<SEC-DOCUMENT>0000950103-18-005673.txt : 20180501
<SEC-HEADER>0000950103-18-005673.hdr.sgml : 20180501
<ACCEPTANCE-DATETIME>20180501164758
ACCESSION NUMBER:		0000950103-18-005673
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180501
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20180501
DATE AS OF CHANGE:		20180501

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MURPHY OIL CORP /DE
		CENTRAL INDEX KEY:			0000717423
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				710361522
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08590
		FILM NUMBER:		18796178

	BUSINESS ADDRESS:	
		STREET 1:		300 PEACH STREET
		STREET 2:		PO BOX 7000
		CITY:			EL DORADO
		STATE:			AR
		ZIP:			71731-7000
		BUSINESS PHONE:		8708626411

	MAIL ADDRESS:	
		STREET 1:		300 PEACH STREET
		STREET 2:		PO BOX 7000
		CITY:			EL DORADO
		STATE:			AR
		ZIP:			71731-7000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW MURPHY OIL CORP /DE
		DATE OF NAME CHANGE:	19831115
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>dp90520_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>UNITED
STATES</B></FONT><BR>
<FONT STYLE="font-size: 18pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT><BR>
<B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): May 1, 2018</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MURPHY OIL CORPORATION</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 33%; border-bottom: black 1pt solid; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="width: 34%; border-bottom: black 1pt solid; text-align: center"><B>1-8590</B></TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; text-align: center"><B>71-0361522</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>(State or other jurisdiction of incorporation)</B></TD>
    <TD STYLE="text-align: center"><B>(Commission File Number)</B></TD>
    <TD STYLE="text-align: center"><B>(I.R.S. Employer Identification No.)</B></TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: center"><B>300 Peach Street</B><BR>
<B>P.O. Box 7000, El Dorado, AR</B></TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; text-align: center"><B>71730-7000</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>(Address of principal executive offices)</B></TD>
    <TD STYLE="text-align: center"><B>(Zip Code)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><B>870-862-6411</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><B>(Registrant&rsquo;s telephone number, including area code)</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><B>Not applicable</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><B>(Former name or former address, if
changed since last report)</B>&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">Check the appropriate box below if the
Form 8-K 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: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0; color: #211D1E"><FONT STYLE="font-size: 10pt">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 16.75pt 0pt 0; color: #211D1E"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0.5in 0pt 3.5in; text-align: right"><FONT STYLE="font-size: 10pt; color: #211D1E">Emerging
growth company&#9;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; color: #211D1E">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 13(a) of the Exchange Act.&#9;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>ITEM 8.01. Other Events</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SUPPLEMENT
TO PROXY STATEMENT FOR THE </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>2018 ANNUAL
MEETING OF SHAREHOLDERS </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>TO BE
HELD ON WEDNESDAY, MAY 9, 2018</B>&nbsp;</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Murphy Oil Corporation (the &ldquo;Company&rdquo;)
is providing the additional information below in connection with Proposal 2 &ndash; Advisory Vote to Approve Executive Compensation
to be voted upon at the Company&rsquo;s 2018 Annual Meeting of Stockholders.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>Annual Incentive Plan Goal
Setting</I></B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Each year, management
develops a rigorous business plan that reflects the Company&rsquo;s strategy for achieving competitive operating and
financial results which will generate satisfactory returns for our shareholders. The business plan considers competitive
conditions in the oil and gas sector, including the forecast for improvements or reductions in oil and gas pricing. The
business plan is the source of the performance goals approved by the Executive Compensation Committee (the
&ldquo;Committee&rdquo;) for purposes of our annual incentive plan. These performance goals are rigorously analyzed and
subject to considerable review by the Committee. As discussed in our proxy statement, the Committee modified the 2018 annual
incentive plan performance metrics to increase the profile for the role of capital efficiency and financial discipline by
adding and giving significant emphasis to EBITDA/Average Capital Employed. The Committee is committed to this same rigorous
process for establishing the 2019 performance goals for the annual incentive plan.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">As discussed in our proxy statement,
for 2017, the performance criteria utilized by the Committee for the determination of annual incentive plan awards included a
mixture of a safety performance metric (Total Recordable Incident Rate, or TRIR), an environmental performance metric (Spill Rate),
financial metrics (EBITDA/BOE, or barrel of oil equivalent, and Lease Operating Expense/BOE) and operating metrics (Reserves Replacement
and Production Target, or BOE per day) designed to work across the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In selecting objective performance
metrics and establishing challenging target, threshold and maximum levels of required performance, the Committee considered the
upcoming year&rsquo;s budget and outlook in light of the unique dynamics of the oil exploration and production sector at that
point in time. Rather than only examining last year&rsquo;s targets and actual results which may not represent the changes affecting
our industry, the Committee&rsquo;s goalsetting reflect the particular market trends that are likely to impact our business based
on current activity.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">For 2017, we were responding
to a change in operational forces from the previous year, as a recovery in oil prices from their depressed 2016 levels led to
expected lower production rates and returns owing to drilling cutbacks and asset divestitures. In the face of lower prices in
2016, the Company acted as important stewards of our capital, by deciding to decrease drilling activity rather than issue
equity or take on debt to finance production growth. Production levels in 2017 were also impacted by the sale of the
Company&rsquo;s interest in Syncrude Canada Ltd. in June 2016 and the Seal area oil field in January 2017. The production
target established by the Committee reflected the expected lower 2017 production levels, but remained above the production
levels contained in the Company&rsquo;s approved operating budget. The industry-wide effort to ramp up drilling resulted in
the need for the Company&rsquo;s contractors to add a large number of personnel through new hires who would be less
experienced, which made it important for us to focus on safety challenges, as TRIR and Spill Rates were expected to
increase.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">As such, 2017 goals are not
necessarily comparable to the goals or performance the Company established in 2016. For
2017, BOE per day was expected to be lower than the prior year due to reductions in drilling during 2016. EBITDA/BOE and
Lease Operating Expense/BOE were expected to be impacted by increased expenses resulting from the renewed drilling activity
and service sector prices. TRIR and Spill Rate were expected to increase due to more drilling activities and additional
 personnel through new hires who are less experienced  in the industry.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>Performance Share Unit
Awards (&ldquo;PSUs&rdquo;) &ndash; Measurement Period</I></B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">As explained in our proxy statement,
PSUs awarded in 2017 will be eligible to vest in three years based on how the Company&rsquo;s total shareholder return (&ldquo;TSR&rdquo;)
compares to the TSR of an index of the comparator group of energy companies. The 2017 PSU awards contain four equally weighted
measurement periods: year 1; year 2; year 3; and years 1-3 combined. Achievement of the 50th percentile TSR of the TSR peer group
is required for vesting and payment of 100% of the target PSUs awarded; achievement of the 90th percentile TSR of the TSR peer
group is required for vesting and payment of 150% of the target PSUs awarded; and achievement of the 25th percentile TSR of the
TSR peer group is required for the vesting and payment of 50% of the target PSUs awarded. A prorated percentage of PSUs can vest
and be paid for performance between the 25th and 90th TSR percentiles. No payment is made for achievement below the 25th percentile
TSR of the TSR peer group.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Committee recognizes that
shareholders may be more focused on demonstrated longer-term performance cycles. The Committee&rsquo;s intent, beginning with
the 2019 awards, pursuant to the Company&rsquo;s Long-Term Incentive Plan, is that TSR metrics be based on a multi-year measurement
period, rather than a one-year measurement period.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>PSUs &ndash; Vesting Cap
for Negative Absolute TSR</I></B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">In addition to adjusting
the PSU performance measurement period as discussed above, to further align the payouts our executives receive with our
shareholders&rsquo; returns, the Committee&rsquo;s intent, beginning with the 2019 awards, pursuant to the Company&rsquo;s
Long-Term Incentive Plan, is that relative TSR PSU award terms will not allow for vesting above the target level of
performance, regardless of above-target relative TSR performance, if the Company has not achieved positive absolute TSR over
the same performance measurement period.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">The Committee is committed to
reviewing the Company&rsquo;s executive compensation structure and making modifications when it believes that it is in the best
interest of the Company and its shareholders.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Signature</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">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.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Date: May 1, 2018</FONT></P>
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">MURPHY OIL CORPORATION</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 40%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 25%; border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Walter K.
Compton</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Walter K.
Compton</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Executive Vice President &amp; General Counsel</FONT></TD>
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