<SEC-DOCUMENT>0001193125-18-206584.txt : 20180628
<SEC-HEADER>0001193125-18-206584.hdr.sgml : 20180628
<ACCEPTANCE-DATETIME>20180628073704
ACCESSION NUMBER:		0001193125-18-206584
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20180627
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180628
DATE AS OF CHANGE:		20180628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RPM INTERNATIONAL INC/DE/
		CENTRAL INDEX KEY:			0000110621
		STANDARD INDUSTRIAL CLASSIFICATION:	PAINTS, VARNISHES, LACQUERS, ENAMELS & ALLIED PRODUCTS [2851]
		IRS NUMBER:				020642224
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14187
		FILM NUMBER:		18923208

	BUSINESS ADDRESS:	
		STREET 1:		2628 PEARL RD
		STREET 2:		P O BOX 777
		CITY:			MEDINA
		STATE:			OH
		ZIP:			44258
		BUSINESS PHONE:		3302735090

	MAIL ADDRESS:	
		STREET 1:		2628 PEARL RD
		STREET 2:		P O BOX 777
		CITY:			MEDINA
		STATE:			OH
		ZIP:			44258

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RPM INTERNATIONAL INC/OH/
		DATE OF NAME CHANGE:	20021015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RPM INC/OH/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REPUBLIC POWDERED METALS INC
		DATE OF NAME CHANGE:	19711027
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d809456d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): June&nbsp;27, 2018 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>RPM INTERNATIONAL INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-14187</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">02-0642224</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>2628 Pearl Road, P.O. Box 777, Medina, Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>44258</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (330)
<FONT STYLE="white-space:nowrap">273-5090</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report.) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;27, 2018, RPM International
Inc. (the &#147;Company&#148;) entered into a Cooperation Agreement (the &#147;Cooperation Agreement&#148;) with Elliott Associates, L.P., Elliott International, L.P. and Elliott International Capital Advisors Inc. (collectively,
&#147;Elliott&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Cooperation Agreement, and subject to the conditions set forth therein, on June&nbsp;27, 2018 the
board of directors of the Company (the &#147;Board&#148;) expanded the size of the Board to fourteen (14)&nbsp;directors and appointed Kirkland Andrews to serve as a Class&nbsp;I member of the Board (the &#147;Class&nbsp;I Designee&#148;) and John
Ballbach to serve as a Class&nbsp;II member of the Board (the &#147;Class&nbsp;II Designee&#148; and, together with the Class&nbsp;I Designee, the &#147;Designees&#148; and each a &#147;Designee&#148;). The Company also agreed that, subject to the
conditions set forth therein, the Board will nominate the Class&nbsp;II Designee for election to the Board at the Company&#146;s 2018 Annual Meeting of Stockholders (the &#147;2018 Annual Meeting&#148;). If, prior to the Trigger Date (as defined
below), a Designee resigns, refuses or is unable to serve or fulfill such Designee&#146;s duties as director, then Elliott shall select a replacement director, subject to the consent of the Company (which consent shall not be unreasonably withheld
or delayed), whom the Board reasonably determines qualifies as independent and otherwise satisfies the Board membership criteria set forth in the Company&#146;s Corporate Governance Guidelines, Categorical Independence Standards for Directors and
the Governance and Nominating Committee Charter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the Cooperation Agreement, at the 2018 Annual Meeting and any annual or special
meeting of the stockholders held prior to the Expiration Date (as defined below), Elliott has agreed to vote, or cause to be voted, all of the Company&#146;s common stock that Elliott or its controlled affiliates are entitled to vote in favor of
directors currently on the Board and nominated by the Company&#146;s Board and otherwise in accordance with the Board&#146;s recommendation on any proposal not related to an Extraordinary Transaction (as defined below), subject to certain limited
exceptions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Also under the Cooperation Agreement, the Company has agreed to propose amendments, and recommend that the Company&#146;s
stockholders vote in favor of such amendments at the 2018 Annual Meeting to the Company&#146;s Amended and Restated Certificate of Incorporation (as may be amended from time to time, the &#147;Certificate of Incorporation&#148;) and the
Company&#146;s Amended and Restated <FONT STYLE="white-space:nowrap">By-Laws</FONT> (as may be amended from time to time, the <FONT STYLE="white-space:nowrap">&#147;By-Laws&#148;),</FONT> as applicable, to (i)&nbsp;eliminate Classes I, II and II of
the Board, so that the Board will have no classification (the &#147;Declassification Amendment&#148;) and (ii)&nbsp;reduce the threshold for action taken by the Company&#146;s stockholders to a simple majority. The Declassification Amendment will
provide that beginning at the 2018 annual meeting of the Company&#146;s stockholders and at each succeeding annual meeting of stockholders thereafter, the successors to the class of directors whose term expires at such meeting will be elected to
hold office for a term expiring at the annual meeting of the Company&#146;s stockholders held in the year following the year of their election; and accordingly, following the annual meeting of stockholders held in 2020, the classification of the
Company&#146;s directors will terminate in its entirety. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the Company has agreed to form an Operating Improvement Committee
of the Board (the &#147;Operating Improvement Committee&#148;), which will be comprised of not more than four voting members, including Thomas S. Gross, Robert A. Livingston and the Designees. Mr.&nbsp;Livingston and Mr.&nbsp;Andrews will serve as
the <FONT STYLE="white-space:nowrap">co-chairs</FONT> of the Operating Improvement Committee at all times prior to the Trigger Date. The Operating Improvement Committee shall include the Company&#146;s Chief Executive Officer as a <FONT
STYLE="white-space:nowrap">non-voting</FONT> <I>ex officio </I>member. The Operating Improvement Committee will assist and advise the Board on issues relating to a High-Performance Plan Initiative for the Company with respect to cost-cutting
initiatives, short-term and long-term balance sheet optimization plans, net working capital streamlining initiatives and initiatives regarding appropriate share repurchases (the &#147;HPP Initiative&#148;). The Operating Improvement Committee will
adopt a charter, which will provide, among other things, that the responsibilities of the Operating Improvement Committee will include: (i)&nbsp;reviewing and evaluating, and making recommendations to the Board regarding, the HPP Initiative,
including the timing for the implementation thereof, (ii)&nbsp;providing the Board with updates summarizing its progress to date, as may be requested by the Board from time to time, (iii)&nbsp;providing recommendations to the Compensation Committee
of the Board with respect to alignment of management equity incentives, (iv)&nbsp;from time to time as it determines appropriate, making recommendations to the Board regarding actions to be considered in furtherance of the Operating Improvement
Committee&#146;s purpose, and (v)&nbsp;retaining accountants, consultants, financial advisors, lawyers and other advisors as it may determine, in its sole discretion, are necessary and appropriate. The Operating Improvement Committee will use
reasonable best efforts to make an initial recommendation to the Board on the HPP Initiative as soon as practicable following its review, which the Board will consider as soon as practicable thereafter (and in any event no later than October&nbsp;4,
2018). The Company will finalize and announce the launch of the HPP Initiative no later than November&nbsp;30, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the
Cooperation Agreement, Elliott is subject to certain standstill provisions (the &#147;Standstill&#148;) until the Expiration Date (as defined below), which prohibit Elliott from, among other things, (i)&nbsp;engaging in any solicitation of proxies
or consents with respect to the election or removal of directors or any other matter or proposal with respect to the Company; (ii)&nbsp;knowingly encouraging, </P>

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advising, knowingly influencing or instructing any third party or knowingly assisting any person with the respect to giving or withholding any proxy or authority to vote or dispose of Company
securities; (iii)&nbsp;forming, joining, acting in concert, knowingly encouraging or in any way participating with others, including a &#147;group&#148; (within the meaning of Section&nbsp;13(d) of the Securities Exchange Act of 1934, as amended)
with respect to any voting securities of the Company; (iv)&nbsp;acquiring, offering, seeking or agreeing to acquire, directly or indirectly securities of the Company resulting in Elliott having beneficial ownership of ten percent (10%) or more of
the Company&#146;s then-outstanding shares or economic exposure to fifteen percent (15%) or more of the Company&#146;s then-outstanding shares; (v)&nbsp;engaging in any short sale or any purchase, sale or grant of any option, warrant, convertible
security, stock appreciation right, or other similar right that relates to or derives any significant part of its value from a decline in the market price or value of any securities of the Company if such short sale, purchase, sale or grant would
result in the Investors no longer having a net long position (as defined in Rule <FONT STYLE="white-space:nowrap">14e-4</FONT> under the Exchange Act) in respect of the Company&#146;s stock; (vi)&nbsp;initiating, effecting, or participating,
seeking, offering, proposing to effect, cause or participate in any tender offer, exchange offer, merger, consolidation, acquisition, business combination, sale of all or substantially all assets, sale, spinoff, splitoff or other similar separation
of one or more business units, scheme of arrangement, plan of arrangement, business combination transaction, recapitalization, reorganization, liquidation, dissolution, issuance of at least fifteen percent (15%) of the Company&#146;s equity or
equity equivalent securities or other extraordinary business transaction involving the Company or any of its subsidiaries or joint ventures (an &#147;Extraordinary Transaction&#148;); (vii) entering into a voting trust, arrangement or agreement or
subjecting any Company securities to any trust, arrangement or agreement with respect to Company securities owned by them; (viii)&nbsp;seeking, alone or in concert with others, representation on the Board or the removal of any member of the Board,
requesting or knowingly encouraging any person to request the Company call a meeting of the stockholders, conducting or knowingly encouraging another person to conduct a referendum of stockholders of the Company or present any matter at a meeting of
stockholders of the Company; (ix)&nbsp;making any stockholder proposal; (x)&nbsp;making any request for stock list materials or other books and records of the Company; (xi)&nbsp;making any public disclosure, communication, announcement or statement
regarding any intent, purpose, plan or proposal with respect to the Board, the Company, its management, policies or affairs, any of its securities or assets or the Cooperation Agreement that is inconsistent with the provisions of the Cooperation
Agreement; (xii)&nbsp;taking any action or making any proposal, statement or request with respect to controlling, changing or influencing the Board or management of the Company, including any plans or proposals relating to any change in the number
or term of directors or the filling of any vacancies on the Board, any material change in the capitalization, stock repurchase programs and practices, capital allocation programs and practices or dividend policy of the Company, any other material
change in the Company&#146;s management, business, corporate or governance structure, any waiver, amendment or modification to the Certificate of Incorporation or <FONT STYLE="white-space:nowrap">By-Laws,</FONT> or to other actions by the Company
that may facilitate or impede the acquisition of control of the Company by any person, causing a class of securities of the Company to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or causing a class of
equity securities of the Company to become eligible for termination of registration pursuant to Section&nbsp;12(g)(4) of the Securities Exchange Act of 1934; (xiii) instituting, soliciting, knowingly assisting or joining any litigation or other
proceeding against the Company or any of its current, former or future officers; (xiv)&nbsp;making any public or private request or submit any proposal, directly or indirectly, to amend or waive the terms of the Cooperation Agreement, in each case,
which would reasonably be expected to require a public announcement of such request or proposal; (xv)&nbsp;publicly disclosing or otherwise making any public statement or announcement of any intention, purpose, plan or arrangement inconsistent with
any provision of the Standstill; (xvi)&nbsp;entering into any negotiations, discussions, agreements or understandings with any third party to take any action with respect to any of the foregoing, or advising, facilitating, knowingly assisting,
financing, knowingly encouraging or seeking to persuade any third party to take any action that Elliott is prohibited from taking pursuant to the Standstill; in each case, subject to certain limited exceptions. Each of the parties also agreed to
mutual <FONT STYLE="white-space:nowrap">non-disparagement</FONT> obligations until the Expiration Date (as defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Elliott&#146;s
obligations under the Cooperation Agreement terminate on the date that is the earlier of (i)&nbsp;the fifth business day after written notice is delivered by Elliott to the Company of any material breach of the Cooperation Agreement that is uncured
within the notice period, (ii)&nbsp;the 30th day prior to the last day of the Company&#146;s advance notice period for the nomination of directors at the Company&#146;s 2019 Annual Meeting of Stockholders and (iii)&nbsp;the failure of the Company to
meet any of the deadlines with respect to the recommendations and announcement of the HPP Initiative set forth above (such date, the &#147;Expiration Date&#148;). The Company&#146;s obligations under the Cooperation Agreement terminate on the date
that is the earlier of (i)&nbsp;the fifth business day after written notice is delivered by the Company to Elliott of any material breach of the Cooperation Agreement that is uncured within the notice period and (ii)&nbsp;the 30th day prior to the
last day of the time period, established pursuant to the <FONT STYLE="white-space:nowrap">By-Laws,</FONT> for stockholders to deliver notice to the Company of director nominations to be brought before the Company&#146;s 2019 Annual Meeting of
Stockholders (such date, the &#147;Trigger Date&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of terms and conditions of the Cooperation Agreement
does not purport to be complete and is qualified in its entirety by reference to the full text of the Cooperation Agreement, a copy of which is attached to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> as Exhibit 10.1 and
incorporated herein by reference. </P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Appointment of Kirkland Andrews and John Ballbach to the Board of Directors </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;27, 2018, the Board appointed Kirkland Andrews to serve as a Class&nbsp;I director of the Board and John Ballbach to serve as a
Class&nbsp;II director of the Board in accordance with the terms of the Cooperation Agreement, as described in Item 1.01 hereof, and filed as Exhibit 10.1 hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other than as described in Item 1.01 hereof, (i)&nbsp;there are no arrangements or understandings between Mr.&nbsp;Andrews and any other
person pursuant to which he was appointed as a director, and (ii)&nbsp;there are no arrangements or understandings between Mr.&nbsp;Ballbach and any other person pursuant to which he was appointed as a director. Following the appointment of the
Designees to the Board, the size of the Board is fourteen (14)&nbsp;directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Ballbach served as an Operating Advisor with
Clayton, Dubilier&nbsp;&amp; Rice (&#147;Clayton&#148;), a private equity investment firm, from June 2014 to 2017. In connection with his role as an Operating Advisor at Clayton, Mr.&nbsp;Ballbach served as Chairman and director for Solenis, LLC, a
specialty chemicals manufacturer, which is a portfolio company of Clayton. Mr.&nbsp;Ballbach served as Chairman of VWR International, LLC, a leading global laboratory supply and distribution company, from 2007 to 2012, and he was President and Chief
Executive Officer from 2005 to 2012. Mr.&nbsp;Ballbach served as an independent director at Valspar from 2012 until the company&#146;s sale to Sherwin-Williams in 2017. In addition, he is a former corporate officer of Valspar, having served as
President and Chief Operating Officer from 2002 to 2004 and in various senior management positions since 1990. Mr.&nbsp;Ballbach also served as a director and member of the audit committee of The Timken Company, a publicly traded global manufacturer
of bearings and related components, until <FONT STYLE="white-space:nowrap">mid-2014.</FONT> He also previously served as a Director of Celanese Corp, a producer of specialty materials and chemical products. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Andrews has served as Executive Vice President and Chief Financial Officer of NRG Energy, Inc. (&#147;NRG&#148;) since September
2011. Mr.&nbsp;Andrews is a director of NRG Yield, Inc., and he also served as Executive Vice President, Chief Financial Officer of NRG Yield, Inc. from December 2012 to November 2016. Prior to joining NRG, he served as Managing Director and <FONT
STYLE="white-space:nowrap">Co-Head</FONT> Investment Banking, Power and Utilities&#150;Americas at Deutsche Bank Securities from June 2009 to September 2011. Prior to this, he served in several capacities at Citigroup Global Markets Inc., including
Managing Director, Group Head, North American Power Investment Banking from November 2007 to June 2009, and Managing Director and Head of Power M&amp;A from July 2005 to November 2007. In his banking career, Mr.&nbsp;Andrews led numerous strategic,
debt, equity and commodities transactions, including multiple advisory roles for NRG. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Designee&#146;s compensation for service as a
director will be consistent with that of the Company&#146;s other directors who are not employees or consultants of the Company, as described in the Company&#146;s definitive proxy statement filed with the Securities and Exchange Commission on
August&nbsp;24, 2017 under the caption &#147;Director Compensation,&#148; which portion of such proxy statement is incorporated herein by reference. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with their appointments as a director, the Company will enter into indemnification agreements with Messrs. Andrews and Ballbach
effective as of June&nbsp;27, 2018. The indemnification agreements are the same as the indemnification agreements the Company has entered into with each of its directors and executive officers. The indemnification agreement requires the Company to
indemnify each director to the fullest extent permitted by law against all expenses, judgments, settlements, fines and penalties, actually and reasonably incurred in the defense or settlement of any civil, criminal, administrative or investigative
action brought against the director by reason of his relationship with the Company, including third-party claims and proceedings brought by or in the right of the Company, subject to certain exceptions. The rights provided to Messrs. Andrews and
Ballbach under the indemnification agreements are in addition to any other rights they may be entitled to under the Certificate of Incorporation or <FONT STYLE="white-space:nowrap">By-laws,</FONT> the General Corporation Law of the State of Delaware
or otherwise. The description of the indemnification agreement set forth in this Item 5.02 is not complete and is qualified in its entirety by reference to the full text of the form of indemnification agreement. The form of indemnification agreement
between the Company and each of its directors and executive officers was filed as Exhibit 10.14 to the Company&#146;s Quarterly Report on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the quarter ended November&nbsp;30, 2002 and is
incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There have been no transactions involving the Company or any of its subsidiaries in which
Mr.&nbsp;Andrews or Mr.&nbsp;Ballbach have or will have a direct or indirect material interest that are required to be disclosed by Item 404(a) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT> </P>

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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On June&nbsp;28, 2018, the Company issued a press release
announcing the Company&#146;s entry into the Cooperation Agreement, the increase in the size of the Board to fourteen (14)&nbsp;directors and the appointment of Kirkland Andrews and John Ballbach. A copy of the press release is attached hereto as
Exhibit 99.1 and furnished herewith. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Exhibits </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d809456dex101.htm">Cooperation Agreement, dated as of June&nbsp;27, 2018, by and among RPM International Inc., Elliott Associates, L.P., Elliott International, L.P., and Elliott International Capital Advisors Inc.
</A></TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d809456dex991.htm">Press Release, dated June&nbsp;28, 2018, announcing the appointment of Kirkland Andrews and John Ballbach to the Board. </A></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top"><U>RPM International Inc.</U></TD></TR>
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<TD VALIGN="top">(Registrant)</TD></TR>
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<TD VALIGN="top">Date: June&nbsp;28, 2018</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward W. Moore</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Edward W. Moore</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Senior Vice President, General
Counsel and</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Chief Compliance Officer</P></TD></TR>
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d809456dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>COOPERATION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Cooperation Agreement (this &#147;<U>Agreement</U>&#148;) is made and entered into as of June&nbsp;27, 2018, by and among RPM
International Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), Elliott Associates, L.P., a Delaware limited partnership<B> </B>(&#147;<U>Elliott Associates</U>&#148;), Elliott International, L.P., a Cayman Islands limited partnership
(&#147;<U>Elliott International</U>&#148;), and Elliott International Capital Advisors Inc., a Delaware corporation (together with Elliott Associates and Elliott International, the &#147;<U>Investors</U>&#148;). Capitalized terms used herein and not
otherwise defined have the meanings ascribed to them in paragraph 15 below. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITALS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Investors have engaged in certain discussions concerning the Company; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Investors desire to enter into an agreement regarding the appointment and election of certain directors to the
Board of Directors of the Company (the &#147;<U>Board</U>&#148;) and certain other matters, in each case, on the terms and subject to the conditions set forth therein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of and reliance upon the mutual covenants and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Director Appointments; Committees; Board Size</U>. Effective as of the date hereof and upon the execution and delivery of this Agreement, the Board shall (a)&nbsp;increase the size of the Board to fourteen
(14)&nbsp;directors<B> </B>and (b)&nbsp;appoint Kirkland Andrews to serve as a Class&nbsp;I member of the Board (such Designee, the &#147;<U>Class</U><U></U><U>&nbsp;I Designee</U>&#148;) and John Ballbach to serve as a Class&nbsp;II member of the
Board (such Designee, the &#147;<U>Class</U><U></U><U>&nbsp;II Designee</U>&#148; and together with the Class&nbsp;I Designee, the &#147;<U>Designees</U>&#148; and each a &#147;<U>Designee</U>&#148;). </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>Designee Agreements, Arrangements and Understandings</U>. Each of the Investors represents, warrants and agrees that neither it nor any of its Affiliates (a)&nbsp;has made or will make any payments to any Designee in
connection with such Designee&#146;s (i)&nbsp;agreement to serve or proposal of such person by the Investors as a Replacement Designee (as hereinafter defined) or (ii)&nbsp;service on the Board or any committee thereof or (b)&nbsp;has or will have
any agreement, arrangement or understanding, written or oral, with any Designee in connection with such Designee&#146;s (i)&nbsp;agreement to serve or proposal of such person by the Investors as a Replacement Designee or (ii)&nbsp;service on the
Board or any committee thereof. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Designee Replacements.</U> If, prior to the Trigger Date (as hereinafter defined), a Designee resigns, refuses
or is unable to serve or fulfill his or her duties as a director, then the Investors shall select a replacement director, subject to the consent of the Company (which consent shall not be unreasonably withheld or delayed), whom the Board shall have
reasonably determined qualifies as Independent and otherwise satisfies the Board membership criteria set forth in the </P></TD></TR></TABLE>

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Company&#146;s Corporate Governance Guidelines, Categorical Independence Standards for Directors and the Governance and Nominating Committee Charter (a &#147;<U>Replacement Designee</U>&#148;).
Subject to paragraph 4 hereof, the Company shall cause such Replacement Designee to be appointed to the Board to serve the unexpired term of the departed Designee, and such Replacement Designee shall be considered a Designee and either the
Class&nbsp;I Designee or Class&nbsp;II Designee, as the case may be, for all purposes of this Agreement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><U>Designee Information</U>. As a condition to, and prior to, each Replacement Designee&#146;s appointment to the Board, such proposed Replacement Designee shall have provided the Company with: (i)&nbsp;a completed
D&amp;O questionnaire in the same form as the Company intends to use with all of its directors in advance of the 2018 Annual Meeting (as defined below) (with such changes as required by applicable law, rule, regulation or stock exchange rules or
listing standards); (ii) information reasonably requested by the Company of all of its directors in connection with assessing eligibility, independence and other criteria applicable to outside directors or satisfying compliance and legal
obligations; (iii)&nbsp;such written consents requested by the Company as may be reasonably necessary for the conduct of the Company&#146;s standard vetting procedures conducted with respect to all
<FONT STYLE="white-space:nowrap">non-management</FONT> directors and the execution of any documents reasonably required by the Company of <FONT STYLE="white-space:nowrap">non-management</FONT> directors to assure compliance with the matters
referenced in paragraph 8 hereof; and (iv)&nbsp;such other information reasonably requested by the Company including, without limitation, an acknowledgment from such proposed Replacement Designee that he or she intends to serve for the full term for
which he or she is appointed or elected (including, in the case of any replacement of the Class&nbsp;II Designee prior to the 2018 Annual Meeting, any term to which he would be elected at the 2018 Annual Meeting). As a further condition to the
Company&#146;s nomination of a Designee for election as a director at the Annual Meeting, such Designee shall have, reasonably promptly upon the request of the Company, provided the Company with: (i)&nbsp;an executed consent to be named as a nominee
in the Company&#146;s proxy statement and to serve as a director if so elected and (ii)&nbsp;information requested by the Company from all <FONT STYLE="white-space:nowrap">non-management</FONT> directors with respect to its proxy statement or other
filings under applicable law or stock exchange rules or listing standards. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Amendments to Certificate of Incorporation and <FONT STYLE="white-space:nowrap">By-Laws</FONT></U>. Promptly
following the execution and delivery of this Agreement (and in no event later than July&nbsp;17, 2018), the Board shall pass resolutions in the form attached hereto as <U>Exhibit A</U> proposing amendments (and recommending that the Company&#146;s
stockholders vote in favor of such amendments at the Company&#146;s 2018 Annual Meeting of Stockholders (including any postponement or adjournment thereof, the &#147;<U>2018 Annual Meeting</U>&#148;)) to the Company&#146;s Amended and Restated
Certificate of Incorporation (as may be amended from time to time, the &#147;<U>Certificate of Incorporation</U>&#148;) and the Company&#146;s Amended and Restated <FONT STYLE="white-space:nowrap">By-Laws</FONT> (as may be amended from time to time,
the &#147;<U><FONT STYLE="white-space:nowrap">By-Laws</FONT></U>&#148;), as applicable, to (i)&nbsp;eliminate Classes I, II and III of the Board so that the Board shall have no classification and (ii)&nbsp;reduce the threshold for action taken by
the Company&#146;s stockholders to a </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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simple majority (including, without limitation, Article VII of the Charter and Article XIV of the Bylaws) (collectively, the &#147;<U>Amendments</U>&#148;). For the avoidance of doubt, directors
elected at the 2018 Annual Meeting (and directors up for election at each annual meeting thereafter) will be elected for <FONT STYLE="white-space:nowrap">one-year</FONT> term. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><U>2018 Annual Meeting</U>. The Company shall include the Class&nbsp;II Designee (or the Replacement Designee) on its slate for election as directors of the Company at the 2018 Annual Meeting and shall use its
reasonable best efforts (which shall include the solicitation of proxies) to cause the election of the Class&nbsp;II Designee at the 2018 Annual Meeting (it being understood that such efforts shall not be less than the efforts used by the Company to
cause the election of any other Class&nbsp;II director nominee nominated by the Company at the 2018 Annual Meeting). The Company shall include the Amendments in its proxy statement for the 2018 Annual Meeting, and shall use its reasonable best
efforts (which shall include the solicitation of proxies) to cause the Amendments to be adopted by the Company&#146;s stockholders by the appropriate vote. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"><U>Voting of Investors</U><U>&#146;</U><U> Shares</U>. In connection with any annual or special meeting of the stockholders of the Company (and any adjournments or postponements thereof) held prior to the Expiration
Date (as hereinafter defined), the Investors will cause to be present for quorum purposes and vote or cause to be voted all Voting Securities that they or their respective controlled Affiliates are entitled to vote as of the applicable record date,
in favor of, (A)&nbsp;the election of the Designees and any other directors who are nominated by the Board; and (B)&nbsp;otherwise in accordance with the Board&#146;s recommendation on any proposal not related to (i)&nbsp;an Extraordinary
Transaction (as defined herein); (ii) any proposed issuance of shares of common stock, par value $0.01, of the Company (the &#147;<U>Common Stock</U>&#148;) or any securities convertible into, or exercisable or exchangeable for, Common Stock, in
each case, that requires a vote of the Company stockholders under NYSE Rule 312.03(c); (iii) any proposal by the Company to adopt any takeover defense measures or any other proposal by the Company that would diminish or otherwise impair in any
material respect the rights of Company stockholders or (iv)&nbsp;the issuance of at least fifteen percent (15%) of the Company&#146;s equity or equity equivalent securities to a Third Party (including in a PIPE, convertible note, convertible
preferred security or similar structure). </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Company Policies</U>. The Investors acknowledge that each of the Designees, upon election or appointment to
the Board, will serve as a member of the Board and will be governed by the same protections and obligations regarding confidentiality, conflicts of interest, related party transactions, fiduciary duties, codes of conduct, trading and disclosure
policies, director resignation policy, and other governance guidelines and policies of the Company as other <FONT STYLE="white-space:nowrap">non-management</FONT> directors (collectively, &#147;<U>Company Policies</U>&#148;)<B> </B>and shall be
required to preserve the confidentiality of the Company&#146;s business and information, including discussions or matters considered in meetings of the Board or committees thereof in accordance with their respective fiduciary duties, applicable law
and applicable Company Policies, if any, and shall have the same rights and benefits, including </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
with respect to insurance, indemnification, compensation and fees, as are applicable to all <FONT STYLE="white-space:nowrap">non-management</FONT> directors of the Company. All Company Policies
in effect as of the date hereof are publicly available on the Company&#146;s website or described in its proxy statement filed with the SEC on August&nbsp;24, 2017, or have otherwise been provided to the Investors. The Company agrees that
(i)&nbsp;it will not amend any Company Policies in any manner for the purpose of disqualifying any Designee and (ii)&nbsp;any changes to the Company Policies, or new Company Policies, will be adopted in good faith and not for the purpose of
undermining or conflicting with the arrangements contemplated by this Agreement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"><U>Operating Improvement Committee</U>. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top">As promptly as practicable following the execution of this Agreement, the Board shall take all action necessary to form a committee of the Board to assist, advise and make recommendations to the Board on issues relating
to the Company&#146;s operational and cost improvement initiatives and optimization (the &#147;<U>Operating Improvement Committee</U>&#148;). The Board shall cause the Operating Improvement Committee to adopt a charter (the &#147;<U>Operating
Improvement Committee Charter</U>&#148;), as promptly as practicable following its formation, in accordance with the terms set forth on <U>Exhibit B</U> attached hereto, and subject to the Investors&#146; reasonable consent. Once the Operating
Improvement Committee Charter is adopted, the Operating Improvement Committee Charter may not be amended prior to the Trigger Date without the prior written consent of the Investors (in their sole and absolute discretion). The Company shall cause
the Operating Improvement Committee to be comprised of not more than four (4)&nbsp;voting members from its formation until the Trigger Date and shall include the Company&#146;s Chief Executive Officer as a
<FONT STYLE="white-space:nowrap">non-voting</FONT> <I>ex officio </I>member. The four initial voting members shall consist of Thomas S. Gross, Robert A. Livingston and the Designees. For the avoidance of doubt, the Designees shall always be entitled
to act as members of the Operating Improvement Committee. Robert A. Livingston and Kirkland Andrews shall serve as <FONT STYLE="white-space:nowrap">co-chairs</FONT> of the Operating Improvement Committee at all times prior to the Trigger Date.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top">The Operating Improvement Committee shall use reasonable best efforts to make the initial HPP Initiative Recommendation (as defined in <U>Exhibit B</U>) as soon as practicable, which the Board shall consider as soon as
practicable thereafter (and in any event no later than October&nbsp;4, 2018). The Company shall finalize and announce the launch of the HPP Initiative no later than November&nbsp;30, 2018 (such announcement, the &#147;<U>Launch
Announcement</U>&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"><U>Private Communications; Confidentiality</U>. Notwithstanding anything to the contrary contained in this Agreement, during the Restricted Period (as defined herein), the Investors and their respective Affiliates may
initiate and hold private communications regarding the Company and its Affiliates with the Board as a whole and/or any director without <FONT STYLE="white-space:nowrap">pre-approval</FONT> or participation of any other director or any other
Person,<B> </B>in each case, only so long as such private communications do not violate the terms of this Agreement (including, without limitation, paragraph 12 hereof). Each of the Investors acknowledges and agrees that the directors may engage in
discussions with the Investors and their respective Affiliates only subject to, and in accordance with, their respective fiduciary duties and other obligations to the Company and the Company Policies. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><U>Press Releases; SEC Filings</U>. Not later than 7:30 am ET on June&nbsp;28, 2018, the Company shall issue a press release in the form attached hereto as <U>Exhibit C</U> (the &#147;<U>Company Press
Release</U>&#148;). Substantially concurrently with the release of the Company Press Release, the Company shall file a Current Report on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> which shall be in form and substance reasonably acceptable to
the Company and the Investors. Neither of (i)&nbsp;the Company nor any of its Affiliates or Associates nor (ii)&nbsp;the Investors nor any of their Affiliates or Associates shall make any public statement regarding the subject matter of this
Agreement or the matters set forth in the Company Press Release prior to the issuance thereof. The Investors shall, and shall cause their respective Affiliates and Associates to, cause any public filings or public announcements that reference this
Agreement or the actions contemplated to be taken in connection with this Agreement or are otherwise made in connection therewith to be consistent with the Company Press Release and the terms of this Agreement. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><U>Standstill.</U> From the date of this Agreement until the Expiration Date (such period, the &#147;<U>Restricted Period</U>&#148;), the Investors will not, and will cause their respective Affiliates and Associates and
their respective principals, directors, general partners, officers, employees, and agents and representatives acting on their behalf (collectively, the &#147;<U>Restricted Persons</U>&#148;) not to, directly or indirectly, alone or in concert with
others, absent prior express written invitation or authorization on behalf of the Board: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top">engage in any &#147;solicitation&#148; (as such term is defined under the Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;)) of proxies or consents with respect to the election or removal
of directors or any other matter or proposal with respect to the Company or become a &#147;participant&#148; (as such term is defined in Instruction 3 to Item 4 of Schedule 14A promulgated under the Exchange Act) in any such solicitation of proxies
(including, without limitation, by initiating, encouraging or participating in any &#147;withhold&#148; or similar campaign); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">knowingly encourage, advise, knowingly influence or instruct any Third Party or knowingly assist any Person in so
encouraging, advising, knowingly influencing or instructing any Third Party with respect to the giving or withholding of any proxy or other authority to vote, the voting or disposition of Voting Securities, or in conducting any type of referendum,
binding or <FONT STYLE="white-space:nowrap">non-binding,</FONT> relating to the Company (other than such </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
encouragement, advice or influence that is consistent with Company management&#146;s recommendation in connection with such matter); <U>provided</U> that nothing in this clause (b)&nbsp;shall be
deemed to restrict the Investor or any of its Affiliates from acquiring any Voting Securities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top">form, join, act in concert, knowingly encourage or in any way participate with any partnership, limited partnership, syndicate or other group, including a &#147;group&#148; as defined pursuant to Section&nbsp;13(d) of
the Exchange Act with respect to any Voting Securities, other than solely with other Affiliates (that are not portfolio companies) of the Investors with respect to Voting Securities now or hereafter owned by them; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top">acquire, or offer, seek or agree to acquire, by purchase or otherwise, or direct any Third Party in the acquisition of, any securities (or any rights decoupled from the underlying securities) or assets of the Company,
or rights or options to acquire any securities (or rights decoupled from the underlying securities) or assets of the Company, or engage in any swap or hedging transactions or other derivative agreements of any nature with respect to securities (or
rights decoupled from the underlying securities) or assets of the Company, in each case, if such acquisition would result in the Investors having an aggregate beneficial ownership of ten percent (10%) or more of the then-outstanding Voting
Securities or economic exposure to fifteen percent (15%) or more of the then-outstanding Voting Securities; <U>provided</U> that nothing herein will require any Voting Securities to be sold solely to the extent that the Investors exceed the
ownership limit under this clause (d)&nbsp;as the result of a share repurchase or similar Company action that reduces the number of outstanding shares of any Voting Securities; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top">engage in any short sale or any purchase, sale or grant of any option, warrant, convertible security, stock appreciation right, or other similar right (including any put or call option or &#147;swap&#148; transaction
with respect to any security (other than a broad-based market basket or index)) that includes, relates to or derives any significant part of its value from a decline in the market price or value of any securities of the Company if such short sale,
purchase, sale or grant would result in the Investors no longer having a net long position (as defined in Rule <FONT STYLE="white-space:nowrap">14e-4</FONT> under the Exchange Act) in respect of the Common Stock; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">f.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">initiate, effect or participate in any way in, or seek to offer or propose to effect, cause or participate in any
way in, any tender or exchange offer, merger, consolidation, acquisition, sale of all or substantially all assets or sale, spinoff, splitoff or other similar separation of one or more business units, scheme of arrangement, plan of arrangement,
business combination transaction, recapitalization, reorganization, liquidation, dissolution, issuance of at least fifteen percent (15%) of the Company&#146;s equity or equity equivalent securities (including in a PIPE, convertible note, convertible
preferred security or similar structure) or other extraordinary </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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<TR style = "page-break-inside:avoid">
<TD WIDTH="13%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
transaction involving the Company or any of its subsidiaries or joint ventures or any of their respective securities or a material amount of any of their respective assets or businesses (each, an
&#147;<U>Extraordinary Transaction</U>&#148;); <U>provided</U>, <U>however</U>, that this clause (f)&nbsp;shall not restrict: (i)&nbsp;the tender (or failure to tender) by the Investor or any of its Affiliates of any securities of the Company into
any tender or exchange offer, (ii)&nbsp;the vote for or against any transaction by the Investor or any of its Affiliates of any securities of the Company with respect to any Extraordinary Transaction, or (iii)&nbsp;the receipt of any consideration
by the Investor or any of its Affiliates on the same basis as other stockholders of the Company in connection with an Extraordinary Transaction; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">g.</TD>
<TD ALIGN="left" VALIGN="top">enter into a voting trust, arrangement or agreement or subject any Voting Securities to any voting trust, arrangement or agreement, in each case other than solely with other Affiliates (that are not portfolio companies)
of the Investors, with respect to Voting Securities now or hereafter owned by them and other than granting proxies in solicitations approved by the Board; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">h.</TD>
<TD ALIGN="left" VALIGN="top">(i)&nbsp;seek, alone or in concert with others, election or appointment to, or representation on, the Board or nominate or propose the nomination of, or recommend the nomination of, any candidate to the Board (except as
set forth in paragraphs 1(b) and 3), (ii) request that, or knowingly encourage any Person to request that, the Company call any meeting of the stockholders (iii)&nbsp;seek, or knowingly encourage any Person to seek, the removal of any member of the
Board, (iv)&nbsp;conduct, or knowingly encourage any Person to conduct, a referendum of stockholders of the Company; or (v)&nbsp;present any matter at any meeting of stockholders of the Company; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">i.</TD>
<TD ALIGN="left" VALIGN="top">make or be the proponent of any stockholder proposal (pursuant to Rule <FONT STYLE="white-space:nowrap">14a-8</FONT> under the Exchange Act, the <FONT STYLE="white-space:nowrap">By-Laws</FONT> or otherwise);
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">j.</TD>
<TD ALIGN="left" VALIGN="top">make any request for stock list materials or other books and records of the Company under Section&nbsp;220 of the Delaware General Corporation Law or other statutory or regulatory provisions providing for stockholder
access to books and records; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">k.</TD>
<TD ALIGN="left" VALIGN="top">make any public disclosure, communication, announcement or statement regarding any intent, purpose, plan or proposal with respect to the Board, the Company, its management, policies or affairs, any of its securities or
assets or this Agreement that is inconsistent with the provisions of this Agreement; </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">l.</TD>
<TD ALIGN="left" VALIGN="top">take any action or make any public proposal or request with respect to: (i)&nbsp;controlling, changing or influencing the Board or management of the Company, including any plans or proposals relating to any change in
the number or term of directors or the filling of any vacancies on the Board, (ii)&nbsp;any material change in the capitalization, stock repurchase programs and practices, capital allocation programs and practices or dividend policy of the Company,
(iii)&nbsp;any other material change in the Company&#146;s management, business, corporate or governance structure, (iv)&nbsp;any waiver, amendment or modification to the Certificate of Incorporation or the
<FONT STYLE="white-space:nowrap">By-Laws,</FONT> or to other actions by the Company that may facilitate or impede the acquisition of control of the Company by any Person, (v)&nbsp;causing a class of securities of the Company to be delisted from, or
to cease to be authorized to be quoted on, any securities exchange or (vi)&nbsp;causing a class of equity securities of the Company to become eligible for termination of registration pursuant to Section&nbsp;12(g)(4) of the Exchange Act;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">m.</TD>
<TD ALIGN="left" VALIGN="top">institute, solicit, knowingly assist or join any litigation, arbitration or other proceeding against or involving the Company or any of its current, former or future directors or officers (including derivative actions);
<U>provided</U>, <U>however</U>, that for the avoidance of doubt the foregoing shall not prevent any Restricted Person from (i)&nbsp;bringing litigation to enforce the provisions of this Agreement instituted in accordance with and subject to this
paragraph 12, (ii) making counterclaims with respect to any proceeding initiated by, or on behalf of, the Company against a Restricted Person, (iii)&nbsp;bringing bona fide commercial disputes that do not relate to the subject matter of this
Agreement or (iv)&nbsp;exercising statutory appraisal rights; <U>provided</U>, <U>further</U>, that the foregoing shall also not prevent the Restricted Persons from responding to or complying with a validly issued legal process; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">n.</TD>
<TD ALIGN="left" VALIGN="top">make any public or private request or submit any proposal, directly or indirectly, to amend or waive the terms of this Agreement, in each case, which would reasonably be expected to require a public announcement of such
request or proposal; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">o.</TD>
<TD ALIGN="left" VALIGN="top">publicly disclose or otherwise make any public statement or announcement of any intention, purpose, plan or arrangement inconsistent with any provision of this paragraph 12; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">p.</TD>
<TD ALIGN="left" VALIGN="top">enter into any negotiations, discussions, agreements or understandings with any Third Party to take any action with respect to any of the foregoing, or advise, facilitate, knowingly assist, finance, knowingly encourage
or seek to persuade any Third Party to take any action that the Investors are prohibited from taking pursuant to this paragraph 12; </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that (i)&nbsp;the restrictions in this paragraph 12 shall not prevent the Investor or any of its Affiliates from making
(1)&nbsp;any factual statement as required by applicable legal process, subpoena, or legal requirement from any governmental authority with competent jurisdiction over the party from whom information is sought (so long as such request did not arise
as a result of discretionary acts by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Investors or any of their respective Affiliates); (2) any confidential communication to the Company in accordance with paragraph 10, including the requirement therein that the communication not
be reasonably expected to require any public disclosure; (3)&nbsp;any public or private statement or announcement with respect to an Extraordinary Transaction that is publicly announced by the Company or a Third Party; (4)&nbsp;any public or private
statement or announcement after the Launch Announcement with respect to the process, findings or recommendations of the Operating Improvement Committee and the Board (including the final HPP Initiative Recommendation) with respect to the HPP
Initiative Recommendation, the HPP Initiative or the implementation thereof; and (5)&nbsp;any statement (whether positive or negative) that is in substance not inconsistent with this Agreement and the Press Release (or as otherwise consented to by
the Company, such consent not to be unreasonably withheld, conditioned or delayed) in response to any public statements by any other current or potential investor in the Company; and (ii)&nbsp;the restrictions in this paragraph 12 shall terminate
automatically upon the earliest of (A)&nbsp;the Expiration Date; (B)&nbsp;upon the announcement by the Company that it has entered into a definitive agreement with respect to any Extraordinary Transaction that would, if consummated, result in the
acquisition of beneficial ownership by any Person or group of Persons (other than any direct or indirect subsidiaries of the Company) of more than 50% of the Common Stock; (C)&nbsp;the commencement of any tender or exchange offer (by a Person other
than the Investors or their Affiliates) which, if consummated, would constitute an Extraordinary Transaction that would result in the acquisition of beneficial ownership by any person or group of more than 50% of the Common Stock, where the Company
files a Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> (or any amendment thereto), other than a &#147;stop, look and listen&#148; communication by the Company pursuant to Rule <FONT STYLE="white-space:nowrap">14d-9(f)</FONT> promulgated
under the Exchange Act, that does not recommend that the Company&#146;s stockholders reject such tender or exchange offer; and (D)&nbsp;any public statement or announcement by the Company with respect to the adoption or recommendation by the Board
of any amendment to the Certificate of Incorporation or <FONT STYLE="white-space:nowrap">By-Laws</FONT> that would reasonably be expected to impair the ability of a stockholder to submit nominations for election to the Board or stockholder proposals
in connection with any future annual meeting of stockholders of the Company. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U><FONT STYLE="white-space:nowrap">Non-Disparagement</FONT></U>. During the Restricted Period, the Company and
the Investors shall each refrain from making, and shall cause their respective Affiliates and its and their respective principals, directors, members, general partners, officers and employees not to make or cause to be made any statement or
announcement, including in any document or report filed with or furnished to the SEC or through the press, media, analysts or other Persons, that constitutes an ad hominem attack on, or otherwise disparages, defames, slanders, impugns or is
reasonably likely to damage the reputation of, (a)&nbsp;in the case of statements or announcements by any of the Investors and their related Persons, the current, former or future officers, directors or employees of the Company or any of its
Affiliates or, prior to November&nbsp;30, 2018, the Company or any of its Affiliates, and (b)&nbsp;in the case of statements or announcements by the Company and its </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
related Persons, the Investors or any of the Investors&#146; advisors, their respective current, former or future officers, directors, employees, members or general partners. The foregoing shall
not (i)&nbsp;restrict the ability of any Person to comply with any subpoena or other legal process or respond to a request for information (provided that such request is not targeted at this Agreement or the other party hereto) from any governmental
authority with competent jurisdiction over the party from whom information is sought, (ii)&nbsp;apply to any private communications between the Investors, their respective Affiliates and its and their respective principals, directors, members,
general partners, officers and employees, on the one hand, and the directors of the Company, on the other hand, pursuant to paragraph 10 hereof to the extent that it would not be reasonably expected that such communication would require a public
disclosure, (iii)&nbsp;restrict the ability of the Investors and their related Persons to make any public or private statement or announcement after the Launch Announcement with respect to the process, findings or recommendations of the Operating
Improvement Committee and the Board (including the final HPP Initiative Recommendation), with respect to the HPP Initiative Recommendation, the HPP Initiative or the implementation thereof, or (iv)&nbsp;restrict the ability of the Investors and
their related Persons to make any statement in response to any criminal or civil investigation by any governmental authority related to the Company, its Affiliates, or any of its and their respective current, former or future officers, directors or
employees. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"><U>Termination</U>. The obligations of the Company under this Agreement shall terminate on the Trigger Date. The obligations of the Investors under this Agreement shall terminate on the Expiration Date. Termination of
obligations shall be without prejudice to any rights or remedies arising from breach of such obligations before such termination. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"><U>Defined Terms.</U> As used in this Agreement, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Affiliate</U>&#148; shall have the meaning set forth in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> promulgated under the Exchange Act and shall include Persons who become Affiliates of any Person
subsequent to the date of this Agreement; <U>provided</U> that &#147;Affiliates&#148; of a Person shall not include any entity, solely by reason of the fact that one or more of such Person&#146;s employees or principals serves as a member of its
board of directors or similar governing body, unless such Person otherwise controls such entity (as the term &#147;control&#148; is defined in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> promulgated by the SEC under the Exchange Act);
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Associate</U>&#148; shall have the meaning set forth in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> promulgated under the Exchange Act (<U>provided</U>, that the term &#147;Associates&#148; in such
definition shall be deemed to be preceded by the word &#147;controlled&#148;) and shall include Persons who become Associates of any Person subsequent to the date of this Agreement. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">c.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>beneficial owner</U>,&#148; &#147;<U>beneficially own</U>&#148; and &#147;<U>beneficial ownership</U>&#148; shall have the respective meanings set forth in Rule <FONT STYLE="white-space:nowrap">13d-3</FONT>
(&#147;<U>Rule <FONT STYLE="white-space:nowrap">13d-3</FONT></U>&#148;) promulgated by the SEC under the Exchange Act; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">d.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>business day</U>&#148; shall mean any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank of New York is closed; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">e.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>economic owner</U>,&#148; &#147;<U>economically own</U>&#148; and &#147;<U>economic ownership</U>&#148; shall have the same meanings as &#147;beneficial owner,&#148; &#147;beneficially own&#148; and
&#147;beneficial ownership&#148; except that a Person will also be deemed to &#147;economically own,&#148; to be the &#147;economic owner&#148; and to have &#147;economic ownership&#148; of (i)&nbsp;all shares of Common Stock or other Voting
Securities which such Person has the right to acquire pursuant to the exercise of any rights in connection with any securities or any agreement, regardless of when such rights may be exercised and whether they are conditional, and (ii)&nbsp;all
shares of Common Stock or other Voting Securities in which such Person has an economic interest pursuant to a cash settled call option or other derivative security, contract or instrument related to the price of shares of Common Stock or other
Voting Securities (other than a broad-based market basket or index); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">f.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Expiration Date</U>&#148; means the date that is the earlier of (i)&nbsp;the fifth (5th) business day after written notice is delivered by the Investors to the Company of a material breach of this Agreement by
the Company if such breach has not been cured within such notice period; <U>provided</U> that no Investor is then in material breach of this Agreement (it being understood that occurrence of the Expiration Date shall be a <FONT
STYLE="white-space:nowrap">non-exclusive</FONT> remedy for such breach); (ii) the thirtieth (30th) day prior to the last day of the time period, established pursuant to the <FONT STYLE="white-space:nowrap">By-Laws,</FONT> for stockholders to deliver
notice to the Company of director nominations to be brought before the Company&#146;s 2019 Annual Meeting of Stockholders; and (iii)&nbsp;the failure of the Company to meet any of the deadlines set forth in paragraph 9(b) of this Agreement.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">g.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Independent</U>&#148;<B> </B>means that a Person (x)&nbsp;(i) shall not be an employee, director, general partner, manager, advisor, representative, trustee, or other agent or fiduciary of an Investor or of any
Affiliate of an Investor, (ii)&nbsp;shall not be a limited partner, member or other investor in any Investor or any Affiliate (that is not a publicly traded portfolio company) of an Investor and (iii)&nbsp;shall not have any agreement, arrangement
or understanding, written or oral, with, or received or have any right to receive any payment from, an Investor or any Affiliate thereof in connection with such Designee&#146;s agreement to serve or service on the Board, and (y)&nbsp;shall qualify
as an independent director of the Company under the Company&#146;s independence guidelines applicable to <FONT STYLE="white-space:nowrap">non-management</FONT> directors (as interpreted and determined by the Board), applicable law and the rules and
regulations of the SEC and the NYSE (or applicable requirements of such other national securities exchange designated as the primary market on which the Company&#146;s Common Stock is listed for trading); </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">h.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Person</U>&#148; shall be interpreted broadly to include, among others, any individual, general or limited partnership, corporation, limited liability or unlimited liability company, joint venture, estate,
trust, group, association or other entity of any kind or structure; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">i.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>SEC</U>&#148; means the U.S.<B> </B>Securities and Exchange Commission; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">j.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Third Party</U>&#148;<B> </B>means any Person that is not (i)&nbsp;a party to this Agreement or an Affiliate thereof, (ii)&nbsp;a director or officer of the Company or (iii)&nbsp;legal counsel to any party to
this Agreement; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">k.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Trigger Date</U>&#148; means the date that is the earlier of (i)&nbsp;the fifth (5th) business day after written notice is delivered by the Company to the Investors of a material breach of this Agreement by the
Investors if such breach has not been cured within such notice period; <U>provided</U> that the Company is not then in material breach of this Agreement (it being understood that occurrence of the Trigger Date shall be a <FONT
STYLE="white-space:nowrap">non-exclusive</FONT> remedy for such breach) and (ii)&nbsp;the thirtieth (30th) day prior to the last day of the time period, established pursuant to the <FONT STYLE="white-space:nowrap">By-Laws,</FONT> for stockholders to
deliver notice to the Company of director nominations to be brought before the Company&#146;s 2019 Annual Meeting of Stockholders; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">l.</TD>
<TD ALIGN="left" VALIGN="top">&#147;<U>Voting Securities</U>&#148; shall mean the shares of Common Stock and any other securities of the Company entitled to vote in the election of directors, or securities convertible into, or exercisable or
exchangeable for, such shares, whether or not subject to the passage of time or other contingencies. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Investors&#146; Representations and Warranties, Covenants.</U> Each of the Investors represents and warrants
that (a)&nbsp;this Agreement has been duly authorized, executed and delivered by it and is a valid and binding obligation of such Investor, enforceable against it in accordance with its terms, except as enforcement thereof may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the rights of creditors and subject to general equity principles; (b)&nbsp;each Investor has the power and authority to execute,
deliver and carry out the terms and provisions of this Agreement; (c)&nbsp;the execution and delivery by the Investors of this Agreement and the performance of the Investors&#146; obligations hereunder does not and will not violate any law, any
order of any court or other agency of government, the organizational documents of any Investor, or any provision of any agreement or other instrument to which any Investor or any of its properties or assets is bound, or conflict with, result in a
breach of or constitute (with due notice or lapse of time or both) a default under any such agreement or other </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
instrument, or result in the creation or imposition of, or give rise to, any material lien, charge, restriction, claim, encumbrance or adverse penalty of any nature whatsoever pursuant to any
such indenture, agreement or other instrument; and (d)&nbsp;as of the date of this Agreement, each of the Investors and their Affiliates, beneficially owns or economically owns, directly or indirectly, such number of shares of Common Stock as
indicated on Exhibit D attached hereto, and such shares of Common Stock constitute all of the Common Stock beneficially or economically owned, as of the date of this Agreement, by any Investor and Affiliate thereof or in which any Investor or
Affiliate thereof has any interest or right to acquire or vote, whether through derivative securities, voting agreements or otherwise. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"><U>Company Representations and Warranties</U>. The Company represents and warrants that (a)&nbsp;this Agreement has been duly authorized, executed and delivered by it and is a valid and binding obligation of the
Company, enforceable against the Company in accordance with its terms, except as enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or similar laws generally affecting the
rights of creditors and subject to general equity principles; (b)&nbsp;it has the power and authority to execute, deliver and carry out the terms and provisions of this Agreement; (c)&nbsp;this Agreement does not require the approval of the
stockholders of the Company; (d)&nbsp;the execution and delivery by the Company of this Agreement and the performance of the Company&#146;s obligations hereunder does not and will not violate any law, any order of any court or other agency of
government, the Certificate of Incorporation, the <FONT STYLE="white-space:nowrap">By-Laws</FONT> or any provision of any agreement or other instrument to which the Company or any of its properties or assets is bound, or conflict with, result in a
breach of or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, or result in the creation or imposition of, or give rise to, any material lien, charge, restriction, claim, encumbrance or
adverse penalty of any nature whatsoever pursuant to any such indenture, agreement or other instrument; and (e)&nbsp;the Company has not taken any actions that require disclosure on a Form <FONT STYLE="white-space:nowrap">8-K</FONT> prior to the
date of this Agreement that have not previously been disclosed. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"><U>Affiliates</U>. Each of the Investors agrees that it will cause its controlled Affiliates to comply with the terms of this Agreement. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"><U>Specific Performance</U>. The Company and each of the Investors each acknowledge and agree that money damages would not be a sufficient remedy for any breach (or threatened breach) of this Agreement by it and that,
in the event of any breach or threatened breach hereof, (a)&nbsp;the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party will be entitled to injunctive and other equitable relief, without proof of actual damages; (b)&nbsp;the breaching party
will not plead in defense thereto that there would be an adequate remedy at law; and (c)&nbsp;the breaching party agrees to waive any applicable right or requirement that a bond be posted by the <FONT STYLE="white-space:nowrap">non-breaching</FONT>
party. Such remedies will not be the exclusive remedies for a breach of this Agreement, but will be in addition to all other remedies available at law or in equity. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"><U>Entire Agreement; Successors and Assigns; Amendment and Waiver</U>. This Agreement (including its exhibits and schedules) constitutes the only agreement between the Investors and the Company with respect to the
subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions, whether oral or written (except for any consent given prior to the date hereof). This Agreement shall be binding upon and inure to the benefit
of the parties and their respective successors and permitted assigns. No party may assign or otherwise transfer either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party.
Any purported transfer without such consent shall be void. No amendment, modification, supplement or waiver of any provision of this Agreement shall be effective unless it is in writing and signed by the party affected thereby, and then only in the
specific instance and for the specific purpose stated therein. Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any
other provision of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict
adherence to that term or any other term of this Agreement. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"><U>Severability</U>. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement shall remain in full force and effect. Any
provision of this Agreement held invalid or unenforceable only in part or degree shall remain in full force and effect to the extent not held invalid or unenforceable. The parties further agree to replace such invalid or unenforceable provision of
this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the purposes of such invalid or unenforceable provision. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Governing Law; Jurisdiction</U>. This Agreement shall be governed by and construed in accordance with the laws
of the State of Delaware. Each of the Investors and the Company (a)&nbsp;irrevocably and unconditionally consents to the personal jurisdiction and venue of the Delaware Court of Chancery (or, if the Delaware Court of Chancery declines to accept
jurisdiction over a particular matter, the federal or other state courts located in Wilmington, Delaware) and any appellate courts thereof; (b)&nbsp;agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other
request for leave from any such court; (c)&nbsp;agrees that it shall not bring any action relating to this Agreement or the transactions contemplated by this Agreement in any court other than such courts; (d)&nbsp;waives any claim of improper venue
or any claim that those courts are an inconvenient forum and (e)&nbsp;agrees that a final judgment in any action or proceeding shall be conclusive and enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
The parties agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in paragraph 24 hereof or in such other manner as may be permitted by applicable law, shall be valid and sufficient
service thereof. Each of the parties hereto, after </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
consulting or having had the opportunity to consult with counsel, knowingly, voluntarily, intentionally and irrevocably waives any right that such party may have to a trial by jury in any
litigation based upon or arising out of this Agreement or any related instrument or agreement, or any of the transactions contemplated thereby, or any course of conduct, dealing, statements (whether oral or written), or actions of any of them. No
party hereto shall seek to consolidate, by counterclaim or otherwise, any action in which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">23.</TD>
<TD ALIGN="left" VALIGN="top"><U>Parties in Interest.</U> This Agreement is solely for the benefit of the parties hereto and is not binding upon (other than successors to the parties hereto) or enforceable by any other Persons. No party to this
Agreement may assign its rights or delegate its obligations under this Agreement, whether by operation of law or otherwise, and any assignment in contravention hereof shall be null and void. Nothing in this Agreement, whether express or implied, is
intended to or shall confer any rights, benefits or remedies under or by reason of this Agreement on any Persons other than the parties hereto, nor is anything in this Agreement intended to relieve or discharge the obligation or liability of any
Third Party to any party hereto. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">24.</TD>
<TD ALIGN="left" VALIGN="top"><U>Notices.</U> All notices, consents, requests, instructions, approvals and other communications provided for herein, and all legal process in regard hereto, will be in writing and will be deemed validly given, made or
served when delivered in person, by electronic mail, by overnight courier or two business days after being sent by registered or certified mail (postage prepaid, return receipt requested) as follows: </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="86%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">If to the Company to:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RPM International Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">2628 Pearl
Road, P.O. Box 777</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Medina, Ohio 44258</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">General Counsel and Chief Compliance Officer</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-mail:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">emoore@rpminc.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">with a copy (which shall not constitute notice) to:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Simpson Thacher&nbsp;&amp; Bartlett LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">425 Lexington Avenue</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10017</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Mario Ponce</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Eric Swedenburg</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-mail:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">mponce@stblaw.com; eswedenburg@stblaw.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">If to the Investors:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Elliott Associates, L.P.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Elliott International, L.P.</TD></TR></TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="86%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="93%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Elliott International Capital Advisors Inc.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">40 West 57th Street</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, New York 10019</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Jesse A. Cohn; Jeffrey Rosenbaum</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-mail:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">jcohn@elliottmgmt.com; jrosenbaum@elliottmgmt.com</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">with a copy (which shall not constitute notice) to:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Akin Gump Strauss Hauer&nbsp;&amp; Feld LLP</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">1 Bryant Park</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">New York, NY 10036</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Attn:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Jeffrey L. Kochian</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">E-mail:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">jkochian@akingump.com</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">At any time, any party hereto may, by notice given in accordance with this paragraph 24 to the other
party, provide updated information for notices hereunder. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">25.</TD>
<TD ALIGN="left" VALIGN="top"><U>Expenses</U>. All attorneys&#146; fees, costs and expenses incurred in connection with this Agreement and all matters related hereto will be paid by the party incurring such fees, costs or expenses.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">26.</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Interpretation</U>. When a reference is made in this Agreement to a paragraph, such reference shall be to a
paragraph of this Agreement, unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words
&#147;include,&#148; &#147;includes&#148; and &#147;including&#148; are used in this Agreement, they shall be deemed to be followed by the words &#147;without limitation.&#148; The words &#147;hereof,&#148; &#147;herein&#148; and
&#147;hereunder&#148; and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The word &#147;will&#148; shall be construed to have the same meaning as
the word &#147;shall.&#148; The words &#147;date hereof&#148; will refer to the date of this Agreement. The word &#147;or&#148; is not exclusive. The definitions contained in this Agreement are applicable to the singular as well as the plural forms
of such terms. Any agreement, instrument, law, rule or statute defined or referred to herein means, unless otherwise indicated, such agreement, instrument, law, rule or statute as from time to time amended, modified or supplemented. Each of the
parties acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed this Agreement with the advice of such counsel. Each party hereto and
its counsel cooperated and participated in the drafting and preparation of this Agreement, and any and all drafts relating thereto exchanged among the parties shall be deemed the work product of all of the parties and may not be construed against
any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is
hereby expressly waived by each of the </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
parties, and any controversy over interpretations of this Agreement shall be decided without regard to events of drafting or preparation. Notwithstanding anything contained in the definitions of
&#147;Affiliate&#148; or &#147;Associates&#148; to the contrary, for purposes of this Agreement (i)&nbsp;the covenants applicable to each Investor as set forth in this Agreement shall only require such Investor to cause its portfolio companies to
take or refrain from taking action to the extent such Investor has a contractual, legal or other right or ability to cause such portfolio company to take or refrain from taking such action (provided that it shall also constitute a breach of any such
covenant for any Investor to request, instruct or direct any of its portfolio companies to take any action or fail to take any action which action or failure to act would if taken by such Investor constitute a breach of this Agreement) and
(ii)&nbsp;the representations and warranties applicable to each Investor as set forth in this Agreement shall only be made to the knowledge of such Investor to the extent such representations and warranties relate to the portfolio companies of such
Investor. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">27.</TD>
<TD ALIGN="left" VALIGN="top"><U>Counterparts</U>. This Agreement may be executed by the parties in separate counterparts (including by fax, jpeg, .gif, .bmp and .pdf), each of which when so executed shall be an original, but all such counterparts
shall together constitute one and the same instrument. This Agreement shall become effective when one or more counterparts have been signed by each of the parties hereto and delivered (which delivery may be physically, by facsimile, <FONT
STYLE="white-space:nowrap">e-mail</FONT> or by other electronic means) to the other parties hereto. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature page
follows</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the terms of this Agreement are in accordance with your understanding, please sign below,
whereupon this Agreement shall constitute a binding agreement among us. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">RPM INTERNATIONAL INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Frank C. Sullivan</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: Frank C. Sullivan</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title: Chairman and CEO</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page to Cooperation Agreement</I>] </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accepted and agreed to as of the date first written above: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="80%"></TD></TR>


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<TD VALIGN="top" COLSPAN="5">ELLIOTT ASSOCIATES, L.P.</TD></TR>
<TR STYLE="font-size:1pt">
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<TD HEIGHT="16" COLSPAN="4"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Elliott Capital Advisors, L.P., as General Partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" COLSPAN="3">Braxton Associates, Inc., as General Partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joshua Nadell</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Joshua Nadell</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top">Vice President</TD></TR>
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<TD VALIGN="top" COLSPAN="5">ELLIOTT INTERNATIONAL, L.P.</TD></TR>
<TR STYLE="font-size:1pt">
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" COLSPAN="3">Elliott Capital Advisors, L.P., as General Partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">Braxton Associates, Inc., as General Partner</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joshua Nadell</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
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<TD VALIGN="top">Joshua Nadell</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
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<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">ELLIOTT INTERNATIONAL CAPITAL ADVISORS INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joshua Nadell</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Joshua Nadell</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top">Vice President</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page to Cooperation Agreement</I>] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g809456dsp0001.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RPM Announces Agreement with Elliott Management on New Initiatives to </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Improve Operating and Financial Performance and Enhance Shareholder Value </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Two New Independent Directors, Kirkland (&#147;Kirk&#148;) B. Andrews and John M. Ballbach, with Highly Value-Added Skill Sets, Appointed to the Board of Directors </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Forms New Operating Improvement Committee of the Board to Conduct Comprehensive Business Review Focused on Operational and Financial Value Creating Initiatives </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Engages Leading Consulting Firm Focused on Operational Improvements </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MEDINA, OH &#150; June&nbsp;28, 2018
&#150; RPM International Inc. (NYSE: RPM), a world leader in specialty coatings and sealants, today announced several new initiatives designed to bolster operational and financial improvement and enhance shareholder value. The initiatives announced
today include the appointment of two new independent directors to RPM&#146;s Board of Directors (the &#147;Board&#148;), Kirkland (&#147;Kirk&#148;) B. Andrews and John M. Ballbach, and the formation of a new Operating Improvement Committee
(&#147;OIC&#148;) of the Board. As part of its commitment to good corporate governance, the Company also announced that it will approve and recommend amendments to its Amended and Restated Certificate of Incorporation to provide for an annually
elected Board. These initiatives follow constructive dialogue and collaboration with Elliott Management Corporation (&#147;Elliott&#148;) and entry into an associated cooperation agreement between RPM and affiliates of Elliott. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RPM&#146;s newly formed OIC will be composed of four independent directors: Kirk Andrews and Robert Livingston, who will serve as <FONT
STYLE="white-space:nowrap">Co-Chairs,</FONT> Thomas Gross and John Ballbach. Frank Sullivan, Chairman and CEO of RPM, will serve as a <FONT STYLE="white-space:nowrap">non-voting</FONT> ex officio member. The OIC&#146;s review, among other things,
will focus on operational and financial initiatives to create and enhance shareholder value. Certain of these initiatives will center around setting and achieving new company margin targets based on
<FONT STYLE="white-space:nowrap">top-performing</FONT> industry standards and optimization of RPM&#146;s balance sheet, including streamlining working capital and implementing new capital allocation guidelines and capital return plans. The Company
has engaged AlixPartners, LLP, a leading outside management consulting firm, to work with the OIC and management on this review. RPM expects to provide a comprehensive update to the market as promptly as practicable, but in no event by later than
November&nbsp;30, 2018. Concurrent with the announcement, the Company will introduce transparent metrics to track achievements relative to plan on a regular basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;Over the past year, RPM&#146;s Board and management have begun working on initiatives to drive greater efficiency across our operations while
maintaining our growth momentum,&#148; said Mr.&nbsp;Sullivan. &#147;We have made some progress in reducing SG&amp;A and identified key opportunities to improve manufacturing efficiencies, lower operating costs, and improve working capital. The
initiatives announced today position us to progress significantly on these plans. Both Kirk and John add new perspectives and proven operational track records to our Board, and we look forward to benefitting from their expertise and experience as we
take action to drive operational efficiencies, long-term performance, and value creation.&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jeff Rosenbaum, Portfolio Manager at Elliott Management, said, &#147;We are pleased to have worked constructively
with RPM&#146;s Board and management team on the initiatives announced today. RPM has an outstanding collection of leading brands, and we believe the company has significant potential for further operating, financial, and balance sheet improvements.
Kirk Andrews brings strong portfolio and operational review and execution experience with his leadership in NRG&#146;s recent $855&nbsp;million cost and margin enhancement program. And John Ballbach brings strong industry <FONT
STYLE="white-space:nowrap">know-how</FONT> and leadership skills from his work as a Valspar senior executive. They will both add immediate value to RPM&#146;s Board and newly formed Operating Improvement Committee. We are confident that this
&#145;no stone unturned&#146; review will lead to several hundred basis points of margin improvement, capital returned to shareholders, and superior overall results for the Company.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The appointments of Messrs. Andrews and Ballbach are effective immediately and expand the size of RPM&#146;s Board from 12 to 14 members, 13 of whom are
independent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the cooperation agreement between RPM and Elliott, Elliott has agreed to customary standstill, voting and other
provisions. The full cooperation agreement will be filed on a Form <FONT STYLE="white-space:nowrap">8-K</FONT> with the Securities and Exchange Commission. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>About Kirkland (&#147;Kirk&#148;) B. Andrews </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As Chief
Financial Officer of NRG Energy, Inc. (&#147;NRG&#148;), a Fortune 500 integrated power company, Mr.&nbsp;Andrews leads all of NRG&#146;s corporate financial functions, including treasury, financial planning, accounting, risk management, tax,
insurance, supply chain and investor relations. He also plays an instrumental role in formulating and executing NRG&#146;s capital allocation strategies and in financing the company&#146;s repowering initiatives. Mr.&nbsp;Andrews has also helped
lead NRG&#146;s transformation plan, announced in 2017 &#150; targeting significant cost and operational enhancements across the company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Andrews joined NRG in 2011 after a successful <FONT STYLE="white-space:nowrap">15-year</FONT> career in investment banking. Mr.&nbsp;Andrews served
as Managing Director and Head of Power Mergers and Acquisitions and subsequently headed the North American Power Investment Banking group at Citigroup Global Markets. Later, he served as Managing Director and
<FONT STYLE="white-space:nowrap">co-head</FONT> of Power and Utilities&#150;Americas at Deutsche Bank. In his banking career, Mr.&nbsp;Andrews led numerous large and innovative strategic, debt, equity and commodities transactions, including multiple
advisory roles for NRG. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>About John M. Ballbach </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A
seasoned chemicals and coatings industry executive, Mr.&nbsp;Ballbach served as an Operating Advisor with Clayton, Dubilier&nbsp;&amp; Rice (&#147;Clayton&#148;), a private equity investment firm, from 2014 to 2017. In connection with his role as an
Operating Advisor at Clayton, Mr.&nbsp;Ballbach also served as Chairman and director for Solenis, LLC, a specialty chemicals manufacturer and portfolio company of Clayton. Mr.&nbsp;Ballbach served as an independent director at Valspar from 2012
until the company&#146;s sale to Sherwin-Williams in 2017. In addition, he is a former corporate officer of Valspar, having served as President and Chief Operating Officer from 2002 to 2004 and in various senior management positions since 1990. </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">From 2007 to 2012, Mr.&nbsp;Ballbach served as Chairman of VWR International, LLC, a leading global laboratory
supply and distribution company, and he was President and Chief Executive Officer from 2005 to 2012. Mr.&nbsp;Ballbach served as a director and member of the audit committee of The Timken Company, a publicly traded global manufacturer of bearings
and related components, until <FONT STYLE="white-space:nowrap">mid-2014.</FONT> He also previously served as a Director of Celanese Corp, a global technology leader in the production of specialty materials and chemical products. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About RPM </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">RPM International Inc. owns subsidiaries that
are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM&#146;s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction
chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Euclid Chemical and RPM Belgium Vandex. RPM&#146;s consumer products are used by professionals and <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">do-it-yourselfers</FONT></FONT> for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors. RPM&#146;s specialty products include industrial cleaners,
colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include
<FONT STYLE="white-space:nowrap">Day-Glo,</FONT> Dryvit, RPM Wood Finishes, Mantrose-Haeuser, Legend Brands, <FONT STYLE="white-space:nowrap">Kop-Coat</FONT> and TCI. Additional details can be found at www.RPMinc.com and by following RPM on Twitter
at www.twitter.com/RPMintl. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information, contact Barry M. Slifstein, vice president &#150; investor relations, at
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">330-273-5090</FONT></FONT> or bslifstein@rpminc.com. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"># # # </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains
&#147;forward-looking statements&#148; relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us, and are subject to uncertainties
and factors (including those specified below) which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking
statements. These uncertainties and factors include (a)&nbsp;global markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the effect of changes in interest
rates, and the viability of banks and other financial institutions; (b)&nbsp;the prices, supply and capacity of raw materials, including assorted pigments, resins, solvents and other natural <FONT STYLE="white-space:nowrap">gas-</FONT> and <FONT
STYLE="white-space:nowrap">oil-based</FONT> materials; packaging, including plastic containers; and transportation services, including fuel surcharges; (c)&nbsp;continued growth in demand for our products; (d)&nbsp;legal, environmental and
litigation risks inherent in our construction and chemicals businesses and risks related to the adequacy of our insurance coverage for such matters; (e)&nbsp;the effect of changes in interest rates; (f)&nbsp;the effect of fluctuations in currency
exchange rates upon our foreign operations; (g)&nbsp;the effect of <FONT STYLE="white-space:nowrap">non-currency</FONT> risks of investing in and conducting operations in foreign countries, including those relating to domestic and international
political, social, economic and regulatory factors; (h)&nbsp;risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i)&nbsp;risks related to the adequacy of our contingent liability reserves; and (j)&nbsp;other
risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended May&nbsp;31, 2017, as the same may be
updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
