<SEC-DOCUMENT>0001193125-13-218614.txt : 20130514
<SEC-HEADER>0001193125-13-218614.hdr.sgml : 20130514
<ACCEPTANCE-DATETIME>20130514111825
ACCESSION NUMBER:		0001193125-13-218614
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20130509
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20130514
DATE AS OF CHANGE:		20130514

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ORTHOFIX INTERNATIONAL N V
		CENTRAL INDEX KEY:			0000884624
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19961
		FILM NUMBER:		13839997

	BUSINESS ADDRESS:	
		STREET 1:		7 ABRAHAM DE VEERSTRAAT
		STREET 2:		CURACAO
		CITY:			NETHERLANDS ANTILLES
		STATE:			P8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d538924d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, DC 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K
</B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>the Securities Exchange Act of
1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Date of Report (Date of earliest event reported): May&nbsp;9, 2013 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>Orthofix International N.V. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Exact name of Registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" 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>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Cura&ccedil;ao</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>0-19961</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>N/A</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(State or other jurisdiction</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>of incorporation)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Commission</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>File Number)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>7 Abraham de Veerstraat</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Cura&ccedil;ao</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>N/A</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of principal executive offices)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Zip Code)</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code: 011-59-99-465-8525 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see</I> General Instruction
A.2. below): </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:10px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt 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" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;5.02.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</U>.
</B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On May&nbsp;9, 2013, Orthofix International N.V. (the &#147;<U>Company</U>&#148;), through its subsidiary
Orthofix Inc. (the &#147;<U>Subsidiary</U>,&#148; and collectively with the Company, &#147;<U>Orthofix</U>&#148;) entered into a letter agreement with Vicente Trelles, Orthofix&#146;s Executive Vice President of Worldwide Operations and Shared
Services, pursuant to which it was mutually agreed that Mr.&nbsp;Trelles&#146; employment with Orthofix would cease as of the close of business on May&nbsp;10, 2013 (the &#147;<U>Letter Agreement</U>&#148;). Pursuant to the Letter Agreement,
Mr.&nbsp;Trelles will be entitled to receive, subject to the terms and conditions set forth therein, approximately $479,000 in severance benefits and legal expense reimbursements from the Subsidiary. Mr.&nbsp;Trelles will also receive certain paid
health and dental benefits from the Subsidiary for up to 18 months. The foregoing summary does not constitute a complete summary of the terms of the Letter Agreement, and is qualified in its entirety by reference to the text of such Letter
Agreement, which is filed herewith as Exhibits 10.1, and is incorporated herein by reference. </FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Financial Statements and Exhibits</U>. </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibits </FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Letter Agreement, dated May&nbsp;9, 2013, between Orthofix Inc. and Vicente Trelles. </FONT></TD></TR></TABLE>

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

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Orthofix International N.V.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Jeffrey M. Schumm</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jeffrey M. Schumm</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice President, General Counsel and Corporate Secretary</FONT></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date: May&nbsp;9, 2013 </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT INDEX </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:37pt"><FONT STYLE="font-family:Times New Roman" SIZE="1">Exhibit&nbsp;No.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:37pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1">Description</FONT></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Letter Agreement, dated May 9, 2013, between Orthofix Inc. and Vicente Trelles.</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d538924dex101.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 10.1 </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g538924g54f35.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;9, 2013 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U>By Hand Delivery </U></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vicente Trelles </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">5760 Daniel Road, Apt 7311 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Plano, Texas 75024
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear Vicente: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">As
we have previously discussed, the decision has been reached to not renew your employment agreement (&#147;<U>Employment Agreement</U>&#148;) with Orthofix, Inc. (the &#147;<U>Company</U>&#148;) at the end of its current term which expires on
July&nbsp;1, 2013. Because we value your services to the Company, however, we have prepared a severance package to assist you through this transition. Provided that you accept it, this letter confirms the agreement (&#147;<U>Agreement</U>&#148;)
between you and the Company concerning your severance arrangements, as follows: </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. <B><U>Separation Date; Post-Separation
Obligations</U></B>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Rather than requiring you to continue working until July&nbsp;1, 2013, you and the Company have
agreed that your last day in the office and your official employment with the Company will end as of May&nbsp;10, 2013 (the &#147;<U>Separation Date</U>&#148;). On the Separation Date, you will tender written resignations to the Company with respect
to all officer and director positions you hold at that time with the Company and any member of the Parent Group as that term is defined in the Employment Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(b) From the Separation Date and continuing through June&nbsp;30, 2013, you agree to remain available to the Company, when and as requested, to assist in the transition of your responsibilities.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) You agree to participate in an exit interview with the Company, at a time mutually agreed-upon but within two weeks of
the Separation Date, and to respond fully and accurately to the questions posed by the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. <B><U>Final Wages,
Vacation Pay and Insurance Benefits</U></B>. Within ten (10)&nbsp;days of the Separation Date, you will receive pay, at your final base salary ($410,040 per annum), for all work performed for the Company from the end of the last payroll period
through the Separation Date, to the extent not previously paid. In addition, the Company will pay you at that time for all hours of vacation time you have earned, but not used, as of the Separation Date, determined in accordance with Company policy
and as reflected on Company records. These amounts will be paid to you whether or not you accept this Agreement. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. <B><U>Severance Benefits</U></B>. In consideration of your acceptance of this Agreement
and subject to your fully meeting your obligations under it, the Company will provide you the following severance benefits: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) A one-time lump sum severance payment in an amount equal to (i)&nbsp;$466,724.40 <U>plus</U> (ii)&nbsp;$12,500 to be used by you for
outplacement services <U>less</U> (iii)&nbsp;the Reimbursed Legal Expenses (as defined below) (collectively, the &#147;<U>Severance Payment</U>&#148;). The Severance Payment shall be paid on the 60th day following your Separation Date, provided that
prior to such time you have signed the release attached hereto as <U>Exhibit A</U> (the &#147;<U>Release</U>&#148;) and the applicable revocation period for such Release has expired. In the event that the Release is not signed and effective (with
the applicable revocation period having expired) by such 60th day following your Separation Date, the Severance Payment shall be forfeited and the Company shall have no obligation to pay them to you at any time in the future. The parties agree that
included in the Severance Payment are all amounts payable to you under the Company&#146;s annual incentive program, including any pro-rated amounts payable with respect to the 2013 fiscal year, and that you will not receive any further bonus under
the Company&#146;s annual incentive program other than amounts included in the Severance Payment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) Provided you are
eligible and elect in a timely manner to continue your participation and that of your eligible dependents in the Company&#146;s medical and dental benefit plans under the Consolidated Omnibus Budget Reconciliation Act of 1985
(&#147;<U>COBRA</U>&#148;), then, for the lesser of 18 months after the Separation Date or until you secure coverage from new employment, you shall receive a monthly cash payment from the Company equal to the cost of coverage under the medical and
dental benefit plans in which you were participating on the Separation Date, at the level at which you were participating (e.g. single or family coverage), less the amount of your contribution for such coverage. Such payments shall be subject to all
applicable taxes and withholding. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(c) Your separation of employment shall be treated as a termination without
&#147;cause&#148; pursuant to: (i)&nbsp;Section&nbsp;5(b) of your Inducement Stock Option Agreement dated April&nbsp;1, 2011 with Orthofix International N.V. (&#147;<U>Parent</U>&#148;); (ii)&nbsp;Section&nbsp;6(b) of your Non-Qualified Stock Option
Agreement dated February&nbsp;15, 2012 with Parent; (iii)&nbsp;Section&nbsp;6(a) of your Non-Qualified Stock Option Agreement dated June&nbsp;25, 2012 with Parent; and (iv)&nbsp;Section&nbsp;5(a) of your Restricted Stock Grant Agreement dated
July&nbsp;31, 2012 with Parent. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. <B><U>Tax Withholding</U>.</B> All payments made by the Company under this Agreement will
be reduced by all taxes and other amounts that the Company is required to withhold under applicable law and by all other deductions authorized by you. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">5. <B><U>Acknowledgement of Full Payment and Status of Benefits</U></B>. You acknowledge and agree that the payments provided under paragraphs 2 and 3 of this Agreement are in full and complete
satisfaction of any and all compensation or benefits due to you from the Company, whether for services provided or otherwise, through the Separation Date and that, except as expressly provided under this Agreement, no further compensation or
benefits of any kind are owed or will be paid to you. You will not continue to earn vacation or other paid time off after the Separation Date and, except as expressly provided in paragraph 3(b) of this Agreement, your participation in all employee
benefit plans and programs of the Company will end as of the Separation Date, in accordance with the terms of those plans and programs. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. <B><U>Survival</U></B>. You acknowledge and agree that, pursuant Section&nbsp;1.3 of the
Employment Agreement, Articles VI and VII of the Employment Agreement survive the termination or expiration of the Employment Agreement for any reason and that you will continue to comply with each of their provisions. Notwithstanding the foregoing,
the parties hereby agree that the twelve-month post-employment periods referenced in Sections 6.1 and 6.2 of the Employment Agreement are hereby amended to become six-month post-employment periods under such respective sections. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7. <B><U>Release of Claims</U></B>. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(a) The Company&#146;s obligation to pay or provide any benefits to you under this Agreement is expressly subject to the requirement that, no later than the 60th day following your Separation Date, you
have both previously executed the Release and the revocation period provided for the Release shall have expired without your having breached or revoked the Release. In the event that you do not timely sign the Release as contemplated by the prior
sentence, or sign and later revoke the Release, all of the Company&#146;s obligations to make payments and provide benefits under this Agreement will terminate in full, and you understand and agree that you will not be entitled to any severance
benefits in connection with the non-renewal of your Employment Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) The Company wants to be certain that this
Agreement will resolve any and all concerns that you might have and therefore requests that you carefully consider the terms of this Agreement, including the Release. This Agreement, which includes the Release, creates legally-binding obligations
and the Company therefore advises you to consult an attorney before you sign this Agreement. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8. <B><U>Miscellaneous.</U></B>
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) Following the Separation Date, you will no longer have access to our offices. If you need to come to the office, please
contact me in advance of coming so that we can discuss your request and make any appropriate arrangements. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) This letter
contains the entire agreement between you and the Company and supersedes all prior and contemporaneous agreements, communications and understandings, whether written or oral, with respect to your employment and its termination and all related
matters, excluding only those provisions of the Employment Agreement which, by their terms, are intended to continue in full force and effect. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by you and an expressly authorized representative of the Company. The captions
and headings in this Agreement are for convenience only and in no way define or describe the scope or content of any provision of this Agreement. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:8%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) In signing this Agreement, you give the Company assurance that you have had a full and
reasonable opportunity to consider its terms and to consult with an attorney if you wished to do so; that you have read and understood all of those terms; that your acceptance of this Agreement is freely and voluntarily given; and that, in signing
this Agreement, you have not relied on any promises or representations, express or implied, that are not set forth expressly in this Agreement. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(e) The Company shall pay on your behalf outside legal expenses (subject to the receipt of a customary invoice from your counsel) incurred by you in connection with the negotiation of this Agreement in an
amount up to $10,000 (the &#147;<U>Reimbursed Legal Expenses</U>&#148;) </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If the terms of this Agreement are acceptable to you,
please sign, date and return it to me, together with the Release, no later than twenty one (21)&nbsp;days from the date you receive it. You may revoke this Agreement, and the Release, at any time during the seven-day period immediately following the
date of your signing by notifying me in writing of your revocation within that period. If you do not so revoke this Agreement and the Release, then, on the eighth calendar day following the date of your signing (the &#147;<U>Effective
Date</U>&#148;), this Agreement and the Release shall take effect as legally-binding agreements between you and the Company on the basis set forth above. The enclosed copy of this letter, which you should also sign and date, is for your records.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Formalities aside, I want to take this opportunity to thank you for all of your efforts on behalf of the Company and to wish
you well in your future endeavors. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sincerely, </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Tonjia Oglesby </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Tonjia Oglesby </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vice President, Human Resources </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="20%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accepted and agreed:</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Signature:</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Vicente Trelles</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;Vicente Trelles</FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">5-9-13</FONT></TD></TR>
</TABLE>

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

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXHIBIT A </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><U>RELEASE</U></B> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In exchange for the consideration set forth in the Agreement to which this
Release is attached, by and among Orthofix Inc. (the &#147;<U>Company</U>&#148;) and myself, the respective terms of which are incorporated herein by reference, I, Vicente Trelles, am entering into this Release (this &#147;<U>Release</U>&#148;) for
good and valuable consideration to which I am not otherwise entitled, and agree as follows: </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. <U>GENERAL RELEASE</U>.
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(a) On behalf of myself, my heirs, executors, successors and assigns, I irrevocably and unconditionally release, waive and
forever discharge the Company, its members, divisions, subsidiaries, affiliates and related companies, including the Company Group (as defined below), or any member of the Company Group, and their present and former agents, employees, officers,
directors, attorneys, stockholders, plan fiduciaries, successors and assigns (collectively, the &#147;<U>Releasees</U>&#148;), from any and all claims, demands, actions, causes of action, costs, fees and all liability whatsoever, whether known or
unknown, fixed or contingent, suspected or unsuspected (collectively, &#147;<U>Claims</U>&#148;), which I had, have, or may have against Releasees relating to or arising out of my employment by or separation from the Company and its direct and
indirect subsidiaries and parents, including, without limitation, Orthofix International N.V. (collectively, the &#147;<U>Company Group</U>&#148;), up to and including the date of execution of this Release, other than my right to receive the
severance payments and other benefits and consideration described in the Agreement. This Release includes, without limitation: (i)&nbsp;claims at law or equity or sounding in contract (express or implied) or tort; (ii)&nbsp;claims arising under any
federal, state or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran or military status, sexual orientation or any other form of discrimination, harassment or retaliation (including,
without limitation, the Civil Rights Act of 1866, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Americans with Disabilities Act, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, the
Rehabilitation Act, the Family and Medical Leave Act, the Sarbanes-Oxley Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Unruh Civil Rights Act, or any other federal, state or
local laws, regulations and ordinances governing discrimination, harassment or retaliation in employment; and the right to bring demands, complaints, causes of action, and claims under any other federal, state, local or common law, statute,
regulation or decision); (iii)&nbsp;claims arising under the Employee Retirement Income Security Act; or (iv)&nbsp;any other statutory or common law claims related to my employment with the Company or my separation from the Company. I further
covenant not to sue any of the Releasees with respect to any matters released hereby. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(b) This release does not include a
release or waiver of any rights or claims I have, or might subsequently have in my capacity as a stockholder of Orthofix International N.V. I am also not waiving, and nothing in this Release is intended to waive, any right to coverage under any
directors and officers insurance coverage, if any, provided by the Company, the Company Group, or any member of the Company Group, or any right to indemnification or </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
expense advancement under any indemnification agreement, or any applicable Company Group articles of incorporation, bylaws or similar organizational document, if any, in each case, to which I
might be entitled. I am also not waiving, and nothing in this Release is intended to waive any claims I may have for unemployment insurance or workers&#146; compensation benefits, state disability compensation, claims for any vested benefits under
any Company-sponsored benefit plan, or any claims that, as a matter of law, may not be released by private agreement. I am also not waiving, and nothing in this Release is intended to waive, any claims relating to the validity or enforceability of
this Release; or any non-waivable right to file a charge with the United States Equal Employment Opportunity Commission (the &#147;<U>EEOC</U>&#148;) or the National Labor Relations Board (&#147;<U>NLRB</U>&#148;); provided, however, that I shall
not be entitled to recover any monetary damages or to non-monetary relief if the EEOC or NLRB were to pursue any claims relating to my employment with the Company. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">EXCEPT AS OUTLINED ABOVE, THIS MEANS THAT, BY SIGNING THIS RELEASE, I WILL WAIVE ANY RIGHT I MAY HAVE HAD TO PURSUE OR BRING A LAWSUIT OR MAKE ANY LEGAL CLAIM AGAINST THE COMPANY OR THE RELEASEES THAT IN
ANY WAY ARISES FROM OR RELATES TO MY EMPLOYMENT OR THE TERMINATION OF THAT EMPLOYMENT, UP TO AND INCLUDING THE DATE OF THE EXECUTION OF THIS RELEASE. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(c) I acknowledge that different or additional facts may be discovered in addition to what I now know or believe to be true with respect to the matters herein released, and I agree that this Release shall
be and remain in effect in all respects as a complete and final release of the matters released, notwithstanding any such different or additional facts. I represent and warrant that I have not previously filed or joined in any claims against the
Company or any of the Releasees, that I have not given or sold any portion of any claims released herein to anyone else, and that I will indemnify and hold harmless the Releasees from all liabilities, claims, demands, costs, expenses and/or
attorneys&#146; fees incurred as a result of any such assignment or transfer. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d) I acknowledge that I have been given an
opportunity of twenty-one (21) days to consider this Release, but I may voluntarily waive that period by signing it earlier, and I acknowledge that I am being advised herein to consult with legal counsel of my own choosing prior to executing this
Release. I understand that for a period ending at the end of the seventh calendar day following my execution of this Release (&#147;<U>Revocation Period</U>&#148;), I shall have the right to revoke this Release by delivering a written notice of
revocation to Jeffrey Schumm, Orthofix Inc., Senior Vice President and General Counsel, Orthofix Inc., 3451 Plano Parkway, Lewisville, TX 75056 no later than the end of the seventh calendar day after I sign this Release. I understand and agree that
this Release will not be effective and enforceable until after the Revocation Period expires without revocation, and if I elect to exercise this revocation right, this Release shall be voided in its entirety, and the Company shall be relieved of all
obligations under this Release and all obligations under the Agreement as provided therein. This Release shall be effective on the eighth calendar day after it is executed by me (&#147;<U>Effective Date</U>&#148;) provided it has not been previously
revoked as provided herein. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. I agree not to disclose, publish or use any confidential information of the Company
Group, except as the Company directs or authorizes unless required by law to do so. I also agree that I will take all reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of confidential information of the Company
Group, and I will immediately notify the Company in the event of any unauthorized use or disclosure of the Company Group&#146;s confidential information of which I become aware. I agree that the obligations set forth in this paragraph do not
supersede, but are in addition to, any previous confidentiality obligations agreed to by me and any member of the Company Group. The confidentiality provisions set forth in this Release are contractual and their terms are material to this Release.
In any proceeding brought to enforce or seek damages for the alleged breach of the confidentiality provisions of this Release, the party successfully prosecuting or defending such action shall be entitled to recover from the opposing party its
reasonable expenses, including attorneys&#146; fees. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. I agree to hold harmless the Releasees, at my sole cost and expense,
from and against any claims arising from my breach of this Release (including breaches of my post separation obligations under the Agreement). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">4. I agree that I have not made and shall not make, publicly or privately, any critical or negative comments to the media or any significant critical or negative comments to any other person (including
future or prospective employees) regarding any of the Releasees. The Company and Parent further agree that they shall not make, and shall commercially reasonable efforts to prevent any of their respective officers or directors from making, any
critical or negative comments to the media or other persons about me, provided that the foregoing shall in no way limit Parent&#146;s right to make any public statements or disclosures it believes, after consultation with counsel, are required or
appropriate pursuant to applicable federal securities laws. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. I understand it is my choice whether or not to enter into this
Release and that my decision to do so is voluntary and is made knowingly. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. I represent and acknowledge that in executing
this Release, I do not rely, and have not relied, on any communications, statements, inducements or representations, oral or written, by any of the Releasees, except as expressly contained in this Release. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">7. I also represent and warrant that, on or before my last date of employment, I will have delivered to the Company (a)&nbsp;all
documents and materials containing confidential information (including without limitation any &#147;soft&#148; copies or computerized or electronic versions thereof) or otherwise containing information relating to the business and affairs of any
member of the Company Group (whether or not confidential), and (b)&nbsp;all other documents, materials and other property belonging to any member of the Company Group that are or were in my possession or under my control. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">8. The Company and I agree that this Release shall be binding on us and our heirs, administrators, representatives, executors, successors
and assigns, and shall inure to the benefit of our heirs, administrators, representatives, executors, successors and assigns. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">9. This Release shall be interpreted under and governed by the laws of the State of Texas.
The Company and I agree that the language of this Release shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against either party. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">10. The Company and I agree that should that any provision of this Release be determined to be illegal or invalid, the validity of the
remaining provisions will not be affected and any illegal or invalid provision will be deemed not to be a part of this Release. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">11. The Company and I agree that this Release may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall be deemed one and the same instrument. </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Please read carefully as this document includes a
General Release of claims. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">As evidenced by my signature below, I certify that I have read the above Release and agree to its terms.
</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Vicente Trelles</FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Vicente Trelles</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">5-9-13</FONT></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accepted and Acknowledged:</FONT></P></TD></TR>
<TR>
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ORTHOFIX, INC.</FONT></P></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></P></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Jeffrey M. Schumm</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Corp. Secretary</FONT></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date:</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;9, 2013</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g538924g54f35.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g538924g54f35.jpg
M_]C_X0N417AI9@``34T`*@````@`!P$2``,````!``$```$:``4````!````
M8@$;``4````!````:@$H``,````!``(```$Q``(````>````<@$R``(````4
M````D(=I``0````!````I````-``+<;````G$``MQL```"<0061O8F4@4&AO
M=&]S:&]P($-3-B`H5VEN9&]W<RD`,C`Q,SHP-3HQ-"`Q-#HQ,3HU-@```Z`!
M``,````!``$``*`"``0````!````B:`#``0````!````-``````````&`0,`
M`P````$`!@```1H`!0````$```$>`1L`!0````$```$F`2@``P````$``@``
M`@$`!`````$```$N`@(`!`````$```I>`````````$@````!````2`````'_
MV/_M``Q!9&]B95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)
M#!$+"@L1%0\,#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`-`")`P$B``(1
M`0,1`?_=``0`"?_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$`
M`04!`0$!`0$``````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!
M``(1`P0A$C$%05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U
M%J*R@R9$DU1D1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?56
M9G:&EJ:VQM;F]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#
M(3$2!$%187$B$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F
M-<+21)-4HQ=D154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:F
MML;6YO8G-T=79W>'EZ>WQ__:``P#`0`"$0,1`#\`]522224I))))2DDDDE*5
M#J?56X%9<W'OR[0)%..PO/\`:=]!B)U+J.)TS$?EYC]E+($@$DDZ-8UH_.<N
M(ZC]?,[*R*Z\)OV/$]1F]Y@VN9N&[^13[?W5)BQ2GJ!<1N=@LR9!$43J=NK5
MZA]=^OY%[FU.&`QICT6M!>/^,?:W=N_L*QTCZ^=1QKFLZH?M6,2`ZP-#;&#]
M_P!GMM;_`"5TOUH^KE'6,1UU+0W/J;NIM'YX&OHV?OL?^;^XO,]>X(/!!Y!\
M%;Q##EA0@(UO^\/\)K9#DQROB)O;L^T56UW5LMJ<'UV`.8X:@@ZM<%-<K_B]
MS7W])MQ'DG['9M9/[CQZC&_V7;UU2I9(&$Y1/0MJ$N*(EW"DDDDU<I))))2D
MDDDE/__0]522224I))))2DDDDE.#]=L5^3]7<C8)=06W0/!AE_\`T%YC`<(/
M!7M3V->QS'@.:X%KFG@@\A>8==^JV?TS-+,:FS(P[G?JSJVEQ$\46[?HO;^:
M_P#/5SE,@`,":_2'[6MS,"2)`7T+V/U/ZY7U/IK:+'#[9B`5W,/):/;7>W^2
M]O\`TUPOUDH;C]?SJF"&>KO`\-X%G_5.6]T/ZG9N(]O5>I91Z<V@;]E1'J;1
MJYMUGN8UCOSJ_P!(@U_5CJGUAZED=2R`<#$R;"YAL'Z4L^C7LI_,]C?\*C`X
MX99R$O17_._=C^\B8G/'$&/JO\.[H_XN*+&X>9DD0RZUK&>?IM]__2>NQ5?!
MPL?`Q*L3%;LII;M8._FYW\IRL*KEGQSE+N6Q"/#$1[*2223%RDDDDE*22224
M_P#_T>P^L_U[Z3]7;FXEC+,S/>`YN+0`7`.T9ZKW>UGJ?F,_G%GW?7WKN-CG
M+ROJMFU8C1N?9O:7-;^\ZO9N:N7S+:.F?XVCD]6BO'=<+&66?1#7U>EC7[C_
M`(.NWV?\$O4\GJ'3\?$=E9.14S&:W<^USAMVQX_G)*<OH7USZ'US`OSL>WT6
M8C=V77=[75"-^]_TFNJVM_G&+&K_`,9]&=D65=%Z/G=395JZVMH:(_>V^YS=
MW_"+SWI#7OPOK3F8S2S"^R/9Q`'JY#'X]7\EWI;O:NG^HV!]=+/JZ+N@Y^)C
M8K[;2*;JMSR\':XOMVN^EM]J2GH,/_&3BOZBWIG4NFY72\NW2EMX$.<?YIG9
MS?5=[*W[-F]#R_\`&+U#!QW9.9]6L_'H9&^VS:UHD[1+G#]Y<Q]7:[?K-]<0
M/K9EOKZITUP]'!V-K#S438ZH.9[6^G9^FV?]J*_TB[3_`!F?^(S.^-7_`)\K
M24TL3_&+GYV.,G"^K>?DT.D-LKVN:2##H<T*]A?7FG*^M/\`S;.%95<&DNN<
MYI`(K;D.86?2W>[TT/\`Q7_^([%_XR[_`,^/7&W8_4LG_&GFT=+RA@YKGO->
M0Y@L#0*6&QOIN_?:DI]$^M?UAI^KO2OVC=CNRF>JRKTFD-,NF'>_]W:L_,_Q
MA]&P.B875<MCVV=0K]6C"9#K([N>[V,96W_2.7*?7WI7ULP^@>KUGK+.H8OK
MUM]!M#:SO.[99ZC?W/W5S_4"W%S/JMFYP+^G_8\0ZB6EE5CCDL_L;O4>Q)3Z
M"SZ]]?LH&55]5<UV*6[@_>`XMYW-J]/>M'ZK_7GI'UD+Z<</QLRINZS%O`#M
MH.USZW-EEC6N^G^XMNO/P;,893,FIV.1O%P>W9MYW;YVKR#"N9F_7SJW4.E:
MXE=>;<;6#V^GZ+JG6?U;LC^;24]I;_C-P;<^S`Z+T[+ZQ942'OQVC9[3M+F$
MR[T]W^$VJSB_7'K-^530_P"K.?2RU[6.N?&U@<=KK'Z?19])<3_BUZ?]9LGI
MV79T+J-/3V"QC;VVTBUSW!@<QV]WT6M:_P"BO0^A8'ULQLM]G6^ITYV,:]M=
M55(J(?(._</Y&Y)3G=&^O_[;MZC1@=-L?D=.87BHV-'JP\U;*W1[7^WV[E8^
MJ_U[Z;]87Y&.:W8&;C27XUY`=L;H^QKM/YIW\\S_``:Y#_%*8^L763X5F?\`
MMZQ4OK97C?6KZTV5_5/%=;E4UO\`MV74[;7:6C9I^9_P'J_]JOYM)3VW2_K_
M`$=:Z[9TKH^#;ET4G]+U#<UM36<&W4;G-W?S/^G75RN%_P`5?5NBOZ6[I%%(
MPNIXY)RZG_3M</:[(]WO]O\`-OJ_[3?S:[J0DI__TNS^N'_,S[,S_G3Z&S7T
M/4GU?Y7H>C^L?UMBX:K_`,9KU&;OM'IS[?4^T^DO,$DE/T(__F1_S0R/1]'_
M`)N[?UC[-,?2;]/T/T_J[_3W?X56_JC_`,W_`-BL_P";L_L[U+-D[_I[OTO]
M(_2?37S@DDI]X^LO_,+_`)P8_P"U=W[<_1^A]G];U9W?JV[['_A?]'ZGO]/_
M`(-;?UJ_8?[#O_YP3^S/9Z\;Y^DWT_YC])_.;?HKYL224_2/U3_8/[$J_P";
MT_LW<_TIW_2W'U?Y_P#2?SBR\7_F/_SVM]"?^<LO]3^=B?3'J?2_5OYA>!))
M*?HWZX_\W/V/_P!DL_L_U6<>I_.:^E_1_P!(JMW_`#&_YJ8GVWT/V#L'V/[3
MNF/S?2]3]9]7^I^E7SXDDI]./_C,[S'VCTIUC[3Z:[?H7_,C]AYG[#]#]G>F
M_P"V^C/J;=KM_K[OUK^;W[=__6U\]))*?H7ZC_\`-'[%D?\`-6?LWJCUY]3^
M<VMC^D^_^;72+Y6224^U]/\`_&V]#J_[.];9Z?\`E7TOM.[TO4.__A/3]3=Z
MOV?_``7_``*W/J5_S0^P7?\`-79Z'J?K$;]^^/9ZOK_IMFW^9_P?^C7SPDDI
M]TZA_P"-[_SM;NW?\XO5;'V7UMWJQ^=]F_0;_3_I&_\`Z^NV7RJDDI__V?_M
M$[I0:&]T;W-H;W`@,RXP`#A"24T$!```````#QP!6@`#&R5''`(```(````X
M0DE-!"4``````!#-S_I]J,>^"05P=JZO!<-..$))300Z``````#E````$```
M``$```````MP<FEN=$]U='!U=`````4`````4'-T4V)O;VP!`````$EN=&5E
M;G5M`````$EN=&4`````0VQR;0````]P<FEN=%-I>'1E96Y":71B;V]L````
M``MP<FEN=&5R3F%M951%6%0````!```````/<')I;G10<F]O9E-E='5P3V)J
M8P````P`4`!R`&\`;P!F`"``4P!E`'0`=0!P```````*<')O;V93971U<```
M``$`````0FQT;F5N=6T````,8G5I;'1I;E!R;V]F````"7!R;V]F0TU92P`X
M0DE-!#L``````BT````0`````0``````$G!R:6YT3W5T<'5T3W!T:6]N<P``
M`!<`````0W!T;F)O;VP``````$-L8G)B;V]L``````!29W--8F]O;```````
M0W)N0V)O;VP``````$-N=$-B;V]L``````!,8FQS8F]O;```````3F=T=F)O
M;VP``````$5M;$1B;V]L``````!);G1R8F]O;```````0F-K9T]B:F,````!
M````````4D="0P````,`````4F0@(&1O=6)`;^````````````!'<FX@9&]U
M8D!OX````````````$)L("!D;W5B0&_@````````````0G)D5%5N=$8C4FQT
M````````````````0FQD(%5N=$8C4FQT````````````````4G-L=%5N=$8C
M4'AL0'+````````````*=F5C=&]R1&%T86)O;VP!`````%!G4'-E;G5M````
M`%!G4',`````4&=00P````!,969T56YT1B-2;'0```````````````!4;W`@
M56YT1B-2;'0```````````````!38VP@56YT1B-0<F-`60```````````!!C
M<F]P5VAE;E!R:6YT:6YG8F]O;``````.8W)O<%)E8W1";W1T;VUL;VYG````
M``````QC<F]P4F5C=$QE9G1L;VYG``````````UC<F]P4F5C=%)I9VAT;&]N
M9P`````````+8W)O<%)E8W14;W!L;VYG```````X0DE-`^T``````!`!+```
M``$``@$L`````0`".$))300F```````.`````````````#^````X0DE-!`T`
M``````0```!X.$))3009```````$````'CA"24T#\P``````"0``````````
M`0`X0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF
M9@`&```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!
M`#4````!`"T````&```````!.$))30/X``````!P``#_________________
M____________`^@`````_____________________________P/H`````/__
M__________________________\#Z`````#_________________________
M____`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X`````
M``0`````.$))300:``````.7````!@``````````````-````(D````Q`%0`
M<@!E`&P`;`!E`',`(`!,`&4`=`!T`&4`<@`@`$$`9P!R`&4`90!M`&4`;@!T
M`"``*`!#`&P`90!A`&X`(`!O`&8`(``U`%\`.0!?`#$`,P`I`"``9`!O`&,`
M>``M`#$````!``````````````````````````$``````````````(D````T
M``````````````````````$`````````````````````````$`````$`````
M``!N=6QL`````@````9B;W5N9'-/8FIC`````0```````%)C=#$````$````
M`%1O<"!L;VYG``````````!,969T;&]N9P``````````0G1O;6QO;F<````T
M`````%)G:'1L;VYG````B0````9S;&EC97-6;$QS`````4]B:F,````!````
M```%<VQI8V4````2````!W-L:6-E241L;VYG``````````=G<F]U<$E$;&]N
M9P`````````&;W)I9VEN96YU;0````Q%4VQI8V5/<FEG:6X````-875T;T=E
M;F5R871E9`````!4>7!E96YU;0````I%4VQI8V54>7!E`````$EM9R`````&
M8F]U;F1S3V)J8P````$```````!28W0Q````!`````!4;W`@;&]N9P``````
M````3&5F=&QO;F<``````````$)T;VUL;VYG````-`````!29VAT;&]N9P``
M`(D````#=7)L5$585`````$```````!N=6QL5$585`````$```````!-<V=E
M5$585`````$```````9A;'1486=415A4`````0``````#F-E;&Q497AT27-(
M5$U,8F]O;`$````(8V5L;%1E>'1415A4`````0``````"6AO<GI!;&EG;F5N
M=6T````/15-L:6-E2&]R>D%L:6=N````!V1E9F%U;'0````)=F5R=$%L:6=N
M96YU;0````]%4VQI8V5697)T06QI9VX````'9&5F875L=`````MB9T-O;&]R
M5'EP965N=6T````115-L:6-E0D=#;VQO<E1Y<&4`````3F]N90````ET;W!/
M=71S971L;VYG``````````IL969T3W5T<V5T;&]N9P`````````,8F]T=&]M
M3W5T<V5T;&]N9P`````````+<FEG:'1/=71S971L;VYG```````X0DE-!"@`
M``````P````"/_`````````X0DE-!!0```````0````".$))300,``````IZ
M`````0```(D````T```!G```4[````I>`!@``?_8_^T`#$%D;V)E7T--``'_
M[@`.061O8F4`9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5
M$Q,8$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.
M#1`.#A`4#@X.%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,#`S_P``1"``T`(D#`2(``A$!`Q$!_]T`!``)_\0!/P``
M`04!`0$!`0$``````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!
M``(#!`4&!P@)"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!
M,@84D:&Q0B,D%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?2
M5>)E\K.$P]-UX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'
MEZ>WQ]?G]Q$``@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12A
ML4(CP5+1\#,D8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+R
MLX3#TW7C\T:4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'
M_]H`#`,!``(1`Q$`/P#U5))))2DDDDE*22224I4.I]5;@5ES<>_+M`D4X["\
M_P!IWT&(G4NHXG3,1^7F/V4L@2`223HUC6C\YRXCJ/U\SLK(KKPF_8\3U&;W
MF#:YFX;OY%/M_=4F+%*>H%Q&YV"S)D$11.IVZM7J'UWZ_D7N;4X8#&F/1:T%
MX_XQ]K=V[^PK'2/KYU'&N:SJA^U8Q(#K`T-L8/W_`&>VUO\`)72_6CZN4=8Q
M'74M#<^INZFT?G@:^C9^^Q_YO[B\SU[@@\$'D'P5O$,.6%"`C6_[P_PFMD.3
M'*^(F]NS[15;7=6RVIP?78`YCAJ"#JUP4URO^+W-??TFW$>2?L=FUD_N/'J,
M;_9=O75*ED@83E$]"VH2XHB7<*22235RDDDDE*22224__]#U5))))2DDDDE*
M22224X/UVQ7Y/U=R-@EU!;=`\&&7_P#07F,!P@\%>U/8U[',>`YK@6N:>"#R
M%YAUWZK9_3,TLQJ;,C#N=^K.K:7$3Q1;M^B]OYK_`,]7.4R``P)K](?M:W,P
M)(D!?0O8_4_KE?4^FMHL</MF(!7<P\EH]M=[?Y+V_P#37"_62AN/U_.J8(9Z
MN\#PW@6?]4Y;W0_J=FXCV]5ZEE'IS:!OV5$>IM&KFW6>YC6._.K_`$B#7]6.
MJ?6'J61U+(!P,3)L+F&P?I2SZ->RG\SV-_PJ,#CAEG(2]%?\[]V/[R)B<\<0
M8^J_P[NC_BXHL;AYF21#+K6L9Y^FWW_])Z[%5\'"Q\#$JQ,5NRFENU@[^;G?
MRG*PJN6?'.4NY;$(\,1'LI))),7*22224I))))3_`/_1[#ZS_7OI/U=N;B6,
MLS,]X#FXM`!<`[1GJO=[6>I^8S^<6?=]?>NXV.<O*^JV;5B-&Y]F]I<UO[SJ
M]FYJY?,MHZ9_C:.3U:*\=UPL999]$-?5Z6-?N/\`@Z[?9_P2]3R>H=/Q\1V5
MDY%3,9K=S[7.&W;'C^<DIR^A?7/H?7,"_.Q[?19B-W9==WM=4(W[W_2:ZK:W
M^<8L:O\`QGT9V195T7H^=U-E6KK:VAHC][;[G-W?\(O/>D->_"^M.9C-+,+[
M(]G$`>KD,?CU?R7>EN]JZ?ZC8'UTL^KHNZ#GXF-BOMM(INJW/+P=KB^W:[Z6
MWVI*>@P_\9.*_J+>F=2Z;E=+R[=*6W@0YQ_FF=G-]5WLK?LV;T/+_P`8O4,'
M'=DYGU:S\>AD;[;-K6B3M$N</WES'U=KM^LWUQ`^MF6^OJG37#T<'8VL/-1-
MCJ@YGM;Z=GZ;9_VHK_2+M/\`&9_XC,[XU?\`GRM)32Q/\8N?G8XR<+ZMY^30
MZ0VRO:YI(,.AS0KV%]>:<KZT_P#-LX5E5P:2ZYSFD`BMN0YA9]+=[O30_P#%
M?_XCL7_C+O\`SX]<;=C]2R?\:>;1TO*&#FN>\UY#F"P-`I8;&^F[]]J2GT3Z
MU_6&GZN]*_:-V.[*9ZK*O2:0TRZ8=[_W=JS\S_&'T;`Z)A=5RV/;9U"OU:,)
MD.LCNY[O8QE;?](Y<I]?>E?6S#Z!ZO6>LLZAB^O6WT&T-K.\[MEGJ-_<_=7/
M]0+<7,^JV;G`OZ?]CQ#J):656..2S^QN]1[$E/H+/KWU^R@957U5S78I;N#]
MX#BWG<VKT]ZT?JO]>>D?60OIQP_&S*F[K,6\`.V@[7/K<V66-:[Z?[BVZ\_!
MLQAE,R:G8Y&\7![=FWG=OG:O(,*YF;]?.K=0Z5KB5UYMQM8/;Z?HNJ=9_5NR
M/YM)3VEO^,W!MS[,#HO3LOK%E1(>_':-GM.TN83+O3W?X3:K.+]<>LWY5-#_
M`*LY]++7M8ZY\;6!QVNL?I]%GTEQ/^+7I_UFR>G9=G0NHT]/8+&-O;;2+7/<
M&!S';W?1:UK_`**]#Z%@?6S&RWV=;ZG3G8QKVUU54BHA\@[]P_D;DE.=T;Z_
M_MNWJ-&!TVQ^1TYA>*C8T>K#S5LK='M?[?;N5CZK_7OIOUA?D8YK=@9N-)?C
M7D!VQNC[&NT_FG?SS/\`!KD/\4ICZQ=9/A69_P"WK%2^ME>-]:OK397]4\5U
MN536_P"W9=3MM=I:-FGYG_`>K_VJ_FTE/;=+^O\`1UKKMG2NCX-N712?TO4-
MS6U-9P;=1N<W=_,_Z==7*X7_`!5]6Z*_I;ND44C"ZGCDG+J?].UP]KLCW>_V
M_P`V^K_M-_-KNI"2G__2[/ZX?\S/LS/^=/H;-?0]2?5_E>AZ/ZQ_6V+AJO\`
MQFO49N^T>G/M]3[3Z2\P224_0C_^9'_-#(]'T?\`F[M_6/LTQ])OT_0_3^KO
M]/=_A5;^J/\`S?\`V*S_`)NS^SO4LV3O^GN_2_TC])]-?."22GWCZR_\PO\`
MG!C_`+5W?MS]'Z'V?UO5G=^K;OL?^%_T?J>_T_\`@UM_6K]A_L.__G!/[,]G
MKQOGZ3?3_F/TG\YM^BOFQ))3](_5/]@_L2K_`)O3^S=S_2G?]+<?5_G_`-)_
M.++Q?^8__/:WT)_YRR_U/YV)],>I]+]6_F%X$DDI^C?KC_S<_8__`&2S^S_5
M9QZG\YKZ7]'_`$BJW?\`,;_FIB?;?0_8.P?8_M.Z8_-]+U/UGU?ZGZ5?/B22
MGTX_^,SO,?:/2G6/M/IKM^A?\R/V'F?L/T/V=Z;_`+;Z,^IMVNW^ON_6OYO?
MMW_];7STDDI^A?J/_P`T?L61_P`U9^S>J/7GU/YS:V/Z3[_YM=(OE9))3[7T
M_P#\;;T.K_L[UMGI_P"5?2^T[O2]0[_^$]/U-WJ_9_\`!?\``K<^I7_-#[!=
M_P`U=GH>I^L1OW[X]GJ^O^FV;?YG_!_Z-?/"22GW3J'_`(WO_.UN[=_SB]5L
M?9?6W>K'YWV;]!O]/^D;_P#KZ[9?*J22G__9.$))300A``````!5`````0$`
M```/`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B
M`&4`(`!0`&@`;P!T`&\`<P!H`&\`<``@`$,`4P`V`````0`X0DE-!`8`````
M``<`"`````$!`/_A#@MH='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O`#P_
M>'!A8VME="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY48WIK
M8SED(C\^(#QX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z
M>&UP=&L](D%D;V)E(%A-4"!#;W)E(#4N,RUC,#$Q(#8V+C$T-38V,2P@,C`Q
M,B\P,B\P-BTQ-#HU-CHR-R`@("`@("`@(CX@/')D9CI21$8@>&UL;G,Z<F1F
M/2)H='1P.B\O=W=W+G<S+F]R9R\Q.3DY+S`R+S(R+7)D9BUS>6YT87@M;G,C
M(CX@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(@>&UL;G,Z>&UP/2)H
M='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O(B!X;6QN<SIP9&8](FAT='`Z
M+R]N<RYA9&]B92YC;VTO<&1F+S$N,R\B('AM;&YS.GAM<$U-/2)H='1P.B\O
M;G,N861O8F4N8V]M+WAA<"\Q+C`O;6TO(B!X;6QN<SIS=$5V=#TB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+W-4>7!E+U)E<V]U<F-E179E;G0C(B!X
M;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N,2\B('AM
M;&YS.G!H;W1O<VAO<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]P:&]T;W-H;W`O
M,2XP+R(@>&UP.D-R96%T941A=&4](C(P,3,M,#4M,314,30Z,3`Z,S(B('AM
M<#I#<F5A=&]R5&]O;#TB36EC<F]S;V9TPJX@3V9F:6-E(%=O<F0@,C`P-R(@
M>&UP.DUO9&EF>41A=&4](C(P,3,M,#4M,314,30Z,3$Z-38K,#4Z,S`B('AM
M<#I-971A9&%T841A=&4](C(P,3,M,#4M,314,30Z,3$Z-38K,#4Z,S`B('!D
M9CI0<F]D=6-E<CTB36EC<F]S;V9TPJX@3V9F:6-E(%=O<F0@,C`P-R(@>&UP
M34TZ1&]C=6UE;G1)1#TB>&UP+F1I9#HY-3@X13!$0C4U0D-%,C$Q038T0T)!
M.#(X1$,V1C`S-B(@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#HY-3@X13!$
M0C4U0D-%,C$Q038T0T)!.#(X1$,V1C`S-B(@>&UP34TZ3W)I9VEN86Q$;V-U
M;65N=$E$/2)X;7`N9&ED.CDU.#A%,$1"-35"0T4R,3%!-C1#0D$X,CA$0S9&
M,#,V(B!D8SIF;W)M870](FEM86=E+VIP96<B('!H;W1O<VAO<#I#;VQO<DUO
M9&4](C,B('!H;W1O<VAO<#I)0T-0<F]F:6QE/2)S4D="($E%0S8Q.38V+3(N
M,2(^(#QX;7!-33I(:7-T;W)Y/B`\<F1F.E-E<3X@/')D9CIL:2!S=$5V=#IA
M8W1I;VX](F1E<FEV960B('-T179T.G!A<F%M971E<G,](F-O;G9E<G1E9"!F
M<F]M(&%P<&QI8V%T:6]N+W9N9"YA9&]B92YP:&]T;W-H;W`@=&\@:6UA9V4O
M:G!E9R(O/B`\<F1F.FQI('-T179T.F%C=&EO;CTB<V%V960B('-T179T.FEN
M<W1A;F-E240](GAM<"YI:60Z.34X.$4P1$(U-4)#13(Q,4$V-$-"03@R.$1#
M-D8P,S8B('-T179T.G=H96X](C(P,3,M,#4M,314,30Z,3$Z-38K,#4Z,S`B
M('-T179T.G-O9G1W87)E06=E;G0](D%D;V)E(%!H;W1O<VAO<"!#4S8@*%=I
M;F1O=W,I(B!S=$5V=#IC:&%N9V5D/2(O(B\^(#PO<F1F.E-E<3X@/"]X;7!-
M33I(:7-T;W)Y/B`\>&UP34TZ1&5R:79E9$9R;VT@<F1F.G!A<G-E5'EP93TB
M4F5S;W5R8V4B+SX@/"]R9&8Z1&5S8W)I<'1I;VX^(#PO<F1F.E)$1CX@/"]X
M.GAM<&UE=&$^("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@/#]X<&%C:V5T(&5N
M9#TB=R(_/O_B#%A)0T-?4%)/1DE,10`!`0``#$A,:6YO`A```&UN=')21T(@
M6%E:(`?.``(`"0`&`#$``&%C<W!-4T94`````$E%0R!S4D="````````````
M```!``#VU@`!`````-,M2%`@(```````````````````````````````````
M````````````````````````````$6-P<G0```%0````,V1E<V,```&$````
M;'=T<'0```'P````%&)K<'0```($````%')865H```(8````%&=865H```(L
M````%&)865H```)`````%&1M;F0```)4````<&1M9&0```+$````B'9U960`
M``-,````AG9I97<```/4````)&QU;6D```/X````%&UE87,```0,````)'1E
M8V@```0P````#')44D,```0\```(#&=44D,```0\```(#&)44D,```0\```(
M#'1E>'0`````0V]P>7)I9VAT("AC*2`Q.3DX($AE=VQE='0M4&%C:V%R9"!#
M;VUP86YY``!D97-C`````````!)S4D="($E%0S8Q.38V+3(N,0``````````
M````$G-21T(@245#-C$Y-C8M,BXQ````````````````````````````````
M``````````````````````````````````!865H@````````\U$``0````$6
MS%A96B``````````````````````6%E:(````````&^B```X]0```Y!865H@
M````````8ID``+>%```8VEA96B`````````DH```#X0``+;/9&5S8P``````
M```6245#(&AT='`Z+R]W=W<N:65C+F-H```````````````6245#(&AT='`Z
M+R]W=W<N:65C+F-H````````````````````````````````````````````
M`````````````````&1E<V,`````````+DE%0R`V,3DV-BTR+C$@1&5F875L
M="!21T(@8V]L;W5R('-P86-E("T@<U)'0@``````````````+DE%0R`V,3DV
M-BTR+C$@1&5F875L="!21T(@8V]L;W5R('-P86-E("T@<U)'0@``````````
M``````````````````!D97-C`````````"Q2969E<F5N8V4@5FEE=VEN9R!#
M;VYD:71I;VX@:6X@245#-C$Y-C8M,BXQ```````````````L4F5F97)E;F-E
M(%9I97=I;F<@0V]N9&ET:6]N(&EN($E%0S8Q.38V+3(N,0``````````````
M````````````````````=FEE=P``````$Z3^`!1?+@`0SQ0``^W,``03"P`#
M7)X````!6%E:(```````3`E6`%````!7'^=M96%S``````````$`````````
M```````````````"CP````)S:6<@`````$-25"!C=7)V````````!``````%
M``H`#P`4`!D`'@`C`"@`+0`R`#<`.P!``$4`2@!/`%0`60!>`&,`:`!M`'(`
M=P!\`($`A@"+`)``E0":`)\`I`"I`*X`L@"W`+P`P0#&`,L`T`#5`-L`X`#E
M`.L`\`#V`/L!`0$'`0T!$P$9`1\!)0$K`3(!.`$^`44!3`%2`5D!8`%G`6X!
M=0%\`8,!BP&2`9H!H0&I`;$!N0'!`<D!T0'9`>$!Z0'R`?H"`P(,`A0"'0(F
M`B\".`)!`DL"5`)=`F<"<0)Z`H0"C@*8`J("K`*V`L$"RP+5`N`"ZP+U`P`#
M"P,6`R$#+0,X`T,#3P-:`V8#<@-^`XH#E@.B`ZX#N@/'`],#X`/L`_D$!@03
M!"`$+00[!$@$501C!'$$?@2,!)H$J`2V!,0$TP3A!/`$_@4-!1P%*P4Z!4D%
M6`5G!7<%A@66!:8%M07%!=4%Y07V!@8&%@8G!C<&2`99!FH&>P:,!IT&KP;`
M!M$&XP;U!P<'&0<K!ST'3P=A!W0'A@>9!ZP'OP?2!^4'^`@+"!\(,@A&"%H(
M;@B"")8(J@B^"-((YPC["1`))0DZ"4\)9`EY"8\)I`FZ"<\)Y0G["A$*)PH]
M"E0*:@J!"I@*K@K%"MP*\PL+"R(+.0M1"VD+@`N8"[`+R`OA"_D,$@PJ#$,,
M7`QU#(X,IPS`#-D,\PT-#28-0`U:#70-C@VI#<,-W@WX#A,.+@Y)#F0.?PZ;
M#K8.T@[N#PD/)0]!#UX/>@^6#[,/SP_L$`D0)A!#$&$0?A";$+D0UQ#U$1,1
M,1%/$6T1C!&J$<D1Z!('$B8211)D$H02HQ+#$N,3`Q,C$T,38Q.#$Z03Q1/E
M%`84)Q1)%&H4BQ2M%,X4\!42%3055A5X%9L5O17@%@,6)A9)%FP6CQ:R%M86
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M,W\SN#/Q-"LT932>--@U$S5--8<UPC7]-C<V<C:N-NDW)#=@-YPWUS@4.%`X
MC#C(.04Y0CE_.;PY^3HV.G0ZLCKO.RT[:SNJ.^@\)SQE/*0\XSTB/6$]H3W@
M/B`^8#Z@/N`_(3]A/Z(_XD`C0&1`ID#G02E!:D&L0>Y",$)R0K5"]T,Z0WU#
MP$0#1$=$BD3.11)%546:1=Y&(D9G1JM&\$<U1WM'P$@%2$M(D4C721U)8TFI
M2?!*-TI]2L1+#$M32YI+XDPJ3'),NDT"34I-DTW<3B5.;DZW3P!/24^33]U0
M)U!Q4+M1!E%049M1YE(Q4GQ2QU,34U]3JE/V5$)4CU3;52A5=57"5@]67%:I
M5O=71%>25^!8+UA]6,M9&EEI6;A:!UI66J9:]5M%6Y5;Y5PU7(9<UETG77A=
MR5X:7FQ>O5\/7V%?LV`%8%=@JF#\84]AHF'U8DEBG&+P8T-CEV/K9$!DE&3I
M93UEDF7G9CUFDF;H9SUGDV?I:#]HEFCL:4-IFFGQ:DAJGVKW:T]KIVO_;%=L
MKVT(;6!MN6X2;FMNQ&\>;WAOT7`K<(9PX'$Z<95Q\')+<J9S`7-=<[AT%'1P
M=,QU*'6%=>%V/G:;=OAW5G>S>!%X;GC,>2IYB7GG>D9ZI7L$>V-[PGPA?(%\
MX7U!?:%^`7YB?L)_(W^$?^6`1X"H@0J!:X'-@C""DH+T@U>#NH0=A("$XX5'
MA:N&#H9RAM>'.X>?B`2(:8C.B3.)F8G^BF2*RHLPBY:+_(QCC,J-,8V8C?^.
M9H[.CS:/GI`&D&Z0UI$_D:B2$9)ZDN.339.VE""4BI3TE5^5R98TEI^7"I=U
ME^"83)BXF229D)G\FFB:U9M"FZ^<')R)G/>=9)W2GD">KI\=GXN?^J!IH-BA
M1Z&VHB:BEJ,&HW:CYJ16I,>E.*6IIAJFBZ;]IVZGX*A2J,2I-ZFIJARJCZL"
MJW6KZ:Q<K-"M1*VXKBVNH:\6KXNP`+!UL.JQ8+'6LDNRPK,XLZZT);2<M1.U
MBK8!MGFV\+=HM^"X6;C1N4JYPKH[NK6[+KNGO"&\F[T5O8^^"KZ$OO^_>K_U
MP'#`[,%GP>/"7\+;PUC#U,11Q,[%2\7(QD;&P\=!Q[_(/<B\R3K)N<HXRK?+
M-LNVS#7,M<TUS;7.-LZVSS?/N-`YT+K1/-&^TC_2P=-$T\;42=3+U4[5T=95
MUMC77-?@V&38Z-ELV?':=MK[VX#<!=R*W1#=EMX<WJ+?*=^OX#;@O>%$X<SB
M4^+;XV/CZ^1SY/SEA.8-YI;G'^>IZ#+HO.E&Z=#J6^KEZW#K^^R&[1'MG.XH
M[K3O0._,\%CPY?%R\?_RC/,9\Z?T-/3"]5#UWO9M]OOWBO@9^*CY./G'^E?Z
MY_MW_`?\F/TI_;K^2_[<_VW____N``Y!9&]B90!D0`````'_VP"$``$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$"`@("`@("
M`@("`@,#`P,#`P,#`P,!`0$!`0$!`0$!`0("`0("`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`__``!$(`#0`B0,!
M$0`"$0$#$0'_W0`$`!+_Q`&B````!@(#`0`````````````'"`8%!`D#"@(!
M``L!```&`P$!`0````````````8%!`,'`@@!"0`*"Q```@$#!`$#`P(#`P,"
M!@EU`0(#!!$%$@8A!Q,B``@Q%$$R(Q4)44(6820S%U)Q@1ABD25#H;'P)C1R
M"AG!T34GX5,V@O&2HD14<T5&-T=C*%565QJRPM+B\F2#=).$9:.SP]/C*3AF
M\W4J.3I(24I865IG:&EJ=G=X>7J%AH>(B8J4E9:7F)F:I*6FIZBIJK2UMK>X
MN;K$Q<;'R,G*U-76U]C9VN3EYN?HZ>KT]?;W^/GZ$0`"`0,"!`0#!00$!`8&
M!6T!`@,1!"$2!3$&`"(305$',F$4<0A"@2.1%5*A8A8S";$DP=%#<O`7X8(T
M)9)3&&-$\:*R)C495#9%9"<*<X.31G3"TN+R565U5C>$A:.SP]/C\RD:E*2T
MQ-3D])6EM<75Y?4H1U=F.':&EJ:VQM;F]F=WAY>GM\?7Y_=(6&AXB)BHN,C8
MZ/@Y25EI>8F9J;G)V>GY*CI*6FIZBIJJNLK:ZOK_V@`,`P$``A$#$0`_`-_C
MW[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]UT?H?]8^_=>/`YZ*C\E?E+C_`(][
M<K:_%=1]Y]\[P@H9JNDZ[Z+ZXS>],U)HA=X)LSFH8XMN;8Q\LB@-)55/FTDF
M.&4C3[-MCV)MZOH;=]XM[*T=@&>9@`H)H2/,D<:"GVCHDWO>EVBU\4;7<W<X
M%5$*D@D>1(Q0_G\QUJ3?(+^=O\^NRM[9BAVAG*'XN8'$5C4:]:[?VC19/?>*
MFBD<I%O;<_86!ERRY?P\2PPXW'4]U]*.+.<O>6?9+V^VW;1=[G<2[LCKAXR:
M?[0`\?2I)^?6.V]>Z/.FX7[0;?;+8)$:LCX<@<1ZU/[.A>^(O\^#Y$=7;MPF
M$^6];3]W]1Y"NHZ'-[OQ>V<;M[L_85'-,RS;GABVY!0X??&&Q\4@DJZ&2EAK
MVA0M!,[`0N0\Y^Q&S75G-N'*#R6\ZH2D,I-9"/P"O`G[:>HZ->5_=K=(+@1<
MP/"]B#WM^)5/F#YT-,'B,`CCUN$;9W1@-Y[>P&[=K9>AS^V=T8K'9_;N=Q50
ME5C,SA,Q215^+RE#4QDI/1UM%.DB,/JK>\3IX9K:YGL[F(I<1$A@<$$&A!^P
M]9$Q7,$]O;W-NX>"4`JPX$$5!'Y=*+VWT]U[W[KW7O?NO=>]^Z]U[W[KW7O?
MNO=>]^Z]U__0W^/?NO=>]^Z]U[W[KW7O?NO=>]^Z]UX^_=>)IGH!/D=\C.I?
MBMU3G^Y^Z=QR[9V-@7H*&:II<=79G)Y/,9>=:+"[?P>'QT4]9DLUF:UQ%!&J
MA=5V=D0,P,-CV;=.9=UCV3:(M5TQ`&:4^;$_A!(K^SHKW/<K#9[.3==P<B$#
M@,U-*T`X5-,</MZU9OD5_/C[N[8W[L[;O0V%G^/W2$?8>RDW-N+)C&YCN/>&
MSDWAATS?GJQ]YMSKK'Y##I+Y8J(5M>B,ZM51\J,HMD]@]KV;:=SO^9)GO-_%
MO(5C0_IHZHVDD>8!H3P&.'4$[C[J[MO&X;;8<NPK9VWCQB02`%RA==2CT-*@
M4SGB>KJ/YG_\N79'S7ZHS&^=D8?#X?Y+;)P<^9ZTWWC88Z>7?5#0TWWHZUWE
M/2C_`'/;>W%2QB*@EF+R8RM:.:!TC,T<L)^V/N+O?)&ZW%I+.QV6>01R(Q)"
MHQRZ#\++FI'$8\AU)?/O)UES5LSSPQA=SB4R(P%"Q45"L0*D,`*`\#QZT:%\
MI5HZJEJ:*IBFGIJZ@K$,%90U=/*::MH*V'1>*JI*F-XY5/(92/>>WU%M6SW2
MV<O!+`""36E:9%>!IYCK$[P81?-M]TH%P#2E!D_/UZW#O^$]_=F5W[\4-[=.
M9FJJZR3X[]ES8+;<U5.T_P!KL'?>/.ZMN86)GN_@PV5_B,,0)(2`(BV50/>&
M/O\`\NIM'/*WD:!!=0AZ*``2*`U`\Z4ZR7]G=X.[<K-`S$FVF*BI)H,T`KP`
MS@=7Z^X1ZEGKWOW7NO>_=>Z][]U[KWOW7NO>_=>Z][]U[K__T=_CW[KW7O?N
MO=>]^Z]U[W[KW7O?NO=>]Z-:&G'KW53/\[#J[*=H_P`O'N$X6FGKLAUKD=F]
MOFAIED>>IQVP=PTM=G_$D:/Y#28"HJJ@@V&F$F_'N2/9S=XMG]Q>7I;K'B`I
M\JNI45K_`$B.@%[G[6V[<F;G`E?TRLF./8:_;UHN2109"E>"4:Z6L@96>-V'
M[52I0R(T2EVLC7#`G_#Z>\]JI$Y,U?#'Q>I7\7VXKUB0%-Q103J?`/GGY_ZJ
M=;Q_\H'YP8'Y6_&W`[#W'F*9._>AL+A]E]C[?J95ARN;V]B84QFS>S\73"QK
ML+N;$TT4=5+&7^VRD4T<N@O$9,#?>/D3<>4>8[HZ"-FOM4\##R#-K`J.!!\L
M8I3SIEK[<\TV7,VQP19^KL2(6!\RH"AO6F,DUH<UZU1_YD.P\=UG\^_E;M/!
M4\5'A&[3GW3CZ*%4C@H_[]X3$;OKJ2EA2R)3IE,Q.]OJNOCWEG[<[A)O/MOL
M-Y,29(T6U)]2,"GJ:`<.L>>?8DL>;MVTH%76Q'EBOJ?\/\^K[?\`A./L;.8W
MISY)=HUE-)#M[L#M?;.V-LRNK*M:>NMLU%/N&K@+(!)`F5W`:?4MU\D#K?4#
M:"_O*;HESS9M5F&!:&V`-"#35PK3_2GJ7/9/:_IMJW.]-0)'%,8-.-/4Y'#K
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MLV^7D4&^V$;+*6=4+1#$CH&(+4'D*FM.-03BMSGR%O'+^[)<;5`TVTR.JPHJ
MLU&)`16H#05I4F@I4]'W^#O\GONOIK-8/Y=?)_O?,?$J@ZSH:C=S;9ZMS]!)
MV-'MFEIUK,OC.Q]ZQP9/:V(P.5H8Q%7X6DILP]2A,1DCETVCSW%]X]CYBC'*
MG+VT"_C?]-))Q0`DT5@#3(-""Q4#!!Z&/)'MKNVT7:\Q;U??23!@[11&M0,E
M20>!X8J?*G0>X/\`EB?*3^99\DNVOE-V30U_Q7Z-[?["R>Y=L5.^,2]3W1FN
MOX$IL-LX[<ZYJUI9-LRU^V,533-4YXTS0M/K2DF"V)FONARW[:<F;;RCL=R=
MRYG5/$DJ08K6;S,;BH8JQ([:TX5KTB?V_P!WYYYCW#F3?6,>SR5BC1E8,8ZX
M(%*Y&030'UZVMNC>ENN_CQU3L?IGJG!KM[877V$@P.`QQD:>I>-'>HKLGDZM
M@KU^:S.1GEJZRI8!IZF9W(%[>\6MSW"ZWK<[O==PDUW<KEB>`J?0>0'`?+Y]
M3YM]C;[586NW64>FWB4`#SH/4^OF?Y8Z%OVCZ6=>]^Z]U[W[KW7O?NO=>]^Z
M]U[W[KW7O?NO=?_3V0_YG7\]OXF_RR]VX7IS<N`[`[_^2NY<=C,OBNA>F*&A
MKL]B<9GZK[+:]1OC/Y2II\3MBJW;5(Z8K'QK6YBN`5XZ,Q212/JH]>O4/&F.
MB>[Q_GT_.OJW8>2[G[7_`)"7S5V;TKA,2^XMP[N3?VVLKG]M;;AB2>JS>>V7
M'L>FS6)I**GU2U#5@I4IHU+2NBAF&^O=6,?!3^<W\'_GWT)V=W]UMV!-U]A>
MA,`^Y/D)M+MR"DVMNWIS!QX.KW"-SY]::NR>%S6R*[&8VJDH\UBZNLH:K[>1
M`RS(\2ZJ/7K=#Z=5F;>_X4];)[\[!W9M#X(_RW?G3\U<!LV**HRV^>O-F8_`
MXXT50S"BR?\`!ZE<YF<10Y6-1-1IE8\=73TS"3[91<#>KY]>\'STCH0.GO\`
MA23U;GOD5AOBG\I/A7\K/A%W3OA(*#K/#]W8;$C%;PW7FJ2J?9&UYJJ!<?F<
M))V#F($Q6*R)QU3BGR4\<4U1$-3+JH]>O4/ITC^V/^%$GR`Z%V!F.U.[_P"2
M3\^^INM]N-0)N+?._JG:VV=J81\GD(,3CQ7YK+8FDI8!6Y*KB@AU%3)+*JJ"
M6%]]:ZQ]4?\`"BOOCOOKZA[5Z,_DG?/KM_KK*S9:EP^]NO*C:VZML92LP=9/
MCLK2T65PF*KHJF;'Y&ED@F6,.R3(R6+"WME9=0!"X_/_`"#IYH@I(U_X/\_1
MI>F?YX^TNW?YI,W\K>;XR=D;'[`H\)D<EE>RLWO/:]7A<-7XCI3"]R97;^2V
MK24BYB#*8W^+_P`'F7R_MUD9<735I>\^FJ'C3HV7\UK^85LW^63\5H_DKOOJ
M'-]WX"7M#8/6YV/@LU@L%D&R&[ILG/CLQ]YN*EJ\;(F,JL.I$90.9'5@RA2P
MT2`#4XZ\J"8BH%?G_L]$V[@_X4-?#7X\_"7XP_+SM_`;ZQF[/EMUJO9G57QG
MVE)A]W=JOA(WD@R&6W#E:BKP&V-O[/QE9X8'S%=-30RS3>*GCGDCD1/:P:"O
M7BF@E?\`9_S]`5A_Y[/S[W-L:D[>VM_(%^;67Z@KL)'N6@W"V_=O4FZLGMJ>
MD&0I<YBM@2;!?<N0I*O'.D\(ABD$T;:D9EL3OK71T?Y8/\\;XB_S1JG<^R>M
MJ3>W3O?.QL'+N7=G17<M!0X?<_\`=FER*XC)[IVEG,979#`;OP6"RKK2Y(0R
M0U^-J&5:JEA#(S^ZW0^G1.-U_P#"F;I#>'?.[/CY\%_AG\N_Y@VZ=CU69I=P
M;CZ&VCC8=F3Q8'+2X7(YW`5U;49+,Y+9_P#$X7IZ;,5%!14%?,A^UDF33(U6
M8*NJH_U?MZ]0^AZ&KJ_^<3\R>P.S>N=AY_\`D;?S`^N,#O;?6U=I9SL3=46W
M4VQL'#[@S=)B\EO3<3+BXB,)MBCJ7K:L:XR8(6"MJT@Z5R3333]O^4#K6G5@
MTZ1_PT_G\'YX;H^9G7OQ[^$O9.XNSOB/LC+[UQNQZGMC8=)4=W?P;L?*;`J-
MN;.R\N-7'8'/UT>'GJZ%:XF*IE44Q>/6LYOULQZ<T'0S_P`K_P#GL?&S^9/G
M.W.LZC9NZOBS\@.F6S.4W3TCW=E\)3;@J-E;=F^PW+NW&Y.+^'TM]DYB*6EW
M%CJB*GK\(PCDG3Q3+(/=>H?3H-_C%_/TV5\YOG5NSX?_``J^+/9_??7/7F6@
M7L'Y=Q[PVUM+IG;6S(GJ*')=@+15^/KLYD\1DLY234FVZ5#'7;G6)JFFC2D2
M2>/U0>!Z]0^8ZV`_(?\`5C_J1+_T=[]UKK__U`@[BW5LKXH_\*S:_M'YE&EV
MKUGE.[<)O_;.[]^3P';&*VUO?H*GV)TQVBN7R!-%#M+9^^8!025BN(,#60N9
MFA,#$-4.NM,5Z?D93%&H;(ZWYNQ?D'T#UGU5F>V^T.W^L-L]2XC;U3F\]O;/
M[PP']T7P,=`]54RQUSUDM+F4K:5M,4$`FEJRZI$CNZJ7!P%>/3'7RT/B+C<Q
MG.FOY]/=_5N'RFW_`(^#XC;UVN\T.-FI,'24_<GRXVAG^FMC3B.+[;$YVDV1
M0UM0M#J2>EH2Z6T-8M:6SC'2@"ND4J?]CJ\O^1MT-_.<W!_+RH]\_P`O7Y8?
M$3ICIO/]F]T9"DZ\[2Z/;=G86:[!PVX)L)FZ[/[Y_@.4IZN/,5^'B@HGF=UH
M:!8HR-,85;*&`-/]7\NFV*US_J_GT7G^7A@-T_S5?YQ-!!_.-^1.Z]J?,CX=
MYW%_Z-?BW)UQMCKK#=BUG3&?R&\LGL''9[;\U)C,-!LS=<<&XI\?24]97[OP
MM1]]3UHI(I"E:,34CJQ*@44];-__``IC:_\`)H^4^E^#7]+Z])(#*>Z=A_47
M]0N+@<\@>WO+IGS'2>_X2_DG^3MT+R3;?_?0'-[+_IAW:;#^@N3[9MP5CHPH
M>O298D>O6M)O/K[Y'=I_\*F_DUL/XD]\X?XS=_9?=F_JK:/<NX-BX_LS$[<Q
M&)^.6T:_=F+GV5DRM%DFW-A(Y*1))"!3N=8]0`]O=/YT#TIT.G\^CXL?S8^E
M_@2-X?-[^91L7Y7]+_Z=^IL3'U1MKXX[7ZJR?]],G49J/:VZ_P"^&';[XT^V
MYXY9'H2HAJ1)<G4B`M%3CJBL/EU3_P!^S8[JCM[^0AWK\@<?4Y[XO_[)C\&,
MM$*J@ER6WJW9W3_;FXLCWCM:EI726EKZW;=5E:?+Y+'QB2::CJ8Y60AO>@"I
M!(HO5R0057)/IU]1/`]]=(;BZZ@[;P7<W6&8ZNK\5_>:C[&H]_[6J-DR;>FA
M^^3+?WH3)?P>+&1TEW,C3!8T!U$6/MP.A(`<5Z;T,,LAH/EU\XSI/=N)[W_G
MR?S`ODC\/W:LZ1VQUM_,'[@R&]]K8VL7;/\`HZE^-6Y-AY7>D1BHU2CQ79O;
ME1'4XB1XHQ7U$R5,7TU^]M4@TZN"M!4YZ%O_`(38?'W^9=V?\>?D'N;^7Q\R
M>E/BGA:7LSK[;79^*[)Z`PW;^X-\[@Q?5V*RV`R]-N+)TU3+AL)B\/GV@AH(
M_1YVGF(5I#K:TL0W$&OV?Y#UIF7%#7K<<^"?0O\`-BZM[8W1N#YY_.GIKY/]
M55W7\^'VKL;K?H#"]297"=@-N'$UM/NFLS.-H*>:OQ\.W8*VD:F:1D>2HC?0
M#%J9U10`'CU4D$'&>M5__A)?)'%_,._F45$DJ11P]<9!YY)'6**%4^2_8$C/
M([D+$BH"US8`7][ZM(05`!%:]%D_FMX'K;^;O_-*WKM?^3MT9F]^=P]==9[[
MG^4GR'Z[W&=K=;]V5FWZ%-OU51C:N&:BP#PQ4E++M8[@>HA&_JR=,=%'54=,
MM:]'!(``\^O(P"T)\^KUO^$L/RS^&&9^+V6^&G7O6M%\=?E_U)E,QE?D)L#<
M]3(N^N\<]15?\&S/<M'59NGH-Q9(8:IIEQ&4P#Q!MES01T"H*4TTLODKZ=5<
MU\^MKWSP_P#'1/\`DH>[]4Z__]79>_G`_P##,O\`HTVS_P`.Y_Z"_P""?[E?
M]%_]^OXO_I<U>-/XW_HI_P!&W_&8_L/-X?O_`.'_`.X_S>+[G^Q[]U[K5>VW
M_P!`:G]X-O\`\2_V8K^ZO\9_W#?WZ_V=/_11Y?N%MX/'Q_#_`"WOX?5IU:O3
M[]U[K9SR_P#PR-_PT1W!_<K_`$,_\-6_P5?]+O\`LO']Y/X;Y/[V[6^Z_O)_
MHQ_XRO\`W^_O)_"OOONO]SOC\7G_`&;>_=.#Q*K7C3%?2G[.C&_RC?\`AO[_
M`&2_;'_#9/\`$/\`94O[^=E?W>_B?^DO[G^^/]Z*C^_W_,W/]_EX?[Q>33Y/
M\GM_F/V[>_=4-:FO'JNK^93_`,,+?\.!]-?[-]_'/^'&+=5?Z,/]`/\`LQ_^
MF7^,_P!Z1_H7_BW^RZ?L?WW_`(A_Q9_XO_N3_A%M7^X[1[]UKJSS^:;_`+)!
M_LC_`&M_PXY]]_LHOGV1_I0^U_OY]U]Q_?+`_P!T?)_HI_W^>O\`OA]E_P``
M/3KMK_:U>_=>Z;_Y3W^R'_[)1L#_`(;8^[_V4K^\W8G]R?O_`/2)YOX[_?/+
M_P!^;?Z4_P#?Y>/^]GW=ON/V[W\7[=O?NO=$&ZN_X9!_X>TWS_H\_C'_``[=
M_$^P/[X>;_9@/X9]]_HBQW]\K?Q3_C"NC_1?]OX_!_TY_P`HU^_8KT[FGE2G
M1QOYQG_#<?\`LGR_\.F??_[*]_I:Z]T?PW_2IY_])FO,?W)O_H=_W]_B_P"!
M>O5_D.G_`#W%O?NFN@"WE_PQG_PU1\=O].7^@[_AM;^Y6!_V73_9@/[S??\`
M\*\-=_!?[@?WT_XS=_?O[/[C_@!_N>^V\FK]O7[TU*&O#K:UU#3QKUK$UG_0
M&9_&ZO[;_9C?[H?QE?O?X3_LZ/\`HJ^X\\GC^YU_O_;W_3J_>TV_-_;2^'44
M^*OGQ_S].MXNDU^&GY?YNMI#X+?\,C_[)%\C/]D!_P!!?^RM?Z.]\_[-!_HG
M_O%_I%_NC_<7-_WG_P!*O\3_`.,Z?Q/^YO\`$/L/O_\`*=/F^P]=_;W3/7'^
M1[_PTA_H3[B_X:$_BG^B+_2?A_\`2C_$O]->K_2'_</"?P_3_IP_W\%O[H_9
MZ_M/\F\GZOW=?OW7NKNO5Q]/K^+_`/$^_=>ZU$?CY_T#:_W$_F+?[+'_`*9/
M[O\`^C.I_P!GV_T9_P"SJ?WL_P!#'^EC+_WJ\/@_W^']RO[Y_>_Q_P#NE^[_
M``/S?=?[B?)[]U[JT[^2O_PT/_H&['_X:)_NG_HW_P!(J_Z7/L/[_?Z0O[X_
MPW_?O?WW_P!*_P#QDC^[_P#!=?\`=[R?[B/!]Q]AS]S[]U[HC7?O_0/=_P`.
MRXG^*_WC_P"'5/\`2ILO[+_99/\`9DO[U_Z8OX*G_%W_`-"W_&+O[Q_W4O\`
>WR_B/^3_`&'D_CW^[/?NO=;0OK_VG_>??NO=?__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
