<SEC-DOCUMENT>0001193125-17-380169.txt : 20171227
<SEC-HEADER>0001193125-17-380169.hdr.sgml : 20171227
<ACCEPTANCE-DATETIME>20171227164956
ACCESSION NUMBER:		0001193125-17-380169
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20171227
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171227
DATE AS OF CHANGE:		20171227

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNEX CAPITAL INC
		CENTRAL INDEX KEY:			0000826675
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				521549373
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09819
		FILM NUMBER:		171276490

	BUSINESS ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060
		BUSINESS PHONE:		8042175800

	MAIL ADDRESS:	
		STREET 1:		4991 LAKE BROOK DRIVE
		STREET 2:		STE 100
		CITY:			GLEN ALLEN
		STATE:			VA
		ZIP:			23060

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE CAPITAL INC/VA
		DATE OF NAME CHANGE:	19930722

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOURCE MORTGAGE INVESTMENT CORP
		DATE OF NAME CHANGE:	19930505

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RAC MORTGAGE INVESTMENT CORP /VA/
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d410959d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): December&nbsp;27, 2017 </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DYNEX CAPITAL, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Virginia</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">1-9819</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">52-1549373</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>4991 Lake Brook Drive, Suite 100</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Glen Allen, Virginia</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>23060-9245</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (804)
<FONT STYLE="white-space:nowrap">217-5800</FONT> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name or former address, if changed since last report) </B></P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;1.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Entry into a Material Definitive Agreement. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;27, 2017, Dynex Capital,
Inc., a Virginia corporation (the &#147;<I><U>Company</U></I>&#148;), entered into an amendment no. 1 (the &#147;<I><U>Amendment</U></I>&#148;) to the amended and restated equity distribution agreement, dated March&nbsp;31, 2017 (the
&#147;<I><U>Original Agreement</U></I>&#148; and, as amended by the Amendment, the &#147;<I><U>Amended Agreement</U></I>&#148;), between the Company and JMP Securities LLC (the &#147;<I><U>Agent</U></I>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Amendment increases the number of shares of common stock, par value $0.01 per share, of the Company (the &#147;<I><U>Common
Stock</U></I>&#148;) that the Company may offer and sell under the Amended Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the Amended Agreement, on or after
December&nbsp;27, 2017, the Company may offer and sell up to 10,000,000 shares of Common Stock from time to time through the Agent, as the Company&#146;s sales agent under the Amended Agreement. Sales of shares of the Common Stock, if any, under the
Amended Agreement may be made in sales deemed to be &#147;at the market offerings&#148; as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on or through the New York Stock Exchange or on any
other existing trading market for the Common Stock, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices or by any other method permitted by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Agent is entitled to compensation of up to two percent (2.0%)&nbsp;of the gross sales price per share for any shares of the Common Stock
sold by the Agent under the Amended Agreement. The Amended Agreement contains various representations, warranties and agreements by the Company and the Agent, conditions to closing, indemnification rights and obligations of the parties and
termination provisions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From time to time, in the ordinary course of business, the Agent and its affiliates have provided, and in the
future the Agent and its affiliates may provide, investment banking services to the Company and have received or may receive fees from the Company for the rendering of such services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing description of the Amended Agreement is not complete and is qualified in its entirety by reference to the full text of the
Original Agreement and the Amendment, copies of which are filed herewith as Exhibit 10.34 and Exhibit 10.34.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> respectively, and are incorporated herein by reference. In
connection with the filing of the Amendment, the Company is filing as (i)&nbsp;Exhibit 5.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> an opinion of Troutman Sanders LLP with respect to the legality of the shares of
Common Stock to be sold under the Amended Agreement and (ii)&nbsp;Exhibit 8.1 to this Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> an opinion of Troutman Sanders LLP with respect to certain tax matters. </P>

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


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(d) Exhibits. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d410959dex51.htm">Opinion of Troutman Sanders LLP with respect to the legality of the shares. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;&nbsp;&nbsp;8.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d410959dex81.htm">Opinion of Troutman Sanders LLP with respect to certain tax matters. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;10.34</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/826675/000119312517108752/d354160dex1034.htm">Amended and Restated Equity Distribution Agreement between Dynex Capital, Inc. and JMP Securities LLC, dated March&nbsp;
31, 2017 (incorporated herein by reference to Exhibit 10.34 to Dynex Capital, Inc.&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed April&nbsp;3, 2017). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;10.34.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d410959dex10341.htm">Amendment No.&nbsp;1, dated December&nbsp;27, 2017, to Amended and Restated Equity Distribution Agreement between Dynex Capital, Inc. and JMP Securities LLC, dated March&nbsp;31, 2017. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d410959dex51.htm">Consent of Troutman Sanders LLP (included in exhibit 5.1). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;23.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d410959dex81.htm">Consent of Troutman Sanders LLP (included in exhibit 8.1). </A></TD></TR>
</TABLE>

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

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"><B>DYNEX CAPITAL, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: <U>December 27, 2017</U></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen J. Benedetti</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Stephen J. Benedetti</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Executive Vice President, Chief Financial Officer and Chief Operating Officer</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>d410959dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Troutman Sanders LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Troutman Sanders Building,
1001 Haxall Point</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Richmond, VA 23219</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">troutman.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">


<IMG SRC="g410959g1227230828872.jpg" ALT="LOGO">
</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>006174.087763 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;27, 2017 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynex Capital, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4991 Lake Brook Drive, Suite 100 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Glen Allen, Virginia 23060 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Registration Statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (File <FONT STYLE="white-space:nowrap">No.&nbsp;333-200859)</FONT> </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have acted as counsel to Dynex
Capital, Inc., a Virginia corporation (the &#147;Company&#148;), in connection with the preparation of a prospectus supplement and prospectus (together, the &#147;Prospectus&#148;) included in a registration statement on Form <FONT
STYLE="white-space:nowrap">S-3,</FONT> file number <FONT STYLE="white-space:nowrap">333-200859</FONT> (the &#147;Registration Statement&#148;) filed with the Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), on December&nbsp;11, 2014 and declared effective under the Securities Act on December&nbsp;30, 2014. The Prospectus relates to the issuance and sale by the Company from time to time on or after
December&nbsp;27, 2017, pursuant to Rule 415 of the General Rules and Regulations promulgated under the Securities Act, of up to 10,000,000 shares (the &#147;Shares&#148;) of the Company&#146;s common stock, par value $0.01 per share (the
&#147;Common Stock&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This opinion is being furnished in accordance with the requirements of Item 601(b)(5)(i) of Regulation <FONT
STYLE="white-space:nowrap">S-K.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We have examined originals or copies, certified or otherwise identified to our satisfaction, of such corporate
records, agreements, and other instruments, certificates, orders, opinions, correspondence with public officials, certificates provided by the Company&#146;s officers and representatives, and other documents as we have deemed necessary or advisable
for the purposes of rendering the opinion set forth herein, including (i)&nbsp;the corporate and organizational documents of the Company, including the Restated Articles of Incorporation, as amended to date (the &#147;Restated Articles&#148;), and
the Amended and Restated Bylaws of the Company, as amended to date, (ii)&nbsp;the resolutions (the &#147;Resolutions&#148;) of the Board of Directors of the Company with respect to the offering and sale of the Shares, (iii)&nbsp;the Registration
Statement and exhibits thereto, including the Prospectus comprising a part thereof, and (iv)&nbsp;an executed copy of the Amended and Restated Equity Distribution Agreement, dated as of March&nbsp;31, 2017, by and between the Company and JMP
Securities LLC, as sales agent, as amended by Amendment No.&nbsp;1, dated December&nbsp;27, 2017 (the &#147;Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of the
opinions expressed below, we have assumed (i)&nbsp;the authenticity of all documents submitted to us as originals, (ii)&nbsp;the conformity to the originals of all documents submitted as certified, photostatic or electronic copies and the
authenticity of the originals thereof, (iii)&nbsp;the legal capacity of natural persons, (iv)&nbsp;the genuineness of signatures not </P>

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


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dynex Capital, Inc.</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 27,
2017</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"> Page
 2
</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">


<IMG SRC="g410959img002.jpg" ALT="LOGO">
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
witnessed by us, (v)&nbsp;the due authorization, execution and delivery of all documents by all parties, other than the Company, and the validity, binding effect and enforceability thereof and
(vi)&nbsp;the truth, accuracy and completeness of the information, representations and warranties contained in the records, documents, instruments and certificates we have reviewed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In expressing the opinion set forth below, we have assumed that the Shares will not be issued or transferred in violation of the restrictions on ownership and
transfer set forth in Articles VI and VII of the Restated Articles. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based on the foregoing and in reliance thereon, and subject to the limitations,
qualifications, assumptions, exceptions and other matters set forth herein, we are of the opinion that the Shares have been duly authorized and, when and if issued and delivered against payment therefor in accordance with the Restated Articles, the
Registration Statement, the Resolutions and the Agreement (assuming that, upon any issuance of the Shares, the total number of shares of Common Stock issued and outstanding, together with the total number of shares of Common Stock reserved for
issuance will not exceed the total number of shares of Common Stock that the Company is then authorized to issue under the Restated Articles), the Shares will be validly issued, fully paid and nonassessable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are members of the bar of the Commonwealth of Virginia and are not purporting to be experts on, or generally familiar with, or qualified to express legal
conclusions based upon, laws of any state or jurisdiction other than the federal laws of the United States of America and the Commonwealth of Virginia and we express no opinion as to the effect of the laws of any other jurisdiction or as to the
securities or blue sky laws of any state (including, without limitation, Virginia), municipal law or the laws of any local agencies within any state (including, without limitation, Virginia). This opinion is limited to the matters stated herein, and
no opinion is implied or may be inferred beyond the matters expressly stated herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our opinion is as of the date hereof and we have no responsibility
to update this opinion for events and circumstances occurring after the date hereof or as to facts relating to prior events that are subsequently brought to our attention and we disavow any undertaking to advise you of any changes in law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby consent to the filing of this opinion as an exhibit to the Company&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> the
incorporation of this opinion by reference in the Registration Statement and to the use of our name under the caption &#147;Legal Matters&#148; in the Prospectus and Registration Statement. In giving this consent, we do not hereby admit that we come
within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act, or the rules or regulations of the Commission promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ TROUTMAN SANDERS LLP </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-8.1
<SEQUENCE>3
<FILENAME>d410959dex81.htm
<DESCRIPTION>EX-8.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-8.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 8.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Troutman Sanders LLP</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">875 Third Avenue</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY 10022</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">troutman.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">


<IMG SRC="g410959img001.jpg" ALT="LOGO">
</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">006174.087763 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December&nbsp;27, 2017 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dynex Capital, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4991 Lake Brook Drive, Suite 100 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Glen Allen, Virginia 23060 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"><U>Dynex Capital, Inc.</U> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have acted as counsel to Dynex Capital, Inc., a Virginia corporation (&#147;Dynex&#148; or &#147;you&#148;), in connection with the
preparation of a prospectus supplement and prospectus (together, the &#147;Prospectus&#148;) included in a registration statement on Form <FONT STYLE="white-space:nowrap">S-3,</FONT> file number <FONT STYLE="white-space:nowrap">333-200859</FONT>
(the &#147;Registration Statement&#148;) filed with the Securities and Exchange Commission (the &#147;Commission&#148;) under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), on December&nbsp;11, 2014 and declared effective
under the Securities Act on December&nbsp;30, 2014. The Prospectus relates to the issuance and sale by Dynex from time to time on or after December&nbsp;27, 2017, pursuant to Rule 415 of the General Rules and Regulations promulgated under the
Securities Act, of up to 10,000,000 shares of common stock, pursuant to the Amended and Restated Equity Distribution Agreement, dated March&nbsp;31, 2017, by and between Dynex and JMP Securities LLC, as amended by Amendment No.&nbsp;1, dated
December&nbsp;27, 2017 (the &#147;Agreement&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You have requested our opinion regarding Dynex&#146;s qualification as a real estate
investment trust (&#147;REIT&#148;) pursuant to sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), for its 2015 and 2016 taxable years. In addition, you have requested our opinion with respect to
whether Dynex&#146;s organization and contemplated method of operations are such as to enable it to continue to qualify as a REIT for its 2017 taxable year and subsequent taxable years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Dynex has a number of wholly-owned subsidiaries (&#147;qualified REIT subsidiaries&#148;), the income, liabilities, and assets of which are
consolidated with those of Dynex for U.S. federal income tax purposes. This letter refers to Dynex, together with such subsidiaries, as &#147;Consolidated Dynex.&#148; In connection with the opinions rendered below, we have examined such records,
certificates, documents and other materials as we considered necessary or appropriate as a basis for such opinion, including, without limitation, the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">The Restated Articles of Incorporation of Dynex, as amended, effective June&nbsp;2, 2014; </TD></TR></TABLE>

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


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 27, 2017</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"> Page
 2
</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">


<IMG SRC="g410959img002.jpg" ALT="LOGO">
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">The Amended and Restated Bylaws of Dynex, effective as of May&nbsp;16, 2017; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">Consolidated Dynex&#146;s federal income tax return for its taxable year 2014 and 2015; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top">The 2016 Form <FONT STYLE="white-space:nowrap">10-K</FONT> of Consolidated Dynex; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top">The Registration Statement and the Prospectus; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top">The representation letter, dated the date hereof, delivered to us by an officer of Dynex as to relevant factual matters and covenants as to future operations (the &#147;Representation Letter&#148;); </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top">The Agreement; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top">such other documents as we have deemed necessary or appropriate for purposes of the opinions provided herein. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the opinion rendered below, we have assumed that each of the documents referred to above has been duly authorized,
executed, and delivered, is authentic, if an original, or accurate, if a copy, and has not been amended, and is accurate, correct and complete in all material respects. We have further assumed that during Consolidated Dynex&#146;s 2017 taxable year
and subsequent taxable years, it has conducted, and will continue to conduct, its affairs in a manner that will make the representations set forth in the Representation Letter true for such years; and that neither Dynex nor any subsidiary of Dynex
will make any amendments to its organizational documents after the date of this opinion that would affect Consolidated Dynex&#146;s qualification as a REIT for any taxable year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Further the opinion is based on the assumption that (i)&nbsp;Consolidated Dynex met certain asset, income and distribution requirements
applicable to REITs, (ii)&nbsp;if Consolidated Dynex were ultimately found not to have met the REIT distribution requirements for any taxable year, such failure was due to reasonable cause and not due to willful neglect; (iii)&nbsp;each of Dynex and
its subsidiaries has been and will continue to operate in accordance with the laws of the jurisdiction in which it was formed, and in the manner described in the relevant articles of incorporation, bylaws, partnership agreement, LLC operating
agreement or other organizational documents, (iv)&nbsp;there will be no changes in the applicable law of Virginia or of any other jurisdiction under the laws of which any of the entities comprising Dynex and its subsidiaries have been formed, and
(v)&nbsp;each of the written agreements to which Dynex or its subsidiaries is a party has been and will be implemented, construed and enforced in accordance with its terms, without regard to any parole evidence. In addition, for the purposes of
rendering this opinion, we have not made an independent investigation or reached independent conclusions as to the assumptions that we have made or of the facts set forth in any of the aforementioned documents, including, without limitation, the
Registration Statement, the Prospectus, the Prospectus Supplement, and the Representation Letter. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>


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


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">December 27, 2017</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"> Page
 3
</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">


<IMG SRC="g410959img002.jpg" ALT="LOGO">
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based solely on the documents, assumptions, and representations set
forth above, and without further investigation, we are of the opinion that Consolidated Dynex qualified as a REIT in its 2015 and 2016 taxable years and that its organization and contemplated method of operation are such that it will continue to so
qualify for its 2017 taxable year and subsequent taxable years. Except as described herein we have performed no further due diligence and have made no efforts to verify the accuracy or genuineness of the documents, assumptions, and representations
set forth above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The ability of Consolidated Dynex to qualify as a REIT for subsequent taxable years will depend on future events, some
of which are not within the control of Consolidated Dynex. Additionally, it is not possible to predict whether the statements, representations, warranties, or assumptions on which we have relied to issue this opinion will continue to be accurate in
the future. We will not review Consolidated Dynex&#146;s compliance with the documents or assumptions, or the representations set forth above. Accordingly, no assurance can be given that the actual results of Consolidated Dynex&#146;s operations for
any given taxable year will satisfy the requirements for qualification and taxation as a REIT. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing opinion is based on the Code
and Treasury Regulations promulgated thereunder, each as amended from time to time and as in existence as of the date hereof, and on existing administrative and judicial interpretations thereof. Legislation enacted, administrative action taken,
administrative interpretations or rulings, or judicial decisions promulgated or issued subsequent to the date hereof may result in tax consequences different from those anticipated by our opinion herein. Additionally, our opinion is not binding on
the Internal Revenue Service or any court, and there can be no assurance that contrary positions may not be taken by the Internal Revenue Service. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing opinion is limited to the U.S. federal income tax matters addressed herein, and no other opinions are rendered with respect to
other federal tax matters or to any issues arising under the tax laws of any other country, or any state or locality. We undertake no obligation to update the opinions expressed herein after the date of this letter. This opinion letter is solely for
the information and use of the addressee, and it speaks only as of the date hereof. Except as provided in the next paragraphs, this opinion letter may not be distributed, relied upon for any purpose by any other person, quoted in whole or in part or
otherwise reproduced in any document, or filed with any governmental agency without our express written consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We consent to the
references to this firm in the Prospectus filed with the Registration Statement and to the filing of this opinion as an exhibit to a Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> incorporated by reference into the Registration
Statement in which the Prospectus is included. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section&nbsp;7 of the Securities Act, or the rules and regulations of the
Commission thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Troutman
Sanders LLP </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.34.1
<SEQUENCE>4
<FILENAME>d410959dex10341.htm
<DESCRIPTION>EX-10.34.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.34.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.34.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>Execution Version </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DYNEX CAPITAL, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENT NO. 1 TO </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDED AND RESTATED </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EQUITY DISTRIBUTION AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">December&nbsp;27, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">JMP Securities LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">600 Montgomery Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Suite 1100 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">San Francisco, CA 94111 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the Amended and Restated Equity Distribution Agreement, dated March&nbsp;31, 2017 (the <B>&#147;</B><B><U>Distribution
Agreement</U></B><B>&#148;</B>), between Dynex Capital, Inc., a Virginia corporation (the <B>&#147;</B><B><U>Company</U></B><B>&#148;</B>), and JMP Securities LLC (<B>&#147;</B><B><U>JMP</U></B><B>&#148;</B>), pursuant to which the Company agreed,
in its sole discretion, to issue and sell, from time to time, through JMP, as agent, up to 7,416,520 shares of common stock, par value $0.01 per share, of the Company. All capitalized terms used in this Amendment No.&nbsp;1 to Amended and Restated
Equity Distribution Agreement between the Company and JMP (this <B>&#147;</B><B><U>Amendment</U></B><B>&#148;</B>) and not otherwise defined herein shall have the respective meanings assigned to such terms in the Distribution Agreement. The Company
and JMP agree as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">A.</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendments to Distribution</U> <U>Agreement</U>. The Distribution Agreement is amended as follows: </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">1. The first sentence of Section&nbsp;1 of the Distribution Agreement is deleted and replaced with the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;The Company agrees that, from time to time on or after December&nbsp;27, 2017 and during the term of this Agreement, on the terms and
subject to the conditions set forth herein, it may issue and sell through JMP, acting as agent, up to 10,000,000 shares (the <B>&#147;</B><B><U>Shares</U></B><B>&#148;) </B>of the Company&#146;s common stock, par value $0.01 per share (the
<B>&#147;</B><B><U>Common Stock</U></B><B>&#148;</B>); <I>provided</I>, <I>that</I>, such number of Shares available for offer and sale are in addition to any offers and sales of Shares that have been made prior to the date hereof under the
Prospectus Supplement dated March&nbsp;31, 2017.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">2. Exhibit A is amended by adding &#147;as amended on December 27, 2017&#148;
immediately after &#147;March 31, 2017&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">3. Exhibit E is amended by adding &#147;as amended on December 27, 2017&#148; immediately
after &#147;March 31, 2017&#148;. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">B.</TD>
<TD ALIGN="left" VALIGN="top"><U>Prospectus Supplement</U>. The Company shall file a Prospectus Supplement pursuant to Rule 424(b) of the Securities Act reflecting this Amendment within two business days of the date hereof. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">C.</TD>
<TD ALIGN="left" VALIGN="top"><U>No Other Amendments</U>. Except as set forth in <U>Part A</U> above, all the terms and provisions of the Distribution Agreement shall continue in full force and effect. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1. </P>


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


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">D.</TD>
<TD ALIGN="left" VALIGN="top"><U>Counterparts</U>. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed
Amendment by one party to the other may be made by facsimile or email transmission. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">E.</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U>. This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York without regard to the principles of conflicts of laws. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[Remainder of page intentionally left blank.] </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2. </P>


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

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing correctly sets forth the understanding between the Company and JMP, please so
indicate in the space provided below for that purpose, whereupon this Amendment No.&nbsp;1 to Amended and Restated Equity Distribution Agreement shall constitute a binding agreement between the Company and JMP. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DYNEX CAPITAL, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen J. Benedetti</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Stephen J. Benedetti</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Executive Vice President, Chief Financial Officer and Chief Operating Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>ACCEPTED as of the date first-above written:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>JMP SECURITIES LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thomas Kilian</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Thomas Kilian</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Operating Officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3. </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g410959g1227230828872.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g410959g1227230828872.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  [ )<# 2(  A$! Q$!_\0
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MVAR\U_P97UBG:]SL**X4^.M2TZ6,ZUH$MM YQYBD\?@1S],UK:]XMCT9M/\
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C9:7:I;6X4/L4DY8C)))Y)]S55KQCRR=Q1U=S6HHHKD+/_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g410959img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g410959img001.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ 1 "G P$1  (1 0,1 ?_$ ,<   (!! ,! 0
M      @)  4&!PH! @0#"P$   <! 0$               ,$!08'" (!"1
M  8! @0% P$%! 4-     0(#! 4&!Q$( !(3"2$Q%!46(A<*05%A,B,8<:'!
M)8'A,R0GD4)20S5E)C9&AI9G*1$  0($! ,%!04#!P@+     0(# !$$!2$2
M!@<Q01-187$B"(&1H3(4L<%"(Q718B3PX8(S)187\5)RPE.#1%22HK)#8W.C
M-&0F-O_:  P# 0 "$0,1 #\ W]Q$ #41 /$ \?W\>@3@2)X<8@#J/^K_ %\%
MA<U99'QY1Z1'/'<>1.! B<"!$X$")P($3@0(X$=..5*R"<B?"/0)QP!@$=/W
MB'[?+@%65020<?= EA..W'4>1.! B<"!$X$")P($3@0(X'PX'#&!ASCQ/'[=
M@V<.W;ALU;MB"HNX=+$0;H)@(:G664,0A"E ?U$.$[KZ:=@/U"VVD<U+4$I$
M^\R ]IXQXLAM)6L@(\9?$X1K+[K>\IW-ZQERR5;:!VF+[D7%%<?NHJ/R7EMW
M*PCZ^':+'1//P%7KKM%:"KSDY!%KZU91VNEHH=-'FY FUEI-O:JEZEXU#0TK
MW/\ -:*0.^9GW>,,=3=\BBEHL)3CYEN)RB7;(SQX>)@9A[V/?B!RS9CV;JZ#
MN1*8\:T-,WPKN1(0QR*'CVPS'7>E3.F8IA2*<"B40'Q >)-2Z;VYK&5U-)>7
M'Z-(F'FPV6L..979V=\H+9NE:_3(=:2RM2R<4DY!($XF?=#H=J.\O?#F#MVY
MZW,9JVB,,3;J,=PV?'V--N2#J<5:7Z0QU0QL.-&*KAZ\6E4PO]F#V\W24*)0
M\2<IN(37MZ13=64VBY)J=/')U:@%)Z?FD].7EFVGS&?MA937 U%M76)+9<2E
M7 ^4*2)R)GP[<>$$5W"]R=TVJ;>'&5*#%5^7L7S6K5A%O94GR\:BWG3/BKNQ
M1CW;)=5PAZ8.0O4 HZCKQGO??<2Z[8:#.IK,VT[6_5M,A+A(3)P+)/EQGY1$
M6W)U/6:1TRJ\T+:7:E+S:0E4P#F)XRQY1D/:UFQUE?;UB')5XEZTA:[M2HV?
MGDF3EI&LD)%Z9;K(M6*[U59LDD! #D,8Q@_;PZ;<:[I=1:'MNH;S743=QK:5
M+JV^HD9%*)&4 G-('#$3G#QIK4%/=;!27*M>IVJM]L*6C.,%'D)F?=!+"[1!
M#U K(]'E*?K"H4J'3, &!0%3& G()1UUUT$.+++[88349D%DB<\P EV@G"42
M-2LC>=Q2$IXS)PEXQ3&ME@7K@C1I.PCIR<QBD;-I1BNY.8H")BD02<'4,8H
M(CH'@'"-N[VZJ6&Z*IIEKGB.HDJ]@!.,$-5=,XYTDNM+</)*@3[I\!SBAVC)
M-&I9B$MMRJ%7,J'.F2R62&A%#DUTYRIR3YLH<H_M* AP367^RVY]3%QKJ*G=
M GE<=0A4NV2E".*JX6^C.6KJJ9ESC):PDRY\3V1ZJU?J9<R**5&V5>T))  J
MGKM@B9H$0$/ 5?;G;@4P']-=/#CJAOUGNDC;:EA\$R\CB%GV!*E1[27.UW!&
M>WU#+Y''IJ"OL)BN.9B-:+I-W,A'MUUA(":#AV@BNKSGY"]))10JBG,?Z0T
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M-4- ,'2<2+ILDH(E'70HCX<.%9=K=;FNK<GV:9L\"XXA(5X3(!]\'55?14B
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MP27U_> %6XWY6>>E> P46U)GS R3C1549(?)_P!A_JQK6]JU152/[A13K*G
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M:.A0(N00T$1\=8E26A_8OU&6K2>G:VL>TW7]/.R\X2F3V9O+A@KIDYDDC$@
MPS,VX[=;D4-FM+[J[74$E2%G !2%83YR.(@;.[S%2<]^0AVE(B'9+2,D^QC,
M(-VR":A^85+!E%+K+&3*;T[1'J 958VB:1/J.(%\>/JO0,5-7M1J*CIRD5;M
M*\V@$RF?(D>\'WQ?%\8>?=#;2 LELB4R)Y@4G'E(&</:P7LVMF'.W;D3;2E(
MQ\EE#(>+,P-I)<5S)P:%_P DTZ4AFL>BZ,43>U1BJK5N9;E^OIG4 -! .,AZ
M*VI?TIL?<- MN%=SKZ&NS$@ !ZJ96WE$N2?*)F&2PZ+8L>C*G33,R*E%05?Z
M3Z2"/CQBR^\^T7<[*GZB*9CD992QVZ<F*41*BAZN1;=533R(*[DA-?\ I&#B
M.^K]MQ>SKBFTJ647&F40.P=3$]V,1_?!+AT.5-@%2:MDX]GF!^V,]]O&R0LI
MLLVZBPE(]P+#'4;#OR)O&YCLI.,<.FCUDZ3!3G0<MUTQ Q#:&#B<;$72UG:*
MP-4]0STVZ)+:\ZTA04)C+('YB>79C$BV]?H!HB@9;?;+K=,$R*@/E//LA7^;
MC ;O=X>T\CHXZ_Y/@M@T_N'C,^N25>LZS@*'ST9$L9@4SI/OX>!BL+X@G?:F
M4LHDE%/( XG X^R&][TXA]/[2MQ<+&(F7>N,17$S=),.=17TL4J[4*0@>)CB
MDW'0 \QXUGO-1/W+:[4%,P%*?7;'  D3)F,QEX 1<>M:9=;I&Y,MC\Q=.\)>
M G]T EV3+#&/]JUD@&SE \O7\L61218@J0SINVF8J"?1RZR &%5-%P4A@*80
MT$R9@_3BD?1K<J2JVN=M#*VQ4,7%TK3F_,RK"2%$=TI#D<8KS8AUIW1'3;<0
M:D5*UJ1/Y58 #P,N,8T[Z,]'DP]ABKG<)#.R62I2:0C2*%%V>.C*J^8+NBMQ
M'K"@9Y*I)%.(  G'3]O#'ZTZEE>E+5;%K'UJJMQP)!!PRY4C#&:B<,.,Q#9O
M^^RFPV^W*4DU[CYRI29F:L/=,\>Z!?W>M3TW=7VUT[$(1:=?Q)MU:2KAZ(((
M,U8JWMDY$'"IQ!-$K)0=%!,.@<5?NI*S[FZ JZU)0&K9;Y@X',C+F&.&!P/9
M$7UJ%T6M]._5>5M-/3 *. .4C/,\LHC9FDG[=G%R$@Z6008(LW;E9ZJJ1-J@
MV22654=+KF,"2;4B(<XGUTY>/HQ<:AEBW/5:G&DTX94O,M0"99,<?#GPC3]4
M4=!]_.V*?Z<XS_=]T:WG:;;*R<7O[78%%RA)T9=%BLF43)N%'Z615FA4U"ZD
M.99)4A@ /'0=>,"^EUMNJ5KA5.2NEZ;J4K P5FZIG_+E&=-H)+H]053)"VE*
M7P[0E?#NQC,_8JG8AMC3.]?4D61)A.]5B4]L5<HI2!HY6MG9$>$:'.54S?U#
M,R8G !*!_ 1X??1%<*)BQ7JA??815FK8.12PE4LKN; R)EW=\X<-A'F&[974
MO5:2M#Z$R4J2L I,R.^?OCV=]=0BN*,!F3.FH Y#M6@IG*<-2U@A3!J41 1#
M0.%_K6=;7I6R+0%*8^N>DM,BB9;E(D'GRE!^^3Z#:+4$D*6JN*04XI\HG.?L
MATV,!TQ)CT?V8[J@_P"@*XQ'C7%@4!I"B4/E%K8/_H"+EMF%@8G_ ,JG_L0B
M+LEA_P 6MW(_M<0OA_[LN/Z_KY<8K]&7GO>J23BE;( [9N/*)\8HW9$H5>;X
MI)QZX^TQ[^^#XVO:8'_>MS'7]@>ZTC4>$WK)6V+SI8$G-U*H\.0J*><&;X-E
MVZV5& G5(X\  L186?*G5=Q_=FB<+9\G'Z.*H:HP3.O0:DZI!Q[@Y,>-[&VC
MV+LRB96B]DGG*@*J("5=8"@D4P#IPBUQ;;9N'ZH_[J:U?4C2J6O*CJ% <RT:
M5@8D!,UB<^Z&_4%,-2[KL:>OKG_UX4W]6%2#I2V5)F9B4E *PXP7&Y7MA[,J
MU@/+5OI5(<U6V4^@VBU0$W'W.??'1DH"(=2;5)9I)RCYHZ;.3MNDH04_$IQT
MT'3BTM>>G?9FBT3<KA8F6Z>M8H75(=%2HC,E)(S3409\.7&)9J#:K0C5FJ:N
MBIPQ4,L+6E8</%*29'S'YI2[IPL:L?5V:K^(::_U218F+IRB'.>M:!R_IJ8W
M&:K:Z'/1]<&WB5=*_)"9?A\J9&?.<R,>$XJ>S)4?3Z\65)E]<5+'&0+J1('G
MCE,^/&'Y]N$>78WMQ$/(* 7S\]?>I8?#]VG&^]B\BMH=/Y.'Z8G[3&D- J0G
M1= 9G!F?N),*UWN!_P#KIM0$/$ ^SVO_ ,MLNFO]O&6MZ5I5ZJ=,(X+!I/;-
MXQ3^O'0K=^TMC@ID.?%29?&<._6V_P"(WV=F>Y=[3(E_FV+QQ]IH.^/D?62M
M=H2DV]L3^$KX+B=&("8E7YC/%D2E6<$(1,QNF7E'?YJJM=-]$VXI%/U%$@<Y
M+3@?&4HTD4C.%_B"?M,9I FA1+KYZ^/]H<%MMALJ(QS+*O?RCTJ),SQC'N6,
M54C-F/['C'(L.G.T^TLP9RT><ZB*ABD4(NV<M7*)B+-'K)TD19%4@@9-0@"'
M#%JG2UDUG97=/Z@:+UL>EF2"4F8X$$<"(;KK:J"]4#EMN+8<I7$R(/(\E#O'
M*%-D[)6%6$FFY@<V9JAHHD@W>FA4G\&9%8B#E-<6RSE"/9*J%6(GTS'$.IRB
M/CKQF-GT?:2H+BU5VB[W2GI6GTN!F84CRF>7B#CV\1%3HV:HJ=2?H;A4M-)5
M/*$@X3G+YAA[(+6R[!J+9-VM-W;*7BUL;+2VM<:,*>W;1!ZXX1K4([@V@+N%
MFYI,HK-W8F/RJ!]90TT\>+&N.Q%FKMSZ#<YNL>:K:#H@,Y$J2L,M*: *RK,,
MP5,F1Q$2BJV^M]3K!C6/66FM90VG)E!"@V)"9G,3'=!R.XYN];.6CDB:[9V@
MHU<MUTBK(+MUBBFN@JD?Z%$EDS"4Q1U 0$0'B\G&4.H6TZ IEP95)(F%)D4E
M)\08GJFFG6RR^D+9453!X$*X@]T)JO'9PJ25PFK;@+/V2<$ISCA5=Q7(;KO8
MQH1=4ZYV+!_'S4!+$BT5%!%%NNHX!(/I*;0-.,AWOTDVQ5S>NFCKW76CKIDI
MIE("22HJ*LP<0><LLN0Q$4U6;-4GZBY6V.XU% RX9])M(*03SGF!\,(J^+.S
M_183(,#D;.&:<@9]E:X\:OX^(LY#-X9==@J5RR2EUGTK.RTC'-W1"J>E!=%$
MY@T.!RZ@+EISTIV&DO[6H-9W6NOCK"4Y&G\$!:9$*)SJ*AA\L@.TF.K3L]34
MUV;NM]KW[BXRX%H#B$@)RXRP4K""^W=;',2;PJ_!L+TM+5^QU/U@56Y5OTB<
MK%(2'3%[&N6[M)5I)Q#E5$AQ04 O(<@&3,0=1&T-U-EM([L4C2+WU6+C3) 8
M?:,EM"8.4#@H&7 R[HF.L]$6[6=&TQ6*4W4LN%3;B0"I,^4B1@/$0O@>S;<'
M;?X]*;U\L/:08@-SP)HV24249@ $]*+1S=UXH$Q3#ET% 2 'Z"'AQ1"_217O
MRHG]6WA5MRD95)F)<A(O2QX=@[(@*]FJYQH,*OM8FGE)20VDYAV&:N$,QVM[
M1<5;2Z"[HN.$9!Y[T^+*VJQSRB#N<L\F1L#1%9^HBD@V29M6VI$6R1"I)E,.
M@")C".B]M]K--[9:?5I^R)*FG?ZY:@ ITRD2KC*8Y3,65I#2%GT;;E6^V(F7
M/G6>*SSF.'LQ@),C]F3;M;K=+6VF7C)V*#3#UU(.(.J24<XA6CE\LHX=%BDY
M!D=\Q9G74$Q4.N=-/R(!2Z %/7_TE:(NEWJ;O:*RMMCE222EB4DDF?EQ&''#
MOB#7K9?3MRN/ZE0.OT3I6%+#?!1!GVB7QB_[]VM\:7_;[B3;Z_R?D%M#XGGK
M)8FMH!.(?V&Q2-G%T+TTP9^@LV*1('/*0$BET*0 X?-0>G"R:@T':]#U%SK<
MEL><<2^H!Q3A<!!"D*4$@"8RR.$H=KGMK2W*PT=B55NI125!="R@*4LF>!F<
M./&9ACD' H5BJ0M<0<K.&M?@(V$2<JE(59=M$QZ+$BZI":)@JJDAS& /#4?#
MPXT!16YNDMK-I026VZ=# /,A*.F#+MYRBPZ=A%+0II"9H0UEGW 2G"'NS!F'
M8QE/*&Z]GM#R=F2_6*LO()#*3+*./4*6PA5W-FN*+'XX[1\98JTDQ>$/S:B5
M-,AO^=Q7^@?3BYL95U]<[5NU"KP4+ 4A*,@1F.&4F<\^,Y1!M$Z1MVF:JNJ*
M-];RZMS,0I(3ED3@)$SX\<(9%N_V+4K>'*8RE+;=;14E,8NI1U&I5UK$N"21
MI5S$N52/1DT%S$*D:((!>GH.AQ_=PR;J[+V[=)^WU-56N4;UOZV4H:0YFZRF
MU&>90E+)A+C/N@_6.A:76-525-4^MI-(O,$I2#FYXDD2]D4O=)VZ<$;K)*(L
M]O/8JM>X:-;PZ%SISMJRDGT8S\6328:O6KUA(^B.(BBH*9%D^80 _+H %;E;
M!:)W+=;KKAUJ2]MR_B63)P@)2F1Y2RI ]\<:HVYT_JD-KJ.JQ5MH"0XVK*L@
M"0QX]V'+" _/V1L9*IF14W&9P40,44S(*+09TCI"'**1TS-Q3.02CH("&@AQ
M4CWHWL+C2F4Z@NX96D@I5E4D@B1F"H Q"5[&6[*4LW2XI!$I*65ID<""DJD9
MC]L% Y[:V)"[3U-I</;KG%59W<6=YD[<88E_:9*>;/TWQU%BJLDXM-NH#=)(
MJ9$0!-), #41$1LJI]/>G5;6+VKM]4[36UVH#RW@VE2U*  Q22!B0#.?*)A_
MAM96M(?W0HU*:IB4E2P 2HI4%3*9RQ([8+C V'8G >':%AN#EY&=B*#!A!L)
M>63;)R3Y$';IV"[LC0J;8JVKH2Z$*!= #PXMK1VF6-'Z7H=,4KJG6:&G#*5E
M(25 <RD3 /<#$PM%J:M%J9M3:BMME&4*(D3QQD/&!SR]L.I.8-SV-=T,K>+5
M$67&85<(VM1S6(4@I'XM*/Y1MZY9RW/(%]2=^8A^F<H 4H"'CX\5OJ_9&VZM
MW(M^Y#U<ZS6V_I292VE25])><365 B?# &0,1:]:#H[SJ:FU*I];;],T$! 2
M"" J<\Q,QV8"#J*0"Z>.OG_?Q=B493/O4?>9Q/B9F?=*._'<>1.! B<"!'4Y
MA*&H!J.H!I_:/]@\>*4$B?/[X\,^4:[>[?\ )H[>^UO+5HPE$1^7=P=ZH\P^
MKUO6PW6X=[48>>BU3-I6&1M-BGH1O-OXIV4R+@6*3ENFL0Q.J)BF +!M>VNH
MKC0-7%PL,L.B8S+\W=AWPWO72D9F 2I0/ "<8*QO^5EM4R?D;'^,(':CNQ)8
MLCW6KT2 Z\-0O3^\6R;904<=P8MNYBMDW3XIE!* F A1$ $?#A15;9W2EIEU
M+E13EM"23)6.'M@MJ[-/.!MM"\Q[1(>^&Q]S3ND8:[7./L;Y R_1\C9#)E&Z
MOZ36ZYC!C$OYTKF+@W$[)2SU.:E(IJE$LT4TTC& YC]5<@ 40'4(CIG3E3J6
MI<9I%-(4V#-2E8>'C"JJJOI$!;@*D'L&,*&KGY<>PMY,,6-WP1NLH$0\<)H'
MGWE0ILR@TYQTZRL?'7,L@LFGX"8J)%5=/(@CX#,']L+VTC.V[3N+F $A6)G"
M$7NFGY@M([2(V(L.;L=ON?, 1>Z/%&3ZS:,%R==E;0:_E=*1\7#Q4 BY6LGR
M-*02;O:\_K0,U@?MG22:S8R8@8NF@C J^W7"W5ZK;6-E%4%!(3Q))P'L/(C[
M<(<DU+:V>NE4VHUT<C?E>[>37FP5':]M W);IXNONE6QKC6FZ%9C)5)%4Z(2
MD5$(PMNL98=YR"=LL\:LSK)B!NF7RXL1C:N[HIFZF[5%/2%P3RJ(*@#PPF(1
M?JC15)L33VSC->SO\FG:EN-SA5]NV9L+YBVBY,O$S'5JJ#E,D?(U)[99A4C:
M%@Y>9;MX:7K3F;=J%0:+/(U-HHN8I#+$$P:H+QMQ>+?2*KJ)QFKID":B@XA/
M,R!,Y1U2W)JH7TUC(KQ_R0?O<Q[OFUOM=5RK*YH&S7+).0$7KJ@X?Q\V9O;A
M.1T<J1L]GY-Q(NF456JT@^4*W!VZ4YEEQ$B":IB' K'IO2MRU.ZM-#E2PW\R
MU8)![/&#:NN;HT%;@)Q& XXPGJ'_ "L:<BX;RF6.W!NYQIBEV*?K,ED31L#2
M,C7(B0DJNQ?5>K1J[8"& X@G)#]/\(F'0!EB]LJA !:KJ9=2E0.3P/;F/#PA
M,W=F'TE*4+!(/$8<,<8#K\2&QQ"N8>YA;SO$6< Z)CRT#(R*A6*#2$=V[*\P
M#V057,5-DDWCUNHL8X@5("FU'0->'?=EFN2W;!6J"WBV4A*<?\T#WX0DL80V
MVZL_YT_ 0Q++7Y1V FN2K3CO:3M)W(;SV].>K,):\8XC!AZH]4;N%6QGT"1&
M#M=A?0KA1 WIG;ADR3<E#F3YBB BR46V%S<I$5=TJ:>D*Q,)4?-(\,)B'!5Q
M:F0V,P'.,][%/R*-L6[W.D-M?R9B3+>T3/EI>$C*;4,R-FQH>U3:J1EFU;9S
MR3:)>QEBDDTS>C;OX]J1X8O(DH=02D,UWW0%UM%(JX,.,U-"B14I!Q )E\LS
M/CVQS371IY?3<&17+&<_@(*3N+]Z?99VS9.#IF<)NVVS+-EB L$3B7%L(VL5
MM0@%EE6S*<L:\C(PT%68V3<MU$VOJG15W D,*:1B )@:[#I*\ZA*E424"G!E
MG49)GSQERA155U/2@9B5$\@,8'385^0=MPW]9IG,/TW"&<L5MJKC"Z9=MN2,
MJMZ?$T.KTVD),5))_-R,?87Z[0JH2!>0W(*90*8QS% .%^H-#72P,AUUQEU2
MBD!*%3,U&0$A.$[%U8?=#02M,P<2)# 3@<<I_EB]O*FW"7JV-L>;C,ZL(9VL
MS/<Z/38"+J\H*"ID_6P9K19HN;>Q:X%YD5U&2!52B E 2Z"+E2;8W^IID5+B
MZ=HJ$RE2Y* [90%71E.8A*BE/9Q]T9EV2?D:;=M]&YO'&US'.V[<G5KAD@\\
M=E8+C%4UO685A6Z])6.5DYEPPLSMXDU2:1HD+TTE#&54(&F@B()KQM_<K-;7
M+F^_3K:: F$JF3-03A[X\8NK-0\EE*%A2NT8<)QL0@.H:Z:?N_T_X\0&'2.>
M! B<"!$X$"*?+-U'<:_:(KF;+.V;EJDZ)KS-E7*"B";@.40, HG4 WAX^''G
M733K0XL$HSIG+LG'*@2@@8$B/S?-CV[FY=@O<?NZQGO#V'VS*DQD&[(KQ^0T
MV#2-EVT5!2]D60F*;9[+7)2 M='O+29(_$S5Z@?U!"]01,4Q2:"NMEHM<6^D
M?L-:ED,M95)4J0)PXB8D1$:8<%M=5U6RH$_,.(]G\\;"FTS\E[MD[D,ITS%E
MCQG=]O%LN$[%P55LF1*=1G]'3L\BZ3;0\=(VZJR<BM75W;]1-)%RX;)-RJG+
MSJI^80>Z[9ZKH*%VN8<0_3MI)5D7CEYX<8<6KO1ONAKS D\Q!/=UKO08.[?&
M0,=X!2P'9MU^YS(,4C8:MB*I(Q^D)&3+QS%0;B4E'$/8Y+W6R/V"I6<?'L'+
MIPD@8YA(7I\S+I/1M3>&55C:_I+:D_F+G,9I>(YX3F(47&N13%*&1G>/ <,.
MV$][C>\#G+)NW_+],W?=A7,-/PG;\=VV&D+^:K3,@WHB\M!/6T-<W06/$T(U
M8IUV251=BZ*]9*-Q2!0J@"4.)C1Z:MU!7,O6^]3JTNI\H ,Q/$8.&>'<80KJ
M7:AE2*AD=,COX^Z!B[15AGD/QS.[W&EEWX-(0<J%BDR.E0*P]^PY4"3/HQYM
M4"26@F4Y=.<3"(^(CPZZQ;0=P+:Y(%2U(),N,B((MLC;G0?EGPAQ'XG%6KT;
MVP9"RQ\/&M+!9MQ^6$K!-(,FZ4I+H0C*JL89N^?IID<N&T6UU(@F8PD2YC<H
M!S#K$MVR\_K%_K..%(;1E ) 2#R A99&VQ2K5+S%?'W?MA<OY;\#$0V>NV_>
M(J.91UO?2-]CGMD9-46TR\9UZYXLDH)!U((E(Y<)Q#U^NHV QAZ)E3B73F'5
MZVI61;+J%%2NG2KRS43Q2H'#M_9":[MI#[2V_*KN\8HF]%C'YH_*VVKX^R,R
M0M-3JC# !6$#-()R,.=*,Q58\IMT%8YV55HLW-;UA<J)F*)3G#4P#Y<'69/0
MVNJ76"4.YUDD&1,E2&/*4AXP*A:DW:G'%)$B.V8^Z-X*X52OW.G62F6J)CI^
ML66!E(&<A)5DV>Q<E$R3%9H\8NV#A-1LNV6;J"42&*)=!\N*7I%N,U:*IM:P
MX5X>8X8\H?5IS-%!EB.R/S<^TU.O\6;*/R#7M0<.(M>M[?&5:B%VJITW+..=
MV3*E2$$%BCU"*)Q+LQ2CKX<:%U<RP[<]..+22M4R2<9Y<IE+O,1VA4EFG?S"
M:1]Y@BNQ_P![C9OVT]GCW"V1<(Y\LV4+'E.W7BUW#%U$K4O#S46];Q<=58]:
M:?6>(D%UH&+C^F"!D@30$Y^0?K-J1KO0EZU+?'+@V\RVSTTY4%P@I\!X09;Z
MRGIJ=Q122<W+$\HQ;W*^X7B7NI[^.W-?=G^%,Y5/*./LHTZK6*3N-":1%CGB
MN<K4F:J8M%ZO+3JSUI6B-I%4ZCE1(K9)<V@\O-P1IO3CFG-/W!-W<:<;+2I#
MJS(PXY98XP345-/6OH4TE8>![) S[3!L'J-9R_\ EY6& R=!QEY@H!)22C(6
MSLD)B*;O*9MBCY.K']O?D7:*)PDFH+EN4Q!*1?0X>/CPE:=72;2*+,TN+<'F
M&!_K!AA"A!SW@H(D43/;.8_GC;!W_;=9G-NQS=EAG#L3"1&2,H8&R%2ZB>/9
M,8120F92#7"/@SOVJ3<R",TX2*T$3&!,.MJ;0H#Q4]GKTT5VIZVI6HM-NI)G
MCS[(=ZA*BRH2!,NR-(/M?]XRK=H;"4YM*W3]N[(2]X@,D6V>L%W)%P55N2IY
M=PW*,+:XF]UYJH_&O"V%%FX0DC-3M>7D('\1[MU?I1S5M8C4-HKFTTSK:?RR
MKY) #RR//G@(::>J%*>F6AB<3/$?"-FWMT]^3MW[^LOQ.&L>5JRX4SE-M)):
MFUG)5.JT26W^W,E74K&5&XU>1EH]Q,H,$E53,ES-5EDB&%(%-#%"M;]HC45E
MHE5KB@]0HEF4%8 $@ D>)$.#-<R\X&Q@H\H?L Z@ _MX@\+HYX$")P($3@0(
M^+A4B"*BZBA$DD2&5544-RD323*)U#G-^A2$*(B/Z ''"TO+RI8EU"H<<<.S
MQ[($TB95PE&K)<_RONUPC-V&IV;'.X&P)0$_-P"CA3'6/)B'?GB))S&+/H\K
MZ_@95@^,UZB(F2*<Z1BB)0'P"S:;:W53K*7Z;*E"TSP41]QAH5>*0$S )!E"
M%^XWN5PQWS-P^TW%W;,V=WJ&R!7K7)(WS**V-ZO4%'L)/2%=!@>U/*0XE8^/
MJE$".<R2LA*O$Q3$_(D41$=9E8K;<-&6RK?OU5)*FE(#942/,)<#S/8!"&K>
M^H>0*4!4R)B7?VCL@\.[HURGV[>]7M6[FEQQ#=<S;<H3&N/:Y+6"K1JK]%E/
MT^GV7'UGBW$DLBI'0%E10FD9J."04;(O#'.4B@&*<2LNDUTNH-(UFG:>H2S6
M+=S!)'S#,5=HD ,)"<X45B54]>U5*1-M*2/;*4%EF7\K'MMY)PSE?'C.A;F$
MI6_8QO=+:(2^/:<:-3D+3596#;)29T\A.!]"#E\4%C 0^B?,.@^7#50;5:G9
MK$5&'32ZDS*C*04#@)0<JZL.(+8'F*3A/NA<O:?J]B@?QO\ NX3TS"R47"69
M+)RU<E)!FX9LYUO#8JJ4=)/8I9P4A7S)N_ 4A63$R8J%,4#")3 $FU:<NO+5
M3E2%.HR!4C.6/.$5N2L4#RU"0)PAT?XH:A%.U(R,F8IR_P!2>:PYBF P (%J
MWAJ&OCQ%-UO_ -@__P"6C[X7V7_V:O\ 3_9"W/R]5DDLH]M/J*$)S3^5N7G,
M!==+)B'7340UX=]JY_I]V $YTY'OS"$]W(ZK4_Y8QZ>][B7/>RSNG;3^[[CK
M$-GS!A^N1&,TLFH51B_?'@)Z@Q\C69.&L+B/:/E*ZRN./Y4A8Z172%H5ZW.1
M0P::&,T95T%WTQ6:2?>#-65'*3^($S.!EP\3'%>A3=8Q5?A2/N@Q6_Y=7;F.
MP*$IB?=-%2)V_*YCAIE$< U<G2'J-_5!D%$#E3.;EY^F&OF!?TX:_P#"C4*%
MI+2FELA8DK'F>,OYX5_JS"L/Q2.$^Z%&?C\;;+/O%V]=ZJD0<8_B:_N-QTQH
ME%M,TS7:02MUGGF5+) 1JL@)1:K*1KB08'? B=3TZ:H";^(NLJW#K%66XV8.
M%)52#&1F9>69EW"$5I2:A+W43)"C%6[5G=VQSV<<-W;8QW$]JN9JI=J/EBXV
M2$GX^BUV0=*HV4S )2'?-+;(UX'C)K*,%%V$C'N'C-XU<EY1+R@)O-3:/N&M
M'T:BTW4I>I^F L9Y%)X"0$YXF7+MCJGJVJ/,VXV$@'C/'[/OA_&R/\@C8)OD
MW-8_VR;?<29H:9)OB-D=1DW.X[H<'!0;"L5Z1L4Q(RTE$W"2DFC0C%@8@&21
M/S*J$+X<VH02]:!U'8K<[<K@H"G0!/$S.8A(Y#F1"ZGN-/4/!I(\Q^['[H4;
MCM9(?S#+REU"=7VJU:I\P<^@;58P?X?/^'Q_LXE;IEM*&_WP9^+@PA*$RO74
M'XA*7@.,;EN?<U4O;AA/*N>\BK.D*-B"B67(-I,P316D%(>L1CB4=-8Y%RNV
M;K2+PK?HMR'43(=8Y0$Q0'4*?I*1ZNJ6Z.G +[BPD X"9,/+BTMH*U_*(UE9
M?\L;M1VA "VG#^X.7(9,!,VGL58RF"E()=03,1[?W1=! ?+R\?/BR!M1K!"L
MK2DA0 (DH\^S"&IRZ407YI'W0J/!TS"]V+OQ;:-U6Q#:W:<(;>,)2N/[?ER\
M.*9$4R#=GQ^XGY.6L]@-5@5J+:RVY%^UAF;-)RX?/"I@JKH7GTD=R9>TOHVJ
MMEZJ4OU[P 2DJ).*DF0G,G*)GD,.4$L)ZU>BH:; 9'$^P]W./T("!](#Y>(C
MH :!YC^FH\44!)1/;#_.._'4>1.! B<"!'S5Z734ZW3Z/(?J]7EZ?3Y1Y^IS
M_3R<FNNOAIP!Q$N,>&4L>$"@Y_H5ZI_6?TF=;G/S^I^SW5Y^8>?GZOU\_-YZ
M^.O#LC]=RC)]7EY2ZDO9!/\ "_\ A_",S8T^S7M[K[._;+VOG+ZW[:?%?;^I
MX\GJOBW^[\_GIS^/"2I^N_XSJ_T\W^M':.E/\O+/NE]T7Q-^R>TOODGM7L70
M'W/WOTGM/IM2\WKO7_[GT.;37J?3KIPF:SYQT)]3EEX_".U99>:4N^!Q/_15
MSGZG]+G5YAY^?[3\_/K]7/S?5S:^>OCKPZ?V[E_XO+_O)05_#S_!F]D9J_X:
M? U?_(WVP]J6ZW_8'P/V/4WJ.K_Z>]JUUY]?Y/GKP@/U/U S=3ZJ>''//[8,
M\F7EE^$=L?\ VW^/A]J_A'Q;USK3[?\ L/Q_W+^7ZW3XY_EWKOX>K_UGES?I
MP*CZGJGZO/U^>>>;_K8P$9)?ERR]T43(WV3Z\)]V_M;ZGG<?&_N-\2Z_4YVW
MJO9/DW\SGZG1ZG0\>;DU\>7CNF^MDKZ3JY9>;)F^.7[X\7T_QY9]\HR2X]'Z
M1;U7IO0^G/ZCU'2])Z7ICU.MU/Y/I^EKS<WT\OGX<)DYL_DGU)\N,XZ,I>:6
M6!L??T9^K<>Y?TQ^NZAO5>N^U?J^MS#S^H]1_.ZG-Y\WCKPZ)_6\OE^JR=W4
ME!7\//\ !F]D9MH_P+V!#[;?$/BW66]-\']F]@]1]/7Z'L/^7=;RY^7ZO+7A
M!4?4=3^*S]7]^<_CCVP8G)+R2EW1:F3OL5R,?O-]I>3E'VW[G?#N3EYC<WH?
ME7AR\^NO3_77@ZE_4)'Z+K2YY,WQRQROI?\ >9?;+[XMC'?]*WR5'[3?T_?,
M/2N_3_;O[<_)?1=+_?NC\:_S3TO1_P!KR_1R_P 7AP;4_JW3/UGU'2YY\\N.
M$\V''XQRCH9O)DS=TIQ=R/V2^Y"OI_M9]WN53K]'XE]R.3V\O5ZO)_XGY?:M
M.;7P]/IK]'!!^M^GQZOTG]+)Q_Z/'XQW^7FQEG]DXO6T?&/CTO\ -/8?BGHE
M??OE'M_Q[V[0.O[O[M_EOHM/X^M_+_;P0WU,XZ4^I/"4YS[I8QTK++S2R]\#
M*I_0?SCU?Z1^?]>I]F^?]VO-X^?#K_;_ /\ ,G_O()_AOW)^R"*I'P/X^V^V
M_P 1^+<Q_1_"/9OC_/H7J>F]A_R[FTTUY?'RUX;JCZGJ?Q>?J_OSG\<8-3EE
..Y92[HN[@B.HG @1__]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g410959img002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g410959img002.jpg
M_]C_X  02D9)1@ ! @  9 !D  #_[  11'5C:WD  0 $    9   _^X #D%D
M;V)E &3      ?_; (0  0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0(" @(" @(" @(" P,# P,# P,# P$! 0$! 0$" 0$"
M @(! @(# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,# P,#
M P,# P,# P,#_\  $0@ , !\ P$1  (1 0,1 ?_$ +0   (# 0 # 0$
M      @)!@<*  $"!0,+ 0 " @,! 0$            %!@0' 0,( @ )$
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M^JLLHF@CDZ;BU4#QF6Y@8O7F+IKKX#_ ?[N'7<TIGKI@SN"+X? X[G+H(Z^
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MZ94A(B@V(=1PY$!433)XWQS;G'<^X=S:/LIP>N@H[A%;6RU-;-'O+W"(2.+
M X@(0![02XIIBQ.0\CY95\O@X#Q^HCIZME,))*A[5W^PN1 "BIX#5/#$3W%Y
M:WH;0<8T;&<WG:%R[GG<9EA&KT6\&IL5%1^/ZFU90L<[(UB/0$;O)F0GYQ(
M<.$UB((F,8I!,4.!/<'E?=OM%Q6EL5QO45VYG?+CT*>?I"-M/%MC:2&@ NDZ
MCBCB" "/+$7D=\YCQ&UTEGFK(ZCD-SK-D<VU!'&D;4VEHSW.73'U<K[?.X5@
M_&%LS/$;^9V\SU KK^YS%)EZ)&)UR6:0;0\C,L62KMQ(H' &:"@I%.S1ZW*
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M+W:)=4MU>1[,I6UK=V.HL8J=<QC%HBQ.G'.BHJF231 AP3$.7QXXM[L7B_\
M*>!]MKO-4[>3552\FH.O5+XF;R /-H)08HKF=5<[OQ_B5?).67>>0D3 !0]&
MYD:)F/7#(UPWF[2,3;@,Y9YW#5O/;.HXO>NZ-46%*95=FQN)I%LBUF)9PRCV
M+AVT(*Y""B4X 8ACCX#RB'0\@[L]K>*<AYGS6]0W84] #2Q1L(;&]=H<X.8P
M:D% 2J%?+%F <RX=:+I>[[<&7"**F#H6[=I8_P 5]H&U<P%TP,^*,>]Q#->
M8_=4WWQ/ZU,6*M3%\KV-4*3$FK ,(L\BLUBY!1($&+<7Z<>/T^B<%3*H4#&,
M(&'BO.,V3OMRC@T7<Z'F71GGI35,I?I6F+9'N)B>0?'81DTZYX6;;;>X=]L;
M.5MOCH'NCZK8&L!B(:I+7J%"@$>U4RQ\K;(XW\=P"ARV9T-WP8,B(B?5IL+4
MZ1161FC^1A8F+<OY63Y7;95-%ZXD2CH=5SJ?GY2)D A>(/;>H[X=\[%+R_\
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MA7HR">] [A,$SK,9*(5(HGJ!RARF$.4P#Q4_Y5^X'#>WO';MQKF%PI[;>!=
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M38_^ODH'V?HS(?QT_P"A5O/[^/T[KR&\(J' :6I^7_KZ8ZQF(%A+$*NHB/\
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M--)S7I^'82T,LF@  @4T:^07::-P .GH3\/3Z=.+&N5DM%XM[K5=::&HMK@
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MN'R21RB4YR%3?+;_ '"I9*N> U;:/I22)[.JF1<GCX?%,:&13OM<C6,<!O"
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&"9B;C__9

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