<SEC-DOCUMENT>0001104659-14-042913.txt : 20140902
<SEC-HEADER>0001104659-14-042913.hdr.sgml : 20140901
<ACCEPTANCE-DATETIME>20140530162656
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-14-042913
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20140530

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			K12 INC
		CENTRAL INDEX KEY:			0001157408
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				954774688
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2300 CORPORATE PARK DRIVE
		STREET 2:		SUITE 200
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
		BUSINESS PHONE:		7034837000

	MAIL ADDRESS:	
		STREET 1:		2300 CORPORATE PARK DRIVE
		STREET 2:		SUITE 200
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>


<html>
<head>


  </head>
<body lang="EN-US">
<div style="font-family:Times New Roman;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="57%" valign="bottom" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William&nbsp;P.&nbsp;O&#146;Neill</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">555 Eleventh Street, N.W., Suite&nbsp;1000</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(202) 637-2275</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20004-1304</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">william.o&#146;neill@lw.com</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tel: +1.202.637.2200 Fax: +1.202.637.2201</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.lw.com</font></p>    </td>   </tr>
<tr>
<td width="57%" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="8%" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="57%" rowspan="17" valign="top" style="padding:0in 0in 0in 0in;width:57.78%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman"><img width="234" height="22" src="g144411bai001.gif" alt="GRAPHIC"></font></p>    </td>
<td width="8%" rowspan="17" valign="bottom" style="padding:0in 0in 0in 0in;width:8.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="33%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:33.5%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FIRM / AFFILIATE OFFICES</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Abu Dhabi</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moscow</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Barcelona</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Munich</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Beijing</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New Jersey</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Boston</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New York</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Brussels</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Orange County</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chicago</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Paris</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Doha</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Riyadh</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dubai</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Rome</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Frankfurt</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">San Diego</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hamburg</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">San Francisco</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hong Kong</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Shanghai</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Houston</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Silicon Valley</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">London</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Singapore</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Los Angeles</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tokyo</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Madrid</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C.</font></p>    </td>   </tr>
<tr>
<td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.92%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Milan</font></p>    </td>
<td width="19%" valign="top" style="padding:0in 0in 0in 0in;width:19.58%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 30, 2014</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIA EDGAR</font></u></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Larry Spirgel</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Assistant Director</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Division of Corporation Finance</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities and Exchange Commission</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, N. E.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C. 20549</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Re:</font></b><b><font size="1" style="font-size:3.0pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">K12,&nbsp;Inc.</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;10-K for the Year Ended June&nbsp;30, 2013</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed August&nbsp;29, 2013</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Form&nbsp;10-Q for the Quarter Ended December&nbsp;31, 2013</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Filed February&nbsp;4, 2014</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">File No.&nbsp;001-33883</font></b></p>
<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Spirgel:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Our client, K12,&nbsp;Inc. (the &#147;Company&#148;), acknowledges receipt of the Staff&#146;s letter, dated May 22, 2014, with respect to the above-referenced Annual Report on Form&nbsp;10-K and Quarterly Report on Form&nbsp;10-Q.&#160; Per my discussion with Kathleen Krebs, Securities and Exchange Commission Special Counsel on May 30, 2014, the Company will respond to the Staff&#146;s letter in a response letter to be submitted on or before June 18, 2014.</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you have any questions, please contact me at (202) 637-2275.</font></p>
<p style="margin:0in 0in .0001pt 3.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very   truly yours,</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/   William P. O&#146;Neill</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">William   P. O&#146;Neill</font></p>    </td>   </tr>
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of   LATHAM&nbsp;&amp; WATKINS LLP</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">cc:</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Kathleen Krebs, Securities and Exchange Commission Special Counsel</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nathaniel A. Davis, Chairman and Chief Executive Officer</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Howard D. Polsky, General Counsel and Secretary</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Julia A. Thompson, Latham&nbsp;&amp; Watkins LLP</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\C901775\14-14441-1\task6809920\14441-1-ba.htm',USER='C901775',CD='May 31 00:54 2014' -->

</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g144411bai001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g144411bai001.gif
M1TE&.#EAZ@`6`'<`,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E`"'Y
M!`$`````+````0#A`!$`AP````````@("!45%08&!@X.#AD9&0D)"186%A@8
M&`P,#`T-#0$!`1X>'@("`AL;&Q(2$A`0$`\/#P<'!Q$1$1T='00$!!04%!H:
M&@H*"@4%!1,3$P,#`Q<7%PL+"QP<'!\?'SHZ.C\_/S8V-C4U-2HJ*C(R,B,C
M(R<G)RDI*30T-"$A(2PL+#@X."`@("@H*#P\/#T]/3X^/B(B(B0D)#L[.S<W
M-RTM+2XN+B8F)C`P,"LK*SDY.3$Q,24E)2\O+S,S,T5%15-34T-#0UY>7D)"
M0D!`0$I*2D='1T%!05965E!04$1$1$A(2$Q,3$M+2UU=75145%5554U-35A8
M6%M;6T9&1DY.3EQ<7%E965=75U]?7U)24D]/3U%145I:6DE)27-S<VIJ:GM[
M>V)B8G)R<FYN;GY^?GEY>7IZ>F9F9F-C8VUM;6QL;'U]?6]O;V1D9&%A87!P
M<&MK:VEI:6!@8']_?W5U=7%Q<79V=F=G9WAX>'1T='Q\?&AH:&5E98"`@)65
ME82$A(R,C)V=G9>7EYJ:FIB8F(.#@Y24E(V-C9F9F8B(B)*2DIN;FXF)B9^?
MGX6%A8:&AI&1D9.3DYR<G(J*BHN+BX&!@8>'AYZ>GHZ.CH*"@I"0D):6EJZN
MKK^_O[>WM[N[N[BXN+R\O*&AH:NKJZ*BHK*RLJ.CH[&QL::FIK.SL["PL*2D
MI*^OKZ6EI;V]O;2TM*VMK;:VMJRLK*>GIZBHJ*"@H*JJJKZ^OJFIJ;6UM;FY
MN;JZNM'1T<C(R,#`P-G9V=[>WLO+R]/3T\W-S=?7U\[.SL?'Q]S<W,3$Q-W=
MW=_?W]K:VL/#P]34U-;6UL'!P=+2TL7%Q=75U<;&QLS,S-O;V]C8V,_/S\G)
MR=#0T,K*RO/S\^KJZOO[^^+BXOKZ^NWM[?;V]N7EY?W]_>?GY_[^_N'AX>#@
MX.CHZ/?W]_GY^?+R\N3DY/'Q\?S\_./CX^OKZ_7U]?#P\.;FYO3T]._O[_CX
M^.[N[NSL[.GIZ?___P$"`P$"`PC_``$('$BPH,&#"!,J7,BPH<.'$"-*G$CQ
M81`AHOIIW,AQH[@R0XB,Z]B/4(@B1H(<03*D2))!Y#264[)D5,=P9D20(JEQ
MF!(1@L#QU$A,"9,S0CF2.B*BD+FA),49"H'F',=#39P4XUCL"11C'=$-"K+D
M6,=T48P487+DR)`D29X@VZA.RI1D&]>E&:%&&4=$(A+%W'AN31(J-CDJ$K&(
MW<U$)`($(,!F,%2>`0J4NKQQF8$`!TR19(3`@($#H$LG:#.8F8("A#H>&Q'@
MU%!"DDO,O;T@@(%T'-NQD5S%'6>.B1@T"+8179(`#AIQ=!1@Q+N.S4Q(?M31
MV8D$#R`X_V`0X0'X9QNA29B`2B,Z-P$6+.KX)`!KCNI.2`X"CV.5`&]8U@\S
MSU&`0@H5$.'8<1P!D%DJ#(9A@61*Q".;*:J@8D4`5JS"2BN_)*7,!05`TE$T
MD;G"TSA'2$9`)%"A,>$$AG#T2PF2)>$,3_+,0Y(T&`0PGT;(Z!?`%?1H5`\<
M`51!4B&]!:""/1S=(\HKH40B009HA(+E2!I-4P`![?4#B04:P-B1$`&PX0U'
MS:0@F0"2<!1'`'+<LQ$Y=ZY`B#+I!$--4@QN%(`$$'(&3V0B.(`!,U"U$<`<
M"W*DS`"P=00-;:OP9(P"&]`VA9X\81&`!@%$P1$L`4S``0K4=/\$SBMTA%%-
M1_*T:(8X&D$)`0<8J*-1.BQH,$A'[6010`L2<!#+4-9T$`$K/!43`7O]+.,"
M`W`DN6:;;V[4S`L:>!!`"6!I5`>>X?8C3P(,V`$5/NDLF`\S^6@$CC+/7.,@
MHL>]0L$'LF!@@71#D1$`&?J0-&($L'0T3`@!1"PK(T>6PL`#B<D*`P,Q!``"
M</UXHP8!,52@@"P=(2/")&=HD>]&X-P1`!/#:+1%`&M@X,`L&B6C00.@=$0,
M"A.8(D,`>+3#$R@D`DW2-!$<\$PY(@30!,D=<1&`&>WVT\P,#VC1&QRDKIOG
M1LH4P$$94*'"QH[]J%,%I/V\$X<4;%#_<6BBEZW!P!;P+!%`$KSRM,;"#7>$
M#8F4G%/.Y.M0HT+%),VC@@:-C!L`&CR=0X,`B4`P024:%=/`"XHL'1M'TJCP
M3C4UX-,1)!H,L-,^)#A`RQ!?H]//(@'8T/A&EF@`PSQC<+#"=21!O4`M/$TC
MP0*TR!'`#=<,Y?4;I&K4C`LKV'(G`K=H=*<<[8YC0P`87&(62;@\,8U&QZAP
M:S_0-,'*,?\"W%#L@8,`U,(<N($`,8:R.(8YS``6P($3VG*$*XA``@'H5$>>
MP8$/1(,=90A`$:S2$6,D8`._8$(`N*"16P1@"='H0@`PT9%&Y,`+7L@%,VPA
M/(TL@P8!.$0__T9A@!/((P\!T`$YV+&X+73$&VS*1#Q``8$`S**''`G&`*;'
MDU]`@``UT(`+BC84+WPM;,U8P05&H8LJ%N$Z"GM#N\Q1BP1(1@:`Z!Y';*&%
M_67#"//+1A0^H8TS_(TSFE#`!W*FC@1P8`P)X]GQ-H*-(&E``!/(Y`0FA#F.
MU"P`1Q#>)PA`@5R0Y!,1H`$_,+8">=!##P'8@SF^$``]5"H9(=`$'Q`@"FAP
MP3@:X8<,Y=`/25B`".[XQ`0\4`U^[.``E.B(+BI0@*+1@P<!^(+3.J+%`DBM
M(],8P*D"0`(P\<1K;H+3#`JPBGN((0`6N$0_WKDVCLRB"P603`\T0?\H6RAA
M?\(P0C3$=P0GO"&`G-'"##<2!G*&;2.+6\,D-:(,!&2@#+)`A49940@4!$!%
M'.$'#11`O7Z,`PEXLA!'-B$`'KC#&`00`"R840$)[*(?DNH"]/J!B"[P:A5*
M,,,;$J>1-&AM'CL[!#K480`&$.(8!*@`,#J"B28E+A$3N`#>LHBI;W)D&A3(
M0!IR,($U/'0C9@2;.@N@B7Y<(P<!2$$S^@"@L_+C$WKH0``VP#*-P*(*\L!?
M$OBA$6QX@1/)&,8AH7(,'$%A$(.XA+(@$`J>*,R!CKM`!&[*D7=0#*0;X84#
M/,`'2U@B$T8H7C8Z\@8&1*$=WHB,&E1!SNO_2$)*O]A(*W1`"XUL0FOKX$@J
M)N"#6XA@`M;HASA46(=4+,M;&OF&$P(`ADM8XA)B$$`0L:@1Z96T([\HP`*L
ML8I39<)[X%IK6\%Q"0X$(!)I8$`Z>4(.1WQ&#!O9Q0_BX(9>-",':AA#*J#Q
MA*(A%"J=0(UD%AP`#OA!<8PCR>,D\+J-5"-%GOP#@QE\`!-QQ&MX``<ZJHH"
M-OU!(YIP0`?(V`]RN$$&6"`#'-+0ADUP9!LI$(`4/J`"DF&"`"GP`@=.S!%6
M(&##"[;"-C?BW>JM1Q3B@&4$1$,2K[4!C2=@JT;L482X&L$!5X:*/@P'A8TP
MXQ)EX(,L[M&(,(1!_Q/C,,5J^Q$`"KP"*NTPW!$DP>='<*++.B!L1Q06!W-2
MDD05UD@U:`-:=U6``W&P!",D\0@T[*"6T"4';09A(6L<@`,"@``N-,**`7#@
MN_VXQR@VT8A@@&,=]]L(/F08@;=Y2Q<**)<$'-$1-%0'$9>01"0B$04&4(`;
M'6GRU*ZEB@%1K`2QZEIZQ97EMFID%1=H%0/4.I1HL"``D*09/=R1+W/<PQT+
M$IZ#!``%15PBLI+8B4:L,8,`5'8CYF!%9AJMO@#4P="%A8"6.7+ACW+D%`%X
M0#B"8\@2=(/:&0PF-I.8LWX`X]O1+)1&]K!@#?9C'R^0#`ARNY%A9*T33_]Q
M3S&R34..@&(#)*W>F)K=#U_8$0S"XH@9PRRN&2S`VJF^DV3DN)%VN,(2J-"%
M(528`[QH7",!8,`$%."!JA^@#1OI@P6`$%B.?*,$#%@"28C@;]MU1!D+R!1'
M4!0`P(&C"4TB22\ZP`%Y:B08=I2&1LR!",DX<5@JS(-*"^4*##Y@-_U`Q\X"
M``/NGD(`($AN1Z;+`F!V-P(9H+*FUD/S?B2'`W"H!T>F.P<!J>,#"T#=1KKQ
M;0!!EQU<R$`"*A"!`/C`JX4"P!*$P'LA*"$*3_"$1MJ!"2.48F8;R8<AFM`&
M'W'$$TV@A.4W8H\J4"$C'`E'&)#`G.AB00HLSHN`'8;0B,$$(PM2R'D_M#$%
M*O!B3XI@0B+"QR!GM&$(G'!^XGGAA24(GR.:4`.,8'8<T0I<H`0#M1'%L`5?
M('D=H0Y9P`53I1'X(`@7$7Z2T`2.4"G]L`YK(`6]P!$(-`5.0`B6T0Z64&\!
9<`*8D`V#]W05$8,R.(,T6(,V>(,X&!``.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
