-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VCpIsVbtHB/kQVq8LXVIqoYu+yTwMyqzEfIqrldNowpwPK+pvTwYdvQsZc3Wh2/5
 JPf2haB6vxoPnjuuoXNgrA==

<SEC-DOCUMENT>0000940942-08-000026.txt : 20090309
<SEC-HEADER>0000940942-08-000026.hdr.sgml : 20090309
<ACCEPTANCE-DATETIME>20081212170955
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000940942-08-000026
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20081212

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HUB GROUP INC
		CENTRAL INDEX KEY:			0000940942
		STANDARD INDUSTRIAL CLASSIFICATION:	ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731]
		IRS NUMBER:				364007085
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		377 E BUTTERFIELD RD
		STREET 2:		STE 700
		CITY:			LOMBARD
		STATE:			IL
		ZIP:			60148
		BUSINESS PHONE:		7089645800

	MAIL ADDRESS:	
		STREET 1:		377 EAST BUTTERFIELD RD
		STREET 2:		SUITE 700
		CITY:			LOMBARD
		STATE:			IL
		ZIP:			60148
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html>
  <head>
    <title>commentletter2008q4.htm</title>
<!-- Licensed to: Hub Group Inc-->
<!-- Document Created using EDGARizer 4.0.6.1 -->
<!-- Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved -->
</head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><img src="hublogo.jpg" alt="Hub Group Logo"></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 180pt"></font>December 12, 2008</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">VIA
EDGAR</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.&#160;&#160;Linda
Cvrkel</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Branch
Chief</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Division
of Corporate Finance</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
and Exchange Commission</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">100 F
Street, N.E.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington
D.C. 20549</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Re:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Hub
Group, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Form 10-K for the year ended December
31, 2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Filed February 22, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>File No. 000-27754</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><br></font>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dear Ms.
Cvrkel:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We are
writing in response to your letter dated December 1, 2008, setting forth the
comment of the staff of the Division of Corporation Finance (the &#8220;Staff&#8221;) on the
Hub Group, Inc. Form 10-K for the year ended December 31, 2007.&#160;&#160;We
have carefully considered the Staff&#8217;s comments and our responses are set forth
below.&#160;&#160;To facilitate the Staff&#8217;s review, we have keyed our response
to the heading and numbered comment used in the Staff&#8217;s comment letter, which we
have reproduced in bold text.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Management&#8217;s
      Discussion and Analysis of Financial Condition and Results of Operations,
      page 14</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Results
of Operations, page 15</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Year
Ended December 31, 2007, Compared to Year Ended December 31, 2006, page
15</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
future filings, where changes in revenue and expense amounts are related to
several factors, each significant factor should be separately quantified and
discussed.&#160;&#160;For example, each of the factors contributing to the
change in general and administrative expenses listed on page 17 should be
quantified and discussed, specifically, the changes in each of the rental,
telephone, bad debt and equipment lease expenses.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In future
filings, where changes in revenue and expense amounts are related to several
factors, each significant factor will be separately quantified and
discussed.&#160;&#160;For example, we intend to expand the explanation for
general and administrative expenses in our Form 10-K for the year ended December
31, 2008.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Critical
      Accounting Policies, page 21</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
note that your critical accounting policies disclosure is substantially similar
to your accounting policy footnote 1.&#160;&#160;In accordance with the guidance
in FR-72 (Release 33-8350), please revise your discussion in future filings to
identify the risks involved with critical accounting policies, analyzing to the
extent possible factors such as:</font></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 90pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">How
      the Company arrived at the
estimate;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 90pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">How
      accurate the estimate/assumption has been in the
  past;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 90pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Whether
      the estimate/assumption is reasonably likely to change in the future;
      and</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 90pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Evaluate
      the sensitivity to change of your critical accounting
      policies.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We will
revise our discussion in future filings to identify risks involved with the
critical accounting policies, analyzing to the extent possible factors such as
how we arrived at&#160;&#160;the estimate and how accurate the
estimate/assumption has been in the past.&#160;&#160;Additionally, we will
discuss whether the estimate/assumption is reasonably likely to change in the
future and we will evaluate the sensitivity to change of our critical accounting
policies.&#160;&#160;We intend to revise our Allowance for Uncollectible Trade
Accounts Receivable and Goodwill disclosure in future filings as
follows:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Allowance
for Uncollectible Trade Accounts Receivable</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In the
normal course of business, we extend credit to customers after a review of each
customer&#8217;s credit history.&#160;&#160;An allowance for uncollectible trade
accounts has been established through an analysis of the accounts receivable
aging, an assessment of collectibility based on historical trends and an
evaluation based on current economic conditions.&#160;&#160;To be more specific,
based on an annual hindsight analysis to determine our experience, we reserve a
portion of every receivable balance that has aged over one year and for
customers in bankruptcy.&#160;&#160;In addition, we reserve for a portion of
account balances specifically identified by management as uncollectible based on
consideration of the aging of the customer&#8217;s receivables, the customer&#8217;s current
and projected financial results, the customer&#8217;s ability to meet and sustain
their financial commitments, the positive or negative effects of the current and
projected industry outlook and the general economic conditions.&#160;&#160;The
Company&#8217;s level of reserves for trade accounts receivable fluctuates depending
upon the factors mentioned above.&#160;&#160;However, we do not expect the
allowance for trade uncollectible accounts receivable to change significantly
relative to our accounts receivable balance.&#160;&#160;Historically, our
reserve for uncollectible accounts has approximated actual accounts written
off.&#160;&#160;&#160;The allowance for uncollectible trade accounts receivable
is reported on the balance sheet in net accounts
receivable.&#160;&#160;Recoveries of receivables previously charged off are
recorded as reduction of bad debt expense when received.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Valuation
of Goodwill and Other Indefinite-Lived Intangibles</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We review
goodwill and other indefinite-lived intangibles for impairment on an annual
basis or whenever events or changes in circumstances indicate the carrying
amount of goodwill or other indefinite-lived intangibles may not be
recoverable.&#160;&#160;An indefinite lived intangible asset is impaired if its
fair value is less than its carrying value.&#160;&#160;Goodwill impairment is
indicated if the fair value of the reporting unit is less than its carrying
value. We utilize a third party independent valuation firm to assist in
performing the necessary valuations to be used in the impairment
testing.&#160;&#160;These valuations are based on a market comparable approach,
a discounted cash flow approach or a combination of both
approaches.&#160;&#160;The assumptions used in the valuations include
expectations regarding future operating performance (which are consistent with
our internal projections and operating plans), discount rates, control premiums
and other factors which are subjective in nature.&#160;&#160;At December 31,
2007, reasonable variations in these assumptions do not have a significant
impact on the results of the goodwill impairment test.&#160;&#160;Actual cash
flows from operations could differ from management&#8217;s estimates due to changes in
business conditions, operating performance and economic conditions.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notes to Consolidated
      Financial Statements</font></font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note
14.&#160;&#160;Acquisition, page 41</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
note from the disclosures included in Note 14 that the terms of the Asset
Purchase Agreement for Comtrak, included an earn&#8211;out mechanism for 2006 and
2007, which has been achieved for $10 million in total and is based on Comtrak&#8217;s
2006 and 2007 EBITDA as defined in the Asset Purchase Agreement.&#160;&#160;We
also note that the additional consideration of $5.0 million for both 2006 and
2007 has been added to the purchase price and applied to goodwill.&#160;&#160;We
further note that the $5.0 million for 2006 has been paid and the $5.0 million
for 2007 is due to the seller, the current President of Comtrak, and is included
in the related party payable on the Company&#8217;s December 31, 2007 balance
sheet.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
tell us and clarify in the notes to your financial statements in future filings
why you believe it is appropriate to account for the payments made or to be made
to the seller and current President of Comtrak pursuant to the earn-out
provisions of the purchase agreement as additional purchase price rather than as
compensation expense.&#160;&#160;In this regard, please explain how the various
factors outlined in EITF 95-8 were considered in determining that the earn out
payments should be accounted for as additional purchase price.&#160;&#160;We may
have further comment upon receipt of your response.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">First, we
want to clarify that there were two earn out payments for $5.0 million each,
totaling $10 million.&#160;&#160;The second $5.0 million payment was made in the
first quarter of 2008.&#160;&#160;This is the payment accrued at December 31,
2007.&#160;&#160;The purchase agreement does not provide for any additional earn
out payments.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">When we
reviewed EITF 95-8, we took into consideration the following factors which led
us to conclude the payments are additional purchase price:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1) In
EITF 95-8, under Factors involving terms of continuing employment, number 1, the
EITF states &#8220;A contingent consideration arrangement in which the payments are
automatically forfeited if employment terminates is a strong indicator that the
arrangement is compensation for post combination
services.&#160;&#160;Arrangements in which the contingent payments are not
affected by employment termination may indicate that the contingent payments are
additional purchase price rather than compensation.&#8221;&#160;&#160;&#160;In our
arrangement with Mike Bruns, the President of Comtrak, the contingent payments
for the earn-out are not affected by employment termination which indicates the
payments are additional purchase price;</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2) In EIF
95-8, under Factors involving terms of continuing employment, number 3, level of
compensation, the EITF states &#8220;Situations in which employee compensation other
than contingent payments is at a reasonable level in comparison to that of other
key employees in the combined enterprise may indicate that the contingent
payments are additional purchase price rather than compensation.&#8221;&#160;&#160;The
employment agreement with the President of Comtrak is for 3 years with an annual
salary of $400,000 per year and the agreement automatically
renews.&#160;&#160;The salary for the President of Comtrak is at a reasonable
level as compared to our other key employees.&#160;&#160;In addition to his
salary, the President of Comtrak was awarded restricted stock each year as a
part of our long term incentive plan similar to other key
employees.&#160;&#160;The President of Comtrak&#8217;s total compensation package
relative to other key employees indicates that the contingent payments are
additional purchase price; and</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;3)
In EITF 95-8, under Factors involving reasons for contingent payment provisions
it states &#8220;Understanding the reasons why the acquisition agreement includes a
provision for contingent payments may be helpful in assessing the substance of
the arrangement.&#8221;&#160;&#160;The contingent earn-out was determined at the time
of acquisition based on the valuation of Comtrak.&#160;&#160;In other words, the
purchase price was based on a multiple of earnings before depreciation, interest
and taxes and we wanted to make sure that the performance of the business was
consistent with forecasts.&#160;&#160;&#160;The multiple including the $10
million payment was approximately 4 (high end of our range) and the multiple
without the $10 million payment was 3 (low end of our range).&#160;&#160;The
substance of the arrangement would indicate the continent payments are
additional purchase price.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The other
criteria of EITF 95-8 not mentioned above were also reviewed and noted to not be
indicative that the additional payments were compensation.&#160;&#160;Also,
there were no other relevant criteria noted that would indicate the terms of the
earn-out would be considered compensation expense.&#160;&#160;We plan to mention
point number 1 and point number 3 above in our notes to the financial statements
in future filings.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 54pt">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4.&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Notes to Consolidated
      Financial Statements</font></font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Note
14.&#160;&#160;Acquisition, page 41</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 54pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
future filings, please revise to state the primary reasons for the acquisition
and include a description of the factors that contributed to a purchase price
that resulted in recognition of goodwill.&#160;&#160;Refer to the disclosure
requirements outlined in paragraph 51b of SFAS 141.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We intend
to add the following information to our future filings related to the Comtrak
acquisition.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We paid a
premium (i.e. goodwill) over the fair value of the net tangible and identified
intangible assets acquired for a number of strategic fit reasons including the
following:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 45pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Our
      Company will benefit from Comtrak&#8217;s diverse service
    offerings</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 45pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      will be able to perform more of our own drayage which our customers
      value</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 45pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      will be less vulnerable to the capacity volatility in the
      marketplace</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 45pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Comtrak
      has best in class operations and we will adopt their best practices at our
      existing drayage operations</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 180pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">*****</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Company acknowledges that:</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company is responsible for the adequacy and accuracy of the disclosure in
      the filing;</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Staff
      comments or changes to disclosure in response to Staff comments do not
      foreclose the Commission from taking any action with respect to the
      filings; and</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">
            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company may not assert Staff comments as a defense in any proceeding
      initiated by the Commission or any person under the federal securities
      laws of the United States.</font></div>
              </td>
            </tr>
        </table>
      </div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
contact the undersigned at (630) 271-3676 if you have any questions or require
additional information.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sincerely</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Terri A.
Pizzuto</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
Financial Officer</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CC:&#160;&#160;David
C. Zeilstra</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
Counsel</font></div><br><br><br></div>
  </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>hublogo.jpg
<DESCRIPTION>HUB GROUP LOGO
<TEXT>
begin 644 hublogo.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"``^`.(#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BO,?BW\
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M\_VF/VX-?O/A%^P-X)UGPMX5>\?2_%?QO\16$MF-,LP-MXT.L;WT_P`,)):W
M$%Y;-;?;?%4RF&*TM[&6[A=J$_\`P1H^)>D^$K;QKX8_:D\3C]I-=2?5]5\3
M7$=U:>'M3C#O*NG6^I6MROBV+49&ALGDU>^U:XAEN%='MH84CG7]??"GQ#_9
M<^%?@3PS8^#?''P7\#?#IQ>:7X531?$WA+1_#5PVCM&FHVFF2P7L5G=7-C)<
MQ&_"22W*27"R7)WS!F]I7Q-X=;P]_P`)<NNZ0WA8:6VN'Q&NH6IT3^QEMS=M
MJG]IB7[']@6U!N&N_.\D1`R%PH)K&EFF"JN<<)B\)/V=*%:I&EB*-::HSBIP
MK57&4G&E.$E.,FE3<9*2;33.S$Y!FV&C2J9AE>9T56Q%3"4)XC`XO#4YXJE-
MTJN%H<].*GB:56,J=2G%RK1J1<)QC*+1^'GPW_X*3?&K]ESQ/;_!3_@H9\/=
M7TV_MW6RT/XO:!IA:UU^PMI9K,:S>>3*VB>(;6Z%N+I]2T6[LKV(_:!<:,SO
M;J?VN\!?$'P7\4/"^F>-/`'B32O%?AC5XA+8ZOI%U'=6LGRJS1.4.^"XC#H9
M;>98YHPR%D"NI;Q'XB^)_P!D/XU^`=8MOB3XK^"'Q`^'FEWVG6>K76O>(?"6
MKZ%H>K:X+FVT82:G->26^C:KJ+07,6ER+<6UW<RQ.EJSNNVOR:U?]BGXX?`G
M5[_XZ_\`!,3X[0^,O`-[?S/J_P`)9_$>G>);"X%E=M>76D:/JLL\V@>+[2R+
M/:6UCKD]MXAL!,+=-6U&>26>.:&899C:D:>&QV#G6J4W6A3HXFC552DINFZL
M(TYRFJ:J1E!S2=-3C*+:E=*L7DF?Y91J5\=E&:T,+2Q$<)5KXO+\7AW1Q,Z4
M*\</5J5J-.FZ\J-2%:-*3C7E3G":BX24G_0)17Y2_LP_\%2?AW\2M>T?X,_M
M`:)J/P)_:(?6+?PM?^%_$.CZKH_A_5/$,Z[;:&QFU;?=Z#<W]UMLX-(UN:1C
M=S6T=IJ=^EU$R_JU73*,HNTDUV[-=T]FO--H\^,XS5XM.SL^Z?9IZI]TTFNH
M4445)04444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`?
MB'_P0STW2G_9\^(VOI:Z?<ZU/\3+O39=?73;:VU2XTZ+0]$FCL)+H1+=FRAG
MRZ6K2F`3`SK&'8L?H?\`X*V?\F@ZI_V4'P/_`.E-]7A'_!#63S?V:?B%)]I^
MU[OBS??Z1Y/D>9CP[H:_ZK`V;,;.GS;=W>OL+_@HI\)O%OQH_9MU+P7X*_L/
M^W'\7^%-40>(-?TKPUI[6MA=7`N`=4UFYM-/CFQ.K10RW"/-AEBW2;4;Y+Q*
MPN(QO!?%^$PE&KB<3B,CS"E0H482J5:U6>&DHTZ<(IRG.3TC&*;;T2N?I_@)
MF&!RKQ<\,,RS/%X?`9?@N,<AQ.,QN+JPH8;"X>ECZ4JE:O6J.,*5*G%.4YS:
MC%)MM)'\\GQ3_P"3+OV4/^QY_:#_`/3SX2K^@UX/,_X)L/#)#YBR?LI-YD3Q
M[U>%_A\7;>C`AHFA)9L@H8B6.5.:_*GX@?L2_'76/V7_`-GGP/91_#K^V?!O
MBOXR7VN/<?%+P1;:>(_$VI^'+C24TW5)=673-4D,-C=-?Q6EZT^GN+=)H3YY
M,7CK_L6?ME&S&EGXA^$Y-,BMKG38K'_AHOPV;`:=#"PCM8K1_$PA2QO5DDM[
M>U,*(I9Q>0VL+;V_EC(JW$_"&/S>?^I.?9M#.^!>&,CO0H5J$<+6APWEM#$2
MFY86M[25"LITJE)<CA.G.$Y1:=O]&^,<)X>>*.3\+T_^(N\%\-5.$?&+Q#XN
MY,9C,+C9YCA:W'N=XS!TZ4:>8X5X>&+PSI8BAB)>UC4HUZ52G":DN;QWX<'_
M`(PS_:;&4_Y*9^S\=I7+G#_$/E7V':BYPZ[UWEHSL?9E/WM_X)0?\F<>%?\`
ML<?'G_I]EK\TO!G[#GQUTG]F#XZ^"IG^&DNM^*_'?P9U;3?(^)_@R;3A9>'8
M_&+ZJ+G6DU!].L+R&;6+&"&QOKNT&H_Z7-9R7/V.%;C]=?\`@GM\*_%/P:_9
MH\/>!O&+Z')KEIXC\5:A.?#NO:;XDTP0ZIJ9NX(TU329[BREGB1_*N8XY6\J
M9&7<R[7;Z7P:X>SW+.*L@Q&8Y1F&"H4>`,SPE6KB<+5HTZ>*J<68[$0P\I3B
MDJLZ$XUHP;YG3DII<K3/@/I6<<<'<0^&W&^"R/B?),VQ>+\:^'LTPV&R_,<-
MBJ]?+J'AGDN!K8VG2I3E.6&I8RG4PLZMG"->$Z;?-%Q7P]_P5&T_2K+]I_\`
MX)Z:O!!I>G:QJ_Q<N+#4=2BTNV;5]9M-/\4_#(Z?I]U?H@NI;.S:^NQ;B=I8
MK*2]D:`P&:43?M]7XI?\%3)O*_:,_P""="_;$M?-^,NJ)Y9@\Z2ZSXH^%2^2
MAW?ND;=LDF\L[&>(^9'TD_:VOZSE_"H_]Q/_`$XS_-"/\:O_`-P?QHPN<O!X
MX\%W/B*3PA;>+_"]QXLA2627PQ!K^DR^(HHX`6GDDT6.[;4D2%06E9K8+&`2
MY4`TNN^-O!GA:\TS3_$WB[PQX=O];D,.C6.NZ_I6D7FKRK+#`8M,MM0N[>:_
MD$UQ;PE+1)6$L\,9&^5`W\^GB#X\^!_V</\`@IW\4_B9\08M=F\.VUMXBT62
M/P[I=GJVIF[UFUL[>V=8+W4--CA@BV237%Q%<FX$4;01PS>>R&C^T]^UU\*/
MVL_CY^R2?AM'XQTJ'PCX_MK'6I/%/A_2;"67_A*O$7@U;:#3Y++6=:DW$6%U
M8W1=(H$EFBN@TZ6\,A_"L1XT9=A\!G:FLMAQ#EO%,\AP>13QLE7QV#AFF$P#
MS"[IIP?LJV)Q#A;E7U9QYN5\Q_8F!^B;GV.SKA!T99_4X'S_`,.J'&>:\94\
MHA+!91FE;AW,LYCDEE7E&JOK6&P.!C5NJC6.C4]FI+D/Z0*R]:US1?#FFW.L
M^(=8TO0=(LPC7>JZUJ%II>FVJNZQHUS?7TT%K`'D=(T,LJAG94&68`_&7P&_
M:G\3_%K]IG]H[X':KH'AK3M#^#-X;;0M7TM]7.KZLL>LR:5,=56]=K'?'M4R
M?9(;54G)6#[9`?/7XB^.G[5/BCX\?!G_`(*#_#77?#^@Z3I_P+US3?#&AW^D
MQZA'>:O:)\1];T$W&K?;-3OX&N"OAF*0?8X;.(-)))LQ,L%I]EF?B)DF$RBI
MF.$G4Q-:JN**&74*E&M2AB<PX5P>88K'X>K/E;HTO^$ZO&%9IQFN5PYN:*?Y
M7P]X%\7YGQ30R',Z-'+\+AI>'>,S[&4,7A<35R_)/$C-,DR[)<=AZ/M8QQ>(
M?]NX2=3"1DIT9<\:W)R3:_:_2]5TO7-/L]7T74K#5]*U"!+FPU/2[RWU#3[Z
MVD^Y<6=[:236US`^#LEAE>-L<,:OU^`WPD_;0_:C^$O[,7PX\:>'OV=M"US]
MGWP'I-EX0U/QGJ.HS6VOZI-8ZE+87.MV>FZ9JP.CZ*+AUL%FDT&^L(;X,IOU
MMPN/V[^%GQ$T/XM?#KP;\2?#;$Z-XS\/:9KUI$S[Y;07]K'-+8W!V1G[38S-
M):SAHHF\R)B8TSM'3PEQUE'%D*5'#+%8;,O[*P&;5L'B\#C,&JF%QL$EB\!4
MQ=&BL?@%B%.A#%T.:G.48M/EG!R\[Q-\'>)_#2KB,5CY9=F&0?ZR9SPWA<UR
MS-\JS25',,JJ.?\`9V=4,MQ>)GDV<SP,J.,J99C%3KTHSG"45.E4C#<\3>,/
M"7@NP&J^,?%'AWPGI9<Q#4O$VMZ9H-@9`I<QB\U2ZM;<N$5G*"3=M!;&`37-
M>$/C'\(OB#>?V=X"^*GPW\;ZAY$ES]A\(>./#'B6\^S0L4EN/LNC:I>S^1$X
M*R2[/+1@59@1BOQ^7P;#^W+_`,%`/BIX5^*U_=ZC\)/V?=/%EI/@:UO=0L+6
M]O;>>&Q66Y6*9(Y&DUNXU*35+N-(IK^QAT^P$9M3-*NM\>O@C^Q7X+^(WAW4
M/@_^T-X!_91^-'PM\01RZBENKZO:Y01W\5GJ_AVXU&R#74;/`-TMY);W>GW$
MMKJ%M=Q^2(_F:OB!GE6&.SC`95D/^KF"SO$Y+0_M/B"EE><9Q/+\5]5S#$9:
ML93HY53]G.GB98:AB\=3J8B&'E*4J-XW_0<-X)<(8>MDW"V=<2<9?Z]YOPAE
M_%N+7#W!.)XBX8X5I9WE\<QR3!9]+*ZV*XCK^VHXC`0S#&99D]>C@JN-I0A#
M$N,[?ME17Y3?&#]O'XR^#/VE];_9Z^&?P@T/XIZA<>%M'N_!$>FR:K:ZMJ6N
MZYX=M=9MM4U:>;4X]&M?"%F9);G4)GGL98M/EM3_`&D%2>]$GQ+_`&V?CUX9
M\1_"G]GOP3\)O#WBO]J+Q;X(TG7O'ND7%](OACP5K.I64M]/I["UU&.W\FRT
M^-]8DO9O$$T,-K]EMI+>>XO8\>[6\2^%Z,\RA*IF4Y97F3R:O['*<?6C7SGZ
MS'"T\IP,Z=&4,=F%>;=2EAL-*I4>'C+$34*5I/X[#?1_\1<53R"K&AD%*'$>
M00XKP:Q7$V386IA.%7@)9C7XESBE7Q=.KD^28.C&-'$X_'PH48XVI#!4G5Q+
ME3C^JM%?F%\%OVXOB??_`!,\<_L__M#?"W2OAY\8_#'@S6O%7AXZ/>3W'A[Q
M0NA>'Y_$,@59;V\WQ7^F0/J5M<Z7J-S$8;:^MI8K2ZM9XK;O?V9?VN/&OQM_
M97^)?Q[\1^&_#&E>(/!4/Q#N+#1M"AUEM(ND\(>'6URP2ZBNM1OM2F>XDVP7
M8M;B)IE!-M'"[JJ]67>('#69U*%'#8C%+$5:.=5:F&Q&!Q.&Q.#GP^\,LUPN
M.HUZ<*F%Q>&^MT'["I%2G&:E!N-F_.SSP3X^X>P^+QF88++I8'#8KA/#T,PP
M.<9?F&`S2EQO''RX;S#*,7@ZU:CF.6X]99C8_7*$W3HSHRA549IQ7Z`45^+W
MB#_@IK\2M`_9K^#7QTE^'_@.74OB'\1_&7A#7M(\SQ$FFV&D^%Y(?+N],D34
MIKQ+Z>%I/--Q]MA#[6CMB`8VI_$W]L?]I;2I](\-_'SX;V_P)^#_`.T+'<^'
M?!?Q`\,7LE[XZ^'EEJXBBLM3U28:Q)8/JUEI]_:W^LV4UIILWD?:GLDM?*>&
M/RX^+'!LITTL3F/LI4,GQ6(Q:RG'RP>7X//J5*KEN+S'%1HNC@Z%;V]*FY5I
M1<:LG%QM"I*'T<OHT^*L*=>3R_(UB88SBG+<%ELN)<FAFF=9GP;B:^&S[+<B
MRZIBHXK-<9A/JN(Q"IX6G.-3#4O:*:E5H0J_M;5+4M2T[1K"\U75]0LM*TO3
MK>6\U#4M2NH+&PL;2!#)/=7EY=216]M;PH"\L\\B11H"SL`":\^^#7@C6/AQ
M\,O"/@O7_'^M_%#5M"TP6UUXY\0):Q:GKH>:6:VD>*RS`EM:6LL%A9?O)YGL
M[6&6ZNKJZ>:XDY']JC_DVSXZ_P#9*_&W_IAO:^\S+%/`Y=C\=",:KP>"Q6*A
M!MQC4>'H5*T8MI749N"3=KI/:Y^,9#EL<XSW)<GJU)X>&:9MEN6U*L8J52A'
M'8RCA9SC%M1E.DJKDHMJ,G&S=G<]>\->*O"_C/28=>\'^)-!\5Z'<23PV^M>
M&M8T_7=)GFMI&AN8H=1TNXNK.62WF5HIT29FBD5HY`K`@;U?SW_!']K;QE^R
MS^Q?^SQ<^#/#.@>/K_XB?%GXJ:'J%AJJZS%?2+8^(K:2-=(DLGM#=:AJ#ZD@
M2XU)G=7N;6`6DHBF$'U%/^W'^TO\*?CA\-?!7[2'P2\'>#/`GQCUA-/\(WN@
M:]]OU?2X9+_3]+<W>IKK-]IE_<Z5)JVEW.K6IL+(W/VV)-.F19E6#\VROQ:X
M>Q&`RZKF4,=A<76P?#U?-7A<MQ^+RO*:W$>%P^(P$<5F5*C/#T:-:>)IT:<J
MLU-U)*+A=3Y?WOB+Z,O'&"SG/<-D%3*,QRW"9KQQ@^'89AGV399Q%Q-A>!,Q
MQF"SJIEN08C%4\=BL3A:6"K8JO3H4G2C1@ZBJ6G24_UNHK\K?B-^V=^T-XU^
M.?Q`^"/[(GPK\*^.IOA4)(/&WB/Q;>26D*:G:S&RNK*P\W6]$L8D75$N=-@>
M5[MKR2TEN(V@MP[Q?2/['7[36L_M(>$/%4GC+P3/X`^(GP]\1+X;\9Z`L&HK
MI0N;BW:XM+K2I]21;@JS0WMI>6<DEP]G=6;.EU=V5U97=Q]+EO'7#^:YQ+),
M'5QLL1*MF&&PN+J9?BZ669AB<JDXYEALOS&=)87%UL$U)UHTYM6A-PE-1;7P
M.?>#?&_#?"T>+<TH93#!0PN2X_,<MH9YEF)XAR/+^)(0GD&.SS(J6(EF&68;
M-U4IK"3Q%%2<JE.-:%*4XI_8-%%%?8GY8?BG_P`$-9/-_9I^(4GVG[7N^+-]
M_I'D^1YF/#NAK_JL#9LQLZ?-MW=Z]W_X*V?\F@ZI_P!E!\#_`/I3?5^>?_!-
M+]J[X;?L<P>-/V:/VG$\4?"3QQJWCN77+/5O&'AZ[T_0$-QIUKIZV.I7D</^
M@H$L(9;36C`VAZA'<QR0WJ*4:7]3/V__`(8^+_VB_P!E]O#?P;L['QMJ>L>)
M?!OB32#INKZ6-/U30X7GN6U*PU6:[CTVZM9+:YAN()HKIH[F%P\#2`KGY/Q*
MPF*QO!7%N%P>'K8K$XK(LPI8;#X>E.M6Q%2>&DH4Z-.G&4ZLY-I1C!2DV[)7
M/T[P%S'+\I\7/#',<TQV$R[+\OXQR+$8_&X[$4L+A<%AZ6.IRJU\7B*\X4L/
M1IQ3E.I5E"$8IR<DDV?SW_%/_DR[]E#_`+'G]H/_`-//A*O<%_X)@_$1_@,/
MCZ/B;X)7P_\`\*VG^);Z+)8:XFKC38](77(]-1_(:R?4);$2Q\SI;K?"&W66
M2&5KJ'TSQ]^PA^U+K7[,O[/?P\TWX:&?Q1X(\5?&74?$VG'Q'X=C>PM?%&I^
M&;G094F;4OLES'>PVEZS^5<^;;O`J/"PD+1_L<WPQ\;?\,0/\)$TA/\`A8(_
M9]D\&QZ'+>VR(_B5?![:>FFM?QM-;()+X"#[0&>-"VXY`(K^7^&_#%Y]F&=S
MXGX=SF$,!P%PS+*I5*.8X",\WPO#>6T:N&A*,:2Q->E6I2HU<-[\H5(RA*"F
MFE_H;Q]](9<&9+PC2\/..N%*E3.O&;Q`AQ+"ABLCSJ='AC,./,\Q>&Q]:$ZF
M(E@,'B<+B8XK#X_]U"K0J4ZL*LJ<HM_S4?#@_P#&&?[38RG_`"4S]GX[2N7.
M'^(?*OL.U%SAUWKO+1G8^S*?O;_P2@_Y,X\*_P#8X^//_3[+7YJ^"OV"OVI]
M)_9D^.G@"]^&Z0^*_&'CSX.:OH6E/X@\/&2^TOPP/&YUNZAO([^6UC:QDU33
M5>UN;FU-Q'=--&TCVJ0R?JC^Q#X1U?\`99_9(@T[X^-IGPW?PGK7C+7O$%WK
MFLZ4--TW2;S4GO;:\GU*VNY[/;+"P$<2S&X>8B!(FE>-']WP:X=S_+.*^'\1
MF.29K@*%'@',\%5K8S+\5AJ5+%U.+<=B*>%J5*U*$(8B="<*T*,FJDJ4HS47
M%IGQWTK..N"N(?#?C?!9#Q;PWG6,Q?C5P]FV%PF5YWEN/Q.(RRAX9Y+@:V8T
M:&%Q%2K5P5+&TJF$J8J$9488BG.C*:G%Q7RA_P`%3)O*_:,_X)T+]L2U\WXR
MZHGEF#SI+K/BCX5+Y*'=^Z1MVR2;RSL9XCYD?23]K:_G._:*_:7\'_MU_M=?
MLF^$OV9-)\8>.;7X)?$V37?&/BR#09+7P_=:/=Z_X3N[RYLY=0^S/::78V7A
M74KE]5U-K`ZCOMK?1+:^N9$27^C&OZTFG&%*+TDE-M/=*4VU=;JZ[G^:$&I5
M*TXN\6Z<5):Q;A2A&5FM'9[V?;N?BA\+?"OB"'_@K'\2-<OO#FLQ:!<Z!XQ%
MMJMUH-V=(O&FLK!8E@U.XMUL4)`DG26.<O*L#V\6]IO+;L/^"B_AKQ!?_'S]
MBN^\.>'];OK+2_&^J7NM7&A>'9]3MK>&UU_P1<JE_=6L+)923VD>HQ6JSLB.
MCW=RKJUF,_K_`$5^7R\.*$N'<]X?_M:JHYWQ3+B>6+6%CSX:I+-,!F?U.-+Z
MQ:I#FP*H^U]I3?+5<W3O%QG_`$+#QZQD..N#N-O]6\-*IPCX=4_#V&62S*;H
MX^C3X<SCAY9I4KO`MT:O+FSQ?U5T*Z4\/&DL1RS4Z7X+67QEN?V+OVZ?VGM?
M^)O@#XC>(-%^+]VFH>"YO"6D1:C+K*3WZZEI2V!NKVTM[Y$74&T<V\=Z#:W,
M8$]O'(EM%7B'A?1?B)X@^&7_``4P\0:Y\._%?AC5/'NL^$=8T[PQ?^&M5@U.
MWN+[X@>*-5GT*WD;2;4:O-HEM>VUG-]@^T1J87O41;>]AN;O^E">TM+E[>2Y
MMK>X>TF%Q:O/#'*]M.%*B>W:16,,P5F421E7"L0&P2*L5XM7PGQ%:I4HU.**
MKRFEB^+,7EN7_P!DT?:82?%^!S/"8WZQC%BXU,9]6J9E.MAKTZ,7&#ISBY5%
M4I?68;Z2V"PE&ABZ'AUAEQ-B,M\,\MS_`#Q\2XOV&94?"_.>'LSRCZEE3RV5
M'*UCZ'#]+"X^U?%34ZT:]*:A0EA\1_.K>?M8Z]H_[$FC_LH:A\&/B)I_Q@\0
M^&H/!&B6\GA*:WT;5/#FI7[W5OKUK:7-I:SRW4^7T6XTE=,8+?B:Z66>U"O+
M^T'[)GPNU?X,_L[?"KX=:_*LFNZ#X7M3K2*C*EKJVI/)JFHV$98*\D=A=WLU
MI'+)%!+*D*O+!#(6C7Z#>VMI)X+J2W@DN;59EMKAXHWGMUN`@G6"5E,D2SB.
M,3"-E$HC0.&"KB>OI.%>"<5D.8QS+,L^GGE?!Y!@N&,JOE]++U@\IPE2%>4:
MZHUZT<7BJ]:G2<\0U3:A1BN5N4FO@/$?Q<R[C/(:F09#P;1X0P>:<:9MX@\2
M6SO$9Y+-.)LRH3P=.>$EB<'A)9;EV$PM7$JG@H2KJ5;%5)<\8TX1?XG?%S1O
MBC^P[^UWXK_:9\*^!_$7Q'^"?Q@M9XO'6E^&+1);W1+^9+&:2.Y98[B2*XCU
M:VEU73+J<6]K=0W%[!=7(EC)/RU^UM\0M`_:T\-Z_P",?@#^RIXATR#PUJNC
M^*?BC\9M9\"VTGBO4VN+ZTT*Q\.:,;&345U-9K_6#?ZM:/<BY:PT1KF2"VTR
M.]<_TK5'%%%!&D,$<<,48VI%$BQQHO\`=1$`51[``5X.;^%53,:&<93A>):F
M!X;SG&8W-)Y34R?`YA7R_,L=>I7J99F>(J*M@\)6Q<GB*V&ITO:\DZU"ABL.
MJ\ZB^VX7^DC0R+&\*\39CP!A\XX]X5RK*>':7$U#BK-\EP>=9!D[IT,%0X@R
M#`T)83-,RPF6TXX+"X^MB'AU4IX3%XW+L=+!TJ4OQZ\!>%?$\'_!49-?F\-Z
M_%H4?P,\,V\FMR:#>KH\=PGPQTBR:"36I(%M[>=;R.2T^R"7]_<QRQRA9[-$
M.5^T=<^-_P!E3]NO2OVK'^'_`(A\=_"?QQX,C\&>)KOPYI8U:_T&9K"TLI4@
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MQ-<:E<)!</!I^B06MK(B7=Q)=R^#?LY?';Q7\#OV?_C+^R5?_`CXP:Y\6=;;
MXFZ?9RZ#X>@N]'L#JWAN72[Z]O6N;B"Z:#2+>VN-4ADM+.^M=4@6W$$HCN4D
M/]'JJJJJJH55`554`*J@8"J!@`````#`'`I/+3?YNQ/,V>7YFT;]F=VS?C=L
MW?-MSC/.,UY2\+<93JT<QH<6XFCGM;$\05\YS-Y3A*M/,8<24\OH8VEAL#4K
MNEEOL:&686GA)PJ8CV?+*4X3YDH_1OZ1F5UL-BLCQOAG@,3P?A<!P/@^%>'X
M\39EAZ^1U>`J^=8O*<1F&<4<&L3GRQ>+X@S*MF5*I1P'M_:4X4ZE'D<I?RJ_
M$?1O$_AK]A;]E/3[W1]2T3Q';_'WXGRVNG:WIE[87<=W]JMC9F:PNH([HQO<
M*HV^23(`RJ&/%?67[3OQL\5_MSZM\&?V<?`WPA^(?@[QU8>-[74/B5>^*=">
MTT[P5J5A:FWUF"-@]TKV6CQM<:K+J.I?9X9K3^S[:"*XN;XB'])/VS/V5-:_
M:BL/A9:Z+XOTKPE)\//&4_B:Z;5=(GU:/4[>XM;>W:UMU@N(?LUPGD%HYW5]
MC.LD9CDB5C]J"-%9W5$5Y-OF.%`9]@PN]@,MM'"[B<#@8%?.8#PIS?ZWQ%D=
M3.<1@>&,3EO!&55JRP.#K5.(L'D>71I8N-"7UIULHKPJT?82K<E5.&)GR0K.
MG"I#[S.OI)<+O+.!>,*/"N!S?Q!P'$'B]Q+A,*\WS/"T.!LVXPSUXC+)XR']
MFQPG$V"J8;$O%T\*JN'DJV`I^UK895:U&K\D^&_VDIG_`&GK[]EF\\`ZMIYT
M/P.OB"P^(%Y=-;Z1XA&G:5X:N;RUT:SEL%^VO;'7H8[EX;UOLS1.90/E$GHG
M[3MI=W_[.WQMLK&UN+V]N_ACXRM[6TM(9+FZN9Y=#O$B@M[>%7EFFD<A(XXT
M9W8A54D@5NV7P@\.6_Q<U?XTWVH:_K?BZ\\.0^$=#@U74%FT+P9X<W6MSJ=A
MX5TJ*"&*PE\0:C:0ZAKM_,]S>7\D%I`94M[6.,^KU^O83+LUQ&6Y[@,WQD:B
MQ^+S>AETX4J*G@\GQ,'0P5&I&BH0JU*$'.493G*K4IRI^WJ*MSJ/\O9CGG#>
M!S[@[.N&,KG0EDN6<+XS/:-7$XJ='-.*<OJ1QF;XJC/%3K5<-0QE6-*G.G2I
MT\-1KPKO!T'AO93J?S*3^!?B#/\`LG_L3Z;_`,(GXN>_T;]HKXA:CK>B1^#-
M7BN-&M#XMTN5;W44BTY6TVSA#7$D;SQP6\JW<J1G;IS"/]!?^"COAWQ1K'Q?
M_8NU'P]H.N:O!H7Q'UB_U2XTG1[W4X+*UBU;P),ZW\UK;3Q6,=Y%#+;K<7!4
M1EVEC#/&%K]9J*^)POA5A\-DN;9,LZQ$XYIAN"\,\2\'%3H?ZFQP<:,XTWBI
M*3QWU-.I%3@L.ZCY/:6U_7<P^DEC<?Q;PUQ4^$L%2GPYF/BQF$,`LTG*EBWX
MJ5,SGB:-2M'+Z;IQR?\`M*4:,W3JRQJHQ]K[#FM'\(O!_CN__P""?G[57[1E
MQ\4_`_CWQ#X'^,E_/XI\">(/">C#5X;EKC7+W58[!99;F%2L;:TFAM&]R\]I
M/96@D@C6Z8U]K_";]IGX_P"J?L]_%3]H7XI_!V/3K+2)YM3^&'P\T+3=:TSQ
MEKOA6TD8SZCK-OJ-UJ\RO=QW-O'I[VME$7_LZ^OFMFL+FUG7]`I(HIE"S1QR
MJ#N"R(KJ&`(#`,"`0"1G&<$CN:DKULFX(S/(JF(H9?Q7BZ.30EG=?*<KCEV%
M;P6+SJI5K^VQN*J5:CS2CE^)K5:V!PU2CADI2BJ]2LH(^9XK\7>'N,:.!QF=
M^&V6XOBNK3X0P?$O$=3/<P2S?*^$L/AL$L-E.74,/0APYBL\P.#P^%SC'4<5
MCY2A"<L'0PLJDFOQZ_X>D>/?^C,OC'_X#ZS_`/,G17["T5'^J_'W_1SL1_XB
M/#_EY>3^_P`C;_B(O@M_TCS@?_%G\;?Y_P!7?E;Y]^/?[+GP/_:6T2/1OBYX
M(L->EM(IH](\06Q;3?%&A>>T32MI&NVFR\MU=H(_,MI3<64NW$UK(#7Y':U\
M`_V[?^"=E_=>)/V9/&%Y^T#^SI!=R:GJ?PC\16,FI:MH5FS>=>)'H]KF^T]`
MF^6Y\3^";E6FD5[[6_#4-K;E+C]\Z*_2XU)17*[2@]X2U7R[/LUUU/P&=*,W
MS:QG:RG%VDK6W>S5E:TDU;0_/3]E?_@I3^SY^TRUGX7FU)_A5\8#<+IM_P#"
MOQU<0VFI3ZL#*DMOX6U9E@L?$T(:)]B1)8ZPBX-WH]L"K/\`H4S*JLS,%506
M9F("JH&2S$X```)))P!R:_/W]J?_`()P?`/]IVZN?%<]G=_#CXI,;>XM_B%X
M,CAM;NXO[(`65WK>F8CM=2N(`%1=1@DT_6D1(_+U13!!Y?Y/V'PZ_P""@?B[
MQ])^P+K/[66GV_ASP_LU/5?'%@OB`^*-2\(&>XM5T9M=-G;Z]=K###//!I-Q
MJ$,/G_9K>XUNYM(8E@I0A.[A+D45>49W=EU<6D^;T:3(=2=.T:D?:.3M"4.6
M/._=M&49-<DM=6G*.JML[_I/^U-_P5%^"WP/N)/`/PM*_'GXX7M[-HFG>!O!
M<ESJ6F:/K)FET^!/$^L:7;W:B5=4$5NV@Z.+W7+A'W"*T26WGF^3?"/[&W[9
M_P"W-K&F>.OVX_B;K?PZ^%,5\VKZ+\#_``M%:Z/>S13>28(6TF#?9:%]FC22
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M?S84444AA1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
$0!__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
