<SEC-DOCUMENT>0001193125-16-659678.txt : 20160826
<SEC-HEADER>0001193125-16-659678.hdr.sgml : 20160826
<ACCEPTANCE-DATETIME>20160727141202
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-16-659678
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20160727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COGNEX CORP
		CENTRAL INDEX KEY:			0000851205
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				042713778
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ONE VISION DR
		CITY:			NATICK
		STATE:			MA
		ZIP:			01760
		BUSINESS PHONE:		5086503000

	MAIL ADDRESS:	
		STREET 1:		ONE VISION DRIVE
		CITY:			NATICK
		STATE:			MA
		ZIP:			01760
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g411117g08z53.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g411117image002.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">July 27, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Brian Cascio </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Accounting Branch Chief </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Re:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Cognex Corporation</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Form 10-K for Fiscal Year Ended December 31, 2015</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Filed February 10, 2016</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Form 10-Q for the Quarterly Period Ended April 3, 2016</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>Filed May 2, 2016</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>File No. 001-34218</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr. Cascio: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cognex Corporation (the &#147;Company&#148;) is submitting this letter in response to a telephone conversation with the staff of the Division
of Corporation Finance (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) and as a supplement to the response letters previously filed by the Company with respect to its annual report on Form 10-K for the
year ended December 31, 2015 (the &#147;Form 10-K&#148;) and the quarterly report on Form 10-Q for the quarterly period ended April 3, 2016.&nbsp;As discussed with the Staff, the Company is providing additional information to respond to comment
number 2 set forth in the Staff&#146;s letter to the undersigned dated June 17, 2016.&nbsp;For reference purposes, the text of such comment has been reproduced herein with the Company&#146;s supplemented response. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Form 10-K for Fiscal Year Ended December 31, 2015 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Item 7. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Gross Margin, page 18 </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Comment 2:
Please expand your response to prior comment 2 to (1) clarify the basis for your conclusion that a margin in the mid 70% range would be immaterial, and (2) address whether the preferred pricing arrangement with your material customer involves a
material </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:8pt; font-family:Times New Roman">Cognex
Corporation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One Vision Drive&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Natick, MA 01760-2059&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(508)
650-3000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;fax (508) 650-3333&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;www.cognex.com </P> <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g411117image003.jpg" ALT="LOGO">
 </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; font-size:10pt; font-family:Times New Roman">Brian Cascio </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July 27, 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </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">
<I>change in margin during periods beyond your second quarter. Also tell us the extent that your margins would have changed during the periods presented absent your agreement with the material
customer; your response should make clear the extent that you must make sales with margins that offset your preferred pricing to maintain historic margins.</I> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response to Comment 2: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company
currently expects its gross margin to remain in the mid-to-high 70% range for the remainder of 2016, inclusive of the impact of the preferred pricing arrangement with its material customer.&nbsp;A gross margin at the lower end of this range would
likely be associated with higher total revenue, which would result in a positive contribution to the Company&#146;s operating income; therefore, the Company does not believe that a gross margin in the mid 70% range would be material to its results
of operations.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company&#146;s gross margin would have been approximately 30 basis points higher absent its agreement with the material
customer in 2015 as compared to 2014 (please note that this impact is different from the 30 basis points attributed to increased sales of ID products in the Company&#146;s prior response).&nbsp;The preferred pricing arrangement and increased sales
of ID products contributed to a shift in revenue mix to relatively-lower margin products and services.&nbsp;As described in the Form 10-K, this shift in revenue mix, as well as the negative impact of changes in foreign currency exchange rates, was
partially offset by lower inventory charges in 2015 as compared to 2014, to result in a slight decline in the gross margin from 78% in 2014 to 77% in 2015.&nbsp;None of these items, either favorable or unfavorable to the gross margin, were
individually material (50 basis points or less).</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company does not expect the preferred pricing arrangement with its material customer
in and of itself to result in a material change in gross margin during future periods.&nbsp;This arrangement does not provide for incremental discounts based upon the volumes purchased or different pricing terms for periods beyond the second
quarter.&nbsp;As a result, the impact on the Company&#146;s gross margin percentage from this arrangement in any particular quarter is primarily the result of the mix of products and services provided to this customer during that quarter.&nbsp;In
addition, the Company&#146;s gross margins may be impacted by the level of this customer&#146;s purchases in a particular quarter as compared to the total revenue recognized by the Company.&nbsp;A lower gross margin in this circumstance would likely
be associated with higher total revenue, which would result in a positive contribution to the Company&#146;s operating income as noted above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has discussed the gross margin impact of arrangements with material customers in prior filings when these items have had a
material effect on the Company&#146;s results of operations.&nbsp;For example, please refer to the Company&#146;s Form 10-Q for the quarterly period ended July 5, 2015, which stated that the lower gross margin was due in part to &#147;volume pricing
discounts on certain large orders.&#148;&nbsp;The Company will continue to describe material changes in its gross margin in future filings. </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; font-size:10pt; font-family:Times New Roman">Brian Cascio </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">July 27, 2016 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 3 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you should have any further questions, please contact the undersigned at (508) 650-6363.
</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="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ Richard A. Morin</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Richard A. Morin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><I>Executive Vice President of</I></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><I>Finance and Administration</I></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><I>and Chief Financial Officer</I></TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g411117g08z53.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g411117g08z53.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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MO_-D_P#P '^K/_4;_P"4?_NH?\)K_P!0S_R<_P#N6C_B>?\ ZM=_YLG_ .
M_P!6?^HW_P H_P#W4/\ A-?^H9_Y.?\ W+1_Q//_ -6N_P#-D_\ P '^K/\
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M)Y_^K7?^;)_^  _U9_ZC?_*/_P!U#_A-?^H9_P"3G_W+1_Q//_U:[_S9/_P
M'^K/_4;_ .4?_NH?\)K_ -0S_P G/_N6C_B>?_JUW_FR?_@ /]6?^HW_ ,H_
M_=0_X37_ *AG_DY_]RT?\3S_ /5KO_-D_P#P '^K/_4;_P"4?_NH?\)K_P!0
MS_R<_P#N6C_B>?\ ZM=_YLG_ .  _P!6?^HW_P H_P#W4/\ A-?^H9_Y.?\
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M]RT?\3S_ /5KO_-D_P#P '^K/_4;_P"4?_NH?\)K_P!0S_R<_P#N6C_B>?\
MZM=_YLG_ .  _P!6?^HW_P H_P#W4/\ A-?^H9_Y.?\ W+1_Q//_ -6N_P#-
MD_\ P '^K/\ U&_^4?\ [J'_  FO_4,_\G/_ +EH_P")Y_\ JUW_ )LG_P"
M _U9_P"HW_RC_P#=0_X37_J&?^3G_P!RT?\ $\__ %:[_P V3_\   ?ZL_\
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M/_U:[_S9/_P '^K/_4;_ .4?_NH?\)K_ -0S_P G/_N6C_B>?_JUW_FR?_@
M/]6?^HW_ ,H__=0_X37_ *AG_DY_]RT?\3S_ /5KO_-D_P#P '^K/_4;_P"4
M?_NH?\)K_P!0S_R<_P#N6C_B>?\ ZM=_YLG_ .  _P!6?^HW_P H_P#W4/\
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MQ//_ -6N_P#-D_\ P '^K/\ U&_^4?\ [J'_  FO_4,_\G/_ +EH_P")Y_\
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M "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@
MH * "@ H * "@ H * "@ H * "@ H * "@ H * "@ H * "@#V72_P#D&:=_
MUX6G_I/'7^WWA/\ \FL\-/\ LE>'O_51@S\VQW^^XS_K_5_].2.%\8_\A.#_
M *\(O_2BZK^ /IJ_\G3R#_LE<#_ZM\\/JN'/]QJ_]?Y?^FZ1RE?R >^% !0
M4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 %
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M (D8_P"KH_\ FM__ (?#_67_ *@O_*W_ -R#_A"O^HE_Y)__ '51_P 2,?\
M5T?_ #6__P /A_K+_P!07_E;_P"Y!_PA7_42_P#)/_[JH_XD8_ZNC_YK?_X?
M#_67_J"_\K?_ '(/^$*_ZB7_ ))__=5'_$C'_5T?_-;_ /P^'^LO_4%_Y6_^
MY!_PA7_42_\ )/\ ^ZJ/^)&/^KH_^:W_ /A\/]9?^H+_ ,K?_<@_X0K_ *B7
M_DG_ /=5'_$C'_5T?_-;_P#P^'^LO_4%_P"5O_N0?\(5_P!1+_R3_P#NJC_B
M1C_JZ/\ YK?_ .'P_P!9?^H+_P K?_<@_P"$*_ZB7_DG_P#=5'_$C'_5T?\
MS6__ ,/A_K+_ -07_E;_ .Y!_P (5_U$O_)/_P"ZJ/\ B1C_ *NC_P":W_\
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M?#_67_J"_P#*W_W(/^$*_P"HE_Y)_P#W51_Q(Q_U='_S6_\ \/A_K+_U!?\
ME;_[D'_"%?\ 42_\D_\ [JH_XD8_ZNC_ .:W_P#A\/\ 67_J"_\ *W_W(/\
MA"O^HE_Y)_\ W51_Q(Q_U='_ ,UO_P##X?ZR_P#4%_Y6_P#N0?\ "%?]1+_R
M3_\ NJC_ (D8_P"KH_\ FM__ (?#_67_ *@O_*W_ -R#_A"O^HE_Y)__ '51
M_P 2,?\ 5T?_ #6__P /A_K+_P!07_E;_P"Y!_PA7_42_P#)/_[JH_XD8_ZN
MC_YK?_X?#_67_J"_\K?_ '(/^$*_ZB7_ ))__=5'_$C'_5T?_-;_ /P^'^LO
M_4%_Y6_^Y!_PA7_42_\ )/\ ^ZJ/^)&/^KH_^:W_ /A\/]9?^H+_ ,K?_<@_
MX0K_ *B7_DG_ /=5'_$C'_5T?_-;_P#P^'^LO_4%_P"5O_N0?\(5_P!1+_R3
M_P#NJC_B1C_JZ/\ YK?_ .'P_P!9?^H+_P K?_<@_P"$*_ZB7_DG_P#=5'_$
MC'_5T?\ S6__ ,/A_K+_ -07_E;_ .Y!_P (5_U$O_)/_P"ZJ/\ B1C_ *NC
M_P":W_\ A\/]9?\ J"_\K?\ W(/^$*_ZB7_DG_\ =5'_ !(Q_P!71_\ -;__
M  ^'^LO_ %!?^5O_ +D'_"%?]1+_ ,D__NJC_B1C_JZ/_FM__A\/]9?^H+_R
MM_\ <@_X0K_J)?\ DG_]U4?\2,?]71_\UO\ _#X?ZR_]07_E;_[D'_"%?]1+
M_P D_P#[JH_XD8_ZNC_YK?\ ^'P_UE_Z@O\ RM_]R#_A"O\ J)?^2?\ ]U4?
M\2,?]71_\UO_ /#X?ZR_]07_ )6_^Y!_PA7_ %$O_)/_ .ZJ/^)&/^KH_P#F
MM_\ X?#_ %E_Z@O_ "M_]R#_ (0K_J)?^2?_ -U4?\2,?]71_P#-;_\ P^'^
MLO\ U!?^5O\ [D'_  A7_42_\D__ +JH_P")&/\ JZ/_ )K?_P"'P_UE_P"H
M+_RM_P#<@_X0K_J)?^2?_P!U4?\ $C'_ %='_P UO_\ #X?ZR_\ 4%_Y6_\
MN0?\(5_U$O\ R3_^ZJ/^)&/^KH_^:W_^'P_UE_Z@O_*W_P!R#_A"O^HE_P"2
M?_W51_Q(Q_U='_S6_P#\/A_K+_U!?^5O_N0?\(5_U$O_ "3_ /NJC_B1C_JZ
M/_FM_P#X?#_67_J"_P#*W_W(/^$*_P"HE_Y)_P#W51_Q(Q_U='_S6_\ \/A_
MK+_U!?\ E;_[D'_"%?\ 42_\D_\ [JH_XD8_ZNC_ .:W_P#A\/\ 67_J"_\
M*W_W(/\ A"O^HE_Y)_\ W51_Q(Q_U='_ ,UO_P##X?ZR_P#4%_Y6_P#N0?\
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M_P#=5'_$C'_5T?\ S6__ ,/A_K+_ -07_E;_ .Y!_P (5_U$O_)/_P"ZJ/\
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MP_UE_P"H+_RM_P#<@_X0K_J)?^2?_P!U4?\ $C'_ %='_P UO_\ #X?ZR_\
M4%_Y6_\ N0?\(5_U$O\ R3_^ZJ/^)&/^KH_^:W_^'P_UE_Z@O_*W_P!R#_A"
MO^HE_P"2?_W51_Q(Q_U='_S6_P#\/A_K+_U!?^5O_N0?\(5_U$O_ "3_ /NJ
MC_B1C_JZ/_FM_P#X?#_67_J"_P#*W_W(/^$*_P"HE_Y)_P#W51_Q(Q_U='_S
M6_\ \/A_K+_U!?\ E;_[D'_"%?\ 42_\D_\ [JH_XD8_ZNC_ .:W_P#A\/\
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--)RM>RO:]KV5^R/_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g411117image002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g411117image002.jpg
M_]C_X  02D9)1@ !  $ 8 !@  #__@ ?3$5!1"!496-H;F]L;V=I97,@26YC
M+B!6,2XP,0#_VP"$  (" @(" @(" @(" @(" @(" @(" @(" @(" @(" @("
M @(" @,# @(# @(" P0# P,#! 0$ @,$! 0$! ,$! ,! @(" @(" @(" @,"
M @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# __$ :(   $% 0$! 0$!           ! @,$!08'" D*"P$  P$!
M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I
M*C0U-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'
MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7
MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1  (! @0$ P0'!00$  $"=P ! @,1
M! 4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)B<H
M*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#A(6&
MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76
MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_  !$( !\ NP,!$0 "$0$#$0'_V@ ,
M P$  A$#$0 _ /VG^,'QM^%OP$\)2>-OBQXOT[PAX?6<6=M/=K<W5[J=^T<D
ML>G:1I6GP3WNJWS112/Y-K!*52-I'VQHS* ?GW??\%C?V1+.YDM[>U^+6J11
ML0M[8>"]+CMI@. T::GXHM+@*?\ II!&?44 5D_X+*_LDLRJ=(^,<8)P7?P=
MX?*K[D1^-&; ]E)]J /J/X#?MV?LT_M&:XOA3X<^.I%\826\UU;^$O$VD:AX
M=UJ\@MHFGN3IHO8OLFJR0PI)))#97=Q*D<3R,@C1F !;_: _;=_9R_9IU*+P
M_P#$SQLR>+)K2*^3P?X<TR\\0^(8K.=6:WN+^WLD^SZ0DRKNB&H7-JTJD/&&
M0[J /D\_\%EOV2E) T;XRL%) 8>#O#H!QW&[QJ#CZ@&@!T?_  64_9)=U1M)
M^,<*D@&23P=X?*(#_$PB\9N^!_LJQ]!0!]F_ #]KKX"?M,QZA'\)?&T6K:QI
M%NEWJWAC5+"]T+Q+I]H\BQ"\?2M2AC:\L1-)'&UU9/=0(\L:/(KR*& //OCK
M_P %!?V7_P!GKQ#=^#O&OC:[U3QGIP7^T_"O@W1[KQ%J>E.\<<L=OJMS&8=-
MTV]:*5'^R7%_'.JLK-$JLI8 ^<?^'RW[)0_Y@OQEX_ZD[PYV_P"YVH MV/\
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M@'P;HA('8$C5QD_@* %3_@A_\/0R[_CUXS9 1N5/!VAHQ ZA6.JL%/N5/TH
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;"\L;JY>>UO8&6:$O-&&,%U<13&P;'Z/T ?_9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g411117image003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g411117image003.jpg
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M 0$! 0$! 0        $" P0%!@<("0H+$  " 0,# @0#!04$!    7T! @,
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M?_SL.S^R\'_T-J'W+_Y,/[;U#_H7[_\ [Z/_ ,8H_P"([^(__2.G%7_@V?\
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M_P#OH_\ QBC_ (COXC_](Z<5?^#9_P#SL#^R\'_T-J'W+_Y,/[;U#_H7[_\
M[Z/_ ,8H_P"([^(__2.G%7_@V?\ \[ _LO!_]#:A]R_^3#^V]0_Z%^__ .^C
M_P#&*/\ B._B/_TCIQ5_X-G_ /.P/[+P?_0VH?<O_DP_MO4/^A?O_P#OH_\
MQBC_ (COXC_](Z<5?^#9_P#SL#^R\'_T-J'W+_Y,/[;U#_H7[_\ [Z/_ ,8H
M_P"([^(__2.G%7_@V?\ \[ _LO!_]#:A]R_^3#^V]0_Z%^__ .^C_P#&*/\
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M_P#SL#^R\'_T-J'W+_Y,/[;U#_H7[_\ [Z/_ ,8H_P"([^(__2.G%7_@V?\
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M_P#OH_\ QBC_ (COXC_](Z<5?^#9_P#SL#^R\'_T-J'W+_Y,/[;U#_H7[_\
M[Z/_ ,8H_P"([^(__2.G%7_@V?\ \[ _LO!_]#:A]R_^3#^V]0_Z%^__ .^C
M_P#&*/\ B._B/_TCIQ5_X-G_ /.P/[+P?_0VH?<O_DP_MO4/^A?O_P#OH_\
MQBC_ (COXC_](Z<5?^#9_P#SL#^R\'_T-J'W+_Y,/[;U#_H7[_\ [Z/_ ,8H
M_P"([^(__2.G%7_@V?\ \[ _LO!_]#:A]R_^3#^V]0_Z%^__ .^C_P#&*/\
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M0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4 % !0 4
9% !0 4 % !0 4 % !0 4 % !0 4 % '_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
