<SEC-DOCUMENT>0001145443-13-002176.txt : 20131115
<SEC-HEADER>0001145443-13-002176.hdr.sgml : 20131115
<ACCEPTANCE-DATETIME>20131115112531
ACCESSION NUMBER:		0001145443-13-002176
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20131216
FILED AS OF DATE:		20131115
DATE AS OF CHANGE:		20131115
EFFECTIVENESS DATE:		20131115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COPART INC
		CENTRAL INDEX KEY:			0000900075
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				942867490
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23255
		FILM NUMBER:		131222931

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		7076395000

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 300
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>d30890.htm
<DESCRIPTION>DEF 14A
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<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>UNITED STATES</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 15.6pt"><B>SECURITIES AND EXCHANGE
COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 15.6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Washington</B></FONT><B>,
D.C. 20549</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 15.6pt"><B>SCHEDULE&nbsp;14A
INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: center; text-indent: 15.6pt"><B>PROXY STATEMENT
PURSUANT TO SECTION 14(a) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 15.6pt"><B>SECURITIES EXCHANGE
ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 15.6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings">x</FONT> Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 15.6pt">Check the appropriate box:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Preliminary Proxy Statement</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">x</FONT></TD><TD>Definitive Proxy Statement</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Definitive Additional Materials</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Soliciting Material Pursuant to &sect;240.14a-11(c) or &sect;240.14a-2</TD></TR></TABLE>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center; text-indent: 15.6pt"><B>COPART, INC.</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 15.6pt"><B>(Name of Registrant
as Specified In Its Charter)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 15.6pt"><B>(Name of Person(s)
Filing Proxy Statement, if other than the Registrant)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 9pt 0 0; text-indent: 15.6pt">Payment of Filing Fee (Check the appropriate
box):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">x</FONT></TD><TD>No fee required.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-11.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(1)</TD><TD>Title of each class of securities to which transaction applies:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(2)</TD><TD>Aggregate number of securities to which transaction applies:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(3)</TD><TD>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11 (Set forth the amount
on which the filing fee is calculated and state how it was determined):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(4)</TD><TD>Proposed maximum aggregate value of transaction:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(5)</TD><TD>Total fee paid: $</TD></TR></TABLE>

<P STYLE="font: x-small Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Fee paid previously with preliminary materials.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 24.45pt"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD>Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;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.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 4.5pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(1)</TD><TD>Amount Previously Paid:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(2)</TD><TD>Form, Schedule or Registration Statement No.:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(3)</TD><TD>Filing Party:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>

<P STYLE="font: 4pt/1pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center; text-indent: 0in; border-top: black 0.5pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24.45pt"></TD><TD STYLE="width: 24.5pt">(4)</TD><TD>Date Filed:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 48.95pt; text-indent: 15.6pt">&nbsp;</P>
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<PAGE>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B><BR>
<DIV ALIGN="CENTER"><IMG SRC="copart_web-small.jpg">
<BR>&nbsp;</DIV>
 14185 Dallas Parkway, Suite 300<BR> Dallas, Texas 75254<BR> (972) 391-5000</B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>November 15, 2013</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Dear Stockholder:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">You are cordially invited to
attend the 2013 Annual Meeting of Stockholders of Copart, Inc. to be held on Monday, December 16, 2013, at 8:00 a.m., Central time, at Copart&#146;s
corporate headquarters located at 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254. The formal meeting notice and proxy statement are
attached.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">At this year&#146;s annual
meeting, our stockholders will be asked:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To elect the eight nominees for director named in the proxy
statement to hold office until our 2014 annual meeting of stockholders or until their respective successors have been duly elected and
qualified;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To approve the amendment to and restatement of our 2007 Equity
Incentive Plan, including amendments to increase the number of shares reserved under the plan from 8,000,000 shares to 12,000,000;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To approve the grant of an option to acquire 2,000,000 and
1,500,000 shares of our common stock to each of Mr. A. Jayson Adair, our chief executive officer, and Mr. Vincent W. Mitz, our president, respectively,
as more fully described in this proxy statement, such grants to be made in lieu of any cash, salary or bonus compensation in excess of $1.00 per year
or the grant of any additional equity incentives for a five-year period;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To vote to approve, on an advisory basis, the compensation of
our named executive officers for the fiscal year ended July 31, 2013;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To ratify the appointment by the audit committee of our board of
directors of Ernst &amp; Young LLP as our independent registered public accounting firm for the fiscal year ending July 31, 2014; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="27px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><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 or postponement of the annual meeting.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Your vote is important. Whether
or not you plan to attend the annual meeting, it is important that your shares be represented, and we hope you will vote as soon as possible. Please
vote promptly by mailing a completed proxy card in the enclosed return envelope (which is postage prepaid if mailed in the United States). Please
remember to sign and date your card. If you hold shares of our common stock through a broker, bank, or other nominee holder, please follow the voting
instructions provided. You may be able to vote by telephone or over the Internet. Returning the proxy card or voting electronically or telephonically
does not deprive you of your right to attend the meeting and to vote your shares in person for the matters acted upon at the annual
meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Thank you for your ongoing
support of Copart. We look forward to seeing you at our 2013 Annual Meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">&nbsp;Sincerely,</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">
<IMG SRC="johnsonw_sig.jpg">
<BR>
&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">&nbsp;WILLIS J. JOHNSON<BR> &nbsp;<I>Chairman</I></DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>This notice of our annual
meeting of stockholders, proxy statement, proxy card, and 2013 annual report are being distributed and made available to our stockholders on or about
November 15, 2013</I>.</FONT></DIV></P>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>COPART, INC.<BR> 14185 Dallas Parkway, Suite 300<BR>
Dallas, Texas 75254<BR> (972) 391-5000<BR></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>NOTICE OF 2013 ANNUAL MEETING OF STOCKHOLDERS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Time and Date</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">8:00 a.m., Central time, on Monday, December 16, 2013</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Place</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Copart&#146;s corporate headquarters located at 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
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     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Items of Business</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&#149;&nbsp;&nbsp;To elect the eight nominees for director named in this proxy statement to hold office until our 2014 annual meeting of
stockholders or until their respective successors are duly elected and qualified;<BR> &#149;&nbsp;To approve the amendment to and restatement of our
2007 Equity Incentive Plan, including amendments to increase the number of shares reserved under the plan from 8,000,000 shares to 12,000,000;<BR>
&#149;&nbsp;To approve the grant of an option to acquire 2,000,000 and 1,500,000 shares of our common stock to each of Mr. A. Jayson Adair, our chief
executive officer, and Mr. Vincent W. Mitz, our president, respectively, as more fully described in this proxy statement, such grants to be made in
lieu of any cash, salary or bonus compensation in excess of $1.00 per year or the grant of any additional equity incentives for a five-year period;<BR>
&#149;&nbsp;To vote to approve, on an advisory basis, the compensation of our named executive officers for the fiscal year ended July 31, 2013;<BR>
&#149;&nbsp;To ratify the appointment by the audit committee of our board of directors of Ernst &amp; Young LLP as our independent registered public
accounting firm for the fiscal year ending July 31, 2014; and<BR> &#149;&nbsp;To transact any other business that may properly come before the annual
meeting.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Record Date</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">You are entitled to vote only if you were a Copart stockholder of record as of the close of business on the record date, October 28,
2013.</DIV></FONT></DIV></TD>
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<TR><TD>&nbsp;</TD></TR>
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     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Meeting Admission</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>You are entitled to attend the annual meeting only if you were a Copart stockholder as of the close of business on the record date or otherwise
hold a valid proxy for the annual meeting</B>. If you are not a stockholder of record but hold shares through a broker, bank, trustee, or nominee
(<I>i.e</I>., in street name), you should provide proof of beneficial ownership as of the record date, such as your most recent account statement
reflecting ownership on the record date, a copy of the voting instruction card provided by your broker, bank, trustee, or nominee, or similar evidence
of ownership.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A complete list of stockholders entitled to vote at the meeting will be available and open to examination by any stockholder for any purpose
germane to the meeting for a period of at least ten days prior to the meeting during normal business hours at our corporate
headquarters.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Annual Report</B></DIV></FONT></DIV></TD>
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     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Our 2013 annual report is enclosed with these materials as a separate booklet. You may also access our 2013 annual report by visiting
http://materials.proxyvote.com/217204. Our 2013 annual report is not a part of the proxy solicitation materials.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Date of Mailing</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">This notice of our annual meeting of stockholders, proxy statement, proxy card, and 2013 annual report are being distributed and made available to
our stockholders on or about November 15, 2013.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Voting</B></DIV></FONT></DIV></TD>
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     <TD ALIGN="LEFT" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Your vote is very important. Whether or not you plan to attend the annual meeting, we encourage you to read the proxy statement and submit your
proxy or voting instructions as soon as possible. For specific instructions on how to vote your shares, please refer to the instructions in the section
entitled &#147;Questions and Answers About the Proxy Materials and Annual Meeting&#148; beginning on page 1 of the proxy
statement.</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>IMPORTANT NOTICE REGARDING
THE PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON DECEMBER 16, 2013</B>: The notice of annual meeting, proxy statement, proxy card and 2013
annual report are available by visiting http://materials.proxyvote.com/217204.</I></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>PROXY STATEMENT<BR> FOR 2013 ANNUAL MEETING OF
STOCKHOLDERS<BR> TABLE OF CONTENTS</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
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     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Page<HR SIZE=1 NOSHADE COLOR="#000000" ></FONT></TH>
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<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND ANNUAL MEETING </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">CORPORATE GOVERNANCE AND BOARD OF DIRECTORS </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Board of Directors Composition, Meetings, and Board Committees </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Fiscal 2013 Board Meetings </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Board Leadership Structure </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Director Independence </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Oversight of Risk Management </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Board Committees </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Compensation Committee Interlocks and Insider Participation </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Considerations in Identifying and Evaluating Director Nominees </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Director Nomination Process </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13</FONT></TD>
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</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Director Attendance at Annual Meetings </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13</FONT></TD>
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</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Stockholder Communications with our Board of Directors </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">COMPENSATION OF NON-EMPLOYEE DIRECTORS </DIV></FONT></DIV></TD>
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     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">14</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">PROPOSAL NUMBER ONE &#151; ELECTION OF DIRECTORS </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">General </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Nominees </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Biographical Information </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Required Vote </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Recommendation of our Board of Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">PROPOSAL NUMBER TWO &#151; APPROVAL OF AMENDMENT AND RESTATEMENT OF 2007 EQUITY INCENTIVE PLAN </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">General </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Reasons for Voting for the Amendment and Restatement of the 2007 Equity Incentive Plan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Key Features of the 2007 Plan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Summary of the 2007 Equity Incentive Plan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Number of Awards Granted to Employees, Consultants, and Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Federal Tax Aspects </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Vote Required </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">25</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Recommendation of our Board of Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">25</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">PROPOSAL NUMBER THREE &#151; APPROVAL OF THE GRANT OF STOCK OPTIONS TO OUR CHIEF EXECUTIVE OFFICER AND OUR PRESIDENT </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">26</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">General </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">26</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Required Vote </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">34</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Recommendation of our Board of Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">34</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<BR>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Page<HR SIZE=1 NOSHADE COLOR="#000000" ></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">PROPOSAL NUMBER FOUR &#151; ADVISORY VOTE ON APPROVAL OF EXECUTIVE COMPENSATION </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">35</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">General </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">35</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Compensation Program and Philosophy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">35</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Required Vote </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">36</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Recommendation of our Board of Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">36</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">PROPOSAL NUMBER FIVE &#151; RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">General </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Vote Required </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Recommendation of our Board of Directors </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Auditor Fees and Services </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm
</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Report of the Audit Committee </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">EXECUTIVE OFFICERS </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">40</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">EXECUTIVE COMPENSATION </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Forward-Looking Statements </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Compensation Discussion and Analysis </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Role of Management in Compensation Process </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">44</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Compensation Philosophy and Program Design </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">44</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Compensation of Mr. Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">45</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Principal Components of Executive Compensation </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">47</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Other Considerations </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">49</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">COMPENSATION COMMITTEE REPORT </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">51</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Fiscal Year 2013 Summary Compensation Table </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">52</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Outstanding Equity Awards at 2013 Fiscal Year End </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">54</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Option Exercises in Fiscal Year 2013 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">55</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Pension Benefits </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">55</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Potential Post-Employment Payments upon Termination or Change in Control </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">55</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Equity Compensation Plan Information </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">RELATED PERSON TRANSACTIONS </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">58</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">60</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">SECURITY OWNERSHIP </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">61</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">OTHER MATTERS </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">63</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Other Matters </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">63</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Adjournment of the 2013 Annual Meeting </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">63</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Annual Report </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">63</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>COPART, INC.<BR>14185 Dallas Parkway, Suite 300<BR>Dallas,
Texas 75254<BR>(972) 391-5000</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>PROXY STATEMENT<BR>For the Annual Meeting of
Stockholders<BR>To Be Held December 16, 2013</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>QUESTIONS AND ANSWERS<BR> ABOUT THE PROXY MATERIALS AND ANNUAL MEETING</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is a proxy?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A proxy is your legal designation
of another person to vote the stock you own. The person you designate is your &#147;proxy,&#148; and you give the proxy authority to vote your shares
by submitting the proxy card or voting by telephone or over the Internet. We have designated our chief executive officer, A. Jayson Adair, and our
senior vice president, general counsel and secretary, Paul A. Styer, to serve as proxies for the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Why am I receiving these
materials?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are providing these proxy
materials in connection with the solicitation by the Board of Directors of Copart, Inc., a Delaware corporation of proxies to be voted at our 2013
Annual Meeting of Stockholders (and at any adjournment or postponement of such meeting). The annual meeting will take place on Monday, December 16,
2013 at 8:00 a.m., Central time, at our corporate headquarters located at 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254. Directions to the
annual meeting are included on page 64 of this proxy statement. As a stockholder, you are invited to attend the annual meeting and are requested to
vote on the items of business described in this proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">This proxy statement and the
accompanying proxy card, notice of annual meeting, and voting instructions are being mailed starting November 15, 2013 to all stockholders of record
entitled to vote at the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What information is contained in this proxy
statement?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The information in this proxy
statement relates to the proposals to be voted on at the annual meeting, the voting process, the compensation of our directors and most highly paid
executive officers, our corporate governance policies, information on our board of directors, and certain other required information. We use several
abbreviations in this proxy statement. The term &#147;proxy materials&#148; means this proxy statement as well as the proxy card and our 2013 annual
report to stockholders. References to &#147;fiscal year&#148; refer to our fiscal year beginning on August 1 of the prior year and ending on July 31 of
the year stated.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What items of business will be voted on at the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The items of business scheduled
to be voted on at the annual meeting are as follows:</FONT></DIV></P>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To elect the eight nominees for director named in this proxy
statement to hold office until our 2014 annual meeting of stockholders or until their respective successors are duly elected and qualified;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To approve the amendment to and restatement of our 2007 Equity
Incentive Plan, including amendments to increase the number of shares reserved under the plan from 8,000,000 shares to 12,000,000;</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To approve the grant of an option to acquire 2,000,000 and
1,500,000 shares of our common stock to each of Mr. A. Jayson Adair, our chief executive officer, and Mr. Vincent W. Mitz, our president, respectively,
as more fully described in this proxy statement, such grants to be made in lieu of any cash, salary or bonus compensation in excess of $1.00 per year
or the grant of any additional equity incentives for a five-year period;</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To vote to approve, on an advisory basis, the compensation of
our named executive officers for the fiscal year ended July 31, 2013, as set forth in this proxy statement; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To ratify the appointment by the audit committee of our board of
directors of Ernst &amp; Young LLP as our independent registered public accounting firm for the fiscal year ending July 31, 2014.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We will also transact any other
business that may properly come before the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How does our board of directors recommend that I
vote?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors recommends
that you vote your shares:</FONT></DIV></P>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;FOR&#148; each of the eight nominees for director named in
this proxy statement.</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;FOR&#148; the approval of the amendment to and restatement
of our 2007 Equity Incentive Plan.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;FOR&#148; the approval of the option grants to each of Mr.
A. Jayson Adair, our chief executive officer, and Mr. Vincent W. Mitz, our president.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;FOR&#148; the approval, on an advisory basis, of the
compensation of our named executive officers for the fiscal year ended July 31, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;FOR&#148; the ratification of the appointment of Ernst
&amp; Young LLP as our independent registered public accounting firm for the 2014 fiscal year.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Who is entitled to vote at the Annual
Meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each share of our common stock
issued and outstanding as of the close of business on October 28, 2013, the record date for our annual meeting, is entitled to vote on all items being
considered at the annual meeting. You may vote all shares owned by you as of the record date, including (i) shares held directly in your name as the
stockholder of record and (ii) shares held for you as the beneficial owner in street name through a broker, bank, or other nominee. On the record date,
we had 125,547,268 shares of common stock issued and outstanding.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How many votes am I entitled to per
share?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For all matters described in this
proxy statement for which your vote is being solicited, each holder of shares of common stock is entitled to one vote for each share of common stock
held by such holder as of the record date.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Am I entitled to cumulate my votes at the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under our certificate of
incorporation in connection with the election of directors, each stockholder then entitled to vote in such election shall be entitled to as many votes
as shall equal the number of votes which (except with respect to these cumulative voting rights) such holder would be entitled to cast for the election
of directors with respect to such stockholder&#146;s shares of stock multiplied by the number of directors to be elected in the election in which such
stockholder&#146;s shares are entitled to vote, and such stockholder may cast all of such votes for a single director or may distribute them among the
number to be voted for, or for any two or more of them as such stockholder may see fit.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is the difference between holding shares as a
stockholder of record and as a beneficial owner?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Stockholder of
Record</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If your shares are registered
directly in your name with our transfer agent, Computershare Trust Company, N.A., you are considered, with respect to those shares, the <I>stockholder
of record</I>, and these proxy materials were sent directly to you by Copart. As the <I>stockholder of record</I>, you have the right to grant your
voting proxy directly to our designated proxies or to vote in person at the annual meeting. We have enclosed or sent a proxy card for you to use with
the printed proxy materials delivered to you. You may also vote on the Internet or by telephone,</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>as described below under the
heading &#147;How can I vote my shares without attending the annual meeting?&#148; and on your proxy card.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Beneficial
Owner</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If your shares are held in an
account at a brokerage firm, bank, or other similar organization, you are considered the beneficial owner of shares held in street name, and the notice
of annual meeting, proxy statement, and 2013 annual report were forwarded to you by that organization. As the beneficial owner, you have the right to
direct your broker, bank, or other nominee how to vote your shares, and you are also invited to attend the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As a <I>beneficial owner</I>, you
have the right to direct your broker, trustee or other nominee on how to vote your shares. For directions on how to vote shares beneficially held in
street name, please refer to the voting instruction card provided by your broker, trustee or nominee. Since a beneficial owner is not the
<I>stockholder of record</I>, you may not vote your shares in person at the annual meeting unless you obtain a &#147;legal proxy&#148; from the broker,
bank, trustee, or nominee that holds your shares giving you the right to vote the shares at the meeting. If you are a beneficial owner and do not wish
to vote in person or you will not be attending the annual meeting, you may vote by following the instructions provided by your broker or other
nominee.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How can I contact Copart&#146;s transfer
agent?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">You may contact our transfer
agent, Computershare Trust Company, N.A., by telephone at (877) 282-1168, by facsimile at (781) 575-3605 or by writing Computershare Trust Company,
N.A., P.O. Box 43078, Providence, Rhode Island, 02940-3078. You may also access instructions with respect to certain stockholder matters (<I>e.g</I>.,
lost share certificates, change of address) via the Internet at www.computershare.com/investor.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How can I attend the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">You are invited to attend the
annual meeting if you were a stockholder of record as of the record date, October 28, 2013, you hold a valid proxy for the annual meeting, or you are a
beneficial owner as of the record date, October 28, 2013. If you are a stockholder of record, meaning you hold shares directly in your name with
Computershare Trust Company, N.A., please bring government-issued photo identification for entrance to the annual meeting. If you are not a stockholder
of record but hold shares as a beneficial owner in street name, you should provide proof of beneficial ownership as of the record date, such as your
most recent account statement reflecting stock ownership on the record date, October 28, 2013, together with a copy of the voting instruction card
provided by your broker, bank, or nominee, or other similar evidence of ownership.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If you do not comply with the
procedures outlined above, you may not be admitted to the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Please let us know if you plan to
attend the meeting by marking the appropriate box on the proxy card or, if you vote by telephone or Internet, by indicating your plans when
prompted.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Will the annual meeting be
webcast?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We do not expect to webcast the
annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How can I vote my shares in person at the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Stockholders of record</I>
&#151; Shares held in your name as the stockholder of record may be voted by you in person at the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Beneficial owners</I> &#151;
Shares held beneficially in street name may be voted by you in person at the annual meeting only if you obtain a legal proxy from the broker, trustee,
or other nominee that holds your shares giving you the right to vote the shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Even if you plan to attend the
annual meeting, we recommend that you also submit your proxy or voting instructions as described below so that your vote will be counted if you later
decide not to attend the annual meeting.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How can I vote my shares without attending the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>By mail</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Please complete, sign and date
the proxy or voting instruction card and return it in the prepaid envelope. If you are a stockholder of record and you return your signed proxy card
but do not indicate your voting preferences, the persons named in the proxy card will vote the shares represented by your proxy card as recommended by
our board of directors.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>By
telephone</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">You may also vote by telephone.
You can vote by calling the toll-free telephone number on your proxy card. Please have your proxy card handy when you call. Easy-to-follow voice
prompts will allow you to vote your shares and confirm that your instructions have been properly recorded.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>By
Internet</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If you are a stockholder of
record, you may vote by following the telephone or Internet voting instructions on your proxy card.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Telephone and Internet voting
facilities for stockholders of record will be available 24 hours a day until 1:00 a.m., Central time, on December 16, 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If you are a beneficial owner of
shares, your broker, bank or other holder of record may make telephone or Internet voting available to you. The availability of telephone and Internet
voting for beneficial owners will depend on the voting processes of your broker, bank or other nominee holder of record. Therefore, we recommend that
you follow the voting instructions in the materials you receive.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If you vote by telephone or the
Internet, you do not have to return your proxy or voting instruction card.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Can I change my vote or revoke my
proxy?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Yes, you have the right to revoke
your proxy at any time prior to the time your shares are voted. If you are the stockholder of record, you may revoke your vote by (i) granting a new
proxy bearing a later date (which automatically revokes the earlier proxy) using any of the methods described above under the subheading &#147;How can
I vote my shares without attending the annual meeting?&#148; (and until the applicable deadline for each method), (ii) providing a written notice of
revocation to our corporate secretary at Copart, Inc., 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254, Attn: Paul A. Styer, prior to your shares
being voted, or (iii) attending the annual meeting and voting in person. Attendance at the meeting will not cause your previously granted proxy to be
revoked unless you specifically so request.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For shares you hold beneficially
in street name, you may change your vote by submitting new voting instructions to your broker, trustee, or nominee following the instructions they
provided or, if you have obtained a legal proxy from your broker, trustee, or nominee giving you the right to vote your shares, by attending the annual
meeting and voting in person.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Is there a list of stockholders entitled to vote at
the annual meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The names of stockholders of
record entitled to vote at the annual meeting will be available at the annual meeting and for ten days prior to the meeting for any purpose germane to
the meeting, between the hours of 9:00 a.m. and 4:30 p.m., at our corporate headquarters located at 14185 Dallas Parkway, Suite 300, Dallas, Texas
75254, by contacting our corporate secretary.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Is my vote confidential?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Proxy instructions, ballots, and
voting tabulations that identify individual stockholders are handled in a manner that protects your voting privacy. Your vote will not be disclosed
either within Copart or to third parties, except as necessary to meet applicable legal requirements, to allow for the tabulation of votes and
certification of the vote, or to facilitate a successful proxy solicitation.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How many shares must be present or represented to
conduct business at the annual meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The quorum requirement for
holding the annual meeting and transacting business is that the holders of a majority of the voting power of all of the shares of the stock entitled to
vote at the meeting, present in person or by proxy, shall constitute a quorum. If there is no quorum, the chairman of the annual meeting may adjourn
the meeting to another place, if any, date, or time. Abstentions and &#147;broker non-votes&#148; are counted as present and entitled to vote for
purposes of determining a quorum.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is a broker non-vote?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If you are a beneficial owner
whose shares are held of record by a broker, trustee or nominee you must instruct the broker, trustee or nominee how to vote your shares. If you do not
provide voting instructions, your shares will not be voted on any proposal on which the broker does not have discretionary authority to vote. This is
called a &#147;broker non-vote.&#148; In these cases, the broker can register your shares as being present at the annual meeting for purposes of
determining the presence of a quorum but will not be able to vote on those matters for which specific authorization is required. If you are a
beneficial owner whose shares are held of record by a broker, trustee or nominee, your broker, trustee or nominee has discretionary voting authority to
vote your shares on the ratification of the appointment of Ernst &amp; Young LLP as our independent registered public accounting firm (Proposal 5),
even if the broker has not received voting instructions from you. However, your broker does not have discretionary authority to vote on the election of
directors (Proposal 1), the approval of the amendment to and restatement of our 2007 Equity Incentive Plan (Proposal 2), the approval of the option
grants to each of Mr. A. Jayson Adair and Mr. Vincent W. Mitz (Proposal 3) or the advisory vote on the approval of executive compensation (Proposal 4)
without instructions from you, in which case a broker non-vote will occur and your shares will not be voted on these matters. Accordingly, if you are a
beneficial owner, it is particularly important that you provide your instructions for voting your shares on the election of directors (Proposal 1), the
approval of the amendment to and restatement of our 2007 Equity Incentive Plan (Proposal 2), the approval of the option grants to each of Mr. A. Jayson
Adair and Mr. Vincent W. Mitz (Proposal 3) and the advisory vote on the approval of executive compensation (Proposal 4) to your broker, trustee, or
other nominee.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is the voting requirement to approve each of the
proposals?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="20%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Proposal<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="60%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Vote Required<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="20%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Discretionary Voting<BR>Allowed?<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Election of directors</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="60%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Plurality of the votes cast</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="20%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">No</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Amendment to and restatement of our 2007 Equity Incentive Plan</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="60%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Majority of the votes cast</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="20%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">No</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Option grants to each of Mr. A. Jayson Adair and Mr. Vincent W. Mitz</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="60%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Majority of the votes cast</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="20%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">No</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Advisory vote on executive compensation</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="60%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Majority of the votes cast</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="20%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">No</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Ratification of appointment of Ernst &amp; Young LLP</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="60%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Majority of the votes cast</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="20%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Yes</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Election of
Directors</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The nominees receiving the
highest number of affirmative &#147;FOR&#148; votes of the shares entitled to be voted at the annual meeting will be elected as directors. You may vote
&#147;FOR&#148; or &#147;WITHHOLD&#148; for each director nominee. A properly executed proxy marked &#147;WITHHOLD&#148; with respect to the election
of a director will not be voted with respect to such director although it will be counted for purposes of determining whether there is a quorum.
Abstentions and broker non-votes will not affect the outcome of the election of directors.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Amendment To and Restatement
of Our 2007 Equity Incentive Plan</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under our Bylaws, the votes cast
&#147;FOR&#148; must exceed the votes cast &#147;AGAINST&#148; to approve the amendment to and restatement of our 2007 Equity Incentive Plan.
Abstentions and broker non-votes are not counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Option Grants to Each of Mr.
A. Jayson Adair and Mr. Vincent W. Mitz</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under our Bylaws, the votes cast
&#147;FOR&#148; must exceed the votes cast &#147;AGAINST&#148; to approve the option grants to each of Mr. A. Jayson Adair and Mr. Vincent W. Mitz.
Abstentions and broker non-votes are not counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Advisory Vote on Approval of
Executive Compensation</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under our Bylaws, the votes cast
&#147;FOR&#148; must exceed the votes cast &#147;AGAINST&#148; to approve, on an advisory basis, the compensation of our named executive officers for
the fiscal year ended July 31, 2013. Abstentions and broker non-votes are not counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this
proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Ratification of Appointment of
Ernst &amp; Young LLP</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under our Bylaws, the votes cast
&#147;FOR&#148; must exceed the votes cast &#147;AGAINST&#148; to approve the ratification of the appointment of Ernst &amp; Young LLP as our
independent registered public accounting firm. Abstentions are not counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this
proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What happens if additional matters are presented at
the annual meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Other than the items of business
described in this proxy statement, we are not aware of any other business to be acted upon at the annual meeting. If you grant a proxy, the persons
named as proxy holders, A. Jayson Adair and Paul A. Styer, or either of them, will have the discretion to vote your shares on any additional matters
properly presented for a vote at the meeting. If for any reason any of the nominees is not available as a candidate for director, the persons named as
proxy holders will vote your proxy for such other candidate or candidates as may be nominated by our board of directors.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Who will count the votes?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A representative of our transfer
agent, Computershare Trust Company, N.A., will tabulate the votes and act as inspector of election.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Who will bear the cost of soliciting votes for the
annual meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We will pay the entire cost of
preparing, assembling, printing, mailing, and distributing these proxy materials and soliciting votes. If you choose to access the proxy materials
and/or vote over the Internet, you are responsible for Internet access charges you may incur. If you choose to vote by telephone, you are responsible
for telephone charges you may incur. In addition, the solicitation of proxies or votes may be made in person, by telephone, or by electronic
communication, by our directors, officers, and employees. None of those directors, officers or employees will receive any additional compensation for
such solicitation activities. We may also reimburse brokerage firms, banks, and other nominee holders of record for the cost of forwarding proxy
materials to beneficial owners.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Where can I find the voting results of the annual
meeting?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We will announce preliminary
voting results at the annual meeting. We will also disclose voting results on a Current Report on Form 8-K to be filed with the SEC within four
business days after the annual meeting. If final voting results are not available to us in time to file a Current Report on Form 8-K, we will file a
Current Report on Form 8-K to publish preliminary results and, within four business days after final results are known, file an additional Current
Report on Form 8-K to publish the final results.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is &#147;householding&#148; and how does it
affect me?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We have adopted a procedure
called &#147;householding,&#148; which has been approved by the SEC. Under this procedure, we deliver only one copy of the annual report and proxy
statement to multiple stockholders who share the same address and have the same last name, unless we have received contrary instructions from an
affected stockholder. This procedure reduces our printing costs, mailing costs, and fees. Stockholders who participate in householding will continue to
receive separate proxy cards.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We will deliver, promptly upon
written or oral request, a separate copy of the 2013 annual report and the proxy statement to any stockholder at a shared address to which a single
copy of either of those documents was delivered. To receive a separate copy of the 2013 annual report and/or proxy statement, you may write to or call
Copart&#146;s Investor Relations Department at 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254, telephone (972) 391-5000. Any such request should
be made promptly in order to ensure timely delivery. Any stockholders of record who (i) share the same address and currently receive multiple copies of
our annual report and proxy statement and (ii) wish to receive only one copy of these materials per household in the future may contact our Investor
Relations Department at the address or telephone number listed above to participate in the householding program.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A number of brokerage firms have
instituted householding. If you hold your shares beneficially in street name, please contact your bank, broker, or other holder of record to request
information about householding.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is the deadline to propose actions for
consideration at next year&#146;s annual meeting of stockholders or to nominate individuals to serve as directors?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Requirements for Stockholder
Proposals to be Considered for Inclusion in Our Proxy Materials</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Stockholders may present proper
proposals for inclusion in our proxy statement and for consideration at the next annual meeting of stockholders by submitting their proposals in
writing to our corporate secretary in a timely manner. For a stockholder proposal to be considered for inclusion in our proxy statement for our 2014
annual meeting of stockholders, our corporate secretary must receive the written proposal at our principal executive offices not later than July 18,
2014; provided, however, that in the event that we hold our 2014 annual meeting of stockholders more than 30 days from the one-year anniversary date of
the 2014 annual meeting, we will disclose the new deadline by which stockholders proposals must be received under Item 5 of our earliest possible
Quarterly Report on Form 10-Q or, if impracticable, by any means reasonably calculated to inform stockholders. All stockholder proposals must otherwise
comply with the requirements of Rule 14a-8 of the Securities Exchange Act of 1934, as amended, regarding the inclusion of stockholder proposals in
company-sponsored proxy materials. Proposals should be addressed to:</FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Copart, Inc.<BR> Attn: Corporate Secretary<BR> 14185 Dallas
Parkway, Suite 300<BR> Dallas, Texas 75254</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The submission of a stockholder
proposal does not guarantee that it will be included in Copart&#146;s proxy statement or proxy.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Requirements for Stockholder
Proposals to be Brought Before the 2014 Annual Meeting</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our bylaws also establish an
advance notice procedure for stockholders who wish to present a proposal before an annual meeting of stockholders, but do not intend for the proposal
to be included in our proxy statement. Our bylaws provide that the only business that may be conducted at an annual meeting is business that is (i)
specified in our proxy materials with respect to such meeting, (ii) otherwise properly brought before the meeting by or at the direction of our board
of directors, or (iii) properly brought before the meeting by a stockholder of record entitled to vote at the annual meeting who has delivered timely
written notice to our corporate secretary, which notice must contain the information specified in our bylaws. To be timely for our 2014 annual meeting
of stockholders, our corporate secretary must receive the written notice at our principal executive offices:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Not earlier than September 1, 2014, and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Not later than the close of business on October 1,
2014.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event that we hold our
2014 annual meeting of stockholders more than 30 days before or after the one-year anniversary date of the 2013 annual meeting, then notice of a
stockholder proposal that is not intended to be included in our proxy statement must be received not later than the close of business on the later of
the following two dates:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 90th day before such annual meeting: or</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 10th day following the day on which public announcement of
the date of such meeting is first made.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If a stockholder who has notified
us of his or her intention to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, we are not
required to present the proposal for a vote at such meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Nomination of Director
Candidates</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our bylaws permit stockholders to
nominate directors for election at an annual meeting of stockholders. To nominate a director, the stockholder must provide the information required by
our bylaws. In addition, the stockholder must give timely notice to our corporate secretary in accordance with our bylaws, which, in general, require
that the notice be received by our corporate secretary within the time period described above under &#147;Requirements for Stockholder Proposals to be
Brought Before the 2014 Annual Meeting&#148; for stockholder proposals that are not intended to be included in our proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In addition, it is the policy of
our nominating and governance committee to consider recommendations for candidates to the board of directors from stockholders holding not less than
one percent (1%) of the outstanding shares of our common stock continuously for at least twelve (12) months prior to the date of submission of the
recommendation or nomination. Any such recommendations should include the nominee&#146;s name and qualifications for membership on our board of
directors, and should be directed to our general counsel at our address set forth above for our corporate secretary. For additional information
regarding stockholder recommendations for director candidates, please see the sections entitled &#147;Corporate Governance and Board of Directors
&#151; Director Nomination Process&#148; and &#147;Corporate Governance and Board of Directors &#151; Considerations in Identifying and Evaluation
Director Nominees.&#148;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Availability of
Bylaws</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A copy of our current bylaws may
be obtained free of charge by written request to our Investor Relations Department c/o Copart, Inc., 14185 Dallas Parkway, Suite 300, Dallas, Texas
75254.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">8<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>CORPORATE GOVERNANCE AND BOARD OF DIRECTORS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Board of Directors Composition, Meetings, and Board
Committees</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors is
currently comprised of eight members. Our bylaws permit our board to establish the authorized number of directors within a range from five to nine
members, and eight directors are currently authorized.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">All directors elected at an
annual meeting are elected to serve from the time of election and qualification until the earlier of the next annual meeting of stockholders following
such election or their resignation or removal. At each annual meeting of stockholders, the terms of each of our incumbent directors expire and all
members of our board of directors are elected.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Fiscal 2013 Board Meetings</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">During fiscal 2013, our board of
directors held eight meetings. Each of our directors attended or participated in 75% or more of the total number of meetings of our board of directors,
and 75% or more of the meetings held by all committees of our board of directors on which he served during the past fiscal year.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Board Leadership Structure</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors believes
that it is important to retain its flexibility to allocate the responsibilities of the positions of the chairman of our board and chief executive
officer in a way that it believes is in our best interests. Currently, the roles of chairman of our board and chief executive officer have been
separated by our board of directors. Willis J. Johnson is our executive chairman, and A. Jayson Adair is our chief executive officer. Our board
believes that the separation of the offices of chairman and chief executive officer is appropriate at this time because it allows our chief executive
officer to focus primarily on our business strategy, operations, and corporate vision while the chairman provides guidance to the chief executive
officer, sets the agenda for board meetings, and presides over meetings of the full board. Our board&#146;s administration of risk oversight has not
affected its leadership structure.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Director Independence</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Of our incumbent directors,
Messrs. Blunt, Cohan, Englander, Meeks, and Tryforos have each been determined by our board to be an &#147;independent director&#148; as that term is
defined under the rules of The NASDAQ Stock Market LLC, or the NASDAQ.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors has not
established categorical standards or guidelines to make director independence determinations but considers all relevant facts and circumstances. Our
board based its determinations primarily on a review of the responses of the directors to questions regarding employment and compensation history,
affiliations, family and other relationships, and on discussions with our directors. In making its independence determinations, our board considered
transactions between us and entities associated with the directors or members of their immediate family. All identified transactions that appear to
relate to us and a person or entity with a known connection to a director are presented to our board of directors for consideration. In making its
determination that certain directors are independent, our board of directors considered the transactions in the context of the NASDAQ rules, the
standards established by the SEC for members of audit committees, and the SEC and Internal Revenue Service standards for compensation committee
members.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Oversight of Risk Management</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors&#146; role
in our risk oversight process includes receiving regular reports from members of senior management on areas of material risk to us, including
operational, financial, legal and regulatory, and strategic and reputational risks.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board&#146;s role in risk
oversight is consistent with our board&#146;s leadership structure, with the chief executive officer and other members of senior management having
responsibility for assessing and managing our risk exposure and our board and committees providing oversight in connection with those efforts. While
our board has the ultimate oversight responsibility for our risk management policies and processes, the committees of our board also have
responsibility for risk oversight with respect to certain matters.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our audit committee oversees
management of financial risk exposures, including the integrity of our accounting and financial reporting processes and controls. As part of this
responsibility, our audit committee meets periodically with our independent auditors, our internal auditors, and our financial and accounting personnel
to discuss significant financial risk exposures and the steps management has taken to monitor, control, and report these exposures. Additionally, our
audit committee reviews significant findings prepared by our independent auditors together with management&#146;s responses as well as significant
findings of our internal auditors. Our audit committee also oversees risk associated with related party transactions and business conduct
compliance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
considers the risks associated with our compensation policies and practices with respect to both executive compensation and employee compensation
generally. Our management has reviewed with our compensation committee the compensation plans and programs that could have a material impact on us. The
management review considered whether any of these plans or programs may encourage inappropriate risk-taking, whether any plan may give rise to risks
that are reasonably likely to have a material adverse effect on us, and whether our management would recommend any changes to the plans. Our management
also reviewed with our compensation committee risk-mitigating controls such as the degree of compensation committee and senior management oversight of
each program and the level and design of internal controls over such programs.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our nominating and governance
committee oversees risks associated with our overall governance practices and the leadership structure of our board. Our board is kept informed of each
committee&#146;s risk oversight and other activities via regular reports of the committee chairs to the full board.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Board Committees</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors maintains
three standing committees: an audit committee, a compensation committee, and a nominating and governance committee. Each committee has a written
charter, approved by our board of directors, outlining the principal responsibilities of the committee. Copies of the current committee charters are
available in the Corporate Governance section of the Investor Relations page on our website at <I>www.copart.com</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board committees are
comprised as follows:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Director Name<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Audit<BR> Committee<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Compensation<BR> Committee<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Nominating and<BR> Governance<BR> Committee<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matt Blunt </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Steven D. Cohan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Chair</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Daniel J. Englander </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Chair</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Chair</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">James E. Meeks </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas N. Tryforos </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><FONT FACE="Symbol">&#214;</FONT></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Only directors deemed to be
&#147;independent&#148; (see below) serve on the audit, compensation, or nominating and governance committees. However, our board may create special
committees from time to time and our current employee directors or those deemed not to be independent under applicable rules and guidelines may be
appointed to serve on those special committees, as our board may determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Audit Committee</I>. Our audit
committee is primarily responsible for (i) reviewing and approving the services performed by our independent registered public accounting firm, (ii)
reviewing our consolidated financial statements, and (iii) reviewing reports concerning our accounting practices and systems of internal accounting
procedures and controls. The purposes of our audit committee are, among other things, to:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Oversee our accounting and financial reporting processes and
audits of our consolidated financial statements;</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10<BR></FONT></DIV></P>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Assist our board in overseeing and monitoring: (i) the integrity
of our consolidated financial statements; (ii) our internal accounting and financial controls; (iii) our compliance with legal and regulatory
requirements; and (iv) our independent auditor&#146;s qualifications, independence, and performance;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Prepare the audit committee report that the rules of the SEC
require be included in our annual proxy statement;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Provide our board with the result of its monitoring and any
recommendations derived from such monitoring;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Provide our board with additional information and materials as
our audit committee may determine to be necessary to make our board aware of significant financial matters requiring board attention; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Function as our qualified legal compliance committee for the
purposes of reviewing and discussing any reports concerning material violations submitted to it by our attorneys or our outside counsel.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our audit committee held four
meetings during fiscal 2013. Our audit committee acts under a written charter adopted and approved by our board of directors, which charter can be
found at http://www.copart.com/c2/pdf/audit_cc.pdf.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The audit committee currently
consists of Steven D. Cohan, Daniel J. Englander and Matt Blunt. Mr. Cohan is the chair of our audit committee. Our board of directors has determined
that each of the members of our audit committee are &#147;independent directors&#148; as contemplated by the NASDAQ listing rules and the rules of the
SEC relating to audit committee independence. Our board of directors has designated Mr. Cohan, the chairman of the committee, as an &#147;audit
committee financial expert&#148; as defined in Item 401(h) of Regulation S-K promulgated by the SEC. This designation is a disclosure requirement of
the SEC and does not impose upon Mr. Cohan any duties, obligations, or liabilities greater than that which would otherwise be imposed by virtue of his
membership on our board or audit committee. In addition, this designation does not affect the duties, obligations, or liabilities of any other director
or audit committee member. Our board of directors has determined that each audit committee member has sufficient knowledge in reading and understanding
financial statements to serve on our audit committee.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Compensation Committee</I>.
Our compensation committee is generally responsible for, among other things, (i) assisting our board of directors in providing oversight of our
compensation policies, plans and benefits programs and (ii) reviewing and approving, and, where appropriate, making recommendations to our board of
directors regarding all forms of compensation to be provided to all of our employees, directors and consultants, including stock compensation and
loans, and all bonus and stock compensation to all employees.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee held
five meetings during fiscal 2013. Our compensation committee acts under a written charter adopted and approved by our board of directors, which charter
can be found at http://www.copart.com/c2/pdf/compensation_cc.pdf.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The compensation committee
currently consists of Daniel J. Englander, Thomas N. Tryforos and Steven D. Cohan. Mr. Englander is the chair of our compensation committee. Our board
of directors has determined that each of the members of our compensation committee are (i) &#147;independent directors&#148; as contemplated by NASDAQ
rules, (ii) &#147;outside directors&#148; as defined in Section 162(m) of the Internal Revenue Code of 1986, as amended (Code), and (iii)
&#147;non-employee directors&#148; for purposes of Rule 16b-3 under the Exchange Act.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Nominating and Governance
Committee</I>. Our board of directors established the nominating and governance committee to ensure that our board is properly constituted to meet its
fiduciary obligations to stockholders and that we have and follow appropriate governance standards. The committee is authorized to assist our board by
identifying prospective director nominees, to select the director nominees for the next annual meeting of stockholders and to develop and recommend to
our board governance principles applicable to us.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our nominating and governance
committee held one meeting during fiscal 2013. Our nominating and governance committee acts under a written charter adopted and approved by our board
of directors, which charter can be found at http://www.copart.com/c2/pdf/nominating_governance_cc.pdf.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The nominating and governance
committee consists of Daniel J. Englander, Matt Blunt and James E. Meeks. Mr. Englander is the chair of our nominating and governance committee. Our
board of directors has determined</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>that each of the members of
our nominating and governance committee were and are (i) &#147;independent directors&#148; as contemplated by NASDAQ rules, (ii) &#147;outside
directors&#148; as defined in Section 162(m) of the Code, and (iii) &#147;non-employee directors&#148; for purposes of Rule 16b-3 under the Exchange
Act.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Compensation Committee Interlocks and Insider
Participation</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The compensation committee of our
board of directors consisted of Messrs. Cohan and Englander from August 1, 2012 until June 4, 2013 and Messrs. Cohan, Englander and Tryforos from June
4, 2013 through the end of fiscal 2013. No member of our compensation committee was, at any time during fiscal 2013, an officer or employee of Copart
or any of our subsidiaries. In addition, no member of our compensation committee had any relationship requiring disclosure under Item 404 of Regulation
S-K promulgated by the SEC at the time such committee member served as a board member and committee member.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">No interlocking relationship, as
described by the SEC, currently exists or existed during fiscal 2013 between any member of our compensation committee and any member of any other
company&#146;s board of directors or compensation committee.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Considerations in Identifying and Evaluating Director
Nominees</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our nominating and governance
committee has established policies and procedures relating to the consideration of any individual recommended as a prospective director nominee from
stockholders. Please see the section entitled &#147;<I>Director Nomination Process</I>&#148; below. The nominating and governance committee will
consider candidates recommended by stockholders in the same manner as candidates recommended to the committee from other sources.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In its evaluation of director
candidates, including the members of the board of directors eligible for reelection, our committee will consider the following:</FONT></DIV></P>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The current size and composition of our board of directors and
the needs of the board and its respective committees;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Factors such as character, integrity, judgment, diversity of
experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like.
Our committee evaluates these factors, among others, and does not assign any particular weighting or priority to any of these factors; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Other factors that our committee may consider
appropriate.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Any nominee for a position on the
board must satisfy the following minimum qualifications:</FONT></DIV></P>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The highest personal and professional ethics and
integrity;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Proven achievement and competence in the nominee&#146;s field
and the ability to exercise sound business judgment;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Skills that are complementary to those of the existing
board;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The ability to assist and support management and make
significant contributions to the company&#146;s success; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">An understanding of the fiduciary responsibilities required of a
member of the board and the commitment of time and energy necessary to diligently carry out those responsibilities.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The nominating and governance
committee considers diversity as one of many, but not dispositive, factors in identifying nominees for director, including personal characteristics
such as race and gender, as well as diversity in the experience and skills that contribute to the board&#146;s performance of its responsibilities in
the oversight of a complex and highly-competitive global business. The nominating and governance committee does not assign specific weights to
particular criteria and no particular criterion is necessarily applicable to all prospective nominees.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If our committee determines that
an additional or replacement director is required, the committee may take such measures as it considers appropriate in connection with its evaluation
of a director candidate, including candidate interviews, inquiry of the person or persons making the recommendation or nomination, engagement of an
outside search firm to gather additional information, or reliance on the knowledge of the members of the committee, board or
management.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Director Nomination Process</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our nominating and governance
committee is responsible for, among other things, determining the criteria for membership to our board of directors and recommending candidates for
election to the board of directors. It is the policy of our nominating and governance committee to consider recommendations for candidates to the board
of directors from stockholders holding not less than one percent (1%) of the outstanding shares of our common stock continuously for at least twelve
(12) months prior to the date of submission of the recommendation or nomination. Stockholder recommendations for candidates to the board of directors
must be directed in writing to Copart, Inc., 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254, Attention: General Counsel, and must include the
candidate&#146;s name, home and business contact information, detailed biographical data, relevant qualifications, a signed letter from the candidate
confirming willingness to serve, information regarding any relationships between the candidate and Copart, and evidence of the recommending
stockholder&#146;s ownership of our stock. Such recommendations must also include a statement from the recommending stockholder in support of the
candidate, particularly within the context of the criteria for board membership, including issues of character, integrity, judgment, diversity of
experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like,
and personal references. For details regarding the process to nominate a director directly for election to the board at an annual meeting of the
stockholders, please see the section entitled &#147;Questions and Answers About the Proxy Materials and Annual Meeting &#151; <I>What is the deadline
to propose actions for consideration at next year&#146;s annual meeting of stockholders or to nominate individuals to serve as directors? &#151;
Nomination of Director Candidates.</I>&#148;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Director Attendance at Annual
Meetings</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Although we do not have a formal
policy regarding attendance at stockholder meetings, our directors are encouraged to attend the annual meeting of stockholders. Three of our directors
attended our 2012 annual meeting of stockholders.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Stockholder Communications with our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our board of directors recommends
that stockholders who wish to communicate directly with our board should do so in writing. Our board of directors has approved the following procedure
for stockholders to communicate with our directors. Mail can be addressed to directors in care of Copart, Inc., Attention: General Counsel, 14185
Dallas Parkway, Suite 300, Dallas, Texas 75254. All mail received will be logged in, opened and screened for security purposes. All mail, other than
trivial or obscene items, will be forwarded. Items will be delivered to our directors at the next scheduled board meeting. Mail addressed to a
particular director will be forwarded or delivered to that director. Mail addressed to &#147;Outside Directors&#148; or &#147;Non-Management
Directors&#148; will be forwarded or delivered to the chairman of our nominating and governance committee. Mail addressed to the &#147;Board of
Directors&#148; will be forwarded or delivered to the chairman of our board and chief executive officer. Our General Counsel may decide in the exercise
of his judgment whether a response to any stockholder communication is necessary.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">This procedure does not apply to
stockholder proposals submitted pursuant to our bylaws and Rule 14a-8 of the Exchange Act, as discussed in this proxy statement under the caption
&#147;<I>What is the deadline to propose actions for consideration at next year&#146;s annual meeting of stockholders or to nominate individuals to
serve as directors?</I>&#148;</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>COMPENSATION OF NON-EMPLOYEE DIRECTORS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our directors play a critical
role in guiding our strategic direction and overseeing our management. In connection therewith, our non-employee directors are eligible to receive cash
and equity compensation. Each non-employee director receives an annual director&#146;s fee of $70,000, payable in quarterly installments. Mr. Cohan,
who serves as chairman of our audit committee, receives an additional annual fee of $10,000 for his services as chairman of our audit committee,
payable in quarterly installments. In addition to cash compensation, pursuant to procedures previously adopted by our board of directors, each
non-employee director (other than newly appointed non-employee directors) receives an annual option grant of 40,000 shares under our 2007 Equity
Incentive Plan, which grant takes place on the date of our annual meeting of stockholders each year. Newly appointed non-employee directors are awarded
an initial grant of shares at the time of appointment and are not eligible for an additional grant until the fiscal year following their appointment.
The directors are also eligible for reimbursement of reasonable and necessary expenses incurred in connection with their attendance at board and
committee meetings.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Johnson is an executive
officer, though not considered one of our named executive officers. As an employee director he does not receive any cash, equity or other compensation
for his service as a member of our board of directors. In that respect, we have not listed him in either table in this section of our proxy
statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table presents
information relating to total compensation paid or accrued for services rendered to us in all capacities by our non-employee directors for the fiscal
year ended July 31, 2013.</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fees Earned<BR>or<BR>Paid in Cash<BR>($)<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option<BR>Awards<BR>($)(1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Total ($)<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matt Blunt </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">70,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">301,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">371,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Steven D. Cohan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">80,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">301,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">381,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Daniel J. Englander </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">70,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">301,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">371,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">James E. Meeks </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">70,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">301,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">371,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas N. Tryforos </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">70,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">70,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Amounts shown represent the aggregate grant date fair values of
awards of stock options granted in fiscal 2013, which were computed in accordance with Financial Accounting Standards Board Accounting Standards
Codification Topic 718, Stock Compensation, as amended, without regard to estimated forfeitures, or, with respect to re-priced options, the incremental
fair value as computed in accordance with FASB ASC Topic 718. There can be no assurances that the amounts disclosed will ever be realized. Assumptions
used in the calculation of these amounts are included in Note 1, &#147;Summary of Significant Accounting Policies &#151; Stock Compensation&#148; to
our consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended July 31, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As of July 31, 2013, the end of
our 2013 fiscal year, the aggregate number of stock options outstanding for each non-employee director was as follows:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Aggregate Number of<BR> Shares Underlying Options<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matt Blunt </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">50,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Steven D. Cohan </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">240,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Daniel J. Englander </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">240,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">James E. Meeks </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">337,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas N. Tryforos </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">40,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under procedures previously
adopted by our board of directors, each member of our board of directors (other than newly appointed non-employee directors) receives an option grant
of 40,000 shares of our common stock on the date of our annual stockholder meeting. On December 5, 2012, the date of our 2012 annual stockholder
meeting,</FONT></DIV></P>
<!-- agabop mode="frill" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">14<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 18 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 19 -->
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>each of Messrs. Blunt, Cohan,
Englander and Meeks were granted options to purchase 40,000 shares of our common stock under our 2007 Equity Incentive Plan as part of their annual
board compensation for fiscal 2013, at an exercise price of $30.02 per share, which was the closing price of our common stock on the NASDAQ on the date
of grant. Fifty percent (50%) of the shares subject to each option vest 12 months from the date of grant and 1/24th of the total number of shares
underlying each option vest each month thereafter, such that the options will be fully vested two years from the date of grant. Vesting of the options
may accelerate if any successor corporation does not assume the options in the event of a change in control.</FONT></DIV></P>
<!-- agabop mode="ep" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">15<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 19 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 20 -->
<!-- agabop mode="main" last-style="text" -->
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>PROPOSAL NUMBER ONE<BR></B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>ELECTION OF DIRECTORS</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>General</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">One of the purposes of our annual
meeting is to elect directors to hold office until the 2014 annual meeting of stockholders or until their respective successors are elected and have
been qualified. At each annual meeting of stockholders, the terms of each of our incumbent directors expires and all members of our board of directors
are elected. Our bylaws permit our board to establish the authorized number of directors within a range from five to nine members. Eight directors are
currently authorized.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Nominees</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our nominating and governance
committee has nominated the eight individuals listed below for election as directors. All of the nominees for election at the annual meeting are
currently our directors. All of the nominees were approved by our nominating and governance committee. Each person nominated for election has agreed to
serve if elected, and we have no reason to believe that any nominee will be unavailable to serve. Unless otherwise instructed, the proxy holders will
vote all submitted proxies FOR the eight nominees named below. In the event that additional persons are nominated for election as directors, the proxy
holders intend to vote all proxies received by them in such a manner (in accordance with cumulative voting) as will ensure the election of as many of
the nominees listed below as possible. In such event, the specific nominees to be voted for will be determined by the proxy holders. Directors must be
elected by a plurality of the votes cast at the annual meeting. Accordingly, the eight candidates receiving the highest number of affirmative votes of
the shares entitled to vote at the annual meeting will be elected to our board of directors.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each of the following nominees is
currently one of our directors. Please see &#147;Biographical Information&#148; below for information concerning each of the following directors
standing for election. Please note that all ages set forth below are as of October 28, 2013.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="33%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="5%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Age<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Position<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TH>
     <TH ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="7%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Director<BR>Since<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Willis J. Johnson</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">66</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Chairman of the Board</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">1982</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">44</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Chief Executive Officer and Director</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">1992</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matt Blunt </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">42</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Director </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">2009</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Steven D. Cohan</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">52</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Director </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">2004</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Daniel J. Englander </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">44</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Director </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">2006</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">James E. Meeks</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">64</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Director </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">1996</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">50</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">President </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">2011</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="33%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas N. Tryforos </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">54</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Director </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="7%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">2012</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Biographical Information</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Willis J. Johnson</B>, founder
of Copart, has, since January 2004, served as chairman of our board of directors. From 1982 until February 2010, Mr. Johnson served as our chief
executive officer and from 1986 until 1995, he also served as our president. Mr. Johnson was an officer and director of U-Pull-It, Inc. (UPI), a
self-service auto dismantler, which he co-founded, from 1982 through September 1994. Mr. Johnson sold his entire interest in UPI in September
1994.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Johnson has over 30 years of
experience in owning and operating auto dismantling companies and has overseen our growth from a single salvage facility in California to 206
facilities in seven countries. As such, he brings to our board significant institutional history as well as extensive knowledge of the industry and our
operations.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>A. Jayson Adair</B> has served
as our chief executive officer since February 2010. From November 1996 to February 2010, Mr. Adair served as our president. From 1995 until 1996, Mr.
Adair served as our executive vice president. From 1990 until 1995, Mr. Adair served as our vice president of sales and operations, and from 1989 to
1990, Mr. Adair served as our manager of operations.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Adair&#146;s considerable
knowledge and understanding of our company and our businesses together with his extensive experience managing crucial aspects of our business provide
our board with significant insight into our businesses and operations.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Matt Blunt</B> served as the
Governor of the State of Missouri from 2005 to 2009. Prior to serving as the Governor of Missouri, Mr. Blunt served as a member of the Missouri General
Assembly from 1999 through 2001 and as Missouri&#146;s Secretary of State from 2001 through his inauguration as Governor in 2005. Since leaving the
Office of the Governor of the State of Missouri, Mr. Blunt has served as a senior advisor to government affairs and financial firms. Since February
2011, Mr. Blunt has served as the president of the American Automobile Policy Council, which represents the public policy interests of Chrysler Group,
LLC, Ford Motor Company, and General Motors Company. He is a 1993 graduate of the United States Naval Academy and received four Navy and Marine Corps
Achievement Medals during his military service as well as numerous other awards.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Blunt brings to our board
extensive experience in government and public policy as a result of his service as the Governor of Missouri, a member of the Missouri General Assembly,
and his military training. As such, he provides our board with a unique and broad perspective on the issues we face.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Steven D. Cohan</B> has served
as the chief executive officer and president and as a director of Loco Ventures, Inc., a privately held company in Northern California, since 1997.
From 1992 to 1994, he served as our vice president of finance and principal accounting officer and, from 1994 to 1996, he served as our vice president
of corporate development. He holds an M.B.A. from the University of San Francisco and a B.A. in Economics from the University of California, Los
Angeles. He is a certified public accountant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Cohan brings to our board of
directors a deep understanding of accounting principles and financial reporting rules and regulations. He acquired this knowledge in the course of
serving as our principal accounting officer and his training as a certified public accountant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Daniel J. Englander</B> is
managing partner of Ursula Capital Partners, an investment management firm that he founded in May 2004. In addition, since 2007, Mr. Englander has
served as a director of America&#146;s Car-Mart, Inc., an automotive retailer based in Bentonville, Arkansas; and he served as a director of
Ambassadors International, a cruise ship operator based in Seattle, Washington from 2009 through May 2011. From October 1994 until January 2004, Mr.
Englander was employed as an investment banker with Allen &amp; Company, a New York-based merchant bank, serving as a Managing Director from September
2002 until his departure. He holds a B.A. from Yale University.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Englander&#146;s background
in investment management and finance enables him to be a valuable resource to our board and to our company with respect to financial and business
issues.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>James E. Meeks</B> served as
our chief operating officer from 1992, when he joined us in connection with our purchase of South Bay Salvage Pool, until his retirement in 2007. From
1995 to 1996, Mr. Meeks also served as our senior vice president and from 1996 until 2007 he served as our executive vice president. From 1986 to 1992,
Mr. Meeks, together with his family, owned and operated the South Bay Salvage Pool, a salvage yard company. From 1991 to 2001, Mr. Meeks was an
officer, director and part owner of CAS &amp; Meeks, Inc., a towing and subhauling service company. On August 1, 2007, Mr. Meeks relinquished the
titles and responsibilities of executive vice president and chief operating officer, and he retired from employment with us on December 31,
2007.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">With over 30 years of experience
in vehicle dismantling business and extensive experience in the subhauling business as well as his knowledge of our businesses and operations, Mr.
Meeks brings to our board deep understanding of many aspects of the salvage market.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Vincent W. Mitz</B> has served
as our president since February 2010. From August 2007 to February 2010, Mr. Mitz served as our executive vice president. From May 1995 until July
2007, Mr. Mitz served as our senior</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>vice president of marketing.
Previously, Mr. Mitz was employed by NER Auction Systems Inc. (NER), an automotive auction company, from 1981 until its acquisition by us in 1995. At
NER, Mr. Mitz held numerous positions, most recently as vice president of sales and operations for NER&#146;s New York region from 1990 to 1993 and
vice president of sales &amp; marketing from 1993 to 1995.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">With over 30 years of experience
in the automotive auction industry, including 17 years with Copart, Mr. Mitz&#146;s understanding of our business, operations, and strategy enables him
to provide significant insight into our business and operations.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Thomas N. Tryforos</B> has
been a private investor since 2005. Between May 1991 and September 2004, Mr. Tryforos was a general partner at Prescott Investors, Inc., a private
investment firm. Mr. Tryforos also serves as a director of Credit Acceptance Corporation, a publicly-traded indirect auto finance company. Mr. Tryforos
received a B.A. from Columbia College in 1981. He received an MBA in accounting and finance from Columbia Business School in 1984.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Mr. Tryforos&#146; significant
experience in investing and financial matters enables him to provide insight and be a valuable resource to our board of directors and our company with
respect to investment and financial matters.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">There are no family relationships
among any of our directors or executive officers, except that A. Jayson Adair is the son-in-law of Willis J. Johnson.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Required Vote</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The eight director nominees
receiving the highest number of affirmative votes of the shares entitled to be voted at the annual meeting, either in person or by proxy, will be
elected as directors at the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Recommendation of our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Our board of directors
unanimously recommends that stockholders vote FOR the election of the eight nominees listed above.</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>* * * * *</B></FONT></DIV></P>
<!-- agabop mode="ep" last-style="h1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>PROPOSAL NUMBER TWO<BR></B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>APPROVAL OF AMENDMENT AND RESTATEMENT OF<BR> 2007 EQUITY
INCENTIVE PLAN</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>General</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are asking our stockholders to
approve an amendment to and restatement of our 2007 Equity Incentive Plan (the &#147;2007 Plan&#148;) to make the following amendments, which were
previously approved by the Board of Directors on October 25, 2013, subject to stockholder approval at our Annual Meeting:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Increase in the number of shares of our common stock reserved
for issuance under the 2007 Plan by 4,000,000 shares. This amount is expected to cover our needs for approximately the next four years based on
historical grant practices; however, future circumstances and business needs may dictate a different result. (Section 3(a) of the 2007
Plan).</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Add reasonable and meaningful limits as to the maximum number of
awards that could be granted in each fiscal year of the Company to its non-employee directors (Section 23).</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are also seeking to re-approve
the material terms of the 2007 Plan to allow us the ability to grant awards that qualify as &#147;performance-based compensation&#148; under Section
162(m) of the Code (&#147;Section 162(m)&#148;). At our 2007 annual meeting of stockholders, our stockholders approved a similar menu of
performance-based compensation measures. Section 162(m) generally denies a corporate tax deduction for annual compensation exceeding $1 million paid to
the chief executive officer and other &#147;covered employees,&#148; as determined under Section 162(m) and applicable guidance. However, certain types
of compensation, including performance-based compensation, are generally excluded from this deductibility limit. To enable us the ability to grant
awards under the 2007 Plan that qualify as &#147;performance-based&#148; within the meaning of Section 162(m), the 2007 Plan limits the sizes of such
awards as further described below. By approving the 2007 Plan, the stockholders will be re-approving, among other things, eligibility requirements for
participation in the Plan, performance measures upon which specific performance goals applicable to certain awards would be based, limits on the
numbers of shares or compensation that could be made to participants, and the other material terms of the 2007 Plan and awards to be granted under the
2007 Plan. If our stockholders approve the amended and restated 2007 Plan, the 2007 Plan administrator may (but is not required to) approve awards
under the 2007 Plan that qualify as &#147;performance-based compensation&#148; under Section 162(m). If our stockholders do not approve the amended and
restated 2007 Plan, our chief executive officer and three most highly compensated officers (other than the chief financial officer) would not be
eligible to receive awards under the 2007 Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Reasons for Voting for the Amendment and Restatement of
the 2007 Equity Incentive Plan</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As reflected in the
&#147;Compensation Philosophy and Program Design&#148; below, equity-based incentive awards are a key component of our compensation philosophy by
allowing us the ability to foster a corporate culture that aligns employee interests with stockholder interests. We believe that the use of
equity-based incentive awards has been a material factor in our success to date, and if our stockholders approve the amendment to and restatement of
the 2007 Plan, we intend to continue the appropriate use of equity awards in the future.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As of October 28, 2013, only
1,642,242 shares were available for issuance under the 2007 Plan, which we have determined would be insufficient to meet our forecasted needs for the
next four years as discussed in greater detail below. We believe that an additional 4,000,000 shares is necessary for us to continue to offer a
competitive equity-based incentive program for the next four years based on historical grant practices and forecasted needs. If the stockholders do not
approve the proposed share increase, we may not be able to continue to offer competitive equity packages to retain our current employees and hire new
employees in future years. This could significantly affect our plans for growth and adversely affect our ability to operate our
business.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The Board of Directors believes
strongly that the approval of the amendment to and restatement of the 2007 Plan is essential to our continued success. In particular, we believe that
our employees are our most valuable assets and that the awards permitted under the 2007 Plan are vital to our ability to attract and retain outstanding
and highly skilled individuals in the extremely competitive labor markets in which we compete. Such awards also are crucial to our ability to motivate
our employees to achieve our goals.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our executive officers and
directors have an interest in the approval of the amendment to and restatement of the 2007 Plan because they are eligible for awards under the 2007
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Key Features of the 2007 Plan</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following is a summary of
some of the key features of the 2007 Plan.</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 2007 Plan allows for the grants of stock options, stock
appreciation rights, restricted stock, restricted stock units, performance units and performance shares and other stock or cash awards as determined by
the 2007 Plan administrator.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each share subject to a stock-settled stock appreciation right
at the time of grant will count as a full share against the 2007 Plan share reserve, rather than only the net shares issued upon exercise of the stock
appreciation right.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Shares used to pay the tax and exercise price of an award will
not become available for future grant or sale under the 2007 Plan.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each award granted with an exercise price that is less than fair
market value will count against the 2007 Plan&#146;s share reserve as two shares for every one share subject to such award.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Stock options and stock appreciation rights may not be granted
with an exercise price less than 100% of the fair market value per share on the date of grant.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 2007 Plan administrator may not, without stockholder
approval, modify or amend an option or stock appreciation right to reduce its exercise price after it has been granted (except as otherwise provided in
the 2007 Plan), or cancel any outstanding option or stock appreciation right and immediately replace it with a new option or stock appreciation right
with a lower exercise price.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 2007 Plan includes reasonable limits as to the maximum
number of shares subject to awards that could be granted in each fiscal year of the Company to non-employee directors.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Summary of the 2007 Equity Incentive
Plan</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following is a summary of the
principal features of the 2007 Plan and its operation. The summary is qualified in its entirety by reference to the 2007 Plan itself set forth in
<B><I>Appendix A</B>.</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The 2007 Plan provides for the
grant of the following types of incentive awards: (i) stock options, (ii) stock appreciation rights, (iii) restricted stock, (iv) restricted stock
units, (v) performance units and performance shares, and (vi) and other stock or cash awards. Each of these is referred to individually as an
&#147;Award.&#148; Those who will be eligible for Awards under the 2007 Plan include employees, directors and consultants who provide services to the
Company and its parent or subsidiaries. As of September 30, 2013, approximately 3,962 of our employees, directors and consultants would be eligible to
participate in the 2007 Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Number of Shares of Common
Stock Available Under the 2007 Plan</I>. The maximum aggregate number of shares that may be awarded and sold under the 2007 Plan is 8,000,000 shares.
The shares may be authorized, but unissued, or reacquired common stock. As of October 28, 2013, 6,357,758 Awards have been granted under the 2007 Plan,
5,013,828 shares were subject to outstanding options, 61,234 shares were subject to outstanding restricted stock awards and 1,642,242 shares were
available for future grants.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Shares subject to Awards granted
with an exercise price less than the fair market value on the date of grant count against the share reserve as two shares for every one share subject
to such an Award. To the extent that a share that was subject to an Award that counted as two shares against the 2007 Plan share reserve pursuant to
the preceding sentence is returned to the 2007 Plan, the 2007 Plan reserve will be credited with two shares that will thereafter be available for
issuance under the 2007 Plan.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If an Award expires or becomes
unexercisable without having been exercised in full, or, with respect to restricted stock, restricted stock units, performance shares or performance
units, is forfeited to or repurchased by the Company, the unpurchased shares (or for Awards other than options and stock appreciation rights, the
forfeited or repurchased shares) which were subject thereto will become available for future grant or sale under the 2007 Plan. Upon exercise of a
stock appreciation right settled in shares, the gross number of shares covered by the exercised portion of the stock appreciation right will cease to
be available under the 2007 Plan. Shares that have actually been issued under the 2007 Plan under any Award will not be returned to the 2007 Plan and
will not become available for future distribution under the 2007 Plan; provided, however, that if shares of restricted stock, restricted stock units,
performance shares or performance units are repurchased by the Company or are forfeited to the Company, such shares will become available for future
grant under the 2007 Plan as described above. Shares used to pay the exercise price of an Award and/or used to satisfy tax withholding obligations will
not become available for future grant or sale under the 2007 Plan. To the extent an Award is paid out in cash rather than stock, such cash payment will
not reduce the number of shares available for issuance under the 2007 Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Effect of Certain Corporate
Events</I>. If we declare a stock dividend or engage in a reorganization or other change in our capital structure, including a merger, the
Administrator will adjust the (i) number and class of shares available for issuance under the 2007 Plan, (ii) number, class and price of shares subject
to outstanding Awards, and (iii) specified per-person limits on Awards to reflect the change.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Administration of the 2007
Plan</I>. The board, or our compensation committee, or a committee of directors or of other individuals satisfying applicable laws and appointed by the
board (referred to as the &#147;Administrator&#148;), will administer the 2007 Plan. To make grants to certain of the Company&#146;s officers and key
employees, the members of the committee must qualify as &#147;non-employee directors&#148; under Rule 16b-3 of the Exchange Act, and as &#147;outside
directors&#148; under Section 162(m) of the Code (so that the Company can receive a federal tax deduction for certain compensation paid under the 2007
Plan). Subject to the terms of the 2007 Plan, the Administrator has the sole discretion to select the employees, consultants, and directors who will
receive Awards, to determine the terms and conditions of Awards, to modify or amend each Award (subject to the restrictions of the 2007 Plan), and to
interpret the provisions of the 2007 Plan and outstanding Awards. The Administrator may, with stockholder approval, implement an exchange program under
which (i) outstanding Awards may be surrendered or cancelled in exchange for Awards of the same type, awards of a different type, or cash, (ii)
participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the
Administrator, and/or (iii) the exercise price of an outstanding Award could be reduced.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Options</I>. The Administrator
is able to grant nonstatutory stock options and incentive stock options under the 2007 Plan. The Administrator determines the number of shares subject
to each option, although the 2007 Plan provides that a participant may not receive options for more than 1,000,000 shares in any fiscal year, except in
connection with his or her initial employment with the Company, in which case he or she may be granted an option covering up to an additional 1,000,000
shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The Administrator determines the
exercise price of options granted under the 2007 Plan, provided the exercise price must be at least equal to the fair market value of our common stock
on the date of grant. In addition, the exercise price of an incentive stock option granted to any participant who owns more than 10% of the total
voting power of all classes of our outstanding stock must be at least 110% of the fair market value of the common stock on the grant
date.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The term of each option will be
stated in the Award agreement. The term of an option may not exceed ten years, except that, with respect to any participant who owns 10% of the voting
power of all classes of the Company&#146;s outstanding capital stock, the term of an incentive stock option may not exceed five years.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">After a termination of service
with the Company, a participant will be able to exercise the vested portion of his or her option for the period of time stated in the Award agreement.
If no such period of time is stated in the participant&#146;s Award agreement, the participant will generally be able to exercise his or her option for
(i) three months following his or her termination for reasons other than death or disability, and (ii) twelve months following his or her termination
due to death or disability. The participant&#146;s Award agreement may also provide that if the exercise of an option following the termination of the
participant&#146;s status as a service provider (other than as a result of the participant&#146;s death or disability) would result in liability under
Section 16(b) of the Exchange Act, then the option</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>will terminate on the earlier
of (i) the expiration of the term of the option, or (ii) the 10th day after the last date on which such exercise would result in such liability under
Section 16(b). The participant&#146;s Award agreement may also provide that if the exercise of an option following the termination of the
participant&#146;s status as a service provider (other than as a result of the participant&#146;s death or disability) would be prohibited because the
issuance of shares would violate securities laws, then the option will terminate on the earlier of (i) the expiration of the term of the option, or
(ii) the expiration of a period of three months after the termination of the participant during which the exercise of the option would not violate
securities laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Restricted Stock</I>. Awards
of restricted stock are rights to acquire or purchase shares of our common stock, which vest in accordance with the terms and conditions established by
the Administrator in its sole discretion. For example, the Administrator may set restrictions based on the achievement of specific performance goals.
The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. The Award agreement generally will
grant the Company a right to repurchase or reacquire the shares upon the termination of the participant&#146;s service with the Company for any reason
(including death or disability). The Administrator will determine the number of shares granted pursuant to an Award of restricted stock, but no
participant will be granted a right to purchase or acquire more than 300,000 shares of restricted stock during any fiscal year, except that a
participant may be granted up to an additional 300,000 shares of restricted stock in connection with his or her initial employment with the
Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Restricted Stock Units</I>.
Awards of restricted stock units result in a payment to a participant only if the vesting criteria the Administrator establishes is satisfied. For
example, the Administrator may set vesting criteria based on the achievement of specific performance goals. The restricted stock units will vest at a
rate determined by the Administrator; provided, however, that after the grant of restricted stock units, the Administrator, in its sole discretion, may
reduce or waive any restrictions for such restricted stock units. Upon satisfying the applicable vesting criteria, the participant will be entitled to
the payout specified in the Award agreement. The Administrator, in its sole discretion, may pay earned restricted stock units in cash, shares, or a
combination thereof. Restricted stock units that are fully paid in cash will not reduce the number of shares available for grant under the 2007 Plan.
On the date set forth in the Award agreement, all unearned restricted stock units will be forfeited to the Company. The Administrator determines the
number of restricted stock units granted to any participant, but during any fiscal year of the Company, no participant may be granted more than 300,000
restricted stock units during any fiscal year, except that the participant may be granted up to an additional 300,000 restricted stock units in
connection with his or her initial employment to the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Stock Appreciation Rights</I>.
The Administrator will be able to grant stock appreciation rights, which are the rights to receive the appreciation in fair market value of common
stock between the exercise date and the date of grant. The Company can pay the appreciation in either cash, shares of common stock, or a combination
thereof. The Administrator, subject to the terms of the 2007 Plan, will have complete discretion to determine the terms and conditions of stock
appreciation rights granted under the 2007 Plan, provided, however, that the exercise price may not be less than 100% of the fair market value of a
share on the date of grant and the term of a stock appreciation right may not exceed ten years. No participant will be granted stock appreciation
rights covering more than 1,000,000 shares during any fiscal year, except that a participant may be granted stock appreciation rights covering up to an
additional 1,000,000 shares in connection with his or her initial employment with the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">After termination of service with
the Company, a participant will be able to exercise the vested portion of his or her stock appreciation right for the period of time stated in the
Award agreement. If no such period of time is stated in a participant&#146;s Award agreement, a participant will generally be able to exercise his or
her vested stock appreciation rights for the same period of time as applies to stock options.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Performance Units and
Performance Shares</I>. The Administrator will be able to grant performance units and performance shares, which are Awards that will result in a
payment to a participant only if the performance goals or other vesting criteria the Administrator may establish are achieved or the Awards otherwise
vest. Earned performance units and performance shares will be paid, in the sole discretion of the Administrator, in the form of cash, shares, or in a
combination thereof. The Administrator will establish performance or other vesting criteria in its discretion, which, depending on the extent to which
they are met, will determine the number and/or the value of performance units and performance shares to be paid out to participants. The performance
units and performance shares will vest at a rate determined by the Administrator; provided, however, that after the grant of a performance unit or
performance share, the Administrator, in its sole discretion, may reduce or waive any performance objectives</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>or other vesting provisions
for such performance unit or performance share. During any fiscal year, no participant will receive more than 300,000 performance shares and no
participant will receive performance units having an initial value greater than $2,000,000, except that a participant may be granted performance shares
covering up to an additional 300,000 shares in connection with his or her initial employment with the Company. Performance units will have an initial
value established by the Administrator on or before the date of grant. Performance shares will have an initial value equal to the fair market value of
a share of our common stock on the grant date.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Performance Goals</I>. Awards
of restricted stock, restricted stock units, performance shares, performance units and other incentives under the 2007 Plan may be made subject to the
attainment of performance goals relating to one or more business criteria within the meaning of Section 162(m) of the Code and may provide for a
targeted level or levels of achievement including: earnings per share, operating cash flow, operating income, profit after-tax, profit before-tax,
return on assets, return on equity, return on sales, revenue, and total stockholder return. The performance goals may differ from participant to
participant and from Award to Award and may be used to measure the performance of the Company as a whole or a business unit of the Company and may be
measured relative to a peer group or index.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To the extent necessary to comply
with the performance-based compensation provisions of Section 162(m), with respect to any award granted subject to performance goals, within the first
25% of the performance period, but in no event more than 90 days following the commencement of any performance period (or such other time as may be
required or permitted by Section 162(m)), the Administrator will, in writing: (i) designate one or more participants to whom an award will be made,
(ii) select the performance goals applicable to the performance period, (iii) establish the performance goals, and amounts of such awards, as
applicable, which may be earned for such performance period, and (iv) specify the relationship between performance goals and the amounts of such
awards, as applicable, to be earned by each participant for such performance period. Following the completion of each performance period, the
Administrator will certify in writing whether the applicable performance goals have been achieved for such performance period. In determining the
amounts earned by a participant, the Administrator will have the right to reduce or eliminate (but not to increase) the amount payable at a given level
of performance to take into account additional factors that the administrator may deem relevant to the assessment of individual or corporate
performance for the performance period. A participant will be eligible to receive payment pursuant to an award for a performance period only if the
performance goals for such period are achieved.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Transferability of Awards</I>.
Awards granted under the 2007 Plan are generally not transferable, and all rights with respect to an Award granted to a participant generally will be
available during a participant&#146;s lifetime only to the participant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Change in Control</I>. In the
event of a merger or change in control of the Company, each outstanding Award will be treated as the Administrator determines, including that each
Award will be assumed or an equivalent option or right substituted by the successor corporation or a parent or subsidiary of the successor corporation.
In the event that the successor corporation, or the parent or subsidiary of the successor corporation, does not assume or substitute for the Award, the
participant will fully vest in and have the right to exercise all of his or her outstanding options or stock appreciation rights, including shares as
to which such Awards would not otherwise be vested or exercisable, all restrictions on restricted stock will lapse, and, with respect to restricted
stock units, performance shares and performance units, all performance goals or other vesting criteria will be deemed achieved at target levels and all
other terms and conditions met. In addition, if an option or stock appreciation right becomes fully vested and exercisable in lieu of assumption or
substitution in the event of a change in control, the Administrator will notify the participant in writing or electronically that the option or stock
appreciation right will be fully vested and exercisable for a period of time determined by the Administrator in its sole discretion, and the option or
stock appreciation right will terminate upon the expiration of such period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Amendment and Termination of
the 2007 Plan</I>. The Administrator will have the authority to amend, alter, suspend or terminate the 2007 Plan, except that stockholder approval will
be required for any amendment to the 2007 Plan to the extent required by any applicable laws. No amendment, alteration, suspension or termination of
the 2007 Plan will impair the rights of any participant, unless mutually agreed otherwise between the participant and the Administrator and which
agreement must be in writing and signed by the participant and the Company. The 2007 Plan will terminate in November 2017, unless the board terminates
it earlier.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Non-Employee Director Award
Limitations</I>. The 2007 Plan limits the number of shares subject to Awards issued to a non-employee director in any fiscal year to 200,000
(increasing to 250,000 in the first year an individual serves as a non-employee director). Any Awards granted to an individual while he or she was an
employee or consultant but not a non-employee director will not count for purposes of this limitation. The Board will adjust these share limitations in
the event of any adjustment to the Company&#146;s shares discussed above (under &#147;Effect of Certain Corporate Events&#148;).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Number of Awards Granted to Employees, Consultants, and
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The number of Awards that an
employee, director or consultant may receive under the 2007 Plan is in the discretion of the Administrator and therefore cannot be determined in
advance. The following table sets forth the aggregate number of shares of common stock subject to options granted under the 2007 Plan during the last
fiscal year, and the average per share exercise price of such options.</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name of Individual or Group<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of<BR>Options Granted<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Average Per<BR>Share Exercise<BR>Price<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All executive officers, as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$29.24</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All directors who are not executive officers, as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">160,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$30.02</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All employees who are not executive officers, as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">75,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$29.89</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Federal Tax Aspects</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following paragraphs are a
summary of the general federal income tax consequences to U.S. taxpayers and the Company of Awards granted under the 2007 Plan. Tax consequences for
any particular individual may be different.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Nonstatutory Stock
Options</I>. No taxable income is reportable when a nonstatutory stock option with an exercise price equal to the fair market value of the underlying
stock on the date of grant is granted to a participant. Upon exercise, the participant will recognize ordinary income in an amount equal to the excess
of the fair market value (on the exercise date) of the shares purchased over the exercise price of the option. Any taxable income recognized in
connection with an option exercise by an employee of the Company is subject to tax withholding by the Company. Any additional gain or loss recognized
upon any later disposition of the shares would be capital gain or loss.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As a result of Section 409A of
the Code and the Treasury regulations promulgated thereunder (&#147;Section 409A&#148;), however, nonstatutory stock options and stock appreciation
rights granted with an exercise price below the fair market value of the underlying stock or with a deferral feature may be taxable to the recipient in
the year of vesting in an amount equal to the difference between the then fair market value of the underlying stock and the exercise price of such
awards and may be subject to an additional 20% federal income tax plus penalties and interest. In addition, certain states, such as California, have
adopted similar tax provisions that provide for additional penalties.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Incentive Stock Options</I>.
No taxable income is reportable when an incentive stock option is granted or exercised (except for purposes of the alternative minimum tax, in which
case taxation is the same as for nonstatutory stock options). If the participant exercises the option and then later sells or otherwise disposes of the
shares more than two years after the grant date and more than one year after the exercise date, the difference between the sale price and the exercise
price will be taxed as capital gain or loss. If the participant exercises the option and then later sells or otherwise disposes of the shares before
the end of the two- or one-year holding periods described above, he or she generally will have ordinary income at the time of the sale equal to the
fair market value of the shares on the exercise date (or the sale price, if less) minus the exercise price of the option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Stock Appreciation Rights</I>.
No taxable income is reportable when a stock appreciation right with an exercise price equal to the fair market value of the underlying stock on the
date of grant is granted to a participant. Upon exercise, the participant will recognize ordinary income in an amount equal to the amount of cash
received and the fair market value of any shares received. Any additional gain or loss recognized upon any later disposition of the shares would be
capital gain or loss.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Restricted Stock</I>,
<I>Restricted Stock Units, Performance Units and Performance Shares</I>. A participant generally will not have taxable income at the time an Award of
restricted stock, restricted stock units, performance shares or performance units are granted. Instead, he or she will recognize ordinary income in the
first taxable year in which his or her interest in the shares underlying the Award becomes either (i) freely transferable, or (ii) no longer subject to
substantial risk of forfeiture. However, the recipient of a restricted stock Award may elect to recognize income at the time he or she receives the
Award in an amount equal to the fair market value of the shares underlying the Award (less any cash paid for the shares) on the date the Award is
granted.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Section 409A</I>. Section 409A
of the Code, which was added by the American Jobs Creation Act of 2004, provides certain new requirements on non-qualified deferred compensation
arrangements. Awards granted under the 1996 Plan with a deferral feature will be subject to the requirements of Section 409A, including discount stock
options and stock appreciation rights discussed above. If an Award is subject to and fails to satisfy the requirements of Section 409A, the recipient
of that award may recognize ordinary income on the amounts deferred under the Award, to the extent vested, which may be prior to when the compensation
is actually or constructively received. Also, if an Award that is subject to Section 409A fails to comply with Section 409A&#146;s provisions, Section
409A imposes an additional 20% federal income tax on compensation recognized as ordinary income, as well as interest on such deferred compensation.
Some states may also apply a penalty tax (for instance, California imposes a 20% penalty tax (which was reduced to 5% effective January 1, 2013) in
addition to the 20% federal penalty tax). The Internal Revenue Service has not issued complete and final guidance under Section 409A and, accordingly,
the requirements of Section 409A (and the application of those requirements to Awards issued under the 2007 Plan) are not entirely clear. <B>We
strongly encourage recipients of such Awards to consult their tax, financial, or other advisor regarding the tax treatment of such
Awards.</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Tax Effect for the
Company</I>. The Company generally will be entitled to a tax deduction in connection with an Award under the 2007 Plan in an amount equal to the
ordinary income realized by a participant and at the time the participant recognizes such income (for example, the exercise of a nonstatutory stock
option). Special rules limit the deductibility of compensation paid to the Company&#146;s chief executive officer (i.e., its principal executive
officer) and to each of its three most highly compensated executive officers for the taxable year (other than the principal executive officer or
principal financial officer). Under Section 162(m) of the Code, the annual compensation paid to any of these specified executives will be deductible
only to the extent that it does not exceed $1,000,000. However, the Company can preserve the deductibility of certain compensation in excess of
$1,000,000 if the conditions of Section 162(m) are met. These conditions include stockholder approval of the 2007 Plan, setting limits on the number of
Awards that any individual may receive and for Awards other than certain stock options, establishing performance criteria that must be met before the
Award actually will vest or be paid. The 2007 Plan has been designed to permit the Administrator (but not require) to grant Awards that are intended to
qualify as performance-based for purposes of satisfying the conditions of Section 162(m), thereby permitting the Company to continue to receive a
federal income tax deduction in connection with such Awards.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">THE FOREGOING IS ONLY A SUMMARY
OF THE EFFECT OF FEDERAL INCOME TAXATION UPON PARTICIPANTS AND THE COMPANY WITH RESPECT TO THE GRANT AND EXERCISE OF AWARDS UNDER THE 2007 PLAN. IT
DOES NOT PURPORT TO BE COMPLETE, AND DOES NOT DISCUSS THE TAX CONSEQUENCES OF A PARTICIPANT&#146;S DEATH OR THE PROVISIONS OF THE INCOME TAX LAWS OF
ANY MUNICIPALITY, STATE OR FOREIGN COUNTRY IN WHICH THE PARTICIPANT MAY RESIDE.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Vote Required</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The approval of the amended and
restated 2007 Plan requires the affirmative vote of a majority of the votes cast on the proposal at the Annual Meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Recommendation of our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Our board of directors
unanimously recommends voting &#147;FOR&#148; the approval of the amendment and restatement of the 2007 Equity Incentive Plan and the number of shares
reserved for issuance thereunder as disclosed in this proxy statement.</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>* * * * *</B></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">25<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>PROPOSAL NUMBER THREE<BR></B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>APPROVAL OF THE GRANT OF STOCK OPTIONS TO<BR> OUR CHIEF
EXECUTIVE OFFICER AND OUR PRESIDENT</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>General</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are seeking your approval to
grant A. Jayson Adair, our chief executive officer, and Vincent W. Mitz, our president, each an option to acquire 2,000,000 and 1,500,000 shares of our
common stock, respectively, on the terms described below. The exercise price of each option is expected to be the closing price of our common stock in
trading on the Nasdaq Global Select Market on December 16, 2013, the date of the Annual Meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If our stockholders approve the
proposal, Mr. Adair and Mr. Mitz have agreed to forego all base salary and cash bonus compensation, other than a base salary of $1.00 per year, for a
five-year period beginning on the initial vesting date of their respective stock option grant. In addition, each has agreed that he will not receive
any additional stock options or other equity incentives during his respective five-year vesting period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If the Annual Meeting is
adjourned to a date later than December 16, 2013, we would expect the effective date of the stock option grants to be the later of the respective
initial vesting date and the date of stockholder approval. In the event of an adjournment of the Annual Meeting to a date within a closed trading
period under our insider trading policy, our compensation committee reserves the right to approve the grant of the options effective as of a future
date falling within an open trading period and to implement the termination of cash compensation (other than $1.00 per year, per executive) upon the
commencement of the respective initial vesting date of the stock option grant. In such event, all relevant terms of the option grants and the cash
compensation would be revised as appropriate to reflect the actual grant date and initial vesting date.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Why have Mr. Adair and Mr. Mitz agreed to forego all
cash and equity compensation (other than $1.00 per year) for five years in exchange for a stock option?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In April 2009, our stockholders
approved the grant of stock options in lieu of cash and additional equity compensation structure to Mr. Adair, our then president, and Willis J.
Johnson, our then chairman and chief executive officer. Given that Mr. Adair&#146;s previously granted stock option will fully vest in April 2014, Mr.
Adair and Mr. Mitz proposed to our compensation committee to continue the grant of stock options in lieu of cash and additional equity compensation
structure for each of them. Our board of directors and compensation committee believe that Mr. Adair and Mr. Mitz&#146; agreement evidences their
extraordinary commitment to continue to grow Copart&#146;s business and increase stockholder value, as well as their strong belief in our business
model and future prospects. Mr. Mitz joined Copart over 18 years ago and has served as our president since 2010. Mr. Adair has spent most of his
working career at Copart, serving as our president between 1996 and 2010 and as our chief executive officer since 2010. Mr. Adair and Mr. Mitz have
been instrumental in Copart&#146;s expansion from a regional salvage company to 206 facilities in seven countries. Our compensation committee believes
this sharing of risk is a strong and unique statement by Mr. Adair and Mr. Mitz. As Mr. Adair and Mr. Mitz develop and execute our corporate growth
initiatives over the next five years, our board of directors and compensation committee believe that these option agreements will serve to align their
individual interests with those of our stockholders to the maximum extent possible. In particular, because the value of the options on exercise will be
directly correlated with the trading price of our common stock, Mr. Adair and Mr. Mitz will have substantial incentives to manage our business in ways
that increase stockholder value.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What happens if the stock option grants are not
approved?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If stockholders do not approve
the stock option grant proposal, we will not grant the stock options. Mr. Adair and Mr. Mitz will remain eligible, during the term of their employment
with Copart, to receive cash compensation (including salary and bonuses) and to be granted equity incentive awards.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Did independent directors of Copart approve this
proposal?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Yes. Our compensation committee,
which consists entirely of &#147;independent directors&#148; within the guidelines established by the Nasdaq Stock Market, LLC, approved the proposal
and the related compensation arrangements. Daniel Englander, James Meeks, and Matt Blunt, who are independent directors, also approved the proposal and
related compensation arrangements.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is the required vote? Will Mr. Adair and Mr.
Mitz be permitted to vote their shares with respect to the proposal?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are required to obtain
stockholder approval of the proposal under the rules of the Nasdaq Stock Market, LLC. Under applicable law, approval of the proposal requires the
affirmative vote of a majority of the shares of our common stock that are present (in person or by proxy) and voting at the Annual
Meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As stockholders, Mr. Adair and
Mr. Mitz would otherwise be entitled to vote their shares at the Annual Meeting. Mr. Adair and Mr. Mitz have determined, however, with the concurrence
of our board of directors, that they will abstain from voting at the Annual Meeting any shares over which they exercise voting
control.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As a result, our compensation
committee and board of directors have determined that the proposal will not be implemented or deemed approved unless it is approved by the affirmative
vote of a majority of the shares of our common stock that are present (in person or by proxy) and voting at the Annual Meeting, excluding the vote of
any shares over which Mr. Adair or Mr. Mitz exercise voting control.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Have our independent directors indicated how they
intend to vote their shares?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each of our independent directors
has indicated he intends to vote any shares over which he exercises voting control FOR the proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How does the size of the option grant compare to
Copart&#146;s total capitalization, and how did the compensation committee determine that the size of the grant was
appropriate?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As of October 28, 2013, we had
125.5 million shares of our common stock outstanding. As a result, Mr. Adair&#146;s stock option grant represents approximately 1.6 percent (1.6%) of
our outstanding common stock and Mr. Mitz&#146; stock option grant represents approximately 1.2 percent (1.2%) of our outstanding common stock. The
compensation committee believed that sizable grants were appropriate to create the proper incentives for Mr. Adair and Mr. Mitz, particularly given
their willingness to forego all cash and equity compensation for five years, other than a base salary of $1.00 per year. The compensation committee
also noted that neither Mr. Adair nor Mr. Mitz will realize value from the options unless the value of the shares underlying the options increases,
which will offset in part the potentially dilutive impact of the options.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What is the term of the options, and how will they
vest? Under what circumstances will vesting accelerate?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each option will have a ten (10)
year term from the date of grant, subject to earlier termination if Mr. Adair or Mr. Mitz, as the case may be, cease to provide services to Copart as
an employee, director, or consultant. If we terminate Mr. Adair or Mr. Mitz as a service provider at any time without &#147;cause,&#148; or they resign
as a service provider for &#147;good reason&#148; upon or following a &#147;change-in-control&#148;, each of them will be able to exercise their option
with respect to all shares for the full term of the option. If either of them is terminated as a service provider for any other reason, including a
voluntary termination, each of them will be able to exercise the option, to the extent vested as of the date of termination, for a period of twelve
months following such termination.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each option will become
exercisable over five years, subject to continued service, with twenty percent (20%) vesting on April 15, 2015, with respect to Mr. Adair, and the
first anniversary of the grant date, with respect to Mr. Mitz, and the balance vesting ratably on a monthly basis over the subsequent four years. Each
option will become fully vested, assuming continued service, on April 15, 2019, with respect to Mr. Adair, and the fifth anniversary of the grant date,
with respect to Mr. Mitz. We currently expect the grant date to be the date of the Annual Meeting.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If prior to a change in control
we terminate either executive&#146;s service without cause, then one hundred percent (100%) of the shares subject to that executive&#146;s stock option
will immediately vest. If upon or following a change in control either we or a successor entity terminates the executive&#146;s service without cause,
or the executive resigns for good reason, then one hundred percent (100%) of the shares subject to his stock option will immediately vest. For more
information about these accelerated vesting provisions, including the definitions of &#147;cause,&#148; &#147;good reason,&#148; and &#147;change in
control,&#148; please see the section captioned &#147;Potential Post-Employment Payments upon Termination or Change in Control&#148; contained in this
proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Will the stock options be granted under Copart&#146;s
2007 Plan?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">No. Our compensation committee
believes this unique compensation structure is a substantial deviation from our typical grant practices under the 2007 Plan. Our compensation committee
elects to grant these options outside our 2007 Plan in order to avoid depleting our share reserve and to permit continued availability of reserves for
grants to other key personnel.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What are the tax effects to Copart of the stock
option grants?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We generally will be entitled to
a tax deduction in connection with the stock options in an amount equal to the ordinary income realized by the executive upon the exercise of the stock
option. While Section 162(m) of the U.S. Tax Code, Section 162(m), generally denies a corporate tax deduction for annual compensation exceeding $1
million to the chief executive officer, Mr. Adair, and to each our three most highly compensated executive officers for the tax year (other than the
chief executive officer and chief financial officer), there is an exception for certain types of compensation that meet the qualifications of
&#147;performance-based&#148; compensation within the meaning of Section 162(m). These qualifications include approval of the stock options and the
individuals eligible to receive such options by an independent compensation committee and the stockholders. The stock options for Mr. Adair and Mr.
Mitz have been structured so that, if approved by our stockholders, they qualify as performance-based compensation for purposes of Section 162(m),
thereby permitting us to receive a full federal tax deduction in connection with them.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What are the accounting consequences to Copart of the
stock option grants?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We will be required to recognize
non-cash compensation expenses related to the stock options equal to their fair value on the date of grant as determined using the Black-Scholes
valuation model, which is a recognized valuation model and the one we use to recognize stock option compensation expense for financial accounting
purposes. The fair value would be recognized as compensation expense ratably over the vesting period of the stock options and reflected as a component
of general and administrative expenses. Based on an assumed share value at the date of grant of $32.69 (the closing price of our common stock on the
record date), current interest and dividend rates, and assumptions concerning volatility and option term, we currently estimate that we would recognize
an annual non-cash stock compensation expense related to the stock option grants of approximately $4,058,680 for Mr. Adair and $3,044,010 for Mr. Mitz,
in addition to any stock compensation expense we recognize for previously granted stock options that continue to vest. However, we will not be able to
determine the final Black-Scholes valuation and the associated compensation expense until the time the options are granted. As a result, the actual
compensation expense we are required to recognize for the stock options could differ materially from our current expectations. Among other factors, the
current trading price of our common stock is a heavily weighted factor in the Black-Scholes valuation model, and differences between the closing price
on the record date and the closing price on the date of grant are among the factors that could result in material differences between our actual and
estimated compensation expense.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How will estimated annual future compensation if the
stockholder proposal is not approved compare to estimated annual future compensation if it is approved (valuing the options based on their
<U>aggregate</U> fair value at the time of grant)?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table provides
information on the average annual compensation we currently estimate paying or expensing for Mr. Adair and Mr. Mitz in each of fiscal years 2014
through 2019 if the stock option grant proposal is <I>not</I> approved as compared to the estimated annual compensation we currently estimate paying or
expensing during the stock option vesting period if the stock option grant proposal is approved.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of estimated
compensation data from fiscal 2014 through fiscal 2019, if the stock option grant proposal is <I><U>not</U></I> approved, we have assumed a base salary
for Mr. Adair of $1,000,000 prorated for fiscal 2014 and increasing to $1,250,000 for fiscal 2019 and for Mr. Mitz increasing from $650,000 for fiscal
2014 to $812,500 for fiscal 2019. We have also assumed increases in annual bonuses from $1,250,000 prorated in fiscal 2014 to $1,562,500 in fiscal 2019
for Mr. Adair and from $600,000 in fiscal 2014 to $787,500 in fiscal 2019 for Mr. Mitz. Finally, we have assumed that the compensation committee
approves grants of options to acquire 300,000 shares of our common stock to Mr. Adair in each year except fiscal 2014, and 200,000 shares of our common
stock to Mr. Mitz in each such fiscal year. Although these assumed stock option grants are larger than the average grants that would have been made to
Mr. Adair and actually made to Mr. Mitz in recent years, our compensation committee strongly believes that options grants effectively align stockholder
and management interests and, as a result, would expect to increase the equity incentive component of Mr. Adair and Mr. Mitz&#146; compensation if the
proposal is not approved by the stockholders.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under both scenarios shown in the
table, the line item identified as &#147;equity compensation&#148; reflects our estimate of the aggregate fair value of stock options at the time of
grant; these values do not reflect the actual compensation expense we would be required to recognize under FASB ASC Topic 718. The estimated future
impact of these grants and prior grants on our general and administrative expenses are reflected in the table included with the question below. The
Black-Scholes valuation relies on numerous assumptions, including the exercise price of the option, the estimated term of the option (which is based on
our historic experience with option grants and not the actual term of the option), stock price volatility, anticipated dividend yield, and applicable
interest rates. The actual fair value of the options will be determined based on circumstances at the time the options are granted, and changes in the
assumptions underlying the Black-Scholes Option Pricing Model can result in material variations in the fair value calculated. For purposes of the table
below, we have assumed, under both scenarios, an option term of 7.1 years, stock price volatility of 24.81%, interest rates of 1.91%, a zero percent
dividend yield, and an exercise price of $32.69, the closing price of our common stock in trading on the Nasdaq Global Select Market on the record
date.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Estimated Average Annual<BR> Compensation if the
Option<BR>Grants are <I>NOT</I> Approved<BR> (FY 2014 through 2019)<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Estimated Average Annual<BR>Compensation if the
Option<BR>Grants are Approved<BR> (FY 2014 through<BR>FY 2019) (2)<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair (1)<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Base Salary </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,007,192</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">731,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">61,074</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">121,719</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Cash Bonuses </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,258,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">693,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">76,341</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">81,627</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Equity Compensation </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,027,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,694,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,989,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,047,013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Total </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,293,997</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,119,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,126,925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,250,359</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As approved by our stockholders in April 2009, Mr. Adair would
become eligible for cash and equity compensation beginning on April 15, 2014.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event this proposal number three is approved by our
stockholders, Mr. Adair would become eligible for cash and equity compensation beginning on April 16, 2019 and Mr. Mitz would become eligible for cash
and equity compensation beginning on December 17, 2018.</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">29<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How will total compensation expense (including both
cash expense and non-cash stock compensation expense) vary in future periods if the stockholder proposal is not approved and if it is
approved?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table provides
estimates of our future total compensation expense, including cash expense and non-cash stock option compensation expense, that would be reflected in
our general and administrative expense under the scenarios where the stock option grants are approved and are <I>not</I> approved. Please note that in
both scenarios, we include stock option compensation expense relating to prior period option grants that will continue to vest during the periods
indicated.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of estimated
compensation expenses if the stockholder proposal is not approved, we have assumed a base salary of $1,000,000 for Mr. Adair prorated in fiscal 2014
and increases in base salary for Mr. Adair to $1,250,000 for fiscal 2019 and an increase in base salary of Mr. Mitz from $650,000 for fiscal 2014 to
$812,500 for fiscal 2019. We have also assumed annual bonuses of $1,250,000 prorated in fiscal 2014 and increases to $1,562,500 in fiscal 2019 for Mr.
Adair and assumed increases in annual bonuses from $600,000 in fiscal 2014 to $787,500 in fiscal 2019 for Mr. Mitz. Finally, we have assumed that the
compensation committee approves grants of options to acquire 300,000 shares of our common stock to Mr. Adair (except in fiscal year 2014) and 200,000
shares of our common stock to Mr. Mitz in each such fiscal year. Although these assumed stock option grants are larger than the average grants that
would have been made to Mr. Adair and actually made to Mr. Mitz in recent years, our compensation committee strongly believes that option grants
effectively align stockholder and management interests and, as a result, would expect to increase the equity incentive component of Mr. Adair and Mr.
Mitz&#146; compensation if the proposal is not approved by the stockholders. For purposes of the period from August 1, 2013 to July 31, 2014, the end
of our 2014 fiscal year, we have prorated salary and bonus compensation based on these assumptions and based on the fact that, as approved by our
stockholders in April 2009, Mr. Adair would become eligible for cash and equity compensation beginning on April 15, 2014.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under the scenarios where the
proposed grants are approved, we have assumed that cash compensation resumes in April 2019, with base salary set at $1,250,000 and an annualized bonus
set at $1,562,500 for Mr. Adair and in December 2018 with base salary set at $812,500 and an annualized bonus set at $787,500 for Mr.
Mitz.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of the following
table, non-cash stock option compensation expense reflects our current estimates of charges that will be reflected under FASB ASC Topic 718, including
with respect to prior period stock option grants that will continue to vest. For additional information about the non-cash stock compensation element
of total compensation expense, please refer to the question immediately following the table below. In the next question, we identify the amount of
non-cash stock compensation expense that is included with total compensation in the table accompanying this question as well as the assumptions
underlying the stock option expense calculations.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=15 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Total Cash and Equity Compensation Expense<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR>approved<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR><I>NOT</I> approved<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR>approved<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR><I>NOT</I> approved<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2014 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,827,445</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,303,252</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,583,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,959,746</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2015 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,681</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,971,302</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,186,357</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,121,882</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2016 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,681</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,692,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,507,614</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,919,007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2017 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,681</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,413,906</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,044,011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,931,272</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2018 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,681</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5,135,208</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,044,011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,407,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2019 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,699,386</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5,247,708</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,136,573</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,375,673</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How will your estimated non-cash stock option
compensation reflected in general and administrative expense differ if the proposed grants are or are not approved?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table provides
estimates of our future stock compensation expense under FASB ASC Topic 718 for Mr. Adair and Mr. Mitz as reflected in general and administrative
expense under the scenarios where the stock option grants are approved and are <I><U>not</U></I> approved. These amounts are included as part of
&#147;Total Compensation&#148; in</FONT></DIV></P>
<!-- agabop mode="frill" last-style="h2i" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">30<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 34 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 35 -->
<!-- agabop mode="main" last-style="h2i" -->
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>the table immediately
preceding this question. Please note that in both scenarios, we include stock option compensation expense relating to prior period option grants that
will continue to vest during the periods indicated.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Estimating future stock option
compensation expense requires us to value stock options under the Black-Scholes Option Pricing Model and then amortize the resulting value over the
relevant vesting period. As noted above, the Black-Scholes model relies on data that can only be determined at the time the grant is made. Our current
estimates of these data could differ materially from those in effect at the time of grant. As a result, our actual compensation expense could differ
materially from that reflected below.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of the following
table, we have assumed that if the stock option grant proposal described in this proxy statement is <I><U>not</U></I> approved, we will grant Mr. Adair
an option to acquire 300,000 shares of common stock in each of fiscal years 2015 to 2019, and Mr. Mitz an option to acquire 200,000 shares of common
stock in each of fiscal years 2014 through 2019. As noted previously, these assumed option grants are larger than our recent grants actually were, or
may have been in the case of Mr. Adair, but consistent with our compensation committee&#146;s expectations concerning the size of future equity
incentives if the stockholder proposal is not approved. We have valued all options for purposes of the table below, including the options subject to
stockholder approval at the Annual Meeting, under the Black-Scholes Option Pricing Model based on the following assumptions: an option term of 7.1
years; stock price volatility of 24.81%; interest rates of 1.91%; a zero percent dividend yield; and an exercise price of $32.69, the closing price of
our common stock in trading on the Nasdaq Global Select Market on the record date.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=15 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Estimated Annual Stock Option Compensation<BR>Expense
Under FAS 123(R)<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR>approved<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR><I>NOT</I> approved<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR>approved<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">If proposed<BR>grants are<BR><I>NOT</I> approved<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2014 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,827,444</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,643,662</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,358,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,709,746</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2015 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">608,802</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,186,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,801,882</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2016 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,217,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,507,613</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,529,007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2017 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,826,406</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,044,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,471,272</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2018 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,058,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,435,208</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,044,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,877,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2019 </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,874,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,435,208</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,141,504</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,775,673</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How can we compare the economic value of the stock
option awards with prior compensation practices?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
believes that direct comparison of our current compensation structure and the proposed stock option grant structure is difficult if not impossible. Mr.
Adair and Mr. Mitz have agreed to forego all their cash and additional equity compensation (other than an annual salary of $1.00 per year for each
officer) over the next five years in exchange for the stock option grants. By doing so, they accept extraordinary compensation risks relating to the
price of our common stock, including systemic market risks that would be unrelated to our actual operating performance. It is possible that Mr. Adair
and Mr. Mitz could realize no value in connection with the stock option grants. However, generally accepted accounting principles require us to
recognize stock compensation expense based on the value of the options on the grant date, and Securities and Exchange Commission rules require us to
disclose these non-cash charges as compensation to the executives, in each case regardless of the ultimate value realized by Mr. Adair or Mr. Mitz. As
a result, our compensation committee believes that a direct comparison of past compensation practices and the stock option proposal is not particularly
meaningful.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Nevertheless, if our stockholders
approve the stock option proposal, as described above, our non-cash compensation expense will increase substantially relative to historic amounts. As
indicated above, the Black-Scholes valuation model, which relies on numerous assumptions, imputes a considerable value to the option rights we propose
to grant and these grants will be reflected as compensation expense in our statement of operations. On the other hand, we will no longer incur any cash
compensation expense for base salaries or cash bonus incentives for Mr. Adair or Mr. Mitz (other than $1.00 per year for each
officer).</FONT></DIV></P>
<!-- agabop mode="frill" last-style="h2i" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">31<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 35 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 36 -->
<!-- agabop mode="main" last-style="h2i" -->
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How does prior cash compensation compare to future
cash compensation under the proposal?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table summarizes
recent base salary and cash bonus payments to Mr. Adair and Mr. Mitz, assuming that for Mr. Mitz, such payments will cease on December 16, 2013 if the
stock option grants are approved and will not be resumed before December 17, 2018 (other than $1.00 each in base salary per year), and for Mr. Adair,
such payments will cease on April 14, 2014 if the stock option grants are approved and will not be resumed before April 14, 2019 (other than $1.00 each
in base salary per year).</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=15 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=15 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">FY 2012<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">FY 2013<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">(Estimate)<BR> FY2014 (1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">April 2014<BR>through<BR> April 2019<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">FY 2012<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">FY 2013<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">(Estimate)<BR> FY2014 (1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">December 2013<BR> through<BR> December 2018<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Base Salary </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">650,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">650,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">225,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Cash Bonuses </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">600,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">600,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Estimates for fiscal year 2014 assume stockholder approval of
proposal three and no new payments of base salary or cash bonuses after April 14, 2014 for Mr. Adair and no further payments of base salary or cash
bonuses after December 16, 2013 for Mr. Mitz. For fiscal 2014, Mr. Mitz&#146; current base salary is $650,000 per year. Mr. Adair&#146;s current base
salary is $1.00 per year, but we estimate would increase to $1,000,000 effective April 15, 2014 if this proposal three is not approved.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What was the aggregate Black-Scholes value at the
time of grant of recent equity incentive awards to Mr. Adair and Mr. Mitz?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table presents
historic information concerning the aggregate fair value at the time of grant for options granted in each of the indicated fiscal years to Mr. Adair
and Mr. Mitz. If the stockholder proposal is approved, no further grants will be made to Mr. Adair prior to April 14, 2019 or Mr. Mitz prior to
December 17, 2018.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="20%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=11 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Adair<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=11 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Mr. Mitz<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="20%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Shares<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Exercise<BR>Price<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Black-Scholes<BR>Value (1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Shares<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Exercise<BR>Price<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Black-Scholes<BR>Value (1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2009</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">15.327</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">27,786,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">80,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19.775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">679,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2010</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">350,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.939</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,553,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2011</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">700,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19.366</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,789,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2012</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">2013</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Reflects the aggregate fair value of stock options at the time of
grant under the Black-Scholes Option Pricing Model, based on the exercise price of the option, the estimated term of the option (which is based on our
historic experience with option grants and not the contractual term of the option), stock price volatility, anticipated dividend yield, and applicable
interest rates. For purposes of fiscal 2009 option grants, we assumed an option term of 6.97&#150;7.11 years, stock price volatility of
35.59%&#150;37.31%, a dividend yield of zero percent, an interest rate of 2.31%&#150;3.05%, and an exercise price of $15.105&#150;$19.775. For purposes
of fiscal 2010 option grants, we assumed an option term of 7.11 years, stock price volatility of 34.74%&#150;36.2%, a dividend yield of zero percent,
an interest rate of 2.98%&#150;3.03%, and an exercise price of $16.43&#150;$17.32. For purposes of fiscal 2011 option grants, we assumed an option term
of 6.75&#150;7.11 years, stock price volatility of 27.818%&#150;30.64%, a dividend yield of zero percent, an interest rate of 1.86%&#150;2.88%, and an
exercise price of $16.38&#150;$20.56.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What other material terms of the stock options should
I understand?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following is a summary of
other principal terms of the stock options. The summary is qualified in its entirety by reference to the form of Stand-Alone Option Agreement attached
to this proxy statement as <B><I>Appendix B</I></B>.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">32<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Administration of the Stock
Options</I>. The compensation committee will administer the stock options. The compensation committee will grant the awards. Each member of our
compensation committee qualifies as a &#147;non-employee director&#148; under Rule 16b-3 of the Securities Exchange Act of 1933, as amended, and as an
&#147;outside director&#148; under Section 162(m) of the Internal Revenue Code so that we can receive a federal tax deduction for certain compensation
paid pursuant to the stock options.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>General</I>. The stock options
will be granted as nonstatutory stock options</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Transferability of Stock
Options</I>. The stock options are not transferable in any manner other than by the laws of descent or distribution, and all rights with respect to a
stock option generally will be available during an executive&#146;s lifetime only to the executive.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Change in Control</I>. In the
event of a merger or change in control, the stock options will be treated as the administrator determines, including that each stock option will be
assumed or an equivalent option or right substituted by the successor corporation or a parent or subsidiary of the successor corporation. In the event
that the successor corporation, or the parent or subsidiary of the successor corporation, does not assume or substitute for the stock options, the
executive will fully vest in and have the right to exercise all of shares subject to the stock option. The administrator will notify the participant in
writing or electronically that the stock option will be fully vested and exercisable for a period of time determined by the administrator in its sole
discretion, and the stock option will terminate upon the expiration of such period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Amendment</I>. Subject to any
stockholder approval requirements that may be imposed by applicable law or the rules of the Nasdaq Global Select Market, the stock options may be
amended with the approval of the compensation committee and the individual executives.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>How many options will Mr. Adair and Mr. Mitz receive
after the effective date of the grants if the stockholder proposal is approved?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">If the stock option proposal is
approved, neither Mr. Adair nor Mr. Mitz will receive any additional stock option grants prior to the fifth anniversary of the initial vesting date of
the stock options. The following is a summary of the number of shares subject to the stock options to be received by Mr. Adair and Mr. Mitz if this
proposal is approved by the stockholders:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name of Individual or Group<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of<BR> Stock Options<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair, CEO </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz, President </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All current executive officers as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All current directors who are not executive officers, as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All employees who are not executive officers, as a group </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The market value of a share of
our common stock as of October 28, 2013, the record date for the Annual Meeting, was $32.69 per share, based on the closing sales price for our common
stock reported on that date on the Nasdaq Global Select Market.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>What are the federal tax aspects of the stock
options?</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following paragraphs
summarize the general federal income tax consequences to U.S. taxpayers and Copart of the stock options. Tax consequences for any particular individual
may be different.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Nonstatutory Stock
Options</I>. No taxable income will be recognized by Mr. Adair or Mr. Mitz when the stock options are granted. Upon exercise, the executives will
recognize ordinary income in an amount equal to the excess of the fair market value on the exercise date of the shares purchased over the exercise
price. Any taxable income recognized in connection with the stock option exercise will be subject to tax withholding by us. Any additional gain or loss
recognized upon any later disposition of the shares would be capital gain or loss.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Tax Effect for Copart</I>. We
generally will be entitled to a tax deduction in connection with the stock options in an amount equal to the ordinary income realized by the executive
upon exercise of the stock option. Special</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">33<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>rules limit the deductibility
of compensation paid to our chief executive officer, Mr. Adair, and to each of our three most highly compensated executive officers for the taxable
year (other than the chief executive officer or chief financial officer). Under Section 162(m) of the Internal Revenue Code, the annual compensation
paid to any of these specified executives will be deductible only to the extent that it does not exceed $1,000,000. However, we can preserve the
deductibility of certain compensation in excess of $1,000,000 if the conditions of Section 162(m) are met. These conditions include stockholder
approval of the stock options. The stock options have been structured so that they qualify as performance-based for purposes of Section 162(m), thereby
permitting us to continue to receive a federal income tax deduction in connection with them.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">THE FOREGOING IS ONLY A SUMMARY
OF THE EFFECT OF FEDERAL INCOME TAXATION UPON EXECUTIVES AND COPART WITH RESPECT TO THE GRANT AND EXERCISE OF THE STOCK OPTIONS. IT DOES NOT PURPORT TO
BE COMPLETE, AND DOES NOT DISCUSS THE TAX CONSEQUENCES OF AN EXECUTIVE&#146;S DEATH OR THE PROVISIONS OF THE INCOME TAX LAWS OF ANY MUNICIPALITY, STATE
OR FOREIGN COUNTRY IN WHICH AN EXECUTIVE MAY RESIDE.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Required Vote</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The approval of option grants to
each of Mr. Adair and Mr. Mitz requires the affirmative vote of a majority of the votes cast on the proposal at the annual meeting.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Recommendation of our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Our board of directors
unanimously recommends that stockholders vote FOR the approval of the option grants to each of Mr. Adair and Mr. Mitz as disclosed in this proxy
statement.</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>* * * * *</B></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">34<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>PROPOSAL NUMBER FOUR<BR></B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>ADVISORY VOTE ON APPROVAL OF EXECUTIVE
COMPENSATION</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>General</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">This year we are asking our
stockholders to cast a non-binding advisory vote to approve the compensation of our named executive officers identified in the Fiscal Year 2013 Summary
Compensation Table in the &#147;Executive Compensation&#148; section of this proxy statement as required by Section 14A of the Exchange Act. Section
14A was added to the Exchange Act by Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The advisory vote
on the approval of executive compensation is a non-binding vote on the compensation of our named executive officers, as described in the
&#147;<I>Compensation Discussion and Analysis</I>&#148; section, the tabular disclosure regarding such compensation, and the accompanying narrative
disclosure, set forth in this proxy statement. The Dodd-Frank Act requires us to hold the non-binding advisory vote on the approval of execution
compensation at least once every three years.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">At our 2012 annual meeting of
stockholders, we provided our stockholders with the opportunity to cast a non-binding advisory vote to approve the compensation of our named executive
officers as disclosed in the proxy statement for our 2012 annual meeting of stockholders, and our stockholders overwhelmingly approved the proposal,
with more than 97% of the votes cast in favor of the proposal to approve the executive compensation of our named executive officers. At our 2011 annual
meeting of stockholders, we also asked our stockholders to indicate if we should hold an advisory vote to approve the compensation of our named
executive officers every one, two, or three years, with our board of directors recommending an annual advisory vote. Because our board of directors
views it as a good corporate governance practice, and because more than 92% of the votes cast were in favor of an annual advisory vote, we are again
asking our stockholders to approve the compensation of our named executive officers as disclosed in this proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Compensation Program and Philosophy</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our executive compensation
program is designed to:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To attract and retain talented and experienced
executives;</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To motivate and reward executives whose knowledge, skills and
performance are critical to our success; and</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To incentivize our executives to manage our business to meet our
long-term objectives and the long-term objectives of our stockholders.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Under this program, our named
executive officers are rewarded for the achievement of specific short-term and long-term goals that enhance stockholder value. Stockholders are urged
to read the Compensation Discussion and Analysis section of this proxy statement, which describes our executive compensation program and contains
information about the fiscal 2013 compensation of our named executive officers. Our compensation committee and our board of directors believe that our
compensation design and practices are effective in implementing our executive compensation goals.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are asking our stockholders to
indicate their support for the compensation of our named executive officers as described in this proxy statement by voting in favor of the following
resolution:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#147;RESOLVED, that the
stockholders approve, on an advisory basis in a non-binding vote, the compensation of Copart, Inc.&#146;s named executive officers as disclosed
pursuant to Item 402 of Securities and Exchange Commission Regulation S-K, including the Compensation Discussion and Analysis, the compensation tables
and narrative disclosures set forth in the proxy statement relating to Copart&#146;s 2013 annual meeting of stockholders.&#148;</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">35<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Required Vote</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The affirmative &#147;FOR&#148;
votes must exceed the votes cast &#147;AGAINST&#148; to approve, on an advisory basis, the compensation awarded to our named executive officers for the
fiscal year ended July 31, 2013. You may vote &#147;FOR,&#148; &#147;AGAINST,&#148; or &#147;ABSTAIN&#148; on this proposal. Abstentions and broker
non-votes are not counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Even though this say-on-pay vote
is advisory and, therefore, will not be binding on us, our compensation committee and our board of directors value the opinions of our stockholders.
Accordingly, to the extent there is a significant vote against the compensation of our named executive officers, we will consider our
stockholders&#146; concerns, and our compensation committee will evaluate what actions may be necessary or appropriate to address those
concerns.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Recommendation of our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Our board of directors
unanimously recommends that stockholders vote FOR the approval of the compensation of our named executive officers as disclosed in this proxy
statement.</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>* * * * *</B></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">36<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>PROPOSAL NUMBER FIVE<BR></B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>RATIFICATION OF APPOINTMENT OF INDEPENDENT<BR> REGISTERED
PUBLIC ACCOUNTING FIRM</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>General</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our audit committee has appointed
Ernst &amp; Young LLP as our independent registered public accounting firm to audit our consolidated financial statements for the current fiscal year
ending July 31, 2014. A representative of Ernst &amp; Young LLP is expected to be present at the annual meeting, will have the opportunity to make a
statement if he or she desires to do so, and will be available to respond to appropriate questions. Stockholder ratification of the appointment of
Ernst &amp; Young LLP is not required by our bylaws or otherwise. Our audit committee is submitting the appointment of Ernst &amp; Young LLP to the
stockholders for ratification as a matter of good corporate practice.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event our stockholders
fail to ratify the appointment of Ernst &amp; Young LLP, our audit committee will reconsider its selection. Even if the selection of the independent
registered public accounting firm is ratified by our stockholders, our audit committee may, in its discretion, direct the appointment of a different
independent registered public accounting firm at any time during the year if it feels that such a change would be in the best interests of the company
and our stockholders.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Vote Required</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The affirmative &#147;FOR&#148;
votes must exceed the votes cast &#147;AGAINST&#148; to approve, on an advisory basis, the compensation awarded to our named executive officers for the
fiscal year ended July 31, 2014. You may vote &#147;FOR,&#148; &#147;AGAINST,&#148; or &#147;ABSTAIN&#148; on this proposal. Abstentions are not
counted as votes &#147;FOR&#148; or &#147;AGAINST&#148; this proposal.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Recommendation of our Board of
Directors</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Our board of directors
unanimously recommends that stockholders vote FOR the ratification of the appointment of Ernst &amp; Young LLP to serve as our independent registered
public accounting firm for the fiscal year ending July 31, 2014.</B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">* * * * *</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 4px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>Auditor Fees and Services</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table sets forth
the aggregate fees for professional services rendered for the audit of our consolidated annual financial statements by our independent registered
public accounting firm, Ernst &amp; Young LLP, for fiscal years ended July 31, 2013 and 2012. The table also includes fees billed for audit services,
audit-related services, tax services and all other services rendered by Ernst &amp; Young LLP for fiscal years ended July 31, 2013 and
2012:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Nature of Service<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year<BR> 2013<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year<BR> 2012<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Audit Fees(1) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,487,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,534,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Audit-Related Fees(2) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Tax Fees(3) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">627,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">167,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">All Other Fees(4) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Total Fees </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,124,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,717,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Audit fees consist of fees billed for professional services
rendered for the audit of our consolidated financial statements and review of our interim consolidated financial statements included in quarterly
reports and services that are normally provided in connection with statutory and regulatory filings or engagements.</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">37<BR></FONT></DIV></P>
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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Audit-related fees consist of fees billed for assurance and
related services that are reasonably related to the performance of the audit or review of our consolidated financial statements and that are not
reported under &#147;Audit Fees.&#148; These services include employee benefit plan audits, accounting consultations in connection with acquisitions,
attest services that are not required by statute or regulation, and consultations concerning financial accounting and reporting standards.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(3)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Tax fees consist of fees billed for professional services for tax
compliance, tax advice and tax planning. These services include assistance regarding federal, state, and international tax compliance, tax audit
defense, customs and duties, mergers and acquisitions, and international tax planning.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(4)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Consists of fees for products and services other than the
services reported above.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Policy on Audit Committee Pre-Approval of Audit and
Permissible Non-Audit Services of Independent Registered Public Accounting Firm</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our audit committee&#146;s policy
is to pre-approve all audit and permissible non-audit services provided by the independent registered public accounting firm (or subsequently approving
audit and permitted non-audit services in those circumstances where a subsequent approval is necessary and permissible). These services may include
audit services, audit-related services, tax services and other services. Pre-approval is generally provided for up to one year. For fiscal years 2013
and 2012, all audit-related fees, tax fees, and all other fees were pre-approved. Our independent registered public accounting firm and management are
required to periodically report to our audit committee regarding the extent of services provided by our independent registered public accounting firm
in accordance with this pre-approval. Our audit committee may also pre-approve particular services on a case-by-case basis. In addition, the charter of
our audit committee provides that our audit committee may delegate to one or more designated members the authority to pre-approve audit and permissible
non-audit services, provided such pre-approval decision is presented to our audit committee at its scheduled meetings.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Report of the Audit Committee</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The audit committee of
Copart&#146;s board of directors consists of Messrs. Cohan, Englander and Blunt. The audit committee has reviewed and discussed with management and
Ernst &amp; Young LLP Copart&#146;s audited consolidated financial statements and financial reporting processes. Copart&#146;s management has the
primary responsibility for Copart&#146;s financial statements and financial reporting processes, including the system of internal controls. Ernst &amp;
Young LLP, Copart&#146;s current independent registered public accounting firm, is responsible for performing an independent audit of Copart&#146;s
consolidated financial statements and for expressing an opinion on the conformity of those financial statements with generally accepted accounting
principles. The audit committee reviews and monitors these processes and receives reports from Ernst &amp; Young LLP and management. The audit
committee also discusses with Ernst &amp; Young LLP the overall scope and plans of their audits, their evaluation of our internal controls, and the
overall quality of Copart&#146;s financial reporting processes.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In accordance with the statement
on Auditing Standards No. 61, as amended (AICPA, <I>Professional Standards</I>, Vol. 1. AU section 380), as adopted by the Public Company Accounting
Oversight Board (PCAOB) in Rule 3200T, the audit committee had discussions with management and the independent registered public accounting firm
regarding the acceptability and the quality of the accounting principles used in the reports. These discussions included the clarity of the disclosures
made therein, the underlying estimates and assumptions used in the financial reporting, and the reasonableness of the significant judgments and
management decisions made in developing the financial statements. In addition, the audit committee has discussed with the independent registered public
accounting firm their independence from Copart and its management and the independent registered public accounting firm provided the written
disclosures and the letter required by the Public Company Accounting Oversight Board Rule 3526, &#147;Communication with Audit Committees Concerning
Independence&#148; and considered the compatibility of non-audit services with the independent registered public accounting firm&#146;s
independence.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">On an annual basis, the audit
committee obtains from the independent registered public accounting firm a written communication delineating all their relationships and professional
services as required by The Public Company Accounting Oversight Board (PCAOB) Rule 3526, &#147;Communication with Audit Committees
Concerning</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">38<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>Independence.&#148; In
addition, the audit committee reviewed with the independent registered public accounting firm the nature and scope of any disclosed relationships or
professional services and took, or recommended that Copart&#146;s board of directors take, appropriate action to ensure the continuing independence of
the independent registered public accounting firm.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Based upon the reviews,
discussions and considerations referred to above, the audit committee has recommended to the board of directors that Copart&#146;s audited consolidated
financial statements be included in Copart&#146;s Annual Report on Form 10-K for fiscal year 2013, and that Ernst &amp; Young LLP be appointed as the
independent registered public accounting firm for Copart for the fiscal year ending July 31, 2014.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Respectfully submitted by:</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">The audit committee of the board of directors</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Steven D. Cohan (chairman)<BR> Daniel J. Englander<BR> Matt Blunt</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>The preceding report of the
audit committee shall not be deemed to be &#147;soliciting material&#148; or to be &#147;filed&#148; with the SEC or subject to Regulation 14A or 14C
(17 CFR 240.14a-1 through 240.14b-2 or 240.14c-1 through 240.14c-101), other than as provided in Item 407(d) of Regulation S-K, or to the liabilities
of section 18 of the Exchange Act (15 U.S.C. 78r), except to the extent we specifically request that the information be treated as soliciting material
or specifically incorporate it by reference into a document filed under the Securities Act or the Exchange Act. Such information will not be deemed to
be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate it by
reference</I>.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">39<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>EXECUTIVE OFFICERS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our executive officers and their ages as of October 28,
2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="20%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="5%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Age<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" WIDTH="50%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Position<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Willis J. Johnson </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">66</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Chairman of the Board</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">44</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Chief Executive Officer and Director</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">50</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">President and Director</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">57</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President and Chief Financial Officer</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Paul A. Styer </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">57</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, General Counsel and Secretary</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">47</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, Sales</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">54</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President and Chief Operating Officer</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas E. Wylie </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">62</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, Human Resources</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent J. Phillips </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">53</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President and Chief Information Officer</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matthew M. Burgener </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">38</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, Marketing</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Anthony F. Cristello </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">44</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, Business Development</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">John Lindle </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">41</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Senior Vice President, Strategic Growth</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="20%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Simon E. Rote </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" WIDTH="5%" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">41</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="50%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">Vice President, Finance</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Willis J. Johnson</B>, founder of Copart, has, since
January 2004, served as chairman of our board of directors. From 1982 until February 2010, Mr. Johnson served as our chief executive officer and from
1986 until 1995, he also served as our president. Mr. Johnson was an officer and director of U-Pull-It, Inc. (UPI), a self-service auto dismantler,
which he co-founded, from 1982 through September 1994. Mr. Johnson sold his entire interest in UPI in September 1994.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>A. Jayson Adair</B> has served as our chief executive
officer since February 2010. From November 1996 to February 2010, Mr. Adair served as our president. From 1995 until 1996, Mr. Adair served as our
executive vice president. From 1990 until 1995, Mr. Adair served as our vice president of sales and operations, and from 1989 to 1990, Mr. Adair served
as our manager of operations.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Vincent W. Mitz</B> has served as our president since
February 2010. From August 2007 to February 2010, Mr. Mitz served as our executive vice president. From May 1995 until July 2007, Mr. Mitz served as
our senior vice president of marketing. Previously, Mr. Mitz was employed by NER Auction Systems Inc. (NER), an automotive auction company, from 1981
until its acquisition by Copart in 1995. At NER, Mr. Mitz held numerous positions, most recently as vice president of sales and operations for
NER&#146;s New York region from 1990 to 1993 and vice president of sales &amp; marketing from 1993 to 1995.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>William E. Franklin</B> has served as our senior vice
president and chief financial officer since March 2004. Mr. Franklin has over 20 years of international finance and executive management experience.
From October 2001 to March 2004, Mr. Franklin served as the chief financial officer of Ptek Holdings, Inc., an international telecommunications
company. Prior to that he was the president and chief executive officer of Clifford Electronics, an international consumer electronics company. Mr.
Franklin received a Master&#146;s degree in Business Administration from the University of Southern California and his Bachelor of Science degree in
Finance from California State University, Bakersfield. Mr. Franklin is a certified public accountant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Paul A. Styer</B> has served as our general counsel
since September 1992, our corporate secretary since October 1993, and our senior vice president since April 1995. From September 1992 until April 1995,
Mr. Styer served as our vice president. Mr. Styer served as one of our directors from September 1992 until October 1993. From August 1990 to September
1992, Mr. Styer conducted an independent law practice. Mr. Styer received a B.A. from the University of California, Davis and a J.D. from the
University of the Pacific. Mr. Styer is a member of the State Bar of California.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Robert H. Vannuccini</B> has served as our senior vice
president, sales since July 2007. From 1999 to 2007, Mr. Vannuccini served as our vice president of national accounts. From 1995 to 1999, Mr.
Vannuccini served as</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>our midwest regional account manager. Prior to that,
Mr. Vannuccini was employed by NER as the midwest regional account manager from 1994 until its acquisition by Copart in 1995. Prior to his experience
at NER, Mr. Vannuccini was an assistant vice president with Fleet Financial Group, a northeastern bank that was acquired by Bank of America, N.A. in
2004, from 1991 to 1994. Mr. Vannuccini received his Bachelor of Business Administration degree in Banking and Finance from Hofstra University,
Hempstead, New York in 1988.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Russell D. Lowy</B> has served as our senior vice
president and chief operating officer since July 2007. From July 2002 to July 2007, Mr. Lowy served as our senior vice president of operations. Mr.
Lowy served as our vice president of operations, eastern division from December 1999 to July 2002. From December 1998 to December 1999, Mr. Lowy served
as our director of training and auditing. Mr. Lowy served as our assistant vice president of operations from 1996 to 1997, regional manager of northern
California from 1995 to 1996, and marketing manager from 1993 to 1994. Prior to joining us, Mr. Lowy spent nine years with ADP &#151; Claims Solutions
Group, a provider of computing services to automobile dealers. Mr. Lowy received a B.S. in Business Administration from California State University,
Chico in 1982.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Thomas E. Wylie</B> has served as our senior vice
president, human resources since November 2003. Mr. Wylie has over 25 years of human resources and organizational change management experience. From
January 2001 to November 2003 he served as vice president, human resources, systems and administration for the California Division of Kaiser
Permanente, a health care organization headquartered in Oakland, California. Prior to that he was the vice president of human resources for global
business services, a division of Honeywell International Inc. (Honeywell), a diversified technology and manufacturing company, in Morristown, New
Jersey. He held several other positions with Honeywell starting in 1979. Mr. Wylie received a Bachelor&#146;s degree from Hamline University in St.
Paul, Minnesota.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Vincent J. Phillips</B> has served as our senior vice
president and chief information officer since April 2010. Prior thereto in 2009, Mr. Phillips was vice president of product development of Charles
River Development, a provider of technology systems and services to the financial industry. From 1989 to 2008, Mr. Phillips was employed by The Charles
Schwab Corporation, an online trading and investing company, most recently as chief executive officer of its subsidiary, Cybertrader, Inc. Mr. Phillips
received a Bachelor&#146;s degree from the University of California, San Diego.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Matthew M. Burgener</B> has served as our senior vice
president, marketing since July 2011. Mr. Burgener has over 12 years of digital marketing and ecommerce experience. From 2008 to July 2011, he was
senior vice president of Digital Marketing at Bank of America, N.A., and from 2006 to 2007, Mr. Burgener was the vice president, eCommerce Sales and
Fulfillment at Bank of America, N.A. From 2004 to 2006, Mr. Burgener was the senior marketing manager for LendingTree, LLC, an online home mortgage
marketplace. Mr. Burgener received a Master&#146;s degree in Business Administration from the University of Virginia&#146;s Darden School of Business
and a Bachelor&#146;s degree from Colby College.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Anthony F. Cristello</B> has served as our senior vice
president, business development since March 2012. From January 2010 to February 2012, Mr. Cristello served as managing director-head of consumer
research group at BB&amp;T Capital Markets (BBT), a part of BB&amp;T Corporation, publicly traded financial services holding company. From April 2005
to December 2009, Mr. Cristello served as senior vice president, equity analyst at BBT and from November 2000 through April 2005, he served as vice
president, equity analyst at BBT. Mr. Cristello received a Bachelor&#146;s degree from Virginia Commonwealth University.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>John Lindle</B> has served as our senior vice president,
strategic growth since June 2013. Mr. Lindle co-founded QCSA, a vehicle remarketing company, in 1999, and served as its president, chief executive
officer and as a member of its board of directors, until we acquired QCSA in June 2013. Prior to that Mr. Lindle spent his time in the body shop
industry from 1990 to 1999.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Simon E. Rote</B> has served as our vice president of
finance since March 2003. Prior thereto, Mr. Rote served as our controller from December 1998 to March 2003, and as our assistant controller from
December 1997 to December 1998. Mr. Rote was an auditor with KPMG LLP, an auditing and tax advisory firm, from 1994 to 1997. Mr. Rote received a B.S.
in Accounting from St. Mary&#146;s College in 1994.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">41<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our executive officers are elected by our board of
directors and serve at the discretion of our board. There are no family relationships among any of our directors or executive officers, except that A.
Jayson Adair is the son-in-law of Willis J. Johnson.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">42<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>EXECUTIVE COMPENSATION</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Forward-Looking Statements</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>This proxy statement,
including the section entitled &#147;Compensation Discussion and Analysis&#148; set forth below, contains &#147;forward-looking statements&#148; within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements are based on our current expectations
and involve risks and uncertainties, which may cause our actual results to differ materially from those anticipated by forward-looking statements. The
forward-looking statements may include statements regarding actions to be taken by us in the future. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements should be evaluated together
with the many uncertainties that affect our business, particularly those mentioned in the section on forward-looking statements and in the risk factors
in Item 1A of our Annual Report on Form 10-K for the fiscal year ended July 31, 2013 and in our periodic reports on Form 10-Q and current reports on
Form 8-K as filed with the SEC.</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Compensation Discussion and
Analysis</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Overview of Executive
Compensation Programs</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">This section of our proxy
statement provides an overview of our executive compensation programs, the material decisions we have made with respect to each element of our
executive compensation program, and the material factors we considered when making those decisions. Following this discussion, you will find further
information in the executive compensation tables about the compensation earned by or paid to each of our &#147;named executive officers,&#148;
including details of fiscal 2013 compensation of our named executive officers in the Fiscal Year 2013 Summary Compensation Table. Currently, we have
thirteen executive officers, five of which are our named executive officers. For fiscal 2013, our named executive officers consist of (i) our chief
executive officer, (ii) our chief financial officer, and (iii) our three most highly compensated executive officers other than our chief executive
officer and chief financial officer, each of whom was serving as an executive officer on July 31, 2013, the end of our 2013 fiscal year. For fiscal
2013, our named executive officers were A. Jayson Adair, our chief executive officer; William E. Franklin, our chief financial officer; Vincent W.
Mitz, our president; Robert H. Vannuccini, our senior vice president, sales; and Russell D. Lowy, our senior vice president and chief operating
officer.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Role of Our Compensation
Committee</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The compensation committee of our
board of directors administers our executive compensation programs. The compensation committee seeks to ensure that the total compensation paid to our
executive officers is fair and reasonable, and serves the best interests of Copart and our stockholders. In carrying out its responsibilities, the
committee:</FONT></DIV></P>
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     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Participates in the continuing development of, and reviews and
approves changes in, our compensation policies;</FONT></TD>
</TR>
</TABLE>
<BR>
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     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Reviews and approves each element of executive compensation,
taking into consideration management recommendations; and</FONT></TD>
</TR>
</TABLE>
<BR>
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     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Administers our equity incentive plans, for which it retains
authority to approve grants of awards to any of our executive officers.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In addition, the charter of our
compensation committee provides that our compensation committee may form and delegate authority to subcommittees when appropriate.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
consisted of Messrs. Cohan and Englander from August 1, 2012 until June 4, 2013 and Messrs. Cohan, Englander and Tryforos from June 4, 2013 through the
end of fiscal 2013. Our board of directors has determined that each of the foregoing members of the compensation committee were or are
an</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>independent director under
NASDAQ rules, an &#147;outside director&#148; for purposes of Section 162(m) of the Internal Revenue Code, and a &#147;non-employee director&#148; for
purposes of Rule 16b-3 under the Exchange Act.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
operates according to a charter that details its specific duties and responsibilities. A copy of the charter is available in the Investor Relations
section of our corporate website at http://www.copart.com/c2/pdf/compensation_cc.pdf.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Role of Management in Compensation
Process</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our chief executive officer,
president, chief financial officer, and senior vice president of human resources support our compensation committee&#146;s work by providing our
compensation committee with information related to our financial plans, performance assessments of our executive officers, and other personnel-related
data.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each executive officer
participates in our annual goal-setting and performance measurement process applicable to all employees. As part of this annual process, each executive
officer proposes qualitative, individual goals and objectives for the coming fiscal year that are intended to promote continuing organizational and
process improvements and contribute to our financial strength. These proposed goals are then reviewed with each executive officer, and are subsequently
approved following that review, by our chief executive officer and our president. Our compensation committee does not participate in the setting of
qualitative goals and objectives for our executive officers. Each officer&#146;s goals are specifically tailored to his or her function and may vary
from year to year. Our chief executive officer, as the person to whom our other officers directly report, is responsible for evaluating individual
officers&#146; contributions to corporate objectives as well as their performance relative to individual objectives. Assessment of individual
performance may include objective criteria, such as the execution of projects in a timely manner, but is largely subjective.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Following the end of each fiscal
year and after the completion of the performance measurement process described above, our chairman and chief executive officer make recommendations to
our compensation committee with respect to all elements of compensation for each of our executive officers other than themselves. Our compensation
committee then discusses these recommendations, first with the chairman and chief executive officer present and then in executive session without
members of management present. Members of management do not participate in final determinations of their own compensation. Our compensation committee
is solely responsible for the final approval of all forms of executive compensation and, while the committee considers the recommendations of
management, it does not always follow those recommendations.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee has
the authority under its charter to engage the services of outside advisors for assistance. Our compensation committee has neither relied on nor has it
retained outside advisors for purposes of making determinations with respect to executive compensation.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Compensation Philosophy and Program
Design</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The principal objectives of our
compensation and benefits programs for executive officers are to:</FONT></DIV></P>
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     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Attract and retain senior executive management;</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Motivate their performance toward corporate objectives;
and</FONT></TD>
</TR>
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<BR>
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     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
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     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Align their long-term interests with those of our
stockholders.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
believes that maintaining and improving the quality and skills of our management team and appropriately providing incentives for their performance are
critical factors that will affect the long-term value realized by our stockholders.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As further described below,
compensation for our executive officers has historically consisted of four main elements: base salary, cash bonus, equity-based incentive awards, and
benefits and perquisites. Other than with respect to Mr. Adair, whose equity compensation program is described below, our compensation committee has
not adopted any formal or informal policies or guidelines for allocating compensation between cash and equity compensation or among different forms of
non-equity compensation for our executive officers. Our compensation committee believes that a substantial portion of an executive officer&#146;s
compensation should be performance-based,</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>whether in the form of cash
bonus or equity compensation. We consider &#147;performance-based&#148; compensation to be the portion of an executive&#146;s total compensation that
is determined based on the executive&#146;s individual contribution to our strategic goals and operating results, as in the case of discretionary cash
bonuses and equity awarded in recognition of individual performance. As discussed below, Mr. Adair&#146;s compensation program is entirely performance
based as his ability to realize any material compensation from us during the five year period from April 2009 to April 2014 depends on the market price
performance of our common stock. Our other executive officers also participate in our equity compensation programs, and we have historically paid
discretionary cash bonuses based principally on the recommendation of our chief executive officer and largely subjective reviews by our compensation
committee of corporate and individual performance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Historically, we have not
determined our compensation levels based on specific peer company benchmarks or analyses prepared by outside compensation consultants. Rather, our
compensation committee has based its determinations on the committee&#146;s collective assessment of quantitative, as well as subjective, factors
relating to corporate and individual performance and on the committee&#146;s experience and view of appropriate levels of compensation in light of our
size, operating budgets, the historically increasing scope of our operations, including its increased geographic scope, and the responsibilities and
performance of the individual officer.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
traditionally makes its determinations concerning base salary, cash bonuses and additional equity incentive awards annually after the end of each
fiscal year, based on a review of our financial performance during the prior fiscal year, as measured against the operating plan approved by the board
of directors for the applicable fiscal year, each individual officer&#146;s contribution toward that performance, and the recommendations of our
chairman and chief executive officer.&nbsp;Although the committee has historically not identified specific financial performance targets, its annual
analysis has focused on quantitative factors such as trends in our revenues and earnings per share. Our compensation committee does not take a
formulaic approach to setting compensation for our executive officers, but does consider whether we have met or exceeded our operating plan for a
particular fiscal year when making its determinations of appropriate levels of compensation for our executive officers. The committee also reviews
subjective factors such as the growth in the scope of our operations, our performance in effectively integrating acquisitions, and our performance in
implementing key corporate strategic initiatives.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our compensation committee
believes that our historic levels of executive compensation have been reasonable and appropriate in light of the size of our business, both financially
and operationally, the substantial contribution of our long-tenured executive team in contributing to our historical growth, and the need to retain our
key executive officers who have substantial levels of industry and Copart-specific experience. With the exception of our chief financial officer, who
has been employed with us for over nine and one-half years, each of our named executive officers has been employed with us for over a decade and with
either us or a company we acquired for tenures ranging from 19 to over 30 years.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>2012 Advisory Stockholder Vote
on Executive Compensation</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We value the opinions of our
stockholders, and, as noted above, our compensation committee considers whether our executive compensation serves the best interests of our
stockholders. In that respect, as part of its ongoing review of our executive compensation, the compensation committee considered the results of our
2012 say-on-pay vote. At our 2012 annual meeting of stockholders, more than 97% of the votes cast on the say-on-pay proposal were in favor of the
executive compensation of our named executive officers described in last year&#146;s proxy statement. In light of this strong stockholder support, our
compensation committee affirmed our general principles and objectives relating to executive compensation and continues to apply such principles and
objectives to our executive compensation program.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Compensation of Mr. Adair</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In 2008, Willis J. Johnson, then
our chairman and chief executive officer, and Mr. Adair, then our president, presented our compensation committee with a proposal for a compensation
arrangement in which they would forego all salary and bonus compensation, other than $1.00 per year, in exchange for a sizable stock option grant. In
addition, they would agree to forego any additional equity incentives until the options were fully vested. Our</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>compensation committee
believed the proposal demonstrated an extraordinary commitment to us and our stockholders by our senior management and offered strong evidence of their
conviction concerning our strategy and prospects.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Over the course of the next
several months, members of our compensation committee, individually among themselves and in periodic meetings, further discussed management&#146;s
proposal concerning equity in lieu of cash and other equity compensation. Mr. Johnson and Mr. Adair participated in several, but not all, of these
discussions. Among the factors discussed and considered by our compensation committee in making its final determination were the
following:</FONT></DIV></P>
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SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The extent to which the proposal achieved our compensation
committee&#146;s objective of aligning management interests with stockholder interests;</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The accounting implications and associated non-cash compensation
expense of the equity proposal as compared to the cash and non-cash compensation expense that would result from continuing current compensation
arrangements;</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The impact of the equity proposal on our cash position relative
to the anticipated impact of continuing current compensation arrangements; and</FONT></TD>
</TR>
</TABLE>
<BR>
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<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The terms and conditions of the equity incentive, including
whether it consisted of stock options or restricted stock and the vesting terms and conditions of the proposed equity issuance.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Following extensive analysis and
discussions among our compensation committee members, our compensation committee met and approved a stock option in lieu of cash or additional equity
compensation program for Mr. Johnson and Mr. Adair on March 4, 2009. Specifically, subject to stockholder approval, our compensation committee and
board of directors, excluding Mr. Johnson and Mr. Adair, approved the grant of a non-qualified stock option to each of Mr. Johnson and Mr. Adair on the
following terms:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Number of Shares<BR></B></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Subject to Option</B> </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">4,000,000 (1) shares of our common stock for each of Mr. Johnson and Mr. Adair.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Exercise Price </B></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Equal to the closing price of our common stock in trading on the NASDAQ on the date of grant.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Vesting </B></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">20% of the shares become exercisable on the first anniversary of the date of grant; the balance of the shares become exercisable on a
monthly basis over 48 months at the rate of 66,666 shares per month.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Vesting Acceleration Triggers </B></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Upon a termination of the officer&#146;s employment by us without cause (as defined) before or following a change in control or
resignation for good reason (as defined) following a change in control, the option would become fully vested.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="25%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Option Term</B> </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="JUSTIFY" WIDTH="75%" COLSPAN="3"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">10 years; provided that in the event of a voluntary termination (other than for good reason following a change-in-control) or
involuntary termination for cause at any time, to the extent vested, within twelve (12) months of the date of termination.</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Throughout this proxy statement all share and per share amounts
have been adjusted as appropriate to reflect our two-for-one stock split effected in the form of a stock dividend, which was distributed after close of
trading on March 28, 2012 to our stockholders of record as of March 23, 2012.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">On April 14, 2009, our
stockholders (with Messrs. Johnson and Adair abstaining from the vote) approved the equity grants for Messrs. Johnson and Adair described above, and
each was granted an option to purchase 4,000,000 shares of our common stock on the terms and conditions set forth above with an exercise price of
$15.11 per share,</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">46<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>which equaled the fair market
value of our common stock on the date of grant. As a result, Messrs. Johnson and Adair are not eligible to be considered for any additional
compensation other than their salaries of $1.00 per year and appropriate benefits and perquisites during the five-year vesting term of the stock
options.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Principal Components of Executive
Compensation</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following discussion outlines
the principal elements of executive compensation for our named executive officers other than Mr. Adair.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Base
Salary</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We pay an annual base salary to
each of our executive officers (other than Messrs. Johnson and Adair) in order to provide them with a fixed rate of cash compensation during the year.
Base salary for our executive officers reflects the scope of their respective responsibilities, seniority, and competitive market factors. Salary
adjustments are determined by our compensation committee, generally following its review of recommendations from the chairman and chief executive
officer. Any adjustments are made following consideration of competitive factors, our overall financial results, our budget requirements and the
committee&#146;s assessment of individual performance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>2013 Base Salary</I>. In
October 2012, our compensation committee met to review base salaries for the named executive officers and approved base salaries for our named
executive officers for fiscal 2013. At that meeting, the committee determined that it would increase base salaries because of the increased
responsibilities with respect to international operations and increased unit volume in North America. The compensation committee did not increase the
base salary of Mr. Mitz as it determined the overall compensation package provided to him was competitive. The compensation committee did not rely on
any formal compensation survey data in making its assessment.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>2014 Base Salary</I>. Our
compensation committee met again in October 2013, in part to consider executive officer base salaries for fiscal 2014. At that meeting, the committee
determined that it would increase base salaries because of the increased responsibilities following our QCSA acquisition. The base salary increases
were made retroactive to September 27, 2013. The compensation committee did not increase the base salary of Mr. Mitz as it determined the overall
compensation package provided to him was competitive. The compensation committee did not rely on any formal compensation survey data in making its
assessment.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table presents base
salary information for the named executive officers for fiscal year 2013 and 2014:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Named Executive Officer<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">2013<BR> Base Salary<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">2014<BR> Base Salary<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Change<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(1)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">650,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">225,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(1)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">325,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">345,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6.2</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">275,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">295,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7.3</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">290,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">310,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6.9</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Estimates for fiscal year 2014 assume stockholder approval of
proposal three and no new payments of base salary or cash bonuses after April 14, 2014 for Mr. Adair and no further payments of base salary or cash
bonuses after December 16, 2013 for Mr. Mitz. For fiscal 2014, Mr. Mitz&#146; current base salary is $650,000 per year. Mr. Adair&#146;s current base
salary is $1.00 per year, but we estimate would increase to $1,000,000 effective April 15, 2014 if proposal three is not approved.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Discretionary Cash
Bonuses</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our annual discretionary cash
bonus program for our officers and other employees is designed to reward performance that has furthered key corporate objectives, including financial
objectives and those based on individual contributions to strategic initiatives.</FONT></DIV></P>
<!-- agabop mode="frill" last-style="h3" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">47<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We did not adopt a formal bonus
plan for or during fiscal 2013 and do not expect to adopt any formal program for fiscal 2014. As a result, for fiscal 2013, our bonus program consisted
of discretionary bonuses as determined by our compensation committee. In October 2013, as part of its annual review of executive compensation, our
compensation committee met to consider cash bonus awards for our named executive officers.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We believe the use of a
discretionary bonus program provides our compensation committee with the flexibility needed to address pay-for-performance as well as recruiting and
retention goals. The amount of a discretionary bonus, if any, to be awarded to an executive officer is based on our compensation committee&#146;s
review of individual and corporate performance and the recommendations of our chief executive officer.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In determining fiscal 2013 cash
bonus awards for our named executive officers (other than Mr. Adair), our compensation committee considered individual contributions to corporate
financial and business performance during fiscal 2013, including our operating results, expense management initiatives, the recently completed
acquisition of QCSA and corporate business development projects. For the benefit of the committee, Mr. Adair reviewed each individual officer&#146;s
performance relative to the categories, with specific discussion of how individual functional areas contributed to the larger corporate strategic
objectives. Mr. Mitz&#146;s performance was principally evaluated by our compensation committee with respect to objectives relating to development of
our strategic goals and performance objectives for our executive officers as well as his role in reducing expenses and developing the Company&#146;s
programs to increase revenues across all areas of our business. Mr. Franklin&#146;s performance was principally evaluated with respect to objectives
relating to the development of associates in our corporate finance function, financial reporting to the board and audit committee, and expense
management. Mr. Vannuccini&#146;s performance was principally evaluated with respect to revenue growth. Mr. Lowy&#146;s performance was evaluated
largely with respect to factors relating to facility condition, management of new accounts, and cost control at our facility level and per car detail,
as well as his ability to reduce expenses of our field operations and administer and manage the field operations budget. The compensation committee
determined that the increase in bonus amounts from fiscal 2012 to fiscal 2013 were appropriate in light of recommendations made by the chief executive
officer with respect to reviews of the individual performance of each named executive officer, increased responsibilities of each named executive
officer with respect to international operations and unit volume in North America and the lack of equity grants for fiscal 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Based on its review of these
factors with our chief executive officer the compensation committee approved the following cash bonuses for our named executive
officers:</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Named Executive Officer<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal Year 2013<BR> Cash Bonus Amount<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&#151;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$600,000</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$349,422</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$314,603</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$268,583</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Equity-Based
Incentives</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We grant equity-based incentives
to certain employees, including our executive officers, in order to foster a corporate culture that aligns employee interests with stockholder
interests. Our equity incentive plans have provided the principal method for our executive officers to acquire an equity position in our company.
Following approval by the stockholders of the option grant to Mr. Adair, our compensation committee deemed him ineligible to be awarded any additional
equity compensation for the five year period ending on April 14, 2014.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">While we have not adopted any
specific stock ownership guidelines for our executive officers or directors, our executive officers and directors do own a substantial portion of our
common stock. As part of our insider trading policy we prohibit any member of the board of directors, officer, employee, consultant or other person
associated with us from trading in any interest or position relating to the future price of our securities, such as a put, call or short sale, or using
our stock as collateral for margin loans.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">48<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Only our compensation committee
is authorized to grant awards to our executive officers under our equity incentive plans. With respect to executive officers, our practice has been to
grant options to executive officers on an annual basis as part of the annual review process immediately after the end of each fiscal year, although we
have not always granted annual option awards to our executive officers. Generally, in making its determination concerning additional option grants, our
compensation committee considers individual performance, competitive factors, the individual&#146;s current level of compensation and equity
participation, and the recommendations of our chairman and chief executive officer.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To date, our equity incentive
awards to executive officers have been granted primarily with time-based vesting. Our option grants typically vest over a five-year period with 20% of
the shares vesting on the one-year anniversary of the date of grant and the remaining shares vesting in equal monthly installments over the remaining
four years. Although our practice in recent years has been to provide equity incentives to executives in the form of stock option grants that vest over
time, our compensation committee may in the future consider alternative forms of equity grants, such as performance shares, restricted stock units,
restricted stock awards or other forms of equity grants as allowed under our 2007 Equity Incentive Plan, with vesting of awards based on the
achievement of performance milestones or financial metrics.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Generally, our compensation
committee considers, and, if it determines appropriate, approves option grants for our executive officers following the end of each fiscal year. Our
compensation committee determines the size of these grants based on a number of subjective factors, including the individual executive officer&#146;s
contribution to our performance in the prior fiscal year, and less subjective factors such as the relative vested versus unvested equity position of
the individual executive.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In October 2013, as part of its
annual review of executive compensation, our compensation committee met and discussed the potential grant of stock options to our named executive
officers. Although the committee took no action, the committee plans to meet in the future to discuss the potential grant of stock options to our named
executive officers, which have traditionally been made on a bi-annual basis. The last grants to our named executive officers were made in March
2011.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Benefits and
Perquisites</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We provide the following benefits
to our named executive officers, including Mr. Adair, generally on the same basis provided to our other employees: health, dental and vision insurance,
medical and dependent care flexible spending account, short- and long-term disability insurance, accidental death and dismemberment insurance, and a
401(k) plan. We match employee contributions to the 401(k) plan at a rate of 20% of the first 15% of earnings per employee, up to a maximum of $3,500
for fiscal 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We provide Messrs. Johnson, Adair
and Mitz with company-owned automobiles that may be used for personal purposes and Mr. Franklin, Mr. Lowy, and Mr. Vannuccini with a monthly automobile
expense allowance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Please see the column entitled
&#147;All Other Compensation&#148; in the summary compensation table set forth in this proxy statement for the amounts attributable to each named
executive officer with respect to benefits and perquisites.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Other Considerations:</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Post-Employment
Obligations</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each of our executives is an
&#147;at will&#148; employee, and we are not party to written employment agreements with our named executive officers, other than with Mr. Franklin,
our chief financial officer, whose agreement provides, under certain circumstances, for certain payments upon involuntary termination of employment or
resignation for &#147;good reason&#148; (as defined in the agreement). In addition, we have entered into similar agreements with Thomas Wylie, our
senior vice president of human resources, Vincent Phillips, our senior vice president of information technology, and Matthew Burgener, our senior vice
president of marketing. Our compensation committee believes the terms of these agreements are fair and reasonable and are in our best interests and in
the best interests of our stockholders. For a description of the material terms of these agreements, please see &#147;Employment Contracts
and</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">49<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>Severance Arrangements with
Executive Officers&#148; in the section entitled &#147;Potential Post-Employment Payments Upon Termination or Change in Control&#148; included in this
proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Tax Deductibility of
Compensation</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Section 162(m) of the Code limits
the tax deductibility of non-performance based compensation paid to our chief executive officer and to each of our three most highly compensated
officers (other than our chief executive officer and chief financial officer) to $1 million per person per year, unless certain exemption requirements
are satisfied. Exemptions to this deductibility limit may be made for various forms of &#147;performance-based&#148; compensation that are approved by
our stockholders. As described in &#147;Proposal 2&#148; described above, we are seeking re-approval of the material terms of the 2007 Plan to allow us
the ability to grant awards that qualify as a &#147;performance-based&#148; compensation under Section 162(m) and preserve our ability to take a tax
deduction for compensation recognized in connection with awards granted under these plans in excess of $1 million per year. We may from time to time
pay compensation or grant equity awards to our executive officers, however, that may not be deductible when, for example, we believe that such
compensation is appropriate and in the best interests of our stockholders, after taking into consideration changing business conditions and/or the
executive officer&#146;s performance. In addition, as described in &#147;Proposal 3,&#148; the stock option grants to Mr. Adair and Mr. Mitz are
designed to qualify as &#147;performance-based&#148; compensation under Section 162(m). If approved by the stockholders, we will be able to take a tax
deduction in excess of $1 million per year for any compensation recognized by Mr. Adair or Mr. Mitz in connection with these stock option
grants.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Section 409A of the Internal
Revenue Code</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Section 409A imposes additional
significant taxes in the event an executive officer, director or other service provider for the company receives &#147;deferred compensation&#148; that
does not satisfy the requirements of section 409A. Although we do not maintain a traditional deferred compensation plan, section 409A may apply to
certain severance arrangements and equity awards. Consequently, to assist the affected employee in avoiding additional tax and penalties under section
409A, we developed the severance arrangements described above in &#147;Post-Employment Obligations&#148; to either avoid the application of section
409A or, to the extent doing so is not possible, comply with the applicable section 409A requirements.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Equity Grant
Practices</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In June 2007, our compensation
committee and board of directors adopted a policy with respect to the grant of stock options and other equity incentive awards. Among other provisions,
the policy generally prohibits the grant of stock options or other equity awards to executive officers during closed quarterly trading windows (as
determined in accordance with our insider trading policy). In addition, the equity grant policy requires that all equity awards made to executive
officers be approved at meetings of our compensation committee rather than by written consent of the committee.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">50<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>COMPENSATION COMMITTEE REPORT</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The compensation committee has
reviewed and discussed with management the Compensation Discussion and Analysis contained in this proxy statement immediately above. Based on this
review and discussion, the compensation committee has recommended to the board of directors that the Compensation Discussion and Analysis be included
in this proxy statement and incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended July 31, 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px"><B>COMPENSATION COMMITTEE</B><BR> Daniel J. Englander (chairman)<BR> Steven D. Cohan<BR> Thomas N.
Tryforos</DIV></FONT></DIV></TD>
</TR></TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>The preceding compensation
committee report shall not be deemed to be &#147;soliciting material&#148; or to be &#147;filed&#148; with the SEC or subject to Regulation 14A or 14C
(17 CFR 240.14a-1 through 240.14b-2 or 240.14c-1 through 240.14c-101), other than as provided in Item 407(d) of Regulation S-K, or to the liabilities
of section 18 of the Exchange Act (15 U.S.C. 78r), except to the extent we specifically request that the information be treated as soliciting material
or specifically incorporate it by reference into a document filed under the Securities Act or the Exchange Act. Such information will not be deemed to
be incorporated by reference into any filing under the Securities Act or the Exchange Act, except to the extent that we specifically incorporate it by
reference.</I></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">51<BR></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Fiscal Year 2013 Summary Compensation
Table</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table sets forth
information regarding all of the compensation awarded to, earned by, or paid to (i) our chief executive officer, (ii) our chief financial officer, and
(iii) the three most highly compensated executive officers other than our chief executive officer and chief financial officer serving as executive
officers as of July 31, 2013, the end of our 2013 fiscal year. We refer to these officers as the &#147;named executive officers.&#148;</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name and<BR>Principal Position<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT"  WIDTH="143ptpt"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Fiscal<BR> Year<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Salary<BR> ($)<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Bonus<BR> ($)(1)<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option<BR> Awards<BR> ($)(2)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">All Other<BR> Compensation<BR> ($)(3)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Total<BR> ($)<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A. Jayson Adair</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(4)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(5)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18,001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Chief Executive Officer</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2012</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(4)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10,801</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(4)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">71,018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">71,019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">650,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">600,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(6)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,263,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>President</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2012</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">650,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">600,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">13,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,263,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">640,384</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4,789,415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16,962</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5,946,761</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">William E. Franklin</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">325,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">349,422</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">12,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(7)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">637,328</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Senior Vice President and</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2012</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">310,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">316,778</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">637,328</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Chief Financial Officer</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">308,076</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">319,385</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,387,286</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,024,047</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">290,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">314,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">11,504</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(8)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">563,956</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Senior Vice President,</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2012</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">275,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">280,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">8,416</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">563,956</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Chief Operating Officer</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">270,192</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">207,551</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,393,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6,841</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,878,364</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">275,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">268,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(9)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">636,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Senior Vice President,</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2012</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">260,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">370,506</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">636,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><I>Sales</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">253,269</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">211,962</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,684,378</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">172,581</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,322,190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The amounts in this column represent discretionary bonuses
awarded for services performed during the applicable fiscal year. Annual bonuses earned during a fiscal year are generally paid in the first quarter of
the subsequent fiscal year.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">There were no equity awards granted to named executive officers
in fiscal 2013. For the number of outstanding equity awards held by the named executive officers as of July 31, 2013, see the &#147;Outstanding Equity
Awards&#148; table in this proxy statement. Each equity award listed in this column was granted under the 2007 Equity Incentive Plan and will become
exercisable for the option shares in installments over the executive&#146;s period of service with us. Options vest over a five-year period from the
date grant, with the first 20% vesting on the one-year anniversary of the date of grant and the remainder vesting monthly thereafter. Each option has a
maximum term of 10 years, subject to earlier termination in the event of the executive&#146;s termination of employment with us.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(3)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We pay 401(k) matching contributions, life and health insurance
and short-term disability premiums on behalf of all of our employees, including our named executive officers. The amounts shown in this column, other
than the amounts for personal use of corporate aircraft discussed below, equal the actual cost to us of the particular benefit or perquisite provided.
Amounts in this column include the cost to us of a named executive officer&#146;s (i) personal use of a company-owned automobile or (ii) an automobile
expense allowance.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(4)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For the period beginning on April 14, 2009 and ending on April
14, 2014, Mr. Adair receives $1 per year in salary.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(5)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes $18,000 related to personal use of company-owned
automobiles.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(6)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes $2,600 for 401(k) matching contribution paid by Copart
on behalf of Mr. Mitz and $10,800 related to personal use of a company-owned automobile.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(7)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes $3,500 for 401(k) matching contribution paid by Copart
on behalf of Mr. Franklin and $9,000 related to an automobile allowance.</FONT></TD>
</TR>
</TABLE>
<BR>
<!-- agabop mode="frill" last-style="footnote" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">52<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 56 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 57 -->
<!-- agabop mode="main" last-style="footnote" -->
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(8)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes $2,504 for 401(k) matching contribution paid by Copart
on behalf of Mr. Lowy and $9,000 related to an automobile allowance.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(9)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes $9,000 related to an automobile allowance.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For a description of the
components of our executive compensation program, including the process by which salaries and bonuses are determined, please see the section entitled
&#147;Compensation Philosophy and Program Design&#148; in the Compensation Discussion and Analysis section of this proxy statement. For a description
of our cash bonus program, please see the section entitled &#147;Discretionary Cash Bonuses&#148; in the Compensation Discussion and Analysis section
of this proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are not a party to any written
employment agreements with any of our named executive officers, except for an employment agreement we entered into with William E. Franklin, our senior
vice president and chief financial officer, in fiscal 2004 which was subsequently amended in September 2008 to comply with section 409A of the Internal
Revenue Code. For a description of the material terms of Mr. Franklin&#146;s agreement with us, please see the section entitled &#147;Employment
Contracts and Severance Arrangements with Executive Officers&#148; contained in this proxy statement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Until our corporate aircraft were
sold on April 3, 2012 and July 25, 2012, respectively, we provided our chairman and our chief executive officer limited ability to use our corporate
aircraft for personal purposes, subject to the standards and limitations described under the caption &#147;Compensation Discussion and Analysis &#151;
Benefits and Perquisites,&#148; in this proxy statement. For purposes of the summary compensation table above, consistent with SEC guidelines, we have
valued this perquisite based on the incremental cost to us. For purposes of valuing personal use of corporate aircraft, we have used a method that
takes into account (i) landing/parking/flight planning services and expenses; (ii) crew travel expenses; (iii) supplies and catering; (iv) aircraft
fuel and oil expenses; (v) maintenance, parts and external labor; (vi) customs, foreign permit and similar fees, if any; and (vii) passenger ground
transportation. Incremental cost does not include an allocable share of the fixed costs associated with our ownership of the aircraft.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">53<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 57 -->
<PAGE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Outstanding Equity Awards at 2013 Fiscal Year
End</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table presents
certain information concerning equity awards held by the named executive officers at the end of the fiscal year ended July 31, 2013. This table
includes unexercised and unvested option awards. Each equity grant is shown separately for each named executive officer.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Named Executive Officer<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT"  WIDTH="126.5ptpt"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of<BR> Securities<BR> Underlying<BR>
Unexercised<BR> Options (#)<BR> Exercisable<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of<BR> Securities<BR> Underlying<BR>
Unexercised<BR> Options (#)<BR> Unexercisable<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option<BR> Grant<BR> Date (1)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option<BR> Exercise<BR> Price ($)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option<BR> Expiration<BR> Date<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">400,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17.195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2017</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">192,772</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7,228</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2008</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19.775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,400,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">600,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4/14/2009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">15.105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4/14/2019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17.195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2017</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">76,772</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3,228</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2008</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19.775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">115,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">35,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">133,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">66,667</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17.32</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">110,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">90,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">233,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">266,667</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20.56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2021</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17.195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/28/2017</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">76,161</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">23,839</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">22,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">44,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">36,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/15/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17.11</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/15/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">56,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">64,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20.56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2021</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16,378</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20,289</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">5,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">21,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">85,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20.56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2021</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">38,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,895</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2008</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">19.775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/26/2018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">82,753</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">17,247</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">9/25/2019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">22,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.38</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">10/4/2020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">93,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">106,667</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">20.56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">3/4/2021</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">All option grants vest 20% on the one-year anniversary of the
grant date and 1.67% each month thereafter, subject to the executive officer&#146;s continued service to us on each such vesting date.</FONT></TD>
</TR>
</TABLE>
<BR>
<!-- agabop mode="ep" last-style="footnote" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">54<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_proxy PAGE POSITION: 58 -->
<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 59 -->
<!-- agabop mode="main" last-style="footnote" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Option Exercises in Fiscal Year 2013</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table provides
certain information concerning stock option exercises by each of the named executive officers during the fiscal year ended July 31, 2013, including the
number of shares acquired upon exercise and the value realized, before payment of any applicable withholding tax and broker&#146;s
commissions.</FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Option Awards<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Named Executive Officer<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT"  WIDTH="126.5ptpt"></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of Shares<BR> Acquired on Exercise<BR> (#)<HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1"><B>Value Realized<BR> on Exercise<BR> ($)(1)</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">90,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,713,944</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">496,917</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">8,197,693</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">1,225,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Represents the fair market value of underlying securities on the
date of exercise, less the exercise price.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Pension Benefits</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We did not maintain any defined
pension or defined contribution plans, other than our tax-qualified 401(k) plan, during our fiscal year ended July 31, 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Potential Post-Employment Payments upon Termination or
Change in Control</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Employment Contracts and
Severance Arrangements with Executive Officers</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are not a party to any written
employment agreements with any of our named executive officers, except for an employment agreement we entered into in fiscal 2004 with William E.
Franklin, our senior vice president and chief financial officer. We entered into employment agreements with Thomas Wylie, our senior vice president of
human resources, Vincent Phillips, our senior vice president of information technology, and Matthew Burgener, our senior vice president of marketing,
in fiscal years 2003, 2010, and 2011, respectively. None of these executives is a named executive officer. Each employment agreement sets forth the
base salary, bonus opportunity, benefits and the responsibilities of each position in effect at the time of execution of the agreement. In addition,
each agreement requires us to provide compensation to these officers in the event of termination of employment under certain circumstances. The
employment agreements with Messrs. Franklin and Wylie were subsequently amended in September 2008 in order to comply with section 409A of the Internal
Revenue Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Each employment agreement with
Messrs. Franklin, Wylie, Phillips, and Burgener provides that in the event the executive&#146;s employment is involuntarily terminated without cause or
the executive resigns from his employment for &#147;good reason,&#148; such executive officer will be entitled to payment of 12 months of his
then-current base salary payable after the date of termination according to a schedule that complies with section 409A of the Internal Revenue Code.
Each employment agreement also provides that in the event the executive officer&#146;s employment is terminated for any reason other than as previously
described, including by reason of death or disability or &#147;cause,&#148; then the executive shall be entitled to receive severance benefits as
provided under our then-existing severance and benefit plans and policies at the time of termination.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In each employment agreement
described above, &#147;cause&#148; means any of the following: (i) willful or grossly negligent failure to substantially perform his duties; (ii)
commission of gross misconduct which is injurious to us; (iii) breach of a material provision of the employment agreement or agreements incorporated
therein; (iv) material violation of a federal or state law or regulation applicable to our business; (v) misappropriation or embezzlement of Company
funds or an act of fraud or dishonesty upon us made by the executive; (vi) conviction of, or plea of <I>nolo contendere</I> to, a felony; or (vii)
continued failure to comply with directives of senior management.</FONT></DIV></P>
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<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In each employment agreement
described above, &#147;good reason&#148; means the executive&#146;s resignation, if one or more of the following events shall have occurred (unless
such event(s) applies generally to all of our senior management): without the executive&#146;s prior written consent, (i) the assignment to the
executive of any duties or the reduction of the executive&#146;s duties, either of which results in a material diminution in the executive&#146;s
position or responsibilities in effect immediately prior to such assignment, or the removal of the executive from such position and responsibilities;
(ii) a material reduction by us in his base salary as in effect immediately prior to such reduction; or (iii) any material breach by us of any material
provision of the employment agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Change in Control
Provisions</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The employment agreements entered
into with Messrs. Franklin, Wylie, Phillips and Burgener do not provide for severance payments or acceleration of vesting of equity awards in the event
of a change in control. Neither our 2001 Stock Option Plan nor our 2007 Equity Incentive Plan provide for the acceleration of outstanding options or
other equity incentive awards in the event of a change in control (as defined in the plans), except in the limited circumstance where the successor
corporation does not assume our outstanding options. When a successor corporation does not assume our options in the event of an acquisition or merger,
the optionee will have the right to exercise the option or stock purchase right as to all the shares underlying the applicable options, including
shares not otherwise vested or exercisable. The right to exercise the option or stock purchase right applies to all of our employees, including our
named executive officers.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event of a change in
control (as defined in the plans), if the awards to be granted are not assumed by the successor corporation, our compensation committee has the
authority as administrator of the equity plan to accelerate the vesting of the awards.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Potential Payments upon
Termination or Change in Control</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">None of our executive officers
has an employment or other severance agreement that provides for payment of any amount in connection with termination of employment upon a change in
control of the company, other than those payments otherwise due to Messrs. Franklin, Wylie, Phillips, and Burgener upon an involuntary termination or
resignation for &#147;good reason&#148; (as defined in the agreements described above). Please see the section above entitled &#147;Employment
Contracts and Severance Agreements with Executive Officers&#148; above for detailed descriptions of the agreements with named executive officers that
govern post-employment payments and benefits. No payments are due in the event of voluntary termination of employment or termination of employment as a
result of death or disability or for &#147;cause&#148; (as defined in the agreements described above).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Assuming the involuntary
termination of employment (including resignation for &#147;good reason&#148;) of the named executive officers took place on July 31, 2013, no named
executive officer would be entitled to receive severance payments and benefits, except Mr. Franklin who would be eligible to receive payments totaling
$325,000, the equivalent of twelve months of his fiscal 2013 base salary.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Equity Compensation Plan
Information</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table provides
information as of July 31, 2013 with respect to shares of our common stock that may be issued upon the exercise of options and similar rights under all
of our existing equity compensation plans, including our 2007 Equity Incentive Plan, our 2001 Stock Option Plan, our 1994 Employee Stock Purchase Plan,
the Copart, Inc. stand alone stock option award agreement dated April 14, 2009 (as amended on June 9, 2010) between Copart, Inc. and Willis J. Johnson
(the &#147;Johnson Option Agreement&#148;), and the Copart, Inc. stand alone stock option award agreement dated April 14, 2009 (as amended on June 9,
2010) between Copart, Inc. and A. Jayson Adair (the &#147;Adair Option Agreement&#148;). Our 2001 Stock Option Plan was terminated in 2007; our 1992
Stock Option Plan was terminated in 2001; and our 1994 Director Option Plan was terminated in August 2003. No additional grants will be made under
these plans and no options remain outstanding under our 1992 Stock Option Plan or our 1994 Director Option Plan, but options granted prior to the
termination of our 2001 Stock Option Plan remain outstanding and are subject to the terms of the applicable plan.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">56<BR></FONT></DIV></P>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Plan Category<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of Securities<BR>to be Issued Upon<BR>Exercise of
Outstanding<BR>Options, Warrants and<BR>Rights(1)<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Weighted-Average<BR>Exercise Price of<BR>Outstanding
Options,<BR> Warrants and Rights(1)<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of Securities<BR>Remaining Available
for<BR>Future Issuance Under<BR>Equity Compensation<BR>Plans (Excluding<BR> Securities Reflected<BR>in the First Column)<HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Equity compensation plans approved by security holders</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">14,922,298</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(2)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.76</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(3)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,924,979</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><!--cal;rhang-->(4)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Equity compensation plans not approved by security holders </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Total </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">14,922,298</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.76</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: double windowtext 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">2,924,979</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We are unable to ascertain with specificity the number of
securities to be issued upon exercise of outstanding rights under the 1994 Employee Stock Purchase Plan or the weighted average exercise price of
outstanding rights under that plan. The 1994 Employee Stock Purchase Plan provides that shares of our common stock may be purchased at a per share
price equal to 85% of the fair market value of the common stock on the beginning of the offering period or a purchase date applicable to such offering
period, whichever is lower.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Reflects the number of shares of common stock to be issued upon
exercise of outstanding options under the 2001 Stock Option Plan, the 2007 Equity Incentive Plan, the Johnson Option Agreement, and the Adair Option
Agreement.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(3)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Reflects weighted average exercise price of outstanding options
under the 2001 Stock Option Plan, the 2007 Equity Incentive Plan, the Johnson Option Agreement, and the Adair Option Agreement.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(4)&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes securities available for future issuance under the 1994
Employee Stock Purchase Plan and the 2007 Equity Incentive Plan. No securities are available for future issuance under the 2001 Stock Option Plan, 1992
Stock Option Plan and 1994 Director Option Plan.</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">57<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>RELATED PERSON TRANSACTIONS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>Audit Committee Approval
Policy</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Our audit committee is
responsible for the review, approval, or ratification of &#147;related person transactions&#148; between us and related persons. Under SEC rules, a
related person is any person who is or was since the beginning of the last fiscal year a director, officer, nominee for director, or 5% stockholder of
Copart (and any of his or her immediate family members).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In October 2012, our audit
committee adopted a revised written policy with respect to related person transactions. Under the policy, any request for us to enter into a
transaction with an executive officer, director, principal stockholder, or any of their immediate family members or affiliates, in which the amount
involved exceeds $120,000 must first be presented to our audit committee for review, consideration, and approval. In approving or rejecting any such
proposal, our audit committee is to consider the relevant facts and circumstances available and deemed relevant to the audit committee, including, but
not limited to, whether the transaction is on terms no less favorable than terms generally available to an unaffiliated third party under the same or
similar circumstances and the extent of the related party&#146;s interest in the transaction.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>2013 Related Person
Transactions</I></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">During fiscal 2013, we engaged in
the related person transactions described in this section, all of which were approved by our audit committee. We believe that the terms of these
transactions were no less favorable to us than could have been obtained from unaffiliated third parties.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Related Party
Employment</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We employ Brett Adair, the
brother of A. Jayson Adair, our chief executive officer, in a non-executive position. In fiscal 2013, we paid Mr. Adair a total of $236,105.79,
consisting of $186,105.79 in base salary and $50,000 as a cash bonus. In addition, Mr. Adair is given a monthly automobile expense allowance. In
October 2012, our compensation committee approved a grant to Mr. Adair of 10,000 shares of our common stock at an exercise price per share of $27.39
and a cash bonus for fiscal 2012 in the amount of $50,000, which was paid to Mr. Adair in fiscal 2013.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In October 2013, our compensation
committee approved a cash bonus for fiscal 2013 in the amount of $100,000, which was paid to Mr. Adair in fiscal 2014.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Stock
Repurchases</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Since February 2003, we have
maintained a stock repurchase program approved by our board of directors. As of October 28, 2013, the aggregate authorization under the program stood
at 98.0 million shares, and we had repurchased approximately 50.3 million shares, leaving approximately 47.7 million shares available for
repurchase.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">From time to time during the
course of our repurchase program, we have repurchased stock directly from our executive officers on terms approved by our audit committee. During
fiscal 2012, we purchased, as part of our on-going repurchase program, shares from certain executive officers described below:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">On June 28, 2012, we acquired 2.8 million shares of our common
stock at a price of $23.22 per share, or an aggregate purchase price of $65.0 million, from Willis J. Johnson, our chairman and a member of our board
of directors. The settlement date for the acquisition of the common stock was on or about June 28, 2012, and the purchase was made pursuant to our
existing stock repurchase program. The per share purchase price for the common stock to be acquired was based on the closing price of the
Company&#146;s common stock on June 28, 2012 (as reported by the NASDAQ). The repurchase was approved by the independent members of our board of
directors and our audit committee.</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">58<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<BR>
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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV STYLE="TEXT-INDENT: 20px" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&#149;&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">On September 27, 2012, we acquired 500,000 shares of our common
stock at a price per share of $27.77 per share, or an aggregate purchase price of $13.9 million, from Thomas W. Smith, a former member of our board of
directors. The settlement date for the acquisition of the common stock was on or about September 27, 2012, and the purchase was made pursuant to our
existing stock repurchase program. The per share purchase price for the common stock to be acquired was based on the closing price of our common stock
on September 27, 2012 (as reported by the NASDAQ). The repurchase was approved by the independent members of our board of directors and our audit
committee.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Change in Control
Agreements</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We have entered into agreements
providing termination benefits to certain of our executive officers as described in the section entitled &#147;Potential Post-Employment Payments Upon
Termination or Change of Control&#148; above.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><I>Indemnification
Agreements</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We have entered into
indemnification agreements with our directors and executive officers. The indemnification agreements and our certificate of incorporation and bylaws
require us to indemnify our directors and executive officers to the fullest extent permitted by Delaware law.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">59<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 64 -->
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" 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 officers and persons who beneficially own more than ten percent of a registered class of
our equity securities to file with the SEC initial reports of ownership and reports of changes in ownership of common stock and our other equity
securities. Officers, directors and greater-than-ten percent stockholders are required by SEC regulations to furnish us with copies of all Section
16(a) reports they file.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">To our knowledge, based solely
upon review of the copies of such reports furnished to us and written representations that no other reports were required, during the fiscal year ended
July 31, 2013, all Section 16(a) filing requirements applicable to our officers, directors and holders of more than ten percent of our common stock
were satisfied.</FONT></DIV></P>
<!-- agabop mode="ep" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">60<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_proxy PAGE POSITION: 65 -->
<!-- agabop mode="main" last-style="text" -->
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>SECURITY OWNERSHIP</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The following table sets forth
certain information known to us regarding the ownership of our common stock as of October 28, 2013 by (i) all persons known by us to be beneficial
owners of five percent or more of our common stock; (ii) each of our current directors and nominees for director; (iii) any other named executive
officers (as defined in the section of this Proxy Statement entitled &#147;Executive Compensation &#151; Summary Compensation Table&#148;); and (iv)
all of our executive officers and directors as a group. Beneficial ownership is determined based on SEC rules and includes certain stock options
exercisable within 60 days of October 28, 2013. Unless otherwise indicated, each of the stockholders has sole voting and investment power with respect
to the shares beneficially owned, subject to community property laws where applicable.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TH WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Name and Address of Beneficial Owner(1)<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;</FONT></TH>
     <TH><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Number of Shares<BR> Beneficially Owned<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
     <TH ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">&nbsp;&nbsp;&nbsp;</FONT></TH>
     <TH COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="1">Percent of Total<BR> Shares Outstanding(2)<HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TH>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px"><I>Named executive officers and directors:</I><BR></DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Willis J. Johnson (3) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">15,551,846</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">12.0</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">A. Jayson Adair (4) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">6,055,396</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">4.7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Robert H. Vannuccini (5) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">279,782</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Daniel J. Englander (6) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">434,683</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Vincent W. Mitz (7) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">994,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Steven D. Cohan (8) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">223,345</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">James E. Meeks (9) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">320,833</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">William E. Franklin (10) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">356,031</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Matt Blunt (11) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">33,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Russell D. Lowy (12) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">85,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px">Thomas N. Tryforos (13) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">284,677</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM" BGCOLOR="#CCEEFF">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 10px; TEXT-INDENT:
-10px"><I>All directors and executive officers as a group (18 persons</I>) (14) </DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">25,494,040</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">18.5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">%&nbsp;&nbsp;</FONT></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Represents less than 1% of our outstanding common
stock.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(1)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Unless otherwise set forth, the mailing address for each of the
persons listed in this table is: c/o Copart, Inc., 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(2)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Based on 125,547,268 shares outstanding as of October 28,
2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(3)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 7,395,645 shares held by the Willis J. Johnson and Reba
J. Johnson Revocable Trust DTD 1/16/1997, for which Mr. Johnson and his wife are trustees and 3,689,534 shares held by the Reba Family Limited
Partnership II, for which Mr. Johnson and his wife are the general partners. Also includes options to acquire 4,466,667 shares of common stock held by
Mr. Johnson that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(4)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 1,014,033 shares held by the A. Jayson Adair and Tammi
L. Adair Revocable Trust, for which Mr. Adair and his wife are trustees, 24,696 shares held by irrevocable trusts for the benefit of members of Mr.
Adair&#146;s immediate family and 550,000 shares held by JTGJ Investments, LP, a Texas limited partnership. Mr. Adair disclaims beneficial ownership of
the shares held by JTGJ Investments, LP, except to the extent of his pecuniary interest. Also includes options to acquire 4,466,667 shares of common
stock held by Mr. Adair that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(5)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 2,072 shares held directly, and options to acquire
277,710 shares of common stock held by Mr. Vannuccini that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(6)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 199,900 held by Ursula Capital Partners, for which Mr.
Englander is the sole general partner, 2,450 shares held by trusts for the benefit of members of Mr. Englander&#146;s immediately family and 9,000
shares held directly by Mr. Englander. Mr. Englander disclaims beneficial ownership of the shares held by Ursula Capital Partners except to the extent
of his pecuniary interest therein. Also includes options to acquire 223,333 shares of common stock held by Mr. Englander that are exercisable within 60
days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">61<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(7)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 692 shares held directly and options to acquire 993,493
shares of common stock held by Mr. Mitz that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(8)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 12 shares owned directly and options to acquire 223,333
shares of common stock held by Mr. Cohan that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(9)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes options to acquire 320,833 shares of common stock held
by Mr. Meeks that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(10)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 11,657 shares held directly and options to acquire
344,374 shares of common stock held by Mr. Franklin that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(11)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes options to acquire 33,333 shares of common stock held
by Mr. Blunt that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(12)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes options to acquire 85,775 shares of common stock held
by Mr. Lowy that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(13)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 251,344 shares held by Elias Charles &amp; Co. LLC, of
which Mr. Tryforos is a member. Mr. Tryforos disclaims beneficial ownership of the shares held by Elias Charles &amp; Co. LLC except to the extent of
his pecuniary interest. Also includes options to acquire 33,333 shares of common stock held by Mr. Tryforos that are exercisable within 60 days after
October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="17px" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(14)</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="100%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Includes 13,318,321 shares and options to acquire 12,175,719
shares of common stock held by all executive officers and directors as a group that are exercisable within 60 days after October 28, 2013.</FONT></TD>
</TR>
</TABLE>
<BR>
<!-- agabop mode="ep" last-style="footnote" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">62<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<BR>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 8px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>OTHER MATTERS</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" NOSHADE COLOR="#000000"></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Other Matters</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">We know of no other matters to be
submitted at the annual meeting. If any other matters properly come before the meeting, it is the intention of the persons named in the form of proxy
to vote the shares they represent as our board of directors may recommend. Discretionary authority with respect to such other matters is granted by the
execution of the proxy.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Adjournment of the 2013 Annual
Meeting</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event that there are not
sufficient votes to approve any proposal incorporated in this proxy statement at the time of the annual meeting, the annual meeting may be adjourned in
order to permit further solicitation of proxies from holders of our common stock. Proxies that are being solicited by our board of directors grant
discretionary authority to vote for any adjournment, if necessary.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Annual Report</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A copy of our Annual Report for
the fiscal year ended July 31, 2013 has been mailed concurrently with this proxy statement to all stockholders entitled to notice of, and to vote at,
the annual meeting. The annual report is not incorporated into this proxy statement and is not proxy soliciting material.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">&nbsp;&nbsp;For the Board of Directors</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">&nbsp;&nbsp;COPART, INC.</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">
<IMG SRC="stylerp_sig.jpg">
<BR>
&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT:
0px; TEXT-INDENT: 0px">&nbsp;&nbsp;Paul A. Styer,<BR> &nbsp;Secretary</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Dated: November 15, 2013</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 36px; TEXT-ALIGN: JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></DIV></DIV></P>
<TABLE CELLPADDING="6" CELLSPACING="0" BORDER="4" WIDTH="100%">
<TR>
     <TD>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>IMPORTANT NOTICE REGARDING INTERNET AVAILABILITY OF<BR>
PROXY MATERIALS FOR THE 2013 ANNUAL MEETING:<BR> &nbsp;&nbsp;&nbsp;&nbsp;<BR>The Proxy Statement and 2013 Annual Report are available free of charge
at<BR> <U>http://materials.proxyvote.com/217204.</U></B></FONT></DIV></P>     </TD>
</TR>
</TABLE>
<!-- agabop mode="ep" last-style="h1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">63<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Site of the Copart, Inc. 2013 Annual Stockholder
Meeting</B></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Directions to:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="85%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Copart, Inc. Dallas Corporate Office<BR> 14185 Dallas Parkway, Suite 300<BR> Dallas, Texas 75254</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">From:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="85%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Dallas Fort Worth International Airport</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="15%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="85%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Head towards the north exit<BR> Take the ramp onto International Parkway (partial toll road)<BR> Continue onto TX-121 N<BR> Take the
exit onto I-635 E<BR> Take exit 22C to merge onto Dallas North Tollway N (partial toll road)<BR> Take the exit toward Spring Valley Rd/Quorum Dr/Verde
Valley Lane (toll road)<BR> Merge onto Dallas Parkway<BR> Turn left onto Spring Valley Road<BR> Turn left onto Dallas Parkway<BR> Destination will be
on the right</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<!-- agabop mode="ep" last-style="h1" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">64<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>APPENDIX A</I></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>COPART, INC.<BR> 2007 EQUITY INCENTIVE PLAN,<BR> AS
AMENDED AND RESTATED</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;<I>Purposes of the Plan</I>. The purposes of this Plan are:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;to
attract and retain the best available personnel for positions of substantial responsibility,</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;to
provide incentives to individuals who perform services to the Company, and</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">&#149;&nbsp;&nbsp;&nbsp;&nbsp;to
promote the success of the Company&#146;s business.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">The Plan permits the grant of
Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units, Performance Units,
Performance Shares and other stock or cash awards as the Administrator may determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">2.&nbsp;&nbsp;&nbsp;&nbsp;<I>Definitions</I>. As used herein, the following definitions will apply:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Administrator</I>&#148; means the Board or any of its Committees as will be administering the Plan, in
accordance with Section 4 of the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Applicable Laws</I>&#148; means the requirements relating to the administration of equity-based awards
under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is
listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Award</I>&#148; means, individually or collectively, a grant under the Plan of Options, Stock Appreciation
Rights, Restricted Stock, Restricted Stock Units, Performance Units, Performance Shares and other stock or cash awards as the Administrator may
determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Award Agreement</I>&#148; means the written or electronic agreement setting forth the terms and provisions
applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Board</I>&#148; means the Board of Directors of the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Change in Control</I>&#148; means the occurrence of any of the following events:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A change in the ownership of the Company which occurs on the date that any one person, or more than one
person acting as a group, (&#147;Person&#148;) acquires ownership of the stock of the Company that, together with the stock held by such Person,
constitutes more than 50% of the total voting power of the stock of the Company; provided, however, that for purposes of this subsection (i), the
acquisition of additional stock by any one Person, who is considered to own more than 50% of the total voting power of the stock of the Company will
not be considered a Change in Control; or</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A change in the effective control of the Company which occurs on the date that a majority of members of the
Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the
Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to effectively control the
Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(iii)&nbsp;&nbsp;&nbsp;&nbsp;A
change in the ownership of a substantial portion of the Company&#146;s assets which occurs on the date that any Person acquires (or has acquired during
the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total
gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such
acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership
of a substantial portion of the Company&#146;s assets: (A) a transfer to an entity that is controlled by the Company&#146;s stockholders immediately
after the transfer, or (B) a transfer of assets</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>by the Company to: (1) a
stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company&#146;s stock, (2) an entity, 50% or
more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50%
or more of the total value or voting power of all the outstanding stock of the Company, or (4) an entity, at least 50% of the total value or voting
power of which is owned, directly or indirectly, by a Person described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross
fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any
liabilities associated with such assets.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of this Section
2(f), persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or
acquisition of stock, or similar business transaction with the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(g)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Code</I>&#148; means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code
herein will be a reference to any successor or amended section of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(h)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Committee</I>&#148; means a committee of Directors or of other individuals satisfying Applicable Laws
appointed by the Board in accordance with Section 4 hereof.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Common Stock</I>&#148; means the common stock of the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Company</I>&#148; means Copart, Inc., a Delaware corporation, or any successor
thereto.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Consultant</I>&#148; means any person, including an advisor, engaged by the Company or a Parent or
Subsidiary to render services to such entity.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Determination Date</I>&#148; means the latest possible date that will not jeopardize the
qualification of an Award granted under the Plan as &#147;performance-based compensation&#148; under Section 162(m) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(m)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Director</I>&#148; means a member of the Board.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(n)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Disability</I>&#148; means total and permanent disability as defined in Section 22(e)(3) of the Code,
provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total
disability exists in accordance with uniform and non-discriminatory standards adopted by the Administrator from time to time.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(o)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Earnings Per Share</I>&#148; means as to any performance period, the Company&#146;s or a business
unit&#146;s Profit After-Tax, divided by a weighted average number of Shares outstanding and dilutive common equivalent Shares deemed outstanding,
determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(p)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Employee</I>&#148; means any person, including Officers and Directors, employed by the Company or any
Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director&#146;s fee by the Company will be sufficient to constitute
&#147;employment&#148; by the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(q)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Exchange Act</I>&#148; means the Securities Exchange Act of 1934, as amended.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Exchange Program</I>&#148; means a program under which (i) outstanding Awards are surrendered or
cancelled in exchange for Awards of the same type (which may have lower exercise prices and different terms), Awards of a different type, and/or cash,
(ii) Participants would have the opportunity to transfer any outstanding Awards to a financial institution or other person or entity selected by the
Administrator, and/or (iii) the exercise price of an outstanding Award is reduced. The Administrator will determine the terms and conditions of any
Exchange Program in its sole discretion.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(s)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Fair Market Value</I>&#148; means, as of any date, the value of the Common Stock as the Administrator may
determine in good faith by reference to the price of such stock on any established stock exchange or a national market system on the day of
determination if the Common Stock is so listed on any established stock exchange or a national market system. If the Common Stock is not listed on any
established stock exchange or a national market system, the value of the Common Stock will be determined as the Administrator may determine in good
faith.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Fiscal Year</I>&#148; means the fiscal year of the Company.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Incentive Stock Option</I>&#148; means an Option that by its terms qualifies and is otherwise
intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated
thereunder.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Non-Employee Director</I>&#148;means a Director who is not an Employee.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Nonstatutory Stock Option</I>&#148; means an Option that by its terms does not qualify or is
not intended to qualify as an Incentive Stock Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Officer</I>&#148; means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Operating Cash Flow</I>&#148; means as to any performance period, the Company&#146;s or
a business unit&#146;s sum of Profit After-Tax plus depreciation and amortization less capital expenditures plus changes in working capital comprised
of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments from customers
and long-term accrued expenses, determined in accordance with generally acceptable accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Operating Income</I>&#148; means as to any performance period, the Company&#146;s or a
business unit&#146;s income from operations but excluding any unusual items, determined in accordance with generally accepted accounting
principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(aa)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Option</I>&#148; means a stock option granted pursuant to Section 6 of the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(bb)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Parent</I>&#148; means a &#147;parent corporation,&#148; whether now or hereafter existing,
as defined in Section 424(e) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(cc)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Participant</I>&#148; means the holder of an outstanding Award.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(dd)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Performance Goals</I>&#148; will have the meaning set forth in Section 11 of the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ee)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Performance Period</I>&#148; means any Fiscal Year of the Company or such other period as
determined by the Administrator in its sole discretion.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ff)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Performance Share</I>&#148; means an Award denominated in Shares which may be earned in whole or in part
upon attainment of Performance Goals or other vesting criteria as the Administrator may determine pursuant to Section 10.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(gg)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Performance Unit</I>&#148; means an Award which may be earned in whole or in part upon attainment of Performance
Goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of
the foregoing pursuant to Section 10.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(hh)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Period of Restriction</I>&#148; means the period during which the transfer of Shares of Restricted Stock are
subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of
time, the achievement of target levels of performance, or the occurrence of other events as determined by the Administrator.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Plan</I>&#148; means this 2007 Equity Incentive Plan, as amended and
restated.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(jj)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Profit After-Tax</I>&#148; means as to any performance period, the Company&#146;s
or a business unit&#146;s income after taxes, determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(kk)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Profit Before-Tax</I>&#148; means as to any performance period, the Company&#146;s or a
business unit&#146;s income before taxes, determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ll)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Restricted Stock</I>&#148; means Shares issued pursuant to an Award of Restricted
Stock under Section 8 of the Plan, or issued pursuant to the early exercise of an Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(mm)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Restricted Stock Unit</I>&#148; means a bookkeeping entry representing an amount equal to the Fair Market
Value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the
Company.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(nn)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Return on Assets</I>&#148; means as to any performance period, the percentage equal to the Company&#146;s
or a business unit&#146;s Operating Income before incentive compensation, divided by average net Company or business unit, as applicable, assets,
determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(oo)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Return on Equity</I>&#148; means as to any performance period, the percentage equal to the Company&#146;s
Profit After-Tax divided by average stockholder&#146;s equity, determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(pp)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Return on Sales</I>&#148; means as to any performance period, the percentage equal to the Company&#146;s
or a business unit&#146;s Operating Income before incentive compensation, divided by the Company&#146;s or the business unit&#146;s, as applicable,
Revenue, determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(qq)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Revenue</I>&#148; means as to any performance period, the Company&#146;s or business unit&#146;s net
sales, determined in accordance with generally accepted accounting principles.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(rr)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Rule 16b-3</I>&#148; means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when
discretion is being exercised with respect to the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ss)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Section 16(b)</I>&#148; means Section 16(b) of the Exchange Act.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(tt)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Service Provider</I>&#148; means an Employee, Director, or Consultant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(uu)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Share</I>&#148; means a share of the Common Stock, as adjusted in accordance with Section 14 of the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(vv)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Stock Appreciation Right</I>&#148; means an Award, granted alone or in connection with an Option, that pursuant to
Section 7 is designated as a Stock Appreciation Right.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ww)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Subsidiary</I>&#148; means a &#147;subsidiary corporation,&#148; whether now or hereafter existing, as
defined in Section 424(f) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(xx)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<I>Total Stockholder Return</I>&#148; means as to any performance period, the total return (change in share price
plus reinvestment of any dividends) of a Share.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Subject to the Plan</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of Section 14 of the Plan, the maximum aggregate number of Shares that may be awarded and
sold under the Plan is 12,000,000 Shares. The Shares may be authorized, but unissued, or reacquired Common Stock.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Full Value Awards</I>. Any Shares subject to Awards granted with an exercise price less than the Fair Market
Value on the date of grant of such Awards will be counted against the numerical limits of this Section 3 as two (2) Shares for every one (1) Share
subject thereto. Further, if Shares acquired pursuant to any such Award are forfeited or repurchased by the Company and would otherwise return to the
Plan pursuant to Section 3(c), two (2) times the number of Shares so forfeited or repurchased will return to the Plan and will again become available
for issuance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Lapsed Awards</I>. If an Award expires or becomes unexercisable without having been exercised in full, or, with
respect to Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units, is forfeited to or repurchased by the Company, the
unpurchased Shares (or for Awards other than Options and Stock Appreciation Rights, the forfeited or repurchased Shares) which were subject thereto
will become available for future grant or sale under the Plan (unless the Plan has terminated). Upon exercise of a Stock Appreciation Right settled in
Shares, the gross number of Shares covered by the portion of the Award so exercised will cease to be available under the Plan. Shares that have
actually been issued under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the
Plan; provided, however, that if unvested Shares of Restricted Stock, Restricted Stock Units, Performance Shares or Performance Units are repurchased
by the Company or are forfeited to the Company, such Shares will become available for future grant under the Plan. Shares used to pay the tax and/or
exercise price of an Award will not become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash
rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Notwithstanding the
foregoing</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>provisions of this Section
3(c), subject to adjustment provided in Section 14, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will
equal the aggregate Share number stated in Section 3(a), plus, to the extent allowable under Section 422 of the Code, any Shares that become available
for issuance under the Plan under this Section 3(c).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Share Reserve</I>. The Company, during the term of this Plan, will at all times reserve and keep available such
number of Shares as will be sufficient to satisfy the requirements of the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;<I>Administration of the Plan</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Procedure</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Multiple Administrative Bodies</I>. Different Committees with respect to different groups of Service
Providers may administer the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Section 162(m)</I>. To the extent that the Administrator determines it to be desirable
to qualify Awards granted hereunder as &#147;performance-based compensation&#148; within the meaning of Section 162(m) of the Code, the Plan will be
administered by a Committee of two (2) or more &#147;outside directors&#148; within the meaning of Section 162(m) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Rule 16b-3</I>. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions
contemplated hereunder will be structured to satisfy the requirements for exemption under Rule 16b-3.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other Administration</I>. Other than as provided above, the Plan will be administered by (A) the
Board or (B) a Committee, which committee will be constituted to satisfy Applicable Laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Powers of the Administrator</I>. Subject to the provisions of the Plan, and in the case of a Committee, subject
to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to determine the Fair Market Value;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to select the Service Providers to whom Awards may be granted hereunder;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted
hereunder;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to determine the terms and conditions of any, and with the approval of the Company&#146;s
stockholders, to institute an Exchange Program;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to construe and interpret the terms of the Plan and Awards granted pursuant to the
Plan;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and
regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to modify or amend each Award (subject to Section 19(c) of the Plan). Notwithstanding the previous
sentence, the Administrator may not, without the approval of the Company&#146;s stockholders: (A) modify or amend an Option or Stock Appreciation Right
to reduce the exercise price of such Option or Stock Appreciation Right after it has been granted (except for adjustments made pursuant to Section 14),
or (B) cancel any outstanding Option or Stock Appreciation Right and immediately replace it with a new Option or Stock Appreciation Right with a lower
exercise price;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(viii)&nbsp;&nbsp;&nbsp;&nbsp;to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the
Administrator;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to allow a Participant to defer the receipt of the payment of cash or the delivery of Shares that
would otherwise be due to such Participant under an Award pursuant to such procedures as the Administrator may determine; and</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to make all other determinations deemed necessary or advisable for administering the
Plan.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Effect of Administrator&#146;s Decision</I>. The Administrator&#146;s decisions, determinations, and
interpretations will be final and binding on all Participants and any other holders of Awards.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;<I>Eligibility</I>. Nonstatutory Stock Options, Restricted Stock, Restricted Stock Units, Stock Appreciation Rights,
Performance Units, Performance Shares, and such other cash or stock awards as the Administrator determines may be granted to Service Providers.
Incentive Stock Options may be granted only to Employees.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">6.&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Options</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Limitations</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;Each
Option will be designated in the Award Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. However, notwithstanding such
designation, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the
first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds $100,000 (U.S.), such
Options will be treated as Nonstatutory Stock Options. For purposes of this Section 6(a), Incentive Stock Options will be taken into account in the
order in which they were granted. The Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is
granted.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;The
Administrator will have complete discretion to determine the number of Shares subject to an Option granted to any Participant, provided that during any
Fiscal Year, no Participant will be granted an Option covering more than 1,000,000 Shares. Notwithstanding the limitation in the previous sentence, in
connection with his or her initial service as an Employee, an Employee may be granted Options covering up to an additional 1,000,000
Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Term of Option</I>. The Administrator will determine the term of each Option in its sole discretion; provided,
however, that the term will be no more than ten (10) years from the date of grant thereof. Moreover, in the case of an Incentive Stock Option granted
to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than 10% of the total combined voting power of
all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant
or such shorter term as may be provided in the Award Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Option Exercise Price and Consideration</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise Price</I>. The per share exercise price for the Shares to be issued pursuant to exercise of an Option
will be determined by the Administrator, but will be no less than 100% of the Fair Market Value per Share on the date of grant. In addition, in the
case of an Incentive Stock Option granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than 10%
of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than 110% of the
Fair Market Value per Share on the date of grant. Notwithstanding the foregoing provisions of this Section 6(c), Options may be granted with a per
Share exercise price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a transaction described in, and in a manner
consistent with, Section 424(a) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<I>Waiting Period and Exercise Dates</I>. At the time an Option is granted, the Administrator will fix the period
within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(iii)&nbsp;&nbsp;&nbsp;&nbsp;<I>Form of Consideration</I>. The Administrator will determine the acceptable form(s) of consideration for
exercising an Option, including the method of payment, to the extent permitted by Applicable Laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise of Option</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;<I>Procedure for Exercise; Rights as a Stockholder</I>. Any Option granted hereunder will be exercisable according
to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option
may not be exercised for a fraction of a Share.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">An Option will be deemed
exercised when the Company receives: (i) notice of exercise (in such form as the Administrator specifies from time to time) from the person entitled to
exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with any applicable withholding
taxes). No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as
provided in Section 14 of the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<I>Termination of Relationship as a Service Provider</I>. If a Participant ceases to be a Service Provider, other
than upon the Participant&#146;s termination as the result of the Participant&#146;s death or Disability, the Participant may exercise his or her
Option within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of termination (but in no
event later than the expiration of the term of such Option as set forth in the Award Agreement). In the absence of a specified time in the Award
Agreement, the Option will remain exercisable for three (3) months following the Participant&#146;s termination. Unless otherwise provided by the
Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion
of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified by the
Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(iii)&nbsp;&nbsp;&nbsp;&nbsp;<I>Disability of Participant</I>. If a Participant ceases to be a Service Provider as a result of the
Participant&#146;s Disability, the Participant may exercise his or her Option within such period of time as is specified in the Award Agreement to the
extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Award
Agreement). In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months following the
Participant&#146;s termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his
or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not
exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(iv)&nbsp;&nbsp;&nbsp;&nbsp;<I>Death of Participant</I>. If a Participant dies while a Service Provider, the Option may be exercised following
the Participant&#146;s death within such period of time as is specified in the Award Agreement to the extent that the Option is vested on the date of
death (but in no event may the option be exercised later than the expiration of the term of such Option as set forth in the Award Agreement), by the
Participant&#146;s designated beneficiary, provided such beneficiary has been designated prior to Participant&#146;s death in a form acceptable to the
Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the
Participant&#146;s estate or by the person(s) to whom the Option is transferred pursuant to the Participant&#146;s will or in accordance with the laws
of descent and distribution. In the absence of a specified time in the Award Agreement, the Option will remain exercisable for twelve (12) months
following Participant&#146;s death. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her
entire Option, the Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within
the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(v)&nbsp;&nbsp;&nbsp;&nbsp;<I>Other Termination</I>. A Participant&#146;s Award Agreement may also provide that if the exercise of the Option
following the termination of Participant&#146;s status as a Service Provider (other than upon the Participant&#146;s death or Disability) would result
in liability under Section 16(b), then the Option will terminate on the earlier of (A) the expiration of the term of the Option set forth in the Award
Agreement, or (B) the 10th day after the last date on which such exercise would result in such liability under Section 16(b). Finally, a
Participant&#146;s Award Agreement may also provide that if the exercise of the Option following the termination of the Participant&#146;s status as a
Service Provider (other than upon the Participant&#146;s death or Disability) would be prohibited at any time solely because the issuance of Shares
would violate the registration requirements under the Securities Act, then the Option will terminate on the earlier of (A) the expiration of the term
of the Option, or (B) the expiration of a period of three (3) months after the termination of the Participant&#146;s status as a Service Provider
during which the exercise of the Option would not be in violation of such registration requirements.</FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">7.&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Appreciation Rights</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant of Stock Appreciation Rights</I>. Subject to the terms and conditions of the Plan, a Stock Appreciation
Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole
discretion.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Number of Shares</I>. The Administrator will have complete discretion to determine the number of Stock
Appreciation Rights granted to any Participant, provided that during any Fiscal Year, no Participant will be granted Stock Appreciation Rights covering
more than 1,000,000 Shares. Notwithstanding the limitation in the previous sentence, in connection with his or her initial service as an Employee, an
Employee may be granted Stock Appreciation Rights covering up to an additional 1,000,000 Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Exercise Price and Other Terms</I>. The Administrator, subject to the provisions of the Plan, will have complete
discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan, provided, however, that the exercise price will
be not less than 100% of the Fair Market Value of a Share on the date of grant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Stock Appreciation Right Agreement</I>. Each Stock Appreciation Right grant will be evidenced by an Award
Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and
conditions as the Administrator, in its sole discretion, will determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Expiration of Stock Appreciation Rights</I>. A Stock Appreciation Right granted under the Plan will expire upon
the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement; provided, however, that the term will be no
more than ten (10) years from the date of grant thereof. Notwithstanding the foregoing, the rules of Section 6(d) also will apply to Stock Appreciation
Rights.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;<I>Payment of Stock Appreciation Right Amount</I>. Upon exercise of a Stock Appreciation Right, a Participant will
be entitled to receive payment from the Company in an amount determined by multiplying:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ii)&nbsp;&nbsp;&nbsp;&nbsp;The
number of Shares with respect to which the Stock Appreciation Right is exercised.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">At the discretion of the
Administrator, the payment upon Stock Appreciation Right exercise may be in cash, in Shares of equivalent value, or in some combination
thereof.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">8.&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted Stock</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant of Restricted Stock</I>. Subject to the terms and provisions of the Plan, the Administrator, at any time
and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will
determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted Stock Agreement</I>. Each Award of Restricted Stock will be evidenced by an Award Agreement that will
specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will
determine. Notwithstanding the foregoing sentence, for restricted stock intended to qualify as &#147;performance-based compensation&#148; within the
meaning of Section 162(m) of the Code, during any Fiscal Year no Participant will receive more than an aggregate of 300,000 Shares of Restricted Stock.
Notwithstanding the foregoing limitation, in connection with his or her initial service as an Employee, for restricted stock intended to qualify as
&#147;performance-based compensation&#148; within the meaning of Section 162(m) of the Code, an Employee may be granted an aggregate of up to an
additional 300,000 Shares of Restricted Stock. Unless the Administrator determines otherwise, Shares of Restricted Stock will be held by the Company as
escrow agent until the restrictions on such Shares have lapsed.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Transferability</I>. Except as provided in this Section 8, Shares of Restricted Stock may not be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-8<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Other Restrictions</I>. The Administrator, in its sole discretion, may impose such other restrictions on Shares
of Restricted Stock as it may deem advisable or appropriate.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Removal of Restrictions</I>. Except as otherwise provided in this Section 8, Shares of Restricted Stock covered
by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction.
The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;<I>Voting Rights</I>. During the Period of Restriction, Service Providers holding Shares of Restricted Stock
granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(g)&nbsp;&nbsp;&nbsp;&nbsp;<I>Dividends and Other Distributions</I>. During the Period of Restriction, Service Providers holding Shares of
Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares unless otherwise provided in the
Award Agreement. If any such dividends or distributions are paid in Shares, the Shares will be subject to the same restrictions on transferability and
forfeitability as the Shares of Restricted Stock with respect to which they were paid.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(h)&nbsp;&nbsp;&nbsp;&nbsp;<I>Return of Restricted Stock to Company</I>. On the date set forth in the Award Agreement, the Restricted Stock
for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(i)&nbsp;&nbsp;&nbsp;&nbsp;<I>Section 162(m) Performance Restrictions</I>. For purposes of qualifying grants of Restricted Stock as
&#147;performance-based compensation&#148; under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals during the Performance Period. The Performance Goals will be set by the Administrator, in writing, on or before the
Determination Date. In granting Restricted Stock which is intended to qualify under Section 162(m) of the Code, the Administrator will follow any
procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section 162(m) of the Code
(e.g., in determining the Performance Goals). Notwithstanding anything herein, the Administrator may grant Awards under this Plan that are based on
Performance Goals or other specific criteria or goals that are not intended to and do not otherwise qualify as &#147;performance-based
compensation&#148; under Section 162(m) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">9.&nbsp;&nbsp;&nbsp;&nbsp;<I>Restricted Stock Units</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant</I>. Restricted Stock Units may be granted at any time and from time to time as determined by the
Administrator. Each Restricted Stock Unit grant will be evidenced by an Award Agreement that will specify such other terms and conditions as the
Administrator, in its sole discretion, will determine, including all terms, conditions, and restrictions related to the grant, the number of Restricted
Stock Units and the form of payout, which, subject to Section 9(d), may be left to the discretion of the Administrator. Notwithstanding anything to the
contrary in this subsection (a), for Restricted Stock Units intended to qualify as &#147;performance-based compensation&#148; within the meaning of
Section 162(m) of the Code, during any Fiscal Year of the Company, no Participant will receive more than an aggregate of 300,000 Restricted Stock
Units. Notwithstanding the limitation in the previous sentence, for Restricted Stock Units intended to qualify as &#147;performance-based
compensation&#148; within the meaning of Section 162(m) of the Code, in connection with his or her initial service as an Employee, an Employee may be
granted an aggregate of up to an additional 300,000 Restricted Stock Units.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Vesting Criteria and Other Terms</I>. The Administrator will set vesting criteria in its discretion, which,
depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant.
After the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any restrictions for such Restricted Stock
Units. Each Award of Restricted Stock Units will be evidenced by an Award Agreement that will specify the vesting criteria, and such other terms and
conditions as the Administrator, in its sole discretion will determine.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Earning Restricted Stock Units</I>. Upon meeting the applicable vesting criteria, the Participant will be
entitled to receive a payout as specified in the Award Agreement.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-9<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Form and Timing of Payment</I>. Payment of earned Restricted Stock Units will be made as soon as practicable
after the date(s) set forth in the Award Agreement. The Administrator, in its sole discretion, may pay earned Restricted Stock Units in cash, Shares,
or a combination thereof. Shares represented by Restricted Stock Units that are fully paid in cash again will be available for grant under the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Cancellation</I>. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be
forfeited to the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;<I>Section 162(m) Performance Restrictions</I>. For purposes of qualifying grants of Restricted Stock Units as
&#147;performance-based compensation&#148; under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals during the Performance Period. The Performance Goals will be set by the Administrator, in writing, on or before the
Determination Date. In granting Restricted Stock Units which are intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section 162(m) of the Code
(e.g., in determining the Performance Goals). Notwithstanding anything herein, the Administrator may grant Awards under this Plan that are based on
Performance Goals or other specific criteria or goals that are not intended to and do not otherwise qualify as &#147;performance-based
compensation&#148; under Section 162(m) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">10.&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance Units and Performance Shares</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Grant of Performance Units/Shares</I>. Performance Units and Performance Shares may be granted to Service
Providers at any time and from time to time, as will be determined by the Administrator, in its sole discretion. The Administrator will have complete
discretion in determining the number of Performance Units/Shares granted to each Participant provided that during any Fiscal Year, for Performance
Units or Performance Shares intended to qualify as &#147;performance-based compensation&#148; within the meaning of Section 162(m) of the Code, (i) no
Participant will receive Performance Units having an initial value greater than $2,000,000, and (ii) no Participant will receive more than 300,000
Performance Shares. Notwithstanding the foregoing limitation, for Performance Shares intended to qualify as &#147;performance-based compensation&#148;
within the meaning of Section 162(m) of the Code, in connection with his or her initial service, a Service Provider may be granted up to an additional
300,000 Performance Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Value of Performance Units/Shares</I>. Each Performance Unit will have an initial value that is established by
the Administrator on or before the date of grant. Each Performance Share will have an initial value equal to the Fair Market Value of a Share on the
date of grant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance Objectives and Other Terms</I>. The Administrator will set performance objectives or other vesting
provisions. The Administrator may set vesting criteria based upon the achievement of Company-wide, business unit, or individual goals (including, but
not limited to, continued employment), or any other basis determined by the Administrator in its discretion. Each Award of Performance Units/Shares
will be evidenced by an Award Agreement that will specify the Performance Period, and such other terms and conditions as the Administrator, in its sole
discretion, will determine. The Administrator, in its sole discretion, may provide at the time of or following the date of grant for accelerated
vesting for an Award of Performance Units/Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Earning of Performance Units/Shares</I>. After the applicable Performance Period has ended, the holder of
Performance Units/Shares will be entitled to receive a payout of the number of Performance Units/Shares earned by the Participant over the Performance
Period, to be determined as a function of the extent to which the corresponding performance objectives or other vesting provisions have been achieved.
After the grant of a Performance Unit/Share, the Administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting
provisions for such Performance Unit/Share.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Form and Timing of Payment of Performance Units/Shares</I>. Payment of earned Performance Units/Shares will be
made as soon as practicable after the expiration of the applicable Performance Period. The Administrator, in its sole discretion, may pay earned
Performance Units/Shares in the form of cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance
Units/Shares at the close of the applicable Performance Period) or in a combination thereof.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-10<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;<I>Cancellation of Performance Units/Shares</I>. On the date set forth in the Award Agreement, all unearned or
unvested Performance Units/Shares will be forfeited to the Company, and again will be available for grant under the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(g)&nbsp;&nbsp;&nbsp;&nbsp;<I>Section 162(m) Performance Restrictions</I>. For purposes of qualifying grants of Performance Units/Shares as
&#147;performance-based compensation&#148; under Section 162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals during the Performance Period. The Performance Goals will be set by the Administrator, in writing, on or before the
Determination Date. In granting Performance Units/Shares which are intended to qualify under Section 162(m) of the Code, the Administrator will follow
any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under Section 162(m) of the Code
(e.g., in determining the Performance Goals). Notwithstanding anything herein, the Administrator may grant Awards under this Plan that are based on
Performance Goals or other specific criteria or goals that are not intended to and do not otherwise qualify as &#147;performance-based
compensation&#148; under Section 162(m) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">11.&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance-Based Compensation Under Section 162(m) of the Code</I></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>General</I>. If the Administrator, in its discretion, decides to grant an Award intended to qualify as
&#147;performance-based compensation&#148; under Section 162(m) of the Code, the provisions of this Section 11 will control over any contrary provision
in the Plan; provided, however, that the Administrator may in its discretion grant Awards that are not intended to qualify as &#147;performance-based
compensation&#148; under Section 162(m) of the Code to such Participants that are based on Performance Goals or other specific criteria or goals but
that do not satisfy the requirements of this Section 11.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Performance Goals</I>. The granting and/or vesting of Awards of Restricted Stock, Restricted Stock Units,
Performance Shares and Performance Units and other incentives under the Plan may be made subject to the attainment of the following performance goals
relating to one or more business criteria within the meaning of Section 162(m) of the Code and may provide for a targeted level or levels of
achievement (&#147;Performance Goals&#148;): (a) Earnings per Share, (b) Operating Cash Flow, (c) Operating Income, (d) Profit After-Tax, (e) Profit
Before-Tax, (f) Return on Assets, (g) Return on Equity, (h) Return on Sales, (i) Revenue, and (j) Total Stockholder Return. Any criteria used may be
measured, as applicable, (i) in absolute terms, (ii) in combination with another Performance Goal or Goals (for example, but not by way of limitation,
as a ratio or matrix), (iii) in relative terms (including, but not limited to, results for other periods, passage of time and/or against another
company or companies or an index or indices), (iv) on a per-share basis, (v) against the performance of the Company as a whole or a segment of the
Company and/or (vi) on a pre-tax or after-tax basis. The Performance Goals may differ from Participant to Participant and from Award to Award. Prior to
the Determination Date, the Administrator will determine whether any significant element(s) will be included in or excluded from the calculation of any
Performance Goal with respect to any Participant. In all other respects, Performance Goals will be calculated in accordance with the Company&#146;s
financial statements, generally accepted accounting principles, or under a methodology established by the Administrator prior to the issuance of an
Award, which is consistently applied and identified in the financial statements, including footnotes, or the management discussion and analysis section
of the Company&#146;s annual report. In addition, the Administrator will adjust any performance criteria, Performance Goal or other feature of an Award
that relates to or is wholly or partially based on the number of, or the value of, any stock of the Company, to reflect any stock dividend or split,
repurchase, recapitalization, combination, or exchange of shares or other similar changes in such stock.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Procedures</I>. To the extent necessary to comply with the performance-based compensation provisions of Section
162(m) of the Code, with respect to any Award granted subject to Performance Goals and intended to qualify as &#147;performance-based
compensation&#148; under Section 162(m) of the Code, within the first twenty-five percent (25%) of the Performance Period, but in no event more than
ninety (90) days following the commencement of any Performance Period (or such other time as may be required or permitted by Section 162(m) of the
Code), the Administrator will, in writing, (i) designate one or more Participants to whom an Award will be made, (ii) select the Performance Goals
applicable to the Performance Period, (iii) establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such
Performance Period, and (iv) specify the relationship</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-11<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>between Performance Goals and
the amounts of such Awards, as applicable, to be earned by each Participant for such Performance Period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;<I>Additional Limitations</I>. Notwithstanding any other provision of the Plan, any Award which is granted to a
Participant and is intended to constitute qualified performance-based compensation under Section 162(m) of the Code will be subject to any additional
limitations set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder that are requirements for
qualification as qualified performance-based compensation as described in Section 162(m) of the Code, and the Plan will be deemed amended to the extent
necessary to conform to such requirements.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;<I>Determination of Amounts Earned</I>. Following the completion of each Performance Period, the Administrator will
certify in writing whether the applicable Performance Goals have been achieved for such Performance Period. A Participant will be eligible to receive
payment pursuant to an Award intended to qualify as &#147;performance-based compensation&#148; under Section 162(m) of the Code for a Performance
Period only if the Performance Goals for such period are achieved. In determining the amounts earned by a Participant pursuant to an Award intended to
qualified as &#147;performance-based compensation&#148; under Section 162(m) of the Code, the Administrator will have the right to (a) reduce or
eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Administrator may
deem relevant to the assessment of individual or corporate performance for the Performance Period, (b) determine what actual Award, if any, will be
paid in the event of a termination of employment as the result of a Participant&#146;s death or disability or upon a Change in Control or in the event
of a termination of employment following a Change in Control prior to the end of the Performance Period, and (c) determine what actual Award, if any,
will be paid in the event of a termination of employment other than as the result of a Participant&#146;s death or disability prior to a Change in
Control and prior to the end of the Performance Period to the extent an actual Award would have otherwise been achieved had the Participant remained
employed through the end of the Performance Period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">12.&nbsp;&nbsp;&nbsp;&nbsp;<I>Leaves of Absence</I>. Unless the Administrator provides otherwise, vesting of Awards granted hereunder will be
suspended during any unpaid leave of absence. A Service Provider will not cease to be an Employee in the case of (i) any leave of absence approved by
the Company, or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock
Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If
reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months and one day following the
commencement of such leave any Incentive Stock Option held by the Participant will cease to be treated as an Incentive Stock Option and will be treated
for tax purposes as a Nonstatutory Stock Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">13.&nbsp;&nbsp;&nbsp;&nbsp;<I>Transferability of Awards</I>. Unless determined otherwise by the Administrator, an Award may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be
exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award will contain
such additional terms and conditions as the Administrator deems appropriate.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">14.&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustments; Dissolution or Liquidation; Merger or Change in Control</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Adjustments</I>. In the event that any dividend or other distribution (whether in the form of cash, Shares,
other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting
the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available
under the Plan, will adjust the number and class of Shares that may be delivered under the Plan and/or the number, class, and price of Shares covered
by each outstanding Award, and the numerical Share limits set forth in Sections 3, 6, 7, 8, 9, 10, and 23.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Dissolution or Liquidation</I>. In the event of the proposed dissolution or liquidation of the Company, the
Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-12<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>transaction. To the extent it
has not been previously exercised, an Award will terminate immediately prior to the consummation of such proposed action.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Change in Control</I>. In the event of a merger or Change in Control, each outstanding Award will be treated as
the Administrator determines, including, without limitation, that each Award will be assumed or an equivalent option or right substituted by the
successor corporation or a Parent or Subsidiary of the successor corporation (the &#147;Successor Corporation&#148;). The Administrator will not be
required to treat all Awards similarly in the transaction.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event that the Successor
Corporation does not assume or substitute for the Award, the Participant will fully vest in and have the right to exercise all of his or her
outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all
restrictions on Restricted Stock will lapse, and, with respect to Restricted Stock Units, Performance Shares and Performance Units, all Performance
Goals or other vesting criteria will be deemed achieved at target levels and all other terms and conditions met. In addition, if an Option or Stock
Appreciation Right is not assumed or substituted for in the event of a Change in Control, the Administrator will notify the Participant in writing or
electronically that the Option or Stock Appreciation Right will be fully vested and exercisable for a period of time determined by the Administrator in
its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For the purposes of this
subsection (c), an Award will be considered assumed if, following the Change in Control, the Award confers the right to purchase or receive, for each
Share subject to the Award immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property) or, in
the case of a Stock Appreciation Right upon the exercise of which the Administrator determines to pay cash or a Performance Share or Performance Unit
which the Administrator can determine to pay in cash, the fair market value of the consideration received in the merger or Change in Control by holders
of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of
consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the Change in
Control is not solely common stock of the Successor Corporation, the Administrator may, with the consent of the Successor Corporation, provide for the
consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Performance Share or Performance Unit,
for each Share subject to such Award (or in the case of Performance Units, the number of implied shares determined by dividing the value of the
Performance Units by the per share consideration received by holders of Common Stock in the Change in Control), to be solely common stock of the
Successor Corporation equal in fair market value to the per share consideration received by holders of Common Stock in the Change in
Control.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Notwithstanding anything in this
Section 14(c) to the contrary, an Award that vests, is earned or paid-out upon the satisfaction of one or more Performance Goals will not be considered
assumed if the Company or its successor modifies any of such Performance Goals without the Participant&#146;s consent; provided, however, a
modification to such Performance Goals only to reflect the Successor Corporation&#146;s post-Change in Control corporate structure will not be deemed
to invalidate an otherwise valid Award assumption.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">15.&nbsp;&nbsp;&nbsp;&nbsp;<I>Tax
Withholding</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Withholding Requirements</I>. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient
to satisfy federal, state, local, foreign or other taxes (including the Participant&#146;s FICA obligation) required to be withheld with respect to
such Award (or exercise thereof).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Withholding Arrangements</I>. The Administrator, in its sole discretion and pursuant to such procedures as it
may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without limitation) (i)
paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Shares having a Fair Market Value equal to the minimum amount
required to be withheld, (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to the amount required to be withheld,
or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its
sole discretion (whether through a broker or otherwise) equal to the amount required to be withheld. The amount of the withholding requirement will be
deemed to include any amount which</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-13<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>the Administrator agrees may
be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax
rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. The Fair Market
Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">16.&nbsp;&nbsp;&nbsp;&nbsp;<I>No
Effect on Employment or Service</I>. Neither the Plan nor any Award will confer upon a Participant any right with respect to continuing the
Participant&#146;s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant&#146;s right or the
Company&#146;s right to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">17.&nbsp;&nbsp;&nbsp;&nbsp;<I>Date of Grant</I>. The date of grant of an Award will be, for all purposes, the date on which the Administrator
makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be
provided to each Participant within a reasonable time after the date of such grant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">18.&nbsp;&nbsp;&nbsp;&nbsp;<I>Term of Plan</I>. Subject to Section 22 of the Plan, the Plan will become effective upon its adoption by the
Board. It will continue in effect for a term of ten (10) years unless terminated earlier under Section 19 of the Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">19.&nbsp;&nbsp;&nbsp;&nbsp;<I>Amendment and Termination of the Plan</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Amendment and Termination</I>. The Administrator may at any time amend, alter, suspend or terminate the
Plan.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Stockholder Approval</I>. The Company will obtain stockholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Effect of Amendment or Termination</I>. No amendment, alteration, suspension, or termination of the Plan will
impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in
writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator&#146;s ability to exercise the powers
granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">20.&nbsp;&nbsp;&nbsp;&nbsp;<I>Conditions Upon Issuance of Shares</I>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<I>Legal Compliance</I>. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such
Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the
Company with respect to such compliance.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<I>Investment Representations</I>. As a condition to the exercise of an Award, the Company may require the person
exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any
present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">21.&nbsp;&nbsp;&nbsp;&nbsp;<I>Inability to Obtain Authority</I>. The inability of the Company to obtain authority from any regulatory body
having jurisdiction, which authority is deemed by the Company&#146;s counsel to be necessary to the lawful issuance and sale of any Shares hereunder,
will relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority will not have
been obtained.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">22.&nbsp;&nbsp;&nbsp;&nbsp;<I>Stockholder Approval</I>. The Plan will be subject to approval by the stockholders of the Company within twelve
(12) months after the date the Plan is adopted. Such stockholder approval will be obtained in the manner and to the degree required under Applicable
Laws.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">23.&nbsp;&nbsp;&nbsp;&nbsp;<I>Non-Employee Director Limitations</I>. No Non-Employee Director may be granted in any Fiscal Year, Awards
covering more than 200,000 Shares, increased to 250,000 Shares in the Fiscal Year of his or her initial service as a Non-Employee Director. Any Awards
granted to an individual while he or she was an Employee, or while he or she was a Consultant but not a Non-Employee Director, shall not count for
purposes of this limitation.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">A-14<BR></FONT></DIV></P>
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<PAGE>
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<P ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><I>APPENDIX B</I></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>COPART, INC.<BR></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>STAND-ALONE STOCK OPTION AWARD
AGREEMENT</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><U>NOTICE OF STOCK OPTION
GRANT</U><BR></B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Participant Name:</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>Address:</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">You have been granted a
Nonstatutory Stock Option to purchase Common Stock of Copart, Inc. (the &#147;Company&#148;), subject to the terms and conditions of this Stand-Alone
Stock Option Agreement (the &#147;Option Agreement&#148;), as follows:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="90%">
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Grant Number</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Date of Grant</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Vesting Commencement Date*</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Exercise Price per Share</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Total Number of Shares Granted</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Total Exercise Price</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="30%" nowrap><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Term/Expiration Date:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><HR SIZE="1" WIDTH="72" ALIGN="left" NOSHADE
COLOR="#000000"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" nowrap><DIV ><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">*&nbsp;&nbsp;</FONT></DIV></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="97%" ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Vesting Commencement Date shall be the Date of Grant for Mr. Mitz
and April 15, 2014 for Mr. Adair.</FONT></TD>
</TR>
</TABLE>
<BR>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 12px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><U>Vesting
Schedule</U>:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Subject to any acceleration
provisions set forth in this Option Agreement, this Option may be exercised, in whole or in part, in accordance with the following
schedule:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">One fifth (1/5<SUP
style="font-size: 85%; vertical-align: text-top">th</SUP>) of the Shares subject to the Option shall vest on the one-year anniversary of the Vesting
Commencement Date and one sixtieth (1/60<SUP style="font-size: 85%; vertical-align: text-top">th</SUP>) of the Shares subject to the Option shall vest
each month thereafter on the same day of the month as the Vesting Commencement Date, subject to Participant continuing to be a Service Provider through
each such date.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Notwithstanding the foregoing and
anything contrary in this Option Agreement, if (i) prior to a Change in Control, Participant&#146;s status as a Service Provider is terminated by the
Company without Cause, or (ii) upon or following a Change in Control, Participant&#146;s status as a Service Provider is terminated (A) by the Company,
successor corporation or the entity to whom Participant is providing services following a transaction (the &#147;Employer&#148;) without Cause, or (B)
by Participant for Good Reason (any termination described in clauses (i) and (ii), a &#147;Covered Termination&#148;), then one hundred percent (100%)
of Participant&#146;s Shares subject to the Option shall immediately vest and become exerciseable.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><U>Termination
Period</U>:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">As set forth in Section 9 of this
Option Agreement, this Option will be exercisable for twelve (12) months after Participant ceases to be a Service Provider, unless such termination is
a Covered Termination, in which case this Option will remain exercisable through the Term/Expiration Date as provided above. Notwithstanding
the</FONT></DIV></P>
<!-- agabop mode="frill" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-1<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_appendix-b PAGE POSITION: 2 -->
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>foregoing sentence, in no
event may this Option be exercised after the Term/Expiration Date as provided above and may be subject to earlier termination as provided in Section
11(c) of this Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">By Participant&#146;s signature
and the signature of the Company&#146;s representative below, Participant and the Company agree that this Option is granted under and governed by the
Terms and Conditions of Stock Option Grant, attached hereto as <I>Exhibit A</I>, which is made a part of this document. Participant has reviewed this
Option Agreement in its entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully understands
all provisions of the Option Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Option Agreement. Participant further agrees to notify the Company upon any change in the residence
address indicated below.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">PARTICIPANT:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">COPART, INC.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Signature</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">By</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Print Name</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Title</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><U><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Resident Address:</DIV></U></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-2<BR></FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><U>EXHIBIT A</U></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B>TERMS AND CONDITIONS OF STOCK OPTION
GRANT</B></FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>. As used herein, the following definitions will apply:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Administrator</U>&#148; means the Board or any of its committees as will be administering the Option, in
accordance with Section 17 of the Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Option Agreement</U>&#148; means this Option agreement between the Company and Participant evidencing the
terms and conditions of this Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Board</U>&#148; means the Board of Directors of the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cause</U>&#148; means (i) any act of dishonesty made by Participant in connection with Participant&#146;s
responsibilities as a Service Provider; (ii) Participant&#146;s conviction of, or plea of nolo contendere to, a felony or any crime involving fraud,
embezzlement or any other act of moral turpitude; (iii) Participant&#146;s gross misconduct; (iv) willful and continued failure of Participant to
substantially perform his or her principal duties and/or obligations of employment to his or her Employer; or (v) Participant&#146;s unauthorized use
or disclosure of any proprietary information or trade secrets of the Company or any other party to whom Participant owes an obligation of nondisclosure
as a result of Participant&#146;s relationship with the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Change in Control</U>&#148; means the occurrence of any of the following events:</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i) &nbsp;&nbsp;&nbsp;&nbsp;A
change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group, (&#147;Person&#148;)
acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power
of the stock of the Company; provided, however, that for purposes of this subsection (i), the acquisition of additional stock by any one Person, who is
considered to own more than 50% of the total voting power of the stock of the Company will not be considered a Change in Control; or</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(ii) &nbsp;&nbsp;&nbsp;&nbsp;A
change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12)
month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment
or election. For purposes of this clause (ii), if any Person is considered to effectively control the Company, the acquisition of additional control of
the Company by the same Person will not be considered a Change in Control; or</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(iii)&nbsp;&nbsp;&nbsp;&nbsp;A
change in the ownership of a substantial portion of the Company&#146;s assets which occurs on the date that any Person acquires (or has acquired during
the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total
gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such
acquisition or acquisitions; provided, however, that for purposes of this subsection (iii), the following will not constitute a change in the ownership
of a substantial portion of the Company&#146;s assets: (A) a transfer to an entity that is controlled by the Company&#146;s stockholders immediately
after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company (immediately before the asset transfer) in exchange
for or with respect to the Company&#146;s stock, (2) an entity, 50% or more of the total value or voting power of which is owned, directly or
indirectly, by the Company, (3) a Person, that owns, directly or indirectly, 50% or more of the total value or voting power of all the outstanding
stock of the Company, or (4) an entity, at least 50% of the total value or voting power of which is owned, directly or indirectly, by a Person
described in this subsection (iii)(B)(3). For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company,
or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 60px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For purposes of this Section
1(e), persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or
acquisition of stock, or similar business transaction with the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(f)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code
herein will be a reference to any successor or amended section of the Code.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-3<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(g)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Common Stock</U>&#148; means the common stock of the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(h)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Company</U>&#148; means Copart, Inc., a Delaware corporation, or any successor thereto.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(i)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Consultant</U>&#148; means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to
render services to such entity.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(j)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Director</U>&#148; means a member of the Board.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(k)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Disability</U>&#148; means total and permanent disability as defined in Section 22(e)(3) of the
Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(l)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Employee</U>&#148; means any person, including Officers and Directors, employed by the Company or any Parent or
Subsidiary of the Company. Neither service as a Director nor payment of a director&#146;s fee by the Company will be sufficient to constitute
&#147;employment&#148; by the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(m)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Fair Market Value</U>&#148; means, as of any date, the value of the Common Stock as the Administrator may
determine in good faith by reference to the price of such stock on any established stock exchange or a national market system on the day of
determination if the Common Stock is so listed on any established stock exchange or a national market system. If the Common Stock is not listed on any
established stock exchange or a national market system, the value of the Common Stock will be determined as the Administrator may determine in good
faith.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(n)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Good Reason</U>&#148; means, within thirty (30) days following the expiration of any Company cure period
(discussed below) following the occurrence of one or more of the following without Participant&#146;s consent: (i) the assignment, reduction or removal
of Participant&#146;s duties or position, either of which results in a material diminution in Participant&#146;s authority, duties or responsibilities
with the Company in effect immediately prior to such assignment, reduction or removal; (ii) a material reduction by the Company of Participant&#146;s
base salary as in effect immediately prior to such reduction; or (iii) the material change in geographic location of Participant&#146;s principal place
of performing his or her duties as a Service Provider of the Company by more than fifty (50) miles. In order for an event to qualify as Good Reason,
Participant must not terminate as a Service Provider without first providing the Company with written notice of the acts or omissions constituting the
grounds for Good Reason within ninety (90) days of the initial existence of the grounds for &#147;Good Reason&#148; and a reasonable cure period of not
less than thirty (30) days following the date of such notice.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(o)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Nonstatutory Stock Option</U>&#148; means an Option that by its terms does not qualify or is not intended
to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(p)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Notice of Grant</U>&#148; means the portion of this Option Agreement to which these Terms and Conditions
of Stock Option Grant are attached.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(q)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Option</U>&#148; means this option to purchase shares of Common Stock granted pursuant to this Option
Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(r)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent</U>&#148; means a &#147;parent corporation,&#148; whether now or hereafter existing, as defined in Section
424(e) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(s)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Participant</U>&#148; means the person named in the Notice of Grant or such person&#146;s
successor.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(t)
&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Service Provider</U>&#148; means an Employee, Director, or Consultant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(u)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Share</U>&#148; means a share of the Common Stock, as adjusted in accordance with Section 11 of this
Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(v)&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subsidiary</U>&#148; means a &#147;subsidiary corporation,&#148; whether now or hereafter existing, as
defined in Section 424(f) of the Code.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Grant of Option</U>. The Company hereby grants to the Participant this Option to purchase the number of Shares
set forth in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the &#147;<U>Exercise Price</U>&#148;), subject to
all of the terms and conditions in this Option Agreement.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-4<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Vesting Schedule</U>. Except as provided in Section 4, the Option awarded by this Option Agreement will vest in
accordance with the vesting provisions set forth in the Notice of Grant. Shares scheduled to vest on a certain date or upon the occurrence of a certain
condition will not vest in Participant in accordance with any of the provisions of this Option Agreement, unless Participant will have been
continuously a Service Provider from the Date of Grant until the date such vesting occurs.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Administrator Discretion</U>. The Administrator, in its discretion, may accelerate the vesting of the balance, or
some lesser portion of the balance, of the unvested Option at any time. If so accelerated, such Option will be considered as having vested as of the
date specified by the Administrator.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise of Option</U>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Right to Exercise</U>. This Option may be exercised only within the term set out in the Notice of Grant, and may
be exercised during such term only in accordance with the terms of this Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Method of Exercise</U>. This Option is exercisable by delivery of an exercise notice, in the form attached as
Exhibit B (the &#147;<U>Exercise Notice</U>&#148;) or in a manner and pursuant to such procedures as the Administrator may determine, which will state
the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the &#147;<U>Exercised Shares</U>&#148;),
and such other representations and agreements as may be required by the Company. The Exercise Notice will be completed by Participant and delivered to
the Company. The Exercise Notice will be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares together with any applicable
tax withholding. This Option will be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such
aggregate Exercise Price.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Method of Payment</U>. Payment of the aggregate Exercise Price will be by any of the following, or a combination
thereof, at the election of Participant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;cash;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;check;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;consideration received by the Company under a formal cashless exercise program adopted by the
Company;</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(d)&nbsp;&nbsp;&nbsp;&nbsp;by net
exercise whereby the Option may be exercised in full or in part by surrendering a portion of the Option as payment of the aggregate Exercise Price per
Share for the number of Shares subject to the Option to be exercised. The number of Shares subject to the Option that would be surrendered in payment
of the Exercise Price would be determined by multiplying the number of Shares to be exercised by the per Share Exercise Price, and then dividing the
product thereof by an amount equal to the per Share Fair Market Value on the date of exercise. If the Fair Market Value of the Shares subject to the
portion of the Option that is surrendered pursuant to a net exercise exceeds the aggregate Exercise Price of the Exercised Shares, the excess will be
paid to the Participant in cash.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(e)&nbsp;&nbsp;&nbsp;&nbsp;surrender of other Shares which have a Fair Market Value on the date of surrender equal to the aggregate Exercise
Price of the Exercised Shares, provided that accepting such Shares, in the sole discretion of the Administrator, will not result in any adverse
accounting consequences to the Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Obligations</U>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax
Withholding</U>. Notwithstanding any contrary provision of this Option Agreement, no certificate representing the Shares will be issued to Participant,
unless and until satisfactory arrangements (as determined by the Administrator) will have been made by Participant with respect to the payment of
income, employment and other taxes which the Company determines must be withheld with respect to such Shares. To the extent determined appropriate by
the Company in its discretion, it will have the right (but not the obligation) to satisfy any tax withholding obligations by reducing the number of
Shares otherwise deliverable to Participant. If Participant fails to make satisfactory arrangements for the payment of any required tax withholding
obligations hereunder at the time of the Option exercise, Participant acknowledges and agrees that the Company may refuse to honor the exercise and
refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.</FONT></DIV></P>
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-5<BR></FONT></DIV></P>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Code Section 409A</U>. Under Code Section 409A, an option that vests after December 31, 2004 that was granted
with a per Share exercise price that is determined by the Internal Revenue Service (the &#147;<U>IRS</U>&#148;) to be less than the Fair Market Value
of a Share on the date of grant (a &#147;<U>Discount Option</U>&#148;) may be considered &#147;deferred compensation.&#148; A Discount Option may
result in (i) income recognition by Participant prior to the exercise of the option, (ii) an additional twenty percent (20%) federal income tax, and
(iii) potential penalty and interest charges. The Discount Option may also result in additional state income, penalty and interest charges to
Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this
Option equals or exceeds the Fair Market Value of a Share on the Date of Grant in a later examination. Participant agrees that if the IRS determines
that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date of grant, Participant will
be solely responsible for Participant&#146;s costs related to such a determination.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">8.&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights as Stockholder</U>. Neither Participant nor any person claiming under or through Participant will have any
of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing
such Shares will have been issued, recorded on the records of the Company or its transfer agents or registrars, and delivered to Participant. After
such issuance, recordation and delivery, Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and
receipt of dividends and distributions on such Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination of Employment</U>. If Participant ceases to be a Service Provider, the Option will remain exercisable
for twelve (12) months, unless such termination is the result of a Covered Termination, in which case the Option will remain exercisable through the
Term/Expiration Date as set forth in the Notice of Grant, to the extent the Option is vested on the date of termination (but in no event later than the
Term/Expiration Date as set forth in the Notice of Grant), and subject to earlier termination as set forth in Section 11(c). Unless otherwise provided
by the Administrator, if on the date of termination Participant is not vested as to the entire Option, the Shares covered by the unvested portion of
the Option will terminate. If after termination Participant does not exercise the Option within the time specified herein, the Option will
terminate.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">10.&nbsp;&nbsp;&nbsp;&nbsp;<U>Leaves of Absence</U>. Unless the Administrator provides otherwise, vesting of the Option granted hereunder will
be suspended during any unpaid leave of absence. Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the
Company, or (ii) transfers between locations of the Company or between the Company, its Parent, or any Subsidiary.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">11.&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustments; Dissolution or Liquidation; Merger or Change in Control</U>.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjustments</U>. In the event that any dividend or other distribution (whether in the form of cash, Shares,
other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off,
combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting
the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available
under the Option Agreement, will adjust the number, class, and price of Shares covered by the Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Dissolution or Liquidation</U>. In the event of the proposed dissolution or liquidation of the Company, the
Administrator will notify Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent an Option has not
been previously exercised, the Option will terminate immediately prior to the consummation of such proposed action.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Change in Control</U>. In the event of a merger or Change in Control, the Option will be treated as the
Administrator determines, including, without limitation, that the Option will be assumed or an equivalent option substituted by the successor
corporation or a Parent or Subsidiary of the successor corporation (the &#147;Successor Corporation&#148;).</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">In the event that the Successor
Corporation does not assume or substitute for the Option, Participant will fully vest in and have the right to exercise all his or her outstanding
Option, including Shares as to which the Option would not otherwise be vested or exercisable. In addition, if the Option is not assumed or substituted
for in the event of a Change in Control, the Administrator will notify Participant in writing or electronically that the Option</FONT></DIV></P>
<!-- agabop mode="frill" last-style="text40" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-6<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<PAGE>
<BR>
<!-- BEGIN DIVISION: DIV_appendix-b PAGE POSITION: 7 -->
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>will be fully vested and
exercisable for a period of time determined by the Administrator in its sole discretion, and the Option will terminate upon the expiration of such
period.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">For the purposes of this
subsection (c), the Option will be considered assumed if, following the Change in Control, the Option confers the right to purchase or receive, for
each Share subject to the Option immediately prior to the Change in Control, the consideration (whether stock, cash, or other securities or property)
received in the merger or Change in Control by holders of Common Stock for each Share held on the effective date of the transaction (and if holders
were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however,
that if such consideration received in the Change in Control is not solely common stock of the Successor Corporation, the Administrator may, with the
consent of the Successor Corporation, provide for the consideration to be received upon the exercise of an Option, for each Share subject to the
Option, to be solely common stock of the Successor Corporation equal in fair market value to the per share consideration received by holders of Common
Stock in the Change in Control.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 40px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Notwithstanding anything in this
subsection (c) to the contrary, an Option that vests, is earned or paid-out upon the satisfaction of one or more performance goals will not be
considered assumed if the Company or its successor modifies any of such performance goals without Participant&#146;s consent; provided, however, a
modification to such performance goals only to reflect the Successor Corporation&#146;s post-Change in Control corporate structure will not be deemed
to invalidate an otherwise valid Option assumption.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">12.&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Guarantee of Continued Service</U>. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED
ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH
THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT,
THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH PARTICIPANT&#146;S RIGHT OR
THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE PARTICIPANT&#146;S RELATIONSHIP AS A SERVICE
PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">13.&nbsp;&nbsp;&nbsp;&nbsp;<U>Address for Notices</U>. Any notice to be given to the Company under the terms of this Option Agreement will be
addressed to the Company, in care of its General Counsel at Copart, Inc., 14185 Dallas Parkway, Suite 300, Dallas, Texas 75254, or at such other
address as the Company may hereafter designate in writing.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">14.&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Transferability of Option</U>. This Option may not be transferred in any manner otherwise than by will or by
the laws of descent or distribution and may be exercised during the lifetime of Participant only by Participant.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">15.&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding Agreement</U>. Subject to the limitation on the transferability of this grant contained herein, this
Option Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties
hereto.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">16.&nbsp;&nbsp;&nbsp;&nbsp;<U>Additional Conditions to Issuance of Stock</U>. If at any time the Company will determine, in its discretion,
that the listing, registration or qualification of the Shares upon any securities exchange or under any state or federal law, or the consent or
approval of any governmental regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant (or his or her
estate), such issuance will not occur unless and until such listing, registration, qualification, consent or approval will have been effected or
obtained free of any conditions not acceptable to the Company. The Company will make all reasonable efforts to meet the requirements of any such state
or federal law or securities exchange and to obtain any such consent or approval of any such governmental authority. Assuming such compliance, for
income tax purposes the Exercised Shares will be considered transferred to Participant on the date the Option is exercised with respect to such
Exercised Shares.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">17.&nbsp;&nbsp;&nbsp;&nbsp;<U>Administrator Authority</U>. The Administrator will have the power to interpret this Option Agreement and to
adopt such rules for the administration, interpretation and application of the Option Agreement as are consistent</FONT></DIV></P>
<!-- agabop mode="frill" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-7<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<PAGE>
<BR>
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<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><BR>therewith and to interpret or
revoke any such rules (including, but not limited to, the determination of whether or not any Shares subject to the Option have vested). The
Administrator has full authority and discretion to administer this Option Agreement, including but not limited to the authority to: (i) modify or amend
the Option (subject to Section 21 of this Option Agreement), including, but not limited to, the discretionary authority to extend the post-termination
exercise period of the Option, (ii) authorize any person to execute on behalf of the Company any instrument required to effect the grant or amendment
of the Option previously granted or amended by the Administrator, and (iii) provide for the transferability of the Option. All actions taken and all
interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. No member of the Administrator will be personally liable for any action, determination or interpretation made in good faith with
respect to this Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">18.&nbsp;&nbsp;&nbsp;&nbsp;<U>Electronic Delivery</U>. The Company may, in its sole discretion, decide to deliver any documents related to the
Option by electronic means or request Participant&#146;s consent by electronic means. Participant hereby consents to receive such documents by
electronic delivery through any on-line or electronic system established and maintained by the Company or another third party designated by the
Company.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">19.&nbsp;&nbsp;&nbsp;&nbsp;<U>Captions</U>. Captions provided herein are for convenience only and are not to serve as a basis for
interpretation or construction of this Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">20.&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreement Severable</U>. In the event that any provision in this Option Agreement will be held invalid or
unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the
remaining provisions of this Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">21.&nbsp;&nbsp;&nbsp;&nbsp;<U>Modifications to the Agreement</U>. This Option Agreement constitutes the entire understanding of the parties on
the subjects covered. Participant expressly warrants that he or she is not accepting this Option Agreement in reliance on any promises,
representations, or inducements other than those contained herein. Modifications to this Option Agreement can be made only in an express written
contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in this Option Agreement, the Company reserves
the right to revise this Option Agreement as it deems necessary or advisable, in its sole discretion and without the consent of Participant, to comply
with Code Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code in connection to
this Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">22.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. This Option Agreement will be governed by the laws of the State of Delaware, without giving
effect to the conflict of law principles thereof. For purposes of litigating any dispute that arises under this Option or this Option Agreement, the
parties hereby submit to and consent to the jurisdiction of the State of Texas, and agree that such litigation will be conducted in the courts of
Dallas County, Texas, or the federal courts for the United States for the Northern District of Texas, and no other courts, where this Option is made
and/or to be performed.</FONT></DIV></P>
<!-- agabop mode="ep" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-8<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
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<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><B><U>EXHIBIT B</U></B></FONT></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 9px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>COPART, INC.</B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>STAND-ALONE STOCK OPTION AGREEMENT</B></FONT></DIV></DIV></P>
<P ALIGN="CENTER"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><B>EXERCISE NOTICE</B></FONT></DIV></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Copart, Inc.<BR> 14185 Dallas Parkway, Suite 300<BR>
Dallas, Texas 75254</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">Attention: [__________]</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise of Option</U>. Effective as of today, ___________, ____, the undersigned (&#147;Purchaser&#148;) hereby
elects to purchase __________ shares (the &#147;Shares&#148;) of the Common Stock of Copart, Inc. (the &#147;Company&#148;) under and pursuant to the
Stand-Alone Stock Option Agreement dated __________(the &#147;Option Agreement&#148;). The purchase price for the Shares will be $_______, as required
by the Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery of Payment</U>. Purchaser herewith delivers to the Company the full purchase price of the Shares and any
required tax withholding to be paid in connection with the exercise of the Option.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations of Purchaser</U>. Purchaser acknowledges that Purchaser has received, read and understood the
Option Agreement and agrees to abide by and be bound by their terms and conditions.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Rights as Stockholder</U>. Until the issuance (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder will
exist with respect to the Shares subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired will be issued to
Participant as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record date is
prior to the date of issuance, except as provided in Section 11 of the Option Agreement.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax Consultation</U>. Purchaser understands that Purchaser may suffer adverse tax consequences as a result of
Purchaser&#146;s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems
advisable in connection with the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any tax
advice.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="MARGIN-TOP: 5px; TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2">6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire Agreement; Governing Law</U>. The Option Agreement is incorporated herein by reference. This Exercise
Notice and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be modified
adversely to the Purchaser&#146;s interest except by means of a writing signed by the Company and Purchaser. This Option Agreement is governed by the
internal substantive laws, but not the choice of law rules, of the State of Delaware.</FONT></DIV></P>
<P ALIGN="JUSTIFY"><DIV STYLE="TEXT-INDENT: 20px" ALIGN="JUSTIFY"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Submitted by:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Accepted by:</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">PARTICIPANT:</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">COPART, INC.</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Signature</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">By</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Print Name</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Title</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><U><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Address:</DIV></U></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF"
SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></DIV></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="48%"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></DIV></TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD WIDTH=3%>&nbsp;&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="48%" COLSPAN="3"><DIV ALIGN="LEFT"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Date Received</DIV></FONT></DIV></TD>
</TABLE>
&nbsp;<BR>
<!-- agabop mode="frill" last-style="text" -->
<P ALIGN="CENTER"><DIV ALIGN="CENTER"><FONT FACE="TIMES NEW ROMAN, TIMES, SERIF" SIZE="2">B-9<BR></FONT></DIV></P>
<HR NOSHADE SIZE="5">
<!-- END DIVISION: DIV_appendix-b PAGE POSITION: 9 -->
<BR>

<PAGE>
<div>
<div>&#160;</div>

<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td width="50%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><img src="pic1.jpg"></font></div>
</td>
<td colspan="2" valign="top" width="41%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><img src="pic2.jpg"></font> &#160; &#160; </div>

<div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Electronic Voting Instructions</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Available 24 hours a day, 7 days a week!</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Instead of mailing your proxy, you may choose one of the voting methods outlined below to vote your proxy. </font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">VALIDATION DETAILS ARE LOCATED BELOW IN THE TITLE BAR.</font></font></div>
</div>
</td>
</tr><tr>
<td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="top" width="41%">
<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Proxies submitted by the Internet or telephone must be received by </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">1:00 a.m., Central Time, on December 16, 2013.</font></font></div>
</div>

<div>&#160;</div>
</td>
</tr><tr>
<td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><img src="code1.jpg">&#160;&#160;</font></td>
<td width="40%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font></font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vote by Internet</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226; Go to <font style="DISPLAY: inline; FONT-WEIGHT: bold">www.investorvote.com/CPRT</font></font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226; Or scan the QR code with your smartphone </font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226; Follow the steps outlined on the secure website</font></font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></font></div>
</div>
</td>
</tr><tr>
<td width="50%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vote by telephone</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226; Call toll free 1-800-652-VOTE (8683) within the USA, US
territories &amp; <BR>
&nbsp;&nbsp;Canada on a touch tone telephone</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8226; Follow the instructions provided by the recorded message </font></font></div>
</td>
</tr></table>
</div>

<div>&#160;</div>

<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td nowrap width="1%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Using a <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">black ink</font> </font>pen, mark your votes with an <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">X </font>as shown in </font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">this example. Please do not write outside the designated areas.</font></font></div>
</div>
</div>
</td>
<td width="50%"><font style="FONT-SIZE: 15pt; FONT-FAMILY: wingdings"><font style="DISPLAY: inline; FONT-SIZE: 15pt; FONT-FAMILY: wingdings">&#160;x</font></font></td>
</tr></table>
</div>

<div>&#160;</div>

<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td width="25%" bgcolor="silver" style="BORDER-TOP: black 2px solid; BORDER-BOTTOM: black 2px solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Annual Meeting Proxy Card</font></font></div>
</td>
<td width="25%" bgcolor="silver" style="BORDER-TOP: black 2px solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font color="deeppink" style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font color="deeppink" style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">1234&#160;&#160;5678&#160;&#160;9012&#160;&#160;345</font></font></div>
</div>
</td>
</tr></table>
</div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#9660; <font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">IF YOU HAVE NOT VOTED VIA THE INTERNET <U>OR</U> TELEPHONE, FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.</font>&#160;&#9660;</font></div>
</div>

<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td width="100%" style="BORDER-TOP: red 2px dashed"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr></table>
</div>
</div>
</div>

<div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font color="white" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BACKGROUND-COLOR: black">&#160;<font style="FONT-WEIGHT: bold">A&#160;</font></font><font style="FONT-WEIGHT: bold">&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Proposals &#8212; The Board of Directors recommends a vote <font style="TEXT-DECORATION: underline">FOR</font> all the nominees listed in Proposal 1 and <font style="TEXT-DECORATION: underline">FOR</font> Proposals 2, 3, 4 and 5.</font></font></font></div>
</div>

<div>&#160;</div>

<div align="center">
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<tr>
<td nowrap width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">1. </font></td>
<td nowrap width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Election of Directors:</font></font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">For</font></font></div>
</td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Withhold</font></font></div>
</td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">For</font></font></div>
</td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Withhold</font></font></div>
</td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">For</font></font></div>
</td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Withhold</font></font></div>
</td>
<td width="4%"><font style="FONT-SIZE: 28pt; FONT-FAMILY: times new roman"><div style="TEXT-ALIGN: right"><B>+</B></font></td>
</tr><tr>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr>
<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">01 - Willis J. Johnson</font></font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">02 - A. Jayson Adair</font></font></div>
</td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">03 - Matt Blunt</font></font></div>
</td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">04 - Steven D. Cohan</font></font></td>
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<td width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">05 - Daniel J. Englander</font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">06 - James E. Meeks</font></font></div>
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<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">07 - Vincent W. Mitz</font></font></td>
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<td width="2%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">08 - Thomas N. Tryforos</font></font></div>
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<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">For</font></font></div>
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<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Against</font></font></div>
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<td width="4%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Abstain</font></font></div>
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<td valign="top" width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">2.</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">To approve the amendment and restatement of the 2007 Equity Incentive Plan and the number of shares reserved for issuance thereunder.</font></font></div>
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<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td valign="top" width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">3.</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">To approve the grant of an option to acquire 2,000,000 and 1,500,000 shares of our common stock to each of A. Jayson Adair, our chief executive officer, and Vincent W. Mitz, our president, respectively, as more fully described in the proxy statement, such grants to be made in lieu of any cash salary or bonus compensation in excess of $1.00 per year or the grant of any additional equity incentives for a five-year period.</font></font></div>
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<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr>
<td valign="top" width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">4.</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Advisory (non-binding) vote to approve executive compensation for the year ended July 31, 2013 (say on pay vote).</font></font></div>
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</tr><tr>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<td valign="top" width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">5.</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">Ratify the appointment of Ernst &amp; Young LLP as our independent registered public accounting firm for the fiscal year ending July 31, 2014.</font></font></div>
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</tr><tr>
<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td width="4%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr>
<td valign="top" width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: times new roman">6.</font></td>
<td colspan="9" width="10%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"> </font>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">In their discretion, the proxies are authorized to vote upon such other business as may properly come before the meeting.</font></font></div>
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<td valign="top" width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td>
<td valign="top" width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td>
<td valign="top" width="4%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td>
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<div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></div>

<div>
<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font color="white" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BACKGROUND-COLOR: black">&#160;B&#160;</font>&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Authorized Signatures &#8212; This section must be completed for your vote to be counted. &#8212; Date and Sign Below</font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sign exactly as your name(s) appears on your stock certificate. A corporation is requested to sign its name by its President or other authorized officer, with the office held designated. Executors, administrators, trustees, etc. are requested to so indicate when signing. If stock is registered in two names, both should sign.</font></div>
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<div align="center">
<table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
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<td valign="bottom" width="20%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Date (mm/dd/yyyy) &#8212; Please print date below.</font></div>
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<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
<td nowrap valign="bottom" width="20%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Signature 1 &#8212; Please keep signature within the box.</font></div>
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<td width="2%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
<td nowrap valign="bottom" width="20%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Signature 2 &#8212; Please keep signature within the box.</font></div>
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<td width="20%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="FONT-WEIGHT: bold; FONT-SIZE: 15pt; FONT-FAMILY: times new roman">/&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;/</font></td>
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<td width="20%" style="BORDER-RIGHT: black 2px solid; BORDER-TOP: black 2px solid; BORDER-LEFT: black 2px solid; BORDER-BOTTOM: black 2px solid">
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<div>&#160;</div>
</td>
<td width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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<div>&#160;</div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Proxy for 2013 Annual Meeting of Stockholders</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 3pt">&#160;</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">December 16, 2013</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF COPART, INC.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The undersigned stockholder of Copart, Inc. (the &#8220;Company&#8221;) hereby revokes all previous proxies, acknowledges receipt of the notice of the 2013 Annual Meeting of Stockholders to be held on December 16, 2013, and the proxy statement and appoints A. Jayson Adair and Paul A. Styer or either of them, each with full power of substitution, as the proxy and attorney-in-fact of the undersigned to vote and otherwise represent all of the shares registered in the name of the undersigned at the 2013 Annual Meeting of Stockholders of the Company to be held on Monday, December 16, 2013, at 8:00 a.m. Central Time, at 14185 Dallas Parkway, Suite 300, Dallas, TX 75254, and any adjournment thereof, with the same effect as if the undersigned were present and voting such shares on the following matters and in the following manner set forth on the reverse side.</font></div>

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</div>
</div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font color="white" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BACKGROUND-COLOR: black">&#160;C&#160;</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;Non-Voting Items</font></div>

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<td width="20%"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><div style="MARGIN-LEFT: 6pt">Meeting Attendance</font></font></DIV></td>
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<div>&#160;</div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><div style="MARGIN-LEFT: 6pt">Mark box to the right if you plan to attend the Annual Meeting.</font></font></DIV></div>
</td>
<td valign="top" width="10%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-FAMILY: wingdings">o</font></font></td>
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<div>&#160;</div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-SIZE: 22pt; FONT-FAMILY: WingDings">n</font></font></div>
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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><br>
</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: left">&#160;</div>

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