.9C=>Q<C
MKV9T-K'MR,*JNY[S&QS;?W-=WL6FN*^MGK?5WZQX?UPJ8ZS!=7]AZNUHDMJ<
M[=3D[1_HW_2_L5_X1=AC9./EX]>3C6-NHN:'UV,,M<T\.:4E)4DDDE*22224
MI))))2DDDDE*22224I))))2DDDDE*223$@"3H`DI=)<CUW_&1T;I]IPNFM/5
MNH[@P4XY'IM<3L:+\K^:9[_;[/45?]B_7WK[=_6.I-Z'B/U^Q=/UN@_FVY<_
M3_XNRRM)3U6=U?I73F[L_,IQ1_PMC6?]65@9/^-#ZF4O-=>:[)LXV456/G^J
M[8VMW^>IX'^+?ZI89]2W$^WWN^G?F.-SG'^4Q_Z'_P`"708^!@XK0W&QZJ`W
M0"MC6Q_FA)3RA_QG83_Z)T?JN5/&S&T_ZLIA_C%RCQ]6>L&-3^KG@+M$DE/&
M-^N'UKZH(Z%]7+F,=H,GJ+A0P>#O1^G:S_B[$Q^K/UYZMKUKKXPJ7#W8O36;
M/[/VE^VW_.]1=HDDIYKIO^+OZJ]/?ZSL7[=DD@NR,UQO>2/SRU_Z'=_4J71L
M8RM@96T,8W1K6B`!Y`*222E))))*4DDDDI2YC%'[:^N61F/]V%]7V_9<8:%I
MR[AZF9=_6HH-5'_7%O=2SJNG=.R<^[^;Q:GW/\PQI?'X+,^I>%;A_5O$.0/U
MK+!S,HGDVY!^TV;OZOJ;$E.XN5_QC9'4\?H5)Z82+K,JJMQ`#O:X6`?S@<W^
M=]-=4JW4NGXW4L&[!RANIO:6NC0C]U[#^:]CO>Q3<KDACSXYSB)PC(&49#BC
M*/7T_I(-UH:+Y'9D=>8^ZMO42]]3&/#O1J:T!U+,G?;O;ZC:W.>ZFI^S\Q:?
MU0ZEUAWUOQ,7[3]JPK:['>IMJ`<UK7M+PZ@?FW-_>5+JOU!^N>)FNIP7.SL>
MTM:S(;8UAVM`KK%OJ/:ZK96QK/;[%W'U-^J-G1&/S.H6C)ZID-#'O&K:V3O]
M"D_RG^^W]]=!SF;D(<K*4/N^6>6'!CCCQXQDXYQX?<EPP_5<'S,<99":)E76
MR:>G2227,LJDDDDE*22224I4^I=,Q^H4.8\`6AI%5Q$ECC]%X_JN]RN))*>:
M&5U/I-C/6;2RC<VH8[20W:/<[['/O<ZMKOM.;EY7L_P7_#+>IR<3+KFFQE]=
MC28:0X%OT3I^ZH=0P:\['-3H:\06/(#H(<VP!S3].ISZV>K7_A%E6EG1F7NJ
MVV]2OV9&=E/80W87-HLOV-/\SCM'\PQ_LK24WM>E$`DGISC`)U-!/C_W5_\`
M;?\`XG^:T56P[;,K$#LFL,L.YEM?+9:36[Z7^#LC>W=^8@8[G8&0W!L).-;_
M`$.PZ[2!+L1[OY/TL?\`X+]'_@O>E.@DDDDI22222E))))*4DDFX24NL[I_Z
M#J&?A\-+VY58_DWC;9_[,T7O_P"N)V=>Z1;DMQ:<EMUSW;0*Y>T$@N:'V5AU
M=>[9[=[DV7^AZQA7\-O;9BN/G'VFK_SQ:DIT4DDDE*22224I<_\`7_\`\1O5
MO^(/Y6KH%@_7S_Q'=7_\+/24[6/_`#%?]1OY$1#Q_P"CU?U&_D1$E*22224I
M))))3XQ_C9_GL7_P[F_]1TY)+_&S_/8O_AW-_P"HZ<DDI__3J?XN?Z!TG_T_
M7?\`M@Y>P+Q__%S_`$#I/_I^N_\`;!R]@24PMJJOJ?3<P656`M>QPEKFG1S7
M-*XJWZO?6+ZIWOROJF1G=*>2^WH=[H+2=7.P;G?1_J?^?UW"22GF.E?XPN@Y
MMOV3.+^D=0;H_$SAZ1G^1:^*W_R?^H73-<U[0YA#FN$APU!"H]4Z%T?K%0JZ
MGAU931]$V-!<W_B[/YRO^PY<V?\`%T_IY+_JSUG+Z1W&.7>O1/?]!:6_YSG)
M*>RXU*'CY./E4MOQK&W4OG;8PAS3!VF'-_E+@^M=5_QA?5WIN1?U-W3L[":P
ML^T!SJ;?<"UL5GTV.M=_HZV/6)_B[^OS.F=$'27]-S,W[*][S9B,%NUECM_O
MKECF>_>DI]<27(5_XU/JAN]/(NNQ+.]=]%@(_K;&O5^GZ_?4V[Z/5L<?UW%G
M_GT,24]`DLFOZV?5>T>SJ^$?_0BL?E>CLZ]T-[=S.HXKFGN+ZR/P>DIOI*B>
MN=%`)/4,4`<DW5_^35#(^O'U5Q\RK$LZGCDW,>\6MM8ZMNR/;;8QY]-[]WZ/
M]])3NI+G;_\`&%]3*`=W5:71VKW/_P#/;7*@?\:7U<MEO3J<WJ3^-F-CN)_\
M$]-)3V*2XL_6?Z\=2]O1_JX<1CA[<GJ-FP#^MC-].W_II?\`,[ZS=9U^L_7'
M^BZ-V!TX>C41^<Q]Q`LM8[^76DIT.M_7WH72K?LE+W=2ZDX[:\'#'JV%W[KR
MSV5_^?/^#6#U/&^L?5^GW]4^MV4>A="I8;']+Q'3=8T<5Y-__"_0]+_P*I=?
MT7ZM=#Z%7Z?2\2O')$/M`W6.C_27/W6N_P`Y9G61^U_K5T[HI]V'@,/4\YO9
MS@?1Z=2[][]+ZN1Z?_!5I*:'U7^I&'MJZCU'#9CM:19@=*&M=`C]'=E[OZ7U
M%S?YRZ_?Z/\`@UVJ222E))BYK8!(&XP)[E.DI22222E))))*4DDDDI22222E
M))))*><^O1]?I6/TH3/5\S'PR&\^FY_K9/\`[+4VKH@```-`.`N;ZO\`K?UV
MZ'AS+<.C*SK&^9%>'0[^RZVU=*DI22222E))))*4DDDDI22222E))))*4DDD
MDI2JYW3L3.8!D5-L<R=A=,:_FNVEN^I\?I:OYNQ6DDE/+X63U'HN195U"SU:
MW?0DLK]3;[LK*HJGV>ID9'Z1^7E,_P`%74MY[,;J>`""33>UME=@T<.+*K6?
MNO8[:]B;J/3<7J%)JO:"8(:=>_YC]I;ZE+]OZ6A_Z*[_``BQ&NMZ+U$F;'4V
MF;ZSNL+@`YK,F1[?MF1:UE./@XM?\Q_4_1)3M]/RK+6/HR8&7C$,O`T#I_F[
MV?\`!WM]W^?5_@U;6=:/6?C]4P/TCF_H[6?1+Z7&+&>Z-MN/9^E9O_X6K_"+
M124I))))2DDDDE*22224\P*G6]5+KWVLI.2RG]"*VT3077XN/M>[[5O:]SWW
MWUU_I/4]'^:8M;KOLZ><H#W8=E>2(YBIS7W`?UZ/5K6;UME>+U>K.>QHFL>D
MYKJZGNL83ZK;7;;,R_\`1>EL9BUV?X3>MIEE'4L#>S=Z.560-S7-.UXCZ%@8
M]J2FP#.HX3JCT6UUO2L5S_IMK%;YYW5_HG_])BO)*4DDDDI2P_KNW=]4>KC_
M`+J6G[F[EN+&^N(GZI]8'_=*_P#\]N24Z>&=V)0[QK8?^B$95.DOW]*PW_O4
M5'[V-5M)2DDDDE*22224^,?XV?Y[%_\`#N;_`-1TY)+_`!L_SV+_`.'<W_J.
MG))*?__4J?XN?Z!TG_T_7?\`M@Y>P+Q__%S_`$#I/_I^N_\`;!R]@24I))))
M2D#.R3AX61EMJ?D&BM]@IJ&Y[RQI?Z53?SK'QM8CI)*?,.H?5'ZT?6RN[K'U
MHO/3\:BNRS#Z73#G,`:7,]298Q[H][_?=_Q*Q/J;]2NKYG1*?K)]7\XXO5:K
M;&"I^E;VM(]H>/WOSV6MLJL7IWUNRNKU](MIZ)57=F6D56/M>UK**WAV_*M]
M1S?HQ_ZL6)_BXP^N]$I=T/J+<>S#V.R<++Q[6O#I=MOJV^VU^U[OYSTOY"2G
M>^KV9F]7Z6']<Z=]CSJ7NIR*+&@L<YL?IJ-V[=39/_J1Z-?]6?JYDSZ_2\2P
MGDFBN?\`.V+3224X+_J)]3W_`$ND8P_JLV_]1M0W?XO?J6[GI5(CPW#_`*EZ
MZ)))3SK?\7OU,:('2:?GN/\`U3UC_6WZH?5KIG3*>J8O3*&LZ=DU7Y3`S=ZF
M/N]+*KL:9WM;7;Z__65W2!FXE.=AWX>0W=3D5NJL;XM>-CORI*:N+T#ZOT-:
M[%Z=BUB`6N936-/ZP:M!K6L:&M`:T<`:!8'U'R[[.AMP,LSF])L?@9/.IH.R
MJSW?Z7']*Q=`DI22222E+G.@--WUF^L>6\R6VX^(SR952V[_`,^93UT:YWZL
M#;U?ZR,F2.H-=\G8^,4E/1))))*>6MNLQNJ%]EWK/IL_29650\,8P^YU."UA
MVNL]/V^I4S^O:]=0"'`$<'4+G>OG/JSVV4V6>BZL.+6"ZPM],^[TL;&8]GJ?
M0_2W/K_T*Z&NQEM;;&&6/`<T^(.H24R22224I))))2DDDDE*22224I))))3S
M?3PW(^OG5[SJ<+"Q<5A\/5==E6M_Z-2Z1<Y]5=MO5OK'E@?3Z@*9\11315_U
M6]=&DI22222E))))*4DDDDI22222E))))*4DDDDI22222E*GF=+QLRVNZPO;
M=1K18QQ!82',>ZO\S<]C_3?[?H*XDDIYWJ5V7@''Q,9MN)@5O%?KUCUKK;B/
M6K#*7;WW8^X/^UO_`)^U_P#UVU;6!D69&'3=<T5W/8#96"#M?'O9I^XY1ZC@
MLSL9U+CL?#O2M'+'.:ZK>WC_``=CV*ET7I#,2Z[)MK;7DD"L5T@LH8P`';C5
M_G;_`/M1?_.6O9_HZJTE.NDDDDI22222E))))*<SKG3;\^AC<=VRP$ASFN-;
MMKA&EU?Z1K66>G=Z;?Y[TE9Z=3?1AUTY#P^YH.Z"7`226L#[/TCVUM]F^Q6+
M`YS'-8[8X@AKXF#V=!6)BV=/JZPS;DW]0S;6NJLM:=]=8:=P;D4XC:\:KW?0
MMLK_`+:2FYTG]%;GXG'HY+GL'\F\-R]W_;UUS/["T5G-_1=?L'`RL9KI\74O
M<W_J<A:*2E))))*4L_ZPU>MT#J543OQ;A'QK>M!`SF>I@Y%?[]3V_>TA)32^
MJ]AM^K72;3R_#QW'YUL6HL/ZD6^K]4.D.';$J9_F-]/_`+XMQ)2DDDDE*222
M24^,?XV?Y[%_\.YO_4=.22_QL_SV+_X=S?\`J.G))*?_U:G^+G^@=)_]/UW_
M`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<O8$E*22224I)),X;FD3$B)'*2G)L&-EV
MVW5YC65O+`0YN@MQK/;[WEO^%;]#_"?X--1A8N/:S,MS_5LIW/#W.$"MYL-C
M-7.=Z;GV_O\`^!I4W_5S`+3LWL=LV`SN$[?2]4M=]*S;]+^HIMZ!@`@G>[W>
MHX$B'/+FVN>[:UOTG,^C_-I*="NQEM;;*W!['@.:X:@@Z@A24*:FTU,J;);6
MT-;/,`0II*4DDDDI22222GF,IW[#^N%.8?;T_P"L#&XUYX#<VH?J;W?^&L?U
M*/Z]5:Z=9_7NCU=:Z5?TZQQK-H!JN;HZNUIWT7,C\ZJUK7*M]5^LW=3P'59H
M%?5<!_V;J-/$6M_PK/\`@<EOZ:ER2G922224I<WTB,?ZZ]=QITRJ<3,:WSVV
M8MKO_`:ETBYOJ@^Q?77H^<!#,^C(Z?:[MN&W-Q1_:]*])3TB2222G)^LC'G"
M8YNXCU&M>UI=)#_9'I,MQF7^_9^CNN]-3^KUS;L`Q>[(%;RP.+:VAK='U5UM
MQQLV,I?7_P`)_I%/KK,A_3W,IH;DAQBVES=^YD'Z-9+=_P"D]/\`L+*^KO46
MLO\`L0]0UO8TU5D5O+7B?M+MV"S[-30V:O\`"_SG^C24]*DDDDI22222E)))
M)*4DDDDI22222GG/J-#^G9^0.,GJ>;:#Y>L]@_ZA=&N9_P`7)W?5##N_T[\B
MW_/ON<NF24I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*2222
M4I))))2DDDDE*22224I863@]5LOL;7O;+C]GM9>:::F<M=]FHA]]O^D;?O99
M_P`6MU))3G=0'I]1Z;D?\)9CN/@+:W6?^?<:IBT5G=?]O377]\6RK($?\%8R
MUW_0:M%)2DDDDE*3$`@@\'0ITDE/-_XO"1]4\6EWTL>S(I/_`%O(O8W_`*&U
M=(N:^I!].CJ^(=#B]6RVAO@U[Q?7_G-M72I*4DDDDI22222GQC_&S_/8O_AW
M-_ZCIR27^-G^>Q?_``[F_P#4=.224__6J?XN?Z!TG_T_7?\`M@Y>P+Q__%S_
M`$#I/_I^N_\`;!R]@24I))))2DDDDE*22224I))))2DDDDE*22224I<U]8L+
M*Z;GM^M72JG774L%74\.OG(Q@=V^MGT79>'_`#E/^DK_`$*Z5))37P,[$ZCA
MU9N'8+L:]H?78W@@JPN2SF7_`%0S;.JXK'6_5[*?OZEBL$NQ;'?2ZCC5M_[3
M/_[64L^A_/L754W57U,NI>+*K&A];VF6N:1+7-<DIFN>^O5%AZ`_/H;NR>DV
M5]0I^..[U+6Z?OX_K5KH5"VNNVM]5C0ZNQI:]IX+2-KFE)2V/D59./5DTNW5
M7,;96[Q:\;V._P`THBYSZD6/HP,GH5SBZ_H=[L271+J?Y[!MT_>QK&,_ZVNC
M24I8]U_3\'-??;;?DY+-M==#07!OV@RRFBIC65[W>E^=^D]-BV%SOU@I;7GT
M6UG:^Z7>\N-?JUCTJ+754UOLWU^O_I\:G^;_`$F_TTE.]1?5D45WTG=7:T/8
M[Q:X;FHBJ=*V_LW&#2PM%;0/3::V@`;=K:K'665[/H[7O5M)2DDDDE*22224
MI))))2E"YVVE[O!I/W!30<LD8EQ'(K=^0I*</_%ZT-^I?20!'Z&?O<]RZ)8'
MU"_\1W2?_"[?XK?24I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDD
MDE*22224I))))2DDDDE*22224I))))37SZ#DX.1CCFVI[!\7-+0H]+O^T]-Q
M;YGU:6.GXM"M+.Z%[,`T<?9KKZ0/!K+;!3_X!Z22G122224I))))3S?0#Z'U
MH^L>(1`?;C9;/,6TBIQ_[=QGKI%S;B<7_&"V3#.I=,(CQLQK=P_\!R7KI$E*
M22224I))))3XQ_C9_GL7_P`.YO\`U'3DDO\`&S_/8O\`X=S?^HZ<DDI__]>I
M_BY_H'2?_3]=_P"V#E[`O'_\7/\`0.D_^GZ[_P!L'+V!)2DDDDE*22224I))
M))2DDDDE*22224I))))2DDDDE+.:US2UP#FN$$'4$%<FUSOJ9G,I=)^K.=9M
MI<9(P;WG2IW[O3\A_P#-_P#<>U=:J^?CX>5AW8^<UK\6UA9<VR`TM.AW2DIL
M)+E/JEUBNC.R/JI?F-S+<%HLP,D.#G6XI^A7:YO_`&IQ/YJS_25_I5U:2GF.
MH_Y'^N.%U(';B=:8.GY79HR*]UO3[7?RK6^MC?\`;:Z=97UGZ0[K'1,G"J=Z
M>3`MQ+`8++ZCZV,_=^;^E8I_5[JPZQT?&S]NRVQNV^LZ%ES#Z>141_P=S'I*
M=)97UDQZ;NG%]K`_T7-=!+QHX^F]NREU;[MS7_T?U/3ML]-:JA;57=6ZJUH?
M6\%KV.$@@]BDIROJS<^S$L8]S@:G[1CNK96*FP-M36TNN_M>I?;8MA<^WJCN
MGY/V6OI]>%C[ZWV[[&"QXOL-'JUTT>HVRSUOYS=<N@24I))))2DDDDE*2222
M4I"R1.-:#W8[\B*F<-S2T]Q"2G`^H)!^IO28_P"X[?RE=`N:_P`7#B[ZE=+W
M:%M;VD?U;;6?]]6MU[JK.C=&S.J/9Z@Q*G6"N8W.'T&;M=NYZ2F^DN?Z?E_6
M7&8,[KEF$>G''=?D/I:^MV.6M%FW](^[[35MW^_]"HU_7CI9INNOQ\K%95C'
M-K]>H--V.TM:Z_'A[MWTV?H[/3N]_P#-I*>B27-GZ]=-9=;5;B9M1Q[::LAS
MZ@&UC)@8E]CO4_FKGOV>W]+_`,&AT?7>H?;OMF)=6['SC@8M;0TNN>&^I[2^
MQE;7[6OLL]1]=;*_3]Z2GJ$ES[OKKTQU&-9BT9.9;E"UPQ:*PZUC<=WI93KF
M.>QC?1M_1_3_`$K_`.9]14;OKS]CZOU"O+QK7=-Q*,6]ME51]2MMX+K'YGJ/
M;L:SV>QM?JI*>N26-]:<WJN#T:_J?2K:&G$JLR+&Y%;K`]K&&QK*_3MH]-SH
M^DJ%/UHR>G8&%9UIS<S-ZFWUL7'P:MA%8K;==O\`M606?HMWT_59O^AZ:2GJ
M$ER1^O>(SJ5MKGM/16]-JSZK6M/JN?;:<9E4.=^=]#T]G\ZKK/KITQ^,;&T9
M#LH9`Q/L#6-=>;BS[0U@V6.HV>A^E];U_224]`DL*[ZWX=;,<-P\RS*R:[+O
ML+:OT]==3O2NMOK>]C6,;9[6^_\`3?X'U$')^OG1:*A?77D9-'V:O-?;37N:
MRBUSJFVV[G,<STW5O]2O^<24]&DN>_YZ],:V_P!;'RJ;<>^G&=2^L>HYV2)Q
M+*VM>[=7?_VY_P`&GP?KIT_-R:<<8N70;LBS#+[JPUC,FH.L?BV/;8_])LK?
M_-^I5_PB2GH$EAX_UPZ3D8^#D5BW9U*G(R,<%HG9B@&_U/=[7>[V*G9]><&[
M"R+,>N_&>,%_4,6[(IFNRID;K*V,M:ZSTW.9NKWTI*>H26&WZU8OVQN$S'R<
ME[/1;E9%%)=54^]K;*FV^[U/<Q[7O]-MOH_X5!R_KGB8^5?A?9,G[375?9CM
M<UK1<<9N^UM?Z3U6?R'75U>I_@TE/1)+E<7ZY,+,7*Z@?LE%G2CU*^@U$N$.
MK8ZRNYMKOT3O4_0T^CZMG_01W?7GI=-&1;F8^7AV8HJ>_'NJ`M-=[_0Q[ZV,
M>]KZW6^QWO\`4K24]&DN<M^O/2J*K77TY%-].2S#=C6-8Q_JVL]>CW/M^SLK
MMJ]V^R]BT;>MTU]"NZT^JVNJFFR]U-@#;(K#G%L`O;[MGYK]B2G227.=(S/K
M78W%ZCU$X1Z;E5&^ZNL/99CM+?5J_2N?:S*_<N]E*5'UYZ3;6ZYU.510<>W+
MQK;:MK<BF@>I?9B^[=]#W[+6U>Q)3T:2YUOUUQ'LQRSI^>ZW-KLNQ:/2:'OK
MK%;G7;3;[*W^LST_46QTWJ.)U3`HZAANWX^2P/K<1!@_O-_-<U)3:6=TR&9W
M4Z/^';<!Y655C_JZGK16=5^CZ_>T<78M;_B6/MK/_1>Q)3HI)))*4DDDDIYG
MZU@8W5_JYU7@4YQQ'N\&9=;Z?=_)]5E2Z987UWQ;,GZKYWHSZ^.P95,<[\=S
M<IG_`)Z6M@9=6=@X^;29JR:F6L/\E[18W_JDE)TDDDE*22224^,?XV?Y[%_\
M.YO_`%'3DDO\;/\`/8O_`(=S?^HZ<DDI_]"I_BY_H'2?_3]=_P"V#E[`O'_\
M7/\`0.D_^GZ[_P!L'+V!)2DDDDE*22224I))))2DDDDE*22224I))))2DDDD
ME*53JF-]JP+J1HXMECMK'D.'N:YC,C]!O_<]7V*VF<UKVECA+7`@@]P4E/`/
MQ<SJ.,<CI3,9F9T=QR\(MW'(ML$>M5<X?H;*<RCU*K/3OO\`\"NSZ-U7%ZST
MO&ZGBF:<I@>`8EI_/J?'Y]3_`-&]8O2K#B]<?B-I<3N=4Y[C8_;4P.]+]([;
MCLL<RO&_F_YRFRC\_'2Z-_D;ZSYW0B-N'U`'J73_``#R=O4<9O\`UTLR65_\
M*DIZ=<SA?Y#^MF1@'VX/7IR\3]UN76`W.H_]"*A7E?\`;RZ98OULZ3?U+I).
M&=O4<%[<O`?X7T^]C/ZMS=]#_P#C$E.TDJ/1>JT=8Z7C=2HT9D,#BP\L>/;;
M2_\`ETVM?6]7DE/-]7Q\F[K='K6S161Z-+6-%Q+]K7OQKJFVY5;*&[G77?H5
MTBYKZUU]/NLJ&0YS;:X#:_0:]MH<98Q^38S;7379[[/UBMG^E6_AW"_%JN#V
M6%[`2ZMP>PF/=L>(W-W)*3))))*4DDDDI22222E))))*>;^H+?3Z`[&_[BYF
M93'AMR+=/^DMW.PL;J&'=A9;/4Q\ACJ[6>+7#:5A_5`&G(Z]AG_`]4NL;\,A
MM67_`-5<NC24\]B_4ZEI+>H9^5U*AN._$HHO<T-938WT[&N]%E3K[75^SUK]
M]B!_S$Q[,:ZC,ZAE9F[$=@8S[?3FBAVW<VOTZV>K:[TZ]UU_J6>Q=0L+ZP79
MS^H8'3\6NQ[+VW6V>G=]G!-0K#&69#`^YC/TV_\`0L^G_P`%ZB2E9GU2P\LY
MI??8W[>[$=9&WVG"<U]6S3_";/TB!E_4C$R7Y+SE6M]?+'4*6EM;VU7[33<6
MMMK?ZM=];O?5=_UM963U/J.5BBS"LRK#B8+;;'FQK'4V"RUK[\EM45=1]F/9
M^CK_`-#_`-V5T/7G95V#C-PK@'WV-_1"PT/O9M=8^C'R![J;7-;ZO]2OT_9]
M-)34=]3*V4XGV/J&1B9F(RVK[94*M[Z[W>K?6ZLU>@S](W=5Z5;/23Y'U+PK
MV=28_)O=^U,:G$N>]P>\-H!:VWU'@N?=9N_2.L0L3JF1CQT[&;<,V[*]+T>H
M.]3[.#4[*_GJ7V/RJ7LJ?Z'Z?\_^<5S"Z[D7VOHNJ8VVBO)]8L)+39C6,I_1
MS_@K/4W_`/!_S:2F_P!1Z;5U#I61TRQ[F59-+J'/;&X->WTRYL^W<LOJ?U/P
M^H4].;ZSZ<CI=9IHO#:[)8YC:;&V4WLLI=NV,?\`0_1O66WK/7,S;?796SUK
M^G&FD;FM:+V>I=78]LNLK]W]M=#T[J.1DX66[)-=%^';;19:V37-8W"_:_W-
M9M=[F;DE.9E?4+I64VQMUUQ;9A58/YH(]&S[55DZ,V^MZWN^CZ/_``:FWZF5
M,PVU,SKF9E63]KIS:V4L<RS::-K,>NIN-Z/HO>STWU*I@Y>1TMU-_4CE;W56
M.-S;QDXN6YE;\G=4U[M^)8]E5EU#&4T5[/T2)3]:^IV8MEOV,>HZJNZC>RRE
MDV654>@^RX?I?Y_?Z]+=G_!I*;-WU1+QCW5=4RZNH4UV469Q++++:[7>M;58
MV^NRIK6V?S'I,9]G_P`&F=]2.EC#R,*FRRFC(P:^G;1!+:ZG6V"T%P]USW9#
M]Z,>M9U-_P"S<FJL]0?96*_3+A6ZES#;=DMW'U/T'HY%?_&>C_I$#IO6>HY6
M/5]EKJ;5CX]%V0<FQY<[U@YVRNX_1].MG\]=O]1Z2DV1]4L3(S+,MU]@?;=B
M9!:-L!V$(I;Q]&S_``BE3]5L2FRM[;K":^I7=5`,?SES;6/IX_FF_:';4#I/
MUGR>HYU31BO&'DOM96_T[&[!5OVV67O_`$%WK>E]"G^;_P"$57K5]PZUG%]6
M?D8^+B46AF%?Z6PN=D^J]U?KT>HYS:V?1]3^;24EP?J)BX;J`W.R+*,.K)HP
MZ'^GMKKRA%C`YM;;+-GYK['HC_J1@OPJ<,Y%H91TZWI;7>V37;Z>ZT^W^=;Z
M*'A=6ZPW!JII?CY=V-@LS;\FQ[BRUMAM]"NFZIK6;O3Q_P!-E;?^LI[OK7:+
MZ+**V68MMN+2]@;8ZQOVKT1-M[0,:BRK[2S]7_26?\7ZB2FP?JHUN><O&ZAE
M8M=IH?EX]):UMSL=K:JG.LV>O7OKJK9>RJW9<JN-]0\*C,&3]KN>UKLHMK(K
M&F8"V_U+6UBZYS-WZ%]K_8B8G4^IYW4NEY#ME6!E')+*F.<+(8V*OM#7>RSZ
M/J?\"M3KQR/V9:W%O9C7O+&5O>[8"7/:WT6VP[TK+_YFJW;^CL>DIRF?4?"=
M171EY5V4VOI[^ER[8T^@Y[+:S^C8W]+3Z-;&/_[<4;OJ-1ET9#>H9^3F962*
M&'+L%8>VK'L^TTT,956RK:ZWW6OV>H]1Q.I6]-M?COKR:;WV8S3B9=HO:UMU
MGV9^3BY8?;8_=_H['_39_->]3R^NY=MV=34T568=F5338'.(_1XU66VRRKZ+
M_?<DIL9OU2Q\JWJ%S<FRIW4K:;KF[:[*_P!#6,;TGTWUV5VTV,'O99^>K72O
MJ[@=,Z-^QF`W8KA8+19$.]4N=:-C`VNMGO\`YNMNQ8S?K5U&D,I^SG)?BT8[
M\IS*K'>HZYC;7>G:S=5C[*W?2O\`IO\`]&MCKSJ&5569&1?76'$-QL8EMM]A
M'Z*FMU1;=[?<_8QW_&_HF)*:6#]3J<:^@W]0RLS$PF/JPL*US176RQOI;7^D
MRNS)V5?HZOM#[/30:_J'B"HT7YV3DT58UV%@5V>G&-5D-]&WTG,K8^VSTOT;
M++_40^I,ZQC]$&3;E6NZCAX[7W,JM:T4@%UEF;D5LV_;7-I9L=5_-W^G9Z/T
MU/(S,MKW]4KOL>\=2HQ*Z`XBKT+'4U.:ZCZ.]S;WY/J_SO\`UM)3+J/U9S[N
MJ=)=@Y5F)C]/P[L9V57Z9LEPH94#5<RQC][:G_F+4Z/T.KH]5&-B7V?8L?';
M0S&=M+=P<ZQV4YX:+/7MW^_W>G_(6FDDI2SLGV=<P7]K*<BH_&:+F?\`1KN6
MBL[JOMR>FW?Z/*VGX657T1_GV,24Z*2222E))))*8O8VQCF/&YK@6N!X(.A"
MY[ZBN?3TBWI%I+K>C9-V$2[DL8[U,5_]K%MI71KFJ3^SOKW?3]&CKF(V]GGD
M8A]&T1^\_%NJ=_UI)3TJ2222E))))*?&/\;/\]B_^'<W_J.G))?XV?Y[%_\`
M#N;_`-1TY))3_]&I_BY_H'2?_3]=_P"V#E[`O'_\7/\`0.D_^GZ[_P!L'+V!
M)2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224\UUW%>.HNLKA[
MG,;>7MK8;JFTGW.HR<JQE-+7._P;:K/\(H?6UCJ^D8/UAQ]UN1T5[,L/@![\
M=P%>?6[1K6^KC.]3^O6M#ZSXQOZ=N94;7UN!VLJ]:P@^US*M?T6[V^I;^D]B
M)TV[&SNFMP<@L?8ZDLOQ_>#L_FG;F9,9&W;[/4?]-)3HU6UW5,MJ<'UV-#F.
M'!:X;FN"FN=^H]MC.CNZ5>2Z_HM]F`\G0EE1G%?_`&\1]"Z))3R^%'U?^M-O
M3C[>G==+LK"YVLRVB<W&_=;]I9^M5?R_674+)^LW1G=8Z4ZBEWI9M#FY&!?W
MKR*COI?_`&OYJS_@K%/ZN]99UKI569M]*\35ET'FJ^L^GD4N_J6#_,24Z:;C
MA.DDI22222E))))*4DDDDI222I=6.S!?9ZM]36:G[,`ZU_YHJ9N99]-SOS/\
M])3D=+C%^N_6L7@9N-BYK&^)9ZF'<X?YE"Z1>?X=>9T_ZU]'ZED-<&953^EY
M=S[Q?OR'-=E-]-P<_;4Y^/\`1_1?I/\`!+T!)2E6S.GX><UK<JO?Z9W,<"6N
M:2-I++*RRQFYKMOM<K*22G/LZ#T>P5-=BL#:6"IC6RUOICZ-+V5EK;:O^#M]
MBL9O3\//H^SY=3;J@X.:T_FN;JQ['-AU;V?OL5A))3G5]'Z*ZBS%KJ:YC;?4
ML(>XV"T`?I'W[_7;=L_.]3?L3?L3HF3C4L;0Q]%;7BHL<8+;3-[7/K=^F9>[
MW7>IO]7\]<WC&_#ZAU%M+7@];S;\3>`?9:QPV7_R?U)^0_=_W5K5<YO4>G8F
M+@X=C<+#HQK'8SG6"D.M9=?6*OTE.1]H]*IM/ZLSWV>JDIZ^KH_2&6!]6/6'
MT^DP;?S?0$XPVSMW4M?^C1ZJL''=;76&,=?87VLD2Y[QJ7-/YUC6+G+.HYO3
MGY74W-<]@R*V9=+&D[G6XF(RA]8^G[,WTZO^+M_X-*S[:.H8=&6[U;:KL4V6
M!H$O=CYWK'<T?0W_`$?W$E.UA="Z+BN9=B8[&@-(J@ES&M?](45N<ZJIC_\`
M@6IZ>@](QVN;5C-:TAK8)<X!M;A;577O<[TJJ[&[_2K_`$:Y)G5>LX]>+13:
MS'%&+AC#JLLV"W?6SU9QO0MNR]S_`-#LJL_0KMAD4W5W"E[7FHNKLVF=KP/<
MQW\KW)*8.IZ=;?5U!PK==L--.1(DML+2ZJM_YWJ.8U"?T+I+_2!QFQ0UK*V@
MD-V,.ZJM[&NVVLK=]!EN]<;CX^3T[IWU?Q&UO?@9>7AWTZ3Z%T^ID8[_`,YE
M%W\]3_HK/6K_`-&K6!U7ZQ9=CV-O8,JVK(=;C^H'NJ?7/V=K<9E#'8NVP-I_
M37?I]_\`A$E/54='Z;CY1RZ:`RXES@03`=9_//KK)]*M]O\`A'UL]Z,RG$&7
M;>P-^U/8QES@?=L;O=2U_P#VY;L7-=+ZWU7/ZI6P.<,7J#QEXTLCT\6@.HR*
M72WZ5^572_W^_P!/*_D*[]9<6ZM^/G8-IQ\JZRO!NL8)+J;WBLF/]+C.=ZV/
M9_@O?^^DIN?L+H=U+&,QZW4U[VM:QQ#8<XOMI=Z;O?5ZO^`?^B_D*5W1>C.N
M]>ZA@>^QEFI(:;6;?0M]+=Z7KM].O99L]1874\A_2W9.'1D.Z?5T_$K=TC'K
M@_:+(MWUN8]CWY3O4953Z3/])ZG^$0LYW6KL>_+#S?DLZG15B85A#*&;7T/&
MZQE;K?YUUGZ7_1I*>C'0>E-O.2R@,O(L#7@GV^K_`#_I,)].OU?\)L9[T5W3
ML`]/9TN]C;L4L%(JM]VX-&@]WTG;6;E6Z)U!EV)15D7E^>]KW75V@,L#ZW!F
M4WTF_1KHM>VO^IZ:K=9Q&'K_`$/+A[K!DV,Y<6-;]FRB8K_FV[W?X1)3;'1.
MBUU6XYI:1>&NMWO<YY%1FIWJV/=<WT'_`,WM?^B2Q.F=#;+<6NIQ)>]\.WDF
MQK:;7V$N<Y[K*VM8]SU1;AU,^NMEFUS_`+1TYWJEY<YO\\QOIM:^6,9M_P`&
MQ5L7'NKQ\_K'2\)AR\FTXN*RIM=9KQJK/0-C=WI,>YUC;LOWO_2?HJTE.H[H
MWU>8*R^JMK:0VELO(!%1W5TVC?MN]!WT&7>IZ:L9?3.F=3--V16+S3N]&QKG
M#;N]MFQ]3F_2^BN:PF"OH.;0.GFNX9SZL,98KM/K9%OI>O\`2NW.K?;ZMO[Z
MZGIV!C=-PJ<'%8*Z*&[6M`CS<[3\Y[_>Y)2"SH'2+0P68X?Z;=@W.<99._T[
MO=^GKW_X._U$0])Z<[,&<:&_:00X/DQN`]-MGISZ7JMK_1^KL]38KB22E)))
M)*4L[KHC#JM/%.3CV'X"VM:*SOK`W=T;*/[C-_\`F$6_]\24Z*29IW-!'<2G
M24I))))3"RVJII?:]M;1RYQ`&NG+ESWUU'V7&P>NM'NZ/EUW6.`D_9[?U7,'
M_;5WJ?\`6E'K-#&]5!N<U]5I&0YI8^UQ].JW&JQW5AOH>D^VWUJVV6U[[/4V
M?I%JV=,Q\SH!Z4YYMHOQ?L_JGES75^F+?ZWYZ2G0!!$C4%.L3ZF9MN9]6L%V
M1/VFAGV;)!Y%N.3C6[OY6ZI;:2E))))*?&/\;/\`/8O_`(=S?^HZ<DE_C9_G
ML7_P[F_]1TY))3__TJG^+G^@=)_]/UW_`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<
MO8$E*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))36ZAC#+PKL=
MQ(%C2/;J?'Q;_P!4LKZNGTLO+QWX[<>UX9:16*V-$#TMCJ:+<AU=OT7?I;/T
MG]A;RYFD-PNL`>U]--QJ;JQEV_(]_P!&'W9E;/4^EOJ_TGZ;TDE+TC]G?7RZ
ML#;1US#;<//(Q#Z5NG\K%OJ_S%TJYOZZD8=?3.N<?LO-J=:[PHO/V+*_Z%V_
M^PND24I<MDS]7?K2S,:(Z5]8'-IR?"K.`VXU_P#);FUM]"S_`(;TUU*H=<Z3
M5UGI61TZUQK]9OZ.UNCF6-/J4W,_E56M8])3?26+]5>KW]2Z::\X>GU3`><7
MJ%?A=7IZK?\`@LAFV^K^NMI)2DDDDE*22224I))))2D+*H&3C6XY<6BUCF%S
M="-PVR$5))3P74,>S+Z'F78WH#-I;5G8-588Q^["=Z[-^%5ZGI6O;OKMWW>I
M_@?T>Q=KT[.HZC@8^?CF:<JMMM?P>`_5<YF--?7Q4YCGU>NU[*V.=42Y\.TJ
MQ&,9;7KD666YC[=_HW?S2+]47'IN5U'ZKV:#I]GKX$]\/()MJ#-7;OLUWJX_
M_;:2GIDDDDE*22224I,6M,2`8,B?%.DDI2%E9-.)COR+SMKK$N/)^`_E._-1
M5F?6#3#IM<)JIR<>RX?R&V,+G'^37_.)*2?M?I_VP8I+O5#Q5O\`3>6-L<W?
MZ!R-OHLN]/\`,WJ.!U;I61:^K%<6EX=<'.8YC;&M(KMNILL:UES&NV>^M8M'
M2NHT=3<*VY/K.Z@_*&5ZGZL<6P^I;2ZGU`S=_@MGH>IZNR_U%:PJ<W*ZU7EW
M8=F*UE%E&8R]S;*I)9Z3<#W.]C]F^U[&5>HS9ZWZ5)3IT]:Z9D8[LJBX6X]=
MWV=]K-6"P.%?TOW/4=M]3Z")FY^)@;'73ZE[ME==;'/L>X`NAE=37/?L8W<L
M6_$NQN@]=J?7L.3;D?9F"/=ZK64XVS;^_;[6*WUC%R?1P<BL7/RL1VMV.&.>
M-S#7;./?[+Z[/SO\(S^=24GL^L'2ZZJKA8^QMK'6@55O>YM;#MMLMKK8Y]+:
MG^RSU/\`")W]>Z8S(]`V.<06-=8UCW5,=;!H9;>UOI5OMWLV[W_GL7--Z#U'
M%_2V59=YR:+0QE%P:ZK)???EU/R'UV4-=_2?I_I,>NQEG_!J_9^UK\VC#ZAA
MWOP\;T'66XXKV9.0`QS[KG.MKLKQ,>[_``7I[[7U_P"C_1I*=[,S*,1K++FV
M.!,-]*I]I!CN*&6.8J?_`#EZ0:*KVV/=7<QUS2VJPD5-.Q^1:ST]]-#7?X6Q
M1ZGC=5?TZ[&%OVA^597475,%1KHL>UF2_P"F_=LQS9[U6ZGAY.-E7.Q,1U].
M5@C"I;5M`K>PV^GZF]S=E#F7_P`Y^9Z:2F_9U7I+,]E3G3>-M8N#'.8TW;75
MTOR&M]*M]_Z/:QS_`/1?\&IX_6>GY.5]EJL)>2]K'%C@Q[JCMO93<YOI6OI=
M_.>F]83NE=0KQW]%]&Q[;LC$N9FMV^F&4-Q/7]4N=O;8UV"_8S9^D]6K_A$;
M`P,[[1TW$MQWU-Z5??=9D';Z=C7MR*:/1AQ>]UC<KU+/;^BV)*>E22224LG2
M224I))))2DDDDE*5/K##9TC.K;R_'M:/B6.5Q0M8+*GUGA[2T_,0DIAAO]3$
MH>/SZVN^\`HRH]"L]7HG3[/W\6EWWUL*O)*4DDDDIYWZST#(OHKNQK+,<`3=
M2QUA$D^JU]?]&VMV4._6O9_.6?X-7^@Y[,O#-9L:^_&<:[&M+"6@%WH>I]F=
M92Q[Z-CW,8Y6NHXC<S"MQW?GC2>)'N9](/;])OYS'K'^K;LZRU[[AZ=0W&L3
MO]1CMK6VRW[/73N]/<QGV&C>DIA]6_U/K_U@Z3&UOKU]0H'8MRF?IMO]7)HM
MW?\`&+I%S6=&']?.FY$P.IX5^&[P+J',S*?[>RR]=*DI22222GQC_&S_`#V+
M_P"'<W_J.G))?XV?Y[%_\.YO_4=.224__].I_BY_H'2?_3]=_P"V#E[`O'_\
M7/\`0.D_^GZ[_P!L'+V!)2DDDDE*22224I))))2DDDDE*22224I))))2DDDD
ME*22224I8_6.BV]0S,>ZJTXXJ!]2QI@F/H4[6;+',LW_`*3]/^9_PBV%G=<8
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M/-E<;L/+Y=[<FC_P1EB2GH$DDDE*22224I))))2DDDDE-?+R+*`TU8[\E[Y`
M%98(C]]]SZVM7+=:NR\)V%]9[Q5]KZ2\X_5:\=V_]3O+=WJ>S>VW&=Z67Z7_
M`!GZ1=#UQK?V>ZXN+3C.;>SVAXW,,LWUN<QKF;O^$9_I%F=-97;E9O3LNM^7
M5>UV-=D6/%C7@-];[/Z3&_H:G,S;MN^RS_1)*>B:YKVAS2'-<)!'!!3KG/J9
MDVUXV3T#*>7Y?0[?LQ<X^Y^.X>IT^\_U\;V?]:71I*4DDDDI22222E*+V->T
ML>`YC@0YI$@@\@A2224L```!H!P$Z222F+F,?&]H=M(<V1,$<."DDDDI2222
M2E))))*4DDDDI22222E))))*4DDDDI22222E))))*<[ZO:=#P6_NTL;_`)HV
M?]]6BL[ZO_\`(^-Y!P_Z3EHI*4DDDDI2Y;'<W"ZZRH-#]EEK7/8P,M=ZAI]^
M2_?8_)K:_*KV?HZ?YKU?\"NI69U>W/Q*W9>#10XM:/7NLW%X8'>[;34UKKO3
M8Y]G](K24YWUR)HLZ)U$0/LG4Z6O)_<R`_"L_P#/ZZ1<;]:+\C/^H?4<@O;;
M;BN]6G(K:6L>,>YES+JV2_V;6?OKKZK&VU,M;]%[0X?`B4E,TDDDE/C'^-G^
M>Q?_``[F_P#4=.22_P`;/\]B_P#AW-_ZCIR22G__U*G^+G^@=)_]/UW_`+8.
M7L"\?_Q<_P!`Z3_Z?KO_`&P<O8$E*22224I))))2DDDDE*22224I))))2DDD
MDE*22224I))))2D/)I;D8]M#B6BUCF$M,$;AMEI_>1$DE/+?5Y^1C=1=B$,L
M-C?THEM)K:POV&O$?9?F75.<][:[;O2_1_R$3I`.+]=^NXWYN;1BYM;?`@68
M=Q_M.I8BY&/TGIO56Y.1E%MMCS97BL9NL>Y\MKGTF69-VQS\CTO^-]/_``:K
M')HM^NO2LZDD,ZAT_)IAS2UTTV57!KV/AS7LWV^QR2GJ4DDDE*7,?6".C==P
M/K&WVXUY;T[JGAZ=COU+)=KM_5\D^F]_^CO73JIU;IN/U7IN3T[)$TY5;JW>
M(W#VO;_*K=[V)*;:2P_J=U&_-Z*RG,,]0Z<]V#FSSZM'L]3AO\]7Z=__`%Q;
MB2E))))*4DDDDI22222EG-#@6N`((@@Z@@J%-%&/6*J*VU5MX8QH:T3_`"6H
MB22GFNJ#]E_7#IO4F^VCJK'=-RNP]1H=DX#_`.ON;?1_;72K`^O.-9=]6LJ^
MC^D=/+,Z@^#\9[<G3^M778Q;6+D,RL:G)KU9>QMC?@X;Q^5)25))))2DDDDE
M*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))
M,2`"3H!J4E.?]7_^1L4^+2?O<YRT5G?5X$=!Z=NT<<:ISAYN8USORK124I))
M))2EG=?%O[,M=5D'$+-77AVP,;PZQWM<YWI_SGI,_G7_`*-:*!FN<W&L+666
M$B"VD@60?:75[BWWL^FDIYY]%63]3>K8]3_5LLQLAAL>9>YWI.]*R^OU+O2M
M=[';/T?_`!57T%K?5O(&5]7NF9`U]7%I=][&K.Z%2]E.7BN9D546-<*Z\FHB
MP_2:^Z[*9352]]O^C]6^S^6B_4.SU/J=TAWAC,;_`)OL_P"^I*=Y))))3XQ_
MC9_GL7_P[F_]1TY)+_&S_/8O_AW-_P"HZ<DDI__5J?XN?Z!TG_T_7?\`M@Y>
MP+Q__%S_`$#I/_I^N_\`;!R]@24I)4&==Z6_J]O11>!U"EC;74.D$M=J#67>
MVS^7L5])2DDDDE*26<_KO3V==KZ"YSOMUN.<IK8]NP.]/Z?[_M?_`)BT4E*2
M2224I))))2DDDDE*22224I))))2DDDDE.5]9+S1TUSFX[\BQ[F"MM+VUV>H'
M;Z/2=9NW6^JW]&ST[/\`A/T2P;JWT=1^J]UA]WVS*8Z=VZ;J+G6-N]1M?Z3U
MV^[]%57^Y6NFZQ3D7=/M9C;S>!-;:WMK<XC\QMU@=Z6_Z.]<EFV6MKZ!3<T-
MOQ.L4UV-8&-:SU&7CTV_9[+F>V?TFY_J_P"D24]TDDDDI22222GF:@.E?7FQ
M@.W'^L&/ZH!.GVK$]EFT?\+B/8__`*RNF7-?7D_9</`ZRT[7=*SL>U[O^"M=
M]CR&?VZ\A=*DI22222E))))*4DDDDI22222D>32V_'MH>);:QS'`^#AM6)]0
M[W6_5/I[7B'XS'8KAYX[WXG_`*)6^N9^HQ+*.L89XP^K9=;/ZKG,R6_^?TE/
M3))))*4DDDDI22222E))))*4DDDDI22222E))))*4DDDDI22222E))))*4DD
MDDI22@^VJL38]K!S[B!^55[.K=*JGU<W'9'.ZU@_*Y)3;57JMIHZ9EW#FNBQ
MP^(:Z%6L^L_U;KG?U7#;`DS?7Q_GK)ZW]<?JK;@G'KZMBN-[ZZW;;6NAA>SU
M7.VS[6U[DE/18-7HX6/3_HZF,_S6AJ.L`_7SZG-,'JV-\G2/^B$-W^,3ZEM!
MGJM1CP#SQX0Q)3T:2Y?_`,<WZD_^63?^V[/_`$F@G_&K]1P2/M[C&FE-T?\`
MGI)3UR2Y`_XU_J0.,UY^%%O\:TW_`(['U(_[F6?]LV_^024]>1((\5SO^+TQ
M]4\2OCTGY%0'E7?=7_WU4V_XU?J6\PS*M<?`46G_`-%K&^JO^,3ZL],Z0,2]
M]Q>,C)L&RE[AMLOMNJ]T?Z.QJ2GTA)<?_P".K]4OW\G_`+8?_<NMIM9=4RZN
M=EC0]L@@PX;A[7>YJ2GQO_&S_/8O_AW-_P"HZ<DE_C9_GL7_`,.YO_4=.224
M_P#_UJG^+G^@=)_]/UW_`+8.7L"\?_Q<_P!`Z3_Z?KO_`&P<O8$E.+]8/J?T
M+ZPEEG4*#]IJ$5953C7:V-6_I&?2VN_?6-_S/^MO3X_8WUFN=6WZ-&?6+Y\C
M>9?M_P"M+LTDE/&-R?\`&KADBW%Z;U)@[U/?4\_]N&MG_@:C;]=_K1T^A^1U
M;ZKVT8]32ZV^K(K>T`?2<[V^W_MQ=JN2^L?U3ZK]9^JBGJ&9]G^KM&QS,6C^
M=NLB;#D./M8UCOYO^<_[^DI\_M_QA]/O^O\`B_64X]U>%33]G?7[39!;8TOV
M@[/:^WZ.]=W7_C:^I3Q+LFVO^M39_P"BVO7-Y/U0Z'7_`(R\+HM>$S]FNP"]
M])+C/MO9ZKG[M_J;VM]^Y=)T7ZDYWU=ZNT=*RQ?]7\DN.5T_*&YU9VNV6XSX
MVN]^QG_%?SGK)*;M7^,?ZE6QMZI6V?WVO;_U=85NOZZ_5&SZ/6,,?UKF-_ZL
MM1>I870**A;EX%%H>\5M:*&6.<YYVM:UNP_251GU:^I68P7?LO#][BP!U+:W
M;VG8^LL<UC][7?FI*=&KK_0KH-/4<6S=H-E];I_S7JS7F8EL>E?6^>-KVG\A
M7,#ZI_XO<FFZUO3J-M#"^W:'M+6^_P!T-<W_`$3U09]2?\7&6ZH#`LI?<&^F
MQSLBLEKPYU=@#GANUVSZ22GNPYIX(*=<:/\`%A]3!#J&W4Z'::\E^G[SFRYW
M[R?_`,;3HA@4=1ZC4(W17E'6?SM6N24]BDN./^+:G4U]?ZRPGC]:D#_P-(?X
MOLQ@`I^LO56@:^ZT.U_!)3V*2Y#_`)D]?#I;]:\\"=`6M/W^Y0_YF_6\&6_6
M_(\MV.P_^CDE/9)+BQ]5/KXV2WZW.)[`XC"/QL<G;]6_\8C"2/K2QQCAV)60
MDIZW)Q:,NKTKV[F2'""6D$?G->PM>S^RN5^LG2\/`?T#'PP^NMW5L;;5O<Y@
M#/5N=L8\NV_146]#_P`933/_`#CQW>1Q61_U"Q>L].^O[^M=&P<GJ^+=D/NM
MR,5S:`!6ZBMVZZUOI^]NVWTOZ]B2GTQ)<>>G?XT&M`;U;ISSW+J7`_\`18DW
M"_QI-,GJ/3'>1J?_`-]8U)3V"2XOT?\`&S_I^D_YMG_D4O1_QL_Z?I/^;9_Y
M%)3J_7QK'?4[JP?P,=Q']80YG_36UBEQQ:2[Z1K;/Q@+SOK=/^,WK#W?5^^G
M!=38VN^^^MMK*=K'[ZZ'9%A]SK+*O?54S?L6KN_QM?N='_\`!O[TE/:)+B]W
M^-O]WH__`(-_>EN_QM_N]'_\&_O24]HDN+W?XV_W>C_^#?WI;O\`&W^[T?\`
M\&_O24]HDN+W?XV_W>C_`/@W]Z6[_&W^[T?_`,&_O24]HDN,:?\`&R3#AT=H
M\?TQ_BG=7_C7=Q;TAGP%O_?MR2GLES?U6'I]:^LM(X&>RS_MRBERH>C_`(V/
M^Y'2?\VS_P`BLOI>!_C'_;?6CCY>%1<ZV@Y%CZG^G8[T6;'8VYA]K*MC+/\`
MA4E/HZ2XYN!_C1)]W5.G`>(I<?\`OB8=)_QGSKUW#`[QC@_^BDE/9)+C3T+_
M`!DDS_SDH`/ABL_\@F/U9_QA.?)^M8:"==N)7I\&I*>S27%_\TOKU_\`/<__
M`-A6?^E5,_5#ZXN;#OK??YQBL'Y+DE/8I+CQ]2OK$Z/5^MF<X\.V,:P'X>]V
MU1/^+O(?'K?63JSH_=OV:?<Y)3V28N`Y("X\?XM,`D>KUCJUT'A^5_Y&MJE_
MXUGU6?\`S_VJ^/\`29#SH?S?;M24]39EXE7\[=77'[S@.?ZQ5*_ZS?5S'TOZ
MKAUGP=?6#_F[UC5?XK?J169'3RX\>^VUP^XV*[7]0OJ=7]'I..?ZS2[_`*LN
M24JWZ^_4VKZ75L<_U'%__GL/5&[_`!J?4BHP,YUA_D4VG\M;5M4?5CZN8_\`
M,]+Q&1Q%%?\`Y!7:L3$I_F::ZXXV-#?^I"2GE#_C/Z/8)PL#J.=/'HXQ,_Y[
MFI#Z]]6O_H?U6ZD_P]9HH_ZO>NQ224\:/K'_`(PKS%'U79C_`,J_+81_T16F
M==_C8O/LQ^E8@/[SK'D?YKK&KLTDE/&_LK_&=>/TW6L'&G_04;X_[=8U.WZH
M_7&S^E?6V\CN*<9E?_3#_P#OJ[%))3QQ_P`7N3;KD_67J]A/.R_TQ_FP]./\
M6/1G",G.ZCDZ:FS).I'YWM:U=@DDIX]O^*CZE`[G8MEAF3NNL_[Z]JLU?XM?
MJ36`!TQCH$2]]CO^JL73I)*<!GU"^IS(CI..8_>;N_ZLN59GU1^J]W5375TG
M$&/AL/J_H6$.NLC96[V^[T*??L_X>M=!EU9=K6LQKQC@G](_9O?M_P""W.#*
MW_RWUW?U%/&QJL6D4U`AHDDDRYSB=SWO<?<][W?2<DIH-^J_U9;&WI.$(XC'
MJ[?];1V]%Z.P[F8.,UWB*6`_]2KJ22FL.F].:06XM((X(K;_`.14_LF+_H:_
M\T?W(R22F(KK``#0`.``$MC/W1]RDDDI;:T=A]RY[ZCM;^QKM/\`M=F_^W-R
MZ)5L#I^)TZEU&(STZW667$23[[7.NM=[I^E8])38VCP"=)))3XQ_C9_GL7_P
M[F_]1TY)+_&S_/8O_AW-_P"HZ<DDI__7J?XN?Z!TG_T_7?\`M@Y>P+Q__%S_
M`$#I/_I^N_\`;!R]@24I))))2DDEF]6ZEC8[FXM[2YMU;W.<'%NW:-U8W,][
M'6[7^F__`(-)3Y_?]7K;>J6_6&SK]U/5:[HKR'5-]!@]^S%]!MQO]/8WTOH;
M+/Y:]0K+C6TN$.(!(.AE8[<SHHK92,=^SU'>DPMD/L#7-?MEW^B>]_Z17.G9
M^-DN=1C,>*J&@-L=]%PEU<,W$V>WTOSTE+=8Z<[J.*REKFM=7=7<-X+FGTW;
M]K@QS'>[^LLS_FF3Z4WZ,+IK;O;6T.L&3%#&6M?[7?Z5ZZ)))3D8W0C11ETB
MT'[72:M^V"#-WN_E?SZ#=]4L"SI].$TFDM]/UKJRX/>*VN8&[]VYC-[]VSZ"
MW4DE.#9]67VY3,A^2`0:_4K8S:UP@,S&-;N]C,OT<;_B_25OHV!9B_:+;6EA
MML(HK=!-=#2YU5/L+F_2?9M_X/TUII)*4DDDDI22222E))))*4N:QG_M+Z]9
M5HUHZ'B-QF^'KY1^T7P[^1CU4,5SZP_62CI%;:*&',ZMD^S"Z?7K98\\.?\`
MZ''9]*Z]_LV*?U:Z,_I'3?2R+/6SLFQV3GW_`+]]IW6EO\AG\U5_P=:2G622
M224I))))2DDDDE*6/UOJ&?B6C[,6BJNIUMSM@M<V##7VT^K1;]F^ENLH]:S^
M0MA5\G`PLLM.517<:_H%[0Z/O24YS_K)4QP)I<ZE]AIKM#A[GM+&O_1_28S]
M)]-"R^OYC<D58N.US-_IESWP2YN53@/;'YK7LM?[UK.Z?@O?98_'K<^YNRQQ
M:"7-/YKO\U,SIV`S9LQZV^D2:X:/:7.%KBW^M:UMG]=)3F-^M%9N92,6TG:T
MW%H+@PO?90T;V-=7].A_TWU*6/\`6&VU]8?AFMEGH%S_`%&NV_:211[0/=Q^
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M@5/997CUL?4-M;@T`M&NC?W?I(HHI`L`8T"XDVB![B0&2_\`>]C=J2G#J^MM
M)P:<NRAY%HAL>UQ<TU-NW4O]]/MM=D,]3_M-7ZJMXW7Z,F^JBNMQ=>0Z@R(?
M2?4_6F_\%^@_Z=7[ZO'!PSS16=0?HCD,]#_SR[TO^+4:^GXU62W)8(-=7H4L
M``977+7.94UK1]/TZ_\`MM)3922224I))))2DDDDE*22224I))))2DDDDE*2
M2224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))
M3XQ_C9_GL7_P[F_]1TY)+_&S_/8O_AW-_P"HZ<DDI__0J?XN?Z!TG_T_7?\`
MM@Y>P+R#_%Q_0.D_^GZ[_P!L'+U])2DDDDE*0[,>BT.%M;7AX`>'`&0T[FAT
M_NN*(DDIK?LW`WO?]GK+K0`\EH,@?1;_`%49E--9EC&M/$M`')W?]45-))2D
MDDDE*22224I))))2DDDDE*22224I))))3G=,^K_1^E6778&,VJ_(<777$E]C
MB3N]UUI?;M_D;MBT4DDE*22224I))))2DDDDE*22224I))))2DDDDE*22224
MI))))2DDDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))2DDD
MDE*22224I))))2DDDDE*22224I))))2DDDDE*22224I))))3XQ_C9_GL7_P[
MF_\`4=.22_QL_P`]B_\`AW-_ZCIR22G_T>+Z1U3K5'2V86-TXY>*<UUU%[!D
M->,DU"M]561@W4>[[,W?Z/TUI?M/ZX?^4^9_VYU+_P![%QB22GL_VG]</_*?
M,_[<ZE_[V)?M/ZX?^4^9_P!N=2_][%QB22GL_P!I_7#_`,I\S_MSJ7_O8E^T
M_KA_Y3YG_;G4O_>Q<8DDI[/]I_7#_P`I\S_MSJ7_`+V)?M/ZX?\`E/F?]N=2
M_P#>Q<8DDI[/]I_7#_RGS/\`MSJ7_O8E^T_KA_Y3YG_;G4O_`'L7&))*>S_:
M?UP_\I\S_MSJ7_O8E^T_KA_Y3YG_`&YU+_WL7&))*>S_`&G]</\`RGS/^W.I
M?^]B7[3^N'_E/F?]N=2_][%QB22GL_VG]</_`"GS/^W.I?\`O8E^T_KA_P"4
M^9_VYU+_`-[%QB22GL_VG]</_*?,_P"W.I?^]B7[3^N'_E/F?]N=2_\`>Q<8
MDDI[/]I_7#_RGS/^W.I?^]B7[3^N'_E/F?\`;G4O_>Q<8DDI[/\`:?UP_P#*
M?,_[<ZE_[V)?M/ZX?^4^9_VYU+_WL7&))*>S_:?UP_\`*?,_[<ZE_P"]B7[3
M^N'_`)3YG_;G4O\`WL7&))*>S_:?UP_\I\S_`+<ZE_[V)?M/ZX?^4^9_VYU+
M_P![%QB22GL_VG]</_*?,_[<ZE_[V)?M/ZX?^4^9_P!N=2_][%QB22GL_P!I
M_7#_`,I\S_MSJ7_O8E^T_KA_Y3YG_;G4O_>Q<8DDI[/]I_7#_P`I\S_MSJ7_
M`+V)?M/ZX?\`E/F?]N=2_P#>Q<8DDI[/]I_7#_RGS/\`MSJ7_O8E^T_KA_Y3
MYG_;G4O_`'L7&))*>S_:?UP_\I\S_MSJ7_O8E^T_KA_Y3YG_`&YU+_WL7&))
M*>S_`&G]</\`RGS/^W.I?^]B7[3^N'_E/F?]N=2_][%QB22GL_VG]</_`"GS
M/^W.I?\`O8E^T_KA_P"4^9_VYU+_`-[%QB22GL_VG]</_*?,_P"W.I?^]B7[
M3^N'_E/F?]N=2_\`>Q<8DDI[/]I_7#_RGS/^W.I?^]B7[3^N'_E/F?\`;G4O
M_>Q<8DDI[/\`:?UP_P#*?,_[<ZE_[V)?M/ZX?^4^9_VYU+_WL7&))*>S_:?U
MP_\`*?,_[<ZE_P"]B7[3^N'_`)3YG_;G4O\`WL7&))*>S_:?UP_\I\S_`+<Z
ME_[V)?M/ZX?^4^9_VYU+_P![%QB22GL_VG]</_*?,_[<ZE_[V)?M/ZX?^4^9
M_P!N=2_][%QB22GL_P!I_7#_`,I\S_MSJ7_O8E^T_KA_Y3YG_;G4O_>Q<8DD
MI[/]I_7#_P`I\S_MSJ7_`+V)?M/ZX?\`E/F?]N=2_P#>Q<8DDI[/]I_7#_RG
MS/\`MSJ7_O8E^T_KA_Y3YG_;G4O_`'L7&))*>S_:?UP_\I\S_MSJ7_O8E^T_
MKA_Y3YG_`&YU+_WL7&))*>S_`&G]</\`RGS/^W.I?^]B7[3^N'_E/F?]N=2_
M][%QB22GL_VG]</_`"GS/^W.I?\`O8E^T_KA_P"4^9_VYU+_`-[%QB22GL_V
MG]</_*?,_P"W.I?^]B7[3^N'_E/F?]N=2_\`>Q<8DDI[/]I_7#_RGS/^W.I?
M^]B7[3^N'_E/F?\`;G4O_>Q<8DDI[/\`:?UP_P#*?,_[<ZE_[V)?M/ZX?^4^
M9_VYU+_WL7&))*>S_:?UP_\`*?,_[<ZE_P"]B7[3^N'_`)3YG_;G4O\`WL7&
M))*>S_:?UP_\I\S_`+<ZE_[V)?M/ZX?^4^9_VYU+_P![%QB22G=^L'4>L9>/
EAT=0P3A58]MYJ<\7[WV6>A]I]2[.MO?:ZOTZ/^+WI+"224__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
