<SEC-DOCUMENT>0000715787-22-000023.txt : 20220810
<SEC-HEADER>0000715787-22-000023.hdr.sgml : 20220810
<ACCEPTANCE-DATETIME>20220610100158
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000715787-22-000023
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220610

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERFACE INC
		CENTRAL INDEX KEY:			0000715787
		STANDARD INDUSTRIAL CLASSIFICATION:	CARPETS AND RUGS [2273]
		IRS NUMBER:				581451243
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			0102

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1280 WEST PEACHTREE ST. NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309
		BUSINESS PHONE:		7704376800

	MAIL ADDRESS:	
		STREET 1:		1280 WEST PEACHTREE ST. NW
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERFACE FLOORING SYSTEMS INC
		DATE OF NAME CHANGE:	19870817
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
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<title>Document</title></head><body><div id="i744f147b1900405f8ee659a166a86320_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div><div style="margin-top:12pt;padding-left:72pt;padding-right:72pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">INTERFACE, INC</font></div><div style="margin-bottom:0.05pt;margin-top:0.05pt;padding-left:54pt;padding-right:54pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1280 WEST PEACHTREE STREET NW</font></div><div style="margin-bottom:0.05pt;margin-top:0.05pt;padding-left:72pt;padding-right:72pt;text-align:center;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">ATLANTA, GEORGIA, 30309</font></div><div style="margin-bottom:0.05pt;margin-top:0.05pt;padding-left:180pt;text-indent:36pt"><font><br></font></div><div style="margin-bottom:0.05pt;margin-top:0.05pt;padding-left:72pt;padding-right:72pt;text-align:center;text-indent:36pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">June 10, 2022</font></div><div style="margin-top:12pt"><font><br></font></div><div style="margin-bottom:0.05pt;margin-top:0.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">United States</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Securities and Exchange Commission</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Division of Corporation Finance</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Office of Manufacturing</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Washington, D.C. 20549</font></div><div style="margin-top:12pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Re&#58; &#160;&#160;&#160;Interface, Inc.</font></div><div style="padding-left:24.45pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Form&#160;10-K&#160;for the Fiscal Year Ended January 2, 2022</font></div><div style="padding-left:24.45pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Filed March&#160;2, 2022</font></div><div style="padding-left:24.45pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">File&#160;No.&#160;001-33994</font></div><div style="margin-top:18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Ladies and Gentlemen&#58;</font></div><div style="margin-top:6pt;text-indent:24.5pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Interface, Inc. (the &#8220;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Company</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) is providing this letter in response to comments (the &#8220;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Comments</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) received from the staff of the U.S. Securities and Exchange Commission&#8217;s Division of Corporation Finance (the &#8220;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:100%">Staff</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) by letter dated May 27, 2022 with respect to the Company&#8217;s Annual Report on Form&#160;10-K&#160;for the fiscal year ended January 2, 2022, filed on March&#160;2, 2022.</font></div><div style="margin-top:12pt;text-indent:24.5pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Set forth below are the Company&#8217;s responses to the Comments. The numbering of the paragraphs below corresponds to the numbering of the Comments, which for your convenience the Company has incorporated into this response letter.</font></div><div style="margin-bottom:8pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Form 10-K for the Fiscal Year Ended January 2, 2022</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation Critical Accounting Policies and Estimates</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Goodwill, page 38</font></div><div style="margin-bottom:8pt"><font><br></font></div><div style="padding-left:40.8pt;text-indent:-35.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">1.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;padding-left:26.35pt">Revise this discussion in future filings to include information that will allow investors to better assess the probability of future goodwill impairment charges. For example, please disclose whether your reporting unit is at risk of failing the quantitative impairment test or whether the fair value of your reporting unit is substantially in excess of carrying value and is not at risk of failing. For each reporting unit at risk of failing, disclose the following&#58;</font></div><div style="padding-left:61.9pt;text-indent:-19.65pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;padding-left:15.45pt">the percentage by which fair value exceeded carrying value at the date of the most recent test&#59; </font></div><div style="padding-left:61.9pt;text-indent:-19.65pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;padding-left:15.45pt">a more detailed description of the methods and key assumptions used and how the key assumptions were determined&#59;</font></div><div style="padding-left:61.9pt;text-indent:-19.65pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;padding-left:15.45pt">a discussion of the degree of uncertainty associated with the assumptions&#59; and</font></div><div style="padding-left:61.9pt;text-indent:-19.65pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#8226;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%;padding-left:15.45pt">a description of potential events and&#47;or changes in circumstances that could reasonably be expected to negatively affect the key assumptions.  </font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%">Refer to Item 303(b)(3) of Regulation S-K.</font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div><div style="padding-left:42.25pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Response to Comment 1&#58;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">The Company respectfully acknowledges the Staff&#8217;s Comment. In future filings, if the fair value of any reporting unit with goodwill is not substantially in excess of its carrying value, we will provide the requested additional disclosures or summaries of them in MD&#38;A to the extent material.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%"> </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Notes to Consolidated Financial Statements</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Note 3 &#8211; Revenue Recognition</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Disaggregation of Revenue, page 55</font></div><div style="padding-left:42.25pt"><font><br></font></div><div style="padding-left:40.8pt;text-indent:-35.35pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%;padding-left:26.35pt">We note from page 4 that you offer various product categories, including Modular Carpet,</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Modular Resilient Flooring, Rubber Flooring, as well as other products. Please tell us how you considered the guidance in ASC 606-10-50-5 and ASC 606-10-55-89 through 55-91 when evaluating whether to disclose disaggregated revenue by product categories in addition to revenue by customer geographic region.</font></div><div style="margin-bottom:8pt;text-indent:-29.6pt"><font><br></font></div><div style="margin-bottom:5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Response to Comment 2&#58;</font></div><div style="margin-bottom:5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">The Company respectfully acknowledges the Staff&#8217;s Comment and advises the Staff that the objective of its disaggregated revenue disclosure is to provide the most useful information to users of its financial statements based on Generally Accepted Accounting Principles (&#8220;GAAP&#8221;) as outlined in Accounting Standards Codification Topic 606,&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%">Revenue from Contracts with Customers</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#160;(&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:125%">ASC 606</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8221;) and on categories that are meaningful to users of the consolidated financial statements and the Company. This assessment requires judgment, depends on various entity-specific and industry-specific factors and is not subject to a single prescribed factor as the basis for disaggregation.</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">In determining the appropriate categories to use to disaggregate revenue for purposes of its disclosure, the Company considered the requirements of paragraphs&#160;606-10-50-5 and</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%"> </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">606-10-55-89&#160;of ASC 606, which require an entity to disaggregate revenue from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Further, the extent to which an entity&#8217;s revenue is disaggregated for the purposes of this disclosure depends on the facts and circumstances that pertain to the entity&#8217;s contracts with customers. While some entities may need to use more than one type of category to meet the objective in paragraph&#160;606-10-50-5&#160;for disaggregating revenue, others may meet the objective by using only one type of category to disaggregate revenue.</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">We also considered the Background Information and Basis for Conclusions included as Section C of Accounting Standards Update No. 2014-09 (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:125%">ASU 2014-09</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8221;), which originally introduced ASC 606, and paragraph BC336 in particular, in which the Board decided not to describe a specific characteristic of revenue as the basis for disaggregation because it intended for entities to make the determination based on entity and&#47;or industry specific factors that are most meaningful for their business.  </font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Paragraph&#160;606-10-55-90&#160;of ASC 606 states that when selecting the type of categories to use for disaggregation of revenue an entity should consider how information about the entity&#8217;s revenue is presented for other purposes, including all of the following&#58;</font></div><div style="margin-bottom:0.08pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:6.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.020%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:85.780%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#160;&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">a.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#8220;Disclosures presented outside the financial statements (for example, in earnings releases, annual reports, or investor presentations)&#59;</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#160;&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">b.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Information regularly reviewed by the chief operating decision maker for evaluating the financial performance of operating segments&#59; and</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">&#160;&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">c.</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Other information that is similar to the types of information identified in (a)&#160;and (b) and that is used by the entity or users of the entity&#8217;s financial statements to evaluate the entity&#8217;s financial performance or make resource allocation decisions.&#8221;</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">In applying the disaggregation framework outlined above, the Company considered its existing reportable segments and reporting units which are organized by geography. When considering whether to also disaggregate revenue by product categories, the Company considered that it does not disclose sales by product category externally, including in earnings releases or investor presentations. Additionally, the Company&#8217;s chief operating decision maker, our Chief Executive Officer (&#8220;CEO&#8221;), primarily allocates internal resources and reviews revenue performance by geographic region. While our CEO has access to sales information by product category, financial performance, including variable compensation targets, is evaluated geographically and not by product category. The Company also has an integrated sales force organized by geography where each regional team sells all of the Company&#8217;s products. </font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Consistent with ASC 606-10-50-5, we also considered whether the impact of certain economic factors would create greater uncertainty on the timing and amount of revenue and cash flows at the product category level. The Company concluded that the impact of certain economic factors from a specific geographical region, including but not limited to, pandemics, acts of war and inflation would have a greater impact on the timing and amount of revenue recognized and cash flows generated for that region. </font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Based on our evaluation of the guidance in paragraph 606-10-55-90 and 91 as well as considering the guidance within the Background Information and Basis for Conclusions in ASU 2014-09, specifically paragraph BC336, the Company believes it has met the disclosure objective in ASC&#160;606-10-50-5.&#160;We believe disaggregation of our revenues on the basis of geography is most appropriate due to our global footprint and for the reasons set forth below, and that further or additional disaggregation would not provide materially useful information to our financial statement users or be meaningful to the Company.</font></div><div style="margin-bottom:8pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">Approximately one half of our revenues are from outside the U.S. and changes in foreign currency exchange rates could have a substantial impact on the amount of our revenues. Our disaggregation provides meaningful insights to revenues by region, each representing a different risk profile, enables users of its financial statements to understand how the Company&#8217;s revenues impact its financial position and is consistent with how the Company manages its business. </font></div><div style="margin-bottom:8pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">*****</font></div><div style="margin-bottom:8pt;text-align:justify;text-indent:31.25pt"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:146%">The Staff is requested to direct any further questions regarding this filing and this letter to the undersigned at (404) 450-1153. Thank you.</font></div><div style="margin-bottom:8pt;text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:146%">Sincerely,</font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:194%;text-decoration:underline">&#47;s&#47; Robert H. Pridgen</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:5pt;font-weight:400;line-height:194%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:146%">Robert H. Pridgen </font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:146%">Vice President, Chief Accounting Officer</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:194%">cc&#58;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:5pt;font-weight:400;line-height:194%"> &#160;&#160;&#160;&#160;</font><font style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:194%">David B. Foshee, General Counsel and Secretary</font></div><div style="margin-bottom:8pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:125%">David M. Eaton, Esq., Kilpatrick Townsend &#38; Stockton LLP</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:0.08pt"><font><br></font></div></div></div></body></html>
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